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Side-by-side financial comparison of Automatic Data Processing (ADP) and Lennar (LEN). Click either name above to swap in a different company.
Lennar is the larger business by last-quarter revenue ($9.4B vs $5.9B, roughly 1.6× Automatic Data Processing). Automatic Data Processing runs the higher net margin — 22.9% vs 5.2%, a 17.7% gap on every dollar of revenue. On growth, Automatic Data Processing posted the faster year-over-year revenue change (7.0% vs -5.8%). Over the past eight quarters, Lennar's revenue compounded faster (13.2% CAGR vs 11.6%).
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.
Lennar Corporation is an American home construction company based in Miami-Dade County, Florida. As of 2025, it is the second-largest home construction company in the United States based on the number of homes sold. Lennar has investments in multifamily and single-family residential rental properties, luxury development, property technology with LenX, and mortgage lending from Lennar Mortgage.
ADP vs LEN — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.9B | $9.4B |
| Net Profit | $1.4B | $490.2M |
| Gross Margin | — | — |
| Operating Margin | — | 7.3% |
| Net Margin | 22.9% | 5.2% |
| Revenue YoY | 7.0% | -5.8% |
| Net Profit YoY | 8.4% | -55.3% |
| EPS (diluted) | $3.38 | — |
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 | $5.9B | — | ||
| Q4 25 | $5.4B | $9.4B | ||
| Q3 25 | $5.2B | $8.8B | ||
| Q2 25 | $5.1B | $8.4B | ||
| Q1 25 | $5.6B | $7.6B | ||
| Q4 24 | $5.0B | $9.9B | ||
| Q3 24 | $4.8B | $9.4B | ||
| Q2 24 | $4.8B | $8.8B |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.1B | $490.2M | ||
| Q3 25 | $1.0B | $591.0M | ||
| Q2 25 | $910.7M | $477.4M | ||
| Q1 25 | $1.2B | $519.5M | ||
| Q4 24 | $963.2M | $1.1B | ||
| Q3 24 | $956.3M | $1.2B | ||
| Q2 24 | $829.3M | $954.3M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | 25.8% | 7.3% | ||
| Q3 25 | 25.3% | 9.0% | ||
| Q2 25 | 23.2% | 7.7% | ||
| Q1 25 | 29.2% | 9.1% | ||
| Q4 24 | 25.0% | 14.7% | ||
| Q3 24 | 25.6% | 16.3% | ||
| Q2 24 | 22.8% | 14.4% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 19.8% | 5.2% | ||
| Q3 25 | 19.6% | 6.7% | ||
| Q2 25 | 17.8% | 5.7% | ||
| Q1 25 | 22.5% | 6.8% | ||
| Q4 24 | 19.1% | 11.0% | ||
| Q3 24 | 19.8% | 12.3% | ||
| Q2 24 | 17.4% | 10.9% |
| Q1 26 | $3.38 | — | ||
| Q4 25 | $2.62 | — | ||
| Q3 25 | $2.49 | $2.29 | ||
| Q2 25 | $2.23 | $1.81 | ||
| Q1 25 | $3.06 | $1.96 | ||
| Q4 24 | $2.35 | $4.03 | ||
| Q3 24 | $2.34 | $4.26 | ||
| Q2 24 | $2.01 | $3.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.2B | $3.8B |
| Total DebtLower is stronger | $4.0B | $5.9B |
| Stockholders' EquityBook value | $6.4B | $22.0B |
| Total Assets | $64.5B | $34.4B |
| Debt / EquityLower = less leverage | 0.63× | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.5B | $3.8B | ||
| Q3 25 | $7.9B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.2B | $4.9B | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $3.3B | — |
| Q1 26 | $4.0B | — | ||
| Q4 25 | — | $5.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.4B | $22.0B | ||
| Q3 25 | $6.4B | $22.6B | ||
| Q2 25 | $6.2B | $22.6B | ||
| Q1 25 | $5.9B | $22.7B | ||
| Q4 24 | $5.1B | $27.9B | ||
| Q3 24 | $5.3B | $27.4B | ||
| Q2 24 | $4.5B | $26.9B |
| Q1 26 | $64.5B | — | ||
| Q4 25 | $84.6B | $34.4B | ||
| Q3 25 | $54.3B | $34.9B | ||
| Q2 25 | $53.4B | $34.4B | ||
| Q1 25 | $56.4B | $35.0B | ||
| Q4 24 | $64.1B | $41.3B | ||
| Q3 24 | $49.5B | $39.7B | ||
| Q2 24 | $54.4B | $38.7B |
| Q1 26 | 0.63× | — | ||
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.7B |
| FCF MarginFCF / Revenue | — | 17.9% |
| Capex IntensityCapex / Revenue | 2.1% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 3.59× |
| TTM Free Cash FlowTrailing 4 quarters | — | $28.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $1.8B | ||
| Q3 25 | $642.3M | $-158.6M | ||
| Q2 25 | $1.4B | $-1.1B | ||
| Q1 25 | $1.5B | $-289.0M | ||
| Q4 24 | $1.2B | $974.5M | ||
| Q3 24 | $824.4M | $819.2M | ||
| Q2 24 | $1.3B | $241.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.7B | ||
| Q3 25 | — | $-190.8M | ||
| Q2 25 | — | $-1.1B | ||
| Q1 25 | — | $-345.1M | ||
| Q4 24 | — | $933.1M | ||
| Q3 24 | — | $800.8M | ||
| Q2 24 | — | $203.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 17.9% | ||
| Q3 25 | — | -2.2% | ||
| Q2 25 | — | -13.3% | ||
| Q1 25 | — | -4.5% | ||
| Q4 24 | — | 9.4% | ||
| Q3 24 | — | 8.5% | ||
| Q2 24 | — | 2.3% |
| Q1 26 | 2.1% | — | ||
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 0.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.07× | 3.59× | ||
| Q3 25 | 0.63× | -0.27× | ||
| Q2 25 | 1.58× | -2.29× | ||
| Q1 25 | 1.22× | -0.56× | ||
| Q4 24 | 1.19× | 0.89× | ||
| Q3 24 | 0.86× | 0.70× | ||
| Q2 24 | 1.57× | 0.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADP
| Revenues, other than interest on funds held for clients and PEO revenues | $3.6B | 61% |
| PEO revenues (A) (B) (C) | $1.9B | 32% |
| Other | $403.9M | 7% |
LEN
| Lennar Homebuilding East Central West Houstonand Other | $8.9B | 95% |
| Lennar Financial Services | $308.8M | 3% |
| Lennar Multifamily | $158.7M | 2% |
| Lennar Other | $14.8M | 0% |
| Homebuilding Other Regions | $3.9M | 0% |
