ManpowerGroup (MAN) Financials

$43.88 -0.09 (-0.20%)

As of 05/20/2025 03:58 PM Eastern

Annual Income Statements for ManpowerGroup

This table shows ManpowerGroup's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	145	89	374	382	24	466	557	545	444	419
Consolidated Net Income / (Loss)	145	89	374	382	24	466	557	545	444	419
Net Income / (Loss) Continuing Operations	145	89	374	382	24	466	557	545	444	419
Total Pre-Tax Income	257	206	557	568	148	686	755	737	701	661
Total Operating Income	306	256	582	585	188	645	797	789	746	689
Total Gross Profit	3,087	3,358	3,572	3,408	2,825	3,375	3,579	3,485	3,334	3,296
Total Revenue	17,854	18,915	19,828	20,724	18,001	20,864	21,991	21,034	19,654	19,330
Operating Revenue	17,854	18,915	19,828	20,724	18,001	20,864	21,991	21,034	19,654	19,330
Total Cost of Revenue	14,767	15,557	16,255	17,317	15,176	17,488	18,412	17,550	16,320	16,034
Operating Cost of Revenue	14,767	15,557	16,255	17,317	15,176	17,488	18,412	17,550	16,320	16,034
Total Operating Expenses	2,781	3,102	2,991	2,822	2,637	2,730	2,782	2,695	2,588	2,607
Selling, General & Admin Expense	2,781	3,047	2,941	2,822	2,570	2,666	2,782	2,695	2,588	2,607
Impairment Charge	0.00	55	50	0.00	67	64	0.00	-	-	-
Total Other Income / (Expense), net	-49	-50	-25	-17	-40	41	-42	-52	-44	-28
Other Income / (Expense), net	-49	-50	-25	-	-40	41	-42	-52	-	-
Income Tax Expense	112	117	183	186	124	220	198	192	258	242
Basic Earnings per Share	$3.04	$1.78	$7.17	$7.01	$0.41	$7.78	$8.62	$8.13	$6.33	$5.46
Weighted Average Basic Shares Outstanding	47.80M	49.80M	52.20M	54.50M	58M	59.90M	64.60M	67.10M	70.10M	76.80M
Diluted Earnings per Share	$3.01	$1.76	$7.08	$6.91	$0.41	$7.72	$8.56	$8.04	$6.27	$5.40
Weighted Average Diluted Shares Outstanding	48.30M	50.40M	52.80M	55.40M	58.30M	60.30M	65.10M	67.90M	70.80M	77.70M
Weighted Average Basic & Diluted Shares Outstanding	46.69M	48.24M	50.62M	53.65M	54.99M	58.78M	64.60M	67.10M	70.10M	76.80M
Cash Dividends to Common per Share	$3.08	$2.94	$2.72	$2.52	$2.26	$2.18	$2.02	$1.86	$1.72	$1.60

This table shows ManpowerGroup's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	5.60	-13	23	60	75	-150	30	65	143	49	111
Consolidated Net Income / (Loss)	5.60	23	23	60	40	-85	30	65	78	49	111
Net Income / (Loss) Continuing Operations	5.60	-13	23	60	75	-150	30	65	143	49	111
Total Pre-Tax Income	17	48	59	92	58	-55	55	96	110	90	157
Total Operating Income	28	68	71	101	66	-40	70	108	118	101	162
Total Gross Profit	698	755	782	786	764	811	822	862	863	876	879
Total Revenue	4,090	4,400	4,530	4,521	4,403	4,631	4,676	4,856	4,752	4,809	4,801
Operating Revenue	4,090	4,400	4,530	4,521	4,403	4,631	4,676	4,856	4,752	4,809	4,801
Total Cost of Revenue	3,392	3,645	3,748	3,735	3,640	3,820	3,854	3,994	3,889	3,934	3,922
Operating Cost of Revenue	3,392	3,645	3,748	3,735	3,640	3,820	3,854	3,994	3,889	3,934	3,922
Total Operating Expenses	670	687	711	685	698	850	752	755	745	775	717
Selling, General & Admin Expense	670	687	711	685	698	795	752	755	745	725	717
Total Other Income / (Expense), net	-12	-21	-12	-8.70	-8.40	-16	-15	-12	-7.50	-11	-4.70
Interest Expense	12	-	12	-	-	-	-	-	7.50	-	-
Income Tax Expense	11	61	36	32	-18	95	24	31	-33	42	46
Basic Earnings per Share	$0.12	$0.49	$0.48	$1.25	$0.82	($1.66)	$0.61	$1.30	$1.53	$0.99	$2.15
Weighted Average Basic Shares Outstanding	46.80M	47.80M	47.60M	47.90M	48.30M	49.80M	49.50M	50.20M	50.90M	52.20M	51.70M
Diluted Earnings per Share	$0.12	$0.49	$0.47	$1.24	$0.81	($1.64)	$0.60	$1.29	$1.51	$0.98	$2.13
Weighted Average Diluted Shares Outstanding	47.30M	48.30M	48.10M	48.40M	48.90M	50.40M	50.10M	50.70M	51.60M	52.80M	52.30M
Weighted Average Basic & Diluted Shares Outstanding	46.28M	46.69M	46.94M	47.45M	47.70M	48.24M	48.81M	49.58M	50.43M	50.62M	50.56M

This table details how cash moves in and out of ManpowerGroup's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-72	-58	-209	-719	541	434	-97	7.10	-132	31
Net Cash From Operating Activities	309	348	423	645	936	814	483	401	600	512
Net Cash From Continuing Operating Activities	309	348	423	716	936	814	483	401	600	512
Net Income / (Loss) Continuing Operations	145	89	374	382	24	466	557	545	444	419
Consolidated Net Income / (Loss)	145	89	374	382	24	466	557	545	444	419
Depreciation Expense	87	89	85	73	76	77	86	84	85	78
Non-Cash Adjustments To Reconcile Net Income	45	93	100	125	143	1.30	51	47	47	40
Changes in Operating Assets and Liabilities, net	33	78	-135	136	693	270	-210	-276	24	-25
Net Cash From Investing Activities	-68	-74	-85	-987	-42	-16	-55	-75	-110	-298
Net Cash From Continuing Investing Activities	-68	-74	-85	-987	-42	-16	-55	-75	-110	-298
Purchase of Property, Plant & Equipment	-51	-78	-76	-64	-51	-53	-65	-55	-57	-52
Acquisitions	-4.90	0.00	-16	-924	-0.70	20	-9.10	-33	-58	-261
Divestitures	-12	4.10	6.70	1.60	9.00	17	19	13	-	-
Net Cash From Financing Activities	-282	-350	-482	-284	-435	-337	-485	-319	-598	-144
Net Cash From Continuing Financing Activities	-282	-350	-482	-354	-435	-337	-485	-319	-598	-144
Repayment of Debt	12	-17	-482	-5.20	-41	9.90	-411	-0.40	-6.70	-4.50
Repurchase of Common Equity	-140	-180	-270	-210	-265	-203	-501	-204	-482	-580
Payment of Dividends	-146	-145	-141	-138	-130	-131	-129	-134	-118	-121
Issuance of Debt	3.70	1.00	421	0.50	2.70	9.60	587	5.60	0.00	458
Issuance of Common Equity	0.80	1.80	0.30	5.10	7.40	-	-	44	18	104
Other Financing Activities, net	-13	-10	-10	-6.30	-9.50	-23	-31	-31	-8.30	-0.70
Effect of Exchange Rate Changes	-31	18	-65	-93	83	-27	-40	-	-24	-38
Cash Interest Paid	85	76	38	37	41	42	50	37	37	32
Cash Income Taxes Paid	188	182	202	140	150	179	185	127	164	76

This table details how cash moves in and out of ManpowerGroup's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-114	99	-58	-136	24	10	164	-299	68	112	-359
Net Cash From Operating Activities	-153	248	84	-138	116	114	266	-156	125	134	268
Net Cash From Continuing Operating Activities	-153	248	84	-138	116	114	266	-156	125	134	268
Net Income / (Loss) Continuing Operations	5.60	23	23	60	40	-85	30	65	78	49	111
Consolidated Net Income / (Loss)	5.60	23	23	60	40	-85	30	65	78	49	111
Depreciation Expense	21	22	22	21	22	24	22	22	21	21	21
Non-Cash Adjustments To Reconcile Net Income	9.10	17	9.30	8.60	10	66	12	9.70	5.20	60	4.60
Changes in Operating Assets and Liabilities, net	-189	187	30	-228	45	108	202	-252	21	5.20	131
Net Cash From Investing Activities	-15	-26	-20	-12	-9.70	-22	-18	-21	-13	-20	-25
Net Cash From Continuing Investing Activities	-15	-26	-20	-12	-9.70	-22	-18	-21	-13	-20	-25
Purchase of Property, Plant & Equipment	-14	-11	-16	-12	-12	-23	-21	-21	-13	-20	-14
Acquisitions	-1.00	-	-4.90	-	0.00	-	-	-	0.00	-	-
Divestitures	0.10	-15	0.70	-	2.10	1.50	2.50	0.10	0.00	-0.30	6.00
Net Cash From Financing Activities	46	-104	-140	19	-58	-124	-58	-119	-49	-87	-539
Net Cash From Continuing Financing Activities	46	-104	-140	19	-58	-124	-58	-119	-49	-87	-539
Repayment of Debt	77	-0.30	-112	121	3.50	-2.80	-8.40	4.90	-11	8.60	-458
Repurchase of Common Equity	-25	-34	-29	-27	-50	-50	-50	-50	-30	-25	-85
Payment of Dividends	0.00	-72	-	-74	0.00	-71	-	-74	0.00	-69	-
Issuance of Debt	0.00	3.10	0.10	0.50	0.00	0.30	0.30	0.20	0.20	0.20	5.00
Issuance of Common Equity	0.00	-	0.10	0.30	0.40	-	0.10	-	1.70	-0.10	0.10
Other Financing Activities, net	-5.90	-0.10	0.10	-1.90	-11	-0.10	-0.50	-	-9.80	-2.20	-0.60
Effect of Exchange Rate Changes	7.70	-19	19	-5.00	-25	42	-26	-3.50	5.10	85	-63
Cash Interest Paid	16	15	33	23	14	13	14	38	11	7.30	13
Cash Income Taxes Paid	26	47	51	54	36	41	50	63	29	51	61

This table presents ManpowerGroup's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	8,201	8,830	9,130	9,829	9,328	9,224	8,520	8,884	7,574	7,518
Total Current Assets	4,970	5,572	5,934	6,423	6,666	6,485	5,997	6,171	5,133	5,093
Cash & Equivalents	509	581	639	848	1,567	1,026	592	689	599	731
Accounts Receivable	4,297	4,830	5,137	5,448	4,912	5,273	5,276	5,371	4,413	4,243
Prepaid Expenses	164	161	158	127	187	186	129	112	121	119
Plant, Property, & Equipment, net	118	130	112	117	135	143	153	158	147	147
Plant, Property & Equipment, gross	488	527	585	595	615	606	614	633	567	585
Accumulated Depreciation	370	397	473	478	480	462	461	476	420	438
Total Noncurrent Assets	3,112	3,128	3,084	3,289	2,527	2,596	2,370	2,555	2,294	2,278
Goodwill	1,563	1,587	1,628	1,722	1,226	1,260	1,297	1,343	1,240	1,257
Intangible Assets	486	520	550	584	249	269	246	284	294	327
Other Noncurrent Operating Assets	1,063	1,022	906	984	1,052	1,067	827	928	760	694
Total Liabilities & Shareholders' Equity	8,201	8,830	9,130	9,829	9,328	9,224	8,520	8,884	7,574	7,518
Total Liabilities	6,074	6,596	6,672	7,297	6,875	6,462	5,821	6,026	5,128	4,825
Total Current Liabilities	4,437	4,800	4,912	5,781	4,685	4,441	4,176	4,810	3,659	3,451
Short-Term Debt	23	12	27	553	20	61	50	469	40	44
Accounts Payable	2,613	2,723	2,831	3,039	2,527	2,475	2,267	2,279	1,914	1,659
Accrued Expenses	815	936	844	884	834	752	621	722	607	695
Other Taxes Payable	986	1,129	1,209	1,305	1,303	1,154	1,238	1,340	1,098	1,053
Total Noncurrent Liabilities	1,637	1,796	1,761	1,517	2,190	2,021	1,645	1,216	1,469	1,374
Long-Term Debt	929	991	960	566	1,104	1,012	1,025	478	786	811
Other Noncurrent Operating Liabilities	708	806	801	951	1,086	1,009	620	738	683	563
Commitments & Contingencies	0.00	0.00	0.00	0.00	-	-	-	-	-	-
Total Equity & Noncontrolling Interests	2,127	2,234	2,458	2,532	2,454	2,762	2,699	2,858	2,446	2,693
Total Preferred & Common Equity	2,125	2,223	2,447	2,522	2,441	2,743	2,625	2,775	2,362	2,625
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00
Total Common Equity	2,125	2,223	2,447	2,522	2,441	2,743	2,625	2,775	2,362	2,625
Common Stock	3,547	3,516	3,485	3,446	3,404	3,372	3,339	3,304	3,228	3,188
Retained Earnings	3,812	3,813	3,869	3,635	3,389	3,494	3,158	2,713	2,291	1,966
Treasury Stock	-4,791	-4,640	-4,448	-4,169	-3,954	-3,682	-3,472	-2,954	-2,732	-2,243
Accumulated Other Comprehensive Income / (Loss)	-443	-466	-459	-389	-397	-441	-400	-288	-426	-286
Noncontrolling Interest	1.70	11	11	10	13	19	74	83	85	68

This table presents ManpowerGroup's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	8,037	8,478	8,454	8,489	8,589	8,869	8,890	8,557
Total Current Assets	4,750	5,183	5,233	5,250	5,337	5,591	5,658	5,422
Cash & Equivalents	395	411	469	605	571	408	707	528
Accounts Receivable	4,169	4,593	4,596	4,459	4,600	4,995	4,773	4,720
Prepaid Expenses	186	179	169	187	165	188	178	174
Plant, Property, & Equipment, net	122	127	122	124	120	116	110	104
Plant, Property & Equipment, gross	512	540	514	518	511	517	595	537
Accumulated Depreciation	389	413	392	394	391	401	485	433
Total Noncurrent Assets	3,165	3,169	3,098	3,115	3,133	3,162	3,121	3,031
Goodwill	1,578	1,594	1,573	1,575	1,620	1,635	1,632	1,640
Intangible Assets	479	498	500	508	524	534	541	554
Other Noncurrent Operating Assets	1,108	1,077	1,025	1,032	989	993	948	836
Total Liabilities & Shareholders' Equity	8,037	8,478	8,454	8,489	8,589	8,869	8,890	8,557
Total Liabilities	5,932	6,301	6,308	6,301	6,176	6,419	6,380	6,140
Total Current Liabilities	4,239	4,525	4,578	4,504	4,428	4,616	4,580	4,450
Short-Term Debt	101	25	137	16	14	22	17	13
Accounts Payable	2,410	2,616	2,590	2,615	2,578	2,728	2,662	2,584
Accrued Expenses	672	862	794	820	790	750	777	773
Other Taxes Payable	954	1,022	1,058	1,054	1,046	1,116	1,124	1,080
Other Current Liabilities	103	-	-	-	-	-	-	-
Total Noncurrent Liabilities	1,694	1,776	1,730	1,797	1,748	1,803	1,801	1,690
Long-Term Debt	971	1,000	962	969	949	979	972	883
Other Noncurrent Operating Liabilities	722	776	768	828	799	824	828	807
Total Equity & Noncontrolling Interests	2,105	2,178	2,146	2,188	2,413	2,450	2,509	2,417
Total Preferred & Common Equity	2,103	2,176	2,137	2,177	2,403	2,439	2,498	2,406
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,103	2,176	2,137	2,177	2,403	2,439	2,498	2,406
Common Stock	3,554	3,541	3,526	3,520	3,506	3,499	3,492	3,474
Retained Earnings	3,818	3,862	3,839	3,853	3,969	3,938	3,946	3,889
Treasury Stock	-4,822	-4,757	-4,728	-4,700	-4,589	-4,538	-4,488	-4,423
Accumulated Other Comprehensive Income / (Loss)	-447	-470	-500	-496	-483	-460	-452	-533
Noncontrolling Interest	2.10	1.60	9.00	11	11	11	11	11

This table displays calculated financial ratios and metrics derived from ManpowerGroup's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-5.61%	-4.60%	-4.33%	15.13%	-13.72%	-5.13%	4.55%	7.02%	1.68%	-6.90%
EBITDA Growth	16.60%	-54.11%	-2.60%	194.11%	-70.63%	-9.26%	2.29%	-1.10%	8.37%	-4.62%
EBIT Growth	24.72%	-63.04%	-4.83%	296.34%	-78.45%	-9.17%	2.36%	-1.10%	8.22%	-4.31%
NOPAT Growth	56.72%	-71.73%	-0.95%	1,203.52%	-93.10%	-25.45%	0.67%	23.77%	7.91%	-3.22%
Net Income Growth	63.40%	-76.24%	-2.25%	1,506.72%	-94.89%	-16.35%	2.07%	22.92%	5.84%	-1.96%
EPS Growth	71.02%	-75.14%	2.46%	1,585.37%	-94.69%	-9.81%	6.47%	28.23%	16.11%	1.89%
Operating Cash Flow Growth	-11.20%	-17.74%	-34.35%	-31.14%	14.98%	68.58%	20.50%	-33.18%	17.30%	67.05%
Free Cash Flow Firm Growth	-0.97%	-32.67%	197.27%	-147.98%	2.21%	55.43%	270.08%	-77.09%	85.61%	-23.69%
Invested Capital Growth	-3.20%	-5.35%	0.12%	39.39%	-28.43%	-11.72%	2.11%	16.56%	-5.10%	3.89%
Revenue Q/Q Growth	-1.28%	-0.94%	-2.81%	1.61%	-0.78%	-0.93%	-1.10%	3.35%	0.01%	-0.86%
EBITDA Q/Q Growth	19.49%	-38.79%	-12.56%	4.75%	-29.20%	1.79%	-6.93%	-2.42%	3.27%	-1.43%
EBIT Q/Q Growth	29.50%	-48.02%	-13.96%	5.08%	-38.69%	2.13%	-7.53%	-2.80%	3.56%	-1.74%
NOPAT Q/Q Growth	1,480.72%	-65.94%	-13.05%	9.18%	-70.50%	-3.99%	-10.46%	19.74%	1.88%	0.14%
Net Income Q/Q Growth	280.84%	-60.00%	-14.31%	10.04%	-72.45%	-4.02%	-9.44%	19.47%	0.80%	1.62%
EPS Q/Q Growth	242.05%	-59.82%	-12.70%	11.27%	-70.92%	-2.53%	-7.36%	20.54%	3.13%	2.86%
Operating Cash Flow Q/Q Growth	76.38%	-5.53%	-23.19%	6.83%	-9.50%	20.38%	16.30%	-17.34%	-4.94%	5.66%
Free Cash Flow Firm Q/Q Growth	977.78%	-14.56%	196.65%	-175.02%	-11.47%	12.11%	21.58%	-60.15%	16.35%	-14.58%
Invested Capital Q/Q Growth	-7.92%	-5.31%	0.73%	44.73%	-4.51%	-4.43%	-0.76%	4.60%	-6.05%	-3.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	17.29%	17.75%	18.02%	16.44%	15.69%	16.18%	16.27%	16.57%	16.96%	17.05%
EBITDA Margin	1.92%	1.56%	3.24%	3.18%	1.24%	3.66%	3.82%	3.91%	4.23%	3.97%
Operating Margin	1.71%	1.35%	2.93%	2.82%	1.04%	3.09%	3.62%	3.75%	3.79%	3.56%
EBIT Margin	1.44%	1.09%	2.81%	2.82%	0.82%	3.29%	3.43%	3.51%	3.79%	3.56%
Profit (Net Income) Margin	0.81%	0.47%	1.89%	1.85%	0.13%	2.23%	2.53%	2.59%	2.26%	2.17%
Tax Burden Percent	56.50%	43.13%	67.10%	67.31%	16.11%	67.94%	73.76%	73.97%	63.27%	63.45%
Interest Burden Percent	100.00%	100.00%	100.00%	97.04%	100.00%	100.00%	100.00%	100.00%	94.07%	95.91%
Effective Tax Rate	43.50%	56.87%	32.90%	32.69%	83.89%	32.06%	26.24%	26.03%	36.73%	36.55%
Return on Invested Capital (ROIC)	6.62%	4.04%	13.92%	16.38%	1.25%	14.63%	18.66%	20.17%	17.18%	15.81%
ROIC Less NNEP Spread (ROIC-NNEP)	0.19%	-1.56%	8.58%	29.86%	4.50%	25.01%	10.31%	4.35%	1.27%	49.32%
Return on Net Nonoperating Assets (RNNOA)	0.04%	-0.26%	1.06%	-1.03%	-0.34%	2.43%	1.38%	0.40%	0.09%	-0.93%
Return on Equity (ROE)	6.65%	3.79%	14.98%	15.34%	0.91%	17.06%	20.04%	20.57%	17.27%	14.88%
Cash Return on Invested Capital (CROIC)	9.87%	9.54%	13.80%	-16.53%	34.40%	27.07%	16.57%	4.87%	22.42%	12.00%
Operating Return on Assets (OROA)	3.02%	2.29%	5.88%	6.11%	1.59%	7.73%	8.67%	8.96%	9.88%	9.37%
Return on Assets (ROA)	1.70%	0.99%	3.94%	3.99%	0.26%	5.25%	6.40%	6.63%	5.88%	5.70%
Return on Common Equity (ROCE)	6.64%	3.77%	14.92%	15.27%	0.91%	16.77%	19.48%	19.92%	16.76%	14.70%
Return on Equity Simple (ROE_SIMPLE)	6.83%	3.99%	15.27%	15.16%	0.98%	16.98%	21.21%	19.65%	18.79%	15.97%
Net Operating Profit after Tax (NOPAT)	173	110	390	394	30	438	588	584	472	437
NOPAT Margin	0.97%	0.58%	1.97%	1.90%	0.17%	2.10%	2.67%	2.78%	2.40%	2.26%
Net Nonoperating Expense Percent (NNEP)	6.43%	5.60%	5.34%	-13.49%	-3.25%	-10.39%	8.35%	15.82%	15.91%	-33.51%
Return On Investment Capital (ROIC_SIMPLE)	5.61%	3.41%	11.33%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	82.71%	82.25%	81.98%	83.56%	84.31%	83.82%	83.73%	83.43%	83.04%	82.95%
SG&A Expenses to Revenue	15.58%	16.11%	14.83%	13.62%	14.28%	12.78%	12.65%	12.81%	13.17%	13.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	15.58%	16.40%	15.08%	13.62%	14.65%	13.09%	12.65%	12.81%	13.17%	13.49%
Earnings before Interest and Taxes (EBIT)	257	206	557	585	148	686	755	737	746	689
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	343	295	642	659	224	763	841	822	831	767
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.27	1.67	1.58	1.91	1.89	1.81	1.29	2.49	2.05	1.88
Price to Tangible Book Value (P/TBV)	35.79	31.72	14.32	22.29	4.78	4.08	3.13	6.01	5.85	4.74
Price to Revenue (P/Rev)	0.15	0.20	0.19	0.23	0.26	0.24	0.15	0.33	0.25	0.26
Price to Earnings (P/E)	18.67	41.76	10.33	12.59	194.05	10.65	6.08	12.65	10.91	11.78
Dividend Yield	5.34%	3.87%	3.56%	2.84%	2.82%	2.59%	3.69%	1.79%	2.38%	2.39%
Earnings Yield	5.36%	2.39%	9.68%	7.95%	0.52%	9.39%	16.43%	7.90%	9.17%	8.49%
Enterprise Value to Invested Capital (EV/IC)	1.23	1.56	1.50	1.82	2.08	1.79	1.24	2.32	1.93	1.82
Enterprise Value to Revenue (EV/Rev)	0.18	0.22	0.21	0.25	0.23	0.24	0.18	0.34	0.26	0.27
Enterprise Value to EBITDA (EV/EBITDA)	9.19	14.06	6.58	7.73	18.70	6.59	4.69	8.81	6.20	6.69
Enterprise Value to EBIT (EV/EBIT)	12.28	20.11	7.58	8.70	28.35	7.33	5.23	9.82	6.91	7.44
Enterprise Value to NOPAT (EV/NOPAT)	18.24	37.53	10.81	12.93	138.53	11.47	6.71	12.40	10.92	11.73
Enterprise Value to Operating Cash Flow (EV/OCF)	10.20	11.89	9.97	7.90	4.47	6.17	8.17	18.06	8.59	10.03
Enterprise Value to Free Cash Flow (EV/FCFF)	12.23	15.89	10.91	0.00	5.05	6.19	7.56	51.36	8.37	15.47
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.45	0.45	0.40	0.44	0.46	0.39	0.40	0.33	0.34	0.32
Long-Term Debt to Equity	0.44	0.44	0.39	0.22	0.45	0.37	0.38	0.17	0.32	0.30
Financial Leverage	0.20	0.16	0.12	-0.03	-0.08	0.10	0.13	0.09	0.07	-0.02
Leverage Ratio	3.91	3.83	3.80	3.84	3.56	3.25	3.13	3.10	2.94	2.61
Compound Leverage Factor	3.91	3.83	3.80	3.73	3.56	3.25	3.13	3.10	2.76	2.50
Debt to Total Capital	30.94%	30.98%	28.64%	30.64%	31.42%	27.99%	28.50%	24.90%	25.23%	24.10%
Short-Term Debt to Total Capital	0.76%	0.37%	0.77%	15.14%	0.57%	1.59%	1.33%	12.34%	1.22%	1.25%
Long-Term Debt to Total Capital	30.18%	30.60%	27.87%	15.50%	30.85%	26.40%	27.17%	12.56%	24.01%	22.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.06%	0.33%	0.31%	0.27%	0.35%	0.48%	1.95%	2.17%	2.58%	1.91%
Common Equity to Total Capital	69.01%	68.69%	71.05%	69.09%	68.23%	71.53%	69.55%	72.93%	72.19%	73.99%
Debt to EBITDA	2.77	3.40	1.54	1.70	5.02	1.41	1.28	1.15	0.99	1.12
Net Debt to EBITDA	1.29	1.43	0.54	0.41	-1.98	0.06	0.58	0.31	0.27	0.16
Long-Term Debt to EBITDA	2.71	3.36	1.50	0.86	4.93	1.33	1.22	0.58	0.95	1.06
Debt to NOPAT	5.51	9.09	2.53	2.84	37.18	2.45	1.83	1.62	1.75	1.96
Net Debt to NOPAT	2.56	3.82	0.89	0.69	-14.66	0.11	0.82	0.44	0.48	0.29
Long-Term Debt to NOPAT	5.38	8.98	2.46	1.44	36.50	2.31	1.74	0.82	1.67	1.86
Altman Z-Score	3.28	3.27	3.45	3.30	3.15	3.76	4.00	3.94	4.14	4.12
Noncontrolling Interest Sharing Ratio	0.29%	0.46%	0.42%	0.45%	0.60%	1.69%	2.81%	3.15%	2.96%	1.20%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.12	1.16	1.21	1.11	1.42	1.46	1.44	1.28	1.40	1.48
Quick Ratio	1.08	1.13	1.18	1.09	1.38	1.42	1.41	1.26	1.37	1.44
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	258	261	387	-398	829	811	522	141	615	332
Operating Cash Flow to CapEx	605.09%	445.27%	559.92%	1,004.36%	1,846.94%	1,539.51%	746.68%	732.91%	1,054.48%	978.01%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-22.99	0.00	0.00	0.00	0.00	13.92	11.76
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	37.27	0.00	0.00	0.00	0.00	13.57	18.14
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	33.56	0.00	0.00	0.00	0.00	12.29	16.28
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.10	2.11	2.09	2.16	1.94	2.35	2.53	2.56	2.60	2.63
Accounts Receivable Turnover	3.91	3.80	3.75	4.00	3.53	3.96	4.13	4.30	4.54	4.61
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	143.81	156.25	173.17	164.54	129.32	141.02	141.74	137.93	133.52	130.52
Accounts Payable Turnover	5.54	5.60	5.54	6.22	6.07	7.38	8.10	8.37	9.13	10.02
Days Sales Outstanding (DSO)	93.30	96.17	97.43	91.24	103.26	92.28	88.35	84.89	80.38	79.09
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	65.94	65.16	65.91	58.67	60.15	49.48	45.06	43.61	39.96	36.44
Cash Conversion Cycle (CCC)	27.35	31.01	31.52	32.57	43.11	42.80	43.29	41.27	40.42	42.65
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,570	2,655	2,806	2,802	2,010	2,809	3,182	3,116	2,673	2,817
Invested Capital Turnover	6.83	6.93	7.07	8.61	7.47	6.96	6.98	7.27	7.16	6.99
Increase / (Decrease) in Invested Capital	-85	-150	3.40	792	-799	-373	66	443	-144	106
Enterprise Value (EV)	3,154	4,140	4,221	5,093	4,188	5,024	3,945	7,242	5,152	5,128
Market Capitalization	2,709	3,708	3,862	4,813	4,618	4,958	3,387	6,901	4,841	4,936
Book Value per Share	$45.28	$45.55	$48.41	$46.49	$42.43	$46.52	$42.45	$41.87	$35.22	$35.65
Tangible Book Value per Share	$1.61	$2.40	$5.33	$3.98	$16.80	$20.59	$17.49	$17.32	$12.34	$14.14
Total Capital	3,080	3,237	3,445	3,650	3,578	3,835	3,774	3,805	3,272	3,548
Total Debt	953	1,003	987	1,118	1,124	1,073	1,075	948	825	855
Total Long-Term Debt	929	991	960	566	1,104	1,012	1,025	478	786	811
Net Debt	443	421	348	271	-443	48	484	259	227	125
Capital Expenditures (CapEx)	51	78	76	64	51	53	65	55	57	52
Debt-free, Cash-free Net Working Capital (DFCFNWC)	47	203	410	347	435	1,078	1,279	1,141	915	955
Debt-free Net Working Capital (DFNWC)	557	785	1,049	1,195	2,002	2,104	1,871	1,830	1,514	1,686
Net Working Capital (NWC)	533	772	1,023	642	1,982	2,043	1,821	1,361	1,474	1,642
Net Nonoperating Expense (NNE)	28	22	17	12	6.43	-28	31	38	28	18
Net Nonoperating Obligations (NNO)	443	421	348	271	-443	48	484	259	227	125
Total Depreciation and Amortization (D&A)	87	89	85	73	76	77	86	84	85	78
Debt-free, Cash-free Net Working Capital to Revenue	0.26%	1.07%	2.07%	1.67%	2.42%	5.17%	5.82%	5.43%	4.66%	4.94%
Debt-free Net Working Capital to Revenue	3.12%	4.15%	5.29%	5.77%	11.12%	10.09%	8.51%	8.70%	7.70%	8.72%
Net Working Capital to Revenue	2.99%	4.08%	5.16%	3.10%	11.01%	9.79%	8.28%	6.47%	7.50%	8.49%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.04	$1.78	$7.17	$7.01	$0.41	$7.78	$8.62	$8.13	$6.33	$5.46
Adjusted Weighted Average Basic Shares Outstanding	47.80M	49.80M	52.20M	54.50M	58M	59.90M	64.60M	67.10M	70.10M	76.80M
Adjusted Diluted Earnings per Share	$3.01	$1.76	$7.08	$6.91	$0.41	$7.72	$8.56	$8.04	$6.27	$5.40
Adjusted Weighted Average Diluted Shares Outstanding	48.30M	50.40M	52.80M	55.40M	58.30M	60.30M	65.10M	67.90M	70.80M	77.70M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	46.69M	48.24M	50.62M	53.65M	54.99M	58.78M	60.38M	66.16M	67.64M	72.29M
Normalized Net Operating Profit after Tax (NOPAT)	173	218	424	394	178	482	588	584	472	437
Normalized NOPAT Margin	0.97%	1.15%	2.14%	1.90%	0.99%	2.31%	2.67%	2.78%	2.40%	2.26%
Pre Tax Income Margin	1.44%	1.09%	2.81%	2.74%	0.82%	3.29%	3.43%	3.51%	3.57%	3.42%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	33.84	0.00	0.00	0.00	0.00	16.87	24.43
NOPAT to Interest Expense	0.00	0.00	0.00	22.78	0.00	0.00	0.00	0.00	10.67	15.50
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	30.13	0.00	0.00	0.00	0.00	15.58	22.57
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	19.07	0.00	0.00	0.00	0.00	9.38	13.65
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	100.62%	163.18%	37.72%	36.04%	545.80%	28.22%	23.21%	24.51%	26.68%	28.86%
Augmented Payout Ratio	197.11%	365.65%	109.95%	90.95%	1,657.98%	71.81%	113.15%	61.90%	135.36%	167.27%

This table displays calculated financial ratios and metrics derived from ManpowerGroup's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-7.11%	-4.98%	-3.11%	-6.91%	-7.34%	-3.72%	-2.61%	-4.30%	-7.60%	-10.65%	-6.61%
EBITDA Growth	-37.55%	692.11%	21.20%	-3.07%	-43.05%	-112.51%	-57.13%	-41.85%	-13.19%	-35.75%	6.71%
EBIT Growth	-50.96%	272.66%	29.43%	-3.55%	-51.23%	-139.19%	-65.11%	-46.98%	-15.00%	-39.50%	4.19%
NOPAT Growth	-79.22%	32.26%	-29.48%	-10.20%	-43.49%	-150.86%	-66.27%	-42.29%	63.47%	-52.30%	13.51%
Net Income Growth	-85.89%	126.63%	-24.75%	-7.82%	-48.97%	-273.51%	-72.78%	-46.64%	-15.07%	-56.17%	13.92%
EPS Growth	-85.19%	129.88%	-21.67%	-3.88%	-46.36%	-267.35%	-71.83%	-43.67%	-10.12%	-51.24%	20.34%
Operating Cash Flow Growth	-232.07%	117.77%	-68.57%	11.49%	-6.90%	-15.21%	-0.82%	-216.02%	76.49%	-48.80%	42.88%
Free Cash Flow Firm Growth	-176.00%	-45.84%	104.77%	2,743.42%	52.47%	140.47%	102.68%	101.42%	125.09%	107.52%	-371.77%
Invested Capital Growth	8.35%	-3.20%	-0.46%	-8.80%	-8.03%	-5.35%	0.68%	2.06%	-1.79%	0.12%	43.86%
Revenue Q/Q Growth	-7.03%	-2.88%	0.21%	2.67%	-4.91%	-0.96%	-3.72%	2.18%	-1.18%	0.17%	-5.38%
EBITDA Q/Q Growth	-45.11%	-2.81%	-18.63%	43.87%	620.39%	-119.90%	-34.92%	-15.48%	14.32%	-31.82%	-11.74%
EBIT Q/Q Growth	-58.65%	-3.67%	-23.38%	60.70%	245.57%	-172.21%	-42.90%	-18.74%	16.96%	-35.71%	-13.23%
NOPAT Q/Q Growth	150.49%	-168.69%	-58.53%	-23.80%	412.12%	-171.51%	-47.20%	-52.05%	180.92%	-52.58%	-9.67%
Net Income Q/Q Growth	-75.11%	-1.32%	-62.06%	51.39%	146.98%	-378.88%	-53.53%	-16.20%	59.75%	-56.24%	-8.92%
EPS Q/Q Growth	-75.51%	4.26%	-62.10%	53.09%	149.39%	-373.33%	-53.49%	-14.57%	54.08%	-53.99%	-6.99%
Operating Cash Flow Q/Q Growth	-161.87%	196.53%	160.55%	-218.88%	2.02%	-57.21%	270.54%	-225.04%	-7.08%	-49.94%	643.41%
Free Cash Flow Firm Q/Q Growth	-408.94%	64.82%	-87.93%	7.39%	153.45%	523.21%	67.63%	-94.24%	299.73%	106.94%	11.10%
Invested Capital Q/Q Growth	8.23%	-7.92%	0.57%	8.11%	-3.31%	-5.31%	-7.85%	9.01%	-0.50%	0.73%	-6.59%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	17.07%	17.16%	17.26%	17.38%	17.34%	17.51%	17.58%	17.76%	18.16%	18.21%	18.30%
EBITDA Margin	1.21%	2.05%	2.04%	2.52%	1.80%	-0.33%	1.63%	2.42%	2.92%	2.53%	3.71%
Operating Margin	0.69%	1.55%	1.56%	2.24%	1.50%	-0.85%	1.49%	2.22%	2.48%	2.10%	3.36%
EBIT Margin	0.69%	1.55%	1.56%	2.04%	1.31%	-0.85%	1.17%	1.97%	2.48%	2.10%	3.27%
Profit (Net Income) Margin	0.14%	0.51%	0.50%	1.33%	0.90%	-1.82%	0.65%	1.34%	1.64%	1.01%	2.32%
Tax Burden Percent	33.53%	47.17%	38.51%	65.04%	69.04%	153.64%	55.39%	68.06%	70.47%	53.93%	70.98%
Interest Burden Percent	59.22%	69.94%	83.62%	100.00%	100.00%	139.24%	100.00%	100.00%	93.64%	89.58%	100.00%
Effective Tax Rate	66.47%	127.46%	61.49%	34.96%	-30.96%	0.00%	44.61%	31.94%	-29.53%	46.07%	29.02%
Return on Invested Capital (ROIC)	1.52%	-2.91%	3.89%	9.11%	13.58%	-4.14%	5.65%	9.62%	22.17%	7.99%	20.63%
ROIC Less NNEP Spread (ROIC-NNEP)	0.79%	6.63%	3.00%	8.19%	-0.50%	-18.93%	3.45%	8.20%	-4.17%	6.16%	24.37%
Return on Net Nonoperating Assets (RNNOA)	0.19%	1.31%	0.66%	2.18%	-0.07%	-3.10%	0.54%	1.89%	-0.47%	0.76%	-0.89%
Return on Equity (ROE)	1.71%	-1.59%	4.55%	11.29%	13.51%	-7.24%	6.19%	11.51%	21.70%	8.76%	19.75%
Cash Return on Invested Capital (CROIC)	-2.86%	9.87%	0.86%	9.93%	9.42%	9.54%	10.91%	11.11%	17.74%	13.80%	-16.96%
Operating Return on Assets (OROA)	1.46%	3.25%	3.31%	4.30%	2.79%	-1.80%	2.61%	4.10%	5.18%	4.38%	7.40%
Return on Assets (ROA)	0.29%	1.07%	1.07%	2.80%	1.93%	-3.84%	1.44%	2.79%	3.42%	2.12%	5.25%
Return on Common Equity (ROCE)	1.70%	-1.59%	4.54%	11.25%	13.45%	-7.20%	6.16%	11.47%	21.61%	8.72%	19.67%
Return on Equity Simple (ROE_SIMPLE)	5.28%	0.00%	1.75%	2.13%	2.33%	0.00%	9.24%	12.42%	14.41%	0.00%	18.13%
Net Operating Profit after Tax (NOPAT)	9.46	-19	27	66	86	-28	39	73	153	54	115
NOPAT Margin	0.23%	-0.43%	0.60%	1.45%	1.96%	-0.60%	0.83%	1.51%	3.21%	1.13%	2.39%
Net Nonoperating Expense Percent (NNEP)	0.73%	-9.54%	0.89%	0.93%	14.08%	14.79%	2.20%	1.42%	26.34%	1.83%	-3.74%
Return On Investment Capital (ROIC_SIMPLE)	0.30%	-0.61%	-	-	-	-0.85%	-	-	-	1.58%	-
Cost of Revenue to Revenue	82.93%	82.84%	82.74%	82.62%	82.66%	82.49%	82.42%	82.24%	81.84%	81.79%	81.70%
SG&A Expenses to Revenue	16.38%	15.61%	15.70%	15.15%	15.85%	17.17%	16.09%	15.54%	15.68%	15.07%	14.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	16.38%	15.61%	15.70%	15.15%	15.85%	18.36%	16.09%	15.54%	15.68%	16.11%	14.93%
Earnings before Interest and Taxes (EBIT)	28	68	71	92	58	-40	55	96	118	101	157
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	49	90	93	114	79	-15	76	117	139	122	178
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	1.27	1.60	1.56	1.71	1.67	1.45	1.58	1.57	1.58	1.29
Price to Tangible Book Value (P/TBV)	59.40	35.79	41.58	52.11	39.31	31.72	13.48	14.23	12.08	14.32	14.63
Price to Revenue (P/Rev)	0.15	0.15	0.19	0.18	0.20	0.20	0.18	0.20	0.20	0.19	0.15
Price to Earnings (P/E)	24.35	18.67	410.40	208.11	175.89	41.76	12.15	10.44	9.24	10.33	7.11
Dividend Yield	5.32%	5.34%	4.09%	4.31%	3.87%	3.87%	4.02%	3.71%	3.50%	3.56%	4.37%
Earnings Yield	4.11%	5.36%	0.24%	0.48%	0.57%	2.39%	8.23%	9.58%	10.82%	9.68%	14.07%
Enterprise Value to Invested Capital (EV/IC)	1.22	1.23	1.47	1.43	1.60	1.56	1.39	1.46	1.51	1.50	1.25
Enterprise Value to Revenue (EV/Rev)	0.19	0.18	0.23	0.22	0.22	0.22	0.20	0.23	0.22	0.21	0.17
Enterprise Value to EBITDA (EV/EBITDA)	9.54	9.19	14.28	13.86	14.00	14.06	8.09	7.77	6.55	6.58	4.74
Enterprise Value to EBIT (EV/EBIT)	12.60	12.28	20.69	20.11	20.13	20.11	9.83	9.12	7.53	7.58	5.37
Enterprise Value to NOPAT (EV/NOPAT)	24.53	18.24	375.17	188.06	145.95	37.53	12.02	11.23	9.41	10.81	7.75
Enterprise Value to Operating Cash Flow (EV/OCF)	84.54	10.20	23.41	11.10	12.08	11.89	10.56	12.00	8.85	9.97	6.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	12.23	171.42	13.74	16.25	15.89	12.76	13.29	8.45	10.91	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.51	0.45	0.47	0.51	0.45	0.45	0.40	0.41	0.39	0.40	0.37
Long-Term Debt to Equity	0.46	0.44	0.46	0.45	0.44	0.44	0.39	0.40	0.39	0.39	0.37
Financial Leverage	0.25	0.20	0.22	0.27	0.14	0.16	0.16	0.23	0.11	0.12	-0.04
Leverage Ratio	3.85	3.91	3.72	3.77	3.70	3.83	3.55	3.78	3.67	3.80	3.68
Compound Leverage Factor	2.28	2.73	3.11	3.77	3.70	5.33	3.55	3.78	3.44	3.40	3.68
Debt to Total Capital	33.74%	30.94%	31.99%	33.86%	31.04%	30.98%	28.50%	29.01%	28.27%	28.64%	27.05%
Short-Term Debt to Total Capital	3.17%	0.76%	0.77%	4.22%	0.49%	0.37%	0.40%	0.65%	0.47%	0.77%	0.40%
Long-Term Debt to Total Capital	30.58%	30.18%	31.22%	29.64%	30.54%	30.60%	28.10%	28.36%	27.80%	27.87%	26.65%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.07%	0.06%	0.05%	0.28%	0.35%	0.33%	0.31%	0.31%	0.31%	0.31%	0.32%
Common Equity to Total Capital	66.19%	69.01%	67.96%	65.86%	68.62%	68.69%	71.18%	70.68%	71.42%	71.05%	72.63%
Debt to EBITDA	3.02	2.77	3.56	3.84	3.36	3.40	2.00	1.75	1.53	1.54	1.22
Net Debt to EBITDA	1.91	1.29	2.14	2.20	1.30	1.43	0.81	1.04	0.44	0.54	0.50
Long-Term Debt to EBITDA	2.74	2.71	3.48	3.36	3.31	3.36	1.97	1.71	1.51	1.50	1.20
Debt to NOPAT	7.78	5.51	93.66	52.06	35.03	9.09	2.97	2.53	2.20	2.53	2.00
Net Debt to NOPAT	4.91	2.56	56.10	29.84	13.51	3.82	1.21	1.50	0.63	0.89	0.82
Long-Term Debt to NOPAT	7.05	5.38	91.40	45.57	34.47	8.98	2.93	2.47	2.17	2.46	1.97
Altman Z-Score	3.21	3.20	3.22	3.24	3.30	3.17	3.36	3.32	3.37	3.28	3.52
Noncontrolling Interest Sharing Ratio	0.31%	0.29%	0.27%	0.43%	0.47%	0.46%	0.44%	0.41%	0.43%	0.42%	0.41%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.12	1.12	1.15	1.14	1.17	1.16	1.21	1.21	1.24	1.21	1.22
Quick Ratio	1.08	1.08	1.11	1.11	1.12	1.13	1.17	1.17	1.20	1.18	1.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-205	66	40	334	311	123	20	12	204	51	-735
Operating Cash Flow to CapEx	-1,118.25%	2,191.15%	518.63%	-1,158.82%	983.05%	492.21%	1,296.10%	-728.04%	943.94%	680.71%	1,886.62%
Free Cash Flow to Firm to Interest Expense	-17.83	0.00	3.47	0.00	0.00	0.00	0.00	0.00	27.16	0.00	0.00
Operating Cash Flow to Interest Expense	-13.32	0.00	7.20	0.00	0.00	0.00	0.00	0.00	16.61	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-14.51	0.00	5.81	0.00	0.00	0.00	0.00	0.00	14.85	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.12	2.10	2.12	2.10	2.14	2.11	2.23	2.08	2.09	2.09	2.27
Accounts Receivable Turnover	4.07	3.91	3.93	3.80	4.02	3.80	4.10	3.72	3.81	3.75	4.16
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	142.32	143.81	146.79	152.94	158.27	156.25	170.48	169.85	173.70	173.17	182.80
Accounts Payable Turnover	5.78	5.54	5.75	5.66	5.80	5.60	6.07	5.47	5.47	5.54	6.20
Days Sales Outstanding (DSO)	89.76	93.30	92.77	96.01	90.75	96.17	89.09	98.18	95.90	97.43	87.77
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	63.15	65.94	63.44	64.49	62.92	65.16	60.12	66.68	66.76	65.91	58.89
Cash Conversion Cycle (CCC)	26.61	27.35	29.33	31.53	27.83	31.01	28.96	31.50	29.14	31.52	28.88
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,782	2,570	2,791	2,776	2,567	2,655	2,804	3,043	2,792	2,806	2,785
Invested Capital Turnover	6.56	6.83	6.46	6.27	6.93	6.93	6.83	6.38	6.90	7.07	8.64
Increase / (Decrease) in Invested Capital	215	-85	-13	-268	-224	-150	19	62	-51	3.40	849
Enterprise Value (EV)	3,382	3,154	4,104	3,968	4,102	4,140	3,892	4,449	4,223	4,221	3,479
Market Capitalization	2,703	2,709	3,488	3,330	3,711	3,708	3,491	3,844	3,930	3,862	3,099
Book Value per Share	$45.04	$45.28	$45.86	$44.80	$45.07	$45.55	$48.46	$48.37	$49.36	$48.41	$46.50
Tangible Book Value per Share	$0.97	$1.61	$1.77	$1.34	$1.95	$2.40	$5.22	$5.36	$6.43	$5.33	$4.09
Total Capital	3,177	3,080	3,202	3,244	3,172	3,237	3,375	3,451	3,498	3,445	3,313
Total Debt	1,072	953	1,025	1,099	985	1,003	962	1,001	989	987	896
Total Long-Term Debt	971	929	1,000	962	969	991	949	979	972	960	883
Net Debt	677	443	614	630	380	421	391	594	282	348	369
Capital Expenditures (CapEx)	14	11	16	12	12	23	21	21	13	20	14
Debt-free, Cash-free Net Working Capital (DFCFNWC)	217	47	272	323	157	203	351	589	388	410	458
Debt-free Net Working Capital (DFNWC)	612	557	682	792	761	785	923	997	1,095	1,049	985
Net Working Capital (NWC)	511	533	658	655	746	772	909	975	1,078	1,023	972
Net Nonoperating Expense (NNE)	3.86	-41	4.47	5.66	47	57	8.36	8.03	75	5.66	3.34
Net Nonoperating Obligations (NNO)	677	443	614	630	380	421	391	594	282	348	369
Total Depreciation and Amortization (D&A)	21	22	22	21	22	24	22	22	21	21	21
Debt-free, Cash-free Net Working Capital to Revenue	1.23%	0.26%	1.50%	1.77%	0.84%	1.07%	1.84%	3.07%	2.00%	2.07%	2.24%
Debt-free Net Working Capital to Revenue	3.49%	3.12%	3.77%	4.35%	4.10%	4.15%	4.83%	5.19%	5.63%	5.29%	4.83%
Net Working Capital to Revenue	2.91%	2.99%	3.64%	3.59%	4.02%	4.08%	4.76%	5.07%	5.55%	5.16%	4.76%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.12	$0.49	$0.48	$1.25	$0.82	($1.66)	$0.61	$1.30	$1.53	$0.99	$2.15
Adjusted Weighted Average Basic Shares Outstanding	46.80M	47.80M	47.60M	47.90M	48.30M	49.80M	49.50M	50.20M	50.90M	52.20M	51.70M
Adjusted Diluted Earnings per Share	$0.12	$0.49	$0.47	$1.24	$0.81	($1.64)	$0.60	$1.29	$1.51	$0.98	$2.13
Adjusted Weighted Average Diluted Shares Outstanding	47.30M	48.30M	48.10M	48.40M	48.90M	50.40M	50.10M	50.70M	51.60M	52.80M	52.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	46.28M	46.69M	46.94M	47.45M	47.70M	48.24M	48.81M	49.58M	50.43M	50.62M	50.56M
Normalized Net Operating Profit after Tax (NOPAT)	20	48	50	66	46	-28	39	73	83	54	115
Normalized NOPAT Margin	0.48%	1.09%	1.09%	1.45%	1.05%	-0.60%	0.83%	1.51%	1.74%	1.13%	2.39%
Pre Tax Income Margin	0.41%	1.08%	1.31%	2.04%	1.31%	-1.19%	1.17%	1.97%	2.32%	1.88%	3.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.45	0.00	6.10	0.00	0.00	0.00	0.00	0.00	15.72	0.00	0.00
NOPAT to Interest Expense	0.82	0.00	2.35	0.00	0.00	0.00	0.00	0.00	20.36	0.00	0.00
EBIT Less CapEx to Interest Expense	1.26	0.00	4.72	0.00	0.00	0.00	0.00	0.00	13.96	0.00	0.00
NOPAT Less CapEx to Interest Expense	-0.37	0.00	0.96	0.00	0.00	0.00	0.00	0.00	18.60	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	131.53%	100.62%	380.32%	317.76%	285.80%	163.18%	64.19%	47.03%	0.00%	37.72%	32.21%
Augmented Payout Ratio	235.14%	197.11%	789.76%	705.70%	679.88%	365.65%	133.92%	109.70%	66.69%	109.95%	102.11%

Frequently Asked Questions About ManpowerGroup's Financials

When does ManpowerGroup's financial year end?

According to the most recent income statement we have on file, ManpowerGroup's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has ManpowerGroup's net income changed over the last 9 years?

ManpowerGroup's net income appears to be on a downward trend, with a most recent value of $145.10 million in 2024, falling from $419.20 million in 2015. The previous period was $88.80 million in 2023. See where experts think ManpowerGroup is headed by visiting ManpowerGroup's forecast page.

What is ManpowerGroup's operating income?

ManpowerGroup's total operating income in 2024 was $306 million, based on the following breakdown:

Total Gross Profit: $3.09 billion
Total Operating Expenses: $2.78 billion

How has ManpowerGroup revenue changed over the last 9 years?

Over the last 9 years, ManpowerGroup's total revenue changed from $19.33 billion in 2015 to $17.85 billion in 2024, a change of -7.6%.

How much debt does ManpowerGroup have?

ManpowerGroup's total liabilities were at $6.07 billion at the end of 2024, a 7.9% decrease from 2023, and a 25.9% increase since 2015.

How much cash does ManpowerGroup have?

In the past 9 years, ManpowerGroup's cash and equivalents has ranged from $509.40 million in 2024 to $1.57 billion in 2020, and is currently $509.40 million as of their latest financial filing in 2024.

How has ManpowerGroup's book value per share changed over the last 9 years?

Over the last 9 years, ManpowerGroup's book value per share changed from 35.65 in 2015 to 45.28 in 2024, a change of 27.0%.

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This page (NYSE:MAN) was last updated on 5/21/2025 by MarketBeat.com Staff

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ManpowerGroup (MAN) Financials

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