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We provide an array of human resources ( HR ) and business solutions designed to help improve business performance. Since our formation in 1986, we have evolved from being solely a professional employer organization ( PEO ), an industry we pioneered, to our current position as a comprehensive business performance solutions provider.
The business is unprofitable at the operating level (-0.15% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 3.5%, steady but not accelerating. Free cash flow declined 164% despite revenue growth, conversion is weakening.
Free cash flow declined 164% versus the prior year, cash generation momentum has weakened. ROIC dropped from 15.03% to -1.50%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$6.84B
▲ +3.5% YoY
Net Income (TTM)
-$25M
▼ -107.7% YoY
Op. Margin
-0.23%
▼ -1.9pp YoY
ROIC
-2.44%
▼ -16.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$67M
▼ -164.1% YoY
Op. Cash Flow (TTM)
$98M
▼ -153.5% YoY
Net Debt
-$148M
Net Cash Position
Cash & Equiv.
$578M
5Y CAGR: +9.7%
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