MAN Financials ManpowerGroup

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Nov 1, 2026, 10:31 UTC Overview →

Growth & profitability

Revenue has declined 0.0% per year over the past 5 years.
Operating margin has been roughly flat, at 0.8% in the latest year.

Financial health

Total debt ($1.7B) exceeds cash ($871M); net debt is $806M.
Total debt has grown faster than revenue (8.3% vs -0.0% per year).
Operating income covered interest expense -1.6× in the latest year, down from 4.3× 5 years ago.
Total debt is 7.1× EBITDA.
The company is unprofitable; at its current free-cash-flow burn it has roughly 5.4 years of cash runway.

Shareholder returns

Dividends have been paid for 7 consecutive years.
The dividend has declined 12.4% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$18.0B	-$13M	16.7%	0.8%	-0.6%	-0.1%	-$161M	$1.7B	$871M
2024	$17.9B	$145M	17.3%	1.7%	6.8%	1.8%	$258M	$953M	$509M
2023	$18.9B	$89M	17.8%	1.4%	4.0%	1.0%	$270M	$1.0B	$581M
2022	$19.8B	$374M	18.0%	2.9%	15.3%	4.1%	$348M	$987M	$639M
2021	$20.7B	$382M	16.4%	2.8%	15.2%	3.9%	$581M	$1.1B	$848M
2020	$18.0B	$24M	15.7%	1.0%	1.0%	0.3%	$886M	$1.1B	$1.6B
2019	$20.9B	$466M	16.2%	3.1%	17.0%	5.0%	$762M	$1.1B	$1.0B
2018	$22.0B	$557M	16.3%	3.6%	21.2%	6.5%	$418M	$1.1B	$592M
2017	$21.0B	$545M	16.6%	3.8%	19.7%	6.1%	$346M	$948M	$689M
2016	$19.7B	$444M	17.0%	3.8%	18.8%	5.9%	—	$825M	$599M
2015	—	$419M	—	—	16.0%	5.6%	—	$855M	$731M
2014	—	$428M	—	—	14.5%	6.0%	—	$468M	$699M
2013	—	$288M	—	—	9.9%	4.0%	$352M	$518M	$738M
2012	—	$198M	—	—	7.9%	2.8%	$260M	$770M	$648M
2011	—	$252M	—	—	10.1%	3.6%	$4M	$700M	$581M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Sep '26	$4.8B	$34M	15.9%	1.7%	1.6%	0.4%	-$17M	—	$233M
Jun '26	$4.9B	$54M	16.1%	2.3%	2.5%	0.6%	-$9M	—	$181M
Mar '26	$4.5B	$3M	16.0%	0.6%	0.1%	0.0%	-$135M	—	$225M
Dec '25	$4.7B	$30M	16.3%	1.7%	1.5%	0.3%	$168M	$1.7B	$871M
Sep '25	$4.6B	$18M	16.6%	1.4%	0.9%	0.2%	$45M	—	$275M
Jun '25	$4.5B	-$67M	16.9%	-0.6%	-3.4%	-0.8%	-$207M	—	$290M
Mar '25	$4.1B	$6M	17.1%	0.7%	0.3%	0.1%	-$167M	—	$395M
Dec '24	$4.4B	$23M	17.2%	1.6%	1.1%	0.3%	$236M	$953M	$509M
Sep '24	$4.5B	$23M	17.3%	1.6%	1.0%	0.3%	$67M	—	$411M
Jun '24	$4.5B	$60M	17.4%	2.2%	2.8%	0.7%	-$150M	—	$469M
Mar '24	$4.4B	$40M	17.3%	1.5%	1.8%	0.5%	$104M	—	$605M
Dec '23	$4.6B	-$85M	17.5%	-0.9%	-3.8%	-1.0%	$91M	$1.0B	$581M
Sep '23	$4.7B	$30M	17.6%	1.5%	1.3%	0.4%	$245M	—	$571M
Jun '23	$4.9B	$65M	17.8%	2.2%	2.7%	0.7%	-$177M	—	$408M
Mar '23	$4.8B	$78M	18.2%	2.5%	3.1%	0.9%	$111M	—	$707M
Dec '22	$4.8B	$49M	18.2%	2.1%	2.0%	0.5%	$114M	$987M	$639M
Sep '22	$4.8B	$111M	18.3%	3.4%	4.6%	1.3%	$254M	—	$528M
Jun '22	$5.1B	$122M	18.2%	3.6%	5.0%	1.3%	-$72M	—	$886M
Mar '22	$5.1B	$92M	17.4%	2.7%	3.6%	0.9%	$51M	—	$777M
Dec '21	$5.4B	$111M	17.2%	3.1%	4.4%	1.1%	$237M	$1.1B	$848M

Valuation over time

How the market has priced MAN against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 10.3× (Mar '23) to 9.2× (Nov '25).
The price-to-sales ratio has fallen from 0.2× (Mar '23) to 0.1× (Nov '26).
The dividend yield has fallen from 3.6% (Mar '23) to 3.0% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is MAN growing its revenue and profit?

Over the past 5 years, ManpowerGroup's revenue has declined 0.0% per year. These are computed facts, not advice.

How much debt does MAN have?

As of FY2025, ManpowerGroup reported $1.7B of total debt against $871M of cash; operating income covered interest expense -1.6×.

What is MAN's profit margin?

In FY2025, gross margin was 16.7%, operating margin 0.8%, and net margin -0.1%.

What is MAN's P/E ratio?

ManpowerGroup's P/E (TTM) is 18.40 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the MAN stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 9.2× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.