vs
Automatic Data Processing（ADP）与弗雷斯特研究公司（FORR）财务数据对比。点击上方公司名可切换其他公司
Automatic Data Processing的季度营收约是弗雷斯特研究公司的53.0倍（$5.4B vs $101.1M）。Automatic Data Processing净利率更高（19.8% vs -33.5%，领先53.3%）。Automatic Data Processing同比增速更快（6.2% vs -6.5%）。过去两年Automatic Data Processing的营收复合增速更高（1.0% vs 0.5%）
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。
福雷斯特研究公司是一家全球领先的研究咨询机构，主营业务涵盖行业研究、管理咨询与行业峰会举办，客户群体包括全球大型企业、科技公司与消费领域领军企业，公司总部位于美国马萨诸塞州剑桥市。
ADP vs FORR — 直观对比
营收规模更大
ADP
是对方的53.0倍
$101.1M
营收增速更快
ADP
高出12.6%
-6.5%
净利率更高
ADP
高出53.3%
-33.5%
两年增速更快
ADP
近两年复合增速
0.5%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $101.1M |
| 净利润 | $1.1B | $-33.9M |
| 毛利率 | 46.1% | 56.7% |
| 营业利润率 | 25.8% | -36.6% |
| 净利率 | 19.8% | -33.5% |
| 营收同比 | 6.2% | -6.5% |
| 净利润同比 | 10.3% | -7941.4% |
| 每股收益（稀释后） | $2.62 | $-1.75 |
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ADPFORR
| Q4 25 | $5.4B | $101.1M | ||
| Q3 25 | $5.2B | $94.3M | ||
| Q2 25 | $5.1B | $111.7M | ||
| Q1 25 | $5.6B | $89.9M | ||
| Q4 24 | $5.0B | $108.0M | ||
| Q3 24 | $4.8B | $102.5M | ||
| Q2 24 | $4.8B | $121.8M | ||
| Q1 24 | $5.3B | $100.1M |
净利润ADPFORR
| Q4 25 | $1.1B | $-33.9M | ||
| Q3 25 | $1.0B | $-2.1M | ||
| Q2 25 | $910.7M | $3.9M | ||
| Q1 25 | $1.2B | $-87.3M | ||
| Q4 24 | $963.2M | $432.0K | ||
| Q3 24 | $956.3M | $-5.8M | ||
| Q2 24 | $829.3M | $6.3M | ||
| Q1 24 | $1.2B | $-6.7M |
毛利率ADPFORR
| Q4 25 | 46.1% | 56.7% | ||
| Q3 25 | 45.2% | 60.0% | ||
| Q2 25 | 45.1% | 55.5% | ||
| Q1 25 | 47.7% | 55.9% | ||
| Q4 24 | 45.7% | 58.8% | ||
| Q3 24 | 45.5% | 60.5% | ||
| Q2 24 | 44.8% | 57.3% | ||
| Q1 24 | 47.3% | 54.9% |
营业利润率ADPFORR
| Q4 25 | 25.8% | -36.6% | ||
| Q3 25 | 25.3% | 4.7% | ||
| Q2 25 | 23.2% | 6.2% | ||
| Q1 25 | 29.2% | -97.5% | ||
| Q4 24 | 25.0% | -0.5% | ||
| Q3 24 | 25.6% | -0.7% | ||
| Q2 24 | 22.8% | 9.3% | ||
| Q1 24 | 29.4% | -9.3% |
净利率ADPFORR
| Q4 25 | 19.8% | -33.5% | ||
| Q3 25 | 19.6% | -2.3% | ||
| Q2 25 | 17.8% | 3.5% | ||
| Q1 25 | 22.5% | -97.1% | ||
| Q4 24 | 19.1% | 0.4% | ||
| Q3 24 | 19.8% | -5.7% | ||
| Q2 24 | 17.4% | 5.2% | ||
| Q1 24 | 22.6% | -6.7% |
每股收益（稀释后）ADPFORR
| Q4 25 | $2.62 | $-1.75 | ||
| Q3 25 | $2.49 | $-0.11 | ||
| Q2 25 | $2.23 | $0.20 | ||
| Q1 25 | $3.06 | $-4.62 | ||
| Q4 24 | $2.35 | $0.02 | ||
| Q3 24 | $2.34 | $-0.30 | ||
| Q2 24 | $2.01 | $0.33 | ||
| Q1 24 | $2.88 | $-0.35 |
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 | $63.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.4B | $126.5M |
| 总资产 | $84.6B | $404.0M |
| 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ADPFORR
| Q4 25 | $2.5B | $63.3M | ||
| Q3 25 | $7.9B | $65.1M | ||
| Q2 25 | $7.8B | $67.8M | ||
| Q1 25 | $2.7B | $75.6M | ||
| Q4 24 | $2.2B | $56.1M | ||
| Q3 24 | $7.3B | $62.8M | ||
| Q2 24 | $3.3B | $58.9M | ||
| Q1 24 | $3.3B | $61.4M |
股东权益ADPFORR
| Q4 25 | $6.4B | $126.5M | ||
| Q3 25 | $6.4B | $157.7M | ||
| Q2 25 | $6.2B | $159.5M | ||
| Q1 25 | $5.9B | $147.4M | ||
| Q4 24 | $5.1B | $229.5M | ||
| Q3 24 | $5.3B | $234.3M | ||
| Q2 24 | $4.5B | $237.1M | ||
| Q1 24 | $4.6B | $230.9M |
总资产ADPFORR
| Q4 25 | $84.6B | $404.0M | ||
| Q3 25 | $54.3B | $414.2M | ||
| Q2 25 | $53.4B | $436.0M | ||
| Q1 25 | $56.4B | $439.8M | ||
| Q4 24 | $64.1B | $503.9M | ||
| Q3 24 | $49.5B | $505.3M | ||
| Q2 24 | $54.4B | $524.2M | ||
| Q1 24 | $64.2B | $555.7M |
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 | $-3.2M |
| 自由现金流经营现金流 - 资本支出 | — | $-4.3M |
| 自由现金流率自由现金流/营收 | — | -4.2% |
| 资本支出强度资本支出/营收 | — | 1.1% |
| 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 | — | $18.1M |
8季度趋势，按日历期对齐
经营现金流ADPFORR
| Q4 25 | $1.1B | $-3.2M | ||
| Q3 25 | $642.3M | $1.2M | ||
| Q2 25 | $1.4B | $-3.6M | ||
| Q1 25 | $1.5B | $26.7M | ||
| Q4 24 | $1.2B | $-1.8M | ||
| Q3 24 | $824.4M | $264.0K | ||
| Q2 24 | $1.3B | $-2.9M | ||
| Q1 24 | $1.5B | $611.0K |
自由现金流ADPFORR
| Q4 25 | — | $-4.3M | ||
| Q3 25 | — | $524.0K | ||
| Q2 25 | — | $-4.2M | ||
| Q1 25 | — | $26.1M | ||
| Q4 24 | — | $-2.5M | ||
| Q3 24 | — | $-223.0K | ||
| Q2 24 | — | $-3.7M | ||
| Q1 24 | — | $-815.0K |
自由现金流率ADPFORR
| Q4 25 | — | -4.2% | ||
| Q3 25 | — | 0.6% | ||
| Q2 25 | — | -3.8% | ||
| Q1 25 | — | 29.0% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | — | -0.2% | ||
| Q2 24 | — | -3.1% | ||
| Q1 24 | — | -0.8% |
资本支出强度ADPFORR
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 1.4% |
现金转化率ADPFORR
| Q4 25 | 1.07× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 1.58× | -0.93× | ||
| Q1 25 | 1.22× | — | ||
| Q4 24 | 1.19× | -4.24× | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 1.57× | -0.46× | ||
| 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% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
