Automatic Data Processing vs Paychex
Automatic Data Processing is the larger business, with $21.95bn of revenue in fiscal 2026 against $6.51bn for Paychex (3.4 times as much). Paychex grew faster (16.9% against 6.7%). Paychex kept more of each dollar of sales as profit: a net margin of 27.0% against 20.1%. Automatic Data Processing carries less debt relative to equity (82.3% against 123.2%).
| Latest fiscal year | Automatic Data ProcessingADP, 2026 | PaychexPAYX, 2026 |
|---|---|---|
| Revenue | $21.95bn | $6.51bn |
| Revenue growth | 6.7% | 16.9% |
| Net income | $4.41bn | $1.76bn |
| Operating margin | — | 38.6% |
| Net margin | 20.1% | 27.0% |
| Return on equity | 72.2% | 44.8% |
| Free cash flow | $5.24bn | $2.32bn |
| Cash | $4.23bn | $1.09bn |
| Total debt | $4.97bn | $4.60bn |
| Debt to equity | 82.3% | 123.2% |
| Dividend per share | $6.64 | $4.43 |
| Dividend yield | 2.3% | 4.0% |
| Share buybacks | $2.08bn | $611m |
| Employees | — | 17,600 |
| Market value | $117.41bn | $41.31bn |
| Price vs our value range | Within our value range | Within our value range |
| Moat score | 64 (Moderate) | 82 (Strong) |
| Insider trades, 12 months | 1 buys, 39 sales | 2 buys, 6 sales |