Latest Ratios: P/E Ratio 27.2x · EV/EBITDA 28.9x · ROE 10.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.7B | $2.7B | $7.3B | $9.3B | $8.1B | $12.5B | $7.1B | $7.4B | $7.0B | $6.9B | $6.3B |
| Enterprise Value | $3.7B | $2.7B | $7.1B | $9.0B | $7.8B | $12.3B | $7.0B | $7.6B | $6.7B | $6.6B | $6.0B |
| P/E Ratio → | 27.16 | 20.42 | 28.88 | 22.66 | 12.24 | 20.81 | 23.14 | 16.19 | 16.02 | 23.84 | 18.27 |
| P/S Ratio | 0.69 | 0.51 | 1.25 | 1.46 | 1.11 | 1.93 | 1.39 | 1.21 | 1.20 | 1.32 | 1.20 |
| P/B Ratio | 2.84 | 2.14 | 5.27 | 5.87 | 5.14 | 9.02 | 5.87 | 6.43 | 6.54 | 6.28 | 5.78 |
| P/FCF | 13.85 | 10.21 | 20.50 | 15.78 | 12.95 | 21.99 | 12.57 | 15.98 | 13.13 | 16.83 | 17.49 |
| P/OCF | 11.55 | 8.51 | 17.69 | 14.64 | 11.79 | 20.66 | 11.87 | 14.15 | 12.15 | 15.31 | 14.21 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.50 | 1.23 | 1.41 | 1.08 | 1.90 | 1.38 | 1.24 | 1.15 | 1.26 | 1.15 |
| EV / EBITDA | 28.87 | 21.20 | 21.54 | 15.97 | 7.60 | 15.42 | 17.15 | 11.95 | 10.23 | 11.43 | 9.75 |
| EV / EBIT | 47.76 | 13.80 | 19.92 | 15.61 | 7.99 | 16.55 | 20.36 | 13.36 | 11.16 | 12.88 | 10.89 |
| EV / FCF | — | 10.05 | 20.12 | 15.22 | 12.51 | 21.69 | 12.49 | 16.42 | 12.61 | 16.11 | 16.77 |
Margins and return-on-capital ratios measuring operating efficiency
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 | 37.2% | 37.2% | 38.8% | 40.3% | 42.7% | 41.7% | 39.4% | 41.6% | 41.5% | 41.1% | 41.2% |
| Operating Margin | 1.4% | 1.4% | 4.2% | 7.3% | 13.5% | 11.5% | 6.8% | 9.3% | 10.1% | 9.8% | 10.5% |
| Net Profit Margin | 2.5% | 2.5% | 4.3% | 6.4% | 9.1% | 9.3% | 6.0% | 7.5% | 7.5% | 5.5% | 6.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.0% | 10.0% | 17.0% | 26.0% | 44.6% | 46.3% | 26.1% | 41.2% | 40.1% | 26.5% | 32.9% |
| ROA | 4.7% | 4.7% | 8.6% | 13.8% | 22.2% | 21.7% | 12.6% | 21.6% | 23.0% | 15.9% | 19.7% |
| ROIC | 4.6% | 4.6% | 14.5% | 27.2% | 58.4% | 47.1% | 20.7% | 39.8% | 55.1% | 47.2% | 51.4% |
| ROCE | 5.0% | 5.0% | 14.4% | 26.4% | 58.5% | 47.8% | 24.1% | 46.2% | 53.3% | 46.5% | 51.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.33 | 0.33 | 0.29 | 0.25 | 0.25 | 0.32 | 0.44 | 0.42 | 0.00 | 0.00 | 0.00 |
| Debt / EBITDA | 3.33 | 3.33 | 1.22 | 0.72 | 0.38 | 0.56 | 1.28 | 0.75 | 0.00 | 0.00 | 0.00 |
| Net Debt / Equity | — | -0.03 | -0.10 | -0.21 | -0.17 | -0.13 | -0.04 | 0.18 | -0.26 | -0.27 | -0.24 |
| Net Debt / EBITDA | -0.34 | -0.34 | -0.41 | -0.58 | -0.26 | -0.22 | -0.12 | 0.32 | -0.42 | -0.51 | -0.42 |
| Debt / FCF | — | -0.16 | -0.38 | -0.56 | -0.43 | -0.30 | -0.08 | 0.45 | -0.52 | -0.71 | -0.72 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($464M) exceeds total debt ($421M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.52 | 1.52 | 1.66 | 1.83 | 1.83 | 1.67 | 1.76 | 1.73 | 1.80 | 1.91 | 1.89 |
| Quick Ratio | 1.52 | 1.52 | 1.66 | 1.83 | 1.83 | 1.67 | 1.76 | 1.73 | 1.42 | 1.52 | 1.89 |
| Cash Ratio | 0.34 | 0.34 | 0.42 | 0.59 | 0.54 | 0.46 | 0.55 | 0.29 | 0.34 | 0.39 | 0.38 |
| Asset Turnover | — | 1.88 | 2.03 | 2.12 | 2.44 | 2.19 | 2.00 | 2.63 | 3.05 | 2.82 | 2.95 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 10.88 | 10.61 | — |
| Days Sales Outstanding | — | 50.79 | 48.64 | 49.15 | 51.35 | 55.62 | 51.02 | 50.04 | 49.99 | 50.76 | 48.89 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 | 6.6% | 8.7% | 3.0% | 2.2% | 2.3% | 1.4% | 2.2% | 2.0% | 2.0% | 1.7% | 1.8% |
| Payout Ratio | 179.1% | 179.1% | 87.6% | 50.1% | 28.8% | 28.5% | 50.9% | 32.0% | 31.4% | 41.6% | 33.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 4.9% | 3.5% | 4.4% | 8.2% | 4.8% | 4.3% | 6.2% | 6.2% | 4.2% | 5.5% |
| FCF Yield | 7.2% | 9.8% | 4.9% | 6.3% | 7.7% | 4.5% | 8.0% | 6.3% | 7.6% | 5.9% | 5.7% |
| Buyback Yield | 2.5% | 3.4% | 3.8% | 2.7% | 4.0% | 2.3% | 2.2% | 3.8% | 5.1% | 3.3% | 2.8% |
| Total Shareholder Yield | 9.1% | 12.1% | 6.8% | 4.9% | 6.3% | 3.7% | 4.5% | 5.8% | 7.0% | 5.1% | 4.6% |
| Shares Outstanding | — | $100M | $103M | $106M | $109M | $112M | $113M | $116M | $122M | $125M | $129M |
Includes 30+ ratios · 30 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying RHI stock.
Robert Half Inc.'s current P/E ratio is 27.2x. The historical average is 28.7x. This places it at the 64th percentile of its historical range.
Robert Half Inc.'s current EV/EBITDA is 28.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.8x.
Robert Half Inc.'s return on equity (ROE) is 10.0%. The historical average is 24.5%.
Based on historical data, Robert Half Inc. is trading at a P/E of 27.2x. This is at the 64th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Robert Half Inc.'s current dividend yield is 6.57% with a payout ratio of 179.1%.
Robert Half Inc. has 37.2% gross margin and 1.4% operating margin.
Robert Half Inc.'s Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Persistent margin compression risk
Metrics are mathematically derived from official filings.
Margin Compression Reflects Sticky Cost Base
According to the latest quarterly data, RHI's operating margin fell to -4.7% in 2026Q2 from 5.1% in 2024Q2, while gross margin held near 35.5%, indicating that fixed overhead absorption is the primary drag on profitability.
The gross margin decline from 38.8% to 35.5% over the same period suggests some pricing pressure, but the far sharper contraction in operating margin points to SG&A costs that have not adjusted to lower revenue. With SG&A remaining flat near $440-540M per quarter despite a 7% revenue decline, the company appears to be operating with excess capacity in its branch network and sales force. Net margin turned positive at 2.0% in 2026Q2 despite the operating loss, likely due to non-operating items or tax benefits, which warrants scrutiny as it may not reflect core earning power.
Return on Capital Decays as Revenue Contracts
ROIC swung from 4.2% in 2024Q2 to -4.0% in 2026Q2, while ROE fell from 4.5% to 2.2%, based on reported figures, indicating that the company is currently destroying value on its invested capital.
The negative ROIC in the most recent quarter is a stark reversal from the positive mid-single-digit returns seen in 2024, driven by the operating loss and a relatively stable capital base. The decline in ROE, though less severe, reflects the same margin pressure, partially offset by a lower equity base due to buybacks and dividends. This suggests that the company's asset-light model is highly sensitive to volume, and returns may recover quickly if revenue stabilizes, but the current trajectory implies capital is not being deployed efficiently.
Working Capital Efficiency Holds Steady
DSO has remained stable around 53-57 days over the past ten quarters, with DPO at 14-16 days, as per the ratio data, indicating that RHI's working capital management has not deteriorated despite the revenue decline.
The stability in DSO suggests that the company is collecting receivables at a consistent pace, which is notable given the cyclical downturn and potential client payment delays. However, the low DPO relative to DSO implies that RHI is not leveraging supplier credit to fund its operations, consistent with its conservative balance sheet. The cash conversion cycle cannot be fully computed due to missing DIO data, but the stable DSO and DPO suggest that working capital swings are more tied to seasonal payroll tax resets than to structural inefficiencies.
Minimal Debt Provides Strategic Flexibility
RHI's debt-to-equity ratio peaked at 0.33 in 2025Q4 and stood at 0.20 in 2026Q2, with interest coverage data unavailable, but the low leverage suggests the balance sheet can absorb prolonged margin pressure.
The company's conservative capital structure, with total debt fluctuating between $240M and $421M, provides ample headroom for refinancing or strategic actions. The D/EBITDA ratio has been volatile, reaching 28.51 in 2025Q2 when EBITDA was depressed, but the absolute debt levels remain modest relative to the company's cash generation. This fortress-like balance sheet may allow RHI to weather the downturn without distress, but it also suggests management may be overly cautious in not pursuing opportunistic acquisitions during the cycle.
Liquidity Tightens but Remains Adequate
The current ratio declined from 1.83 in 2024Q1 to 1.47 in 2026Q2, with cash fluctuating between $278M and $570M, indicating a still-adequate but tightening liquidity position as per the balance sheet data.
The quick ratio equals the current ratio, reflecting minimal inventory, which is typical for a services firm. The decline in the current ratio is driven by a reduction in cash and possibly higher payables, but the absolute cash balance remains sufficient to cover short-term obligations. Under a severe stress scenario, the company's asset-light model and low fixed costs would likely preserve liquidity, though the negative operating margin could erode cash if the downturn persists.
P/E Misleads in Cyclical Downturn
The most commonly misapplied ratio for RHI is the P/E multiple, which at 33.65 TTM appears expensive but is distorted by depressed earnings; EV/EBITDA at 35.85 is similarly misleading, while forward EV/EBITDA of 8.48 better reflects normalized earnings.
In a cyclical downturn, trailing earnings are temporarily depressed, inflating P/E and EV/EBITDA multiples. For RHI, the TTM P/E of 33.65 and EV/EBITDA of 35.85 are not indicative of the company's long-term valuation, as they are based on trough earnings. The forward EV/EBITDA of 8.48 suggests the market expects a recovery, but this depends on margin normalization. Investors should instead focus on EV/Sales (0.85) or P/FCF (17.16) to gauge valuation relative to the company's revenue and cash generation, which are less distorted by cyclicality. Additionally, the dividend yield of 5.3% may signal that the market is pricing in a dividend cut risk, which is a key risk to monitor.