vs
Side-by-side financial comparison of Automatic Data Processing (ADP) and PayPal (PYPL). Click either name above to swap in a different company.
PayPal is the larger business by last-quarter revenue ($8.7B vs $5.4B, roughly 1.6× Automatic Data Processing). Automatic Data Processing runs the higher net margin — 19.8% vs 16.6%, a 3.3% 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, PayPal's revenue compounded faster (6.2% 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.
PayPalPYPLEarnings & Financial Report
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial and company users.
ADP vs PYPL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.4B | $8.7B |
| Net Profit | $1.1B | $1.4B |
| Gross Margin | 46.1% | — |
| Operating Margin | 25.8% | 17.4% |
| Net Margin | 19.8% | 16.6% |
| Revenue YoY | 6.2% | 3.7% |
| Net Profit YoY | 10.3% | 28.2% |
| EPS (diluted) | $2.62 | $1.53 |
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 | $8.7B | ||
| Q3 25 | $5.2B | $8.4B | ||
| Q2 25 | $5.1B | $8.3B | ||
| Q1 25 | $5.6B | $7.8B | ||
| Q4 24 | $5.0B | $8.4B | ||
| Q3 24 | $4.8B | $7.8B | ||
| Q2 24 | $4.8B | $7.9B | ||
| Q1 24 | $5.3B | $7.7B |
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $910.7M | $1.3B | ||
| Q1 25 | $1.2B | $1.3B | ||
| Q4 24 | $963.2M | $1.1B | ||
| Q3 24 | $956.3M | $1.0B | ||
| Q2 24 | $829.3M | $1.1B | ||
| Q1 24 | $1.2B | $888.0M |
| 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% | 17.4% | ||
| Q3 25 | 25.3% | 18.1% | ||
| Q2 25 | 23.2% | 18.1% | ||
| Q1 25 | 29.2% | 19.6% | ||
| Q4 24 | 25.0% | 17.2% | ||
| Q3 24 | 25.6% | 17.7% | ||
| Q2 24 | 22.8% | 16.8% | ||
| Q1 24 | 29.4% | 15.2% |
| Q4 25 | 19.8% | 16.6% | ||
| Q3 25 | 19.6% | 14.8% | ||
| Q2 25 | 17.8% | 15.2% | ||
| Q1 25 | 22.5% | 16.5% | ||
| Q4 24 | 19.1% | 13.4% | ||
| Q3 24 | 19.8% | 12.9% | ||
| Q2 24 | 17.4% | 14.3% | ||
| Q1 24 | 22.6% | 11.5% |
| Q4 25 | $2.62 | $1.53 | ||
| Q3 25 | $2.49 | $1.30 | ||
| Q2 25 | $2.23 | $1.29 | ||
| Q1 25 | $3.06 | $1.29 | ||
| Q4 24 | $2.35 | $1.09 | ||
| Q3 24 | $2.34 | $0.99 | ||
| Q2 24 | $2.01 | $1.08 | ||
| Q1 24 | $2.88 | $0.83 |
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 | $10.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $6.4B | $20.3B |
| Total Assets | $84.6B | $80.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.5B | $10.4B | ||
| Q3 25 | $7.9B | $10.8B | ||
| Q2 25 | $7.8B | $10.0B | ||
| Q1 25 | $2.7B | $11.2B | ||
| Q4 24 | $2.2B | $10.8B | ||
| Q3 24 | $7.3B | $11.9B | ||
| Q2 24 | $3.3B | $13.6B | ||
| Q1 24 | $3.3B | $14.3B |
| Q4 25 | $6.4B | $20.3B | ||
| Q3 25 | $6.4B | $20.2B | ||
| Q2 25 | $6.2B | $20.2B | ||
| Q1 25 | $5.9B | $20.3B | ||
| Q4 24 | $5.1B | $20.4B | ||
| Q3 24 | $5.3B | $20.2B | ||
| Q2 24 | $4.5B | $20.6B | ||
| Q1 24 | $4.6B | $20.7B |
| Q4 25 | $84.6B | $80.2B | ||
| Q3 25 | $54.3B | $79.8B | ||
| Q2 25 | $53.4B | $79.8B | ||
| Q1 25 | $56.4B | $81.3B | ||
| Q4 24 | $64.1B | $81.6B | ||
| Q3 24 | $49.5B | $83.5B | ||
| Q2 24 | $54.4B | $84.0B | ||
| Q1 24 | $64.2B | $83.3B |
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 | $2.4B |
| Free Cash FlowOCF − Capex | — | $2.2B |
| FCF MarginFCF / Revenue | — | 25.2% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | 1.07× | 1.66× |
| TTM Free Cash FlowTrailing 4 quarters | — | $5.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.1B | $2.4B | ||
| Q3 25 | $642.3M | $2.0B | ||
| Q2 25 | $1.4B | $898.0M | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.2B | $2.4B | ||
| Q3 24 | $824.4M | $1.6B | ||
| Q2 24 | $1.3B | $1.5B | ||
| Q1 24 | $1.5B | $1.9B |
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $692.0M | ||
| Q1 25 | — | $964.0M | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | — | 25.2% | ||
| Q3 25 | — | 20.4% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | — | 12.4% | ||
| Q4 24 | — | 26.2% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 17.3% | ||
| Q1 24 | — | 22.9% |
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 3.0% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 2.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 2.0% | ||
| Q1 24 | — | 2.0% |
| Q4 25 | 1.07× | 1.66× | ||
| Q3 25 | 0.63× | 1.58× | ||
| Q2 25 | 1.58× | 0.71× | ||
| Q1 25 | 1.22× | 0.90× | ||
| Q4 24 | 1.19× | 2.14× | ||
| Q3 24 | 0.86× | 1.60× | ||
| Q2 24 | 1.57× | 1.35× | ||
| Q1 24 | 1.26× | 2.16× |
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% |
PYPL
| US | $4.9B | 57% |
| Non Us | $3.7B | 43% |
