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ManpowerGroup Inc.

MAN Clue Score26
United States Fiscal year ends December CIK 0000871763
$52.78 -2.91% Close, 9 Oct 2026
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Price $52.78 −52.77% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue19.65Operating income0.75Net income0.44EPS, diluted6.27Fiscal year 2017Revenue21.03 +7.0%Operating income0.79Net income0.55 +22.9%EPS, diluted8.04 +28.2%Fiscal year 2018Revenue21.99 +4.5%Operating income0.80Net income0.56 +2.1%EPS, diluted8.56 +6.5%Fiscal year 2019Revenue20.86 −5.1%Operating income0.64Net income0.47 −16.3%EPS, diluted7.72 −9.8%Fiscal year 2020Revenue18.00 −13.7%Operating income0.19Net income0.02 −94.9%EPS, diluted0.41 −94.7%Fiscal year 2021Revenue20.72 +15.1%Operating income0.59Net income0.38 +1,506.7%EPS, diluted6.91 +1,585.4%Fiscal year 2022Revenue19.83 −4.3%Operating income0.58Net income0.37 −2.2%EPS, diluted7.08 +2.5%Fiscal year 2023Revenue18.91 −4.6%Operating income0.26Net income0.09 −76.2%EPS, diluted1.76 −75.1%Fiscal year 2024Revenue17.85 −5.6%Operating income0.31Net income0.15 +63.4%EPS, diluted3.01 +71.0%Fiscal year 2025Revenue17.96 +0.6%Operating income0.15Net income−0.01 −109.2%EPS, diluted−0.29 −109.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 19.65 21.03 21.99 20.86 18.00 20.72 19.83 18.91 17.85 17.96
Growth +7.0% +4.5% −5.1% −13.7% +15.1% −4.3% −4.6% −5.6% +0.6%
Operating income 0.75 0.79 0.80 0.64 0.19 0.59 0.58 0.26 0.31 0.15
Net income 0.44 0.55 0.56 0.47 0.02 0.38 0.37 0.09 0.15 −0.01
Growth +22.9% +2.1% −16.3% −94.9% +1,506.7% −2.2% −76.2% +63.4% −109.2%
EPS, diluted 6.27 8.04 8.56 7.72 0.41 6.91 7.08 1.76 3.01 −0.29
Growth +28.2% +6.5% −9.8% −94.7% +1,585.4% +2.5% −75.1% +71.0% −109.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin17.0%Operating margin3.8%Net margin2.3%Free cash flow margin2.8%Fiscal year 2017Gross margin16.6%Operating margin3.8%Net margin2.6%Free cash flow margin1.6%Fiscal year 2018Gross margin16.3%Operating margin3.6%Net margin2.5%Free cash flow margin1.9%Fiscal year 2019Gross margin16.2%Operating margin3.1%Net margin2.2%Free cash flow margin3.6%Fiscal year 2020Gross margin15.7%Operating margin1.0%Net margin0.1%Free cash flow margin4.9%Fiscal year 2021Gross margin16.4%Operating margin2.8%Net margin1.8%Free cash flow margin2.8%Fiscal year 2022Gross margin18.0%Operating margin2.9%Net margin1.9%Free cash flow margin1.8%Fiscal year 2023Gross margin17.8%Operating margin1.4%Net margin0.5%Free cash flow margin1.4%Fiscal year 2024Gross margin17.3%Operating margin1.7%Net margin0.8%Free cash flow margin1.4%Fiscal year 2025Gross margin16.7%Operating margin0.8%Net margin−0.1%Free cash flow margin−0.9%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 17.0% 16.6% 16.3% 16.2% 15.7% 16.4% 18.0% 17.8% 17.3% 16.7%
Operating margin 3.8% 3.8% 3.6% 3.1% 1.0% 2.8% 2.9% 1.4% 1.7% 0.8%
Net margin 2.3% 2.6% 2.5% 2.2% 0.1% 1.8% 1.9% 0.5% 0.8% −0.1%
Free cash flow margin 2.8% 1.6% 1.9% 3.6% 4.9% 2.8% 1.8% 1.4% 1.4% −0.9%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.60Capital expenditure−0.06Free cash flow0.54Buybacks−0.48Dividends paid−0.12Fiscal year 2017Operating cash flow0.40Capital expenditure−0.05Free cash flow0.35 −36.3%Buybacks−0.20Dividends paid−0.12Fiscal year 2018Operating cash flow0.48Capital expenditure−0.06Free cash flow0.42 +20.9%Buybacks−0.50Dividends paid−0.13Fiscal year 2019Operating cash flow0.81Capital expenditure−0.05Free cash flow0.76 +82.0%Buybacks−0.20Dividends paid−0.13Fiscal year 2020Operating cash flow0.94Capital expenditure−0.05Free cash flow0.89 +16.3%Buybacks−0.26Dividends paid−0.13Fiscal year 2021Operating cash flow0.64Capital expenditure−0.06Free cash flow0.58 −34.4%Buybacks−0.21Dividends paid−0.14Fiscal year 2022Operating cash flow0.42Capital expenditure−0.08Free cash flow0.35 −40.1%Buybacks−0.27Dividends paid−0.14Fiscal year 2023Operating cash flow0.35Capital expenditure−0.08Free cash flow0.27 −22.3%Buybacks−0.18Dividends paid−0.14Fiscal year 2024Operating cash flow0.31Capital expenditure−0.05Free cash flow0.26 −4.4%Buybacks−0.14Dividends paid−0.15Fiscal year 2025Operating cash flow−0.10Capital expenditure−0.06Free cash flow−0.16 −162.5%Buybacks−0.04Dividends paid−0.07
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.60 0.40 0.48 0.81 0.94 0.64 0.42 0.35 0.31 −0.10
Capital expenditure −0.06 −0.05 −0.06 −0.05 −0.05 −0.06 −0.08 −0.08 −0.05 −0.06
Free cash flow 0.54 0.35 0.42 0.76 0.89 0.58 0.35 0.27 0.26 −0.16
Growth −36.3% +20.9% +82.0% +16.3% −34.4% −40.1% −22.3% −4.4% −162.5%
Buybacks −0.48 −0.20 −0.50 −0.20 −0.26 −0.21 −0.27 −0.18 −0.14 −0.04
Dividends paid −0.12 −0.12 −0.13 −0.13 −0.13 −0.14 −0.14 −0.14 −0.15 −0.07

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.60Total debt0.79Net cash (debt)−0.19Shareholders’ equity2.36Debt to equity0.33Fiscal year 2017Cash0.69Total debt0.48Net cash (debt)0.21Shareholders’ equity2.77Debt to equity0.17Fiscal year 2018Cash0.59Total debt1.03Net cash (debt)−0.43Shareholders’ equity2.62Debt to equity0.39Fiscal year 2019Cash1.03Total debt1.01Net cash (debt)0.01Shareholders’ equity2.74Debt to equity0.37Fiscal year 2020Cash1.57Total debt1.10Net cash (debt)0.46Shareholders’ equity2.44Debt to equity0.45Fiscal year 2021Cash0.85Total debt1.10Net cash (debt)−0.25Shareholders’ equity2.52Debt to equity0.44Fiscal year 2022Cash0.64Total debt0.97Net cash (debt)−0.33Shareholders’ equity2.45Debt to equity0.39Fiscal year 2023Cash0.58Total debt0.99Net cash (debt)−0.41Shareholders’ equity2.22Debt to equity0.45Fiscal year 2024Cash0.51Total debt0.93Net cash (debt)−0.42Shareholders’ equity2.13Debt to equity0.44Fiscal year 2025Cash0.87Total debt1.64Net cash (debt)−0.77Shareholders’ equity2.06Debt to equity0.80
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.60 0.69 0.59 1.03 1.57 0.85 0.64 0.58 0.51 0.87
Total debt 0.79 0.48 1.03 1.01 1.10 1.10 0.97 0.99 0.93 1.64
Net cash (debt) −0.19 0.21 −0.43 0.01 0.46 −0.25 −0.33 −0.41 −0.42 −0.77
Shareholders’ equity 2.36 2.77 2.62 2.74 2.44 2.52 2.45 2.22 2.13 2.06
Debt to equity 0.33 0.17 0.39 0.37 0.45 0.44 0.39 0.45 0.44 0.80

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
19.65 21.03 21.99 20.86 18.00 20.72 19.83 18.91 17.85 17.96
Growth +7.0% +4.5% −5.1% −13.7% +15.1% −4.3% −4.6% −5.6% +0.6%
16.32 17.55 18.41 17.49 15.18 17.32 16.26 15.56 14.77 14.96
3.33 3.48 3.58 3.38 2.82 3.41 3.57 3.36 3.09 3.00
Growth +4.5% +2.7% −5.7% −16.3% +20.6% +4.8% −6.0% −8.1% −2.9%
2.59 2.70 2.78 2.73 2.64 2.82 2.99 3.10 2.78 2.85
0.75 0.79 0.80 0.64 0.19 0.59 0.58 0.26 0.31 0.15
Growth +5.9% +1.0% −19.1% −70.9% +212.0% −0.6% −56.0% +19.6% −50.9%
0.70 0.74 0.75 0.69 0.15 0.57 0.56 0.21 0.26 0.09
0.26 0.19 0.20 0.22 0.12 0.19 0.18 0.12 0.11 0.11
0.44 0.55 0.56 0.47 0.02 0.38 0.37 0.09 0.15 −0.01
Growth +22.9% +2.1% −16.3% −94.9% +1,506.7% −2.2% −76.2% +63.4% −109.2%
Per share
6.33 8.13 8.62 7.78 0.41 7.01 7.17 1.78 3.04 −0.29
6.27 8.04 8.56 7.72 0.41 6.91 7.08 1.76 3.01 −0.29
Growth +28.2% +6.5% −9.8% −94.7% +1,585.4% +2.5% −75.1% +71.0% −109.6%
70.1 67.1 64.6 59.9 58.0 54.5 52.2 49.8 47.8 46.6
70.8 67.9 65.1 60.3 58.3 55.4 52.8 50.4 48.3 46.6
Growth −4.1% −4.1% −7.4% −3.3% −5.0% −4.7% −4.5% −4.2% −3.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 0.0% a year over five years.
  • The diluted share count fell 20.1% in five years, so buybacks did some of the work per share.
  • Operating margin is flat at 0.8%.
  • A net loss in 1 of 10 years on file.