| Valuation method | Value, $ | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 86.62 | 126 |
| Intrinsic value (DCF) | 0.00 | -100 |
| Graham-Dodd Method | n/a | |
| Graham Formula | 8.42 | -78 |
ManpowerGroup Inc. (NYSE: MAN) is a global leader in workforce solutions, offering comprehensive staffing and employment services across 75 countries through its network of approximately 2,200 offices. The company operates under well-known brands like Manpower and Experis, providing recruitment services for permanent, temporary, and contract positions in administrative, industrial, IT, engineering, and finance sectors. Additionally, ManpowerGroup delivers assessment, training, career management, and HR outsourcing services, catering to businesses seeking scalable workforce solutions. With a strong presence in the Americas, Europe, and Asia Pacific, the company plays a pivotal role in the $600+ billion global staffing industry. Its diversified service portfolio and international footprint position it as a key player in addressing labor market challenges, including talent shortages and digital transformation demands. Founded in 1948 and headquartered in Milwaukee, Wisconsin, ManpowerGroup continues to adapt to evolving workforce trends, leveraging its expertise in recruitment process outsourcing (RPO) and managed service provider (MSP) solutions.
ManpowerGroup presents a mixed investment profile. On the positive side, its global scale, diversified service offerings, and strong brand recognition in staffing provide resilience against regional economic fluctuations. The company’s dividend yield (~4.5%) and consistent payout history may appeal to income-focused investors. However, its low net margin (~0.8% in FY2023) reflects intense competition in the staffing industry, while its debt-to-equity ratio (~1.1) suggests moderate leverage. Revenue growth has been stagnant in recent years, and the stock’s beta of 1.06 indicates sensitivity to broader market movements. The investment case hinges on management’s ability to expand higher-margin services (like RPO and MSP) and capitalize on post-pandemic labor market imbalances. Cyclical exposure to employment trends remains a key risk.
ManpowerGroup competes in the highly fragmented global staffing industry by differentiating through its multi-brand strategy (Manpower, Experis, Talent Solutions) and integrated service model combining temporary staffing with value-added services like upskilling and workforce consulting. Its key competitive advantage lies in its extensive international footprint—particularly strong in Europe (40% of revenue)—which provides diversification benefits and local market expertise. The company has been pivoting toward higher-value solutions (e.g., IT staffing through Experis, MSP/RPO through Talent Solutions) to reduce reliance on low-margin general staffing. However, it faces pricing pressure from regional staffing firms and lacks the technological edge of newer digital-first platforms like Upwork. While its scale enables cost efficiencies in back-office operations, MAN’s EBITDA margins (~3-4%) trail specialized peers like Robert Half (10%+ margins). The company’s main strategic challenge is balancing its legacy staffing business with growth in tech-enabled solutions while competing against both global HR conglomerates (Randstad, Adecco) and niche players dominating specific verticals or geographies.