Stock Analysis on Net

Automatic Data Processing Inc. (NASDAQ:ADP)

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

Market Value Added (MVA)

Microsoft Excel

MVA

Automatic Data Processing Inc., MVA calculation

US$ in thousands

Microsoft Excel
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
Fair value of debt1 3,090,800 2,146,700 2,332,300 1,989,000 2,071,900 2,148,700
Operating lease liability 437,900 439,900 542,858 484,694 428,436 445,608
Market value of common equity 89,693,078 57,946,438 72,785,232 58,812,610 49,498,904 40,905,387
Preferred stock, $1.00 par value; issued, none
Less: Marketable securities 33,900 13,600 271,900 10,500 10,800 31,300
Market (fair) value of ADP 93,187,878 60,519,438 75,388,490 61,275,804 51,988,440 43,468,395
Less: Invested capital2 10,152,600 9,580,300 9,463,158 7,289,794 7,519,836 7,921,908
MVA 83,035,278 50,939,138 65,925,332 53,986,010 44,468,604 35,546,487

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

1 Fair value of debt. See details »

2 Invested capital. See details »

Item Description The company
MVA Automatic Data Processing Inc. market (fair) value less invested capital. Automatic Data Processing Inc. MVA decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.

MVA Spread Ratio

Automatic Data Processing Inc., MVA spread ratio calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 83,035,278 50,939,138 65,925,332 53,986,010 44,468,604 35,546,487
Invested capital2 10,152,600 9,580,300 9,463,158 7,289,794 7,519,836 7,921,908
Performance Ratio
MVA spread ratio3 817.87% 531.71% 696.65% 740.57% 591.35% 448.71%
Benchmarks
MVA Spread Ratio, Competitors4
Accenture PLC 739.74% 550.21% 505.40% 481.52%
Adobe Inc. 1,033.13% 1,082.99% 884.94% 680.30%
International Business Machines Corp. 54.96% 39.12% 47.78%
Intuit Inc. 1,175.12% 976.09% 1,553.30% 1,330.67%
Microsoft Corp. 1,383.21% 1,315.93% 962.41% 863.13%
Oracle Corp. 260.27% 180.84% 220.64% 167.48%
Palo Alto Networks Inc. 573.47% 267.90% 424.76% 461.39%
Salesforce Inc. 270.75% 226.93% 326.41%
ServiceNow Inc. 1,798.18% 2,575.52% 2,192.76%
Synopsys Inc. 707.79% 468.10% 272.11% 150.54%

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

1 MVA. See details »

2 Invested capital. See details »

3 2021 Calculation
MVA spread ratio = 100 × MVA ÷ Invested capital
= 100 × 83,035,278 ÷ 10,152,600 = 817.87%

4 Click competitor name to see calculations.

Performance ratio Description The company
MVA spread ratio The ratio of MVA to invested capital. It measures the efficiency with which investors’ capital investment has translated into a franchise value and into an aggregate net present value premium. Automatic Data Processing Inc. MVA spread ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

MVA Margin

Automatic Data Processing Inc., MVA margin calculation, comparison to benchmarks

Microsoft Excel
Jun 30, 2021 Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016
Selected Financial Data (US$ in thousands)
Market value added (MVA)1 83,035,278 50,939,138 65,925,332 53,986,010 44,468,604 35,546,487
 
Revenues 15,005,400 14,589,800 14,175,200 13,325,800 12,379,800 11,667,800
Add: Increase (decrease) in deferred revenues (16,800) (36,900) (53,800) (20,000) 10,000 23,000
Adjusted revenues 14,988,600 14,552,900 14,121,400 13,305,800 12,389,800 11,690,800
Performance Ratio
MVA margin2 553.99% 350.03% 466.85% 405.73% 358.91% 304.06%
Benchmarks
MVA Margin, Competitors3
Accenture PLC 379.26% 279.96% 233.58% 202.17%
Adobe Inc. 1,287.44% 1,554.19% 1,330.31% 1,114.60%
International Business Machines Corp. 104.85% 68.01% 81.54%
Intuit Inc. 1,489.94% 1,098.60% 1,034.92% 884.25%
Microsoft Corp. 1,148.11% 976.86% 711.95% 612.04%
Oracle Corp. 514.72% 411.93% 401.82% 302.52%
Palo Alto Networks Inc. 771.68% 434.92% 469.62% 683.93%
Salesforce Inc. 620.94% 558.53% 642.57%
ServiceNow Inc. 1,555.49% 2,101.04% 1,606.91%
Synopsys Inc. 1,126.17% 803.94% 470.26% 256.95%

Based on: 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30).

1 MVA. See details »

2 2021 Calculation
MVA margin = 100 × MVA ÷ Adjusted revenues
= 100 × 83,035,278 ÷ 14,988,600 = 553.99%

3 Click competitor name to see calculations.

Performance ratio Description The company
MVA margin The ratio of MVA to sales. It measures how efficiently and prodigiously sales translate into franchise value. Automatic Data Processing Inc. MVA margin ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.