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U.S. HR Services Industry Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies43
  • 7D-4.9%
  • 3M-22.0%
  • 1Y-38.5%
  • YTDn/a

Over the last 7 days, the HR Services industry has dropped 4.9%, driven by pullbacks in Automatic Data Processing and Paychex of 3.0% and 7.4%, respectively. Meanwhile, HireQuest actually outperformed within the industry, gaining 5.7% in the last week. The industry has fallen 38% in the last year. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026US$153.9bUS$80.1bUS$3.9b19.2x39.8x1.9x
Thu, 22 Jan 2026US$198.8bUS$86.5bUS$5.0b22.5x39.8x2.3x
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
Price to Earnings Ratio

33.5x


Total Market Cap: US$48.5bTotal 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 35.6x202420252026
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 39.8x 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 1.9x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have grown 39% 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 Market-0.35%
Industrials0.19%
Professional Services-2.51%
HR Services-4.94%
Research and Consulting Services-0.77%
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
HQI HireQuestUS$11.495.7%
+US$8.7m		-25.3%PE22.4x
DLHC DLH HoldingsUS$5.763.6%
+US$2.9m		7.7%PS0.3x
BGSF BGSFUS$6.002.2%
+US$1.5m		22.4%PS0.3x
IPDN Professional Diversity NetworkUS$1.9317.7%
+US$1.4m		-53.8%PS1.5x

Latest News

NSP
US$20.99
Insperity
7D
-18.3%
1Y
-75.5%
PCTY
US$101.95
Paylocity Holding
7D
-4.8%
1Y
-50.8%

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$11.49
HireQuest
7D
5.7%
1Y
-25.3%
ALIT
US$0.72
Alight
7D
-44.7%
1Y
-89.6%
PAYC
US$114.43
Paycom Software
7D
-8.7%
1Y
-47.8%
TNET
US$33.85
TriNet Group
7D
-15.0%
1Y
-51.0%

TNET: Recalibrated Earnings Outlook And Buybacks Will Support Future Upside

Analysts have reduced their price target for TriNet Group by $22 to $75, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E multiples, consistent with recent Street target cuts. Analyst Commentary Bullish analysts are treating the recent price target reset as more of a recalibration than a shift in the core outlook for TriNet Group.
BZ
US$16.30
Kanzhun
7D
-5.9%
1Y
1.9%

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).
BGSF
US$6.00
BGSF
7D
2.2%
1Y
22.4%
DLHC
US$5.76
DLH Holdings
7D
3.6%
1Y
7.7%
PAYX
US$87.39
Paychex
7D
-7.4%
1Y
-41.7%

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$205.73
Automatic Data Processing
7D
-3.0%
1Y
-34.1%

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.
IPDN
US$1.93
Professional Diversity Network
7D
17.7%
1Y
-53.8%