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Hays plc
(LSE:HAS)
Select Model
Select Model
Rating:56Neutral
Price Target:
49.00 p
▲(52.46% Upside)
Action:Reiterated
Date:07/11/26
The score is held back primarily by weak profitability and declining revenue, alongside negative ROE, despite decent balance-sheet leverage. Offsetting this, cash flow trends are comparatively strong and technical momentum is positive, while valuation is challenged by a loss-making (negative P/E) profile and a modest dividend yield.
Positive Factors
Business model diversification
Hays' mix of permanent placement fees, ongoing temporary/contract margins and managed talent services creates multiple revenue streams. This structural diversity smooths cash flow timing, increases client stickiness and reduces reliance on any single hiring market over a multi-month horizon.
Negative Factors
Declining revenue
Year-over-year revenue contraction signals weaker underlying demand or market share pressure in core recruitment markets. Sustained top-line decline erodes operating leverage and constrains reinvestment, making multi-quarter recovery and margin improvement harder.
Read all positive and negative factors
Positive Factors
Negative Factors
Business model diversification
Hays' mix of permanent placement fees, ongoing temporary/contract margins and managed talent services creates multiple revenue streams. This structural diversity smooths cash flow timing, increases client stickiness and reduces reliance on any single hiring market over a multi-month horizon.
Read all positive factors
Hays plc (HAS) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£765.97M
Dividend Yield1.76%
Average Volume (3M)4.60M
Price to Earnings (P/E)―
Beta (1Y)1.00
Revenue Growth-4.16%
EPS Growth26.67%
CountryUK
Employees10,300
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,570,252,200
10 Day Avg. Volume5,140,711
30 Day Avg. Volume4,602,489
Financial Highlights & Ratios
PEG Ratio-2.51
Price to Book (P/B)2.43
Price to Sales (P/S)0.17
P/FCF Ratio11.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£37.80Price Target Upside17.61% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.02
Revenue Forecast (FY)£5.93B
Hays plc Business Overview & Revenue Model
Company Description
Hays plc operates as a prominent global staffing and recruitment firm, with operations spanning Australia, New Zealand, Germany, the United Kingdom, Ireland, and various other international markets. The company specializes in connecting qualified,...
How the Company Makes Money
Hays makes money primarily by acting as an intermediary between employers seeking talent and candidates seeking roles, earning fees when it successfully places workers. For permanent recruitment, revenue is typically a one-off placement fee paid b...
Hays plc Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
60
Neutral
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2022 | Jun 2021 | Jun 2019 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.49B | 6.61B | 6.95B | 7.58B | 6.59B | 5.93B |
| Gross Profit | 870.10M | 24.70M | 292.60M | 426.80M | 421.40M | 346.30M |
| EBITDA | 79.30M | 78.20M | 87.10M | 218.90M | 232.90M | 150.30M |
| Net Income | -10.50M | -7.80M | -4.90M | 138.30M | 154.20M | 47.50M |
Balance Sheet | ||||||
| Total Assets | 1.68B | 1.77B | 1.78B | 1.90B | 2.08B | 1.94B |
| Cash, Cash Equivalents and Short-Term Investments | 169.90M | 168.50M | 121.80M | 145.60M | 296.20M | 484.50M |
| Total Debt | 308.80M | 312.20M | 244.30M | 199.80M | 185.10M | 228.70M |
| Total Liabilities | 1.21B | 1.30B | 1.22B | 1.23B | 1.28B | 1.09B |
| Stockholders Equity | 471.10M | 466.70M | 557.60M | 670.30M | 796.20M | 853.40M |
Cash Flow | ||||||
| Free Cash Flow | 89.70M | 95.60M | 72.40M | 134.90M | 146.80M | 327.00M |
| Operating Cash Flow | 96.50M | 102.60M | 95.80M | 164.00M | 171.20M | 352.80M |
| Investing Cash Flow | -22.90M | -22.70M | -20.20M | -30.10M | -24.40M | -25.80M |
| Financing Cash Flow | -94.10M | -65.30M | -98.80M | -280.70M | -269.40M | 28.30M |
Hays plc Technical Analysis
Positive
32.14
Price Trends
34.30
Positive
34.78
Positive
44.22
Positive
Market Momentum
2.67
Negative
76.32
Negative
92.65
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HAS, the sentiment is Positive. The current price of 32.14 is below the 20-day moving average (MA) of 35.54, below the 50-day MA of 34.30, and below the 200-day MA of 44.22, indicating a bullish trend. The MACD of 2.67 indicates Negative momentum. The RSI at 76.32 is Negative, neither overbought nor oversold. The STOCH value of 92.65 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:HAS.
Hays plc Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | £227.07M | 14.11 | 7.83% | 6.35% | -12.77% | -63.39% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | £765.97M | -72.18 | -2.24% | 1.76% | -4.16% | 26.67% | |
54 Neutral | £485.74M | 55.24 | 4.18% | 7.58% | -8.19% | -67.95% | |
54 Neutral | £41.14M | 9.17 | 13.11% | ― | 11.46% | ― | |
47 Neutral | £69.06M | -2.47 | -24.67% | 12.88% | -12.44% | -346.71% | |
43 Neutral | £10.90M | -1.18 | -33.84% | ― | -2.92% | 10.52% |
* Industrials Sector Average
GB:HAS
Hays plc
47.64
-19.00
-28.51%
GB:EMR
Empresaria
22.50
-2.50
-10.00%
GB:PAGE
PageGroup
151.90
-108.70
-41.71%
GB:RWA
Robert Walters
96.40
-74.60
-43.63%
GB:STAF
Staffline
37.60
-9.40
-20.00%
GB:STEM
SThree plc
193.40
-33.36
-14.71%
Hays plc Corporate Events
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Hays Publishes Q4 Trading Update and Schedules Investor Call
Neutral
Jul 10, 2026
Hays plc has issued its fourth-quarter trading statement for the three months to 30 June 2026, providing investors with an update on recent business performance and trading conditions. The detailed statement has been made available through the Lon...
Regulatory Filings and Compliance
Hays Updates Total Voting Rights Following Share Capital Adjustment
Neutral
Jul 1, 2026
Hays plc reported that as of 30 June 2026, its issued share capital comprised 1,600,433,092 ordinary shares, with 30,180,866 of these held in treasury, leaving 1,570,252,226 voting rights in circulation. The company highlighted that this total vot...
Business Operations and StrategyStock Buyback
Hays Completes Treasury Share Buyback, Holding Over 30 Million Shares
Positive
Jun 29, 2026
Hays plc has continued to execute its previously announced treasury share purchase programme, buying a total of around 8.7 million ordinary shares between 22 June and 26 June 2026 through BNP Paribas SA on the London Stock Exchange. The purchased ...
Business Operations and StrategyRegulatory Filings and Compliance
Hays plc updates London registered office details after correcting postcode
Neutral
Jun 22, 2026
Hays plc has updated its registered office address in London, moving from Triton Street, NW1, to 4th Floor, 107 Cheapside, London EC2V 6DN, a change that reflects a formal administrative shift rather than an operational overhaul. The company also ...
Business Operations and StrategyStock Buyback
Hays Boosts Treasury Stock with Further Share Buybacks
Positive
Jun 22, 2026
Hays plc has continued its previously announced share buyback, repurchasing around 7.6 million ordinary shares between 15 and 19 June 2026 on the London Stock Exchange via BNP Paribas SA. The shares, bought at volume-weighted average prices rangin...
Business Operations and StrategyRegulatory Filings and Compliance
Hays Updates Registered Office Address in London
Neutral
Jun 19, 2026
Hays plc has changed its registered office address within London, moving from its previous Triton Street location to the 4th Floor, 107 Cheapside, EC2V 6DB. The move represents an administrative change to the company’s corporate details rath...
Business Operations and StrategyM&A Transactions
Hays Sells Six European Units as It Refocuses on Core Recruitment Markets
Neutral
Jun 17, 2026
Hays plc has reshaped its geographical footprint by selling its operations in six European countries — the Czech Republic, Denmark, Hungary, Luxembourg, Romania, and Sweden — to private equity firm Meraki Capital, generating net cash p...
Business Operations and StrategyStock Buyback
Hays Buys Back Over 7 Million Shares for Treasury in Ongoing Programme
Positive
Jun 15, 2026
Hays plc has continued to execute its previously announced treasury share purchase programme, buying a total of 7,017,543 ordinary shares between 8 June and 12 June 2026 on the London Stock Exchange through BNP Paribas. The purchases were made wit...
Other
Hays Non-Executive Director Joseph Hurd Buys Shares on Market
Positive
Jun 10, 2026
Hays plc disclosed that non-executive director and person discharging managerial responsibilities, Joseph Hurd, has purchased ordinary shares in the company. The transaction involved the on-market acquisition of 5,672 Hays ordinary shares of 1p ea...
Business Operations and StrategyStock Buyback
Hays Doubles Size of Treasury Share Buyback to £10 Million
Positive
Jun 8, 2026
Hays plc has doubled the maximum aggregate consideration for its ongoing share buyback programme from £5 million to £10 million, targeting purchases of ordinary shares to be held in treasury. The move is intended to ensure the company ca...
Business Operations and StrategyStock Buyback
Hays boosts treasury stock with multi-day share buyback
Positive
Jun 8, 2026
Hays plc has repurchased a total of 5,712,336 ordinary shares between 1 and 5 June 2026 on the London Stock Exchange, executing the trades through BNP Paribas SA under its recently announced treasury share purchase programme. The buyback, carried ...
Executive/Board ChangesRegulatory Filings and Compliance
Hays Executive Deals in Shares Following Restricted Share Plan Award
Neutral
Jun 4, 2026
Hays plc disclosed a transaction involving Chief People Officer and PDMR Deborah Dorman, who received 128,792 ordinary shares under the company’s Restricted Share Plan, including related dividend-equivalent shares. Following this award, Dorm...
Regulatory Filings and Compliance
Hays Updates Share Capital and Voting Rights Totals
Neutral
Jun 1, 2026
Hays plc has reported that, as of 31 May 2026, its issued share capital stood at 1,600,433,092 ordinary shares of 1p each, with 1,148,461 of those shares held in treasury. This leaves a total of 1,599,284,631 voting rights in the company’s o...
Business Operations and StrategyStock Buyback
Hays Launches £5 Million Treasury Share Buyback for Employee Plans
Positive
Jun 1, 2026
Hays plc has launched a share buyback programme of up to £5 million to purchase ordinary shares for holding in treasury, primarily to meet future obligations under its employee share plans. The move underscores the recruitment group’s o...
DividendsRegulatory Filings and Compliance
Hays Director Reinvests Dividends in Additional Company Shares
Positive
May 19, 2026
Hays plc has disclosed that independent non-executive director Joseph Hurd acquired additional ordinary shares in the company through a dividend reinvestment on 14 May 2026. The transaction, executed on the London Stock Exchange, involved a small ...
Other
Hays CEO Boosts Stake with On‑Market Share Purchase
Positive
May 18, 2026
Hays plc disclosed that its chief executive officer and person discharging managerial responsibilities, Mark Dearnley, has conducted an on-market purchase of the company’s ordinary shares. The transaction involved acquiring 485,500 shares at...
Business Operations and StrategyExecutive/Board Changes
Hays Names Digital Transformation Specialist Mark Dearnley as Permanent CEO
Positive
May 18, 2026
Hays plc has confirmed the permanent appointment of Mark Dearnley as chief executive officer with immediate effect, following his tenure as interim CEO since February 2026 and his prior role as chief digital and technology officer. The board highl...
Regulatory Filings and Compliance
Hays Updates Share Capital and Voting Rights for Disclosure Compliance
Positive
May 1, 2026
Hays plc has confirmed that, as of 30 April 2026, its issued share capital stood at 1,600,433,092 ordinary shares, of which 1,148,461 were held in treasury, leaving 1,599,284,631 voting rights in issue. This updated voting rights total provides th...
DividendsRegulatory Filings and Compliance
Hays Director Zarin Patel Adds Shares via Dividend Reinvestment
Neutral
Apr 29, 2026
Hays plc disclosed that independent non-executive director and PDMR Zarin Patel acquired small numbers of ordinary shares through the reinvestment of dividends, underlining continued alignment of board interests with shareholders. The transactions...
Regulatory Filings and Compliance
Hays CFO and Related Party Increase Holdings via Dividend Reinvestment
Positive
Apr 28, 2026
Hays plc has disclosed that Chief Financial Officer and person discharging managerial responsibilities James Hilton acquired additional ordinary shares in the company through the reinvestment of dividends. The transaction, executed on 27 April 202...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Hays publishes Q3 trading update and schedules investor call
Neutral
Apr 16, 2026
Hays plc has released its trading statement for the quarter ended 31 March 2026, providing investors with an update on recent business performance. The document is accessible via the London Stock Exchange and the company’s investor relations...
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.