Automatic Data Processing, Inc. Financial Ratios — ADP Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	06/30/2011	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025

Return on Common Equity (%)	10.82	11.4	10.99	11.32	10.67	10.82	12.39	12	13.42	13.68	13.67	14.64	15.89	16.36	16.66
Return on Assets (%)	4.11	4.27	4.46	4.71	4.46	3.89	4.42	4.96	5.68	6.09	5.91	5.27	5.98	7.12	7.57
Return on Capital (%)	10.83	11.41	10.92	10.4	9.91	10.34	11.21	11.13	12.44	12.54	12.1	12.79	14.46	15.2	14.35
Return on Invested Capital (%)	20.31	20.87	17.4	15.71	19.62	25.93	25.81	33.23	32.05	30.99	30.15	37.55	50.79	50.26	35.49
Gross Margin (%)	41.95	41.45	40.96	40.93	41.24	41.37	41.44	41.56	43.15	42.12	42.42	42.65	44.74	45.44	46.03
EBITDA Margin (%)	21.61	21.31	20.32	20.36	20.95	21.25	21.58	22.11	24.33	24.82	25.56	26.17	28.07	28.69	29.15
Operating Margin (%)	18.41	18.3	17.66	17.75	18.41	18.77	19.02	19.27	21.43	21.53	22.16	23.05	25.02	25.76	26.32
Incremental Operating Margin (%)	4.35	16.87	23.5	18.82	27.93	24.2	23.18	22.58	55.86	24.46	44.01	32.06	46.52	36.93	34.23
Pretax Margin (%)	19.51	19.84	18.11	18.38	18.93	19.15	21.15	17.2	21.3	21.81	22.4	23.06	24.64	25.37	25.83
Profit Margin (%)	12.76	13.1	14.89	14.82	13.28	12.79	14.45	14.2	16.25	16.91	17.32	17.87	18.94	19.54	19.84
Net Income to Common Margin (%)	12.76	13.1	14.89	14.82	13.28	12.79	14.45	14.2	16.25	16.91	17.32	17.87	18.94	19.54	19.84
Effective Tax Rate (%)	35.09	34.57	34.38	33.88	33.52	33.17	31.68	17.42	23.72	22.5	22.69	22.48	23.11	22.99	23.17
Dvd Payout Ratio (%)	55.61	53.79	71.78	71.07	67.39	63.18	55.67	56.43	56.39	59.62	60.63	56.26	55.79	58.18	58.8
Sustainable Growth Rate (%)	4.8	5.27	3.1	3.28	3.48	3.98	5.49	5.23	5.85	5.52	5.38	6.41	7.03	6.84	6.86

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	06/30/2011	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025

Total Debt	34	17	261	2,184	9	2,008	2,002	2,002	2,264	2,349	3,352	3,494	3,444	3,705	9,065
ST Debt	- -	- -	246	2,173	- -	- -	- -	- -	262	1,002	24	136	105	385	4,770
LT Debt	34	17	15	12	9	2,008	2,002	2,002	2,002	1,347	3,328	3,358	3,339	3,320	4,296
Total Debt/EBITDA	0.02	0.01	0.14	1.05	- -	0.81	0.75	0.68	0.66	0.65	0.87	0.81	0.68	0.67	1.51
Net Debt/EBITDA	-0.64	-0.68	-0.75	0.29	-0.71	-0.48	-0.29	-0.06	0.09	0.03	0.11	0.39	0.2	0.08	0.9
Total Debt/EBIT	0.02	0.01	0.16	1.2	- -	0.92	0.85	0.78	0.75	0.75	1.01	0.92	0.76	0.75	1.68
Net Debt/EBIT	-0.75	-0.79	-0.86	0.33	-0.81	-0.54	-0.33	-0.07	0.1	0.03	0.13	0.44	0.22	0.09	1
EBITDA to Interest Expense	247.05	293.23	210.85	341.26	352.6	44.11	33.37	28.58	26.43	33.82	64.24	52.73	19.96	15.24	13.15
EBITDA-CapEx/Interest Expense	235.91	279.01	199.32	317.72	325.42	40.24	30.49	26	23.32	29.67	58.76	48.1	18.52	14.26	12.32
EBIT to Interest Expense	210.47	251.77	183.24	297.56	309.85	38.98	29.42	24.9	23.28	29.33	55.69	46.44	17.79	13.69	11.87
Interest Expense	9	8	9	6	6	56	80	103	130	107	60	82	253	361	456
Common Equity/Total Assets	34.66	40.57	40.55	42.72	40.85	32.21	39.79	42.76	41.93	47.24	40.01	32.92	43.52	43.57	47.41
Long-Term Debt/Equity (%)	0.57	0.27	0.24	0.17	0.19	44.8	50.35	42.28	37.08	23.42	58.7	104.11	95.15	73	69.42
Long-Term Debt/Capital (%)	0.29	0.13	0.11	0.07	0.07	12.49	11.92	10.76	10.1	6.46	14.55	13.84	13.03	12.12	12.5
Long-Term Debt/Total Assets (%)	0.1	0.05	0.05	0.04	0.03	4.6	5.39	5.15	4.78	3.44	6.82	5.32	6.55	6.11	8.05
Total Debt/Equity (%)	0.57	0.27	4.21	32.75	0.19	44.8	50.35	42.28	41.93	40.84	59.11	108.34	98.15	81.48	146.5
Total Debt/Capital (%)	0.29	0.13	1.95	13.76	0.07	12.49	11.92	10.76	11.42	11.27	14.66	14.41	13.44	13.53	26.38
Total Debt/Total Assets (%)	0.1	0.05	0.81	6.81	0.03	4.6	5.39	5.15	5.41	6	6.87	5.54	6.76	6.82	16.99
Net Debt to Equity	-22.55	-25.05	-23.24	9	-33.9	-26.41	-19.56	-3.54	5.83	1.67	7.64	52.31	28.81	10.19	87.21
Net Debt/Capital (%)	-12.89	-13.96	-12.35	4.2	-13.71	-9.19	-5.55	-1.02	1.76	0.51	2.14	7.39	4.29	1.89	17.4
EBITDA	2,125	2,258	1,919	2,082	2,292	2,479	2,670	2,935	3,433	3,622	3,835	4,318	5,057	5,509	5,994
EBITDA-CapEx	2,029	2,148	1,814	1,938	2,115	2,262	2,439	2,670	3,029	3,178	3,508	3,939	4,691	5,154	5,616
Operating Income (Loss)	1,810	1,939	1,668	1,815	2,014	2,190	2,354	2,557	3,024	3,142	3,325	3,803	4,507	4,947	5,412

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	06/30/2011	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025

Cash Ratio	0.05	0.07	0.07	0.15	0.06	0.09	0.09	0.07	0.06	0.06	0.07	0.03	0.05	0.07	0.19
Current Ratio	1.07	1.09	1.06	1.14	1.06	1.1	1.1	1.05	1.05	1.05	1.07	0.99	0.99	1.01	1.05
Quick Ratio	0.1	0.13	0.13	0.21	0.12	0.14	0.15	0.14	0.13	0.14	0.14	0.08	0.12	0.15	0.28
CFO/Avg Current Liab	0.07	0.08	0.07	0.07	0.08	0.06	0.06	0.08	0.09	0.1	0.09	0.07	0.09	0.09	0.11
Common Equity/Total Assets	34.66	40.57	40.55	42.72	40.85	32.21	39.79	42.76	41.93	47.24	40.01	32.92	43.52	43.57	47.41
Long-Term Debt/Equity (%)	0.57	0.27	0.24	0.17	0.19	44.8	50.35	42.28	37.08	23.42	58.7	104.11	95.15	73	69.42
Long-Term Debt/Capital (%)	0.29	0.13	0.11	0.07	0.07	12.49	11.92	10.76	10.1	6.46	14.55	13.84	13.03	12.12	12.5
Long-Term Debt/Total Assets (%)	0.1	0.05	0.05	0.04	0.03	4.6	5.39	5.15	4.78	3.44	6.82	5.32	6.55	6.11	8.05
Total Debt/Equity (%)	0.57	0.27	4.21	32.75	0.19	44.8	50.35	42.28	41.93	40.84	59.11	108.34	98.15	81.48	146.5
Total Debt/Capital (%)	0.29	0.13	1.95	13.76	0.07	12.49	11.92	10.76	11.42	11.27	14.66	14.41	13.44	13.53	26.38
Total Debt/Total Assets (%)	0.1	0.05	0.81	6.81	0.03	4.6	5.39	5.15	5.41	6	6.87	5.54	6.76	6.82	16.99
CFO/Total Liabilities	6.04	7.73	6.05	7.17	6.97	4.84	6.4	7.37	7.37	9.06	7.18	5.18	8.87	8.35	10.47
CFO/CapEx	17.81	17.44	15.04	12.68	11.17	8.72	9.23	9.5	6.65	6.82	9.45	8.18	11.52	11.71	13.06
Altman's Z-Score	1.62	1.94	1.89	2.11	2.05	1.68	2.1	2.34	2.5	2.62	2.43	1.85	2.48	2.55	3.17

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	06/30/2011	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025

Accounts Receivable Turnover	8.46	8.14	6.67	6.98	7.39	7.09	7.18	7.2	6.38	5.98	5.81	5.59	5.83	5.97	5.87
Days Sales Outstanding	43.15	44.84	54.72	52.3	49.41	51.46	50.84	50.7	57.21	61.05	62.86	65.24	62.62	61.18	62.2
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	37.64	38.69	34.42	39.15	37.09	39.45	47.98	54.42	61.49	74.24	71.08	75.3	96.17	106.15	82.29
Accounts Payable Turnover Days	9.7	9.43	10.6	9.32	9.84	9.25	7.61	6.71	5.94	4.92	5.13	4.85	3.8	3.44	4.44
Cash Conversion Cycle	33.46	35.41	44.12	42.98	39.57	42.2	43.23	43.99	51.28	56.13	57.73	60.4	58.82	57.75	57.76
Inventory to Cash Days	43.15	44.84	54.72	52.3	49.41	51.46	50.84	50.7	57.21	61.05	62.86	65.24	62.62	61.18	62.2
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	06/30/2011	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025

Market Capitalization	22,805	23,795	29,160	33,307	37,917	41,985	45,882	59,102	71,919	64,142	84,672	87,965	90,927	98,006	125,550
- Cash & Cash Equivalents	1,389	1,548	1,699	1,584	1,639	3,191	2,780	2,170	1,949	1,908	2,575	1,436	2,084	2,913	3,348
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	34	17	261	2,184	9	2,008	2,002	2,002	2,264	2,349	3,352	3,494	3,444	3,705	9,065
Enterprise Value	21,413	22,233	27,693	31,876	36,260	40,778	45,104	58,934	72,223	64,582	85,448	89,976	92,273	98,414	126,768
Total Capital	11,902	12,519	13,345	15,881	13,533	16,075	16,794	18,613	19,829	20,849	22,867	24,255	25,626	27,391	34,370
Total Debt/Capital (%)	0.29	0.13	1.95	13.76	0.07	12.49	11.92	10.76	11.42	11.27	14.66	14.41	13.44	13.53	26.38
Total Debt / EV	- -	- -	0.01	0.07	- -	0.05	0.04	0.03	0.03	0.04	0.04	0.04	0.04	0.04	0.07
EV/Sales	2.18	2.1	2.93	3.12	3.31	3.49	3.65	4.44	5.12	4.43	5.69	5.45	5.12	5.13	6.17
EV/EBITDA	10.08	9.85	14.43	15.31	15.82	16.45	16.89	20.08	21.04	17.83	22.28	20.84	18.25	17.86	21.15
EV/EBIT	11.83	11.47	16.61	17.56	18	18.62	19.16	23.04	23.88	20.56	25.7	23.66	20.47	19.89	23.42
EV/Cash Flow to Firm	12.51	11.61	17.49	17.46	18.33	21.08	20.68	22.67	25.91	20.77	27.22	28.45	20.96	22.19	23.96
EV/Free Cash Flow to Firm	11.85	10.98	16.41	16.19	16.83	18.95	18.71	20.57	22.63	18.18	24.65	25.4	19.35	20.54	22.36
Diluted Market Cap	23,026	24,034	29,426	33,600	38,173	42,178	46,138	59,464	72,348	64,425	85,029	88,448	91,367	98,388	126,043
Diluted Enterprise Value	21,671	22,503	27,987	34,200	36,543	40,994	45,360	59,297	72,663	64,865	85,806	90,506	92,728	99,180	131,761
EV per Share	43.39	45.63	57.37	66.56	76.72	89.23	100.72	133.76	166.03	149.91	200.44	214.84	223.04	239.68	311.39
TTM Sales	9,833	10,595	9,442	10,226	10,938	11,668	12,372	13,274	14,110	14,590	15,005	16,498	18,012	19,203	20,561
TTM EBITDA	2,125	2,258	1,919	2,082	2,292	2,479	2,670	2,935	3,433	3,622	3,835	4,318	5,057	5,509	5,994
TTM Operating Income	1,810	1,939	1,668	1,815	2,014	2,190	2,354	2,557	3,024	3,142	3,325	3,803	4,507	4,947	5,412
TTM Cash Flow to Firm	1,711	1,915	1,583	1,825	1,978	1,935	2,181	2,600	2,787	3,109	3,139	3,163	4,402	4,436	5,290
TTM Free Cash Flow to Firm	1,807	2,025	1,688	1,969	2,155	2,152	2,411	2,865	3,192	3,553	3,467	3,542	4,768	4,791	5,668

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	06/30/2011	06/30/2012	06/30/2013	06/30/2014	06/30/2015	06/30/2016	06/30/2017	06/30/2018	06/30/2019	06/30/2020	06/30/2021	06/30/2022	06/30/2023	06/30/2024	06/30/2025

Price/Free Cash Flow	12.78	11.9	17.49	17.1	17.75	19.94	19.58	21.39	23.39	18.57	24.86	25.43	19.98	21.8	23.7
EV/EBIT	11.83	11.47	16.61	17.56	18	18.62	19.16	23.04	23.88	20.56	25.7	23.66	20.47	19.89	23.42
Enterprise Value	21,413	22,233	27,693	31,876	36,260	40,778	45,104	58,934	72,223	64,582	85,448	89,976	92,273	98,414	126,768
Low Price	33.7	39.23	47.39	60.31	69.48	64.29	85.48	100.51	121.4	103.11	127.31	192.26	201.46	205.53	231.27
EV/Sales	2.18	2.1	2.93	3.12	3.31	3.49	3.65	4.44	5.12	4.43	5.69	5.45	5.12	5.13	6.17
EV/EBITDA	10.08	9.85	14.43	15.31	15.82	16.45	16.89	20.08	21.04	17.83	22.28	20.84	18.25	17.86	21.15
Price/Earnings	18.18	17.14	20.74	21.97	26.1	28.13	25.66	31.36	31.37	26.01	32.58	29.83	26.65	26.12	30.77
Price/Earnings Average	16.22	16.17	18.38	21.08	26.38	25.9	24.23	27.17	28	27.74	27.54	30.73	27.98	26.44	29.05
Price/Earnings High	19.02	17.58	21.69	23.23	29.36	28.13	26.47	33.08	32.34	31.84	32.89	35.36	33.33	28.11	32.92
Price/Earnings Low	13.26	13.77	16.27	19.05	22.61	19.69	21.41	23.49	23.03	18.01	20.89	27.3	24.43	22.49	23.08
Price/Book Value	1.92	1.9	2.23	2.43	2.8	2.98	3.1	3.56	4.09	3.47	4.34	4.24	4.1	4.14	4.96
Price/Book Value Average	1.71	1.8	1.97	2.33	2.83	2.75	2.93	3.08	3.66	3.7	3.67	4.37	4.3	4.19	4.68
Price/Book Value High	2.01	1.95	2.33	2.57	3.15	2.98	3.2	3.75	4.22	4.25	4.38	5.02	5.13	4.45	5.31
Price/Book Value Low	1.4	1.53	1.75	2.11	2.43	2.09	2.59	2.67	3.01	2.4	2.78	3.88	3.76	3.56	3.72
Price/Tangible Book Value	10.27	10.07	11.63	7.75	15.1	18.53	28.4	36.8	35.86	28.8	39.91	-215.44	-522.87	114.23	95.73
Price/Tangible Book Value Average	9.16	9.5	10.31	7.44	15.25	17.06	26.81	31.89	32.02	30.72	33.74	-221.97	-548.98	115.64	90.38
Price/Tangible Book Value High	10.74	10.33	12.16	8.2	16.98	18.53	29.29	38.83	36.97	35.27	40.29	-255.36	-654.02	122.91	102.41
Price/Tangible Book Value Low	7.49	8.09	9.12	6.72	13.07	12.97	23.69	27.57	26.33	19.95	25.58	-197.2	-479.26	98.36	71.79
Price/Sales	2.32	2.25	3.09	3.26	3.47	3.6	3.71	4.45	5.1	4.4	5.64	5.33	5.05	5.1	6.11
Price/Sales Average	2.07	2.12	2.74	3.12	3.5	3.31	3.5	3.86	4.55	4.69	4.77	5.49	5.3	5.17	5.76
Price/Sales High	2.43	2.3	3.23	3.44	3.9	3.6	3.83	4.7	5.25	5.38	5.7	6.32	6.31	5.49	6.53
Price/Sales Low	1.69	1.8	2.42	2.82	3	2.52	3.09	3.34	3.74	3.04	3.62	4.88	4.63	4.39	4.58
Price/Cash Flow	13.37	12.46	18.49	18.29	19.21	22.13	21.58	23.5	26.75	21.2	27.37	28.38	21.61	23.57	25.42
Price/Cash Flow Average	11.93	11.75	16.38	17.54	19.41	20.37	20.38	20.36	23.88	22.61	23.14	29.24	22.69	23.86	24
Price/Cash Flow High	13.99	12.78	19.33	19.33	21.6	22.13	22.26	24.79	27.58	25.95	27.63	33.64	27.03	25.37	27.19
Price/Cash Flow Low	9.75	10.01	14.5	15.86	16.63	15.49	18.01	17.61	19.64	14.68	17.55	25.98	19.81	20.3	19.06
Price/Free Cash Flow Average	11.4	11.23	15.5	16.4	17.94	18.36	18.49	18.54	20.88	19.8	21.01	26.2	20.98	22.07	22.38
Price/Free Cash Flow High	13.37	12.21	18.29	18.08	19.96	19.94	20.2	22.57	24.12	22.74	25.09	30.14	24.99	23.46	25.36
Price/Free Cash Flow Low	9.32	9.56	13.72	14.83	15.37	13.96	16.34	16.03	17.18	12.86	15.93	23.27	18.31	18.77	17.77
EV/Sales Average	1.93	1.97	2.58	3.18	3.35	3.21	3.44	3.85	4.57	4.72	4.82	5.62	5.38	5.21	6.04
EV/Sales High	2.29	2.16	3.08	3.5	3.75	3.5	3.76	4.68	5.28	5.41	5.75	6.44	6.39	5.53	6.81
EV/Sales Low	1.55	1.66	2.27	2.88	2.85	2.42	3.03	3.32	3.76	3.07	3.67	5.01	4.7	4.44	4.86
EV/EBITDA Average	8.94	9.26	12.72	15.64	16.01	15.12	15.93	17.39	18.79	19.01	18.86	21.46	19.15	18.15	20.73
EV/EBITDA High	10.59	10.13	15.14	17.2	17.89	16.46	17.43	21.19	21.69	21.81	22.49	24.62	22.76	19.29	23.36
EV/EBITDA Low	7.19	7.79	11.17	14.16	13.62	11.37	14.05	15.03	15.47	12.39	14.35	19.12	16.75	15.46	16.66
EV/EBIT Average	10.49	10.79	14.63	17.93	18.21	17.11	18.07	19.96	21.33	21.92	21.76	24.37	21.48	20.22	22.96
EV/EBIT High	12.43	11.8	17.42	19.73	20.36	18.63	19.78	24.32	24.62	25.14	25.94	27.96	25.53	21.48	25.87
EV/EBIT Low	8.44	9.07	12.86	16.24	15.49	12.87	15.93	17.25	17.57	14.28	16.56	21.71	18.79	17.22	18.45
Last Price	46.21	48.83	60.41	69.55	80.23	91.87	102.46	134.14	165.33	148.89	198.62	210.04	219.79	238.69	308.4
High Price	48.35	50.09	63.16	73.53	90.23	91.87	105.68	141.52	170.45	182.32	200.51	248.96	274.92	256.84	329.93
Enterprise Value Average	18,987	20,916	24,402	32,551	36,684	37,473	42,541	51,047	64,524	68,857	72,349	92,688	96,828	100,012	124,251
Enterprise Value High	22,506	22,878	29,049	35,814	41,013	40,801	46,546	62,186	74,461	78,984	86,254	106,323	115,095	106,250	140,032
Enterprise Value Low	15,276	17,585	21,437	29,483	31,206	28,197	37,500	44,117	53,124	44,860	55,049	82,577	84,705	85,183	99,868

Shares Outstanding	491	484	483	480	466	456	445	439	434	430	424	416	412	408	405
Diluted Weighted Avg Shares	498	492	487	483	476	459	450	443	438	433	428	421	416	412	409
Basic Weighted Avg Shares	494	487	483	479	473	457	448	441	435	431	426	419	414	411	407
Revenue per Share	19.93	21.74	19.56	21.35	23.15	25.53	27.63	30.13	32.44	33.87	35.2	39.39	43.54	46.77	50.51
EBITDA per Share	4.31	4.63	3.97	4.35	4.85	5.42	5.96	6.66	7.89	8.41	9	10.31	12.22	13.42	14.72
Operating Income per Share	3.67	3.98	3.45	3.79	4.26	4.79	5.26	5.8	6.95	7.29	7.8	9.08	10.9	12.05	13.29
Basic EPS, GAAP	2.54	2.85	2.91	3.17	3.07	3.27	3.99	4.28	5.27	5.73	6.1	7.04	8.25	9.14	10.02
Basic EPS from Cont Ops	2.52	2.82	2.32	2.59	2.91	3.27	3.99	4.28	5.27	5.73	6.1	7.04	8.25	9.14	10.02
Diluted EPS, GAAP	2.52	2.82	2.89	3.14	3.05	3.25	3.97	4.25	5.24	5.7	6.07	7	8.21	9.1	9.98
Diluted EPS from Cont Ops	2.5	2.79	2.3	2.57	2.89	3.25	3.97	4.25	5.24	5.7	6.07	7	8.21	9.1	9.98
Dividend per Share	1.4	1.52	1.67	1.84	1.96	2.06	2.22	2.41	2.97	3.41	3.7	3.96	4.6	5.32	5.89
Cash Flow per Share	3.46	3.92	3.27	3.8	4.18	4.15	4.75	5.71	6.18	7.02	7.26	7.4	10.17	10.13	12.13
Free Cash Flow per Basic Share	3.26	3.7	3.05	3.5	3.8	3.68	4.23	5.11	5.25	5.99	6.49	6.5	9.29	9.26	11.2
Cash & Equivalents per Share	2.89	3.24	3.58	7.55	3.52	7.03	6.21	4.93	4.51	4.43	6.04	3.54	5.07	8.03	19.27
Book Value per Share	24.05	25.66	27.11	28.6	28.62	30.78	33.03	37.7	40.38	42.94	45.78	49.57	53.62	57.69	62.16
Tangible Book Value per Share	4.5	4.85	5.19	8.97	5.31	4.96	3.61	3.65	4.61	5.17	4.98	-0.97	-0.42	2.09	3.22

Automatic Data Processing, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)