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Side-by-side financial comparison of Automatic Data Processing (ADP) and NCR Atleos Corp (NATL). Click either name above to swap in a different company.
Automatic Data Processing is the larger business by last-quarter revenue ($5.4B vs $1.2B, roughly 4.7× NCR Atleos Corp). Automatic Data Processing runs the higher net margin — 19.8% vs 7.2%, a 12.6% gap on every dollar of revenue. On growth, Automatic Data Processing posted the faster year-over-year revenue change (6.2% vs 4.0%). Over the past eight quarters, NCR Atleos Corp's revenue compounded faster (4.9% 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.
NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and electronic products. It manufactured self-service kiosks, point-of-sale terminals, automated teller machines, check processing systems, and barcode scanners.
ADP vs NATL — Head-to-Head
Income Statement — Q2 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $1.2B |
| Net Profit | $1.1B | $83.0M |
| Gross Margin | 46.1% | — |
| Operating Margin | 25.8% | 13.5% |
| Net Margin | 19.8% | 7.2% |
| Revenue YoY | 6.2% | 4.0% |
| Net Profit YoY | 10.3% | 102.4% |
| EPS (diluted) | $2.62 | $1.09 |
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 | $1.2B | ||
| Q3 25 | $5.2B | $1.1B | ||
| Q2 25 | $5.1B | $1.1B | ||
| Q1 25 | $5.6B | $979.0M | ||
| Q4 24 | $5.0B | $1.1B | ||
| Q3 24 | $4.8B | $1.1B | ||
| Q2 24 | $4.8B | $1.1B | ||
| Q1 24 | $5.3B | $1.0B |
| Q4 25 | $1.1B | $83.0M | ||
| Q3 25 | $1.0B | $26.0M | ||
| Q2 25 | $910.7M | $39.0M | ||
| Q1 25 | $1.2B | $14.0M | ||
| Q4 24 | $963.2M | $41.0M | ||
| Q3 24 | $956.3M | $21.0M | ||
| Q2 24 | $829.3M | $27.0M | ||
| Q1 24 | $1.2B | $-9.0M |
| 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% | 13.5% | ||
| Q3 25 | 25.3% | 9.8% | ||
| Q2 25 | 23.2% | 10.8% | ||
| Q1 25 | 29.2% | 9.5% | ||
| Q4 24 | 25.0% | 13.4% | ||
| Q3 24 | 25.6% | 10.6% | ||
| Q2 24 | 22.8% | 9.8% | ||
| Q1 24 | 29.4% | 6.5% |
| Q4 25 | 19.8% | 7.2% | ||
| Q3 25 | 19.6% | 2.3% | ||
| Q2 25 | 17.8% | 3.5% | ||
| Q1 25 | 22.5% | 1.4% | ||
| Q4 24 | 19.1% | 3.7% | ||
| Q3 24 | 19.8% | 2.0% | ||
| Q2 24 | 17.4% | 2.5% | ||
| Q1 24 | 22.6% | -0.9% |
| Q4 25 | $2.62 | $1.09 | ||
| Q3 25 | $2.49 | $0.34 | ||
| Q2 25 | $2.23 | $0.52 | ||
| Q1 25 | $3.06 | $0.19 | ||
| Q4 24 | $2.35 | $0.56 | ||
| Q3 24 | $2.34 | $0.28 | ||
| Q2 24 | $2.01 | $0.37 | ||
| Q1 24 | $2.88 | $-0.13 |
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 | $456.0M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | $6.4B | $403.0M |
| Total Assets | $84.6B | $5.7B |
| Debt / EquityLower = less leverage | — | 6.63× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.5B | $456.0M | ||
| Q3 25 | $7.9B | $412.0M | ||
| Q2 25 | $7.8B | $357.0M | ||
| Q1 25 | $2.7B | $352.0M | ||
| Q4 24 | $2.2B | $419.0M | ||
| Q3 24 | $7.3B | $395.0M | ||
| Q2 24 | $3.3B | $374.0M | ||
| Q1 24 | $3.3B | $343.0M |
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $6.4B | $403.0M | ||
| Q3 25 | $6.4B | $330.0M | ||
| Q2 25 | $6.2B | $350.0M | ||
| Q1 25 | $5.9B | $275.0M | ||
| Q4 24 | $5.1B | $219.0M | ||
| Q3 24 | $5.3B | $264.0M | ||
| Q2 24 | $4.5B | $250.0M | ||
| Q1 24 | $4.6B | $283.0M |
| Q4 25 | $84.6B | $5.7B | ||
| Q3 25 | $54.3B | $5.7B | ||
| Q2 25 | $53.4B | $5.8B | ||
| Q1 25 | $56.4B | $5.7B | ||
| Q4 24 | $64.1B | $5.5B | ||
| Q3 24 | $49.5B | $5.7B | ||
| Q2 24 | $54.4B | $5.8B | ||
| Q1 24 | $64.2B | $5.8B |
| Q4 25 | — | 6.63× | ||
| Q3 25 | — | 8.45× | ||
| Q2 25 | — | 8.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 13.05× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $1.1B | $231.0M |
| Free Cash FlowOCF − Capex | — | $194.0M |
| FCF MarginFCF / Revenue | — | 16.8% |
| Capex IntensityCapex / Revenue | — | 3.2% |
| Cash ConversionOCF / Net Profit | 1.07× | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | — | $239.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $231.0M | ||
| Q3 25 | $642.3M | $25.0M | ||
| Q2 25 | $1.4B | $-23.0M | ||
| Q1 25 | $1.5B | $123.0M | ||
| Q4 24 | $1.2B | $80.0M | ||
| Q3 24 | $824.4M | $107.0M | ||
| Q2 24 | $1.3B | $9.0M | ||
| Q1 24 | $1.5B | $148.0M |
| Q4 25 | — | $194.0M | ||
| Q3 25 | — | $-5.0M | ||
| Q2 25 | — | $-44.0M | ||
| Q1 25 | — | $94.0M | ||
| Q4 24 | — | $62.0M | ||
| Q3 24 | — | $85.0M | ||
| Q2 24 | — | $-14.0M | ||
| Q1 24 | — | $124.0M |
| Q4 25 | — | 16.8% | ||
| Q3 25 | — | -0.4% | ||
| Q2 25 | — | -4.0% | ||
| Q1 25 | — | 9.6% | ||
| Q4 24 | — | 5.6% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | — | -1.3% | ||
| Q1 24 | — | 11.9% |
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 2.7% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 2.3% |
| Q4 25 | 1.07× | 2.78× | ||
| Q3 25 | 0.63× | 0.96× | ||
| Q2 25 | 1.58× | -0.59× | ||
| Q1 25 | 1.22× | 8.79× | ||
| Q4 24 | 1.19× | 1.95× | ||
| Q3 24 | 0.86× | 5.10× | ||
| Q2 24 | 1.57× | 0.33× | ||
| 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% |
NATL
| Services | $848.0M | 74% |
| APJ | $136.0M | 12% |
| Americas Excluding United States | $135.0M | 12% |
| TT | $44.0M | 4% |
