Growth Metrics

ManpowerGroup (MAN) Operating Expenses (2009 - 2025)

ManpowerGroup's quarterly Operating Expenses came in at $2.7 billion in Q4 2025, up 1.62% year-on-year from $2.7 billion in Q4 2024, and up 285.93% quarter-over-quarter from $702.3 million in Q3 2025.

ManpowerGroup has reported Operating Expenses for 17 years, with the latest figure at $2.7 billion in Q4 2025.

  • For the quarter ending Q4 2025, Operating Expenses rose 1.62% year-over-year to $2.7 billion; the trailing twelve-month figure through Mar 2026 stood at $4.2 billion (up 3.69% YoY), and the FY2025 full-year result was $2.8 billion, up 2.4% from the prior year.
  • Operating Expenses for Q4 2025 stood at $2.7 billion, up from $702.3 million in the prior quarter.
  • The five-year high for Operating Expenses was $2.9 billion in Q4 2022, with the low at $30.2 million in Q3 2024.
  • Average Operating Expenses over 5 years is $864.7 million, with a median of $728.8 million recorded in 2022.
  • Year-over-year, Operating Expenses jumped 2494.74% in 2021 and sank 95.98% in 2024.
  • Tracing MAN's Operating Expenses over 5 years: stood at $759.7 million in 2021, then jumped by 278.56% to $2.9 billion in 2022, then tumbled by 70.44% to $850.2 million in 2023, then soared by 213.71% to $2.7 billion in 2024, then climbed by 1.62% to $2.7 billion in 2025.
  • The last three Operating Expenses figures came in at $2.7 billion (Q4 2025), $702.3 million (Q3 2025), and $789.0 million (Q2 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Korn Ferry 3.61 Bn 2.64 Bn 724.93 Mn 634.03 Mn
2 Robert Half 2.93 Bn 2.65 Bn 479.91 Mn 443.00 Mn
3 Trinet 2.15 Bn 684.96 Mn 1.16 Bn 1.10 Bn
4 ManpowerGroup 1.48 Bn 1.25 Bn 723.00 Mn -
5 Insperity 1.31 Bn 754.86 Mn 302.00 Mn 240.00 Mn
6 Barrett Business Services 814.51 Mn 722.64 Mn 43.19 Mn 47.48 Mn
7 Kforce 805.03 Mn 803.69 Mn 90.07 Mn 76.76 Mn
8 Kelly Services 399.73 Mn 374.13 Mn 196.40 Mn 199.30 Mn
9 TrueBlue 187.20 Mn 163.07 Mn 79.02 Mn 87.30 Mn
10 HireQuest 182.43 Mn 181.41 Mn - 1.89 Mn

Historic Data

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DateValue
Dec 31, 2025 2.71 Bn
Sep 30, 2025 702.30 Mn
Jun 30, 2025 789.00 Mn
Mar 31, 2025 670.10 Mn
Dec 31, 2024 2.67 Bn
Sep 30, 2024 30.20 Mn
Jun 30, 2024 684.80 Mn
Mar 31, 2024 41.70 Mn
Dec 31, 2023 850.20 Mn
Sep 30, 2023 752.10 Mn
Jun 30, 2023 35.50 Mn
Mar 31, 2023 745.20 Mn
Dec 31, 2022 2.88 Bn
Sep 30, 2022 717.00 Mn
Jun 30, 2022 740.50 Mn
Mar 31, 2022 758.40 Mn
Dec 31, 2021 759.70 Mn
Sep 30, 2021 36.00 Mn
Jun 30, 2021 690.20 Mn
Mar 31, 2021 37.20 Mn
Dec 31, 2020 -1.86 Bn
Sep 30, 2020 663.50 Mn
Jun 30, 2020 26.60 Mn
Mar 31, 2020 686.30 Mn
Dec 31, 2019 32.90 Mn
Sep 30, 2019 29.20 Mn
Jun 30, 2019 739.60 Mn
Mar 31, 2019 27.90 Mn
Dec 31, 2018 31.00 Mn
Sep 30, 2018 26.30 Mn
Jun 30, 2018 25.90 Mn
Mar 31, 2018 731.60 Mn
Dec 31, 2017 697.10 Mn
Sep 30, 2017 671.90 Mn
Jun 30, 2017 666.50 Mn
Mar 31, 2017 659.90 Mn
Dec 31, 2016 634.30 Mn
Sep 30, 2016 647.20 Mn
Jun 30, 2016 664.70 Mn
Mar 31, 2016 642.10 Mn
Dec 31, 2015 670.00 Mn
Sep 30, 2015 645.80 Mn
Jun 30, 2015 651.90 Mn
Mar 31, 2015 639.20 Mn
Dec 31, 2014 675.50 Mn
Sep 30, 2014 693.30 Mn
Jun 30, 2014 709.90 Mn
Dec 31, 2013 719.60 Mn
Sep 30, 2013 691.20 Mn
Jun 30, 2013 708.30 Mn
Mar 31, 2013 735.70 Mn
Dec 31, 2012 771.80 Mn
Sep 30, 2012 737.60 Mn
Jun 30, 2012 767.30 Mn
Mar 31, 2012 753.60 Mn
Dec 31, 2011 805.40 Mn
Sep 30, 2011 793.30 Mn
Jun 30, 2011 811.40 Mn
Mar 31, 2011 772.00 Mn
Dec 31, 2010 1.25 Bn
Sep 30, 2010 732.30 Mn
Jun 30, 2010 717.90 Mn
Dec 31, 2009 4.78 Bn
Sep 30, 2009 -664.60 Mn
Jun 30, 2009 673.30 Mn