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Robert Half
(NYSE:RHI)
Select Model
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Rating:61Neutral
Price Target:
$44.00
▲(60.35% Upside)
Action:Reiterated
Date:07/15/26
RHI scores as a moderate-risk, moderate-opportunity setup: the biggest drag is deteriorated financial performance (contracting revenue and compressed margins), partially offset by a strong balance sheet and still-positive cash generation. Technicals are constructive with an upward trend, and the earnings call outlined credible near-term recovery drivers (cost actions and guidance for improvement into Q3), while valuation is mixed—an attractive yield but a relatively high P/E for a downcycle.
Positive Factors
Balance Sheet Strength
Robert Half's low leverage and sizable equity provide durable financial flexibility. This supports investment in technology and AI, funds dividends and cost actions during downturns, lowers refinancing risk, and preserves optionality to pursue M&A or return capital without immediate reliance on volatile earnings.
Negative Factors
Profitability Compression
Margins have meaningfully compressed, reflecting weaker pricing, adverse mix, and lower permanent-placement activity. Lower margins reduce free cash flow and resilience to revenue shocks, raise breakeven requirements, and mean a sustained top-line recovery is needed to restore prior earnings power.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Robert Half's low leverage and sizable equity provide durable financial flexibility. This supports investment in technology and AI, funds dividends and cost actions during downturns, lowers refinancing risk, and preserves optionality to pursue M&A or return capital without immediate reliance on volatile earnings.
Read all positive factors
Robert Half Key Performance Indicators (KPIs)
Any
Gross Profit by Segment
Reveals the profitability of different business segments, highlighting which areas contribute most to the company's earnings and where there might be opportunities or challenges.
Reveals the profitability of different business segments, highlighting which areas contribute most to the company's earnings and where there might be opportunities or challenges.
Data provided by:
The Fly
The FlyRobert Half (RHI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.28B
Dividend Yield5.65%
Average Volume (3M)2.32M
Price to Earnings (P/E)32.2
Beta (1Y)0.88
Revenue Growth-6.08%
EPS Growth-35.51%
CountryUS
Employees14,500
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)1.30
Shares Outstanding102,293,590
10 Day Avg. Volume2,421,322
30 Day Avg. Volume2,318,534
Financial Highlights & Ratios
PEG Ratio-0.45
Price to Book (P/B)2.13
Price to Sales (P/S)0.51
P/FCF Ratio10.19
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$28.00Price Target Upside2.04% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)1.32
Revenue Forecast (FY)$5.30B
Robert Half Business Overview & Revenue Model
Company Description
Robert Half Inc. provides talent solutions and business consulting services in the United States and internationally. The company operates through three segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti. The ...
How the Company Makes Money
Robert Half primarily makes money through (1) staffing and talent placement fees and (2) consulting revenues from Protiviti. In its staffing business, the company earns revenue by supplying professionals to clients on a temporary/contract basis an...
Robert Half Earnings Call Summary
Earnings Call Date:Apr 23, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Neutral
The call reflects a balanced tone: Q1 results showed continued year-over-year revenue declines and an elevated Q1 tax impact that pressured EPS, and Protiviti faced U.S. regulatory headwinds. Offsetting these negatives, management highlighted sequential improvement in talent solutions revenue trends into April, stable or improving adjusted margins and SG&A, pricing gains, strong tech consulting and non-U.S. Protiviti growth, proactive cost actions ($30M annual savings) and guidance that implies a return to year-over-year growth and double-digit EPS improvement in Q3. Given the meaningful operational actions, improving trends, and clear near-term targets for recovery, but also material present weaknesses, the positives and negatives are roughly balanced.Positive Updates
Sequential Recovery in Talent Solutions
Talent solutions delivered a second consecutive quarter of positive sequential growth on a same-day constant-currency basis, with contract revenues improving from a -7% quarter decline to -5% in March and only -1% in the first two weeks of April (all adjusted for currency and billing days). Management noted strengthening trends into April and early Q2.
Negative Updates
Year-over-Year Revenue Declines
Global enterprise revenues were $1.3B, down 4% reported and down 6% on an adjusted basis. Adjusted talent solutions revenues were down 7% YoY. Protiviti adjusted revenues were down 4% YoY with U.S. Protiviti down 6% (offset partially by non-U.S. +8%).
Read all updates
Q1-2026 Updates
Positive
Negative
Sequential Recovery in Talent Solutions
Talent solutions delivered a second consecutive quarter of positive sequential growth on a same-day constant-currency basis, with contract revenues improving from a -7% quarter decline to -5% in March and only -1% in the first two weeks of April (all adjusted for currency and billing days). Management noted strengthening trends into April and early Q2.
Read all positive updates
Company Guidance
For Q2 the company guided revenue of $1.275B–$1.375B (midpoint $1.325B, -4% y/y adjusted) and GAAP EPS of $0.20–$0.30 (ex‑$0.03 onetime severance: $0.23–$0.33); the midpoint assumes talent solutions adjusted revenue flat to -4%, Protiviti -4% to -8% and consolidated adjusted revenue -1% to -5%, and reflects a $5M Q2 severance charge (~$0.03/share) tied to cost actions that will reduce annual costs by $30M and be fully implemented by Q3. Key model assumptions: contract talent gross margin 38%–40%, Protiviti gross margin 19%–21%, consolidated gross margin 36%–39%; adjusted SG&A as % of revenue — talent 43%–45%, Protiviti 16%–18%, consolidated 34%–36%; adjusted operating income margins — talent 2%–4%, Protiviti 2%–4%, consolidated 2%–4%; tax rate 34%–36%; diluted shares 100–101M; 2026 capex + capitalized cloud $70M–$90M with Q2 spend $15M–$25M. For Q3 management expects talent solutions y/y growth of 1%–3%, Protiviti sequential revenue +0%–3% and Protiviti adjusted segment margins of 7%–9%, driving Q3 consolidated net income and EPS growth of ~8%–12% y/y.Robert Half Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
72
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.33B | 5.38B | 5.80B | 6.39B | 7.24B | 6.46B |
| Gross Profit | 1.98B | 2.00B | 2.25B | 2.58B | 3.09B | 2.70B |
| EBITDA | 267.84M | 244.38M | 446.99M | 675.55M | 1.02B | 796.96M |
| Net Income | 129.43M | 132.99M | 251.60M | 411.15M | 657.92M | 598.63M |
Balance Sheet | ||||||
| Total Assets | 2.70B | 2.86B | 2.85B | 3.01B | 2.96B | 2.95B |
| Cash, Cash Equivalents and Short-Term Investments | 278.39M | 464.44M | 537.58M | 731.74M | 658.63M | 619.00M |
| Total Debt | 251.98M | 421.28M | 402.42M | 403.34M | 389.62M | 446.37M |
| Total Liabilities | 1.47B | 1.58B | 1.48B | 1.42B | 1.40B | 1.57B |
| Stockholders Equity | 1.23B | 1.28B | 1.38B | 1.59B | 1.57B | 1.38B |
Cash Flow | ||||||
| Free Cash Flow | 217.72M | 266.81M | 354.15M | 591.01M | 622.63M | 566.52M |
| Operating Cash Flow | 266.97M | 319.96M | 410.47M | 636.88M | 683.75M | 603.14M |
| Investing Cash Flow | -56.28M | -85.70M | -87.12M | -112.25M | -116.62M | -87.61M |
| Financing Cash Flow | -286.93M | -330.31M | -496.44M | -460.54M | -509.18M | -458.59M |
Robert Half Technical Analysis
Positive
27.44
Price Trends
30.45
Positive
27.48
Positive
27.22
Positive
Market Momentum
2.38
Negative
76.75
Negative
92.71
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RHI, the sentiment is Positive. The current price of 27.44 is below the 20-day moving average (MA) of 33.48, below the 50-day MA of 30.45, and above the 200-day MA of 27.22, indicating a bullish trend. The MACD of 2.38 indicates Negative momentum. The RSI at 76.75 is Negative, neither overbought nor oversold. The STOCH value of 92.71 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RHI.
Robert Half Risk Analysis
Robert Half disclosed 29 risk factors in its most recent earnings report. Robert Half reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Robert Half Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $4.00B | 14.69 | 13.94% | 2.89% | 6.43% | 13.64% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $4.28B | 32.15 | 10.14% | 8.65% | -6.08% | -35.51% | |
60 Neutral | $555.03M | -2.02 | -24.58% | 3.53% | -7.30% | -1239.34% | |
55 Neutral | $2.43B | -149.54 | -0.81% | 4.96% | 6.72% | ― | |
52 Neutral | $1.89B | -73.96 | -32.05% | 6.37% | 3.04% | -140.22% |
* Industrials Sector Average
RHI
Robert Half
41.80
3.40
8.85%
NSP
Insperity
49.55
-3.64
-6.84%
KELYA
Kelly Services
15.32
2.99
24.22%
KFY
Korn Ferry
78.61
7.65
10.77%
MAN
ManpowerGroup
52.34
12.21
30.43%
Robert Half Corporate Events
Executive/Board ChangesShareholder Meetings
Robert Half Shareholders Back Board, Pay and Incentive Plan
Positive
May 14, 2026
At its annual stockholders’ meeting on May 13, 2026, Robert Half Inc. shareholders elected eight directors to the board, including CEO M. Keith Waddell and Chairman Emeritus Harold M. Messmer Jr., with varying but generally strong levels of ...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Robert Half Tightens Executive Severance to Align Governance
Positive
Apr 21, 2026
On April 20, 2026, Robert Half amended and restated severance agreements with its named executive officers, including M. Keith Waddell, Michael C. Buckley, Paul F. Gentzkow, Joseph A. Tarantino and Harold M. Messmer. The revisions removed provisio...
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.