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KELYA

Kelly Services, Inc.

KELYA

Kelly Services, Inc. • NASDAQ
$8.64 ▲ 0.35% (+0.03)
Market Cap $304.78 M
52w High $15.71
52w Low $7.98
Dividend Yield 0.30%
P/E -1.95
Volume 152.76K
Outstanding Shares 35.28M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $935M ▼ $296.1M ▲ $-150.1M ▼ -16.053% ▼ $-4.26 ▼ $-93.2M ▼
Q2-2025 $1.102B ▼ $203.3M ▼ $19M ▲ 1.724% ▲ $0.54 ▲ $34.7M ▲
Q1-2025 $1.165B ▼ $225.7M ▼ $5.8M ▲ 0.498% ▲ $0.16 ▲ $32.5M ▼
Q4-2024 $1.191B ▲ $298.2M ▲ $-31.8M ▼ -2.67% ▼ $-0.87 ▼ $35.3M ▲
Q3-2024 $1.038B $219.1M $800K 0.077% $0.02 $16.9M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $30.1M ▲ $2.393B ▼ $1.278B ▲ $1.115B ▼
Q2-2025 $18M ▼ $2.512B ▼ $1.246B ▼ $1.266B ▲
Q1-2025 $28.2M ▼ $2.595B ▼ $1.354B ▼ $1.24B ▲
Q4-2024 $39M ▲ $2.632B ▼ $1.398B ▼ $1.235B ▼
Q3-2024 $32.8M $2.689B $1.407B $1.282B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $19M ▲ $95.4M ▲ $21.5M ▲ $-133.2M ▼ $-10M ▲ $93.4M ▲
Q1-2025 $5.8M ▲ $23.9M ▲ $3.2M ▲ $-39.5M ▼ $-11.1M ▼ $21.4M ▲
Q4-2024 $-31.8M ▼ $15M ▲ $-6.1M ▼ $-2.5M ▼ $5.2M ▲ $13M ▲
Q3-2024 $800K ▼ $-20.3M ▼ $-2.4M ▲ $15.7M ▼ $-5.2M ▲ $-22.7M ▼
Q2-2024 $4.5M $57.7M $-425.2M $206.3M $-163.3M $54.7M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Education
Education
 $0 ▲$0 ▲$310.00M ▲$270.00M ▼
Science Engineering Technology
Science Engineering Technology
 $0 ▲$0 ▲$320.00M ▲$320.00M ▲
Service
Service
 $1.04Bn ▲$2.24Bn ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been slowly drifting down rather than growing, and profits have been thin and inconsistent. Gross profit is steady in absolute terms, but operating income hovers close to break‑even, showing that the core staffing business still runs on very tight margins. Net results have swung between modest profits and modest losses over the last few years, with earnings per share quite volatile. Overall, this looks like a mature, cyclical business in the middle of a strategic shift, where the income statement is not yet clearly reflecting the benefits of the newer, higher‑margin focus areas.

Balance Sheet

Balance Sheet The balance sheet looks generally solid and conservative. Total assets and shareholders’ equity have been fairly stable over time, which suggests no aggressive balance‑sheet leverage or rapid expansion. Debt levels remain modest relative to the size of the business, even though borrowings ticked up recently, implying room to maneuver if conditions weaken. The cash cushion has come down compared with a few years ago, which slightly reduces financial flexibility but does not point to immediate stress given the still‑light use of debt.

Cash Flow

Cash Flow Cash generation is positive but not strong. Operating cash flow has been modestly positive in most years, with one weak year in the recent past. Free cash flow follows the same pattern: generally positive, but not large, reflecting tight margins and the cyclical nature of staffing. Capital spending is low, consistent with an asset‑light service model, so even modest operating cash can translate into free cash flow. The trend, however, shows that cash flow strength has not been steadily improving yet, which means the financial benefits of the strategic pivot are still emerging rather than firmly established.

Competitive Edge

Competitive Edge Kelly operates in a fiercely competitive staffing and workforce‑solutions market, with pressure from large global peers, specialist boutiques, and digital platforms. Its key strengths are a long operating history, a recognized brand, and a broad global network, all of which support trust with large clients. The company is working to move away from low‑margin, general staffing and toward specialized, higher‑value segments like technology, science, engineering, and education, plus outsourcing and consulting solutions. The recent large acquisition in technology and government staffing strengthens its position in attractive niches and adds scale in RPO and managed services. Even so, the industry remains cyclical and price‑sensitive, and Kelly’s advantages depend on successful execution of its specialization and technology‑led strategy.

Innovation and R&D

Innovation and R&D Instead of classic lab‑style R&D, Kelly invests in technology, data, and specialized service design. It is building AI‑driven tools such as its GRACE assistant and “digital workers” to automate repetitive tasks and support recruiters, aiming to improve speed, accuracy, and client experience. Proprietary platforms like Kelly Now and Kelly Helix are meant to embed analytics and automation into staffing and outsourcing workflows. The company is also modernizing core systems like applicant tracking and CRM, which should improve data quality and scalability. On top of that, it is using acquisitions to bring in modern tech stacks and deep expertise in high‑demand domains such as tech and telecom. The innovation agenda is clear and ambitious, but the payoff depends on how well these tools are adopted internally and valued by clients.

Summary

Kelly Services is a mature staffing company in the midst of a significant transformation. Financially, it shows stable scale but tight margins, uneven profitability, and modest, variable cash generation. The balance sheet is relatively conservative with low leverage, providing a degree of safety while the company reshapes its business mix. Strategically, Kelly is working to move from traditional, commoditized staffing toward specialized, tech‑enabled talent solutions, backed by AI tools, proprietary platforms, and a major acquisition in high‑margin niches. The main opportunity is to convert this shift into more stable growth and higher margins; the main risks are execution challenges, integration of acquisitions, and ongoing exposure to economic and labor‑market cycles. Overall, this is a business at a crossroads, with a solid legacy base and a clear modernization plan, but with results that still need to demonstrate durable improvement over time.

NEWS

November 17, 2025 · 8:00 AM UTC

Kelly Education Introduces First-of-Its-Kind LEARN Standards for Substitute Teachers and Paraeducators

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November 12, 2025 · 9:21 AM UTC

Most Executives Say Ignoring AI Is a Bigger Threat to Your Career Than the Tech Itself

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November 6, 2025 · 7:30 AM UTC

Kelly Reports Third-Quarter 2025 Earnings

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November 4, 2025 · 7:30 AM UTC

Kelly Announces Participation in Upcoming Investor Conferences

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October 28, 2025 · 7:34 AM UTC

KellyOCG Named MSP and Services Procurement Leader by Everest Group

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