MAN | Market Cap: $1.9B (07/13/26)
Industry:
Commercial Services

DESCRIPTION

ManpowerGroup is one of the world's largest staffing and workforce solutions firms, placing temporary, contract, and permanent workers with client companies across virtually every industry in more than 70 countries. The core business — roughly 87-92% of revenue — is staffing, where ManpowerGroup acts as the legal employer of temporary workers, paying them and billing clients for their time, earning a spread between the two. ManpowerGroup operates through three brands: Manpower (contingent staffing for industrial, manufacturing, logistics, and office roles), Experis (IT and technology professionals), and Talent Solutions (higher-value services including RPO, managed service programs for contingent workforce vendors, and outplacement). The company serves large multinationals — roughly 60% of revenue — through a direct sales force, and small and mid-sized businesses through a local branch network of ~2,100 offices. Geographically, Southern Europe is the largest segment (~47-48% of revenue), dominated by France; the Americas contribute ~23-25%; Northern Europe ~17-18%; and Asia Pacific Middle East ~11-12%, led by Japan. Gross margins are driven by business mix, the level of permanent placements, and client type. SG&A is largely fixed, creating significant operating leverage. ManpowerGroup's strategy targets a shift toward higher-margin offerings like Experis, RPO, and MSP, alongside structural cost reduction through centralized shared service hubs and its PowerSuite technology platform, which runs across nearly 90% of revenues.

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