ManpowerGroup Inc (MAN)

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	88,800	222,000	303,000	360,000	373,800	436,200	422,600	412,000	382,400	347,500	260,100	84,100	23,800	86,400	222,200	413,900	465,700	485,200	497,100	513,200
Total stockholders’ equity	US$ in thousands	2,223,300	2,402,700	2,439,200	2,498,400	2,447,300	2,406,100	2,435,200	2,545,500	2,521,700	2,473,400	2,387,100	2,366,300	2,441,000	2,588,700	2,526,000	2,620,200	2,743,000	2,698,100	2,632,500	2,575,600
ROE		3.99%	9.24%	12.42%	14.41%	15.27%	18.13%	17.35%	16.19%	15.16%	14.05%	10.90%	3.55%	0.98%	3.34%	8.80%	15.80%	16.98%	17.98%	18.88%	19.93%

December 31, 2023 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $88,800K ÷ $2,223,300K
= 3.99%

ManpowerGroup's return on equity (ROE) has been fluctuating over the past eight quarters.

From Q1 2022 to Q1 2023, there was a general decreasing trend in ROE, with the highest ROE recorded in Q1 2023 at 14.41%. This was preceded by a decline in ROE in the previous three quarters.

The ROE in Q4 2023 showed a slight increase to 3.99% compared to the previous quarter, but it remains significantly lower than the levels observed in the earlier quarters of 2023 and the latter part of 2022.

Overall, the downward trend in ROE in the recent quarters may indicate a decrease in the company's profitability relative to its shareholder equity. Further analysis of the company's financial performance and operational efficiency is recommended to understand the factors contributing to these fluctuations in ROE.