Kelly Services, Inc. (KELYA) Balance Sheet
KELYA balance sheet, 2025
December 31, 2025 · U.S. dollars$2.25B assets = $1.27B liabilities + $976.5M equity
Both columns are drawn to the same scale: what KELYA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
KELYA financial health
Descriptive bands, not a rating. Fiscal 2025.
KELYA balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.03B2016 | $2.25B2025 | +1.2%/yr | |
| Total liabilities | $1.02B2016 | $1.27B2025 | +2.6%/yr | |
| Shareholders’ equity | $1.01B2016 | $976.5M2025 | −0.4%/yr | |
| Cash & short-term investments | $29.6M2016 | $33.0M2025 | +1.2%/yr | |
| Total debt | $10.2M2017 | $159.1M2025 | +41.0%/yr | |
| Net cash (debt) | $23.1M2017 | −$126.1M2025 | −$149.2M | |
| Working capital | $445.3M2016 | $446.5M2025 | +$1.2M | |
| Book value per share | $26.402016 | $27.822025 | +0.6%/yr | |
| Current ratio | 1.582016 | 1.542025 | −0.03 | |
| Debt / equity | 0.012017 | 0.162025 | +0.15 | |
| Shares outstanding | 38.4M2016 | 35.1M2025 | −1.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KELYA assets
KELYA liabilities and equity
KELYA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
KELYA balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $33.0M | $39.0M | $125.8M | $153.7M | $112.7M | $223.0M | $25.8M | $35.3M | $33.3M | $29.6M |
| Cash & equivalents | $33.0M | $39.0M | $125.8M | $153.7M | $112.7M | $223.0M | $25.8M | $35.3M | $33.3M | $29.6M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $1.19B | $1.26B | $1.16B | $1.49B | $1.42B | $1.27B | $1.28B | $1.29B | $1.29B | $1.14B |
| Inventory | $0 | $0 | $291.3M | $0 | $1 | $1 | $21.2M | $0 | $1 | $0 |
| Other current assets | $46.6M | $71.0M | $48.9M | $69.9M | $52.8M | $61.4M | $76.5M | $71.9M | $62.4M | $47.9M |
| Total current assets | $1.27B | $1.37B | $1.63B | $1.72B | $1.59B | $1.55B | $1.41B | $1.40B | $1.38B | $1.22B |
| Property, plant & equipment (net) | $63.4M | $72.8M | $71.6M | $94.6M | $111.1M | $124.2M | $103.5M | $86.3M | $86.1M | $80.8M |
| Goodwill & intangible assets | $428.3M | $578.4M | $288.8M | $323.5M | $247.5M | $59.1M | $177.7M | $123.8M | $125.3M | $89.0M |
| Long-term investments | $0 | $11.0M | $0 | $0 | $387.7M | $118.5M | $117.2M | $121.3M | $117.4M | $114.8M |
| Other non-current assets | $490.6M | $604.6M | $594.6M | $530.5M | $559.2M | $710.5M | $676.5M | $582.5M | $665.1M | $528.9M |
| Total assets | $2.25B | $2.63B | $2.58B | $2.66B | $2.89B | $2.56B | $2.48B | $2.31B | $2.38B | $2.03B |
| Liabilities | ||||||||||
| Accounts payable | $631.4M | $613.8M | $646.1M | $723.3M | $687.2M | $536.8M | $503.6M | $540.6M | $537.7M | $455.1M |
| Short-term debt | $12.3M | $12.3M | $8.4M | $15.4M | $17.5M | $19.9M | $22.0M | $2.2M | $10.2M | — |
| Deferred revenue | — | — | $195.5M | — | — | — | — | — | — | — |
| Total current liabilities | $821.8M | $826.5M | $1.02B | $1.13B | $1.10B | $925.6M | $884.1M | $897.5M | $924.3M | $770.5M |
| Long-term debt | $101.9M | $239.4M | $0 | $0 | $0 | $0 | $2.1M | $0 | $0 | $0 |
| Lease obligations | $57.2M | $63.2M | $51.3M | $69.7M | $78.9M | $87.1M | $63.4M | — | — | — |
| Other long-term liabilities | $350.4M | $331.8M | $308.0M | $280.8M | $462.8M | $433.3M | $329.9M | $257.4M | $300.5M | $245.0M |
| Total liabilities | $1.27B | $1.40B | $1.33B | $1.41B | $1.56B | $1.36B | $1.22B | $1.15B | $1.22B | $1.02B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $38.5M | $38.5M | $38.5M | $38.5M | $40.1M | $40.1M | $40.1M | $40.1M | $40.1M | $40.1M |
| Retained earnings (deficit) | $965.1M | $1.23B | $1.24B | $1.22B | $1.31B | $1.16B | $1.24B | $1.14B | $983.6M | $925.4M |
| Treasury stock | — | — | — | −$20.1M | −$15.1M | −$17.1M | −$20.9M | −$26.0M | −$35.2M | −$39.0M |
| Accumulated other comprehensive income | $300,000 | −$6.9M | $200,000 | −$8.5M | −$27.7M | −$4.2M | −$15.8M | −$17.1M | $130.8M | $58.7M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $976.5M | $1.23B | $1.25B | $1.25B | $1.34B | $1.20B | $1.26B | $1.16B | $1.15B | $1.01B |
| Key figures | ||||||||||
| Total debt | $159.1M | $302.6M | $51.3M | $70.4M | $78.9M | $87.4M | $65.3M | $2.2M | $10.2M | — |
| Net cash (debt) | −$126.1M | −$263.6M | $74.5M | $83.3M | $33.8M | $135.6M | −$39.5M | $33.1M | $23.1M | — |
| Working capital | $446.5M | $539.0M | $606.7M | $586.4M | $493.5M | $624.0M | $521.6M | $503.0M | $458.1M | $445.3M |
| Tangible book value | $548.2M | $656.2M | $964.9M | $930.7M | $1.09B | $1.14B | $1.09B | $1.04B | $1.03B | $924.8M |
| Book value per share | $27.82 | $34.78 | $34.54 | $32.92 | $33.83 | $30.61 | $32.26 | $29.65 | $29.53 | $26.40 |
| Shares outstanding | 35.1M | 35.5M | 36.3M | 38.1M | 39.5M | 39.3M | 39.2M | 39.1M | 39.0M | 38.4M |
| Current ratio | 1.54 | 1.65 | 1.59 | 1.52 | 1.45 | 1.67 | 1.59 | 1.56 | 1.50 | 1.58 |
| Quick ratio | 1.49 | 1.57 | 1.26 | 1.46 | 1.40 | 1.61 | 1.48 | 1.48 | 1.43 | 1.52 |
| Debt / equity | 0.16 | 0.25 | 0.04 | 0.06 | 0.06 | 0.07 | 0.05 | 0.00 | 0.01 | — |
| Equity / assets | 43.4% | 46.9% | 48.6% | 47.1% | 46.2% | 47.0% | 51.0% | 50.1% | 48.5% | 50.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $24.2M | $25.6M | $33.0M | $30.1M | $18.0M | $28.2M | $39.0M | $32.8M | $38.2M | $200.7M | $125.8M | $117.2M |
| Cash & equivalents | $24.2M | $25.6M | $33.0M | $30.1M | $18.0M | $28.2M | $39.0M | $32.8M | $38.2M | $200.7M | $125.8M | $117.2M |
| Short-term investments | — | — | — | — | — | — | — | $1 | — | — | — | — |
| Receivables | $1.22B | $1.22B | $1.19B | $1.20B | $1.18B | $1.25B | $1.26B | $1.25B | $1.19B | $1.15B | $1.16B | $1.39B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 | $291.3M | $1 |
| Other current assets | $47.7M | $57.2M | $46.6M | $54.1M | $54.0M | $71.9M | $71.0M | $76.1M | $78.7M | $83.2M | $48.9M | $86.1M |
| Total current assets | $1.30B | $1.30B | $1.27B | $1.28B | $1.25B | $1.35B | $1.37B | $1.36B | $1.31B | $1.44B | $1.63B | $1.59B |
| Property, plant & equipment (net) | $53.5M | $56.4M | $63.4M | $66.4M | $67.3M | $69.6M | $72.8M | $81.7M | $79.9M | $71.8M | $71.6M | $88.7M |
| Goodwill & intangible assets | $413.6M | $420.9M | $428.3M | $435.7M | $545.1M | $552.5M | $578.4M | $638.3M | $644.9M | $283.6M | $288.8M | $151.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $11.0M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $517.1M | $478.9M | $490.6M | $611.2M | $646.4M | $621.8M | $604.6M | $611.4M | $592.6M | $603.2M | $594.6M | $718.7M |
| Total assets | $2.28B | $2.25B | $2.25B | $2.39B | $2.51B | $2.59B | $2.63B | $2.69B | $2.63B | $2.40B | $2.58B | $2.55B |
| Liabilities | ||||||||||||
| Accounts payable | $661.6M | $621.6M | $631.4M | $601.9M | $613.8M | $597.0M | $613.8M | $604.7M | $594.8M | $581.2M | $646.1M | $647.5M |
| Short-term debt | $10.8M | $11.4M | $12.3M | $12.4M | $12.1M | $12.2M | $12.3M | $12.1M | $12.4M | $8.4M | $8.4M | $13.2M |
| Deferred revenue | — | — | — | — | — | — | — | −$9.0M | $18.1M | $20.0M | $195.5M | −$647.5M |
| Total current liabilities | $866.6M | $818.6M | $821.8M | $806.5M | $826.7M | $822.9M | $826.5M | $841.0M | $812.3M | $797.5M | $1.02B | $1.03B |
| Long-term debt | $78.1M | $130.5M | $101.9M | $118.4M | $74.3M | $204.6M | $239.4M | $228.2M | $210.4M | $0 | $0 | $0 |
| Lease obligations | $50.6M | $53.4M | $57.2M | $59.0M | $59.6M | $61.5M | $63.2M | $63.7M | $62.0M | $50.4M | $51.3M | $64.7M |
| Other long-term liabilities | $354.0M | $337.4M | $350.4M | $353.1M | $344.8M | $326.9M | $331.8M | $337.8M | $325.6M | $321.1M | $308.0M | $289.0M |
| Total liabilities | $1.30B | $1.29B | $1.27B | $1.28B | $1.25B | $1.35B | $1.40B | $1.41B | $1.35B | $1.12B | $1.33B | $1.31B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $38.5M | $38.5M | $38.5M | $38.5M | $38.5M | $38.5M | $38.5M | $38.5M | $38.5M | $38.5M | $38.5M | $38.5M |
| Retained earnings (deficit) | $965.1M | $956.5M | $965.1M | $1.10B | $1.25B | $1.23B | $1.23B | $1.26B | $1.27B | $1.26B | $1.24B | $1.23B |
| Accumulated other comprehensive income | −$900,000 | −$900,000 | $300,000 | −$800,000 | −$600,000 | −$5.6M | −$6.9M | −$1.3M | −$2.5M | −$500,000 | $200,000 | −$7.7M |
| Total shareholders' equity | $982.0M | $968.5M | $976.5M | $1.12B | $1.27B | $1.24B | $1.23B | $1.28B | $1.28B | $1.28B | $1.25B | $1.24B |
| Key figures | ||||||||||||
| Total debt | $128.7M | $183.9M | $159.1M | $177.5M | $133.9M | $266.1M | $302.6M | $292.1M | $272.4M | $50.4M | $51.3M | $64.7M |
| Net cash (debt) | −$104.5M | −$158.3M | −$126.1M | −$147.4M | −$115.9M | −$237.9M | −$263.6M | −$259.3M | −$234.2M | $150.3M | $74.5M | $52.5M |
| Working capital | $429.9M | $480.2M | $446.5M | $473.3M | $426.4M | $528.1M | $539.0M | $516.5M | $498.5M | $639.3M | $606.7M | $566.2M |
| Tangible book value | $568.4M | $547.6M | $548.2M | $679.4M | $721.0M | $688.0M | $656.2M | $643.6M | $635.0M | $993.2M | $964.9M | $1.08B |
| Book value per share | $27.90 | $28.15 | $27.98 | $31.59 | $35.46 | $34.94 | $34.78 | $35.61 | $35.65 | $35.66 | $35.12 | $34.52 |
| Shares outstanding | 35.2M | 34.4M | 34.9M | 35.3M | 35.7M | 35.5M | 35.5M | 36.0M | 35.9M | 35.8M | 35.7M | 35.8M |
| Current ratio | 1.50 | 1.59 | 1.54 | 1.59 | 1.52 | 1.64 | 1.65 | 1.61 | 1.61 | 1.80 | 1.59 | 1.55 |
| Quick ratio | 1.44 | 1.52 | 1.49 | 1.52 | 1.45 | 1.55 | 1.57 | 1.52 | 1.52 | 1.70 | 1.26 | 1.47 |
| Debt / equity | 0.13 | 0.19 | 0.16 | 0.16 | 0.11 | 0.21 | 0.25 | 0.23 | 0.21 | 0.04 | 0.04 | 0.05 |
| Equity / assets | 43.1% | 42.9% | 43.4% | 46.6% | 50.4% | 47.8% | 46.9% | 47.7% | 48.7% | 53.3% | 48.6% | 48.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 12, 2026); data from EODHD.
KELYA financial position
At the end of fiscal 2025 (December 31, 2025), Kelly Services had total assets of $2.3 billion (down 14.5% from a year earlier), total liabilities of $1.3 billion and shareholders' equity of $976.5 million. It held $33.0 million in cash and short-term investments against $159.1 million of debt, net debt of $126.1 million. Its current ratio was 1.54. In the latest quarter (ended June 30, 2026) total assets were $2.3 billion and equity $982.0 million.
Related: KELYA income statement, KELYA cash flow statement, KELYA key metrics. See the KELYA stock overview for the latest quote and news.
KELYA balance sheet FAQ
What are Kelly Services's total assets?
Kelly Services reported total assets of $2.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.6 billion a year earlier.
How much debt does Kelly Services have?
Kelly Services had $159.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.16.
How much cash does Kelly Services have?
Kelly Services held $33.0 million in cash and short-term investments at the end of fiscal 2025; with $159.1 million of debt that is net debt of $126.1 million.
What is Kelly Services's book value?
Kelly Services's shareholders' equity (book value) was $976.5 million at the end of fiscal 2025, or $27.82 per share.
What is Kelly Services's current ratio?
Kelly Services had current assets of $1.3 billion and current liabilities of $821.8 million, a current ratio of 1.54 (it can cover its short-term obligations).
How much goodwill does Kelly Services have?
Kelly Services carried $428.3 million of goodwill and intangible assets, 19.0% of total assets, at the end of fiscal 2025.