Revenue: As of FY2025, the actual value is USD 5.379 B, beating the estimate of USD 5.367 B.EPS: As of FY2025, the actual value is USD 1.33, missing the estimate of USD 1.3303.EBIT: As of FY2025, the actual value is USD 182.55 M.<h3>Overall Financial Performance</h3>Robert Half Inc.’s service revenues were $5.38 billion for the year ended December 31, 2025, representing a 7.2% decrease from $5.80 billion in 2024 . Net income decreased by 47.1% to $133 million, and diluted net income per share fell by 45.5% to $1.33 in 2025 .<h3>Segment Revenue</h3><ul><li>Contract Talent Solutions: Revenues were $2.99 billion in 2025, an 11.0% decrease from $3.36 billion in 2024 . This was primarily due to a 14.1% decrease in hours worked by engagement professionals, partially offset by a 3.5% increase in average bill rates . Global revenues decreased by 10.8% on an as-adjusted basis, U.S. revenues decreased by 10.6% (10.3% as-adjusted), and international revenues decreased by 12.1% (12.7% as-adjusted) in 2025 compared to 2024 .</li><li>Permanent Placement Talent Solutions: Revenues were $440 million in 2025, a 9.8% decrease from $487 million in 2024 . This decline was driven by a 13.6% decrease in the number of placements, partially offset by a 3.8% increase in average fees earned per placement . Global revenues decreased by 9.6% on an as-adjusted basis, U.S. revenues decreased by 9.9% (9.5% as-adjusted), and international revenues decreased by 9.6% (10.0% as-adjusted) in 2025 compared to 2024 .</li><li>Protiviti: Revenues were $1.95 billion in 2025, a 0.1% decrease from $1.95 billion in 2024 . This was attributed to a 7.3% decrease in average hourly bill rates, partially offset by a 7.2% increase in billable hours . Global revenues decreased by 0.1% on an as-adjusted basis, U.S. revenues decreased by 2.5% (2.2% as-adjusted), and international revenues increased by 10.9% (8.8% as-adjusted) in 2025 compared to 2024 .</li><li>Intersegment Revenues: Intersegment revenues between the contract talent solutions segment and the Protiviti segment were $485.2 million in 2025, up from $471.8 million in 2024 .</li></ul><h3>Operational Metrics</h3><h4>Gross Margin</h4><ul><li>Total Gross Margin: Gross margin dollars were $2.00 billion in 2025, a 10.9% decrease from $2.25 billion in 2024 .</li><li>Contract Talent Solutions: Gross margin dollars were $1.17 billion in 2025, down 11.4% from $1.32 billion in 2024 . As a percentage of revenues, gross margin was 39.0% in 2025, down from 39.2% in 2024 .</li><li>Permanent Placement Talent Solutions: Gross margin dollars were $439 million in 2025, down 9.8% from $486 million in 2024 . As a percentage of revenues, gross margin remained at 99.8% in both years .</li><li>Protiviti: Gross margin dollars were $397 million in 2025, down 10.7% from $444 million in 2024 . As a percentage of revenues, reported gross margin was 20.4% in 2025 (21.6% adjusted), down from 22.8% (23.7% adjusted) in 2024 .</li></ul><h4>Selling, General and Administrative (SG&amp;A) Expenses</h4><ul><li>Total SG&amp;A: Reported SG&amp;A expenses were $1.93 billion in 2025, a 4.0% decrease from $2.01 billion in 2024 . As a percentage of revenues, reported SG&amp;A was 35.8% in 2025, up from 34.6% in 2024 . Adjusted SG&amp;A was $1.84 billion in 2025, a 4.5% decrease from $1.93 billion in 2024, representing 34.3% of revenues in 2025, up from 33.3% in 2024 .</li><li>Contract Talent Solutions: Reported SG&amp;A was $1.19 billion in 2025, decreasing 4.9% from $1.25 billion in 2024 . As a percentage of revenues, reported SG&amp;A was 39.9% in 2025, up from 37.3% in 2024 . Adjusted SG&amp;A was 37.4% of revenues in 2025, up from 35.3% in 2024 .</li><li>Permanent Placement Talent Solutions: Reported SG&amp;A was $426 million in 2025, decreasing 5.2% from $449 million in 2024 . As a percentage of revenues, reported SG&amp;A was 96.9% in 2025, up from 92.1% in 2024 . Adjusted SG&amp;A was 94.9% of revenues in 2025, up from 90.3% in 2024 .</li><li>Protiviti: Reported SG&amp;A was $308 million in 2025, increasing 1.3% from $304 million in 2024 . As a percentage of revenues, SG&amp;A was 15.8% in 2025, up from 15.6% in 2024 .</li></ul><h4>Operating Income (Loss)</h4><ul><li>Total Operating Income: Reported operating income was $76 million in 2025, a 68.3% decrease from $241 million in 2024 . As a percentage of revenues, reported operating income was 1.4% in 2025, down from 4.2% in 2024 . Adjusted operating income was $183 million in 2025, a 45.6% decrease from $336 million in 2024, representing 3.4% of revenues in 2025, down from 5.8% in 2024 .</li><li>Contract Talent Solutions: Reported operating loss was - $25 million in 2025, compared to an income of $64 million in 2024 . As a percentage of revenues, reported operating income was -0.8% in 2025, down from 1.9% in 2024 . Adjusted operating income was $49 million in 2025, down from $131 million in 2024, representing 1.6% of revenues in 2025, down from 3.9% in 2024 .</li><li>Permanent Placement Talent Solutions: Reported operating income was $13 million in 2025, down from $37 million in 2024 . As a percentage of revenues, reported operating income was 2.9% in 2025, down from 7.7% in 2024 . Adjusted operating income was $22 million in 2025, down from $46 million in 2024, representing 4.9% of revenues in 2025, down from 9.5% in 2024 .</li><li>Protiviti: Reported operating income was $89 million in 2025, down from $140 million in 2024 . As a percentage of revenues, reported operating income was 4.5% in 2025, down from 7.2% in 2024 . Adjusted operating income was $112 million in 2025, down from $159 million in 2024, representing 5.8% of revenues in 2025, down from 8.1% in 2024 .</li></ul><h4>Income from Investments Held in Employee Deferred Compensation Trusts</h4>Income from investments held in employee deferred compensation trusts was $106 million in 2025, up from $94 million in 2024 .<h4>Provision for Income Taxes</h4>The provision for income taxes was 31.6% in 2025, up from 29.7% in 2024 .<h3>Cash Flow</h3><h4>Operating Activities</h4>Net cash provided by operating activities was $320 million in 2025, compared to $410 million in 2024 .<h4>Investing Activities</h4>Net cash used in investing activities was $86 million in 2025, compared to $87 million in 2024 . Capital expenditures were $53 million in 2025, compared to $56 million in 2024 . Investments in employee deferred compensation trusts were $80 million in 2025, and payments for acquisitions were $11 million .<h4>Financing Activities</h4>Net cash used in financing activities was $330 million in 2025, compared to $496 million in 2024 . This included $92 million for common stock repurchases and $238 million in dividends paid in 2025 .<h3>Unique Metrics</h3><ul><li>Cash and Cash Equivalents: $464 million at December 31, 2025, down from $538 million at December 31, 2024 .</li><li>Net Accounts Receivable: $748 million at December 31, 2025 .</li><li>Goodwill: Total goodwill was $251 million at December 31, 2025, up from $237 million at December 31, 2024, with $12.4 million recognized from acquisitions in 2025 .</li><li>Employee Headcount: As of December 31, 2025, Robert Half Inc. had approximately 14,500 full-time internal staff, including about 7,100 in Protiviti operations . The company placed approximately 94,300 engagement professionals on assignments during 2025 .</li></ul><h3>Outlook / Guidance</h3>Robert Half Inc. anticipates 2026 capitalized expenditures to range from $70 million to $90 million, with $45 million to $60 million allocated to software initiatives and technology infrastructure, including capitalized cloud computing arrangements . The company announced a quarterly dividend of $0.59 per share, payable on March 13, 2026, to shareholders of record as of February 25, 2026 . Robert Half Inc. continuously monitors economic indicators and business trends to forecast demand for its services and assesses its headcount and other investments at least quarterly .

Robert Half | 10-K: FY2025 Revenue Beats Estimate at USD 5.379 B