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Hays PLC (GB:HAS)
LSE:HAS
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Hays plc (HAS) AI Stock Analysis

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GB:HAS

Hays plc

(LSE:HAS)

Rating:51Neutral
Price Target:
67.00p
▲(4.12%Upside)
Hays plc is currently facing significant financial challenges with declining revenue and profitability, which is reflected in a low valuation score. The technical indicators suggest a bearish trend with negative momentum. While the company shows some strategic efforts to improve, such as appointing BNP Paribas as a Joint Corporate Broker, these are not enough to offset the impact of current market conditions and financial performance issues.
Positive Factors
Enterprise Segment Performance
The Enterprise segment has continued to perform well at +10%, with good momentum in contract wins, retention, and increased fill rate, which management considers as winning market share.
Productivity Improvement
Productivity was up 5% in 3Q25, marking the 6th consecutive quarter of improvement, which is seen as a way to rebuild profitability over time.
Negative Factors
AI and Job Market
Hays' larger exposure to white-collar and entry-level positions could make it more vulnerable to disruptions from AI-related job destruction.
Financial Forecast
There is a downside risk to consensus operating profit forecast over the next two years, with a significant difference in expected profit and net fees.
Market Outlook
Staffing data in Germany and the UK has recently been weak, impacting Hays' short-term outlook negatively.
Restructuring Costs
Management expects to book £15-20m of exceptional costs on the P&L in 2H25 due to necessary restructuring in France.

Hays plc (HAS) vs. iShares MSCI United Kingdom ETF (EWC)

Hays plc Business Overview & Revenue Model

Company DescriptionHays plc operates as a recruitment company in Australia, New Zealand, Germany, the United Kingdom, Ireland, and internationally. The company offers permanent, temporary, and contractor recruitment services, such as qualified, professional, and skilled recruitment to public and private sectors. It also specializes in offering recruitment services in the areas of accountancy and finance, construction and property, technology, life sciences, sales and marketing, banking and capital markets, contact centers, education, engineering and manufacturing, executive, financial services, health and social care, human resources, legal, office support, energy, oil and gas, procurement, retail, resources and mining, and telecoms. Hays plc was founded in 1968 and is headquartered in London, the United Kingdom.
How the Company Makes MoneyHays plc generates revenue primarily through the fees it earns from placing candidates in permanent and temporary job roles. For permanent placements, Hays typically charges a fee that is a percentage of the candidate's first-year salary. For temporary staffing, the company charges clients an hourly or daily rate for the duration of the contract, which includes a markup over the candidate's pay rate. Additionally, Hays earns income from its RPO and MSP services, which involve managing all or part of a client's recruitment process. The company's earnings are also influenced by economic conditions, labor market trends, and the demand for skilled professionals in various industries.

Hays plc Financial Statement Overview

Summary
Hays plc faces challenges with declining revenue and profitability, as seen in the negative net profit and revenue growth rates. The balance sheet shows moderate leverage but declining equity, while the cash flow statement reflects decreased free cash flow. Overall, the financial position is stable but shows signs of weakening, particularly in profitability and cash flow generation.
Income Statement
58
Neutral
Hays plc has experienced a decline in revenue from 2023 to 2024, with a decrease from 7.58 billion to 6.95 billion, resulting in a negative revenue growth rate of -8.39%. The gross profit margin stands at 16.02%, while the net profit margin is negative at -0.07%, indicating challenges in profitability. Both EBIT and EBITDA margins have decreased significantly compared to the previous year, highlighting reduced operational efficiency.
Balance Sheet
65
Positive
The company's debt-to-equity ratio is 0.44, suggesting a moderate level of leverage. The return on equity is negative at -0.88%, reflecting a decline in profitability. The equity ratio is 31.36%, indicating a reasonable proportion of the company's assets are financed by equity. However, the decrease in stockholders' equity from the previous year is a concern.
Cash Flow
72
Positive
Free cash flow has decreased from 134.9 million to 72.4 million, resulting in a negative free cash flow growth rate of -46.33%. The operating cash flow to net income ratio is negative due to the negative net income, which raises concerns about cash generation relative to profitability. However, the company still maintains positive operating cash flow.
BreakdownTTMJun 2024Jun 2023Jun 2022Jun 2021Jun 2020
Income Statement
Total Revenue6.78B6.95B7.58B6.59B5.65B5.93B
Gross Profit205.30M292.60M426.80M421.40M292.30M346.30M
EBITDA52.00M87.10M218.90M232.90M116.70M150.30M
Net Income-14.20M-4.90M138.30M154.20M61.50M47.50M
Balance Sheet
Total Assets1.72B1.78B1.90B2.08B1.87B1.94B
Cash, Cash Equivalents and Short-Term Investments154.00M121.80M145.60M296.20M410.60M484.50M
Total Debt291.00M244.30M199.80M185.10M201.10M228.70M
Total Liabilities1.23B1.22B1.23B1.28B1.00B1.09B
Stockholders Equity483.10M557.60M670.30M796.20M871.80M853.40M
Cash Flow
Free Cash Flow80.40M72.40M134.90M146.80M-13.70M327.00M
Operating Cash Flow93.10M95.80M164.00M171.20M5.10M352.80M
Investing Cash Flow-18.40M-20.20M-30.10M-24.40M-18.80M-25.80M
Financing Cash Flow-64.10M-98.80M-280.70M-269.40M-56.40M28.30M

Hays plc Technical Analysis

Technical Analysis Sentiment
Negative
Last Price64.35
Price Trends
50DMA
69.00
Negative
100DMA
72.06
Negative
200DMA
74.27
Negative
Market Momentum
MACD
-1.30
Positive
RSI
42.21
Neutral
STOCH
21.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HAS, the sentiment is Negative. The current price of 64.35 is below the 20-day moving average (MA) of 66.93, below the 50-day MA of 69.00, and below the 200-day MA of 74.27, indicating a bearish trend. The MACD of -1.30 indicates Positive momentum. The RSI at 42.21 is Neutral, neither overbought nor oversold. The STOCH value of 21.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:HAS.

Hays plc Peers Comparison

Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
72
Outperform
£300.57M6.3721.08%439.87%-10.24%-11.60%
71
Outperform
£58.43M8.52%5.83%19.29%
67
Neutral
£857.14M29.9610.00%630.43%-13.50%-62.86%
65
Neutral
$11.08B15.705.19%2.15%3.13%-24.94%
60
Neutral
£25.69M42.893.66%397.73%4.14%-45.24%
55
Neutral
£116.40M29.69-3.96%1018.95%-16.16%-145.46%
51
Neutral
£1.02B-2.60%466.20%-6.95%-117.14%
* Industrials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
GB:HAS
Hays plc
65.05
-25.98
-28.54%
GB:GATC
Gattaca
88.00
0.66
0.76%
GB:PAGE
PageGroup
279.80
-128.47
-31.47%
GB:RWA
Robert Walters
169.50
-167.12
-49.65%
GB:STAF
Staffline
49.40
7.90
19.04%
GB:STEM
SThree plc
238.50
-154.10
-39.25%

Hays plc Corporate Events

Business Operations and StrategyRegulatory Filings and Compliance
Schroders Plc Increases Stake in Hays plc
Neutral
Jul 23, 2025

Hays plc has announced a change in its major holdings, with Schroders Plc acquiring a significant stake in the company. This acquisition has resulted in Schroders holding 5.000211% of the voting rights in Hays, marking a slight increase from their previous position. The acquisition reflects strategic positioning in the recruitment industry, potentially impacting Hays’ market dynamics and stakeholder interests.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.04 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Other
BlackRock Reduces Stake in Hays plc Below 5%
Neutral
Jul 14, 2025

Hays plc, a UK-based company, has been notified of a change in major holdings by BlackRock, Inc., a US-based investment management firm. BlackRock’s voting rights in Hays plc have fallen below the 5% threshold as of July 3, 2025, indicating a reduction in their stake. This change may impact Hays plc’s shareholder dynamics and influence within the company, as BlackRock is a significant global investor.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.04 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Business Operations and Strategy
Hays plc Appoints BNP Paribas as Joint Corporate Broker
Positive
Jul 11, 2025

Hays plc has appointed BNP Paribas as its Joint Corporate Broker alongside UBS, effective immediately. This strategic move is expected to enhance Hays’ financial operations and strengthen its market positioning. The appointment reflects Hays’ ongoing efforts to capitalize on structural growth opportunities in the global recruitment market, driven by its diversified and international business model.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.04 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Executive/Board Changes
Hays plc Announces Board Committee Restructuring
Neutral
Jul 4, 2025

Hays plc has announced changes to its Board Committees, with several members stepping down from the Audit and Risk Committee and the Remuneration Committee. These changes are expected to impact the company’s governance structure, potentially influencing its strategic decisions and stakeholder relations.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.04 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Regulatory Filings and Compliance
Hays plc Announces Updated Share Capital and Voting Rights
Neutral
Jul 1, 2025

Hays plc has announced its issued share capital as of June 30, 2025, comprising 1,600,433,092 Ordinary shares, with 8,507,593 held in treasury, resulting in total voting rights of 1,591,925,499. This figure is crucial for shareholders to determine their notification requirements under the FCA’s Disclosure Guidance and Transparency Rules, impacting how they manage their interests in the company.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.04 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
BlackRock Increases Stake in Hays plc to Over 5%
Neutral
Jun 24, 2025

Hays plc has been notified of a change in major holdings by BlackRock, Inc., which has increased its voting rights in the company to 5.16%. This change in holdings indicates a strengthened position for BlackRock in Hays plc, potentially influencing future company decisions and impacting stakeholders.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.15 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Business Operations and Strategy
Hays plc Announces Share Purchase by Non-Executive Chair
Neutral
Jun 20, 2025

Hays plc has announced a transaction involving the on-market purchase of ordinary shares by Michael Findlay, the Non-Executive Chair. This transaction, conducted on the London Stock Exchange, reflects a strategic move within the company’s leadership, potentially impacting stakeholder perceptions and the company’s market positioning.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.15 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Hays plc Announces Change in BlackRock’s Voting Rights
Neutral
Jun 19, 2025

Hays plc has announced a change in its shareholder structure, with BlackRock, Inc. adjusting its voting rights to below 5% as of June 17, 2025. This adjustment in holdings may influence Hays plc’s shareholder dynamics and potentially impact its governance and strategic decisions, although the exact implications for stakeholders remain unspecified.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.15 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Hays plc Faces Challenging Recruitment Market with Declining Profits
Negative
Jun 19, 2025

Hays plc anticipates a pre-exceptional operating profit of approximately £45 million for FY25, largely due to challenging conditions in the permanent recruitment markets. The company reports a 9% year-on-year decline in group net fees for Q4, with significant drops in permanent and temporary recruitment. Regional performance varies, with Germany and the UK experiencing notable declines, while North America shows some growth. Despite these challenges, Hays remains committed to its strategic initiatives aimed at improving net fee productivity and back-office efficiency, which are expected to drive profit recovery when market conditions improve.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.15 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Other
Hays plc Executive Share Transaction Announcement
Neutral
Jun 3, 2025

Hays plc announced a transaction involving Deborah Dorman, a member of its Executive Leadership Team, who acquired 65,703 ordinary shares following the vesting of an award under the Restricted Share Plan. Subsequently, 30,958 of these shares were sold on the London Stock Exchange. This transaction reflects the company’s ongoing commitment to aligning executive incentives with shareholder interests, potentially impacting market perceptions and stakeholder confidence.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.15 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Regulatory Filings and Compliance
Hays plc Updates on Share Capital and Voting Rights
Neutral
Jun 2, 2025

Hays plc announced that as of May 31, 2025, its issued share capital consisted of 1,600,433,092 ordinary shares, with 8,532,490 held in treasury, resulting in 1,591,900,602 total voting rights. This figure is crucial for shareholders to determine their notification obligations under the FCA’s Disclosure Guidance and Transparency Rules, impacting how they manage their shareholdings in the company.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.15 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
BlackRock Adjusts Voting Rights in Hays plc
Neutral
May 29, 2025

Hays plc has announced that BlackRock, Inc., a major shareholder, has adjusted its voting rights holdings in the company, now holding below 5% of the total voting rights. This change in BlackRock’s stake could influence Hays’ shareholder dynamics and potentially impact its strategic decisions, given BlackRock’s significant role in global investment management.

The most recent analyst rating on (GB:HAS) stock is a Hold with a £1.15 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Shareholder Meetings
Hays plc Addresses Shareholder Concerns Post-AGM
Neutral
May 20, 2025

Hays plc provided an update on the voting results from its 2024 Annual General Meeting, where resolutions 13, 16, and 17 were passed despite receiving over 20% opposition from shareholders. The Board engaged with major shareholders to address concerns about share allotment and pre-emption rights, but no changes to the current approach are planned, although ongoing dialogue will continue.

The most recent analyst rating on (GB:HAS) stock is a Buy with a £125.00 price target. To see the full list of analyst forecasts on Hays plc stock, see the GB:HAS Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Hays plc Re-appoints PwC as External Auditor Following Competitive Tender
Neutral
May 9, 2025

Hays plc has announced the re-appointment of PriceWaterhouseCoopers (PwC) as its external auditor following a competitive audit tender process. This decision, aligned with UK legislation requiring audit tenders every 10 years, will take effect from the financial year ending June 2027, pending shareholder approval at the 2026 Annual General Meeting. The re-appointment of PwC, initially appointed in 2016, reflects the company’s adherence to regulatory standards and aims to ensure continued financial transparency and accountability.

Regulatory Filings and Compliance
Hays plc Updates Share Capital and Voting Rights
Neutral
May 1, 2025

Hays plc has announced its issued share capital as of April 30, 2025, which consists of 1,600,433,092 ordinary shares, with 8,532,490 held in treasury, resulting in 1,591,900,602 total voting rights. This information is crucial for shareholders to determine their notification requirements under the FCA’s Disclosure Guidance and Transparency Rules, impacting how they manage their interests in the company.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 12, 2025