Kelly Services A Inc (KELYA)

Return on equity (ROE)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net income (ttm)	US$ in thousands	36,400	24,100	1,300	-4,000	-62,500	10,100	61,100	82,900	156,100	107,800	89,700	106,800	-72,000	-78,400	-105,600	-62,900	112,400	71,500	115,100	15,900
Total stockholders’ equity	US$ in thousands	1,253,700	1,235,700	1,241,900	1,247,800	1,254,200	1,252,700	1,276,900	1,273,500	1,336,200	1,274,100	1,243,800	1,215,700	1,203,000	1,166,100	1,145,600	1,100,100	1,264,500	1,247,800	1,268,200	1,177,800
ROE		2.90%	1.95%	0.10%	-0.32%	-4.98%	0.81%	4.79%	6.51%	11.68%	8.46%	7.21%	8.79%	-5.99%	-6.72%	-9.22%	-5.72%	8.89%	5.73%	9.08%	1.35%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $36,400K ÷ $1,253,700K
= 2.90%

To analyze Kelly Services, Inc.'s return on equity (ROE) based on the provided data, we observe fluctuations in the ROE over the past eight quarters. The ROE ranged from -4.98% in Q4 2022 to 2.85% in Q4 2023.

The negative ROE in Q4 2022 indicates that the company had a net loss relative to its equity. Subsequently, there was a significant improvement in Q1 and Q2 2023 with ROE turning positive. However, the ROE dropped to 0.07% in Q2 2023, signifying a decline in profitability efficiency.

Overall, the ROE has been volatile, with fluctuations in both positive and negative territory. This inconsistency may indicate varying levels of efficiency in generating profits from shareholders' equity. Further analysis of the company's financial health and operational performance is recommended to better understand the factors impacting Kelly Services, Inc.'s ROE movement.