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Automatic Data Processing（ADP）与BRUNSWICK CORP（BC）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BRUNSWICK CORP的4.0倍（$5.4B vs $1.3B）。Automatic Data Processing净利率更高（19.8% vs 1.4%，领先18.4%）。BRUNSWICK CORP同比增速更快（15.5% vs 6.2%）。过去两年Automatic Data Processing的营收复合增速更高（1.0% vs -1.1%）
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。
美国Brunswick公司创立于1845年，专注于多品类产品的研发、生产与营销，旗下拥有知名海事品牌水星海事（Mercury Marine）等多个品牌。目前集团在24个国家拥有超1.3万名员工，2024年销售额达52亿美元，全球总部位于伊利诺伊州芝加哥北郊的梅塔瓦。
ADP vs BC — 直观对比
营收规模更大
ADP
是对方的4.0倍
$1.3B
营收增速更快
BC
高出9.3%
6.2%
净利率更高
ADP
高出18.4%
1.4%
两年增速更快
ADP
近两年复合增速
-1.1%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $1.3B |
| 净利润 | $1.1B | $18.7M |
| 毛利率 | 46.1% | 23.1% |
| 营业利润率 | 25.8% | 3.1% |
| 净利率 | 19.8% | 1.4% |
| 营收同比 | 6.2% | 15.5% |
| 净利润同比 | 10.3% | 122.7% |
| 每股收益（稀释后） | $2.62 | $0.32 |
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ADPBC
| Q4 25 | $5.4B | $1.3B | ||
| Q3 25 | $5.2B | $1.4B | ||
| Q2 25 | $5.1B | $1.4B | ||
| Q1 25 | $5.6B | $1.2B | ||
| Q4 24 | $5.0B | $1.2B | ||
| Q3 24 | $4.8B | $1.3B | ||
| Q2 24 | $4.8B | $1.4B | ||
| Q1 24 | $5.3B | $1.4B |
净利润ADPBC
| Q4 25 | $1.1B | $18.7M | ||
| Q3 25 | $1.0B | $-235.5M | ||
| Q2 25 | $910.7M | $59.3M | ||
| Q1 25 | $1.2B | $20.2M | ||
| Q4 24 | $963.2M | $-82.5M | ||
| Q3 24 | $956.3M | $44.6M | ||
| Q2 24 | $829.3M | $100.0M | ||
| Q1 24 | $1.2B | $68.0M |
毛利率ADPBC
| Q4 25 | 46.1% | 23.1% | ||
| Q3 25 | 45.2% | 25.8% | ||
| Q2 25 | 45.1% | 25.5% | ||
| Q1 25 | 47.7% | 24.9% | ||
| Q4 24 | 45.7% | 21.9% | ||
| Q3 24 | 45.5% | 26.2% | ||
| Q2 24 | 44.8% | 27.1% | ||
| Q1 24 | 47.3% | 27.4% |
营业利润率ADPBC
| Q4 25 | 25.8% | 3.1% | ||
| Q3 25 | 25.3% | -17.8% | ||
| Q2 25 | 23.2% | 7.1% | ||
| Q1 25 | 29.2% | 4.6% | ||
| Q4 24 | 25.0% | -4.8% | ||
| Q3 24 | 25.6% | 7.7% | ||
| Q2 24 | 22.8% | 11.0% | ||
| Q1 24 | 29.4% | 8.1% |
净利率ADPBC
| Q4 25 | 19.8% | 1.4% | ||
| Q3 25 | 19.6% | -17.3% | ||
| Q2 25 | 17.8% | 4.1% | ||
| Q1 25 | 22.5% | 1.7% | ||
| Q4 24 | 19.1% | -7.1% | ||
| Q3 24 | 19.8% | 3.5% | ||
| Q2 24 | 17.4% | 6.9% | ||
| Q1 24 | 22.6% | 5.0% |
每股收益（稀释后）ADPBC
| Q4 25 | $2.62 | $0.32 | ||
| Q3 25 | $2.49 | $-3.59 | ||
| Q2 25 | $2.23 | $0.89 | ||
| Q1 25 | $3.06 | $0.30 | ||
| Q4 24 | $2.35 | $-1.21 | ||
| Q3 24 | $2.34 | $0.67 | ||
| Q2 24 | $2.01 | $1.48 | ||
| Q1 24 | $2.88 | $0.99 |
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 | $256.8M |
| 总债务越低越好 | — | $2.1B |
| 股东权益账面价值 | $6.4B | $1.6B |
| 总资产 | $84.6B | $5.3B |
| 负债/权益比越低杠杆越低 | — | 1.30× |
8季度趋势，按日历期对齐
现金及短期投资ADPBC
| Q4 25 | $2.5B | $256.8M | ||
| Q3 25 | $7.9B | $297.7M | ||
| Q2 25 | $7.8B | $315.7M | ||
| Q1 25 | $2.7B | $286.7M | ||
| Q4 24 | $2.2B | $269.0M | ||
| Q3 24 | $7.3B | $284.1M | ||
| Q2 24 | $3.3B | $494.5M | ||
| Q1 24 | $3.3B | $548.4M |
总债务ADPBC
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益ADPBC
| Q4 25 | $6.4B | $1.6B | ||
| Q3 25 | $6.4B | $1.6B | ||
| Q2 25 | $6.2B | $1.9B | ||
| Q1 25 | $5.9B | $1.9B | ||
| Q4 24 | $5.1B | $1.9B | ||
| Q3 24 | $5.3B | $2.0B | ||
| Q2 24 | $4.5B | $2.0B | ||
| Q1 24 | $4.6B | $2.0B |
总资产ADPBC
| Q4 25 | $84.6B | $5.3B | ||
| Q3 25 | $54.3B | $5.4B | ||
| Q2 25 | $53.4B | $5.8B | ||
| Q1 25 | $56.4B | $5.9B | ||
| Q4 24 | $64.1B | $5.7B | ||
| Q3 24 | $49.5B | $6.0B | ||
| Q2 24 | $54.4B | $6.4B | ||
| Q1 24 | $64.2B | $6.5B |
负债/权益比ADPBC
| Q4 25 | — | 1.30× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.25× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $132.9M |
| 自由现金流经营现金流 - 资本支出 | — | $83.6M |
| 自由现金流率自由现金流/营收 | — | 6.3% |
| 资本支出强度资本支出/营收 | — | 3.7% |
| 现金转化率经营现金流/净利润 | 1.07× | 7.11× |
| 过去12个月自由现金流最近4个季度 | — | $396.3M |
8季度趋势，按日历期对齐
经营现金流ADPBC
| Q4 25 | $1.1B | $132.9M | ||
| Q3 25 | $642.3M | $140.4M | ||
| Q2 25 | $1.4B | $316.2M | ||
| Q1 25 | $1.5B | $-27.4M | ||
| Q4 24 | $1.2B | $306.4M | ||
| Q3 24 | $824.4M | $67.4M | ||
| Q2 24 | $1.3B | $211.0M | ||
| Q1 24 | $1.5B | $-153.4M |
自由现金流ADPBC
| Q4 25 | — | $83.6M | ||
| Q3 25 | — | $106.5M | ||
| Q2 25 | — | $271.3M | ||
| Q1 25 | — | $-65.1M | ||
| Q4 24 | — | $276.1M | ||
| Q3 24 | — | $31.4M | ||
| Q2 24 | — | $163.9M | ||
| Q1 24 | — | $-207.4M |
自由现金流率ADPBC
| Q4 25 | — | 6.3% | ||
| Q3 25 | — | 7.8% | ||
| Q2 25 | — | 18.7% | ||
| Q1 25 | — | -5.3% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 11.4% | ||
| Q1 24 | — | -15.2% |
资本支出强度ADPBC
| Q4 25 | — | 3.7% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 3.1% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 4.0% |
现金转化率ADPBC
| Q4 25 | 1.07× | 7.11× | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 1.58× | 5.33× | ||
| Q1 25 | 1.22× | -1.36× | ||
| Q4 24 | 1.19× | — | ||
| Q3 24 | 0.86× | 1.51× | ||
| Q2 24 | 1.57× | 2.11× | ||
| Q1 24 | 1.26× | -2.26× |
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
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% |
BC
| Engine Partsand Accessories | $532.4M | 40% |
| Navico Group | $452.9M | 34% |
| Recreational Fiberglass Boats | $111.6M | 8% |
| Saltwater Fishing Boats | $85.7M | 6% |
| Controls Riggingand Propellers | $78.3M | 6% |
| Business Acceleration | $48.1M | 4% |
| Sterndrive Engine | $32.6M | 2% |
