ManpowerGroup
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 28 days ago. More info.
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MAN Share Price and Events
7 Day Returns
1 Year Returns
MAN Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| ManpowerGroup (MAN) | -4.4% | -4.5% | 25.9% | -27.6% | 1.1% | 5.1% |
| US Professional Services | 0.2% | 2.1% | 22.9% | 7.1% | 34.9% | 50.8% |
| US Market | 0.4% | 1.6% | 16.4% | 3.5% | 39.4% | 44% |
1 Year Return vs Industry and Market
- MAN underperformed the Professional Services industry which returned 7.1% over the past year.
- MAN underperformed the Market in United States of America which returned 3.5% over the past year.
MAN 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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for ManpowerGroup.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 13 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.2% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Professional Services Unlevered Beta | Simply Wall St/ S&P Global | 0.96 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.959 (1 + (1- 21%) (22.18%)) |
1.085 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.08 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.085 * 5.96%) |
9.2% |
Discounted Cash Flow Calculation for NYSE:MAN 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.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 9.2%) |
|
|---|---|---|---|
| 2019 | 376.53 | Analyst x3 | 344.82 |
| 2020 | 439.52 | Analyst x5 | 368.61 |
| 2021 | 462.48 | Est @ 5.22% | 355.20 |
| 2022 | 483.18 | Est @ 4.48% | 339.85 |
| 2023 | 502.27 | Est @ 3.95% | 323.53 |
| 2024 | 520.28 | Est @ 3.59% | 306.91 |
| 2025 | 537.60 | Est @ 3.33% | 290.42 |
| 2026 | 554.53 | Est @ 3.15% | 274.33 |
| 2027 | 571.29 | Est @ 3.02% | 258.83 |
| 2028 | 588.06 | Est @ 2.94% | 243.99 |
| Present value of next 10 years cash flows | $3,106.48 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $588.06 × (1 + 2.73%) ÷ (9.2% – 2.73%) |
$9,343.47 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $9,343.47 ÷ (1 + 9.2%)10 |
$3,876.64 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $3,106.48 + $3,876.64 |
$6,983.12 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $6,983.12 / 60.04 |
$116.31 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $116.31 |
| Current discount | Discount to share price of
$80.75
= -1 x ($80.75 - $116.31) / $116.31 |
30.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- 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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $8.62 |
| NYSE:MAN Share Price ** | NYSE (2019-03-22) in USD | $80.75 |
| United States of America Professional Services Industry PE Ratio | Median Figure of 35 Publicly-Listed Professional Services Companies | 22.55x |
| United States of America Market PE Ratio | Median Figure of 3,058 Publicly-Listed Companies | 17.52x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of ManpowerGroup.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:MAN Share Price ÷ EPS (both in USD) = 80.75 ÷ 8.62 |
9.37x |
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 US Professional Services industry average.
- ManpowerGroup is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
ManpowerGroup's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 9.37x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts |
-7.2%per year |
| United States of America Professional Services Industry PEG Ratio | Median Figure of 32 Publicly-Listed Professional Services Companies | 1.61x |
| United States of America Market PEG Ratio | Median Figure of 2,103 Publicly-Listed Companies | 1.48x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 9.37x ÷ -7.2% |
-1.3x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- ManpowerGroup earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
ManpowerGroup's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $43.21 |
| NYSE:MAN Share Price * | NYSE (2019-03-22) in USD | $80.75 |
| United States of America Professional Services Industry PB Ratio | Median Figure of 56 Publicly-Listed Professional Services Companies | 2.26x |
| United States of America Market PB Ratio | Median Figure of 5,157 Publicly-Listed Companies | 1.88x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:MAN Share Price ÷ Book Value per Share (both in USD) = 80.75 ÷ 43.21 |
1.87x |
* 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 US Professional Services industry average.
Value checks
We assess ManpowerGroup's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Professional Services industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Professional Services industry average (and greater than 0)? (1 check) 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.
MAN Future Performance
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!
Earnings growth vs Low Risk Savings
- ManpowerGroup's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
- ManpowerGroup's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
- ManpowerGroup's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:MAN Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts | -7.2% |
| NYSE:MAN Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts | 0.4% |
| United States of America Professional Services Industry Earnings Growth Rate | Market Cap Weighted Average | 21.4% |
| United States of America Professional Services Industry Revenue Growth Rate | Market Cap Weighted Average | 5.2% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.3% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.2% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 23,386 | 2 | ||
| 2020-12-31 | 21,684 | 534 | 484 | 13 |
| 2019-12-31 | 21,169 | 525 | 470 | 13 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 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 |
| 2016-03-31 | 19,375 | 654 | 425 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
All data from ManpowerGroup Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | ||||
| 2020-12-31 | 8.05 | 8.48 | 6.78 | 7.00 |
| 2019-12-31 | 7.69 | 7.85 | 7.50 | 6.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 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 |
| 2016-03-31 | 5.64 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess ManpowerGroup's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
ManpowerGroup has a total score of 0/6, 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.
MAN 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
Past Earnings growth analysis
- ManpowerGroup's year on year earnings growth rate has been positive over the past 5 years.
- ManpowerGroup's 1-year earnings growth is less than its 5-year average (2.1% vs 10.6%)
- ManpowerGroup's earnings growth has not exceeded the US Professional Services industry average in the past year (2.1% vs 19.6%).
Earnings and Revenue History
All data from ManpowerGroup Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 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 | |
| 2012-03-31 | 22,030.00 | 256.10 | 3,140.70 |
*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 efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- ManpowerGroup used its assets more efficiently than the US Professional Services industry average last year based on Return on Assets.
- ManpowerGroup has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess ManpowerGroup's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Professional Services industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
ManpowerGroup has a total score of 4/6, 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.
MAN 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.
- 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
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 5.6x 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.
All data from ManpowerGroup Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 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 |
| 2012-03-31 | 2,568.50 | 721.80 | 553.50 |
- ManpowerGroup's level of debt (39.9%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (17.8% vs 39.9% today).
- Debt is well covered by operating cash flow (44.9%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 20.3x coverage).
Financial health checks
We assess ManpowerGroup's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) ManpowerGroup has a total score of 5/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
MAN 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
If you bought
$2,000 of
ManpowerGroup
shares you are expected to receive
$50
in your first year as a dividend.
Dividend Amount
- ManpowerGroup's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
- ManpowerGroup's dividend is below the markets top 25% of dividend payers in United States of America (3.67%).
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.
| 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 13 Analyst Estimates (S&P Global) | See Below |
| United States of America Professional Services Industry Average Dividend Yield | Market Cap Weighted Average of 20 Stocks | 1.6% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2006 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America 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.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 2.67 | 1.00 |
| 2020-12-31 | 2.27 | 7.00 |
| 2019-12-31 | 2.12 | 7.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2018-11-09 | 2.020 | 2.654 |
| 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 |
| 2009-03-23 | 0.740 | 2.113 |
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 (4.3x coverage).
- Dividends after 3 years are expected to be well covered by earnings (3.6x coverage).
Income/ dividend checks
We assess ManpowerGroup's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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.
MAN Management
CEO
| COMPENSATION | $11,444,010 |
| AGE | 53 |
| TENURE AS CEO | 4.8 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 United States of America.
Management Team Tenure
Average tenure and age of the ManpowerGroup management team in years:
- The tenure for the ManpowerGroup management team is about average.
Management Team
Jonas Prising
Chairman & CEO
$11M
53
4.8 yrs
Jack McGinnis
Executive VP
$4M
51
3.1 yrs
Richard Buchband
Senior VP
$2M
54
6.2 yrs
Mara Swan
Executive Vice President of Global Strategy & Talent
$2M
58
Ram Chandrashekar
Executive Vice President of Operational Excellence
$3M
51
5.1 yrs
Donald Mondano
Senior VP
46
0.6 yrs
Ganesh Ramakrishnan
Chief Technology Officer
4.2 yrs
April Dunn
Senior VP & Chief Marketing Officer
1.8 yrs
Stefano Scabbio
President of Northern Europe
16.2 yrs
Michael Stull
Senior Vice President of North America
2.3 yrs
Board of Directors Tenure
Average tenure and age of the ManpowerGroup board of directors in years:
- The tenure for the ManpowerGroup board of directors is about average.
Board of Directors
Jonas Prising
Chairman & CEO
$11M
53
3.3 yrs
Gina Boswell
Independent Director
$282K
55
12.1 yrs
Bill Downe
Lead Director
$345K
65
1.8 yrs
Pat Hemingway Hall
Independent Director
$294K
65
7.9 yrs
Paul Read
Independent Director
$291K
52
4.3 yrs
John Walter
Independent Director
$304K
71
20.4 yrs
Mike Van Handel
Director
$278K
58
1.3 yrs
Cari Dominguez
Independent Director
$275K
66
11.8 yrs
Ulice Payne
Independent Director
$283K
62
11.4 yrs
Libby Sartain
Independent Director
$275K
63
8.6 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 25. Feb 19 | Sell | Sriram Chandrashekar | Individual | 21. Feb 19 | 21. Feb 19 | -14,706 | $84.90 | $-1,248,539 | ||
| 25. Feb 19 | Sell | Ulice Payne | Individual | 21. Feb 19 | 21. Feb 19 | -1,750 | $85.40 | $-149,450 | ||
| 13. Feb 19 | Sell | Richard Buchband | Individual | 12. Feb 19 | 12. Feb 19 | -3,471 | $83.15 | $-288,614 | ||
| 29. Nov 18 | Buy | William Downe | Individual | 28. Nov 18 | 28. Nov 18 | 4,000 | $81.21 | $324,840 | ||
| 16. Nov 18 | Sell | John Walter | Individual | 15. Nov 18 | 15. Nov 18 | -7,403 | $77.74 | $-575,509 | ||
| 05. Sep 18 | Sell | Mara Swan | Individual | 31. Aug 18 | 31. Aug 18 | -11,192 | $93.77 | $-1,049,474 | ||
| 10. Aug 18 | Sell | Ulice Payne | Individual | 10. Aug 18 | 10. Aug 18 | -1,350 | $89.43 | $-120,731 | ||
Management checks
We assess ManpowerGroup's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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.
MAN News
Simply Wall St News
Why ManpowerGroup Inc. (NYSE:MAN) Looks Like A Quality Company
With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every $1 worth of shareholders' equity, it generated $0.21 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleDid Changing Sentiment Drive ManpowerGroup's Share Price Down By 29%?
One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Even though the ManpowerGroup share price is down over the year, its EPS actually improved. … Since the fundamental metrics don't readily explain the share price drop, there might be an opportunity if the market has overreacted.
Simply Wall St - – Full articleEstimating The Fair Value Of ManpowerGroup Inc. (NYSE:MAN)
by taking the expected future cash flows and discounting them to their present value. … discounted cash flows (DCF) … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model.
Simply Wall St - – Full articleDoes ManpowerGroup Inc.'s (NYSE:MAN) CEO Salary Compare Well With Others?
This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. … How Does Jonas Prising's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleManpowerGroup Inc. (NYSE:MAN) Is An Attractive Dividend Stock, Here's Why
The stock currently pays out a dividend yield of 2.6%, and has a market cap of US$4.9b. … Does ManpowerGroup tick all the boxes of a great dividend stock? … View our latest analysis for ManpowerGroup
Simply Wall St - – Full articleA Spotlight On ManpowerGroup Inc.'s (NYSE:MAN) Fundamentals
As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.
Simply Wall St - – Full articleDo You Like ManpowerGroup Inc. (NYSE:MAN) At This P/E Ratio?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios). … We'll show how you can use ManpowerGroup Inc.'s (NYSE:MAN) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleManpowerGroup Inc. (NYSE:MAN) Insiders Have Been Selling
But logic dictates you should pay some attention to whether insiders are buying or selling shares. … So it may not tell us anything about how insiders feel about the current share price. … But the selling was at much higher prices than the current share price (US$66.87), so it probably doesn't tell us a lot about the value on offer today.
Simply Wall St - – Full articleAt US$66.57, Is It Time To Put ManpowerGroup Inc. (NYSE:MAN) On Your Watch List?
saw significant share price movement during recent months on the NYSE, rising to highs of $88.68 and falling to the lows of $66.57. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … Let’s take a look at ManpowerGroup’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change
Simply Wall St - – Full articleHow Does ManpowerGroup Inc.'s (NYSE:MAN) Earnings Growth Stack Up Against Industry Performance?
When ManpowerGroup Inc.'s (NYSE:MAN) announced its latest earnings (30 September 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were ManpowerGroup's average earnings over the past couple of years, and its industry performance. … MAN's trailing twelve-month earnings (from 30 September 2018) of US$615m has
Simply Wall St - – Full articleMAN 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. |
| MAN | |
| Exchange: | NYSE |
| Founded: | 1948 |
| $4,848,211,912 | |
| 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
Industry
| Human Resource and Employment Services | |
| Commercial Services |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/22 23:38 |
| End of day share price update: | 2019/03/22 00:00 |
| Last estimates confirmation: | 2019/03/21 |
| Last earnings filing: | 2019/02/22 |
| Last earnings reported: | 2018/12/31 |
| 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.
