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U.S. HR Services Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies42
  • 7D-2.3%
  • 3M-22.4%
  • 1Y-36.2%
  • YTDn/a

Last week, the HR Services industry hasn't moved much but Robert Half is up 8.2% in that time. As for the longer term, the industry has declined 34% in the last year. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026US$151.8bUS$80.2bUS$4.0b17.8x37.8x1.9x
Fri, 20 Feb 2026US$157.4bUS$80.2bUS$4.8b20x32.6x2x
Sun, 18 Jan 2026US$203.3bUS$86.5bUS$5.0b22x40.7x2.4x
Tue, 16 Dec 2025US$209.0bUS$86.2bUS$5.0b20.7x41.7x2.4x
Thu, 13 Nov 2025US$203.9bUS$87.3bUS$5.0b20.2x40.9x2.3x
Sat, 11 Oct 2025US$227.7bUS$86.6bUS$6.3b27.5x36.2x2.6x
Mon, 08 Sep 2025US$240.3bUS$86.9bUS$6.2b29.4x38.8x2.8x
Wed, 06 Aug 2025US$239.6bUS$86.4bUS$6.1b26.5x39.4x2.8x
Fri, 04 Jul 2025US$237.1bUS$79.8bUS$6.7b31.4x35.3x3x
Sun, 01 Jun 2025US$249.4bUS$79.7bUS$6.8b32.7x36.6x3.1x
Tue, 29 Apr 2025US$227.7bUS$78.9bUS$6.9b23.6x33.2x2.9x
Thu, 27 Mar 2025US$238.7bUS$80.1bUS$6.7b28x35.5x3x
Sat, 22 Feb 2025US$246.8bUS$79.8bUS$6.8b23.2x36x3.1x
Mon, 20 Jan 2025US$247.5bUS$85.7bUS$6.7b24.9x37x2.9x
Wed, 18 Dec 2024US$249.1bUS$85.7bUS$6.7b26x37.3x2.9x
Fri, 15 Nov 2024US$256.0bUS$85.7bUS$6.6b26.9x38.7x3x
Sun, 13 Oct 2024US$230.9bUS$81.4bUS$6.2b29.4x37.2x2.8x
Tue, 10 Sep 2024US$220.9bUS$81.4bUS$6.2b22.8x35.6x2.7x
Thu, 08 Aug 2024US$210.1bUS$81.5bUS$6.2b21.4x33.9x2.6x
Sat, 06 Jul 2024US$201.8bUS$86.6bUS$6.6b20.5x30.8x2.3x
Mon, 03 Jun 2024US$208.9bUS$87.6bUS$6.5b21.8x32.3x2.4x
Wed, 01 May 2024US$219.2bUS$91.7bUS$6.4b22.6x34.3x2.4x
Fri, 29 Mar 2024US$223.3bUS$87.4bUS$6.3b24.4x35.3x2.6x
Sun, 25 Feb 2024US$225.7bUS$87.3bUS$6.4b26.9x35.4x2.6x
Tue, 23 Jan 2024US$218.7bUS$87.3bUS$6.4b27.1x34.4x2.5x
Thu, 21 Dec 2023US$221.1bUS$87.2bUS$6.3b27.4x34.9x2.5x
Sat, 18 Nov 2023US$207.7bUS$87.2bUS$5.8b25.3x35.5x2.4x
Mon, 16 Oct 2023US$229.4bUS$92.1bUS$6.3b19.7x36.4x2.5x
Wed, 13 Sep 2023US$231.7bUS$92.0bUS$6.3b20.6x37x2.5x
Fri, 11 Aug 2023US$237.5bUS$92.0bUS$6.2b20.1x38.3x2.6x
Sun, 09 Jul 2023US$219.6bUS$91.8bUS$6.3b15.9x34.9x2.4x
Tue, 06 Jun 2023US$214.6bUS$91.8bUS$6.3b15.8x34x2.3x
Thu, 04 May 2023US$211.5bUS$91.5bUS$6.3b13x33.8x2.3x
Sat, 01 Apr 2023US$180.2bUS$87.4bUS$6.0b13.1x29.8x2.1x
Price to Earnings Ratio

29.8x


Total Market Cap: US$180.2bTotal Earnings: US$6.0bTotal Revenue: US$87.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35.7x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Human Resource and Employment Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 35.7x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have declined 13% per year over the last three years,
  • Revenues have also declined 2.8% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

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

US Market-2.29%
Industrials-1.23%
Professional Services-2.87%
HR Services-2.27%
Research and Consulting Services-2.29%
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
RHI Robert HalfUS$24.558.2%
+US$185.9m		-54.1%PE18.3x
NSP InsperityUS$26.5412.9%
+US$114.3m		-69.8%PS0.1x
FA First AdvantageUS$11.134.2%
+US$78.4m		-20.6%PS1.2x
KFY Korn FerryUS$62.692.3%
+US$74.2m		-7.9%PE12.3x
MAN ManpowerGroupUS$27.875.5%
+US$67.3m		-51.8%PS0.07x

Latest News

TNET
US$37.94
TriNet Group
7D
0.8%
1Y
-51.6%
FVRR
US$10.03
Fiverr International
7D
-8.7%
1Y
-62.2%
KFY
US$62.69
Korn Ferry
7D
2.3%
1Y
-7.9%
BZ
US$13.26
Kanzhun
7D
-8.9%
1Y
-33.4%
RHI
US$24.55
Robert Half
7D
8.2%
1Y
-54.1%

RHI: Cost Actions And Limited AI Risk Will Shape Future Performance

Robert Half's updated analyst price target moves lower to $22, reflecting an $11 reset as analysts factor in a higher discount rate, slightly different revenue expectations, reduced profit margin assumptions, and recent Street research that trims targets after cost actions and revised profitability ramps, even as some highlight relatively limited AI disruption risk. Analyst Commentary Recent research paints a mixed picture, with several firms trimming price targets and flagging execution risks, even as others adjust targets higher.
NSP
US$26.54
Insperity
7D
12.9%
1Y
-69.8%

NSP: HR Partnership And Earnings Outlook Will Support Future Upside Potential

Analysts have nudged their price target for Insperity slightly higher to $56.00, reflecting updated assumptions around the discount rate, revenue growth, profit margins, and future P/E that collectively suggest a modestly improved outlook for the shares. What's in the News Insperity and Workday announced the general availability of Insperity HRScale, combining Insperity's PEO model and HR services with the Workday Human Capital Management suite to offer small and midsized businesses an integrated HR, payroll, and workforce analytics platform (Client Announcements).
FA
US$11.13
First Advantage
7D
4.2%
1Y
-20.6%

FA: Share Repurchases And 2026 Guidance Will Support Future Earnings Upside

Analysts have revised their 12 month price target for First Advantage to $15.00 from $17.57, reflecting updated assumptions for revenue growth, profit margins, and future P/E multiples. What's in the News First Advantage issued full year 2026 earnings guidance, with expected revenue in the range of US$1.625b to US$1.7b (company guidance).
UPWK
US$11.15
Upwork
7D
-9.7%
1Y
-19.8%
MAN
US$27.87
ManpowerGroup
7D
5.5%
1Y
-51.8%

MAN: AI Hiring Partnership Will Support Future Cash Returns

Analysts are keeping their $50.00 price target for ManpowerGroup unchanged. They cite updated assumptions around a slightly higher discount rate, modestly different revenue growth and profit margin expectations, and a small adjustment to the forward P/E multiple that together support maintaining their prior valuation view.
BBSI
US$29.17
Barrett Business Services
7D
2.2%
1Y
-29.4%
KFRC
US$27.74
Kforce
7D
6.0%
1Y
-42.9%

KFRC: Higher P/E Expectations And Capital Returns Will Support Future Share Price Upside

Analysts have raised their fair value estimate for Kforce by $2.13 to $39.00, citing updated assumptions around revenue growth, profit margins, discount rates, and future P/E multiples. These changes bring their view closer to recent Street price target moves from firms such as Baird, UBS, and Truist.
ALIT
US$0.64
Alight
7D
-13.1%
1Y
-89.6%

ALIT: Higher Margins And Execution Improvements Will Support Future Share Recovery

Analysts have sharply reduced Alight's average price targets, with changes from $6.50 to $1, $5 to $3, $6 to $2.50, and $1.40 to $0.50, while one fair value estimate is maintained around $2.70. These revisions reflect concerns about weaker renewals, softer project activity, margin pressure from growth investments, and limited near term visibility after recent earnings and guidance updates.
PAYX
US$90.61
Paychex
7D
-2.0%
1Y
-37.1%

AI Adoption And HCM Data Scale Will Reshape This Payroll Leader’s Long-Term Potential

Catalysts About Paychex Paychex provides payroll, HR, benefits and HCM technology solutions to small and midsize businesses across its Paychex Flex, SurePayroll and Paycor platforms. What are the underlying business or industry changes driving this perspective?
ADP
US$204.89
Automatic Data Processing
7D
-2.3%
1Y
-31.6%

ADP: Dividend Strength And AI HR Execution Will Support Premium P/E

Analysts have trimmed their average price target on Automatic Data Processing by about $5 to $272. This reflects slightly softer revenue growth assumptions, a modestly higher discount rate, and only a small adjustment to long term P/E expectations, despite relatively steady margin forecasts.
PAYC
US$118.96
Paycom Software
7D
-5.5%
1Y
-46.8%

PAYC: Early 2026 Buybacks And Governance Changes Will Support Future Upside

Analyst fair value for Paycom has been revised slightly higher to $152.94 from $151.18, as analysts factor in the recent $135 and $150 price target increases and highlight the company's sizable early 2026 buyback activity as a sign of management confidence at current share levels. Analyst Commentary Analysts are reacting to Paycom's recent buyback activity and past target cuts with a mix of cautious optimism and lingering concern, which is showing up in a wide range of valuation views.
PCTY
US$108.31
Paylocity Holding
7D
-2.2%
1Y
-44.4%

PCTY: 2026 Software Setup And Buybacks Will Support Upside Potential

Analyst price targets for Paylocity Holding have been reset lower, with a series of cuts ranging from $5 to $75 as analysts factor updated macro assumptions, sector-wide software rerating, and company specific expectations into their models. Analyst Commentary Despite the latest round of lower price targets, some bullish analysts are still highlighting areas where they see potential upside for Paylocity, particularly around execution and the setup for software over the next couple of years.