Matching slides 78,138
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52,111-52,140 of 78,138

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The slide uses a matrix structure to map market segments against operational and competitive metrics.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor Beat · Problem Statement1 hit
23
The chart uses a combination of trend lines and discrete data points to illustrate market share erosion.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor Beat · Expose Contradiction1 hit
39
The slide uses a bar chart to contrast 'Operational Revenue' with adjusted figures to expose accounting-driven growth inflation.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor Loop · Cost Of Inaction1 hit
40
The slide uses a 'before-after' or 'contradiction' framing to show that sales force expansion is outpacing bookings growth.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor Loop · Cost Of Inaction1 hit
41
The slide uses a stacked bar chart to decompose gross bookings into three components: Employer Services, PEO Net Bookings, and PEO Pass-Through Bookings, highlighting the increasing share of pass-throughs.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
43
Uses a red box to highlight negative CAGR in Mid-Market and Enterprise segments.Automatic Data Processing (ADP) (ADP) · William Ackman
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45
Uses a 'VS' comparison structure to juxtapose executive quotes against empirical market data.Automatic Data Processing (ADP) (ADP) · William Ackman
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46
The slide uses a red circle to highlight Ultimate's superior retention rate as a counter-example to ADP's service model claims.Automatic Data Processing (ADP) (ADP) · William Ackman
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47
The chart uses a bridge methodology to decompose revenue growth between FY2009 and FY2017.Automatic Data Processing (ADP) (ADP) · William Ackman
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52
The chart uses a waterfall structure to bridge from reported margin to adjusted net operational profit margin.Automatic Data Processing (ADP) (ADP) · William Ackman
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54
The chart uses a stacked bar approach to distinguish between operational revenue and PEO pass-through costs.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
55
The chart uses a color-coded legend for different market segments (SMB, Enterprise, PEO, HCM, Major Accounts).Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
57
The chart uses a stacked bar approach to differentiate between business segments (e.g., PEO, SMB, Enterprise) and highlights the 'Recurring Median' vs ADP's performance.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
67
Uses a stacked bar chart to illustrate the discrepancy in implied profitability.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor Loop · Mece Breakdown1 hit
68
The slide uses a 'build-up' logic to justify a target margin range based on competitor benchmarks.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor Loop · Mece Breakdown1 hit
75
Includes a sensitivity table for operating profit margins based on lower margin revenue.Automatic Data Processing (ADP) (ADP) · William Ackman
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76
Includes a bar chart showing EBITDA margins for specific international regions and supporting management quotes.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
99
The slide uses a line chart to contrast reported gross metrics with adjusted metrics to reveal a hidden decline in performance.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
101
The chart highlights ADP's significantly lower sales productivity compared to peers like Ultimate, Insperity, and Trinet.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
104
The chart uses a dual-axis approach to show both absolute dollar spend (bars) and percentage of revenue (squares).Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
105
Uses a stacked bar chart to compare 2011A vs 2017A spend composition.Automatic Data Processing (ADP) (ADP) · William Ackman
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118
The slide uses a color-coded legend to categorize peers by market segment (SMB, Mid-Market, Enterprise, Beyond Payroll).Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
119
The slide uses a red border to highlight the 'Last' rank for ADP across all three categories.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
129
The slide uses a waterfall chart to bridge FY 2017 EPS to FY 2022 EPS.Automatic Data Processing (ADP) (ADP) · William Ackman
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130
The chart uses a waterfall-bridge format to show the components of EPS growth.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
133
The slide uses a before-after framing to demonstrate the value creation potential of operational improvements post-divestiture.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
154
The chart highlights ADP's lower revenue per employee compared to peers, suggesting an efficiency gap.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
156
Includes a quote from Jan Siegmund regarding ADP's margin profile.Automatic Data Processing (ADP) (ADP) · William Ackman
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160
The chart highlights the underperformance of ADP relative to Ultimate Software prior to Pershing Square's involvement.Automatic Data Processing (ADP) (ADP) · William Ackman
Activist deck Activist investor 1 hit
03
The slide uses a callout box to highlight the primary takeaway.Starbucks (SBUX) · Pershing Square Capital Management
Conference presentation Activist investor 1 hit