Kforce Inc. (KFRC) 10-Year Financial Performance & Capital Metrics

KFRC • • Industrial / General

IndustrialsStaffing & HRSpecialized Professional StaffingIT & Technology Staffing Specialists

AboutKforce Inc. provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security. This segment serves clients in various industries comprising financial and business services, communications, insurance, retail, and technology industries. The FA businesses segment offers talent solutions to its clients in areas, including financial planning and analysis, business intelligence analysis, accounting, transactional accounting, business and cost analysis, and taxation and treasury. It also provides consultants in lower skilled areas comprising loan servicing and support, customer and call center support, data entry, and other administrative roles. This segment serves clients in various industries, including financial and business services, healthcare, and manufacturing sectors. Kforce Inc. was founded in 1962 and is headquartered in Tampa, Florida.Show more

Revenue $1.41B -8.3%
EBITDA $76M -17.9%
Net Income $50M -17.5%
EPS (Diluted) 2.62 -16.3%
Gross Margin 27.43% -1.6%
EBITDA Margin 5.38% -10.5%
Operating Margin 4.96% -12.8%
Net Margin 3.59% -10.0%
ROE 32.14% -10.2%
ROIC 25% -14.9%
Debt/Equity 0.31 -14.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 36.2%
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 4.2%
✓Efficient asset utilization: 3.9x turnover

✗Weaknesses

✗Profits declining 17.4% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.45%

5Y0.85%

3Y-3.83%

TTM-5.91%

Profit (Net Income) CAGR

10Y-5.73%

5Y-17.37%

3Y-12.47%

TTM-26.05%

EPS CAGR

10Y-0.91%

5Y2.64%

3Y-9.54%

TTM-21.83%

ROCE

10Y Avg28.02%

5Y Avg30.87%

3Y Avg33.46%

Latest27.87%

Peer Comparison

IT & Technology Staffing Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MHHMastech Digital, Inc.	85.74M	7.33	26.18	-1.07%	-0.03%	-0.07%	7.29%	0.04
KFRCKforce Inc.	627.86M	34.61	13.21	-8.26%	3.04%	30.82%	12.63%	0.31

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.32B	1.32B	1.36B	1.42B	1.35B	1.4B	1.58B	1.71B	1.53B	1.41B
Revenue Growth %	0.08%	0%	0.03%	0.04%	-0.05%	0.04%	0.13%	0.08%	-0.1%	-0.08%
Cost of Goods Sold+	905.12M	911.21M	949.88M	999.75M	952.35M	1B	1.12B	1.21B	1.1B	1.02B
COGS % of Revenue	0.69%	0.69%	0.7%	0.7%	0.71%	0.72%	0.71%	0.71%	0.72%	0.73%
Gross Profit+	414.11M	408.5M	408.06M	418.61M	395.04M	396.22M	456.86M	501.11M	427.07M	385.44M
Gross Margin %	0.31%	0.31%	0.3%	0.3%	0.29%	0.28%	0.29%	0.29%	0.28%	0.27%
Gross Profit Growth %	0.11%	-0.01%	-0%	0.03%	-0.06%	0%	0.15%	0.1%	-0.15%	-0.1%
Operating Expenses+	340.25M	349.9M	339.43M	336.96M	320.22M	315.97M	350.22M	384.24M	339.94M	315.72M
OpEx % of Revenue	0.26%	0.27%	0.25%	0.24%	0.24%	0.23%	0.22%	0.22%	0.22%	0.22%
Selling, General & Admin	330.42M	341.2M	331.17M	329.13M	314.17M	310.71M	345.72M	379.81M	334.93M	309.8M
SG&A % of Revenue	0.25%	0.26%	0.24%	0.23%	0.23%	0.22%	0.22%	0.22%	0.22%	0.22%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-2.19M	-2.65M	-4.54M	-4.5M	6.05M	5.25M	4.5M	4.43M	5.01M	5.92M
Operating Income+	73.87M	58.6M	68.63M	81.65M	74.82M	80.26M	106.64M	116.86M	87.12M	69.72M
Operating Margin %	0.06%	0.04%	0.05%	0.06%	0.06%	0.06%	0.07%	0.07%	0.06%	0.05%
Operating Income Growth %	0.5%	-0.21%	0.17%	0.19%	-0.08%	0.07%	0.33%	0.1%	-0.25%	-0.2%
EBITDA+	83.7M	67.3M	76.88M	88.49M	80.87M	91.01M	109.47M	126.97M	92.13M	75.64M
EBITDA Margin %	0.06%	0.05%	0.06%	0.06%	0.06%	0.07%	0.07%	0.07%	0.06%	0.05%
EBITDA Growth %	0.41%	-0.2%	0.14%	0.15%	-0.09%	0.13%	0.2%	0.16%	-0.27%	-0.18%
D&A (Non-Cash Add-back)	9.83M	8.7M	8.26M	6.84M	6.05M	10.75M	2.82M	10.11M	5.01M	5.92M
EBIT	74.25M	59.06M	60.02M	72.4M	74.82M	80.26M	106.64M	116.86M	87.12M	69.72M
Net Interest Income+	-1.98M	0	0	0	-8K	33K	0	-13.45M	0	0
Interest Income	0	0	0	0	2.59M	3.4M	0	973K	0	0
Interest Expense	1.98M	0	0	0	2.59M	3.36M	0	14.42M	0	0
Other Income/Expense	-2.19M	-2.65M	-4.54M	-4.52M	-3.42M	-5.04M	-7.38M	-14.42M	-1.87M	-2.1M
Pretax Income+	71.67M	55.95M	64.09M	77.15M	71.4M	75.21M	99.27M	102.44M	85.25M	67.62M
Pretax Margin %	0.05%	0.04%	0.05%	0.05%	0.05%	0.05%	0.06%	0.06%	0.06%	0.05%
Income Tax+	28.85M	23.18M	30.81M	19.17M	16.83M	19.17M	24.09M	27.01M	24.18M	17.21M
Effective Tax Rate %	0.6%	0.59%	0.52%	0.75%	1.83%	0.75%	0.76%	0.74%	0.72%	0.75%
Net Income+	42.82M	32.77M	33.28M	57.98M	130.86M	56.04M	75.18M	75.43M	61.08M	50.41M
Net Margin %	0.03%	0.02%	0.02%	0.04%	0.1%	0.04%	0.05%	0.04%	0.04%	0.04%
Net Income Growth %	-0.53%	-0.23%	0.02%	0.74%	1.26%	-0.57%	0.34%	0%	-0.19%	-0.17%
Net Income (Continuing)	42.82M	32.77M	29.59M	50.88M	54.57M	56.04M	75.18M	75.43M	61.08M	50.41M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.52	1.22	1.26	2.23	2.30	2.62	3.54	3.68	3.13	2.62
EPS Growth %	-0.47%	-0.2%	0.03%	0.77%	0.03%	0.14%	0.35%	0.04%	-0.15%	-0.16%
EPS (Basic)	1.53	1.22	1.26	2.34	2.35	2.67	3.65	3.76	3.13	2.62
Diluted Shares Outstanding	28.19M	26.8M	26.33M	26.03M	23.77M	21.39M	21.21M	20.5M	19.52M	19.22M
Basic Shares Outstanding	27.91M	26.1M	25.22M	24.74M	23.19M	20.98M	20.58M	20.05M	19.52M	19.22M
Dividend Payout Ratio	0.29%	0.38%	0.36%	0.26%	0.13%	0.3%	0.27%	0.32%	0.45%	0.56%

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+	214.53M	223.5M	245.44M	248.46M	245.24M	338.89M	372.11M	277.76M	244.46M	225.41M
Cash & Short-Term Investments	1.5M	1.48M	379K	112K	19.83M	103.49M	96.99M	121K	119K	349K
Cash Only	1.5M	1.48M	379K	112K	19.83M	103.49M	96.99M	121K	119K	349K
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	199.46M	206.53M	232.98M	210.56M	217.93M	228.42M	268.33M	269.5M	233.43M	215.69M
Days Sales Outstanding	55.19	57.12	62.62	54.19	59.04	59.65	61.99	57.5	55.62	56.02
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	13.58M	15.49M	12.09M	29.77M	0	0	0	8.14M	10.91M	9.37M
Total Non-Current Assets+	137.29M	141.92M	138.86M	131.45M	135.89M	140.16M	131.29M	114.24M	113.52M	132.43M
Property, Plant & Equipment	37.48M	43.15M	39.68M	35.82M	48.32M	43.64M	21.36M	25.75M	23.79M	21.49M
Fixed Asset Turnover	35.20x	30.59x	34.22x	39.60x	27.89x	32.03x	73.97x	66.44x	64.40x	65.40x
Goodwill	45.97M	45.97M	45.97M	45.97M	25.04M	25.04M	25.04M	25.04M	25.04M	25.04M
Intangible Assets	4.24M	3.64M	3.3M	2.95M	8.76M	12.8M	14.67M	16.15M	16.43M	29.09M
Long-Term Investments	0	0	500K	900K	8.17M	10.49M	17.01M	0	0	0
Other Non-Current Assets	28.67M	30.51M	38.1M	36.06M	37.57M	37.45M	45.56M	42.52M	45.12M	51.8M
Total Assets+	351.82M	365.42M	384.3M	379.91M	381.13M	479.05M	503.4M	392M	357.98M	357.83M
Asset Turnover	3.75x	3.61x	3.53x	3.73x	3.54x	2.92x	3.14x	4.36x	4.28x	3.93x
Asset Growth %	-0.03%	0.04%	0.05%	-0.01%	0%	0.26%	0.05%	-0.22%	-0.09%	-0%
Total Current Liabilities+	87.75M	83.35M	83.72M	90.36M	84.96M	108.17M	160.43M	131.43M	102.97M	112.46M
Accounts Payable	23.51M	20.32M	21.59M	18.79M	20.27M	20.18M	40.24M	49.6M	42.84M	38.31M
Days Payables Outstanding	9.48	8.14	8.3	6.86	7.77	7.35	13.08	14.97	14.16	13.71
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	-837K	-965K	-1000K	0	0	0	0	0	0	0
Other Current Liabilities	2.57M	3.06M	3.19M	14.89M	2.23M	1.41M	746K	749K	426K	542K
Current Ratio	2.44x	2.68x	2.93x	2.75x	2.89x	3.13x	2.32x	2.11x	2.37x	2.00x
Quick Ratio	2.44x	2.68x	2.93x	2.75x	2.89x	3.13x	2.32x	2.11x	2.37x	2.00x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	124.45M	160.33M	166.31M	121.22M	128.9M	190.95M	154.56M	78.37M	95.92M	90.76M
Long-Term Debt	83.82M	115.53M	119.12M	71.8M	65M	100M	100M	25.6M	41.6M	32.7M
Capital Lease Obligations	0	0	0	0	14.63M	14.69M	11.92M	16.38M	12.28M	11.86M
Deferred Tax Liabilities	0	0	0	4.71M	0	0	0	0	0	0
Other Non-Current Liabilities	40.63M	44.8M	47.19M	49.42M	49.27M	76.26M	42.65M	36.39M	42.05M	46.2M
Total Liabilities	212.19M	243.69M	250.03M	211.58M	213.86M	299.11M	315M	209.81M	198.9M	203.22M
Total Debt+	83.82M	115.53M	119.12M	73.16M	85.31M	120.21M	118.26M	46.56M	57.46M	47.6M
Net Debt	82.33M	114.05M	118.74M	73.05M	65.48M	16.73M	21.27M	46.44M	57.34M	47.25M
Debt / Equity	0.60x	0.95x	0.89x	0.43x	0.51x	0.67x	0.63x	0.26x	0.36x	0.31x
Debt / EBITDA	1.00x	1.72x	1.55x	0.83x	1.05x	1.32x	1.08x	0.37x	0.62x	0.63x
Net Debt / EBITDA	0.98x	1.69x	1.54x	0.83x	0.81x	0.18x	0.19x	0.37x	0.62x	0.62x
Interest Coverage	37.27x	-	-	-	28.84x	23.86x	-	8.10x	-	-
Total Equity+	139.63M	121.74M	134.28M	168.33M	167.26M	179.94M	188.41M	182.2M	159.08M	154.62M
Equity Growth %	0%	-0.13%	0.1%	0.25%	-0.01%	0.08%	0.05%	-0.03%	-0.13%	-0.03%
Book Value per Share	4.95	4.54	5.10	6.47	7.04	8.41	8.88	8.89	8.15	8.05
Total Shareholders' Equity	139.63M	121.74M	134.28M	168.33M	167.26M	179.94M	188.41M	182.2M	159.08M	154.62M
Common Stock	705K	713K	715K	719K	722K	726K	730K	732K	734K	738K
Retained Earnings	155.1M	174.97M	195.14M	237.31M	350.55M	388.64M	442.6M	492.76M	525.22M	546.2M
Treasury Stock	-436.77M	-482.34M	-499.07M	-518.33M	-642.02M	-677.39M	-743.58M	-819.04M	-894.16M	-935.43M
Accumulated OCI	318K	184K	100K	1.3M	-1.53M	-4.42M	621K	6K	0	0
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+	70.18M	39.45M	29.34M	87.72M	66.62M	109.16M	72.9M	90.81M	91.47M	86.87M
Operating CF Margin %	0.05%	0.03%	0.02%	0.06%	0.05%	0.08%	0.05%	0.05%	0.06%	0.06%
Operating CF Growth %	3.74%	-0.44%	-0.26%	1.99%	-0.24%	0.64%	-0.33%	0.25%	0.01%	-0.05%
Net Income	42.82M	32.77M	33.28M	57.98M	130.86M	56.04M	75.18M	75.43M	61.08M	50.41M
Depreciation & Amortization	9.85M	8.8M	8.51M	8.27M	6.48M	5.25M	4.5M	4.43M	5.01M	5.92M
Stock-Based Compensation	5.82M	6.71M	7.6M	8.8M	9.91M	11.6M	14M	17.66M	17.75M	14.04M
Deferred Taxes	2.38M	2.01M	12.24M	989K	-49K	-2.3M	2.42M	3.08M	1.65M	0
Other Non-Cash Items	3.55M	3.21M	783K	4.59M	-67.99M	13.03M	9.26M	5.17M	6.31M	1.52M
Working Capital Changes	5.75M	-14.04M	-33.08M	7.1M	-12.6M	25.54M	-32.47M	-14.96M	-323K	14.98M
Change in Receivables	4.22M	-8.4M	-20.54M	-10.85M	-5.36M	-12.86M	-36.96M	-4.05M	35.3M	17.64M
Change in Inventory	-3.56M	-3.58M	-7.24M	11.95M	0	0	0	0	0	0
Change in Payables	1.79M	-1.92M	-1.54M	3.93M	0	0	0	0	0	0
Cash from Investing+	-8.36M	-12.42M	-4.85M	-4.17M	103.19M	-6.93M	8.3M	-14.28M	-4.86M	-7.56M
Capital Expenditures	-8.33M	-12.42M	-5.85M	-5.17M	-10.36M	-6.47M	-6.44M	-8.11M	-7.76M	-7.57M
CapEx % of Revenue	0.01%	0.01%	0%	0%	0.01%	0%	0%	0%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-36K	0	1M	1M	122.54M	3.55M	23.74M	-5.67M	2.9M	9K
Cash from Financing+	-61.56M	-27.04M	-25.6M	-83.82M	-150.08M	-18.58M	-87.7M	-173.39M	-86.61M	-79.08M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-12.54M	-12.45M	-12.14M	-14.87M	-16.61M	-16.79M	-20.12M	-24.03M	-27.56M	-28.24M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	2.32M	343K	-3.81M	-2.04M	-2.22M	-1.18M	-1.37M	-51K	-19K	-6K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	61.85M	27.03M	23.49M	82.55M	56.26M	102.68M	66.46M	82.7M	83.7M	79.3M
FCF Margin %	0.05%	0.02%	0.02%	0.06%	0.04%	0.07%	0.04%	0.05%	0.05%	0.06%
FCF Growth %	2.96%	-0.56%	-0.13%	2.51%	-0.32%	0.83%	-0.35%	0.24%	0.01%	-0.05%
FCF per Share	2.19	1.01	0.89	3.17	2.37	4.80	3.13	4.03	4.29	4.13
FCF Conversion (FCF/Net Income)	1.64x	1.20x	0.88x	1.51x	0.51x	1.95x	0.97x	1.20x	1.50x	1.72x
Interest Paid	1.61M	2.1M	3.52M	3.81M	1.48M	2.57M	2.45M	885K	897K	1.99M
Taxes Paid	25.39M	21.32M	24.33M	13.44M	24.93M	21.74M	24.28M	16.58M	28.62M	9.78M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	30.7%	25.08%	26%	38.32%	77.99%	32.28%	40.82%	40.71%	35.79%	32.14%
Return on Invested Capital (ROIC)	24.41%	19.2%	21.06%	24.77%	23.67%	28.04%	39.37%	39.99%	29.36%	25%
Gross Margin	31.39%	30.95%	30.05%	29.51%	29.32%	28.35%	28.92%	29.29%	27.88%	27.43%
Net Margin	3.25%	2.48%	2.45%	4.09%	9.71%	4.01%	4.76%	4.41%	3.99%	3.59%
Debt / Equity	0.60x	0.95x	0.89x	0.43x	0.51x	0.67x	0.63x	0.26x	0.36x	0.31x
Interest Coverage	37.27x	-	-	-	28.84x	23.86x	-	8.10x	-	-
FCF Conversion	1.64x	1.20x	0.88x	1.51x	0.51x	1.95x	0.97x	1.20x	1.50x	1.72x
Revenue Growth	8.37%	0.04%	2.9%	4.45%	-5%	3.73%	13.04%	8.28%	-10.46%	-8.26%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Flex Revenue	-	-	1.31B	-	-	-	-	-	1.49B	1.38B
Flex Revenue Growth	-	-	-	-	-	-	-	-	-	-7.85%
Direct Hire Revenue	-	-	47.68M	-	-	-	-	-	37.98M	28.86M
Direct Hire Revenue Growth	-	-	-	-	-	-	-	-	-	-24.01%
Technology	-	-	-	990.09M	1.06B	1.05B	1.27B	1.51B	-	-
Technology Growth	-	-	-	-	6.84%	-0.78%	21.37%	18.34%	-	-
Finance And Accounting	-	-	-	313.85M	289.53M	348.07M	305.98M	203.14M	-	-
Finance And Accounting Growth	-	-	-	-	-7.75%	20.22%	-12.09%	-33.61%	-	-
Government Solutions	-	-	-	114.42M	-	-	-	-	-	-
Government Solutions Growth	-	-	-	-	-	-	-	-	-	-
Flexible Billings	1.27B	1.27B	-	-	-	-	-	-	-	-
Flexible Billings Growth	-	0.33%	-	-	-	-	-	-	-	-
Direct Hire Fees	-	50.4M	-	-	-	-	-	-	-	-
Direct Hire Fees Growth	-	-	-	-	-	-	-	-	-	-
Search Fees	54.07M	-	-	-	-	-	-	-	-	-
Search Fees Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Kforce Inc. (KFRC) has a price-to-earnings (P/E) ratio of 13.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Kforce Inc. (KFRC) reported $1.34B in revenue for fiscal year 2024. This represents a 21% increase from $1.11B in 2011.

Kforce Inc. (KFRC) saw revenue decline by 8.3% over the past year.

Yes, Kforce Inc. (KFRC) is profitable, generating $40.7M in net income for fiscal year 2024 (3.6% net margin).

Dividend & Returns

Yes, Kforce Inc. (KFRC) pays a dividend with a yield of 4.25%. This makes it attractive for income-focused investors.

Kforce Inc. (KFRC) has a return on equity (ROE) of 32.1%. This is excellent, indicating efficient use of shareholder capital.

Kforce Inc. (KFRC) generated $52.9M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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