Q4 25 EPS
$2.23
BEAT +0.00%
Est. $2.23
Q4 25 Revenue
$5.13B
BEAT +1.62%
Est. $5.05B
vs S&P Since Q4 25
-43.5%
TRAILING MARKET
ADP -30.0% vs S&P +13.6%
Full Year 2025 Results
FY 25 EPS
$9.98
MISS 0.01%
Est. $9.98
FY 25 Revenue
$20.56B
BEAT +0.40%
Est. $20.48B
Market Reaction
Did ADP Beat Earnings? Q4 2025 Results
Automatic Data Processing closed fiscal 2025 on a confident note, with Q4 revenue climbing 7.5% year over year to $5.13 billion, clearing the $5.05 billion consensus estimate by 1.62%, while earnings per share of $2.23 landed precisely in line with e… Read more Automatic Data Processing closed fiscal 2025 on a confident note, with Q4 revenue climbing 7.5% year over year to $5.13 billion, clearing the $5.05 billion consensus estimate by 1.62%, while earnings per share of $2.23 landed precisely in line with expectations. Investors tracking the quarter closely watched the Employer Services segment, which proved to be the primary engine behind the results, with full-year revenue rising 7% to $13.88 billion and segment margin expanding 100 basis points to 36.1%, reflecting both client retention improvements to 92.1% and new business bookings growth of 3% to $2.10 billion. Interest on funds held for clients also contributed meaningfully, rising 16% for the full year to $1.19 billion. ADP's responsible debt management and consistent cash generation continue to underpin its financial flexibility as it looks ahead; for fiscal 2026, management guided for revenue growth of 5% to 6%, adjusted EBIT margin expansion of 50 to 70 basis points, and adjusted diluted EPS growth of 8% to 10%.
Key Takeaways
- • Employer Services revenue growth of 8% in Q4, driven by organic growth and acquisitions
- • PEO Services revenue growth of 7% in Q4 with average worksite employees up 3% to about 761,000
- • Interest on funds held for clients increased 11% in Q4 to $308 million, supported by 6% growth in average client funds balances and 20 basis point yield improvement
- • Record-high client satisfaction levels across the company
- • Employer Services client revenue retention improved to 92.1%
- • Employer Services new business bookings increased 3% to $2.1 billion for the fiscal year
- • Net share count reduction contributed to EPS growth
- • U.S. pays per control increased 1% in Q4 and for the full year
ADP YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
ADP Revenue by Segment
With YoY comparisons, source: SEC Filings
“We concluded fiscal year 2025 with strong revenue and earnings growth. Revenue growth in our Employer Services and PEO segments came in at the high-end of our full year expectations, bolstered by record-high client satisfaction levels across the company. As we enter a new fiscal year, we remain committed to actively listening to our clients and consistently meeting their needs through cutting-edge products, premium services, and exceptional experiences designed to elevate the world of work.”
— Maria Black, Q4 2025 Earnings Press Release
ADP Earnings Trends
ADP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ADP EPS Trend
Earnings per share: estimate vs actual
ADP Revenue Trend
Quarterly revenue: estimate vs actual
ADP Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 | — | $3.37 | — | $5.94B | +1.55% |
| Q2 26 BEAT | $2.57 | $2.62 | +2.00% | $5.36B | +0.39% |
| Q1 26 BEAT | $2.44 | $2.49 | +1.94% | $5.18B | +0.81% |
| Q4 25 BEAT FY | $2.23 | $2.23 | +0.00% | $5.13B | +1.62% |
| FY Full Year | $9.98 | $9.98 | -0.01% | $20.56B | +0.40% |
| Q3 25 BEAT | $2.97 | $3.06 | +2.93% | $5.55B | +1.10% |