ASGN Inc (ASGN) FY2025 10-K Annual Report
ASGN Inc (ASGN) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
ASGN Inc FY2025 10-K Analysis
Business Overview
- • Core business model: IT and digital engineering solutions provider to commercial and government sectors via consulting and staffing
- • New brand launch planned: Rebranding from ASGN to Everforth in 1H 2026 to unify six brands under one identity and broaden digital engineering focus
- • Strategic shift: Increasing emphasis on high-value, high-margin IT consulting services; 62% of 2025 revenue from consulting vs staffing heritage
- • Notable metric: 19,600 billable professionals employed in 2025 and $2.9 billion Federal contract backlog as of Dec 31, 2025
- • Unusual fact: Company completed six strategic acquisitions over five years targeting advanced IT consulting and digital engineering capabilities
Management Discussion & Analysis
- • Revenue $3.98B, down 2.9% YoY from $4.10B in 2024; Commercial segment down 2.7%, Federal Government down 3.3%
- • Gross margin steady at 28.9% YoY; Commercial margin 32.8% vs 32.5%, Federal Government margin 19.7% vs 20.4%
- • Best performing segment: Commercial consulting revenues $1.29B, up 14.4%; worst: Assignment revenues $1.5B, down 13.8%
- • SG&A expenses $854M, 21.5% of revenue vs $821.2M (20.0%), including $26.5M acquisition/integration costs; amortization $64.8M vs $58.1M
- • Management notes loss of federal contracts from DOGE initiatives as key impact; no formal guidance disclosed in this section
Risk Factors
- • Regulatory risk from federal government contracting compliance under specific agency standards impacting Federal Government segment revenues
- • U.S.-only revenue exposure increases vulnerability to domestic economic downturn or regulatory changes affecting major Fortune 1000 clients
- • Dependence on goodwill valuation for commercial and federal reporting units with potential impairment if future cash flows or discount rates change significantly
- • Competitive pressure from technology-driven IT consulting firms targeting enterprise transformation and AI services in commercial segment
- • Concentration risk with majority revenue from two segments, making financial results sensitive to segment-specific operational disruptions
ASGN Inc FY2025 Key Financial MetricsXBRL
Revenue
$4.0B
▼ -2.9% YoY
Net Income
$114M
▼ -35.2% YoY
Gross Margin
28.9%
▼ -0bp YoY
Operating Margin
5.8%
▼ -164bp YoY
Net Margin
2.9%
▼ -142bp YoY
ROE
6.3%
▼ -357bp YoY
Total Assets
$3.7B
▲ +7.2% YoY
EPS (Diluted)
$2.60
▼ -32.1% YoY
Operating Cash Flow
$328M
▼ -18.0% YoY
Source: XBRL data from ASGN Inc FY2025 10-K filing on SEC EDGAR. All figures in USD.
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