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U.S. HR Services Industry Analysis

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies45
  • 7D-1.0%
  • 3M-9.3%
  • 1Y-19.1%
  • YTDn/a

The HR Services is pretty flat in the last 7 days, but Paylocity Holding has stood out, gaining 4.1%. Unfortunately though, the industry is down 19% over the past 12 months. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

Has the U.S. HR Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 26 Jan 2026US$201.3bUS$86.5bUS$5.0b22.3x40.3x2.3x
Wed, 24 Dec 2025US$205.0bUS$86.5bUS$5.0b20.1x41x2.4x
Fri, 21 Nov 2025US$199.4bUS$87.4bUS$5.0b19.4x39.6x2.3x
Sun, 19 Oct 2025US$224.1bUS$86.7bUS$6.3b27.5x35.6x2.6x
Tue, 16 Sep 2025US$237.2bUS$86.4bUS$6.3b28.8x37.4x2.7x
Thu, 14 Aug 2025US$235.9bUS$86.8bUS$6.1b30x38.4x2.7x
Sat, 12 Jul 2025US$236.7bUS$79.8bUS$6.7b31x35.2x3x
Mon, 09 Jun 2025US$251.4bUS$79.7bUS$6.8b33.1x36.9x3.2x
Wed, 07 May 2025US$233.9bUS$79.3bUS$6.9b23.4x33.8x2.9x
Fri, 04 Apr 2025US$245.3bUS$80.1bUS$6.7b27.6x36.5x3.1x
Sun, 02 Mar 2025US$249.7bUS$80.0bUS$6.7b23.2x37.1x3.1x
Tue, 28 Jan 2025US$248.5bUS$85.7bUS$6.7b25x37.2x2.9x
Thu, 26 Dec 2024US$245.8bUS$85.7bUS$6.7b23.9x36.7x2.9x
Sat, 23 Nov 2024US$252.6bUS$85.7bUS$6.6b27.4x38.3x2.9x
Mon, 21 Oct 2024US$234.4bUS$81.2bUS$6.2b28.6x37.8x2.9x
Wed, 18 Sep 2024US$224.9bUS$81.4bUS$6.2b25.6x36.3x2.8x
Fri, 16 Aug 2024US$211.2bUS$81.4bUS$6.2b22.6x33.9x2.6x
Sun, 14 Jul 2024US$203.9bUS$86.6bUS$6.6b21x31.1x2.4x
Tue, 11 Jun 2024US$209.7bUS$87.6bUS$6.5b21.1x32.4x2.4x
Thu, 09 May 2024US$217.6bUS$87.8bUS$6.4b24.2x33.8x2.5x
Sat, 06 Apr 2024US$218.8bUS$87.5bUS$6.4b23.5x34.4x2.5x
Mon, 04 Mar 2024US$223.1bUS$87.3bUS$6.3b26.6x35.4x2.6x
Wed, 31 Jan 2024US$217.5bUS$86.4bUS$6.3b27.1x34.6x2.5x
Fri, 29 Dec 2023US$216.6bUS$87.3bUS$6.4b26.4x34x2.5x
Sun, 26 Nov 2023US$210.5bUS$87.2bUS$5.9b24.2x35.9x2.4x
Tue, 24 Oct 2023US$223.1bUS$92.0bUS$6.2b19.7x35.9x2.4x
Thu, 21 Sep 2023US$221.8bUS$88.7bUS$6.5b19.8x34.2x2.5x
Sat, 19 Aug 2023US$232.9bUS$92.0bUS$6.2b20.5x37.6x2.5x
Mon, 17 Jul 2023US$233.4bUS$91.8bUS$6.3b16.6x37x2.5x
Wed, 14 Jun 2023US$222.3bUS$91.8bUS$6.3b16.6x35.3x2.4x
Fri, 12 May 2023US$203.7bUS$91.8bUS$6.3b14.9x32.6x2.2x
Sun, 09 Apr 2023US$173.6bUS$87.4bUS$6.0b13x28.8x2x
Tue, 07 Mar 2023US$48.8bUS$65.3bUS$1.4b13.6x34x0.7x
Thu, 02 Feb 2023US$47.7bUS$63.4bUS$1.8b13.2x25.9x0.8x
Price to Earnings Ratio

25.9x


Total Market Cap: US$47.7bTotal Earnings: US$1.8bTotal Revenue: US$63.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35.4x202420252026
Current Industry PE
  • Investors are optimistic on the American Human Resource and Employment Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 40.3x which is higher than its 3-year average PE of 35.4x.
  • The industry is trading close to its 3-year average PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have grown 39% per year over the last three years.
  • Revenues for these companies have grown 11% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.S. HR Services compare with similar industries?

US Market-0.36%
Industrials-1.53%
Professional Services-1.57%
HR Services-0.97%
Research and Consulting Services-1.95%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PCTY Paylocity HoldingUS$145.864.1%
+US$313.2m		-28.9%PE35.2x
UPWK UpworkUS$22.1111.3%
+US$292.7m		31.5%PE11.7x
PAYC Paycom SoftwareUS$152.292.6%
+US$213.0m		-28.5%PE18.5x
DAY DayforceUS$69.420.4%
+US$41.6m		-4.0%PS5.9x
YOUL Youlife GroupUS$1.4556.7%
+US$39.9m		n/aPS0.4x

Latest News

DAY
US$69.42
Dayforce
7D
0.4%
1Y
-4.0%

DAY: Merger Vote And Share Buybacks Will Support A Balanced Outlook

Analysts have raised their price targets on Dayforce to reflect updated assumptions, including slightly lower discount rates, modestly stronger revenue growth near 10.74%, a profit margin view around 11.86%, and a projected P/E closer to 45.87x. Together, these inputs support a refined fair value estimate of approximately $69.36.
PCTY
US$145.86
Paylocity Holding
7D
4.1%
1Y
-28.9%

PCTY: Beat And Raise Cadence Will Support Long Term Upside Potential

Narrative Update on Paylocity Holding Analysts have trimmed their fair value estimate for Paylocity Holding by about $1.66 to $192.19. This reflects a mix of lowered and raised price targets as they update assumptions on discount rates, long term margins, and future P/E multiples in light of recent sector outlooks and company specific research.
PAYC
US$152.29
Paycom Software
7D
2.6%
1Y
-28.5%
RHI
US$28.57
Robert Half
7D
0.8%
1Y
-59.3%

RHI: Ongoing Share Repurchases Will Support Fair Value Despite Softer Outlook

Analysts have trimmed their price target for Robert Half to about $30.67 from roughly $30.78, citing slightly higher discount rate assumptions, modestly softer revenue growth expectations, a small improvement in profit margin, and a marginally lower future P/E estimate. What's in the News From July 1, 2025 to September 30, 2025, Robert Half repurchased 573,650 shares for US$20.21 million, representing 0.57% of the company.
BZ
US$19.26
Kanzhun
7D
-0.05%
1Y
29.3%

Kanzhun (NASDAQ:BZ) Shareholders Will Want The ROCE Trajectory To Continue

Jan 22
Kanzhun (NASDAQ:BZ) Shareholders Will Want The ROCE Trajectory To Continue
MAN
US$30.60
ManpowerGroup
7D
1.8%
1Y
-49.7%

MAN: Saudi HR Partnership Will Support Future Cash Returns

Analysts have kept their ManpowerGroup fair value estimate steady at US$48.00, with updated assumptions showing higher projected revenue growth and a higher future P/E multiple, partly offset by a lower profit margin outlook and a slightly higher discount rate. What's in the News Mahah Human Resources Company signed a brand license agreement with ManpowerGroup to operate under the global "Manpower" brand in Saudi Arabia.
FA
US$14.15
First Advantage
7D
-6.2%
1Y
-25.3%

FA: Refined 2025 Synergies Will Support Stronger Margins And Upside Potential

Narrative Update on First Advantage Analysts have held their price target for First Advantage steady at US$20.00, as they balance a lower assumed revenue growth rate of 8.95% with a higher projected profit margin of 12.05% and a more conservative future P/E of 19.73x. What's in the News First Advantage refined its full year 2025 earnings guidance, with updated ranges that have midpoints at or above the original guidance midpoint.
FVRR
US$16.16
Fiverr International
7D
-2.5%
1Y
-46.9%

FVRR: Higher Margin Potential And Updated Guidance Will Support Bullish Repricing

Narrative Update on Fiverr International Analysts have nudged their price target on Fiverr International higher to reflect updated assumptions for slightly stronger revenue growth and margin potential, offset by a modestly higher discount rate and a slightly lower future P/E multiple. Analyst Commentary Bullish analysts point to the higher price target on Fiverr International as a sign of growing confidence in the company’s ability to execute on its current strategy, even with a more conservative discount rate and a slightly lower assumed future P/E multiple.
PAYX
US$106.63
Paychex
7D
-4.1%
1Y
-28.0%
UPWK
US$22.11
Upwork
7D
11.3%
1Y
31.5%

UPWK: AI Workflows And Index Adds Will Support Long-Term Enterprise And SMB Gains

Analysts have nudged their fair value estimate for Upwork up by $1 to $23.90, citing higher published price targets, a more constructive view on the company's three year outlook and investor day growth pillars, and updated assumptions that include a modestly higher future P/E multiple and slightly lower long term revenue growth and profit margin inputs. Analyst Commentary Recent Street research on Upwork clusters around a more constructive medium term view, with higher price targets grounded in the company’s investor day messaging, Q3 execution and refreshed financial targets.
KFRC
US$34.79
Kforce
7D
2.1%
1Y
-38.9%

KFRC: Share Repurchases And Tempered Outlook Will Shape Fairly Balanced Prospects

Analysts have trimmed their price target on Kforce from US$40.00 to US$34.50, citing more cautious assumptions around revenue growth, profit margins, the discount rate and future P/E expectations. What's in the News Kforce updated its earnings guidance for the fourth quarter of 2025, with revenue estimated in a range of US$326 million to US$334 million and earnings per share projected between US$0.43 and US$0.51 (Key Developments).
ALIT
US$1.49
Alight
7D
-5.1%
1Y
-78.7%

ALIT: Reset Multiples And Profitability Focus Will Drive Future Upside Potential

Analysts have trimmed their price target on Alight to $2.50 from $6.00, citing a reset in valuation multiples after a choppy year for health care IT stocks and ongoing concerns around competition and regulation. Analyst Commentary Recent commentary highlights that, even with a lower price target, some bullish analysts still see a constructive setup for Alight, particularly around execution and how the market is valuing health care IT names after a volatile stretch.
ADP
US$257.87
Automatic Data Processing
7D
-1.0%
1Y
-14.1%
YOUL
US$1.45
Youlife Group
7D
56.7%
1Y
n/a
ASUR
US$9.19
Asure Software
7D
-8.1%
1Y
-24.9%
BBSI
US$37.53
Barrett Business Services
7D
-3.8%
1Y
-14.4%