Kelly Services Inc (KELYA) is overvalued and Kforce Inc (KFRC) is overvalued.
Both trade above our estimate of their intrinsic value. KELYA is the closer of the two: -163%, against -186% for KFRC.
Values as of the 22 Sept 2026 close.
Its through-the-cycle earnings (0.7% median margin), capitalised at 9.0% with no growth, values the shares at $6.34; the price of $16.66 is 163% above that value.
Leak Score 24/100 on 6 of 12 signals
Discounting its cash flows at 9.1% (average of 3 methods) values the shares at $18.16; the price of $51.99 is 186% above that value, and 74% of that value comes from beyond year five.
Leak Score 65/100 on 9 of 12 signals
| Metric | KELYA | KFRC |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $16.66 | $51.99 |
| Intrinsic value | $6.34 | $18.16 |
| Margin of safety | -163% | -186% |
| Leak Score | 24/100 (6/12) | 65/100 (9/12) |
| Market cap | $599M | $931M |
| Revenue growth, 5 years | -1.2% | -1.0% |
| Operating margin | 0.8% | 4.0% |
| Net margin | -6.7% | 2.7% |
| Return on equity | -24.4% | 28.3% |
| Debt to equity | 0.13 | 0.99 |
| P/E | — | 24.8x |
| Forward P/E | 9.2x | 16.8x |
| P/B | 0.6x | 7.5x |
| Dividend yield | 1.8% | 3.1% |