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U.S. HR Services Industry Analysis

UpdatedJan 21, 2026
DataAggregated Company Financials
Companies45
  • 7D-1.6%
  • 3M-11.2%
  • 1Y-20.2%
  • YTDn/a

Over the last 7 days, the HR Services industry has dropped 1.6%, driven by declines in Paychex and Automatic Data Processing of 2.0% and 0.8%, respectively. However, the industry is down 20% over the past year. 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
Thu, 22 Jan 2026US$203.3bUS$86.5bUS$5.0b21.6x40.7x2.4x
Sat, 20 Dec 2025US$207.1bUS$86.5bUS$5.0b20.4x41.5x2.4x
Mon, 17 Nov 2025US$202.3bUS$87.4bUS$5.0b20.1x40.5x2.3x
Wed, 15 Oct 2025US$226.9bUS$86.6bUS$6.3b27.8x36.1x2.6x
Fri, 12 Sep 2025US$236.3bUS$86.4bUS$6.3b29.5x37.3x2.7x
Sun, 10 Aug 2025US$241.3bUS$86.7bUS$6.1b28.9x39.3x2.8x
Tue, 08 Jul 2025US$236.7bUS$79.8bUS$6.7b31.3x35.2x3x
Thu, 05 Jun 2025US$250.1bUS$79.7bUS$6.8b33x36.7x3.1x
Sat, 03 May 2025US$231.2bUS$79.3bUS$6.9b23.7x33.5x2.9x
Mon, 31 Mar 2025US$240.5bUS$80.1bUS$6.7b27.8x35.8x3x
Wed, 26 Feb 2025US$248.8bUS$79.8bUS$6.8b23.8x36.3x3.1x
Fri, 24 Jan 2025US$247.3bUS$85.7bUS$6.7b24.8x37x2.9x
Sun, 22 Dec 2024US$243.6bUS$85.7bUS$6.7b23.8x36.4x2.8x
Tue, 19 Nov 2024US$247.4bUS$85.7bUS$6.6b26x37.4x2.9x
Thu, 17 Oct 2024US$234.5bUS$81.4bUS$6.2b24.5x37.7x2.9x
Sat, 14 Sep 2024US$223.6bUS$81.4bUS$6.2b25.7x36x2.7x
Mon, 12 Aug 2024US$210.8bUS$81.4bUS$6.2b21.5x33.9x2.6x
Wed, 10 Jul 2024US$199.4bUS$86.6bUS$6.6b20x30.4x2.3x
Fri, 07 Jun 2024US$209.2bUS$87.6bUS$6.5b21.8x32.3x2.4x
Sun, 05 May 2024US$214.7bUS$87.9bUS$6.5b23.3x33.2x2.4x
Tue, 02 Apr 2024US$224.8bUS$87.4bUS$6.3b23.9x35.5x2.6x
Thu, 29 Feb 2024US$223.4bUS$87.3bUS$6.4b27x35.1x2.6x
Sat, 27 Jan 2024US$216.9bUS$87.3bUS$6.4b26.7x33.7x2.5x
Mon, 25 Dec 2023US$216.1bUS$87.3bUS$6.4b27x33.9x2.5x
Wed, 22 Nov 2023US$209.1bUS$87.2bUS$5.8b25.3x35.7x2.4x
Fri, 20 Oct 2023US$228.2bUS$92.0bUS$6.2b20.1x36.7x2.5x
Sun, 17 Sep 2023US$224.6bUS$88.7bUS$6.5b20.8x34.6x2.5x
Tue, 15 Aug 2023US$238.5bUS$92.0bUS$6.2b20.4x38.5x2.6x
Thu, 13 Jul 2023US$228.2bUS$91.8bUS$6.3b16.1x36.2x2.5x
Sat, 10 Jun 2023US$216.6bUS$91.8bUS$6.3b16.6x34.4x2.4x
Mon, 08 May 2023US$207.5bUS$91.7bUS$6.3b13.9x32.7x2.3x
Wed, 05 Apr 2023US$174.0bUS$87.4bUS$6.0b12.7x28.8x2x
Fri, 03 Mar 2023US$48.5bUS$65.3bUS$1.4b13.4x33.5x0.7x
Sun, 29 Jan 2023US$47.1bUS$64.0bUS$1.9b13.1x24.7x0.7x
Price to Earnings Ratio

24.7x


Total Market Cap: US$47.1bTotal Earnings: US$1.9bTotal Revenue: US$64.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35.3x202420252026
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 40.7x which is higher than its 3-year average PE of 35.3x.
  • 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 38% 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-2.00%
Industrials-0.33%
Professional Services-2.00%
HR Services-1.55%
Research and Consulting Services-2.22%
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
NSP InsperityUS$47.053.3%
+US$56.6m		-40.5%PE104.4x
YOUL Youlife GroupUS$1.8160.2%
+US$51.7m		n/aPS0.6x
TNET TriNet GroupUS$62.871.2%
+US$35.5m		-33.3%PE22.7x
KFRC KforceUS$34.752.7%
+US$15.9m		-37.8%PE14.7x
TBI TrueBlueUS$5.357.4%
+US$11.1m		-31.4%PS0.1x

Latest News

PAYC
US$149.18
Paycom Software
7D
-3.5%
1Y
-28.1%
TBI
US$5.35
TrueBlue
7D
7.4%
1Y
-31.4%
PAYX
US$107.19
Paychex
7D
-2.8%
1Y
-26.0%
UPWK
US$19.72
Upwork
7D
-1.9%
1Y
23.0%

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$34.75
Kforce
7D
2.7%
1Y
-37.8%

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).
ADP
US$256.99
Automatic Data Processing
7D
-0.6%
1Y
-13.3%
YOUL
US$1.81
Youlife Group
7D
60.2%
1Y
n/a
KFY
US$67.80
Korn Ferry
7D
0.2%
1Y
-3.8%
DAY
US$69.10
Dayforce
7D
-0.4%
1Y
-1.1%

DAY: Merger Vote And Buybacks Will Shape A Balanced Risk Profile

Analysts have lifted their price target on Dayforce from US$47.00 to about US$69.36, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E multiples as key drivers of the change. What's in the News Dayforce issued proxy materials for a November 12, 2025 special meeting where shareholders are being asked to vote on a proposed merger with funds affiliated with Thoma Bravo, L P.
PCTY
US$140.47
Paylocity Holding
7D
0.04%
1Y
-29.0%

PCTY: Beat And Raise Cadence Will Support Long Term Capital Appreciation

Analysts have made a slight adjustment to their Paylocity fair value estimate to $193.85, reflecting updated assumptions for interest rates, earnings multiples, and recent research that includes both higher and lower price targets across firms. Analyst Commentary Recent research on Paylocity reflects a mix of optimism on execution and caution around the operating backdrop, with price targets clustering between US$175 and US$245 compared with the updated fair value estimate of US$193.85.
NSP
US$47.05
Insperity
7D
3.3%
1Y
-40.5%

Investors Still Aren't Entirely Convinced By Insperity, Inc.'s (NYSE:NSP) Revenues Despite 28% Price Jump

Jan 09
Investors Still Aren't Entirely Convinced By Insperity, Inc.'s (NYSE:NSP) Revenues Despite 28% Price Jump
TNET
US$62.87
TriNet Group
7D
1.2%
1Y
-33.3%

TNET: AI HR Capabilities And Buybacks Will Support Future Earnings Upside

Analysts slightly reduced their price target on TriNet Group by about $2 to roughly $70, reflecting small tweaks to fair value, discount rate, profit margin assumptions, and a modestly higher future P/E multiple in their models. What's in the News Completed a share repurchase tranche, buying 481,649 shares (0.99% of outstanding shares) for $31.5 million between July 1 and September 30, 2025.
FA
US$14.33
First Advantage
7D
-3.6%
1Y
-22.8%

FA: Refined 2025 Guidance And Synergies Will Support Earnings Upside

Analysts have maintained their price target for First Advantage broadly in line with prior views at about US$17.57. Small adjustments to inputs such as the discount rate and assumed future P/E reflect updated risk and valuation assumptions rather than a major change in outlook.
FVRR
US$15.70
Fiverr International
7D
-9.1%
1Y
-51.0%

FVRR: Higher Margins And Earnings Profile Will Support Bullish Repricing

Analysts have nudged their price target on Fiverr International higher to US$41.34 from US$41.34, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. Analyst Commentary Bullish analysts are pointing to Fiverr International's updated price target of US$41.34 as a sign of confidence in the company’s ability to execute against current expectations for revenue, margins and future P/E.
BZ
US$18.95
Kanzhun
7D
-3.3%
1Y
29.7%

BZ: Rising Future P/E Will Support Bullish View On Shares

Analysts now see higher upside in Kanzhun, lifting their fair value estimate from about US$27.14 to roughly US$28.69 as they factor in updated assumptions for discount rates, revenue growth, profit margins, and a higher future P/E multiple. What's in the News Chief Financial Officer Phil Yu Zhang plans to resign from Kanzhun, effective December 11, 2025, and Vice President Wenbei Wang has been appointed Deputy Chief Financial Officer, adding responsibilities alongside her investor relations role (Key Developments).
HQI
US$11.43
HireQuest
7D
7.2%
1Y
-15.3%