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Side-by-side financial comparison of Automatic Data Processing (ADP) and NetEase, Inc. (NTES). Click either name above to swap in a different company.
Automatic Data Processing is the larger business by last-quarter revenue ($5.4B vs $4.0B, roughly 1.3× NetEase, Inc.). NetEase, Inc. runs the higher net margin — 31.0% vs 19.8%, a 11.2% gap on every dollar of revenue. Over the past eight quarters, NetEase, Inc.'s revenue compounded faster (9.7% 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.
NetEase, Inc. is a Chinese developer and publisher of online PC and mobile games, advertising services, email services, and e-commerce platforms. It is one of the largest Internet and video game companies in the world and was founded by Ding Lei in June 1997.
ADP vs NTES — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $4.0B |
| Net Profit | $1.1B | $1.2B |
| Gross Margin | 46.1% | 64.1% |
| Operating Margin | 25.8% | 28.3% |
| Net Margin | 19.8% | 31.0% |
| Revenue YoY | 6.2% | — |
| Net Profit YoY | 10.3% | — |
| EPS (diluted) | $2.62 | — |
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 | — | ||
| Q3 25 | $5.2B | $4.0B | ||
| Q2 25 | $5.1B | $3.9B | ||
| Q1 25 | $5.6B | $4.0B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.8B | $3.7B | ||
| Q2 24 | $4.8B | $3.5B | ||
| Q1 24 | $5.3B | $3.7B |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $910.7M | $1.3B | ||
| Q1 25 | $1.2B | $1.5B | ||
| Q4 24 | $963.2M | — | ||
| Q3 24 | $956.3M | $955.7M | ||
| Q2 24 | $829.3M | $939.6M | ||
| Q1 24 | $1.2B | $1.1B |
| Q4 25 | 46.1% | — | ||
| Q3 25 | 45.2% | 64.1% | ||
| Q2 25 | 45.1% | 64.7% | ||
| Q1 25 | 47.7% | 64.1% | ||
| Q4 24 | 45.7% | — | ||
| Q3 24 | 45.5% | 62.9% | ||
| Q2 24 | 44.8% | 62.9% | ||
| Q1 24 | 47.3% | 63.4% |
| Q4 25 | 25.8% | — | ||
| Q3 25 | 25.3% | 28.3% | ||
| Q2 25 | 23.2% | 32.5% | ||
| Q1 25 | 29.2% | 36.2% | ||
| Q4 24 | 25.0% | — | ||
| Q3 24 | 25.6% | 27.3% | ||
| Q2 24 | 22.8% | 27.4% | ||
| Q1 24 | 29.4% | 28.4% |
| Q4 25 | 19.8% | — | ||
| Q3 25 | 19.6% | 31.0% | ||
| Q2 25 | 17.8% | 32.6% | ||
| Q1 25 | 22.5% | 36.6% | ||
| Q4 24 | 19.1% | — | ||
| Q3 24 | 19.8% | 25.6% | ||
| Q2 24 | 17.4% | 26.8% | ||
| Q1 24 | 22.6% | 29.1% |
| Q4 25 | $2.62 | — | ||
| Q3 25 | $2.49 | — | ||
| Q2 25 | $2.23 | — | ||
| Q1 25 | $3.06 | — | ||
| Q4 24 | $2.35 | — | ||
| Q3 24 | $2.34 | — | ||
| Q2 24 | $2.01 | — | ||
| Q1 24 | $2.88 | — |
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 | $31.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $6.4B | $160.8B |
| Total Assets | $84.6B | $214.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.5B | — | ||
| Q3 25 | $7.9B | $31.3B | ||
| Q2 25 | $7.8B | $54.4B | ||
| Q1 25 | $2.7B | $41.7B | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $7.3B | $20.2B | ||
| Q2 24 | $3.3B | $19.0B | ||
| Q1 24 | $3.3B | $43.0B |
| Q4 25 | $6.4B | — | ||
| Q3 25 | $6.4B | $160.8B | ||
| Q2 25 | $6.2B | $154.0B | ||
| Q1 25 | $5.9B | $147.8B | ||
| Q4 24 | $5.1B | — | ||
| Q3 24 | $5.3B | $135.6B | ||
| Q2 24 | $4.5B | $134.2B | ||
| Q1 24 | $4.6B | $130.5B |
| Q4 25 | $84.6B | — | ||
| Q3 25 | $54.3B | $214.5B | ||
| Q2 25 | $53.4B | $208.5B | ||
| Q1 25 | $56.4B | $200.9B | ||
| Q4 24 | $64.1B | — | ||
| Q3 24 | $49.5B | $184.9B | ||
| Q2 24 | $54.4B | $183.3B | ||
| Q1 24 | $64.2B | $195.1B |
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 | $1.8B |
| Free Cash FlowOCF − Capex | — | $1.8B |
| FCF MarginFCF / Revenue | — | 44.7% |
| Capex IntensityCapex / Revenue | — | 1.0% |
| Cash ConversionOCF / Net Profit | 1.07× | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | — | ||
| Q3 25 | $642.3M | $1.8B | ||
| Q2 25 | $1.4B | $1.5B | ||
| Q1 25 | $1.5B | $1.7B | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $824.4M | $1.5B | ||
| Q2 24 | $1.3B | $898.8M | ||
| Q1 24 | $1.5B | $1.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | $1.8B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $875.6M | ||
| Q1 24 | — | $1.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | 44.7% | ||
| Q2 25 | — | 38.3% | ||
| Q1 25 | — | 40.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 38.9% | ||
| Q2 24 | — | 25.0% | ||
| Q1 24 | — | 34.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.7% | ||
| Q1 25 | — | 1.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.5% |
| Q4 25 | 1.07× | — | ||
| Q3 25 | 0.63× | 1.47× | ||
| Q2 25 | 1.58× | 1.20× | ||
| Q1 25 | 1.22× | 1.15× | ||
| Q4 24 | 1.19× | — | ||
| Q3 24 | 0.86× | 1.58× | ||
| Q2 24 | 1.57× | 0.96× | ||
| Q1 24 | 1.26× | 1.22× |
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% |
NTES
| Games and related value-added services | $3.3B | 82% |
| NetEase Cloud Music | $275.9M | 7% |
| Youdao | $228.8M | 6% |
| Innovative businesses and others | $202.1M | 5% |
