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How ADP makes money: FQ4 2026 revenue breakdown
US GAAP · $M · quarter ended 06/30/2026 vs FQ4 2025 · reported 07/29/2026
ADP (company) — Automatic Data Processing, Inc. (ADP) is an American multinational provider of cloud-based human resources management, payroll processing, and professional employer organization (PEO) services, headquartered in Roseland, New Jersey. · Wikipedia
Key growth driver: HCM Revenues (ex-float) — the fastest-growing revenue line: $3,342, +6% y/y. · by the FQ4 2026 report
How does ADP make money?
ADP brought in $5.47 billion of revenue in FQ4 2026, up 7% year over year. The largest source was HCM Revenues (ex-float): $3.34 billion, or 61% of the total, followed by PEO Revenues ($1.78B, 32%) and Interest on Client Funds ($355M, 6%). Net income for the quarter was $979 million, up 7% year over year.
Revenue by source, FQ4 2026
- HCM Revenues (ex-float)$3.34B · 61% · +6%
- PEO Revenues$1.78B · 32% · +7%
- Interest on Client Funds$355M · 6% · +15%
Shares of $5.47B total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
When is ADP’s next earnings date?
Wednesday, October 28, 2026confirmed · before market open
ADP is scheduled to report results for the quarter ending Sep 2026 on Oct 28, 2026. Consensus EPS forecast: $2.78 (4 analysts), vs $2.49 in the same quarter last year.
What time does ADP report? Usually before market open: the last 4 results releases reached the SEC at 6:57 am, 6:55 am, 6:55 am, 6:55 am ET.
Last report: Jul 29, 2026 (FQ4 2026) — broken down in the Sankey chart below. Dates and consensus: Nasdaq / Zacks Investment Research; companies do reschedule. Who else reports this week →
All figures in $M.
Revenue
$5,474
+7%
+6% organic constant currency
Net income
$979
+7%
Diluted EPS $2.45 · +10%
Verdict: a steady-compounder quarter closing the year at the high end of guidance — revenue up 7% and EPS up 10%, powered by rising interest on the $41B client-fund float and Employer Services margin gains, with PEO margin compression the only soft spot.
FY2026: revenue $21.9B (+7%) · adjusted EBIT margin 26.8% (+80 bp) · diluted EPS $10.94 (+10%) · ES new bookings $2.2B (+6%) · ES retention 92.1% · avg client funds $40.4B at 3.4% yield.
Source and notation
* marks non-cash / ≈ estimated. Source: ADP press release, 8-K EX-99 (SEC EDGAR).
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
ADP earnings history: past report dates
| Jul 29, 2026 Wed | 6:57 ambefore market open | Jun 30, 2026 | ≈$5.5B+7% y/y | ≈$2.45+10% y/y |
| Apr 29, 2026 Wed | 6:55 ambefore market open | Mar 31, 2026 | $5.9B+7% y/y | $3.38+10% y/y |
| Jan 28, 2026 Wed | 6:55 ambefore market open | Dec 31, 2025 | $5.4B+6% y/y | $2.62+11% y/y |
| Oct 29, 2025 Wed | 6:55 ambefore market open | Sep 30, 2025 | $5.2B+7% y/y | $2.49+6% y/y |
| Jul 30, 2025 Wed | 6:55 ambefore market open | Jun 30, 2025 | ≈$5.1B+8% y/y | ≈$2.23+11% y/y |
| Apr 30, 2025 Wed | 6:57 ambefore market open | Mar 31, 2025 | $5.6B+6% y/y | $3.06+6% y/y |
| Jan 29, 2025 Wed | 6:55 ambefore market open | Dec 31, 2024 | $5.0B+8% y/y | $2.35+10% y/y |
| Oct 30, 2024 Wed | 6:55 ambefore market open | Sep 30, 2024 | $4.8B+7% y/y | $2.34+12% y/y |
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
ADP: 5-year financials
| FY2026 | 21,947 | 4,414 | 2,626 |
| FY2025 | 20,561 | 4,080 | 2,399 |
| FY2024 | 19,203 | 3,752 | 2,183 |
| FY2023 | 18,012 | 3,412 | 1,904 |
| FY2022 | 16,498 | 2,949 | 1,659 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP); the company’s fiscal year doesn’t match the calendar year so years follow the company’s own labels.
How we calculate
Figures are the annual report lines as filed, no adjustments. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing.
Corporate governance
2/2good
How the company treats minority shareholders: 2 — well, 0 — systematically poorly.
More
- Aug 2026Per the FY2026 10-K, ADP has a single class of voting common stock; no material litigation. sec.gov ↗
- Jun 2026Diluted shares −5.8% over FY2021–2026; SBC of $0.24B = 1.1% of $21.9B revenue. data.sec.gov ↗
- Jun 2026Per-share dividend: $3.70 (FY2021) → $6.64 (FY2026), raised every year. data.sec.gov ↗
Scoring: 2.0, no deductions: single share class, shares −5.8% over 5 years, SBC 1.1% of revenue, dividend raised every year, no shareholder suits or SEC cases
- Share classes
- Single class: Common Stock (voting) — FY2026 10-K cover.
- Dilution
- Diluted shares −5.8% over FY2021–2026, SBC 1.1% of revenue.
- Disclosure
- Full US GAAP reporting: 10-K and 10-Q filed on EDGAR on time.
- Dividends
- Dividend raised every year ($3.70 → $6.64 over FY2021–2026); buybacks of $1.1–2.1B a year.
- Lawsuits & regulators
- The FY2026 10-K lists only routine suits (an ERISA suit over the TotalSource retirement plan); no shareholder suits or SEC cases.
- Related parties
- Related-party transaction approval policy in place; no material transactions disclosed in the 2026 proxy.
How the score works · checked as of Sep 2026
ADP earnings: FAQ
How does ADP make money?
ADP brought in $5.47 billion of revenue in FQ4 2026, up 7% year over year. The largest source was HCM Revenues (ex-float): $3.34 billion, or 61% of the total, followed by PEO Revenues ($1.78B, 32%) and Interest on Client Funds ($355M, 6%). Net income for the quarter was $979 million, up 7% year over year.
When is ADP's next earnings date?
ADP (ADP) is scheduled to report on Oct 28, 2026, before market open.
What time does ADP report earnings?
ADP is scheduled to report before market open on Oct 28, 2026. Its last results releases were filed before market open, most recently at 6:57 am ET on Jul 29, 2026.
When did ADP last report earnings?
ADP reported FQ4 2026 results on Jul 29, 2026.
What is the EPS estimate for ADP's next earnings?
The consensus EPS forecast is $2.78 (4 analysts), vs $2.49 in the same quarter last year.
Where can I find ADP's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to ADP's filings; this page breaks the latest report down in a Sankey chart.
What was ADP's net income in FQ4 2026?
ADP reported net income of $979M for FQ4 2026 (+7% year over year), under US GAAP.
Does ADP pay dividends?
Yes. In fiscal 2026, ADP paid $2,626M in dividends on its common stock, per its 10-K. Earlier years are in the five-year table above.
New to earnings reports? Start with how to read an earnings report.
How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report. Figures checked against the filing on 08/26/2026. How we make the breakdowns · Report an error
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