Automatic Data Processing, Inc.
ADP
position
long
Leon Cooperman
Thesis
ADP is one of the greatest success stories in American industry, having grown from a market cap of $10 million to $60 billion. The company earns a 40% return on equity and has a debt-free balance sheet, making it a strong investment despite its current trading multiple of 27x-30x earnings.
Did it work?
inconclusive
confidence: low
Without specific price performance data or a defined time horizon for the thesis, it's difficult to assess whether the investment thesis has played out. While the fundamentals of ADP, such as its strong return on equity and debt-free balance sheet, suggest it could be a solid long-term investment, the lack of time elapsed and performance metrics leaves the outcome uncertain.
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