Pricing Log in Create free account
Monday 2 November 2026 Export MAN’s income statement to Excel — free account

ManpowerGroup Inc.

MAN Industrials Staffing & Employment Services

ManpowerGroup Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.0 billion, up 0.58% from fiscal 2024.

Revenue
+4.44%
EPS
+87.2%
Free cash flow
−135.7%
Total debt
+20.2%

Quarter to September 2026, against a year earlier

47.60 1.30 +2.81%
Market cap
$2.2B
P/E
18.5×
Fwd P/E
16.0×
Dividend yield
3.03%
F-score
1/9
Altman Z
2.77
Beneish M
−2.35
Dividend safety
16/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 2.58%

Capital & Financial Ratios $m

Size
Market Cap 2,150.00
Revenue ttm 18,923.70
Net income ttm 120.30
Free cash flow ttm 8.00
Net debt Q 329.70
Valuation
P/E 18.52
Forward P/E 16.00
Price / sales 0.12
Forward P/S Powerpack
Price / FCF 279.06
Price / book 1.04
Financial health
Current ratio Q 1.05
Debt / equity Q 0.26 (at or below 0.5: strong)
Interest coverage Q 5.76
Growth
Revenue growth Q +4.44% (above 0%: growing)
Operating income growth Q +23.57% (above 0%: growing)
EPS, this year +21.11% (at or above 15%: strong)
EPS, next year A +30.03% (at or above 15%: strong)
Revenue, next year A +6.51%
EPS, past 5 yrs —
EPS, next 5 yrs A +28.46% (at or above 15%: strong)

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 0.1×, against a ten-year median of 0.2×; over the ten years it ranged from 0.1× in 2026 to 0.4× in 2017.
P/E against its own 10 years 71.13%
10-year low 10-year high
P/S against its own 10 years 11.64%
10-year low 10-year high
P/B against its own 10 years 11.71%
10-year low 10-year high
EV/Sales against its own 10 years 10.10%
10-year low 10-year high
EV/FCF against its own 10 years 99.54%
10-year low 10-year high

Dividends

Yield
3.03%
Annual rate
1.44
Payout ratio
56.9%
Growth, 2016–25
−1.95%/yr
  1. 1.72 ’16
  2. 1.86 ’17 +8%
  3. 2.02 ’18 +9%
  4. 2.18 ’19 +8%
  5. 2.26 ’20 +4%
  6. 2.52 ’21 +12%
  7. 2.72 ’22 +8%
  8. 2.94 ’23 +8%
  9. 3.08 ’24 +5%
  10. 1.44 ’25 −53%
  11. 1.38 ’26e −4%
paid forecast Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 581 509 871 233
Receivables 4,830 4,297 4,770 4,619
Inventory — — — —
Other — — — —
5,572 4,970 5,790 5,057
2023 2024 2025 Q'26
Payables 2,723 2,613 2,721 2,433
ST’ Debt — — — —
Other — — — —
4,800 4,437 5,234 4,806

Compound Annual Growth %

10y 5y 3y
Sales (0.73%) (0.05%) (3.25%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (2.64%) (3.43%) (5.71%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.01 Actual 1.01

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.83 0.92 Beat by 0.09
Q1 FY26 0.50 0.51 Beat by 0.01
Q2 FY26 0.96 0.99 Beat by 0.03
Q3 FY26 1.01 1.01 Met by 0.00
Q4 FY26 1.09 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.05 1.13 0.71 — —
’25 0.12 (1.44) 0.38 0.64 (0.29)
’24 0.81 1.24 0.47 0.47 3.01
’23 1.51 1.29 0.60 (1.73) 1.76
’22 1.68 2.29 2.13 0.95 7.08
’21 1.11 2.02 1.77 2.02 6.91
’20 0.03 (1.10) 0.18 1.33 0.41
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4,510 4,860 4,840 — —
’25 4,090 4,519 4,634 4,713 17,957
’24 4,403 4,521 4,530 4,400 17,854
’23 4,752 4,856 4,676 4,631 18,915
’22 5,143 5,074 4,801 4,809 19,828
’21 4,924 5,277 5,141 5,382 20,724
’20 4,619 3,742 4,585 5,055 18,001
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (126) (3) (8) — —
’25 (153) (190) 60 179 (104)
’24 116 (138) 84 248 309
’23 125 (156) 266 114 348
’22 71 (49) 268 134 423
’21 141 55 188 262 645
’20 181 415 120 221 936
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (135) (8) (16) — —
’25 (167) (207) 45 167 (161)
’24 106 (150) 68 234 258
’23 111 (177) 245 91 270
’22 51 (72) 254 114 348
’21 129 43 174 237 582
’20 172 406 107 210 895
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.4
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 Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 19,654 21,034 21,991 20,864 18,001 20,724 19,828 18,915 17,854 17,957 18,924 (1.0%) 19,127 19,797 20,544 +4.6%
Gross margin, % 16.96 16.57 16.27 16.18 15.69 16.44 18.02 17.75 17.29 16.69 16.05 (0.3) pt
EBT 701 737 755 686 148 568 557 206 257 93 241 (20.1%)
EBT margin, % 3.57 3.51 3.43 3.29 0.82 2.74 2.81 1.09 1.44 0.52 1.28 (3.1) pt
Net income 444 545 557 466 24 382 374 89 145 (13) 120 n/m
Per share, $
Per share, $ Revenue 280.37 313.48 340.42 348.31 310.36 380.26 379.84 379.81 373.51 385.35 403.49 +3.6%
Earnings 6.33 8.13 8.62 7.78 0.41 7.01 7.17 1.78 3.04 (0.29) 2.57 n/m
Cash flow 8.56 5.97 7.48 13.60 16.14 11.83 8.11 6.99 6.47 (2.23) 0.89 n/m
Capex (0.81) (0.82) (1.00) (0.88) (0.72) (1.15) (1.45) (1.57) (1.07) (1.23) (0.72) +4.7%
Free cash flow 7.75 5.16 6.48 12.71 15.43 10.68 6.66 5.42 5.40 (3.46) 0.17 n/m
Book value 34.90 42.59 41.77 46.10 42.30 46.45 47.09 44.86 44.50 44.21 45.64 +2.7%
Shares, m 70 67 65 60 58 55 52 50 48 47 47 (4.4%)
Valuation, ×
Valuation, × P/E 14.28 15.53 7.49 12.46 204.95 13.86 11.80 46.27 19.05 0.00 18.52 34.6
P/S 0.32 0.40 0.19 0.28 0.29 0.26 0.22 0.21 0.15 0.08 0.12 0.2
P/B 2.61 2.98 1.55 2.11 2.13 2.10 1.79 1.76 1.30 0.67 1.04 1.9
EV/Sales 0.33 0.39 0.21 0.28 0.26 0.24 0.24 0.23 0.18 0.09 0.14 0.2
EV/FCF 12.09 23.96 11.04 7.62 5.33 8.63 13.57 16.11 12.32 (9.71) 320.27 10.1
Cash, $m
Cash, $m Operating cash flow 600 401 483 814 936 645 423 348 309 (104) 42 n/m
Capex (57) (55) (65) (53) (42) (63) (76) (78) (51) (57) (34) +0.1%
Free cash flow 543 346 418 762 895 582 348 270 258 (161) 8 n/m
Balance, $m
Balance, $m Working capital 1,474 1,361 1,821 2,043 1,982 642 1,023 772 533 557 251 (10.3%)
Net debt 187 (211) 433 (13) (464) (282) 321 409 420 181 330 (0.4%)
Shareholders’ equity 2,446 2,858 2,699 2,762 2,454 2,532 2,458 2,234 2,127 2,060 2,141 (1.9%)
Returns, %
Returns, % ROA 5.88 6.63 6.40 5.25 0.26 3.99 3.94 0.99 1.70 (0.15) 1.44 (6.0) pt
ROIC 17.69 18.64 15.90 14.67 5.89 16.26 13.08 6.05 7.51 4.19 7.67 (13.5) pt
ROE 17.27 20.57 20.04 17.06 0.91 15.34 14.98 3.79 6.65 (0.64) 5.79 (17.9) pt
People
People Employees 28,000 29,000 30,000 28,000 25,000 30,000 30,900 27,900 26,700 25,400 — (1.1%)
Revenue/emp, $m 0.70 0.73 0.73 0.75 0.72 0.69 0.64 0.68 0.67 0.71 — +0.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

ManpowerGroup 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
RHI Robert Half Inc. $4.5B 38.0× 33.2× −2.44% (below 0%: shrinking) −36.59% (below 0%: shrinking) −2.55% (below 0%: shrinking) 35.47% (4.66%) Compare
KFY Korn/Ferry International $4.2B 14.2× 13.9× +6.86% (above 0%: growing) +5.47% (above 0%: growing) −2.15% (below 0%: shrinking) 25.61% 12.21% 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%
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% Compare
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
Median of peers $1.4B 23.4× 24.3× −0.38% −26.39% −3.98% 20.42% 3.19%

All 18 Staffing & Employment Services stocks →

Pay and ownership Proxy statement filed 23 March 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 13.27m 1.19m 39.60
2024 12.94m 3.26m 73.67
2023 12.71m 9.52m 96.96
2022 13.12m 3.87m 97.50
2021 18.79m 30.99m 110.54

Ownership

Directors and executive officers, together 3.00%
The Vanguard Group 12.95%
BlackRock, Inc. 11.13%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. 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

ManpowerGroup Inc. (MAN) Latest News

29 Oct

Impact 3 · · PR Newswire

28 Oct

Impact 4 · · PR Newswire
Impact 3 · · Zacks

24 Oct

Impact 3 · · Simply Wall St.

22 Oct

Impact 4 · · Zacks

21 Oct

Impact 3 · · PR Newswire

20 Oct

Impact 4 · · Zacks

19 Oct

Impact 3 · · PR Newswire

17 Oct

Impact 4 · · The Motley Fool
Impact 4 · · MarketBeat
Impact 3 · · Simply Wall St.

16 Oct

Impact 4 · · StockStory
Impact 3 · · StockStory

15 Oct

Impact 4 · · Moby
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat transcript
Impact 4 · · InvestorsHub
Impact 4 · · StockStory
Impact 4 · · PR Newswire
Impact 4 · · PR Newswire
Impact 3 · · jsonline.com
Impact 3 · · StockStory
Impact 3 · · Zacks
Impact 3 · · Investing.com
Impact 3 · · Zacks

13 Oct

Impact 4 · · Zacks
Impact 4 · · Simply Wall St.
Impact 3 · · StockStory

12 Oct

Impact 3 · · Zacks

5 Oct

Impact 3 · · Insider Monkey
stockrow.com/MAN · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com