Is the business good?
How good a business is MAN?
ManpowerGroup Inc. earns 4.0% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
4.0%
Return on invested capital · cost of capital 9.0% · 5.0 points below what the capital costs: growth destroys value
- Operating margin
- 0.82%
Operating margin · Industrials median 10% · 12 months to Q1 2026
- Share count, year on year
- −0.42%
Share count, year on year · flat: no meaningful dilution
- Gross margin
- 16%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 1.0% |
| FY2021 | 2.8% |
| FY2022 | 2.9% |
| FY2023 | 1.4% |
| FY2024 | 1.7% |
| FY2025 | 0.84% |
Details›
- Gross margin12 months to Q1 2026
- 16%
- Operating margin12 months to Q1 2026
- 0.82%
- Net margin12 months to Q1 2026
- −0.09%
- Free cash flow margin
- −0.71%
- Revenue, trailing twelve months
- $18.4B
- Free cash flow, trailing twelve months
- −$130M
- Net income, trailing twelve months
- −$16M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.0%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.