Automatic Data Processing
ADP · Human Resource & Employment Services
$304.16
1.2%Korn Ferry
KFY · Human Resource & Employment Services
$78.30
2.6%The short version
- Automatic Data Processing is the larger business, with $21.9B of revenue in fiscal 2026 against $2.9B for Korn Ferry, about 7.5 times as much.
- Automatic Data Processing turned more of its sales into free cash flow (23.9% FCF margin, against 11.0% FCF margin).
- Automatic Data Processing earned a higher return on the capital invested in it (68.8%, against 21.9%).
- Investors pay more for each dollar of Automatic Data Processing’s earnings: a P/E of 27.8x against 14.8x for Korn Ferry.
| Latest fiscal year | ADP · FY26 | KFY · FY26 |
|---|---|---|
| Size | ||
| Market cap | $122.7B | $4.0B |
| Revenue | $21.9B | $2.9B |
| Free cash flow | $5.2B | $324M |
| Net income | $4.4B | $277M |
| Growth | ||
| Revenue growth | 6.7% | 6.4% |
| 5-year growth | 7.9% | 10.1% |
| Share count change | −1.3% | −0.5% |
| Profitability | ||
| Gross margin | 46.4% | — |
| Operating margin | — | 12.8% |
| Net margin | 20.1% | 9.4% |
| FCF margin | 23.9% | 11.0% |
| Return on capital | 68.8% | 21.9% |
| Return on equity | 72.2% | 14.5% |
| Balance sheet | ||
| Net debt | $734M | −$731M |
| Net debt / EBITDA | 0.1x | −1.5x |
| Dividends and buybacks | $4.7B | $220M |
| Valuation & quality | ||
| P/E | 27.8x | 14.8x |
| Piotroski F-score | 9 | 8 |
FY17
ADP $12.4B
KFY $1.6B
FY18
ADP $13.3B
KFY $1.8B
FY19
ADP $14.1B
KFY $2.0B
FY20
ADP $14.6B
KFY $2.0B
FY21
ADP $15.0B
KFY $1.8B
FY22
ADP $16.5B
KFY $2.6B
FY23
ADP $18.0B
KFY $2.9B
FY24
ADP $19.2B
KFY $2.8B
FY25
ADP $20.6B
KFY $2.8B
FY26
ADP $21.9B
KFY $2.9B
ADP
KFY
FY17
ADP —
KFY 7.4%
FY18
ADP —
KFY 11.5%
FY19
ADP —
KFY 7.1%
FY20
ADP —
KFY 8.9%
FY21
ADP —
KFY 8.6%
FY22
ADP —
KFY 17.8%
FY23
ADP —
KFY 11.1%
FY24
ADP —
KFY 7.6%
FY25
ADP —
KFY 12.5%
FY26
ADP —
KFY 12.8%
ADP
KFY
FY17
ADP $1.9B
KFY $56.1M
FY18
ADP $2.3B
KFY $177M
FY19
ADP $2.5B
KFY $212M
FY20
ADP $2.9B
KFY $195M
FY21
ADP $2.9B
KFY $220M
FY22
ADP $2.9B
KFY $452M
FY23
ADP $4.0B
KFY $274M
FY24
ADP $3.9B
KFY $229M
FY25
ADP $4.8B
KFY $302M
FY26
ADP $5.2B
KFY $324M
ADP
KFY
FY17
ADP —
KFY 9.9%
FY18
ADP —
KFY 14.9%
FY19
ADP —
KFY —
FY20
ADP —
KFY —
FY21
ADP 44.4%
KFY 12.6%
FY22
ADP —
KFY 40.7%
FY23
ADP —
KFY 21.9%
FY24
ADP —
KFY 14.2%
FY25
ADP 78.2%
KFY 21.2%
FY26
ADP 68.8%
KFY 21.9%
ADP
KFY
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.