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Kelly Services, Inc.

KELYB Industrials Staffing & Employment Services

Kelly Services, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.3 billion, down 1.87% from fiscal 2024.

Revenue
−5.77%
EPS
−40.4%
Free cash flow
−48.9%
Total debt
+5.11%

Quarter to June 2026, against a year earlier

26.64 1.12 −4.03%
Market cap
$659.7M
P/E
0.0×
Fwd P/E
—
Dividend yield
—
F-score
5/9
Altman Z
2.77
Beneish M
−3.36
Dividend safety
49/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.33
Sold, $m 106.29
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 4 2 — — — — — — — —
Sell 1 1 — — — 1 — — — — — —
Insider Ownership 11.24%

Capital & Financial Ratios $m

Size
Market Cap 659.70
Revenue ttm 4,063.10
Net income ttm (273.40)
Free cash flow ttm 21.50
Net debt Q 53.90
Valuation
P/E 0.00
Forward P/E —
Price / sales 0.23
Forward P/S Powerpack
Price / FCF 43.00
Price / book 0.94
Financial health
Current ratio Q 1.50
Debt / equity Q 0.08 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q −5.77% (below 0%: shrinking)
Operating income growth Q −27.48% (below 0%: shrinking)
EPS, this year —
EPS, next year A —
Revenue, next year A —
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.2×, against a ten-year median of 0.1×; over the ten years it ranged from 0.1× in 2025 to 0.3× in 2026.
P/S against its own 10 years 98.64%
10-year low 10-year high
P/B against its own 10 years 96.18%
10-year low 10-year high
EV/Sales against its own 10 years 99.49%
10-year low 10-year high
EV/FCF against its own 10 years 89.73%
10-year low 10-year high

Dividends raised 3 years running

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2016–23
+4.53%/yr
  1. 0.28 ’16
  2. 0.30 ’17 +9%
  3. 0.30 ’18 +0%
  4. 0.30 ’19 +0%
  5. 0.08 ’20 −75%
  6. 0.10 ’21 +33%
  7. 0.28 ’22 +175%
  8. 0.38 ’23 +36%
paid

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 126 39 33 24
Receivables 1,161 1,256 1,189 1,225
Inventory — — — —
Other 291 — — —
1,627 1,366 1,268 1,297
2023 2024 2025 Q'26
Payables 646 614 631 662
ST’ Debt — — — —
Other 170 — — —
1,020 827 822 867

Compound Annual Growth %

10y 5y 3y
Sales (2.58%) (1.20%) (5.05%)
Cash Flow 17.09% (8.00%) 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.87% (4.09%) (8.00%)

EPS $

Mar Jun Sep Dec Year
’26 (0.17) 0.31 — — —
’25 0.16 0.52 (4.26) (3.69) (7.24)
’24 0.70 0.12 0.02 (0.90) (0.02)
’23 0.29 0.20 0.18 0.31 0.98
’22 (1.23) 0.06 (0.43) (0.02) (1.64)
’21 0.64 0.60 0.87 1.80 3.91
’20 (3.91) 1.04 0.42 0.59 (1.83)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1,041 1,038 — — —
’25 1,165 1,102 935 1,049 4,251
’24 1,045 1,058 1,038 1,191 4,332
’23 1,268 1,217 1,118 1,232 4,836
’22 1,296 1,267 1,168 1,234 4,965
’21 1,206 1,258 1,195 1,250 4,910
’20 1,261 975 1,038 1,241 4,516
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (25) 49 — — —
’25 24 95 (25) 29 123
’24 (25) 58 (20) 15 27
’23 (13) 37 10 43 77
’22 (106) (1) (4) 35 (76)
’21 11 37 (17) 54 85
’20 8 170 38 (30) 186
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (26) 48 — — —
’25 21 93 (28) 28 115
’24 (29) 59 (23) 13 20
’23 (18) 32 7 40 61
’22 (107) 1 (6) 35 (78)
’21 8 35 (19) 50 74
’20 61 165 (3) 3 226
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 5,277 5,374 5,514 5,356 4,516 4,910 4,965 4,836 4,332 4,251 4,063 (2.4%) — — — —
Gross margin, % 17.18 17.75 17.63 18.08 18.33 18.72 20.38 19.88 20.37 20.07 19.67 +2.9 pt
EBT 150 82 (9) 116 (107) 186 (71) 25 (22) (79) (99) n/m
EBT margin, % 2.84 1.52 (0.17) 2.17 (2.36) 3.78 (1.43) 0.51 (0.51) (1.85) (2.43) (4.7) pt
Net income 121 72 23 112 (72) 156 (62) 36 (1) (254) (273) n/m
Per share, $
Per share, $ Revenue 138.50 140.32 142.11 136.97 114.91 124.61 130.33 134.70 122.02 121.11 117.09 (1.5%)
Earnings 3.15 1.84 0.59 2.85 (1.83) 3.93 (1.64) 0.99 (0.02) (7.24) (7.81) n/m
Cash flow 1.05 1.85 1.58 2.61 4.73 2.16 (2.00) 2.14 0.76 3.49 0.78 +14.3%
Capex (0.33) (0.64) (0.66) (0.16) 1.02 (0.28) (0.05) (0.43) (0.19) (0.21) (0.16) (4.8%)
Free cash flow 0.72 1.21 0.92 2.46 5.75 1.87 (2.05) 1.71 0.57 3.28 0.62 +18.4%
Book value 26.56 30.07 29.88 32.34 30.61 33.91 32.92 34.92 34.78 27.82 28.30 +0.5%
Shares, m 38 38 39 39 39 39 38 36 36 35 35 (0.9%)
Valuation, ×
Valuation, × P/E 7.10 15.49 39.30 7.67 0.00 4.34 0.00 21.92 0.00 0.00 0.00 9.6
P/S 0.16 0.20 0.15 0.16 0.18 0.14 0.13 0.16 0.11 0.07 0.23 0.1
P/B 0.84 0.95 0.74 0.67 0.67 0.50 0.52 0.62 0.40 0.31 0.94 0.6
EV/Sales 0.16 0.20 0.15 0.16 0.14 0.13 0.11 0.15 0.16 0.09 0.24 0.1
EV/FCF 30.44 23.14 22.93 9.09 2.88 8.66 (7.16) 11.70 34.58 3.26 45.51 14.0
Cash, $m
Cash, $m Operating cash flow 40 71 61 102 186 85 (76) 77 27 123 27 +13.2%
Capex (13) (25) (26) (6) 40 (11) (2) (15) (7) (7) (6) (5.7%)
Free cash flow 27 46 36 96 226 74 (78) 61 20 115 22 +17.3%
Balance, $m
Balance, $m Working capital 444 458 503 522 624 494 586 607 539 447 430 +0.1%
Net debt (30) (22) (33) 21 (153) (31) (98) (126) 200 69 54 n/m
Shareholders’ equity 1,012 1,152 1,160 1,265 1,203 1,336 1,254 1,254 1,235 977 982 (0.4%)
Returns, %
Returns, % ROA 5.96 3.20 0.98 4.64 (2.86) 5.67 (2.25) 1.39 (0.02) (10.41) (11.41) (16.4) pt
ROIC 4.02 4.61 4.85 3.98 (5.57) 2.33 0.80 1.35 (0.66) (4.17) (5.54) (8.2) pt
ROE 12.39 6.52 1.98 9.18 (5.84) 12.18 (4.83) 2.90 (0.05) (22.98) (24.32) (35.4) pt
People
People Employees 1,100 1,100 1,100 440,000 370,000 350,000 300,000 3,700 4,200 3,600 — +14.1%
Revenue/emp, $m 4.80 4.89 5.01 0.01 0.01 0.01 0.02 1.31 1.03 1.18 — (14.4%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Kelly Services, Inc. vs peers in Staffing & Employment Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
TNET TriNet Group, Inc. $2.9B 17.1× 20.0× −4.43% (below 0%: shrinking) +50.65% (above 0%: growing) +17.54% (above 0%: growing) 20.07% 6.52% Compare
MAN ManpowerGroup Inc. $2.2B 18.0× 16.0× +4.44% (above 0%: growing) +86.44% (above 0%: growing) −135.70% (below 0%: shrinking) 15.85% 1.70% Compare
NSP Insperity, Inc. $1.9B — (loss-making) 48.9× +1.69% (above 0%: growing) n/m +147.67% (above 0%: growing) 12.87% 0.36% Compare
KFRC Kforce, Inc. $1.0B 27.1× 21.0× +4.49% (above 0%: growing) +23.73% (above 0%: growing) −145.85% (below 0%: shrinking) 28.47% 5.37% Compare
BBSI Barrett Business Services, Inc. $788.4M 23.4× 24.3× +3.77% (above 0%: growing) −26.39% (below 0%: shrinking) −5.41% (below 0%: shrinking) 20.31% 4.82% Compare
KELYB Kelly Services, Inc. $659.7M — (loss-making) — −5.77% (below 0%: shrinking) −40.38% (below 0%: shrinking) −48.93% (below 0%: shrinking) 20.42% 1.55%
KELYA Kelly Services, Inc. $610.2M — (loss-making) 25.8× −5.77% (below 0%: shrinking) −40.38% (below 0%: shrinking) −48.93% (below 0%: shrinking) 20.42% 1.55% Compare
TBI TrueBlue, Inc. $297.4M — (loss-making) — (loss-making) +11.78% (above 0%: growing) n/m −49.23% (below 0%: shrinking) 20.67% (0.26%) Compare
HQI HireQuest, Inc. $226.7M 27.6× 24.0× +6.04% (above 0%: growing) +150.00% (above 0%: growing) −37.48% (below 0%: shrinking) 100.00% 41.28% Compare
Median of peers $909.2M 23.4× 24.0× +4.11% +37.19% −43.21% 20.37% 3.26%

All 18 Staffing & Employment Services stocks →

Pay and ownership Proxy statement filed 13 April 2026

Ownership

Directors and executive officers, together 0.00%
Hunt Equity Opportunities, LLC (“Hunt”) 92.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Kelly Services, Inc. (KELYB) Latest News

29 Oct

Impact 4 · · GlobeNewswire

27 Oct

Impact 3 · · GlobeNewswire

13 Oct

Impact 3 · · GlobeNewswire

6 Oct

Impact 4 · · GlobeNewswire

5 Oct

Impact 3 · · Insider Monkey

30 Sep

Impact 4 · · GlobeNewswire

24 Sep

Impact 4 ·

19 Aug

Impact 3 ·

6 Aug

Impact 3 ·
Impact 3 ·

6 Jul

Impact 3 ·

7 May

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

9 Apr

Impact 4 · · Insider Monkey

12 Mar

Impact 4 · · Simply Wall St.

25 Feb

Impact 4 · · Simply Wall St.

12 Feb

Impact 4 · · GlobeNewswire
Impact 3 · · GuruFocus.com transcript
Impact 3 · · Zacks
Impact 3 · · Associated Press Finance

11 Feb

Impact 3 · · GlobeNewswire

10 Feb

Impact 4 · · Simply Wall St.Simply Wall St.Simply Wall St.

5 Feb

Impact 3 · · GlobeNewswire

30 Jan

Impact 4 · · GlobeNewswire

27 Jan

Impact 3 · · Simply Wall St.

12 Jan

Impact 3 · · GlobeNewswire

11 Jan

Impact 3 · · Simply Wall St.

6 Jan

Impact 3 · · Insider Monkey

22 Dec

Impact 3 · · GlobeNewswireHR DiveCFO.comFortune

17 Dec

Impact 4 · · GlobeNewswire
stockrow.com/KELYB · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com