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U.S. HR Services Industry Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies46
  • 7D-3.4%
  • 3M-6.6%
  • 1Y-22.8%
  • YTDn/a

Over the last 7 days, the HR Services industry has dropped 3.4%, driven by Automatic Data Processing declining 3.5%. However, the industry is down 23% 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, 29 Jan 2026US$196.2bUS$86.8bUS$5.1b21.1x38.5x2.3x
Sat, 27 Dec 2025US$205.2bUS$86.5bUS$5.0b20.7x41.1x2.4x
Mon, 24 Nov 2025US$201.9bUS$87.4bUS$5.0b19.6x40.1x2.3x
Wed, 22 Oct 2025US$225.4bUS$86.7bUS$6.3b28.1x35.8x2.6x
Fri, 19 Sep 2025US$234.5bUS$86.4bUS$6.3b28.7x37x2.7x
Sun, 17 Aug 2025US$238.4bUS$86.8bUS$6.2b29.4x38.7x2.7x
Tue, 15 Jul 2025US$230.9bUS$79.8bUS$6.7b25.2x34.4x2.9x
Thu, 12 Jun 2025US$243.8bUS$79.7bUS$6.8b31.7x35.8x3.1x
Sat, 10 May 2025US$238.7bUS$79.7bUS$6.9b27.3x34.8x3x
Mon, 07 Apr 2025US$226.4bUS$80.1bUS$6.7b25.8x33.7x2.8x
Wed, 05 Mar 2025US$250.3bUS$80.0bUS$6.7b23.1x37.3x3.1x
Fri, 31 Jan 2025US$250.0bUS$85.8bUS$6.8b24.6x36.5x2.9x
Sun, 29 Dec 2024US$245.3bUS$85.7bUS$6.7b24.6x36.7x2.9x
Tue, 26 Nov 2024US$254.3bUS$85.7bUS$6.6b27.9x38.5x3x
Thu, 24 Oct 2024US$233.6bUS$81.1bUS$6.2b26.9x37.8x2.9x
Sat, 21 Sep 2024US$225.7bUS$81.4bUS$6.2b25.5x36.4x2.8x
Mon, 19 Aug 2024US$213.3bUS$81.4bUS$6.2b23.4x34.4x2.6x
Wed, 17 Jul 2024US$208.8bUS$86.6bUS$6.6b22.4x31.8x2.4x
Fri, 14 Jun 2024US$208.9bUS$87.3bUS$6.5b21.6x32.1x2.4x
Sun, 12 May 2024US$216.8bUS$87.6bUS$6.5b24.1x33.5x2.5x
Tue, 09 Apr 2024US$219.2bUS$87.5bUS$6.4b23.9x34.5x2.5x
Thu, 07 Mar 2024US$217.7bUS$87.4bUS$6.3b26.7x34.5x2.5x
Sat, 03 Feb 2024US$222.7bUS$87.1bUS$6.3b26.9x35.4x2.6x
Mon, 01 Jan 2024US$217.1bUS$87.3bUS$6.4b26.3x34.1x2.5x
Wed, 29 Nov 2023US$209.8bUS$87.2bUS$5.9b24.5x35.8x2.4x
Fri, 27 Oct 2023US$204.2bUS$86.9bUS$5.8b19.7x34.9x2.3x
Sun, 24 Sep 2023US$220.7bUS$92.0bUS$6.3b19.7x35.3x2.4x
Tue, 22 Aug 2023US$233.2bUS$92.0bUS$6.2b20.6x37.7x2.5x
Thu, 20 Jul 2023US$240.9bUS$91.8bUS$6.3b17.2x38.2x2.6x
Sat, 17 Jun 2023US$220.8bUS$91.8bUS$6.3b16.4x35.1x2.4x
Mon, 15 May 2023US$205.4bUS$91.8bUS$6.3b15.2x32.8x2.2x
Wed, 12 Apr 2023US$174.2bUS$87.4bUS$6.0b12.9x28.9x2x
Fri, 10 Mar 2023US$47.3bUS$65.3bUS$1.4b13.1x34.8x0.7x
Sun, 05 Feb 2023US$50.4bUS$63.6bUS$1.7b13.4x28.9x0.8x
Price to Earnings Ratio

28.9x


Total Market Cap: US$50.4bTotal Earnings: US$1.7bTotal Revenue: US$63.6bTotal 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 38.5x which is higher than its 3-year average PE of 35.4x.
  • The 3-year average PS ratio of 2.5x is higher than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have grown 43% 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 Market0.90%
Industrials-1.21%
Professional Services-2.55%
HR Services-3.43%
Research and Consulting Services-1.71%
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
UPWK UpworkUS$20.514.2%
+US$107.1m		21.0%PE10.9x
FVRR Fiverr InternationalUS$16.998.2%
+US$47.6m		-46.7%PE28.1x
DAY DayforceUS$69.360.4%
+US$41.6m		-2.9%PS5.9x
PCTY Paylocity HoldingUS$140.690.2%
+US$12.0m		-30.8%PE33.9x
ASUR Asure SoftwareUS$9.812.8%
+US$7.6m		-20.5%PS2.1x

Latest News

TNET
US$57.73
TriNet Group
7D
-8.2%
1Y
-38.9%
DLHC
US$6.04
DLH Holdings
7D
7.3%
1Y
-23.1%
ADP
US$250.69
Automatic Data Processing
7D
-3.5%
1Y
-17.3%
FVRR
US$16.99
Fiverr International
7D
8.2%
1Y
-46.7%
PAYX
US$102.45
Paychex
7D
-4.4%
1Y
-30.3%

PAYX: AI And Platform Partnerships Will Support Resilient Cash Flow Profile

Analysts have trimmed their Paychex fair value estimate from about US$122 to roughly US$120, reflecting slightly softer revenue growth assumptions, a modestly lower future P/E and a mild uptick in the discount rate after recent bearish initiations on the stock. Analyst Commentary Recent research has focused on the implications of Paychex's move toward Paycor and how that fits with the current fair value reassessment.
PAYC
US$139.65
Paycom Software
7D
-6.4%
1Y
-32.4%

PAYC: Automation And Buybacks Will Support Margins As Expectations Reset

Analyst fair value estimates for Paycom Software have edged down by about $4 to roughly $201 per share, as analysts trim price targets across the software group and factor in a softer employment backdrop and updated rate expectations. Analyst Commentary Recent research updates on Paycom highlight a reset in expectations, with several firms lowering price targets and revisiting their assumptions around growth, employment trends and interest rates.
KFY
US$66.35
Korn Ferry
7D
-2.1%
1Y
-6.3%

KFY: New Talent Platform And Steady Outlook Will Support Future Upside

Analysts have maintained their fair value estimate for Korn Ferry at $80.25 per share, indicating that only minor adjustments have been made to the discount rate, revenue growth, profit margin and future P/E assumptions, rather than any material change in the overall outlook. What's in the News Korn Ferry launched Korn Ferry Talent Suite, a SaaS platform that brings together the firm's Architect, Assess, Pay, Recruit, Sell and other applications into a single system that embeds its proprietary talent IP, data, analytics and AI into client workflows (Key Developments).
DAY
US$69.36
Dayforce
7D
0.4%
1Y
-2.9%

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$140.69
Paylocity Holding
7D
0.2%
1Y
-30.8%

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.
SKIL
US$9.00
Skillsoft
7D
2.2%
1Y
-70.0%

Skillsoft Corp.'s (NYSE:SKIL) Shares Bounce 38% But Its Business Still Trails The Industry

Jan 23
Skillsoft Corp.'s (NYSE:SKIL) Shares Bounce 38% But Its Business Still Trails The Industry
RHI
US$26.95
Robert Half
7D
-4.1%
1Y
-61.0%

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.
JOB
US$0.24
GEE Group
7D
13.1%
1Y
1.5%
NSP
US$40.74
Insperity
7D
-13.4%
1Y
-48.2%

NSP: Index Shift And Conservative P/E Will Support Future Upside Potential

Analysts have modestly lowered their price target on Insperity to reflect a revised future P/E assumption and slightly updated views on revenue growth, profit margin and discount rate, resulting in a recalibrated fair value of US$62.00. What's in the News Insperity was removed from the S&P 400 index, including its Professional Services industry classification and Industrials sector classification (Index constituent changes).
FA
US$12.91
First Advantage
7D
-9.9%
1Y
-30.7%

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.
UPWK
US$20.51
Upwork
7D
4.2%
1Y
21.0%

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.
ASUR
US$9.81
Asure Software
7D
2.8%
1Y
-20.5%