AUTOMATIC DATA PROCESSING INC

Listed Company

ADPCIK 0000008670NasdaqLarge AcceleratedServices-Computer Processing & Data PreparationDelawareFY ends Jun 30

Period

FY 2025

Revenue

$20.56B

Net Income

$4.08B

Total Assets

$53.37B

Equity

$6.19B

Shares Out

399.73M

Op. Cash Flow

$4.94B

Business

AUTOMATIC DATA PROCESSING INC provides cloud-based human capital management (HCM) and payroll services that help employers manage the full employee lifecycle. It offers payroll processing, benefits administration, talent management, workforce management, compliance, insurance and retirement services, as well as HR outsourcing and PEO solutions. The company reports two business segments: Employer Services (technology-based HCM platforms and HRO) and Professional Employer Organization (ADP TotalSource full-service PEO). ADP serves clients across more than 140 countries via direct sales, partner channels, marketplaces and API integrations.

Summary from filing dated 2025-08-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Revenues	20,561	19,203	18,012	16,498	15,005
Operating expenses	9,623	9,050	8,657	8,253	7,521
Research and development	989	956	845	799	—
Depreciation and amortization	486	471	451	411	403
TOTAL COSTS OF REVENUES	11,097	10,477	9,953	9,462	8,640
Selling, general, and administrative expenses	4,052	3,779	3,551	3,233	3,041
Interest expense	456	361	253	82	60
TOTAL EXPENSES	15,605	14,617	13,758	12,777	11,741
Other (income)/expense, net	−354	−287	−184	−83	−96
EARNINGS BEFORE INCOME TAXES	5,310	4,872	4,438	3,804	3,361
Provision for income taxes	1,230	1,120	1,026	855	763
NET EARNINGS	4,080	3,752	3,412	2,949	2,599
BASIC EARNINGS PER SHARE (in dollars per share)	10.02	9.14	8.25	7.04	6.1
DILUTED EARNINGS PER SHARE (in dollars per share)	9.98	9.1	8.21	7	6.07
Basic weighted average shares outstanding (in shares)	407	411	414	419	426
Diluted weighted average shares outstanding (in shares)	409	412	416	421	428

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	3,348	2,913	2,084	1,436	2,575
Short-term marketable securities	4,499	384	—	—	—
Accounts receivable, net of allowance for doubtful accounts of $47.1 and $52.2, respectively	3,579	3,428	3,010	3,171	2,727
Other current assets	841	821	744	629	533
Total current assets before funds held for clients	12,267	7,546	5,837	5,236	5,836
Funds held for clients	30,986	37,996	36,334	49,569	34,906
Total current assets	43,252	45,543	42,171	54,805	40,742
Long-term receivables, net of allowance for doubtful accounts of $0.1 and $0.1, respectively	4	7	9	9	12
Property, plant and equipment, net	655	686	681	653	685
Operating lease right-of-use asset	374	371	402	451	462
Deferred contract costs	3,154	2,965	2,770	2,580	2,498
Other assets	1,053	1,102	1,255	937	826
Goodwill	3,274	2,354	2,339	2,301	2,338
Intangible assets, net	1,603	1,336	1,344	1,333	1,210
Total assets	53,369	54,363	50,971	63,068	48,773
Accounts payable	169	101	97	110	141
Accrued expenses and other current liabilities	3,092	3,350	2,343	2,108	1,963
Accrued payroll and payroll-related expenses	973	959	941	863	910
Dividends payable	621	566	510	430	391
Short-term deferred revenues	263	200	189	188	204
Obligations under reverse repurchase agreements	38	385	105	136	24
Obligations under commercial paper borrowings	4,800	0	—	—	—
Income taxes payable	9	15	44	38	58
Total current liabilities before client funds obligations	9,935	5,576	4,229	3,873	3,691
Client funds obligations	31,343	39,504	38,539	51,286	34,404
Total current liabilities	41,278	45,080	42,768	55,159	38,095
Long-term debt	3,975	2,991	2,989	2,987	2,985
Operating lease liabilities	321	329	350	371	343
Other liabilities	1,058	991	934	924	834
Deferred income taxes	164	64	74	67	483
Long-term deferred revenues	385	360	348	—	—
Total liabilities	47,181	49,815	47,462	59,843	43,102
Commitments and Contingencies (Note 13)	—	—	—	—	—
Preferred stock, $1.00 par value: Authorized, 0.3 shares; issued, none	0	0	0	0	0
Common stock, $0.10 par value: authorized,1,000.0 shares; issued, 638.7 shares at June 30, 2025 and June 30, 2024; outstanding, 405.3 and 408.1 shares at June 30, 2025 and June 30, 2024, respectively	64	64	64	64	64
Capital in excess of par value	2,788	2,407	2,102	1,794	1,531
Retained earnings	25,241	23,622	22,118	20,696	19,451
Treasury stock - at cost: 233.4 and 230.6 shares at June 30, 2025 and June 30, 2024, respectively	−21,021	−19,737	−18,469	−17,335	−15,387
Accumulated other comprehensive (loss)/income	−883	−1,808	−2,306	−1,994	11
Total stockholders equity	6,188	4,548	3,509	3,225	5,670
Total liabilities and stockholders equity	53,369	54,363	50,971	63,068	48,773

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	582	562	549	515	511
Amortization of deferred contract costs	1,145	1,068	993	955	935
Deferred income taxes	37	−37	−80	37	—
Stock-based compensation expense	266	244	220	202	175
Bad debt expense	53	55	44	3	—
Net pension income	−20	−23	−43	−53	−53
Net accretion of discounts and amortization of premiums on available-for-sale securities	−72	−43	23	101	70
Other	13	−2	27	30	—
(Increase)/decrease in accounts receivable	−147	−484	129	−487	−340
Increase in deferred contract costs	−1,290	−1,271	−1,189	−1,101	—
Increase in other assets	−60	−157	−168	−157	−1,029
Increase/(decrease) in accounts payable	61	2	−12	−16	37
Increase in accrued expenses and other liabilities	291	493	301	123	395
Net cash flows provided by operating activities	4,940	4,158	4,208	3,100	3,093
Purchases of corporate and client funds marketable securities	−7,858	−6,835	−6,619	−10,733	−9,266
Proceeds from the sales and maturities of corporate and client funds marketable securities	6,539	6,040	4,706	—	—
Capital expenditures	−169	−208	−206	−174	−179
Additions to intangibles	−378	−355	−365	−379	−327
Acquisitions of businesses, net of cash acquired	−1,165	−34	−32	−12	0
Proceeds from the sale of property, plant, and equipment and other assets	11	28	0	34	19
Other	−15	−25	0	0	—
Net cash flows used in investing activities	−3,035	−1,389	−2,517	−7,014	−3,515
Net (decrease)/increase in client funds obligations	−8,274	1,014	−12,702	—	—
Net cash (distributed)/received from the Internal Revenue Service	−552	603	0	—	—
Payments of debt	−1,001	−900,000	−1	−900,000	−1,002
Proceeds from the issuance of debt	1,980	0	0	0	1,982
Settlement of cash flow hedges	−16	0	0	0	−45
Repurchases of common stock	−1,281	−1,232	−1,121	−1,969	−1,372
Net proceeds from stock purchase plan and stock-based compensation plans	131	47	92	—	—
Dividends paid	−2,399	−2,183	−1,904	−1,659	−1,576
Net (payments)/proceeds related to reverse repurchase agreements	−332	320	−45	—	—
Net proceeds from issuance of commercial paper	4,770	0	0	—	—
Net cash flows used in financing activities	−6,973	−1,432	−15,681	13,653	6,438
Effect of exchange rate changes on cash, cash equivalents, restricted cash, and restricted cash equivalents	37	−22	−21	−99	74
Net change in cash, cash equivalents, restricted cash, and restricted cash equivalents	−5,031	1,315	−14,012	9,640	6,090
Cash paid for interest	427	354	247	75	53
Cash paid for income taxes, net of income tax refunds	1,198	1,185	1,081	857	974

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro