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ManpowerGroup

DB:MPW
Snowflake Description

Established dividend payer and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MPW
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$6B
Market Cap
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Last updated 2019/04/19 20:47
Company description

ManpowerGroup Inc. provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The last earnings update was 1 day ago. More info.

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MPW Share Price and Events
7 Day Returns
2%
DB:MPW
2%
Europe Professional Services
2.4%
DE Market
1 Year Returns
-18.5%
DB:MPW
9.9%
Europe Professional Services
-6.2%
DE Market
MPW Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
ManpowerGroup (MPW) 2% 2.6% 19.3% -18.5% 9.1% 30.4%
Europe Professional Services 2% 4.6% 9.6% 9.9% 34.6% 53.5%
DE Market 2.4% 3% 7.4% -6.2% 9.6% 14.1%
1 Year Return vs Industry and Market
  • MPW underperformed the Professional Services industry which returned 9.9% over the past year.
  • MPW underperformed the Market in Germany which returned -6.2% over the past year.
Price Volatility
MPW
Industry
5yr Volatility vs Market

Value

 Is ManpowerGroup undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of ManpowerGroup to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for ManpowerGroup.

DB:MPW Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:MPW
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Professional Services Unlevered Beta Simply Wall St/ S&P Global 0.87
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.867 (1 + (1- 21%) (23.43%)) 		1.018
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)		 1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.018 * 5.96%) 		6.3%

Discounted Cash Flow Calculation for DB:MPW using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for ManpowerGroup is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:MPW DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.3%)
2019 395.44 Analyst x5 372.02
2020 438.70 Analyst x7 388.27
2021 470.79 Est @ 7.31% 391.99
2022 495.21 Est @ 5.19% 387.91
2023 513.54 Est @ 3.7% 378.44
2024 527.19 Est @ 2.66% 365.49
2025 537.36 Est @ 1.93% 350.47
2026 544.98 Est @ 1.42% 334.39
2027 550.77 Est @ 1.06% 317.93
2028 555.24 Est @ 0.81% 301.52
Present value of next 10 years cash flows $3,588.43
DB:MPW DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $555.24 × (1 + 0.23%) ÷ (6.3% – 0.23%) 		$9,171.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $9,171.57 ÷ (1 + 6.3%)10 		$4,980.64
DB:MPW Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,588.43 + $4,980.64 		$8,569.07
Equity Value per Share
(USD)		 = Total value / Shares Outstanding
= $8,569.07 / 60.04 		$142.72
DB:MPW Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:MPW represents 0.78637x of NYSE:MAN
(This could be a different class, a depositary receipt, a different currency, or all of these things.) 		0.78637x
Value per Share
(Listing Adjusted, EUR)		 = Value per Share (USD) x Listing Adjustment Factor
= $ 142.72 x 0.78637 		€112.23
Value per share (EUR) From above. €112.23
Current discount Discount to share price of €76.31
= -1 x (€76.31 - €112.23) / €112.23 		32%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price ManpowerGroup is available for.
Intrinsic value
32%
Share price is €76.31 vs Future cash flow value of €112.23
Current Discount Checks
For ManpowerGroup to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • ManpowerGroup's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • ManpowerGroup's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for ManpowerGroup's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are ManpowerGroup's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:MPW PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $8.11
NYSE:MAN Share Price ** NYSE (2019-04-18) in USD $97.04
Europe Professional Services Industry PE Ratio Median Figure of 98 Publicly-Listed Professional Services Companies 18x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of ManpowerGroup.

DB:MPW PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MAN Share Price ÷ EPS (both in USD)

= 97.04 ÷ 8.11

 11.97x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ManpowerGroup is good value based on earnings compared to the Europe Professional Services industry average.
  • ManpowerGroup is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does ManpowerGroup's expected growth come at a high price?
Raw Data
DB:MPW PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.97x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts		 2.4%per year
Europe Professional Services Industry PEG Ratio Median Figure of 59 Publicly-Listed Professional Services Companies 1.49x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:MPW PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.97x ÷ 2.4%

 4.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ManpowerGroup is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on ManpowerGroup's assets?
Raw Data
DB:MPW PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $42.15
NYSE:MAN Share Price * NYSE (2019-04-18) in USD $97.04
Europe Professional Services Industry PB Ratio Median Figure of 124 Publicly-Listed Professional Services Companies 2.38x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.85x
DB:MPW PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MAN Share Price ÷ Book Value per Share (both in USD)

= 97.04 ÷ 42.15

 2.3x

* Primary Listing of ManpowerGroup.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • ManpowerGroup is good value based on assets compared to the Europe Professional Services industry average.
Show me more potentially undervalued companies in the Professional Services industry
X
Value checks
We assess ManpowerGroup's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Professional Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Professional Services industry average (and greater than 0)? (1 check)
    5. ManpowerGroup has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is ManpowerGroup expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is ManpowerGroup expected to grow at an attractive rate?
  • ManpowerGroup's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • ManpowerGroup's earnings growth is positive but not above the Germany market average.
  • ManpowerGroup's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:MPW Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:MPW Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 2.4%
DB:MPW Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 3%
Europe Professional Services Industry Earnings Growth Rate Market Cap Weighted Average 9%
Europe Professional Services Industry Revenue Growth Rate Market Cap Weighted Average 5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.5%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:MPW Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 weeks ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:MPW Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 23,370 2
2020-12-31 21,907 520 485 14
2019-12-31 21,438 460 452 9
DB:MPW Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 21,514 643 513
2018-12-31 21,991 483 557
2018-09-30 22,236 415 615
2018-06-30 22,282 429 594
2018-03-31 21,800 152 568
2017-12-31 21,034 401 545
2017-09-30 20,353 485 457
2017-06-30 19,976 486 448
2017-03-31 19,824 626 446
2016-12-31 19,654 600 444
2016-09-30 19,652 631 440
2016-06-30 19,536 735 435

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • ManpowerGroup's earnings are expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).
  • ManpowerGroup's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:MPW Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 weeks ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from ManpowerGroup Company Filings, last reported 2 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MPW Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31
2020-12-31 8.09 8.70 6.78 8.00
2019-12-31 7.54 7.80 7.28 6.00
DB:MPW Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 8.11
2018-12-31 8.62
2018-09-30 9.34
2018-06-30 8.97
2018-03-31 8.51
2017-12-31 8.13
2017-09-30 6.77
2017-06-30 6.61
2017-03-31 6.49
2016-12-31 6.33
2016-09-30 6.14
2016-06-30 5.90

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • ManpowerGroup is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess ManpowerGroup's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
ManpowerGroup has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has ManpowerGroup performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare ManpowerGroup's growth in the last year to its industry (Professional Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • ManpowerGroup's year on year earnings growth rate has been positive over the past 5 years.
  • ManpowerGroup's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • ManpowerGroup's 1-year earnings growth is negative, it can't be compared to the Europe Professional Services industry average.
Earnings and Revenue History
ManpowerGroup's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from ManpowerGroup Company Filings, last reported 2 weeks ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:MPW Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 21,513.70 513.20 2,697.70
2018-12-31 21,991.20 556.70 2,745.80
2018-09-30 22,235.50 614.70 2,779.00
2018-06-30 22,281.60 594.40 2,777.10
2018-03-31 21,799.50 568.00 2,734.20
2017-12-31 21,034.30 545.40 2,661.90
2017-09-30 20,352.90 456.50 2,589.20
2017-06-30 19,976.30 448.00 2,571.80
2017-03-31 19,823.60 446.40 2,579.90
2016-12-31 19,654.10 443.70 2,583.00
2016-09-30 19,651.90 440.20 2,612.30
2016-06-30 19,536.20 434.90 2,602.80
2016-03-31 19,375.40 425.20 2,590.00
2015-12-31 19,329.90 419.20 2,587.10
2015-09-30 19,497.10 412.50 2,612.40
2015-06-30 19,940.60 419.10 2,659.90
2015-03-31 20,401.00 423.20 2,708.90
2014-12-31 20,762.80 427.60 2,759.30
2014-09-30 20,893.80 411.60 2,776.90
2014-06-30 20,666.60 375.80 2,766.70
2014-03-31 20,385.60 334.20 2,754.10
2013-12-31 20,250.50 288.00 2,765.40
2013-09-30 20,201.00 240.10 2,817.50
2013-06-30 20,184.50 208.50 2,870.80
2013-03-31 20,350.50 181.30 2,918.90
2012-12-31 20,678.00 197.60 2,971.50
2012-09-30 20,959.40 207.90 3,010.70
2012-06-30 21,569.40 224.40 3,067.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • ManpowerGroup has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • ManpowerGroup used its assets less efficiently than the Europe Professional Services industry average last year based on Return on Assets.
  • ManpowerGroup's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess ManpowerGroup's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Professional Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
ManpowerGroup has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is ManpowerGroup's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up ManpowerGroup's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • ManpowerGroup is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • ManpowerGroup's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of ManpowerGroup's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 4.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from ManpowerGroup Company Filings, last reported 2 weeks ago.

DB:MPW Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,649.90 1,365.30 566.30
2018-12-31 2,698.50 1,075.40 591.90
2018-09-30 2,810.20 1,078.70 682.60
2018-06-30 2,847.50 1,088.60 767.50
2018-03-31 2,939.00 970.00 552.20
2017-12-31 2,857.60 947.50 689.00
2017-09-30 2,722.70 923.30 666.90
2017-06-30 2,599.40 890.60 573.10
2017-03-31 2,532.10 833.60 724.40
2016-12-31 2,446.40 825.40 598.50
2016-09-30 2,472.80 875.70 503.10
2016-06-30 2,514.80 854.00 546.30
2016-03-31 2,674.70 879.60 747.60
2015-12-31 2,692.50 855.10 730.50
2015-09-30 2,685.20 878.70 652.50
2015-06-30 2,858.00 430.20 465.90
2015-03-31 2,860.40 421.70 627.60
2014-12-31 2,943.00 467.80 699.20
2014-09-30 3,039.90 483.90 660.70
2014-06-30 3,082.40 528.90 638.50
2014-03-31 2,975.80 529.70 696.50
2013-12-31 2,914.20 517.90 737.60
2013-09-30 2,793.40 516.50 488.70
2013-06-30 2,532.50 534.10 280.90
2013-03-31 2,501.10 751.10 583.40
2012-12-31 2,500.80 770.10 648.10
2012-09-30 2,568.40 751.00 444.60
2012-06-30 2,510.90 755.10 454.60
  • ManpowerGroup's level of debt (51.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (17.8% vs 51.5% today).
  • Debt is well covered by operating cash flow (47.1%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 21.5x coverage).
Show me more healthy companies in the Professional Services industry
X
Financial health checks
We assess ManpowerGroup's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
    7. ManpowerGroup has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is ManpowerGroup's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.08%
Current annual income from ManpowerGroup dividends. Estimated to be 2.31% next year.
If you bought €2,000 of ManpowerGroup shares you are expected to receive €42 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • ManpowerGroup's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • ManpowerGroup's dividend is below the markets top 25% of dividend payers in Germany (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:MPW Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Europe Professional Services Industry Average Dividend Yield Market Cap Weighted Average of 77 Stocks 2.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:MPW Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.67 1.00
2020-12-31 2.24 8.00
2019-12-31 2.13 4.00
DB:MPW Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-11-09 2.020 2.606
2018-10-19 2.020 2.616
2018-05-04 2.020 2.277
2017-11-01 1.860 1.544
2017-10-20 1.860 1.508
2017-05-02 1.860 1.689
2016-11-02 1.720 1.835
2016-10-21 1.720 2.217
2016-05-03 1.720 2.406
2015-10-29 1.600 1.975
2015-10-21 1.600 1.843
2015-07-31 1.600 1.838
2015-05-01 1.600 1.813
2014-10-29 0.980 1.328
2014-10-21 0.980 1.522
2014-04-29 0.980 1.264
2013-10-29 0.920 1.155
2013-10-21 0.920 1.168
2013-04-30 0.920 1.458
2012-10-31 0.860 1.835
2012-10-19 0.860 2.239
2012-05-02 0.860 2.348
2011-11-03 0.800 1.956
2011-10-21 0.800 1.871
2011-05-03 0.800 1.752
2010-10-27 0.740 1.187
2010-10-20 0.740 1.324
2010-04-27 0.740 1.558
2009-10-28 0.740 1.360
2009-10-21 0.740 1.456
2009-04-29 0.740 1.556
2009-04-20 0.740 1.843

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of ManpowerGroup's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.7x coverage).
Show me more dividend paying companies in the Professional Services industry
X
Income/ dividend checks
We assess ManpowerGroup's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can ManpowerGroup afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
    7. ManpowerGroup has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of ManpowerGroup's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jonas Prising
COMPENSATION $11,444,010
AGE 53
TENURE AS CEO 4.9 years
CEO Bio

Mr. Jonas Prising has been the Chairman and Chief Executive Officer of ManpowerGroup Inc. since December 31, 2015 and May 1, 2014 respectively. Mr. Prising has been the President of The Americas Operations at Manpower Inc. since January 2009 and also as its Executive Vice President since January 2006. He served as the President of ManpowerGroup Inc. from November 15, 2012 to April 30, 2014 and also served as its Executive Vice President for the Americas & Southern Europe. He runs ManpowerGroup's $12 billion operations in North, Central and South America and Southern Europe. He also has responsibility for Right Management, the global leader in talent and career management workforce solutions within ManpowerGroup, as well as its ManpowerGroup Solutions business. Mr. Prising served as Executive Vice President at Experis US, Inc. He joined ManpowerGroup in 1999. He served as an Executive Vice President at ManpowerGroup Inc. since January 2006 until November 15, 2012. He has been Independent Director at Kohl's Corporation since August 17, 2015. He served as the President of United States and Canadian Operations of Manpower Inc. from January 2006 to December 2008. Mr. Prising served as an Executive Vice President of U S and Canadian Operations and Managing Director of Manpower Italy of Manpower Inc., from January 1, 2006 to December 2008 and from 2002 to January 1, 2006, respectively and also served as Director of Manpower Global Accounts of EMEA from June 1999 to June 2002. He served as President of North America and President of the Americas at Manpower Inc. He joined Manpower in 1999 as Sales Director of EMEA region. Prior to Manpower, he served multiple international management positions with Electrolux from 1989 to May 1999. In addition, he serves as a co-chair of MiKE, an organization focused on supporting innovation and entrepreneurial leadership. A recognized expert on domestic and international labor markets and work trends, Mr. Prising regularly presents at conferences and summits around the world. He serves as a Director of JA Worldwide, JA USA and JA of Wisconsin Inc. He serves as a Director at Junior Achievement, Inc. He has been a Director of ManpowerGroup Inc. since 2014. Mr. Prising has participated in Executive Programs at Stanford, INSEAD and Yale. He holds MBA (equivalent) from the Stockholm School of Economics. He speaks five languages: English, French, German, Swedish and Italian.

CEO Compensation
  • Jonas's compensation has been consistent with company performance over the past year.
  • Jonas's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the ManpowerGroup management team in years:

4.3
Average Tenure
52
Average Age
  • The tenure for the ManpowerGroup management team is about average.
Management Team

Jonas Prising

TITLE
Chairman & CEO
COMPENSATION
$11M
AGE
53
TENURE
4.9 yrs

Jack McGinnis

TITLE
Executive VP
COMPENSATION
$4M
AGE
51
TENURE
3.2 yrs

Richard Buchband

TITLE
Senior VP
COMPENSATION
$2M
AGE
54
TENURE
6.3 yrs

Mara Swan

TITLE
Executive Vice President of Global Strategy & Talent
COMPENSATION
$2M
AGE
58

Ram Chandrashekar

TITLE
Executive Vice President of Operational Excellence
COMPENSATION
$3M
AGE
51
TENURE
5.2 yrs

Donald Mondano

TITLE
Senior VP
AGE
46
TENURE
0.7 yrs

Ganesh Ramakrishnan

TITLE
Chief Technology Officer
TENURE
4.3 yrs

April Dunn

TITLE
Senior VP & Chief Marketing Officer
TENURE
1.9 yrs

Stefano Scabbio

TITLE
President of Northern Europe
TENURE
16.3 yrs

Michael Stull

TITLE
Senior Vice President of North America
TENURE
2.3 yrs
Board of Directors Tenure

Average tenure and age of the ManpowerGroup board of directors in years:

8.3
Average Tenure
62.5
Average Age
  • The tenure for the ManpowerGroup board of directors is about average.
Board of Directors

Jonas Prising

TITLE
Chairman & CEO
COMPENSATION
$11M
AGE
53
TENURE
3.3 yrs

Gina Boswell

TITLE
Independent Director
COMPENSATION
$282K
AGE
55
TENURE
12.2 yrs

Bill Downe

TITLE
Lead Director
COMPENSATION
$345K
AGE
65
TENURE
1.9 yrs

Pat Hemingway Hall

TITLE
Independent Director
COMPENSATION
$294K
AGE
65
TENURE
8 yrs

Paul Read

TITLE
Independent Director
COMPENSATION
$291K
AGE
52
TENURE
4.3 yrs

John Walter

TITLE
Independent Director
COMPENSATION
$304K
AGE
71
TENURE
20.5 yrs

Mike Van Handel

TITLE
Director
COMPENSATION
$278K
AGE
58
TENURE
1.3 yrs

Cari Dominguez

TITLE
Independent Director
COMPENSATION
$275K
AGE
66
TENURE
11.9 yrs

Ulice Payne

TITLE
Independent Director
COMPENSATION
$283K
AGE
62
TENURE
11.5 yrs

Libby Sartain

TITLE
Independent Director
COMPENSATION
$275K
AGE
63
TENURE
8.7 yrs
Who owns this company?
Recent Insider Trading
  • ManpowerGroup insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
25. Feb 19 Sell Sriram Chandrashekar Individual 21. Feb 19 21. Feb 19 -14,706 €74.91 €-1,101,586
25. Feb 19 Sell Ulice Payne Individual 21. Feb 19 21. Feb 19 -1,750 €75.35 €-131,860
13. Feb 19 Sell Richard Buchband Individual 12. Feb 19 12. Feb 19 -3,471 €73.48 €-255,048
29. Nov 18 Buy William Downe Individual 28. Nov 18 28. Nov 18 4,000 €71.98 €287,906
16. Nov 18 Sell John Walter Individual 15. Nov 18 15. Nov 18 -7,403 €68.71 €-508,693
05. Sep 18 Sell Mara Swan Individual 31. Aug 18 31. Aug 18 -11,192 €80.78 €-904,122
10. Aug 18 Sell Ulice Payne Individual 10. Aug 18 10. Aug 18 -1,350 €78.33 €-105,748
X
Management checks
We assess ManpowerGroup's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
    5. ManpowerGroup has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

ManpowerGroup Inc. provides workforce solutions and services in the Americas, Southern Europe, Northern Europe, and the Asia Pacific Middle East region. The company offers recruitment services, including permanent, temporary, and contract recruitment of professionals, as well as administrative and industrial positions under the Manpower and Experis brands. It also offers various assessment services; training and development services; career management; and outsourcing services related to human resources functions primarily in the areas of large-scale recruiting and workforce-intensive initiatives. In addition, the company provides workforce consulting services; contingent staffing and permanent recruitment services; professional resourcing and project-based solutions in information technology, engineering, and finance fields; solutions in the areas of organizational efficiency, individual development, and career mobility; and recruitment process outsourcing, TAPFIN managed, and talent based outsourcing services, as well as Proservia services in the areas of digital services market and IT infrastructure sector. It operates through a network of approximately 2,600 offices in 80 countries and territories. The company was founded in 1948 and is based in Milwaukee, Wisconsin.

Details
Name: ManpowerGroup Inc.
MPW
Exchange: DB
Founded: 1948
$5,180,710,270
60,039,776
Website: http://www.manpowergroup.com
Address: ManpowerGroup Inc.
100 Manpower Place,
Milwaukee,
Wisconsin, 53212,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MAN Common Stock New York Stock Exchange US USD 09. May 1991
DB MPW Common Stock Deutsche Boerse AG DE EUR 09. May 1991
Number of employees
Current staff
Staff numbers
30,000
ManpowerGroup employees.
Industry
Human Resource and Employment Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 20:47
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/19
Last earnings filing: 2019/04/18
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Related Companies

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