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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. In the quarter to June 2026, revenue grew 7.54%, EPS grew 179.2%, free cash flow grew 96.1% and total debt rose 20.6%, each against the same quarter a year earlier.

52.78 1.58 −2.91%
Market cap
$2.5B
P/E
23.7×
Fwd P/E
12.0×
Dividend yield
2.72%
F-score
1/9
Altman Z
2.77
Beneish M
−2.35
Dividend safety
16/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 2.58%

Capital & Financial Ratios $m

Market Cap 2,530.00
Revenue 18,718.10
Net Income 104.20
Free Cash Flow 69.20
Net Debt 386.70
Current Ratio 1.04
Debt/Equity 0.27 (at or below 0.5: strong)
P/E ratio 23.75
Fwd P/E 12.00
P/S ratio 0.13
P/B ratio 1.18
Past 5Y EPS Growth —
This Y EPS Growth 22.12% (at or above 15%: strong)
Next Y EPS Growth 34.45% (at or above 15%: strong)
Next Y revenue growth 6.71%
Next 5Y EPS Growth 30.17% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.2×, 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 77.86%
10-year low 10-year high
P/S against its own 10 years 12.00%
10-year low 10-year high
P/B against its own 10 years 12.33%
10-year low 10-year high
EV/Sales against its own 10 years 12.04%
10-year low 10-year high
EV/FCF against its own 10 years 95.24%
10-year low 10-year high

Dividends

Payout Ratio 0.65
Annual Dividend Rate 1.44
Annual Dividend Yield 2.72%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.36
0.72
2025 1.44
0.72
0.72
2024 3.08
1.54
1.54
2023 2.94
1.47
1.47
2022 2.72
1.36
1.36
2021 2.52
1.26
1.26
2020 2.26
1.09
1.17
2019 2.18
1.09
1.09
2018 2.02
1.01
1.01
2017 1.86
0.93
0.93
2016 1.72
0.86
0.86
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 581 509 871 181
Receivables 4,830 4,297 4,770 4,734
Inventory — — — —
Other — — — —
5,572 4,970 5,790 5,131
2023 2024 2025 Q'26
Payables 2,723 2,613 2,721 2,594
ST’ Debt — — — —
Other — — — —
4,800 4,437 5,234 4,919

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%)

Revenue $m

Mar Jun Sep Dec Year
’26 4,510 4,860 — — —
’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) — — —
’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) — — —
’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.

EPS $

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
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 57.26 88.79 61.57 63.10 49.57 85.97 64.00 67.35 55.87 26.14

Analyst estimates 2026–2028

Powerpack
High 92.93 131.99 136.93 97.98 100.99 125.07 115.54 92.43 80.03 63.35
People
People Employees 28,000 29,000 30,000 28,000 25,000 30,000 30,900 27,900 26,700 25,400
Revenue/emp, $m 0.70 0.73 0.73 0.75 0.72 0.69 0.64 0.68 0.67 0.71
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
Gross margin, % 16.96 16.57 16.27 16.18 15.69 16.44 18.02 17.75 17.29 16.69
EBT 701 737 755 686 148 568 557 206 257 93
EBT margin, % 3.57 3.51 3.43 3.29 0.82 2.74 2.81 1.09 1.44 0.52
Net income 444 545 557 466 24 382 374 89 145 (13)
Depreciation 85 84 86 77 76 73 85 89 87 86
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
Earnings 6.33 8.13 8.62 7.78 0.41 7.01 7.17 1.78 3.04 (0.29)
Cash flow 8.56 5.97 7.48 13.60 16.14 11.83 8.11 6.99 6.47 (2.23)
Capex (0.81) (0.82) (1.00) (0.88) (0.72) (1.15) (1.45) (1.57) (1.07) (1.23)
Free cash flow 7.75 5.16 6.48 12.71 15.43 10.68 6.66 5.42 5.40 (3.46)
Book value 34.90 42.59 41.77 46.10 42.30 46.45 47.09 44.86 44.50 44.21
Shares, m 70 67 65 60 58 55 52 50 48 47
Valuation, ×
Valuation, × P/E 14.28 15.53 7.49 12.46 204.95 13.86 11.80 46.27 19.05 0.00
P/S 0.32 0.40 0.19 0.28 0.29 0.26 0.22 0.21 0.15 0.08
P/B 2.61 2.98 1.55 2.11 2.13 2.10 1.79 1.76 1.30 0.67
EV/Sales 0.33 0.39 0.21 0.28 0.26 0.24 0.24 0.23 0.18 0.09
EV/FCF 12.09 23.96 11.04 7.62 5.33 8.63 13.57 16.11 12.32 (9.71)
Cash, $m
Cash, $m Operating cash flow 600 401 483 814 936 645 423 348 309 (104)
Capex (57) (55) (65) (53) (42) (63) (76) (78) (51) (57)
Free cash flow 543 346 418 762 895 582 348 270 258 (161)
Balance, $m
Balance, $m Working capital 1,474 1,361 1,821 2,043 1,982 642 1,023 772 533 557
Total debt 786 478 1,025 1,012 1,104 566 960 991 929 1,052
Net debt 187 (211) 433 (13) (464) (282) 321 409 420 181
Shareholders’ equity 2,446 2,858 2,699 2,762 2,454 2,532 2,458 2,234 2,127 2,060
Returns, %
Returns, % ROA 5.88 6.63 6.40 5.25 0.26 3.99 3.94 0.99 1.70 (0.15)
ROIC 17.69 18.64 15.90 14.67 5.89 16.26 13.08 6.05 7.51 4.19
ROE 17.27 20.57 20.04 17.06 0.91 15.34 14.98 3.79 6.65 (0.64)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
KFY Korn/Ferry International $4.0B 13.3× 12.9× +6.86% (above 0%: growing) +5.47% (above 0%: growing) −2.15% (below 0%: shrinking) 25.61% 12.21% Compare
RHI Robert Half Inc. $3.5B 29.5× 23.8× −2.44% (below 0%: shrinking) −36.59% (below 0%: shrinking) −2.55% (below 0%: shrinking) 35.47% (4.66%) Compare
TNET TriNet Group, Inc. $3.1B 17.5× 15.7× −4.43% (below 0%: shrinking) +50.65% (above 0%: growing) +17.54% (above 0%: growing) 20.07% 6.52% Compare
MAN ManpowerGroup Inc. $2.5B 23.7× 12.0× +7.54% (above 0%: growing) n/m +96.09% (above 0%: growing) 16.05% 2.30%
NSP Insperity, Inc. $1.9B — (loss-making) 40.1× +1.69% (above 0%: growing) n/m +147.67% (above 0%: growing) 12.87% 0.36% Compare
KFRC Kforce, Inc. $937.5M 24.2× 19.4× +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. $779.9M 22.8× 21.5× +3.77% (above 0%: growing) −26.39% (below 0%: shrinking) −5.41% (below 0%: shrinking) 20.31% 4.82% Compare
HHR HeadHunter Group PLC Sponsored ADR $761.1M 6.5× 7.9× +4.60% (above 0%: growing) n/m +41.15% (above 0%: growing) 56.09% 51.95% 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
Median of peers $1.4B 20.1× 19.4× +2.73% −10.46% −2.35% 23.02% 5.09%

All 19 Staffing & Employment Services stocks →

ManpowerGroup Inc. (MAN) key facts

  • Concern: ManpowerGroup Inc. reported a net loss of $13.3 million, or a loss of $0.29 per share, for fiscal 2025.
  • Strength: ManpowerGroup Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.0 billion, up 0.58% from fiscal 2024.
  • ManpowerGroup Inc. (MAN) is a Staffing & Employment Services company in the Industrials sector, listed on the New York Stock Exchange.
  • As of October 9, 2026, MAN traded at $52.78, a market capitalization of $2.5 billion.
  • At that price the stock trades at 23.7× trailing-twelve-month earnings and 0.1× sales; its P/E is higher than 78% of its own readings over the past ten years.
  • ManpowerGroup Inc. pays an annual dividend of $1.44 per share, a yield of 2.72%, with a payout ratio of 65.5%.
  • Return on equity was −0.64% and debt-to-equity 0.27.
  • Its Piotroski F-score is 1 out of 9 and its Altman Z-score is 2.77 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

ManpowerGroup Inc. (MAN) Latest News

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