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U.S. HR Services Industry Analysis

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies41
  • 7D-0.7%
  • 3M-19.8%
  • 1Y-36.7%
  • YTDn/a

Over the last 7 days, the HR Services industry has remained flat, although notably Insperity gained 9.4%. Unfortunately though, the industry is down 37% over the past 12 months. Looking forward, earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Apr 2026US$146.6bUS$80.5bUS$4.1b18x36.2x1.8x
Mon, 02 Mar 2026US$154.8bUS$80.3bUS$4.0b19.7x38.9x1.9x
Wed, 28 Jan 2026US$200.8bUS$86.5bUS$5.0b21.8x40.2x2.3x
Fri, 26 Dec 2025US$205.2bUS$86.5bUS$5.0b20.4x41.1x2.4x
Sun, 23 Nov 2025US$201.9bUS$87.4bUS$5.0b19.6x40.1x2.3x
Tue, 21 Oct 2025US$225.4bUS$86.7bUS$6.3b27.7x35.8x2.6x
Thu, 18 Sep 2025US$234.2bUS$86.4bUS$6.3b28.7x36.9x2.7x
Sat, 16 Aug 2025US$238.2bUS$86.8bUS$6.2b29.1x38.7x2.7x
Mon, 14 Jul 2025US$230.9bUS$79.8bUS$6.7b25.6x34.4x2.9x
Wed, 11 Jun 2025US$246.1bUS$79.7bUS$6.8b31.9x36.2x3.1x
Fri, 09 May 2025US$233.9bUS$79.4bUS$6.8b24.7x34.3x2.9x
Sun, 06 Apr 2025US$226.4bUS$80.1bUS$6.7b25.8x33.7x2.8x
Tue, 04 Mar 2025US$249.7bUS$80.0bUS$6.7b21.8x37.1x3.1x
Thu, 30 Jan 2025US$250.9bUS$86.1bUS$6.8b24.6x37x2.9x
Sat, 28 Dec 2024US$246.8bUS$85.7bUS$6.7b24.6x36.9x2.9x
Mon, 25 Nov 2024US$254.3bUS$85.7bUS$6.6b27.4x38.5x3x
Wed, 23 Oct 2024US$233.2bUS$81.2bUS$6.2b29.1x37.6x2.9x
Fri, 20 Sep 2024US$223.4bUS$81.4bUS$6.2b25.6x36x2.7x
Sun, 18 Aug 2024US$213.3bUS$81.4bUS$6.2b23.4x34.4x2.6x
Tue, 16 Jul 2024US$203.9bUS$86.6bUS$6.6b21.4x31.1x2.4x
Thu, 13 Jun 2024US$210.3bUS$87.6bUS$6.5b21.5x32.4x2.4x
Sat, 11 May 2024US$215.3bUS$87.6bUS$6.5b24.1x33.3x2.5x
Mon, 08 Apr 2024US$219.2bUS$87.5bUS$6.4b23.5x34.5x2.5x
Wed, 06 Mar 2024US$221.4bUS$87.4bUS$6.3b26.5x35.1x2.5x
Fri, 02 Feb 2024US$221.3bUS$87.1bUS$6.3b26.7x35.1x2.5x
Sun, 31 Dec 2023US$217.2bUS$87.3bUS$6.4b26.3x34.1x2.5x
Tue, 28 Nov 2023US$210.5bUS$87.2bUS$5.9b25x35.9x2.4x
Thu, 26 Oct 2023US$209.5bUS$91.6bUS$6.1b19.2x34.2x2.3x
Sat, 23 Sep 2023US$216.6bUS$88.7bUS$6.5b19.7x33.4x2.4x
Mon, 21 Aug 2023US$233.2bUS$92.0bUS$6.2b20.5x37.7x2.5x
Wed, 19 Jul 2023US$239.7bUS$91.8bUS$6.3b17.2x38x2.6x
Fri, 16 Jun 2023US$217.5bUS$91.8bUS$6.3b15.8x34.6x2.4x
Sun, 14 May 2023US$205.4bUS$91.8bUS$6.3b15.2x32.8x2.2x
Tue, 11 Apr 2023US$173.5bUS$87.4bUS$6.0b13x28.7x2x
Price to Earnings Ratio

28.7x


Total Market Cap: US$173.5bTotal Earnings: US$6.0bTotal Revenue: US$87.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35.8x202420252026
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 35.8x.
  • The 3-year average PS ratio of 2.6x is higher than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Human Resource and Employment Services industry have declined 12% per year over the last three years,
  • Revenues have also declined 2.7% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does U.S. HR Services compare with similar industries?

US Market1.90%
Industrials1.59%
Professional Services0.99%
HR Services-0.70%
Research and Consulting Services2.61%
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
NSP InsperityUS$29.349.4%
+US$95.1m		-66.6%PS0.2x
PAYC Paycom SoftwareUS$123.560.4%
+US$28.2m		-42.1%PE14.5x
MAN ManpowerGroupUS$29.351.9%
+US$25.1m		-46.3%PS0.08x
KFRC KforceUS$29.924.3%
+US$20.9m		-36.7%PE14.7x
RHI Robert HalfUS$25.290.8%
+US$19.9m		-50.4%PE18.9x

Latest News

ASUR
US$8.45
Asure Software
7D
6.3%
1Y
-7.5%
PAYC
US$123.56
Paycom Software
7D
0.4%
1Y
-42.1%
MAN
US$29.35
ManpowerGroup
7D
1.9%
1Y
-46.3%

MAN: AI Hiring Partnership Will Support Future Earnings Power

Analysts now estimate ManpowerGroup's fair value at approximately $49.64, adjusted from the prior estimate of $50.00. This change reflects updated views on the discount rate, revenue growth, profit margin, and future P/E assumptions.
BZ
US$13.52
Kanzhun
7D
-0.2%
1Y
-28.4%

BZ: Fair Value View Will Rely On Expanded Buybacks And Margin Outlook

Analysts have cut their price target on Kanzhun from about $21.04 to about $15.90 as they now factor in more moderate revenue growth and a lower future P/E of roughly 21.7x, partly offset by expectations for a higher profit margin of about 33.6%. What's in the News Kanzhun increased its equity buyback authorization by US$150 million to a total of US$400 million and extended the program to August 28, 2027 (company announcement).
UPWK
US$10.94
Upwork
7D
-2.2%
1Y
-12.7%

UPWK: Share Buybacks And Higher Margin Outlook Will Support Future Earnings Power

Upwork's updated analyst price target holds at $27, as analysts balance slightly higher modeled revenue growth and profit margins with a modestly higher discount rate and mostly lower Street targets in recent research. Analyst Commentary Recent research on Upwork reflects a mixed but constructive tone, with several firms trimming their price targets while one raised its target, and Goldman Sachs also adjusting its view.
KFRC
US$29.92
Kforce
7D
4.3%
1Y
-36.7%

KFRC: Dividend Increases And Buybacks Will Drive Future Shareholder Returns

Analysts have lifted their Kforce price targets by $3 to $4.50, reflecting updated views on discount rates, modest changes to revenue growth and profit margin assumptions, and a slightly lower future P/E multiple. Analyst Commentary Bullish analysts lifting Kforce price targets by $3 to $4.50 are signaling increased confidence in how the current valuation lines up with their updated assumptions on discount rates, revenue trends, and profit margins.
ADP
US$204.01
Automatic Data Processing
7D
-0.2%
1Y
-33.2%

AI Payroll Demand And International Expansion Will Shape A Steady But Limited Outlook

Catalysts About Automatic Data Processing Automatic Data Processing provides payroll and broader human capital management services and outsourcing solutions to employers of various sizes across multiple countries. What are the underlying business or industry changes driving this perspective?
TBI
US$4.00
TrueBlue
7D
12.7%
1Y
-18.2%
PAYX
US$91.70
Paychex
7D
-2.0%
1Y
-40.3%

AI Rollout And PEO Demand Will Support Steady Outlook Despite Integration Risks

Catalysts About Paychex Paychex provides HR, payroll, benefits and PEO solutions to businesses of various sizes, with a large small business client base. What are the underlying business or industry changes driving this perspective?
PCTY
US$106.14
Paylocity Holding
7D
-4.4%
1Y
-41.9%

PCTY: Stable Margins And Buybacks Will Drive Long Term Upside

Analysts trimmed the Paylocity Holding fair value estimate by about $1 to $169.43 per share. The change reflects updated price targets across the Street and slightly higher discount rate and future P/E assumptions, while revenue growth and profit margin expectations remain essentially unchanged.
KFY
US$63.36
Korn Ferry
7D
-1.1%
1Y
-1.4%

KFY: Executive Search Resilience And Buybacks Will Support Future Upside

Narrative Update The average analyst price target for Korn Ferry has been reduced by $7, as reflected in recent cuts to $65 and $75. Analysts attribute this change to lower sector valuation multiples, while also noting a solid quarter, encouraging new business, increased buybacks, and relatively resilient executive search demand.
MHH
US$5.80
Mastech Digital
7D
-6.0%
1Y
-36.1%
RHI
US$25.29
Robert Half
7D
0.8%
1Y
-50.4%

RHI: Cost Actions And Limited AI Risk Will Shape Future Performance

Robert Half's updated analyst price target moves lower to $22, reflecting an $11 reset as analysts factor in a higher discount rate, slightly different revenue expectations, reduced profit margin assumptions, and recent Street research that trims targets after cost actions and revised profitability ramps, even as some highlight relatively limited AI disruption risk. Analyst Commentary Recent research paints a mixed picture, with several firms trimming price targets and flagging execution risks, even as others adjust targets higher.
NSP
US$29.34
Insperity
7D
9.4%
1Y
-66.6%

NSP: HR Partnership And Earnings Outlook Will Support Future Upside Potential

Analysts have nudged their price target for Insperity slightly higher to $56.00, reflecting updated assumptions around the discount rate, revenue growth, profit margins, and future P/E that collectively suggest a modestly improved outlook for the shares. What's in the News Insperity and Workday announced the general availability of Insperity HRScale, combining Insperity's PEO model and HR services with the Workday Human Capital Management suite to offer small and midsized businesses an integrated HR, payroll, and workforce analytics platform (Client Announcements).
FA
US$11.23
First Advantage
7D
-0.5%
1Y
-23.5%

FA: Share Repurchases And 2026 Guidance Will Support Future Earnings Upside

Analysts have revised their 12 month price target for First Advantage to $15.00 from $17.57, reflecting updated assumptions for revenue growth, profit margins, and future P/E multiples. What's in the News First Advantage issued full year 2026 earnings guidance, with expected revenue in the range of US$1.625b to US$1.7b (company guidance).
YOUL
US$0.95
Youlife Group
7D
-8.2%
1Y
n/a