Automatic Data Processing (ADP) FY2012 results: revenue $10.6 billion, up 7.8% on the year
Automatic Data Processing Inc. (ADP) reported revenue of $10.6 billion for fiscal 2012, the year ended 30 June 2012, up 7.8% on the year before. Net income was $1.4 billion, up 10.7%, and diluted earnings per share $2.82. The figures are the company's own, from the 10-K it filed with the SEC on 20 August 2012.
Revenue
$10.6 billion
+7.8% on the year
FY2008FY2012
Operating margin
-40.3%
-39.7% a year earlier
FY2008FY2012
Net income
$1.4 billion
+10.7% on the year
FY2008FY2012
Diluted EPS
$2.82
+11.9% on the year
FY2008FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
10,595
9,833
8,928
+7.8%
Cost of revenue
6,204
5,708
5,030
+8.7%
Gross profit
4,392
4,125
3,898
+6.5%
Gross margin
41.4%
41.9%
43.7%
Selling, general and administrative
2,453
2,315
2,127
+6.0%
Operating income
-4,273
-3,907
-3,268
Operating margin
-40.3%
-39.7%
-36.6%
Interest expense
7.7
8.6
8.6
-10.5%
Pre-tax income
2,102
1,918
1,863
+9.6%
Income tax
726
673
656
+7.9%
Effective tax rate
34.6%
35.1%
35.2%
Net income
1,388
1,254
1,211
+10.7%
Net margin
13.1%
12.8%
13.6%
Diluted EPS
$2.82
$2.52
$2.40
+11.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,910
1,706
1,682
+12.0%
Capital expenditure
140
182
103
-23.0%
Free cash flow
1,770
1,524
1,579
+16.2%
Free cash flow margin
16.7%
15.5%
17.7%
Cash from investing
3,244
-7,341
-2,380
Cash from financing
-4,954
5,339
89.0
Depreciation and amortisation
319
315
309
+1.5%
Share-based compensation
94.1
90.3
67.6
+4.2%
Buybacks
741
733
766
+1.2%
Dividends paid
740
692
673
+6.8%
Dividend per share
$1.55
$1.42
$1.35
+9.2%
Diluted shares, weighted
492m
498m
504m
-1.2%
Shares outstanding at period end
484m
491m
492m
-1.3%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
6,114
6,010
5,479
+1.7%
Debt
16.8
37.0
42.6
-54.6%
Other liabilities
24,685
28,065
21,341
-12.0%
Total liabilities and equity
30,816
34,112
26,862
-9.7%
Fixed assets
706
716
674
-1.4%
Goodwill
3,049
2,980
2,383
+2.3%
Intangible assets
688
716
542
-3.8%
Investments
117
134
132
-12.7%
Cash and equivalents
1,548
1,389
1,643
+11.4%
Receivables
1,392
1,365
1,128
+2.0%
Other assets
23,315
26,812
20,360
-13.0%
Total assets
30,816
34,112
26,862
-9.7%
10-K for the year ended 30 June 2012, filed 20 August 2012: the filing.