ADP vs SAP: Automatic Data Processing and SAP SE ADR compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- SAP SE ADR is the larger company, worth $281.5B, about 2.5 times Automatic Data Processing.
- SAP SE ADR grew revenue faster over the last year (+7.7% vs +6.8%).
- SAP SE ADR keeps more of each dollar of revenue as operating profit (26.1% vs 24.2%).
- On earnings, Automatic Data Processing is the cheaper stock (26.0x vs 33.0x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | ADP | SAP |
|---|---|---|
| Market cap | $111.3B | $281.5B |
| Share price | $270.88 | $214.78 |
| Revenue (last fiscal year) | $21.9B | $36.8B |
| Free cash flow (last fiscal year) | — | $8.4B |
| Revenue growth, last year | +6.8% | +7.7% |
| Revenue growth per year, last 5 fiscal years | +7.4% | +8.1% |
| Operating margin | 24.2% | 26.1% |
| Net margin | 20.1% | 19.5% |
| Return on equity | 73.2% | 16.1% |
| P/E (trailing) | 26.0x | 33.0x |
| Price / free cash flow | 23.3x | 35.5x |
| EV / EBITDA | 16.5x | 14.7x |
| FCF growth the price implies | — | — |
| Dividend yield | 2.4% | 1.2% |
| Debt / equity | 9.48x | 0.57x |
| Fundamental grade | C | B |
| Superinvestors holding it | 5 | 9 |
| Insider purchases, last 12 months | 10 | 0 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Automatic Data Processing
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $16.5B | — | 22.6% |
| 2023 | $18.0B | — | 23.6% |
| 2024 | $19.2B | — | 23.9% |
| 2025 | $20.6B | — | 24.1% |
| 2026 | $21.9B | — | 24.2% |
SAP SE ADR
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $27.0B | $5.5B | 23.4% |
| 2022 | $29.5B | $4.8B | 20.0% |
| 2023 | $31.2B | $5.5B | 18.6% |
| 2024 | $34.2B | $4.4B | 13.6% |
| 2025 | $36.8B | $8.4B | 26.1% |
Where the revenue comes from
Automatic Data Processing · by segments, 2026
Employer Services$14.8B68%
PEO Services$7.1B32%
SAP SE ADR · by segments, 2019
Applications, Technology & Services$23.5B86%
Intelligent Spend Group$3.2B12%
Qualtrics$508M2%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open ADP in InvestinglyQuestions
Which is bigger, Automatic Data Processing or SAP SE ADR?
SAP SE ADR (SAP), at $281.5B against $111.3B.
Is ADP or SAP cheaper?
By trailing P/E, Automatic Data Processing (26.0x) is cheaper than SAP SE ADR (33.0x). A lower multiple can also mean the market expects less growth.
Which grows faster, ADP or SAP?
SAP SE ADR: revenue grew +7.7% over the last year, against +6.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.