ManpowerGroup Inc.

NYSE:MAN Stock Report

Market Cap: US$2.0b

ManpowerGroup Valuation

Is MAN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MAN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
US$204.72
Fair Value
78.9% undervalued intrinsic discount
9
Number of Analysts

Below Fair Value: MAN ($43.25) is trading below our estimate of fair value ($204.72)

Significantly Below Fair Value: MAN is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MAN?

Key metric: As MAN is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MAN. This is calculated by dividing MAN's market cap by their current revenue.
What is MAN's PS Ratio?
PS Ratio0.1x
SalesUS$17.54b
Market CapUS$2.00b

Price to Sales Ratio vs Peers

How does MAN's PS Ratio compare to its peers?

The above table shows the PS ratio for MAN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.1x
NSP Insperity
0.3x5.26%US$2.1b
ALIT Alight
1.2x3.60%US$2.9b
UPWK Upwork
2.3x4.89%US$1.7b
TNET TriNet Group
0.6x-66.09%US$3.1b
MAN ManpowerGroup
0.1x3.41%US$2.0b

Price-To-Sales vs Peers: MAN is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

How does MAN's PS Ratio compare vs other companies in the US Professional Services Industry?

29 CompaniesPrice / SalesEstimated GrowthMarket Cap
Industry Avg.1.3x6.3%
MAN ManpowerGroup
 0.1x3.41%US$2.00b
CNXC Concentrix
0.4x2.98%US$3.68b
NSP Insperity
0.3x5.26%US$2.13b
MAN 0.1xIndustry Avg. 1.3xNo. of Companies29PS01.63.24.86.48+
29 CompaniesEstimated GrowthMarket Cap
Industry Avg.1.3x15.6%
MAN ManpowerGroup
 0.1x99.30%US$2.00b
No more companies

Price-To-Sales vs Industry: MAN is good value based on its Price-To-Sales Ratio (0.1x) compared to the US Professional Services industry average (1.3x).

Price to Sales Ratio vs Fair Ratio

What is MAN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MAN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.1x
Fair PS Ratio0.8x

Price-To-Sales vs Fair Ratio: MAN is good value based on its Price-To-Sales Ratio (0.1x) compared to the estimated Fair Price-To-Sales Ratio (0.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MAN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$43.25
US$49.22
+13.81%
7.83%US$55.00US$41.00n/a9
Jul ’26US$42.36
US$48.11
+13.58%
11.78%US$60.00US$41.00n/a9
Jun ’26US$41.95
US$48.11
+14.69%
11.78%US$60.00US$41.00n/a9
May ’26US$42.72
US$51.70
+21.02%
18.79%US$70.00US$41.00n/a10
Apr ’26US$58.65
US$65.20
+11.17%
12.53%US$78.00US$49.00n/a10
Mar ’26US$57.63
US$65.10
+12.96%
12.47%US$78.00US$49.00n/a10
Feb ’26US$60.22
US$65.40
+8.60%
12.70%US$78.00US$49.00n/a10
Jan ’26US$57.72
US$71.10
+23.18%
9.77%US$82.00US$56.00n/a10
Dec ’25US$64.37
US$70.50
+9.52%
9.35%US$82.00US$56.00n/a10
Nov ’25US$63.30
US$70.50
+11.37%
9.35%US$82.00US$56.00n/a10
Oct ’25US$72.62
US$78.00
+7.41%
9.08%US$90.00US$68.00n/a10
Sep ’25US$73.92
US$76.82
+3.92%
10.05%US$90.00US$65.00n/a11
Aug ’25US$74.34
US$77.55
+4.31%
10.75%US$90.00US$65.00n/a11
Jul ’25US$69.44
US$78.45
+12.98%
11.31%US$90.00US$65.00US$42.3611
Jun ’25US$74.62
US$76.91
+3.07%
10.64%US$90.00US$65.00US$41.9511
May ’25US$75.17
US$76.91
+2.31%
10.64%US$90.00US$65.00US$42.7211
Apr ’25US$75.51
US$76.55
+1.37%
11.06%US$90.00US$65.00US$58.6511
Mar ’25US$73.31
US$76.55
+4.41%
11.06%US$90.00US$65.00US$57.6311
Feb ’25US$74.14
US$77.08
+3.97%
10.77%US$90.00US$65.00US$60.2212
Jan ’25US$79.47
US$75.92
-4.47%
12.50%US$90.00US$55.00US$57.7212
Dec ’24US$75.87
US$75.33
-0.71%
12.02%US$90.00US$55.00US$64.3712
Nov ’24US$69.60
US$78.31
+12.51%
15.47%US$102.00US$55.00US$63.3013
Oct ’24US$73.32
US$85.46
+16.56%
14.58%US$109.00US$62.00US$72.6213
Sep ’24US$79.38
US$84.88
+6.93%
13.79%US$106.00US$62.00US$73.9213
Aug ’24US$78.44
US$84.81
+8.11%
13.25%US$106.00US$62.00US$74.3413
Jul ’24US$79.40
US$82.19
+3.51%
14.17%US$102.00US$67.00US$69.4413
AnalystConsensusTarget
Consensus Narrative from 9 Analysts
US$49.22
Fair Value
12.1% undervalued intrinsic discount
9
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/20 21:57
End of Day Share Price 2025/07/18 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

ManpowerGroup Inc. is covered by 30 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jasper HellwegArgus Research Company
Mark MarconBaird
Gary BisbeeBarclays