Tearsheet

Robert Half (RHI)

Market Price (12/28/2025): $27.72 | Market Cap: $2.8 Bil
Sector: Industrials | Industry: Human Resource & Employment Services

Robert Half (RHI)

Market Price (12/28/2025): $27.72
Market Cap: $2.8 Bil
Sector: Industrials
Industry: Human Resource & Employment Services

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

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 8.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.9%, FCF Yield is 8.5%	Weak multi-year price returns 2Y Excs Rtn is -111%, 3Y Excs Rtn is -138%	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.1%, Rev Chg QQuarterly Revenue Change % is -7.5%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31%	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%	Key risks RHI key risks include [1] AI and automation displacing its specialized administrative and "back office" staffing roles and [2] intense competition for its Protiviti consulting subsidiary from "big four" firms.
2	Low stock price volatility Vol 12M is 36%
3	Megatrend and thematic drivers Megatrends include Future of Work. Themes include Talent Acquisition & Management, Gig Economy & Flexible Workforces, and Workforce Transformation.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 14%, Dividend Yield is 8.4%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 9.9%, FCF Yield is 8.5%
1	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31%
2	Low stock price volatility Vol 12M is 36%
3	Megatrend and thematic drivers Megatrends include Future of Work. Themes include Talent Acquisition & Management, Gig Economy & Flexible Workforces, and Workforce Transformation.
4	Weak multi-year price returns 2Y Excs Rtn is -111%, 3Y Excs Rtn is -138%
5	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
6	Weak revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -7.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -9.1%, Rev Chg QQuarterly Revenue Change % is -7.5%
7	Key risks RHI key risks include [1] AI and automation displacing its specialized administrative and "back office" staffing roles and [2] intense competition for its Protiviti consulting subsidiary from "big four" firms.

Valuation, Metrics & Events

	12/28/25	2024	2023	2022	2021
Share Price CYE	$27.72	$66.34	$80.32	$65.76	$97.40
Market Cap CYE ($ Bil)	2.8	6.7	8.4	7.0	10.7
Total Debt ($ Bil)	0.2	0.2	0.2	0.2	0.3
Total Cash ($ Bil)	0.4	0.5	0.7	0.7	0.6
Enterprise Value ($ Bil)	2.6	6.9	8.6	7.2	11.0
Valuation Ratios
P/S TTM	0.5	1.2	1.5	1.1	1.9
P/EBIT TTM	23.4	30.0	20.0	8.2	16.6
P/E TTM	17.8	28.8	22.6	12.1	20.6
P/FCF TTM	11.7	20.4	15.7	12.8	21.7
Sector Ratios
P/S TTM (Sector)	1.6	1.5	1.4	1.1	1.6
P/EBIT TTM (Sector)	13.0	11.8	11.2	9.1	12.2
P/E TTM (Sector)	17.2	16.5	15.4	12.1	16.0
P/FCF TTM (Sector)	13.6	13.2	12.1	8.4	13.8

	12/28/25	2024	2023
Share Price CYE	$27.72	$66.34	$80.32
Market Cap CYE ($ Bil)	2.8	6.7	8.4
Total Debt ($ Bil)	0.2	0.2	0.2
Total Cash ($ Bil)	0.4	0.5	0.7
Enterprise Value ($ Bil)	2.6	6.9	8.6
Valuation Ratios
P/S TTM	0.5	1.2	1.5
P/EBIT TTM	23.4	30.0	20.0
P/E TTM	17.8	28.8	22.6
P/FCF TTM	11.7	20.4	15.7
Sector Ratios
P/S TTM (Sector)	1.6	1.5	1.4
P/EBIT TTM (Sector)	13.0	11.8	11.2
P/E TTM (Sector)	17.2	16.5	15.4
P/FCF TTM (Sector)	13.6	13.2	12.1

	RHI	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	5.5
Rev Chg Q	-7.5%	7.3%
Rev Chg LTM	-7.3%	6.1%
Rev Chg 3Y Avg	-9.1%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.1
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	2.2%	18.8%
CFO/Rev LTM	5.4%	20.4%
Net Inc Mgn	2.8%	13.1%
VALUATION	LOW
P/S	0.5	3.3
P/CFO	9.5	15.8
P/FCF	11.7	20.7
P/E	17.8	23.7
STABILITY	VERY GOOD
Debt/Equity	0.09	0.21
Cash/Assets	0.13	0.07

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Metric	Value	Date	Source
Billing Days	64.2	9302025	Link
U.S. Talent Solutions Revenue Year-Over-Year Growth	-11%	9302025	Link
Non-U.S. Talent Solutions Revenue Year-Over-Year Growth	-12%	9302025	Link
Permanent Placement Revenue as a Percentage of Talent Solutions Revenue	12.9%	9302025	Link
Conversion Revenue as a Percentage of Contract Revenue	3.2%	9302025	Link
Full-Time Internal Employees (Talent Solutions)	7600	12312024	Link
U.S. Protiviti Revenue	$398 million	9302025	Link
Non-U.S. Protiviti Revenue	$100 million	9302025	Link

Upcoming
2/04/2026	Earnings Release	Rev: - EPS: -
4/21/2026	Earnings Release	Rev: - EPS: -

RHI Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are the key points explaining the approximate -24.1% movement in Robert Half (RHI) stock from August 31, 2025, to December 28, 2025:

1. Disappointing Q3 2025 Financial Results

Robert Half reported its third-quarter 2025 revenues of $1.35 billion, falling short of analyst consensus estimates of $1.37 billion, and representing a 7.5% decline year-over-year. While the non-GAAP earnings per share (EPS) of $0.43 met expectations, it was lower than the $0.64 reported in the third quarter of 2024, contributing to a negative market reaction.

2. Weak Q4 2025 Guidance

Following the Q3 results, Robert Half provided Q4 2025 guidance with an estimated EPS range of $0.25 to $0.35 and revenue guidance between $1.245 billion and $1.345 billion. This outlook signaled continued operational challenges and a slower-than-anticipated recovery for the company, further impacting investor confidence.

3. Challenging Staffing Industry Environment

The broader staffing and recruitment industry experienced a difficult period in 2025, characterized by slowing growth, persistent caution from both clients and job seekers, and a cooler, uneven labor market. This challenging macroeconomic backdrop constrained hiring activity and new project starts across the sector.

4. Negative Analyst Sentiment and Price Target Revisions

During this period, several Wall Street analysts issued "Reduce" or "Hold" ratings for RHI, with some decreasing their price targets for the stock in late 2025. This reflected a pessimistic outlook regarding Robert Half's future performance and potential for growth.

5. Concerns over Dividend Sustainability

While Robert Half maintained a quarterly dividend, analysts noted a very high dividend payout ratio of 153.25%. This raised concerns about the sustainability of the dividend in the long term, potentially making the stock less attractive to income-focused investors and contributing to downward pressure.

Stock Movement Drivers

Fundamental Drivers

The -16.7% change in RHI stock from 9/27/2025 to 12/27/2025 was primarily driven by a -10.9% change in the company's Net Income Margin (%).

	9272025	12272025	Change
Stock Price ($)	33.29	27.72	-16.72%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5569.03	5458.50	-1.98%
Net Income Margin (%)	3.20%	2.85%	-10.89%
P/E Multiple	18.77	17.81	-5.14%
Shares Outstanding (Mil)	100.41	99.90	0.51%
Cumulative Contribution			-16.72%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025

	Return	Correlation
RHI	-16.7%
Market (SPY)	4.3%	27.1%
Sector (XLI)	3.0%	31.9%

Fundamental Drivers

The -30.4% change in RHI stock from 6/28/2025 to 12/27/2025 was primarily driven by a -21.3% change in the company's Net Income Margin (%).

	6282025	12272025	Change
Stock Price ($)	39.80	27.72	-30.35%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5671.81	5458.50	-3.76%
Net Income Margin (%)	3.62%	2.85%	-21.26%
P/E Multiple	19.52	17.81	-8.78%
Shares Outstanding (Mil)	100.67	99.90	0.76%
Cumulative Contribution			-30.35%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025

	Return	Correlation
RHI	-30.4%
Market (SPY)	12.6%	31.2%
Sector (XLI)	7.5%	34.3%

Fundamental Drivers

The -58.6% change in RHI stock from 12/27/2024 to 12/27/2025 was primarily driven by a -41.1% change in the company's Net Income Margin (%).

	12272024	12272025	Change
Stock Price ($)	66.92	27.72	-58.58%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	5886.36	5458.50	-7.27%
Net Income Margin (%)	4.84%	2.85%	-41.07%
P/E Multiple	24.02	17.81	-25.89%
Shares Outstanding (Mil)	102.17	99.90	2.23%
Cumulative Contribution			-58.60%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025

	Return	Correlation
RHI	-58.6%
Market (SPY)	17.0%	55.6%
Sector (XLI)	19.2%	55.1%

Fundamental Drivers

The -57.0% change in RHI stock from 12/28/2022 to 12/27/2025 was primarily driven by a -69.4% change in the company's Net Income Margin (%).

	12282022	12272025	Change
Stock Price ($)	64.40	27.72	-56.96%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	7281.03	5458.50	-25.03%
Net Income Margin (%)	9.31%	2.85%	-69.41%
P/E Multiple	10.24	17.81	73.86%
Shares Outstanding (Mil)	107.86	99.90	7.38%
Cumulative Contribution			-57.19%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025

	Return	Correlation
RHI	-65.6%
Market (SPY)	48.0%	51.8%
Sector (XLI)	41.2%	53.8%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
RHI Return	1%	81%	-32%	22%	-17%	-58%	-48%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
RHI Win Rate	42%	83%	33%	50%	42%	33%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
RHI Max Drawdown	-46%	-2%	-35%	-11%	-32%	-62%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL. See RHI Returns vs. Peers.
[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] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	RHI	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-47.8%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	91.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-46.4%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	86.6%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	232 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-33.6%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	50.7%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	791 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-65.4%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	188.8%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,753 days	1,480 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Robert Half's stock fell -47.8% during the 2022 Inflation Shock from a high on 2/9/2022. A -47.8% loss requires a 91.5% gain to breakeven.

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About Robert Half (RHI)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Robert Half International Inc. provides staffing and risk consulting services in North America, South America, Europe, Asia, and Australia. The company operates through three segments: Temporary and Consultant Staffing, Permanent Placement Staffing, and Risk Consulting and Internal Audit Services. It places temporary services for accounting, finance, and bookkeeping; temporary and full-time office and administrative personnel consisting of executive and administrative assistants, receptionists, and customer service representatives; full-time accounting, financial, tax, and accounting operations personnel; and information technology contract professionals and full-time employees in the areas of platform systems integration to end-user technical and desktop support, including specialists in application development, networking and cloud, systems integration and deployment, database design and administration, and security and business continuity. The company also offers temporary and full-time employees in attorney, paralegal, legal administrative, and legal secretarial positions; and senior-level project professionals in the accounting and finance fields for financial systems conversions, expansion into new markets, business process re-engineering, business systems performance improvement, and post-merger financial consolidation. It is involved in serving professionals in the areas of creative, design, marketing, advertising, and public relations; and placing various positions, such as creative directors, graphics designers, web designers, media buyers, front end developers, copywriters, digital marketing managers, marketing analytics specialists, brand managers, and public relations specialists. The company provides internal audit, technology consulting, risk and compliance consulting, and business performance services. It serves clients and employment candidates. Robert Half International Inc. was founded in 1948 and is headquartered in Menlo Park, California.

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Here are 1-3 brief analogies for Robert Half (RHI):

Robert Half is like **LinkedIn Jobs** or **Indeed**, but with a dedicated team of human recruiters who actively source, vet, and place specialized professionals in roles like finance, technology, and marketing.
It's the **Accenture** or **Deloitte** of professional staffing, focusing on connecting businesses with temporary and permanent skilled talent in specific fields, rather than general consulting.
Think of it as a **talent agency** for businesses, much like CAA or WME represents actors, but Robert Half connects companies with professionals like accountants, IT specialists, and administrative staff.

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Staffing Services
- Temporary and Contract Staffing: Supplies skilled professionals for short-term projects, interim support, or specific contract durations across various industries.
- Permanent Placement Staffing: Connects companies with qualified candidates for full-time, permanent positions across a wide range of professional fields.
Consulting and Business Solutions
- Protiviti Consulting: Provides specialized project-based consulting in areas such as internal audit, risk and compliance, technology, and business process improvement.
- Managed Solutions: Offers outsourced teams or managed services for specific business functions, providing ongoing operational support and expertise.

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Robert Half (symbol: RHI) is a global staffing and consulting firm. Its business model primarily involves providing talent solutions and consulting services to other companies, rather than directly to individuals seeking employment.

Due to the nature of its business as a service provider with a vast and diversified client base, Robert Half does not publicly disclose a list of "major customers" by name, nor does it typically have customer concentration with a few large clients in the way a product manufacturer might. Its revenue is generated from thousands of businesses that utilize its staffing and consulting services.

Therefore, its customers are broadly defined as:

Businesses Across Diverse Industries: Robert Half serves companies in virtually every sector, including finance and accounting, technology, marketing and creative, legal, administrative, and more. Any business needing to fill positions or requiring specialized project consulting can be a client.
Companies of All Sizes: Its clientele ranges from small and medium-sized enterprises (SMEs) to large, multinational corporations. These companies seek temporary, project-based, or permanent talent solutions, as well as specialized consulting expertise through Protiviti, its consulting subsidiary.
Organizations Seeking Talent & Expertise: The core need among Robert Half's customers is the demand for skilled professionals to address workforce gaps, manage projects, or provide specialized knowledge that is not available internally.

Because Robert Half's customer relationships are highly varied and confidential, specific names of client companies are not publicly available or typically disclosed.

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M. Keith Waddell, Vice Chairman, President and Chief Executive Officer Mr. M. Keith Waddell became CEO of Robert Half in December 2019, having previously served as its Chief Financial Officer for 33 years. He was instrumental in launching Protiviti, the company's global internal audit and business, risk, and technology consulting subsidiary. Waddell has been a long-time advocate for investments in technology and innovation, including proprietary AI matching technology, to enhance the customer experience. Michael C. Buckley, Executive Vice President, Chief Financial Officer Mr. Michael C. Buckley was promoted to Executive Vice President, Chief Financial Officer in November 2019. He has held various positions within Robert Half International Inc. since 1995, including Vice President of Finance, Treasurer, and Controller of Corporate Accounting. He also serves as Co-Managing Director at Robert Half Deutschland GmbH & Co. KG. Harold M. Messmer, Jr., Chairman of the Board Mr. Harold M. Messmer, Jr. served as CEO of Robert Half for 33 years before transitioning to Executive Chairman in December 2019. He joined the company in 1986. Paul F. Gentzkow, President and CEO, Talent Solutions Mr. Paul F. Gentzkow was appointed President and CEO of Talent Solutions (formerly Staffing Services) in November 2019, after many years as President and Chief Operating Officer of Staffing Services. Joseph A. Tarantino, President and CEO, Protiviti Mr. Joseph A. Tarantino continues to serve as President and CEO of Protiviti, Robert Half's global business consulting and internal audit subsidiary.

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The public company Robert Half (symbol: RHI) faces several key risks to its business operations:

Dependence on Economic and Labor Trends: Robert Half's financial performance is significantly influenced by the overall health of the global economy and prevailing labor market conditions. A slowdown in economic activity, reduced hiring, and decreased demand for both temporary and permanent staffing services directly impact the company's revenue and net income. The company's recent decline in service revenues and net income has been attributed to broader economic challenges and subdued hiring activity.
Impact of Artificial Intelligence (AI) and Automation: The increasing adoption of AI and automation presents a substantial long-term risk to Robert Half's business model. Analysts suggest that temporary roles, particularly those in administrative and "back office" functions where Robert Half specializes, are highly susceptible to displacement by these technologies. This trend could lead to a decline in the company's addressable client base and fundamentally alter the demand for its staffing services.
Intense Competition: Robert Half operates in a highly competitive and dynamic professional staffing and consulting industry. The company faces significant competition from large, global staffing firms such as ManpowerGroup, Randstad, and Adecco. Furthermore, its Protiviti subsidiary, which offers risk consulting and internal audit services, competes with "big four" accounting firms and numerous other evolving players, leading to intense pricing pressures and challenges in attracting clients and winning proposals.

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The increasing sophistication and adoption of **AI and automation in talent acquisition**, coupled with the **proliferation and growth of online freelance and gig economy platforms**, poses a clear emerging threat to Robert Half. These technologies and platforms empower companies to directly source, screen, and engage talent more efficiently and often at a lower cost, thereby reducing reliance on traditional human-led staffing agencies for candidate matching, placement, and project-based solutions. Examples include AI-powered applicant tracking systems automating initial candidate screening and matching, and specialized online marketplaces connecting businesses directly with skilled professionals for contract and project work, bypassing intermediaries.

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Robert Half (symbol: RHI) operates primarily in the specialized staffing and business consulting markets.

Addressable Markets for Robert Half's Main Products and Services:

Staffing Services (Temporary and Permanent Placement)

U.S. Staffing Industry: The U.S. staffing industry is a significant market. Forecasts for 2025 estimate its size to be approximately $188.7 billion to $198.7 billion.
Global Staffing Market: The global recruitment and staffing market size is estimated at around $519.85 billion in 2024, with projections to reach approximately $650 billion to $1,288.6 billion by 2025. Specifically, the global contract or temporary staffing services market is valued at approximately $480.15 billion in 2025.

Consulting Solutions (Management Consulting and IT Consulting)

U.S. Management Consulting Market: The U.S. management consulting market size is estimated to be between approximately $125.56 billion and $407.3 billion in 2025. Another estimate valued the market at $141.36 billion in 2023, projected to reach $279.10 billion by 2033.
Global IT Consulting Market: The global IT consulting market size is expected to reach between approximately $78.03 billion and $117.1 billion in 2025. However, some broader estimates for the IT Consulting Services Market indicate a value of approximately $561.8 billion in 2024, projected to reach $906.47 billion by 2032, and an Information Technology Consulting Services Market size of $1,094.01 billion in 2025. North America alone contributes a substantial share to the global IT consulting market.

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Robert Half International (RHI) anticipates several key drivers for revenue growth over the next 2-3 years, stemming from broader market improvements and strategic internal initiatives.

Improving Macroeconomic Conditions and Business Confidence: A rebound in general business confidence and more favorable macroeconomic conditions are expected to lead to increased hiring activity and new project starts. This positive shift is a fundamental driver for Robert Half's talent solutions and consulting services, with management forecasting a return to sequential revenue growth for contract talent.
Continued Growth and Expansion of Protiviti: The company's Protiviti consulting segment is a significant growth engine. It has demonstrated strong performance, particularly in regulatory risk and compliance and internal audit solutions for financial services. A growing pipeline of projects for Protiviti and anticipated margin improvements in 2026 are expected to contribute to future revenue expansion.
Strategic Investments in Technology and Artificial Intelligence (AI): Robert Half is actively investing in technology and innovation, including AI, to enhance its core business capabilities. These investments aim to capitalize on the increasing demand for tech-enabled staffing solutions, positioning the company for future growth in a evolving market.
Meeting Demand for Specialized Talent and Flexible Workforce Solutions: Robert Half's focus on specialized talent solutions across sectors such as finance and accounting, technology, legal, and administrative roles positions it to benefit from ongoing demand. The increasing client preference for flexible resources and the impact of an aging workforce are expected to drive demand for the company's contract and permanent placement services.
Global Expansion and Market Diversification: Leveraging its established global footprint, Robert Half has opportunities to further expand into emerging international markets. This expansion, potentially augmented by strategic partnerships and acquisitions, is aimed at driving revenue growth and diversifying its client base across different geographies.

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Share Repurchases

Robert Half repurchased approximately $249 million of its common stock, or 3.5 million shares, during 2024.
In 2023, the company repurchased approximately 3 million shares for $232 million. Additionally, $26 million in share repurchases were made in connection with employee stock plans during 2023.
In 2022, total share repurchases amounted to $319.897 million. This included $26 million in repurchases related to employee stock plans.
Robert Half funded share repurchases primarily with cash generated from operations.

Share Issuance

No significant dollar amount of shares issued for capital raising purposes by third parties was identified in the last 3-5 years.

Inbound Investments

No information is available regarding large inbound investments made in Robert Half by third parties over the last 3-5 years.

Outbound Investments

No information is available regarding significant strategic investments made by Robert Half in other companies during the last 3-5 years.

Capital Expenditures

Capital expenditures, reflecting net cash used in investing activities, were $87 million in 2024.
Capital expenditures, reflecting net cash used in investing activities, were $112 million in 2023. The company had anticipated 2023 capital expenditures to be between $80 million and $90 million, largely focused on software initiatives and technology infrastructure, including capitalized costs for cloud computing arrangements.
In 2022, capital expenditures, reflecting net cash used in investing activities, were $104 million. In 2021, they were $59 million.

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Uber Technologies

CAT (17.8%)

Caterpillar

GE (17.2%)

GE Aerospace

RTX (9.3%)

RTX

GEV (9.1%)

GE Vernova

Higher FCF/Rev LTM (Value for RHI: 4.3%)

UBER (17.5%)

Uber Technologies

GE (14.7%)

GE Aerospace

CAT (11.7%)

Caterpillar

GEV (6.6%)

GE Vernova

RTX (5.5%)

RTX

Higher Total Yield (Value for RHI: 14.1%)

FLR (51.2%)

Fluor

GFL (23.1%)

GFL Environmental

AL (15.6%)

Air Lease

CNXC (15.4%)

Concentrix

TDG (15.4%)

TransDigm

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for RHI: -9.1% | 0.5x)

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

GM (8.6% | 0.4x)

General Motors

ELV (8.4% | 0.4x)

Elevance Health

CI (13.6% | 0.3x)

Cigna

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RHI: -9.1% | 23.4x)

META (17.3% | 20.4x)

Meta Platforms

XOM (-5.6% | 14.3x)

Exxon Mobil

JNJ (6.1% | 20.7x)

Johnson & Johnson

V (10.9% | 17.3x)

Visa

HD (1.9% | 16.1x)

Home Depot

Higher Rev Chg LTM (Value for RHI: -7.3%)

NVDA (65.2%)

NVIDIA

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for RHI: -9.1%)

NVDA (91.6%)

NVIDIA

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for RHI: 2.2%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

AMZN (11.4%)

Amazon.com

Higher CFO/Rev LTM (Value for RHI: 5.4%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for RHI: 4.3%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for RHI: 14.1%)

CMCSA (25.2%)

Comcast

FNMA (23.7%)

Federal National Mortgage Association Fannie Mae

VZ (18.3%)

Verizon Communications

CNQ (16.7%)

Canadian Natural Resources

MO (16.2%)

Altria

		Best Bets In Industrials Sector
	RHI	GATX	VRSK	PAYX	ADT	AGX	PCTY	TDG	FTV	VRRM	CSW
What You Pay
P/E	17.8	19.9	33.4	25.7	10.4	37.5	37.9	36.7	30.6	70.3	35.9
P/EBIT	23.4	9.6	22.8	17.7	5.2	37.6	27.2	18.1	14.9	20.8	27.7
What You Get
Rev Chg Q	-7.5%	8.4%	5.9%	18.3%	4.4%	-2.3%	12.5%	11.5%	2.3%	16.1%	21.5%
Rev Chg LTM	-7.3%	10.7%	7.3%	12.4%	6.3%	13.5%	13.3%	11.2%	27.9%	8.5%	14.9%
Rev Chg 3Y Avg	-9.1%	10.3%	13.4%	7.9%	3.4%	26.9%	21.4%	17.7%	9.4%	9.1%	11.3%
FCF/Rev 3Y Avg	6.6%	39.2%	33.2%	32.6%	24.7%	24.5%	21.5%	21.0%	20.1%	19.0%	18.9%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Robert Half Earnings Notes
2	Robert Half Earnings Notes
3	With Robert Half Stock Surging, Have You Considered The Downside?	Return
4	Robert Half vs Johnson & Johnson: Which Is A Better Investment?	Counter-Intuitive Comparisons
5	Robert Half vs Union Pacific: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	Robert Half vs Trinet: Which Is A Better Investment?	Counter-Intuitive Comparisons
7	How Does Robert Half Stock Stack Up Against Its Peers?	Peer Comparison
8	Better Bet Than RHI Stock: Pay Less Than Robert Half To Get More From UNH, MRK
9	Better Bet Than RHI Stock: Pay Less Than Robert Half To Get More From UNP, NSC
10	Day 14 of Loss Streak for Robert Half Stock with -21% Return (vs. -51% YTD) [8/11/2025]	Notification

	Title
0	ARTICLES

Trade Ideas

Select ideas related to RHI. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
CNM_11212025_Dip_Buyer_FCFYield	11212025	CNM	Core & Main	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	18.3%	18.3%	-1.6%
VRRM_11212025_Dip_Buyer_FCFYield	11212025	VRRM	Verra Mobility	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.5%	5.5%	-1.2%
LII_11212025_Dip_Buyer_ValueBuy	11212025	LII	Lennox International	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	7.1%	7.1%	0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper	11212025	ADP	Automatic Data Processing	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	2.9%	2.9%	-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%	11212025	CW	Curtiss-Wright	Quality	Q \| Momentum \| UpsideQuality Stocks with Momentum and Upside Buying quality stocks with strong momentum but still having room to run	5.7%	5.7%	-0.4%
RHI_7312023_Dip_Buyer_FCFYield	07312023	RHI	Robert Half	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	10.9%	-11.1%	-17.0%
RHI_6302020_Dip_Buyer_FCFYield	06302020	RHI	Robert Half	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	19.2%	71.9%	-7.0%
RHI_5312019_Dip_Buyer_FCFYield	05312019	RHI	Robert Half	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	9.7%	-3.2%	-35.2%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Robert Half

Peers to compare with:

Financials

	RHI	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Robert H.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	27.72	23.26	24.49	305.09	78.16	273.40	52.94
Mkt Cap	2.8	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	5,458	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	118	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	237	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	410	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	292	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	462	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	RHI	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Robert H.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	-7.3%	3.2%	13.8%	4.5%	8.9%	6.0%	5.2%
Rev Chg 3Y Avg	-9.1%	-3.9%	6.5%	2.6%	3.7%	1.8%	2.2%
Rev Chg Q	-7.5%	4.2%	14.4%	9.1%	7.5%	9.6%	8.3%
QoQ Delta Rev Chg LTM	-2.0%	1.1%	3.7%	2.1%	1.8%	2.1%	2.0%
Op Mgn LTM	2.2%	6.6%	4.8%	17.7%	22.5%	31.9%	12.1%
Op Mgn 3Y Avg	5.0%	7.4%	7.2%	16.4%	24.2%	30.8%	11.9%
QoQ Delta Op Mgn LTM	-0.8%	-0.2%	-1.4%	0.6%	0.4%	0.1%	-0.1%
CFO/Rev LTM	5.4%	6.7%	8.5%	20.6%	23.8%	26.6%	14.6%
CFO/Rev 3Y Avg	7.5%	6.8%	12.7%	21.4%	26.1%	28.4%	17.1%
FCF/Rev LTM	4.3%	5.1%	1.8%	18.1%	22.1%	23.5%	11.6%
FCF/Rev 3Y Avg	6.6%	5.5%	4.6%	18.6%	24.6%	25.6%	12.6%

Valuation

	RHI	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Robert H.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	2.8	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	0.5	0.4	1.0	4.4	5.4	10.0	2.7
P/EBIT	23.4	6.8	19.9	25.1	22.5	31.3	22.9
P/E	17.8	8.6	572.7	36.0	29.9	41.0	33.0
P/CFO	9.5	5.9	11.2	21.1	22.5	37.5	16.2
Total Yield	14.1%	14.1%	2.3%	5.0%	5.4%	2.8%	5.2%
Dividend Yield	8.4%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	6.8%	10.6%	5.5%	6.4%	6.0%	3.1%	6.2%
D/E	0.1	0.5	0.7	0.2	0.1	0.0	0.2
Net D/E	-0.0	0.3	0.6	0.2	0.0	0.0	0.1

Returns

	RHI	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Robert H.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	1.7%	-1.8%	14.4%	0.6%	2.7%	-1.5%	1.1%
3M Rtn	-16.7%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	-30.4%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	-58.6%	-27.0%	16.2%	40.5%	34.5%	7.5%	11.8%
3Y Rtn	-57.0%	-1.9%	71.1%	143.1%	81.3%	120.2%	76.2%
1M Excs Rtn	-1.0%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-1.6%
3M Excs Rtn	-21.0%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	-42.6%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	-74.5%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	-4.6%
3Y Excs Rtn	-137.9%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

Comparison Analyses

	Title
0	How Does Robert Half Stock Stack Up Against Its Peers?
1	Robert Half vs. Automatic Data Processing: Neither Seems Like A Good Bet
2	Why PAYX With 25% Upside May Beat RHI?
3	RHI or PAYC - With 38% Return Forecast, PAYC Probably Deserves Your Money
4	Robert Half vs. Activision Blizzard: Both Seem Similar Bets
5	Robert Half vs. Vertex Pharmaceuticals: With Return Forecast Of 100%, Vertex Pharmaceuticals Is A Better Bet
6	Robert Half vs. Zoetis: With Return Forecast Of 23%, Zoetis Is A Better Bet
7	Robert Half vs. Fidelity National Information Services: With Return Forecast Of 19%, Fidelity National Information Services Is A Better Bet
8	Robert Half vs. Transdigm Group: With Return Forecast Of 54%, Transdigm Group Is A Better Bet
9	Robert Half vs. Dominion Resources: With Return Forecast Of 75%, Dominion Resources Is A Better Bet

FDIC Bank Data

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	10/31/2025	2/13/2025	2/20/2024	2/10/2023	2/14/2022	2/12/2021	2/14/2020
Key Financials
Total Revenue	5,458	5,796	6,393	7,238	6,461	5,109	6,074
EBITDA	203	331	564	1,053	825	427	635
Operating Income	118	241	465	975	743	345	565
Net Income	156	252	411	658	599	306	454
EPS	1.54	2.45	3.90	6.08	5.42	2.72	3.93
Growth Rates
Total Revenue Growth	-7.3%	-9.3%	-11.7%	12.0%	26.5%	-15.9%	4.7%
EBITDA Growth	-41.1%	-41.3%	-46.5%	27.6%	93.1%	-32.7%	-4.5%
Operating Income Growth	-51.4%	-48.0%	-52.4%	31.3%	115.0%	-38.9%	-5.6%
Net Income Growth	-45.4%	-38.8%	-37.5%	9.9%	95.5%	-32.6%	4.6%
Margins
EBITDA Margin	3.7%	5.7%	8.8%	14.5%	12.8%	8.4%	10.4%
Operating Income Margin	2.2%	4.2%	7.3%	13.5%	11.5%	6.8%	9.3%
Net Income Margin	2.8%	4.3%	6.4%	9.1%	9.3%	6.0%	7.5%
Cash & Debt
Total Cash	365	538	732	659	619	574	270
Total Debt	241	234	242	238	265	303	274
Net Debt / (Cash)	-125	-304	-490	-421	-354	-272	3
Cash Flows
Net Cash from Operations	292	410	637	684	603	597	520
Free Cash from Operations	237	354	591	623	567	563	460
Returns to Shareholders
Dividends	234	220	206	189	171	156	146
Share Repurchases	173	276	255	320	288	159	278

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	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
Filing Date	10/31/2025	8/5/2025	5/2/2025	2/13/2025	10/30/2024	7/31/2024	5/2/2024	2/20/2024	10/31/2023	8/1/2023	5/3/2023	2/10/2023
Key Financials Quarterly
Total Revenue	1,354	1,370	1,352	1,382	1,465	1,473	1,476	1,473	1,564	1,639	1,716	1,727
Ebitda	33	23	60	87	83	98	63	100	166	139	158	194
Operating Income	14	2	39	64	61	76	41	67	143	118	137	174
Net Income	43	41	17	54	65	68	64	87	96	106	122	148
EPS	0.43	0.41	0.17	0.53	0.64	0.66	0.61	0.84	0.91	1.00	1.15	1.38
Key Financials TTM
Total Revenue TTM	5,458	5,569	5,672	5,796	5,886	5,985	6,152	6,393	6,647	6,916	7,140	7,238
Ebitda TTM	203	253	328	331	345	427	469	564	657	750	936	1,053
Operating Income TTM	118	165	239	241	244	327	369	465	571	666	855	975
Net Income TTM	156	178	205	252	285	315	353	411	471	542	612	658
Growth Rates Quarterly
Total Revenue Growth	-7.5%	-7.0%	-8.4%	-6.1%	-6.3%	-10.2%	-14.0%	-14.7%	-14.7%	-12.0%	-5.4%	-2.4%
EBITDA Growth	-59.8%	-76.9%	-4.6%	-13.7%	-49.9%	-29.6%	-60.0%	-48.3%	-35.8%	-57.2%	-42.6%	-11.1%
Operating Income Growth	-77.6%	-98.0%	-4.9%	-3.5%	-57.8%	-35.7%	-70.1%	-61.5%	-39.9%	-61.6%	-46.8%	-12.8%
Net Income Growth	-34.4%	-39.9%	-72.8%	-37.8%	-31.5%	-35.9%	-47.8%	-40.9%	-42.5%	-39.5%	-27.5%	-12.1%
Margins Quarterly
EBITDA Margin	2.5%	1.7%	4.5%	6.3%	5.7%	6.6%	4.3%	6.8%	10.6%	8.5%	9.2%	11.2%
Operating Income Margin	1.0%	0.1%	2.9%	4.7%	4.1%	5.1%	2.8%	4.5%	9.2%	7.2%	8.0%	10.0%
Net Income Margin	3.2%	3.0%	1.3%	3.9%	4.5%	4.6%	4.3%	5.9%	6.1%	6.5%	7.1%	8.5%
Cash & Debt
Total Cash	365	381	342	538	570	547	541	732	729	723	548	659
Total Debt	241	244	243	234	239	239	241	242	215	218	222	238
Net Debt / (Cash)	-125	-137	-100	-304	-332	-308	-300	-490	-514	-504	-326	-421
Cash Flows Quarterly
FCF from Operations	77	119	-59	155	130	142	-16	115	176	281	66	202
Cash Flows TTM
FCF from Operations TTM	292	344	367	410	370	416	555	637	725	728	680	684
Returns to Shareholders Quarterly
Dividends	59	59	61	54	54	55	58	51	51	51	54	47
Share Repurchases	21	21	50	80	49	60	86	56	94	41	63	62
Return on Invested Capital (ROIC) Quarterly
ROIC	3.2%	0.3%	10.0%	17.7%	16.0%	20.8%	11.2%	23.3%	51.8%	42.2%	41.8%	60.8%
Return on Invested Capital (ROIC) TTM
ROIC TTM	7.1%	9.9%	14.0%	16.2%	16.6%	22.5%	25.4%	39.8%	52.6%	61.6%	66.0%	86.2%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Contract talent solutions	3,895	4,533	4,039	3,477	4,412
Protiviti	1,930	1,980	1,853	1,262	1,129
Permanent placement talent solutions	567	725	570	370	533
Total	6,393	7,238	6,461	5,109	6,074

Price Behavior

Price Behavior

Market Price	$27.72
Market Cap ($ Bil)	2.8
First Trading Date	03/10/1992
Distance from 52W High	-58.7%
	50 Days	200 Days
DMA Price	$27.30	$37.07
DMA Trend	down	down
Distance from DMA	1.5%	-25.2%
	3M	1YR
Volatility	33.8%	36.3%
Downside Capture	101.97	140.31
Upside Capture	-6.66	31.42
Correlation (SPY)	27.5%	55.2%

RHI Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.27	0.91	1.01	1.27	1.05	1.05
Up Beta	-0.43	0.67	1.14	1.65	1.24	1.24
Down Beta	-1.02	1.11	1.00	1.30	0.94	0.88
Up Capture	92%	-2%	-5%	16%	23%	40%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	7	14	22	47	100	354
Down Capture	45%	150%	172%	188%	124%	106%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	12	26	39	77	147	392

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of RHI With Other Asset Classes (Last 1Y)
	RHI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-58.7%	19.3%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	36.0%	18.8%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	-2.38	0.80	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		55.1%	55.6%	-6.3%	14.2%	52.1%	26.8%

ETFs used for asset classes: Sector ETF = XLI, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of RHI With Other Asset Classes (Last 5Y)
	RHI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-12.4%	13.8%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	30.2%	17.2%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	-0.40	0.65	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		59.9%	57.4%	0.1%	15.2%	50.5%	24.9%

Based On 10-Year Data

		Comparison of RHI With Other Asset Classes (Last 10Y)
	RHI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-2.4%	13.5%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	32.1%	19.9%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.00	0.60	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		64.5%	60.0%	-7.8%	21.3%	48.8%	14.3%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	12,315,773
Short Interest: % Change Since 11302025	-5.2%
Average Daily Volume	1,857,653
Days-to-Cover Short Interest	6.63
Basic Shares Quantity	99,897,000
Short % of Basic Shares	12.3%

Returns Analyses

	Title
0	With Robert Half Stock Surging, Have You Considered The Downside?
1	RHI YTD Stock Return Of -13% Underperforms PAYC by -10% and Underperforms ADP by -19%
2	Robert Half Stock Return Comparison
3	[9/29/2021] Robert Half International (RHI) Stock Price Forecast: AI Forecasts RHI Stock Price To Be Around $104 In A Month (Up 1.6%)
4	Robert Half Total Shareholder Return (TSR): -32.3% in 2022 and 7.4% 3-yr returns (below peer average)

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/22/2025	-1.2%	-7.4%	-11.2%
7/23/2025	-6.0%	-11.7%	-15.2%
4/23/2025	-3.1%	-4.6%	-0.7%
1/29/2025	-6.6%	-10.3%	-13.7%
10/22/2024	2.8%	5.7%	10.5%
7/24/2024	-7.6%	-1.0%	-4.2%
4/25/2024	-1.8%	-1.4%	-5.0%
1/30/2024	-2.3%	-1.6%	-0.6%
...
SUMMARY STATS
# Positive	8	8	9
# Negative	15	15	14
Median Positive	3.4%	7.1%	9.1%
Median Negative	-6.0%	-5.5%	-5.2%
Max Positive	7.4%	12.5%	22.5%
Max Negative	-8.6%	-12.2%	-19.7%

	Forward Returns
10/22/2025	-1.2%	-7.4%	-11.2%
7/23/2025	-6.0%	-11.7%	-15.2%
4/23/2025	-3.1%	-4.6%	-0.7%
1/29/2025	-6.6%	-10.3%	-13.7%
10/22/2024	2.8%	5.7%	10.5%
7/24/2024	-7.6%	-1.0%	-4.2%
4/25/2024	-1.8%	-1.4%	-5.0%
1/30/2024	-2.3%	-1.6%	-0.6%
10/24/2023	2.0%	3.7%	13.7%
7/25/2023	-6.0%	-7.8%	-6.2%
4/26/2023	3.5%	-2.4%	-4.2%
1/26/2023	5.4%	9.8%	-0.8%
10/20/2022	-8.6%	-6.4%	-5.4%
7/21/2022	-6.8%	-5.5%	-1.6%
4/26/2022	-8.6%	-9.2%	-19.7%
1/27/2022	-0.6%	4.6%	8.8%
7/22/2021	7.4%	12.5%	18.0%
4/21/2021	3.3%	6.3%	6.3%
1/28/2021	4.2%	8.6%	22.5%
10/22/2020	-8.3%	-12.2%	8.3%
7/23/2020	-2.1%	-5.4%	2.8%
4/23/2020	0.6%	8.0%	9.1%
1/30/2020	-4.1%	-0.9%	-15.3%
SUMMARY STATS
# Positive	8	8	9
# Negative	15	15	14
Median Positive	3.4%	7.1%	9.1%
Median Negative	-6.0%	-5.5%	-5.2%
Max Positive	7.4%	12.5%	22.5%
Max Negative	-8.6%	-12.2%	-19.7%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10312025	10-Q 9/30/2025
6302025	8052025	10-Q 6/30/2025
3312025	5022025	10-Q 3/31/2025
12312024	2132025	10-K 12/31/2024
9302024	10302024	10-Q 9/30/2024
6302024	7312024	10-Q 6/30/2024
3312024	5022024	10-Q 3/31/2024
12312023	2202024	10-K 12/31/2023
9302023	10312023	10-Q 9/30/2023
6302023	8012023	10-Q 6/30/2023
3312023	5032023	10-Q 3/31/2023
12312022	2102023	10-K 12/31/2022
9302022	10282022	10-Q 9/30/2022
6302022	8032022	10-Q 6/30/2022
3312022	5042022	10-Q 3/31/2022
12312021	2142022	10-K 12/31/2021

Insider Activity

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	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Kempthorne Dirk A		10292025	Sell	28.87	6,505	187,812	338,148	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Robert Half (RHI)

Market Price (12/28/2025): $27.72 | Market Cap: $2.8 BilSector: Industrials | Industry: Human Resource & Employment Services

Robert Half (RHI)

Market Price (12/28/2025): $27.72Market Cap: $2.8 BilSector: IndustrialsIndustry: Human Resource & Employment Services

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

Valuation, Metrics & Events

RHI Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Robert Half (RHI)

Staffing Services

Consulting and Business Solutions

Addressable Markets for Robert Half's Main Products and Services:

Staffing Services (Temporary and Permanent Placement)

Consulting Solutions (Management Consulting and IT Consulting)

Share Repurchases

Share Issuance

Inbound Investments

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Robert Half (RHI)

INDUSTRY: Human Resource & Employment Services

Higher Rev Chg 3Y Avg | Lower P/S (Values for RHI: -9.1% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RHI: -9.1% | 23.4x)

Higher Rev Chg LTM (Value for RHI: -7.3%)

Higher Rev Chg 3Y Avg (Value for RHI: -9.1%)

Higher Op Mgn LTM (Value for RHI: 2.2%)

Higher CFO/Rev LTM (Value for RHI: 5.4%)

Higher FCF/Rev LTM (Value for RHI: 4.3%)

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for RHI: -9.1% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RHI: -9.1% | 23.4x)

Higher Rev Chg LTM (Value for RHI: -7.3%)

Higher Rev Chg 3Y Avg (Value for RHI: -9.1%)

Higher Op Mgn LTM (Value for RHI: 2.2%)

Higher CFO/Rev LTM (Value for RHI: 5.4%)

Higher FCF/Rev LTM (Value for RHI: 4.3%)

Higher Total Yield (Value for RHI: 14.1%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for RHI: -9.1% | 0.5x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for RHI: -9.1% | 23.4x)

Higher Rev Chg LTM (Value for RHI: -7.3%)

Higher Rev Chg 3Y Avg (Value for RHI: -9.1%)

Higher Op Mgn LTM (Value for RHI: 2.2%)

Higher CFO/Rev LTM (Value for RHI: 5.4%)

Higher FCF/Rev LTM (Value for RHI: 4.3%)

Higher Total Yield (Value for RHI: 14.1%)

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Valuation

Market Price (12/28/2025): $27.72 | Market Cap: $2.8 Bil
Sector: Industrials | Industry: Human Resource & Employment Services

Market Price (12/28/2025): $27.72
Market Cap: $2.8 Bil
Sector: Industrials
Industry: Human Resource & Employment Services