ManpowerGroup Inc. is a global workforce solutions company that provides contingent staffing, permanent recruitment, and human resources consulting services. Headquartered in Milwaukee, Wisconsin, the company operates through its core brands: Manpower, Experis, and Talent Solutions. It serves clients across the Americas, Europe, and the Asia Pacific Middle East regions, placing millions of workers annually in administrative, industrial, and professional roles.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
17,957,100
17,853,900
18,914,500
19,827,500
Cost of Sales
14,959,500
14,767,100
15,556,500
16,255,100
Gross Profit
2,997,600
3,086,800
3,358,000
3,572,400
Selling, General & Administrative Expenses
2,847,500
2,780,800
3,102,200
2,990,700
Other Operating Expenses
88,700
—
55,100
50,000
Operating Profit
150,100
306,000
255,800
581,700
Interest Expense
(56,700)
(49,200)
(49,900)
(24,600)
Total Non-Operating Income
(56,700)
(49,200)
(49,900)
(24,600)
Income Before Provision for Income Taxes
93,400
256,800
205,900
557,100
Provision for Income Taxes
106,700
111,700
117,100
183,300
Consolidated Net Income
(13,300)
145,100
88,800
373,800
Net Income Attributable to Common Shareholders
(13,300)
145,100
88,800
373,800
Basic EPS
-0.29
3.04
1.78
7.17
Diluted EPS
-0.29
3.01
1.76
7.08
Basic Weighted Average Shares Outstanding
46,600
47,800
49,800
52,200
Diluted Weighted Average Shares Outstanding
46,600
48,300
50,400
52,800
Shares Outstanding
46,297
46,748
48,424
50,560
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
871,000
509,400
581,300
639,000
Total Cash and Cash Equivalents
871,000
509,400
581,300
639,000
Accounts Receivable
4,770,300
4,297,200
4,830,000
5,137,400
Total Trade Receivables
4,770,300
4,297,200
4,830,000
5,137,400
Other Current Assets
149,100
163,700
160,800
158,000
Total Current Assets
5,790,400
4,970,300
5,572,100
5,934,400
Net Property, Plant & Equipment
515,900
479,700
543,900
477,900
Net Intangible Assets
430,100
486,100
519,600
549,500
Goodwill
1,544,600
1,563,400
1,586,800
1,628,100
Other Long-Term Assets
879,100
701,500
607,800
540,500
Total Assets
9,160,100
8,201,000
8,830,200
9,130,400
Accounts Payable
2,721,100
2,612,900
2,723,000
2,831,400
Accrued Expenses
1,780,100
1,702,200
2,064,600
2,053,700
Short-Term Debt
625,000
23,400
12,100
26,600
Current Portion of Leases
107,400
98,600
—
—
Total Current Liabilities
5,233,600
4,437,100
4,799,700
4,911,700
Long-Term Debt
1,052,100
929,400
990,500
959,900
Leases
304,300
279,000
323,200
266,600
Other Long-Term Liabilities
509,800
428,600
482,700
534,100
Total Long-Term Liabilities
1,866,200
1,637,000
1,796,400
1,760,600
Total Liabilities
7,099,800
6,074,100
6,596,100
6,672,300
Common Stock
1,200
1,200
1,200
1,200
Treasury Stock
(4,834,300)
(4,791,400)
(4,639,800)
(4,447,900)
Additional Paid-in Capital
3,572,500
3,546,100
3,514,900
3,484,200
Accumulated Other Comprehensive Income
(412,100)
(443,000)
(466,000)
(458,700)
Retained Earnings
3,732,300
3,812,300
3,813,000
3,868,500
Total Common Shareholders' Equity
2,059,600
2,125,200
2,223,300
2,447,300
Minority Interests and Other
700
1,700
10,800
10,800
Total Shareholders' Equity
2,059,600
2,125,200
2,234,100
2,458,100
Total Liabilities and Shareholders' Equity
9,160,100
8,201,000
8,830,200
9,130,400
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(13,300)
145,100
88,800
373,800
Depreciation & Amortization
86,000
86,600
88,600
84,600
Share-Based Compensation Expense
26,300
27,300
28,700
37,600
Other Adjustments
66,200
(15,200)
43,400
67,000
Changes in Trade Receivables
(142,300)
261,100
391,800
28,800
Changes in Accounts Payable
(42,500)
15,700
(144,700)
(80,900)
Changes in Other Operating Activities
(84,500)
(211,400)
(148,400)
(87,600)
Cash from Operating Activities
(104,100)
309,200
348,200
423,300
Capital Expenditure
(57,300)
(51,100)
(78,200)
(75,600)
Proceeds from Sale of Property, Plant & Equipment
1,200
2,400
4,100
6,700
Payments for Business Acquisitions
(1,000)
(4,900)
—
(16,400)
Proceeds from Business Divestments
(2,100)
(14,600)
—
—
Cash from Investing Activities
(59,200)
(68,200)
(74,100)
(85,300)
Net Issuance / (Repayments) of Short-Term Debt
14,400
14,000
(12,800)
(67,800)
Issuance of Long-Term Debt
586,800
3,700
1,000
421,300
Repayments of Long-Term Debt
(700)
(1,600)
(4,400)
(412,200)
Net Issuance / (Repayments) of Long-Term Debt
586,100
2,100
(3,400)
9,100
Issuance of Common Shares
—
800
1,800
300
Repurchases of Common Shares
(44,400)
(150,500)
(190,200)
(278,500)
Net Issuance / (Repurchases) of Common Shares
(44,400)
(149,700)
(188,400)
(278,200)
Common Share Dividends Paid
(66,700)
(145,800)
(144,300)
(139,900)
Other Financing Activities
(3,900)
(3,000)
(600)
(5,300)
Cash from Financing Activities
485,500
(282,400)
(349,500)
(482,100)
Effect of Exchange Rate Changes on Cash and Cash Equivalents
39,400
(30,500)
17,700
(64,700)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash