Automatic Data Processing, Inc. (ADP)
Automatic Data Processing provides payroll processing and human-capital management software.
Industrials stock comparison
ADP vs SWK: how the two businesses compare
- Bigger business: ADP, with $20.6B of yearly revenue, about 1.4× SWK's $15.1B.
- More profitable: ADP keeps 20 cents of each sales dollar as profit, against 3 cents at SWK.
- More cash from each sale: ADP turns 24 cents of each sales dollar into operating cash flow, against 6 cents at SWK.
From each company's latest annual SEC filing. Fiscal years can end on different dates.
Automatic Data Processing (ADP) is the larger business by reported revenue: $20.6B in its fiscal year ended Jun 2025, about 1.4× SWK's $15.1B (fiscal year ended Jan 2026). ADP's net margin was 19.8% and SWK's 2.7%. The SEC classifies them differently (Services-Computer Processing & Data Preparation; Cutlery, Handtools & General Hardware); what connects them is shared exposure to the Economic trends research theme, not a common industry.
Figures come from each company's own SEC filings. This page compares the businesses; it is not a price target or a verdict.
- Sector
- Industrials
- SEC industry
- Different
- Separate classifications
- Fiscal year ends
- Different
- ADP June 30 · SWK January 2
- Reviewed
- Aug 5, 2026
ADP vs SWK: quick comparison
| Company fact | ADP | SWK |
|---|---|---|
| Company | Automatic Data Processing, Inc. | Stanley Black & Decker, Inc. |
| Exchange | NASDAQ | NYSE |
| SEC industry | Services-Computer Processing & Data Preparation | Cutlery, Handtools & General Hardware |
| Fiscal year-end | June 30 | January 2 |
| Latest annual filing | 10-K · 2026-08-05 | 10-K · 2026-02-24 |
ADP vs SWK: audited financials
- Scale: ADP's $20.6B of revenue is about 1.4× SWK's $15.1B.
- Net margin: ADP kept 19.8% of revenue as net income versus 2.7% at SWK.
- Cash conversion: operating cash flow equalled ADP 24.0% of revenue, or 1.21× net income; SWK 6.4% of revenue, or 2.42× net income. A ratio well above 1× usually reflects non-cash charges or working-capital release; well below 1× can reflect working-capital build or non-cash gains.
- Periods: the fiscal years end about 6 months apart (2025-06-30 for ADP, 2026-01-03 for SWK), so each figure reflects somewhat different demand and cost conditions.
| Metric | ADP | SWK |
|---|---|---|
| Revenue | $20.6B2024-07-01 to 2025-06-30 · SEC filing | $15.1B2024-12-29 to 2026-01-03 · SEC filing |
| Net income | $4.1B2024-07-01 to 2025-06-30 · SEC filing | $402M2024-12-29 to 2026-01-03 · SEC filing |
| Operating cash flow | $4.9B2024-07-01 to 2025-06-30 · SEC filing | $971M2024-12-29 to 2026-01-03 · SEC filing |
| Diluted EPS | $9.982024-07-01 to 2025-06-30 · SEC filing | $2.652024-12-29 to 2026-01-03 · SEC filing |
| Net margin | 19.8%2024-07-01 to 2025-06-30 · SEC filing | 2.7%2024-12-29 to 2026-01-03 · SEC filing |
ADP: FY ending 2025-06-30 · SWK: FY ending 2026-01-03. Figures as tagged in each issuer's SEC XBRL filing; fiscal calendars may not align.
Where ADP and SWK overlap, and where they don't
Overlap
- Shared research theme: Economic trends.
Differences
- Different SEC industries: ADP files as Services-Computer Processing & Data Preparation; SWK as Cutlery, Handtools & General Hardware.
- Offset fiscal calendars: ADP's year ends June 30 and SWK's January 2, about 6 months apart.
- Only SWK maps to Tariffs & trade.
- Profitability: net margin of 19.8% for ADP versus 2.7% for SWK.
Overlap is drawn from SEC classifications and Yield Theory research themes. It is not evidence that the companies sell to the same customers or compete product for product.
Stanley Black & Decker, Inc. (SWK)
Stanley Black & Decker makes power tools, hand tools, and industrial fastening products.
What moves each company
Company-specific drivers maintained by Yield Theory. Use them to decide which filing deserves deeper work; they are not predictions.
What moves ADP
We have not yet published a company-specific driver list for ADP. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-08-05.
What moves SWK
We have not yet published a company-specific driver list for SWK. The primary source is Item 1 (Business) and Item 1A (Risk Factors) of its 10-K filed 2026-02-24.
The investment question
You now know ADP reports about 1.4× SWK's revenue, and ADP keeps more of each dollar as net income. Those are the facts. The investment question is what each share price already assumes about their exposure to economic trends, and which evidence in the next filings would prove that assumption wrong.
Members-only research
What members are reading this month
Sep 22, 2026
Meta jumped 11%. What must happen next to justify the price?A member research report on Meta’s AI rally: Muse, subscription economics, the cash-flow burden, legal costs and the earnings assumptions behind the new price.
Sep 9, 2026
Seagate: More Terabytes, Better EconomicsA retrospective case study of Seagate’s capacity-density thesis as of January 28, 2026, separating known qualifications and financials from an uncertain next phase.
The thesis, the numbers behind it, and what would break it. Full access is $39 a month.
Read the full researchSEC filing comparison and disclosure evidence
Start with primary filings because fiscal calendars and accounting presentation can make superficially similar quarters incomparable. ADP's fiscal year ends June 30, while SWK's ends January 2. Normalize the reporting periods before comparing growth, margins, capital intensity, or guidance.
The current verified House and Senate snapshot contains 17 matched transaction rows for ADP and 1 matched transaction row for SWK. These delayed, range-based disclosures can identify a filing to inspect; they do not establish motive, conviction, or a real-time trading signal.
ADP primary filings
SWK primary filings
What this comparison cannot tell you
This page does not contain licensed live prices, a valuation model, earnings estimates, portfolio constraints, or a forecast of future returns. SEC classifications can be broad, company descriptions can lag strategic change, and the latest annual filing may predate a material acquisition or divestiture. Read subsequent quarterly and current reports before making a decision.
A stronger business is not automatically the better stock. Starting valuation, expectations, capital structure, cyclicality, dilution, and the probability of each thesis determine the investment outcome. Use this comparison to frame the work, then verify the numbers in the linked filings and current company disclosures.
More comparisons involving ADP or SWK
ADP vs SWK FAQs
Are ADP and SWK direct competitors?
Not necessarily. Automatic Data Processing files as Services-Computer Processing & Data Preparation and Stanley Black & Decker as Cutlery, Handtools & General Hardware. The pair is compared because both map to the Economic trends research theme, not because the filings show head-to-head competition.
Is ADP or SWK the bigger company by revenue?
Automatic Data Processing (ADP) is the larger business by reported revenue: $20.6B in its fiscal year ended Jun 2025, about 1.4× SWK's $15.1B (fiscal year ended Jan 2026). ADP's net margin was 19.8% and SWK's 2.7%. The SEC classifies them differently (Services-Computer Processing & Data Preparation; Cutlery, Handtools & General Hardware); what connects them is shared exposure to the Economic trends research theme, not a common industry. Each figure is the annual amount tagged in the company's own SEC XBRL filing; market value depends on live prices, which this page does not publish.
Which is better, ADP or SWK?
There is no context-free winner. Compare the operating exposures, filing evidence, valuation, balance sheet, and risks against the specific thesis you are testing. This page deliberately does not turn a static profile into a buy or sell recommendation.
Does this ADP vs SWK comparison include live prices?
No. Yield Theory does not republish unlicensed real-time market data. The financial figures on this page are the audited annual numbers Automatic Data Processing, Inc. and Stanley Black & Decker, Inc. tagged in their SEC XBRL filings. Use a regulated broker or licensed quote provider for current prices and valuation multiples.
Where does the company information come from?
Company classifications, fiscal year-ends, and filing links come from the SEC EDGAR submissions API snapshot refreshed 2026-10-03. Business summaries and research themes are maintained by Yield Theory.
Data snapshot: SEC EDGAR submissions API, refreshed 2026-10-03. Independent educational research; not investment advice.
Which business differences matter to the investment thesis?
ADP vs SWK compares reported results. The reports below show how we connect operating evidence to an investment thesis, its assumptions, catalysts, and risks. $39/month or $249/year.
Members-only research
$39/mo or $249/yr · cancel future renewals anytime · sources included