ADP vs LOW Comparison

ADP is a global, cloud-based human capital management provider offering payroll, compliance, talent management, benefits administration, and retirement services. The firm also provides human resources outsourcing services, including PEO offerings, enabling clients to reduce HR overhead. Its broad suite serves customers of all sizes across diverse sectors, and the firm holds large shares in its core markets. As of fiscal 2026, ADP counts over 1.1 million clients and manages payroll for more than 42 million workers across 140 countries.

Lowe's is the second-largest home improvement retailer globally, with 1,761 stores in the US, after the 2023 divestiture of its Canadian locations. The firm's stores offer products and services for home decorating, maintenance, repair, and remodeling, with maintenance and repair accounting for two-thirds of products sold. Lowe's primarily targets retail do-it-yourself (more than 60% of sales) and do-it-for-me customers, but has expanded its professional business clients to more than 30% from less than 20% in the past seven years (set to expand further with growth of FBM locations). We estimate Lowe's captures a high-single-digit share of the domestic home improvement market, based on US Census data and management's market size estimates.