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U.S. HR Services Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies43
  • 7D5.5%
  • 3M-13.7%
  • 1Y-31.0%
  • YTDn/a

The HR Services industry is up 5.5% in the last week, with Automatic Data Processing up 5.2%. In the same time, Kanzhun was down 6.4%. However, the industry is down 31% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Mar 2026US$163.4bUS$80.3bUS$4.0b19.7x41.1x2x
Wed, 04 Feb 2026US$193.9bUS$87.0bUS$5.1b22.1x38.2x2.2x
Fri, 02 Jan 2026US$203.4bUS$86.5bUS$5.0b20.9x40.7x2.4x
Sun, 30 Nov 2025US$204.2bUS$87.4bUS$5.0b19.5x40.5x2.3x
Tue, 28 Oct 2025US$223.7bUS$86.6bUS$6.3b27.9x35.7x2.6x
Thu, 25 Sep 2025US$232.9bUS$86.4bUS$6.3b28.4x36.7x2.7x
Sat, 23 Aug 2025US$244.3bUS$86.9bUS$6.2b30.6x39.4x2.8x
Mon, 21 Jul 2025US$232.2bUS$79.8bUS$6.6b30.9x35.2x2.9x
Wed, 18 Jun 2025US$238.4bUS$79.7bUS$6.8b31.2x35x3x
Fri, 16 May 2025US$242.9bUS$79.7bUS$6.8b29.4x35.6x3x
Sun, 13 Apr 2025US$236.0bUS$80.1bUS$6.7b26.3x35.2x2.9x
Tue, 11 Mar 2025US$244.0bUS$80.0bUS$6.7b23x36.4x3x
Thu, 06 Feb 2025US$251.6bUS$85.8bUS$6.8b24.4x37x2.9x
Sat, 04 Jan 2025US$240.0bUS$85.7bUS$6.7b24.2x35.9x2.8x
Mon, 02 Dec 2024US$256.4bUS$85.7bUS$6.6b27.6x38.9x3x
Wed, 30 Oct 2024US$235.8bUS$86.1bUS$6.5b27x36x2.7x
Fri, 27 Sep 2024US$222.8bUS$81.4bUS$6.2b25.2x35.9x2.7x
Sun, 25 Aug 2024US$218.9bUS$81.4bUS$6.2b23.8x35.3x2.7x
Tue, 23 Jul 2024US$211.5bUS$86.3bUS$6.6b22.5x32.3x2.5x
Thu, 20 Jun 2024US$208.8bUS$87.3bUS$6.5b20.6x32x2.4x
Sat, 18 May 2024US$220.7bUS$87.6bUS$6.5b23.4x34.1x2.5x
Mon, 15 Apr 2024US$218.1bUS$87.5bUS$6.4b23.2x34.3x2.5x
Wed, 13 Mar 2024US$220.2bUS$87.4bUS$6.3b26.1x34.7x2.5x
Fri, 09 Feb 2024US$222.6bUS$87.1bUS$6.3b27.4x35.1x2.6x
Sun, 07 Jan 2024US$214.0bUS$87.3bUS$6.4b26x33.6x2.5x
Tue, 05 Dec 2023US$216.1bUS$87.2bUS$5.9b25.6x36.9x2.5x
Thu, 02 Nov 2023US$203.2bUS$87.1bUS$5.9b21.3x34.6x2.3x
Sat, 30 Sep 2023US$225.0bUS$92.1bUS$6.3b19.8x35.7x2.4x
Mon, 28 Aug 2023US$236.0bUS$92.0bUS$6.2b20.6x38.1x2.6x
Wed, 26 Jul 2023US$239.7bUS$91.5bUS$6.2b17.5x38.6x2.6x
Fri, 23 Jun 2023US$218.9bUS$91.8bUS$6.3b16.5x34.8x2.4x
Sun, 21 May 2023US$210.2bUS$91.8bUS$6.3b15.5x33.3x2.3x
Tue, 18 Apr 2023US$176.1bUS$87.1bUS$6.0b13.3x29.3x2x
Thu, 16 Mar 2023US$45.1bUS$65.3bUS$1.5b12.3x30.8x0.7x
Price to Earnings Ratio

30.8x


Total Market Cap: US$45.1bTotal Earnings: US$1.5bTotal Revenue: US$65.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35.6x202420252026
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 41.1x which is higher than its 3-year average PE of 35.6x.
  • The 3-year average PS ratio of 2.6x 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 40% per year over the last three years.
  • Revenues for these companies have grown 7.2% 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-2.17%
Industrials-4.55%
Professional Services2.78%
HR Services5.55%
Research and Consulting Services0.17%
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$226.245.2%
+US$4.5b		-25.3%PE21.5x
PAYX PaychexUS$100.857.0%
+US$2.4b		-34.7%PE22.7x
PCTY Paylocity HoldingUS$120.1011.4%
+US$662.7m		-36.3%PE27.2x
PAYC Paycom SoftwareUS$138.017.6%
+US$516.2m		-36.4%PE16.2x
RHI Robert HalfUS$24.764.4%
+US$103.4m		-54.5%PE18.5x

Latest News

KFY
US$63.60
Korn Ferry
7D
2.3%
1Y
1.7%
RHI
US$24.76
Robert Half
7D
4.4%
1Y
-54.5%

RHI: Limited AI Disruption And Cost Actions Will Support A More Constructive Outlook

Analysts trimmed their price targets on Robert Half, with our updated fair value estimate easing from about $48.45 to $47.84. This reflects recent target cuts into the mid $20s to low $30s range and new expectations around cost actions, profitability trends, and limited AI disruption risk in its business services exposure.
BZ
US$15.14
Kanzhun
7D
-6.4%
1Y
-13.0%
ADP
US$226.24
Automatic Data Processing
7D
5.2%
1Y
-25.3%
TNET
US$39.01
TriNet Group
7D
3.8%
1Y
-47.4%

TNET: AI HR Execution And Buybacks Will Support Future Multiple Expansion

Analysts have trimmed their price expectations for TriNet Group, with the fair value estimate moving from about $70 to roughly $55, citing updated assumptions around discount rates, revenue trends, profit margins, and a lower future P/E multiple that align with recent target cuts from the Street. Analyst Commentary Recent Street updates on TriNet Group focus on recalibrated price targets and refreshed estimates ahead of upcoming results, which feed directly into the lower fair value range you saw earlier.
MAN
US$29.10
ManpowerGroup
7D
7.7%
1Y
-52.4%

MAN: Future Outlook Will Balance Modest Margin Gains With Fairly Priced Shares

Analysts have modestly raised their price target on ManpowerGroup, citing slightly higher assumptions for revenue growth, profit margins, and future P/E, while applying an updated discount rate to their $30.00 fair value estimate. Valuation Changes Fair Value: Maintained at $30.00 per share, with no change to the overall equity value estimate.
PAYC
US$138.01
Paycom Software
7D
7.6%
1Y
-36.4%
NIXX
US$0.52
Nixxy
7D
-1.1%
1Y
-69.0%
PAYX
US$100.85
Paychex
7D
7.0%
1Y
-34.7%

PAYX: AI And Buybacks Will Counter Defensive Competitive Pressures Over Time

Analysts have trimmed their Paychex price target slightly to about $119 per share, reflecting modest adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions following new bearish coverage that characterizes recent competitive moves as largely defensive. Analyst Commentary Recent research frames the latest competitive response, including the Paycor related move, as more defensive than opportunistic.
KELY.A
US$9.23
Kelly Services
7D
-1.5%
1Y
-30.5%

KELY.A: Future Upside Will Depend On 2026 Outlook Execution After Target Cut

Analysts have lowered their fair value estimate for Kelly Services to about $16.67 from $17.67 and reduced the price target to $15 from $16, citing updated forecasts following Q4 results and the company's 2026 outlook. Analyst Commentary Recent research updates reflect a more cautious stance on Kelly Services, with fair value and price targets adjusted after the latest Q4 results and the 2026 outlook.
PCTY
US$120.10
Paylocity Holding
7D
11.4%
1Y
-36.3%

PCTY: 2026 Sector Setup And Buybacks Will Drive Upside

Our updated narrative on Paylocity reflects a reduced analyst price target of about $226, in line with a broad round of target cuts across the Street as analysts recalibrate for slightly lower revenue growth, narrower profit margin assumptions, a modestly higher discount rate, and a marginally higher future P/E multiple. Analyst Commentary Across the Street, most recent research has centered on recalibrating Paylocity price targets, with a cluster of firms trimming targets by between $5 and $75.
HQI
US$11.01
HireQuest
7D
-7.6%
1Y
-18.3%
GLXG
US$2.10
Galaxy Payroll Group
7D
-6.9%
1Y
-75.0%
YOUL
US$1.08
Youlife Group
7D
-1.8%
1Y
n/a