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Automatic Data Processing（ADP）与SPX Technologies, Inc.（SPXC）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SPX Technologies, Inc.的8.4倍（$5.4B vs $637.3M）。Automatic Data Processing净利率更高（19.8% vs 12.2%，领先7.6%）。SPX Technologies, Inc.同比增速更快（19.4% vs 6.2%）。过去两年SPX Technologies, Inc.的营收复合增速更高（17.0% 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。
SPX Technologies是美国头部制造企业，总部位于北卡罗来纳州夏洛特市，业务布局暖通空调、检测测量、输发电及工程解决方案四大核心领域，产品涵盖冷却塔、锅炉、地下管线定位仪、电力变压器、热交换器等，旗下拥有Waukesha、Dielectric、Genfare等多个知名品牌。
ADP vs SPXC — 直观对比
营收规模更大
ADP
是对方的8.4倍
$637.3M
营收增速更快
SPXC
高出13.3%
6.2%
净利率更高
ADP
高出7.6%
12.2%
两年增速更快
SPXC
近两年复合增速
1.0%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $637.3M |
| 净利润 | $1.1B | $77.9M |
| 毛利率 | 46.1% | 39.8% |
| 营业利润率 | 25.8% | 15.7% |
| 净利率 | 19.8% | 12.2% |
| 营收同比 | 6.2% | 19.4% |
| 净利润同比 | 10.3% | 36.4% |
| 每股收益（稀释后） | $2.62 | $1.56 |
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ADPSPXC
| Q4 25 | $5.4B | $637.3M | ||
| Q3 25 | $5.2B | $592.8M | ||
| Q2 25 | $5.1B | $552.4M | ||
| Q1 25 | $5.6B | $482.6M | ||
| Q4 24 | $5.0B | $533.7M | ||
| Q3 24 | $4.8B | $483.7M | ||
| Q2 24 | $4.8B | $501.3M | ||
| Q1 24 | $5.3B | $465.2M |
净利润ADPSPXC
| Q4 25 | $1.1B | $77.9M | ||
| Q3 25 | $1.0B | $62.7M | ||
| Q2 25 | $910.7M | $52.2M | ||
| Q1 25 | $1.2B | $51.2M | ||
| Q4 24 | $963.2M | $57.1M | ||
| Q3 24 | $956.3M | $50.2M | ||
| Q2 24 | $829.3M | $44.2M | ||
| Q1 24 | $1.2B | $49.0M |
毛利率ADPSPXC
| Q4 25 | 46.1% | 39.8% | ||
| Q3 25 | 45.2% | 40.4% | ||
| Q2 25 | 45.1% | 41.4% | ||
| Q1 25 | 47.7% | 40.6% | ||
| Q4 24 | 45.7% | 40.9% | ||
| Q3 24 | 45.5% | 40.9% | ||
| Q2 24 | 44.8% | 40.1% | ||
| Q1 24 | 47.3% | 39.3% |
营业利润率ADPSPXC
| Q4 25 | 25.8% | 15.7% | ||
| Q3 25 | 25.3% | 16.4% | ||
| Q2 25 | 23.2% | 15.7% | ||
| Q1 25 | 29.2% | 13.8% | ||
| Q4 24 | 25.0% | 16.9% | ||
| Q3 24 | 25.6% | 16.3% | ||
| Q2 24 | 22.8% | 14.9% | ||
| Q1 24 | 29.4% | 13.9% |
净利率ADPSPXC
| Q4 25 | 19.8% | 12.2% | ||
| Q3 25 | 19.6% | 10.6% | ||
| Q2 25 | 17.8% | 9.4% | ||
| Q1 25 | 22.5% | 10.6% | ||
| Q4 24 | 19.1% | 10.7% | ||
| Q3 24 | 19.8% | 10.4% | ||
| Q2 24 | 17.4% | 8.8% | ||
| Q1 24 | 22.6% | 10.5% |
每股收益（稀释后）ADPSPXC
| Q4 25 | $2.62 | $1.56 | ||
| Q3 25 | $2.49 | $1.28 | ||
| Q2 25 | $2.23 | $1.10 | ||
| Q1 25 | $3.06 | $1.09 | ||
| Q4 24 | $2.35 | $1.21 | ||
| Q3 24 | $2.34 | $1.06 | ||
| Q2 24 | $2.01 | $0.94 | ||
| Q1 24 | $2.88 | $1.05 |
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 | $364.0M |
| 总债务越低越好 | — | $496.7M |
| 股东权益账面价值 | $6.4B | $2.2B |
| 总资产 | $84.6B | $3.6B |
| 负债/权益比越低杠杆越低 | — | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资ADPSPXC
| Q4 25 | $2.5B | $364.0M | ||
| Q3 25 | $7.9B | $229.4M | ||
| Q2 25 | $7.8B | $132.8M | ||
| Q1 25 | $2.7B | $177.8M | ||
| Q4 24 | $2.2B | $156.9M | ||
| Q3 24 | $7.3B | $124.8M | ||
| Q2 24 | $3.3B | $128.1M | ||
| Q1 24 | $3.3B | $100.5M |
总债务ADPSPXC
| Q4 25 | — | $496.7M | ||
| Q3 25 | — | $499.8M | ||
| Q2 25 | — | $950.3M | ||
| Q1 25 | — | $872.0M | ||
| Q4 24 | — | $577.0M | ||
| Q3 24 | — | $665.2M | ||
| Q2 24 | — | $509.9M | ||
| Q1 24 | — | $516.6M |
股东权益ADPSPXC
| Q4 25 | $6.4B | $2.2B | ||
| Q3 25 | $6.4B | $2.1B | ||
| Q2 25 | $6.2B | $1.5B | ||
| Q1 25 | $5.9B | $1.4B | ||
| Q4 24 | $5.1B | $1.4B | ||
| Q3 24 | $5.3B | $1.4B | ||
| Q2 24 | $4.5B | $1.3B | ||
| Q1 24 | $4.6B | $1.2B |
总资产ADPSPXC
| Q4 25 | $84.6B | $3.6B | ||
| Q3 25 | $54.3B | $3.4B | ||
| Q2 25 | $53.4B | $3.3B | ||
| Q1 25 | $56.4B | $3.1B | ||
| Q4 24 | $64.1B | $2.7B | ||
| Q3 24 | $49.5B | $2.8B | ||
| Q2 24 | $54.4B | $2.8B | ||
| Q1 24 | $64.2B | $2.8B |
负债/权益比ADPSPXC
| Q4 25 | — | 0.22× | ||
| Q3 25 | — | 0.23× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.42× | ||
| Q3 24 | — | 0.49× | ||
| Q2 24 | — | 0.40× | ||
| Q1 24 | — | 0.42× |
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 | $195.2M |
| 自由现金流经营现金流 - 资本支出 | — | $126.7M |
| 自由现金流率自由现金流/营收 | — | 19.9% |
| 资本支出强度资本支出/营收 | — | 10.7% |
| 现金转化率经营现金流/净利润 | 1.07× | 2.51× |
| 过去12个月自由现金流最近4个季度 | — | $241.2M |
8季度趋势，按日历期对齐
经营现金流ADPSPXC
| Q4 25 | $1.1B | $195.2M | ||
| Q3 25 | $642.3M | $106.5M | ||
| Q2 25 | $1.4B | $42.5M | ||
| Q1 25 | $1.5B | $-10.9M | ||
| Q4 24 | $1.2B | $166.5M | ||
| Q3 24 | $824.4M | $51.4M | ||
| Q2 24 | $1.3B | $57.5M | ||
| Q1 24 | $1.5B | $10.5M |
自由现金流ADPSPXC
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | $96.1M | ||
| Q2 25 | — | $34.8M | ||
| Q1 25 | — | $-16.4M | ||
| Q4 24 | — | $156.7M | ||
| Q3 24 | — | $43.5M | ||
| Q2 24 | — | $47.1M | ||
| Q1 24 | — | $600.0K |
自由现金流率ADPSPXC
| Q4 25 | — | 19.9% | ||
| Q3 25 | — | 16.2% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | -3.4% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 9.0% | ||
| Q2 24 | — | 9.4% | ||
| Q1 24 | — | 0.1% |
资本支出强度ADPSPXC
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | — | 1.6% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | 2.1% |
现金转化率ADPSPXC
| Q4 25 | 1.07× | 2.51× | ||
| Q3 25 | 0.63× | 1.70× | ||
| Q2 25 | 1.58× | 0.81× | ||
| Q1 25 | 1.22× | -0.21× | ||
| Q4 24 | 1.19× | 2.92× | ||
| Q3 24 | 0.86× | 1.02× | ||
| Q2 24 | 1.57× | 1.30× | ||
| Q1 24 | 1.26× | 0.21× |
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% |
SPXC
| Package And Process Cooling Equipment And Services And Engineered Air Movement And Handling Solutions | $258.5M | 41% |
| Detectionand Measurement Reportable Segment | $206.2M | 32% |
| CA | $57.7M | 9% |
| Kranze Technology Solutions Inc | $37.9M | 6% |
| GB | $32.0M | 5% |
| Other Foreign Countries | $28.6M | 4% |
| Other | $16.4M | 3% |
