Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).

Historical Valuation Ratios (Summary)
Price to Earnings (P/E)
Price to Operating Profit (P/OP)
Price to Sales (P/S)
Price to Book Value (P/BV)

Automatic Data Processing Inc., historical price multiples (quarterly data)

	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	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014
Price to earnings (P/E)	28.68	27.24	23.49	23.85	30.04	29.56	31.75	36.20	33.56	35.76	36.29	31.06	30.98	28.71	28.56	25.34	25.24	26.44	27.41	25.46	24.99	26.85	25.75	—	—	—
Price to operating profit (P/OP)	22.46	21.35	18.44	18.74	23.46	22.74	24.07	23.79	21.71	23.45	23.42	23.30	22.77	21.57	21.27	18.72	18.31	17.88	18.67	18.50	18.24	19.62	18.57	—	—	—
Price to sales (P/S)	4.88	4.65	3.97	4.10	5.10	4.88	5.13	4.98	4.40	4.55	4.41	4.22	4.17	4.04	4.00	3.63	3.55	3.40	3.51	3.44	3.34	3.62	3.42	—	—	—
Price to book value (P/BV)	12.07	11.66	10.07	10.99	13.79	13.07	13.48	13.29	12.79	13.18	17.00	13.71	13.58	12.83	12.45	10.81	11.21	9.48	9.13	8.75	8.93	8.66	7.78	7.74	7.54	6.53

Valuation ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Automatic Data Processing Inc.’s P/E ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
P/OP ratio	Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.	Automatic Data Processing Inc.’s P/OP ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Automatic Data Processing Inc.’s P/S ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return.	Automatic Data Processing Inc.’s P/BV ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Automatic Data Processing Inc., historical P/E calculation (quarterly data)

	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	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014
No. shares of common stock outstanding¹	427,940,220	428,813,999	429,965,405	429,774,376	431,754,252	432,698,089	433,942,837	435,228,237	435,629,656	437,732,499	438,082,756	440,522,324	443,269,657	443,489,730	444,374,752	447,410,344	448,902,582	451,173,217	456,176,951	455,534,803	457,451,131	461,206,624	465,810,128	469,524,030	475,152,112	482,056,801
Selected Financial Data (US$)
Net earnings (in thousands)	647,500	602,100	411,600	820,900	651,600	582,400	475,500	753,700	558,200	505,400	108,700	643,100	467,500	401,500	265,900	587,900	510,900	368,700	282,000	532,500	341,400	336,600	336,200	489,600	331,500	295,200
Earnings per share (EPS)²	5.80	5.80	5.74	5.89	5.71	5.48	5.28	4.43	4.17	3.94	3.70	4.04	3.89	3.98	3.90	3.91	3.77	3.38	3.27	3.40	3.29	3.24	3.12	0.00	0.00	0.00
Share price^1, 3	166.35	157.96	134.77	140.42	171.39	161.88	167.73	160.19	139.84	140.91	134.25	125.36	120.42	114.34	111.39	99.10	95.25	89.33	89.67	86.45	82.15	86.98	80.29	85.41	87.17	78.95
Valuation Ratio
P/E ratio⁴	28.68	27.24	23.49	23.85	30.04	29.56	31.75	36.20	33.56	35.76	36.29	31.06	30.98	28.71	28.56	25.34	25.24	26.44	27.41	25.46	24.99	26.85	25.75	—	—	—
Benchmarks
P/E Ratio, Competitors⁵
Accenture PLC	—	31.97	28.32	27.95	20.33	27.24	24.58	24.95	25.00	21.74	24.10	26.63	26.94	27.54	26.18	21.77	20.32	17.67	18.07	20.28	20.10	22.10	22.75	—	—	—
Waste Management Inc.	—	—	—	31.08	28.70	24.26	31.59	27.42	28.17	23.89	21.76	15.75	17.24	17.38	18.70	25.57	25.33	26.15	26.48	25.25	25.36	22.72	32.73	—	—	—

¹ Data adjusted for splits and stock dividends.

² Q2 2021 Calculation
EPS = (Net earnings_{Q2 2021} + Net earnings_{Q1 2021} + Net earnings_{Q4 2020} + Net earnings_{Q3 2020}) ÷ No. shares of common stock outstanding
= (647,500,000 + 602,100,000 + 411,600,000 + 820,900,000) ÷ 427,940,220 = 5.80

³ Closing price as at the filing date of Automatic Data Processing Inc.’s Quarterly or Annual Report.

⁴ Q2 2021 Calculation
P/E ratio = Share price ÷ EPS
= 166.35 ÷ 5.80 = 28.68

⁵ Click competitor name to see calculations.

Valuation ratio	Description	The company
P/E ratio	The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings.	Automatic Data Processing Inc.’s P/E ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Automatic Data Processing Inc., historical P/OP calculation (quarterly data)

	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	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014
No. shares of common stock outstanding¹	427,940,220	428,813,999	429,965,405	429,774,376	431,754,252	432,698,089	433,942,837	435,228,237	435,629,656	437,732,499	438,082,756	440,522,324	443,269,657	443,489,730	444,374,752	447,410,344	448,902,582	451,173,217	456,176,951	455,534,803	457,451,131	461,206,624	465,810,128	469,524,030	475,152,112	482,056,801
Selected Financial Data (US$)
Operating income (in thousands)	817,500	755,400	544,100	1,052,100	821,100	724,400	623,400	985,200	747,000	668,800	529,700	860,500	571,500	550,000	387,700	834,800	578,700	525,600	429,500	801,500	497,300	462,200	367,600	732,800	481,800	431,800
Operating profit per share²	7.41	7.40	7.31	7.49	7.31	7.12	6.97	6.73	6.44	6.01	5.73	5.38	5.29	5.30	5.24	5.29	5.20	5.00	4.80	4.67	4.50	4.43	4.32	0.00	0.00	0.00
Share price^1, 3	166.35	157.96	134.77	140.42	171.39	161.88	167.73	160.19	139.84	140.91	134.25	125.36	120.42	114.34	111.39	99.10	95.25	89.33	89.67	86.45	82.15	86.98	80.29	85.41	87.17	78.95
Valuation Ratio
P/OP ratio⁴	22.46	21.35	18.44	18.74	23.46	22.74	24.07	23.79	21.71	23.45	23.42	23.30	22.77	21.57	21.27	18.72	18.31	17.88	18.67	18.50	18.24	19.62	18.57	—	—	—
Benchmarks
P/OP Ratio, Competitors⁵
Accenture PLC	—	25.29	22.21	21.16	15.44	20.55	18.63	18.87	18.37	15.30	16.75	18.56	19.61	20.51	19.47	17.21	15.57	15.43	15.44	16.28	16.29	15.04	15.66	—	—	—
Waste Management Inc.	—	—	—	19.21	18.57	15.37	19.50	17.07	17.79	16.00	15.02	13.27	13.80	13.25	13.82	13.85	13.64	13.62	13.63	12.96	13.16	12.26	12.05	—	—	—

¹ Data adjusted for splits and stock dividends.

² Q2 2021 Calculation
Operating profit per share = (Operating income_{Q2 2021} + Operating income_{Q1 2021} + Operating income_{Q4 2020} + Operating income_{Q3 2020}) ÷ No. shares of common stock outstanding
= (817,500,000 + 755,400,000 + 544,100,000 + 1,052,100,000) ÷ 427,940,220 = 7.41

³ Closing price as at the filing date of Automatic Data Processing Inc.’s Quarterly or Annual Report.

⁴ Q2 2021 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 166.35 ÷ 7.41 = 22.46

⁵ Click competitor name to see calculations.

Valuation ratio	Description	The company
P/OP ratio	Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit.	Automatic Data Processing Inc.’s P/OP ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Automatic Data Processing Inc., historical P/S calculation (quarterly data)

	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	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014
No. shares of common stock outstanding¹	427,940,220	428,813,999	429,965,405	429,774,376	431,754,252	432,698,089	433,942,837	435,228,237	435,629,656	437,732,499	438,082,756	440,522,324	443,269,657	443,489,730	444,374,752	447,410,344	448,902,582	451,173,217	456,176,951	455,534,803	457,451,131	461,206,624	465,810,128	469,524,030	475,152,112	482,056,801
Selected Financial Data (US$)
Revenues (in thousands)	3,695,700	3,470,700	3,376,800	4,047,800	3,669,500	3,495,700	3,498,700	3,847,400	3,505,900	3,323,200	3,318,600	3,693,000	3,235,400	3,078,800	3,064,800	3,410,800	2,987,300	2,916,900	2,898,200	3,248,600	2,807,000	2,714,000	2,694,500	3,024,300	2,653,600	2,566,100
Sales per share²	34.10	33.97	33.93	34.23	33.61	33.16	32.67	32.16	31.77	31.00	30.42	29.67	28.85	28.28	27.86	27.30	26.85	26.31	25.58	25.17	24.57	24.04	23.48	0.00	0.00	0.00
Share price^1, 3	166.35	157.96	134.77	140.42	171.39	161.88	167.73	160.19	139.84	140.91	134.25	125.36	120.42	114.34	111.39	99.10	95.25	89.33	89.67	86.45	82.15	86.98	80.29	85.41	87.17	78.95
Valuation Ratio
P/S ratio⁴	4.88	4.65	3.97	4.10	5.10	4.88	5.13	4.98	4.40	4.55	4.41	4.22	4.17	4.04	4.00	3.63	3.55	3.40	3.51	3.44	3.34	3.62	3.42	—	—	—
Benchmarks
P/S Ratio, Competitors⁵
Accenture PLC	—	3.75	3.26	3.11	2.26	3.01	2.72	2.73	2.63	2.17	2.35	2.60	2.47	2.60	2.45	2.16	2.17	2.15	2.13	2.24	2.21	2.03	2.11	—	—	—
Waste Management Inc.	—	—	—	3.12	3.06	2.64	3.41	3.11	3.24	2.97	2.81	2.46	2.58	2.44	2.52	2.47	2.33	2.30	2.30	2.11	2.21	1.98	1.90	—	—	—

¹ Data adjusted for splits and stock dividends.

² Q2 2021 Calculation
Sales per share = (Revenues_{Q2 2021} + Revenues_{Q1 2021} + Revenues_{Q4 2020} + Revenues_{Q3 2020}) ÷ No. shares of common stock outstanding
= (3,695,700,000 + 3,470,700,000 + 3,376,800,000 + 4,047,800,000) ÷ 427,940,220 = 34.10

³ Closing price as at the filing date of Automatic Data Processing Inc.’s Quarterly or Annual Report.

⁴ Q2 2021 Calculation
P/S ratio = Share price ÷ Sales per share
= 166.35 ÷ 34.10 = 4.88

⁵ Click competitor name to see calculations.

Valuation ratio	Description	The company
P/S ratio	An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative.	Automatic Data Processing Inc.’s P/S ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Automatic Data Processing Inc., historical P/BV calculation (quarterly data)

	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	Jun 30, 2015	Mar 31, 2015	Dec 31, 2014	Sep 30, 2014
No. shares of common stock outstanding¹	427,940,220	428,813,999	429,965,405	429,774,376	431,754,252	432,698,089	433,942,837	435,228,237	435,629,656	437,732,499	438,082,756	440,522,324	443,269,657	443,489,730	444,374,752	447,410,344	448,902,582	451,173,217	456,176,951	455,534,803	457,451,131	461,206,624	465,810,128	469,524,030	475,152,112	482,056,801
Selected Financial Data (US$)
Stockholders’ equity (in thousands)	5,900,000	5,808,900	5,752,200	5,490,700	5,364,400	5,360,700	5,399,900	5,246,200	4,763,900	4,678,800	3,459,600	4,029,200	3,931,200	3,953,400	3,977,000	4,103,100	3,815,100	4,250,100	4,481,600	4,503,200	4,206,200	4,630,200	4,808,500	5,178,100	5,492,200	5,827,300
Book value per share (BVPS)²	13.79	13.55	13.38	12.78	12.42	12.39	12.44	12.05	10.94	10.69	7.90	9.15	8.87	8.91	8.95	9.17	8.50	9.42	9.82	9.89	9.19	10.04	10.32	11.03	11.56	12.09
Share price^1, 3	166.35	157.96	134.77	140.42	171.39	161.88	167.73	160.19	139.84	140.91	134.25	125.36	120.42	114.34	111.39	99.10	95.25	89.33	89.67	86.45	82.15	86.98	80.29	85.41	87.17	78.95
Valuation Ratio
P/BV ratio⁴	12.07	11.66	10.07	10.99	13.79	13.07	13.48	13.29	12.79	13.18	17.00	13.71	13.58	12.83	12.45	10.81	11.21	9.48	9.13	8.75	8.93	8.66	7.78	7.74	7.54	6.53
Benchmarks
P/BV Ratio, Competitors⁵
Accenture PLC	—	9.38	8.51	8.64	6.53	8.73	8.15	8.50	8.38	7.22	9.44	10.77	9.99	10.78	10.08	9.55	9.72	10.24	9.83	10.76	10.85	11.39	11.33	10.95	10.27	10.73
Waste Management Inc.	—	—	—	6.54	6.71	6.06	7.46	7.09	7.66	6.99	6.68	5.80	6.22	5.89	6.05	6.69	5.99	5.79	5.91	5.28	5.61	4.90	4.61	4.63	4.12	4.11

¹ Data adjusted for splits and stock dividends.

² Q2 2021 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 5,900,000,000 ÷ 427,940,220 = 13.79

³ Closing price as at the filing date of Automatic Data Processing Inc.’s Quarterly or Annual Report.

⁴ Q2 2021 Calculation
P/BV ratio = Share price ÷ BVPS
= 166.35 ÷ 13.79 = 12.07

⁵ Click competitor name to see calculations.

Valuation ratio	Description	The company
P/BV ratio	The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company’s required rate of return and its actual rate of return.	Automatic Data Processing Inc.’s P/BV ratio increased from Q4 2020 to Q1 2021 and from Q1 2021 to Q2 2021.

Automatic Data Processing Inc. (NASDAQ:ADP)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

Historical Valuation Ratios (Summary)

Price to Earnings (P/E)

Price to Operating Profit (P/OP)

Price to Sales (P/S)

Price to Book Value (P/BV)

Automatic Data Processing Inc. (NASDAQ:ADP)

Common Stock Valuation Ratios (Price Multiples)Quarterly Data

Historical Valuation Ratios (Summary)

Price to Earnings (P/E)

Price to Operating Profit (P/OP)

Price to Sales (P/S)

Price to Book Value (P/BV)

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data