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ManpowerGroup (MAN) - Comprehensive Stock Analysis
ManpowerGroup Inc. (NYSE: MAN) Analysis
One-Sentence Summary of Key Findings: ManpowerGroup (MAN), a global leader in workforce solutions founded in 1948, reported revenue of approximately $18 billion in 2025 with a GAAP net loss due to one-time charges but showed sequential improvement and 8% reported revenue growth in Q2 2026, while analysts maintain a consensus Hold/Neutral rating with price targets generally below recent trading levels amid intense competition in the staffing sector.[[1]](https://public.com/stocks/man/forecast-price-target)[[2]](https://investor.manpowergroup.com/news-releases/news-release-details/manpowergroup-reports-4th-quarter-2025-results)[[3]](https://www.prnewswire.com/news-releases/manpowergroup-reports-2nd-quarter-2026-results-302827010.html)
Stock Performance and Company Financials
Stock Performance (Historical Context)
Facts:
- Over the long term since its 1988 IPO (adjusted data), the stock has delivered positive returns, with a $1,000 investment growing to approximately $2,996 (roughly 3x).[[4]](https://www.macrotrends.net/stocks/charts/MAN/manpowergroup/stock-price-history)
- In 2025, the stock experienced a significant decline of approximately 46%.[[4]](https://www.macrotrends.net/stocks/charts/MAN/manpowergroup/stock-price-history)
- In 2026 year-to-date through mid-year data points, the stock showed recovery with notable gains (e.g., from ~$29 levels early in the year).[[5]](https://www.marketbeat.com/stocks/NYSE/MAN/)
- 52-week trading range has spanned approximately $25.15 to over $53 in recent periods.[[6]](https://finance.yahoo.com/quote/MAN/)
Interpretations: The stock has exhibited high volatility typical of cyclical staffing companies, with recovery in 2026 potentially reflecting improving demand signals in key markets, though broader economic sensitivity remains a factor.
Uncertainties: Exact performance metrics can vary by data source and adjustment for splits/dividends; forward performance depends on labor market conditions.
Links for more information: Yahoo Finance Historical Data | Macrotrends 38-Year History
Company Financials
Facts (Annual Revenue and Key Metrics, USD in billions unless noted):
| Year | Total Revenue | Gross Profit | Operating Income | Net Income (Common) | Diluted EPS |
|---|
| 2022 | 19.83 | 3.57 | 0.632 | 0.374 | 7.08 |
| 2023 | 18.91 | 3.36 | 0.311 | 0.089 | 1.76 |
| 2024 | 17.85 | 3.09 | 0.306 | 0.145 | 3.01 |
| 2025 | 17.96 | 3.00 | 0.239 | -0.013 | -0.29 |
| TTM | 18.72 | 3.04 | 0.288 | 0.104 | 2.22 |
Source data from Yahoo Finance income statements.[[7]](https://finance.yahoo.com/quote/MAN/financials/)[[7]](https://finance.yahoo.com/quote/MAN/financials/)
2025 Segment Highlights (Facts):
- Total Revenue: $17.957 billion (down 2.1% constant currency vs. prior year).
- Operating Unit Profit: $454.8 million total (Americas $136.9M, Southern Europe $260.6M, Northern Europe -$43.3M, APME $100.6M).
- Full-year 2025 GAAP net loss of $13.3 million included one-time items (goodwill/intangible impairments, restructuring, business sales, pension settlements, hyperinflation effects) totaling ~$3.26 per share impact; adjusted diluted EPS $2.97 (down 38% constant currency).[[8]](https://go.manpowergroup.com/financial-highlights)[[2]](https://investor.manpowergroup.com/news-releases/news-release-details/manpowergroup-reports-4th-quarter-2025-results)
Q2 2026 Update (Facts): Revenues $4.9 billion (+8% reported, +6% constant currency); net earnings $53.5 million ($1.13 diluted EPS) vs. prior year loss.[[3]](https://www.prnewswire.com/news-releases/manpowergroup-reports-2nd-quarter-2026-results-302827010.html)
Balance Sheet Notes (Facts): Solid liquidity with cash positions reported around $871 million (adjusted) in early 2026 presentations; total debt in the $2 billion range in recent filings.[[9]](https://investor.manpowergroup.com/static-files/9969609a-cca0-4637-adf8-3cd3193f3b2f)
Data Limitations/Assumptions: Financial figures are historical and subject to restatements; constant currency adjustments and "adjusted" metrics exclude one-time items (analyst judgment on adjustments varies). TTM data reflects trailing periods and may lag latest quarterly reports. No forward-looking projections included here.
Links for more information: Yahoo Finance Income Statement | ManpowerGroup Investor Relations | Annual Reports
Analyst Ratings
Facts:
- Consensus rating across multiple sources: Hold/Neutral (e.g., 83% Hold from 6 analysts in one aggregation; Overweight in another with 12 ratings).[[1]](https://public.com/stocks/man/forecast-price-target)[[10]](https://www.marketwatch.com/investing/stock/man/analystestimates)
- Number of analysts covering: Typically 6–15 depending on source.
- Consensus price targets: Approximately $36–$45 (e.g., $45.25 from 9 analysts; $37.16 or $36.39 in other aggregates). High target historically $92 (older); recent lows around $30.[[11]](https://www.benzinga.com/quote/MAN/analyst-ratings)
- Recent actions: UBS maintained Neutral (July 2026); mixed Buy/Hold/Overweight distribution.[[11]](https://www.benzinga.com/quote/MAN/analyst-ratings)
Interpretations: The Hold/Neutral consensus suggests analysts view the stock as fairly valued or facing near-term headwinds in the cyclical staffing industry, with limited upside in targets relative to historical ranges.
Uncertainties: Ratings and targets change frequently; aggregates differ by methodology and timing of inclusion.
Data Limitations/Assumptions: Analyst coverage is limited compared to larger peers; price targets are 12-month forward estimates and not guarantees. Data aggregated from multiple platforms and may not reflect all updates simultaneously.
Links for more information: Yahoo Finance Analyst Estimates | MarketBeat Ratings | Benzinga Ratings
Customers and Competitors
Customers
Facts:
- Serves over 400,000 clients annually across a wide range of industries and skills.[[12]](https://go.manpowergroup.us/about-us)
- Connects 3+ million people to work each year; operates in 80+ countries/territories.[[12]](https://go.manpowergroup.us/about-us)
- Client base includes organizations seeking temporary, permanent, professional (e.g., IT via Experis), career management (Right Management), and outsourced solutions.
Interpretations: Highly diversified customer base reduces concentration risk but exposes the company to broad economic cycles affecting hiring across sectors.
Uncertainties: Specific major named customers (e.g., Fortune 500 relationships) are not publicly detailed in aggregate sources; individual client revenue contribution is not disclosed.
Competitors
Facts (Key Peers Comparison):
| Company | Primary Focus | Headquarters | Notes |
|---|
| Adecco Group | Staffing & HR solutions | Switzerland | Largest by some metrics; direct global competitor |
| Randstad NV | Staffing, recruitment, HR services | Netherlands | Second-largest global staffing firm |
| Robert Half | Professional staffing (accounting, finance, IT) | USA | Specialized focus overlapping Experis |
| Kelly Services | Staffing & workforce solutions | USA | Similar temporary/permanent services |
| Allegis Group / Others (e.g., Recruit Holdings) | Staffing & talent solutions | USA / Japan | Regional/global players |
Interpretations: ManpowerGroup ranks as the third-largest staffing firm globally; competition is intense on price, scale, and specialized services (e.g., IT/professional via Experis vs. peers).[[13]](https://www.globaldata.com/company-profile/manpowergroup-inc/competitors/)[[14]](https://en.wikipedia.org/wiki/ManpowerGroup)
Data Limitations/Assumptions: Competitor lists are based on industry classifications and may omit niche or emerging players. Customer and competitor data drawn from public profiles; actual market share dynamics require proprietary data.
Links for more information: GlobalData Competitors | Company About Page
Additional Context: Company Overview, History, and Recent News
Overview (Facts): ManpowerGroup provides innovative workforce solutions including contingent/permanent staffing (Manpower brand), IT and professional resourcing (Experis), career management and consulting (Right Management), and managed services/outsourcing (ManpowerGroup Solutions). It emphasizes talent transformation in a changing world of work, with ~25,000 employees and a focus on AI, upskilling, and human skills.[[15]](https://investor.manpowergroup.com/)
History (Facts): Founded in 1948 in Milwaukee, Wisconsin, by attorneys Elmer Winter and Aaron Scheinfeld as a temporary help agency inspired by their own staffing needs. Expanded nationally and internationally in the 1950s–60s; listed on NYSE in 1962; went through ownership changes (e.g., Parker Pen, Blue Arrow) before re-establishing as independent U.S. holding company in 1991. Rebranded to ManpowerGroup to reflect multiple brands; pioneered the modern staffing industry.[[14]](https://en.wikipedia.org/wiki/ManpowerGroup)[[16]](https://investor.manpowergroup.com/amended-and-restated-articles-incorporation-0)
Recent News Highlights (Facts):
- July 16, 2026: Reported strong Q2 2026 results with revenue growth and return to profitability.[[3]](https://www.prnewswire.com/news-releases/manpowergroup-reports-2nd-quarter-2026-results-302827010.html)
- Ranked #1 on Forbes' 2026 list of America's Best Temporary Staffing Firms; top 5 in professional recruiting.[[17]](https://investor.manpowergroup.com/news-releases)
- Ongoing Employment Outlook Surveys showing stable but cautious global hiring (e.g., 24% Net Employment Outlook for Q1 2026).[[18]](https://investor.manpowergroup.com/news-releases/news-release-details/employers-shift-precision-hiring-strategy-global-employment)
- CEO participation in World Economic Forum events; focus on AI in hiring and future of work trends.[[17]](https://investor.manpowergroup.com/news-releases)
Links for more information: News Releases | Wikipedia Overview (for historical context)