Latest Ratios: P/E Ratio -1.9x · EV/EBITDA N/A · ROE -23.0%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $468M | $302M | $468M | $785M | $644M | $662M | $808M | $885M | $801M | $1.1B | $880M |
| Enterprise Value | $594M | $428M | $731M | $710M | $561M | $629M | $673M | $925M | $768M | $1.0B | $851M |
| P/E Ratio → | -1.87 | — | — | 22.06 | — | 4.28 | — | 7.95 | 34.71 | 15.07 | 7.32 |
| P/S Ratio | 0.11 | 0.07 | 0.11 | 0.16 | 0.13 | 0.13 | 0.18 | 0.17 | 0.15 | 0.20 | 0.17 |
| P/B Ratio | 0.49 | 0.31 | 0.38 | 0.63 | 0.51 | 0.50 | 0.67 | 0.70 | 0.69 | 0.92 | 0.87 |
| P/FCF | 4.11 | 2.65 | 29.61 | 12.78 | — | 8.98 | 4.74 | 10.77 | 22.37 | 22.44 | 34.79 |
| P/OCF | 3.82 | 2.47 | 17.39 | 10.23 | — | 7.79 | 4.35 | 8.66 | 13.04 | 15.13 | 23.16 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.10 | 0.17 | 0.15 | 0.11 | 0.13 | 0.15 | 0.17 | 0.14 | 0.19 | 0.16 |
| EV / EBITDA | — | — | 20.43 | 12.20 | 11.63 | 8.02 | — | 6.86 | 6.78 | 9.82 | 9.86 |
| EV / EBIT | — | 7.22 | — | 10.88 | 8.01 | 11.95 | 19.28 | 7.67 | — | 12.33 | 5.54 |
| EV / FCF | — | 3.75 | 46.30 | 11.57 | — | 8.52 | 3.95 | 11.25 | 21.44 | 21.95 | 33.62 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.1% | 20.1% | 20.4% | 19.9% | 20.4% | 18.7% | 18.3% | 18.1% | 17.6% | 17.8% | 17.2% |
| Operating Margin | -1.6% | -1.6% | -0.3% | 0.5% | 0.3% | 1.0% | -2.1% | 1.5% | 1.6% | 1.5% | 1.2% |
| Net Profit Margin | -6.0% | -6.0% | -0.0% | 0.8% | -1.3% | 3.2% | -1.6% | 2.1% | 0.4% | 1.3% | 2.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -23.0% | -23.0% | -0.0% | 2.9% | -4.8% | 12.3% | -5.8% | 9.3% | 2.0% | 6.6% | 12.8% |
| ROA | -10.4% | -10.4% | -0.0% | 1.4% | -2.2% | 5.7% | -2.9% | 4.7% | 1.0% | 3.3% | 6.2% |
| ROIC | -4.0% | -4.0% | -0.8% | 1.6% | 0.9% | 3.1% | -5.9% | 5.0% | 5.8% | 5.9% | 5.2% |
| ROCE | -4.3% | -4.3% | -0.9% | 1.6% | 0.9% | 2.8% | -5.8% | 5.4% | 6.1% | 6.1% | 5.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.25 | 0.04 | 0.06 | 0.06 | 0.07 | 0.05 | 0.00 | 0.01 | — |
| Debt / EBITDA | — | — | 8.45 | 0.88 | 1.46 | 1.01 | — | 0.48 | 0.02 | 0.10 | — |
| Net Debt / Equity | — | 0.13 | 0.21 | -0.06 | -0.07 | -0.03 | -0.11 | 0.03 | -0.03 | -0.02 | -0.03 |
| Net Debt / EBITDA | — | — | 7.36 | -1.28 | -1.73 | -0.43 | — | 0.29 | -0.29 | -0.22 | -0.34 |
| Debt / FCF | — | 1.11 | 16.68 | -1.21 | — | -0.46 | -0.80 | 0.48 | -0.92 | -0.49 | -1.17 |
| Interest Coverage | — | — | -1.01 | 20.41 | 33.33 | 21.04 | 11.63 | 28.71 | -2.03 | 31.26 | 40.39 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.54 | 1.54 | 1.65 | 1.59 | 1.52 | 1.45 | 1.67 | 1.59 | 1.56 | 1.50 | 1.58 |
| Quick Ratio | 1.54 | 1.54 | 1.65 | 1.59 | 1.52 | 1.45 | 1.67 | 1.59 | 1.56 | 1.50 | 1.58 |
| Cash Ratio | 0.04 | 0.04 | 0.05 | 0.12 | 0.14 | 0.10 | 0.24 | 0.03 | 0.04 | 0.04 | 0.04 |
| Asset Turnover | — | 1.89 | 1.65 | 1.87 | 1.86 | 1.70 | 1.76 | 2.16 | 2.38 | 2.26 | 2.60 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 102.07 | 105.79 | 87.60 | 109.65 | 105.80 | 102.26 | 87.39 | 85.61 | 87.39 | 78.74 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 3.6% | 2.3% | 1.4% | 1.6% | 0.6% | 0.4% | 1.3% | 1.5% | 1.1% | 1.2% |
| Payout Ratio | — | — | — | 30.2% | — | 2.6% | — | 10.6% | 51.5% | 16.2% | 8.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 4.5% | — | 23.4% | — | 12.6% | 2.9% | 6.6% | 13.7% |
| FCF Yield | 24.4% | 37.8% | 3.4% | 7.8% | — | 11.1% | 21.1% | 9.3% | 4.5% | 4.5% | 2.9% |
| Buyback Yield | 2.6% | 4.1% | 2.1% | 5.4% | 5.4% | 0.1% | 0.1% | 0.3% | 0.9% | 0.2% | 0.3% |
| Total Shareholder Yield | 4.9% | 7.7% | 4.5% | 6.8% | 7.1% | 0.7% | 0.5% | 1.6% | 2.3% | 1.3% | 1.5% |
| Shares Outstanding | — | $35M | $36M | $36M | $38M | $40M | $39M | $39M | $39M | $39M | $38M |
Cyclical Revenue Contraction
Based on current market data, KELYA trades at a P/S ratio of 0.10 and a forward P/E of 14.11, suggesting that investors are heavily discounting the firm's earnings potential while awaiting evidence that the strategic pivot toward specialized staffing segments can successfully offset legacy industrial revenue declines.
The negative TTM P/E ratio highlights the impact of recent restructuring charges and operational losses, which obscure the company's normalized earning power. While the forward P/E suggests a more optimistic outlook, this valuation remains highly speculative until the company demonstrates consistent margin expansion in its SET and Education verticals.
As reported in recent financial statements, KELYA's ROIC has struggled to maintain positive territory, fluctuating between -5.8% and 1.2% over the last ten quarters, which indicates that the firm is currently failing to generate returns that exceed its cost of capital during this period of transition.
The volatility in ROIC is largely driven by the company's ongoing efforts to divest lower-margin international operations and absorb restructuring costs. Investors should monitor whether the shift toward higher-margin Education and SET services can eventually drive a sustainable recovery in capital returns, as current levels remain well below historical norms.
According to quarterly filings, KELYA's DSO has trended upward to 105 days in 2026Q1, a significant increase from historical levels that suggests potential friction in collections or a shift in client payment terms that may be pressuring the company's overall working capital efficiency and liquidity.
The lengthening of the collection cycle warrants further investigation, as it may indicate that the company is granting more lenient terms to secure business in a competitive environment. This trend, combined with the lack of consistent inventory data, suggests that the firm's cash conversion cycle is currently a drag on operational performance.
Based on the most recent balance sheet data, KELYA's current ratio of 1.59 indicates an adequate short-term liquidity position, yet the rapid depletion of cash reserves from $200.7 million in 2024Q1 to $25.6 million in 2026Q1 suggests a narrowing margin of safety for ongoing operations.
While the company maintains a healthy debt-to-equity ratio of 0.19, the significant reduction in cash suggests that the firm is utilizing its liquidity to fund restructuring and dividend payments during a period of negative operating cash flow. This trend warrants close monitoring to ensure the company retains sufficient flexibility to navigate further cyclical downturns.
The market frequently misapplies the P/S ratio to KELYA, failing to account for the significant portion of revenue that represents low-margin pass-through costs, which obscures the company's true economic take-rate and the underlying profitability of its specialized Education and SET service segments.
Investors should instead focus on net revenue or gross profit metrics to better gauge the company's actual value-add. Relying on headline revenue growth ignores the strategic intent behind exiting low-margin international markets, which is designed to improve quality of earnings rather than maximize top-line volume.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying KELYA stock.
Kelly Services, Inc.'s current P/E ratio is -1.9x. The historical average is 19.7x.
Kelly Services, Inc.'s return on equity (ROE) is -23.0%. The historical average is 4.3%.
Based on historical data, Kelly Services, Inc. is trading at a P/E of -1.9x. Compare with industry peers and growth rates for a complete picture.
Kelly Services, Inc.'s current dividend yield is 2.32%.
Kelly Services, Inc. has 20.1% gross margin and -1.6% operating margin.