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U.S. HR Services Industry Analysis

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies45
  • 7D-1.1%
  • 3M-11.1%
  • 1Y-16.3%
  • YTDn/a

Over the last 7 days, the HR Services industry has remained flat. As for the longer term, the industry has declined 17% in the last year. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sat, 11 Feb 2023US$48.9bUS$63.9bUS$1.7b14x28.1x0.8x
Mon, 09 Jan 2023US$45.2bUS$64.0bUS$2.1b12.2x22x0.7x
Price to Earnings Ratio

22x


Total Market Cap: US$45.2bTotal Earnings: US$2.1bTotal Revenue: US$64.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35x202420252026
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 41.0x which is higher than its 3-year average PE of 35.0x.
  • 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 35% 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-1.43%
Industrials-1.81%
Professional Services-1.62%
HR Services-1.09%
Research and Consulting Services-2.07%
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
TNET TriNet GroupUS$59.130.8%
+US$23.1m		-35.3%PE21.4x
SKIL SkillsoftUS$9.3029.7%
+US$18.7m		-64.9%PS0.2x
KELY.A Kelly ServicesUS$8.802.2%
+US$6.7m		-38.2%PS0.07x
NSP InsperityUS$38.720.4%
+US$5.7m		-50.7%PE85.9x
ASUR Asure SoftwareUS$9.421.2%
+US$3.1m		-2.4%PS2x

Latest News

STRR
US$11.25
Star Equity Holdings
7D
3.0%
1Y
-15.3%
NSP
US$38.72
Insperity
7D
0.4%
1Y
-50.7%

Insperity: A Value Opportunity With 2026 Recovery Catalysts (Rating Upgrade)

Dec 31
HQI
US$10.51
HireQuest
7D
1.0%
1Y
-24.0%
UPWK
US$19.82
Upwork
7D
-4.9%
1Y
23.0%

Returns on Capital Paint A Bright Future For Upwork (NASDAQ:UPWK)

Dec 29
Returns on Capital Paint A Bright Future For Upwork (NASDAQ:UPWK)
PAYC
US$159.36
Paycom Software
7D
-0.7%
1Y
-21.8%

PAYC: AI Automation Will Support Durable Margins Amid Moderating Subscription Momentum

Analysts have trimmed their fair value estimate for Paycom Software slightly to approximately $208.71 from about $209.94 per share, citing a weaker employment backdrop, more cautious management guidance, and expectations for high single digit subscription revenue growth rather than the stronger historical trajectory. Analyst Commentary Recent Street research reflects a more tempered stance on Paycom Software, with multiple firms reducing price targets while generally maintaining neutral or hold level ratings.
KELY.A
US$8.80
Kelly Services
7D
2.2%
1Y
-38.2%

KELY.A: Future Upside Will Stem From Undervalued Specialty Mix Amid Macro Headwinds

Analysts have reduced their price target on Kelly Services to $16 from $25, citing weaker than expected Q2 results, a Q3 shortfall, and a soft Q4 outlook amid increasingly challenging macroeconomic conditions. Analyst Commentary Analysts are recalibrating their views on Kelly Services, balancing ongoing execution strengths against a tougher macro backdrop and reduced near term visibility.
PCTY
US$152.50
Paylocity Holding
7D
-0.7%
1Y
-23.5%

PCTY Beat And Raise Cadence Will Drive Upside Through Fiscal 2026

Analysts have reduced their fair value estimate for Paylocity Holding to $250 from $270, citing a higher discount rate that more than offsets improving growth, margin expectations, and confidence in a beat and raise earnings trajectory reflected in recent, albeit lowered, price targets across the Street. Analyst Commentary Bullish analysts acknowledge the higher discount rate but continue to underscore Paylocity's ability to execute consistently, highlighting recent results and guidance that have outpaced muted investor expectations.
PAYX
US$112.18
Paychex
7D
-1.8%
1Y
-19.7%

PAYX: AI And Suite Expansion Will Navigate Cyclical Labor Uncertainty Ahead

Analysts have modestly reduced their Paychex fair value estimate by about $6 to roughly $122 per share, reflecting tempered expectations for revenue growth and future valuation multiples, despite resilient margins and a broader solution suite. Analyst Commentary Street research on Paychex reflects a generally balanced stance, with most firms maintaining neutral or modestly cautious ratings while making incremental target price adjustments.
ADP
US$257.23
Automatic Data Processing
7D
-0.6%
1Y
-11.8%

ADP: Dividend And Buyback Strength Will Support Returns Through Cyclical Headwinds

Analysts have trimmed their price target on Automatic Data Processing by about $2 to reflect solid recent results but a tougher near term backdrop, citing slowing employment trends, longer sales cycles, cyclical risks for payroll outsourcers, and updated assumptions for interest rates and foreign exchange. Analyst Commentary Analysts remain divided on Automatic Data Processing as they recalibrate expectations following the latest quarterly results, with several trimming price targets but differing on the company’s ability to sustain premium valuation levels.
FA
US$14.53
First Advantage
7D
-6.4%
1Y
-21.2%

FA Synergy Progress And Tighter 2025 Guidance Will Support Earnings Upside

Analysts have nudged their price target on First Advantage slightly higher, from $17.43 to $17.57. They cite modest improvements in projected profitability and valuation multiples, despite slightly softer revenue growth assumptions and a lower discount rate.
KFY
US$66.02
Korn Ferry
7D
-1.6%
1Y
-3.0%

KFY: Executive Search Take Private Deal Will Support Future Upside Potential

Analysts have nudged their price target on Korn Ferry slightly lower, from $81.00 to $80.25, as modestly higher discount rate assumptions offset improved expectations for revenue growth, profit margins, and supportive read throughs from deal activity in the executive search peer group. Analyst Commentary Bullish analysts view the recent take private agreement for a key peer in executive search as a constructive datapoint for Korn Ferry, interpreting the premium transaction value as evidence that strategic and financial buyers are willing to underwrite healthy growth and margin assumptions for high quality talent advisory platforms.
SKIL
US$9.30
Skillsoft
7D
29.7%
1Y
-64.9%
TNET
US$59.13
TriNet Group
7D
0.8%
1Y
-35.3%

TNET: Guidance And AI Tools Will Shape A Balanced Risk Outlook

Analysts have trimmed their fair value estimate for TriNet Group from 67 dollars to 62 dollars per share, citing slightly higher perceived risk, softer long term growth and margin expectations, and a richer forward earnings multiple. What's in the News TriNet reaffirmed its full year 2025 guidance, projecting total revenues of 4,950 to 5,140 million dollars and diluted EPS of 1.90 to 3.40 dollars, signaling confidence in its operating outlook (company guidance).
BZ
US$20.38
Kanzhun
7D
-3.2%
1Y
46.1%

BZ: Future Cash Flow Resilience Will Drive Continued Share Upside

Analysts have nudged their price target for Kanzhun slightly higher to approximately $25.98 per share, up from about $25.93. This adjustment reflects modestly stronger expectations for long term revenue growth and a marginally lower discount rate, which more than offset a minor trim to projected profit margins.
BIYA
US$3.87
Baiya International Group
7D
-6.7%
1Y
n/a

Revenues Working Against Baiya International Group Inc.'s (NASDAQ:BIYA) Share Price Following 43% Dive

Dec 07
Revenues Working Against Baiya International Group Inc.'s (NASDAQ:BIYA) Share Price Following 43% Dive
ASUR
US$9.42
Asure Software
7D
1.2%
1Y
-2.4%