Tearsheet

Kelly Services (KELYA)


Market Price (4/25/2026): $9.63 | Market Cap: $335.1 Mil
Sector: Industrials | Industry: Human Resource & Employment Services

Kelly Services (KELYA)


Market Price (4/25/2026): $9.63
Market Cap: $335.1 Mil
Sector: Industrials
Industry: Human Resource & Employment Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25%

Attractive yield
Dividend Yield is 3.3%, FCF Yield is 34%

Low stock price volatility
Vol 12M is 41%

Megatrend and thematic drivers
Megatrends include Future of Work. Themes include Flexible Workforce Solutions, Talent Transformation & Reskilling, and Workforce Automation Impact.

Weak multi-year price returns
2Y Excs Rtn is -102%, 3Y Excs Rtn is -111%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.0%, Rev Chg QQuarterly Revenue Change % is -12%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -77%

Key risks
KELYA key risks include [1] its traditional staffing model being bypassed as clients increasingly leverage in-house generative AI and automation, Show more.

0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25%
1 Attractive yield
Dividend Yield is 3.3%, FCF Yield is 34%
2 Low stock price volatility
Vol 12M is 41%
3 Megatrend and thematic drivers
Megatrends include Future of Work. Themes include Flexible Workforce Solutions, Talent Transformation & Reskilling, and Workforce Automation Impact.
4 Weak multi-year price returns
2Y Excs Rtn is -102%, 3Y Excs Rtn is -111%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -1.9%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.0%, Rev Chg QQuarterly Revenue Change % is -12%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -77%
7 Key risks
KELYA key risks include [1] its traditional staffing model being bypassed as clients increasingly leverage in-house generative AI and automation, Show more.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

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Kelly Services (KELYA) stock has gained about 10% since 12/31/2025 because of the following key factors:

1. Acquisition of Controlling Interest and Governance Restructuring.

In January 2026, Hunt Equity Opportunities acquired a 92.2% controlling stake in Kelly Services' Class B shares by purchasing 3,039,940 shares for $106 million, at approximately $34.87 per share. This significant change in ownership, which involved a substantial premium over the market price for Class B shares, led to a major board reconstitution and positions Kelly Services as a Nasdaq "controlled company," signaling a new strategic direction and potentially enhanced stability.

2. Shareholder Return Initiatives and Positive Analyst Sentiment.

Kelly Services demonstrated a commitment to shareholder value by achieving a sixfold increase in free cash flow, reaching $114 million, and repurchasing $10 million of Class A shares during the fourth quarter of 2025. The company also maintained its quarterly dividend, declaring $0.075 per share. This focus on returns, combined with an average analyst price target of $15.00, representing over 65% upside, contributed to positive investor outlook despite a Q4 2025 EPS miss.

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Stock Movement Drivers

Fundamental Drivers

The 10.1% change in KELYA stock from 12/31/2025 to 4/24/2026 was primarily driven by a 12.2% change in the company's P/S Multiple.
(LTM values as of)123120254242026Change
Stock Price ($)8.739.6110.1%
Change Contribution By: 
Total Revenues ($ Mil)4,3934,251-3.2%
P/S Multiple0.10.112.2%
Shares Outstanding (Mil)35351.4%
Cumulative Contribution10.1%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 4/24/2026
ReturnCorrelation
KELYA10.1% 
Market (SPY)4.2%29.5%
Sector (XLI)11.2%17.8%

Fundamental Drivers

The -25.5% change in KELYA stock from 9/30/2025 to 4/24/2026 was primarily driven by a -22.1% change in the company's P/S Multiple.
(LTM values as of)93020254242026Change
Stock Price ($)12.909.61-25.5%
Change Contribution By: 
Total Revenues ($ Mil)4,4964,251-5.4%
P/S Multiple0.10.1-22.1%
Shares Outstanding (Mil)35351.1%
Cumulative Contribution-25.5%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 4/24/2026
ReturnCorrelation
KELYA-25.5% 
Market (SPY)7.0%19.9%
Sector (XLI)12.2%15.9%

Fundamental Drivers

The -24.9% change in KELYA stock from 3/31/2025 to 4/24/2026 was primarily driven by a -25.0% change in the company's P/S Multiple.
(LTM values as of)33120254242026Change
Stock Price ($)12.809.61-24.9%
Change Contribution By: 
Total Revenues ($ Mil)4,3324,251-1.9%
P/S Multiple0.10.1-25.0%
Shares Outstanding (Mil)36352.0%
Cumulative Contribution-24.9%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2025 to 4/24/2026
ReturnCorrelation
KELYA-24.9% 
Market (SPY)28.1%33.6%
Sector (XLI)33.0%33.3%

Fundamental Drivers

The -38.4% change in KELYA stock from 3/31/2023 to 4/24/2026 was primarily driven by a -33.8% change in the company's P/S Multiple.
(LTM values as of)33120234242026Change
Stock Price ($)15.619.61-38.4%
Change Contribution By: 
Total Revenues ($ Mil)4,9654,251-14.4%
P/S Multiple0.10.1-33.8%
Shares Outstanding (Mil)38358.6%
Cumulative Contribution-38.4%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2023 to 4/24/2026
ReturnCorrelation
KELYA-38.4% 
Market (SPY)79.8%28.7%
Sector (XLI)77.8%34.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
KELYA Return-18%2%30%-35%-35%8%-50%
Peers Return53%-28%7%-17%-39%-11%-46%
S&P 500 Return27%-19%24%23%16%4%89%

Monthly Win Rates [3]
KELYA Win Rate33%58%58%33%42%50% 
Peers Win Rate68%37%48%40%45%55% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
KELYA Max Drawdown-21%-18%-8%-40%-41%-4% 
Peers Max Drawdown-3%-36%-21%-27%-47%-25% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MAN, RHI, ASGN, KFY, TBI.
[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 4/24/2026 (YTD)

How Low Can It Go

Unique KeyEventKELYAS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-48.7%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven95.1%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-53.7%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven116.1%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven256 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-38.5%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven62.7%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-81.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven443.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1,480 days

Compare to MAN, RHI, ASGN, KFY, TBI

In The Past

Kelly Services's stock fell -48.7% during the 2022 Inflation Shock from a high on 5/6/2021. A -48.7% loss requires a 95.1% gain to breakeven.

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About Kelly Services (KELYA)

Kelly Services, Inc., together with its subsidiaries, provides workforce solutions to various industries. The company operates through five segments: Professional & Industrial; Science, Engineering & Technology; Education; Outsourcing & Consulting; and International. The Professional & Industrial segment delivers staffing, outcome-based, and direct-hire services in the areas of office, professional, light industrial, and contact center specialties. The Science, Engineering & Technology segment offers staffing, outcome-based, and direct-hire services in the areas of science and clinical research, engineering, information technology, and telecommunications specialties. The Education segment provides staffing and executive search services to early childhood, and higher education markets. The Outsourcing & Consulting segment offers recruitment process outsourcing (RPO), payroll process outsourcing, and talent advisory services, as well as managed services. The International segment provides staffing, RPO, and direct-hire services in Europe and Mexico. The company serves customers in the United States, Canada, Mexico, Puerto Rico, France, Switzerland, Portugal, Russia, the United Kingdom, Italy, Germany, Ireland, rest of Europe, and the Asia-Pacific region. Kelly Services, Inc. was founded in 1946 and is headquartered in Troy, Michigan.

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ADP for talent acquisition and management.

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  • Staffing Services: Provides temporary, contract, or project-based workers across diverse sectors like office, industrial, science, engineering, IT, and education.
  • Direct-Hire & Executive Search Services: Recruits and places candidates for permanent roles, including senior-level positions in various industries.
  • Recruitment Process Outsourcing (RPO): Manages all or part of a client's recruitment lifecycle from sourcing to onboarding.
  • Payroll Process Outsourcing: Handles the comprehensive administration of client company payrolls.
  • Talent Advisory Services: Offers strategic consulting and guidance on workforce planning, talent acquisition, and human capital management.
  • Managed Services & Outcome-Based Solutions: Provides comprehensive management of specific business functions or projects, focusing on delivering defined business outcomes.

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Kelly Services, Inc. (KELYA) primarily provides workforce solutions and services to other companies and organizations across a wide range of industries and sectors. These services include staffing, direct-hire, outcome-based services, recruitment process outsourcing (RPO), payroll process outsourcing, talent advisory services, and managed services.

Due to the nature of its business as a diversified staffing and workforce solutions provider, Kelly Services serves a vast and varied client base. Publicly traded staffing and human capital companies typically do not disclose the names of their individual major customers in their financial reports or other public statements. This is often due to competitive reasons and the fact that their revenue is usually spread across a large number of clients, with no single customer accounting for a significant percentage that would require disclosure.

Therefore, specific names of major customer companies and their public symbols cannot be provided.

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Chris Layden, President and Chief Executive Officer

Chris Layden was appointed President and Chief Executive Officer of Kelly Services in September 2025. He brings over two decades of industry experience, with a track record of transforming enterprises and accelerating profitable growth. Prior to joining Kelly, Layden served as Chief Operating Officer at Prolink, a staffing firm, where he drove rapid organic growth and enhanced competitive positioning. He also spent nearly 20 years at ManpowerGroup, a global workforce solutions company, in various senior roles, leading enterprise-wide initiatives and contributing to growth in the life sciences, engineering, and technology sectors.

Troy Anderson, Executive Vice President and Chief Financial Officer

Troy Anderson was named Executive Vice President and Chief Financial Officer of Kelly Services, effective October 14, 2024. He is a senior financial expert with extensive experience driving transformational change at public companies within the technology, business services, and workforce solutions industries. Anderson possesses significant corporate governance expertise and a long history of involvement in mergers, acquisitions, and strategic transformations that have substantially enhanced shareholder value. Before joining Kelly, he served as Executive Vice President and CFO at Universal Technical Institute (UTI), where he was instrumental in executing a growth, diversification, and optimization strategy that resulted in more than doubling revenue and significantly increasing profitability and market capitalization. His experience also includes leading debt and equity capital raises totaling billions of dollars. Earlier in his career, he held senior finance leadership roles at Conduent and Xerox, where he guided major business and finance transformations.

Amy Bouque, Chief People Officer

Amy Bouque serves as the Chief People Officer for Kelly Services, leading human resources practices for the company's more than 5,300 internal full-time employees globally. She is dedicated to empowering people to thrive in their professional and personal lives. Bouque joined Kelly from Ally Financial Inc., a digital financial services company, where she spent 12 years shaping their human capital strategy and most recently held the position of Executive Director of Talent Management. She is also a founding member and former board president of Impact100 Metro Detroit, a women's collective giving organization that provides high-impact grants to local nonprofits.

Joel Leege, President, Kelly® Science, Engineering, Technology & Telecom

Joel Leege is the President of Kelly® Science, Engineering, Technology & Telecom, an operating segment focused on delivering staffing and consulting services to organizations in North America. In this role, he is responsible for accelerating the profitable growth of Kelly's specialty workforce solutions across life sciences, engineering, technology, telecom, and government verticals. Leege is an accomplished executive with nearly three decades of experience in staffing, talent solutions, and managed services. Prior to Kelly, he was President and Chief Operating Officer of Red Oak Technologies, an IT talent solutions firm, and spent seven years at Randstad Digital, serving as Executive Vice President of Growth, Strategy & Development and later as Chief Strategy Officer.

Vanessa Williams, Executive Vice President, General Counsel & Corporate Secretary

Vanessa Williams holds the position of Executive Vice President, General Counsel, and Corporate Secretary for Kelly Services. She oversees the legal, governance, investor relations, enterprise risk management, insurance, corporate security, and communication strategy teams. Williams joined Kelly in 2020, bringing with her 24 years of senior legal experience from companies within the data science and information industries. Her responsibilities include managing regulatory and legal compliance, directing strategic legal initiatives, and providing actionable counsel to senior management.

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The key risks to Kelly Services (KELYA) largely stem from the cyclical nature of the staffing industry and specific vulnerabilities related to its client base and labor market dynamics.

  1. Economic Volatility and Macroeconomic Uncertainty: As a provider of workforce solutions, Kelly Services' business performance is highly sensitive to the broader economic climate. During economic downturns, organizations tend to reduce their demand for temporary and contract workers, delay hiring, and become more cautious about workforce expansion. This directly leads to decreased demand for staffing services, impacting Kelly Services' revenue and cash flow. Conversely, during periods of economic growth, a surge in demand can strain staffing agencies' ability to meet client needs.
  2. Customer Concentration and Reduced Demand from Key Clients: Kelly Services faces significant risk from its reliance on a relatively small number of large customers and U.S. federal contractors. The company has experienced and anticipates further substantial revenue declines directly attributable to reduced demand from these key clients. This business concentration risk can lead to a material impact on the company's financial performance if a few major clients scale back their spending or terminate contracts.
  3. Talent Shortages, Wage Inflation, and Intense Competition for Skilled Workers: Despite varying labor market conditions, Kelly Services consistently confronts challenges in finding and retaining skilled candidates, particularly in specialized and high-demand areas such as science, engineering, and technology. This talent scarcity can lead to wage inflation, increasing Kelly Services' labor costs and putting pressure on its gross profit margins. The highly competitive nature of the staffing industry further exacerbates this risk, as other firms vie for the same talent, making it harder and more expensive to fulfill client needs.

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  • The rise of AI-powered recruitment platforms and automation: These technologies automate various aspects of the talent acquisition process, including candidate sourcing, screening, matching, and initial assessments. This reduces the need for human recruiters and traditional staffing agency services for certain roles, enabling companies to enhance internal talent acquisition capabilities or rely on technology platforms directly.
  • The expansion of gig economy platforms and direct freelance marketplaces: These platforms connect companies directly with independent contractors and freelancers for project-based work, temporary assignments, or specialized skills. This trend bypasses traditional staffing agencies, offering companies a more direct and often more flexible way to access talent, thereby challenging the conventional staffing model.
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Kelly Services (symbol: KELYA) operates in several addressable markets related to workforce solutions. The primary addressable markets for their main products and services are staffing, recruitment process outsourcing (RPO), and payroll process outsourcing.

Addressable Market Sizes:

  • Global Staffing Market: The global staffing industry is projected to reach approximately $650 billion in 2025. Another estimate indicates the global recruitment and staffing market size was around $584.10 billion in 2024 and is projected to reach $945.11 billion by 2034. Furthermore, the global staffing market is projected to expand to $998 billion by 2030.
  • U.S. Staffing Market: The U.S. staffing industry's market size was $189.0 billion in 2024, and it is forecast to rebound to approximately $198 billion in 2025.
  • Global Recruitment Process Outsourcing (RPO) Market: The global RPO market size reached USD 9.4 billion in 2024 and is expected to reach USD 36.4 billion by 2033. Other data indicates the global RPO market was valued at $45.00 billion in 2024 and is projected to reach $82.73 billion by 2033. The market is also projected to reach US$ 66.54 billion by 2031.
  • North America Recruitment Process Outsourcing (RPO) Market: North America is considered the most significant shareholder in the global RPO market. The USA remains the world's largest RPO market.
  • Global Payroll Outsourcing Market: The global payroll outsourcing market was valued at $9.9 billion in 2021 and is projected to reach $19.5 billion by 2031. More recent data shows the global payroll outsourcing market size was valued at USD 9.17 billion in 2024 and is poised to grow to USD 17 billion by 2033. Another source estimates the global market size at approximately USD 10.98 billion in 2025, growing to USD 19.66 billion by 2035.
  • North America Payroll Outsourcing Market: The North American payroll outsourcing market is a prominent market, valued at USD 12.44 billion in 2025 and projected to reach USD 16.87 billion by 2030. North America holds approximately 60% of the global market share, with the U.S. alone accounting for about 55% of that share. The U.S. payroll outsourcing services market size is $1,612.30 million in 2025.

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Here are the expected drivers of future revenue growth for Kelly Services (KELYA) over the next 2-3 years:
  1. Strategic Acquisitions: Kelly Services is strategically growing through acquisitions, such as the May 2024 acquisition of Motion Recruitment Partners (MRP), which significantly enhances its Recruitment Process Outsourcing (RPO) capabilities and positions the company among the top global RPO providers. The planned integration of Sevenstep in 2025 further strengthens its RPO offerings. Additionally, the acquisition of a specialized European life sciences staffing firm in late 2024 contributes to market share and expertise in high-value sectors.
  2. Focus on High-Growth, High-Margin Specialty Segments: The company is pivoting its operations to prioritize higher-margin and higher-growth markets. This includes a targeted focus on professional and technical staffing within high-demand sectors like technology, science, engineering, and financial services, with an aim to achieve a 15% annual growth rate in these areas. The Education segment has also consistently demonstrated strong revenue growth.
  3. Organic Growth and Market Share Expansion through Differentiated Solutions: Kelly Services is concentrating on driving organic revenue growth and expanding its market share by leveraging its differentiated service offerings and implementing client-centric models. Despite challenging market conditions, the company has shown organic revenue growth and market share gains in its specialty segments. This is supported by ongoing business transformation initiatives aimed at improving efficiency and performance.
  4. Technological Advancement and Service Innovation: Investment in technological advancements, including a significant digital platform overhaul and the launch of proprietary AI platforms like GRACE Boost, is expected to enhance employee productivity and improve customer and talent experiences. These innovations are anticipated to lead to new service offerings and increased efficiency, thereby contributing to revenue growth.

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Share Repurchases

  • Kelly's board of directors authorized a share repurchase program on November 26, 2024, to purchase up to an aggregate of $50 million of its Class A common stock, with the authorization expiring on December 2, 2026.
  • Between September 29, 2025, and December 28, 2025, the company repurchased 1,158,628 shares for $10.02 million. This completed the repurchase of 1,900,791 shares for $20.04 million under the December 3, 2024 authorization.
  • The $50 million authorization represented approximately 10% of Kelly's Class A market capitalization at the time of the announcement.

Share Issuance

  • Kelly Services' shares outstanding have generally decreased over the last few years, from 0.04 billion in March 2021 to 0.035 billion in December 2025, indicating repurchases rather than issuances.

Outbound Investments

  • In May 2024, Kelly Services acquired Motions Recruitment Partners (MRP), which contributed 9.8% to reported fourth-quarter 2024 year-over-year revenue growth and 5.9% to full-year 2024 reported revenue growth.
  • This acquisition was a strategic move to shift towards higher-margin, higher-growth markets and solutions, utilizing capital unlocked from streamlining operations.
  • In 2024, Kelly completed the sale of its European staffing operations, aiming to sharpen its focus on specialty outcome-based and staffing services in North America.

Capital Expenditures

  • Capital expenditures were reported as -$8.50 million in the last 12 months as of the Q4 2025 earnings period.
  • Annual capital expenditures were $1.90 million in 2022, $15 million in 2023, and $6.80 million in 2024 (all values in USD millions).

Better Bets vs. Kelly Services (KELYA)

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
NSP_3312026_Insider_Buying_45D_2Buy_200K03312026NSPInsperityInsiderInsider Buys 45DStrong Insider Buying
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TNC_3312026_Insider_Buying_45D_2Buy_200K03312026TNCTennantInsiderInsider Buys 45DStrong Insider Buying
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ADP_3272026_Dip_Buyer_FCFYield03272026ADPAutomatic Data ProcessingDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
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HURN_3272026_Dip_Buyer_FCFYield03272026HURNHuron ConsultingDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
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TRU_3272026_Dip_Buyer_FCFYield03272026TRUTransUnionDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

KELYAMANRHIASGNKFYTBIMedian
NameKelly Se.Manpower.Robert H.ASGN Korn Fer.TrueBlue  
Mkt Price9.6129.4725.6119.5365.804.7722.57
Mkt Cap0.31.42.50.83.40.11.1
Rev LTM4,25117,9575,3793,9802,8901,6164,116
Op Inc LTM2723976230378-28153
FCF LTM114-161267288288-74190
FCF 3Y Avg64122404357273-37197
CFO LTM123-104320328373-58221
CFO 3Y Avg75184456395339-13262

Growth & Margins

KELYAMANRHIASGNKFYTBIMedian
NameKelly Se.Manpower.Robert H.ASGN Korn Fer.TrueBlue  
Rev Chg LTM-1.9%0.6%-7.2%-2.9%5.4%3.1%-0.6%
Rev Chg 3Y Avg-5.0%-3.2%-9.4%-4.5%0.5%-10.0%-4.8%
Rev Chg Q-11.9%7.1%-5.8%-0.5%7.2%8.3%3.3%
QoQ Delta Rev Chg LTM-3.2%1.8%-1.5%-0.1%1.7%2.0%0.8%
Op Inc Chg LTM-57.8%-22.0%-68.3%-24.3%15.5%15.2%-23.2%
Op Inc Chg 3Y Avg7.3%-24.8%-56.2%-17.3%-0.0%-78.4%-21.0%
Op Mgn LTM0.6%1.3%1.4%5.8%13.1%-1.7%1.4%
Op Mgn 3Y Avg0.9%1.6%4.3%7.1%11.5%-1.5%2.9%
QoQ Delta Op Mgn LTM-0.6%0.0%-0.7%-0.4%0.2%-0.0%-0.2%
CFO/Rev LTM2.9%-0.6%5.9%8.2%12.9%-3.6%4.4%
CFO/Rev 3Y Avg1.7%1.0%7.7%9.4%12.0%-1.0%4.7%
FCF/Rev LTM2.7%-0.9%5.0%7.2%10.0%-4.6%3.8%
FCF/Rev 3Y Avg1.4%0.7%6.8%8.5%9.7%-2.3%4.1%

Valuation

KELYAMANRHIASGNKFYTBIMedian
NameKelly Se.Manpower.Robert H.ASGN Korn Fer.TrueBlue  
Mkt Cap0.31.42.50.83.40.11.1
P/S0.10.10.50.21.20.10.1
P/Op Inc12.35.833.33.69.0-5.17.4
P/EBIT-5.07.333.33.68.6-5.15.4
P/E-1.3-103.319.27.312.6-3.03.0
P/CFO2.7-13.28.02.59.1-2.52.6
Total Yield-72.7%1.5%14.6%13.7%9.4%-33.6%5.4%
Dividend Yield3.3%2.4%9.3%0.0%1.5%0.0%2.0%
FCF Yield 3Y Avg16.2%1.6%7.1%11.0%8.2%-23.3%7.6%
D/E0.51.50.11.40.20.90.7
Net D/E0.40.9-0.11.2-0.10.70.5

Returns

KELYAMANRHIASGNKFYTBIMedian
NameKelly Se.Manpower.Robert H.ASGN Korn Fer.TrueBlue  
1M Rtn7.9%4.4%4.4%-49.4%4.4%33.6%4.4%
3M Rtn-5.2%-3.7%-8.1%-61.7%-2.4%-10.0%-6.6%
6M Rtn-22.2%-8.7%-7.6%-58.0%-5.9%-19.4%-14.1%
12M Rtn-13.4%-26.6%-38.6%-62.3%8.8%6.7%-20.0%
3Y Rtn-35.9%-55.3%-59.1%-73.9%50.4%-68.3%-57.2%
1M Excs Rtn-0.8%-4.3%-4.2%-58.1%-4.3%24.9%-4.3%
3M Excs Rtn-8.8%-7.3%-11.7%-65.3%-6.0%-13.6%-10.2%
6M Excs Rtn-29.1%-16.4%-16.4%-66.5%-12.8%-23.4%-19.9%
12M Excs Rtn-46.1%-60.5%-73.8%-99.9%-24.0%-25.1%-53.3%
3Y Excs Rtn-110.9%-130.3%-133.7%-148.0%-31.1%-146.1%-132.0%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Professional & Industrial (P&I)1,5401,6661,8371,8582,213
Science, Engineering & Technology (SET)1,1911,2651,1571,0191,132
Education842636416287451
International8129321,0689891,182
Outsourcing & Consulting (OCG)455468432364378
Inter-Segment-3-3-1-0-0
Total4,8364,9654,9104,5165,356


Price Behavior

Price Behavior
Market Price$9.61 
Market Cap ($ Bil)0.3 
First Trading Date03/26/1990 
Distance from 52W High-33.2% 
   50 Days200 Days
DMA Price$9.10$10.70
DMA Trenddowndown
Distance from DMA5.6%-10.2%
 3M1YR
Volatility37.0%40.8%
Downside Capture0.510.72
Upside Capture45.5573.71
Correlation (SPY)25.9%30.8%
KELYA Betas & Captures as of 3/31/2026

 1M2M3M6M1Y3Y
Beta0.640.941.140.700.760.70
Up Beta3.162.572.460.750.630.75
Down Beta0.490.461.351.130.690.74
Up Capture-0%52%104%-0%55%19%
Bmk +ve Days7162765139424
Stock +ve Days7183161123377
Down Capture82%108%61%96%115%94%
Bmk -ve Days12233358110323
Stock -ve Days14223061121353

[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 KELYA
KELYA-12.9%40.7%-0.23-
Sector ETF (XLI)38.3%15.2%1.9228.9%
Equity (SPY)34.0%12.6%2.0531.0%
Gold (GLD)42.9%27.2%1.29-14.4%
Commodities (DBC)46.4%18.0%1.97-12.9%
Real Estate (VNQ)14.2%13.3%0.7428.8%
Bitcoin (BTCUSD)-16.6%42.1%-0.3221.7%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with KELYA
KELYA-15.0%38.5%-0.32-
Sector ETF (XLI)13.0%17.3%0.5942.8%
Equity (SPY)12.7%17.1%0.5838.8%
Gold (GLD)21.2%17.8%0.97-3.2%
Commodities (DBC)14.5%19.1%0.626.1%
Real Estate (VNQ)3.7%18.8%0.1034.9%
Bitcoin (BTCUSD)7.0%56.3%0.3417.0%

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Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with KELYA
KELYA-5.6%39.7%-0.01-
Sector ETF (XLI)13.8%19.9%0.6152.3%
Equity (SPY)14.9%17.9%0.7145.0%
Gold (GLD)13.9%15.9%0.73-6.1%
Commodities (DBC)10.1%17.8%0.4715.3%
Real Estate (VNQ)5.4%20.7%0.2341.8%
Bitcoin (BTCUSD)68.3%66.9%1.0713.1%

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Short Interest

Short Interest: As Of Date4152026
Short Interest: Shares Quantity1.0 Mil
Short Interest: % Change Since 3312026-9.2%
Average Daily Volume0.3 Mil
Days-to-Cover Short Interest3.2 days
Basic Shares Quantity34.8 Mil
Short % of Basic Shares2.9%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/12/2026-1.3%-1.8%-13.2%
11/6/2025-17.9%-24.7%-24.0%
8/7/20254.6%18.8%13.8%
5/8/202510.0%6.8%5.2%
2/13/20257.2%3.0%0.5%
11/7/2024-18.5%-29.5%-35.3%
8/8/2024-5.2%-3.5%-1.7%
5/9/2024-6.3%-2.9%-7.7%
...
SUMMARY STATS   
# Positive111212
# Negative131212
Median Positive7.2%9.7%13.5%
Median Negative-6.3%-8.7%-14.5%
Max Positive20.9%26.0%25.2%
Max Negative-18.5%-29.5%-35.3%

SEC Filings

Expand for More
Report DateFiling DateFiling
12/31/202502/12/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/13/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/20/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202202/16/202310-K
09/30/202211/10/202210-Q
06/30/202208/11/202210-Q
03/31/202205/12/202210-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/12/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue Growth-13.0%-12.0%-11.0%-7.7%1.0%RaisedGuidance: -13.0% for Q4 2025
Q1 2026 Adjusted EBITDA Margin 1.5% -50.0%-1.5%LoweredGuidance: 3.0% for Q4 2025

Prior: Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Revenue Growth-14.0%-13.0%-12.0%  Lower New
Q4 2025 Adjusted EBITDA Margin 3.0%   Higher New