Automatic Data Processing vs Upwork
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KIRAβs take AI analyst
I put Automatic Data Processing and Upwork side by side, using each oneβs latest annual report. Here is what stands out:
- Automatic Data Processing is the larger business, with $21.9B of revenue in fiscal 2026 against $788M for Upwork, about 28 times as much.
- Automatic Data Processing grew revenue faster (6.7%, against 2.4%).
- Upwork turned more of its sales into free cash flow (30.8% FCF margin, against 23.9%).
- Automatic Data Processing earned a higher return on the capital invested in it (68.8%, against 31.0%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Automatic Data Processing
ADP
5/10
Revenue growthNet marginReturn on capitalReturn on equityPiotroski F-score
Upwork
UPWK
5/10
5-year growthGross marginFCF marginNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | ADP FY26 | UPWK FY25 |
|---|---|---|
| Size | ||
| Market cap | $121.4B | $1.2B |
| Revenue | $21.9B | $788M |
| Free cash flow | $5.2B | $242M |
| Net income | $4.4B | $115M |
| Growth | ||
| Revenue growth | 6.7% | 2.4% |
| 5-year growth | 7.9% | 16.1% |
| Share count change | β1.3% | β1.7% |
| Profitability | ||
| Gross margin | 46.4% | 77.8% |
| Operating margin | β | 16.4% |
| Net margin | 20.1% | 14.7% |
| FCF margin | 23.9% | 30.8% |
| Return on capital | 68.8% | 31.0% |
| Return on equity | 72.2% | 19.2% |
| Balance sheet | ||
| Net debt | $734M | β$313M |
| Net debt / EBITDA | 0.1x | β2.0x |
| Dividends and buybacks | $4.7B | $136M |
| Valuation & quality | ||
| P/E | β | 12.3x |
| Piotroski F-score | 9 | 6 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.