ASGN Inc (ASGN) 株式分析

企業概要

ASGN Incorporated operates within the Technology sector, specifically providing information technology solutions to commercial and government sectors across the United States, Canada, and Europe. The company structures its operations through two distinct segments, namely Commercial and Federal Government, offering services such as consulting, creative digital marketing, and permanent placement. With a market capitalization of $1.59B, an annual revenue of $3.98B, and an employee base of 2800, the entity represents a mid-cap presence in the Information Technology Services industry. These valuation and revenue figures indicate that the company maintains a significant operational footprint, generating substantial top-line growth while employing a large workforce to deliver specialized IT services globally.

財務健全性

The company reports a revenue of $3.98B (TTM) and an EBITDA of $363.90M, yet the net income stands at $113.50M (TTM), revealing a cost structure where non-interest expenses or tax provisions consume approximately 71% of EBITDA. Free cash flow for the period is $251.94M, which suggests the company generates sufficient cash from operations to cover capital expenditures and potentially fund internal initiatives without relying solely on external financing. The gross margin is 28.9%, indicating the proportion of revenue retained after direct costs, while the operating margin of 6.8% and profit margin of 2.9% highlight the substantial overhead costs relative to total sales. On the balance sheet, cash holdings of $161.20M are outweighed by total debt of $1.24B, resulting in a debt-to-equity ratio of 68.78, which characterizes a leveraged financial position rather than a conservative one. The current ratio is 2.16, demonstrating that the company holds more than twice the current assets needed to cover its short-term liabilities, thus indicating robust short-term liquidity. Return on Equity stands at 6.3% and Return on Assets is 4.6%, metrics that reveal the management's effectiveness in generating returns on the capital invested by shareholders and the total asset base respectively.

バリュエーション評価

The trailing twelve-month P/E ratio is 14.34, whereas the forward P/E is 6.46, a significant disparity implying that the market expects a substantial improvement in earnings or that current earnings are depressed relative to future projections. The price-to-book ratio is 0.86, indicating that the stock trades below its book value per share, which often suggests the market values the company's assets at a discount or perceives challenges in earning power. Alternative valuation metrics such as the price-to-sales ratio of 0.40 and an EV/EBITDA of 7.20 provide a normalized view of value relative to sales and operating cash generation, suggesting a potentially undervalued stance if peer averages are higher. The 52-week high is $62.42 and the 52-week low is $34.59, providing a historical range within which the current trading price fluctuates based on market sentiment. The beta value is 0.89, meaning the stock's price volatility is slightly lower than the broader market, suggesting it may act as a defensive position within a technology portfolio.

Growth & Income

Revenue growth year-over-year is -0.5%, while earnings growth year-over-year is -38.1%, indicating that earnings are contracting at a much faster rate than revenue, which points to significant pressure on profitability margins or one-time charges impacting the bottom line. ASGN Incorporated does not currently pay dividends, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, meaning the company retains all net income to reinvest into the business or reduce debt rather than distributing cash to shareholders. This non-dividend status aligns with the company's strategy of focusing on operational growth and balance sheet strengthening through internal capital allocation. Overall, the growth and income profile reflects a cyclical IT services business currently experiencing earnings contraction without reliance on dividend income for shareholder returns.