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⚠️ Not investment advice. Past performance does not guarantee future results.
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Adecco Group ADEN.SW

Switzerland Industrials
5.5/10
AI Analyst score
24.54 CHF
Last price at analysis date · analyst target 25.09 (+2.2%)
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🟡 HOLD — Hold, with attention to the evolution of leverage and the recovery of earnings growth.

Adecco Group is a Swiss global leader in HR solutions, offering temporary and permanent staffing, outsourcing, and talent management services to companies across various sectors. Adecco shows an attractive valuation (P/E 15.14, FCF yield 10.69%) and a sustainable dividend, but its financial health is weighed down by high leverage (ND/EBITDA 4.11) and a very low operating margin (2.40%). Earnings growth is negative (-20.30%), although recent signals point to a potential improvement.

Financial health
3.6
Quality / Moat
4.4
Valuation
7.8
Growth
3.9
Dividend
7.3
Momentum
5.5
Risk & Context
5.7

Detailed metrics

Market and fundamental data as of the analysis date.

💵 Valuation
P/E15.14
Fwd P/E9.46
EV/EBITDA9.86
P/B1.33
P/S0.19
PEG0.78
Market cap4.25 B CHF
Enterprise value7.70 B EUR
🏰 Quality and moat
ROIC (approx.)7.9%
Gross margin18.92%
FCF conversion62%
Operating margin2.40%
📈 Profitability and margins
ROE8.70%
ROA3.41%
Net margin1.25%
FCF480.4 M EUR
FCF yield10.69%
🏦 Solvency and liquidity
Total debt3.70 B EUR
Net debt3.21 B EUR
Cash494.0 M EUR
EBITDA781.0 M EUR
Net debt / EBITDA4.11
D/E105.59
Current ratio1.15
Quick ratio1.03
🚀 Growth
Revenue growth3.80%
Earnings growth-20.30%
EPS (TTM)1.62 CHF
EPS (Fwd)2.59 CHF
💰 Dividend and risk
Dividend yield4.07%
Payout62.5%
Beta1.01
Analyst consensusHold (17)
Target price25.09 CHF
52-week range14.54 CHF – 26.22 CHF
⚠️ Main risk: High leverage (ND/EBITDA 4.11) in a rising rate environment in Europe, which could pressure financial health if earnings growth does not recover.
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Full AI report

Generated automatically from the metrics, the macro context and the company's news.

Adecco Group is a Swiss global leader in HR solutions, offering temporary and permanent staffing, outsourcing, and talent management services to companies across various sectors. Adecco shows an attractive valuation (P/E 15.14, FCF yield 10.69%) and a sustainable dividend, but its financial health is weighed down by high leverage (ND/EBITDA 4.11) and a very low operating margin (2.40%). Earnings growth is negative (-20.30%), although recent signals point to a potential improvement.

Score by category

CategoryScore
Financial health3.6
Quality / Moat4.4
Valuation7.8
Growth3.9
Dividend7.3
Momentum5.5
Risk & Context5.7

OVERALL SCORE: 5.5/10

Context and risks

Moderate governance/regulatory risk in Switzerland. The staffing business is sensitive to labor regulation in its key markets, but no specific material geopolitical or regulatory risk has been identified.

News considered in the analysis

  • Jefferies backs SPIE on growth recovery, upgrades Adecco as estimates improve — Upgrade de analista con mejora de estimaciones, señal positiva moderada para el crecimiento.
  • Adecco Group AG (AHEXY) (Q2 2026) Earnings Call Highlights: Strong Revenue Growth and AI-Driven ... — Resultados del Q2 con crecimiento de ingresos y enfoque en IA, refuerza la narrativa de mejora operativa.
  • Salesforce Investor Day Unveils AIforce, Claudeforce and $63B FY2030 Revenue Target — Noticia sobre Salesforce, sin relación directa con Adecco.
  • 3 Outsourcing Stocks to Consider Despite Industry Challenges — Listículo genérico del sector sin información específica sobre Adecco.
  • What Does Adecco Group (SWX:ADEN) Winning An HR Tech Award Signal? — Premio de tecnología, refuerza la marca pero sin impacto financiero directo.

Verdict: Hold, with attention to the evolution of leverage and the recovery of earnings growth.

Main risk: High leverage (ND/EBITDA 4.11) in a rising rate environment in Europe, which could pressure financial health if earnings growth does not recover.

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Automatically generated analysis from fundamental, market and news data. Not personalised financial advice — a research tool, not an individual recommendation. Past performance does not guarantee future results. Last update of this analysis: 2026-09-28. Legal notice, privacy & cookies.