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Robert Half
(NYSE:RHI)
Select Model
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Rating:61Neutral
Price Target:
$48.00
▲(6.74% Upside)
Action:Reiterated
Date:08/05/26
RHI scores as a mixed setup: strong technical uptrend is the biggest positive, but financial performance remains weakened by significant revenue and margin compression. Valuation is supported by a high dividend yield, yet the elevated P/E tempers attractiveness given earnings pressure. The latest earnings call reinforced a balanced near-term outlook—Talent Solutions is improving, while Protiviti remains a meaningful headwind despite planned cost savings.
Positive Factors
Low Leverage and Balance Sheet Flexibility
Modest leverage gives Robert Half financial flexibility through a softer staffing cycle. A stable equity base and lower debt dependence can support dividends, restructuring actions and continued investment without excessive balance-sheet strain.
Negative Factors
Sustained Revenue and Margin Compression
The multi-year decline in revenue and profitability indicates more than a single-quarter setback. Low operating margins leave limited protection against further demand weakness and reduce the earnings power of the staffing and consulting platforms.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage and Balance Sheet Flexibility
Modest leverage gives Robert Half financial flexibility through a softer staffing cycle. A stable equity base and lower debt dependence can support dividends, restructuring actions and continued investment without excessive balance-sheet strain.
Read all positive factors
Robert Half Key Performance Indicators (KPIs)
Any
Gross Profit by Segment
Reveals the profitability of different business segments, highlighting which areas contribute most to the company's earnings and where there might be opportunities or challenges.
Reveals the profitability of different business segments, highlighting which areas contribute most to the company's earnings and where there might be opportunities or challenges.
Data provided by:
The Fly
The FlyRobert Half (RHI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.36B
Dividend Yield5.54%
Average Volume (3M)2.07M
Price to Earnings (P/E)37.0
Beta (1Y)1.01
Revenue Growth-4.95%
EPS Growth-34.47%
CountryUS
Employees14,500
SectorIndustrials
Sector Strength72
IndustryStaffing & Employment Services
Share Statistics
EPS (TTM)1.15
Shares Outstanding102,361,830
10 Day Avg. Volume2,094,011
30 Day Avg. Volume2,067,054
Financial Highlights & Ratios
PEG Ratio-0.45
Price to Book (P/B)2.13
Price to Sales (P/S)0.51
P/FCF Ratio10.19
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$35.17Price Target Upside-21.80% Downside
Rating ConsensusHold
Number of Analyst Covering7
EPS Forecast (FY)1.27
Revenue Forecast (FY)$5.31B
Robert Half Business Overview & Revenue Model
Company Description
Robert Half Inc. provides talent solutions and business consulting services in the United States and internationally. The company operates through three segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti. The ...
How the Company Makes Money
Robert Half primarily makes money through (1) staffing and talent placement fees and (2) consulting/managed-services fees through Protiviti.
1) Contract/temporary staffing (largest recurring mechanism for staffing firms): For professionals placed...
Robert Half Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 27, 2026
Earnings Call Sentiment Neutral
Mixed results: Talent Solutions shows a clear sequential recovery with stable contract margins, improving permanent placement revenues and healthy tech demand, and the company generated positive operating cash flow and announced material Protiviti cost savings. Offsetting this, overall revenues and EPS declined year-over-year, Protiviti experienced a meaningful revenue and margin pullback driven by regulatory headwinds and public sector project wind-downs, SG&A ratios rose, and reported operating income was a loss. Guidance reflects Talent Solutions growth but continued Protiviti weakness in Q3, making the near-term outlook mixed.Positive Updates
Talent Solutions Sequential Recovery
Talent Solutions delivered its third consecutive quarter of sequential revenue growth on an adjusted basis, with permanent placement operations posting adjusted year-on-year revenue growth of 2.5% and permanent placement revenues up 4% in June and the first three weeks of July versus 2025.
Negative Updates
Overall Revenue Decline
Global Enterprise revenues were $1.336 billion, down 2% on a reported basis and down 3% on an adjusted basis versus the prior year.
Read all updates
Q2-2026 Updates
Positive
Negative
Talent Solutions Sequential Recovery
Talent Solutions delivered its third consecutive quarter of sequential revenue growth on an adjusted basis, with permanent placement operations posting adjusted year-on-year revenue growth of 2.5% and permanent placement revenues up 4% in June and the first three weeks of July versus 2025.
Read all positive updates
Company Guidance
For the third quarter the company guided revenues of $1.31 billion to $1.41 billion and EPS of $0.43 to $0.53 (midpoint $1.36 billion, flat year‑over‑year on an adjusted basis), with the midpoint reflecting ~3% growth for Talent Solutions and roughly a 6% decline for Protiviti; underlying assumptions include Talent Solutions adjusted revenue growth of +1% to +5% and Protiviti down 4% to 8% (with a U.S. range cited around -2% to +2%). Key margin and cost assumptions: contract gross margin 38%–40%, Protiviti gross margin ~23%–25%; adjusted SG&A: Talent Solutions 42%–44%, Protiviti 16%–18%, consolidated 33%–35%; adjusted operating income margins: Talent Solutions 3%–5%, Protiviti 6%–8% (overall ~4%–6%). Additional guidance items include a tax rate of 33%–35%, shares of ~100–101 million, 2026 capex and capitalized cloud costs of $50M–$70M with $10M–$20M expected in Q3, Q3 billing days of 64.6 (vs. 64.2 prior year), and a Q4 directional note that Q4 has 61.1 billing days (≈5% fewer than Q3) and historically Q4 operating margins run about 0.5–1.5 percentage points below Q3; Protiviti’s Q2 severance was $7M ($0.04/share) and the restructuring yields $45M of annualized savings (≈$11M per quarter embedded in Q3 guidance).Robert Half Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
72
Positive
Cash Flow
53
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.29B | 5.38B | 5.80B | 6.39B | 7.24B | 6.46B |
| Gross Profit | 1.95B | 2.00B | 2.25B | 2.58B | 3.09B | 2.70B |
| EBITDA | 149.32M | 244.38M | 446.99M | 675.55M | 1.02B | 796.96M |
| Net Income | 114.78M | 132.99M | 251.60M | 411.15M | 657.92M | 598.63M |
Balance Sheet | ||||||
| Total Assets | 2.86B | 2.86B | 2.85B | 3.01B | 2.96B | 2.95B |
| Cash, Cash Equivalents and Short-Term Investments | 324.71M | 464.44M | 537.58M | 731.74M | 658.63M | 619.00M |
| Total Debt | 240.81M | 421.28M | 402.42M | 403.34M | 389.62M | 446.37M |
| Total Liabilities | 1.65B | 1.58B | 1.48B | 1.42B | 1.40B | 1.57B |
| Stockholders Equity | 1.21B | 1.28B | 1.38B | 1.59B | 1.57B | 1.38B |
Cash Flow | ||||||
| Free Cash Flow | 215.06M | 266.81M | 354.15M | 591.01M | 622.63M | 566.52M |
| Operating Cash Flow | 256.29M | 319.96M | 410.47M | 636.88M | 683.75M | 603.14M |
| Investing Cash Flow | -42.11M | -85.70M | -87.12M | -112.25M | -116.62M | -87.61M |
| Financing Cash Flow | -266.23M | -330.31M | -496.44M | -460.54M | -509.18M | -458.59M |
Robert Half Technical Analysis
Positive
44.97
Price Trends
39.35
Positive
33.51
Positive
29.34
Positive
Market Momentum
1.22
Positive
52.20
Neutral
14.30
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RHI, the sentiment is Positive. The current price of 44.97 is above the 20-day moving average (MA) of 43.39, above the 50-day MA of 39.35, and above the 200-day MA of 29.34, indicating a neutral trend. The MACD of 1.22 indicates Positive momentum. The RSI at 52.20 is Neutral, neither overbought nor oversold. The STOCH value of 14.30 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RHI.
Robert Half Risk Analysis
Robert Half disclosed 29 risk factors in its most recent earnings report. Robert Half reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Robert Half Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $4.38B | 15.95 | 14.21% | 2.41% | 6.43% | 13.64% | |
73 Outperform | $976.58M | 25.72 | 29.32% | 2.90% | -1.26% | -11.37% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $4.36B | 37.03 | 9.18% | 5.54% | -4.95% | -34.47% | |
55 Neutral | $2.88B | 27.67 | 5.06% | 2.32% | 6.72% | ― | |
54 Neutral | $606.72M | -2.16 | -27.06% | 1.78% | -9.63% | -4468.44% | |
51 Neutral | $58.07M | -7.07 | -19.17% | 43.01% | -58.57% | 11.65% |
* Industrials Sector Average
RHI
Robert Half
42.58
9.49
28.67%
KELYA
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16.86
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Kforce
54.53
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84.30%
KFY
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85.35
15.01
21.33%
MAN
ManpowerGroup
61.98
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BGSF
BGSF
5.44
0.93
20.62%
Robert Half Corporate Events
Business Operations and StrategyExecutive/Board Changes
Robert Half Announces Leadership Transition at Protiviti Unit
Positive
Aug 3, 2026
On August 3, 2026, Robert Half announced a planned leadership transition at its global consulting subsidiary Protiviti, under which long-serving president and CEO Joe Tarantino will step down from that role on December 31, 2026 and become senior m...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.