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Automatic Data Processing（ADP）与COHERENT CORP.（COHR）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COHERENT CORP.的3.2倍（$5.4B vs $1.7B）。Automatic Data Processing净利率更高（19.8% vs 8.7%，领先11.1%）。COHERENT CORP.同比增速更快（17.5% vs 6.2%）。过去两年COHERENT CORP.的营收复合增速更高（18.1% 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。
Coherent Corp.是美国专业光学材料与半导体生产商，2023年全球员工规模达26622人。2022年原II-VI公司收购激光制造商Coherent, Inc.后更名为现名，产品广泛应用于通信、工业、医疗等众多领域。
ADP vs COHR — 直观对比
营收规模更大
ADP
是对方的3.2倍
$1.7B
营收增速更快
COHR
高出11.3%
6.2%
净利率更高
ADP
高出11.1%
8.7%
两年增速更快
COHR
近两年复合增速
1.0%
损益表 — Q2 2026 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $1.7B |
| 净利润 | $1.1B | $146.7M |
| 毛利率 | 46.1% | 36.9% |
| 营业利润率 | 25.8% | 10.0% |
| 净利率 | 19.8% | 8.7% |
| 营收同比 | 6.2% | 17.5% |
| 净利润同比 | 10.3% | 41.9% |
| 每股收益（稀释后） | $2.62 | $0.76 |
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ADPCOHR
| Q4 25 | $5.4B | $1.7B | ||
| Q3 25 | $5.2B | $1.6B | ||
| Q2 25 | $5.1B | $1.5B | ||
| Q1 25 | $5.6B | $1.5B | ||
| Q4 24 | $5.0B | $1.4B | ||
| Q3 24 | $4.8B | $1.3B | ||
| Q2 24 | $4.8B | $1.3B | ||
| Q1 24 | $5.3B | $1.2B |
净利润ADPCOHR
| Q4 25 | $1.1B | $146.7M | ||
| Q3 25 | $1.0B | $226.3M | ||
| Q2 25 | $910.7M | $-95.6M | ||
| Q1 25 | $1.2B | $15.7M | ||
| Q4 24 | $963.2M | $103.4M | ||
| Q3 24 | $956.3M | $25.9M | ||
| Q2 24 | $829.3M | $-48.4M | ||
| Q1 24 | $1.2B | $-13.2M |
毛利率ADPCOHR
| Q4 25 | 46.1% | 36.9% | ||
| Q3 25 | 45.2% | 36.6% | ||
| Q2 25 | 45.1% | 35.7% | ||
| Q1 25 | 47.7% | 35.2% | ||
| Q4 24 | 45.7% | 35.5% | ||
| Q3 24 | 45.5% | 34.1% | ||
| Q2 24 | 44.8% | 32.9% | ||
| Q1 24 | 47.3% | 30.3% |
营业利润率ADPCOHR
| Q4 25 | 25.8% | 10.0% | ||
| Q3 25 | 25.3% | 13.7% | ||
| Q2 25 | 23.2% | -4.1% | ||
| Q1 25 | 29.2% | 0.7% | ||
| Q4 24 | 25.0% | 9.0% | ||
| Q3 24 | 25.6% | 1.4% | ||
| Q2 24 | 22.8% | 4.8% | ||
| Q1 24 | 29.4% | 1.8% |
净利率ADPCOHR
| Q4 25 | 19.8% | 8.7% | ||
| Q3 25 | 19.6% | 14.3% | ||
| Q2 25 | 17.8% | -6.3% | ||
| Q1 25 | 22.5% | 1.0% | ||
| Q4 24 | 19.1% | 7.2% | ||
| Q3 24 | 19.8% | 1.9% | ||
| Q2 24 | 17.4% | -3.7% | ||
| Q1 24 | 22.6% | -1.1% |
每股收益（稀释后）ADPCOHR
| Q4 25 | $2.62 | $0.76 | ||
| Q3 25 | $2.49 | $1.19 | ||
| Q2 25 | $2.23 | $-0.81 | ||
| Q1 25 | $3.06 | $-0.11 | ||
| Q4 24 | $2.35 | $0.44 | ||
| Q3 24 | $2.34 | $-0.04 | ||
| Q2 24 | $2.01 | $-0.52 | ||
| Q1 24 | $2.88 | $-0.29 |
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 | $863.7M |
| 总债务越低越好 | — | $3.4B |
| 股东权益账面价值 | $6.4B | $8.5B |
| 总资产 | $84.6B | $15.1B |
| 负债/权益比越低杠杆越低 | — | 0.39× |
8季度趋势，按日历期对齐
现金及短期投资ADPCOHR
| Q4 25 | $2.5B | $863.7M | ||
| Q3 25 | $7.9B | $852.8M | ||
| Q2 25 | $7.8B | $909.2M | ||
| Q1 25 | $2.7B | $890.3M | ||
| Q4 24 | $2.2B | $917.8M | ||
| Q3 24 | $7.3B | $1.0B | ||
| Q2 24 | $3.3B | $926.0M | ||
| Q1 24 | $3.3B | $898.6M |
总债务ADPCOHR
| Q4 25 | — | $3.4B | ||
| Q3 25 | — | $3.3B | ||
| Q2 25 | — | $3.7B | ||
| Q1 25 | — | $3.7B | ||
| Q4 24 | — | $3.9B | ||
| Q3 24 | — | $4.0B | ||
| Q2 24 | — | $4.1B | ||
| Q1 24 | — | $4.2B |
股东权益ADPCOHR
| Q4 25 | $6.4B | $8.5B | ||
| Q3 25 | $6.4B | $5.8B | ||
| Q2 25 | $6.2B | $5.6B | ||
| Q1 25 | $5.9B | $5.4B | ||
| Q4 24 | $5.1B | $5.2B | ||
| Q3 24 | $5.3B | $5.5B | ||
| Q2 24 | $4.5B | $5.2B | ||
| Q1 24 | $4.6B | $5.3B |
总资产ADPCOHR
| Q4 25 | $84.6B | $15.1B | ||
| Q3 25 | $54.3B | $14.7B | ||
| Q2 25 | $53.4B | $14.9B | ||
| Q1 25 | $56.4B | $14.4B | ||
| Q4 24 | $64.1B | $14.2B | ||
| Q3 24 | $49.5B | $14.7B | ||
| Q2 24 | $54.4B | $14.5B | ||
| Q1 24 | $64.2B | $14.5B |
负债/权益比ADPCOHR
| Q4 25 | — | 0.39× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | 0.73× | ||
| Q2 24 | — | 0.79× | ||
| Q1 24 | — | 0.78× |
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 | $57.9M |
| 自由现金流经营现金流 - 资本支出 | — | $-95.7M |
| 自由现金流率自由现金流/营收 | — | -5.7% |
| 资本支出强度资本支出/营收 | — | 9.1% |
| 现金转化率经营现金流/净利润 | 1.07× | 0.39× |
| 过去12个月自由现金流最近4个季度 | — | $-103.6M |
8季度趋势，按日历期对齐
经营现金流ADPCOHR
| Q4 25 | $1.1B | $57.9M | ||
| Q3 25 | $642.3M | $46.0M | ||
| Q2 25 | $1.4B | $130.3M | ||
| Q1 25 | $1.5B | $163.0M | ||
| Q4 24 | $1.2B | $187.4M | ||
| Q3 24 | $824.4M | $153.0M | ||
| Q2 24 | $1.3B | $162.3M | ||
| Q1 24 | $1.5B | $117.4M |
自由现金流ADPCOHR
| Q4 25 | — | $-95.7M | ||
| Q3 25 | — | $-58.0M | ||
| Q2 25 | — | $-1.1M | ||
| Q1 25 | — | $51.1M | ||
| Q4 24 | — | $81.7M | ||
| Q3 24 | — | $61.0M | ||
| Q2 24 | — | $62.4M | ||
| Q1 24 | — | $24.2M |
自由现金流率ADPCOHR
| Q4 25 | — | -5.7% | ||
| Q3 25 | — | -3.7% | ||
| Q2 25 | — | -0.1% | ||
| Q1 25 | — | 3.4% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | — | 4.5% | ||
| Q2 24 | — | 4.7% | ||
| Q1 24 | — | 2.0% |
资本支出强度ADPCOHR
| Q4 25 | — | 9.1% | ||
| Q3 25 | — | 6.6% | ||
| Q2 25 | — | 8.6% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | — | 7.4% | ||
| Q3 24 | — | 6.8% | ||
| Q2 24 | — | 7.6% | ||
| Q1 24 | — | 7.7% |
现金转化率ADPCOHR
| Q4 25 | 1.07× | 0.39× | ||
| Q3 25 | 0.63× | 0.20× | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.22× | 10.37× | ||
| Q4 24 | 1.19× | 1.81× | ||
| Q3 24 | 0.86× | 5.91× | ||
| Q2 24 | 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
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% |
COHR
| Datacenter And Communications Segment | $1.2B | 72% |
| Industrial Segment | $477.7M | 28% |
