Short answer
ManpowerGroup Inc (MAN) filed its fiscal 2018 10-K annual report with the SEC on Feb 22, 2019. It reported revenue of $22.0B (+4.5% year over year) and net income of $557M.
- Top risk flagged: GDPR enforcement: European regulators began audits and fines in 2018, with penalties up to 4% of global revenues
FY2018 key financial metrics · XBRL
- Revenue
- $22.0B
- +4.5% YoY
- Net income
- $557M
- +2.1% YoY
- Operating margin
- 3.6%
- −0.1 pp YoY
- Gross margin
- 16.3%
- −0.3 pp YoY
- EPS (diluted)
- $8.56
- +6.5% YoY
- ROE
- 21.2%
- +1.6 pp YoY
- Operating cash flow
- $483M
- +20.5% YoY
Source: XBRL data from the ManpowerGroup Inc (MAN) FY2018 10-K on SEC EDGAR. USD.
ManpowerGroup Inc FY2018 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core model: Global workforce solutions spanning staffing, recruitment, training, outsourcing, consulting and career management
- Experis delivered 71 million professional-talent hours in 2018 across IT, Engineering and Finance
- Strategic emphasis: Workforce transformation, future-proof skills and higher-value outsourcing beyond traditional staffing
- Geographic scale: Nearly 2,600 offices across countries and territories, with 30,000 full-time equivalent employees
- Notable 2018 changes: French CICE replacement announced, while Germany introduced nine-month equal-pay and 18-month assignment rules
Management Discussion & Analysis
- Revenue $21,991.2M, up 4.5% YoY, or 2.5% constant currency
- Operating margin 3.6% vs 3.8%; gross margin 16.3% vs 16.6%
- Best segment APME: revenue up 9.6%, OUP margin 4.0% vs 3.8%; worst Right Management: revenue down 8.5%, margin 16.4% vs 16.5%
- Operating cash flow $483.1M; capex $64.7M; buybacks $500.7M; acquisitions $51.8M
- Outlook: European slowdown expected through at least Q1 2019; 2019 effective tax rate expected around 34%
Risk Factors
- GDPR enforcement: European regulators began audits and fines in 2018, with penalties up to 4% of global revenues
- European slowdown and Brexit uncertainty: Europe represented approximately 67% of revenue
- Outsourced technology infrastructure: vendor transitions could cause service interruptions or data loss
- AI and robotics adoption: rapid technological change could disrupt ManpowerGroup’s workforce-services model
- Large-client concentration: national and multinational clients comprised approximately 58% of 2018 revenue
Generated from the filing text; verify against the original. How to read a 10-K
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