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Side-by-side financial comparison of Automatic Data Processing (ADP) and Vistra Corp. (VST). Click either name above to swap in a different company.
Automatic Data Processing is the larger business by last-quarter revenue ($5.9B vs $4.8B, roughly 1.2× Vistra Corp.). Automatic Data Processing runs the higher net margin — 22.9% vs 4.8%, a 18.0% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 7.0%). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% 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.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
ADP vs VST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.9B | $4.8B |
| Net Profit | $1.4B | $233.0M |
| Gross Margin | — | — |
| Operating Margin | — | 9.9% |
| Net Margin | 22.9% | 4.8% |
| Revenue YoY | 7.0% | 31.2% |
| Net Profit YoY | 8.4% | -47.2% |
| EPS (diluted) | $10.01 | $0.55 |
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 | $4.8B | ||
| Q3 25 | $5.2B | $4.8B | ||
| Q2 25 | $5.1B | $3.8B | ||
| Q1 25 | $5.6B | $4.3B | ||
| Q4 24 | $5.0B | $3.7B | ||
| Q3 24 | $4.8B | $4.3B | ||
| Q2 24 | $4.8B | $3.6B |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.1B | $233.0M | ||
| Q3 25 | $1.0B | $652.0M | ||
| Q2 25 | $910.7M | $327.0M | ||
| Q1 25 | $1.2B | $-268.0M | ||
| Q4 24 | $963.2M | $441.0M | ||
| Q3 24 | $956.3M | $1.9B | ||
| Q2 24 | $829.3M | $365.0M |
| 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% | 9.9% | ||
| Q3 25 | 25.3% | 21.7% | ||
| Q2 25 | 23.2% | 13.7% | ||
| Q1 25 | 29.2% | -2.8% | ||
| Q4 24 | 25.0% | 16.4% | ||
| Q3 24 | 25.6% | 59.6% | ||
| Q2 24 | 22.8% | 22.5% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 19.8% | 4.8% | ||
| Q3 25 | 19.6% | 13.6% | ||
| Q2 25 | 17.8% | 8.7% | ||
| Q1 25 | 22.5% | -6.3% | ||
| Q4 24 | 19.1% | 12.0% | ||
| Q3 24 | 19.8% | 43.5% | ||
| Q2 24 | 17.4% | 10.1% |
| Q1 26 | $10.01 | — | ||
| Q4 25 | $2.62 | $0.55 | ||
| Q3 25 | $2.49 | $1.75 | ||
| Q2 25 | $2.23 | $0.81 | ||
| Q1 25 | $3.06 | $-0.93 | ||
| Q4 24 | $2.35 | $1.09 | ||
| Q3 24 | $2.34 | $5.25 | ||
| Q2 24 | $2.01 | $0.90 |
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 | $785.0M |
| Total DebtLower is stronger | $4.0B | $15.8B |
| Stockholders' EquityBook value | $6.4B | $5.1B |
| Total Assets | $64.5B | $41.5B |
| Debt / EquityLower = less leverage | 0.63× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.5B | $785.0M | ||
| Q3 25 | $7.9B | $602.0M | ||
| Q2 25 | $7.8B | $458.0M | ||
| Q1 25 | $2.7B | $561.0M | ||
| Q4 24 | $2.2B | $1.2B | ||
| Q3 24 | $7.3B | $905.0M | ||
| Q2 24 | $3.3B | $1.6B |
| Q1 26 | $4.0B | — | ||
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B |
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.4B | $5.1B | ||
| Q3 25 | $6.4B | $5.2B | ||
| Q2 25 | $6.2B | $4.8B | ||
| Q1 25 | $5.9B | $4.8B | ||
| Q4 24 | $5.1B | $5.6B | ||
| Q3 24 | $5.3B | $5.4B | ||
| Q2 24 | $4.5B | $5.6B |
| Q1 26 | $64.5B | — | ||
| Q4 25 | $84.6B | $41.5B | ||
| Q3 25 | $54.3B | $38.0B | ||
| Q2 25 | $53.4B | $38.1B | ||
| Q1 25 | $56.4B | $38.2B | ||
| Q4 24 | $64.1B | $37.8B | ||
| Q3 24 | $49.5B | $37.9B | ||
| Q2 24 | $54.4B | $39.1B |
| Q1 26 | 0.63× | — | ||
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 2.49× |
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 | — | $1.4B |
| Free Cash FlowOCF − Capex | — | $596.0M |
| FCF MarginFCF / Revenue | — | 12.4% |
| Capex IntensityCapex / Revenue | 2.1% | 17.4% |
| Cash ConversionOCF / Net Profit | — | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $642.3M | $1.5B | ||
| Q2 25 | $1.4B | $572.0M | ||
| Q1 25 | $1.5B | $599.0M | ||
| Q4 24 | $1.2B | $1.4B | ||
| Q3 24 | $824.4M | $1.7B | ||
| Q2 24 | $1.3B | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | $596.0M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $-118.0M | ||
| Q1 25 | — | $-169.0M | ||
| Q4 24 | — | $923.0M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $698.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 21.1% | ||
| Q2 25 | — | -3.1% | ||
| Q1 25 | — | -4.0% | ||
| Q4 24 | — | 25.2% | ||
| Q3 24 | — | 23.4% | ||
| Q2 24 | — | 19.4% |
| Q1 26 | 2.1% | — | ||
| Q4 25 | — | 17.4% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | — | 18.4% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | — | 15.8% | ||
| Q2 24 | — | 13.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.07× | 6.15× | ||
| Q3 25 | 0.63× | 2.25× | ||
| Q2 25 | 1.58× | 1.75× | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.19× | 3.07× | ||
| Q3 24 | 0.86× | 0.90× | ||
| Q2 24 | 1.57× | 3.28× |
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% |
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
