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Kelly Services vs ManpowerGroup: revenue, profit, margins and growth compared

Kelly Services brought in $4.3B of revenue in fiscal 2025, ManpowerGroup $18B in fiscal 2025. Revenue changed by -1.9% at Kelly Services and +0.6% at ManpowerGroup on the year before, so ManpowerGroup grew faster. Kelly Services kept -6.0% of its revenue as net profit, ManpowerGroup -0.1%. Free cash flow was $114.1M at Kelly Services and -$161.4M at ManpowerGroup.

Side by side, latest fiscal year

KELYBMAN
Fiscal year endedFY2025 (December 28, 2025)FY2025 (December 31, 2025)
Revenue$4.3B$18B
Revenue growth-1.9%+0.6%
Net income-$254.1M-$13.3M
Net margin-6.0%-0.1%
Free cash flow$114.1M-$161.4M
Free cash flow margin2.7%-0.9%
Earnings per share (diluted)-$7.24-$0.29
Cash$33M$871M
Debt$101.9M$1.6B
Price to earningsn/an/a
Market value$770.7M$2.7B
Dividend yieldn/a2.51%
Rank by revenue in sector#226 of 778 · Consumer discretionary#66 of 778 · Consumer discretionary

Over the years

Revenue
KELYB FY2018: $5.5BKELYB FY2019: $5.4BKELYB FY2020: $4.5BKELYB FY2021: $4.9BKELYB FY2022: $5BKELYB FY2023: $4.8BKELYB FY2024: $4.3BKELYB FY2025: $4.3BMAN FY2018: $22BMAN FY2019: $20.9BMAN FY2020: $18BMAN FY2021: $20.7BMAN FY2022: $19.8BMAN FY2023: $18.9BMAN FY2024: $17.9BMAN FY2025: $18BFY18FY19FY20FY21FY22FY23FY24FY25
KELYB $4.3BMAN $18B
Net income
KELYB FY2018: $22.9MKELYB FY2019: $112.4MKELYB FY2020: -$72MKELYB FY2021: $156.1MKELYB FY2022: -$62.5MKELYB FY2023: $36.4MKELYB FY2024: -$600KKELYB FY2025: -$254.1MMAN FY2018: $556.7MMAN FY2019: $465.7MMAN FY2020: $23.8MMAN FY2021: $382.4MMAN FY2022: $373.8MMAN FY2023: $88.8MMAN FY2024: $145.1MMAN FY2025: -$13.3MFY18FY19FY20FY21FY22FY23FY24FY25
KELYB -$254.1MMAN -$13.3M
Net margin
KELYB FY2018: 0.4%KELYB FY2019: 2.1%KELYB FY2020: -1.6%KELYB FY2021: 3.2%KELYB FY2022: -1.3%KELYB FY2023: 0.8%KELYB FY2024: -0.0%KELYB FY2025: -6.0%MAN FY2018: 2.5%MAN FY2019: 2.2%MAN FY2020: 0.1%MAN FY2021: 1.8%MAN FY2022: 1.9%MAN FY2023: 0.5%MAN FY2024: 0.8%MAN FY2025: -0.1%FY18FY19FY20FY21FY22FY23FY24FY25
KELYB -6.0%MAN -0.1%
Revenue growth
KELYB FY2019: -2.9%KELYB FY2020: -15.7%KELYB FY2021: +8.7%KELYB FY2022: +1.1%KELYB FY2023: -2.6%KELYB FY2024: -10.4%KELYB FY2025: -1.9%MAN FY2019: -5.1%MAN FY2020: -13.7%MAN FY2021: +15.1%MAN FY2022: -4.3%MAN FY2023: -4.6%MAN FY2024: -5.6%MAN FY2025: +0.6%FY19FY20FY21FY22FY23FY24FY25
KELYB -1.9%MAN +0.6%
Free cash flow
KELYB FY2018: $35.8MKELYB FY2019: $82.2MKELYB FY2020: $170.5MKELYB FY2021: $73.8MKELYB FY2022: -$88.3MKELYB FY2023: $61.4MKELYB FY2024: $15.8MKELYB FY2025: $114.1MMAN FY2018: $418.4MMAN FY2019: $761.5MMAN FY2020: $885.7MMAN FY2021: $580.6MMAN FY2022: $347.7MMAN FY2023: $270MMAN FY2024: $258.1MMAN FY2025: -$161.4MFY18FY19FY20FY21FY22FY23FY24FY25
KELYB $114.1MMAN -$161.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Kelly Services and ManpowerGroup

Which is bigger by revenue, Kelly Services or ManpowerGroup?

ManpowerGroup is bigger by revenue: $18B in fiscal 2025, against $4.3B for Kelly Services in fiscal 2025.

Which keeps more of its revenue as profit, Kelly Services or ManpowerGroup?

Kelly Services had a net margin of -6.0% in fiscal 2025; ManpowerGroup had -0.1% in fiscal 2025.

Which grew revenue faster, Kelly Services or ManpowerGroup?

In their latest fiscal years revenue changed by -1.9% at Kelly Services and +0.6% at ManpowerGroup.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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