vs
Automatic Data Processing（ADP）与BADGER METER INC（BMI）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BADGER METER INC的22.9倍（$5.4B vs $234.1M）。Automatic Data Processing净利率更高（19.8% vs 14.3%，领先5.5%）。BADGER METER INC同比增速更快（14.1% vs 6.2%）。过去两年BADGER METER INC的营收复合增速更高（9.2% vs 1.0%）
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。
Badger Meter Inc是全球领先的流量测量与控制解决方案供应商，主要服务水务企业、工业、商业及住宅客户群体，核心产品包括智能水表、物联网使用监测系统及配套软件，可帮助客户追踪资源消耗、减少浪费、提升运营效率，核心市场覆盖北美、欧洲及亚太地区。
ADP vs BMI — 直观对比
营收规模更大
ADP
是对方的22.9倍
$234.1M
营收增速更快
BMI
高出8.0%
6.2%
净利率更高
ADP
高出5.5%
14.3%
两年增速更快
BMI
近两年复合增速
1.0%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $234.1M |
| 净利润 | $1.1B | $33.6M |
| 毛利率 | 46.1% | 39.7% |
| 营业利润率 | 25.8% | 18.4% |
| 净利率 | 19.8% | 14.3% |
| 营收同比 | 6.2% | 14.1% |
| 净利润同比 | 10.3% | 9.3% |
| 每股收益（稀释后） | $2.62 | $1.13 |
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ADPBMI
| Q4 25 | $5.4B | $234.1M | ||
| Q3 25 | $5.2B | $222.2M | ||
| Q2 25 | $5.1B | $238.1M | ||
| Q1 25 | $5.6B | $222.2M | ||
| Q4 24 | $5.0B | $205.2M | ||
| Q3 24 | $4.8B | $208.4M | ||
| Q2 24 | $4.8B | $216.7M | ||
| Q1 24 | $5.3B | $196.3M |
净利润ADPBMI
| Q4 25 | $1.1B | $33.6M | ||
| Q3 25 | $1.0B | $35.1M | ||
| Q2 25 | $910.7M | $34.6M | ||
| Q1 25 | $1.2B | $38.4M | ||
| Q4 24 | $963.2M | $30.7M | ||
| Q3 24 | $956.3M | $32.0M | ||
| Q2 24 | $829.3M | $33.1M | ||
| Q1 24 | $1.2B | $29.1M |
毛利率ADPBMI
| Q4 25 | 46.1% | 39.7% | ||
| Q3 25 | 45.2% | 43.1% | ||
| Q2 25 | 45.1% | 41.1% | ||
| Q1 25 | 47.7% | 42.9% | ||
| Q4 24 | 45.7% | 40.3% | ||
| Q3 24 | 45.5% | 40.2% | ||
| Q2 24 | 44.8% | 39.4% | ||
| Q1 24 | 47.3% | 39.3% |
营业利润率ADPBMI
| Q4 25 | 25.8% | 18.4% | ||
| Q3 25 | 25.3% | 20.7% | ||
| Q2 25 | 23.2% | 18.8% | ||
| Q1 25 | 29.2% | 22.2% | ||
| Q4 24 | 25.0% | 19.1% | ||
| Q3 24 | 25.6% | 19.5% | ||
| Q2 24 | 22.8% | 19.2% | ||
| Q1 24 | 29.4% | 18.6% |
净利率ADPBMI
| Q4 25 | 19.8% | 14.3% | ||
| Q3 25 | 19.6% | 15.8% | ||
| Q2 25 | 17.8% | 14.5% | ||
| Q1 25 | 22.5% | 17.3% | ||
| Q4 24 | 19.1% | 15.0% | ||
| Q3 24 | 19.8% | 15.4% | ||
| Q2 24 | 17.4% | 15.3% | ||
| Q1 24 | 22.6% | 14.8% |
每股收益（稀释后）ADPBMI
| Q4 25 | $2.62 | $1.13 | ||
| Q3 25 | $2.49 | $1.19 | ||
| Q2 25 | $2.23 | $1.17 | ||
| Q1 25 | $3.06 | $1.30 | ||
| Q4 24 | $2.35 | $1.04 | ||
| Q3 24 | $2.34 | $1.08 | ||
| Q2 24 | $2.01 | $1.12 | ||
| 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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.4B | $713.3M |
| 总资产 | $84.6B | $973.6M |
| 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ADPBMI
| Q4 25 | $2.5B | — | ||
| Q3 25 | $7.9B | — | ||
| Q2 25 | $7.8B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $7.3B | — | ||
| Q2 24 | $3.3B | — | ||
| Q1 24 | $3.3B | — |
股东权益ADPBMI
| Q4 25 | $6.4B | $713.3M | ||
| Q3 25 | $6.4B | $702.5M | ||
| Q2 25 | $6.2B | $677.6M | ||
| Q1 25 | $5.9B | $641.7M | ||
| Q4 24 | $5.1B | $606.2M | ||
| Q3 24 | $5.3B | $591.2M | ||
| Q2 24 | $4.5B | $563.1M | ||
| Q1 24 | $4.6B | $535.6M |
总资产ADPBMI
| Q4 25 | $84.6B | $973.6M | ||
| Q3 25 | $54.3B | $978.3M | ||
| Q2 25 | $53.4B | $936.4M | ||
| Q1 25 | $56.4B | $899.6M | ||
| Q4 24 | $64.1B | $816.4M | ||
| Q3 24 | $49.5B | $802.9M | ||
| Q2 24 | $54.4B | $781.3M | ||
| Q1 24 | $64.2B | $743.5M |
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 | $54.8M |
| 自由现金流经营现金流 - 资本支出 | — | $50.8M |
| 自由现金流率自由现金流/营收 | — | 21.7% |
| 资本支出强度资本支出/营收 | — | 1.7% |
| 现金转化率经营现金流/净利润 | 1.07× | 1.63× |
| 过去12个月自由现金流最近4个季度 | — | $169.7M |
8季度趋势，按日历期对齐
经营现金流ADPBMI
| Q4 25 | $1.1B | $54.8M | ||
| Q3 25 | $642.3M | $51.3M | ||
| Q2 25 | $1.4B | $44.6M | ||
| Q1 25 | $1.5B | $33.0M | ||
| Q4 24 | $1.2B | $52.1M | ||
| Q3 24 | $824.4M | $45.1M | ||
| Q2 24 | $1.3B | $36.4M | ||
| Q1 24 | $1.5B | $21.5M |
自由现金流ADPBMI
| Q4 25 | — | $50.8M | ||
| Q3 25 | — | $48.2M | ||
| Q2 25 | — | $40.6M | ||
| Q1 25 | — | $30.1M | ||
| Q4 24 | — | $47.4M | ||
| Q3 24 | — | $42.0M | ||
| Q2 24 | — | $34.1M | ||
| Q1 24 | — | $18.8M |
自由现金流率ADPBMI
| Q4 25 | — | 21.7% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | — | 13.5% | ||
| Q4 24 | — | 23.1% | ||
| Q3 24 | — | 20.1% | ||
| Q2 24 | — | 15.7% | ||
| Q1 24 | — | 9.6% |
资本支出强度ADPBMI
| Q4 25 | — | 1.7% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.7% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.4% |
现金转化率ADPBMI
| Q4 25 | 1.07× | 1.63× | ||
| Q3 25 | 0.63× | 1.46× | ||
| Q2 25 | 1.58× | 1.29× | ||
| Q1 25 | 1.22× | 0.86× | ||
| Q4 24 | 1.19× | 1.70× | ||
| Q3 24 | 0.86× | 1.41× | ||
| Q2 24 | 1.57× | 1.10× | ||
| Q1 24 | 1.26× | 0.74× |
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% |
BMI
| Transferred At Point In Time | $198.6M | 85% |
| Transferred Over Time | $22.1M | 9% |
| Other | $13.4M | 6% |
