ManpowerGroup Inc. MAN
ManpowerGroup Inc. is a global leader in innovative workforce solutions. Through our network of approximately 2,100 offices in more than 70 countries and territories, we put millions of people to work each year with our global, multinational and local clients across all major industry segments. Our strong and distinct brands provide specialized solutions that drive organizations forward, accelerate individual success and help build more sustainable communities. We power the future of work.
By offering a comprehensive range of workforce solutions and services, we help companies improve strategy, quality, and efficiency, increase productivity and reduce costs across their workforce to achieve their business goals. ManpowerGroup's offerings of innovative workforce solutions and services include:
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.96B | $17.85B | $18.91B | $19.83B | $20.72B | $18.00B | $20.86B | $21.99B | $21.03B | $19.65B |
| Cost of revenue | $14.96B | $14.77B | $15.56B | $16.26B | $17.32B | $15.18B | $17.49B | $18.41B | $17.55B | $16.32B |
| Gross profit | $3.00B | $3.09B | $3.36B | $3.57B | $3.41B | $2.82B | $3.38B | $3.58B | $3.48B | $3.33B |
| SG&A | $2.85B | $2.78B | $3.10B | $2.99B | $2.82B | $2.64B | $2.73B | $2.78B | $2.70B | $2.59B |
| Total operating expenses | — | — | — | — | — | — | — | $110.0M | $108.4M | $92.8M |
| Operating income | $150.1M | $306.0M | $255.8M | $581.7M | $585.4M | $187.6M | $644.9M | $796.7M | $789.2M | $745.5M |
| Interest expense | $95.4M | $90.0M | $79.7M | $46.9M | $38.8M | $43.3M | $44.4M | $47.0M | $49.4M | $49.5M |
| Pre-tax income | $93.4M | $256.8M | $205.9M | $557.1M | $568.1M | $147.7M | $685.5M | $754.7M | $737.3M | $701.3M |
| Income tax | $106.7M | $111.7M | $117.1M | $183.3M | $185.7M | $123.9M | $219.8M | $198.0M | $191.9M | $257.6M |
| Net income | -$13.3M | $145.1M | $88.8M | $373.8M | $382.4M | $23.8M | $465.7M | $556.7M | $545.4M | $443.7M |
| EPS, basic | -0.29 | 3.04 | 1.78 | 7.17 | 7.01 | 0.41 | 7.78 | 8.62 | 8.13 | 6.33 |
| EPS, diluted | -0.29 | 3.01 | 1.76 | 7.08 | 6.91 | 0.41 | 7.72 | 8.56 | 8.04 | 6.27 |
| Shares, diluted (wtd. avg.) | $46.6M | $48.3M | $50.4M | $52.8M | $55.4M | $58.3M | $60.3M | $65.1M | $67.9M | $70.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $871.0M | $509.4M | $581.3M | $639.0M | $847.8M | $1.57B | $1.03B | $591.9M | $689.0M | $598.5M |
| Receivables | $4.77B | $4.30B | $4.83B | $5.14B | $5.45B | $4.91B | $5.27B | $5.28B | $5.37B | $4.41B |
| Total current assets | $5.79B | $4.97B | $5.57B | $5.93B | $6.42B | $6.67B | $6.48B | $6.00B | $6.17B | $5.13B |
| Property, plant and equipment | $123.2M | $118.4M | $129.9M | $112.2M | $116.8M | $135.1M | $143.3M | $152.6M | $157.7M | $147.3M |
| Goodwill | $1.54B | $1.56B | $1.59B | $1.63B | $1.72B | $1.23B | $1.26B | $1.30B | $1.34B | $1.24B |
| Other intangibles | $430.1M | $486.1M | $519.6M | $549.5M | $583.6M | $248.6M | $268.6M | $246.3M | $284.0M | $294.4M |
| Total assets | $9.16B | $8.20B | $8.83B | $9.13B | $9.83B | $9.33B | $9.22B | $8.52B | $8.88B | $7.57B |
| Short-term debt | $590.4M | $2.4M | $3.1M | $5.1M | $535.8M | $0 | $61.0M | $200.0K | $469.4M | $39.8M |
| Total current liabilities | $5.23B | $4.44B | $4.80B | $4.91B | $5.78B | $4.68B | $4.44B | $4.18B | $4.81B | $3.66B |
| Long-term debt | $1.05B | $929.4M | $990.5M | $959.9M | $565.7M | $1.10B | $1.01B | $1.03B | $478.1M | $785.6M |
| Retained earnings | $3.73B | $3.81B | $3.81B | $3.87B | $3.63B | $3.39B | $3.49B | $3.16B | $2.71B | $2.29B |
| Total equity | $2.06B | $2.13B | $2.23B | $2.46B | $2.53B | $2.45B | $2.76B | $2.70B | $2.86B | $2.45B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$104.1M | $309.2M | $348.2M | $423.3M | $644.8M | $936.4M | $814.4M | $483.1M | $400.9M | $600.0M |
| Depreciation and amortisation | $86.0M | $86.6M | $88.6M | $84.6M | $73.4M | $76.3M | $77.2M | $85.8M | $84.4M | $85.3M |
| Stock-based compensation | $26.3M | $27.3M | $28.7M | $37.6M | $36.8M | $24.2M | $26.3M | $27.8M | $28.7M | $27.1M |
| Capital expenditure | $57.3M | $51.1M | $78.2M | $75.6M | $64.2M | $50.7M | $52.9M | $64.7M | $54.7M | $56.9M |
| Investing cash flow | -$59.2M | -$68.2M | -$74.1M | -$85.3M | -$987.0M | -$42.4M | -$16.2M | -$54.9M | -$74.5M | -$110.4M |
| Financing cash flow | $485.5M | -$282.4M | -$349.5M | -$482.1M | -$283.7M | -$435.2M | -$337.4M | -$484.9M | -$319.3M | -$597.6M |
| Dividends paid | $66.7M | $145.8M | $144.3M | $139.9M | $136.6M | $129.1M | $129.3M | $127.3M | $123.7M | $118.4M |
| Buybacks | $38.2M | $140.0M | $179.8M | $270.0M | $210.0M | $264.7M | $203.0M | $500.7M | $203.9M | $482.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-064113.
Others in SIC 7363
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| RHI | ROBERT HALF INC. | $4.36B | 32.0x | -7.2% |
| NSP | INSPERITY, INC. | $1.98B | — | 3.5% |
| EFOR | Everforth Inc | $1.33B | 12.5x | -2.9% |
| AMN | AMN HEALTHCARE SERVICES INC | $1.31B | — | -8.5% |
| KFRC | KFORCE INC | $976.6M | 27.8x | -5.4% |
| BBSI | BARRETT BUSINESS SERVICES INC | $821.8M | 16.3x | 8.4% |
| KELYA | KELLY SERVICES INC | $585.0M | — | -1.9% |
| TBI | TrueBlue, Inc. | $299.9M | — | 3.1% |