MAN ManpowerGroup margins

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Relative Growth: Rel. Growth:
Relative Strength: Rel. Strength:
Relative Valuation: Rel. Valuation:
Relative Profitability: Rel. Profitability: 53
Gross margin
16.1%
Operating margin
1.6%
EBITDA margin
2%
Net margin
0.6%

Based on the latest figures, ManpowerGroup reports a gross margin of 16.1%, an operating margin of 1.6%, an EBITDA margin of 2%, and a net margin of 0.6%. Operating margin headed the available margin improvements with a 0.8 percentage-point increase, while gross margin dropped by 0.8 percentage points.

MAN margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, ManpowerGroup recorded average margins of 17.02% gross, 1.18% operating, 1.67% EBITDA, and 0.29% net. Right now, operating, EBITDA, and net margins are above their three-year averages, while gross margin is below its three-year average.

MAN margin expansion

Year-over-year margin changes in percentage points

The strongest improvement was in operating margin, which increased by 0.8 percentage points, and EBITDA margin also expanded by 0.7 percentage points and net margin also expanded by 0.7 percentage points, whereas gross margin contracted by 0.8 percentage points.

Gross margin expansion
-0.8pp
Operating margin expansion
0.8pp
EBITDA margin expansion
0.7pp
Net margin expansion
0.7pp

MAN Gross margin

Across the last 3 years, ManpowerGroup's gross margin averaged 17.02%. The current gross margin stands at 16.1%, 0.9 percentage points below its three-year average. Gross margin was highest at 17.8% in Dec 2023 and lowest at 16.1% in Sep 2026.

MAN Operating margin

Over the last 3 years, ManpowerGroup's operating margin averaged 1.18%. The current operating margin of 1.6% is 0.4 percentage points above its three-year average. During this period, operating margin reached a high of 1.7% in Dec 2024 and a low of 0.8% in Jun 2025.

MAN EBITDA margin

ManpowerGroup's EBITDA margin averaged 1.67% over the last 3 years. Compared with its three-year average, ManpowerGroup's current EBITDA margin is 2% and is 0.3 percentage points above its three-year average. Over the last 3 years, ManpowerGroup's EBITDA margin peaked at 2.2% in Dec 2024 and reached a low of 1.3% in Jun 2025.

MAN Net margin

Over the last 3 years, ManpowerGroup's net margin averaged 0.29%. Right now, ManpowerGroup's current net margin is 0.6%, which is 0.3 percentage points above its three-year average. During this period, net margin reached a high of 0.8% in Dec 2024 and a low of -0.1% in Jun 2025.

MAN margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 16.1%, MAN ranks lower than the Industrials sector, the industry and its peers average. In comparison with the Industrials sector average of 32.5%, ManpowerGroup's gross margin is 50% lower.

MAN margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is ManpowerGroup's gross margin?

For the period ending Sep 30, 2026, MAN recorded a gross margin of 16.1%.

What is ManpowerGroup's operating margin?

As of Sep 30, 2026, MAN has an operating margin of 1.6%.

What is ManpowerGroup's EBITDA margin?

The current EBITDA margin for MAN is 2% as of Sep 30, 2026.

What is ManpowerGroup's net margin?

The current net margin for MAN is 0.6% as of Sep 30, 2026.

What are the average margins of MAN?

ManpowerGroup's gross, operating, EBITDA, and net margins averaged 17.0% gross, 1.2% operating, 1.7% EBITDA, and 0.3% net over the last 3 years.

What are the highest historical margins of MAN?

Over this 5-year history, MAN peaked at 18.2% gross in Mar 2023, 3.2% operating in Sep 2022, 3.6% EBITDA in Sep 2022, and 2.1% net in Sep 2022.

What are the lowest historical margins of MAN?

Over this 5-year history, ManpowerGroup's margins fell as low as 16.1% gross in Sep 2026, 0.8% operating in Jun 2025, 1.3% EBITDA in Jun 2025, and -0.1% net in Jun 2025.