Intrinsic value of Automatic Data Processing, Inc. (ADP)

[per Chepakovich valuation model]

other valuations of ADP

[per Chepakovich valuation model]  See other valuations of ADP stock

Previous Close$203.29
Intrinsic Value
Upside potential
Previous Close
$203.29

VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate (norm.), %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Life of production assets, yrs
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Adjusted assets / Revenue
Based on fiscal year data as of 2020-06-30 and quarterly data as of 2021-03-31.
NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.
  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2020(a)2021202220232024202520262027202820292030203120322033203420352036203720382039204020412042204320442045

INCOME STATEMENT

Revenue growth rate, %3.4NaN
Revenue, $14590NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m11448NaN
Operating income, $m3142NaN
EBITDA, $m4587NaN
Interest expense (income), $mNaN
Earnings before tax, $m3183NaN
Tax expense, $m716NaN
Net income, $m2467NaN

BALANCE SHEET

Cash and short-term investments, $m1909NaN
Total assets, $m39166NaN
Adjusted assets (=assets-cash), $m37257NaN
Average production assets, $m4194NaN
Working capital, $m1438NaN
Total debt, $m2005NaN
Total liabilities, $m33413NaN
Total equity, $m5752NaN
Debt-to-equity ratio0.348NaN
Adjusted equity ratio0.130NaN

CASH FLOW

Net income, $m2467NaN
Depreciation, amort., depletion, $m1445NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m3026NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-143NaN
Free cash flow, $m3170NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m1438
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN