(MAN) ManpowerGroup - Overview
Sector: Industrials | Industry: Staffing & Employment Services | Exchange: NYSE (USA) | Market Cap: 1.366m USD | Total Return: -22.3% in 12m
Avg Turnover: 24.5M
EPS Trend: -99.0%
Qual. Beats: 0
Rev. Trend: -76.0%
Qual. Beats: 2
Warnings
High Debt/EBITDA (7.3) with thin interest coverage (1.8)
High Debt while negative Cash Flow
Tailwinds
No distinct edge detected
ManpowerGroup Inc. (NYSE: MAN) is a global workforce solutions provider operating under three primary brands: Manpower, Experis, and Talent Solutions. Headquartered in Milwaukee, Wisconsin, the firm provides recruitment, professional staffing, and human resources outsourcing across the Americas, Europe, and the Asia Pacific regions.
The company operates within the Human Resource & Employment Services sub-industry, a sector characterized by high cyclicality as demand for contingent staffing typically fluctuates with global GDP growth and employment cycles. ManpowerGroup’s business model emphasizes a mix of temporary staffing for industrial and administrative roles alongside specialized IT project services and permanent recruitment.
To evaluate how these cyclical trends affect long-term valuation, investors may find it useful to review the detailed metrics on ValueRay. The firm also manages complex talent acquisition through its TAPFIN managed service provider solution and recruitment process outsourcing (RPO) services.
- Global labor market demand fluctuations impact temporary staffing and recruitment volumes
- European economic growth trends dictate significant portion of total geographic revenue
- Corporate IT spending levels drive high-margin Experis professional resourcing demand
- Currency exchange rate volatility affects reported earnings from extensive international operations
- Labor law changes and regulatory shifts influence workforce management service costs
| Net Income: -16.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -1.39 > 1.0 |
| NWC/Revenue: 3.05% < 20% (prev 2.91%; Δ 0.14% < -1%) |
| CFO/TA -0.01 > 3% & CFO -77.2m > Net Income -16.4m |
| Net Debt (1.71b) to EBITDA (235.2m): 7.25 < 3 |
| Current Ratio: 1.12 > 1.5 & < 3 |
| Outstanding Shares: last quarter (47.1m) vs 12m ago -0.42% < -2% |
| Gross Margin: 16.49% > 18% (prev 0.17%; Δ 1.63k% > 0.5%) |
| Asset Turnover: 223.7% > 50% (prev 218.2%; Δ 5.48% > 0%) |
| Interest Coverage Ratio: 1.75 > 6 (EBITDA TTM 235.2m / Interest Expense TTM 85.8m) |
| A: 0.07 (Total Current Assets 5.06b - Total Current Liabilities 4.50b) / Total Assets 8.39b |
| B: 0.45 (Retained Earnings 3.73b / Total Assets 8.39b) |
| C: 0.02 (EBIT TTM 150.2m / Avg Total Assets 8.21b) |
| D: 0.53 (Book Value of Equity 3.32b / Total Liabilities 6.33b) |
| Altman-Z'' = 2.56 = A |
| DSRI: 1.06 (Receivables 4.63b/4.17b, Revenue 18.4b/17.5b) |
| GMI: 1.04 (GM 16.49% / 17.22%) |
| AQI: 0.98 (AQ_t 0.34 / AQ_t-1 0.35) |
| SGI: 1.05 (Revenue 18.4b / 17.5b) |
| TATA: 0.01 (NI -16.4m - CFO -77.2m) / TA 8.39b) |
| Beneish M = -2.91 (Cap -4..+1) = A |
As of May 30, 2026, the stock is trading at USD 31.63 with a total of 992,825 shares traded.
Over the past week, the price has changed by +9.86%,
over one month by +3.10%,
over three months by +13.09% and
over the past year by -22.30%.
ManpowerGroup has received a consensus analysts rating of 3.17. Therefore, it is recommended to hold MAN.
- StrongBuy: 1
- Buy: 1
- Hold: 9
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 35.9 | 13.6% |
P/E Forward = 7.728
P/S = 0.0743
P/B = 0.6615
P/EG = 0.943
Revenue TTM = 18.4b USD
EBIT TTM = 150.2m USD
EBITDA TTM = 235.2m USD
Long Term Debt = 1.03b USD (from longTermDebt, last quarter)
Short Term Debt = 217.0m USD (from shortTermDebt, last quarter)
Debt = 1.93b USD (from shortLongTermDebtTotal, last quarter) + Leases 392.2m
Net Debt = 1.71b USD (calculated: Debt 1.93b - CCE 224.9m)
Enterprise Value = 3.07b USD (1.37b + Debt 1.93b - CCE 224.9m)
Interest Coverage Ratio = 1.75 (Ebit TTM 150.2m / Interest Expense TTM 85.8m)
EV/FCF = -23.67x (Enterprise Value 3.07b / FCF TTM -129.8m)
FCF Yield = -4.23% (FCF TTM -129.8m / Enterprise Value 3.07b)
FCF Margin = -0.71% (FCF TTM -129.8m / Revenue TTM 18.4b)
Net Margin = -0.09% (Net Income TTM -16.4m / Revenue TTM 18.4b)
Gross Margin = 16.49% ((Revenue TTM 18.4b - Cost of Revenue TTM 15.3b) / Revenue TTM)
Gross Margin QoQ = 16.03% (prev 16.27%)
Tobins Q-Ratio = 0.37 (Enterprise Value 3.07b / Total Assets 8.39b)
Interest Expense / Debt = 4.44% (Interest Expense 85.8m / Debt 1.93b)
Taxrate = 21.0% (US default 21%)
NOPAT = 118.7m (EBIT 150.2m * (1 - 21.00%))
Current Ratio = 1.12 (Total Current Assets 5.06b / Total Current Liabilities 4.50b)
Debt / Equity = 0.94 (Debt 1.93b / totalStockholderEquity, last quarter 2.06b)
Debt / EBITDA = 7.25 (Net Debt 1.71b / EBITDA 235.2m)
Debt / FCF = -13.14 (negative FCF - burning cash) (Net Debt 1.71b / FCF TTM -129.8m)
Total Stockholder Equity = 2.03b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.20% (Net Income -16.4m / Total Assets 8.39b)
RoE = -0.81% (Net Income TTM -16.4m / Total Stockholder Equity 2.03b)
RoCE = 4.90% (EBIT 150.2m / Capital Employed (Equity 2.03b + L.T.Debt 1.03b))
RoIC = 2.90% (NOPAT 118.7m / Invested Capital 4.10b)
WACC = 5.36% (E(1.37b)/V(3.30b) * Re(7.97%) + D(1.93b)/V(3.30b) * Rd(4.44%) * (1-Tc(0.21)))
Discount Rate = 7.97% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -71.91 | Cagr: -1.47%
[DCF] Fair Price = unknown (Cash Flow -129.8m)
EPS Correlation: -99.01 | EPS CAGR: -31.13% | SUE: 0.25 | # QB: 0
Revenue Correlation: -75.97 | Revenue CAGR: -2.68% | SUE: 1.28 | # QB: 2
EPS current Quarter (2026-06-30): EPS=0.95 | Chg30d=+1.97% | Revisions=+0% | Analysts=10
EPS next Quarter (2026-09-30): EPS=1.06 | Chg30d=+1.06% | Revisions=-23% | Analysts=10
EPS current Year (2026-12-31): EPS=3.68 | Chg30d=+0.30% | Revisions=+7% | GrowthEPS=+24.1% | GrowthRev=+5.3%
EPS next Year (2027-12-31): EPS=4.79 | Chg30d=-1.62% | Revisions=+0% | GrowthEPS=+30.0% | GrowthRev=+3.4%
[Analyst] Revisions Ratio: -23%