Automatic Data Processing Inc (ADP) is undervalued and Sap SE ADR (SAP) is undervalued.
Against our estimates of intrinsic value, ADP trades at the wider discount: a margin of safety of +44%, against +38% for SAP.
Values as of the 22 Sept 2026 close.
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $484.32; the price of $269.64 is 44% below that value.
Leak Score 95/100 on 9 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $339.66; the price of $210.68 is 38% below that value.
Leak Score 100/100 on 3 of 12 signals
| Metric | ADP | SAP |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $269.64 | $210.68 |
| Intrinsic value | $484.32 | $339.66 |
| Margin of safety | +44% | +38% |
| Leak Score | 95/100 (9/12) | 100/100 (3/12) |
| Market cap | $107.1B | $243.2B |
| Revenue growth, 5 years | 7.9% | 5.9% |
| Operating margin | 26.4% | 28.4% |
| Net margin | 20.1% | 20.9% |
| Return on equity | 72.2% | 18.7% |
| Debt to equity | 0.91 | 0.22 |
| P/E | 24.6x | 26.5x |
| Forward P/E | 20.1x | 22.3x |
| P/B | 17.8x | 4.8x |
| Dividend yield | 2.6% | 1.4% |