Investor Presentaiton
We Expect Margin Expansion of ~200 bps From FY17-FY20F
Operational Margin Expansion of ~500 bps From FY17-FY20F
Adjusted EBIT Margin (1) (%)
20%
Contributors to ADP's Margin Expansion
0.5-1.5%
25-26%
0.0-0.5%
0.5-1.5%
0.0-1.0%
3.5-4.5%
FY18F down 50-25 bps
FY19F-20F-200 bps expansion
(3.5-4.5%)
21-22%
FY17
Operating
Leverage
Platform
Migrations
Service
Alignment
Initiative
Productivity
Initiatives
FY20F
(2)
Client Funds
FY17-20F
Pass-Through
Drag
FY20F
Note:
1.
Adjusted EBIT is a non-GAAP metric. Refer to the Additional Materials for a reconciliation to the closest GAAP metric.
2. Excludes the expected impact of growth in client funds and pass-through drag to forecasted adjusted EBIT.
Copyright 2017 ADP, LLC.
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