ManpowerGroup Inc. (MAN) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Staffing & Employment Services
EV/EBITDA
↓
9.02
-6% vs avg
5yr avg: 9.57
30Y Low4.5·High28.6
P/FCF
↑
N/A
—
5yr avg: 11.89
30Y Low3.9·High57.0
P/B Ratio
↓
0.69
↓-55% vs avg
5yr avg: 1.54
30Y Low0.7·High4.7
ROE
↓
-0.6%
↑-108% vs avg
5yr avg: 8.0%
30Y Low-11%·High31%
Debt/EBITDA
↑
7.37
↑+98% vs avg
5yr avg: 3.72
30Y Low0.5·High7.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MAN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ManpowerGroup Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.4B | $1.4B | $2.8B | $4.0B | $4.4B | $5.4B | $5.3B | $5.9B | $4.2B | $8.6B | $6.3B |
| Enterprise Value | $2.9B | $2.9B | $3.5B | $4.8B | $5.1B | $5.9B | $5.2B | $6.4B | $4.7B | $8.8B | $6.5B |
| P/E Ratio → | -104.90 | — | 19.18 | 45.15 | 11.75 | 14.11 | 219.95 | 12.58 | 7.58 | 15.69 | 14.17 |
| P/S Ratio | 0.08 | 0.08 | 0.16 | 0.21 | 0.22 | 0.26 | 0.29 | 0.28 | 0.19 | 0.41 | 0.32 |
| P/B Ratio | 0.69 | 0.67 | 1.31 | 1.79 | 1.79 | 2.13 | 2.14 | 2.12 | 1.56 | 3.00 | 2.57 |
| P/FCF | — | — | 10.80 | 14.83 | 12.64 | 9.29 | 5.94 | 7.69 | 10.08 | 24.73 | 11.59 |
| P/OCF | — | — | 9.02 | 11.50 | 10.38 | 8.36 | 5.61 | 7.19 | 8.73 | 21.36 | 10.49 |
P/E links to full P/E history page with 30-year chart
MAN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
ManpowerGroup Inc.'s enterprise value stands at 9.0x EBITDA, 6% below its 5-year average of 9.6x. The Industrials sector median is 13.8x, placing the stock at a 34% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.16 | 0.20 | 0.26 | 0.26 | 0.29 | 0.29 | 0.30 | 0.21 | 0.42 | 0.33 |
| EV / EBITDA | 9.02 | 8.95 | 8.94 | 14.08 | 6.86 | 9.01 | 11.71 | 8.81 | 5.33 | 10.11 | 7.80 |
| EV / EBIT | 12.27 | 15.40 | 10.12 | 16.98 | 8.47 | 9.78 | 27.43 | 8.72 | 5.87 | 11.21 | 8.68 |
| EV / FCF | — | — | 13.60 | 17.96 | 14.71 | 10.23 | 5.91 | 8.35 | 11.24 | 25.48 | 12.00 |
MAN Profitability
Margins and return-on-capital ratios measuring operating efficiency
ManpowerGroup Inc. earns an operating margin of 1.3%, below the Industrials sector average of 4.9%. A negative ROE of -0.6% indicates the company is currently destroying shareholder equity. ROIC of 5.6% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 16.7% | 16.7% | 17.3% | 17.8% | 18.0% | 16.4% | 15.7% | 16.2% | 16.3% | 16.6% | 17.0% |
| Operating Margin | 1.3% | 1.3% | 1.7% | 1.4% | 3.3% | 2.8% | 2.1% | 3.1% | 3.6% | 3.7% | 3.8% |
| Net Profit Margin | -0.1% | -0.1% | 0.8% | 0.5% | 1.9% | 1.8% | 0.1% | 2.2% | 2.5% | 2.6% | 2.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.6% | -0.6% | 6.7% | 3.8% | 15.0% | 15.3% | 0.9% | 17.1% | 20.0% | 20.6% | 17.3% |
| ROA | -0.2% | -0.2% | 1.7% | 1.0% | 3.9% | 4.0% | 0.3% | 5.2% | 6.4% | 6.6% | 5.9% |
| ROIC | 5.6% | 5.6% | 7.7% | 6.1% | 15.8% | 15.9% | 9.8% | 15.0% | 19.0% | 20.4% | 20.5% |
| ROCE | 6.2% | 6.2% | 7.9% | 6.2% | 16.0% | 13.4% | 7.9% | 14.1% | 18.9% | 19.7% | 18.8% |
MAN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
ManpowerGroup Inc. carries a Debt/EBITDA ratio of 7.4x, which is highly leveraged (131% above the sector average of 3.2x). Net debt stands at $1.5B ($2.4B total debt minus $871M cash). Interest coverage of just 2.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.16 | 1.16 | 0.58 | 0.64 | 0.55 | 0.55 | 0.63 | 0.55 | 0.40 | 0.33 | 0.34 |
| Debt / EBITDA | 7.37 | 7.37 | 3.14 | 4.14 | 1.82 | 2.12 | 3.46 | 2.12 | 1.22 | 1.09 | 0.99 |
| Net Debt / Equity | — | 0.74 | 0.34 | 0.38 | 0.29 | 0.22 | -0.01 | 0.18 | 0.18 | 0.09 | 0.09 |
| Net Debt / EBITDA | 4.69 | 4.69 | 1.84 | 2.45 | 0.97 | 0.83 | -0.04 | 0.70 | 0.55 | 0.30 | 0.27 |
| Debt / FCF | — | — | 2.80 | 3.13 | 2.07 | 0.94 | -0.02 | 0.67 | 1.16 | 0.75 | 0.42 |
| Interest Coverage | 2.50 | 2.50 | 3.40 | 3.21 | 14.08 | 15.09 | 8.57 | 14.52 | 16.95 | 15.96 | 15.17 |
MAN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.11x means ManpowerGroup Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.16x to 1.11x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.11 | 1.11 | 1.12 | 1.16 | 1.21 | 1.11 | 1.42 | 1.46 | 1.44 | 1.28 | 1.40 |
| Quick Ratio | 1.11 | 1.11 | 1.12 | 1.16 | 1.21 | 1.11 | 1.42 | 1.46 | 1.44 | 1.28 | 1.40 |
| Cash Ratio | 0.17 | 0.17 | 0.11 | 0.12 | 0.13 | 0.15 | 0.33 | 0.23 | 0.14 | 0.14 | 0.16 |
| Asset Turnover | — | 1.96 | 2.18 | 2.14 | 2.17 | 2.11 | 1.93 | 2.26 | 2.58 | 2.37 | 2.59 |
| Inventory Turnover | 110.74 | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 96.96 | 87.85 | 93.21 | 94.57 | 95.95 | 99.61 | 92.25 | 87.57 | 93.19 | 81.96 |
MAN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ManpowerGroup Inc. returns 7.4% to shareholders annually — split between a 4.7% dividend yield and 2.7% buyback yield.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.7% | 4.8% | 5.2% | 3.6% | 3.2% | 2.5% | 2.5% | 2.2% | 3.0% | 1.4% | 1.9% |
| Payout Ratio | — | — | 100.5% | 162.5% | 37.4% | 35.7% | 542.4% | 27.8% | 22.9% | 22.7% | 26.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 5.2% | 2.2% | 8.5% | 7.1% | 0.5% | 8.0% | 13.2% | 6.4% | 7.1% |
| FCF Yield | — | — | 9.3% | 6.7% | 7.9% | 10.8% | 16.8% | 13.0% | 9.9% | 4.0% | 8.6% |
| Buyback Yield | 2.7% | 2.8% | 5.0% | 4.5% | 6.1% | 3.9% | 5.0% | 3.5% | 11.9% | 2.4% | 7.7% |
| Total Shareholder Yield | 7.4% | 7.6% | 10.3% | 8.1% | 9.3% | 6.4% | 7.5% | 5.7% | 14.9% | 3.8% | 9.5% |
| Shares Outstanding | — | $47M | $48M | $50M | $53M | $55M | $58M | $60M | $65M | $68M | $71M |
Peer Comparison
Compare MAN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MANYou | $1B | -104.9 | 9.0 | — | 16.7% | 1.3% | -0.6% | 5.6% | 7.4 |
 RHI | $3B | 20.6 | 21.6 | 10.4 | 37.2% | 1.4% | 10.0% | 4.6% | 3.3 |
 KELYA | $349M | -1.3 | — | 3.1 | 20.1% | -1.6% | -23.0% | -4.0% | — |
 HSII | $1B | 143.9 | 30.8 | 9.9 | 25.2% | 0.7% | 1.9% | 6.0% | 3.8 |
 KFRC | $790M | 22.1 | 15.4 | 16.9 | 26.8% | 3.8% | 24.9% | 19.1% | 1.3 |
 TBI | $182M | -3.7 | 160.0 | — | 21.2% | -1.7% | -16.3% | -5.2% | 83.1 |
 ACN | $112B | 14.8 | 8.6 | 10.3 | 31.9% | 14.7% | 25.0% | 26.8% | 0.6 |
 G | $6B | 11.0 | 7.9 | 8.0 | 35.6% | 15.0% | 22.4% | 17.2% | 2.1 |
 ASGN | $895M | 8.1 | 5.3 | 3.1 | 27.2% | 6.5% | 6.3% | 6.9% | 3.2 |
 NSP | $1B | -181.6 | 29.7 | — | 13.2% | -0.1% | -9.8% | — | 12.4 |
 TNET | $2B | 13.6 | 2.8 | 6.5 | 17.4% | 5.3% | 252.0% | — | 2.8 |
| Industrials Median | — | 25.5 | 13.8 | 20.7 | 32.7% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonMAN — Frequently Asked Questions
Quick answers to the most common questions about buying MAN stock.
What is ManpowerGroup Inc.'s P/E ratio?
ManpowerGroup Inc.'s current P/E ratio is -104.9x. The historical average is 17.9x.
What is ManpowerGroup Inc.'s EV/EBITDA?
ManpowerGroup Inc.'s current EV/EBITDA is 9.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.6x.
What is ManpowerGroup Inc.'s ROE?
ManpowerGroup Inc.'s return on equity (ROE) is -0.6%. The historical average is 13.0%.
Is MAN stock overvalued?
Based on historical data, ManpowerGroup Inc. is trading at a P/E of -104.9x. Compare with industry peers and growth rates for a complete picture.
What is ManpowerGroup Inc.'s dividend yield?
ManpowerGroup Inc.'s current dividend yield is 4.71%.
What are ManpowerGroup Inc.'s profit margins?
ManpowerGroup Inc. has 16.7% gross margin and 1.3% operating margin.
How much debt does ManpowerGroup Inc. have?
ManpowerGroup Inc.'s Debt/EBITDA ratio is 7.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.