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Automatic Data Processing（ADP）与Evolent Health, Inc.（EVH）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Evolent Health, Inc.的11.4倍（$5.4B vs $468.7M）。Automatic Data Processing净利率更高（19.8% vs -91.6%，领先111.4%）。Automatic Data Processing同比增速更快（6.2% vs -27.5%）。过去两年Automatic Data Processing的营收复合增速更高（1.0% vs -14.4%）
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。
马奎尔健康是一家美国营利性医疗管理企业，目前为森特里奇旗下子公司，核心服务对象为特殊群体，业务聚焦医疗领域多个细分赛道。客户群体涵盖健康保险计划、其他管理式医疗机构、企业、工会、各类军事与政府机构以及第三方管理机构，2021年位列财富美国500强第390名。
ADP vs EVH — 直观对比
营收规模更大
ADP
是对方的11.4倍
$468.7M
营收增速更快
ADP
高出33.7%
-27.5%
净利率更高
ADP
高出111.4%
-91.6%
两年增速更快
ADP
近两年复合增速
-14.4%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $468.7M |
| 净利润 | $1.1B | $-429.1M |
| 毛利率 | 46.1% | 20.7% |
| 营业利润率 | 25.8% | -87.1% |
| 净利率 | 19.8% | -91.6% |
| 营收同比 | 6.2% | -27.5% |
| 净利润同比 | 10.3% | -1782.0% |
| 每股收益（稀释后） | $2.62 | $-3.76 |
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ADPEVH
| Q4 25 | $5.4B | $468.7M | ||
| Q3 25 | $5.2B | $479.5M | ||
| Q2 25 | $5.1B | $444.3M | ||
| Q1 25 | $5.6B | $483.6M | ||
| Q4 24 | $5.0B | $646.5M | ||
| Q3 24 | $4.8B | $621.4M | ||
| Q2 24 | $4.8B | $647.1M | ||
| Q1 24 | $5.3B | $639.7M |
净利润ADPEVH
| Q4 25 | $1.1B | $-429.1M | ||
| Q3 25 | $1.0B | $-20.9M | ||
| Q2 25 | $910.7M | $-19.9M | ||
| Q1 25 | $1.2B | $-64.6M | ||
| Q4 24 | $963.2M | $-22.8M | ||
| Q3 24 | $956.3M | $-23.1M | ||
| Q2 24 | $829.3M | $1.6M | ||
| Q1 24 | $1.2B | $-17.3M |
毛利率ADPEVH
| Q4 25 | 46.1% | 20.7% | ||
| Q3 25 | 45.2% | 20.8% | ||
| Q2 25 | 45.1% | 22.6% | ||
| Q1 25 | 47.7% | 21.2% | ||
| Q4 24 | 45.7% | 11.7% | ||
| Q3 24 | 45.5% | 13.0% | ||
| Q2 24 | 44.8% | 16.5% | ||
| Q1 24 | 47.3% | 16.3% |
营业利润率ADPEVH
| Q4 25 | 25.8% | -87.1% | ||
| Q3 25 | 25.3% | 0.2% | ||
| Q2 25 | 23.2% | -0.3% | ||
| Q1 25 | 29.2% | -0.3% | ||
| Q4 24 | 25.0% | -2.9% | ||
| Q3 24 | 25.6% | -2.6% | ||
| Q2 24 | 22.8% | 1.2% | ||
| Q1 24 | 29.4% | -2.1% |
净利率ADPEVH
| Q4 25 | 19.8% | -91.6% | ||
| Q3 25 | 19.6% | -4.4% | ||
| Q2 25 | 17.8% | -4.5% | ||
| Q1 25 | 22.5% | -13.4% | ||
| Q4 24 | 19.1% | -3.5% | ||
| Q3 24 | 19.8% | -3.7% | ||
| Q2 24 | 17.4% | 0.2% | ||
| Q1 24 | 22.6% | -2.7% |
每股收益（稀释后）ADPEVH
| Q4 25 | $2.62 | $-3.76 | ||
| Q3 25 | $2.49 | $-0.24 | ||
| Q2 25 | $2.23 | $-0.44 | ||
| Q1 25 | $3.06 | $-0.63 | ||
| Q4 24 | $2.35 | $-0.26 | ||
| Q3 24 | $2.34 | $-0.27 | ||
| Q2 24 | $2.01 | $-0.06 | ||
| Q1 24 | $2.88 | $-0.22 |
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 | $151.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.4B | $415.2M |
| 总资产 | $84.6B | $1.9B |
| 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ADPEVH
| Q4 25 | $2.5B | $151.9M | ||
| Q3 25 | $7.9B | $116.7M | ||
| Q2 25 | $7.8B | $151.0M | ||
| Q1 25 | $2.7B | $246.5M | ||
| Q4 24 | $2.2B | $104.2M | ||
| Q3 24 | $7.3B | $96.6M | ||
| Q2 24 | $3.3B | $101.3M | ||
| Q1 24 | $3.3B | $165.1M |
股东权益ADPEVH
| Q4 25 | $6.4B | $415.2M | ||
| Q3 25 | $6.4B | $842.2M | ||
| Q2 25 | $6.2B | $896.0M | ||
| Q1 25 | $5.9B | $935.5M | ||
| Q4 24 | $5.1B | $1.0B | ||
| Q3 24 | $5.3B | $1.0B | ||
| Q2 24 | $4.5B | $1.1B | ||
| Q1 24 | $4.6B | $1.0B |
总资产ADPEVH
| Q4 25 | $84.6B | $1.9B | ||
| Q3 25 | $54.3B | $2.5B | ||
| Q2 25 | $53.4B | $2.5B | ||
| Q1 25 | $56.4B | $2.7B | ||
| Q4 24 | $64.1B | $2.5B | ||
| Q3 24 | $49.5B | $2.5B | ||
| Q2 24 | $54.4B | $2.5B | ||
| Q1 24 | $64.2B | $2.6B |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 现金转化率经营现金流/净利润 | 1.07× | — |
| 过去12个月自由现金流最近4个季度 | — | — |
8季度趋势，按日历期对齐
经营现金流ADPEVH
| Q4 25 | $1.1B | $48.8M | ||
| Q3 25 | $642.3M | $15.8M | ||
| Q2 25 | $1.4B | $-30.3M | ||
| Q1 25 | $1.5B | $4.6M | ||
| Q4 24 | $1.2B | $-26.2M | ||
| Q3 24 | $824.4M | $18.7M | ||
| Q2 24 | $1.3B | $21.4M | ||
| Q1 24 | $1.5B | $4.9M |
现金转化率ADPEVH
| Q4 25 | 1.07× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.19× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 1.57× | 13.42× | ||
| 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% |
EVH
| Commercial And Other Customers | $147.9M | 32% |
| Medicare Customers | $111.2M | 24% |
| Specialty Technology And Services Suite | $95.7M | 20% |
| Administrative Service | $55.8M | 12% |
| Cases | $47.7M | 10% |
| Related Party | $4.5M | 1% |
