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Side-by-side financial comparison of Automatic Data Processing (ADP) and DONALDSON Co INC (DCI). Click either name above to swap in a different company.
Automatic Data Processing is the larger business by last-quarter revenue ($5.4B vs $935.4M, roughly 5.7× DONALDSON Co INC). Automatic Data Processing runs the higher net margin — 19.8% vs 12.2%, a 7.6% gap on every dollar of revenue. On growth, Automatic Data Processing posted the faster year-over-year revenue change (6.2% vs 3.9%). Over the past eight quarters, DONALDSON Co INC's revenue compounded faster (3.3% CAGR vs 1.0%).
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.
Donaldson Company, Inc. is a filtration company engaged in the production and marketing of filtration products used in a variety of industry sectors, including commercial/industrial, aerospace, chemical, alternative energy (windmills), food & beverage, and pharmaceuticals. Also the company's research division, located in Minneapolis, Minn., participated in defense-related projects for various military applications.
ADP vs DCI — Head-to-Head
Income Statement — Q2 2026 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $935.4M |
| Net Profit | $1.1B | $113.9M |
| Gross Margin | 46.1% | 35.2% |
| Operating Margin | 25.8% | 16.0% |
| Net Margin | 19.8% | 12.2% |
| Revenue YoY | 6.2% | 3.9% |
| Net Profit YoY | 10.3% | 15.1% |
| EPS (diluted) | $2.62 | $0.97 |
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 | $935.4M | ||
| Q3 25 | $5.2B | $980.7M | ||
| Q2 25 | $5.1B | $940.1M | ||
| Q1 25 | $5.6B | $870.0M | ||
| Q4 24 | $5.0B | $900.1M | ||
| Q3 24 | $4.8B | $935.4M | ||
| Q2 24 | $4.8B | $927.9M | ||
| Q1 24 | $5.3B | $876.7M |
| Q4 25 | $1.1B | $113.9M | ||
| Q3 25 | $1.0B | $114.3M | ||
| Q2 25 | $910.7M | $57.8M | ||
| Q1 25 | $1.2B | $95.9M | ||
| Q4 24 | $963.2M | $99.0M | ||
| Q3 24 | $956.3M | $109.7M | ||
| Q2 24 | $829.3M | $113.5M | ||
| Q1 24 | $1.2B | $98.7M |
| Q4 25 | 46.1% | 35.2% | ||
| Q3 25 | 45.2% | 34.5% | ||
| Q2 25 | 45.1% | 34.2% | ||
| Q1 25 | 47.7% | 35.2% | ||
| Q4 24 | 45.7% | 35.5% | ||
| Q3 24 | 45.5% | 35.8% | ||
| Q2 24 | 44.8% | 35.6% | ||
| Q1 24 | 47.3% | 35.2% |
| Q4 25 | 25.8% | 16.0% | ||
| Q3 25 | 25.3% | 15.5% | ||
| Q2 25 | 23.2% | 9.3% | ||
| Q1 25 | 29.2% | 14.4% | ||
| Q4 24 | 25.0% | 14.5% | ||
| Q3 24 | 25.6% | 15.6% | ||
| Q2 24 | 22.8% | 15.5% | ||
| Q1 24 | 29.4% | 14.8% |
| Q4 25 | 19.8% | 12.2% | ||
| Q3 25 | 19.6% | 11.7% | ||
| Q2 25 | 17.8% | 6.1% | ||
| Q1 25 | 22.5% | 11.0% | ||
| Q4 24 | 19.1% | 11.0% | ||
| Q3 24 | 19.8% | 11.7% | ||
| Q2 24 | 17.4% | 12.2% | ||
| Q1 24 | 22.6% | 11.3% |
| Q4 25 | $2.62 | $0.97 | ||
| Q3 25 | $2.49 | $0.97 | ||
| Q2 25 | $2.23 | $0.48 | ||
| Q1 25 | $3.06 | $0.79 | ||
| Q4 24 | $2.35 | $0.81 | ||
| Q3 24 | $2.34 | $0.90 | ||
| Q2 24 | $2.01 | $0.92 | ||
| Q1 24 | $2.88 | $0.81 |
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 | $210.7M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | $6.4B | $1.5B |
| Total Assets | $84.6B | $3.0B |
| Debt / EquityLower = less leverage | — | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.5B | $210.7M | ||
| Q3 25 | $7.9B | $180.4M | ||
| Q2 25 | $7.8B | $178.5M | ||
| Q1 25 | $2.7B | $189.1M | ||
| Q4 24 | $2.2B | $221.2M | ||
| Q3 24 | $7.3B | $232.7M | ||
| Q2 24 | $3.3B | $223.7M | ||
| Q1 24 | $3.3B | $193.8M |
| Q4 25 | — | $671.5M | ||
| Q3 25 | — | $630.4M | ||
| Q2 25 | — | $638.8M | ||
| Q1 25 | — | $514.7M | ||
| Q4 24 | — | $538.6M | ||
| Q3 24 | — | $483.4M | ||
| Q2 24 | — | $481.8M | ||
| Q1 24 | — | $352.0M |
| Q4 25 | $6.4B | $1.5B | ||
| Q3 25 | $6.4B | $1.5B | ||
| Q2 25 | $6.2B | $1.5B | ||
| Q1 25 | $5.9B | $1.5B | ||
| Q4 24 | $5.1B | $1.5B | ||
| Q3 24 | $5.3B | $1.5B | ||
| Q2 24 | $4.5B | $1.5B | ||
| Q1 24 | $4.6B | $1.4B |
| Q4 25 | $84.6B | $3.0B | ||
| Q3 25 | $54.3B | $3.0B | ||
| Q2 25 | $53.4B | $3.0B | ||
| Q1 25 | $56.4B | $3.0B | ||
| Q4 24 | $64.1B | $3.0B | ||
| Q3 24 | $49.5B | $2.9B | ||
| Q2 24 | $54.4B | $2.9B | ||
| Q1 24 | $64.2B | $2.8B |
| Q4 25 | — | 0.44× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | — | 0.32× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.26× |
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 | $125.4M |
| Free Cash FlowOCF − Capex | — | $111.2M |
| FCF MarginFCF / Revenue | — | 11.9% |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 1.07× | 1.10× |
| TTM Free Cash FlowTrailing 4 quarters | — | $403.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $125.4M | ||
| Q3 25 | $642.3M | $167.8M | ||
| Q2 25 | $1.4B | $87.7M | ||
| Q1 25 | $1.5B | $90.4M | ||
| Q4 24 | $1.2B | $72.9M | ||
| Q3 24 | $824.4M | $126.0M | ||
| Q2 24 | $1.3B | $141.5M | ||
| Q1 24 | $1.5B | $87.0M |
| Q4 25 | — | $111.2M | ||
| Q3 25 | — | $147.5M | ||
| Q2 25 | — | $73.0M | ||
| Q1 25 | — | $71.5M | ||
| Q4 24 | — | $47.9M | ||
| Q3 24 | — | $106.2M | ||
| Q2 24 | — | $120.2M | ||
| Q1 24 | — | $65.7M |
| Q4 25 | — | 11.9% | ||
| Q3 25 | — | 15.0% | ||
| Q2 25 | — | 7.8% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | — | 11.4% | ||
| Q2 24 | — | 13.0% | ||
| Q1 24 | — | 7.5% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 2.8% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.3% | ||
| Q1 24 | — | 2.4% |
| Q4 25 | 1.07× | 1.10× | ||
| Q3 25 | 0.63× | 1.47× | ||
| Q2 25 | 1.58× | 1.52× | ||
| Q1 25 | 1.22× | 0.94× | ||
| Q4 24 | 1.19× | 0.74× | ||
| Q3 24 | 0.86× | 1.15× | ||
| Q2 24 | 1.57× | 1.25× | ||
| Q1 24 | 1.26× | 0.88× |
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% |
DCI
| Aftermarket Products | $447.1M | 48% |
| Industrial Filtration Solutions Products | $222.6M | 24% |
| Off Road Products | $86.5M | 9% |
| Life Sciences Segment | $80.0M | 9% |
| Other | $39.1M | 4% |
| Aerospace And Defense Products | $37.1M | 4% |
| On Road Products | $23.0M | 2% |
