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Automatic Data Processing（ADP）与FTAI Infrastructure Inc.（FIP）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FTAI Infrastructure Inc.的37.3倍（$5.4B vs $143.5M）。Automatic Data Processing净利率更高（19.8% vs -68.1%，领先87.9%）。FTAI Infrastructure Inc.同比增速更快（77.7% vs 6.2%）。过去两年FTAI Infrastructure Inc.的营收复合增速更高（31.9% 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。
FTAI基础设施有限公司持有、运营并投资交通物流、中游能源、发电等核心领域的优质关键基础设施资产，主要面向北美市场，聚焦拥有稳定长期现金流、合同约定收入流的项目，为利益相关方创造可持续回报。
ADP vs FIP — 直观对比
营收规模更大
ADP
是对方的37.3倍
$143.5M
营收增速更快
FIP
高出71.5%
6.2%
净利率更高
ADP
高出87.9%
-68.1%
两年增速更快
FIP
近两年复合增速
1.0%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $143.5M |
| 净利润 | $1.1B | $-97.7M |
| 毛利率 | 46.1% | — |
| 营业利润率 | 25.8% | -45.7% |
| 净利率 | 19.8% | -68.1% |
| 营收同比 | 6.2% | 77.7% |
| 净利润同比 | 10.3% | 21.6% |
| 每股收益（稀释后） | $2.62 | $-1.04 |
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ADPFIP
| Q4 25 | $5.4B | $143.5M | ||
| Q3 25 | $5.2B | $140.6M | ||
| Q2 25 | $5.1B | $122.3M | ||
| Q1 25 | $5.6B | $96.2M | ||
| Q4 24 | $5.0B | $80.8M | ||
| Q3 24 | $4.8B | $83.3M | ||
| Q2 24 | $4.8B | $84.9M | ||
| Q1 24 | $5.3B | $82.5M |
净利润ADPFIP
| Q4 25 | $1.1B | $-97.7M | ||
| Q3 25 | $1.0B | $-104.5M | ||
| Q2 25 | $910.7M | $-70.0M | ||
| Q1 25 | $1.2B | $120.2M | ||
| Q4 24 | $963.2M | $-124.7M | ||
| Q3 24 | $956.3M | $-43.0M | ||
| Q2 24 | $829.3M | $-48.1M | ||
| Q1 24 | $1.2B | $-50.3M |
毛利率ADPFIP
| 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% | — | ||
| Q1 24 | 47.3% | — |
营业利润率ADPFIP
| Q4 25 | 25.8% | -45.7% | ||
| Q3 25 | 25.3% | -70.8% | ||
| Q2 25 | 23.2% | -56.4% | ||
| Q1 25 | 29.2% | 81.8% | ||
| Q4 24 | 25.0% | -152.7% | ||
| Q3 24 | 25.6% | -51.7% | ||
| Q2 24 | 22.8% | -56.4% | ||
| Q1 24 | 29.4% | -58.8% |
净利率ADPFIP
| Q4 25 | 19.8% | -68.1% | ||
| Q3 25 | 19.6% | -74.4% | ||
| Q2 25 | 17.8% | -57.2% | ||
| Q1 25 | 22.5% | 125.0% | ||
| Q4 24 | 19.1% | -154.4% | ||
| Q3 24 | 19.8% | -51.6% | ||
| Q2 24 | 17.4% | -56.7% | ||
| Q1 24 | 22.6% | -60.9% |
每股收益（稀释后）ADPFIP
| Q4 25 | $2.62 | $-1.04 | ||
| Q3 25 | $2.49 | $-1.38 | ||
| Q2 25 | $2.23 | $-0.73 | ||
| Q1 25 | $3.06 | $0.89 | ||
| Q4 24 | $2.35 | $-1.21 | ||
| Q3 24 | $2.34 | $-0.45 | ||
| Q2 24 | $2.01 | $-0.52 | ||
| Q1 24 | $2.88 | $-0.54 |
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 | $57.4M |
| 总债务越低越好 | — | $3.8B |
| 股东权益账面价值 | $6.4B | $21.3M |
| 总资产 | $84.6B | $5.7B |
| 负债/权益比越低杠杆越低 | — | 176.99× |
8季度趋势，按日历期对齐
现金及短期投资ADPFIP
| Q4 25 | $2.5B | $57.4M | ||
| Q3 25 | $7.9B | $34.7M | ||
| Q2 25 | $7.8B | $33.6M | ||
| Q1 25 | $2.7B | $26.3M | ||
| Q4 24 | $2.2B | $27.8M | ||
| Q3 24 | $7.3B | $20.3M | ||
| Q2 24 | $3.3B | $33.1M | ||
| Q1 24 | $3.3B | $23.0M |
总债务ADPFIP
| Q4 25 | — | $3.8B | ||
| Q3 25 | — | $3.7B | ||
| Q2 25 | — | $3.1B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | — | $1.3B |
股东权益ADPFIP
| Q4 25 | $6.4B | $21.3M | ||
| Q3 25 | $6.4B | $181.1M | ||
| Q2 25 | $6.2B | $375.5M | ||
| Q1 25 | $5.9B | $476.2M | ||
| Q4 24 | $5.1B | $202.7M | ||
| Q3 24 | $5.3B | $370.8M | ||
| Q2 24 | $4.5B | $394.8M | ||
| Q1 24 | $4.6B | $402.5M |
总资产ADPFIP
| Q4 25 | $84.6B | $5.7B | ||
| Q3 25 | $54.3B | $5.5B | ||
| Q2 25 | $53.4B | $4.4B | ||
| Q1 25 | $56.4B | $4.1B | ||
| Q4 24 | $64.1B | $2.4B | ||
| Q3 24 | $49.5B | $2.4B | ||
| Q2 24 | $54.4B | $2.5B | ||
| Q1 24 | $64.2B | $2.3B |
负债/权益比ADPFIP
| Q4 25 | — | 176.99× | ||
| Q3 25 | — | 20.59× | ||
| Q2 25 | — | 8.21× | ||
| Q1 25 | — | 5.79× | ||
| Q4 24 | — | 7.84× | ||
| Q3 24 | — | 4.14× | ||
| Q2 24 | — | 3.94× | ||
| Q1 24 | — | 3.34× |
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 | $-2.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-68.6M |
| 自由现金流率自由现金流/营收 | — | -47.8% |
| 资本支出强度资本支出/营收 | — | 45.9% |
| 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 | — | $-398.5M |
8季度趋势，按日历期对齐
经营现金流ADPFIP
| Q4 25 | $1.1B | $-2.8M | ||
| Q3 25 | $642.3M | $-24.4M | ||
| Q2 25 | $1.4B | $-5.2M | ||
| Q1 25 | $1.5B | $-85.7M | ||
| Q4 24 | $1.2B | $-8.1M | ||
| Q3 24 | $824.4M | $14.2M | ||
| Q2 24 | $1.3B | $-17.6M | ||
| Q1 24 | $1.5B | $-3.9M |
自由现金流ADPFIP
| Q4 25 | — | $-68.6M | ||
| Q3 25 | — | $-90.7M | ||
| Q2 25 | — | $-87.5M | ||
| Q1 25 | — | $-151.7M | ||
| Q4 24 | — | $-34.3M | ||
| Q3 24 | — | $-11.7M | ||
| Q2 24 | — | $-32.1M | ||
| Q1 24 | — | $-16.7M |
自由现金流率ADPFIP
| Q4 25 | — | -47.8% | ||
| Q3 25 | — | -64.5% | ||
| Q2 25 | — | -71.6% | ||
| Q1 25 | — | -157.7% | ||
| Q4 24 | — | -42.4% | ||
| Q3 24 | — | -14.0% | ||
| Q2 24 | — | -37.9% | ||
| Q1 24 | — | -20.3% |
资本支出强度ADPFIP
| Q4 25 | — | 45.9% | ||
| Q3 25 | — | 47.2% | ||
| Q2 25 | — | 67.3% | ||
| Q1 25 | — | 68.6% | ||
| Q4 24 | — | 32.5% | ||
| Q3 24 | — | 31.1% | ||
| Q2 24 | — | 17.2% | ||
| Q1 24 | — | 15.6% |
现金转化率ADPFIP
| Q4 25 | 1.07× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 1.58× | — | ||
| Q1 25 | 1.22× | -0.71× | ||
| Q4 24 | 1.19× | — | ||
| Q3 24 | 0.86× | — | ||
| 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% |
FIP
| Power Revenues | $45.9M | 32% |
| Rail Revenue | $44.6M | 31% |
| Service Other | $22.8M | 16% |
| Gas Revenues | $15.3M | 11% |
| Roadside Services Revenues | $11.5M | 8% |
| Rapauno | $1.2M | 1% |
