KELYA Industrials

Kelly Services, Inc.

$16.36-2.85%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Industrials
Industry: Staffing & Employment Services
Country: United States
Market cap: 568.2M USD
Enterprise value: 586.8M USD
Full-time employees: 4,900

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 0.88 vs a peer median of 0.64), though less than the overall marketbigger price swings (beta 0.88 vs peers 0.64)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #2,108 of 2,308 industrials companies (bottom 9%)

See how it ranks against its peers

Worth knowing

Borrowing rising faster than profit. Since 2022 (an unusually weak year for operating profit): debt +14457%, operating profit −572%.Since 2022: debt +14457%, operating profit −572%.
Kelly Services's debt grew 14457% since 2022 while operating profit changed −572%.
Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.
Kelly Services's fiscal-year revenue declined in each of the three years to 2025.
Valuation signals disagree. Cheaper than 49% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Kelly Services looks cheaper than 49% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $11M profit in the quarter to June 2026.
Kelly Services reported a net loss over the last twelve months, but its most recent quarter was profitable ($11M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

StockQuotient Score

23/ 100

Oct 5 24 → Nov 4 23 (-1)

Valuation

Is the price right?

15/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-3.5%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.28Sector median: 0.0377 · MAD: 0.0294

EBITDA yield-8.2%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.64Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield3.6%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.04Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield170.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

14/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ 3-yr revenue
▼ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

The loss per share widened33% base weight · Z-score -1.31Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth-6.0%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -1.63Sector median: 0.0421 · MAD: 0.0625

Revenue growth-9.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.83Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

11/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROIC
▼ Operating margin
▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-2.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.97Sector median: 0.0773 · MAD: 0.0507

Return on assets-0.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.65Sector median: 0.0311 · MAD: 0.0241

Return on invested capital-7.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.54Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin19.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity-2.0%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Debt / equity
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.88

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.85Sector median: 0.6440 · MAD: 0.2745

Current ratio1.50×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.23Sector median: 1.6180 · MAD: 0.5360

Debt / equity0.08×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.95Sector median: 0.4019 · MAD: 0.3378

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Kelly Services

Is Kelly Services getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 23/100 since Oct 28, 2026.
How is Kelly Services valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 15/100 against 2,459 industrials peers. Earnings yield -3.5% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -3.5% vs peers 3.8% (weaker than 100% of peers).
Is Kelly Services growing?: More slowly than most of its peers. Growth scores 14/100 against 2,459 industrials peers. 3-year revenue growth -6.0% vs a peer median of 4.2% (weaker than 85% of peers).3-year revenue growth -6.0% vs peers 4.2% (weaker than 85% of peers).
How profitable is Kelly Services?: Less profitable than most of its peers. Profitability scores 11/100 against 2,459 industrials peers. Return on invested capital -7.0% vs a peer median of 7.1% (weaker than 92% of peers).Return on invested capital -7.0% vs peers 7.1% (weaker than 92% of peers).
How risky is Kelly Services?: Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 0.08× vs a peer median of 0.40× (stronger than 80% of peers).Debt / equity 0.08× vs peers 0.40× (stronger than 80% of peers). Beta 0.88 vs a peer median of 0.64 (weaker than 67% of peers).Beta 0.88 vs peers 0.64 (weaker than 67% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 28, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 29, 2026

No major changes

Worth watching: Kelly Services is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.1B USD	4.1B USD	−1.5%
Net income (12 months)	−12.3M USD	−19.9M USD	+61.8%
Operating margin	-2.1%	-2.3%	−0.2 pts
Free cash flow (12 months)	66.2M USD	20.5M USD	−69.0%
Debt	130.5M USD	78.1M USD	−40.2%
Cash	25.6M USD	24.2M USD	−5.5%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Staffing & Employment Services companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	18.7%	20.4%	19.9%	20.4%	20.1%	▼ 0.3 pts
Operating margin	1.0%	0.3%	0.5%	-0.3%	-1.6%	▼ 1.3 pts
Net margin	3.2%	-1.3%	0.8%	-0.0%	-6.0%	▼ 6.0 pts
Return on assets (ROA)	5.4%	-2.3%	1.4%	-0.0%	-11.3%	▼ 11 pts
Return on equity (ROE)	11.7%	-5.0%	2.9%	-0.0%	-26.0%	▼ 26 pts
Free cash flow margin	1.5%	-1.8%	1.3%	0.4%	2.7%	▲ 2.3 pts
Current ratio	1.45×	1.52×	1.59×	1.65×	1.54×	▼ 6.6%
Debt to equity	0.00×	0.00×	0.00×	0.19×	0.10×	▼ 46%
Interest coverage	19.44×	7.05×	7.59×	-1.39×	-5.63×	▼ 306%

KELYA price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 0.88 vs a peer median of 0.64), though less than the overall marketbigger price swings (beta 0.88 vs peers 0.64)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #2,108 of 2,308 industrials companies (bottom 9%)

See how it ranks against its peers

Worth knowing

Borrowing rising faster than profit. Since 2022 (an unusually weak year for operating profit): debt +14457%, operating profit −572%.Since 2022: debt +14457%, operating profit −572%.

Kelly Services's debt grew 14457% since 2022 while operating profit changed −572%.

Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.

Kelly Services's fiscal-year revenue declined in each of the three years to 2025.

Valuation signals disagree. Cheaper than 49% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Kelly Services looks cheaper than 49% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $11M profit in the quarter to June 2026.

Kelly Services reported a net loss over the last twelve months, but its most recent quarter was profitable ($11M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

Questions investors ask about Kelly Services

Is Kelly Services getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 23/100 since Oct 28, 2026.

How is Kelly Services valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 15/100 against 2,459 industrials peers. Earnings yield -3.5% vs a peer median of 3.8% (weaker than 100% of peers).Earnings yield -3.5% vs peers 3.8% (weaker than 100% of peers).

Is Kelly Services growing?

More slowly than most of its peers. Growth scores 14/100 against 2,459 industrials peers. 3-year revenue growth -6.0% vs a peer median of 4.2% (weaker than 85% of peers).3-year revenue growth -6.0% vs peers 4.2% (weaker than 85% of peers).

How profitable is Kelly Services?

Less profitable than most of its peers. Profitability scores 11/100 against 2,459 industrials peers. Return on invested capital -7.0% vs a peer median of 7.1% (weaker than 92% of peers).Return on invested capital -7.0% vs peers 7.1% (weaker than 92% of peers).

How risky is Kelly Services?

Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity 0.08× vs a peer median of 0.40× (stronger than 80% of peers).Debt / equity 0.08× vs peers 0.40× (stronger than 80% of peers). Beta 0.88 vs a peer median of 0.64 (weaker than 67% of peers).Beta 0.88 vs peers 0.64 (weaker than 67% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.1B USD

4.1B USD

−1.5%

Net income (12 months)

−12.3M USD

−19.9M USD

+61.8%

Operating margin

-2.1%

-2.3%

−0.2 pts

Free cash flow (12 months)

66.2M USD

20.5M USD

−69.0%

Debt

130.5M USD

78.1M USD

−40.2%

Cash

25.6M USD

24.2M USD

−5.5%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

18.7%

20.4%

19.9%

20.4%

20.1%

▼ 0.3 pts

Operating margin

1.0%

0.3%

0.5%

-0.3%

-1.6%

▼ 1.3 pts

Net margin

3.2%

-1.3%

0.8%

-0.0%

-6.0%

▼ 6.0 pts

Return on assets (ROA)

5.4%

-2.3%

1.4%

-0.0%

-11.3%

▼ 11 pts

Return on equity (ROE)

11.7%

-5.0%

2.9%

-0.0%

-26.0%

▼ 26 pts

Free cash flow margin

1.5%

-1.8%

1.3%

0.4%

2.7%

▲ 2.3 pts

Current ratio

1.45×

1.52×

1.59×

1.65×

1.54×

▼ 6.6%

Debt to equity

0.00×

0.19×

0.10×

▼ 46%

Interest coverage

19.44×

7.05×

7.59×

-1.39×

-5.63×

▼ 306%