Recruit Holdings Co (6098) AI Stock Analysis

• Market Cap: ¥9.69T
• Dividend Yield: 0.27%
• Average Volume (3M): 4.91M
• Price to Earnings (P/E): 21.3
• Beta (1Y): 1.02
• Revenue Growth: 1.23%
• EPS Growth: 26.94%
• Country: JP
• Employees: 51,373
• Sector: Communication Services
• Sector Strength: 97
• Industry: Staffing & Employment Services
• EPS (TTM): N/A
• Shares Outstanding: 1,563,912,100
• 10 Day Avg. Volume: 4,607,310
• 30 Day Avg. Volume: 4,913,210
• PEG Ratio: 0.86
• Price to Book (P/B): 5.18
• Price to Sales (P/S): 3.04
• P/FCF Ratio: 22.28
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ¥9,100.00
• Price Target Upside: 16.65% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: ¥7,415.00 ▼(-4.95% Downside)
• Action: Reiterated Date: 02/14/26
• Date: Action: Reiterated 02/14/26

The score is driven primarily by strong financial performance (improving margins, low leverage, and robust free cash flow), but is held back by very weak technical momentum (price below all major moving averages with negative MACD). Valuation is neutral-to-slightly supportive with a moderate P/E, though the low dividend yield limits upside from income.

Positive Factors

Free cash flow conversion

FCF nearly equals net income (FCF/net income ~0.98), indicating high earnings quality and strong cash generation. This durable cash conversion supports reinvestment, M&A optionality, and shareholder returns while reducing reliance on external financing across business cycles.

Conservative leverage

Low debt-to-equity (~0.21x TTM) provides balance-sheet flexibility and lowers refinancing risk. Conservative leverage supports capital allocation choices—buybacks, acquisitions, or R&D—and helps the company absorb downturns in the hiring market without pressuring liquidity or margins.

Diversified recurring platform model

Multiple recurring revenue streams—subscription/usage HR tech, job-ad listings, and staffing fees—create durable cash flows and customer stickiness. Platform scale and matching-marketplace effects provide competitive advantages in employer reach and candidate supply over the medium term.

Negative Factors

Revenue volatility / cyclical demand

Revenue shows a cyclical profile with uneven growth across periods, reflecting sensitivity to hiring cycles. Persistent top-line volatility complicates capacity planning, long-term investment timing, and forecasting of operating margins, making sustainable growth harder to rely upon.

Working-capital swings impact cash flow coverage

Operating cash flow has at times lagged operating profit due to working-capital swings, which can mask earnings quality and create short-term liquidity strain. If swings persist, they may reduce available cash for strategic uses despite strong FCF on a TTM basis.

Period-to-period capital variability

Fluctuations in equity and debt balances across periods point to variable capital actions or timing effects. This variability can introduce uncertainty in leverage trends and capital allocation consistency, complicating long-range planning and potentially increasing refinancing or dilution risk.

Recruit Holdings Co Business Overview & Revenue Model

Company Description

Recruit Holdings Co., Ltd. is a global human resource and staffing company headquartered in Tokyo, Japan. Founded in 1960, the company operates through various segments, including Staffing, which provides temporary staffing services, and Solutions, which offers recruitment and workforce solutions. Recruit Holdings is also known for its significant investment in the online job marketplace Indeed and the professional networking site Glassdoor, positioning itself as a leader in the HR technology sector.

How the Company Makes Money

Recruit Holdings generates revenue primarily through its Staffing segment, which earns money by charging fees for placing temporary and permanent staff across various industries. The company also derives substantial income from its Solutions segment, which includes job advertising and recruitment services provided through platforms like Indeed and Glassdoor. These platforms charge employers for job postings and premium services, contributing to a significant portion of the company’s revenue. Additionally, Recruit Holdings benefits from strategic partnerships and acquisitions that enhance its service offerings and market reach, such as its acquisition of Indeed in 2012, which has become a major driver of growth and profitability.

Recruit Holdings Co Financial Statement Overview

Summary

High-quality fundamentals: improving profitability with higher TTM net margin (~12.8% vs ~10.4% FY2025), conservative leverage (~0.21x debt-to-equity), strong ROE (~27.7% TTM), and excellent cash conversion (FCF to net income ~0.98). Key risk is uneven/cyclical revenue growth across periods.

Income Statement

TTM (Trailing-Twelve-Months) results show strong profitability with healthy gross profit and improved operating efficiency versus prior annual periods (net margin up to ~12.8% TTM vs ~10.4% in FY2025 and ~7.9% in FY2024). Revenue growth is volatile—near-flat in FY2025, stronger in FY2024, and accelerating again in TTM—suggesting a cyclical demand profile. Overall, earnings quality looks solid with expanding margins, but growth consistency remains a key watch item.

Balance Sheet

Leverage is conservative with low debt relative to equity (about 0.21x debt-to-equity in TTM, and even lower in FY2025), providing balance-sheet flexibility. Returns to shareholders are strong (ROE ~27.7% TTM), indicating efficient capital use. The main weakness is some period-to-period movement in equity and debt levels, but overall the capital structure looks stable and not overly reliant on borrowing.

Cash Flow

Cash generation is a standout: free cash flow is very strong and nearly matches net income in TTM (free cash flow to net income ~0.98), supporting high earnings quality. Free cash flow growth is strong in TTM, and both operating cash flow and free cash flow are consistently positive across years. A modest drawback is that operating cash flow does not fully cover reported operating profit in recent periods (coverage below 1), which can happen with working-capital swings—still, overall cash conversion remains robust.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	3.60T	3.56T	3.42T	3.43T	2.87T	2.27T
Gross Profit	2.10T	1.98T	1.85T	1.88T	1.53T	1.03T
EBITDA	724.30B	655.82B	575.94B	491.73B	504.90B	285.97B
Net Income	461.87B	408.50B	353.65B	269.80B	296.83B	131.39B
Balance Sheet
Total Assets	2.70T	2.77T	3.14T	2.79T	2.42T	2.20T
Cash, Cash Equivalents and Short-Term Investments	592.44B	808.63B	1.14T	884.00B	671.45B	540.09B
Total Debt	332.74B	208.94B	221.13B	254.95B	271.42B	417.77B
Total Liabilities	1.12T	1.14T	1.14T	1.15T	1.05T	1.10T
Stockholders Equity	1.56T	1.62T	2.00T	1.63T	1.36T	1.09T
Cash Flow
Free Cash Flow	613.19B	602.41B	465.43B	361.44B	375.23B	228.28B
Operating Cash Flow	623.11B	610.36B	535.36B	438.19B	439.61B	286.60B
Investing Cash Flow	-74.83B	-61.05B	-68.79B	-32.68B	-70.74B	-40.37B
Financing Cash Flow	-803.56B	-880.48B	-334.65B	-252.06B	-254.37B	-172.71B

Recruit Holdings Co Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 7801.00
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:6098, the sentiment is Negative. The current price of 7801 is above the 20-day moving average (MA) of 6767.95, below the 50-day MA of 8034.92, and below the 200-day MA of 8197.79, indicating a bearish trend. The MACD of -429.76 indicates Negative momentum. The RSI at 41.95 is Neutral, neither overbought nor oversold. The STOCH value of 81.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:6098.

Recruit Holdings Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
9744	85 Outperform	¥263.38B	18.88	28.98%	5.57%	4.09%	17.10%
2124	75 Outperform	¥146.10B	16.89	―	2.38%	20.17%	32.32%
2429	74 Outperform	¥50.80B	7.72	―	3.16%	15.79%	113.14%
6098	66 Neutral	¥9.69T	21.27	27.29%	0.27%	1.23%	26.94%
2181	66 Neutral	¥565.80B	14.18	19.18%	3.59%	6.95%	13.63%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
2168	42 Neutral	¥76.39B	-14.28	-6.02%	0.77%	-9.70%	-108.59%

Recruit Holdings Co Corporate Events

Recruit Holdings Lifts FY2025 Outlook on Strong U.S. HR Tech Growth

Recruit Holdings, the Japanese HR technology and recruitment conglomerate, reported solid growth in its U.S. HR technology business for the third quarter of FY2025, with quarterly U.S. revenue up 10.1% year on year in dollar terms and average revenue per job seeker in the U.S. rising 18%. The company expects momentum to accelerate in the fourth quarter, forecasting 12.4% U.S. revenue growth and a 19% gain in ARPJ, while also raising its full-year consolidated guidance, lifting EBITDA+S to ¥763.8 billion from ¥733.5 billion and basic EPS to ¥335 from ¥313, and disclosing a robust net cash position of ¥648.2 billion at the end of December 2025, underscoring strong financial flexibility for shareholders and strategic investment.

The upgraded earnings outlook and healthy balance sheet highlight Recruit Holdings’ ability to monetize its HR platforms more effectively in the U.S., reinforcing its competitive positioning in global online recruitment. These developments suggest the group is benefiting from higher monetization per user and sustained demand for digital hiring solutions, which may support further growth initiatives and returns to investors as it heads toward the close of FY2025.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen7874.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Reshapes Executive Lineup Across Global Segments for FY2026

Recruit Holdings Co., Ltd. has announced a broad slate of executive appointments effective April 1, 2026, aligning leadership across its holding company and three main segments: HR Technology, Staffing and Marketing Matching Technologies. The reshuffle confirms Masumi Minegishi as chairperson and Hisayuki Idekoba as president and CEO, while reinforcing Ayano Senaha and Junichi Arai in core COO and CFO roles, and elevating Keiichi Ushida and Rob Zandbergen to lead segment businesses and key subsidiaries.

The group has also detailed CEOs and senior leaders for major overseas units, including RGF OHR USA, Inc. for HR Tech and RGF Staffing B.V. for staffing, as well as the executive team at Recruit Co., Ltd. for its marketing and SaaS operations. By clearly assigning responsibilities in areas such as risk management, sustainability, product development and international governance, Recruit is tightening operational control and segment accountability, signaling a continued focus on global expansion, digital products and disciplined risk oversight for stakeholders.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen7874.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Unveils 2026 Board and Audit Committee Slate

Recruit Holdings has announced its slate of candidates for the Board of Directors and Audit and Supervisory Board for the fiscal year 2026, with final approval pending at the June 2026 annual shareholders meeting. The proposed board continues the leadership of Representative Director and Chairperson Masumi Minegishi and CEO Hisayuki Idekoba, alongside senior operating executive Ayano Senaha.

The candidate list also emphasizes strong external governance, retaining or adding multiple independent directors such as executives and experts from Asahi Group, Sony Group, Waseda Business School, and U.S. fashion tech company Stitch Fix, Inc. For the Audit and Supervisory Board, Recruit is proposing a mix of standing and independent members, including partners from professional firms and a CPA office founder, indicating a focus on robust oversight and compliance for stakeholders.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen7874.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Lifts FY2025 Profit Outlook as Margins Strengthen

Recruit Holdings reported modest revenue growth but robust profit expansion for the nine months ended December 31, 2025, with sales up 1.5% to ¥2.74 trillion and operating income rising 21.1% as margin improvements and cost discipline boosted EBITDA+S by 12.1%. Earnings per share climbed more than 20%, even as total assets and equity edged slightly lower, reflecting continued share buybacks that increased treasury stock and supported shareholder returns.

The company lifted its full-year FY2025 guidance, projecting 3% revenue growth and double‑digit gains in EBITDA+S, operating income, and profit attributable to owners, signaling confidence in its underlying businesses despite a moderate top-line trajectory. Recruit also adjusted its consolidation scope by adding Indeed Recruit Partners and excluding RGF Staffing UK, while maintaining its planned dividend increase to ¥25 per share for the year, underscoring a stable capital policy and ongoing portfolio reshaping in the global HR services market.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen7874.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Nears Full Use of ¥250 Billion Share Buyback Authorization

Recruit Holdings has completed the share repurchase program it launched in October 2025, buying back a total of 30,427,000 shares of its common stock for approximately 250 billion yen by February 4, 2026. The repurchases, conducted via market purchases on the Tokyo Stock Exchange and through the ToSTNeT-3 off-auction system, nearly exhausted the maximum authorization of 38 million shares and 250 billion yen approved by the board, signaling an active capital return policy that may enhance earnings per share and shareholder value through a reduced share count.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen10248.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Completes ¥16.5 Billion Share Buyback via ToSTNeT-3

Recruit Holdings has completed the repurchase of 2 million shares of its common stock, or about 0.14% of shares outstanding (excluding treasury stock), via the Tokyo Stock Exchange’s off-auction ToSTNeT-3 system for a total of ¥16.5 billion. Management said the transaction is intended to improve capital efficiency and maximize shareholder returns, and it forms part of a broader share buyback program authorized by the board in October 2025 that allows for the repurchase of up to 38 million shares, or 2.68% of outstanding stock, for as much as ¥250 billion through April 30, 2026, underscoring the company’s confidence in its financial position and its continued use of buybacks as a capital allocation tool.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen10248.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Sets Terms for Next Tranche of Share Buyback via ToSTNeT-3

Recruit Holdings has set the specific terms for the next phase of its ongoing share repurchase program, confirming it will buy back up to 2 million shares, or about 0.14% of its outstanding common stock (excluding treasury shares), via the Tokyo Stock Exchange’s ToSTNeT-3 off-auction trading system at today’s closing price of ¥8,258 at 8:45 a.m. on February 3, 2026. This off-auction transaction forms part of a larger repurchase framework authorized by the board on October 16, 2025, which allows for up to 38 million shares and a total of ¥250 billion in buybacks through April 30, 2026, signaling continued capital return to shareholders and a potentially supportive effect on earnings per share and capital efficiency, even though the company notes that actual repurchase volumes may be adjusted based on market conditions.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen10248.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Nears Completion of ¥250 Billion Share Buyback Program

Recruit Holdings Co., Ltd. reported that it repurchased 8,622,800 shares of its common stock on the Tokyo Stock Exchange between January 1 and January 31, 2026, for a total of approximately ¥75.2 billion, as part of a broader share buyback program authorized by its board in October 2025. Under this ongoing program, which runs through April 30, 2026 and allows for up to 38 million shares or ¥250 billion in repurchases, the company has so far bought back 26,937,800 shares for about ¥222.1 billion, representing roughly 71% of the authorized share volume and 89% of the authorized monetary limit, signaling an active capital return policy that may support shareholder value and earnings per share.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen10248.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings to Sell Asian Placement Subsidiary RIR to Fullcast Holdings

Recruit Holdings announced that its subsidiary Recruit Co., Ltd. will transfer all shares of its consolidated subsidiary RGF International Recruitment Holdings Limited, which operates placement services primarily in Asia, to Fullcast Holdings for 609 million yen, with the deal scheduled to close on April 1, 2026. The divestment reflects Recruit’s strategic decision to prioritize advancing AI- and machine learning–driven evolution of its placement services in Japan, while enabling RIR’s further growth through collaboration with an external partner, and the company expects the impact on its consolidated financial results for the year ending March 31, 2027 to be minimal.

The most recent analyst rating on (JP:6098) stock is a Buy with a Yen10248.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Nears Halfway Mark in ¥250 Billion Share Buyback Program

Recruit Holdings has continued executing the share repurchase program authorized by its board in October 2025, buying back 6,479,700 common shares on the Tokyo Stock Exchange between December 1 and 31, 2025, for a total of approximately ¥54.8 billion through market purchases and ToSTNeT-3 transactions. Cumulatively, from the start of the program on October 17 through December 31, 2025, the company has repurchased 18,315,000 shares, or 48.2% of the approved maximum of 38 million shares, at a total cost of about ¥147.0 billion, representing 58.79% of the ¥250 billion budget, signaling an ongoing commitment to returning capital to shareholders and potentially supporting its share price and capital efficiency through April 30, 2026.

The most recent analyst rating on (JP:6098) stock is a Hold with a Yen8785.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Completes Strategic Share Repurchase

Recruit Holdings Co., Ltd. announced the completion of a share repurchase through the ToSTNeT-3 system, aimed at improving capital efficiency and maximizing shareholder returns. The repurchase involved 1,424,300 shares, representing 0.10% of the total shares, with a total purchase amount of 11.5 billion yen. This move reflects the company’s strategic approach to balancing business investments with shareholder interests.

The most recent analyst rating on (JP:6098) stock is a Hold with a Yen8170.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Announces Share Repurchase Plan

Recruit Holdings Co., Ltd. has announced a share repurchase plan through the Tokyo Stock Exchange’s Off-Auction Own Share Repurchase Trading System (ToSTNeT-3). The company plans to repurchase up to 2,500,000 shares, representing 0.18% of its total shares, at the closing price of ¥8,096. This move is part of a broader strategy authorized by the board to repurchase up to 38,000,000 shares by April 2026, potentially enhancing shareholder value and optimizing capital structure.

The most recent analyst rating on (JP:6098) stock is a Hold with a Yen8170.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.

Recruit Holdings Announces Progress in Share Repurchase Program

Recruit Holdings Co., Ltd. announced the status of its share repurchase program, initially resolved by the Board of Directors in October 2025. Between December 1 and December 8, 2025, the company repurchased 1.2 million shares of its common stock for approximately 9.85 billion yen through market purchases on the Tokyo Stock Exchange. This move is part of a larger plan to repurchase up to 38 million shares by April 2026, which could impact the company’s stock value and shareholder equity.

The most recent analyst rating on (JP:6098) stock is a Hold with a Yen8170.00 price target. To see the full list of analyst forecasts on Recruit Holdings Co stock, see the JP:6098 Stock Forecast page.