Adecco Group AG Class N (ADEN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Adecco Group AG Class N stock CHF 25.75, price CHF 22.68, upside +13.5%, quality 63 out of 100. Rating: undervalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range CHF 14.86 – CHF 42.84 · fair‑value band CHF 15.11 – CHF 40.71 · the CHF 22.68 price screens below the CHF 25.75 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
Follow Adecco Group AG Class N in your weekly email
Every Wednesday you see whether Adecco Group AG Class N is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Adecco Group AG, together with its subsidiaries, provides human resource services to businesses and organizations in Europe, North America, the Asia Pacific, South America, and North Africa.
Show moreShow less
It offers flexible placement, permanent placement, career transition and mobility, outsourcing, engineering consulting, digital and IT, talent advisory, coaching, training, up-skilling and re-skilling, and other services under the Adecco, Akkodis, Ajilon, General Assembly, LHH, Pontoon, Spring, UK&I, Badenoch & Clark, Office Angels, Penna, Roevin, Adia, Ezra, and Modis brand names.
The company was formerly known as Adecco S.A. Adecco Group AG was founded in 1957 and is based in Zurich, Switzerland.
Stock analysis
Adecco Group AG Class N (ADEN) currently trades at CHF 22.68, while our model-based Fair Value estimate is CHF 25.75, implying the stock looks roughly 12% undervalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of CHF 32.20 per share, and 12 of the 22 models we run sit above the CHF 22.68 price.
Bear case: the Dividend Discount group reads lowest at CHF 11.35, and 10 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: CHF 15.11 (bear) to CHF 40.71 (bull), the price of CHF 22.68 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Adecco Group AG Class N reported revenue of €23.2B in FY2025 versus €20.9B in FY2021, a compound +2.6%/yr. Reported net income was €295M in FY2025, compounding −15.8%/yr from FY2021.
Key figures
Market cap CHF 3.8B Mid · P/E ratio 14.3 · P/S ratio 0.18 · EPS (TTM) CHF 1.59 · Dividend yield 4.4% · Net margin 1.3% · Return on equity 8.7% · Return on assets (EBIT) 5.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 9% below its 52-week high and 53% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 26% fair-value upside, at 14%, ADEN screens richer than that median.
Fair Value models
BearCHF 15.11Fair Value CHF 25.75BullCHF 40.71
Price CHF 22.68 · Upside +13.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (CHF 0.5043 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+0.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.5%
Start year 2020 (pandemic). Over 10 years: +0.5% a year
Revenue growth 31 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.0%
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−11.0%
Earnings growth per share plus dividend.
Earnings per share, growth per year−15.4%
Dividend (yield on the price)4.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−15.4% vs −7.0%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.1% → 2%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes about as much growth as the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+1.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+2.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −0.7% a year for the price and +0.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (86 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: Adecco strengthens recruiting through AI agents that add placement capacity while its main weak point remains the limited durable moat and low margins of the staffing sector.
Main risk: The cyclical staffing sector threatens Adecco's placement volumes and thin margins when hiring demand weakens across markets.
Adecco is expanding AI agents throughout recruiting, its core activity that accounts for 60 to 70 percent of the business. The CEO stresses that processes must be fixed first and that the tools support recruiters instead of replacing them, already adding capacity for 20,000 extra placements. Will the gains mainly come from higher efficiency and fill rates, or will the human element that still defines most hiring decisions limit the upside?
Compare Adecco Group AG Class N with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Staffing & Employment Services · 82 stocks
P/B1.23× · book value is mostly goodwill ⓘGoodwill and other intangible assets are larger than the equity. The book value mainly reflects prices paid for past acquisitions, so we do not rank this P/B against the peer group.
P/S (12 months)0.18× · Cheaper than median
Price / free cash flow (fiscal year)8.5× · Cheaper than median
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Adecco Group AG Class N Fair Value". https://www.fairvalue-calculator.com/stock/ADEN
Frequently asked questions
Is Adecco Group AG Class N (ADEN) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of CHF 25.75 versus a price of CHF 22.68, about +14% upside (undervalued).
What is the fair value of ADEN?
Our model-based fair value for Adecco Group AG Class N is CHF 25.75 (as of Nov 6, 2026), built from audited fundamentals. The current price: CHF 22.68.
What is the quality score of ADEN?
Adecco Group AG Class N has a Quality Score of 63/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Adecco Group AG Class N (ADEN)?
Our model-based price target is the fair value of CHF 25.75 (as of Nov 6, 2026) from 22 valuation models. Cautious scenario CHF 15.11, optimistic scenario CHF 40.71. It is a calculation from audited fundamentals, not an analyst target.
What is the Adecco Group AG Class N stock forecast for 2026?
Our models put fair value at CHF 25.75, about +14% upside versus a price of CHF 22.68 (undervalued). Cautious scenario CHF 15.11, optimistic scenario CHF 40.71. The calculation is refreshed regularly with new filings.
What is the revenue of Adecco Group AG Class N (ADEN)?
Adecco Group AG Class N reported trailing-twelve-month revenue of about €23.4B (latest available figure, as of Nov 6, 2026).
Does Adecco Group AG Class N pay a dividend?
Adecco Group AG Class N currently shows a dividend yield of 4.41% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of Adecco Group AG Class N (ADEN) and when is the ex-dividend date?
Adecco Group AG Class N pays a dividend of CHF 1.00 per share a year, a dividend yield of 4.4%. The last ex-dividend date was Apr 20, 2026. A dividend has been paid every year since at least 1996. The payout ratio is 64.3% of earnings. Free cash flow covers the dividend 2.56 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Adecco Group AG Class N (ADEN)?
For today's price to be fair in a discounted-cash-flow model, Adecco Group AG Class N would have to grow free cash flow by +1.4 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +3.5 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of ADEN use?
Our models discount Adecco Group AG Class N at 9.5 %: a base by market capitalisation (mid), damped by beta 0.98, country premium for Switzerland. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Adecco Group AG Class N that is +1.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has Adecco Group AG Class N (ADEN) delivered so far?
Over the past 5 years revenue at Adecco Group AG Class N grew +3.5 % a year. The price currently implies free-cash-flow growth of +1.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Adecco Group AG Class N (ADEN) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into Adecco Group AG Class N (+1.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Adecco Group AG Class N (ADEN)?
The free-cash-flow yield on the price is 11.73 %: that much free cash flow Adecco Group AG Class N produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Adecco Group AG Class N (ADEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Adecco Group AG Class N it is CHF 25.75 per share (as of Nov 6, 2026), against a price of CHF 22.68. It is the blended result of 22 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Adecco Group AG Class N stock overvalued or undervalued in 2026?
As of Nov 6, 2026, ADEN trades below its calculated fair value: price CHF 22.68, fair value CHF 25.75, a gap of about +14% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ADEN?
No. The price is what the market pays today (CHF 22.68); the fair value is what the company's own numbers justify (CHF 25.75). For Adecco Group AG Class N the two are CHF 3.07 per share apart. That gap is exactly why we show both numbers side by side.
How much is Adecco Group AG Class N worth?
The market values Adecco Group AG Class N at about CHF 3.8B (market capitalisation, as of Nov 6, 2026). Per share that is CHF 22.68; our models calculate a fair value of CHF 25.75 per share.
What do the bullish and bearish scenarios say about ADEN?
Our models span a range for Adecco Group AG Class N: cautious scenario CHF 15.11, base CHF 25.75, optimistic CHF 40.71 per share (as of Nov 6, 2026, price CHF 22.68). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ADEN?
Adecco Group AG Class N trades at a price-to-earnings ratio of 14.3 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of CHF 25.75 is built from several models across several years. Other multiples: PEG 0.8, P/B 1.2, P/S 0.2, EV/EBITDA 8.1.
What is the PEG ratio of ADEN?
The PEG ratio of Adecco Group AG Class N is 0.79 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Adecco Group AG Class N (ADEN)?
Balance-sheet figures for Adecco Group AG Class N (as of Nov 6, 2026): return on equity 8.7%, debt of 0.76 per unit of equity. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is ADEN from its 52-week high?
Adecco Group AG Class N trades at CHF 22.68, about 9% below its 52-week high of CHF 24.94 and 53% above the low of CHF 14.86 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of CHF 25.75 is for.
Which stocks are comparable to Adecco Group AG Class N?
From the same area (Industrials) we also value Randstad N.V, Korn Ferry,, Robert Half Inc, TriNet Group, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Adecco Group AG Class N stock attractive at the current price?
The data as of Nov 6, 2026: price CHF 22.68, calculated fair value CHF 25.75 (+14%), Quality Score 63/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ADEN calculated?
We run Adecco Group AG Class N through 22 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of CHF 25.75 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Adecco Group AG Class N currently trades 12% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Adecco Group AG Class N (ADEN)?
The closing price on Nov 6, 2026 was CHF 22.68. Our model-based fair value is CHF 25.75, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Adecco Group AG Class N right now?
The model range is unusually wide (CHF 15.11 to CHF 40.71). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits in the lower half of our model range, the side with the larger margin of safety. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.
Where does the earnings growth of Adecco Group AG Class N (ADEN) come from?
Earnings per share at Adecco Group AG Class N grew −4.0 % a year from 2014 to 2025. Broken into its drivers: revenue per share +1.3 %, EBIT margin −3.9 %, tax rate +0.3 %, residual (interest, one-offs) −1.6 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Adecco Group AG Class N
How large is the market capitalisation of Adecco Group AG Class N (ADEN)?
The market capitalisation of Adecco Group AG Class N is CHF 3.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Adecco Group AG Class N (ADEN)?
The price-to-sales ratio of Adecco Group AG Class N is 0.18 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Adecco Group AG Class N (ADEN)?
Earnings per share at Adecco Group AG Class N are CHF 1.59 (price ÷ EPS = P/E 14.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Adecco Group AG Class N (ADEN)?
The dividend yield of Adecco Group AG Class N is 4.4% (payout 62.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Adecco Group AG Class N (ADEN)?
The net margin of Adecco Group AG Class N is 1.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Adecco Group AG Class N (ADEN)?
The return on equity (ROE) of Adecco Group AG Class N is 8.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Adecco Group AG Class N (ADEN)?
On an EBIT basis the return on assets of Adecco Group AG Class N is 5.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Adecco Group AG Class N (ADEN)?
The operating margin of Adecco Group AG Class N is 2.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Adecco Group AG Class N (ADEN)?
Revenue at Adecco Group AG Class N is growing +3.8% versus a year earlier (3y avg −0.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Adecco Group AG Class N (ADEN)?
Earnings per share at Adecco Group AG Class N are growing −20.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Adecco Group AG Class N (ADEN) carry?
The net debt of Adecco Group AG Class N is €3.1B (fiscal year 2025, ≈ 6.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch Adecco Group AG Class N in the live analysis
One click puts Adecco Group AG Class N on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Some data
Nov 6, 2026