HireQuest (HQI)
Market Price (9/12/2026): $15.96 | Market Cap: $220.0 MilSector: Industrials | Industry: Human Resource & Employment Services
HireQuest (HQI)
Market Price (9/12/2026): $15.96Market Cap: $220.0 MilSector: IndustrialsIndustry: Human Resource & Employment Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31% Megatrend and thematic driversMegatrends include Future of Work. Themes include Flexible Staffing Solutions, and Workforce Agility. | Weak multi-year price returns2Y Excs Rtn is -25%, 3Y Excs Rtn is -78% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.4% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 57% Key risksHQI key risks include [1] its heavy dependence on the financial performance of its franchisees and [2] challenges in executing its acquisition-based growth strategy. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 31%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31% |
| Megatrend and thematic driversMegatrends include Future of Work. Themes include Flexible Staffing Solutions, and Workforce Agility. |
| Weak multi-year price returns2Y Excs Rtn is -25%, 3Y Excs Rtn is -78% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.5%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -4.4% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 57% |
| Key risksHQI key risks include [1] its heavy dependence on the financial performance of its franchisees and [2] challenges in executing its acquisition-based growth strategy. |
Qualitative Assessment
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HireQuest (HQI) stock has gained about 25% since 5/31/2026 because of the following key factors:
1. HireQuest reported robust financial results for fiscal Q2 2026, significantly exceeding analyst expectations.
Net income more than doubled to $2.7 million, or $0.19 per diluted share, in fiscal Q2 2026, compared to $1.1 million, or $0.08 per diluted share, in fiscal Q2 2025. Adjusted net income for the quarter also increased to $3.2 million, or $0.23 per diluted share, from $2.1 million, or $0.15 per diluted share, in the prior year. The company's Adjusted EBITDA saw a substantial 39.4% increase, reaching $4.6 million in fiscal Q2 2026 compared to $3.3 million in fiscal Q2 2025. These strong results were partly driven by a significant 31.9% reduction in selling, general, and administrative (SG&A) expenses, which fell to $4.0 million from $5.9 million in fiscal Q2 2025. The company's reported EPS surpassed analyst estimates by 36%, and revenue exceeded forecasts by 14%.
2. A stabilizing job market and recovering demand for temporary staffing services drove revenue growth.
HireQuest's President and CEO, Rick Hermanns, highlighted a "stabilizing job market and recovering demand environment for temporary staffing services" during fiscal Q2 2026. The company experienced a 6.0% year-over-year increase in total revenue, reaching $8.1 million in fiscal Q2 2026. Pro forma for the MRINetwork Assets Divestiture, total revenue increased by 16.6% in the quarter. Management indicated that demand strengthened throughout fiscal Q2, with ongoing operations showing 12% to 13% growth above prior-year levels in the latter part of the quarter. This recovery was attributed to factors such as increased manufacturing activity, changes in labor supply due to immigration policies enacted in early 2025, and renewed investment in national accounts. Broader macroeconomic data supported this trend, with the American Staffing Association's May 2026 Staffing Index reporting temporary and contract staffing employment 4.6% higher than the same period in 2025, and Q2 2026 real GDP growing at a 1.5% annual rate.
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HireQuest (HQI) stock has gained about 25% since 5/31/2026 because of the following key factors:
1. HireQuest reported robust financial results for fiscal Q2 2026, significantly exceeding analyst expectations.
Net income more than doubled to $2.7 million, or $0.19 per diluted share, in fiscal Q2 2026, compared to $1.1 million, or $0.08 per diluted share, in fiscal Q2 2025. Adjusted net income for the quarter also increased to $3.2 million, or $0.23 per diluted share, from $2.1 million, or $0.15 per diluted share, in the prior year. The company's Adjusted EBITDA saw a substantial 39.4% increase, reaching $4.6 million in fiscal Q2 2026 compared to $3.3 million in fiscal Q2 2025. These strong results were partly driven by a significant 31.9% reduction in selling, general, and administrative (SG&A) expenses, which fell to $4.0 million from $5.9 million in fiscal Q2 2025. The company's reported EPS surpassed analyst estimates by 36%, and revenue exceeded forecasts by 14%.
2. A stabilizing job market and recovering demand for temporary staffing services drove revenue growth.
HireQuest's President and CEO, Rick Hermanns, highlighted a "stabilizing job market and recovering demand environment for temporary staffing services" during fiscal Q2 2026. The company experienced a 6.0% year-over-year increase in total revenue, reaching $8.1 million in fiscal Q2 2026. Pro forma for the MRINetwork Assets Divestiture, total revenue increased by 16.6% in the quarter. Management indicated that demand strengthened throughout fiscal Q2, with ongoing operations showing 12% to 13% growth above prior-year levels in the latter part of the quarter. This recovery was attributed to factors such as increased manufacturing activity, changes in labor supply due to immigration policies enacted in early 2025, and renewed investment in national accounts. Broader macroeconomic data supported this trend, with the American Staffing Association's May 2026 Staffing Index reporting temporary and contract staffing employment 4.6% higher than the same period in 2025, and Q2 2026 real GDP growing at a 1.5% annual rate.
3. Strategic divestiture of MRINetwork assets enhanced financial performance and operational efficiency.
The divestiture of certain assets and liabilities associated with the permanent placement franchisee base of HQ MRI Corporation, effective January 1, 2026, positively impacted HireQuest's financial statements by eliminating lower-margin operations and related expenses. This strategic move contributed to the substantial 16.6% pro forma increase in total revenue for fiscal Q2 2026, adjusting for the divested assets. Furthermore, the divestiture played a role in the significant reduction of SG&A expenses, which boosted overall profitability and allowed for better operating leverage.
4. Positive analyst sentiment and increased price targets bolstered investor confidence.
Analyst coverage reflected a positive outlook for HireQuest, with a consensus "Buy" rating. Following the fiscal Q2 2026 earnings report, DA Davidson maintained a "Buy" rating and increased its price target to $19.00 as of August 10, 2026, indicating a significant upside potential. Simply Wall St also estimated a fair value of $21.23 for the stock as of August 12, 2026, suggesting that the stock was undervalued at its then-current price of $16.64 and implying further room for growth. These positive analyst revisions and price targets contributed to increased investor confidence and buying interest in the stock.
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Stock Movement Drivers
Fundamental Drivers
The 23.1% change in HQI stock from 5/31/2026 to 9/11/2026 was primarily driven by a 23.1% change in the company's Net Income Margin (%).| (LTM values as of) | 5312026 | 9112026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.04 | 16.05 | 23.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 30 | 30 | 1.6% |
| Net Income Margin (%) | 22.0% | 27.1% | 23.1% |
| P/E Multiple | 27.7 | 27.1 | -2.2% |
| Shares Outstanding (Mil) | 14 | 14 | 0.6% |
| Cumulative Contribution | 23.1% |
Market Drivers
5/31/2026 to 9/11/2026| Return | Correlation | |
|---|---|---|
| HQI | 23.1% | |
| Market (SPY) | 1.0% | -20.0% |
| Sector (XLI) | -0.4% | -17.7% |
Fundamental Drivers
The 39.5% change in HQI stock from 2/28/2026 to 9/11/2026 was primarily driven by a 23.4% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9112026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.50 | 16.05 | 39.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 32 | 30 | -4.9% |
| Net Income Margin (%) | 21.9% | 27.1% | 23.4% |
| P/E Multiple | 23.1 | 27.1 | 17.3% |
| Shares Outstanding (Mil) | 14 | 14 | 1.3% |
| Cumulative Contribution | 39.5% |
Market Drivers
2/28/2026 to 9/11/2026| Return | Correlation | |
|---|---|---|
| HQI | 39.5% | |
| Market (SPY) | 11.7% | 4.3% |
| Sector (XLI) | -2.4% | 2.1% |
Fundamental Drivers
The 67.8% change in HQI stock from 8/31/2025 to 9/11/2026 was primarily driven by a 262.1% change in the company's Net Income Margin (%).| (LTM values as of) | 8312025 | 9112026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.56 | 16.05 | 67.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 33 | 30 | -7.5% |
| Net Income Margin (%) | 7.5% | 27.1% | 262.1% |
| P/E Multiple | 54.7 | 27.1 | -50.4% |
| Shares Outstanding (Mil) | 14 | 14 | 1.1% |
| Cumulative Contribution | 67.8% |
Market Drivers
8/31/2025 to 9/11/2026| Return | Correlation | |
|---|---|---|
| HQI | 67.8% | |
| Market (SPY) | 19.5% | 9.3% |
| Sector (XLI) | 14.6% | 8.3% |
Fundamental Drivers
The -10.6% change in HQI stock from 8/31/2023 to 9/11/2026 was primarily driven by a -18.9% change in the company's Net Income Margin (%).| (LTM values as of) | 8312023 | 9112026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.95 | 16.05 | -10.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 35 | 30 | -13.2% |
| Net Income Margin (%) | 33.4% | 27.1% | -18.9% |
| P/E Multiple | 21.2 | 27.1 | 27.8% |
| Shares Outstanding (Mil) | 14 | 14 | -0.5% |
| Cumulative Contribution | -10.6% |
Market Drivers
8/31/2023 to 9/11/2026| Return | Correlation | |
|---|---|---|
| HQI | -10.6% | |
| Market (SPY) | 75.7% | 23.6% |
| Sector (XLI) | 65.9% | 24.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HQI Return | 100% | -20% | -2% | -6% | -24% | 53% | 70% |
| Peers Return | 25% | -7% | 11% | -14% | -40% | 64% | 8% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| HQI Win Rate | 58% | 42% | 42% | 42% | 42% | 67% | |
| Peers Win Rate | 55% | 45% | 52% | 42% | 42% | 71% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 44% | |
Max Drawdowns [4] | |||||||
| HQI Max Drawdown | -21% | -40% | -55% | -23% | -49% | -20% | |
| Peers Max Drawdown | -24% | -37% | -27% | -34% | -50% | -32% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TBI, BBSI, MAN, KELYA, RHI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/11/2026 (YTD)
How Low Can It Go
| Event | HQI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -36.6% | -18.8% |
| % Gain to Breakeven | 57.9% | 23.1% |
| Time to Breakeven | 394 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -15.3% | -6.7% |
| % Gain to Breakeven | 18.0% | 7.1% |
| Time to Breakeven | 20 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.0% | 32.4% |
| Time to Breakeven | 211 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -14.9% | -33.7% |
| % Gain to Breakeven | 17.5% | 50.9% |
| Time to Breakeven | 4 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -36.9% | -19.2% |
| % Gain to Breakeven | 58.6% | 23.8% |
| Time to Breakeven | 115 days | 105 days |
| 2013 Taper Tantrum | ||
| % Loss | -16.6% | -0.2% |
| % Gain to Breakeven | 20.0% | 0.2% |
| Time to Breakeven | 10 days | 1 days |
In The Past
HireQuest's stock fell -36.6% during the 2025 US Tariff Shock. Such a loss loss requires a 57.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | HQI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -36.6% | -18.8% |
| % Gain to Breakeven | 57.9% | 23.1% |
| Time to Breakeven | 394 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -38.7% | -24.5% |
| % Gain to Breakeven | 63.0% | 32.4% |
| Time to Breakeven | 211 days | 427 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -36.9% | -19.2% |
| % Gain to Breakeven | 58.6% | 23.8% |
| Time to Breakeven | 115 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -44.1% | -17.9% |
| % Gain to Breakeven | 79.0% | 21.8% |
| Time to Breakeven | 170 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -86.1% | -53.4% |
| % Gain to Breakeven | 621.5% | 114.4% |
| Time to Breakeven | 3354 days | 1085 days |
In The Past
HireQuest's stock fell -36.6% during the 2025 US Tariff Shock. Such a loss loss requires a 57.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About HireQuest (HQI)
HireQuest, Inc. (HQI) is a company specializing in providing temporary staffing solutions across the United States. The company operates predominantly through a franchise model, managing a network of approximately 216 franchisee-owned offices located in 36 states and the District of Columbia as of late 2021. This decentralized structure enables HireQuest to efficiently connect businesses with temporary labor needs.
The core of HireQuest's business involves supplying a variety of temporary personnel, encompassing both skilled and semi-skilled labor. Its main services include providing industrial and manufacturing personnel, clerical and administrative staff, and construction workers. Additionally, HireQuest has a specialized focus on supplying commercial drivers, addressing a critical need in the logistics and transportation sectors.
HireQuest serves a broad and diverse range of industries and customers. Its primary markets include construction, industrial/manufacturing, warehousing, hospitality, and retail. The company also caters to specialized demands in sectors such as recycling/waste management, disaster recovery, logistics, auctioneering, and landscaping, demonstrating its versatility in meeting various temporary staffing requirements.
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HireQuest is like "H&R Block for temporary labor."
HireQuest is like "the McDonald's of temporary staffing."
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- Temporary Staffing Solutions: HireQuest provides flexible labor solutions by supplying temporary personnel across various industries to meet short-term or project-based needs.
- Industrial & Skilled Labor Staffing: This service supplies skilled and semi-skilled personnel for industrial, manufacturing, warehousing, and other operational sectors.
- Clerical & Administrative Staffing: HireQuest provides temporary office support, administrative assistants, and other clerical personnel for businesses.
- Construction Staffing: This service furnishes temporary labor specifically for construction projects, including skilled trades and general construction workers.
- Commercial Driver Staffing: HireQuest specializes in providing temporary commercial drivers to support logistics and transportation requirements for clients.
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HireQuest (HQI) sells primarily to other companies rather than individuals. The company provides temporary staffing services to businesses across a diverse range of industries.
Based on the provided information, HireQuest does not disclose specific major customer company names. Instead, it serves a broad client base within the following industries:
- Construction
- Industrial/Manufacturing
- Warehousing
- Hospitality
- Recycling/Waste Management
- Disaster Recovery
- Logistics
- Auctioneering
- Landscaping
- Retail
The company specializes in providing skilled and semi-skilled labor, industrial personnel, clerical and administrative personnel, construction personnel, and commercial drivers to businesses operating in these sectors.
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Rick Hermanns, President and Chief Executive Officer
Mr. Hermanns has served as Chairman of the Board, President, and Chief Executive Officer of HireQuest, Inc. since July 2019. He has 30 years of experience in the temporary staffing industry. Previously, he served as Chief Executive Officer and Secretary of HireQuest, LLC since its founding in 2002, and in similar capacities for predecessor entities since July 1991. Prior to founding HireQuest, Mr. Hermanns was the Chief Financial Officer of Outsource International, formerly known as Labor World USA, Inc., and an Assistant Vice President at NCNB National Bank, now Bank of America. He is also Chairman of the Board of Directors and President of Hirequest Insurance Company since its founding in 2010, and has been Chief Executive Officer of Hire Quest Financial, LLC since its founding in 2006. Together with Edward Jackson, Mr. Hermanns owns a majority stake in Bass Underwriters, Inc., a large managing general insurance agent.
David Hartley, Chief Financial Officer
Mr. Hartley was appointed Chief Financial Officer of HireQuest effective May 31, 2025. He joined HireQuest in 2020 to lead the company's acquisition team and execute its growth strategy, and was subsequently appointed Vice President of Operational Finance and Corporate Development. Mr. Hartley spent nearly a decade in investment banking, most recently as a vice president at D.A. Davidson Companies, and worked intimately on the 2019 merger between HireQuest and Command Center. He has been the main architect for more than 15 acquisitions over the past several years for HireQuest. Prior to his time as an investment banker, Mr. Hartley was a senior corporate development specialist for a medical device company and a business analyst for an insurance group.
John McAnnar, Chief Legal Officer and Vice President
Mr. McAnnar has served as Chief Legal Officer and Vice President for HireQuest, Inc., and its predecessor, HireQuest, LLC, since 2014. His work involves a range of legal affairs including securities, employment, construction, insurance and finance, workers' compensation, and intellectual property. Previously, Mr. McAnnar served in the litigation departments of Carmody MacDonald, P.C., and Armstrong Teasdale, LLP, focusing on complex commercial litigation, corporate, and employment law. He is also the co-founder of ArchCity Defenders, a non-profit organization.
Cory Smith, Chief Accounting Officer
Mr. Smith is the Chief Accounting Officer of HireQuest, Inc. He joined HireQuest in the summer of 2019, during its merger with Command Center, where he had served as Chief Financial Officer. Through 2015, Mr. Smith was the Controller at Command Center. From 2015 to 2017, he served as the Vice President of Finance for Southeast Staffing. Prior to his roles in the temporary staffing industry, Mr. Smith worked as a Certified Public Accountant, primarily performing attestation work.
Joseph Gianzanti, Chief Information Officer
Mr. Gianzanti is the Chief Information Officer of HireQuest, Inc. He also serves as Chief Information Officer for Bass Underwriters and Insurance Technologies. He is responsible for all technology initiatives for HireQuest, including strategic planning, vetting, and valuation of technologies of potential acquisitions, as well as developing and maintaining software systems and building efficiency through process improvement. Mr. Gianzanti began developing systems in 1982.
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Economic Downturn and Demand for Temporary Staffing
HireQuest's business is highly sensitive to the overall economic climate. A recession or a general slowdown in hiring directly impacts the demand for temporary workers, which is the company's core service. Periods of economic contraction can lead to reduced system-wide sales and lower revenues for HireQuest, as businesses scale back their workforce needs.
Regulatory and Compliance Risks
The temporary staffing industry is subject to a complex and evolving set of labor laws, wage and hour regulations, workplace safety standards, and employee classification rules. HireQuest and its franchisees face significant compliance risks, including potential issues with worker misclassification, payroll processing errors, and adherence to various state and federal labor laws. Failure to comply can result in legal penalties, fines, and reputational damage.
Dependence on Franchisee Performance and Compliance
As a franchisor, HireQuest's success is heavily reliant on the operational and financial performance of its numerous franchisee-owned offices. The actions or inactions of individual franchisees and their temporary employees can expose HireQuest to significant legal proceedings and reputational harm, especially concerning issues like customer service failures or non-compliance with regulations. Maintaining consistent service quality and legal adherence across a large, independent franchisee network presents an ongoing challenge.
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Emerging Threat
The clear emerging threat to HireQuest is the rapid growth and increasing adoption of digital staffing platforms and gig economy applications. These platforms directly connect businesses with temporary workers for various roles, including those in industrial, construction, warehousing, and hospitality sectors—core markets for HireQuest. They offer on-demand labor solutions, often with greater speed, flexibility, and potentially lower costs than traditional staffing agencies reliant on physical franchisee-owned offices. This shift in how companies source contingent labor poses a direct challenge to HireQuest's established business model by offering an alternative, technology-driven solution for temporary staffing needs.
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The addressable markets for HireQuest's main products and services in the United States are:
- Overall Temporary Staffing: The U.S. staffing industry's total revenue is projected to be approximately $184.6 billion in 2024, with a forecast to grow to $189.9 billion in 2025. Temporary help services typically represent about 85% of the total staffing industry revenue. Based on these figures, the estimated addressable market for temporary staffing in the U.S. is approximately $156.9 billion in 2024 and is projected to be around $161.4 billion in 2025.
- Industrial Staffing: The U.S. industrial staffing market is estimated to be approximately $38.4 billion in 2024.
- Clerical and Administrative Staffing: The U.S. office/clerical staffing market is estimated to be approximately $14.8 billion in 2024.
- Construction Personnel Staffing: Null
- Commercial Drivers Staffing: Null
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Here are the expected drivers of future revenue growth for HireQuest (HQI) over the next 2-3 years:
- Strategic Acquisitions: HireQuest plans to drive revenue growth through strategic mergers and acquisitions (M&A), actively exploring accretive opportunities. The company notes that smaller firms or long-term owners looking to exit present potential acquisition targets, and HireQuest is well-positioned with financial flexibility and a proven strategy to integrate these opportunities.
- Expansion of Geographic Footprint and National Account Presence: The company is focused on growing its franchisee network and expanding its geographic reach. This includes leveraging opportunities to enhance its national account presence and increasing exposure to new and existing customers through divisions like MRINetwork and other professional staffing brands.
- Increased Demand for Skilled and Flexible Staffing in Key Sectors: HireQuest anticipates a stabilized labor market in 2026 with renewed demand for skilled work and flexible contract roles. Sectors such as manufacturing, construction, industrial, and healthcare are expected to experience significant growth due to factors like reshoring, infrastructure investment, and persistent skilled talent gaps.
- Operational Efficiencies and Strength of the Franchise Model: The company's franchise model is a key asset, supporting profitability even during challenging market conditions. HireQuest's focus on cost reduction, including significant improvements in workers' compensation expenses, contributes to strong operational margins and positions the company to capture additional market share through the incentivized franchisee model.
- Benefiting from Enhanced Immigration Enforcement: As an E-Verify employer, HireQuest views enhanced enforcement efforts around hiring documented workers as a positive development. This is expected to create a more level playing field in the competitive staffing industry, potentially increasing demand for HireQuest's services.
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Share Repurchases
- HireQuest's Board of Directors approved a $20 million share repurchase program on December 17, 2025.
- The share repurchase program is authorized to repurchase up to $20 million of outstanding common stock and is set to expire twelve months from its start date.
Share Issuance
- On March 2, 2026, President and CEO Richard Hermanns received a stock award of 25,000 shares of common stock as part of his executive employment agreement.
- Richard Hermanns, President and CEO, purchased 9,704 shares of the company on December 30, 2025.
Outbound Investments
- HireQuest completed a merger/acquisition with TEC Staffing Services on December 4, 2023.
- The company acquired certain assets of Snelling Staffing for a purchase price of $17.3 million on March 1, 2021.
- On December 1, 2025, HireQuest changed the ownership structure of MRINetwork, transitioning majority ownership to a leadership group while retaining partial ownership.
Capital Expenditures
- Capital expenditures for the third quarter of 2025 were $12,000.
- Annual capital expenditures for fiscal year 2024 amounted to $68,000.
- For the trailing 12 months as of Q3 2025, capital expenditures were -$111,000.
Peer Outperformance in Human Resource & Employment Services
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 9.9% | 111.0% | 196.6% | CDNL 2642% · FIX 2307% · STRL 2239% |
| Marine Transportation | 5 | 76.7% | 63.8% | 171.2% | HOS 46637% · MATX 183% · KEX 171% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 6.8% | 60.7% | 120.8% | CAT 335% · ALSN 280% · WAB 226% |
| Aerospace & Defense | 54 | -2.7% | 66.4% | 73.5% | ATI 1048% · FTAI 923% · HWM 646% |
| Passenger Ground Transportation | 3 | -22.5% | 34.2% | 47.9% | UBER 80% · CAR 48% · LYFT -69% |
| Rail Transportation | 7 | 33.3% | 66.9% | 43.9% | FSTR 141% · CSX 69% · UNP 53% |
| Trading Companies & Distributors | 19 | 2.2% | 34.3% | 38.5% | DXPE 578% · AIT 293% · WCC 227% |
| Industrial Machinery & Supplies & Components | 71 | 5.7% | 42.6% | 38.3% | CRS 1385% · PSIX 994% · EROC 630% |
| Cargo Ground Transportation | 16 | 33.6% | 5.1% | 32.7% | XPO 256% · R 252% · CVLG 234% |
| Diversified Support Services | 32 | 11.2% | 32.1% | 32.1% | LIME 3588% · TH 399% · WLFC 371% |
| Electrical Components & Equipment | 41 | 13.4% | 55.3% | 16.0% | POWL 2271% · BE 1306% · VRT 953% |
| Building Products | 33 | -14.2% | 2.8% | 14.2% | LMB 611% · GFF 401% · PPIH 318% |
| Environmental & Facilities Services | 29 | -10.9% | 25.8% | -5.5% | CECO 1039% · ADUR 384% · NVRI 368% |
| Agricultural & Farm Machinery | 17 | 12.1% | -2.1% | -6.3% | BLBD 221% · DE 99% · GENC 57% |
| Industrial Conglomerates | 17 | 5.4% | 10.4% | -6.9% | RCMT 564% · CSW 137% · CSL 78% |
| Research & Consulting Services | 13 | -12.4% | -23.9% | -11.3% | HURN 205% · CRAI 90% · GRNQ 70% |
| Data Processing & Outsourced Services | 6 | -34.1% | -14.9% | -24.9% | EXLS 45% · BR 8% · G -24% |
| Passenger Airlines | 11 | 0.4% | -2.6% | -26.6% | LTM 3300% · UAL 148% · SKYW 122% |
| Office Services & Supplies | 9 | 7.3% | 24.2% | -33.1% | PBI 197% · TILE 144% · HNI 55% |
| Security & Alarm Services | 10 | -33.2% | 8.7% | -38.8% | CIX 143% · MG 116% · NL 71% |
| Human Resource & Employment Services ← | 22 | 3.5% | -22.0% | -38.9% | BBSI 84% · ADP 49% · PAYX 23% |
| Air Freight & Logistics | 12 | -11.1% | -23.3% | -39.1% | CHRW 95% · FDX 67% · EXPD 62% |
| Airport Services | 3 | -71.0% | -80.8% | -58.3% | JOBY -31% · ASLE -58% · UP -100% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| HireQuest Earnings Notes | 12/16/2025 | |
| With HireQuest Stock Sliding, Have You Assessed The Risk? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.70 |
| Mkt Cap | 0.7 |
| Rev LTM | 2,877 |
| Op Inc LTM | 11 |
| FCF LTM | 18 |
| FCF 3Y Avg | 39 |
| CFO LTM | 32 |
| CFO 3Y Avg | 53 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.3% |
| Rev Chg 3Y Avg | -5.1% |
| Rev Chg Q | 4.9% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | -1.6% |
| Op Inc Chg 3Y Avg | -14.6% |
| Op Mgn LTM | 0.9% |
| Op Mgn 3Y Avg | 2.1% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 1.8% |
| CFO/Rev 3Y Avg | 2.1% |
| FCF/Rev LTM | 0.9% |
| FCF/Rev 3Y Avg | 1.3% |
Price Behavior
| Market Price | $16.05 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 02/23/2007 | |
| Distance from 52W High | -9.0% | |
| 50 Days | 200 Days | |
| DMA Price | $14.54 | $11.79 |
| DMA Trend | up | up |
| Distance from DMA | 10.4% | 36.2% |
| 3M | 1YR | |
| Volatility | 77.1% | 61.1% |
| Downside Capture | -148.92 | 32.24 |
| Upside Capture | -55.36 | 80.57 |
| Correlation (SPY) | -14.4% | 9.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.13 | -0.53 | -1.30 | 0.17 | 0.43 | 0.81 |
| Up Beta | 0.86 | -0.76 | -0.41 | 0.74 | 0.71 | 0.76 |
| Down Beta | -2.49 | 0.91 | -1.56 | -0.36 | -0.05 | 0.81 |
| Up Capture | 2% | 2% | -77% | 44% | 71% | 42% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 20 | 29 | 62 | 119 | 352 |
| Down Capture | -627% | -190% | -271% | -27% | 32% | 99% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 22 | 35 | 64 | 130 | 389 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HQI | |
|---|---|---|---|---|
| HQI | 73.9% | 61.7% | 1.12 | - |
| Sector ETF (XLI) | 15.1% | 17.2% | 0.65 | 8.3% |
| Equity (SPY) | 18.3% | 12.8% | 1.03 | 9.5% |
| Gold (GLD) | 19.0% | 29.2% | 0.59 | 4.3% |
| Commodities (DBC) | 50.4% | 20.6% | 1.88 | -14.1% |
| Real Estate (VNQ) | 7.6% | 13.6% | 0.29 | 15.9% |
| Bitcoin (BTCUSD) | -32.6% | 43.8% | -0.78 | 5.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HQI | |
|---|---|---|---|---|
| HQI | -2.8% | 53.7% | 0.14 | - |
| Sector ETF (XLI) | 12.0% | 17.6% | 0.52 | 24.1% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 24.2% |
| Gold (GLD) | 18.7% | 18.8% | 0.81 | 0.8% |
| Commodities (DBC) | 11.7% | 19.5% | 0.47 | -0.1% |
| Real Estate (VNQ) | 0.7% | 18.9% | -0.07 | 23.9% |
| Bitcoin (BTCUSD) | 9.3% | 52.6% | 0.36 | 11.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HQI | |
|---|---|---|---|---|
| HQI | 12.6% | 56.5% | 0.48 | - |
| Sector ETF (XLI) | 13.3% | 20.1% | 0.58 | 14.8% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 16.3% |
| Gold (GLD) | 12.3% | 16.3% | 0.62 | 0.9% |
| Commodities (DBC) | 8.9% | 18.1% | 0.40 | 2.0% |
| Real Estate (VNQ) | 4.7% | 20.7% | 0.19 | 14.4% |
| Bitcoin (BTCUSD) | 63.2% | 66.2% | 1.03 | 7.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/11/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | 26.7% | 19.0% | 17.9% |
| 5/12/2026 | 9.5% | 6.2% | 25.1% |
| 11/6/2025 | 15.5% | 13.4% | -1.0% |
| 8/7/2025 | -1.0% | -5.4% | 2.3% |
| 5/8/2025 | -2.6% | -2.1% | -0.1% |
| 11/7/2024 | 2.5% | 3.5% | 6.1% |
| 8/8/2024 | 10.5% | 12.0% | 14.3% |
| 5/9/2024 | -7.9% | -1.6% | -2.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 11 | 14 |
| # Negative | 11 | 10 | 7 |
| Median Positive | 10.0% | 12.0% | 11.5% |
| Median Negative | -4.0% | -4.8% | -2.4% |
| Max Positive | 26.7% | 19.0% | 25.1% |
| Max Negative | -24.6% | -24.9% | -30.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/10/2026 | 26.7% | 19.0% | 17.9% |
| 5/12/2026 | 9.5% | 6.2% | 25.1% |
| 11/6/2025 | 15.5% | 13.4% | -1.0% |
| 8/7/2025 | -1.0% | -5.4% | 2.3% |
| 5/8/2025 | -2.6% | -2.1% | -0.1% |
| 11/7/2024 | 2.5% | 3.5% | 6.1% |
| 8/8/2024 | 10.5% | 12.0% | 14.3% |
| 5/9/2024 | -7.9% | -1.6% | -2.5% |
| 3/21/2024 | -1.2% | 3.5% | -2.5% |
| 11/8/2023 | -18.1% | -11.4% | 2.0% |
| 8/10/2023 | -24.6% | -24.9% | -30.0% |
| 5/11/2023 | -0.4% | 12.0% | 21.5% |
| 3/16/2023 | -4.0% | -8.7% | -2.4% |
| 11/3/2022 | -4.8% | -4.1% | 12.4% |
| 8/9/2022 | 11.1% | 8.3% | 10.6% |
| 5/10/2022 | -5.5% | -7.4% | 0.2% |
| 3/15/2022 | 3.9% | 13.8% | 13.5% |
| 11/12/2021 | 18.4% | 16.0% | 2.1% |
| 8/9/2021 | 1.2% | -3.6% | -1.8% |
| 5/17/2021 | -1.9% | -3.8% | 12.6% |
| 11/12/2020 | 4.3% | 7.0% | 9.7% |
| SUMMARY STATS | |||
| # Positive | 10 | 11 | 14 |
| # Negative | 11 | 10 | 7 |
| Median Positive | 10.0% | 12.0% | 11.5% |
| Median Negative | -4.0% | -4.8% | -2.4% |
| Max Positive | 26.7% | 19.0% | 25.1% |
| Max Negative | -24.6% | -24.9% | -30.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/27/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/21/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/21/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/11/2026 | 10-Q |
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/27/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/21/2024 | 10-K |
| 09/30/2023 | 11/08/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/21/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/15/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/09/2021 | 10-Q |
| 03/31/2021 | 05/17/2021 | 10-Q |
| 12/31/2020 | 03/25/2021 | 10-K |
| 09/30/2020 | 11/12/2020 | 10-Q |
| 06/30/2020 | 08/11/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/30/2020 | 10-K |
| 09/30/2019 | 11/13/2019 | 10-Q |
Recent Forward Guidance
Updated 8/11/2026Latest: Q2 2026 Earnings Reported 8/10/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Dividends | Reported | 0.06 | 0 | Same New | Actual: 0.06 for 2026 | |||
Prior: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Dividends | Reported | 0.06 | 0.0% | Affirmed | Guidance: 0.06 for Q4 2025 | |||
Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Dividends | Reported | 0.06 | 0 | Same New | Guidance: 0.06 for Q3 2025 | |||
Insider Activity
Updated 6/29/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hermanns, Richard | President and CEO | Direct | Buy | 6052026 | 12.19 | 1,128 | 13,747 | 36,286,899 | Form |
| 2 | Hermanns, Richard | President and CEO | Direct | Buy | 1022026 | 10.28 | 9,704 | 99,757 | 30,339,189 | Form |
| 3 | Hermanns, Richard | President and CEO | Direct | Buy | 12292025 | 10.12 | 422 | 4,271 | 29,768,779 | Form |
| 4 | Hermanns, Richard | President and CEO | Direct | Buy | 12292025 | 9.13 | 18,854 | 172,105 | 26,847,763 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Hermanns, Richard | President and CEO | Direct | Buy | 6052026 | 12.19 | 1,128 | 13,747 | 36,286,899 | Form |
| 2 | Hermanns, Richard | President and CEO | Direct | Buy | 1022026 | 10.28 | 9,704 | 99,757 | 30,339,189 | Form |
| 3 | Hermanns, Richard | President and CEO | Direct | Buy | 12292025 | 10.12 | 422 | 4,271 | 29,768,779 | Form |
| 4 | Hermanns, Richard | President and CEO | Direct | Buy | 12292025 | 9.13 | 18,854 | 172,105 | 26,847,763 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Human Resource & Employment Services Resources |
| HR Magazine (SHRM) |
| HR Dive |
| Personnel Today |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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