Automatic Data Processing (ADP) financial statements
Automatic Data Processing reported revenue of $21.9B in fiscal 2026, up 6.6% a year over 9 years.
Net income was $4.4B and the operating margin 24.2%, against 18.4% in 2017.
The diluted share count fell 10% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Automatic Data Processing's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.4B | $13.3B | $14.1B | $14.6B | $15.0B | $16.5B | $18.0B | $19.2B | $20.6B | $21.9B |
| Cost of revenue | $7.2B | $7.8B | $8.0B | $8.4B | $8.6B | $9.5B | $10.0B | $10.5B | $11.1B | $11.8B |
| Gross profit | $5.1B | $5.5B | $6.1B | $6.1B | $6.4B | $7.0B | $8.1B | $8.7B | $9.5B | $10.2B |
| Research and development | — | — | — | — | — | $799M | $845M | $956M | $989M | $1.0B |
| Selling, general and admin | $2.8B | $3.0B | $3.1B | $3.0B | $3.0B | $3.2B | $3.6B | $3.8B | $4.1B | $4.4B |
| Operating income | $2.3B | $2.5B | $2.9B | $3.0B | $3.3B | $3.7B | $4.3B | $4.6B | $5.0B | $5.3B |
| Interest expense | $80M | $103M | $130M | $107M | $60M | $82M | $253M | $361M | $456M | $459M |
| Pre-tax income | $2.6B | $2.3B | $3.0B | $3.2B | $3.4B | $3.8B | $4.4B | $4.9B | $5.3B | $5.7B |
| Income tax | $829M | $398M | $713M | $716M | $763M | $855M | $1.0B | $1.1B | $1.2B | $1.3B |
| Net income | $1.8B | $1.9B | $2.3B | $2.5B | $2.6B | $2.9B | $3.4B | $3.8B | $4.1B | $4.4B |
| EPS (diluted) | $3.97 | $4.25 | $5.24 | $5.70 | $6.07 | $7.00 | $8.21 | $9.10 | $9.98 | $10.94 |
| Diluted shares | 450M | 443M | 438M | 433M | 428M | 421M | 416M | 412M | 409M | 403M |
| Gross margin | 41.4% | 41.6% | 43.2% | 42.1% | 42.4% | 42.6% | 44.7% | 45.4% | 46.0% | 46.4% |
| Operating margin | 18.4% | 18.5% | 20.5% | 20.8% | 21.8% | 22.6% | 23.6% | 23.9% | 24.1% | 24.2% |
| Net margin | 14.5% | 14.2% | 16.2% | 16.9% | 17.3% | 17.9% | 18.9% | 19.5% | 19.8% | 20.1% |
Balance sheet
Fiscal years, from Automatic Data Processing's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2.8B | $2.2B | $2.0B | $1.9B | $2.6B | $1.5B | $2.1B | $3.3B | $7.8B | $4.2B |
| Receivables | $1.7B | $2.0B | $2.4B | $2.4B | $2.7B | $3.2B | $3.0B | $3.4B | $3.6B | $3.5B |
| Total current assets | $32.7B | $31.8B | $34.3B | $31.6B | $40.7B | $54.8B | $42.2B | $45.5B | $43.3B | $52.6B |
| Property, plant and equipment | $780M | $794M | $764M | $704M | $684M | $653M | $681M | $686M | $655M | $641M |
| Goodwill | $1.7B | $2.2B | $2.3B | $2.3B | $2.3B | $2.3B | $2.3B | $2.4B | $3.3B | $3.3B |
| Total assets | $38.9B | $38.8B | $41.9B | $39.2B | $48.8B | $63.1B | $51.0B | $54.4B | $53.4B | $63.2B |
| Total current liabilities | $29.8B | $30.4B | $32.6B | $30.1B | $38.1B | $55.2B | $42.8B | $45.1B | $41.3B | $50.0B |
| Long-term debt | $2.0B | $2.0B | $2.0B | $1.0B | $3.0B | $3.0B | $3.0B | $3.0B | $4.0B | $5.0B |
| Total liabilities | $33.2B | $34.1B | $36.5B | $33.4B | $43.1B | $59.8B | $47.5B | $49.8B | $47.2B | $57.2B |
| Shareholders' equity | $4.0B | $4.7B | $5.4B | $5.8B | $5.7B | $3.2B | $3.5B | $4.5B | $6.2B | $6.0B |
| Net debt | -$770M | -$165M | $56M | $96M | $411M | $1.6B | $907M | $79M | $628M | $735M |
Cash flow
Fiscal years, from Automatic Data Processing's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.1B | $2.5B | $2.7B | $3.0B | $3.1B | $3.1B | $4.2B | $4.2B | $4.9B | $5.4B |
| Stock-based compensation | $139M | $175M | $167M | $131M | $175M | $202M | $220M | $244M | $266M | $243M |
| Dividends paid | $995M | $1.1B | $1.3B | $1.5B | $1.6B | $1.7B | $1.9B | $2.2B | $2.4B | $2.6B |
| Share buybacks (net) | -$1.3B | -$989M | -$938M | -$1.0B | -$1.4B | -$2.0B | -$1.1B | -$1.2B | -$1.3B | -$2.1B |
| Net borrowing | -$2M | -$7M | -$2M | -$2M | $980M | -$900,000 | -$1M | -$900,000 | $5.7B | -$3.8B |
| Dividends per share | $2.21 | $2.40 | $2.95 | $3.40 | $3.68 | $3.94 | $4.58 | $5.30 | $5.87 | $6.51 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for ADP.
Open ADP in InvestinglyQuestions
What was Automatic Data Processing's revenue in 2026?
$21.9B in fiscal 2026, from its 10-K filing.
From Automatic Data Processing's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.