ManpowerGroup (MAN) AI Stock Analysis

• Market Cap: $1.38B
• Dividend Yield: 4.82%
• Average Volume (3M): 983.48K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.89
• Revenue Growth: -2.44%
• EPS Growth: -156.01%
• Country: US
• Employees: 26,700
• Sector: Industrials
• Sector Strength: 72
• Industry: Staffing & Employment Services
• EPS (TTM): 0.83
• Shares Outstanding: 46,297,180
• 10 Day Avg. Volume: 943,723
• 30 Day Avg. Volume: 983,481
• PEG Ratio: 0.27
• Price to Book (P/B): 1.30
• Price to Sales (P/S): 0.15
• P/FCF Ratio: 10.69
• Enterprise Value/Market Cap: 2.27
• Enterprise Value/Revenue: 0.18
• Enterprise Value/Gross Profit: 1.05
• Enterprise Value/Ebitda: 12.16
• 1Y Price Target: $38.80
• Price Target Upside: 29.94% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 7
• EPS Forecast (FY): 2.87
• Revenue Forecast (FY): $17.88B

• Rating: 54 Neutral
• Price Target: $31.00 ▲(3.82% Upside)

ManpowerGroup's overall stock score reflects significant financial challenges, with declining revenues and profitability being the most impactful factors. While technical indicators and corporate events provide some positive signals, the negative P/E ratio and mixed earnings call sentiment weigh on the score.

Positive Factors

AI-Driven Revenue Gains

The integration of AI in revenue generation indicates a strategic shift towards technology, enhancing client acquisition and long-term growth.

Expansion in Global Enterprise Programs

Expanding enterprise programs in key sectors supports revenue stabilization and growth, strengthening market position and client base.

Debt Strategy Update

Updating the credit facility and issuing new notes enhances financial flexibility, supporting long-term debt management and operational stability.

Negative Factors

Declining Revenue

Ongoing revenue decline indicates challenges in maintaining sales momentum, impacting long-term profitability and market competitiveness.

Weak IT and Professional Hiring

Decreased demand in key hiring segments like IT and professional services can affect revenue streams and market positioning.

Rising Leverage

Increased leverage can strain financial resources, limiting flexibility and increasing risk, impacting long-term financial health.

ManpowerGroup Business Overview & Revenue Model

Company Description

ManpowerGroup Inc. provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives. In addition, the company provides workforce consulting services; contingent staffing and permanent recruitment services; professional resourcing and project-based solutions in information technology, engineering, and finance fields; solutions in the areas of organizational efficiency, individual development, and career mobility; and recruitment process outsourcing, TAPFIN managed, and talent based outsourcing services, as well as Proservia services in the areas of digital services market and IT infrastructure sector. It operates through a network of approximately 2,200 offices in 75 countries and territories. The company was incorporated in 1948 and is based in Milwaukee, Wisconsin.

How the Company Makes Money

ManpowerGroup generates revenue primarily through its staffing and recruitment services, which include temporary and permanent placements for a diverse range of industries. The company earns money by charging clients a fee based on the salaries of the placed candidates or a percentage of the contract value for temporary staff. Additionally, ManpowerGroup offers managed services and recruitment process outsourcing (RPO), which contribute to its revenue through service contracts with organizations looking to streamline their hiring processes. The company also engages in partnerships with businesses to deliver customized workforce solutions, further enhancing its revenue potential. Economic trends, labor market conditions, and demand for skilled labor significantly impact ManpowerGroup's earnings, making its revenue model sensitive to fluctuations in the employment landscape.

ManpowerGroup Financial Statement Overview

Summary

ManpowerGroup faces significant financial challenges, with declining revenues and profitability impacting its income statement. The balance sheet shows increased leverage, while cash flow issues are evident with negative cash flows. The company needs to address these issues to improve its financial health and stability.

Income Statement

The income statement shows a concerning trend with declining revenue and profitability. The TTM data reveals a negative net profit margin, indicating losses. Gross profit margin has slightly decreased over time, and EBIT and EBITDA margins have also contracted. Revenue growth has been negative in recent years, reflecting challenges in maintaining sales momentum.

Balance Sheet

The balance sheet indicates moderate financial stability. The debt-to-equity ratio has increased in the TTM period, suggesting rising leverage, but it remains within a manageable range. Return on equity has turned negative in the TTM, reflecting recent losses. The equity ratio is stable, indicating a reasonable proportion of equity financing.

Cash Flow

Cash flow analysis highlights significant challenges, with negative operating and free cash flows in the TTM period. The free cash flow growth rate is positive, but this is due to a smaller negative base. Ratios of cash flow to net income are relatively high, indicating cash flow issues are not solely due to profitability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	17.64B	17.85B	18.91B	19.83B	20.72B	18.00B
Gross Profit	2.99B	3.09B	3.36B	3.57B	3.41B	2.82B
EBITDA	258.30M	433.40M	374.20M	688.60M	680.30M	267.30M
Net Income	-21.00M	145.10M	88.80M	373.80M	382.40M	23.80M
Balance Sheet
Total Assets	8.45B	8.20B	8.83B	9.13B	9.83B	9.35B
Cash, Cash Equivalents and Short-Term Investments	274.60M	509.40M	581.30M	639.00M	847.80M	1.57B
Total Debt	1.64B	1.23B	1.43B	1.36B	1.39B	1.55B
Total Liabilities	6.44B	6.07B	6.60B	6.67B	7.30B	6.89B
Stockholders Equity	2.01B	2.13B	2.22B	2.45B	2.52B	2.44B
Cash Flow
Free Cash Flow	-93.10M	258.10M	270.00M	347.70M	580.60M	885.70M
Operating Cash Flow	-35.40M	309.20M	348.20M	423.30M	644.80M	936.40M
Investing Cash Flow	-75.00M	-68.20M	-74.10M	-85.30M	-987.00M	-42.40M
Financing Cash Flow	-44.10M	-282.40M	-349.50M	-482.10M	-283.70M	-435.20M

ManpowerGroup Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.86
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAN, the sentiment is Positive. The current price of 29.86 is above the 20-day moving average (MA) of 28.49, above the 50-day MA of 29.85, and below the 200-day MA of 39.53, indicating a neutral trend. The MACD of 0.10 indicates Negative momentum. The RSI at 56.17 is Neutral, neither overbought nor oversold. The STOCH value of 73.18 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MAN.

ManpowerGroup Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KFY	73 Outperform	$3.56B	13.85	13.89%	2.79%	3.65%	5.71%
BBSI	66 Neutral	$935.55M	17.53	24.08%	0.88%	9.64%	9.93%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
RHI	60 Neutral	$2.83B	18.13	11.27%	8.45%	-7.27%	-43.88%
MAN	54 Neutral	$1.38B	-63.65	-1.00%	4.82%	-2.44%	-156.01%
NSP	54 Neutral	$1.46B	87.29	16.04%	6.22%	3.19%	-86.21%
KELYA	46 Neutral	$311.76M	-1.98	-13.11%	3.41%	0.46%	-477.90%

ManpowerGroup Corporate Events

ManpowerGroup Updates Credit Facility and Debt Strategy

On December 15, 2025, ManpowerGroup Inc. replaced its previous $600 million revolving credit facility with a new five-year Credit Agreement that maintains the same capacity while including updated allowances for restructuring charges and restrictive financial covenants. Additionally, the company sold €500 million in senior unsecured notes due December 13, 2030, for approximately €497.395 million, designated to redeem existing €500 million 1.750% notes set for full redemption in January 2026, strengthening its financial flexibility and reinforcing its long-term debt management strategy.

ManpowerGroup Highlights Strategy at J.P. Morgan Conference

On November 18, 2025, John T. McGinnis, the Executive Vice President and CFO of ManpowerGroup, presented at the J.P. Morgan 2025 Ultimate Services Investor Conference. The presentation highlighted the company’s strategic and technology initiatives aimed at driving efficiencies and addressing workforce trends. ManpowerGroup continues to focus on transforming its operations to enhance market penetration and maintain its position as a leader in the workforce solutions industry. The company’s efforts in diversification, digitization, and innovation are expected to provide a sustainable competitive advantage and improve client and candidate experiences.

ManpowerGroup Declares Semi-Annual Dividend Announcement

On November 6, 2025, ManpowerGroup‘s Board of Directors declared a semi-annual dividend of $0.72 per share, which will be paid on December 15, 2025, to shareholders recorded by December 1, 2025. This announcement underscores ManpowerGroup’s ongoing commitment to delivering shareholder value and reflects its stable financial position in the workforce solutions industry.