ADEN Stock Analysis: Adecco N | SW
Staffing & Employment Services | SW, Switzerland | Market Cap: 3.792m CHF | 12M Return: -9.8% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 27.3M
EPS Trend: -95.4%
Qual. Beats: 2
Rev. Trend: -91.8%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Adecco Group AG is a Zurich-based human resource services provider operating across Europe, North America, the Asia Pacific, South America, and North Africa. The company was founded in 1957 and is listed on the Swiss exchange under the ticker ADEN, operating within the GICS Human Resource & Employment Services sub-industry.
Its offerings span flexible and permanent placement, career transition and mobility, outsourcing, engineering and IT consulting, talent advisory, coaching, and workforce training (up-skilling/re-skilling). Services are delivered through a multi-brand portfolio including Adecco, Akkodis, LHH, Pontoon, General Assembly, and Modis, among others. The company was formerly known as Adecco S.A.
As a major staffing firm, Adeccos revenue is closely tied to hiring cycles, making it a common proxy for broader labor market trends. The industry is fragmented and competitive, with multinational players typically competing on geographic reach, specialized segment expertise (such as IT and engineering), and value-added services beyond traditional temp placement.
- Akkodis IT consulting revenue declines amid AI budget scrutiny
- European staffing volumes weaken on German industrial slowdown
- LHH outplacement demand rises as corporate layoffs accelerate
| Net Income: 303.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA -0.35 > 1.0 |
| NWC/Revenue: 1.32% < 20% (prev 1.32%; Δ 0.00% < -1%) |
| CFO/TA 0.05 > 3% & CFO 582.8m > Net Income 303.5m |
| Net Debt (3.52b) to EBITDA (758.8m): 4.64 < 3 |
| Current Ratio: 1.06 > 1.5 & < 3 |
| Outstanding Shares: last quarter (169.1m) vs 12m ago 0.66% < -2% |
| Gross Margin: 18.87% > 18% (prev 19.35%; Δ -0.48% > 0.5%) |
| Asset Turnover: 192.3% > 50% (prev 191.8%; Δ 0.48% > 0%) |
| Interest Coverage Ratio: 8.32 > 6 (EBIT TTM 548.2m / Interest Expense TTM 65.9m) |
| A: 0.03 (Total Current Assets 5.30b - Total Current Liabilities 5.00b) / Total Assets 12.1b |
| B: 0.29 (Retained Earnings 3.47b / Total Assets 12.1b) |
| C: 0.05 (EBIT TTM 548.2m / Avg Total Assets 12.0b) |
| D: 0.41 (Book Value of Equity 3.52b / Total Liabilities 8.54b) |
| Altman-Z'' = 1.84 = BBB |
| DSRI: 1.07 (Receivables 4.41b/4.11b, Revenue 23.1b/23.0b) |
| GMI: 1.03 (GM 19.35% / 18.87%) |
| AQI: 0.97 (AQ_t 0.49 / AQ_t-1 0.50) |
| SGI: 1.01 (Revenue 23.1b / 23.0b) |
| TATA: -0.02 (NI 303.5m - CFO 582.8m) / TA 12.1b) |
| Beneish M = -2.96 (Cap -4..+1) = A |
As of July 28, 2026, the stock is trading at CHF 22.76 with a total of 1,231,495 shares traded. Over the past week, the price has changed by +12.34%, over one month by +50.73%, over three months by +28.51% and over the past year by -9.78%.
Current recommended Stop Loss: 21.10 (which is 7.3% or 2 ATR below the current price).
Adecco N has no consensus analysts rating.
Market Cap EUR = 4.08b (3.79b CHF * 1.0755 CHF.EUR)
P/E Trailing = 13.2606
P/E Forward = 10.4822
P/S = 0.1637
P/B = 1.1776
P/EG = 0.8386
Revenue TTM = 23.1b EUR
EBIT TTM = 548.2m EUR
EBITDA TTM = 758.8m EUR
Long Term Debt = 2.56b EUR (from longTermDebt, last quarter)
Short Term Debt = 468.0m EUR (from shortTermDebt, last quarter)
Debt = 3.83b EUR (from shortLongTermDebtTotal, last quarter) + Leases 485.0m
Net Debt = 3.52b EUR (calculated: Debt 3.83b - CCE 305.2m)
Enterprise Value = 7.60b EUR (4.08b + Debt 3.83b - CCE 305.2m)
Interest Coverage Ratio = 8.32 (Ebit TTM 548.2m / Interest Expense TTM 65.9m)
EV/FCF = 16.83x (Enterprise Value 7.60b / FCF TTM 451.8m)
FCF Yield = 5.94% (FCF TTM 451.8m / Enterprise Value 7.60b)
FCF Margin = 1.95% (FCF TTM 451.8m / Revenue TTM 23.1b)
Net Margin = 1.31% (Net Income TTM 303.5m / Revenue TTM 23.1b)
Gross Margin = 18.87% ((Revenue TTM 23.1b - Cost of Revenue TTM 18.8b) / Revenue TTM)
Gross Margin QoQ = 18.54% (prev 18.90%)
Tobins Q-Ratio = 0.63 (Enterprise Value 7.60b / Total Assets 12.1b)
Interest Expense / Debt = 1.72% (Interest Expense 65.9m / Debt 3.83b)
Taxrate = 34.27% (157.7m / 460.2m)
NOPAT = 360.3m (EBIT 548.2m * (1 - 34.27%))
Current Ratio = 1.06 (Total Current Assets 5.30b / Total Current Liabilities 5.00b)
Debt / Equity = 1.09 (Debt 3.83b / totalStockholderEquity, last quarter 3.52b)
Debt / EBITDA = 4.64 (Net Debt 3.52b / EBITDA 758.8m)
Debt / FCF = 7.80 (Net Debt 3.52b / FCF TTM 451.8m)
Total Stockholder Equity = 3.35b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.52% (Net Income 303.5m / Total Assets 12.1b)
RoE = 9.07% (Net Income TTM 303.5m / Total Stockholder Equity 3.35b)
RoCE = 9.28% (EBIT 548.2m / Capital Employed (Equity 3.35b + L.T.Debt 2.56b))
RoIC = 4.98% (NOPAT 360.3m / Invested Capital 7.23b)
WACC = 4.04% (E(4.08b)/V(7.91b) * Re(6.77%) + D(3.83b)/V(7.91b) * Rd(1.72%) * (1-Tc(0.34)))
Discount Rate = 6.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 49.66 | Cagr: 0.19%
[DCF] Terminal Value 74.28% ; FCFF base≈467.5m ; Y1≈438.0m ; Y5≈404.0m
[DCF] Fair Price = 16.48 (EV 6.38b - Net Debt 3.52b = Equity 2.86b / Shares 173.3m; r=8.35% [WACC [floored]]; 5y FCF grow -7.98% → 2.50% )
EPS Correlation: -95.38 | EPS CAGR: -11.77% | SUE: 1.13 | # QB: 2
Revenue Correlation: -91.75 | Revenue CAGR: -1.95% | SUE: 0.13 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.49 | Chg30d=-1.77% | Revisions=-25% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.66 | Chg30d=+5.02% | Revisions=+25% | Analysts=2
EPS current Year (2026-12-31): EPS=2.35 | Chg30d=-0.24% | Revisions=-40% | GrowthEPS=-0.8% | GrowthRev=+2.2%
EPS next Year (2027-12-31): EPS=2.62 | Chg30d=-0.69% | Revisions=-57% | GrowthEPS=+11.4% | GrowthRev=+2.7%
[Analyst] Revisions Ratio: -55% (up=1, down=7)