MAN
ManpowerGroup Inc. (MAN)
Last Price$59.9(2.1%)
Market Cap$2,853.5M
DCF value
$207.6
Undervalued (DCF value)
246.6%
Discount Rate
7.8%
Long-Term Growth Rate
2.0%
Stock quality
5/10
Good

MAN DCF Model

Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
Dec'20 ActualDec'21 ActualDec'22 ActualDec'23 ActualDec'24 ActualDec'25 EstimateDec'26 EstimateDec'27 EstimateDec'28 EstimateDec'29 EstimateDec'30 EstimateDec'31 EstimateDec'32 EstimateDec'33 EstimateDec'34 EstimateDec'35 Terminal
% growth
18,001.0
(13.7%)
20,724.4
15.1%
19,827.5
(4.3%)
18,914.5
(4.6%)
3,086.8
(83.7%)
16,939.3
448.8%
17,564.4
3.7%
18,194.9
3.6%
18,811.8
3.4%
19,412.3
3.2%
19,993.4
3.0%
20,552.2
2.8%
21,085.7
2.6%
21,591.2
2.4%
22,065.9
2.2%
22,507.2
2.0%
262.7
1.5%
585.4
2.8%
581.7
2.9%
255.8
1.4%
306.0
9.9%
670.1
4.0%
694.9
4.0%
719.8
4.0%
744.2
4.0%
768.0
4.0%
791.0
4.0%
813.1
4.0%
834.2
4.0%
854.2
4.0%
873.0
4.0%
890.4
4.0%
NOPAT
% effective tax rate
42.3
0.2%
394.0
1.9%
390.3
2.0%
110.3
0.6%
172.9
5.6%
378.6
2.2%
392.6
2.2%
406.7
2.2%
420.5
2.2%
433.9
2.2%
446.9
2.2%
459.4
2.2%
471.3
2.2%
482.6
2.2%
493.2
2.2%
503.1
2.2%
% of revenue
76.3
0.4%
73.4
0.4%
84.6
0.4%
88.6
0.5%
86.6
2.8%
209.0
1.2%
216.7
1.2%
224.4
1.2%
232.1
1.2%
239.5
1.2%
246.6
1.2%
253.5
1.2%
260.1
1.2%
266.3
1.2%
272.2
1.2%
277.6
1.2%
% of revenue
(50.7)
(0.3%)
(64.2)
(0.3%)
(75.6)
(0.4%)
(78.2)
(0.4%)
(51.1)
(1.7%)
(138.3)
(0.8%)
(143.5)
(0.8%)
(148.6)
(0.8%)
(153.6)
(0.8%)
(158.5)
(0.8%)
(163.3)
(0.8%)
(167.9)
(0.8%)
(172.2)
(0.8%)
(176.3)
(0.8%)
(180.2)
(0.8%)
(183.8)
(0.8%)
703.6
3.9%
135.6
0.7%
(139.7)
(0.7%)
98.7
0.5%
65.4
2.1%
109.3
0.6%
113.3
0.6%
117.4
0.6%
121.4
0.6%
125.3
0.6%
129.0
0.6%
132.6
0.6%
136.1
0.6%
139.3
0.6%
142.4
0.6%
145.2
0.6%
Free Cash Flow to Firm (FCFF)
% of revenue
771.5
4.3%
538.8
2.6%
259.6
1.3%
219.4
1.2%
273.8
8.9%
558.6
3.3%
579.2
3.3%
600.0
3.3%
620.3
3.3%
640.1
3.3%
659.3
3.3%
677.7
3.3%
695.3
3.3%
712.0
3.3%
727.6
3.3%
742.2
3.3%
% of FCFF used in calculation
80.8%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Discount period
0.50
1.50
2.50
3.50
4.50
5.50
6.50
7.50
8.50
9.50
Discount factor
0.96
0.89
0.83
0.77
0.71
0.66
0.61
0.57
0.53
0.49
Discounted FCFF (DFCFF)
434.8
517.4
497.1
476.7
456.3
435.9
415.6
395.5
375.7
356.1

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MAN DCF Value

DCF Value Calculation

as of Mar 11, 2025
Sum of DFCFF
% share of EV
4,361.3M
41.1%
Terminal Value (TV)
12.8B
Discounted TV
% share of EV
6,250.9M
58.9%
Total Debt
1,231.8M
9,889.8M
Shares outstanding
47.6M
FX rate
1.0
246.6% undervalued

Equity Value Bridge

MAN DCF Financials

Revenue
$3,086.8M -> $22.1B 21.7% CAGR
Operating Income
$306.0M -> $873.0M 11.1% CAGR
FCFF
$273.8M -> $727.6M 10.3% CAGR

MAN DCF sensitivity

DCF value
Long-term Terminal growth rate
1.0%
1.5%
2.0%
2.5%
3.0%
WACC
7.0%
$216.0
$229.0
$244.0
$262.0
$284.0
7.5%
$198.0
$208.0
$220.0
$234.0
$252.0
7.8%
$188.0
$197.0
$208.0
$220.0
$235.0
8.5%
$169.0
$176.0
$184.0
$193.0
$204.0
9.0%
$158.0
$163.0
$170.0
$177.0
$186.0
DCF value, undervalued / overvalued
Long-term Terminal growth rate
1.0%
1.5%
2.0%
2.5%
3.0%
WACC
7.0%
261.0%
282.0%
307.0%
337.0%
374.0%
7.5%
231.0%
247.0%
267.0%
291.0%
321.0%
7.8%
214.0%
229.0%
247.0%
267.0%
292.0%
8.5%
182.0%
194.0%
207.0%
222.0%
241.0%
9.0%
164.0%
172.0%
184.0%
196.0%
211.0%

Explore more intrinsic value tools hub for MAN

FAQ

What is ManpowerGroup Inc. DCF (discounted cash flow) valuation?

As of Mar 11, 2025, ManpowerGroup Inc.'s Discounted Cash Flow (DCF) valuation estimates its share price at $207.6. This suggests it may be undervalued by 246.6% compared to its current price of around $59.9, using a WACC of 7.8% and growth rates of 2.0%.

What is ManpowerGroup Inc. WACC?

As of Mar 11, 2025, ManpowerGroup Inc.'s Weighted Average Cost of Capital (WACC) is approximately 7.8%.

What is ManpowerGroup Inc. Enterprise Value?

As of Mar 11, 2025, ManpowerGroup Inc.'s Enterprise Value (EV) is approximately $10.6B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.