04-14-2026, 08:15 PM
Here's another of my spreadsheets. This one is on ADP, the "payroll processor".
Actually, ADP is more than just a payroll processor. It incorporates all facets of human capital management including benefits administration, talent management, human resources management, compliance services, insurances and retirement services and, of course, payroll services. Many of the processes are web-based with local offices for support. This integration gives ADP significant insights into all aspects of their clients' businesses further strengthening their expertise in all these fields.
ADP is international. They have offices and clients on every continent except for Antartica. Below is a graphic from their latest 10K showing their global reach.
Attached to this post is my spreadsheet of their financials since 2007. I've added more graphs including one on the 'Price History' tab which I modeled off FASTgraphs. It's nowhere near as detailed as FASTGraphs, nor is it interactive, but should give you some hint as to it's valuation. As usual, it's a work in progress.
I think this is an apt time to post this spreadsheet as ADP is at its best valuation in many years. Perhaps it will go even lower but these levels seem to be an appropriate entry point.
If there are any questions, find an error, of have problems opening it, please leave a post here. As mentioned in an earlier thread, the spreadsheet is in Open Document Format (LibreOffice) but Microsoft Office should have no problems opening it. The attachment is a zip file as the board software forbids certain formats for security reasons.
Disclosure: ADP has been in my wife's portfolio since mid-2020 and I've been buying during its latest slump.
Actually, ADP is more than just a payroll processor. It incorporates all facets of human capital management including benefits administration, talent management, human resources management, compliance services, insurances and retirement services and, of course, payroll services. Many of the processes are web-based with local offices for support. This integration gives ADP significant insights into all aspects of their clients' businesses further strengthening their expertise in all these fields.
ADP is international. They have offices and clients on every continent except for Antartica. Below is a graphic from their latest 10K showing their global reach.
Attached to this post is my spreadsheet of their financials since 2007. I've added more graphs including one on the 'Price History' tab which I modeled off FASTgraphs. It's nowhere near as detailed as FASTGraphs, nor is it interactive, but should give you some hint as to it's valuation. As usual, it's a work in progress.
I think this is an apt time to post this spreadsheet as ADP is at its best valuation in many years. Perhaps it will go even lower but these levels seem to be an appropriate entry point.
If there are any questions, find an error, of have problems opening it, please leave a post here. As mentioned in an earlier thread, the spreadsheet is in Open Document Format (LibreOffice) but Microsoft Office should have no problems opening it. The attachment is a zip file as the board software forbids certain formats for security reasons.
Disclosure: ADP has been in my wife's portfolio since mid-2020 and I've been buying during its latest slump.