MAN Financials Manpowergroup Inc.

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 30 h ago 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

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	FCF	Total debt	Cash
2025	$18.0B	-$13M	16.7%	0.8%	-$161M	$1.7B	$871M
2024	$17.9B	$145M	17.3%	1.7%	$258M	$953M	$509M
2023	$18.9B	$89M	17.8%	1.4%	$270M	$1.0B	$581M
2022	$19.8B	$374M	18.0%	2.9%	$348M	$987M	$639M
2021	$20.7B	$382M	16.4%	2.8%	$581M	$1.1B	$848M
2020	$18.0B	$24M	15.7%	1.0%	$886M	$1.1B	$1.6B
2019	$20.9B	$466M	16.2%	3.1%	$762M	$1.1B	$1.0B
2018	$22.0B	$557M	16.3%	3.6%	$418M	$1.1B	$592M
2017	$21.0B	$545M	16.6%	3.8%	$346M	$948M	$689M
2016	$19.7B	$444M	17.0%	3.8%	—	$825M	$599M
2015	—	$419M	—	—	—	$855M	$731M
2014	—	$428M	—	—	—	$468M	$699M
2013	—	$288M	—	—	$352M	$518M	$738M
2012	—	$198M	—	—	$260M	$770M	$648M
2011	—	$252M	—	—	$4M	$700M	$581M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Mar '26	$4.5B	$3M	16.0%	0.6%	-$135M	—	$225M
Dec '25	$4.7B	$30M	16.3%	1.7%	$168M	$1.7B	$871M
Sep '25	$4.6B	$18M	16.6%	1.4%	$45M	—	$275M
Jun '25	$4.5B	-$67M	16.9%	-0.6%	-$207M	—	$290M
Mar '25	$4.1B	$6M	17.1%	0.7%	-$167M	—	$395M
Dec '24	$4.4B	$23M	17.2%	1.6%	$236M	$953M	$509M
Sep '24	$4.5B	$23M	17.3%	1.6%	$67M	—	$411M
Jun '24	$4.5B	$60M	17.4%	2.2%	-$150M	—	$469M
Mar '24	$4.4B	$40M	17.3%	1.5%	$104M	—	$605M
Dec '23	$4.6B	-$85M	17.5%	-0.9%	$91M	$1.0B	$581M
Sep '23	$4.7B	$30M	17.6%	1.5%	$245M	—	$571M
Jun '23	$4.9B	$65M	17.8%	2.2%	-$177M	—	$408M
Mar '23	$4.8B	$78M	18.2%	2.5%	$111M	—	$707M
Dec '22	$4.8B	$49M	18.2%	2.1%	$114M	$987M	$639M
Sep '22	$4.8B	$111M	18.3%	3.4%	$254M	—	$528M
Jun '22	$5.1B	$122M	18.2%	3.6%	-$72M	—	$886M
Mar '22	$5.1B	$92M	17.4%	2.7%	$51M	—	$777M
Dec '21	$5.4B	$111M	17.2%	3.1%	$237M	$1.1B	$848M
Sep '21	$5.1B	$98M	16.6%	2.9%	$172M	—	$1.6B
Jun '21	$5.3B	$112M	16.3%	3.2%	$43M	—	$1.5B

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× (Jun '26).
The dividend yield has risen from 3.6% (Mar '23) to 4.2% (Jun '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 Inc.'s revenue has declined 0.0% per year. These are computed facts, not advice.

How much debt does MAN have?

As of FY2025, Manpowergroup Inc. 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?

As of Jun '26, Manpowergroup Inc. traded at a price-to-earnings ratio of about 9.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.