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Side-by-side financial comparison of Automatic Data Processing (ADP) and Canadian Solar Inc. (CSIQ). Click either name above to swap in a different company.
Automatic Data Processing is the larger business by last-quarter revenue ($5.4B vs $4.5B, roughly 1.2× Canadian Solar Inc.). Automatic Data Processing runs the higher net margin — 19.8% vs 1.3%, a 18.5% gap on every dollar of revenue.
Automatic Data Processing, Inc. (ADP) is an American multinational provider of cloud-based human resources management, payroll processing, and professional employer organization (PEO) services, headquartered in Roseland, New Jersey.
Canadian Solar Inc. is a global renewable energy company. Headquartered in Kitchener, Ontario, the company manufactures solar PV modules, provides battery energy storage solutions and develops utility-scale solar power and battery energy storage projects.
ADP vs CSIQ — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $4.5B |
| Net Profit | $1.1B | $57.6M |
| Gross Margin | 46.1% | 17.5% |
| Operating Margin | 25.8% | 2.2% |
| Net Margin | 19.8% | 1.3% |
| Revenue YoY | 6.2% | — |
| Net Profit YoY | 10.3% | — |
| EPS (diluted) | $2.62 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $5.4B | — | ||
| Q3 25 | $5.2B | $4.5B | ||
| Q2 25 | $5.1B | $3.0B | ||
| Q1 25 | $5.6B | $1.3B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.8B | $5.9B | ||
| Q2 24 | $4.8B | $4.1B | ||
| Q1 24 | $5.3B | — |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.0B | $57.6M | ||
| Q2 25 | $910.7M | $63.6M | ||
| Q1 25 | $1.2B | $36.2M | ||
| Q4 24 | $963.2M | — | ||
| Q3 24 | $956.3M | $366.8M | ||
| Q2 24 | $829.3M | $304.4M | ||
| Q1 24 | $1.2B | — |
| Q4 25 | 46.1% | — | ||
| Q3 25 | 45.2% | 17.5% | ||
| Q2 25 | 45.1% | 18.0% | ||
| Q1 25 | 47.7% | 19.0% | ||
| Q4 24 | 45.7% | — | ||
| Q3 24 | 45.5% | 18.0% | ||
| Q2 24 | 44.8% | 18.7% | ||
| Q1 24 | 47.3% | — |
| Q4 25 | 25.8% | — | ||
| Q3 25 | 25.3% | 2.2% | ||
| Q2 25 | 23.2% | 3.3% | ||
| Q1 25 | 29.2% | 3.7% | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | 25.6% | 7.7% | ||
| Q2 24 | 22.8% | 9.1% | ||
| Q1 24 | 29.4% | — |
| Q4 25 | 19.8% | — | ||
| Q3 25 | 19.6% | 1.3% | ||
| Q2 25 | 17.8% | 2.1% | ||
| Q1 25 | 22.5% | 2.7% | ||
| Q4 24 | 19.1% | — | ||
| Q3 24 | 19.8% | 6.2% | ||
| Q2 24 | 17.4% | 7.5% | ||
| Q1 24 | 22.6% | — |
| Q4 25 | $2.62 | — | ||
| Q3 25 | $2.49 | — | ||
| Q2 25 | $2.23 | — | ||
| Q1 25 | $3.06 | — | ||
| Q4 24 | $2.35 | — | ||
| Q3 24 | $2.34 | — | ||
| Q2 24 | $2.01 | — | ||
| Q1 24 | $2.88 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.5B | $1.7B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $6.4B | $3.9B |
| Total Assets | $84.6B | $13.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.5B | — | ||
| Q3 25 | $7.9B | $1.7B | ||
| Q2 25 | $7.8B | $1.7B | ||
| Q1 25 | $2.7B | $1.7B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $7.3B | $1.9B | ||
| Q2 24 | $3.3B | $1.9B | ||
| Q1 24 | $3.3B | — |
| Q4 25 | $6.4B | — | ||
| Q3 25 | $6.4B | $3.9B | ||
| Q2 25 | $6.2B | $3.9B | ||
| Q1 25 | $5.9B | $3.9B | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.3B | $3.7B | ||
| Q2 24 | $4.5B | $3.7B | ||
| Q1 24 | $4.6B | — |
| Q4 25 | $84.6B | — | ||
| Q3 25 | $54.3B | $13.5B | ||
| Q2 25 | $53.4B | $13.5B | ||
| Q1 25 | $56.4B | $13.5B | ||
| Q4 24 | $64.1B | — | ||
| Q3 24 | $49.5B | $11.9B | ||
| Q2 24 | $54.4B | $11.9B | ||
| Q1 24 | $64.2B | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.1B | $-187.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 1.07× | -3.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | — | ||
| Q3 25 | $642.3M | $-187.7M | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $824.4M | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.5B | — |
| Q4 25 | 1.07× | — | ||
| Q3 25 | 0.63× | -3.26× | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.19× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 1.57× | — | ||
| Q1 24 | 1.26× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADP
| HCM | $2.2B | 42% |
| PEO Zero Margin Benefits Pass Throughs | $1.1B | 21% |
| HRO | $979.3M | 18% |
| Global | $709.3M | 13% |
| Interest On Funds Held For Clients | $308.6M | 6% |
CSIQ
Segment breakdown not available.
