Automatic Data Processing (ADP) 10-K Summary — Year Ended Jun 30, 2023
Automatic Data Processing provides cloud-based human capital management and payroll services. The company reported revenue growth and positive net income, with solid operating cash flow.
Key takeaway
Year ended Jun 30, 2023 · FY2025 10-K
Automatic Data Processing provides cloud-based human capital management and payroll services. The company reported revenue growth and positive net income, with solid operating cash flow.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$18B
Revenue reported for the fiscal year.
Operating income
n/a
Income from operations reported for the year.
Net income
$3.4B
Net income reported for the year.
Operating cash flow
$4.2B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jun 30, 2021 | $15B | n/a |
| Jun 30, 2022 | $16.5B | +9.9% |
| Jun 30, 2023 | $18B | +9.2% |
Business overview
The company is a provider of cloud-based human capital management technology and payroll services. It offers solutions for workforce management, benefits administration, and talent management. The filing describes these business activities under the business overview section.
Financial performance
Revenue increased compared to the prior period, and net income reached a reported level. Operating cash flow was reported, indicating the company generated cash from its core operations.
Material risks
The filing lists risk factors in Item 1A, though the supplied context does not detail specific risks. The company states that its financial condition remains solid with sufficient liquidity.
Liquidity and capital
The company expects cash, cash equivalents, marketable securities, operating cash flow, and committed credit facilities to meet operating, investing, and financing needs, including dividends and share repurchases. Client funds liquidity may be supplemented by commercial paper and reverse repurchase arrangements.
What to watch
Monitor any changes in the company's committed credit facilities or commercial paper program, as these support client funds liquidity.