ADP
Automatic Data Processing, Inc.
ADP has the edge over BA overall, supported by lower modeled downside and stronger valuation.
BA
The Boeing Company
BA offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
ADP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Strong |
ADP's profitability, cash flow and balance sheet are currently strong, and its revenue is stable.
BA Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Under pressure |
BA's profitability is currently healthy, and its revenue and cash flow are stable, but its balance sheet is under pressure.
ADP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 24x | $308 | — |
| Cheap | 25x | $284 | -7.9% |
| Current | 27x | $308 | — |
| Fair | 30x | $337 | +9.4% |
| Expensive | 33x | $375 | +22% |
Historical ranges are pointers, not guarantees.
ADP's PE is in its cheap range at 27x. If earnings grow as analysts expect, today's price would be 24x next year's earnings.
BA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 18x | $172 | — |
| Cheap | 51x | $496 | +189% |
| Fair | 82x | $790 | +360% |
| Expensive | 91x | $876 | +411% |
Historical ranges are pointers, not guarantees.
BA has the edge over ADP in the historical PE scenario, which offers more potential upside but is not a forecast.
ADP Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Moderate | |
| High |
Analysts expect earnings and revenue growth for ADP, with profitability improving.
BA Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Returning to profit | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect BA to return to profit, with revenue growing. However, they disagree widely on these estimates.
ADP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $12.63 | +12% |
| Q3 2026 | $11.28 | +11% |
| Q2 2026 | $10.94 | +9.6% |
| Q1 2026 | $10.72 | +9.8% |
| Q4 2025 | $10.40 | +8.6% |
| Q3 2025 | $10.13 | +8.2% |
| Q2 2025 | $9.98 | +9.7% |
| Q1 2025 | $9.76 | +8.8% |
| Q4 2024 | $9.58 | +11% |
ADP has the edge over BA on earnings, with more consistent year-over-year improvement.
BA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $9.66 | +$23.38 |
| Q2 2026 | $2.78 | +$19.33 |
| Q1 2026 | $2.53 | +$20.49 |
| Q4 2025 | $2.48 | +$20.84 |
| Q3 2025 | -$13.72 | -$0.83 |
| Q2 2025 | -$16.55 | -$10.93 |
| Q1 2025 | -$17.96 | -$14.42 |
| Q4 2024 | -$18.36 | -$14.69 |
BA has returned to profit: it earned $9.66 per share over the past year, after losing money the year before.
ADP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $5.5B | +6.1% |
| Q2 2026 | $5.5B | +6.8% |
| Q1 2026 | $5.9B | +7% |
| Q4 2025 | $5.4B | +6.2% |
| Q3 2025 | $5.2B | +7.1% |
| Q2 2025 | $5.1B | +7.5% |
| Q1 2025 | $5.6B | +5.7% |
| Q4 2024 | $5B | +8.1% |
ADP's revenue has grown year over year every quarter since late 2020: $5.5B last quarter, up 6.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 24% | +0.8 points |
| Q2 2026 | 21% | -0.5 points |
| Q1 2026 | 29% | +0.7 points |
| Q4 2025 | 24% | +0.7 points |
| Q3 2025 | 23% | -0.3 points |
| Q2 2025 | 21% | +0.4 points |
| Q1 2025 | 28% | -0.2 points |
| Q4 2024 | 23% | +0.1 points |
ADP has the edge over BA on profitability, with a higher operating margin.
BA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $24.2B | +3.9% |
| Q2 2026 | $24.6B | +8% |
| Q1 2026 | $22.2B | +14% |
| Q4 2025 | $23.9B | +57% |
| Q3 2025 | $23.3B | +30% |
| Q2 2025 | $22.7B | +35% |
| Q1 2025 | $19.5B | +18% |
| Q4 2024 | $15.2B | -31% |
BA's revenue has grown year over year for seven quarters in a row: $24.2B last quarter, up 3.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 1.5% | +22 points |
| Q2 2026 | 0.6% | +1.4 points |
| Q1 2026 | 2% | -0.3 points |
| Q4 2025 | 37% | +61 points |
| Q3 2025 | -21% | +12 points |
| Q2 2025 | -0.8% | +5.7 points |
| Q1 2025 | 2.4% | +2.9 points |
| Q4 2024 | -25% | -26 points |
BA's operating margin was 1.5% last quarter, up 22 points from the same quarter a year ago.
ADP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $598.3M | +0.5% |
| Q2 2026 | $1.4B | -3.6% |
| Q1 2026 | $2.2B | +47% |
| Q4 2025 | $1.1B | -0.4% |
| Q3 2025 | $595.6M | -22% |
| Q2 2025 | $1.4B | +13% |
| Q1 2025 | $1.5B | +3.5% |
| Q4 2024 | $1.1B | +14% |
ADP's free cash flow has been positive every quarter for seven years: $5.2B over the past year, up 14% from the year before.
BA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $464M | +95% |
| Q2 2026 | $631M | +$831M |
| Q1 2026 | -$1.5B | +$836M |
| Q4 2025 | $375M | +$4.5B |
| Q3 2025 | $238M | +$2.2B |
| Q2 2025 | -$200M | +$4.1B |
| Q1 2025 | -$2.3B | +$1.6B |
| Q4 2024 | -$4.1B | -239% |
BA has the edge over ADP on cash flow, with more consistent year-over-year improvement.
ADP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.4% | -5.7M shares |
| 1 year | -2.2% | -8.9M shares |
| 3 years | -3.9% | -16M shares |
| 5 years | -6.2% | -26.2M shares |
| Available history | -8.2% | -35.7M shares |
ADP has the edge over BA on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $758.8M |
| Q2 2026 | $620.1M |
| Q1 2026 | $581.4M |
| Q4 2025 | $515.8M |
| Q3 2025 | $366M |
| Q2 2025 | $324M |
| Q1 2025 | $311.6M |
| Q4 2024 | $272.3M |
ADP spent $2.5B buying back its own shares over the past year, up 94% from the year before.
BA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +2.1M shares |
| 1 year | +4.3% | +32.8M shares |
| 3 years | +31% | +186M shares |
| 5 years | +35% | +204M shares |
| Available history | +40% | +227M shares |
BA has 793M diluted shares, up 4.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
ADP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.3x | Very low |
| Q2 2026 | 0.1x | Very low |
| Q1 2026 | 0.1x | Very low |
| Q4 2025 | 0.3x | Very low |
| Q3 2025 | 0.3x | Very low |
| Q2 2025 | 0.1x | Very low |
| Q1 2025 | 0.2x | Very low |
| Q4 2024 | 0.3x | Very low |
ADP has the edge over BA on leverage, with a lower net debt burden relative to earnings.
BA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Elevated |
| Q2 2026 | 5.7x | High |
| Q1 2026 | 6.0x | High |
| Q4 2025 | 6.9x | High |
| Q2 2024 | 361.8x | High |
| Q1 2024 | 36.1x | High |
| Q4 2023 | 36.4x | High |
| Q3 2023 | 96.1x | High |
BA's net debt is about 3.0 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
ADP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.3 | Neutral |
| Stochastic | 84.1 | Overbought |
ADP's weekly RSI is 67 (neutral) and its Stochastic is 84 (overbought).
BA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.1 | Neutral |
| Stochastic | 9.6 | Oversold |
BA's weekly RSI is 31 (neutral) and its Stochastic is 10 (oversold).
ADP PE vs Industrials Sector
| Metric | ADP | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 24x | 13% above |
| PE % | 27 | 58 | 31 pts below |
ADP is trading at 27x earnings, a 13% premium to the Industrials sector's median of 24x.
BA PE vs Industrials Sector
| Metric | BA | Sector median | Relative |
|---|---|---|---|
| PE | 18x | 24x | 26% below |
| PE % | 0 | 58 | 58 pts below |
BA has the edge over ADP on valuation relative to its sector.
ADP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $286.3 | 7.6% above |
| 20 week MA | $273.8 | 12% above |
| 50 week MA | $246.0 | 25% above |
| 100 week MA | $271.2 | 14% above |
| 200 week MA | $258.0 | 19% above |
ADP has the edge over BA on trend strength, trading above more of its moving averages.
BA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $184.6 | 7.1% below |
| 20 week MA | $203.8 | 16% below |
| 50 week MA | $215.5 | 20% below |
| 100 week MA | $205.9 | 17% below |
| 200 week MA | $200.6 | 14% below |
BA is in a downtrend: it's below all five of its weekly moving averages, and 14% below its 200-week average.
ADP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $170.8 | $176.6 | +3.4% |
| 2021 | $176.6 | $242.0 | +37% |
| 2022 | $242.0 | $240.9 | -0.4% |
| 2023 | $240.9 | $233.0 | -3.3% |
| 2024 | $233.0 | $296.2 | +27% |
| 2025 | $296.2 | $258.8 | -13% |
| 2026 YTD | $258.8 | $307.9 | +19% |
ADP has the edge over BA on returns for 2026, with the stronger performance.
BA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $330.1 | $217.2 | -34% |
| 2021 | $217.2 | $204.2 | -6% |
| 2022 | $204.2 | $189.1 | -7.4% |
| 2023 | $189.1 | $260.7 | +38% |
| 2024 | $260.7 | $180.7 | -31% |
| 2025 | $180.7 | $216.4 | +20% |
| 2026 YTD | $216.4 | $171.6 | -21% |
BA has finished lower in four of the last six years. It's down 21% so far in 2026.