Hays Past Earnings Performance
Past criteria checks 0/6
Hays's earnings have been declining at an average annual rate of -54%, while the Professional Services industry saw earnings growing at 9.6% annually. Revenues have been growing at an average rate of 1% per year.
Key information
-53.99%
Earnings growth rate
-53.58%
EPS growth rate
| Professional Services Industry Growth | 12.81% |
| Revenue growth rate | 0.98% |
| Return on equity | -14.42% |
| Net Margin | -0.91% |
| Next Earnings Update | 26 Feb 2027 |
Recent past performance updates
Recent updates
Narrative Update • Aug 21
HAS: Elevated P/E And Thin Margins Will Pressure Shares Ahead
Analysts have raised their price target for Hays from £0.47 to £0.57, citing updated assumptions around revenue growth, profit margins, the discount rate, and future P/E as the key drivers of the change. What’s in the News for Hays No recent Hays specific news was identified in the provided sources as of 19 Aug 2026.
Narrative Update • Aug 07
HAS: Softer Revenue Outlook Will Pressure Margins Under New Leadership
Analysts have trimmed their price target on Hays to reflect a lower fair value estimate of £0.28, down from £0.50, citing a softer outlook for revenue growth, a reduced profit margin profile and a higher discount rate that offsets the effect of a slightly richer future P/E assumption. What’s in the News for Hays Hays plc appointed Mark Dearnley as Chief Executive Officer with immediate effect on 18 May 2026, following his period as interim CEO since 27 February 2026.Narrative Update • Jul 24
HAS: Downgrade And Weakening Margins Will Pressure Shares Despite New CEO
Analysts have trimmed their Hays price target to £0.41 from £0.47, citing a lower fair value estimate and expectations for a higher future P/E. The revision also reflects changes to discount rate, revenue growth and profit margin assumptions.
Narrative Update • Jul 09
HAS: Discounted P E And Margin Resilience Could Drive Re Rating
Analysts have trimmed their fair value estimate and reduced the implied future P/E for Hays, cutting the consolidated price target by £0.40. This reflects a higher discount rate, more modest revenue growth expectations, and only a slight adjustment to long term profit margins following recent broker downgrades.Narrative Update • Jun 25
HAS: Recent Downgrade And New CEO Appointment Will Support Margin Stability
Analysts have trimmed their price targets on Hays, with recent cuts such as a £0.05 reduction highlighted in Street research. These changes reflect updated expectations for revenue trends, margins and valuation multiples.Narrative Update • Jun 10
HAS: Recent Downgrade And New CEO Appointment Will Support Earnings Recovery
Analysts have trimmed their fair value estimate for Hays from £0.42 to £0.41. This reflects recent price target cuts and more cautious assumptions on revenue trends, profit margins and future P/E multiples.Narrative Update • May 27
HAS: Recent Downgrade And New CEO Appointment Will Support Earnings Recovery
Analysts have trimmed their fair value estimate for Hays from £0.47 to £0.42. This reflects lower price targets after recent research updates that point to softer revenue trends, slightly weaker profit margins and a modestly higher required return, even as future P/E expectations remain broadly similar.Narrative Update • May 08
HAS: Recent Downgrade And Leadership Change Will Set Up Earnings Recovery
Analysts have reduced their price target on Hays by £0.05. This reflects a slightly lower fair value estimate, a modest adjustment to the discount rate and revenue outlook, and a lower assumed future P/E following recent target cuts and a downgrade from the Street.Narrative Update • Apr 21
HAS: Trimmed Expectations And Leadership Transition Will Underpin Future Earnings Recovery
Analysts have trimmed their price targets on Hays, including a £0.05 reduction reported in recent Street research. This reflects updated views on fair value, discount rate, revenue growth, profit margins and future P/E assumptions.Narrative Update • Apr 06
HAS: Lowered Street Expectations Will Set Up Future Earnings Recovery
Analysts have trimmed their average price targets on Hays to around £0.60. This reflects slightly higher discount rate assumptions, softer revenue expectations, modestly lower profit margin forecasts and a marginally higher future P/E, in line with recent downward revisions and rating changes across the Street.Narrative Update • Mar 23
HAS: Cyclical And Structural Pressures Will Set Up Future Earnings Recovery
Narrative update on Hays Analysts have cut Hays’ average price target by around £0.04. This reflects recent reductions in formal targets from firms such as Morgan Stanley, RBC Capital and Jefferies as they factor in tougher cyclical and structural conditions and a slightly higher assumed P/E multiple.Narrative Update • Mar 09
HAS: Lowered Expectations Will Support Future Earnings Rebound As Cyclical Pressures Ease
Narrative update on Hays The analyst price target for Hays has moved lower, with recent cuts of £0.06 and £0.10 and a reset to £0.44, as analysts factor in higher required returns, weaker revenue expectations, a different earnings path and a lower assumed future P/E of about 12x for the sector. Analyst Commentary Recent research on Hays has turned more cautious, with multiple firms trimming price targets and one moving to a more negative rating while setting a £0.44 target.Narrative Update • Feb 22
HAS: Lowered Expectations Will Support Future Rebound As Cyclical Pressures Ease
Narrative Update The analyst price target for Hays has been cut, with recent moves including reductions such as £0.06 and £0.10 alongside a downgrade to Underperform. Analysts point to ongoing cyclical headwinds combined with structural challenges that they state are expected to keep earnings subdued for longer.Analysis Article • Feb 11
These Return Metrics Don't Make Hays (LON:HAS) Look Too Strong
If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? Businesses...Narrative Update • Feb 07
HAS: Higher Future P/E Assumptions Will Offset Sector Headwinds
Analysts have trimmed their price targets for Hays by £0.06 to reflect slightly higher discount rate assumptions and ongoing sector headwinds highlighted in recent research, including multiple target cuts and a downgrade to Underperform. Analyst Commentary Recent research on Hays has tilted clearly cautious, with several firms trimming price targets and one moving to an Underperform rating, all pointing to a tougher backdrop for the European Business and Employment Services sector.Narrative Update • Jan 24
HAS: Higher Future P/E Assumptions Will Support Shares Despite Earnings Headwinds
Analysts have trimmed their price targets for Hays by about 6 to 17 GBp, pointing to weaker revenue growth expectations, slightly lower profit margin assumptions and a higher future P/E multiple as key drivers of the change in fair value. Analyst Commentary Recent research updates on Hays point to a more cautious tone, with several firms cutting price targets and, in one case, moving to a more negative rating.Narrative Update • Jan 09
HAS: Share Buyback And CEO Return Will Support Shares Despite Cautious Views
Analysts have trimmed their average price target for Hays to £0.44 from £0.61, reflecting concerns that cyclical headwinds and structural challenges could keep earnings subdued for longer, even though some still see limited upside with a £0.55 target. Analyst Commentary Recent research on Hays points to a mixed backdrop, with some analysts focusing on valuation support and others highlighting ongoing cyclical and structural pressures that could weigh on execution and earnings visibility.Narrative Update • Dec 26
HAS: Higher Price View And Buyback Will Support Shares Despite Cautious Rating
Analysts have modestly raised their price target on Hays to 55 GBp from 52 GBp, reflecting a slightly more constructive view on the company while still remaining cautious overall. Analyst Commentary Analysts describe the latest target increase as a measured adjustment that acknowledges incremental improvements while still highlighting lingering concerns about the company’s outlook and execution risks.Narrative Update • Dec 12
HAS: Higher Multiple And Buyback Will Support Shares Despite Cautious Rating
The analyst price target for Hays has been raised from 52 GBp to 55 GBp, as analysts point to a slightly higher future price-to-earnings multiple offsetting more conservative assumptions on growth, margins and discount rate. Analyst Commentary Bullish analysts view the modest increase in the price target as confirmation that the company can sustain earnings despite a tougher macro backdrop, with valuation supported by a slightly higher price to earnings multiple.Analysis Article • Dec 07
Hays plc's (LON:HAS) Share Price Is Matching Sentiment Around Its Revenues
With a price-to-sales (or "P/S") ratio of 0.1x Hays plc ( LON:HAS ) may be sending bullish signals at the moment, given...Narrative Update • Nov 28
HAS: Share Buyback And Leadership Stability Will Drive Confidence Amid Upgraded Outlook
Analysts have modestly raised their price target for Hays, increasing it by £0.03 to £0.55. They cite updated expectations on sector performance and company outlook as reasons for this adjustment.Narrative Update • Nov 13
HAS: Improved Margins And Share Buyback Will Drive Prospects Amid Leadership Change
Hays’ analyst price target saw a modest increase to 55 GBp, up from 52 GBp. Analysts cite improved profit margin assumptions and revised market expectations. Analyst Commentary Recent analyst activity regarding Hays has reflected a shifting sentiment in response to the company's updated performance and outlook.Narrative Update • Oct 30
HAS: Labor Market Recovery Will Drive Upside Following Recent Buyback Plan
Hays' analyst price target increased slightly in recent updates, rising to 55 GBp from 52 GBp as analysts pointed to moderate adjustments based on refined discount rate assumptions and mixed sector outlooks. Analyst Commentary Recent analyst research on Hays presents a mixed outlook, with both positive and cautious perspectives reflected in updated ratings and price targets.Narrative Update • Oct 16
Digital Transformation And Diversification Will Strengthen Future Prospects
Analysts have slightly reduced their fair value estimate for Hays, lowering the price target by £0.04 to £0.75. This reflects more cautious expectations for revenue growth and profit margins in light of recent sector downgrades and softer labor market outlooks.New Narrative • Aug 09
Global Talent And Digital Solutions Will Shape Future Staffing
Focus on specialized, high-demand sectors and flexible staffing solutions supports resilient, diversified growth and improved margins as market conditions normalize.Analysis Article • Aug 02
Hays plc's (LON:HAS) Revenues Are Not Doing Enough For Some Investors
When close to half the companies operating in the Professional Services industry in the United Kingdom have...Analysis Article • Jul 10
Is Now The Time To Look At Buying Hays plc (LON:HAS)?
Hays plc ( LON:HAS ), might not be a large cap stock, but it received a lot of attention from a substantial price...Analysis Article • Jun 11
Some Investors May Be Worried About Hays' (LON:HAS) Returns On Capital
When researching a stock for investment, what can tell us that the company is in decline? A business that's potentially...Analysis Article • Apr 26
Investors Don't See Light At End Of Hays plc's (LON:HAS) Tunnel
With a price-to-sales (or "P/S") ratio of 0.2x Hays plc ( LON:HAS ) may be sending bullish signals at the moment, given...Analysis Article • Feb 23
Hays' (LON:HAS) Dividend Will Be £0.0095
The board of Hays plc ( LON:HAS ) has announced that it will pay a dividend of £0.0095 per share on the 9th of April...Analysis Article • Feb 21
An Intrinsic Calculation For Hays plc (LON:HAS) Suggests It's 28% Undervalued
Key Insights The projected fair value for Hays is UK£1.00 based on 2 Stage Free Cash Flow to Equity Hays' UK£0.72 share...Analysis Article • Jan 17
Returns On Capital Signal Difficult Times Ahead For Hays (LON:HAS)
When researching a stock for investment, what can tell us that the company is in decline? When we see a declining...Analysis Article • Nov 28
Improved Revenues Required Before Hays plc (LON:HAS) Shares Find Their Feet
You may think that with a price-to-sales (or "P/S") ratio of 0.2x Hays plc ( LON:HAS ) is a stock worth checking out...Analysis Article • Oct 20
Is There An Opportunity With Hays plc's (LON:HAS) 23% Undervaluation?
Key Insights Hays' estimated fair value is UK£1.07 based on 2 Stage Free Cash Flow to Equity Current share price of...Analysis Article • Aug 08
Hays plc's (LON:HAS) Share Price Could Signal Some Risk
It's not a stretch to say that Hays plc's ( LON:HAS ) price-to-earnings (or "P/E") ratio of 17.3x right now seems quite...Analysis Article • Jul 17
What Does Hays plc's (LON:HAS) Share Price Indicate?
Hays plc ( LON:HAS ), is not the largest company out there, but it received a lot of attention from a substantial price...Analysis Article • Jun 14
Here's What's Concerning About Hays' (LON:HAS) Returns On Capital
When we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...Analysis Article • Apr 09
A Look At The Intrinsic Value Of Hays plc (LON:HAS)
Key Insights The projected fair value for Hays is UK£1.05 based on 2 Stage Free Cash Flow to Equity Current share price...Analysis Article • Mar 15
Should You Think About Buying Hays plc (LON:HAS) Now?
Hays plc ( LON:HAS ), might not be a large cap stock, but it saw significant share price movement during recent months...Analysis Article • Feb 08
Hays' (LON:HAS) Returns On Capital Not Reflecting Well On The Business
Ignoring the stock price of a company, what are the underlying trends that tell us a business is past the growth phase...Analysis Article • Nov 02
Hays (LON:HAS) Could Be At Risk Of Shrinking As A Company
What underlying fundamental trends can indicate that a company might be in decline? Businesses in decline often have...Analysis Article • Oct 14
We Think Hays (LON:HAS) Can Stay On Top Of Its Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Hays makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 30 Jun 26 | 6,421 | -58 | 173 | 0 |
| 31 Mar 26 | 6,458 | -34 | 147 | 0 |
| 31 Dec 25 | 6,494 | -10 | 122 | 0 |
| 30 Sep 25 | 6,551 | -9 | 141 | 0 |
| 30 Jun 25 | 6,607 | -8 | 160 | 0 |
| 31 Mar 25 | 6,692 | -11 | 130 | 0 |
| 31 Dec 24 | 6,776 | -14 | 100 | 0 |
| 30 Sep 24 | 6,863 | -10 | 126 | 0 |
| 30 Jun 24 | 6,949 | -5 | 153 | 0 |
| 31 Mar 24 | 7,116 | 40 | 142 | 0 |
| 31 Dec 23 | 7,282 | 84 | 131 | 0 |
| 30 Sep 23 | 7,433 | 111 | 147 | 0 |
| 30 Jun 23 | 7,583 | 138 | 162 | 0 |
| 31 Mar 23 | 7,473 | 145 | 198 | 0 |
| 31 Dec 22 | 7,362 | 153 | 234 | 0 |
| 30 Sep 22 | 6,975 | 153 | 189 | 0 |
| 30 Jun 22 | 6,589 | 154 | 145 | 0 |
| 31 Mar 22 | 6,275 | 136 | 171 | 0 |
| 31 Dec 21 | 5,960 | 117 | 197 | 0 |
| 30 Sep 21 | 5,804 | 89 | 164 | 0 |
| 30 Jun 21 | 5,648 | 62 | 131 | 0 |
| 31 Mar 21 | 5,614 | 27 | 113 | 0 |
| 31 Dec 20 | 5,580 | -7 | 95 | 0 |
| 30 Sep 20 | 5,755 | 20 | 123 | 0 |
| 30 Jun 20 | 5,930 | 48 | 151 | 0 |
| 31 Mar 20 | 6,035 | 96 | 396 | 0 |
| 31 Dec 19 | 6,140 | 144 | 642 | 0 |
| 30 Sep 19 | 6,105 | 153 | 415 | 0 |
| 30 Jun 19 | 6,071 | 162 | 188 | 0 |
| 31 Mar 19 | 6,015 | 167 | 183 | 0 |
| 31 Dec 18 | 5,960 | 173 | 178 | 0 |
| 30 Sep 18 | 5,857 | 169 | 178 | 0 |
| 30 Jun 18 | 5,753 | 166 | 179 | 0 |
| 31 Mar 18 | 5,589 | 159 | 169 | 0 |
| 31 Dec 17 | 5,425 | 152 | 158 | 0 |
| 30 Sep 17 | 5,253 | 145 | 158 | 0 |
| 30 Jun 17 | 5,081 | 139 | 158 | 0 |
| 31 Dec 16 | 4,672 | 130 | 130 | 0 |
| 30 Sep 16 | 4,452 | 125 | 131 | 0 |
| 30 Jun 16 | 4,231 | 121 | 131 | 0 |
| 31 Dec 15 | 3,975 | 111 | 137 | 0 |
| 30 Sep 15 | 3,909 | 108 | 137 | 0 |
Quality Earnings: HAS is currently unprofitable.
Growing Profit Margin: HAS is currently unprofitable.
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: HAS is unprofitable, and losses have increased over the past 5 years at a rate of 54% per year.
Accelerating Growth: Unable to compare HAS's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: HAS is unprofitable, making it difficult to compare its past year earnings growth to the Professional Services industry (14.7%).
Return on Equity
High ROE: HAS has a negative Return on Equity (-14.42%), as it is currently unprofitable.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/08/24 03:33 |
| End of Day Share Price | 2026/08/21 00:00 |
| Earnings | 2026/06/30 |
| Annual Earnings | 2026/06/30 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
| |
| Management | 10 years |
| |
| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
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.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Hays plc is covered by 23 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Paul Daniel Sullivan | Barclays |
| Afonso Osorio | Barclays |
| James Rowland Clark | Barclays |