Automatic Data Processing (ADP) FY2016 results: revenue $11.7 billion, up 6.7% on the year
Automatic Data Processing Inc. (ADP) reported revenue of $11.7 billion for fiscal 2016, the year ended 30 June 2016, up 6.7% on the year before. Net income was $1.5 billion, up 2.8%, and diluted earnings per share $3.25. The figures are the company's own, from the 10-K it filed with the SEC on 5 August 2016.
Revenue
$11.7 billion
+6.7% on the year
FY2009FY2016
Operating margin
18.3%
18.4% a year earlier
FY2009FY2016
Net income
$1.5 billion
+2.8% on the year
FY2009FY2016
Diluted EPS
$3.25
+6.6% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
11,668
10,938
10,226
+6.7%
Cost of revenue
6,840
6,428
6,041
+6.4%
Gross profit
4,828
4,511
4,185
+7.0%
Gross margin
41.4%
41.2%
40.9%
Selling, general and administrative
2,637
2,497
2,370
+5.6%
Operating income
2,134
2,008
1,809
+6.3%
Operating margin
18.3%
18.4%
17.7%
Interest expense
56.2
6.5
6.1
+764.6%
Pre-tax income
2,235
2,071
1,879
+7.9%
Income tax
741
694
637
+6.8%
Effective tax rate
33.2%
33.5%
33.9%
Net income
1,492
1,452
1,516
+2.8%
Net margin
12.8%
13.3%
14.8%
Diluted EPS
$3.25
$3.05
$3.14
+6.6%
$ 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
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
1,897
1,974
1,821
-3.9%
Capital expenditure
168
159
160
+6.1%
Free cash flow
1,729
1,815
1,662
-4.8%
Free cash flow margin
14.8%
16.6%
16.2%
Cash from investing
-869
-3,760
813
Cash from financing
8,753
1,548
-2,358
+465.3%
Depreciation and amortisation
289
278
267
+3.9%
Share-based compensation
138
143
117
-3.9%
Buybacks
1,156
1,557
667
-25.8%
Dividends paid
944
928
883
+1.7%
Dividend per share
$2.08
$1.95
$1.88
+6.7%
Diluted shares, weighted
459m
476m
483m
-3.5%
Shares outstanding at period end
456m
466m
480m
-2.3%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
4,482
4,808
6,670
-6.8%
Short-term borrowings
0.0
n/a
n/a
Debt
2,008
9.2
2,184
+21,722.8%
Other liabilities
37,181
28,293
23,197
+31.4%
Total liabilities and equity
43,670
33,110
32,052
+31.9%
Fixed assets
685
673
667
+1.8%
Goodwill
1,682
1,794
1,884
-6.2%
Intangible assets
534
503
491
+6.2%
Investments
31.3
55.5
2,086
-43.6%
Cash and equivalents
3,191
1,639
1,984
+94.7%
Receivables
1,743
1,547
1,499
+12.7%
Other assets
35,804
26,899
23,441
+33.1%
Total assets
43,670
33,110
32,052
+31.9%
10-K for the year ended 30 June 2016, filed 5 August 2016: the filing.