ManpowerGroup Inc. (MAN) AI Stock Analysis

NYSE: MANAI research summary: business, growth, valuation, analysts, bull and bear case.

MAN AI stock analysis summary

AI Research

ManpowerGroup Inc. (MAN) is a global workforce solutions and recruitment services company with trailing twelve-month revenue of $18.92B. While the company posted a net loss of -$13.3M in FY2025, its latest quarter showed signs of operational recovery with quarterly earnings growth of 86.8% year-over-year. The stock has gained 42.8% year-to-date, trading at a trailing price-to-earnings ratio of 16.4x.

Market cap
$1.93B
Revenue (TTM)
$18.92B
P/E
16.4x
fwd 11.8x
1Y return
22.5%
S&P 500 16.8%
Avg. target
$52.33
26.1% vs last close

Bull case

  • Quarterly earnings showed strong momentum in the latest quarter ending September 30, 2026, surging 86.8% year-over-year.
  • Analysts project earnings expansion with FY2026 EPS estimated to increase 20.9% to $3.59, followed by an additional 29.8% increase in FY2027.
  • The stock trades at an attractive forward P/E of 11.8x compared to 17.2x for the median of its US-listed Industrials peers.

Bear case

  • In FY2025, operating cash flow turned negative at -$104.1M, leading to free cash flow of -$161.4M.
  • Long-term performance has been weak, with the stock delivering a 5-year return of -55.2% compared to an 83.0% gain for the S&P 500.
  • Profitability remains constrained, evidenced by a slim trailing twelve-month profit margin of just 0.6%.

What ManpowerGroup does

ManpowerGroup Inc. operates as a global workforce solutions provider across the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. Headquartered in Milwaukee, Wisconsin, the firm provides permanent, temporary, and contract placements for administrative, professional, and industrial roles under brands including Manpower and Experis. Its human resources solutions span assessment services, training and development, career management support, and large-scale outsourcing initiatives. ManpowerGroup also delivers contingent staffing, permanent recruitment, and workforce consulting across sectors such as information technology, engineering, and finance, supported by approximately 2,200 offices in 75 countries and territories.

Growth and profitability

ManpowerGroup's revenue contracted from $20.72B in FY2021 to $17.85B in FY2024 before stabilizing at $17.96B in FY2025, representing a 0.6% increase. Over the five-year period from FY2020 to FY2025, revenue CAGR was -0.0%. Annual net income decreased from $382.4M in FY2021 to -$13.3M in FY2025, resulting in a net margin of -0.1% and an operating margin of 1.3%. However, trailing twelve months performance reflected revenue of $18.92B with an operating margin of 1.7% and a profit margin of 0.6%. For the latest quarter ending September 30, 2026, quarterly revenue grew 4.4% year-over-year, while quarterly earnings expanded by 86.8%.

MAN income statement →

Balance sheet and cash flow

As of September 30, 2026, ManpowerGroup held $233.1M in cash and short-term investments against total debt of $1.46B, resulting in net debt of $1.23B. The company maintained a debt-to-equity ratio of 0.68 and a current ratio of 1.05, with total shareholders' equity of $2.14B on total assets of $8.26B. During FY2025, operating cash flow was -$104.1M and free cash flow was -$161.4M. Capital expenditures totaled $57.3M, while capital returns included $38.2M in share buybacks and $66.7M in dividends paid.

MAN balance sheet →

Valuation and performance

ManpowerGroup trades at a trailing price-to-earnings ratio of 16.4x and a forward P/E of 11.8x, both below the median of its US-listed Industrials peers at 24.8x and 17.2x, respectively. Its enterprise value-to-EBITDA multiple of 9.6x and price-to-sales ratio of 0.1x also compare favorably to peer medians of 13.9x and 1.5x. Over the past year, MAN rose 22.5%, outpacing the S&P 500's return of 16.8%. However, its 5-year return of -55.2% lags behind the S&P 500's gain of 83.0% over the same span.

MAN key metrics →

MAN dividend

ManpowerGroup offers an annual forward dividend of $1.44 per share, resulting in a dividend yield of 3.47% and a payout ratio of 33.8%. The company pays dividends on a semiannual frequency and has paid dividends for 33 consecutive years. Its last ex-dividend date occurred on June 1, 2026, though its 5-year annualized dividend growth declined 8.6%.

MAN dividend history →

What analysts expect

Wall Street sentiment on ManpowerGroup includes 3 Strong Buy, 1 Buy, and 8 Hold recommendations, with zero Sell ratings. The mean price target of $52.33 sits 26.1% above the October 16, 2026 closing price of $41.49. For the current fiscal year ending December 31, 2026, consensus estimates project EPS of $3.59 on revenue of $19.13B, implying EPS growth of 20.9%. The company beat earnings expectations in 3 of the last 4 quarters.

MAN forecast and price target →

Key risks and what to watch

  • Net debt stood at $1.23B as of September 30, 2026, against cash reserves of $233.1M.
  • Short interest remains elevated with short percent of float recorded at 13.1%.
  • The company's five-year annualized dividend growth fell 8.6%, reflecting past pressure on shareholder payouts.

AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer

About this MAN AI stock analysis

This page is an AI-written research summary of ManpowerGroup Inc. (MAN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: MAN income statement, MAN balance sheet, MAN key metrics, MAN analyst forecast, MAN chart. See the MAN stock overview for the latest quote and news.

MAN AI stock analysis FAQ

Does ManpowerGroup pay a dividend?

Yes, ManpowerGroup pays a semiannual dividend with an annual forward payout of $1.44 per share, translating to a dividend yield of 3.47%. The company has maintained consecutive dividend payments for 33 years.

What is ManpowerGroup's current valuation compared to peers?

ManpowerGroup trades at a forward P/E of 11.8x and an EV-to-EBITDA multiple of 9.6x. Both valuation metrics are below the US-listed Industrials peer medians of 17.2x and 13.9x, respectively.

What are analysts forecasting for ManpowerGroup's earnings?

For the fiscal year ending December 31, 2026, consensus estimates expect EPS to reach $3.59, representing year-over-year growth of 20.9%. For the subsequent year, analysts forecast EPS to expand 29.8% to $4.66.

How did ManpowerGroup perform in its most recent quarter?

In the quarter ending September 30, 2026, ManpowerGroup reported quarterly revenue growth of 4.4% year-over-year. Quarterly earnings rose 86.8% over the same period.

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