ADP market cap is $63 b, and annual revenue was $14.18 b in FY 2019

ADP Gross profit (Q3, 2020)1.8 B

ADP Gross profit margin (Q3, 2020), %44.7%

ADP Net income (Q3, 2020)820.9 M

ADP Cash, 31-Mar-20201.7 B

ADP EV63.6 B

ADP revenue was $14.18 b in FY, 2019 which is a 6.4% year over year increase from the previous period.

ADP revenue breakdown by business segment: 29.9% from Professional Employer Organization Services and 70.1% from Employer Services

ADP revenue breakdown by geographic segment: 8.7% from Europe, 87.0% from United States and 4.3% from Other

USD | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Revenue | 12.4b | 13.3b | 14.2b |

| 6% | 8% | 6% |

## Cost of goods sold | 7.3b | 7.8b | 8.1b |

## Gross profit | 5.1b | 5.5b | 6.1b |

| 41% | 41% | 43% |

## General and administrative expense | 2.8b | 3.0b | 3.1b |

## Operating expense total | 2.8b | 3.0b | 3.1b |

## Interest expense | 80.0m | 102.7m | 129.9m |

## Pre tax profit | 2.5b | 2.2b | 3.0b |

## Income tax expense | 797.7m | 550.3m | 712.8m |

## Net Income | 1.7b | 1.6b | 2.3b |

## EPS | 3.9 | 3.7 | 5.2 |

USD | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 |
---|---|---|---|---|---|---|---|---|---|

## Revenue | 3.1b | 3.2b | 3.7b | 3.3b | 3.5b | 3.8b | 3.5b | 3.7b | 4.0b |

## Cost of goods sold | 1.9b | 1.9b | 2.1b | 1.9b | 2.0b | 2.1b | 2.0b | 2.1b | 2.2b |

## Gross profit | 1.2b | 1.3b | 1.6b | 1.4b | 1.5b | 1.7b | 1.5b | 1.6b | 1.8b |

| 39% | 40% | 44% | 42% | 43% | 45% | 42% | 43% | 45% |

## General and administrative expense | 662.4m | 717.2m | 755.1m | 713.9m | 745.2m | 750.4m | 726.5m | 754.3m | 756.6m |

## Operating expense total | 662.4m | 717.2m | 755.1m | 713.9m | 745.2m | 750.4m | 726.5m | 754.3m | 756.6m |

## Interest expense | 28.0m | 27.5m | 18.6m | 35.9m | 38.6m | 21.7m | 39.9m | 31.6m | 20.0m |

## Pre tax profit | 548.2m | 565.7m | 852.6m | 646.8m | 741.0m | 984.5m | 739.1m | 835.5m | 1.1b |

## Income tax expense | 146.7m | 98.2m | 209.5m | 141.4m | 182.8m | 230.8m | 156.7m | 183.9m | 255.8m |

## Net Income | 401.5m | 467.5m | 643.1m | 505.4m | 558.2m | 753.7m | 582.4m | 651.6m | 820.9m |

## EPS | 0.9 | 1.1 | 1.5 | 1.2 | 1.3 | 1.7 | 1.3 | 1.5 | 1.9 |

USD | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Cash | 2.8b | 2.2b | 1.9b |

## Accounts Receivable | 1.7b | 2.0b | 2.4b |

## Current Assets | 32.7b | 32.1b | 34.3b |

## PP&E | 779.9m | 793.7m | 764.2m |

## Goodwill | 1.7b | 2.2b | 2.3b |

## Total Assets | 37.2b | 37.1b | 41.9b |

## Accounts Payable | 149.7m | 135.4m | 125.5m |

## Dividends Payable | 250.5m | 298.9m | 340.1m |

## Current Liabilities | 29.8b | 30.4b | 32.6b |

## Long-term debt | 2.0b | 2.0b | 2.0b |

## Total Debt | 2.0b | 2.0b | 2.0b |

## Total Liabilities | 33.2b | 33.6b | 36.5b |

## Common Stock | 63.9m | 63.9m | 63.9m |

## Additional Paid-in Capital | 867.8m | 1.0b | 1.2b |

## Retained Earnings | 14.7b | 15.3b | 17.5b |

## Total Equity | 4.0b | 3.5b | 5.4b |

## Debt to Equity Ratio | 0.5 x | 0.6 x | 0.4 x |

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0 x |

## Financial Leverage | 9.3 x | 10.7 x | 7.8 x |

USD | FY, 2017 | FY, 2018 | FY, 2019 |
---|---|---|---|

## Net Income | 1.7b | 1.6b | 2.3b |

## Depreciation and Amortization | 316.1m | 377.6m | 409.0m |

## Accounts Receivable | (23.4m) | (291.8m) | (473.9m) |

## Accounts Payable | (11.6m) | (1.9m) | (10.7m) |

## Cash From Operating Activities | 2.1b | 2.5b | 2.7b |

## Purchases of PP&E | (240.2m) | (206.1m) | (162.0m) |

## Cash From Investing Activities | 5.7b | (2.5b) | 2.2b |

## Long-term Borrowings | (2.0m) | (7.3m) | (2.1m) |

## Dividends Paid | (995.2m) | (1.1b) | (1.3b) |

## Cash From Financing Activities | (8.3b) | (1.7b) | (207.7m) |

## Net Change in Cash | (410.7m) | (1.6b) | 254.1m |

## Interest Paid | 78.1m | 100.5m | 127.5m |

## Income Taxes Paid | 817.1m | 529.7m | 633.8m |

USD | Y, 2020 |
---|---|

## EV/CFO | 28.3 x |

## Debt/Equity | 0.4 x |

## Debt/Assets | 0.1 x |

## Financial Leverage | 7.9 x |

## P/E Ratio | 77.1 |

ADP's Enterprise Customers was reported to be 810 k in FY, 2019.

FY, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q4, 2018 | FY, 2018 | Q1, 2019 | Q2, 2019 | Q3, 2019 | Q4, 2019 | FY, 2019 | Q1, 2020 | Q2, 2020 | Q3, 2020 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Enterprise Customers | 700 k | 740 k | 810 k | |||||||||||

## New Bookings | $1.65 b | $1.80 b | $1.94 b | |||||||||||

## Average Client Funds Balances | $23.02 b | $21.21 b | $22.50 b | $28.80 b | $24.90 b | $24.30 b | $22.20 b | $23.60 b | $30 b | $26.20 b | $25.50 b | $23.70 b | $25.10 b | $31.37 b |

## Worksite Employees Served (ADP TotalSource) | 491 k | 486 k | 504 k | 508 k | 535 k | 535 k | 532 k | 549 k | 552 k | 562 k | 562 k | 569 k | 584 k | 595 k |

## Average Paid Worksite Employees (ADP TotalSource) | 462 k | 484 k | 498 k | 512 k | 523 k | 504 k | 528 k | 545 k | 554 k | 563 k | 547 k | 563 k | 579 k | 595 k |

## Enterprise Customers (ADP TotalSource) | 10.70 k | 12 k | 12.50 k | |||||||||||

## Enterprise Customers (Cloud-based Strategic Software as a Service Offerings) | 570 k | 630 k | ||||||||||||

## Mobile Customers | 12 m | 17 m | ||||||||||||

## Enterprise Customers (RUN) | 510 k | 570 k | 640 k | |||||||||||

## Enterprise Customers (ADP Workforce Now) | 60 k | 60 k | 70 k | |||||||||||

## Workers Paid (US) | 26 m | 26 m | 26 m | |||||||||||

## Workers Paid (outside the US) | 13 m | 14 m | 15 m | |||||||||||

## Countries | 110 | 110 | 140 |

FY, 2017 | FY, 2016 | FY, 2015 | FY, 2014 | |
---|---|---|---|---|

Female, percent | 54 % | 54 % | 54 % | 52 % |

Male, percent | 46 % | 46 % | 46 % | 48 % |

- Source: www.adp.com