Global hiring outlook strengthens for Q4 as workforce transformation drives demand for new skills at ManpowerGroup. Strengthening hiring trends directly support ManpowerGroup core staffing revenue and investor outlook.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2028 | ‡‡‡‡‡ |
|
| 2027 | ‡‡‡‡‡ |
|
| 2026 | 1.36 |
—
|
| 2025 | 1.44 |
—
—
|
| 2024 | 3.08 |
—
—
|
| 2023 | 2.94 |
—
—
|
| 2022 | 2.72 |
—
—
|
| 2021 | 2.52 |
—
—
|
| 2020 | 2.26 |
—
—
|
| 2019 | 2.18 |
—
—
|
| 2018 | 2.02 |
—
—
|
| 2017 | 1.86 |
—
—
|
| 2016 | 1.72 |
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 581.30 | 509.40 | 871.00 | 180.60 |
| Receivables | 4,830.00 | 4,297.20 | 4,770.30 | 4,733.80 |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 5,572.10 | 4,970.30 | 5,790.40 | 5,131.40 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 2,723.00 | 2,612.90 | 2,721.10 | 2,593.70 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 4,799.70 | 4,437.10 | 5,233.60 | 4,919.40 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 4,510.40 | 4,860.20 | — | — |
—
|
| ’25 | 4,090.30 | 4,519.30 | 4,634.40 | 4,713.10 |
17,957.10
|
| ’24 | 4,403.30 | 4,520.70 | 4,530.20 | 4,399.70 |
17,853.90
|
| ’23 | 4,752.30 | 4,856.10 | 4,675.60 | 4,630.50 |
18,914.50
|
| ’22 | 5,143.30 | 5,074.10 | 4,800.90 | 4,809.20 |
19,827.50
|
| ’21 | 4,924.40 | 5,277.10 | 5,140.60 | 5,382.30 |
20,724.40
|
| ’20 | 4,619.10 | 3,742.20 | 4,584.80 | 5,054.90 |
18,001.00
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (126.30) | (2.70) | — | — |
—
|
| ’25 | (153.20) | (189.60) | 59.80 | 178.90 |
(104.10)
|
| ’24 | 116.00 | (137.90) | 83.50 | 247.60 |
309.20
|
| ’23 | 124.60 | (155.80) | 265.70 | 113.70 |
348.20
|
| ’22 | 70.60 | (49.30) | 267.90 | 134.10 |
423.30
|
| ’21 | 140.90 | 54.50 | 187.50 | 261.90 |
644.80
|
| ’20 | 181.00 | 415.10 | 119.60 | 220.70 |
936.40
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (135.00) | (8.10) | — | — |
—
|
| ’25 | (166.80) | (206.90) | 45.10 | 167.20 |
(161.40)
|
| ’24 | 106.30 | (149.80) | 68.10 | 233.50 |
258.10
|
| ’23 | 111.40 | (177.10) | 245.10 | 90.60 |
270.00
|
| ’22 | 51.20 | (71.60) | 253.70 | 114.40 |
347.70
|
| ’21 | 128.90 | 42.80 | 173.70 | 236.80 |
582.20
|
| ’20 | 171.90 | 406.10 | 107.20 | 209.50 |
894.70
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.05 | 1.13 | — | — |
—
|
| ’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
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 64.00 | 67.35 | 55.87 | 26.14 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 115.54 | 92.43 | 80.03 | 63.35 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 30,900 | 27,900 | 26,700 | 25,400 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.64 | 0.68 | 0.67 | 0.71 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 19,827.50 | 18,914.50 | 17,853.90 | 17,957.10 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18.02% | 17.75% | 17.29% | 16.69% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 557.10 | 205.90 | 256.80 | 93.40 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.81% | 1.09% | 1.44% | 0.52% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 373.80 | 88.80 | 145.10 | (13.30) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 84.60 | 88.60 | 86.60 | 86.00 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 379.84 | 379.81 | 373.51 | 385.35 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 7.17 | 1.78 | 3.04 | (0.29) | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.11 | 6.99 | 6.47 | (2.23) | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.45) | (1.57) | (1.07) | (1.23) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.66 | 5.42 | 5.40 | (3.46) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 47.09 | 44.86 | 44.50 | 44.21 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 52.20 | 49.80 | 47.80 | 46.60 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.80 | 46.27 | 19.05 | 0.00 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.22 | 0.21 | 0.15 | 0.08 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.79 | 1.76 | 1.30 | 0.67 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.24 | 0.24 | 0.18 | 0.09 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.95 | 16.54 | 12.77 | (10.42) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 423.30 | 348.20 | 309.20 | (104.10) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (75.60) | (78.20) | (51.10) | (57.30) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 347.70 | 270.00 | 258.10 | (161.40) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,022.70 | 772.40 | 533.20 | 556.80 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,091.90 | 990.50 | 929.40 | 1,052.10 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 452.90 | 409.20 | 420.00 | 181.10 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,458.10 | 2,234.10 | 2,126.90 | 2,060.30 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.94% | 0.99% | 1.70% | (0.15%) | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.49% | 6.05% | 7.51% | 4.19% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 14.98% | 3.79% | 6.65% | (0.64%) | — | — | — |
ROE
|
ManpowerGroup Inc. (MAN), a global leader in workforce solutions, has endured a decade of macroeconomic turbulence—including COVID-19 lockdowns, inflation, rising rates, and geopolitical disruptions like the Russia-Ukraine conflict—resulting in volatile revenues that peaked at $21.99 billion in 2018 before declining 14% to $17.85 billion by 2024. Profitability faced amplified pressure, with EBT margins shrinking to 1.44%, EPS dropping to $3.04, and ROE falling below pre-pandemic levels, driven by wage inflation outpacing billing rates and subdued hiring demand.
Despite these headwinds, MAN’s balance sheet remains robust, with reduced debt, steady book value per share around $44-$47, and consistent dividends supported by free cash flow. Trading at depressed multiples—PE at 19x, PS at 0.15x, and EV/FCF at 12.8x—the stock embeds deep pessimism, lagging fundamentals amid sluggish GDP growth.
Analysts forecast a rebound, with revenues growing at a 4% CAGR through 2027, EPS surging to $4.82 by then, and average price targets implying 40% upside (up to 75% at the high end). Catalysts include anticipated Fed rate cuts boosting hiring by 10-15%, AI-driven efficiencies, and demographic tailwinds, positioning MAN to capture share in a stabilizing cycle—though near-term risks like 2025 losses loom.
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