Automatic Data Processing (ADP) FY2015 results: revenue $10.9 billion, up 7.0% on the year
Automatic Data Processing Inc. (ADP) reported revenue of $10.9 billion for fiscal 2015, the year ended 30 June 2015, up 7.0% on the year before. Net income was $1.5 billion, down 4.2%, and diluted earnings per share $3.05. The figures are the company's own, from the 10-K it filed with the SEC on 7 August 2015.
Revenue
$10.9 billion
+7.0% on the year
FY2008FY2015
Operating margin
18.4%
17.7% a year earlier
FY2008FY2015
Net income
$1.5 billion
-4.2% on the year
FY2008FY2015
Diluted EPS
$3.05
-2.9% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
10,938
10,226
9,442
+7.0%
Cost of revenue
6,428
6,041
5,574
+6.4%
Gross profit
4,511
4,185
3,868
+7.8%
Gross margin
41.2%
40.9%
41.0%
Selling, general and administrative
2,497
2,370
2,200
+5.3%
Operating income
2,008
1,809
1,616
+11.0%
Operating margin
18.4%
17.7%
17.1%
Interest expense
6.5
6.1
9.1
+6.6%
Pre-tax income
2,071
1,879
1,710
+10.2%
Income tax
694
637
588
+9.0%
Effective tax rate
33.5%
33.9%
34.4%
Net income
1,452
1,516
1,406
-4.2%
Net margin
13.3%
14.8%
14.9%
Diluted EPS
$3.05
$3.14
$2.89
-2.9%
$ 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
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
1,974
1,821
1,577
+8.4%
Capital expenditure
159
160
130
-0.6%
Free cash flow
1,815
1,662
1,447
+9.2%
Free cash flow margin
16.6%
16.2%
15.3%
Cash from investing
-3,760
813
-1,578
Cash from financing
1,548
-2,358
151
Depreciation and amortisation
278
267
251
+4.2%
Share-based compensation
143
117
82.0
+22.3%
Buybacks
1,557
667
647
+133.4%
Dividends paid
928
883
806
+5.0%
Dividend per share
$1.95
$1.88
$1.70
+3.7%
Diluted shares, weighted
476m
483m
487m
-1.5%
Shares outstanding at period end
466m
480m
483m
-2.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
4,808
6,670
6,190
-27.9%
Debt
9.2
2,184
261
-99.6%
Other liabilities
28,293
23,197
25,818
+22.0%
Total liabilities and equity
33,110
32,052
32,268
+3.3%
Fixed assets
673
667
729
+0.8%
Goodwill
1,794
1,884
1,866
-4.8%
Intangible assets
503
491
643
+2.5%
Investments
55.5
2,086
342
-97.3%
Cash and equivalents
1,639
1,984
1,404
-17.4%
Receivables
1,547
1,499
1,598
+3.2%
Other assets
26,899
23,441
25,685
+14.8%
Total assets
33,110
32,052
32,268
+3.3%
10-K for the year ended 30 June 2015, filed 7 August 2015: the filing.