Cash flow ManpowerGroup Inc.

Equities

MAN

US56418H1005

Employment Services

Market Closed - Nyse Other stock markets 04:00:02 2024-12-13 pm EST			5-day change	1st Jan Change
61.18 ^USD	+0.56%		-0.29%	-23.01%

Dec. 09	ManpowerGroup: President appointed for Southern Europe	CF
Dec. 09	ManpowerGroup: new President for France	CF

1cc33dde50e.SoEm6nG5MhEOlIEWvZOYe4tTmC-hzvFwiGomOVeeXJI.f-dNqACMSyY648xmifauObsK3l7r-qYkvz5qQRjTKt0I2HzeIdhjcmbj2A

Published financial data: MANPOWERGROUP INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	20.86B	18B	20.72B	19.83B	18.91B
Total Revenues	20.86B	18B	20.72B	19.83B	18.91B
Cost of Goods Sold, Total	17.49B	15.18B	17.32B	16.26B	15.56B
Gross Profit	3.38B	2.82B	3.41B	3.57B	3.36B
Selling General & Admin Expenses, Total	2.63B	2.43B	2.77B	2.91B	2.89B
Provision for Bad Debts	21.8M	20.3M	17.9M	6.2M	5.4M
Other Operating Expenses, Total	2.65B	2.45B	2.79B	2.92B	2.9B
Operating Income	722M	371M	619M	657M	460M
Interest Expense, Total	-44.4M	-43.3M	-38.8M	-46.9M	-79.7M
Interest And Investment Income	6M	13.1M	12M	17.9M	34.2M
Net Interest Expenses	-38.4M	-30.2M	-26.8M	-29M	-45.5M
Currency Exchange Gains (Loss)	-6.7M	-4.9M	-5.2M	-12.7M	-21.8M
Other Non Operating Income (Expenses)	5.3M	5.4M	14.7M	15.8M	18.7M
EBT, Excl. Unusual Items	682M	341M	602M	631M	412M
Restructuring Charges	-42M	-111M	-15.2M	-3.6M	-150M
Merger & Related Restructuring Charges	-	-	-18.8M	-14.7M	-
Impairment of Goodwill	-64M	-66.8M	-	-50M	-55.1M
Gain (Loss) On Sale Of Investments	80.4M	-	-	-	-
Gain (Loss) On Sale Of Assets	-	-	-	-6M	-
Asset Writedown	-1.6M	-6M	-	-	-
Insurance Settlements	-	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	30.4M	-10.2M	-	-	-
EBT, Incl. Unusual Items	686M	148M	568M	557M	206M
Income Tax Expense	220M	124M	186M	183M	117M
Earnings From Continuing Operations	466M	23.8M	382M	374M	88.8M
Net Income to Company	466M	23.8M	382M	374M	88.8M
Net Income - (IS)	466M	23.8M	382M	374M	88.8M
Net Income to Common Incl Extra Items	466M	23.8M	382M	374M	88.8M
Net Income to Common Excl. Extra Items	466M	23.8M	382M	374M	88.8M
Per Share Items
Net EPS - Basic	7.77	0.41	7.02	7.16	1.78
Basic EPS - Continuing Operations	7.77	0.41	7.02	7.16	1.78
Basic Weighted Average Shares Outstanding	59.9M	58M	54.5M	52.2M	49.8M
Net EPS - Diluted	7.72	0.41	6.91	7.08	1.76
Diluted EPS - Continuing Operations	7.72	0.41	6.91	7.08	1.76
Diluted Weighted Average Shares Outstanding	60.3M	58.3M	55.4M	52.8M	50.4M
Normalized Basic EPS	7.12	3.68	6.9	7.56	5.16
Normalized Diluted EPS	7.07	3.66	6.79	7.47	5.1
Dividend Per Share	2.18	2.26	2.52	2.72	2.94
Payout Ratio	27.76	542.44	35.72	37.43	162.5
Supplemental Items
EBITDA	797M	446M	687M	732M	535M
EBITA	752M	398M	644M	694M	495M
EBIT	722M	371M	619M	657M	460M
EBITDAR	984M	617M	854M	882M	690M
Effective Tax Rate - (Ratio)	32.06	83.89	32.69	32.9	56.87
Current Domestic Taxes	19.2M	9.7M	23.5M	24.4M	4.4M
Current Foreign Taxes	244M	125M	164M	154M	133M
Total Current Taxes	263M	134M	187M	178M	138M
Deferred Domestic Taxes	-21M	-15.9M	8.2M	12.1M	-12.6M
Deferred Foreign Taxes	-22M	5.5M	-9.5M	-7.3M	-8M
Total Deferred Taxes	-43M	-10.4M	-1.3M	4.8M	-20.6M
Normalized Net Income	426M	213M	376M	395M	257M
Non-Cash Pension Expense	2.1M	13.1M	200K	-800K	6.2M
Supplemental Operating Expense Items
Advertising Expense	25.7M	22.2M	28.1M	29.6M	28.9M
Net Rental Expense, Total	187M	171M	167M	149M	155M
Imputed Operating Lease Interest Expense	50.92M	38.48M	34M	39.16M	71.16M
Imputed Operating Lease Depreciation	136M	133M	133M	110M	84.24M
Stock-Based Comp., SG&A Exp. (Total)	26.3M	24.2M	36.8M	37.6M	28.7M
Total Stock-Based Compensation	26.3M	24.2M	36.8M	37.6M	28.7M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.03B	1.57B	848M	639M	581M
Total Cash And Short Term Investments	1.03B	1.57B	848M	639M	581M
Accounts Receivable, Total	5.27B	4.91B	5.45B	5.12B	4.79B
Total Receivables	5.27B	4.91B	5.45B	5.12B	4.79B
Prepaid Expenses	176M	175M	102M	158M	161M
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	9.7M	13.1M	24.7M	14M	38.4M
Total Current Assets	6.48B	6.67B	6.42B	5.93B	5.57B
Gross Property Plant And Equipment	1.05B	1.02B	968M	951M	940M
Accumulated Depreciation	-462M	-480M	-478M	-473M	-397M
Net Property Plant And Equipment	592M	536M	490M	478M	544M
Long-term Investments	97.8M	107M	114M	95.8M	102M
Goodwill	1.26B	1.23B	1.72B	1.63B	1.59B
Other Intangibles, Total	276M	268M	622M	597M	564M
Deferred Tax Assets Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	514M	526M	458M	397M	461M
Total Assets	9.22B	9.33B	9.83B	9.13B	8.83B
Liabilities
Accounts Payable, Total	2.47B	2.53B	3.04B	2.83B	2.72B
Accrued Expenses, Total	1.73B	1.95B	2.01B	1.89B	1.86B
Short-term Borrowings	61M	20.4M	16.8M	21.5M	9M
Current Portion of Long-Term Debt	-	-	536M	5.1M	3.1M
Current Portion of Leases	122M	119M	110M	106M	100M
Current Income Taxes Payable	-	-	-	-	-
Unearned Revenue Current, Total	44.5M	34.9M	34.8M	35.6M	31.9M
Other Current Liabilities	6M	30.5M	29.7M	25.8M	75.6M
Total Current Liabilities	4.44B	4.68B	5.78B	4.91B	4.8B
Long-Term Debt	1.01B	1.1B	566M	960M	990M
Long-Term Leases	337M	305M	276M	267M	323M
Unearned Revenue Non Current	-	-	-	-	-
Other Non Current Liabilities	672M	781M	675M	534M	483M
Total Liabilities	6.46B	6.87B	7.3B	6.67B	6.6B
Common Stock, Total	1.2M	1.2M	1.2M	1.2M	1.2M
Additional Paid In Capital	3.37B	3.4B	3.44B	3.48B	3.51B
Retained Earnings	3.49B	3.39B	3.63B	3.87B	3.81B
Treasury Stock	-3.68B	-3.95B	-4.17B	-4.45B	-4.64B
Comprehensive Income and Other	-441M	-397M	-389M	-459M	-466M
Total Common Equity	2.74B	2.44B	2.52B	2.45B	2.22B
Minority Interest	18.5M	12.6M	10M	10.8M	10.8M
Total Equity	2.76B	2.45B	2.53B	2.46B	2.23B
Total Liabilities And Equity	9.22B	9.33B	9.83B	9.13B	8.83B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	58.78M	54.99M	53.65M	50.62M	48.24M
ECS Total Common Shares Outstanding	58.67M	55.57M	53.6M	50.56M	48.42M
Book Value / Share	46.75	43.93	47.05	48.4	45.91
Tangible Book Value	1.21B	947M	178M	222M	72.2M
Tangible Book Value Per Share	20.57	17.05	3.32	4.39	1.49
Total Debt	1.53B	1.55B	1.5B	1.36B	1.43B
Net Debt	506M	-18.8M	656M	720M	845M
Debt Equivalent of Unfunded Proj. Benefit Obligation	153M	240M	161M	105M	136M
Debt Equivalent Oper. Leases	1.5B	1.37B	1.34B	1.2B	1.24B
Minority Interest, Total (Incl. Fin. Div)	18.5M	12.6M	10M	10.8M	10.8M
Equity Method Investments, Total	97.8M	107M	114M	95.8M	102M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	500K	500K	500K	400K	400K
Buildings, Total	10.2M	7.1M	6.7M	6.3M	6.4M
Machinery, Total	295M	301M	299M	296M	276M
Full Time Employees	28K	25K	30K	30.9K	27.9K
Accumulated Allowance for Doubtful Accounts (Supple)	114M	128M	122M	109M	99.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	466M	23.8M	382M	374M	88.8M
Depreciation & Amortization - CF	45.4M	47.3M	43.7M	37.7M	40.2M
Amortization of Goodwill and Intangible Assets - (CF)	29.8M	27.2M	24.2M	37.1M	34.6M
Depreciation & Amortization, Total	75.2M	74.5M	67.9M	74.8M	74.8M
Amortization of Deferred Charges, Total - (CF)	2M	1.8M	5.5M	9.8M	13.8M
(Gain) Loss From Sale Of Asset	-	-	-	6M	1.3M
(Gain) Loss on Sale of Investments - (CF)	-111M	-	-	-	-
Asset Writedown & Restructuring Costs	64M	98.6M	-	50M	57.3M
Stock-Based Compensation (CF)	26.3M	24.2M	36.8M	37.6M	28.7M
Tax Benefit from Stock Options	-	-	-	-	-
Provision and Write-off of Bad Debts	21.8M	20.3M	17.9M	6.2M	5.4M
Other Operating Activities, Total	-43M	-10.4M	-1.3M	4.8M	-20.6M
Change In Accounts Receivable	-80.2M	587M	-641M	28.8M	392M
Change in Other Net Operating Assets	393M	117M	776M	-168M	-293M
Cash from Operations	814M	936M	645M	423M	348M
Capital Expenditure	-52.9M	-50.7M	-64.2M	-75.6M	-78.2M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	77.8M	-700K	-924M	-16.4M	-
Divestitures	-41.1M	9M	1.6M	6.7M	4.1M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Cash from Investing	-16.2M	-42.4M	-987M	-85.3M	-74.1M
Short Term Debt Issued, Total	11.2M	-	-	7.2M	-
Long-Term Debt Issued, Total	9.6M	2.7M	75.5M	421M	1M
Total Debt Issued	20.8M	2.7M	75.5M	428M	1M
Short Term Debt Repaid, Total	-	-40.8M	-3M	-	-12.8M
Long-Term Debt Repaid, Total	-1.3M	-400K	-2.2M	-487M	-4.4M
Total Debt Repaid	-1.3M	-41.2M	-5.2M	-487M	-17.2M
Issuance of Common Stock	7M	7.4M	5.1M	300K	1.8M
Repurchase of Common Stock	-203M	-265M	-210M	-270M	-180M
Common Dividends Paid	-129M	-129M	-137M	-140M	-144M
Common & Preferred Stock Dividends Paid	-129M	-129M	-137M	-140M	-144M
Other Financing Activities, Total	-31.6M	-10.3M	-12.5M	-13.8M	-11M
Cash from Financing	-337M	-435M	-284M	-482M	-350M
Foreign Exchange Rate Adjustments	-26.9M	82.5M	-93.4M	-64.7M	17.7M
Net Change in Cash	434M	541M	-719M	-209M	-57.7M
Supplemental Items
Cash Interest Paid	42.4M	40.8M	37M	38.2M	75.9M
Cash Income Tax Paid (Refund)	179M	150M	140M	202M	182M
Levered Free Cash Flow	553M	901M	506M	369M	489M
Unlevered Free Cash Flow	581M	928M	530M	399M	539M
Change In Net Working Capital	-79M	-646M	-97.2M	58.8M	-212M
Net Debt Issued / Repaid	19.5M	-38.5M	70.3M	-58.7M	-16.2M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	5.09	2.5	4.04	4.33	3.2
Return on Total Capital	11.19	5.59	9.63	10.46	7.69
Return On Equity %	17.06	0.91	15.34	14.98	3.78
Return on Common Equity	17.35	0.92	15.41	15.05	3.8
Margin Analysis
Gross Profit Margin %	16.18	15.69	16.44	18.02	17.75
SG&A Margin	12.61	13.52	13.37	14.67	15.29
EBITDA Margin %	3.82	2.48	3.32	3.69	2.83
EBITA Margin %	3.6	2.21	3.11	3.5	2.62
EBIT Margin %	3.46	2.06	2.99	3.32	2.43
Income From Continuing Operations Margin %	2.23	0.13	1.85	1.89	0.47
Net Income Margin %	2.23	0.13	1.85	1.89	0.47
Net Avail. For Common Margin %	2.23	0.13	1.85	1.89	0.47
Normalized Net Income Margin	2.04	1.19	1.82	1.99	1.36
Levered Free Cash Flow Margin	2.65	5	2.44	1.86	2.59
Unlevered Free Cash Flow Margin	2.78	5.15	2.56	2.01	2.85
Asset Turnover
Asset Turnover	2.35	1.94	2.16	2.09	2.11
Fixed Assets Turnover	56.05	31.93	40.4	40.96	37.02
Receivables Turnover (Average Receivables)	3.96	3.53	4	3.76	3.82
Short Term Liquidity
Current Ratio	1.46	1.42	1.11	1.21	1.16
Quick Ratio	1.42	1.38	1.09	1.17	1.12
Operating Cash Flow to Current Liabilities	0.18	0.2	0.11	0.09	0.07
Days Sales Outstanding (Average Receivables)	92.28	103.54	91.23	97.08	95.67
Average Days Payable Outstanding	49.48	60.32	58.67	65.91	65.16
Long Term Solvency
Total Debt/Equity	55.48	63.1	59.41	55.27	63.83
Total Debt / Total Capital	35.68	38.69	37.27	35.6	38.96
LT Debt/Equity	48.85	57.41	33.24	49.9	58.8
Long-Term Debt / Total Capital	31.42	35.2	20.85	32.14	35.89
Total Liabilities / Total Assets	70.06	73.7	74.24	73.08	74.7
EBIT / Interest Expense	16.26	8.57	15.96	14.01	5.77
EBITDA / Interest Expense	22.17	14.24	22.02	18.8	8.66
(EBITDA - Capex) / Interest Expense	20.98	13.07	20.37	17.18	7.68
Total Debt / EBITDA	1.56	2.51	1.76	1.54	2.07
Net Debt / EBITDA	0.51	-0.03	0.77	0.82	1.22
Total Debt / (EBITDA - Capex)	1.65	2.74	1.9	1.69	2.33
Net Debt / (EBITDA - Capex)	0.54	-0.03	0.83	0.89	1.38
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-5.13	-13.72	15.13	-4.33	-4.6
Gross Profit, 1 Yr. Growth %	-5.7	-16.31	20.63	4.84	-6
EBITDA, 1 Yr. Growth %	-13.37	-44.11	54.24	7.9	-27.97
EBITA, 1 Yr. Growth %	-13.68	-47.03	61.59	9.39	-29.82
EBIT, 1 Yr. Growth %