Stock Analysis on Net
Stock Analysis on Net

Automatic Data Processing Inc. (NASDAQ:ADP)

$22.49

This company has been moved to the archive! The financial data has not been updated since April 29, 2022.

Common-Size Balance Sheet: Assets
Quarterly Data

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Automatic Data Processing Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015
Cash and cash equivalents
Accounts receivable, net of allowance for doubtful accounts
Other current assets
Current assets before funds held for clients
Funds held for clients
Current assets
Long-term receivables, net of allowance for doubtful accounts
Property, plant and equipment, net
Operating lease right-of-use asset
Deferred contract costs
Other assets
Goodwill
Intangible assets, net
Noncurrent assets
Total assets

Based on: 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-K (reporting date: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-Q (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets exhibited a general declining trend over the observed period. Starting at 9.26% in September 2015, it dropped with fluctuations and ended at 2.27% by March 2022, indicating a reduced liquidity buffer in the asset structure.
Accounts receivable, net
The accounts receivable percentage of total assets generally increased over time. It began at 4.55% in late 2015 and experienced fluctuations with a peak around 6.8% in December 2018, subsequently settling near 4.51% at the end of the data period. This pattern indicates moderate variability in credit extended to customers relative to asset base.
Other current assets
This component mostly remained low, fluctuating between approximately 0.97% and 3.26%. One notable anomaly was a spike to 11.19% in September 2019, suggesting a one-off event or reclassification of assets during that quarter. Aside from this, the trend was relatively stable and declining towards the later dates.
Current assets before funds held for clients
There was a modest downward trend in current assets excluding client funds, shrinking from 16.48% in September 2015 to 7.75% by March 2022. The data shows volatility, with a peak at 21.52% in September 2019 coinciding with the noted 'Other current assets' spike, potentially linked to atypical asset composition changes.
Funds held for clients
This category represented the largest asset portion throughout the period, ranging roughly from 56.72% to 80.92%. The proportion initially increased from 71.29% in 2015 to highs above 77% in various quarters. A significant dip occurred around mid-2019 to early 2020, followed by recovery towards over 80% again by early 2022, highlighting strong and fluctuating client fund balances.
Current assets
Total current assets including funds held for clients remained the dominant part of the balance sheet, fluctuating between 78.24% and 91.58%. The total generally stayed above 80%, demonstrating that current assets constitute the majority of the asset base, with some variations possibly tied to business cycles or client funds behavior.
Long-term receivables
Long-term receivables consistently represented a very small percentage of total assets, declining gradually from 0.09% to 0.01%, indicating limited emphasis on extended credit or installment receivables at longer maturities.
Property, plant and equipment, net
The PP&E proportion remained low throughout the period, with minor fluctuations generally between 0.9% and 2.24%. The trend slightly decreased toward the end, indicating a relatively small physical asset base within the total holdings.
Operating lease right-of-use asset
This asset category was introduced partway through the period and showed a declining trend from a high of 1.34% in 2019 down to 0.62% by early 2022, reflecting possible amortization or lease terminations.
Deferred contract costs
Not reported until around mid-2018, deferred contract costs ranged between approximately 3.46% and 6.37% with slight fluctuations, generally trending downwards towards the final quarters, which may indicate maturation or reduced capitalization of contract-related costs.
Other assets
Other non-current assets showed a decreasing trend from about 3.87% early on to around 1.26% near the end of the period. Fluctuations were moderate, suggesting some shifts in asset composition but an overall decline in this category.
Goodwill
Goodwill as a percentage of total assets was variable, fluctuating between roughly 3.22% and 6.21%. A peak occurred around mid-2018, with a gradual decreasing trend towards the end, potentially due to impairments or acquisition strategy adjustments.
Intangible assets, net
Intangible assets increased from approximately 1.39% to a peak around 3.1% in mid-2020 before declining again to about 1.84% by early 2022. This suggests an investment in intangible resources that peaked and then decreased, possibly due to amortization or reclassification.
Noncurrent assets
The share of noncurrent assets fluctuated significantly, starting at 12.23%, rising at times above 20%, then declining to 11.33% at the end of the period. The volatility likely reflects changes in long-term investments, deferred costs, and other noncurrent categories combined.
Total assets
By definition, total assets represent 100% for each period. The relative composition changes discussed above illustrate shifts in asset structure over the observed quarters.