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美国铝业公司（AA）与Automatic Data Processing（ADP）财务数据对比。点击上方公司名可切换其他公司
Automatic Data Processing的季度营收约是美国铝业公司的1.6倍（$5.4B vs $3.4B），Automatic Data Processing净利率更高（19.8% vs 6.2%，领先13.6%），Automatic Data Processing同比增速更快（6.2% vs -1.1%），过去两年美国铝业公司的营收复合增速更高（15.2% vs 1.0%）
美国铝业公司是美国大型工业企业，为全球规模领先的铝生产商之一，业务布局覆盖10个国家，涵盖铝土矿开采、氧化铝精炼、原铝冶炼、铝制品加工及铝回收利用全产业链，产品广泛应用于全球各工业领域。
ADP是总部位于美国新泽西州罗斯兰的跨国企业，为全球各行业客户提供云基人力资源管理、薪资核算处理、专业雇主组织（PEO）等领域的专业服务，是全球人力资源服务领域的知名头部供应商。
AA vs ADP — 直观对比
营收规模更大
ADP
是对方的1.6倍
$3.4B
营收增速更快
ADP
高出7.2%
-1.1%
净利率更高
ADP
高出13.6%
6.2%
两年增速更快
AA
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $3.4B | $5.4B |
| 净利润 | $213.0M | $1.1B |
| 毛利率 | — | 46.1% |
| 营业利润率 | 2.0% | 25.8% |
| 净利率 | 6.2% | 19.8% |
| 营收同比 | -1.1% | 6.2% |
| 净利润同比 | 5.4% | 10.3% |
| 每股收益（稀释后） | $0.80 | $2.62 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AAADP
| Q4 25 | $3.4B | $5.4B | ||
| Q3 25 | $3.0B | $5.2B | ||
| Q2 25 | $3.0B | $5.1B | ||
| Q1 25 | $3.4B | $5.6B | ||
| Q4 24 | $3.5B | $5.0B | ||
| Q3 24 | $2.9B | $4.8B | ||
| Q2 24 | $2.9B | $4.8B | ||
| Q1 24 | $2.6B | $5.3B |
净利润AAADP
| Q4 25 | $213.0M | $1.1B | ||
| Q3 25 | $232.0M | $1.0B | ||
| Q2 25 | $164.0M | $910.7M | ||
| Q1 25 | $548.0M | $1.2B | ||
| Q4 24 | $202.0M | $963.2M | ||
| Q3 24 | $90.0M | $956.3M | ||
| Q2 24 | $20.0M | $829.3M | ||
| Q1 24 | $-252.0M | $1.2B |
毛利率AAADP
| 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% |
营业利润率AAADP
| Q4 25 | 2.0% | 25.8% | ||
| Q3 25 | 5.6% | 25.3% | ||
| Q2 25 | 5.3% | 23.2% | ||
| Q1 25 | 19.8% | 29.2% | ||
| Q4 24 | 9.7% | 25.0% | ||
| Q3 24 | 6.3% | 25.6% | ||
| Q2 24 | 3.2% | 22.8% | ||
| Q1 24 | -12.5% | 29.4% |
净利率AAADP
| Q4 25 | 6.2% | 19.8% | ||
| Q3 25 | 7.7% | 19.6% | ||
| Q2 25 | 5.4% | 17.8% | ||
| Q1 25 | 16.3% | 22.5% | ||
| Q4 24 | 5.8% | 19.1% | ||
| Q3 24 | 3.1% | 19.8% | ||
| Q2 24 | 0.7% | 17.4% | ||
| Q1 24 | -9.7% | 22.6% |
每股收益（稀释后）AAADP
| Q4 25 | $0.80 | $2.62 | ||
| Q3 25 | $0.88 | $2.49 | ||
| Q2 25 | $0.62 | $2.23 | ||
| Q1 25 | $2.07 | $3.06 | ||
| Q4 24 | $1.18 | $2.35 | ||
| Q3 24 | $0.38 | $2.34 | ||
| Q2 24 | $0.11 | $2.01 | ||
| Q1 24 | $-1.41 | $2.88 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.6B | $2.5B |
| 总债务越低越好 | $2.4B | — |
| 股东权益账面价值 | $6.1B | $6.4B |
| 总资产 | $16.1B | $84.6B |
| 负债/权益比越低杠杆越低 | 0.40× | — |
8季度趋势，按日历期对齐
现金及短期投资AAADP
| Q4 25 | $1.6B | $2.5B | ||
| Q3 25 | $1.5B | $7.9B | ||
| Q2 25 | $1.5B | $7.8B | ||
| Q1 25 | $1.2B | $2.7B | ||
| Q4 24 | $1.1B | $2.2B | ||
| Q3 24 | $1.3B | $7.3B | ||
| Q2 24 | $1.4B | $3.3B | ||
| Q1 24 | $1.4B | $3.3B |
总债务AAADP
| Q4 25 | $2.4B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.6B | — | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.5B | — | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.5B | — |
股东权益AAADP
| Q4 25 | $6.1B | $6.4B | ||
| Q3 25 | $6.3B | $6.4B | ||
| Q2 25 | $6.1B | $6.2B | ||
| Q1 25 | $5.8B | $5.9B | ||
| Q4 24 | $5.2B | $5.1B | ||
| Q3 24 | $5.3B | $5.3B | ||
| Q2 24 | $3.9B | $4.5B | ||
| Q1 24 | $4.0B | $4.6B |
总资产AAADP
| Q4 25 | $16.1B | $84.6B | ||
| Q3 25 | $16.0B | $54.3B | ||
| Q2 25 | $15.0B | $53.4B | ||
| Q1 25 | $14.6B | $56.4B | ||
| Q4 24 | $14.1B | $64.1B | ||
| Q3 24 | $14.5B | $49.5B | ||
| Q2 24 | $14.3B | $54.4B | ||
| Q1 24 | $14.3B | $64.2B |
负债/权益比AAADP
| Q4 25 | 0.40× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 0.42× | — | ||
| Q1 25 | 0.44× | — | ||
| Q4 24 | 0.48× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.63× | — | ||
| Q1 24 | 0.62× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $537.0M | $1.1B |
| 自由现金流经营现金流 - 资本支出 | $294.0M | — |
| 自由现金流率自由现金流/营收 | 8.5% | — |
| 资本支出强度资本支出/营收 | 7.0% | — |
| 现金转化率经营现金流/净利润 | 2.52× | 1.07× |
| 过去12个月自由现金流最近4个季度 | $567.0M | — |
8季度趋势，按日历期对齐
经营现金流AAADP
| Q4 25 | $537.0M | $1.1B | ||
| Q3 25 | $85.0M | $642.3M | ||
| Q2 25 | $488.0M | $1.4B | ||
| Q1 25 | $75.0M | $1.5B | ||
| Q4 24 | $415.0M | $1.2B | ||
| Q3 24 | $143.0M | $824.4M | ||
| Q2 24 | $287.0M | $1.3B | ||
| Q1 24 | $-223.0M | $1.5B |
自由现金流AAADP
| Q4 25 | $294.0M | — | ||
| Q3 25 | $-66.0M | — | ||
| Q2 25 | $357.0M | — | ||
| Q1 25 | $-18.0M | — | ||
| Q4 24 | $246.0M | — | ||
| Q3 24 | $-3.0M | — | ||
| Q2 24 | $123.0M | — | ||
| Q1 24 | $-324.0M | — |
自由现金流率AAADP
| Q4 25 | 8.5% | — | ||
| Q3 25 | -2.2% | — | ||
| Q2 25 | 11.8% | — | ||
| Q1 25 | -0.5% | — | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | -0.1% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | -12.5% | — |
资本支出强度AAADP
| Q4 25 | 7.0% | — | ||
| Q3 25 | 5.0% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 2.8% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 5.6% | — | ||
| Q1 24 | 3.9% | — |
现金转化率AAADP
| Q4 25 | 2.52× | 1.07× | ||
| Q3 25 | 0.37× | 0.63× | ||
| Q2 25 | 2.98× | 1.58× | ||
| Q1 25 | 0.14× | 1.22× | ||
| Q4 24 | 2.05× | 1.19× | ||
| Q3 24 | 1.59× | 0.86× | ||
| Q2 24 | 14.35× | 1.57× | ||
| Q1 24 | — | 1.26× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AA
| Aluminum | $2.5B | 72% |
| Third Party Sales | $979.0M | 28% |
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% |
