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Kelly Services, Inc. (KELYA) 10-Year Financial Performance & Capital Metrics

KELYA • • Industrial / General
IndustrialsStaffing & HRSpecialized Professional StaffingMulti-Discipline Professional Staffing
AboutKelly Services, Inc., together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and direct-hire services in the areas of office, professional, light industrial, and contact center specialties. The Science, Engineering & Technology segment offers staffing, outcome-based, and direct-hire services in the areas of science and clinical research, engineering, information technology, and telecommunications specialties. The Education segment provides staffing and executive search services to early childhood, and higher education markets. The Outsourcing & Consulting segment offers recruitment process outsourcing (RPO), payroll process outsourcing, and talent advisory services, as well as managed services. The International segment provides staffing, RPO, and direct-hire services in Europe and Mexico. The company serves customers in the United States, Canada, Mexico, Puerto Rico, France, Switzerland, Portugal, Russia, the United Kingdom, Italy, Germany, Ireland, rest of Europe, and the Asia-Pacific region. Kelly Services, Inc. was founded in 1946 and is headquartered in Troy, Michigan.Show more
  • Revenue $4.33B -10.4%
  • EBITDA $36M -38.5%
  • Net Income -$600K -101.6%
  • EPS (Diluted) -0.02 -101.7%
  • Gross Margin 20.37% +2.5%
  • EBITDA Margin 0.83% -31.3%
  • Operating Margin -0.35% -169.4%
  • Net Margin -0.01% -101.8%
  • ROE -0.05% -101.7%
  • ROIC -0.85% -154.5%
  • Debt/Equity 0.25 +499.0%
  • Interest Coverage -1.39 -118.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Healthy dividend yield of 3.0%
  • ✓Share count reduced 2.2% through buybacks
  • ✓Trading at only 0.3x book value
  • ✓Efficient asset utilization: 1.6x turnover

✗Weaknesses

  • ✗Thin 5Y average net margin of 0.2%
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-2.47%
5Y-4.15%
3Y-4.09%
TTM0.97%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-112.81%

EPS CAGR

10Y-
5Y-
3Y-
TTM-112.17%

ROCE

10Y Avg2.78%
5Y Avg-0.28%
3Y Avg0.52%
Latest-0.9%

Peer Comparison

Multi-Discipline Professional Staffing
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
VOLTVolt Information Sciences, Inc.684.5M30.97509.447.7%-0.05%-1.54%3.03%3.20
MANManpowerGroup Inc.1.43B30.9710.29-5.61%-0.12%-1.04%18%0.58
CLIKClick Holdings Limited14.8M5.046.7236.12%14.19%496.64%2.87%1.56
BGSFBGSF, Inc.61.26M5.47-17.65-12.99%-6.32%-22.2%37.12%0.63
KELYAKelly Services, Inc.331.65M10.35-612.43-10.42%-0.14%-0.49%4.76%0.25
JOBGEE Group, Inc.23.1M0.21-17.15%-35.29%-72.4%2.38%0.06

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+5.52B5.28B5.37B5.51B5.36B4.52B4.91B4.97B4.84B4.33B
Revenue Growth %-0.01%-0.04%0.02%0.03%-0.03%-0.16%0.09%0.01%-0.03%-0.1%
Cost of Goods Sold+4.6B4.37B4.42B4.54B4.39B3.69B3.99B3.95B3.87B3.45B
COGS % of Revenue0.83%0.83%0.82%0.82%0.82%0.82%0.81%0.8%0.8%0.8%
Gross Profit+920.3M906.3M954.1M972.2M968.4M827.6M919.2M1.01B961.4M882.6M
Gross Margin %0.17%0.17%0.18%0.18%0.18%0.18%0.19%0.2%0.2%0.2%
Gross Profit Growth %0.01%-0.02%0.05%0.02%-0%-0.15%0.11%0.1%-0.05%-0.08%
Operating Expenses+853.6M841.3M870.8M884.8M883.1M921.2M870.6M997M937.1M897.7M
OpEx % of Revenue0.15%0.16%0.16%0.16%0.16%0.2%0.18%0.2%0.19%0.21%
Selling, General & Admin853.6M841.3M870.8M884.8M883.1M784.6M853.6M922.4M875.2M785M
SG&A % of Revenue0.15%0.16%0.16%0.16%0.16%0.17%0.17%0.19%0.18%0.18%
Research & Development0000000000
R&D % of Revenue----------
Other Operating Expenses-4.2M-700K-1.6M-600K-1.2M136.6M17M74.6M61.9M112.7M
Operating Income+66.7M65M83.3M87.4M81.8M-93.6M48.6M14.8M24.3M-15.1M
Operating Margin %0.01%0.01%0.02%0.02%0.02%-0.02%0.01%0%0.01%-0%
Operating Income Growth %2.05%-0.03%0.28%0.05%-0.06%-2.14%1.52%-0.7%0.64%-1.62%
EBITDA+89M86.3M106M113.2M134.8M-69.4M78.4M48.2M58.2M35.8M
EBITDA Margin %0.02%0.02%0.02%0.02%0.03%-0.02%0.02%0.01%0.01%0.01%
EBITDA Growth %1.04%-0.03%0.23%0.07%0.19%-1.51%2.13%-0.39%0.21%-0.38%
D&A (Non-Cash Add-back)22.3M21.3M22.7M25.8M53M24.2M29.8M33.4M33.9M50.9M
EBIT67M153.5M84.4M-6.3M120.6M34.9M52.6M70M65.3M-11M
Net Interest Income+-3.5M-3.4M-2M-2.3M-3.1M-2.4M-2.3M200K3.5M-4.1M
Interest Income300K400K700K800K1.1M600K200K2.3M6.7M6.8M
Interest Expense3.8M3.8M2.7M3.1M4.2M3M2.5M2.1M3.2M10.9M
Other Income/Expense-4.2M87.6M-1.6M-96.8M31M-12.4M142.6M-85.2M600K-6.8M
Pretax Income+62.5M151.5M81.7M-9.4M112.8M-106M191.2M-70.4M24.9M-21.9M
Pretax Margin %0.01%0.03%0.02%-0%0.02%-0.02%0.04%-0.01%0.01%-0.01%
Income Tax+8.7M30M12.8M-27.1M400K-34M35.1M-7.9M-11.5M-21.3M
Effective Tax Rate %0.86%0.81%0.88%-2.44%1%0.68%0.82%0.89%1.46%0.03%
Net Income+53.8M122.6M71.6M22.9M112.4M-72M156.1M-62.5M36.4M-600K
Net Margin %0.01%0.02%0.01%0%0.02%-0.02%0.03%-0.01%0.01%-0%
Net Income Growth %1.27%1.28%-0.42%-0.68%3.91%-1.64%3.17%-1.4%1.58%-1.02%
Net Income (Continuing)53.8M120.8M71.6M17.7M112.4M-72M156.1M-62.5M36.4M-600K
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+1.393.131.810.592.84-1.853.92-1.660.98-0.02
EPS Growth %1.28%1.25%-0.42%-0.67%3.81%-1.65%3.12%-1.42%1.59%-1.02%
EPS (Basic)1.393.151.840.592.85-1.853.93-1.660.99-0.02
Diluted Shares Outstanding37.9M38.4M39M39.1M39.2M39.3M39.5M38.1M36.3M35.5M
Basic Shares Outstanding37.8M38.1M38.3M38.8M39.1M39.3M39.4M38.1M35.9M35.5M
Dividend Payout Ratio0.14%0.09%0.16%0.52%0.11%-0.03%-0.3%-

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+1.23B1.22B1.38B1.4B1.41B1.55B1.59B1.72B1.63B1.37B
Cash & Short-Term Investments42.2M29.6M33.3M35.3M25.8M223M112.7M153.7M125.8M39M
Cash Only42.2M29.6M33.3M35.3M25.8M223M112.7M153.7M125.8M39M
Short-Term Investments0000000000
Accounts Receivable1.14B1.14B1.29B1.29B1.28B1.27B1.42B1.49B1.16B1.26B
Days Sales Outstanding75.3578.7487.3985.6187.39102.26105.8109.6587.6105.79
Inventory0000000000
Days Inventory Outstanding----------
Other Current Assets45.8M46.7M0021.2M0069.9M340.2M71M
Total Non-Current Assets+712.5M813.5M993.9M913.9M1.07B1.01B1.31B948.6M955M1.27B
Property, Plant & Equipment88.9M80.8M86.1M86.3M103.5M124.2M111.1M94.6M71.6M72.8M
Fixed Asset Turnover62.07x65.31x62.42x63.89x51.74x36.36x44.19x52.49x67.54x59.50x
Goodwill90.3M88.4M107.1M107.3M127.8M3.5M114.8M151.1M151.1M304.2M
Intangible Assets1.3M600K18.2M16.5M49.9M55.6M132.7M172.4M137.7M274.2M
Long-Term Investments151.7M114.8M117.4M256.4M290.4M282.7M387.7M0011M
Other Non-Current Assets192.3M349.5M499.9M265.2M274.2M264.3M256.4M230.8M273.5M274.5M
Total Assets+1.94B2.03B2.38B2.31B2.48B2.56B2.89B2.66B2.58B2.63B
Asset Turnover2.85x2.60x2.26x2.38x2.16x1.76x1.70x1.86x1.87x1.65x
Asset Growth %0.01%0.05%0.17%-0.03%0.07%0.03%0.13%-0.08%-0.03%0.02%
Total Current Liabilities+815.8M770.5M924.3M897.5M884.1M925.6M1.1B1.13B1.02B826.5M
Accounts Payable405.5M455.1M537.7M540.6M503.6M536.8M687.2M723.3M646.1M613.8M
Days Payables Outstanding32.1938.0144.443.4541.953.1262.8666.7860.8764.95
Short-Term Debt55.5M010.2M2.2M1.9M300K0700K00
Deferred Revenue (Current)0000000000
Other Current Liabilities0044.3M48.9M25.7M22.7M20.8M22.9M192M19M
Current Ratio1.50x1.58x1.50x1.56x1.59x1.67x1.45x1.52x1.59x1.65x
Quick Ratio1.50x1.58x1.50x1.56x1.59x1.67x1.45x1.52x1.59x1.65x
Cash Conversion Cycle----------
Total Non-Current Liabilities+228.4M245M300.5M257.4M332M433.3M462.8M280.8M308M571.2M
Long-Term Debt000000000239.4M
Capital Lease Obligations000043.3M67.5M61.4M55M42.9M50.9M
Deferred Tax Liabilities189.3M34.1M60.6M0000000
Other Non-Current Liabilities39.1M245M300.5M257.4M288.7M365.8M401.4M225.8M265.1M280.9M
Total Liabilities1.04B1.02B1.22B1.15B1.22B1.36B1.56B1.41B1.33B1.4B
Total Debt+55.5M010.2M2.2M65.3M87.4M78.9M70.4M51.3M302.6M
Net Debt13.3M-29.6M-23.1M-33.1M39.5M-135.6M-33.8M-83.3M-74.5M263.6M
Debt / Equity0.06x-0.01x0.00x0.05x0.07x0.06x0.06x0.04x0.25x
Debt / EBITDA0.62x-0.10x0.02x0.48x-1.01x1.46x0.88x8.45x
Net Debt / EBITDA0.15x-0.34x-0.22x-0.29x0.29x--0.43x-1.73x-1.28x7.36x
Interest Coverage17.55x17.11x30.85x28.19x19.48x-31.20x19.44x7.05x7.59x-1.39x
Total Equity+895.4M1.01B1.15B1.16B1.26B1.2B1.34B1.25B1.25B1.23B
Equity Growth %0.07%0.13%0.14%0.01%0.09%-0.05%0.11%-0.06%-0%-0.02%
Book Value per Share23.6326.4029.5329.6532.2630.6133.8332.9234.5434.78
Total Shareholders' Equity895.4M1.01B1.15B1.16B1.26B1.2B1.34B1.25B1.25B1.23B
Common Stock40.1M40.1M40.1M40.1M40.1M40.1M40.1M38.5M38.5M38.5M
Retained Earnings813.5M925.4M983.6M1.14B1.24B1.16B1.31B1.22B1.24B1.23B
Treasury Stock-44.3M-39M-35.2M-26M-20.9M-17.1M-15.1M-20.1M-57.3M-61.4M
Accumulated OCI60.7M58.7M130.8M-17.1M-15.8M-4.2M-27.7M-8.5M200K-6.9M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+23.5M38M70.3M61.4M102.2M186M85M-76.3M76.7M26.9M
Operating CF Margin %0%0.01%0.01%0.01%0.02%0.04%0.02%-0.02%0.02%0.01%
Operating CF Growth %1.34%0.62%0.85%-0.13%0.66%0.82%-0.54%-1.9%2.01%-0.65%
Net Income53.8M122.6M71.6M22.9M112.4M-72M156.1M-62.5M36.4M-600K
Depreciation & Amortization22.3M21.3M22.7M26.2M53.9M45.3M51M51.9M50.1M50.9M
Stock-Based Compensation6.1M8M9.2M8.1M5.6M3.9M5.1M7.8M9.7M11.8M
Deferred Taxes-11.8M7.4M-5.9M-47.5M-18.3M-57.1M21.6M-72.1M-24.9M-27.8M
Other Non-Cash Items10.8M-90.3M9M140.7M-25M145.6M-138.6M139.6M7.4M69.8M
Working Capital Changes-57.7M-31M-36.3M-89M-26.4M120.3M-10.2M-141M-2M-77.2M
Change in Receivables-64.2M-93.9M-126.2M-32M46M55.9M-150.7M-99.3M147.2M-20.9M
Change in Inventory000-75.9M-28.2M58.6M-16.8M000
Change in Payables50.9M58.4M63.9M17M-43M10.5M155.8M44.3M-62.5M-31.1M
Cash from Investing+-17.6M10.3M-59.3M-29.8M-94.3M9.8M-180.7M167.5M-14.1M-361.6M
Capital Expenditures-16.9M-12.7M-22.9M-25.6M-20M-15.5M-11.2M-12M-15.3M-11.1M
CapEx % of Revenue0%0%0%0%0%0%0%0%0%0%
Acquisitions----------
Investments----------
Other Investing-200K-300K800K-32.7M-6.9M42.4M21.4M-304.2M-800K0
Cash from Financing+-42.2M-66.9M-3.4M-26.5M-16.1M-8.1M-8.1M-50.6M-59.6M214.8M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-7.7M-10.7M-11.6M-11.8M-11.9M-3M-4M-10.6M-11M-10.9M
Share Repurchases----------
Other Financing-1.6M-300K-1.9M-6.9M-3.2M-1.4M-2.4M-4.4M-4.5M-3.7M
Net Change in Cash----------
Free Cash Flow+6.6M25.3M47.4M35.8M82.2M170.5M73.8M-88.3M61.4M15.8M
FCF Margin %0%0%0.01%0.01%0.02%0.04%0.02%-0.02%0.01%0%
FCF Growth %1.07%2.83%0.87%-0.24%1.3%1.07%-0.57%-2.2%1.7%-0.74%
FCF per Share0.170.661.220.922.104.341.87-2.321.690.45
FCF Conversion (FCF/Net Income)0.44x0.31x0.98x2.68x0.91x-2.58x0.54x1.22x2.11x-44.83x
Interest Paid2.7M2.7M1.9M1.6M001.7M1.3M2.8M0
Taxes Paid23.5M24M20.1M18.3M0014.1M61.2M8.9M0

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)6.22%12.84%6.61%1.98%9.27%-5.84%12.3%-4.83%2.9%-0.05%
Return on Invested Capital (ROIC)5.71%5.15%5.91%5.81%5.05%-5.92%3.08%0.9%1.55%-0.85%
Gross Margin16.68%17.18%17.75%17.63%18.08%18.33%18.72%20.38%19.88%20.37%
Net Margin0.97%2.32%1.33%0.42%2.1%-1.59%3.18%-1.26%0.75%-0.01%
Debt / Equity0.06x-0.01x0.00x0.05x0.07x0.06x0.06x0.04x0.25x
Interest Coverage17.55x17.11x30.85x28.19x19.48x-31.20x19.44x7.05x7.59x-1.39x
FCF Conversion0.44x0.31x0.98x2.68x0.91x-2.58x0.54x1.22x2.11x-44.83x
Revenue Growth-0.8%-4.37%1.85%2.6%-2.87%-15.68%8.72%1.13%-2.61%-10.42%

Revenue by Segment

2015201620172018201920202021202220232024
Service--------4.84B4.33B
Service Growth----------10.42%
Professional & Industrial-----1.86B1.84B1.67B--
Professional & Industrial Growth-------1.13%-9.32%--
Science, Engineering & Technology-----1.02B1.16B1.27B--
Science, Engineering & Technology Growth------13.51%9.39%--
International-----988.6M1.07B932.2M--
International Growth------8.01%-12.70%--
Education-----286.9M416.5M636.2M--
Education Growth------45.17%52.75%--
Outsourcing & Consulting-----363.5M432.1M468M--
Outsourcing & Consulting Growth------18.87%8.31%--
Global Talent Solutions---2B2.02B-----
Global Talent Solutions Growth----1.36%-----
Outcome-Based Services---515.1M641.4M-----
Outcome-Based Services Growth----24.52%-----
GTS--2B-------
GTS Growth----------
International Staffing--1.05B-------
International Staffing Growth----------
EMEA Commercial773.5M769.3M--------
EMEA Commercial Growth--0.54%--------
OCG673.8M706.4M--------
OCG Growth-4.84%--------
APAC Commercial347.2M170.7M--------
APAC Commercial Growth--50.84%--------
EMEAPT171.5M168.8M--------
EMEAPT Growth--1.57%--------
APACPT40.5M18.3M--------
APACPT Growth--54.81%--------

Revenue by Geography

2015201620172018201920202021202220232024
Americas--------3.93B4.23B
Americas Growth---------7.79%
UNITED STATES---3.93B3.89B3.26B3.51B3.67B3.56B3.88B
UNITED STATES Growth-----0.95%-16.24%7.77%4.50%-3.15%9.03%
CANADA---142.4M136.1M122.5M155M168.2M189.8M188.6M
CANADA Growth-----4.42%-9.99%26.53%8.52%12.84%-0.63%
PUERTO RICO---96.6M74.6M77M102.1M112.4M107M108M
PUERTO RICO Growth-----22.77%3.22%32.60%10.09%-4.80%0.93%
MEXICO---125M123.6M114.4M92.7M46.5M75.7M60.7M
MEXICO Growth-----1.12%-7.44%-18.97%-49.84%62.80%-19.82%
Asia Pacific---22.2M26.8M---43.7M55.7M
Asia Pacific Growth----20.72%----27.46%
EMEA-----895.3M1.01B924.7M863.7M41.9M
EMEA Growth------12.48%-8.17%-6.60%-95.15%
Other EMEA---51.2M67.5M54.6M68M143.2M191.8M37.5M
Other EMEA Growth----31.84%-19.11%24.54%110.59%33.94%-80.45%
SWITZERLAND---212.7M200.7M200.4M222.2M222.8M224.2M4M
SWITZERLAND Growth-----5.64%-0.15%10.88%0.27%0.63%-98.22%
FRANCE---278.9M248.6M198.2M223.1M199.4M194.4M400K
FRANCE Growth-----10.86%-20.27%12.56%-10.62%-2.51%-99.79%
PORTUGAL---196.9M179.8M141.7M158.2M169.5M189.4M-
PORTUGAL Growth-----8.68%-21.19%11.64%7.14%11.74%-
ITALY---77.5M75.9M58.2M74.2M69.3M63.9M-
ITALY Growth-----2.06%-23.32%27.49%-6.60%-7.79%-
Domestic--3.89B3.93B3.89B3.26B3.51B3.67B--
Domestic Growth---0.91%-0.95%-16.24%7.77%4.50%--
Non-US-----1.26B1.4B1.29B--
Non-US Growth------11.19%-7.33%--
BRAZIL---35.2M34.1M17M----
BRAZIL Growth-----3.13%-50.15%----
GERMANY---57.1M41.6M30.1M34M---
GERMANY Growth-----27.15%-27.64%12.96%---
IRELAND---44.6M33.1M19.9M26.8M---
IRELAND Growth-----25.78%-39.88%34.67%---
NORWAY---34.4M------
NORWAY Growth----------
Americas 13.58B3.5B--------
Americas 1 Growth--2.27%--------
Total EMEA945M938.1M--------
Total EMEA Growth--0.73%--------
APAC387.7M189M--------
APAC Growth--51.25%--------

Frequently Asked Questions

Growth & Financials

Kelly Services, Inc. (KELYA) reported $4.50B in revenue for fiscal year 2024. This represents a 19% decrease from $5.55B in 2011.

Kelly Services, Inc. (KELYA) saw revenue decline by 10.4% over the past year.

Kelly Services, Inc. (KELYA) reported a net loss of $6.2M for fiscal year 2024.

Dividend & Returns

Yes, Kelly Services, Inc. (KELYA) pays a dividend with a yield of 2.97%. This makes it attractive for income-focused investors.

Kelly Services, Inc. (KELYA) has a return on equity (ROE) of -0.0%. Negative ROE indicates the company is unprofitable.

Kelly Services, Inc. (KELYA) generated $105.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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