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Side-by-side financial comparison of Automatic Data Processing (ADP) and Danaher Corporation (DHR). Click either name above to swap in a different company.
Danaher Corporation is the larger business by last-quarter revenue ($6.0B vs $5.4B, roughly 1.1× Automatic Data Processing). Automatic Data Processing runs the higher net margin — 19.8% vs 17.3%, a 2.5% gap on every dollar of revenue. On growth, Automatic Data Processing posted the faster year-over-year revenue change (6.2% vs 3.7%). Over the past eight quarters, Danaher Corporation's revenue compounded faster (1.8% 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.
Danaher CorporationDHREarnings & Financial Report
Danaher Corporation is an American healthcare company headquartered in Washington, D.C.. It develops products used for advances in biotechnology, life sciences, and diagnostics. The company operates three divisions: biotechnology, which develops products for the development of therapeutics; life sciences, which develops products to identify causes of disease, new therapies, and to test and manufacture new drugs, vaccines and gene editing technologies; and diagnostics, which develops instruments,...
ADP vs DHR — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $6.0B |
| Net Profit | $1.1B | $1.0B |
| Gross Margin | 46.1% | 60.3% |
| Operating Margin | 25.8% | 22.6% |
| Net Margin | 19.8% | 17.3% |
| Revenue YoY | 6.2% | 3.7% |
| Net Profit YoY | 10.3% | 7.9% |
| EPS (diluted) | $2.62 | $1.45 |
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.
| Q1 26 | — | $6.0B | ||
| Q4 25 | $5.4B | $6.8B | ||
| Q3 25 | $5.2B | $6.1B | ||
| Q2 25 | $5.1B | $5.9B | ||
| Q1 25 | $5.6B | $5.7B | ||
| Q4 24 | $5.0B | $6.5B | ||
| Q3 24 | $4.8B | $5.8B | ||
| Q2 24 | $4.8B | $5.7B |
| Q1 26 | — | $1.0B | ||
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.0B | $908.0M | ||
| Q2 25 | $910.7M | $555.0M | ||
| Q1 25 | $1.2B | $954.0M | ||
| Q4 24 | $963.2M | $1.1B | ||
| Q3 24 | $956.3M | $818.0M | ||
| Q2 24 | $829.3M | $907.0M |
| Q1 26 | — | 60.3% | ||
| Q4 25 | 46.1% | 58.0% | ||
| Q3 25 | 45.2% | 58.2% | ||
| Q2 25 | 45.1% | 59.3% | ||
| Q1 25 | 47.7% | 61.2% | ||
| Q4 24 | 45.7% | 59.5% | ||
| Q3 24 | 45.5% | 58.7% | ||
| Q2 24 | 44.8% | 59.7% |
| Q1 26 | — | 22.6% | ||
| Q4 25 | 25.8% | 22.0% | ||
| Q3 25 | 25.3% | 19.1% | ||
| Q2 25 | 23.2% | 12.8% | ||
| Q1 25 | 29.2% | 22.2% | ||
| Q4 24 | 25.0% | 21.8% | ||
| Q3 24 | 25.6% | 16.5% | ||
| Q2 24 | 22.8% | 20.3% |
| Q1 26 | — | 17.3% | ||
| Q4 25 | 19.8% | 17.5% | ||
| Q3 25 | 19.6% | 15.0% | ||
| Q2 25 | 17.8% | 9.3% | ||
| Q1 25 | 22.5% | 16.6% | ||
| Q4 24 | 19.1% | 16.6% | ||
| Q3 24 | 19.8% | 14.1% | ||
| Q2 24 | 17.4% | 15.8% |
| Q1 26 | — | $1.45 | ||
| Q4 25 | $2.62 | $1.69 | ||
| Q3 25 | $2.49 | $1.27 | ||
| Q2 25 | $2.23 | $0.77 | ||
| Q1 25 | $3.06 | $1.32 | ||
| Q4 24 | $2.35 | $1.50 | ||
| Q3 24 | $2.34 | $1.12 | ||
| Q2 24 | $2.01 | $1.22 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $6.4B | — |
| Total Assets | $84.6B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $7.9B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $3.3B | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $18.4B | ||
| Q3 25 | — | $16.9B | ||
| Q2 25 | — | $17.4B | ||
| Q1 25 | — | $16.5B | ||
| Q4 24 | — | $16.0B | ||
| Q3 24 | — | $17.5B | ||
| Q2 24 | — | $17.0B |
| Q1 26 | — | — | ||
| Q4 25 | $6.4B | $52.5B | ||
| Q3 25 | $6.4B | $51.1B | ||
| Q2 25 | $6.2B | $52.3B | ||
| Q1 25 | $5.9B | $50.8B | ||
| Q4 24 | $5.1B | $49.5B | ||
| Q3 24 | $5.3B | $51.3B | ||
| Q2 24 | $4.5B | $49.9B |
| Q1 26 | — | — | ||
| Q4 25 | $84.6B | $83.5B | ||
| Q3 25 | $54.3B | $79.9B | ||
| Q2 25 | $53.4B | $81.6B | ||
| Q1 25 | $56.4B | $79.1B | ||
| Q4 24 | $64.1B | $77.5B | ||
| Q3 24 | $49.5B | $80.6B | ||
| Q2 24 | $54.4B | $78.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.33× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.32× | ||
| Q4 24 | — | 0.32× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.34× |
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 | $1.3B |
| Free Cash FlowOCF − Capex | — | $1.1B |
| FCF MarginFCF / Revenue | — | 18.2% |
| Capex IntensityCapex / Revenue | — | 4.0% |
| Cash ConversionOCF / Net Profit | 1.07× | 1.28× |
| TTM Free Cash FlowTrailing 4 quarters | — | $5.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.3B | ||
| Q4 25 | $1.1B | $2.1B | ||
| Q3 25 | $642.3M | $1.7B | ||
| Q2 25 | $1.4B | $1.3B | ||
| Q1 25 | $1.5B | $1.3B | ||
| Q4 24 | $1.2B | $2.0B | ||
| Q3 24 | $824.4M | $1.5B | ||
| Q2 24 | $1.3B | $1.4B |
| Q1 26 | — | $1.1B | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.1B |
| Q1 26 | — | 18.2% | ||
| Q4 25 | — | 25.5% | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 18.4% | ||
| Q4 24 | — | 23.0% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 19.7% |
| Q1 26 | — | 4.0% | ||
| Q4 25 | — | 5.4% | ||
| Q3 25 | — | 4.8% | ||
| Q2 25 | — | 4.2% | ||
| Q1 25 | — | 4.3% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | — | 5.1% | ||
| Q2 24 | — | 5.0% |
| Q1 26 | — | 1.28× | ||
| Q4 25 | 1.07× | 1.77× | ||
| Q3 25 | 0.63× | 1.83× | ||
| Q2 25 | 1.58× | 2.41× | ||
| Q1 25 | 1.22× | 1.36× | ||
| Q4 24 | 1.19× | 1.86× | ||
| Q3 24 | 0.86× | 1.85× | ||
| Q2 24 | 1.57× | 1.56× |
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% |
DHR
Segment breakdown not available.
