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Automatic Data Processing（ADP）与DoorDash（DASH）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DoorDash的1.5倍（$5.9B vs $4.0B），Automatic Data Processing净利率更高（22.9% vs 7.1%，领先15.8%），DoorDash同比增速更快（8.3% vs 7.0%），过去两年DoorDash的营收复合增速更高（23.9% vs 11.6%）
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。
DoorDash是美国头部在线订餐及配送平台，也是美国规模最大的外卖配送服务商，占据当地外卖配送市场56%的份额，便民配送品类市场占比更是高达60%。截至2020年12月31日，平台合作商户超45万家，服务消费者超2000万，注册配送员数量突破100万。
ADP vs DASH — 直观对比
营收规模更大
ADP
是对方的1.5倍
$4.0B
营收增速更快
DASH
高出1.4%
7.0%
净利率更高
ADP
高出15.8%
7.1%
两年增速更快
DASH
近两年复合增速
11.6%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $5.9B | $4.0B |
| 净利润 | $1.4B | $285.0M |
| 毛利率 | — | 39.8% |
| 营业利润率 | — | 3.7% |
| 净利率 | 22.9% | 7.1% |
| 营收同比 | 7.0% | 8.3% |
| 净利润同比 | 8.4% | 47.7% |
| 每股收益（稀释后） | $3.38 | $0.42 |
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ADPDASH
| Q1 26 | $5.9B | $4.0B | ||
| Q4 25 | $5.4B | $4.0B | ||
| Q3 25 | $5.2B | $3.4B | ||
| Q2 25 | $5.1B | $3.3B | ||
| Q1 25 | $5.6B | $3.0B | ||
| Q4 24 | $5.0B | $2.9B | ||
| Q3 24 | $4.8B | $2.7B | ||
| Q2 24 | $4.8B | $2.6B |
净利润ADPDASH
| Q1 26 | $1.4B | $285.0M | ||
| Q4 25 | $1.1B | $213.0M | ||
| Q3 25 | $1.0B | $244.0M | ||
| Q2 25 | $910.7M | $285.0M | ||
| Q1 25 | $1.2B | $193.0M | ||
| Q4 24 | $963.2M | $141.0M | ||
| Q3 24 | $956.3M | $162.0M | ||
| Q2 24 | $829.3M | $-157.0M |
毛利率ADPDASH
| Q1 26 | — | 39.8% | ||
| Q4 25 | 46.1% | — | ||
| Q3 25 | 45.2% | — | ||
| Q2 25 | 45.1% | — | ||
| Q1 25 | 47.7% | — | ||
| Q4 24 | 45.7% | — | ||
| Q3 24 | 45.5% | — | ||
| Q2 24 | 44.8% | — |
营业利润率ADPDASH
| Q1 26 | — | 3.7% | ||
| Q4 25 | 25.8% | 3.7% | ||
| Q3 25 | 25.3% | 7.5% | ||
| Q2 25 | 23.2% | 5.0% | ||
| Q1 25 | 29.2% | 5.1% | ||
| Q4 24 | 25.0% | 4.1% | ||
| Q3 24 | 25.6% | 4.0% | ||
| Q2 24 | 22.8% | -7.6% |
净利率ADPDASH
| Q1 26 | 22.9% | 7.1% | ||
| Q4 25 | 19.8% | 5.4% | ||
| Q3 25 | 19.6% | 7.1% | ||
| Q2 25 | 17.8% | 8.7% | ||
| Q1 25 | 22.5% | 6.4% | ||
| Q4 24 | 19.1% | 4.9% | ||
| Q3 24 | 19.8% | 6.0% | ||
| Q2 24 | 17.4% | -6.0% |
每股收益（稀释后）ADPDASH
| Q1 26 | $3.38 | $0.42 | ||
| Q4 25 | $2.62 | $0.49 | ||
| Q3 25 | $2.49 | $0.55 | ||
| Q2 25 | $2.23 | $0.65 | ||
| Q1 25 | $3.06 | $0.44 | ||
| Q4 24 | $2.35 | $0.35 | ||
| Q3 24 | $2.34 | $0.38 | ||
| Q2 24 | $2.01 | $-0.38 |
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 | $3.2B | $5.5B |
| 总债务越低越好 | $4.0B | — |
| 股东权益账面价值 | $6.4B | $10.2B |
| 总资产 | $64.5B | $19.7B |
| 负债/权益比越低杠杆越低 | 0.63× | — |
8季度趋势，按日历期对齐
现金及短期投资ADPDASH
| Q1 26 | $3.2B | $5.5B | ||
| Q4 25 | $2.5B | $4.4B | ||
| Q3 25 | $7.9B | $3.3B | ||
| Q2 25 | $7.8B | $3.9B | ||
| Q1 25 | $2.7B | $4.5B | ||
| Q4 24 | $2.2B | $4.0B | ||
| Q3 24 | $7.3B | $3.7B | ||
| Q2 24 | $3.3B | $3.4B |
总债务ADPDASH
| Q1 26 | $4.0B | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益ADPDASH
| Q1 26 | $6.4B | $10.2B | ||
| Q4 25 | $6.4B | $10.0B | ||
| Q3 25 | $6.4B | $9.5B | ||
| Q2 25 | $6.2B | $8.9B | ||
| Q1 25 | $5.9B | $8.4B | ||
| Q4 24 | $5.1B | $7.8B | ||
| Q3 24 | $5.3B | $7.6B | ||
| Q2 24 | $4.5B | $7.2B |
总资产ADPDASH
| Q1 26 | $64.5B | $19.7B | ||
| Q4 25 | $84.6B | $19.7B | ||
| Q3 25 | $54.3B | $18.0B | ||
| Q2 25 | $53.4B | $16.9B | ||
| Q1 25 | $56.4B | $13.6B | ||
| Q4 24 | $64.1B | $12.8B | ||
| Q3 24 | $49.5B | $12.3B | ||
| Q2 24 | $54.4B | $11.8B |
负债/权益比ADPDASH
| Q1 26 | 0.63× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $504.0M |
| 自由现金流经营现金流 - 资本支出 | — | $355.0M |
| 自由现金流率自由现金流/营收 | — | 8.8% |
| 资本支出强度资本支出/营收 | 2.1% | — |
| 现金转化率经营现金流/净利润 | — | 1.77× |
| 过去12个月自由现金流最近4个季度 | — | $2.0B |
8季度趋势，按日历期对齐
经营现金流ADPDASH
| Q1 26 | — | $504.0M | ||
| Q4 25 | $1.1B | $421.0M | ||
| Q3 25 | $642.3M | $871.0M | ||
| Q2 25 | $1.4B | $504.0M | ||
| Q1 25 | $1.5B | $635.0M | ||
| Q4 24 | $1.2B | $518.0M | ||
| Q3 24 | $824.4M | $531.0M | ||
| Q2 24 | $1.3B | $530.0M |
自由现金流ADPDASH
| Q1 26 | — | $355.0M | ||
| Q4 25 | — | $367.0M | ||
| Q3 25 | — | $808.0M | ||
| Q2 25 | — | $438.0M | ||
| Q1 25 | — | $561.0M | ||
| Q4 24 | — | $486.0M | ||
| Q3 24 | — | $499.0M | ||
| Q2 24 | — | $507.0M |
自由现金流率ADPDASH
| Q1 26 | — | 8.8% | ||
| Q4 25 | — | 9.3% | ||
| Q3 25 | — | 23.4% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | — | 18.5% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | — | 18.4% | ||
| Q2 24 | — | 19.3% |
资本支出强度ADPDASH
| Q1 26 | 2.1% | — | ||
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 0.9% |
现金转化率ADPDASH
| Q1 26 | — | 1.77× | ||
| Q4 25 | 1.07× | 1.98× | ||
| Q3 25 | 0.63× | 3.57× | ||
| Q2 25 | 1.58× | 1.77× | ||
| Q1 25 | 1.22× | 3.29× | ||
| Q4 24 | 1.19× | 3.67× | ||
| Q3 24 | 0.86× | 3.28× | ||
| Q2 24 | 1.57× | — |
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
| Revenues, other than interest on funds held for clients and PEO revenues | $3.6B | 61% |
| PEO revenues (A) (B) (C) | $1.9B | 32% |
| Other | $403.9M | 7% |
DASH
暂无分部数据
