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ManpowerGroup (MAN)
NYSE:MAN
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ManpowerGroup
(NYSE:MAN)
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Rating:55Neutral
Price Target:
$39.00
â–²(9.74% Upside)
ManpowerGroup's overall stock score is driven by financial challenges, including declining revenues and profitability, and a bearish technical outlook. While the company is making strategic shifts towards growth and stabilization, significant pressures on earnings and regional challenges weigh on the score. The high dividend yield provides some support, but the negative P/E ratio reflects ongoing financial difficulties.
Positive Factors
Return to Revenue Growth
The return to revenue growth indicates a potential turnaround in business performance, suggesting improved market conditions and effective strategic initiatives, which could lead to sustained growth.
AI-Driven Revenue Gains
Leveraging AI for revenue generation demonstrates innovation and adaptation to technological advancements, potentially increasing efficiency and competitive edge in the staffing industry.
Cost Management and Efficiency Improvements
Effective cost management and efficiency improvements can enhance profitability and operational resilience, supporting long-term financial health and shareholder returns.
Negative Factors
Decline in EBITDA and Earnings Per Share
Significant declines in EBITDA and EPS highlight ongoing profitability challenges, which could impact the company's ability to invest in growth and maintain competitive positioning.
Ongoing Gross Margin Pressure
Persistent gross margin pressure may limit profitability and reduce financial flexibility, potentially affecting the company's ability to reinvest in its business.
Challenges in Northern Europe
Regional challenges, particularly in Northern Europe, could hinder overall growth and require strategic adjustments, impacting the company's global market presence.
ManpowerGroup (MAN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.76B
Dividend Yield6.36%
Average Volume (3M)1.19M
Price to Earnings (P/E)18.4
Beta (1Y)0.96
Revenue Growth-3.79%
EPS Growth-138.56%
CountryUS
Employees26,700
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)0.83
Shares Outstanding46,291,084
10 Day Avg. Volume959,258
30 Day Avg. Volume1,193,444
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)1.30
Price to Sales (P/S)0.15
P/FCF Ratio10.69
Enterprise Value/Market Cap1.88
Enterprise Value/Revenue0.19
Enterprise Value/Gross Profit1.10
Enterprise Value/Ebitda14.20
Forecast
1Y Price Target
$42.83Price Target Upside20.51% Upside
Rating ConsensusHold
Number of Analyst Covering9
ManpowerGroup Business Overview & Revenue Model
Company DescriptionManpowerGroup (MAN) is a global leader in innovative workforce solutions, providing a range of staffing and recruitment services. The company operates in several sectors, including staffing, recruitment, and talent management, serving various industries such as IT, finance, engineering, and healthcare. Core products and services include temporary staffing, permanent placement, employee assessments, and workforce consulting, aimed at connecting businesses with the right talent to meet their needs.
How the Company Makes MoneyManpowerGroup generates revenue primarily through its staffing and recruitment services. The company earns money by charging clients a fee for the placement of temporary and permanent employees, which is typically a percentage of the employee's salary or an hourly rate multiplied by the hours worked. Additionally, ManpowerGroup offers value-added services such as training, talent assessment, and workforce management solutions, which further contribute to its revenue streams. Significant partnerships with businesses across various industries enhance its ability to provide tailored workforce solutions, thereby driving earnings. The company also benefits from economic trends that affect employment levels, as demand for staffing services often increases during periods of economic growth.
ManpowerGroup Earnings Call Summary
Earnings Call Date:Oct 16, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 03, 2026
Earnings Call Sentiment Neutral
ManpowerGroup's earnings call highlighted a strategic shift towards stabilization and growth, driven by technology investments and cost efficiency initiatives. While there was a return to revenue growth, significant pressure on EBITDA and earnings per share, as well as challenges in certain regions, balanced the overall outlook.Q3-2025 Updates
Positive Updates
Return to Revenue Growth
After 11 consecutive quarters of organic constant currency revenue declines, ManpowerGroup achieved revenue growth in the third quarter of 2025.
Expansion in Global Enterprise Programs
ManpowerGroup secured new enterprise programs in sectors such as financial services and life sciences, aiding in revenue stabilization and growth.
AI-Driven Revenue Gains
Approximately 30% of new client revenue is now derived from AI-rated probability, with AI initiatives helping to identify higher-value prospects.
Strong Performance in Latin America and APME
The company reported strong momentum across Latin America and Asia Pacific Middle East (APME) regions, offsetting softer trends in Europe and North America.
Cost Management and Efficiency Improvements
ManpowerGroup is focusing on managing costs, driving efficiencies at scale, and simplifying its organization to improve margins and shareholder value.
Negative Updates
Decline in EBITDA and Earnings Per Share
Adjusted EBITDA decreased by 22% year-over-year in constant currency, and adjusted earnings per share decreased by 39% year-over-year.
Ongoing Gross Margin Pressure
Gross profit margin came in below guidance, driven by shifts towards enterprise accounts and lower permanent recruitment and outplacement activity.
Challenges in Northern Europe
Northern Europe segment continued to struggle with a 6% decline in constant currency revenue, with restructuring actions ongoing in Germany and the U.K.
Weak IT and Professional Hiring
The Experis brand saw a 7% decline in demand for IT and professional hiring, with clients shifting focus to AI investments.
Company Guidance
During the call, ManpowerGroup provided guidance for the fourth quarter of 2025, highlighting several key metrics and trends. Reported revenue for the third quarter was $4.6 billion, down 2% year-over-year in constant currency, while system-wide revenue, including franchise revenue, was $4.9 billion. Adjusted EBITDA was $96 million, down 22% year-over-year in constant currency, with an adjusted EBITDA margin of 2.1%. Earnings per diluted share were $0.38 on a reported basis and $0.83 on an adjusted basis, with a 39% decrease in adjusted EPS year-over-year in constant currency. For the fourth quarter, the company forecasts earnings per share to be in the range of $0.78 to $0.88, with a constant currency revenue guidance range between a 2% decrease and a 2% increase. This guidance reflects ongoing stability across markets, with particular attention to trends among enterprise clients and emerging growth opportunities facilitated by AI-enabled data insights.ManpowerGroup Financial Statement Overview
Summary
ManpowerGroup faces challenges with declining revenues and profitability, as shown in the income statement. The balance sheet is stable but shows signs of increasing leverage. Cash flow remains strong, but growth is slowing, necessitating careful financial management moving forward.Income Statement
The income statement shows a decrease in total revenue in recent years, with a significant drop in net income for TTM, leading to a negative net profit margin. Gross profit margin remains stable, but declining EBIT and EBITDA margins are concerning. Overall, the company faces challenges in maintaining profitability.55
Neutral
Balance Sheet
The balance sheet reflects a moderate debt-to-equity ratio, indicating a balanced approach to leverage. However, the equity ratio is declining, suggesting increased reliance on liabilities. Return on equity has fallen recently, aligning with weaker net income performance.62
Positive
Cash Flow
Cash flow statements indicate stable operating cash flow, but free cash flow growth has slowed. The operating cash flow to net income ratio is high, reflecting strong cash generation capabilities despite net income volatility.68
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.54B | 17.85B | 18.91B | 19.83B | 20.72B | 18.00B |
| Gross Profit | 3.00B | 3.09B | 3.36B | 3.57B | 3.41B | 2.82B |
| EBITDA | 233.20M | 433.40M | 374.20M | 688.60M | 680.30M | 267.30M |
| Net Income | -16.20M | 145.10M | 88.80M | 373.80M | 382.40M | 23.80M |
Balance Sheet | ||||||
| Total Assets | 8.51B | 8.20B | 8.83B | 9.13B | 9.83B | 9.35B |
| Cash, Cash Equivalents and Short-Term Investments | 289.80M | 509.40M | 581.30M | 639.00M | 847.80M | 1.57B |
| Total Debt | 1.72B | 1.23B | 1.43B | 1.25B | 1.39B | 1.45B |
| Total Liabilities | 6.51B | 6.07B | 6.60B | 6.67B | 7.30B | 6.89B |
| Stockholders Equity | 1.99B | 2.13B | 2.22B | 2.45B | 2.52B | 2.44B |
Cash Flow | ||||||
| Free Cash Flow | 272.40M | 258.10M | 270.00M | 347.70M | 580.60M | 885.70M |
| Operating Cash Flow | 331.10M | 309.20M | 348.20M | 423.30M | 644.80M | 936.40M |
| Investing Cash Flow | -80.40M | -68.20M | -74.10M | -85.30M | -987.00M | -42.40M |
| Financing Cash Flow | -120.00M | -282.40M | -349.50M | -482.10M | -283.70M | -435.20M |
ManpowerGroup Technical Analysis
Negative
35.54
Price Trends
39.58
Negative
40.74
Negative
46.55
Negative
Market Momentum
-0.57
Positive
33.36
Neutral
35.82
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MAN, the sentiment is Negative. The current price of 35.54 is below the 20-day moving average (MA) of 38.16, below the 50-day MA of 39.58, and below the 200-day MA of 46.55, indicating a bearish trend. The MACD of -0.57 indicates Positive momentum. The RSI at 33.36 is Neutral, neither overbought nor oversold. The STOCH value of 35.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MAN.
ManpowerGroup Risk Analysis
ManpowerGroup disclosed 33 risk factors in its most recent earnings report. ManpowerGroup reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ManpowerGroup Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $3.64B | 14.76 | 13.55% | 2.61% | 0.79% | 34.85% | |
66 Neutral | $1.10B | 21.14 | 25.36% | 0.74% | 9.48% | 11.62% | |
64 Neutral | $3.31B | 18.56 | 12.75% | 7.08% | -6.95% | -41.84% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | $1.76B | 18.36 | -1.00% | 6.36% | -3.79% | -138.56% | |
49 Neutral | $1.75B | 44.30 | 31.50% | 5.07% | 2.40% | -75.66% | |
48 Neutral | $437.20M | 11.43 | -0.49% | 2.42% | 0.97% | -112.75% |
* Industrials Sector Average
MAN
ManpowerGroup
35.54
-27.06
-43.23%
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13.15%
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47.32
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12.26
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-37.86%
KFY
Korn Ferry
68.27
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RHI
Robert Half
32.04
-31.32
-49.43%
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.