ManpowerGroup Inc. (MAN)
NYSE:MAN
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ManpowerGroup
(NYSE:MAN)
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Rating:51Neutral
Price Target:
$29.00
â–²(1.40% Upside)
Action:ReiteratedDate:01/31/26
The score is held back mainly by weakened financial performance (net loss, higher leverage, and negative 2025 operating/free cash flow). Offsetting this are constructive technical momentum and a supportive dividend yield, while earnings call guidance indicates stabilization but with meaningful ongoing headwinds and cost pressures.
Positive Factors
Large global scale and diversified brands
ManpowerGroup's large, multi-brand global footprint creates durable structural advantages: scale across geographies and franchise channels smooths regional cyclicality, supports cross-selling, and sustains meaningful gross-profit dollars. That breadth helps absorb localized demand shocks and preserves long-term client relationships.
Negative Factors
Elevated leverage and weakened cash flow
Higher leverage plus a return to negative operating and free cash flow materially reduces financial flexibility. That combination limits ability to invest in technology or pursue M&A, raises refinancing and covenant risk, and constrains shareholder returns until cash generation sustainably recovers.
Read all positive and negative factors
Positive Factors
Negative Factors
Large global scale and diversified brands
ManpowerGroup's large, multi-brand global footprint creates durable structural advantages: scale across geographies and franchise channels smooths regional cyclicality, supports cross-selling, and sustains meaningful gross-profit dollars. That breadth helps absorb localized demand shocks and preserves long-term client relationships.
Read all positive factors
ManpowerGroup (MAN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.33B
Dividend Yield4.96%
Average Volume (3M)1.31M
Price to Earnings (P/E)11.4
Beta (1Y)0.89
Revenue Growth-2.44%
EPS Growth-156.01%
CountryUS
Employees26,700
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)0.92
Shares Outstanding46,419,647
10 Day Avg. Volume1,053,458
30 Day Avg. Volume1,311,122
Financial Highlights & Ratios
PEG Ratio0.95
Price to Book (P/B)0.67
Price to Sales (P/S)0.08
P/FCF Ratio-8.58
Enterprise Value/Market Cap2.14
Enterprise Value/Revenue0.16
Enterprise Value/Gross Profit0.94
Enterprise Value/Ebitda10.32
Forecast
1Y Price Target
$39.38Price Target Upside37.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering9
EPS Forecast (FY)3.72
Revenue Forecast (FY)$18.76B
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 recruitm...
How the Company Makes Money
ManpowerGroup primarily makes money by providing workforce solutions to client companies and charging fees tied to the labor it supplies and the services it performs. The largest revenue stream is typically contingent and temporary staffing: Manpo...
ManpowerGroup Earnings Call Summary
Earnings Call Date:Jan 29, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 16, 2026
Earnings Call Sentiment Neutral
The call presented a mixed but stabilizing picture: several clear signs of sequential improvement (organic revenue growth in Q4, brand-level stabilization, strong performance in Italy and Japan, SG&A reductions, scaled AI initiatives and improved Q4 cash flow) offset by substantial full-year declines in adjusted EPS (‑38%) and EBITDA (‑20%), continued weakness in certain markets (Germany, Experis) and timing-related cash flow and margin pressures. Management emphasized cost discipline, execution on technology (PowerSuite/AI) and a path to margin recovery while acknowledging near-term headwinds and ongoing transformation costs. Given comparable weight of positive operational momentum and material legacy declines, the tone is constructive but cautious.Positive Updates
Fourth Quarter Revenue Growth and System-Wide Size
Reported Q4 revenue was $4.7 billion, representing organic constant currency growth of 2%; system-wide revenue (including franchise) was $5.1 billion.
Negative Updates
Full-Year Earnings and EBITDA Declines
Full-year adjusted EPS was $2.97, a constant currency decrease of 38% year over year; full-year adjusted EBITDA was $337 million, a 20% constant currency decline versus prior year; reported EPS for the year was negative $0.29.
Read all updates
Q4-2025 Updates
Positive
Negative
Fourth Quarter Revenue Growth and System-Wide Size
Reported Q4 revenue was $4.7 billion, representing organic constant currency growth of 2%; system-wide revenue (including franchise) was $5.1 billion.
Read all positive updates
Company Guidance
ManpowerGroup guided Q1 2026 EPS of $0.45–$0.55 (including a $0.06 favorable FX translation benefit), constant‑currency revenue down 1% to up 3% (midpoint +1%) — equivalent to organic days‑adjusted revenue +1% at the midpoint — and adjusted EBITDA margin projected to be about 10 basis points higher year‑over‑year at the midpoint; the company carved out restructuring and incremental front‑office transformation costs from underlying guidance, expects a Q1 effective tax rate of ~43% and a full‑year tax rate of ~45% (would drop to ~43.5–44% if the US WOTC is retroactively enacted), assumes ~47.3 million weighted average shares, and noted the typical seasonal Q4→Q1 earnings decline and disclosed foreign‑currency translation assumptions.ManpowerGroup Financial Statement Overview
Summary
Income Statement
42
Neutral
Balance Sheet
45
Neutral
Cash Flow
30
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 17.96B | 17.85B | 18.91B | 19.83B | 20.72B |
| Gross Profit | 3.00B | 3.09B | 3.36B | 3.57B | 3.41B |
| EBITDA | 274.80M | 433.40M | 374.20M | 688.60M | 680.30M |
| Net Income | -13.30M | 145.10M | 88.80M | 373.80M | 382.40M |
Balance Sheet | |||||
| Total Assets | 9.16B | 8.20B | 8.83B | 9.13B | 9.83B |
| Cash, Cash Equivalents and Short-Term Investments | 871.00M | 509.40M | 581.30M | 639.00M | 847.80M |
| Total Debt | 2.39B | 1.23B | 1.43B | 1.36B | 1.39B |
| Total Liabilities | 7.10B | 6.07B | 6.60B | 6.67B | 7.30B |
| Stockholders Equity | 2.06B | 2.13B | 2.22B | 2.45B | 2.52B |
Cash Flow | |||||
| Free Cash Flow | -161.40M | 258.10M | 270.00M | 347.70M | 580.60M |
| Operating Cash Flow | -104.10M | 309.20M | 348.20M | 423.30M | 644.80M |
| Investing Cash Flow | -59.20M | -68.20M | -74.10M | -85.30M | -987.00M |
| Financing Cash Flow | 485.50M | -282.40M | -349.50M | -482.10M | -283.70M |
ManpowerGroup Technical Analysis
Negative
28.60
Price Trends
29.46
Negative
29.23
Negative
33.73
Negative
Market Momentum
0.12
Negative
51.33
Neutral
64.11
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 28.6 is above the 20-day moving average (MA) of 27.72, below the 50-day MA of 29.46, and below the 200-day MA of 33.73, indicating a neutral trend. The MACD of 0.12 indicates Negative momentum. The RSI at 51.33 is Neutral, neither overbought nor oversold. The STOCH value of 64.11 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $3.29B | 13.73 | 13.94% | 2.89% | 3.65% | 5.71% | |
65 Neutral | $751.56M | 16.87 | 23.66% | 0.88% | 9.64% | 9.93% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | $2.52B | 20.45 | 10.26% | 8.65% | -7.27% | -43.88% | |
56 Neutral | $320.82M | -1.20 | -22.10% | 3.53% | 0.46% | -477.90% | |
51 Neutral | $1.33B | 11.44 | -0.65% | 4.96% | -2.44% | -156.01% | |
45 Neutral | $1.06B | -210.19 | -7.69% | 6.37% | 3.19% | -86.21% |
* Industrials Sector Average
MAN
ManpowerGroup
28.60
-18.09
-38.74%
BBSI
Barrett Business Services
29.82
-7.89
-20.92%
NSP
Insperity
27.97
-45.52
-61.94%
KELYA
Kelly Services
8.81
-2.33
-20.92%
KFY
Korn Ferry
63.35
4.77
8.15%
RHI
Robert Half
24.88
-18.07
-42.07%
ManpowerGroup Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
ManpowerGroup Updates Executive Severance Agreements Ahead of Changes
Neutral
Feb 19, 2026
On February 13, 2026, ManpowerGroup Inc. entered into new letter agreements with CEO Jonas Prising and senior executives Becky Frankiewicz, John (“Jack”) McGinnis, and Michelle S. Nettles, covering severance, other post-employment bene...
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.