Kelly Services, Inc. (KELYB) Balance Sheet
KELYB 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 KELYB owns equals what it owes plus shareholders’ equity. Hover a block for its value.
KELYB financial health
Descriptive bands, not a rating. Fiscal 2025.
KELYB 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 | $10.2M2016 | $159.1M2025 | +35.7%/yr | |
| Net cash (debt) | $19.4M2016 | −$126.1M2025 | −$145.5M | |
| Working capital | $445.3M2016 | $446.5M2025 | +$1.2M | |
| Current ratio | 1.582016 | 1.542025 | −0.03 | |
| Debt / equity | 0.012016 | 0.162025 | +0.15 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KELYB assets
KELYB liabilities and equity
KELYB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
KELYB 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 | — | — | — | — | — | — | $173.2M | $135.1M | $135.1M | $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 | $135.1M | $1 | $0 |
| Other current assets | $46.6M | $71.0M | $48.9M | $69.9M | $52.8M | $61.4M | $76.5M | $0 | $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 | $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 | $0 | $0 | $0 |
| 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 | $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 | $10.2M |
| Net cash (debt) | −$126.1M | −$263.6M | $74.5M | $83.3M | $33.8M | $135.6M | −$39.5M | $33.1M | $23.1M | $19.4M |
| 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 |
| 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 | 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 |
| 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.
KELYB 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: KELYB income statement, KELYB cash flow statement, KELYB key metrics. See the KELYB stock overview for the latest quote and news.
KELYB 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.
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.