Kelly Services, Inc.
Rank #154DeclineKELYB · Nasdaq · Industrials
Kelly Services, Inc. (KELYB) — Rank #154 by gross profitability (GP/assets 0.37) · ROE -25.9% · Piotroski F-Score N/A.
As-of 2026-09-15 · CIK 0000055135 · all metrics point-in-time as of the filing date.
About
Kelly Services, Inc., together with its subsidiaries, provides workforce solutions to various industries in the Americas, Europe, Mexico, and the Asia-Pacific region.
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It operates in three segments: Enterprise Talent Management, Science, Engineering & Technology, and Education. The Enterprise Talent Management segment delivers temporary staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions. This segment also delivers talent solutions, including managed service provider, payroll process outsourcing, recruitment process outsourcing solutions, and executive coaching programs to customers on a global basis that includes its RocketPower and Sevenstep brands. The Science, Engineering & Technology segment offers temporary staffing, outcome-based, and permanent placement services in the areas of science and clinical research, engineering, technology, and telecommunications specialties. The Education segment provides staffing, permanent placement, and executive search services to pre-K-12 school districts and education organizations. Kelly Services, Inc.
was founded in 1946 and is headquartered in Troy, Michigan.
- Industry
- Staffing & Employment Services
- Sector
- Industrials
- State
- DE
- Filer Category
- Accelerated filer
- Fiscal Year End
- January 3
- Website
- kellyservices.com
Price History
Company Snapshot
P/E, P/B, and dividend yield matter most — book value provides a floor.
Market Cap
$802.56M
P/E (annual)
—
P/S (annual)
0.2
P/B
0.8
P/OCF (annual)
6.5
Shareholder Yield
11.6%
Employees
4,900
Industry
Staffing & Employment Services
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 0/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
-6.8%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -10.2% — per-share value needs a total required return of -17.0% once share-count change is priced in.
vs. own 6-year median revenue growth: -6.4%
Cost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
-10.2%
r = 10% (base)
-6.8%
r = 12%
-3.8%
Net debt / market cap: 6.6%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / E
Price / diluted EPS
P / S
Price / revenue per share
P / B
Price / book value per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Asset value and restructuring potential (balance-sheet strength) are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.37
Primary signal (Novy-Marx).
51st pctl of 98 SIC 73 peers
Return on equity
-25.9%
Gross margin
20.1%
3rd pctl of 97 SIC 73 peers
Revenue growth (YoY)
-22.9%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2019 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
-5.0%
Revenue CAGR (5Y)
-1.2%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
1.32
20th pctl of 87 SIC 73 peers (best = lowest)
Current ratio
1.50×
31st pctl of 97 SIC 73 peers
Quick ratio
1.44×
Net cash
-$53.90M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$114.10M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
1.45
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.3%
Stock-based comp intensity.
Dividend safety
Composite score
1.8 / 5
Piotroski F-Score
F-Score
N/A
Only 8/9 components determinable.
Lifecycle Phase History
Lynch sell alert: Turnaround stalled
Classified decline for 2 consecutive fiscal years (2022-01-02, 2023-01-01) with no recovery to a healthier phase -- Lynch's turnaround rule: if it hasn't turned around by now, assume it isn't going to.