Kforce Inc
KFRC
Services-Help Supply Services
Mkt Cap
$1.152BPE
20.63Debt
-Cash
$106KEV
-FCF
$77.81MP/E Ratio
20.63Debt
-Cash
$106KEV
-FCF
$77.81MCharts data: {"Earnings":[{"time":"2014-12-30","value":90915000},{"time":"2015-12-30","value":42824000},{"time":"2016-12-30","value":32773000},{"time":"2017-12-30","value":33285000},{"time":"2018-12-30","value":57980000},{"time":"2019-12-30","value":130862000},{"time":"2020-12-30","value":56039000},{"time":"2021-12-30","value":75177000},{"time":"2022-12-30","value":75431000},{"time":"2023-12-30","value":61075000}],"Sales":[{"time":"2014-12-30","value":1217331000},{"time":"2015-12-30","value":1319238000},{"time":"2016-12-30","value":1319706000},{"time":"2017-12-30","value":1357940000},{"time":"2018-12-30","value":1418353000},{"time":"2019-12-30","value":1347387000},{"time":"2020-12-30","value":1397700000},{"time":"2021-12-30","value":1579922000},{"time":"2022-12-30","value":1710765000},{"time":"2023-12-30","value":1531756000}],"Net Margins":[{"time":"2014-12-30","value":0.07468387809067542},{"time":"2015-12-30","value":0.03246116318662743},{"time":"2016-12-30","value":0.024833561414436246},{"time":"2017-12-30","value":0.02451139225591705},{"time":"2018-12-30","value":0.04087839910092904},{"time":"2019-12-30","value":0.09712280139262142},{"time":"2020-12-30","value":0.04009372540602418},{"time":"2021-12-30","value":0.047582728767622706},{"time":"2022-12-30","value":0.04409197055118617},{"time":"2023-12-30","value":0.03987253844607105}],"Assets":[{"time":"2014-12-30","value":363922000},{"time":"2015-12-30","value":351822000},{"time":"2016-12-30","value":365421000},{"time":"2017-12-30","value":384304000},{"time":"2018-12-30","value":379908000},{"time":"2019-12-30","value":381125000},{"time":"2020-12-30","value":479049000},{"time":"2021-12-30","value":503401000},{"time":"2022-12-30","value":392004000},{"time":"2023-12-30","value":357979000}],"Stockholders Equity":[{"time":"2014-12-30","value":139388000},{"time":"2015-12-30","value":139627000},{"time":"2016-12-30","value":121736000},{"time":"2017-12-30","value":134277000},{"time":"2018-12-30","value":168331000},{"time":"2019-12-30","value":167263000},{"time":"2020-12-30","value":179935000},{"time":"2021-12-30","value":188406000},{"time":"2022-12-30","value":182198000},{"time":"2023-12-30","value":159080000}],"ROE":[{"time":"2014-12-30","value":0.6522440956179872},{"time":"2015-12-30","value":0.3067028583296927},{"time":"2016-12-30","value":0.26921370835250047},{"time":"2017-12-30","value":0.24788310730802743},{"time":"2018-12-30","value":0.3444404179859919},{"time":"2019-12-30","value":0.7823726705846481},{"time":"2020-12-30","value":0.31144024230972295},{"time":"2021-12-30","value":0.3990159549058947},{"time":"2022-12-30","value":0.4140056422134162},{"time":"2023-12-30","value":0.38392632637666585}],"ROA":[{"time":"2014-12-30","value":0.1356554426497986},{"time":"2015-12-30","value":0.20995560254901627},{"time":"2016-12-30","value":0.1603684517310171},{"time":"2017-12-30","value":0.17857997835047254},{"time":"2018-12-30","value":0.2149230866420291},{"time":"2019-12-30","value":0.19631616923581502},{"time":"2020-12-30","value":0.16753192262169422},{"time":"2021-12-30","value":0.21184503010522426},{"time":"2022-12-30","value":0.2981219579392047},{"time":"2023-12-30","value":0.24336902443998112}]}
Kforce Inc. provides professional staffing services and solutions in the United States. It operates through two segments, Technology, and Finance and Accounting (FA). The Technology segment provides talent solutions to its clients primarily in the areas of information technology, such as systems/applications architecture and development, data management and analytics, business and artificial intelligence, machine learning, project and program management, and network architecture and security. This segment serves clients in various industries comprising financial and business services, communications, insurance, retail, and technology industries. The FA businesses segment offers talent solutions to its clients in areas, including financial planning and analysis, business intelligence analysis, accounting, transactional accounting, business and cost analysis, and taxation and treasury. It also provides consultants in lower skilled areas comprising loan servicing and support, customer and call center support, data entry, and other administrative roles. This segment serves clients in various industries, including financial and business services, healthcare, and manufacturing sectors. The company was founded in 1962 and is headquartered in Tampa, Florida.
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DCF
Discounted Cash Flow Valuation of Kforce Inc
Value
Growth
%
%
Discount
%
%
Multiple
| g\r | +10% | +11% | +12% | +13% | +14% |
|---|---|---|---|---|---|
| 0% | 10 | 9 | 8 | 8 | 7 |
| +1% | 11 | 10 | 9 | 8 | 8 |
| +2% | 13 | 11 | 10 | 9 | 8 |
| +3% | 14 | 13 | 11 | 10 | 9 |
| +4% | 17 | 14 | 12 | 11 | 10 |
| Years | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | TV |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FCF | $77.81M | $90.6M | $104.3M | $118.8M | $133.8M | $149M | $164.1M | $178.5M | $192M | $204M | $214.2M | $2.142B |
| DCF | $78.78M | $78.9M | $78.14M | $76.53M | $74.1M | $70.93M | $67.12M | $62.76M | $58M | $52.96M | $529.6M | |
| Value | $1.228B | |||||||||||
In the chart Earnings are multiplied by this value.
Earnings Growth 7.7%
Earnings Stability 22%
Competitiveness and MOAT
High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 3.2% | 2.5% | 2.5% | 4.1% | 9.7% | 4% | 4.8% | 4.4% | 4% | 3.8% |
| ROA | 21% | 16% | 18% | 21% | 20% | 17% | 21% | 30% | 24% | 22% |
| ROE | 31% | 27% | 25% | 34% | 78% | 31% | 40% | 41% | 38% | 34% |
What is the average Net Margin?
The average Net Margin over the past 5 years is +5.16%.
What is the trend of Net Margin?
The trend of Net Margin over the past 5 years is -0.45%.
What is the average Return on Assets (ROA)?
The average ROA over the past 5 years is +22.2%.
What is the trend of Return on Assets (ROA)?
The trend of ROA over the past 5 years is +1.41%.
What is the average Return on Equity (ROE)?
The average ROE over the past 5 years is +43.92%.
What is the trend of Return on Equity (ROE)?
The trend of ROE over the past 5 years is -2.34%.
Safety & Stabiliy
Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.
| Years | 12-2015 | 12-2016 | 12-2017 | 12-2018 | 12-2019 | 12-2020 | 12-2021 | 12-2022 | 12-2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt FCF | 0.05 | 0.15 | 0.11 | 0.02 | - | 0.00 | - | - | - | - |
| Debt Equity | 0.02 | 0.03 | 0.02 | 0.01 | - | 0.00 | - | - | - | - |
| MIN | ||||||||||
| Graham Stability | - | - | 60% | 100% | 100% | 76% | 92% | 86% | 89% | 60% |
What is the Debt/FCF?
The Debt/FCF trailing twelve month is -.
What is the trend of Debt/FCF?
The trend of Debt/FCF over the past 5 years is -0.01.
What is the Graham’s Stability?
Graham’s Stability measure stands at 0.60.
Growth
Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.
| Years | 12-2016 | 12-2018 | 12-2020 | 12-2022 | Trend |
|---|---|---|---|---|---|
| Revenue | 2.2% | 1.6% | 3.1% | -10% | -0.52% |
| Net Income | 9.3% | 1% | 2.9% | -19% | 2.3% |
| Stockholders Equity | 3.9% | -1.1% | -4% | -13% | -0.86% |
| FCF | 18% | 0.28% | -6.6% | 1.2% | -1.9% |
What is the 5 year Revenue CAGR?
The Revenue CAGR over the past 5 years is +1.55%.
What is the trend of Revenue growth?
The trend of Revenue growth rate over the past 5 years is -0.52%.
What is the 5 year Earnings CAGR?
The Earnings CAGR over the past 5 years is +1.05%.
What is the trend of Earnings growth?
The trend of Earnings growth rate over the past 5 years is +2.34%.
What is the 5 year Equity CAGR?
The Equity CAGR over the past 5 years is -1.12%.
What is the trend of Equity growth?
The trend of Equity growth rate over the past 5 years is -0.86%.
What is the 5 year FCF CAGR?
The FCF CAGR over the past 5 years is +0.28%.
What is the trend of FCF growth?
The trend of FCF growth rate over the past 5 years is -1.85%.