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HSII

Heidrick & Struggles International, Inc.

HSII

Heidrick & Struggles International, Inc. • NASDAQ
$58.87 ▲ 0.07% (+0.04)
Market Cap $1.22 B
52w High $58.92
52w Low $36.87
Dividend Yield 0.45%
P/E 34.23
Volume 118.88K
Outstanding Shares 20.79M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $322.837M ▲ $48.196M ▼ $17.646M ▼ 5.466% ▼ $0.85 ▼ $31.864M ▲
Q2-2025 $321.908M ▲ $52.881M ▲ $21.073M ▲ 6.546% ▲ $1.02 ▲ $30.245M ▲
Q1-2025 $287.442M ▲ $51.68M ▼ $13.306M ▲ 4.629% ▲ $0.65 ▲ $22.498M ▼
Q4-2024 $280.886M ▼ $93.441M ▲ $-14.976M ▼ -5.332% ▼ $-0.73 ▼ $24.816M ▲
Q3-2024 $282.815M $49.678M $14.829M 5.243% $0.73 $24.032M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $528.082M ▲ $1.264B ▲ $755.042M ▲ $509.22M ▲
Q2-2025 $399.527M ▲ $1.141B ▲ $648.554M ▲ $492.491M ▲
Q1-2025 $324.659M ▼ $1.024B ▼ $558.641M ▼ $465.05M ▲
Q4-2024 $563.523M ▲ $1.194B ▲ $741.371M ▲ $452.817M ▼
Q3-2024 $409.427M $1.146B $662.495M $483.285M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $17.646M ▼ $134.679M ▲ $111.818M ▲ $-3.575M ▲ $243.467M ▲ $129.178M ▲
Q2-2025 $21.073M ▲ $68.61M ▲ $-77.287M ▼ $-4.138M ▲ $-696K ▲ $64.704M ▲
Q1-2025 $13.306M ▲ $-232.224M ▼ $-73.128M ▼ $-6.445M ▼ $-303.675M ▼ $-234.958M ▼
Q4-2024 $-14.976M ▼ $190.188M ▲ $-18.434M ▼ $-3.331M ▼ $152.391M ▼ $173.52M ▲
Q3-2024 $14.829M $101.145M $69.041M $-3.264M $173.5M $108.036M

Revenue by Products

Product Q4-2022Q1-2023Q2-2023Q3-2023
Executive Search Member
Executive Search Member
 $0 ▲$190.00M ▲$210.00M ▲$200.00M ▼
Heidrick Consulting
Heidrick Consulting
 $0 ▲$20.00M ▲$30.00M ▲$20.00M ▼
OnDemand Talent
OnDemand Talent
 $0 ▲$30.00M ▲$40.00M ▲$40.00M ▲
Reimbursements
Reimbursements
 $0 ▲$0 ▲$0 ▲$0 ▲
Service
Service
 $240.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the last several years, showing that the business has expanded meaningfully since 2020. However, profits have not grown in a straight line. Operating and net income appear to have peaked a couple of years ago and then stepped down more recently, even as sales stayed healthy. This points to some margin pressure, likely from higher costs, investments in new capabilities, or a softer environment for higher‑margin search work. Earnings per share swung from a loss during the pandemic to strong profits, and then dropped sharply in the latest year, suggesting that current profitability is much thinner than during the prior peak period and more sensitive to business conditions.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively strong. Total assets have grown over time, with cash balances increasing and now representing a sizable portion of the company’s resources. Debt levels are low and stable, indicating limited financial leverage and modest interest burden. Shareholders’ equity has been trending upward, which is consistent with accumulated profitability over the period. Overall, the company appears to operate with a net cash position, giving it flexibility to invest, weather downturns, or absorb volatility in its cyclical industry.

Cash Flow

Cash Flow Cash generation has generally been solid over the five‑year span, though not without bumps. After a very strong year for operating cash flow in 2021, there was a notable setback in 2023 when cash from operations turned negative, likely reflecting working capital swings or a weaker operating environment. Free cash flow closely tracks operating cash flow because capital spending is modest and fairly steady. In the latest year, cash flow recovered into clearly positive territory again, suggesting that the 2023 weakness may have been more of a temporary disruption than a structural shift, but it does highlight the business’s sensitivity to economic and hiring cycles.

Competitive Edge

Competitive Edge Heidrick & Struggles is a long‑established brand in high‑end executive search, particularly at the CEO and board levels, where trust, relationships, and reputation are critical. This history and C‑suite focus create meaningful barriers for newer competitors. The company has also broadened its offering into leadership consulting and on‑demand talent, using a unified “One Heidrick” approach to deepen client relationships and spread its exposure across different talent needs. Its emphasis on data‑driven assessments and analytics‑rich advisory work adds another layer of differentiation versus more traditional staffing or search firms. The main risks are the inherent cyclicality of executive hiring and competition from large diversified HR firms and niche boutiques, especially in weak macro environments.

Innovation and R&D

Innovation and R&D The firm is investing heavily in technology and analytics to modernize a historically relationship‑driven business. The Heidrick Navigator platform, built on AI and machine learning, is designed to give clients continuous insight into their leadership pipeline and succession plans, shifting at least part of the model toward recurring, subscription‑like revenue. Proprietary tools that measure leadership style, culture fit, and agility further support a more scientific, evidence‑based approach. These innovations, combined with digital‑enabled consulting and on‑demand talent, position Heidrick & Struggles as more than a traditional search firm. The opportunity is to turn this into a scalable, sticky ecosystem, though client adoption, pricing power, and differentiation relative to other AI‑enabled HR tools remain key uncertainties.

Summary

Overall, Heidrick & Struggles shows a mix of steady revenue growth, a strong and cash‑rich balance sheet, and generally positive free cash flow, set against more volatile profitability and cash generation in recent years. The business remains exposed to economic and hiring cycles, which can compress margins and earnings when demand for executive search softens. At the same time, the company’s long‑standing brand, focus on top leadership roles, and expansion into consulting, on‑demand talent, and AI‑driven platforms give it multiple levers for growth and resilience. Future performance will likely hinge on how well it can stabilize margins, scale its digital and analytics offerings, and keep differentiating its integrated leadership solutions in a competitive, evolving market.

NEWS

November 18, 2025 · 7:00 AM UTC

FINAL NOTICE: Kaskela Law LLC Announces Investigation into Proposed $59.00 Per Share Buyout of Heidrick & Struggles (NASDAQ: HSII) Stockholders and Encourages Investors to Contact the Firm to Protect Their Investment

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November 12, 2025 · 8:00 AM UTC

STOCKHOLDER NOTICE: Kaskela Law LLC Announces Investigation into Fairness of Proposed $59.00 Per Share Buyout of Heidrick & Struggles (NASDAQ: HSII) Stockholders and Encourages HSII Investors to Contact the Firm to Maximize Their Investment

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November 3, 2025 · 8:00 AM UTC

Heidrick & Struggles Delivers 16% Revenue Growth in Q3, Driving Strong Profitability

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October 28, 2025 · 8:00 AM UTC

Kaskela Law LLC Investigates Fairness of Proposed $59.00 Per Share Buyout of Heidrick & Struggles International, Inc. (NASDAQ: HSII) Stockholders and Encourages Investors to Contact the Firm

Read more

October 24, 2025 · 2:23 PM UTC

Shareholder Alert: The Ademi Firm continues to investigates whether Heidrick & Struggles International Inc. is obtaining a Fair Price for its Public Shareholders

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