vs
Automatic Data Processing（ADP）与CLEAN HARBORS INC（CLH）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CLEAN HARBORS INC的3.6倍（$5.4B vs $1.5B）。Automatic Data Processing净利率更高（19.8% vs 5.8%，领先14.0%）。Automatic Data Processing同比增速更快（6.2% vs 4.8%）。过去两年CLEAN HARBORS INC的营收复合增速更高（4.4% 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。
总部位于美国马萨诸塞州诺韦尔的Clean Harbors是专业的商业客户废弃物管理与工业服务提供商，主营危险废弃物的收集、运输、处理及处置业务，同时提供非危险废弃物相关服务，目前在美加两国拥有870个运营网点，及包含焚烧厂、填埋场在内的100余座废弃物处置设施。
ADP vs CLH — 直观对比
营收规模更大
ADP
是对方的3.6倍
$1.5B
营收增速更快
ADP
高出1.4%
4.8%
净利率更高
ADP
高出14.0%
5.8%
两年增速更快
CLH
近两年复合增速
1.0%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $1.5B |
| 净利润 | $1.1B | $86.6M |
| 毛利率 | 46.1% | 30.6% |
| 营业利润率 | 25.8% | 10.6% |
| 净利率 | 19.8% | 5.8% |
| 营收同比 | 6.2% | 4.8% |
| 净利润同比 | 10.3% | 3.1% |
| 每股收益（稀释后） | $2.62 | $1.62 |
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ADPCLH
| Q4 25 | $5.4B | $1.5B | ||
| Q3 25 | $5.2B | $1.5B | ||
| Q2 25 | $5.1B | $1.5B | ||
| Q1 25 | $5.6B | $1.4B | ||
| Q4 24 | $5.0B | $1.4B | ||
| Q3 24 | $4.8B | $1.5B | ||
| Q2 24 | $4.8B | $1.6B | ||
| Q1 24 | $5.3B | $1.4B |
净利润ADPCLH
| Q4 25 | $1.1B | $86.6M | ||
| Q3 25 | $1.0B | $118.8M | ||
| Q2 25 | $910.7M | $126.9M | ||
| Q1 25 | $1.2B | $58.7M | ||
| Q4 24 | $963.2M | $84.0M | ||
| Q3 24 | $956.3M | $115.2M | ||
| Q2 24 | $829.3M | $133.3M | ||
| Q1 24 | $1.2B | $69.8M |
毛利率ADPCLH
| Q4 25 | 46.1% | 30.6% | ||
| Q3 25 | 45.2% | 32.3% | ||
| Q2 25 | 45.1% | 33.3% | ||
| Q1 25 | 47.7% | 28.6% | ||
| Q4 24 | 45.7% | 29.9% | ||
| Q3 24 | 45.5% | 31.0% | ||
| Q2 24 | 44.8% | 33.3% | ||
| Q1 24 | 47.3% | 29.5% |
营业利润率ADPCLH
| Q4 25 | 25.8% | 10.6% | ||
| Q3 25 | 25.3% | 12.5% | ||
| Q2 25 | 23.2% | 13.6% | ||
| Q1 25 | 29.2% | 7.8% | ||
| Q4 24 | 25.0% | 9.6% | ||
| Q3 24 | 25.6% | 12.6% | ||
| Q2 24 | 22.8% | 13.9% | ||
| Q1 24 | 29.4% | 9.1% |
净利率ADPCLH
| Q4 25 | 19.8% | 5.8% | ||
| Q3 25 | 19.6% | 7.7% | ||
| Q2 25 | 17.8% | 8.2% | ||
| Q1 25 | 22.5% | 4.1% | ||
| Q4 24 | 19.1% | 5.9% | ||
| Q3 24 | 19.8% | 7.5% | ||
| Q2 24 | 17.4% | 8.6% | ||
| Q1 24 | 22.6% | 5.1% |
每股收益（稀释后）ADPCLH
| Q4 25 | $2.62 | $1.62 | ||
| Q3 25 | $2.49 | $2.21 | ||
| Q2 25 | $2.23 | $2.36 | ||
| Q1 25 | $3.06 | $1.09 | ||
| Q4 24 | $2.35 | $1.55 | ||
| Q3 24 | $2.34 | $2.12 | ||
| Q2 24 | $2.01 | $2.46 | ||
| Q1 24 | $2.88 | $1.29 |
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 | $127.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.4B | $2.7B |
| 总资产 | $84.6B | $7.6B |
| 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ADPCLH
| Q4 25 | $2.5B | $127.4M | ||
| Q3 25 | $7.9B | $91.2M | ||
| Q2 25 | $7.8B | $98.9M | ||
| Q1 25 | $2.7B | $105.9M | ||
| Q4 24 | $2.2B | $102.6M | ||
| Q3 24 | $7.3B | $82.4M | ||
| Q2 24 | $3.3B | $91.3M | ||
| Q1 24 | $3.3B | $104.8M |
股东权益ADPCLH
| Q4 25 | $6.4B | $2.7B | ||
| Q3 25 | $6.4B | $2.8B | ||
| Q2 25 | $6.2B | $2.7B | ||
| Q1 25 | $5.9B | $2.6B | ||
| Q4 24 | $5.1B | $2.6B | ||
| Q3 24 | $5.3B | $2.5B | ||
| Q2 24 | $4.5B | $2.4B | ||
| Q1 24 | $4.6B | $2.3B |
总资产ADPCLH
| Q4 25 | $84.6B | $7.6B | ||
| Q3 25 | $54.3B | $7.5B | ||
| Q2 25 | $53.4B | $7.4B | ||
| Q1 25 | $56.4B | $7.2B | ||
| Q4 24 | $64.1B | $7.4B | ||
| Q3 24 | $49.5B | $7.3B | ||
| Q2 24 | $54.4B | $7.1B | ||
| Q1 24 | $64.2B | $6.9B |
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 | $355.1M |
| 自由现金流经营现金流 - 资本支出 | — | $233.3M |
| 自由现金流率自由现金流/营收 | — | 15.6% |
| 资本支出强度资本支出/营收 | — | 8.1% |
| 现金转化率经营现金流/净利润 | 1.07× | 4.10× |
| 过去12个月自由现金流最近4个季度 | — | $441.8M |
8季度趋势，按日历期对齐
经营现金流ADPCLH
| Q4 25 | $1.1B | $355.1M | ||
| Q3 25 | $642.3M | $302.0M | ||
| Q2 25 | $1.4B | $208.0M | ||
| Q1 25 | $1.5B | $1.6M | ||
| Q4 24 | $1.2B | $303.9M | ||
| Q3 24 | $824.4M | $239.2M | ||
| Q2 24 | $1.3B | $216.0M | ||
| Q1 24 | $1.5B | $18.5M |
自由现金流ADPCLH
| Q4 25 | — | $233.3M | ||
| Q3 25 | — | $207.5M | ||
| Q2 25 | — | $118.0M | ||
| Q1 25 | — | $-117.1M | ||
| Q4 24 | — | $241.5M | ||
| Q3 24 | — | $142.4M | ||
| Q2 24 | — | $80.9M | ||
| Q1 24 | — | $-119.4M |
自由现金流率ADPCLH
| Q4 25 | — | 15.6% | ||
| Q3 25 | — | 13.4% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | -8.2% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 9.3% | ||
| Q2 24 | — | 5.2% | ||
| Q1 24 | — | -8.7% |
资本支出强度ADPCLH
| Q4 25 | — | 8.1% | ||
| Q3 25 | — | 6.1% | ||
| Q2 25 | — | 5.8% | ||
| Q1 25 | — | 8.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 6.3% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | 10.0% |
现金转化率ADPCLH
| Q4 25 | 1.07× | 4.10× | ||
| Q3 25 | 0.63× | 2.54× | ||
| Q2 25 | 1.58× | 1.64× | ||
| Q1 25 | 1.22× | 0.03× | ||
| Q4 24 | 1.19× | 3.62× | ||
| Q3 24 | 0.86× | 2.08× | ||
| Q2 24 | 1.57× | 1.62× | ||
| Q1 24 | 1.26× | 0.27× |
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% |
CLH
| Technical Services | $479.3M | 32% |
| Safetly Kleen Environmental Services | $252.9M | 17% |
| Fieldand Emergency Response | $246.6M | 16% |
| Products | $205.3M | 14% |
| Safety Kleen Sustainability Solutions Segment | $188.4M | 13% |
| Safety Kleen Oil | $132.6M | 9% |
