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Automatic Data Processing（ADP）与AZZ INC（AZZ）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AZZ INC的13.9倍（$5.4B vs $385.1M）。Automatic Data Processing净利率更高（19.8% vs 4.1%，领先15.7%）。Automatic Data Processing同比增速更快（6.2% vs -75.6%）。过去两年Automatic Data Processing的营收复合增速更高（1.0% vs -3.5%）
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。
AZZ公司是全球领先的金属防护解决方案供应商，主营热浸镀锌、表面涂层处理服务及特种电气、工业零部件，主要服务于北美及其他核心国际市场的建筑、能源、基建、制造等下游领域。
ADP vs AZZ — 直观对比
营收规模更大
ADP
是对方的13.9倍
$385.1M
营收增速更快
ADP
高出81.8%
-75.6%
净利率更高
ADP
高出15.7%
4.1%
两年增速更快
ADP
近两年复合增速
-3.5%
损益表 — Q2 2026 vs Q4 2026
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $385.1M |
| 净利润 | $1.1B | $15.9M |
| 毛利率 | 46.1% | 22.7% |
| 营业利润率 | 25.8% | 14.8% |
| 净利率 | 19.8% | 4.1% |
| 营收同比 | 6.2% | -75.6% |
| 净利润同比 | 10.3% | -21.2% |
| 每股收益（稀释后） | $2.62 | $0.53 |
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ADPAZZ
| Q4 26 | — | $385.1M | ||
| Q4 25 | $5.4B | $425.7M | ||
| Q3 25 | $5.2B | $417.3M | ||
| Q2 25 | $5.1B | $422.0M | ||
| Q1 25 | $5.6B | $351.9M | ||
| Q4 24 | $5.0B | $403.7M | ||
| Q3 24 | $4.8B | $409.0M | ||
| Q2 24 | $4.8B | $413.2M |
净利润ADPAZZ
| Q4 26 | — | $15.9M | ||
| Q4 25 | $1.1B | $41.1M | ||
| Q3 25 | $1.0B | $89.3M | ||
| Q2 25 | $910.7M | $170.9M | ||
| Q1 25 | $1.2B | $20.2M | ||
| Q4 24 | $963.2M | $33.6M | ||
| Q3 24 | $956.3M | $35.4M | ||
| Q2 24 | $829.3M | $39.6M |
毛利率ADPAZZ
| Q4 26 | — | 22.7% | ||
| Q4 25 | 46.1% | 23.9% | ||
| Q3 25 | 45.2% | 24.3% | ||
| Q2 25 | 45.1% | 24.7% | ||
| Q1 25 | 47.7% | 22.4% | ||
| Q4 24 | 45.7% | 24.2% | ||
| Q3 24 | 45.5% | 25.3% | ||
| Q2 24 | 44.8% | 24.8% |
营业利润率ADPAZZ
| Q4 26 | — | 14.8% | ||
| Q4 25 | 25.8% | 16.3% | ||
| Q3 25 | 25.3% | 16.4% | ||
| Q2 25 | 23.2% | 16.5% | ||
| Q1 25 | 29.2% | 11.5% | ||
| Q4 24 | 25.0% | 14.5% | ||
| Q3 24 | 25.6% | 16.5% | ||
| Q2 24 | 22.8% | 16.9% |
净利率ADPAZZ
| Q4 26 | — | 4.1% | ||
| Q4 25 | 19.8% | 9.6% | ||
| Q3 25 | 19.6% | 21.4% | ||
| Q2 25 | 17.8% | 40.5% | ||
| Q1 25 | 22.5% | 5.7% | ||
| Q4 24 | 19.1% | 8.3% | ||
| Q3 24 | 19.8% | 8.7% | ||
| Q2 24 | 17.4% | 9.6% |
每股收益（稀释后）ADPAZZ
| Q4 26 | — | $0.53 | ||
| Q4 25 | $2.62 | $1.36 | ||
| Q3 25 | $2.49 | $2.95 | ||
| Q2 25 | $2.23 | $5.66 | ||
| Q1 25 | $3.06 | $0.87 | ||
| Q4 24 | $2.35 | $1.12 | ||
| Q3 24 | $2.34 | $1.18 | ||
| Q2 24 | $2.01 | $-1.38 |
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 | $2.5B | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.4B | $1.3B |
| 总资产 | $84.6B | $2.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ADPAZZ
| Q4 26 | — | — | ||
| Q4 25 | $2.5B | $623.0K | ||
| Q3 25 | $7.9B | $897.0K | ||
| Q2 25 | $7.8B | $3.0M | ||
| Q1 25 | $2.7B | $1.5M | ||
| Q4 24 | $2.2B | $1.5M | ||
| Q3 24 | $7.3B | $2.2M | ||
| Q2 24 | $3.3B | $10.5M |
股东权益ADPAZZ
| Q4 26 | — | $1.3B | ||
| Q4 25 | $6.4B | $1.3B | ||
| Q3 25 | $6.4B | $1.3B | ||
| Q2 25 | $6.2B | $1.2B | ||
| Q1 25 | $5.9B | $1.0B | ||
| Q4 24 | $5.1B | $1.0B | ||
| Q3 24 | $5.3B | $999.8M | ||
| Q2 24 | $4.5B | $967.2M |
总资产ADPAZZ
| Q4 26 | — | $2.2B | ||
| Q4 25 | $84.6B | $2.2B | ||
| Q3 25 | $54.3B | $2.2B | ||
| Q2 25 | $53.4B | $2.2B | ||
| Q1 25 | $56.4B | $2.2B | ||
| Q4 24 | $64.1B | $2.2B | ||
| Q3 24 | $49.5B | $2.2B | ||
| Q2 24 | $54.4B | $2.2B |
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 | $1.1B | $525.4M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.07× | 32.98× |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ADPAZZ
| Q4 26 | — | $525.4M | ||
| Q4 25 | $1.1B | $79.7M | ||
| Q3 25 | $642.3M | $58.4M | ||
| Q2 25 | $1.4B | $314.8M | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.2B | $66.2M | ||
| Q3 24 | $824.4M | $47.5M | ||
| Q2 24 | $1.3B | $71.9M |
自由现金流ADPAZZ
| Q4 26 | — | — | ||
| Q4 25 | — | $61.2M | ||
| Q3 25 | — | $39.1M | ||
| Q2 25 | — | $293.9M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $39.7M | ||
| Q3 24 | — | $15.4M | ||
| Q2 24 | — | $44.5M |
自由现金流率ADPAZZ
| Q4 26 | — | — | ||
| Q4 25 | — | 14.4% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 69.6% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 9.8% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | — | 10.8% |
资本支出强度ADPAZZ
| Q4 26 | — | — | ||
| Q4 25 | — | 4.4% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 5.0% | ||
| Q1 25 | — | 8.5% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 6.6% |
现金转化率ADPAZZ
| Q4 26 | — | 32.98× | ||
| Q4 25 | 1.07× | 1.94× | ||
| Q3 25 | 0.63× | 0.65× | ||
| Q2 25 | 1.58× | 1.84× | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.19× | 1.97× | ||
| Q3 24 | 0.86× | 1.34× | ||
| Q2 24 | 1.57× | 1.82× |
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
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% |
AZZ
| Precoat Metals | $203.5M | 53% |
| Metal Coatings | $186.5M | 48% |
