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Side-by-side financial comparison of Automatic Data Processing (ADP) and Block, Inc. (XYZ). Click either name above to swap in a different company.
Block, Inc. is the larger business by last-quarter revenue ($6.3B vs $5.9B, roughly 1.1× Automatic Data Processing). Automatic Data Processing runs the higher net margin — 22.9% vs 1.9%, a 21.0% gap on every dollar of revenue. On growth, Automatic Data Processing posted the faster year-over-year revenue change (7.0% vs 3.6%). Over the past eight quarters, Automatic Data Processing's revenue compounded faster (11.6% CAGR vs 2.4%).
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.
Block, Inc. is an American technology company and a financial services provider for consumers and merchants. Founded in 2009 by Jack Dorsey, it is the U.S. market leader in point-of-sale systems. As of 2024, Block serves 57 million users and 4 million sellers, processing $241 billion in payments annually.
ADP vs XYZ — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.9B | $6.3B |
| Net Profit | $1.4B | $115.8M |
| Gross Margin | — | 45.9% |
| Operating Margin | — | 7.8% |
| Net Margin | 22.9% | 1.9% |
| Revenue YoY | 7.0% | 3.6% |
| Net Profit YoY | 8.4% | -94.1% |
| EPS (diluted) | $3.38 | $0.19 |
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 | $6.3B | ||
| Q3 25 | $5.2B | $6.1B | ||
| Q2 25 | $5.1B | $6.1B | ||
| Q1 25 | $5.6B | $5.8B | ||
| Q4 24 | $5.0B | $6.0B | ||
| Q3 24 | $4.8B | $6.0B | ||
| Q2 24 | $4.8B | $6.2B |
| Q1 26 | $1.4B | — | ||
| Q4 25 | $1.1B | $115.8M | ||
| Q3 25 | $1.0B | $461.5M | ||
| Q2 25 | $910.7M | $538.5M | ||
| Q1 25 | $1.2B | $189.9M | ||
| Q4 24 | $963.2M | $1.9B | ||
| Q3 24 | $956.3M | $283.8M | ||
| Q2 24 | $829.3M | $195.3M |
| Q1 26 | — | — | ||
| Q4 25 | 46.1% | 45.9% | ||
| Q3 25 | 45.2% | 43.5% | ||
| Q2 25 | 45.1% | 41.9% | ||
| Q1 25 | 47.7% | 39.7% | ||
| Q4 24 | 45.7% | 38.3% | ||
| Q3 24 | 45.5% | 37.6% | ||
| Q2 24 | 44.8% | 36.3% |
| Q1 26 | — | — | ||
| Q4 25 | 25.8% | 7.8% | ||
| Q3 25 | 25.3% | 6.7% | ||
| Q2 25 | 23.2% | 8.0% | ||
| Q1 25 | 29.2% | 5.7% | ||
| Q4 24 | 25.0% | 0.2% | ||
| Q3 24 | 25.6% | 5.4% | ||
| Q2 24 | 22.8% | 5.0% |
| Q1 26 | 22.9% | — | ||
| Q4 25 | 19.8% | 1.9% | ||
| Q3 25 | 19.6% | 7.5% | ||
| Q2 25 | 17.8% | 8.9% | ||
| Q1 25 | 22.5% | 3.3% | ||
| Q4 24 | 19.1% | 32.3% | ||
| Q3 24 | 19.8% | 4.7% | ||
| Q2 24 | 17.4% | 3.2% |
| Q1 26 | $3.38 | — | ||
| Q4 25 | $2.62 | $0.19 | ||
| Q3 25 | $2.49 | $0.74 | ||
| Q2 25 | $2.23 | $0.87 | ||
| Q1 25 | $3.06 | $0.30 | ||
| Q4 24 | $2.35 | $3.06 | ||
| Q3 24 | $2.34 | $0.45 | ||
| Q2 24 | $2.01 | $0.31 |
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 | $6.6B |
| Total DebtLower is stronger | $4.0B | — |
| Stockholders' EquityBook value | $6.4B | $22.2B |
| Total Assets | $64.5B | $39.5B |
| Debt / EquityLower = less leverage | 0.63× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.2B | — | ||
| Q4 25 | $2.5B | $6.6B | ||
| Q3 25 | $7.9B | $8.3B | ||
| Q2 25 | $7.8B | $6.4B | ||
| Q1 25 | $2.7B | $7.1B | ||
| Q4 24 | $2.2B | $8.1B | ||
| Q3 24 | $7.3B | $8.3B | ||
| Q2 24 | $3.3B | $7.8B |
| Q1 26 | $4.0B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $7.3B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $6.1B | ||
| Q3 24 | — | $6.1B | ||
| Q2 24 | — | $6.1B |
| Q1 26 | $6.4B | — | ||
| Q4 25 | $6.4B | $22.2B | ||
| Q3 25 | $6.4B | $22.5B | ||
| Q2 25 | $6.2B | $22.2B | ||
| Q1 25 | $5.9B | $21.5B | ||
| Q4 24 | $5.1B | $21.3B | ||
| Q3 24 | $5.3B | $19.9B | ||
| Q2 24 | $4.5B | $19.3B |
| Q1 26 | $64.5B | — | ||
| Q4 25 | $84.6B | $39.5B | ||
| Q3 25 | $54.3B | $39.2B | ||
| Q2 25 | $53.4B | $36.9B | ||
| Q1 25 | $56.4B | $36.4B | ||
| Q4 24 | $64.1B | $36.8B | ||
| Q3 24 | $49.5B | $36.4B | ||
| Q2 24 | $54.4B | $37.5B |
| Q1 26 | 0.63× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.23× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.31× | ||
| Q2 24 | — | 0.32× |
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 | — | $621.0M |
| Free Cash FlowOCF − Capex | — | $579.8M |
| FCF MarginFCF / Revenue | — | 9.3% |
| Capex IntensityCapex / Revenue | 2.1% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 5.36× |
| TTM Free Cash FlowTrailing 4 quarters | — | $2.4B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $621.0M | ||
| Q3 25 | $642.3M | $1.5B | ||
| Q2 25 | $1.4B | $374.3M | ||
| Q1 25 | $1.5B | $133.3M | ||
| Q4 24 | $1.2B | $13.8M | ||
| Q3 24 | $824.4M | $684.8M | ||
| Q2 24 | $1.3B | $519.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $579.8M | ||
| Q3 25 | — | $1.4B | ||
| Q2 25 | — | $343.0M | ||
| Q1 25 | — | $101.5M | ||
| Q4 24 | — | $-13.2M | ||
| Q3 24 | — | $628.2M | ||
| Q2 24 | — | $481.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 22.9% | ||
| Q2 25 | — | 5.7% | ||
| Q1 25 | — | 1.8% | ||
| Q4 24 | — | -0.2% | ||
| Q3 24 | — | 10.5% | ||
| Q2 24 | — | 7.8% |
| Q1 26 | 2.1% | — | ||
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.07× | 5.36× | ||
| Q3 25 | 0.63× | 3.14× | ||
| Q2 25 | 1.58× | 0.70× | ||
| Q1 25 | 1.22× | 0.70× | ||
| Q4 24 | 1.19× | 0.01× | ||
| Q3 24 | 0.86× | 2.41× | ||
| Q2 24 | 1.57× | 2.66× |
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% |
XYZ
| US | $5.7B | 91% |
| Non Us | $560.9M | 9% |
