ManpowerGroup Inc. (MAN) stock analysis

P/E against its history

Not enough price and earnings history to compare.

P/E against the industry

Needs positive earnings and enough profitable companies in the industry.

EV/EBITDA below its 5-year median

ManpowerGroup's EV/EBITDA of 7.8 is below its 5-year median of 8.6.

P/B below the industry

ManpowerGroup's price-to-book of 1.00 is below the Personnel Supply Services median of 1.99.

Trading below fair value

The share price of $46.11 is below our fair value estimate of $54.00.

Margin of safety under 20%

The price is 14.6% below fair value, less than the 20% cushion we look for.

Revenue growing under 10% a year

Revenue grew -3.2% a year over the last three fiscal years, short of the 10% we look for.

EPS growth over 3 years

Needs positive EPS three years ago and today.

Earnings acceleration

Needs positive net income now, a year ago and five years ago.

Growing faster than the industry

Revenue grew 7.3% over the last twelve months; the Personnel Supply Services median is 2.1%.

Guidance issued

The latest outlook (fourth quarter effective tax rate, Oct 15, 2026) was issued for the first time, so it neither adds nor takes away points.

Gross margin slipping

Gross margin was 16.1% over the last twelve months, against 16.9% a year earlier.

Return on equity

Needs positive equity and five years of results.

Return on capital under 10%

Return on invested capital was 5.1%, below the 10% that usually covers the cost of capital.

Return on equity against the industry

Needs positive equity.

Earnings over 5 years

Needs positive net income five years ago and in the latest year.

Net margin against its history

Needs five years of revenue and net income.

Net margin against the industry

Needs revenue and net income.

High debt

Debt is 51.6% of shareholders' equity, above the 40% we consider low.

Debt rising against equity

Debt to equity rose from 46.0% five years ago to 51.6%.

Debt not well covered by cash flow

Operating cash flow over the last twelve months equals 3.8% of total debt; we look for at least 20%.

Interest well covered

No meaningful interest expense to cover.

Short-term assets cover short-term debts

Current assets are 1.05 times current liabilities.

Low bankruptcy risk

The Altman Z-score is 3.30; above 3 is the safe zone and below 1.8 the distress zone.

Pays a dividend

ManpowerGroup paid dividends worth 3.1% of the share price over the last twelve months.

Yield below Treasuries

The 3.1% yield is below the 4.4% on a 1-year Treasury.

Yield below the top quarter

The top quarter of US dividend payers yield 3.8% or more; ManpowerGroup yields 3.1%.

Dividend was cut

The dividend per share fell by more than 10% at least once in the last 10 fiscal years.

Earnings cover

Needs dividends paid and net income.

Cash-flow cover

Needs dividends paid and free cash flow.