ASGN Incorporated (ASGN) 10-Year Financial Performance & Capital Metrics

ASGN • • Industrial / General

TechnologyIT ServicesIT Consulting & Professional ServicesSpecialized Digital Services

AboutASGN Incorporated provides information technology services and professional solutions in the technology, digital, and creative fields for commercial and government sectors in the United States. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to Fortune 1000 and mid-market clients. This segment also offers workforce mobilization, modern enterprise, and digital innovation IT consulting services; and cloud, data and analytics, and digital transformation solutions. The Federal Government Segment provides mission-critical solutions to the department of defense, intelligence agencies, and civilian agencies. This segment offers cloud, cybersecurity, artificial intelligence, machine learning, application and IT modernization, and science and engineering solutions. The company was formerly known as On Assignment, Inc. and changed its name to ASGN Incorporated in April 2018. ASGN Incorporated was incorporated in 1985 and is based in Glen Allen, Virginia.Show more

Revenue $4.1B -7.9%
EBITDA $401M -13.7%
Net Income $175M -20.1%
EPS (Diluted) 3.83 -14.9%
Gross Margin 28.87% +0.4%
EBITDA Margin 9.77% -6.3%
Operating Margin 7.42% -9.2%
Net Margin 4.27% -13.3%
ROE 9.55% -17.4%
ROIC 8.31% -12.1%
Debt/Equity 0.62 +6.0%
Interest Coverage 4.73 -13.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 6.2% through buybacks
✓Trading at only 1.3x book value
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.04%

5Y3.72%

3Y0.74%

TTM-4.86%

Profit (Net Income) CAGR

10Y8.54%

5Y0.06%

3Y-24.67%

TTM-28.62%

EPS CAGR

10Y10.43%

5Y3.21%

3Y-4.01%

TTM-24.81%

ROCE

10Y Avg11.77%

5Y Avg11.35%

3Y Avg11.53%

Latest9.8%

Peer Comparison

Specialized Digital Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GDYNGrid Dynamics Holdings, Inc.	794.62M	9.37	185.54	12.04%	3.42%	2.58%	2.32%	0.02
EPAMEPAM Systems, Inc.	11.89B	215.24	27.45	0.8%	7.01%	9.97%	4.43%	0.04
KDKyndryl Holdings, Inc.	6.18B	27.05	25.76	-6.2%	3.78%	42.57%	5.45%	2.97
GLOBGlobant S.A.	2.97B	67.48	18.14	15.26%	4.01%	4.45%	7.43%	0.20
CDWCDW Corporation	17.22B	132.29	16.60	-1.77%	4.76%	41.39%	6.7%	2.55
ASGNASGN Incorporated	2.14B	50.02	13.06	-7.88%	3.28%	7.13%	17.08%	0.62
MASK3 E Network Technology Group Ltd Class A Ordinary Shares	7.31M	0.32	2.31	172.95%	40.98%	76.44%	12.72%	0.15
XRXXerox Holdings Corporation	344.43M	2.69	-0.25	-9.66%	-14.79%	-164.48%	100%	2.75

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.07B	2.44B	2.63B	3.4B	3.42B	3.5B	4.01B	4.58B	4.45B	4.1B
Revenue Growth %	0.2%	0.18%	0.08%	0.29%	0%	0.03%	0.14%	0.14%	-0.03%	-0.08%
Cost of Goods Sold+	1.39B	1.65B	1.78B	2.38B	2.44B	2.55B	2.87B	3.21B	3.17B	2.92B
COGS % of Revenue	0.67%	0.67%	0.68%	0.7%	0.72%	0.73%	0.72%	0.7%	0.71%	0.71%
Gross Profit+	678.75M	795.18M	850.07M	1.02B	971.5M	947.2M	1.14B	1.37B	1.28B	1.18B
Gross Margin %	0.33%	0.33%	0.32%	0.3%	0.28%	0.27%	0.28%	0.3%	0.29%	0.29%
Gross Profit Growth %	0.22%	0.17%	0.07%	0.2%	-0.05%	-0.03%	0.21%	0.2%	-0.07%	-0.08%
Operating Expenses+	526.64M	605.46M	625.34M	763.5M	695.3M	666M	791.5M	960.1M	915.9M	879.3M
OpEx % of Revenue	0.26%	0.25%	0.24%	0.22%	0.2%	0.19%	0.2%	0.21%	0.21%	0.21%
Selling, General & Admin	492.17M	565.83M	591.89M	705M	645M	615M	735.8M	895M	844.2M	821.2M
SG&A % of Revenue	0.24%	0.23%	0.23%	0.21%	0.19%	0.18%	0.18%	0.2%	0.19%	0.2%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	34.47M	39.63M	33.44M	58.51M	50.3M	51M	55.7M	65.1M	71.7M	58.1M
Operating Income+	152.11M	189.73M	224.74M	260.15M	276.2M	281.2M	350.9M	409.5M	364.1M	304.4M
Operating Margin %	0.07%	0.08%	0.09%	0.08%	0.08%	0.08%	0.09%	0.09%	0.08%	0.07%
Operating Income Growth %	0.1%	0.25%	0.18%	0.16%	0.06%	0.02%	0.25%	0.17%	-0.11%	-0.16%
EBITDA+	186.57M	251.97M	283.34M	355.12M	367.4M	370.9M	440.5M	500.9M	464.4M	400.7M
EBITDA Margin %	0.09%	0.1%	0.11%	0.1%	0.11%	0.11%	0.11%	0.11%	0.1%	0.1%
EBITDA Growth %	0.06%	0.35%	0.12%	0.25%	0.03%	0.01%	0.19%	0.14%	-0.07%	-0.14%
D&A (Non-Cash Add-back)	34.47M	62.25M	58.6M	94.97M	91.2M	89.7M	89.6M	91.4M	100.3M	96.3M
EBIT	148.36M	189.73M	224.74M	260.15M	257.3M	281.2M	350.9M	409.5M	364.1M	304.4M
Net Interest Income+	-26.44M	-32.33M	-27.6M	-56M	-52.9M	-39.7M	-37.5M	-45.9M	-66.4M	-64.3M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	26.44M	32.33M	27.64M	55.97M	52.9M	39.7M	37.5M	45.9M	66.4M	64.3M
Other Income/Expense	-30.2M	-32.33M	-27.61M	-55.97M	-71.8M	-39.7M	-37.5M	-45.9M	-66.4M	-64.3M
Pretax Income+	121.91M	157.4M	197.09M	204.18M	204.4M	241.5M	313.4M	363.6M	297.7M	240.1M
Pretax Margin %	0.06%	0.06%	0.08%	0.06%	0.06%	0.07%	0.08%	0.08%	0.07%	0.06%
Income Tax+	50.49M	60.2M	39.22M	46.19M	54.7M	63.9M	81.6M	96.7M	78.4M	64.9M
Effective Tax Rate %	0.8%	0.62%	0.8%	0.77%	0.85%	0.83%	1.31%	0.74%	0.74%	0.73%
Net Income+	97.65M	97.2M	157.68M	157.71M	174.7M	200.3M	409.9M	268.1M	219.3M	175.2M
Net Margin %	0.05%	0.04%	0.06%	0.05%	0.05%	0.06%	0.1%	0.06%	0.05%	0.04%
Net Income Growth %	0.27%	-0%	0.62%	0%	0.11%	0.15%	1.05%	-0.35%	-0.18%	-0.2%
Net Income (Continuing)	71.42M	97.2M	157.9M	158M	149.7M	177.6M	231.8M	266.9M	219.3M	175.2M
Discontinued Operations	26.23M	5K	0	0	25M	22.7M	178.1M	1.2M	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.84	1.81	2.97	2.97	3.27	3.76	4.33	5.23	4.50	3.83
EPS Growth %	0.3%	-0.02%	0.64%	0%	0.1%	0.15%	0.15%	0.21%	-0.14%	-0.15%
EPS (Basic)	1.87	1.83	3.01	3.02	3.31	3.80	4.40	5.30	4.54	3.88
Diluted Shares Outstanding	53.01M	53.75M	53.2M	53.1M	53.4M	53.3M	53.5M	51.3M	48.7M	45.7M
Basic Shares Outstanding	52.26M	53.19M	52.5M	52.3M	52.8M	52.7M	52.7M	50.6M	48.3M	45.2M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	414.21M	437.52M	499.52M	686.37M	791.5M	994.4M	1.31B	981.1M	973.3M	917.7M
Cash & Short-Term Investments	23.87M	27.04M	36.67M	41.83M	95.2M	274.4M	529.6M	70.3M	175.9M	205.2M
Cash Only	23.87M	27.04M	36.67M	41.83M	95.2M	274.4M	529.6M	70.3M	175.9M	205.2M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	368.05M	400.86M	441.24M	628.84M	662.5M	602.8M	749.4M	893.5M	741.5M	695.4M
Days Sales Outstanding	65.05	59.95	61.33	67.51	70.8	62.83	68.22	71.19	60.81	61.91
Inventory	12.69M	6.33M	18.59M	11.45M	0	0	0	0	0	0
Days Inventory Outstanding	3.34	1.4	3.82	1.76	-	-	-	-	-	-
Other Current Assets	22.84M	17.29M	15.73M	19.3M	4.4M	94.7M	-10.8M	-22.6M	19.1M	17.1M
Total Non-Current Assets+	1.35B	1.32B	1.31B	2B	2.15B	2.28B	2.19B	2.6B	2.57B	2.51B
Property, Plant & Equipment	53.2M	56.94M	58M	79.12M	168.3M	127.9M	112.1M	117.4M	145.6M	144.5M
Fixed Asset Turnover	38.82x	42.86x	45.28x	42.97x	20.29x	27.38x	35.77x	39.02x	30.57x	28.37x
Goodwill	874.91M	873.51M	894.1M	1.42B	1.49B	1.42B	1.57B	1.89B	1.89B	1.89B
Intangible Assets	417.93M	377.73M	352.77M	488.69M	476.5M	469.9M	487.9M	569.6M	497.9M	439.8M
Long-Term Investments	-114.73M	-131.22M	-127.43M	-158.96M	0	0	0	0	0	0
Other Non-Current Assets	60.27M	63.9M	63.74M	91.71M	18.2M	265.1M	23.9M	25.6M	33.7M	33.9M
Total Assets+	1.77B	1.75B	1.81B	2.69B	2.94B	3.28B	3.5B	3.59B	3.54B	3.43B
Asset Turnover	1.17x	1.39x	1.45x	1.26x	1.16x	1.07x	1.14x	1.28x	1.26x	1.20x
Asset Growth %	0.39%	-0.01%	0.03%	0.48%	0.09%	0.11%	0.07%	0.02%	-0.01%	-0.03%
Total Current Liabilities+	160.35M	162.5M	166.72M	308.25M	340.9M	416.2M	450.9M	441.9M	394.1M	367.1M
Accounts Payable	9.13M	6.27M	6.87M	43.13M	39.2M	38.3M	20.1M	35.2M	34M	27.2M
Days Payables Outstanding	2.4	1.39	1.41	6.62	5.85	5.47	2.56	4	3.91	3.4
Short-Term Debt	0	0	0	0	25.8M	24.3M	0	0	0	0
Deferred Revenue (Current)	500K	0	0	0	1000K	1000K	0	0	0	0
Other Current Liabilities	48.1M	28.85M	30.24M	66.91M	63.1M	96.7M	102M	98.7M	104.1M	320.4M
Current Ratio	2.58x	2.69x	3.00x	2.23x	2.32x	2.39x	2.90x	2.22x	2.47x	2.50x
Quick Ratio	2.50x	2.65x	2.88x	2.19x	2.32x	2.39x	2.90x	2.22x	2.47x	2.50x
Cash Conversion Cycle	65.99	59.97	63.74	62.65	-	-	-	-	-	-
Total Non-Current Liabilities+	822.16M	721.23M	652.02M	1.2B	1.22B	1.27B	1.19B	1.24B	1.26B	1.29B
Long-Term Debt	755.51M	640.36M	575.21M	1.1B	1.03B	1.03B	1.03B	1.07B	1.04B	1.03B
Capital Lease Obligations	0	0	0	0	75.7M	55.4M	40.2M	32.3M	49.1M	46.9M
Deferred Tax Liabilities	61.54M	74.28M	69.44M	79.83M	100M	109.8M	89M	129.2M	156M	187.5M
Other Non-Current Liabilities	5.12M	6.59M	7.37M	97.12M	16.3M	76.1M	23.4M	14.4M	16.7M	17.3M
Total Liabilities	982.51M	883.73M	818.74M	1.51B	1.57B	1.69B	1.64B	1.68B	1.65B	1.65B
Total Debt+	755.51M	640.36M	575.21M	1.1B	1.13B	1.11B	1.1B	1.12B	1.11B	1.1B
Net Debt	731.64M	613.31M	538.55M	1.06B	1.04B	838.7M	567.8M	1.05B	929.3M	894.7M
Debt / Equity	0.96x	0.74x	0.58x	0.93x	0.82x	0.70x	0.59x	0.59x	0.58x	0.62x
Debt / EBITDA	4.05x	2.54x	2.03x	3.10x	3.09x	3.00x	2.49x	2.24x	2.38x	2.74x
Net Debt / EBITDA	3.92x	2.43x	1.90x	2.98x	2.83x	2.26x	1.29x	2.10x	2.00x	2.23x
Interest Coverage	5.75x	5.87x	8.13x	4.65x	5.22x	7.08x	9.36x	8.92x	5.48x	4.73x
Total Equity+	784.79M	868.94M	991.39M	1.18B	1.38B	1.59B	1.87B	1.9B	1.89B	1.78B
Equity Growth %	0.24%	0.11%	0.14%	0.19%	0.16%	0.15%	0.18%	0.02%	-0%	-0.06%
Book Value per Share	14.81	16.17	18.64	22.26	25.77	29.78	34.87	37.06	38.85	38.88
Total Shareholders' Equity	784.79M	868.94M	991.39M	1.18B	1.38B	1.59B	1.87B	1.9B	1.89B	1.78B
Common Stock	530K	527K	521K	525K	500K	500K	500K	500K	500K	400K
Retained Earnings	249.57M	315.57M	428.42M	586.13M	744.7M	926.3M	1.17B	1.2B	1.2B	1.1B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-8.16M	-10.02M	-3.64M	-6.34M	-7M	-1M	-300K	-2.7M	0	-5M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	117.49M	196.25M	196.45M	287.45M	313.2M	424.8M	193.7M	307.8M	456.9M	400M
Operating CF Margin %	0.06%	0.08%	0.07%	0.08%	0.09%	0.12%	0.05%	0.07%	0.1%	0.1%
Operating CF Growth %	0.22%	0.67%	0%	0.46%	0.09%	0.36%	-0.54%	0.59%	0.48%	-0.12%
Net Income	97.65M	97.2M	157.68M	157.71M	174.7M	177.6M	409.9M	268.1M	219.3M	175.2M
Depreciation & Amortization	51.57M	62.25M	58.6M	94.97M	91.2M	89.7M	89.6M	91.4M	100.3M	96.3M
Stock-Based Compensation	22.02M	27.02M	24.04M	31.49M	39.3M	0	52.7M	49.3M	44M	42.3M
Deferred Taxes	11.55M	12.83M	-5.14M	11.21M	18.9M	1.3M	-19.7M	31.5M	26.9M	31.2M
Other Non-Cash Items	-8.76M	16.04M	21.57M	18.52M	34.9M	60.9M	-210.6M	8.2M	10.3M	8.9M
Working Capital Changes	-56.53M	-19.1M	-60.3M	-26.45M	-45.8M	95.3M	-128.2M	-140.7M	56.1M	46.1M
Change in Receivables	-53.77M	-43.29M	-50.46M	-90.67M	-24.3M	-12.9M	-111.1M	-116.3M	111M	87M
Change in Inventory	-7.34M	28.55M	-10.21M	42.34M	0	0	0	0	0	0
Change in Payables	1.68M	-2.24M	315K	23.32M	-7.3M	800K	-23.6M	7.6M	-2.4M	-6.6M
Cash from Investing+	-461.53M	-21.98M	-50.12M	-788.73M	-149.1M	-219M	246.5M	-510M	-40.5M	-35.3M
Capital Expenditures	-24.69M	-27.14M	-24.27M	-28.7M	-32.7M	-32.6M	-34.7M	-37.5M	-39.9M	0
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	115.94M	5.15M	88K	184K	0	-200K	200K	2.3M	-600K	-35.3M
Cash from Financing+	337.66M	-170.98M	-138.47M	507.8M	-110.5M	-29M	-184.4M	-256.5M	-310.9M	-333.2M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-26.16M	-3.98M	-10.37M	-37.57M	-7.3M	-12M	-3.1M	10M	-13M	-1M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	92.8M	169.11M	172.18M	258.75M	280.5M	392.2M	159M	270.3M	417M	364.7M
FCF Margin %	0.04%	0.07%	0.07%	0.08%	0.08%	0.11%	0.04%	0.06%	0.09%	0.09%
FCF Growth %	0.22%	0.82%	0.02%	0.5%	0.08%	0.4%	-0.59%	0.7%	0.54%	-0.13%
FCF per Share	1.75	3.15	3.24	4.87	5.25	7.36	2.97	5.27	8.56	7.98
FCF Conversion (FCF/Net Income)	1.20x	2.02x	1.25x	1.82x	1.79x	2.12x	0.47x	1.15x	2.08x	2.28x
Interest Paid	22.28M	26.83M	24.1M	51M	44.9M	0	35.2M	43.7M	62.1M	62.6M
Taxes Paid	45.48M	38.19M	55.3M	21.4M	56.6M	0	170.3M	54.5M	44.8M	33.5M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.76%	11.76%	16.95%	14.51%	13.66%	13.52%	23.75%	14.24%	11.56%	9.55%
Return on Invested Capital (ROIC)	8.99%	9.49%	11.19%	10.35%	8.9%	8.71%	10.83%	11.4%	9.46%	8.31%
Gross Margin	32.87%	32.58%	32.37%	30.11%	28.44%	27.05%	28.49%	29.9%	28.76%	28.87%
Net Margin	4.73%	3.98%	6%	4.64%	5.11%	5.72%	10.22%	5.85%	4.93%	4.27%
Debt / Equity	0.96x	0.74x	0.58x	0.93x	0.82x	0.70x	0.59x	0.59x	0.58x	0.62x
Interest Coverage	5.75x	5.87x	8.13x	4.65x	5.22x	7.08x	9.36x	8.92x	5.48x	4.73x
FCF Conversion	1.20x	2.02x	1.25x	1.82x	1.79x	2.12x	0.47x	1.15x	2.08x	2.28x
Revenue Growth	19.73%	18.18%	7.6%	29.47%	0.47%	2.53%	14.49%	14.26%	-2.85%	-7.88%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Federal Government Business	-	-	-	-	-	-	-	1.15B	504.9M	627.4M
Federal Government Business Growth	-	-	-	-	-	-	-	-	-55.92%	24.26%
Commercial Business	-	-	-	-	-	-	-	3.44B	3.17B	-
Commercial Business Growth	-	-	-	-	-	-	-	-	-7.61%	-
Apex	1.49B	1.84B	2.04B	2.3B	2.52B	2.42B	2.93B	-	-	-
Apex Growth	-	23.50%	10.93%	12.91%	9.55%	-3.92%	20.89%	-	-	-
ECS	-	-	-	143.43M	267.8M	1B	1.08B	-	-	-
ECS Growth	-	-	-	-	86.71%	274.98%	7.79%	-	-	-
Oxford	577.97M	603.92M	588.77M	606.51M	605.7M	525.2M	-	-	-	-
Oxford Growth	-	4.49%	-2.51%	3.01%	-0.13%	-13.29%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Domestic	1.97B	2.32B	2.49B	3.24B	3.75B	3.78B	-	-	-	-
Domestic Growth	-	17.83%	7.30%	29.96%	15.65%	0.77%	-	-	-	-
Foreign	92.12M	115.7M	131.48M	157.98M	174.7M	172.5M	-	-	-	-
Foreign Growth	-	25.60%	13.64%	20.15%	10.59%	-1.26%	-	-	-	-

Frequently Asked Questions

Valuation & Price

ASGN Incorporated (ASGN) has a price-to-earnings (P/E) ratio of 13.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

ASGN Incorporated (ASGN) reported $3.99B in revenue for fiscal year 2024. This represents a 567% increase from $597.3M in 2011.

ASGN Incorporated (ASGN) saw revenue decline by 7.9% over the past year.

Yes, ASGN Incorporated (ASGN) is profitable, generating $130.7M in net income for fiscal year 2024 (4.3% net margin).

Dividend & Returns

ASGN Incorporated (ASGN) has a return on equity (ROE) of 9.6%. This is below average, suggesting room for improvement.

ASGN Incorporated (ASGN) generated $283.3M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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