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Financials · MAN

ManpowerGroup (MAN) financials

For the twelve months ended Sep 30, 2026, ManpowerGroup reported $18.92B of revenue and $120.30M of net income.

Revenue, TTM
$18.92B
Revenue growth, YoY
+7.3%
Net income, TTM
$120.30M
Net margin
0.6%
Free cash flow, TTM
$7.40M
EPS, diluted, TTM
$2.54
Cash
$233.10M
Total debt
$1.10B
P/E
17.20
P/S
0.11
Market cap
$2.07B
Annual revenue$17.96B
FY2016FY2025
Annual net income-$13.30M
FY2016FY2025
Annual free cash flow-$161.40M
FY2016FY2025

MAN revenue and earnings growth

MAN revenueQ3 2026$4.84B

Quarter YoY
+4.4%
QoQ
-0.4%
FY YoY
+0.6%
5Y CAGR
-0.0%

MAN revenue was $4.84B in fiscal Q3 2026 (ended Sep 30, 2026), up 4.4% from a year earlier and down 0.4% from the prior quarter. For the full fiscal 2025 it was $17.96B, up 0.6% from fiscal 2024. Compound annual growth was -0.0% over 5 years. It rose in 4 of the last 9 fiscal years.

MAN net incomeQ3 2026$34.10M

Quarter YoY
+89.4%
QoQ
-36.3%

MAN net income was $34.10M in fiscal Q3 2026 (ended Sep 30, 2026), up 89.4% from a year earlier and down 36.3% from the prior quarter. For the full fiscal 2025 it was -$13.30M, compared with $145.10M in fiscal 2024.

MAN EPSQ3 2026$0.71

Quarter YoY
+86.8%
QoQ
-37.2%

MAN diluted EPS was $0.71 in fiscal Q3 2026 (ended Sep 30, 2026), up 86.8% from a year earlier and down 37.2% from the prior quarter. For the full fiscal 2025 it was -$0.29, compared with $3.01 in fiscal 2024.

MAN free cash flowQ3 2026-$16.80M

MAN free cash flow was -$16.80M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $44.70M a year earlier. For the full fiscal 2025 it was -$161.40M, compared with $258.10M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$17.96B$17.85B$18.91B$19.83B$20.72B$18.00B$20.86B$21.99B$21.03B$19.65B
Cost of revenue$14.96B$14.77B$15.56B$16.26B$17.32B$15.18B$17.49B$18.41B$17.55B$16.32B
Gross profit$3.00B$3.09B$3.36B$3.57B$3.41B$2.82B$3.38B$3.58B$3.48B$3.33B
Selling, general and admin$2.85B$2.78B$3.10B$2.99B$2.82B$2.64B$2.73B$2.78B$2.70B$2.59B
Operating income$150.10M$306.00M$255.80M$581.70M$585.40M$187.60M$644.90M$796.70M$789.20M$745.50M
Interest expense-$95.40M-$90.00M-$79.70M-$46.90M$38.80M$43.30M$44.40M$47.00M$49.40M$49.50M
Pre-tax income$93.40M$256.80M$205.90M$557.10M$568.10M$147.70M$685.50M$754.70M$737.30M$701.30M
Income tax$106.70M$111.70M$117.10M$183.30M$185.70M$123.90M$219.80M$198.00M$191.90M$257.60M
Net income-$13.30M$145.10M$88.80M$373.80M$382.40M$23.80M$465.70M$556.70M$545.40M$443.70M
EPS, basic-$0.29$3.04$1.78$7.17$7.01$0.41$7.78$8.62$8.13$6.33
EPS, diluted-$0.29$3.01$1.76$7.08$6.91$0.41$7.72$8.56$8.04$6.27
Diluted shares46.6M48.3M50.4M52.8M55.4M58.3M60.3M65.1M67.9M70.8M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$871.00M$509.40M$581.30M$639.00M$847.80M$1.57B$1.03B$591.90M$689.00M$598.50M
Receivables$4.77B$4.30B$4.83B$5.14B$5.45B$4.91B$5.27B$5.28B$5.37B$4.41B
Current assets$5.79B$4.97B$5.57B$5.93B$6.42B$6.67B$6.48B$6.00B$6.17B$5.13B
Goodwill$1.54B$1.56B$1.59B$1.63B$1.72B$1.23B$1.26B$1.30B$1.34B$1.24B
Total assets$9.16B$8.20B$8.83B$9.13B$9.83B$9.33B$9.22B$8.52B$8.88B$7.57B
Current liabilities$5.23B$4.44B$4.80B$4.91B$5.78B$4.68B$4.44B$4.18B$4.81B$3.66B
Short-term debt$625.00M$23.40M$12.10M$26.60M$552.60M$20.40M$61.00M$50.10M$469.40M$39.80M
Long-term debt$1.05B$929.40M$990.50M$959.90M$565.70M$1.10B$1.01B$1.03B$478.10M$785.60M
Total debt$1.68B$952.80M$1.00B$986.50M$1.12B$1.12B$1.07B$1.08B$947.50M$825.40M
Total liabilities$7.10B$6.07B$6.60B$6.67B$7.30B$6.87B$6.46B$5.82B$6.03B$5.13B
Shareholders' equity$2.06B$2.13B$2.23B$2.46B$2.53B$2.45B$2.76B$2.70B$2.86B$2.45B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$104.10M$309.20M$348.20M$423.30M$644.80M$936.40M$814.40M$483.10M$400.90M$600.00M
Capital expenditures$57.30M$51.10M$78.20M$75.60M$64.20M$50.70M$52.90M$64.70M$54.70M$56.90M
Free cash flow-$161.40M$258.10M$270.00M$347.70M$580.60M$885.70M$761.50M$418.40M$346.20M$543.10M
Investing cash flow-$59.20M-$68.20M-$74.10M-$85.30M-$987.00M-$42.40M-$16.20M-$54.90M-$74.50M-$110.40M
Financing cash flow$485.50M-$282.40M-$349.50M-$482.10M-$283.70M-$435.20M-$337.40M-$484.90M-$319.30M-$597.60M
Dividends paid$66.70M$145.80M$144.30M$139.90M$136.60M$129.10M$129.30M$127.30M$123.70M$118.40M
Share repurchases$38.20M$140.00M$179.80M$270.00M$210.00M$264.70M$203.00M$500.70M$203.90M$482.20M
Stock-based compensation$26.30M$27.30M$28.70M$37.60M$36.80M$24.20M$26.30M$27.80M$28.70M$27.10M
Depreciation and amortization$86.00M$86.60M$88.60M$84.60M$73.40M$76.30M$77.20M$85.80M$84.40M$85.30M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY0.6%-5.6%-4.6%-4.3%15.1%-13.7%-5.1%4.5%7.0%-
Net income growth, YoY-63.4%-76.2%-2.2%1506.7%-94.9%-16.3%2.1%22.9%5.8%
EPS growth, YoY-71.0%-75.1%2.5%1585.4%-94.7%-9.8%6.5%28.2%16.1%
Gross margin16.7%17.3%17.8%18.0%16.4%15.7%16.2%16.3%16.6%17.0%
Operating margin0.8%1.7%1.4%2.9%2.8%1.0%3.1%3.6%3.8%3.8%
Net margin-0.1%0.8%0.5%1.9%1.8%0.1%2.2%2.5%2.6%2.3%
Free cash flow margin-0.9%1.4%1.4%1.8%2.8%4.9%3.6%1.9%1.6%2.8%
Return on equity-0.6%6.8%4.0%15.2%15.1%1.0%16.9%20.6%19.1%18.1%
Return on assets-0.1%1.8%1.0%4.1%3.9%0.3%5.0%6.5%6.1%5.9%
Current ratio1.111.121.161.211.111.421.461.441.281.40
Debt to equity0.810.450.450.400.440.460.390.400.330.34

Source: XBRL data ManpowerGroup files with the SEC, latest filing dated Oct 30, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MAN peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MAN$18.92B+7.3%$120.30M0.6%$2.07B
GIBC$15.91B+8.4%C$1.66B10.4%$19.31B
BAH$10.98B-6.2%$784.00M7.1%$10.12B
G$5.25B+6.5%$582.65M11.1%$7.07B
FCN$3.98B+7.8%$233.42M5.9%$5.33B
RHI$5.30B-2.9%$121.73M2.3%$4.28B
EXPO$632.46M+12.8%$111.77M17.7%$3.99B
HURN$1.86B+12.3%$113.54M6.1%$2.63B
NSP$6.90B+2.1%$3.00M0.0%$1.90B

MAN FAQ

9 questions
  • What is MAN revenue?
    ManpowerGroup (MAN) reported $18.92B of revenue for the twelve months ended Sep 30, 2026. That is up 7.3% from the year before. Revenue for fiscal 2025 was $17.96B.
  • Is MAN profitable?
    Yes. ManpowerGroup earned $120.30M in net income for the twelve months ended Sep 30, 2026, a net margin of 0.6%.
  • How much cash and debt does MAN have?
    ManpowerGroup reported $233.10M in cash and cash equivalents and $1.10B of debt on its most recent balance sheet in SEC filings.
  • How fast is MAN revenue growing?
    ManpowerGroup's revenue changed +0.6% in fiscal 2025, to $17.96B. Its compound annual growth rate was -0.0% over 5 years.
  • What is MAN gross margin?
    ManpowerGroup's gross profit was $3.04B on $18.92B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 16.1%.
  • What is MAN free cash flow?
    ManpowerGroup generated $7.40M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $41.90M less capital expenditures.
  • What is MAN earnings per share?
    Diluted earnings per share were $2.54 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MAN last report financial results?
    The latest statements here come from ManpowerGroup's 10-Q filed on Oct 30, 2026, covering the period ended Sep 30, 2026.
  • Where does this MAN financial data come from?
    Quantisnow builds these statements from the structured XBRL data ManpowerGroup files with the SEC. It is provided for information only and is not investment advice.