Hays PLC (GB:HAS)
LSE:HAS
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Hays plc
(LSE:HAS)
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Rating:45Neutral
Price Target:
32.00 p
▼(-0.44% Downside)
Action:Reiterated
Date:03/11/26
The score is held back primarily by weak technicals (below all major moving averages with negative MACD) and very stretched valuation (P/E 748.65). Financial performance is mixed—loss-making and declining revenue, but improving free cash flow—providing partial support.
Positive Factors
Free Cash Flow Strength
Sustained FCF growth and a high FCF-to-net income ratio indicate Hays reliably converts operations into cash. Over 2–6 months this supports dividend funding, working capital for staffing payroll, and flexibility to invest in RPO/MSP capability even while earnings remain volatile.
Negative Factors
Declining Revenue & Loss-Making
Falling revenue combined with a slight net loss signals weakening core demand or market share loss in key segments. In staffing, lower placement volumes directly reduce fees and margins; prolonged declines would erode scale economics and pressure long-term profitability and cash conversion.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Sustained FCF growth and a high FCF-to-net income ratio indicate Hays reliably converts operations into cash. Over 2–6 months this supports dividend funding, working capital for staffing payroll, and flexibility to invest in RPO/MSP capability even while earnings remain volatile.
Read all positive factors
Hays plc (HAS) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£527.76M
Dividend Yield1.76%
Average Volume (3M)4.60M
Price to Earnings (P/E)―
Beta (1Y)1.14
Revenue Growth-4.16%
EPS Growth26.67%
CountryUK
Employees10,300
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding1,599,284,700
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
£41.80Price Target Upside30.06% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)0.01
Revenue Forecast (FY)£6.04B
Hays plc Business Overview & Revenue Model
Company Description
Hays 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 ski...
How the Company Makes Money
Hays makes money primarily by providing recruitment and staffing services to client organizations. Its core revenue streams typically include: (1) Permanent recruitment fees: when Hays places a candidate into a permanent role, it earns a placement...
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 | 5.65B | 6.07B |
| Gross Profit | 870.10M | 24.70M | 292.60M | 426.80M | 292.30M | 451.50M |
| EBITDA | 79.30M | 78.20M | 87.10M | 218.90M | 116.70M | 263.30M |
| Net Income | -10.50M | -7.80M | -4.90M | 138.30M | 61.50M | 161.70M |
Balance Sheet | ||||||
| Total Assets | 1.68B | 1.77B | 1.78B | 1.90B | 1.87B | 1.50B |
| Cash, Cash Equivalents and Short-Term Investments | 169.90M | 168.50M | 121.80M | 145.60M | 410.60M | 129.70M |
| Total Debt | 308.80M | 312.20M | 244.30M | 199.80M | 201.10M | 0.00 |
| Total Liabilities | 1.21B | 1.30B | 1.22B | 1.23B | 1.00B | 801.40M |
| Stockholders Equity | 471.10M | 466.70M | 557.60M | 670.30M | 871.80M | 701.50M |
Cash Flow | ||||||
| Free Cash Flow | 89.70M | 95.60M | 72.40M | 134.90M | -13.70M | 155.40M |
| Operating Cash Flow | 96.50M | 102.60M | 95.80M | 164.00M | 5.10M | 168.90M |
| Investing Cash Flow | -22.90M | -22.70M | -20.20M | -30.10M | -18.80M | -32.30M |
| Financing Cash Flow | -94.10M | -65.30M | -98.80M | -280.70M | -56.40M | -130.70M |
Hays plc Technical Analysis
Neutral
32.14
Price Trends
32.53
Positive
38.50
Negative
47.84
Negative
Market Momentum
-0.12
Negative
58.75
Neutral
80.35
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:HAS, the sentiment is Neutral. The current price of 32.14 is below the 20-day moving average (MA) of 32.57, below the 50-day MA of 32.53, and below the 200-day MA of 47.84, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 58.75 is Neutral, neither overbought nor oversold. The STOCH value of 80.35 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | £205.43M | 12.29 | 7.83% | 6.35% | -12.77% | -63.39% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
54 Neutral | £46.28M | 9.94 | 13.11% | ― | 11.46% | ― | |
48 Neutral | £385.30M | 44.82 | 4.18% | 7.58% | -8.19% | -67.95% | |
46 Neutral | £56.17M | -2.31 | -24.67% | 12.88% | -12.44% | -346.71% | |
45 Neutral | £527.76M | -51.88 | -2.24% | 1.76% | -4.16% | 26.67% | |
43 Neutral | £10.90M | -1.17 | -33.84% | ― | -2.92% | 10.52% |
* Industrials Sector Average
GB:HAS
Hays plc
34.14
-35.77
-51.17%
GB:EMR
Empresaria
22.50
-7.50
-25.00%
GB:PAGE
PageGroup
123.00
-133.41
-52.03%
GB:RWA
Robert Walters
85.40
-122.60
-58.94%
GB:STAF
Staffline
41.00
0.40
0.99%
GB:STEM
SThree plc
168.40
-45.97
-21.44%
Hays plc Corporate Events
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...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Hays Americas Chief Increases Stake Through US Employee Share Plan
Positive
Apr 14, 2026
Hays plc has disclosed that David Brown, CEO for the Americas and a person discharging managerial responsibilities, purchased 11,137 ordinary shares at £0.27 each on 13 April 2026 through the Hays US Employee Stock Purchase Plan, with the sha...
Regulatory Filings and Compliance
Hays Updates Share Capital and Voting Rights Ahead of Transparency Disclosures
Neutral
Apr 1, 2026
Hays plc has reported that as of 31 March 2026 its issued share capital stood at 1,600,433,092 ordinary shares of 1p each, with 1,291,352 shares held in treasury, resulting in 1,599,141,740 voting rights in issue. The updated voting rights figure ...
Business Operations and StrategyExecutive/Board Changes
Hays Grants Sharesave Options to Senior Executives
Positive
Mar 27, 2026
Hays plc has granted share options to senior executives under its Sharesave Plan, reflecting ongoing use of employee equity incentives to align management with shareholder interests. Tom Way, CEO for the UK and Ireland and a person discharging man...
Other
Hays Non-Executive Director Increases Stake With On-Market Share Purchase
Positive
Mar 25, 2026
Hays plc disclosed that non-executive director and person discharging managerial responsibilities Helen Cunningham has made an on-market purchase of ordinary shares in the company. The transaction, executed on 24 March 2026 on the London Stock Exc...
Other
Hays Interim CEO Increases Stake With On‑Market Share Purchase
Positive
Mar 4, 2026
Hays plc has disclosed that interim chief executive officer and person discharging managerial responsibilities Mark Dearnley has purchased 381,500 ordinary shares in the company on the London Stock Exchange. The on‑market transaction, execut...
Regulatory Filings and Compliance
Hays Director Cheryl Millington Buys Shares in On‑Market Trade
Positive
Mar 3, 2026
Hays plc disclosed that Senior Independent Director and PDMR Cheryl Millington purchased 5,000 ordinary shares of the company on the London Stock Exchange at a price of £0.3892 per share on 3 March 2026. The director’s on-market share p...
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.