vs
Automatic Data Processing（ADP）与光辉国际（KFY）财务数据对比。点击上方公司名可切换其他公司
Automatic Data Processing的季度营收约是光辉国际的7.3倍（$5.4B vs $729.8M）。Automatic Data Processing净利率更高（19.8% vs 9.9%，领先9.9%）。光辉国际同比增速更快（7.0% vs 6.2%）。过去两年光辉国际的营收复合增速更高（3.8% 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。
光辉国际是一家总部位于美国加利福尼亚州洛杉矶的管理咨询企业，成立于1969年。截至2019年，公司在全球53个国家设有111个办事处，员工总数达8198名，旗下设有咨询、数字化、高管寻访、招聘流程外包及专业人才寻访四大业务板块，为全球客户提供全方位的人力资源及管理解决方案。
ADP vs KFY — 直观对比
营收规模更大
ADP
是对方的7.3倍
$729.8M
营收增速更快
KFY
高出0.9%
6.2%
净利率更高
ADP
高出9.9%
9.9%
两年增速更快
KFY
近两年复合增速
1.0%
损益表 — Q2 2026 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $729.8M |
| 净利润 | $1.1B | $72.4M |
| 毛利率 | 46.1% | — |
| 营业利润率 | 25.8% | 13.5% |
| 净利率 | 19.8% | 9.9% |
| 营收同比 | 6.2% | 7.0% |
| 净利润同比 | 10.3% | 19.1% |
| 每股收益（稀释后） | $2.62 | $1.36 |
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ADPKFY
| Q4 25 | $5.4B | $729.8M | ||
| Q3 25 | $5.2B | $715.5M | ||
| Q2 25 | $5.1B | $719.8M | ||
| Q1 25 | $5.6B | $676.5M | ||
| Q4 24 | $5.0B | $682.0M | ||
| Q3 24 | $4.8B | $682.8M | ||
| Q2 24 | $4.8B | $699.9M | ||
| Q1 24 | $5.3B | $676.9M |
净利润ADPKFY
| Q4 25 | $1.1B | $72.4M | ||
| Q3 25 | $1.0B | $66.6M | ||
| Q2 25 | $910.7M | $64.2M | ||
| Q1 25 | $1.2B | $58.4M | ||
| Q4 24 | $963.2M | $60.8M | ||
| Q3 24 | $956.3M | $62.6M | ||
| Q2 24 | $829.3M | $65.2M | ||
| Q1 24 | $1.2B | $59.1M |
毛利率ADPKFY
| 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ADPKFY
| Q4 25 | 25.8% | 13.5% | ||
| Q3 25 | 25.3% | 11.7% | ||
| Q2 25 | 23.2% | 14.5% | ||
| Q1 25 | 29.2% | 11.6% | ||
| Q4 24 | 25.0% | 12.8% | ||
| Q3 24 | 25.6% | 11.1% | ||
| Q2 24 | 22.8% | 11.9% | ||
| Q1 24 | 29.4% | 7.4% |
净利率ADPKFY
| Q4 25 | 19.8% | 9.9% | ||
| Q3 25 | 19.6% | 9.3% | ||
| Q2 25 | 17.8% | 8.9% | ||
| Q1 25 | 22.5% | 8.6% | ||
| Q4 24 | 19.1% | 8.9% | ||
| Q3 24 | 19.8% | 9.2% | ||
| Q2 24 | 17.4% | 9.3% | ||
| Q1 24 | 22.6% | 8.7% |
每股收益（稀释后）ADPKFY
| Q4 25 | $2.62 | $1.36 | ||
| Q3 25 | $2.49 | $1.26 | ||
| Q2 25 | $2.23 | $1.19 | ||
| Q1 25 | $3.06 | $1.10 | ||
| Q4 24 | $2.35 | $1.14 | ||
| Q3 24 | $2.34 | $1.17 | ||
| Q2 24 | $2.01 | $1.25 | ||
| Q1 24 | $2.88 | $1.13 |
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 | $801.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $6.4B | $1.9B |
| 总资产 | $84.6B | $3.7B |
| 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ADPKFY
| Q4 25 | $2.5B | $801.1M | ||
| Q3 25 | $7.9B | $721.1M | ||
| Q2 25 | $7.8B | $1.0B | ||
| Q1 25 | $2.7B | $820.0M | ||
| Q4 24 | $2.2B | $735.5M | ||
| Q3 24 | $7.3B | $674.0M | ||
| Q2 24 | $3.3B | $983.7M | ||
| Q1 24 | $3.3B | $782.5M |
股东权益ADPKFY
| Q4 25 | $6.4B | $1.9B | ||
| Q3 25 | $6.4B | $1.9B | ||
| Q2 25 | $6.2B | $1.9B | ||
| Q1 25 | $5.9B | $1.8B | ||
| Q4 24 | $5.1B | $1.8B | ||
| Q3 24 | $5.3B | $1.8B | ||
| Q2 24 | $4.5B | $1.7B | ||
| Q1 24 | $4.6B | $1.7B |
总资产ADPKFY
| Q4 25 | $84.6B | $3.7B | ||
| Q3 25 | $54.3B | $3.6B | ||
| Q2 25 | $53.4B | $3.9B | ||
| Q1 25 | $56.4B | $3.6B | ||
| Q4 24 | $64.1B | $3.5B | ||
| Q3 24 | $49.5B | $3.4B | ||
| Q2 24 | $54.4B | $3.7B | ||
| Q1 24 | $64.2B | $3.6B |
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 | $121.4M |
| 自由现金流经营现金流 - 资本支出 | — | $100.7M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 2.8% |
| 现金转化率经营现金流/净利润 | 1.07× | 1.68× |
| 过去12个月自由现金流最近4个季度 | — | $272.6M |
8季度趋势，按日历期对齐
经营现金流ADPKFY
| Q4 25 | $1.1B | $121.4M | ||
| Q3 25 | $642.3M | $-237.4M | ||
| Q2 25 | $1.4B | $255.8M | ||
| Q1 25 | $1.5B | $213.7M | ||
| Q4 24 | $1.2B | $122.0M | ||
| Q3 24 | $824.4M | $-227.2M | ||
| Q2 24 | $1.3B | $261.9M | ||
| Q1 24 | $1.5B | $164.0M |
自由现金流ADPKFY
| Q4 25 | — | $100.7M | ||
| Q3 25 | — | $-260.0M | ||
| Q2 25 | — | $235.5M | ||
| Q1 25 | — | $196.4M | ||
| Q4 24 | — | $107.7M | ||
| Q3 24 | — | $-237.7M | ||
| Q2 24 | — | $250.0M | ||
| Q1 24 | — | $152.3M |
自由现金流率ADPKFY
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | -36.3% | ||
| Q2 25 | — | 32.7% | ||
| Q1 25 | — | 29.0% | ||
| Q4 24 | — | 15.8% | ||
| Q3 24 | — | -34.8% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 22.5% |
资本支出强度ADPKFY
| Q4 25 | — | 2.8% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 1.7% |
现金转化率ADPKFY
| Q4 25 | 1.07× | 1.68× | ||
| Q3 25 | 0.63× | -3.56× | ||
| Q2 25 | 1.58× | 3.98× | ||
| Q1 25 | 1.22× | 3.66× | ||
| Q4 24 | 1.19× | 2.01× | ||
| Q3 24 | 0.86× | -3.63× | ||
| Q2 24 | 1.57× | 4.02× | ||
| Q1 24 | 1.26× | 2.78× |
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% |
KFY
| Industrial | $234.0M | 32% |
| Technology Service | $104.5M | 14% |
| RPO | $92.3M | 13% |
| Digital | $91.2M | 13% |
| Consumer Goods | $85.0M | 12% |
| Executive Search EMEA | $52.2M | 7% |
| Education Non Profit And General | $43.2M | 6% |
| Executive Search Asia Pacific | $24.3M | 3% |
| Reimbursed Out Of Pocket Engagement Expenses | $8.1M | 1% |
