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U.S. HR Services Industry Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies42
  • 7D-0.7%
  • 3M-21.7%
  • 1Y-37.0%
  • YTDn/a

Over the last 7 days, the HR Services industry has dropped 1.0%, driven by Automatic Data Processing declining 2.9%. Overall the industry is down 37% in 12 months. 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
Fri, 27 Mar 2026US$147.9bUS$80.5bUS$4.1b18x36.5x1.8x
Sun, 22 Feb 2026US$153.9bUS$80.1bUS$3.9b20.5x39.8x1.9x
Tue, 20 Jan 2026US$203.3bUS$86.5bUS$5.0b22x40.7x2.4x
Thu, 18 Dec 2025US$207.8bUS$86.2bUS$5.0b21.2x41.5x2.4x
Sat, 15 Nov 2025US$202.9bUS$87.3bUS$5.0b20.1x40.7x2.3x
Mon, 13 Oct 2025US$226.0bUS$86.6bUS$6.3b28.2x35.9x2.6x
Wed, 10 Sep 2025US$239.5bUS$86.9bUS$6.2b29.3x38.6x2.8x
Fri, 08 Aug 2025US$238.6bUS$86.6bUS$6.1b26.4x38.9x2.8x
Sun, 06 Jul 2025US$237.1bUS$79.8bUS$6.7b31.4x35.3x3x
Tue, 03 Jun 2025US$249.4bUS$79.7bUS$6.8b32.6x36.6x3.1x
Thu, 01 May 2025US$231.8bUS$79.0bUS$6.8b23.5x33.9x2.9x
Sat, 29 Mar 2025US$244.2bUS$80.1bUS$6.7b27.8x36.3x3x
Mon, 24 Feb 2025US$246.8bUS$79.8bUS$6.8b23.2x36x3.1x
Wed, 22 Jan 2025US$247.5bUS$85.7bUS$6.7b25x37x2.9x
Fri, 20 Dec 2024US$240.1bUS$85.7bUS$6.7b24.3x36x2.8x
Sun, 17 Nov 2024US$247.4bUS$85.7bUS$6.6b26.2x37.4x2.9x
Tue, 15 Oct 2024US$230.9bUS$81.4bUS$6.2b29.4x37.2x2.8x
Thu, 12 Sep 2024US$222.5bUS$81.4bUS$6.2b25.4x35.9x2.7x
Sat, 10 Aug 2024US$211.5bUS$81.4bUS$6.2b21.3x34x2.6x
Mon, 08 Jul 2024US$201.0bUS$86.6bUS$6.6b20.5x30.6x2.3x
Wed, 05 Jun 2024US$208.4bUS$87.6bUS$6.5b21.9x32.2x2.4x
Fri, 03 May 2024US$216.0bUS$87.8bUS$6.4b23.1x33.5x2.5x
Sun, 31 Mar 2024US$224.8bUS$87.4bUS$6.3b24.4x35.5x2.6x
Tue, 27 Feb 2024US$224.0bUS$87.3bUS$6.4b26.8x35.2x2.6x
Thu, 25 Jan 2024US$219.6bUS$87.3bUS$6.4b26.9x34.2x2.5x
Sat, 23 Dec 2023US$216.1bUS$87.3bUS$6.4b27x33.9x2.5x
Mon, 20 Nov 2023US$209.1bUS$87.2bUS$5.8b25.3x35.7x2.4x
Wed, 18 Oct 2023US$232.7bUS$92.1bUS$6.3b20.8x37x2.5x
Fri, 15 Sep 2023US$226.8bUS$88.7bUS$6.5b20.9x34.9x2.6x
Sun, 13 Aug 2023US$238.8bUS$92.0bUS$6.2b20.1x38.6x2.6x
Tue, 11 Jul 2023US$225.1bUS$91.8bUS$6.3b16.2x35.7x2.5x
Thu, 08 Jun 2023US$217.6bUS$91.8bUS$6.3b16.9x34.6x2.4x
Sat, 06 May 2023US$207.5bUS$91.7bUS$6.3b13.9x32.7x2.3x
Mon, 03 Apr 2023US$180.2bUS$87.4bUS$6.0b13.1x29.8x2.1x
Price to Earnings Ratio

29.8x


Total Market Cap: US$180.2bTotal 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 35.7x.
  • 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 13% per year over the last three years,
  • Revenues have also declined 2.8% 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 Market-1.62%
Industrials-1.51%
Professional Services-1.54%
HR Services-0.74%
Research and Consulting Services-0.35%
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
PAYX PaychexUS$93.592.0%
+US$612.4m		-38.4%PE20.5x
RHI Robert HalfUS$25.099.3%
+US$212.7m		-54.4%PE18.8x
NSP InsperityUS$26.8218.0%
+US$154.7m		-70.0%PS0.1x
KFY Korn FerryUS$64.063.7%
+US$119.3m		-6.8%PE12.5x
MAN ManpowerGroupUS$28.819.6%
+US$117.0m		-51.4%PS0.07x

Latest News

PAYX
US$93.59
Paychex
7D
2.0%
1Y
-38.4%
ADP
US$204.51
Automatic Data Processing
7D
-2.9%
1Y
-33.0%
KFY
US$64.06
Korn Ferry
7D
3.7%
1Y
-6.8%

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.
BZ
US$13.55
Kanzhun
7D
1.1%
1Y
-32.5%
RHI
US$25.09
Robert Half
7D
9.3%
1Y
-54.4%

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$26.82
Insperity
7D
18.0%
1Y
-70.0%

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$11.29
First Advantage
7D
2.9%
1Y
-20.6%

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).
UPWK
US$11.19
Upwork
7D
-1.4%
1Y
-18.1%
MAN
US$28.81
ManpowerGroup
7D
9.6%
1Y
-51.4%

MAN: AI Hiring Partnership Will Support Future Cash Returns

Analysts are keeping their $50.00 price target for ManpowerGroup unchanged. They cite updated assumptions around a slightly higher discount rate, modestly different revenue growth and profit margin expectations, and a small adjustment to the forward P/E multiple that together support maintaining their prior valuation view.
KFRC
US$28.70
Kforce
7D
9.3%
1Y
-42.0%

KFRC: Higher P/E Expectations And Capital Returns Will Support Future Share Price Upside

Analysts have raised their fair value estimate for Kforce by $2.13 to $39.00, citing updated assumptions around revenue growth, profit margins, discount rates, and future P/E multiples. These changes bring their view closer to recent Street price target moves from firms such as Baird, UBS, and Truist.
ALIT
US$0.56
Alight
7D
-16.8%
1Y
-91.1%

ALIT: Higher Margins And Execution Improvements Will Support Future Share Recovery

Analysts have sharply reduced Alight's average price targets, with changes from $6.50 to $1, $5 to $3, $6 to $2.50, and $1.40 to $0.50, while one fair value estimate is maintained around $2.70. These revisions reflect concerns about weaker renewals, softer project activity, margin pressure from growth investments, and limited near term visibility after recent earnings and guidance updates.
ASUR
US$7.95
Asure Software
7D
-2.7%
1Y
-18.7%
PAYC
US$123.03
Paycom Software
7D
-0.9%
1Y
-45.5%

PAYC: Early 2026 Buybacks And Governance Changes Will Support Future Upside

Analyst fair value for Paycom has been revised slightly higher to $152.94 from $151.18, as analysts factor in the recent $135 and $150 price target increases and highlight the company's sizable early 2026 buyback activity as a sign of management confidence at current share levels. Analyst Commentary Analysts are reacting to Paycom's recent buyback activity and past target cuts with a mix of cautious optimism and lingering concern, which is showing up in a wide range of valuation views.
TBI
US$3.55
TrueBlue
7D
-3.3%
1Y
-39.1%
HQI
US$10.03
HireQuest
7D
-2.3%
1Y
-25.4%
LGCL
US$1.53
Lucas GC
7D
-12.5%
1Y
-92.7%

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