ManpowerGroup annual debt-to-equity ratio
2009
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2024
2025
ManpowerGroup Debt-to-Equity Ratio Growth & History (MAN)
ManpowerGroup's debt-to-equity ratio was 1.01 for fiscal 2025.
View full ManpowerGroup company overviewManpowerGroup annual debt-to-equity ratio history
| Fiscal year | Period ended | Debt-to-equity ratio | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | 1.01 | 0.39 | +62.01% |
| 2024 | 2024-12-31 | 0.63 | −0.02 | −2.40% |
| 2023 | 2023-12-31 | 0.64 | 0.09 | +15.54% |
| 2022 | 2022-12-31 | 0.56 | −0.04 | −6.93% |
| 2021 | 2021-12-31 | 0.60 | −0.04 | −5.96% |
| 2020 | 2020-12-31 | 0.63 | 0.08 | +13.55% |
| 2019 | 2019-12-31 | 0.56 | 0.15 | +36.34% |
| 2018 | 2018-12-31 | 0.41 | 0.07 | +19.98% |
| 2017 | 2017-12-31 | 0.34 | −0.01 | −2.29% |
| 2016 | 2016-12-31 | 0.35 | 0.02 | +7.27% |
| 2015 | 2015-12-31 | 0.33 | 0.17 | +104.96% |
| 2014 | 2014-12-31 | 0.16 | −0.02 | −10.56% |
| 2013 | 2013-12-31 | 0.18 | −0.13 | −42.29% |
| 2012 | 2012-12-31 | 0.31 | 0.03 | +9.22% |
| 2011 | 2011-12-31 | 0.28 | −0.01 | −3.17% |
| 2010 | 2010-12-31 | 0.29 | −0.01 | −2.47% |
| 2009 | 2009-12-31 | 0.30 | — | — |
ManpowerGroup quarterly debt-to-equity ratio
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Q4.10
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Q2.12
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Q2.17
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Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | Debt-to-equity ratio | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | 0.45 | −0.01 | −1.49% |
| Q1 2026 | 2026-03-31 | 0.69 | 0.04 | +6.12% |
| Q4 2025 | 2025-12-31 | 1.01 | 0.39 | +62.01% |
| Q3 2025 | 2025-09-30 | 0.44 | −0.20 | −31.29% |
| Q2 2025 | 2025-06-30 | 0.45 | −0.18 | −28.24% |
| Q1 2025 | 2025-03-31 | 0.65 | — | — |
| Q4 2024 | 2024-12-31 | 0.63 | −0.02 | −2.40% |
| Q3 2024 | 2024-09-30 | 0.64 | 0.08 | +13.99% |
| Q2 2024 | 2024-06-30 | 0.63 | 0.06 | +11.14% |
| Q4 2023 | 2023-12-31 | 0.64 | 0.09 | +15.54% |
| Q3 2023 | 2023-09-30 | 0.56 | 0.07 | +13.57% |
| Q2 2023 | 2023-06-30 | 0.57 | 0.05 | +9.68% |
| Q4 2022 | 2022-12-31 | 0.56 | −0.04 | −6.93% |
| Q3 2022 | 2022-09-30 | 0.50 | 0.11 | +28.22% |
| Q2 2022 | 2022-06-30 | 0.52 | −0.09 | −14.58% |
| Q1 2022 | 2022-03-31 | 0.36 | −0.26 | −41.68% |
| Q4 2021 | 2021-12-31 | 0.60 | −0.04 | −5.96% |
| Q3 2021 | 2021-09-30 | 0.39 | −0.19 | −32.74% |
| Q2 2021 | 2021-06-30 | 0.61 | 0.04 | +7.06% |
| Q1 2021 | 2021-03-31 | 0.62 | 0.07 | +13.09% |
| Q4 2020 | 2020-12-31 | 0.63 | 0.08 | +13.55% |
| Q3 2020 | 2020-09-30 | 0.58 | 0.06 | +11.05% |
| Q2 2020 | 2020-06-30 | 0.57 | 0.00 | +0.68% |
| Q1 2020 | 2020-03-31 | 0.54 | −0.02 | −2.71% |
| Q4 2019 | 2019-12-31 | 0.56 | 0.15 | +36.34% |
| Q3 2019 | 2019-09-30 | 0.52 | 0.14 | +36.39% |
| Q2 2019 | 2019-06-30 | 0.56 | 0.19 | +49.35% |
| Q1 2019 | 2019-03-31 | 0.56 | 0.39 | +225.19% |
| Q4 2018 | 2018-12-31 | 0.41 | 0.07 | +19.98% |
| Q3 2018 | 2018-09-30 | 0.38 | 0.20 | +112.96% |
| Q2 2018 | 2018-06-30 | 0.38 | 0.20 | +108.86% |
| Q1 2018 | 2018-03-31 | 0.17 | −0.15 | −47.16% |
| Q4 2017 | 2017-12-31 | 0.34 | −0.01 | −2.29% |
| Q3 2017 | 2017-09-30 | 0.18 | −0.17 | −49.08% |
| Q2 2017 | 2017-06-30 | 0.18 | −0.16 | −46.68% |
| Q1 2017 | 2017-03-31 | 0.33 | −0.00 | −0.24% |
| Q4 2016 | 2016-12-31 | 0.35 | 0.02 | +7.27% |
| Q3 2016 | 2016-09-30 | 0.35 | 0.03 | +9.40% |
| Q2 2016 | 2016-06-30 | 0.34 | 0.20 | +148.41% |
| Q1 2016 | 2016-03-31 | 0.33 | 0.19 | +148.17% |
| Q4 2015 | 2015-12-31 | 0.33 | 0.17 | +104.96% |
| Q3 2015 | 2015-09-30 | 0.32 | 0.17 | +119.80% |
| Q2 2015 | 2015-06-30 | 0.14 | −0.02 | −12.47% |
| Q1 2015 | 2015-03-31 | 0.13 | −0.03 | −19.21% |
| Q4 2014 | 2014-12-31 | 0.16 | −0.02 | −10.56% |
| Q3 2014 | 2014-09-30 | 0.15 | −0.02 | −14.36% |
| Q2 2014 | 2014-06-30 | 0.16 | −0.02 | −13.17% |
| Q1 2014 | 2014-03-31 | 0.16 | −0.02 | −9.32% |
| Q4 2013 | 2013-12-31 | 0.18 | −0.13 | −42.29% |
| Q3 2013 | 2013-09-30 | 0.17 | −0.01 | −3.00% |
| Q2 2013 | 2013-06-30 | 0.18 | −0.12 | −40.19% |
| Q1 2013 | 2013-03-31 | 0.18 | −0.10 | −36.13% |
| Q4 2012 | 2012-12-31 | 0.31 | 0.03 | +9.22% |
| Q3 2012 | 2012-09-30 | 0.18 | −0.10 | −36.89% |
| Q2 2012 | 2012-06-30 | 0.30 | 0.00 | +1.29% |
| Q1 2012 | 2012-03-31 | 0.28 | −0.02 | −5.96% |
| Q4 2011 | 2011-12-31 | 0.28 | −0.01 | −3.17% |
| Q3 2011 | 2011-09-30 | 0.28 | 0.02 | +9.02% |
| Q2 2011 | 2011-06-30 | 0.30 | 0.05 | +20.43% |
| Q1 2011 | 2011-03-31 | 0.30 | — | — |
| Q4 2010 | 2010-12-31 | 0.29 | −0.01 | −2.47% |
| Q3 2010 | 2010-09-30 | 0.26 | — | — |
| Q2 2010 | 2010-06-30 | 0.25 | — | — |
| Q4 2009 | 2009-12-31 | 0.30 | — | — |
ManpowerGroup debt-to-equity ratio trends
Over the last five fiscal years, ManpowerGroup's debt-to-equity ratio increased from 0.63 to 1.01, a change of 0.38. The latest reported quarter, Q2 2026, shows 0.45.
About the metric
What the debt-to-equity ratio means
The debt-to-equity ratio compares interest-bearing debt with shareholders’ equity. It helps show how much debt financing a company uses relative to its accounting equity, but useful comparison levels vary by industry.
Calculation and source
How debt-to-equity is calculated
TickerStat calculates debt-to-equity as total interest-bearing debt divided by SEC-reported shareholders’ equity for the same balance-sheet date. Total liabilities are not treated as debt, and periods with non-positive equity are omitted. Fiscal periods can differ from calendar years, so exact period-end dates are included.
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