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Automatic Data Processing（ADP）与COMFORT SYSTEMS USA INC（FIX）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COMFORT SYSTEMS USA INC的2.0倍（$5.4B vs $2.6B）。Automatic Data Processing净利率更高（19.8% vs 12.5%，领先7.3%）。COMFORT SYSTEMS USA INC同比增速更快（41.7% vs 6.2%）。过去两年COMFORT SYSTEMS USA INC的营收复合增速更高（31.2% 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。
Comfort Systems USA Inc.是一家美国企业，主营机电工程承包服务，核心业务覆盖暖通空调、给排水、管道工程、控制系统、场外预制建造、监测服务、消防系统，以及电气系统的安装与运维，为各类客户提供一体化机电设施解决方案。
ADP vs FIX — 直观对比
营收规模更大
ADP
是对方的2.0倍
$2.6B
营收增速更快
FIX
高出35.5%
6.2%
净利率更高
ADP
高出7.3%
12.5%
两年增速更快
FIX
近两年复合增速
1.0%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $2.6B |
| 净利润 | $1.1B | $330.8M |
| 毛利率 | 46.1% | 25.5% |
| 营业利润率 | 25.8% | 16.1% |
| 净利率 | 19.8% | 12.5% |
| 营收同比 | 6.2% | 41.7% |
| 净利润同比 | 10.3% | 126.8% |
| 每股收益（稀释后） | $2.62 | $9.35 |
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ADPFIX
| Q4 25 | $5.4B | $2.6B | ||
| Q3 25 | $5.2B | $2.5B | ||
| Q2 25 | $5.1B | $2.2B | ||
| Q1 25 | $5.6B | $1.8B | ||
| Q4 24 | $5.0B | $1.9B | ||
| Q3 24 | $4.8B | $1.8B | ||
| Q2 24 | $4.8B | $1.8B | ||
| Q1 24 | $5.3B | $1.5B |
净利润ADPFIX
| Q4 25 | $1.1B | $330.8M | ||
| Q3 25 | $1.0B | $291.6M | ||
| Q2 25 | $910.7M | $230.8M | ||
| Q1 25 | $1.2B | $169.3M | ||
| Q4 24 | $963.2M | $145.9M | ||
| Q3 24 | $956.3M | $146.2M | ||
| Q2 24 | $829.3M | $134.0M | ||
| Q1 24 | $1.2B | $96.3M |
毛利率ADPFIX
| Q4 25 | 46.1% | 25.5% | ||
| Q3 25 | 45.2% | 24.8% | ||
| Q2 25 | 45.1% | 23.5% | ||
| Q1 25 | 47.7% | 22.0% | ||
| Q4 24 | 45.7% | 23.2% | ||
| Q3 24 | 45.5% | 21.1% | ||
| Q2 24 | 44.8% | 20.1% | ||
| Q1 24 | 47.3% | 19.3% |
营业利润率ADPFIX
| Q4 25 | 25.8% | 16.1% | ||
| Q3 25 | 25.3% | 15.5% | ||
| Q2 25 | 23.2% | 13.8% | ||
| Q1 25 | 29.2% | 11.4% | ||
| Q4 24 | 25.0% | 12.1% | ||
| Q3 24 | 25.6% | 11.2% | ||
| Q2 24 | 22.8% | 10.2% | ||
| Q1 24 | 29.4% | 8.8% |
净利率ADPFIX
| Q4 25 | 19.8% | 12.5% | ||
| Q3 25 | 19.6% | 11.9% | ||
| Q2 25 | 17.8% | 10.6% | ||
| Q1 25 | 22.5% | 9.2% | ||
| Q4 24 | 19.1% | 7.8% | ||
| Q3 24 | 19.8% | 8.1% | ||
| Q2 24 | 17.4% | 7.4% | ||
| Q1 24 | 22.6% | 6.3% |
每股收益（稀释后）ADPFIX
| Q4 25 | $2.62 | $9.35 | ||
| Q3 25 | $2.49 | $8.25 | ||
| Q2 25 | $2.23 | $6.53 | ||
| Q1 25 | $3.06 | $4.75 | ||
| Q4 24 | $2.35 | $4.08 | ||
| Q3 24 | $2.34 | $4.09 | ||
| Q2 24 | $2.01 | $3.74 | ||
| Q1 24 | $2.88 | $2.69 |
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 | $981.9M |
| 总债务越低越好 | — | $145.2M |
| 股东权益账面价值 | $6.4B | $2.4B |
| 总资产 | $84.6B | $6.4B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资ADPFIX
| Q4 25 | $2.5B | $981.9M | ||
| Q3 25 | $7.9B | $860.5M | ||
| Q2 25 | $7.8B | $331.7M | ||
| Q1 25 | $2.7B | $204.8M | ||
| Q4 24 | $2.2B | $549.9M | ||
| Q3 24 | $7.3B | $415.6M | ||
| Q2 24 | $3.3B | $199.4M | ||
| Q1 24 | $3.3B | $100.8M |
总债务ADPFIX
| Q4 25 | — | $145.2M | ||
| Q3 25 | — | $136.0M | ||
| Q2 25 | — | $73.0M | ||
| Q1 25 | — | $67.8M | ||
| Q4 24 | — | $68.3M | ||
| Q3 24 | — | $62.3M | ||
| Q2 24 | — | $73.4M | ||
| Q1 24 | — | $77.0M |
股东权益ADPFIX
| Q4 25 | $6.4B | $2.4B | ||
| Q3 25 | $6.4B | $2.2B | ||
| Q2 25 | $6.2B | $2.0B | ||
| Q1 25 | $5.9B | $1.8B | ||
| Q4 24 | $5.1B | $1.7B | ||
| Q3 24 | $5.3B | $1.6B | ||
| Q2 24 | $4.5B | $1.5B | ||
| Q1 24 | $4.6B | $1.4B |
总资产ADPFIX
| Q4 25 | $84.6B | $6.4B | ||
| Q3 25 | $54.3B | $5.8B | ||
| Q2 25 | $53.4B | $5.1B | ||
| Q1 25 | $56.4B | $4.6B | ||
| Q4 24 | $64.1B | $4.7B | ||
| Q3 24 | $49.5B | $4.4B | ||
| Q2 24 | $54.4B | $4.2B | ||
| Q1 24 | $64.2B | $3.9B |
负债/权益比ADPFIX
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.05× | ||
| Q1 24 | — | 0.06× |
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 | $468.5M |
| 自由现金流经营现金流 - 资本支出 | — | $402.4M |
| 自由现金流率自由现金流/营收 | — | 15.2% |
| 资本支出强度资本支出/营收 | — | 2.5% |
| 现金转化率经营现金流/净利润 | 1.07× | 1.42× |
| 过去12个月自由现金流最近4个季度 | — | $1.0B |
8季度趋势，按日历期对齐
经营现金流ADPFIX
| Q4 25 | $1.1B | $468.5M | ||
| Q3 25 | $642.3M | $553.3M | ||
| Q2 25 | $1.4B | $252.5M | ||
| Q1 25 | $1.5B | $-88.0M | ||
| Q4 24 | $1.2B | $210.5M | ||
| Q3 24 | $824.4M | $302.2M | ||
| Q2 24 | $1.3B | $189.9M | ||
| Q1 24 | $1.5B | $146.6M |
自由现金流ADPFIX
| Q4 25 | — | $402.4M | ||
| Q3 25 | — | $517.9M | ||
| Q2 25 | — | $221.2M | ||
| Q1 25 | — | $-110.2M | ||
| Q4 24 | — | $169.8M | ||
| Q3 24 | — | $280.1M | ||
| Q2 24 | — | $166.5M | ||
| Q1 24 | — | $121.6M |
自由现金流率ADPFIX
| Q4 25 | — | 15.2% | ||
| Q3 25 | — | 21.1% | ||
| Q2 25 | — | 10.2% | ||
| Q1 25 | — | -6.0% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | — | 15.5% | ||
| Q2 24 | — | 9.2% | ||
| Q1 24 | — | 7.9% |
资本支出强度ADPFIX
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 1.2% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.6% |
现金转化率ADPFIX
| Q4 25 | 1.07× | 1.42× | ||
| Q3 25 | 0.63× | 1.90× | ||
| Q2 25 | 1.58× | 1.09× | ||
| Q1 25 | 1.22× | -0.52× | ||
| Q4 24 | 1.19× | 1.44× | ||
| Q3 24 | 0.86× | 2.07× | ||
| Q2 24 | 1.57× | 1.42× | ||
| Q1 24 | 1.26× | 1.52× |
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% |
FIX
| Electrical Segment | $823.7M | 31% |
| Manufacturing Customer | $542.7M | 21% |
| Existing Building Construction | $491.4M | 19% |
| Healthcare Sector Customer | $220.8M | 8% |
| Service Projects | $153.0M | 6% |
| Education | $137.5M | 5% |
| Government Customer | $131.0M | 5% |
| Office Building Customer | $88.2M | 3% |
| Other Customer | $40.7M | 2% |
| Multi Family And Residential | $33.7M | 1% |
