vs
Automatic Data Processing（ADP）与TUTOR PERINI CORP（TPC）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TUTOR PERINI CORP的3.6倍（$5.4B vs $1.5B）。Automatic Data Processing净利率更高（19.8% vs 1.9%，领先17.9%）。TUTOR PERINI CORP同比增速更快（41.2% vs 6.2%）。过去两年TUTOR PERINI CORP的营收复合增速更高（19.9% 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。
Tutor Perini集团是美国顶尖的大型总承包商之一，2008年由Perini公司与Tutor-Saliba公司合并成立，总部位于加利福尼亚州西尔马。公司业务覆盖北美全境，2024年营收约43.3亿美元，核心业务涵盖桥梁、公路、隧道、机场、公共交通系统等民用基建项目，同时也涉足建筑工程领域。
ADP vs TPC — 直观对比
营收规模更大
ADP
是对方的3.6倍
$1.5B
营收增速更快
TPC
高出35.0%
6.2%
净利率更高
ADP
高出17.9%
1.9%
两年增速更快
TPC
近两年复合增速
1.0%
损益表 — Q2 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4B | $1.5B |
| 净利润 | $1.1B | $28.8M |
| 毛利率 | 46.1% | 9.8% |
| 营业利润率 | 25.8% | 3.3% |
| 净利率 | 19.8% | 1.9% |
| 营收同比 | 6.2% | 41.2% |
| 净利润同比 | 10.3% | 136.3% |
| 每股收益（稀释后） | $2.62 | $0.53 |
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ADPTPC
| Q4 25 | $5.4B | $1.5B | ||
| Q3 25 | $5.2B | $1.4B | ||
| Q2 25 | $5.1B | $1.4B | ||
| Q1 25 | $5.6B | $1.2B | ||
| Q4 24 | $5.0B | $1.1B | ||
| Q3 24 | $4.8B | $1.1B | ||
| Q2 24 | $4.8B | $1.1B | ||
| Q1 24 | $5.3B | $1.0B |
净利润ADPTPC
| Q4 25 | $1.1B | $28.8M | ||
| Q3 25 | $1.0B | $3.6M | ||
| Q2 25 | $910.7M | $20.0M | ||
| Q1 25 | $1.2B | $28.0M | ||
| Q4 24 | $963.2M | $-79.4M | ||
| Q3 24 | $956.3M | $-100.9M | ||
| Q2 24 | $829.3M | $812.0K | ||
| Q1 24 | $1.2B | $15.8M |
毛利率ADPTPC
| Q4 25 | 46.1% | 9.8% | ||
| Q3 25 | 45.2% | 12.0% | ||
| Q2 25 | 45.1% | 14.3% | ||
| Q1 25 | 47.7% | 10.8% | ||
| Q4 24 | 45.7% | -0.9% | ||
| Q3 24 | 45.5% | -2.4% | ||
| Q2 24 | 44.8% | 10.4% | ||
| Q1 24 | 47.3% | 11.0% |
营业利润率ADPTPC
| Q4 25 | 25.8% | 3.3% | ||
| Q3 25 | 25.3% | 2.8% | ||
| Q2 25 | 23.2% | 5.6% | ||
| Q1 25 | 29.2% | 5.2% | ||
| Q4 24 | 25.0% | -8.1% | ||
| Q3 24 | 25.6% | -9.9% | ||
| Q2 24 | 22.8% | 3.6% | ||
| Q1 24 | 29.4% | 4.7% |
净利率ADPTPC
| Q4 25 | 19.8% | 1.9% | ||
| Q3 25 | 19.6% | 0.3% | ||
| Q2 25 | 17.8% | 1.5% | ||
| Q1 25 | 22.5% | 2.2% | ||
| Q4 24 | 19.1% | -7.4% | ||
| Q3 24 | 19.8% | -9.3% | ||
| Q2 24 | 17.4% | 0.1% | ||
| Q1 24 | 22.6% | 1.5% |
每股收益（稀释后）ADPTPC
| Q4 25 | $2.62 | $0.53 | ||
| Q3 25 | $2.49 | $0.07 | ||
| Q2 25 | $2.23 | $0.38 | ||
| Q1 25 | $3.06 | $0.53 | ||
| Q4 24 | $2.35 | $-1.53 | ||
| Q3 24 | $2.34 | $-1.92 | ||
| Q2 24 | $2.01 | $0.02 | ||
| Q1 24 | $2.88 | $0.30 |
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 | $734.6M |
| 总债务越低越好 | — | $407.4M |
| 股东权益账面价值 | $6.4B | $1.2B |
| 总资产 | $84.6B | $5.2B |
| 负债/权益比越低杠杆越低 | — | 0.33× |
8季度趋势，按日历期对齐
现金及短期投资ADPTPC
| Q4 25 | $2.5B | $734.6M | ||
| Q3 25 | $7.9B | $695.7M | ||
| Q2 25 | $7.8B | $526.1M | ||
| Q1 25 | $2.7B | $276.5M | ||
| Q4 24 | $2.2B | $455.1M | ||
| Q3 24 | $7.3B | $287.4M | ||
| Q2 24 | $3.3B | $267.1M | ||
| Q1 24 | $3.3B | $358.3M |
总债务ADPTPC
| Q4 25 | — | $407.4M | ||
| Q3 25 | — | $413.1M | ||
| Q2 25 | — | $419.4M | ||
| Q1 25 | — | $405.6M | ||
| Q4 24 | — | $534.1M | ||
| Q3 24 | — | $681.4M | ||
| Q2 24 | — | $676.4M | ||
| Q1 24 | — | $801.2M |
股东权益ADPTPC
| Q4 25 | $6.4B | $1.2B | ||
| Q3 25 | $6.4B | $1.2B | ||
| Q2 25 | $6.2B | $1.2B | ||
| Q1 25 | $5.9B | $1.2B | ||
| Q4 24 | $5.1B | $1.1B | ||
| Q3 24 | $5.3B | $1.2B | ||
| Q2 24 | $4.5B | $1.3B | ||
| Q1 24 | $4.6B | $1.3B |
总资产ADPTPC
| Q4 25 | $84.6B | $5.2B | ||
| Q3 25 | $54.3B | $5.2B | ||
| Q2 25 | $53.4B | $4.9B | ||
| Q1 25 | $56.4B | $4.5B | ||
| Q4 24 | $64.1B | $4.2B | ||
| Q3 24 | $49.5B | $4.4B | ||
| Q2 24 | $54.4B | $4.3B | ||
| Q1 24 | $64.2B | $4.4B |
负债/权益比ADPTPC
| Q4 25 | — | 0.33× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | 0.35× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 0.47× | ||
| Q3 24 | — | 0.56× | ||
| Q2 24 | — | 0.52× | ||
| Q1 24 | — | 0.61× |
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 | $173.7M |
| 自由现金流经营现金流 - 资本支出 | — | $98.7M |
| 自由现金流率自由现金流/营收 | — | 6.5% |
| 资本支出强度资本支出/营收 | — | 5.0% |
| 现金转化率经营现金流/净利润 | 1.07× | 6.02× |
| 过去12个月自由现金流最近4个季度 | — | $567.2M |
8季度趋势，按日历期对齐
经营现金流ADPTPC
| Q4 25 | $1.1B | $173.7M | ||
| Q3 25 | $642.3M | $289.1M | ||
| Q2 25 | $1.4B | $262.4M | ||
| Q1 25 | $1.5B | $22.9M | ||
| Q4 24 | $1.2B | $329.6M | ||
| Q3 24 | $824.4M | $22.6M | ||
| Q2 24 | $1.3B | $53.1M | ||
| Q1 24 | $1.5B | $98.3M |
自由现金流ADPTPC
| Q4 25 | — | $98.7M | ||
| Q3 25 | — | $240.2M | ||
| Q2 25 | — | $235.6M | ||
| Q1 25 | — | $-7.2M | ||
| Q4 24 | — | $320.4M | ||
| Q3 24 | — | $15.6M | ||
| Q2 24 | — | $42.2M | ||
| Q1 24 | — | $87.8M |
自由现金流率ADPTPC
| Q4 25 | — | 6.5% | ||
| Q3 25 | — | 17.0% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | — | -0.6% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 1.4% | ||
| Q2 24 | — | 3.7% | ||
| Q1 24 | — | 8.4% |
资本支出强度ADPTPC
| Q4 25 | — | 5.0% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 2.0% | ||
| Q1 25 | — | 2.4% | ||
| Q4 24 | — | 0.9% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.0% |
现金转化率ADPTPC
| Q4 25 | 1.07× | 6.02× | ||
| Q3 25 | 0.63× | 79.63× | ||
| Q2 25 | 1.58× | 13.14× | ||
| Q1 25 | 1.22× | 0.82× | ||
| Q4 24 | 1.19× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 1.57× | 65.44× | ||
| Q1 24 | 1.26× | 6.24× |
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% |
TPC
| State And Local Agencies | $591.1M | 39% |
| Mass Transit | $449.9M | 30% |
| Federal Agencies | $115.0M | 8% |
| Bridges | $100.5M | 7% |
| Military Facilities | $93.1M | 6% |
| Commercial And Industrial Facilities | $46.7M | 3% |
| Detention Facilities | $43.8M | 3% |
| Power And Energy | $35.8M | 2% |
| Multi Unit Residential | $25.9M | 2% |
| Education Facilities | $12.0M | 1% |
| Water | $3.6M | 0% |
