NASDAQ : KELYA
Kelly Services, Inc. — Financial statements
Industrials · Staffing & Employment Services · United States
Last price 16.26 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 564.74M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Kelly Services, Inc. (KELYA) reported revenue of 4.06B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 4.06B | 4.25B | 4.33B | 4.84B | 4.97B | 4.91B |
| Cost of Revenue | 3.26B | 3.40B | 3.45B | 3.87B | 3.95B | 3.99B |
| Gross Profit | 799.40M | 853.00M | 882.60M | 961.40M | 1.01B | 919.20M |
| Selling, General & Admin | 739.50M | 768.00M | 785.00M | 875.20M | 922.40M | 853.60M |
| Amortization of Goodwill & Intangibles | 30.10M | 27.30M | 20.90M | 19.40M | 13.00M | |
| Operating Expenses | 767.80M | 798.10M | 812.30M | 896.10M | 941.80M | 866.60M |
| Operating Income | 31.60M | 54.90M | 70.30M | 65.30M | 70.00M | 52.60M |
| Interest Expense | -9.00M | -12.40M | -10.90M | -3.20M | -2.10M | -2.50M |
| Interest & Investment Income | 2.90M | 3.70M | 6.80M | 6.70M | 2.30M | 2.90M |
| Earnings From Equity Investments | 800.00K | 5.40M | ||||
| Currency Exchange Gain (Loss) | -15.60M | -1.00M | ||||
| Other Non Operating Income (Expenses) | -700.00K | -300.00K | -1.30M | -4.90M | -3.40M | -1.60M |
| EBT Excluding Unusual Items | 24.80M | 45.90M | 64.90M | 63.90M | 52.00M | 55.80M |
| Merger & Restructuring Charges | -20.80M | -27.80M | -14.70M | -38.60M | -1.70M | -4.00M |
| Impairment of Goodwill | -102.00M | -102.00M | -72.80M | -41.00M | ||
| Gain (Loss) on Sale of Investments | 3.80M | 2.00M | -67.20M | 120.40M | ||
| Gain (Loss) on Sale of Assets | 1.50M | 5.10M | 7.00M | -12.50M | ||
| Asset Writedown | -13.50M | -2.40M | ||||
| Other Unusual Items | -2.10M | 3.40M | ||||
| Pretax Income | -98.60M | -78.80M | -21.90M | 24.90M | -70.40M | 191.20M |
| Income Tax Expense | 174.80M | 175.30M | -21.30M | -11.50M | -7.90M | 35.10M |
| Net Income | -273.40M | -254.10M | -600.00K | 36.40M | -62.50M | 156.10M |
| Preferred Dividends & Other Adjustments | -500.00K | 700.00K | 1.40M | |||
| Net Income to Common | -272.90M | -254.10M | -600.00K | 35.70M | -62.50M | 154.70M |
| Shares Outstanding (Basic) | 34.85M | 35.10M | 35.50M | 35.90M | 38.10M | 39.40M |
| Shares Outstanding (Diluted) | 34.85M | 35.10M | 35.50M | 36.30M | 38.10M | 39.50M |
| EPS (Basic) | -7.83 | -7.24 | -0.02 | 0.99 | -1.64 | 3.93 |
| EPS (Diluted) | -7.83 | -7.24 | -0.02 | 0.98 | -1.64 | 3.91 |
| Free Cash Flow | 20.50M | 114.10M | 15.80M | 61.40M | -88.30M | 73.80M |
| Free Cash Flow Per Share | 0.59 | 3.25 | 0.45 | 1.69 | -2.32 | 1.87 |
| Dividend Per Share | 0.30 | 0.30 | 0.30 | 0.30 | 0.28 | 0.10 |
| Gross Margin | 19.68% | 20.07% | 20.38% | 19.88% | 20.38% | 18.72% |
| Operating Margin | 0.78% | 1.29% | 1.62% | 1.35% | 1.41% | 1.07% |
| Profit Margin | -6.72% | -5.98% | -0.01% | 0.74% | -1.26% | 3.15% |
| Free Cash Flow Margin | 0.51% | 2.68% | 0.36% | 1.27% | -1.78% | 1.50% |
| EBITDA | 72.20M | 97.30M | 110.50M | 99.20M | 103.40M | 82.40M |
| EBITDA Margin | 1.78% | 2.29% | 2.55% | 2.05% | 2.08% | 1.68% |
| D&A For EBITDA | 40.60M | 42.40M | 40.20M | 33.90M | 33.40M | 29.80M |
| EBIT | 31.60M | 54.90M | 70.30M | 65.30M | 70.00M | 52.60M |
| EBIT Margin | 0.78% | 1.29% | 1.62% | 1.35% | 1.41% | 1.07% |
| Effective Tax Rate | 18.36% | |||||
| Advertising Expenses | 6.50M | 9.60M | 7.80M | 6.40M | 7.50M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 24.20M | 33.00M | 39.00M | 125.80M | 153.70M | 112.70M |
| Cash & Short-Term Investments | 24.20M | 33.00M | 39.00M | 125.80M | 153.70M | 112.70M |
| Accounts Receivable | 1.22B | 1.19B | 1.26B | 1.16B | 1.49B | 1.42B |
| Receivables | 1.22B | 1.19B | 1.26B | 1.16B | 1.49B | 1.42B |
| Prepaid Expenses | 47.20M | 46.60M | 68.90M | 45.10M | 67.10M | 48.60M |
| Restricted Cash | 500.00K | 300.00K | 300.00K | 100.00K | 200.00K | |
| Other Current Assets | 1.80M | 294.80M | 2.70M | 4.00M | ||
| Total Current Assets | 1.30B | 1.27B | 1.37B | 1.63B | 1.72B | 1.59B |
| Property, Plant & Equipment | 53.50M | 63.40M | 72.80M | 71.70M | 94.60M | 111.10M |
| Long-Term Investments | 3.50M | 387.70M | ||||
| Goodwill | 202.10M | 202.10M | 304.20M | 151.10M | 151.10M | 114.80M |
| Other Intangible Assets | 211.50M | 226.20M | 256.30M | 137.70M | 172.40M | 132.70M |
| Long-Term Deferred Tax Assets | 164.20M | 163.20M | 330.10M | 321.10M | 299.70M | 302.80M |
| Other Long-Term Assets | 349.40M | 327.40M | 303.40M | 273.40M | 230.80M | 256.40M |
| Total Assets | 2.28B | 2.25B | 2.63B | 2.58B | 2.66B | 2.89B |
| Accounts Payable | 661.50M | 626.70M | 608.30M | 644.80M | 717.60M | 676.20M |
| Accrued Expenses | 176.50M | 161.80M | 182.90M | 178.30M | 338.70M | 339.20M |
| Short-Term Debt | 700.00K | |||||
| Current Portion of Long-Term Debt | 400.00K | |||||
| Current Portion of Leases | 10.80M | 12.30M | 12.30M | 8.40M | 15.90M | 19.40M |
| Current Income Taxes Payable | 17.70M | 16.30M | 17.50M | 17.20M | 51.40M | 51.30M |
| Other Current Liabilities | 100.00K | 4.70M | 5.10M | 171.20M | 4.50M | 9.10M |
| Total Current Liabilities | 866.60M | 821.80M | 826.50M | 1.02B | 1.13B | 1.10B |
| Long-Term Debt | 78.10M | 101.90M | 239.40M | |||
| Long-Term Leases | 39.80M | 44.90M | 50.90M | 42.90M | 55.00M | 62.60M |
| Pension & Post-Retirement Benefits | 272.70M | 263.70M | 239.90M | 217.40M | 174.10M | 220.00M |
| Long-Term Deferred Tax Liabilities | 500.00K | 71.60M | ||||
| Other Long-Term Liabilities | 41.50M | 41.80M | 41.00M | 47.70M | 51.20M | 108.60M |
| Total Liabilities | 1.30B | 1.27B | 1.40B | 1.33B | 1.41B | 1.56B |
| Common Stock | 38.50M | 38.50M | 38.50M | 38.50M | 38.50M | 40.10M |
| Additional Paid-In Capital | 35.10M | 36.30M | 34.20M | 30.60M | 28.00M | 23.90M |
| Retained Earnings | 965.10M | 965.10M | 1.23B | 1.24B | 1.22B | 1.31B |
| Treasury Stock | -55.80M | -63.70M | -61.40M | -57.30M | -20.10M | -15.10M |
| Comprehensive Income & Other | -900.00K | 300.00K | -6.90M | 200.00K | -8.50M | -27.70M |
| Shareholders' Equity | 982.00M | 976.50M | 1.23B | 1.25B | 1.25B | 1.34B |
| Total Liabilities & Equity | 2.28B | 2.25B | 2.63B | 2.58B | 2.66B | 2.89B |
| Total Debt | 128.70M | 159.10M | 303.00M | 51.30M | 71.60M | 82.00M |
| Net Cash (Debt) | -104.50M | -126.10M | -264.00M | 74.50M | 82.10M | 30.70M |
| Net Cash Per Share | -3.00 | -3.59 | -7.44 | 2.05 | 2.15 | 0.78 |
| Filing Date Shares Outstanding | 34.73M | 34.21M | 34.89M | 35.29M | 37.17M | 39.40M |
| Total Common Shares Outstanding | 34.68M | 34.18M | 34.88M | 35.28M | 37.48M | 39.38M |
| Working Capital | 429.90M | 446.50M | 539.00M | 606.70M | 586.40M | 493.50M |
| Book Value Per Share | 28.32 | 28.57 | 35.40 | 35.54 | 33.47 | 33.93 |
| Tangible Book Value | 568.40M | 548.20M | 674.10M | 964.90M | 930.70M | 1.09B |
| Tangible Book Value Per Share | 16.39 | 16.04 | 19.33 | 27.35 | 24.83 | 27.65 |
| Buildings | 400.00K | 400.00K | 12.90M | |||
| Machinery | 117.40M | 130.80M | 149.50M | 174.50M | ||
| Construction In Progress | 900.00K | 2.30M | 3.00M | 300.00K | ||
| Leasehold Improvements | 6.80M | 6.50M | 13.90M | 17.40M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -273.40M | -254.10M | -600.00K | 36.40M | -62.50M | 156.10M |
| Depreciation & Amortization | 51.30M | 53.30M | 50.90M | 50.10M | 51.90M | 51.00M |
| Loss (Gain) From Sale of Assets | -1.10M | -5.10M | -7.00M | 12.50M | ||
| Asset Writedown & Restructuring Costs | 104.20M | 102.00M | 86.30M | 2.40M | 41.00M | |
| Loss (Gain) From Sale of Investments | 67.20M | -121.80M | ||||
| Loss (Gain) on Equity Investments | -800.00K | -5.40M | ||||
| Stock-Based Compensation | 11.90M | 12.30M | 11.80M | 9.70M | 7.80M | 5.10M |
| Provision & Write-off of Bad Debts | 900.00K | 3.30M | -100.00K | 1.60M | 1.50M | 1.60M |
| Other Operating Activities | 175.80M | 168.80M | -37.20M | -21.50M | -53.90M | 8.60M |
| Change in Accounts Receivable | -40.90M | 94.60M | -20.90M | 147.20M | -99.30M | -150.70M |
| Change in Accounts Payable | 46.00M | -10.50M | -31.10M | -62.50M | 44.30M | 155.80M |
| Change in Income Taxes | 21.90M | -4.60M | ||||
| Change in Other Net Operating Assets | -47.60M | -42.00M | -25.20M | -86.70M | -107.90M | -10.70M |
| Operating Cash Flow | 27.10M | 122.60M | 26.90M | 76.70M | -76.30M | 85.00M |
| Capital Expenditures | -6.60M | -8.50M | -11.10M | -15.30M | -12.00M | -11.20M |
| Sale of Property, Plant & Equipment | 1.00M | 1.00M | 4.30M | 10.10M | ||
| Cash Acquisitions | -431.90M | -143.10M | -213.00M | |||
| Divestitures | 21.80M | 77.10M | -6.00M | |||
| Investment in Securities | 6.40M | 316.40M | 5.00M | |||
| Other Investing Activities | 3.40M | 1.60M | 1.20M | 2.10M | 38.50M | |
| Investing Cash Flow | -2.20M | 22.30M | -361.60M | -14.10M | 167.50M | -180.70M |
| Short-Term Debt Issued | 800.00K | |||||
| Long-Term Debt Issued | 1.60B | 1.34B | ||||
| Total Debt Issued | 1.54B | 1.60B | 1.34B | 800.00K | ||
| Short-Term Debt Repaid | -700.00K | -200.00K | ||||
| Long-Term Debt Repaid | -1.74B | -1.10B | -1.20M | -1.40M | -1.50M | |
| Total Debt Repaid | -1.54B | -1.74B | -1.10B | -1.90M | -1.40M | -1.70M |
| Net Debt Issued (Repaid) | 3.80M | -137.50M | 239.40M | -1.90M | -600.00K | -1.70M |
| Repurchase of Common Stock | -11.90M | -12.30M | -12.50M | -44.00M | -35.90M | -600.00K |
| Common Dividends Paid | -11.00M | -11.00M | -10.90M | -11.00M | -10.60M | -4.00M |
| Other Financing Activities | -500.00K | -300.00K | -1.20M | -2.70M | -3.50M | -1.80M |
| Financing Cash Flow | -19.60M | -161.10M | 214.80M | -59.60M | -50.60M | -8.10M |
| Foreign Exchange Rate Adjustments | -1.80M | 8.30M | -2.10M | 2.20M | 2.30M | -4.80M |
| Net Cash Flow | 3.50M | -7.90M | -122.00M | 5.20M | 42.90M | -108.60M |
| Free Cash Flow | 20.50M | 114.10M | 15.80M | 61.40M | -88.30M | 73.80M |
| Free Cash Flow Margin | 0.51% | 2.68% | 0.36% | 1.27% | -1.78% | 1.50% |
| Free Cash Flow Per Share | 0.59 | 3.25 | 0.45 | 1.69 | -2.32 | 1.87 |
| Levered Free Cash Flow | 74.83M | 170.56M | 65.33M | 43.31M | 41.04M | 98.71M |
| Unlevered Free Cash Flow | 80.45M | 178.31M | 72.14M | 45.31M | 42.35M | 100.28M |
| Cash Interest Paid | 12.20M | 12.20M | 10.00M | 2.80M | 1.30M | 1.70M |
| Cash Income Tax Paid | 4.50M | 4.50M | 10.90M | 8.90M | 61.20M | 14.10M |
| Change in Working Capital | -42.50M | 42.10M | -77.20M | -2.00M | -141.00M | -10.20M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 576.20M | 303.84M | 472.04M | 762.75M | 642.53M | 661.33M |
| Enterprise Value | 680.70M | 451.24M | 732.14M | 710.25M | 590.23M | 700.33M |
| Last Close Price | 16.59 | 8.44 | 12.59 | 20.33 | 15.63 | 15.29 |
| PE Ratio | 21.37 | 4.28 | ||||
| Forward PE | 10.84 | 5.27 | 5.82 | 13.93 | 9.76 | 10.82 |
| PS Ratio | 0.14 | 0.07 | 0.11 | 0.16 | 0.13 | 0.14 |
| PB Ratio | 0.59 | 0.31 | 0.38 | 0.61 | 0.51 | 0.49 |
| P/TBV Ratio | 1.01 | 0.55 | 0.70 | 0.79 | 0.69 | 0.61 |
| P/FCF Ratio | 28.11 | 2.66 | 29.88 | 12.42 | 8.96 | |
| P/OCF Ratio | 21.26 | 2.48 | 17.55 | 9.95 | 7.78 | |
| PEG Ratio | 0.83 | 0.41 | 0.45 | 1.07 | 0.75 | 0.72 |
| EV/Sales Ratio | 0.17 | 0.11 | 0.17 | 0.15 | 0.12 | 0.14 |
| EV/EBITDA Ratio | 9.43 | 4.64 | 6.63 | 7.16 | 5.71 | 8.50 |
| EV/EBIT Ratio | 21.54 | 8.22 | 10.41 | 10.88 | 8.43 | 13.31 |
| EV/FCF Ratio | 33.21 | 3.96 | 46.34 | 11.57 | 9.49 | |
| Debt / Equity Ratio | 0.13 | 0.16 | 0.24 | 0.04 | 0.06 | 0.06 |
| Debt / EBITDA Ratio | 1.40 | 1.37 | 2.35 | 0.40 | 0.54 | 0.70 |
| Debt / FCF Ratio | 6.28 | 1.39 | 19.18 | 0.84 | 1.11 | |
| Net Debt / Equity Ratio | 0.11 | 0.13 | 0.21 | -0.06 | -0.07 | -0.02 |
| Net Debt / EBITDA Ratio | 1.45 | 1.30 | 2.39 | -0.75 | -0.79 | -0.37 |
| Net Debt / FCF Ratio | 5.10 | 1.10 | 16.71 | -1.21 | 0.93 | -0.42 |
| Asset Turnover | 1.70 | 1.74 | 1.66 | 1.84 | 1.79 | 1.80 |
| Quick Ratio | 1.44 | 1.49 | 1.57 | 1.26 | 1.46 | 1.40 |
| Current Ratio | 1.50 | 1.54 | 1.65 | 1.59 | 1.52 | 1.45 |
| Return on Equity (ROE) | -24.32% | -22.98% | -0.05% | 2.90% | -4.83% | 12.29% |
| Return on Assets (ROA) | 0.82% | 1.41% | 1.69% | 1.56% | 1.57% | 1.21% |
| Return on Invested Capital (ROIC) | 2.85% | 4.22% | 5.25% | 5.55% | 5.65% | 3.61% |
| Return on Capital Employed (ROCE) | 2.20% | 3.80% | 3.90% | 4.20% | 4.60% | 2.90% |
| Earnings Yield | -47.20% | -83.63% | -0.13% | 4.77% | -9.73% | 23.60% |
| FCF Yield | 3.56% | 37.55% | 3.35% | 8.05% | -13.74% | 11.16% |
| Dividend Yield | 1.81% | 3.38% | 2.22% | 1.39% | 1.60% | 0.60% |
| Payout Ratio | 30.22% | 2.56% | ||||
| Buyback Yield / Dilution | 1.27% | 1.13% | 2.20% | 4.72% | 3.54% | -0.51% |
| Total Shareholder Return | 3.08% | 4.50% | 4.42% | 6.11% | 5.15% | 0.09% |