Kelly Services, Inc. (KELYA) Stock

Kelly Services, Inc. (KELYA) is a Technology stock trading at $17.09 (as of 2026-08-21), with a market capitalization of $601.57M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Kelly Services, Inc., together with its subsidiaries, provides workforce solutions including staffing and related services across multiple industries through segments such as Professional & Industrial, Science, Engineering & Technology, Education, Outsourcing & Consulting, and International. It serves clients in the United States and internationally, including Canada, Mexico, Puerto Rico, and parts of Europe.

Understand Kelly Services, Inc.: how it makes money

Kelly Services provides workforce solutions, including staffing, outcome-based, and direct-hire services, and earns revenue by placing workers with clients across industries and through its education and consulting offerings.

Kelly's profit model depends on keeping its service fee spread (what clients pay minus wage costs) supported while maintaining demand and placement execution, as reflected by metrics like Professional and Industrial Fee Spread and Education Fill Rate.

Business quality (Weak): The latest quarter shows revenue near 1.0B but profitability remains weak (operating margin -0.5%), so investors likely focus on execution and pricing power signals like fee spread and placement rates.

Bull case

Placement and recovery indicators are still positive: Revenue Recovery Rate is 91.0% and Organic Revenue vs Pre-COVID-19 Levels in Constant Currency is 91.0%, suggesting demand is recovering from earlier levels.
Service execution appears supported in education: Education Fill Rate is 90.0% and Substitute Teachers Placed is 30000.0 (count), indicating active placement performance.
Pricing relative to wages has a measurable buffer: Professional and Industrial Fee Spread is 1.2%, which is a direct signal of the gap between client fees and wage costs.

Bear case

Profitability is currently negative: Operating margin is -0.5% for the 2026-03-29 period.
Revenue is still below pre-COVID levels: Organic Revenue vs Pre-COVID-19 Levels in Constant Currency is 91.0%, implying the company has not fully returned to earlier levels.
Wage inflation could pressure fee spreads and margins: Wage Inflation is 2.5% for Professional and Industrial and 9.0% for Education, which can compress economics if client pricing does not keep up.
Working capital may be a cash drag: Days Sales Outstanding is 57.0 (count), which can affect cash generation timing.

Valuation — source: SEC EDGAR (first-party)
Price	$17.09
Market Cap	$601.57M
EV / EBITDA	11.8
Price / Book	0.61
Price / Sales	0.14
FCF Yield	-0.8%
DCF Value (model)	$35.22
DCF Upside vs Price	106.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$4.25B
Net Margin	-6.0%
Revenue Growth (YoY)	-5.8%
EPS Growth (YoY)	-40.4%
FCF Growth (YoY)	-77.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.91 (grey)
Piotroski F-Score	5/9 (moderate)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Business Services)	29.9

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock Fund Advisors ($56.79M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Business Services
CEO	Christopher D. Layden
Employees	5,570
Country	US
IPO Date	1980-03-17

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Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.