Returning more cash than it generates. Paid out $715M vs $367M of free cash flow over the 3 fiscal years to 2025.
ManpowerGroup returned $715M to shareholders over three years, 195% of the free cash flow it produced. That gap has to be covered by cash reserves or new debt, which can't last indefinitely.
Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
ManpowerGroup made a profit per share in its latest year after a loss the year before.
Borrowing rising faster than profit. Since 2022: debt +70%, operating profit −74%.
ManpowerGroup's debt grew 70% since 2022 while operating profit changed −74%.
Sales growing faster than profits. Since 2022: revenue −9.4%, operating profit −74%.
Since 2022, ManpowerGroup's revenue changed −9.4% while operating profit fell 74%: costs rose faster than sales.
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 68 → 67
Peer companies moved-1
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
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 ManpowerGroup
Is ManpowerGroup getting weaker?
Its latest SEC filing (Aug 7, 2026) got stronger: turned profitable over the last 12 months; free cash flow turned positive over the last 12 months. Its overall score is unchanged at 52/100 since Oct 28, 2026.
How is ManpowerGroup valued vs its peers?
Priced lower than most peers relative to what it earns. Valuation scores 67/100 against 2,459 industrials peers.EBITDA yield 12.6% vs a peer median of 6.9% (stronger than 78% of peers).EBITDA yield 12.6% vs peers 6.9% (stronger than 78% of peers).
Is ManpowerGroup growing?
Yes, faster than most of its peers. Growth scores 75/100 against 2,459 industrials peers.3-year revenue growth -0.9% vs a peer median of 4.2% (weaker than 72% of peers).3-year revenue growth -0.9% vs peers 4.2% (weaker than 72% of peers).
How profitable is ManpowerGroup?
Less profitable than most of its peers. Profitability scores 28/100 against 2,459 industrials peers.Operating margin 1.5% vs a peer median of 7.7% (weaker than 82% of peers).Operating margin 1.5% vs peers 7.7% (weaker than 82% of peers).
How risky is ManpowerGroup?
Moderate risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings.Current ratio 1.04× vs a peer median of 1.62× (weaker than 82% of peers).Current ratio 1.04× vs peers 1.62× (weaker than 82% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026
Got stronger
Turned profitable over the last 12 months
Free cash flow turned positive over the last 12 months
Previous quarter
Latest quarter
Change
Revenue (12 months)
18.4B USD
18.7B USD
+1.9%
Net income (12 months)
−16.4M USD
104.2M USD
turned positive
Operating margin
0.8%
1.5%
+0.7 pts
Free cash flow (12 months)
−129.8M USD
68.9M USD
turned positive
Debt
1.1B USD
1.0B USD
−9.0%
Cash
224.9M USD
180.6M USD
−19.7%
Shares outstanding
46.5M
46.5M
−0.0%
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
ManpowerGroup looks cheaper than most of its peers on our valuation measures, while the Industrials sector as a whole is valued high by its own standards since 2016. Both can be true at once.
Shown for Industrials: too few Staffing & Employment Services companies have a long enough history of their own.
Describes valuations since 2016; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, EBITDA, sales and free cash flow yields. How this works
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
16.4%
18.0%
17.8%
17.3%
16.7%
▼ 0.6 pts
Operating margin
2.8%
2.9%
1.4%
1.7%
0.8%
▼ 0.9 pts
Net margin
1.8%
1.9%
0.5%
0.8%
-0.1%
▼ 0.9 pts
Return on assets (ROA)
3.9%
4.1%
1.0%
1.8%
-0.1%
▼ 1.9 pts
Return on equity (ROE)
15.2%
15.3%
4.0%
6.8%
-0.6%
▼ 7.5 pts
Free cash flow margin
2.8%
1.8%
1.4%
1.4%
-0.9%
▼ 2.3 pts
Current ratio
1.11×
1.21×
1.16×
1.12×
1.11×
▼ 1.2%
Debt to equity
0.44×
0.40×
0.45×
0.45×
0.81×
▲ 82%
Interest coverage
15.09×
12.40×
3.21×
3.40×
1.57×
▼ 54%
MAN price history
Price history is added with the daily price update and will appear after the next one.