Kelly Services, Inc (KELYB) Fair Value & Analysis

Industrials · US · Market cap $624M

A solid business, screening 102% undervalued on our models.

What matters now

• The price is below even our cautious bear case ($35.58). The market is more pessimistic than our downside scenario.
• Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
• A fairly wide model range ($35.58 to $66.90) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $8.40 – $37.61 · fair‑value band $35.58 – $66.90 · the $23.46 price screens below the $47.33 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

Kelly Services, Inc (KELYB) currently trades at $23.46, while our model-based Fair Value estimate is $47.33, implying the stock looks roughly 101.8% undervalued today. The Quality Score stands at 60/100 (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: medium), always confirm before acting.

Over the trailing twelve months, Kelly Services, Inc generated revenue of $4.1B at a net margin of -6.4%. Revenue declined 10.7% year over year. It earns a return on equity of -24.1%. Net debt stands at $126M. Fundamentals as of Jul 24, 2026

Our scenario range runs from $35.58 (bear case) to $66.90 (bull case); at $23.46, the current price sits below 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 38% below its 52-week high and 183% 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 102%, KELYB screens cheaper 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.

Widest divergence: Multiples ($53.17) versus Dividend Discount ($3.68). Highest evidence: Growth DCF (80).

Key figures & financial health

Quality Score breakdown

About the company

Kelly Services, Inc., together with its subsidiaries, provides workforce solutions to various industries in the Americas, Europe, Mexico, and the Asia-Pacific region. It operates in three segments: Enterprise Talent Management, Science, Engineering & Technology, and Education.

Full company description

Kelly Services, Inc., together with its subsidiaries, provides workforce solutions to various industries in the Americas, Europe, Mexico, and the Asia-Pacific region. It operates in three segments: Enterprise Talent Management, Science, Engineering & Technology, and Education. The Enterprise Talent Management segment delivers temporary staffing, outcome-based, and permanent placement services providing administrative, accounting, and finance; light industrial; contact center staffing; and other workforce solutions. This segment also delivers talent solutions, including managed service provider, payroll process outsourcing, recruitment process outsourcing solutions, and executive coaching programs to customers on a global basis that includes its RocketPower and Sevenstep brands. The Science, Engineering & Technology segment offers temporary staffing, outcome-based, and permanent placement services in the areas of science and clinical research, engineering, technology, and telecommunications specialties. The Education segment provides staffing, permanent placement, and executive search services to pre-K-12 school districts and education organizations. Kelly Services, Inc. was founded in 1946 and is headquartered in Troy, Michigan.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Kelly Services, Inc reported revenue of $4.3B in FY2025 versus $4.9B in FY2021, a compound −3.5%/yr. Reported net income was −$254M in FY2025.

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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.

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

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.

Values & ESG

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

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

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Frequently asked questions

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.