Want to see ADP full AI Analyst Report?
Revenue by Segment
Breaks down revenue across ADP’s business lines (for example payroll processing, HR outsourcing/PEO, benefits administration and related services), showing which units drive growth and profitability. Investors can use this to spot where growth is coming from, which segments carry higher margins, and whether the company’s strategy is shifting toward more valuable services.
Employer Services is clearly the growth engine — steady, seasonal expansion underpinned by record bookings, Lyric enterprise wins and rapid AI adoption that should sustain cross‑sell and margin upside; management’s FY27 5–6% ES guidance assumes only modest retention slip and flat pays‑per‑control, so growth is durable but not accelerating. PEO revenue is rising too, yet an increasing mix of zero‑margin pass‑throughs masks weaker underlying growth and will continue to pressure PEO margins. 'Other' remains a tiny, stable drag. Key watch: pass‑through mix, ES retention and client‑fund yield.
ADP Revenue by Segment
| Date | Other | Employer Services | PEO Services |
|---|---|---|---|
| Sep 30, 2026 | -$2.80M | $3.69B | $1.81B |
| Jun 30, 2026 | -$2.40M | $3.70B | $1.78B |
| Mar 31, 2026 | -$2.90M | $4.04B | $1.91B |
| Dec 31, 2025 | -$3.30M | $3.61B | $1.76B |
| Sep 30, 2025 | -$3.50M | $3.49B | $1.69B |
| Jun 30, 2025 | -$3.00M | $3.47B | $1.66B |
| Mar 31, 2025 | -$3.40M | $3.77B | $1.79B |
| Dec 31, 2024 | -$3.40M | $3.39B | $1.66B |
| Sep 30, 2024 | -$2.80M | $3.26B | $1.57B |
| Jun 30, 2024 | -$2.40M | $3.22B | $1.55B |
| Mar 31, 2024 | -$2.50M | $3.59B | $1.67B |
| Dec 31, 2023 | -$3.30M | $3.13B | $1.55B |
| Sep 30, 2023 | -$3.60M | $3.05B | $1.47B |
| Jun 30, 2023 | -$3.00M | $3.02B | $1.46B |
| Mar 31, 2023 | -$3.30M | $3.34B | $1.59B |
| Dec 31, 2022 | -$4.20M | $2.89B | $1.50B |
| Sep 30, 2022 | -$4.00M | $2.79B | $1.43B |
| Jun 30, 2022 | -$4.30M | $2.72B | $1.41B |
| Mar 31, 2022 | -$2.80M | $3.00B | $1.51B |
| Dec 31, 2021 | -$4.70M | $2.67B | $1.36B |
| Sep 30, 2021 | -$3.30M | $2.57B | $1.26B |
| Jun 30, 2021 | -$3.20M | $2.53B | $1.21B |
| Mar 31, 2021 | -$2.10M | $2.78B | $1.32B |
| Dec 31, 2020 | -$1.00M | $2.51B | $1.19B |
| Sep 30, 2020 | -$2.00M | $2.38B | $1.10B |
| Jun 30, 2020 | -$900.00K | $2.30B | $1.08B |
| Mar 31, 2020 | -$2.20M | $2.81B | $1.24B |
| Dec 31, 2019 | -$2.70M | $2.54B | $1.13B |
| Sep 30, 2019 | -$2.60M | $2.44B | $1.06B |
| Jun 30, 2019 | $1.60M | $2.44B | $1.04B |
| Mar 31, 2019 | -$6.40M | $2.72B | $1.12B |
| Dec 31, 2018 | -$2.70M | $2.45B | $1.04B |
| Sep 30, 2018 | -$2.80M | $2.34B | $974.90M |
| Jun 30, 2018 | -$157.80M | $2.50B | $976.70M |
| Mar 31, 2018 | -$182.20M | $2.80B | $1.07B |
| Dec 31, 2017 | -$147.50M | $2.44B | $945.30M |
| Sep 30, 2017 | -$2.00M | $2.18B | $899.80M |
| Jun 30, 2017 | -$164.20M | $2.34B | $891.60M |
| Mar 31, 2017 | -$190.80M | $2.63B | $974.40M |
| Dec 31, 2016 | -$144.90M | $2.31B | $822.90M |