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U.S. HR Services Industry Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies43
  • 7D1.3%
  • 3M-16.6%
  • 1Y-35.6%
  • YTDn/a

The HR Services industry is up 1.3% in the last week, with Automatic Data Processing up 2.9%. In the same time, Alight was down 40%. In the past year, the industry is down 36%. 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
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
Mon, 27 Feb 2023US$48.3bUS$65.3bUS$1.4b13.5x33.6x0.7x
Price to Earnings Ratio

33.6x


Total Market Cap: US$48.3bTotal Earnings: US$1.4bTotal Revenue: US$65.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35.5x202420252026
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 35.5x.
  • The 3-year average PS ratio of 2.5x is higher than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have grown 50% per year over the last three years.
  • Revenues for these companies have grown 7.1% 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 Market0.64%
Industrials2.24%
Professional Services3.72%
HR Services1.30%
Research and Consulting Services6.44%
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
ADP Automatic Data ProcessingUS$215.972.9%
+US$2.4b		-30.8%PE20.5x
PCTY Paylocity HoldingUS$108.223.9%
+US$216.6m		-47.6%PE24.5x
KFY Korn FerryUS$62.874.5%
+US$140.9m		-4.5%PE12.7x
RHI Robert HalfUS$26.745.3%
+US$119.1m		-55.5%PE20x
TNET TriNet GroupUS$42.685.8%
+US$110.2m		-38.8%PE13x

Latest News

NSP
US$25.19
Insperity
7D
-2.8%
1Y
-70.9%
PAYC
US$120.72
Paycom Software
7D
0.8%
1Y
-43.7%
FVRR
US$11.32
Fiverr International
7D
-18.0%
1Y
-59.4%
TBI
US$3.91
TrueBlue
7D
-15.6%
1Y
-38.2%
ALIT
US$0.81
Alight
7D
-39.6%
1Y
-88.3%
FA
US$9.60
First Advantage
7D
-8.6%
1Y
-48.8%

FA: Stable Assumptions And Higher Future P/E Will Support Earnings Upside

Analysts have adjusted their price target for First Advantage to $17.57, with the change reflecting updated assumptions for the discount rate and future P/E, while keeping fair value, revenue growth, and profit margin estimates broadly consistent with prior views. Valuation Changes Fair Value: Model fair value remains at $17.57, with no change from the prior estimate.
MAN
US$29.03
ManpowerGroup
7D
-0.6%
1Y
-47.2%

MAN: Saudi Partnership And Brand Expansion Will Support Future Cash Returns

Analysts have raised their ManpowerGroup fair value estimate to $50 from $48, reflecting updated assumptions for the discount rate, revenue growth, profit margin, and future P/E that collectively support a slightly higher long-term price target. What's in the News Mahah Human Resources Company signed a brand license agreement with ManpowerGroup to operate under the global "Manpower" brand in the Kingdom of Saudi Arabia, expanding the brand's presence in that market (Key Developments).
UPWK
US$13.32
Upwork
7D
1.6%
1Y
-20.5%
BZ
US$17.21
Kanzhun
7D
-2.3%
1Y
10.0%

BZ: Leadership Transition And Profitability Outlook Will Support Bullish View On Shares

Analysts have nudged their fair value estimate for Kanzhun slightly higher to $29.02 from $28.69, citing updated assumptions around revenue growth, profit margins, and a modestly lower future P/E multiple. What's in the News Kanzhun Limited announced that Mr. Phil Yu Zhang will step down as Chief Financial Officer, effective December 11, 2025, marking a planned transition in the finance leadership team (Key Developments).
RHI
US$26.74
Robert Half
7D
5.3%
1Y
-55.5%
TNET
US$42.68
TriNet Group
7D
5.8%
1Y
-38.8%
BBSI
US$32.58
Barrett Business Services
7D
3.8%
1Y
-20.2%
PAYX
US$92.34
Paychex
7D
-0.1%
1Y
-38.5%

PAYX: AI And Buybacks Will Support Resilient Future Cash Flow Profile

Analysts have trimmed their average Paychex price target slightly to about $119.53 from roughly $120.20, reflecting a modestly lower assumed future P/E and fresh bearish initiation commentary that characterizes the recent Paycor acquisition as a largely defensive move. Analyst Commentary Recent commentary focuses heavily on the Paycor acquisition and how it feeds into expectations for Paychex valuation and execution.
ADP
US$215.97
Automatic Data Processing
7D
2.9%
1Y
-30.8%

ADP: Dividend Power And HR Platform Execution Will Support Premium P/E

Analysts have trimmed their average price target on Automatic Data Processing by about $10, reflecting slightly more cautious assumptions on revenue growth, profit margins and future P/E multiples after a series of target cuts from major research firms, alongside one fresh bullish initiation. Analyst Commentary Recent research on Automatic Data Processing shows a cluster of target cuts alongside one new, more optimistic initiation.
PCTY
US$108.22
Paylocity Holding
7D
3.9%
1Y
-47.6%

What You Can Learn From Paylocity Holding Corporation's (NASDAQ:PCTY) P/E After Its 25% Share Price Crash

Feb 10
What You Can Learn From Paylocity Holding Corporation's (NASDAQ:PCTY) P/E After Its 25% Share Price Crash
KFY
US$62.87
Korn Ferry
7D
4.5%
1Y
-4.5%

KFY: LA28 Partnership And Talent Platform Will Support Long-Term Upside

Analysts have maintained their Korn Ferry price target at $80.25, with only slight tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions supporting this unchanged view. What's in the News Korn Ferry became a Founding Partner of the LA28 Olympic and Paralympic Games and the Official Talent & Organizational Consulting Partner for LA28 and Team USA, working with organizers to hire, onboard, and develop a workforce of nearly 5,000 people for the event (Key Developments).