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Automatic Data Processing vs Toast: ADP and TOST compared
Automatic Data Processing is the larger company: $5.5B of revenue in its latest quarter (Q1 FY27) against $2.0B for Toast (Q3 2026). Toast is growing faster (+21% against +6% a year earlier). Automatic Data Processing is more profitable, with an operating margin of 23.9% against 8.3%.
Where the money goes: ADP and TOST
Automatic Data Processing (ADP) · Q1 FY27
Automatic Data Processing, Q1 FY27: revenue $5.5B (+6% year over year), operating margin 23.9%, net earnings $1.1B, operating cash flow $651M. The chart follows the revenue to costs, profit and cash.
Toast (TOST) · Q3 2026
Toast, Q3 2026: revenue $2.0B (+21% year over year), operating margin 8.3%, net earnings $169M, operating cash flow $198M. The chart follows the revenue to costs, profit and cash.
| Automatic Data Processing (ADP) | Toast (TOST) | |
|---|---|---|
| Latest quarter | Q1 FY27 | Q3 2026 |
| Revenue | $5.5B | $2.0B |
| Revenue growth, Y/Y | +6% | +21% |
| Gross margin | — | 27.4% |
| Operating margin | 23.9% | 8.3% |
| Net earnings | $1.1B | $169M |
| Net margin | 20.5% | 8.5% |
| Operating cash flow | $651M | $198M |
| Free cash flow | $598M | $181M |
| Market value | $120.6B | $20.7B |
| P/E | 26.9× | 37.6× |
| Analysts’ mean target | $297.93 | $38.81 |
Where the revenue comes from
Automatic Data Processing
- HCM: $2.3B (41%)
- PEO zero-margin benefits pass-throughs: $1.2B (22%)
- HRO, excluding PEO zero-margin benefits pass-throughs: $953M (17%)
- Global: $724M (13%)
Toast
- Financial technology solutions: $1.6B (82%)
- Subscription services: $317M (16%)
- Hardware and professional services: $45.0M (2%)
Questions
Which is bigger, Automatic Data Processing or Toast?
Automatic Data Processing is the larger company: $5.5B of revenue in its latest quarter (Q1 FY27) against $2.0B for Toast (Q3 2026).
Is Automatic Data Processing or Toast growing faster?
Toast is growing faster (+21% against +6% a year earlier).
Which is more profitable, Automatic Data Processing or Toast?
Automatic Data Processing is more profitable, with an operating margin of 23.9% against 8.3%.
More: Automatic Data Processing earnings · how Automatic Data Processing makes money · Toast earnings · how Toast makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.