Financials Robert Half Inc. Sao Paulo

Equities

R1HI34

BRR1HIBDR002

Employment Services

Market Closed - Sao Paulo Other stock markets 11:32:55 22/05/2024 pm IST			5-day change	1st Jan Change
351 ^BRL	-1.31%		-1.31%	-5.14%

29/04	CL King Adjusts Robert Half International's Price Target to 95 From $100	MT
29/04	Goldman Sachs Adjusts Price Target on Robert Half International to $60 From $62, Sell Rating Maintained	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	7,202	7,010	12,208	7,881	9,156	6,955	-	-
Enterprise Value (EV) ¹	6,932	6,435	11,589	7,222	8,424	6,349	6,225	6,212
P/E ratio	16.2 x	23.1 x	20.8 x	12.2 x	22.7 x	22.7 x	17.3 x	12.7 x
Yield	1.96%	2.18%	1.36%	2.33%	2.18%	2.65%	2.87%	2.77%
Capitalization / Revenue	1.19 x	1.37 x	1.89 x	1.09 x	1.43 x	1.16 x	1.07 x	1 x
EV / Revenue	1.14 x	1.26 x	1.79 x	1 x	1.32 x	1.06 x	0.96 x	0.89 x
EV / EBITDA	10.1 x	13.3 x	13.5 x	7.7 x	13.9 x	13.3 x	9.99 x	7.74 x
EV / FCF	15.1 x	11.8 x	20.5 x	11.6 x	13.5 x	14.8 x	13.3 x	10.8 x
FCF Yield	6.64%	8.46%	4.89%	8.62%	7.42%	6.75%	7.53%	9.29%
Price to Book	6.36 x	5.86 x	8.94 x	5.07 x	5.87 x	4.51 x	4.1 x	3.41 x
Nbr of stocks (in thousands)	1,14,046	1,12,189	1,09,472	1,06,741	1,04,138	1,03,176	-	-
Reference price ²	63.15	62.48	111.5	73.83	87.92	67.41	67.41	67.41
Announcement Date	30/01/20	28/01/21	27/01/22	26/01/23	30/01/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	6,074	5,109	6,461	7,238	6,393	6,009	6,473	6,944
EBITDA ¹	686	484	860.3	938	606.9	477.5	623	802.4
EBIT ¹	620.4	420.5	805.8	888.9	552.6	414.8	562.1	735.9
Operating Margin	10.21%	8.23%	12.47%	12.28%	8.64%	6.9%	8.68%	10.6%
Earnings before Tax (EBT) ¹	625.5	421.9	803.8	897	576.6	437.6	581.7	763.8
Net income ¹	454.4	306.3	598.6	657.9	411.1	311.7	408.1	528.2
Net margin	7.48%	5.99%	9.26%	9.09%	6.43%	5.19%	6.31%	7.61%
EPS ²	3.900	2.700	5.360	6.030	3.880	2.968	3.893	5.325
Free Cash Flow ¹	460.2	544.8	566.5	622.6	625.2	428.8	468.6	577
FCF margin	7.58%	10.66%	8.77%	8.6%	9.78%	7.14%	7.24%	8.31%
FCF Conversion (EBITDA)	67.08%	112.54%	65.85%	66.38%	103.02%	89.79%	75.22%	71.91%
FCF Conversion (Net income)	101.26%	177.86%	94.64%	94.64%	152.05%	137.55%	114.82%	109.25%
Dividend per Share ²	1.240	1.360	1.520	1.720	1.920	1.788	1.937	1.867
Announcement Date	30/01/20	28/01/21	27/01/22	26/01/23	30/01/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	1,770	1,815	1,863	1,833	1,727	1,716	1,639	1,564	1,473	1,476	1,495	1,526	1,515	1,563	1,605
EBITDA ¹	234.8	238.7	252.4	235.6	211.4	177.5	159.1	142.7	127.6	97.58	113.9	131.5	132.7	143.6	173.3
EBIT ¹	222.6	227.2	240.1	223.3	198.3	164.1	145.9	129.2	113.4	84.27	97.47	115.8	115.2	118	142.8
Operating Margin	12.58%	12.52%	12.89%	12.18%	11.48%	9.56%	8.9%	8.26%	7.7%	5.71%	6.52%	7.59%	7.6%	7.55%	8.9%
Earnings before Tax (EBT) ¹	222.1	227.4	240.8	225.6	203.1	168.9	151.2	136.3	120.1	90.69	104.1	117.4	123.5	126.2	149.3
Net income ¹	167.9	168.2	175.8	166.2	147.7	122	106.3	95.54	87.3	63.7	73.82	85.32	87.25	88.9	105.2
Net margin	9.49%	9.27%	9.44%	9.07%	8.55%	7.11%	6.48%	6.11%	5.93%	4.32%	4.94%	5.59%	5.76%	5.69%	6.55%
EPS ²	1.510	1.520	1.600	1.530	1.370	1.140	1.000	0.9000	0.8300	0.6100	0.7087	0.8059	0.8292	0.7860	0.9296
Dividend per Share ²	0.3800	-	0.4300	0.4300	0.4300	0.4800	0.4800	0.4800	0.4800	-	0.4200	0.4200	0.4200	0.4200	0.4200
Announcement Date	27/01/22	26/04/22	21/07/22	20/10/22	26/01/23	26/04/23	25/07/23	24/10/23	30/01/24	25/04/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	270	574	619	659	732	606	730	743
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	460	545	567	623	625	429	469	577
ROE (net income / shareholders' equity)	41.2%	26.1%	46.3%	44.6%	26%	20.9%	27.6%	27.9%
ROA (Net income/ Total Assets)	21.6%	12.6%	21.7%	22.2%	13.8%	10.2%	13.7%	-
Assets ¹	2,107	2,434	2,755	2,958	2,988	3,043	2,985	-
Book Value Per Share ²	9.930	10.70	12.50	14.60	15.00	14.90	16.50	19.80
Cash Flow per Share ²	4.460	5.260	5.400	6.260	6.000	4.910	5.210	7.030
Capex ¹	59.5	33.4	36.6	61.1	45.9	100	94.3	84
Capex / Sales	0.98%	0.65%	0.57%	0.84%	0.72%	1.67%	1.46%	1.21%
Announcement Date	30/01/20	28/01/21	27/01/22	26/01/23	30/01/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Robert Half Inc.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

67.41 USD

Average target price

69.91 USD

Spread / Average Target

+3.71%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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