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U.S. HR Services Industry Analysis

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies45
  • 7D-2.2%
  • 3M-9.1%
  • 1Y-18.0%
  • YTDn/a

Over the last 7 days, the HR Services industry has dropped 2.2%, driven by Automatic Data Processing declining 2.1%. The industry has fallen 18% 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
Mon, 19 Jan 2026US$203.3bUS$86.5bUS$5.0b22x40.7x2.4x
Wed, 17 Dec 2025US$208.1bUS$86.2bUS$5.0b20.8x41.5x2.4x
Fri, 14 Nov 2025US$203.0bUS$87.3bUS$5.0b19.9x40.8x2.3x
Sun, 12 Oct 2025US$225.6bUS$86.6bUS$6.3b27.5x35.9x2.6x
Tue, 09 Sep 2025US$240.1bUS$86.9bUS$6.2b29.5x38.7x2.8x
Thu, 07 Aug 2025US$237.4bUS$86.5bUS$6.1b26.5x38.9x2.7x
Sat, 05 Jul 2025US$237.1bUS$79.8bUS$6.7b31.4x35.3x3x
Mon, 02 Jun 2025US$249.4bUS$79.7bUS$6.8b32.7x36.6x3.1x
Wed, 30 Apr 2025US$228.5bUS$79.0bUS$6.8b23.7x33.4x2.9x
Fri, 28 Mar 2025US$242.1bUS$80.1bUS$6.7b28.3x36x3x
Sun, 23 Feb 2025US$246.8bUS$79.8bUS$6.8b23.2x36x3.1x
Tue, 21 Jan 2025US$247.5bUS$85.7bUS$6.7b24.9x37x2.9x
Thu, 19 Dec 2024US$248.1bUS$85.7bUS$6.7b24.9x37.2x2.9x
Sat, 16 Nov 2024US$252.3bUS$85.7bUS$6.6b26.2x38.2x2.9x
Mon, 14 Oct 2024US$230.9bUS$81.4bUS$6.2b29.4x37.2x2.8x
Wed, 11 Sep 2024US$220.9bUS$81.4bUS$6.2b22.9x35.6x2.7x
Fri, 09 Aug 2024US$208.3bUS$81.6bUS$6.2b21.6x33.4x2.6x
Sun, 07 Jul 2024US$201.0bUS$86.6bUS$6.6b20.5x30.6x2.3x
Tue, 04 Jun 2024US$208.9bUS$87.6bUS$6.5b22x32.3x2.4x
Thu, 02 May 2024US$221.4bUS$92.1bUS$6.5b23.1x33.9x2.4x
Sat, 30 Mar 2024US$224.8bUS$87.4bUS$6.3b24.4x35.5x2.6x
Mon, 26 Feb 2024US$225.6bUS$87.3bUS$6.4b26.9x35.4x2.6x
Wed, 24 Jan 2024US$218.7bUS$87.3bUS$6.4b27.1x34x2.5x
Fri, 22 Dec 2023US$218.8bUS$87.3bUS$6.4b26.4x34.3x2.5x
Sun, 19 Nov 2023US$207.7bUS$87.2bUS$5.8b25.3x35.5x2.4x
Tue, 17 Oct 2023US$232.0bUS$92.1bUS$6.5b19.9x35.9x2.5x
Thu, 14 Sep 2023US$226.7bUS$88.7bUS$6.5b20.5x34.9x2.6x
Sat, 12 Aug 2023US$238.8bUS$92.0bUS$6.2b20.1x38.6x2.6x
Mon, 10 Jul 2023US$219.6bUS$91.8bUS$6.3b15.9x34.9x2.4x
Wed, 07 Jun 2023US$217.6bUS$91.8bUS$6.3b16.3x34.5x2.4x
Fri, 05 May 2023US$207.3bUS$91.6bUS$6.3b13.7x32.7x2.3x
Sun, 02 Apr 2023US$180.2bUS$87.4bUS$6.0b13.1x29.8x2.1x
Tue, 28 Feb 2023US$48.4bUS$65.3bUS$1.4b13.5x33.7x0.7x
Thu, 26 Jan 2023US$46.0bUS$64.0bUS$1.9b12.3x23.9x0.7x
Price to Earnings Ratio

23.9x


Total Market Cap: US$46.0bTotal Earnings: US$1.9bTotal Revenue: US$64.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. HR Services Industry Price to Earnings3Y Average 35.3x202420252026
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 40.7x which is higher than its 3-year average PE of 35.3x.
  • 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 37% 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-0.29%
Industrials2.96%
Professional Services-1.48%
HR Services-2.19%
Research and Consulting Services-0.63%
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$46.593.0%
+US$50.5m		-39.4%PE103.3x
KELY.A Kelly ServicesUS$10.1210.2%
+US$33.2m		-28.0%PS0.08x
ASUR Asure SoftwareUS$10.005.9%
+US$15.7m		-17.6%PS2.1x
BZ KanzhunUS$19.270.1%
+US$9.3m		31.2%PE25.1x
BBSI Barrett Business ServicesUS$39.000.6%
+US$5.6m		-11.1%PE18.2x

Latest News

ADP
US$260.44
Automatic Data Processing
7D
-0.9%
1Y
-12.1%
PAYX
US$111.18
Paychex
7D
-1.3%
1Y
-24.0%
TBI
US$5.25
TrueBlue
7D
3.6%
1Y
-33.0%

Is TrueBlue (NYSE:TBI) A Risky Investment?

Jan 16
Is TrueBlue (NYSE:TBI) A Risky Investment?
PAYC
US$148.41
Paycom Software
7D
-6.6%
1Y
-29.1%

PAYC: Automation And Share Repurchases Will Support Durable Margins Despite Softer Subscriptions

Analysts have nudged their average price target on Paycom Software lower, trimming it by about US$3 to reflect updated interest rate assumptions, softer expectations around subscription growth, and more cautious views following recent target cuts from several research firms. Analyst Commentary Recent research updates point to a more mixed setup for Paycom, with price targets coming down but opinions split on how attractive the risk or reward looks from here.
PCTY
US$140.10
Paylocity Holding
7D
-6.2%
1Y
-28.9%

PCTY: Beat And Raise Cadence Will Support Long Term Capital Appreciation

Analysts have made a slight adjustment to their Paylocity fair value estimate to $193.85, reflecting updated assumptions for interest rates, earnings multiples, and recent research that includes both higher and lower price targets across firms. Analyst Commentary Recent research on Paylocity reflects a mix of optimism on execution and caution around the operating backdrop, with price targets clustering between US$175 and US$245 compared with the updated fair value estimate of US$193.85.
KELY.A
US$10.12
Kelly Services
7D
10.2%
1Y
-28.0%

KELY.A: Future Upside Will Rely On Execution After Reset Expectations

Narrative Update Analysts have reduced their price target on Kelly Services to $16 from $25, citing a Q2 earnings miss, a Q3 shortfall, and a soft Q4 outlook as key factors behind the reset. Analyst Commentary Recent research on Kelly Services focuses on how the company is handling softer results and what that means for valuation and execution over the next few quarters.
NSP
US$46.59
Insperity
7D
3.0%
1Y
-39.4%

Investors Still Aren't Entirely Convinced By Insperity, Inc.'s (NYSE:NSP) Revenues Despite 28% Price Jump

Jan 09
Investors Still Aren't Entirely Convinced By Insperity, Inc.'s (NYSE:NSP) Revenues Despite 28% Price Jump
RHI
US$28.34
Robert Half
7D
-2.5%
1Y
-60.0%

RHI: Sequential Contract Stabilization And Conservative Buybacks Will Balance Softer Guidance

Narrative Update Analysts have trimmed their price targets on Robert Half by roughly US$9 to US$19 per share, citing softer guidance, mixed quarterly trends between staffing and Protiviti, and a cautious approach to leverage and buybacks. Together, these factors support only modest tweaks to discount rate, revenue growth, profit margin, and future P/E assumptions in the model.
TNET
US$62.70
TriNet Group
7D
0.2%
1Y
-30.6%

TNET: AI HR Capabilities And Buybacks Will Support Future Earnings Upside

Analysts slightly reduced their price target on TriNet Group by about $2 to roughly $70, reflecting small tweaks to fair value, discount rate, profit margin assumptions, and a modestly higher future P/E multiple in their models. What's in the News Completed a share repurchase tranche, buying 481,649 shares (0.99% of outstanding shares) for $31.5 million between July 1 and September 30, 2025.
ASUR
US$10.00
Asure Software
7D
5.9%
1Y
-17.6%
FA
US$15.08
First Advantage
7D
-4.1%
1Y
-18.9%

FA: Refined 2025 Guidance And Synergies Will Support Earnings Upside

Analysts have maintained their price target for First Advantage broadly in line with prior views at about US$17.57. Small adjustments to inputs such as the discount rate and assumed future P/E reflect updated risk and valuation assumptions rather than a major change in outlook.
FVRR
US$16.57
Fiverr International
7D
-9.2%
1Y
-51.2%

FVRR: Higher Margins And Earnings Profile Will Support Bullish Repricing

Analysts have nudged their price target on Fiverr International higher to US$41.34 from US$41.34, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. Analyst Commentary Bullish analysts are pointing to Fiverr International's updated price target of US$41.34 as a sign of confidence in the company’s ability to execute against current expectations for revenue, margins and future P/E.
BZ
US$19.27
Kanzhun
7D
0.1%
1Y
31.2%

BZ: Rising Future P/E Will Support Bullish View On Shares

Analysts now see higher upside in Kanzhun, lifting their fair value estimate from about US$27.14 to roughly US$28.69 as they factor in updated assumptions for discount rates, revenue growth, profit margins, and a higher future P/E multiple. What's in the News Chief Financial Officer Phil Yu Zhang plans to resign from Kanzhun, effective December 11, 2025, and Vice President Wenbei Wang has been appointed Deputy Chief Financial Officer, adding responsibilities alongside her investor relations role (Key Developments).
UPWK
US$19.87
Upwork
7D
-2.6%
1Y
17.6%

UPWK: AI Workflow Ambitions Will Likely Outpace Realistic Profit Margins

Analysts have raised their average price target for Upwork into the mid to high $20s, citing stronger three-year growth ambitions around AI-driven workflows, increased SMB adoption and an expanded enterprise offering, along with updated expectations for higher revenue growth and profit margins on a lower future P/E multiple. Analyst Commentary Recent research highlights a more constructive tone around Upwork, with several firms lifting their price targets into the low to high $20s.
BBSI
US$39.00
Barrett Business Services
7D
0.6%
1Y
-11.1%
BIYA
US$7.05
Baiya International Group
7D
52.9%
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