ADP FY2026: revenue up 7% to $21.95 billion, adjusted EPS up 11%
ADP finished fiscal 2026 with $21.95 billion of revenue, up 7%, and adjusted diluted EPS of $11.12, up 11%, then guided fiscal 2027 revenue growth down to 5% to 6%. Profitability is still improving and cash returns are large, but retention, payroll headcount and PEO margin are all softening. Read this as a high-quality business that is decelerating: Neutral.
1 · Expected vs. Actual
Free preview belowDiluted EPS was $10.94 for the year, up 10%, and adjusted diluted EPS was $11.12, up 11%. In the fourth quarter, GAAP EPS of $2.45 came in below the $2.6205 consensus, while adjusted EPS of $2.64 beat it by roughly 0.7%, with the $91.1 million business alignment charge costing about $0.17 a share. The quality of the beat therefore depends entirely on whether you accept that charge as one-off.
Full-year revenue reached $21.95 billion, up 7% as reported and 6% in organic constant currency, with the fourth quarter at $5.47 billion, also up 7%. The drop from the fiscal third quarter's $5.94 billion is seasonal rather than a break in the trend, because client funds interest and PEO pass-through activity peak earlier in the year. Nothing here misses; it simply confirms a mid-single-digit grower.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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