Automatic Data Processing Inc (ADP)

Debt-to-capital ratio

		Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Long-term debt	US$ in thousands	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Total stockholders’ equity	US$ in thousands	6,188,000	5,855,300	5,078,100	5,348,600	4,547,600	4,626,700	4,319,600	3,472,800	3,509,100	3,693,800	2,986,700	2,576,500	3,225,300	4,192,900	5,049,600	5,350,700	5,670,100	5,673,900	5,900,000	5,808,900
Debt-to-capital ratio		0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

June 30, 2025 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $6,188,000K)
= 0.00

The analysis of Automatic Data Processing Inc.'s debt-to-capital ratio across the specified period indicates a consistently zero value from September 30, 2020, through June 30, 2025. This suggests that the company maintained no reported debt relative to its capital structure throughout this timeframe. A debt-to-capital ratio of zero implies that the company's total capitalization was solely composed of equity, with no leverage from debt financing during these periods. Such a stable and debt-free capital profile highlights a conservative approach to leverage, potentially reflecting strategic financial management focused on maintaining a debt-free balance sheet or a lack of reliance on external debt for funding operations. This consistent zero ratio underscores the company's reliance on internal funds or equity capital rather than debt instruments for financing its assets and operational needs.