Automatic Data Processing

Business Services Technology cloud hrtech human capital it consulting outsourcing recruiting

Automatic Data Processing provides business process outsourcing services worldwide. The Company offers cloud-based human capital management solutions that unite HR, payroll, talent, time, tax and benefits administration, and specializes in business outsourcing services, analytics and compliance expertise. Automatic Data Processing operates through two segments, Employer Services and Professional Employer Organization Services.

Revenue(FY, 2017)

$12.4 B

Market capitalization(2018-04-20)

$51.8 B

Customers(FY, 2017)

700 K

Type

Public

Roseland, US

Founded

1949

Size (employees)

58,000 (est)

Website

adp.com

Automatic Data Processing was founded in 1949 and is headquartered in Roseland, US

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Key People/Management at Automatic Data Processing

Carlos Rodriguez

President & Chief Executive Officer

Don Weinstein

Chief Strategy Officer

Ed Flynn

President, Global Enterprise Solutions

Tom Perrotti

President, Worldwide Sales and Marketing

Stuart Sackman

Corporate Vice President, Global Product and Technology

Debbie Dyson

President, National Account Services & Client Experience

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Automatic Data Processing Office Locations

Automatic Data Processing has offices in Singapore, Toulouse, Marlborough, Porto and in 159 other locations

Roseland, US (HQ)

1 ADP Blvd

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Automatic Data Processing Financials and Metrics

Automatic Data Processing Financials

Automatic Data Processing's revenue was reported to be $12.38 b in FY, 2017 which is a 6.1% increase from the previous period.

Summary

USD
Revenue (Q2, 2018)	3.2 b
Gross profit (Q2, 2018)	3 b
Gross profit margin (Q2, 2018), %	94%
Net income (Q2, 2018)	869 m
Market capitalization (20-Apr-2018)	51.8 b
Cash (31-Dec-2017)	1.8 b
EV	52.1 b

Automatic Data Processing's current market capitalization is $51.8 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	12.2 b	10.9 b	11.7 b	12.4 b
Revenue growth, %	8%	(10%)	7%	6%
Cost of goods sold	7.2 b	6.4 b	6.8 b	7.3 b
Gross profit	5 b	4.5 b	4.8 b	5.1 b

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018
Revenue	2.6 b	2.7 b	3 b	2.7 b	2.8 b	3.2 b	2.9 b	3 b	3.4 b	3.1 b	3.2 b
Cost of goods sold	1.6 b	1.6 b	1.7 b	1.6 b	1.7 b	1.8 b	1.7 b	1.8 b	1.9 b	1.9 b	194.7 m
Gross profit	1 b	1.1 b	1.3 b	1.1 b	1.1 b	1.4 b	1.2 b	1.2 b	1.5 b	1.2 b	3 b
Gross profit Margin, %	39%	40%	44%	39%	40%	44%	40%	41%	44%	39%	94%

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	1.6 b	1.6 b	3.2 b	2.8 b
Accounts Receivable	1.5 b	1.5 b	1.7 b	1.7 b
Current Assets	27.5 b	28.8 b	39.5 b	32.7 b
PP&E	667.1 m	672.7 m	685 m	779.9 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018
Cash	2.2 b	1.9 b	1.8 b	3.2 b	2.8 b	2.9 b	2.8 b	2.7 b	3 b	2.4 b	1.8 b
Accounts Receivable	1.4 b	1.6 b	1.6 b	1.6 b	1.6 b	2.1 b	1.6 b	1.8 b	1.8 b	1.8 b	2 b
Current Assets	25.8 b	39.1 b	32.8 b	30.2 b	35.7 b	46.8 b	30.1 b	35.8 b	39.5 b	31 b	39.4 b
PP&E	650.7 m	650.3 m	646 m	680.3 m	679.6 m	668.8 m	701 m	733.2 m	750.6 m	800.4 m	799.9 m

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Cash Flow

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	1.5 b	1.5 b	1.5 b	1.7 b
Depreciation and Amortization	336.2 m	277.9 m	288.6 m	316.1 m
Accounts Payable	9.7 m	13.1 m	(15.9 m)	(11.6 m)
Cash From Operating Activities	1.8 b	1.9 b	1.9 b	2.1 b

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018	Q2, 2018
Net Income	295.2 m	626.7 m	1.1 b	336.6 m	678 m	1.2 b	368.7 m	879.6 m	1.5 b	401.5 m	869 m
Depreciation and Amortization	68.3 m	138 m	208.4 m	68.8 m	141.4 m	214.7 m	77.6 m	156 m	233.6 m	87.2 m	182 m
Accounts Payable	(9.2 m)	(9.7 m)	(16.2 m)	(19.5 m)	(18 m)	2.3 m	(36.3 m)	(16.1 m)	(29.5 m)	(24.5 m)	(2.7 m)
Cash From Operating Activities	378.2 m	607.1 m	1.5 b	109.1 m	515.4 m	1.2 b	329.8 m	841.1 m	1.7 b	244.7 m	675.1 m

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Ratios

USD	Y, 2017
EV/CFO	77.1 x
EV/FCF	93.5 x
Revenue/Employee	55.8 k
Debt/Equity	0.5 x
Financial Leverage	11.3 x

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Automatic Data Processing Operating Metrics

Automatic Data Processing's Customers was reported to be 700 k in FY, 2017.

	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017	Q3, 2017	FY, 2017	Q1, 2018	Q2, 2018
Customers	637 k				630 k				650 k				700 k
New Bookings					$1.60 b								$1.65 b
Average Client Funds Balances	$20.70 b	$18.70 b	$19.80 b	$26.20 b	$21.80 b	$19.36 b	$20.55 b	$26.68 b	$22.42 b	$20.05 b	$20.91 b	$27.31 b	$23.02 b	$21.21 b	$22.50 b
Countries	125				100				110				110

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Automatic Data Processing Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
ADP Brasil Ltda
ADP Canada Co.
ADP France SAS
ADP Payroll Services
ADP Broker-Dealer Inc
ADP Europe SAS
ADP MasterTax
ADP Private Limited
ADP TotalSource CO XXI
Automatic Data Processing Insurance Agency