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Staffing & employment services · Industrials · Fiscal year ends Dec 31
Robert Half reported revenue of $5.4B in the fiscal year ended Dec 2025, down 7.2% from the year before. Operating income was $76M, an operating margin of 1.4%, and net income was $133M. Operating cash flow of $320M less capital expenditure of $53M left free cash flow of $267M.
Ranks among the 5 staffing & employment services companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 6,461 | 7,238 | 6,393 | 5,796 | 5,379 |
| Cost of revenue | 3,765 | 4,144 | 3,818 | 3,549 | 3,376 |
| Gross profit | 2,696 | 3,094 | 2,575 | 2,247 | 2,002 |
| Selling, general & admin | 1,951 | 2,117 | 2,110 | 2,006 | 1,926 |
| Operating income | 806 | 891 | 465 | 241 | 76.5 |
| Net interest incomeBanks | 0.2 | 8.0 | 24.0 | – | – |
| Pre-tax income | 804 | 897 | 577 | 358 | 194 |
| Income tax | 205 | 239 | 165 | 106 | 61.4 |
| Net income | 599 | 658 | 411 | 252 | 133 |
| Diluted EPS | 5.36 | 6.03 | 3.88 | 2.44 | 1.33 |
| Diluted shares | 112 | 109 | 106 | 103 | 100 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 619 | 659 | 732 | 538 | 464 |
| Receivables | 985 | 1,018 | 861 | 772 | 748 |
| Current assets | 2,269 | 2,285 | 2,297 | 2,129 | 2,119 |
| Net PP&E | 93.4 | 110 | 109 | 120 | 129 |
| Goodwill | 223 | 238 | 238 | 237 | 251 |
| Total assets | 2,952 | 2,964 | 3,011 | 2,854 | 2,856 |
| Payables | 184 | 168 | 157 | 167 | 159 |
| Deferred revenue | 25.6 | 22.0 | 24.6 | 24.0 | 21.9 |
| Current liabilities | 1,359 | 1,216 | 1,235 | 1,286 | 1,385 |
| Short-term debt | 0.0 | – | – | – | – |
| Total liabilities | 1,571 | 1,396 | 1,422 | 1,476 | 1,580 |
| Shareholders' equity | 1,381 | 1,569 | 1,588 | 1,378 | 1,276 |
| Backlog (remaining obligations) | 112 | 153 | 118 | 180 | 172 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 603 | 684 | 637 | 410 | 320 |
| Capital expenditure | 36.6 | 61.1 | 45.9 | 56.3 | 53.2 |
| Free cash flow | 567 | 623 | 591 | 354 | 267 |
| Depreciation & amortisation | 52.2 | 47.4 | 51.4 | 52.1 | 50.0 |
| Acquisitions | 0.0 | 19.0 | 1.0 | 0.3 | 10.7 |
| Share buybacks | 288 | 320 | 255 | 276 | 92.1 |
| Dividends paid | 171 | 189 | 206 | 220 | 238 |
| Dividend per share | 1.52 | 1.72 | 1.92 | 2.12 | 2.36 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.0% | −11.7% | −9.3% | −7.2% |
| Operating income growth (YoY) | – | 10.5% | −47.8% | −48.0% | −68.3% |
| EPS growth (YoY) | – | 12.5% | −35.7% | −37.1% | −45.5% |
| Gross margin | 41.7% | 42.7% | 40.3% | 38.8% | 37.2% |
| Operating margin | 12.5% | 12.3% | 7.3% | 4.2% | 1.4% |
| Net margin | 9.3% | 9.1% | 6.4% | 4.3% | 2.5% |
| Return on equityBlank when equity is negative | 43.3% | 41.9% | 25.9% | 18.3% | 10.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 50.6% | 50.9% | 26.2% | 15.4% | 5.2% |
| Free cash flow margin | 8.8% | 8.6% | 9.2% | 6.1% | 5.0% |
| Cash conversion (CFO ÷ net income) | 1.01x | 1.04x | 1.55x | 1.63x | 2.41x |
| Receivable days | 56 | 51 | 49 | 49 | 51 |
| Payable days | 18 | 15 | 15 | 17 | 17 |
| Current ratio | 1.67x | 1.88x | 1.86x | 1.66x | 1.53x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.