Automatic Data Processing (ADP) FY2023 results: revenue $18.0 billion, up 9.2% on the year
Automatic Data Processing Inc. (ADP) reported revenue of $18.0 billion for fiscal 2023, the year ended 30 June 2023, up 9.2% on the year before. Net income was $3.4 billion, up 15.7%, and diluted earnings per share $8.21. The figures are the company's own, from the 10-K it filed with the SEC on 3 August 2023.
Revenue
$18.0 billion
+9.2% on the year
FY2016FY2023
Operating margin
23.6%
22.6% a year earlier
FY2016FY2023
Net income
$3.4 billion
+15.7% on the year
FY2016FY2023
Diluted EPS
$8.21
+17.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
4,208
3,100
3,093
+35.8%
Capital expenditure
206
174
179
+18.3%
Free cash flow
4,001
2,925
2,915
+36.8%
Free cash flow margin
22.2%
17.7%
19.4%
Cash from investing
-2,517
-7,014
-3,515
Cash from financing
-15,681
13,653
6,438
Depreciation and amortisation
549
515
511
+6.6%
Share-based compensation
220
202
175
+9.3%
Buybacks
1,121
1,969
1,372
-43.1%
Dividends paid
1,904
1,659
1,576
+14.7%
Dividend per share
$4.79
$4.05
$3.70
+18.3%
Diluted shares, weighted
416m
421m
428m
-1.3%
Shares outstanding at period end
412m
416m
424m
-1.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,509
3,225
5,670
+8.8%
Debt
3,094
3,124
3,008
-0.9%
Operating lease liabilities
350
371
343
-5.7%
Other liabilities
44,018
56,348
39,751
-21.9%
Total liabilities and equity
50,971
63,068
48,772
-19.2%
Fixed assets
681
653
684
+4.4%
Goodwill
2,339
2,300
2,338
+1.7%
Intangible assets
1,344
1,333
1,210
+0.8%
Investments
119
169
33.9
-29.5%
Cash and equivalents
2,084
1,436
2,575
+45.1%
Receivables
3,010
3,171
2,727
-5.1%
Other assets
41,394
54,006
39,203
-23.4%
Total assets
50,971
63,068
48,772
-19.2%
10-K for the year ended 30 June 2023, filed 3 August 2023: the filing.