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ASGN

ASGN Incorporated

ASGN

ASGN Incorporated • NYSE
$45.01 ▼ -0.60% (-0.27)
Market Cap $1.98 B
52w High $95.29
52w Low $39.25
Dividend Yield 0%
P/E 15.26
Volume 300.67K
Outstanding Shares 43.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.011B ▼ $229M ▼ $38.1M ▲ 3.767% ▲ $0.87 ▲ $166.8M ▲
Q2-2025 $1.021B ▲ $233.7M ▲ $29.3M ▲ 2.871% ▲ $0.67 ▲ $90.9M ▲
Q1-2025 $968.3M ▼ $228.8M ▲ $20.9M ▼ 2.158% ▼ $0.48 ▼ $72.2M ▼
Q4-2024 $985M ▼ $211.8M ▼ $42.4M ▼ 4.305% ▼ $0.96 ▼ $98.1M ▼
Q3-2024 $1.031B $221.5M $47.5M 4.607% $1.07 $102.3M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $83.9M ▼ $3.7B ▼ $1.867B ▼ $1.833B ▲
Q2-2025 $138.9M ▲ $3.715B ▲ $1.888B ▼ $1.827B ▲
Q1-2025 $107M ▼ $3.698B ▲ $1.905B ▲ $1.793B ▲
Q4-2024 $205.2M ▲ $3.429B ▼ $1.652B ▼ $1.777B ▲
Q3-2024 $166.6M $3.432B $1.657B $1.774B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $38.1M ▲ $83.9M ▼ $-11.9M ▼ $-84.5M ▲ $-12.4M ▼ $72M ▼
Q2-2025 $29.3M ▲ $124.9M ▲ $-9.1M ▲ $-84.9M ▼ $31.9M ▲ $115.8M ▲
Q1-2025 $20.9M ▼ $16.8M ▼ $-316.3M ▼ $201.2M ▲ $-98.2M ▼ $6.6M ▼
Q4-2024 $42.4M ▼ $100.2M ▼ $-11.3M ▼ $-49.6M ▲ $38.6M ▲ $88.9M ▼
Q3-2024 $47.5M $135.8M $-8M $-92.9M $34.4M $151.9M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Commercial Business
Commercial Business
 $0 ▲$670.00M ▲$710.00M ▲$710.00M ▲
Federal Government Business
Federal Government Business
 $230.00M ▲$300.00M ▲$310.00M ▲$300.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Over the last five years, ASGN has grown from a smaller base to a meaningfully larger business, but its growth has cooled more recently. Revenue climbed steadily through 2022, then softened in 2023 and 2024, suggesting a more challenging demand environment in IT services and staffing. Profitability followed a similar pattern: margins improved into 2022, then compressed as growth slowed and costs remained elevated. Earnings per share are still healthy versus earlier years, but they no longer sit at their recent peak. Overall, the income statement signals a mature, profitable business facing a more normal, cyclical slowdown rather than structural distress.

Balance Sheet

Balance Sheet ASGN’s balance sheet looks steady and fairly conservative. Total assets have gradually increased over time, while shareholder equity has grown, indicating that the company has been building underlying value rather than drawing it down. Debt levels are meaningful but have been very stable, with no sign of aggressive leverage or sudden increases in borrowing. Cash balances move around from year to year, but there is no sign of cash strain. In plain terms, the company appears to be funding itself in a balanced way, with a moderate use of debt and a solid capital base.

Cash Flow

Cash Flow Cash generation is a relative strength. ASGN has consistently produced cash from its operations across the entire period, and free cash flow has been positive every year. In fact, free cash flow has generally trended higher in the most recent years, even as reported earnings have come off their highs, which suggests good working capital discipline and a business that converts accounting profits into real cash. Capital spending needs are modest for a services company, so more of the cash can be directed toward debt service, buybacks, or acquisitions rather than heavy investment in physical assets.

Competitive Edge

Competitive Edge ASGN holds a solid competitive position in IT services, built on scale, specialization, and its mix of commercial and U.S. federal government work. Through brands like Apex Systems and ECS, it can assemble specialized teams quickly, drawing on a large, pre-vetted talent pool. Its federal government arm benefits from security clearances, long-term contracts, and deep domain expertise, which together create high barriers for new entrants. The diversified customer base across industries also helps smooth out downturns in any single sector. That said, the broader IT services and staffing market remains intensely competitive and cyclical, so ASGN’s edge depends on maintaining its talent network, execution quality, and government relationships.

Innovation and R&D

Innovation and R&D Although it is a services company, ASGN is leaning heavily into innovation, especially around artificial intelligence and cloud. The AI Innovation Center and AI Factory show a clear push to turn AI into repeatable, packaged solutions that reduce implementation time and cost for clients. Partnerships with major platforms like Salesforce and Microsoft deepen its capabilities and keep it close to the leading edge of enterprise AI tools. Its proprietary recruiting technology also aims to make talent delivery faster and more precise. The planned rebranding under the Everforth name and focus on areas like AI, cybersecurity, and digital engineering suggest a long-term pivot toward higher-value, tech-intensive work. The main risks are execution—integrating brands, scaling AI offerings, and standing out in a crowded AI and cloud market.

Summary

ASGN comes across as a mature, profitable IT services provider with steady fundamentals and active strategic repositioning. Financially, it shows a pattern of earlier growth followed by a more recent slowdown, but with margins still solid and cash flow strong. The balance sheet is stable and not overly stretched, supporting resilience through industry cycles. Competitively, its blend of large-scale commercial operations and a strong foothold in the U.S. federal market provides a meaningful moat compared with smaller or less specialized peers. At the same time, the company is investing to move up the value chain via AI, cloud, and cybersecurity solutions, and plans to unify its brands under Everforth to better cross-sell and present a single face to the market. The key things to watch are whether demand re-accelerates, how well the rebranding and integration are executed, and whether its AI and digital initiatives translate into durable, higher-margin growth in a competitive sector.

NEWS

November 20, 2025 · 4:05 PM UTC

ASGN Incorporated Announces Plan to Transition to Everforth

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November 20, 2025 · 8:00 AM UTC

ASGN to Host 2025 Investor Day

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November 19, 2025 · 4:05 PM UTC

ASGN Unveils AI Factory to Accelerate Enterprise Transformation

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November 18, 2025 · 9:00 AM UTC

ASGN and Salesforce Announce 360-Degree Partnership to Deliver AI Solutions Across Enterprise Platforms

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October 22, 2025 · 4:05 PM UTC

ASGN Incorporated Reports Third Quarter 2025 Results

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