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Adecco Group (ADEN) Fair Value & Analysis

Industrials · CH · Market cap CHF 3.5B

AG Adecco Group ADEN · SW
PriceCHF 23.66
Fair ValueCHF 23.73
Upside+0.3%
Quality62/100
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Healthy Growth
Thin margins · 1.3% net margin
Moderate debt · generates free cash flow
Mixed vs. peers (8/15)
Narrow moat 32/100
Evidence: High Range CHF 15.23 – CHF 38.20 Share as image

Fair value as of: Jul 18, 2026

From 24 valuation models · updated 22 days ago

Fair value updated Jul 18, 2026, revised from CHF 25.69 to CHF 23.73 (−7.6%) since Jul 14, 2026. Share price +45.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (CHF 15.23 to CHF 38.20) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

CHF 51.42 CHF 14.86 Fair Value CHF 23.73 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range CHF 14.86 – CHF 51.42 · fair‑value band CHF 15.23 – CHF 38.20 · the CHF 23.66 price screens below the CHF 23.73 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Adecco Group (ADEN) currently trades at CHF 23.66, while our model-based Fair Value estimate is CHF 23.73, implying the stock looks roughly 0.3% fairly valued today. The Quality Score stands at 62/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Adecco Group generated revenue of CHF 23.2B at a net margin of 1.3%. Revenue grew 1.5% year over year. It earns a return on equity of 8.6%. Net debt stands at CHF 3.1B. Fundamentals as of Jul 18, 2026

Our scenario range runs from CHF 15.23 (bear case) to CHF 38.20 (bull case); at CHF 23.66, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 23% fair-value upside, at 0%, ADEN screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF CHF 15.88 CHF 25.35 CHF 38.86 80
Residual Income CHF 16.43 CHF 17.76 CHF 20.86 76
Rev-Margin DCF CHF 14.33 CHF 27.38 CHF 41.95 74
All 24 models by family
DCF Models
FCF DCF CHF 15.01 CHF 24.98 CHF 40.00 38
Owner Earnings CHF 8.96 CHF 16.75 CHF 28.47 31
5Y Revenue Exit CHF 14.33 CHF 26.95 CHF 43.34 39
5Y EBITDA Exit CHF 20.80 CHF 38.16 CHF 58.59 41
5Y P/E Exit CHF 12.37 CHF 23.57 CHF 35.31 38
10Y Revenue Exit CHF 13.60 CHF 24.60 CHF 37.54 36
10Y EBITDA Exit CHF 18.27 CHF 31.90 CHF 47.90 37
10Y P/E Exit CHF 13.17 CHF 22.39 CHF 32.08 35
Earnings-Based
Graham-Dodd CHF 11.57 CHF 22.56 CHF 28.22 54
EPV CHF 8.48 CHF 11.80 CHF 14.66 59
Dividend Discount
Gordon GGM CHF 8.98 CHF 12.37 CHF 15.73 70
DDM Multi-Stage CHF 8.98 CHF 12.34 CHF 16.13 61
Multiples
P/E Multiple CHF 26.80 CHF 35.73 CHF 44.67 63
P/S Multiple CHF 21.69 CHF 28.93 CHF 36.16 58
P/B Multiple CHF 21.69 CHF 28.93 CHF 36.16 55
EV/EBIT CHF 27.30 CHF 40.58 CHF 53.86 53
EV/EBITDA CHF 30.05 CHF 44.24 CHF 58.43 54
EV/Revenue CHF 15.90 CHF 28.08 CHF 40.27 43
Asset-Based
NCAV (Graham) CHF 9.76 CHF 13.08 CHF 19.52 50
Growth DCF
Growth DCF CHF 15.88 CHF 25.35 CHF 38.86 80
Rev-Margin DCF CHF 14.33 CHF 27.38 CHF 41.95 74
Economic Profit
Residual Income CHF 16.43 CHF 17.76 CHF 20.86 76
ROIC Compounder CHF 8.48 CHF 11.80 CHF 14.66 72
Growth Earnings
Growth-Adj P/E CHF 19.30 CHF 27.57 CHF 35.84 68

Widest divergence: Multiples (CHF 28.93) versus Earnings-Based (CHF 11.80). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) CHF 23.2B
Revenue growth (YoY) +1.5%
Net margin 1.3%
Return on equity 8.6%
Free cash flow CHF 486M FY2025
P/E ratio 10.0
More key figures
Operating margin 2.0%
EPS (TTM) CHF 1.65
EPS growth (YoY) +14.5%
Net debt CHF 3.1B FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 60 · Market factors (momentum, volatility) 51

Profitability 51
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 55
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 51
Calm price path (market factor)
Momentum 48
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 80
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Full company description

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. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Adecco Group reported revenue of CHF 23.2B in FY2025 versus CHF 20.9B in FY2021, a compound +2.6%/yr. Reported net income was CHF 295M in FY2025, compounding −15.8%/yr from FY2021.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
CHF 23.2B
Latest YoY
+0.4%
Avg. growth/yr (3Y)
−0.6%
Avg. growth/yr (5Y)
+3.5%
Avg. growth/yr (31Y)
+8.0%
Revenue +2.6%/yr
FY21 CHF 20.9B
FY22 CHF 23.6B
FY23 CHF 24.0B
FY24 CHF 23.1B
FY25 CHF 23.2B
Net income −15.8%/yr
FY21 CHF 586M
FY22 CHF 342M
FY23 CHF 325M
FY24 CHF 303M
FY25 CHF 295M

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Cite: Fair Value Calculator (2026). "Adecco Group Fair Value". https://www.fairvalue-calculator.com/stock/ADEN

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Staffing & Employment Services · 85 stocks

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.

Quality Score 62 · Above median
Fair Value upside +0% · Below median
Return on equity (TTM) 9% · Below median
Return on assets 3% · Below median
Net margin (TTM) 1% · Above median
Operating margin (TTM) 2% · Above median
Revenue growth 2% · Above median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.76× · Higher than 75% of peers

Valuation Multiples vs Staffing & Employment Services median · lower = cheaper

P/E (TTM) 11.6× · Cheaper than 75% of peers
P/B 1.30× · Cheaper than median
P/S (TTM) 0.19× · Cheaper than median
P/FCF 9.0× · Pricier than median
EV/EBITDA 8.8× · Pricier than median
PEG 0.74× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 34 · sector 41
FUTURE 8 · sector 1
PAST 34 · sector 36
HEALTH 62 · sector 95
DIVIDEND 0 · sector 60

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Staffing & Employment Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Korn Ferry, KFY $78.61 $114.56 +46%
Robert Half Inc RHI $36.70 $22.10 -40%
TriNet Group TNET $57.56 $70.85 +23%
ManpowerGroup Inc MAN $39.02 $29.67 -24%
Insperity, Inc NSP $49.48 $17.34 -65%
FESCO Group 600861 ¥13.24 ¥45.46 +243%
Grupa Pracuj S.A GPP 47.40 PLN 65.45 PLN +38%
Barrett Business Services, Inc BBSI $37.43 $38.42 +3%
Maharah for Human Resources Company 1831 5.36 SAR 6.92 SAR +29%
Kforce Inc KFRC $55.49 $31.93 -42%

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Frequently asked questions

Is Adecco Group (ADEN) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of CHF 23.73 versus a price of CHF 23.66, about +0% (fairly valued).
What is the fair value of ADEN?
Our model-based fair value for Adecco Group is CHF 23.73 (as of Jul 18, 2026), built from audited fundamentals. The current price is CHF 23.66.
What is the quality score of ADEN?
Adecco Group has a Quality Score of 62/100. 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 revenue of Adecco Group (ADEN)?
Adecco Group reported trailing-twelve-month revenue of about CHF 23.2B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of ADEN?
The net profit margin of Adecco Group is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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