Automatic Data Processing (ADP) Stock Price vs Net Income
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From March 31, 2020 to March 31, 2021, ADP's net income declined 2.3% from $2.53 billion to $2.47 billion. Over the same one-year period, the stock price rose 37.9%, from $136.68 to $188.47. This divergence between declining earnings and rising stock price represents valuation expansion, meaning investors paid a higher multiple of earnings in March 2021 than they did in March 2020. The stock has continued climbing to $227.44 as of June 2, 2026, while the most recent reported net income remains $2.47 billion as of March 31, 2021. Across the full 46-year window from March 1980 to June 2026, ADP's stock price and net income show a strong 0.90 correlation, though the recent year-over-year period demonstrates that correlation does not guarantee synchronized movement in any given year.
Trailing-12-month Net Income was $2.5B as of 2021-03-31, -2.3% year over year. The stock moved +38% over the same window ($136.68 -> $188.47). The stock is now more richly valued relative to Net Income than a year ago (multiple expansion).
Latest close: 228.87 USD (2026-06-02).
Net Income | recent SEC reports
| Report date | Net Income | Period |
|---|
| 2021-03-31 | 2.5B USD | Q3 10-Q |
| 2020-12-31 | 2.5B USD | Q2 10-Q |
| 2020-09-30 | 2.5B USD | Q1 10-Q |
| 2020-06-30 | 2.5B USD | FY 10-K |
| 2020-03-31 | 2.5B USD | Q3 10-Q |
| 2019-12-31 | 2.5B USD | Q2 10-Q |
| 2019-09-30 | 2.4B USD | Q1 10-Q |
| 2019-06-30 | 2.3B USD | FY 10-K |
Sources: autario.com/data/stock-adp-automatic-data-processing-daily-prices · autario.com/data/automatic-data-processing-net-income-sec-filings | data verified and hosted on autario.com.