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Side-by-side financial comparison of Automatic Data Processing (ADP) and FTAI Infrastructure Inc. (FIP). Click either name above to swap in a different company.
Automatic Data Processing is the larger business by last-quarter revenue ($5.4B vs $143.5M, roughly 37.3× FTAI Infrastructure Inc.). Automatic Data Processing runs the higher net margin — 19.8% vs -68.1%, a 87.9% gap on every dollar of revenue. On growth, FTAI Infrastructure Inc. posted the faster year-over-year revenue change (77.7% vs 6.2%). Over the past eight quarters, FTAI Infrastructure Inc.'s revenue compounded faster (31.9% 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.
FTAI Infrastructure Inc. owns, operates and invests in high-quality critical infrastructure assets across core sectors including transportation logistics, midstream energy, and power generation. It primarily serves North American markets, focusing on assets with stable long-term cash flows, contracted revenue streams, and strong market positions to deliver sustainable returns for stakeholders.
ADP vs FIP — Head-to-Head
Income Statement — Q2 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $143.5M |
| Net Profit | $1.1B | $-97.7M |
| Gross Margin | 46.1% | — |
| Operating Margin | 25.8% | -45.7% |
| Net Margin | 19.8% | -68.1% |
| Revenue YoY | 6.2% | 77.7% |
| Net Profit YoY | 10.3% | 21.6% |
| EPS (diluted) | $2.62 | $-1.04 |
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 | $143.5M | ||
| Q3 25 | $5.2B | $140.6M | ||
| Q2 25 | $5.1B | $122.3M | ||
| Q1 25 | $5.6B | $96.2M | ||
| Q4 24 | $5.0B | $80.8M | ||
| Q3 24 | $4.8B | $83.3M | ||
| Q2 24 | $4.8B | $84.9M | ||
| Q1 24 | $5.3B | $82.5M |
| Q4 25 | $1.1B | $-97.7M | ||
| Q3 25 | $1.0B | $-104.5M | ||
| Q2 25 | $910.7M | $-70.0M | ||
| Q1 25 | $1.2B | $120.2M | ||
| Q4 24 | $963.2M | $-124.7M | ||
| Q3 24 | $956.3M | $-43.0M | ||
| Q2 24 | $829.3M | $-48.1M | ||
| Q1 24 | $1.2B | $-50.3M |
| Q4 25 | 46.1% | — | ||
| Q3 25 | 45.2% | — | ||
| Q2 25 | 45.1% | — | ||
| Q1 25 | 47.7% | — | ||
| Q4 24 | 45.7% | — | ||
| Q3 24 | 45.5% | — | ||
| Q2 24 | 44.8% | — | ||
| Q1 24 | 47.3% | — |
| Q4 25 | 25.8% | -45.7% | ||
| Q3 25 | 25.3% | -70.8% | ||
| Q2 25 | 23.2% | -56.4% | ||
| Q1 25 | 29.2% | 81.8% | ||
| Q4 24 | 25.0% | -152.7% | ||
| Q3 24 | 25.6% | -51.7% | ||
| Q2 24 | 22.8% | -56.4% | ||
| Q1 24 | 29.4% | -58.8% |
| Q4 25 | 19.8% | -68.1% | ||
| Q3 25 | 19.6% | -74.4% | ||
| Q2 25 | 17.8% | -57.2% | ||
| Q1 25 | 22.5% | 125.0% | ||
| Q4 24 | 19.1% | -154.4% | ||
| Q3 24 | 19.8% | -51.6% | ||
| Q2 24 | 17.4% | -56.7% | ||
| Q1 24 | 22.6% | -60.9% |
| Q4 25 | $2.62 | $-1.04 | ||
| Q3 25 | $2.49 | $-1.38 | ||
| Q2 25 | $2.23 | $-0.73 | ||
| Q1 25 | $3.06 | $0.89 | ||
| Q4 24 | $2.35 | $-1.21 | ||
| Q3 24 | $2.34 | $-0.45 | ||
| Q2 24 | $2.01 | $-0.52 | ||
| Q1 24 | $2.88 | $-0.54 |
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 | $57.4M |
| Total DebtLower is stronger | — | $3.8B |
| Stockholders' EquityBook value | $6.4B | $21.3M |
| Total Assets | $84.6B | $5.7B |
| Debt / EquityLower = less leverage | — | 176.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.5B | $57.4M | ||
| Q3 25 | $7.9B | $34.7M | ||
| Q2 25 | $7.8B | $33.6M | ||
| Q1 25 | $2.7B | $26.3M | ||
| Q4 24 | $2.2B | $27.8M | ||
| Q3 24 | $7.3B | $20.3M | ||
| Q2 24 | $3.3B | $33.1M | ||
| Q1 24 | $3.3B | $23.0M |
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $6.4B | $21.3M | ||
| Q3 25 | $6.4B | $181.1M | ||
| Q2 25 | $6.2B | $375.5M | ||
| Q1 25 | $5.9B | $476.2M | ||
| Q4 24 | $5.1B | $202.7M | ||
| Q3 24 | $5.3B | $370.8M | ||
| Q2 24 | $4.5B | $394.8M | ||
| Q1 24 | $4.6B | $402.5M |
| Q4 25 | $84.6B | $5.7B | ||
| Q3 25 | $54.3B | $5.5B | ||
| Q2 25 | $53.4B | $4.4B | ||
| Q1 25 | $56.4B | $4.1B | ||
| Q4 24 | $64.1B | $2.4B | ||
| Q3 24 | $49.5B | $2.4B | ||
| Q2 24 | $54.4B | $2.5B | ||
| Q1 24 | $64.2B | $2.3B |
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 3.34× |
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 | $-2.8M |
| Free Cash FlowOCF − Capex | — | $-68.6M |
| FCF MarginFCF / Revenue | — | -47.8% |
| Capex IntensityCapex / Revenue | — | 45.9% |
| Cash ConversionOCF / Net Profit | 1.07× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-398.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $-2.8M | ||
| Q3 25 | $642.3M | $-24.4M | ||
| Q2 25 | $1.4B | $-5.2M | ||
| Q1 25 | $1.5B | $-85.7M | ||
| Q4 24 | $1.2B | $-8.1M | ||
| Q3 24 | $824.4M | $14.2M | ||
| Q2 24 | $1.3B | $-17.6M | ||
| Q1 24 | $1.5B | $-3.9M |
| Q4 25 | — | $-68.6M | ||
| Q3 25 | — | $-90.7M | ||
| Q2 25 | — | $-87.5M | ||
| Q1 25 | — | $-151.7M | ||
| Q4 24 | — | $-34.3M | ||
| Q3 24 | — | $-11.7M | ||
| Q2 24 | — | $-32.1M | ||
| Q1 24 | — | $-16.7M |
| Q4 25 | — | -47.8% | ||
| Q3 25 | — | -64.5% | ||
| Q2 25 | — | -71.6% | ||
| Q1 25 | — | -157.7% | ||
| Q4 24 | — | -42.4% | ||
| Q3 24 | — | -14.0% | ||
| Q2 24 | — | -37.9% | ||
| Q1 24 | — | -20.3% |
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 67.3% | ||
| Q1 25 | — | 68.6% | ||
| Q4 24 | — | 32.5% | ||
| Q3 24 | — | 31.1% | ||
| Q2 24 | — | 17.2% | ||
| Q1 24 | — | 15.6% |
| Q4 25 | 1.07× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.22× | -0.71× | ||
| 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% |
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
