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Randstad NV
DUS:RSH

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Randstad NV
DUS:RSH
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Price: 24.97 EUR 2.5% Market Closed
Market Cap: €4.4B

EV/EBIT

10.5
Current
17%
Cheaper
vs 3-y average of 12.7

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
10.5
=
Enterprise Value
€5.9B
/
EBIT
€539m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
10.5
=
Enterprise Value
€5.9B
/
EBIT
€539m

Valuation Scenarios

Randstad NV is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (12.7), the stock would be worth €30.16 (21% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+52%
Average Upside
33%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 10.5 €24.97
0%
3-Year Average 12.7 €30.16
+21%
5-Year Average 11.7 €27.77
+11%
Industry Average 16 €38.07
+52%
Country Average 15.6 €37.08
+49%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
€5.9B
/
Jan 2026
€539m
=
10.5
Current
€5.9B
/
Dec 2026
€727.3m
=
8.1
Forward
€5.9B
/
Dec 2027
€809.6m
=
7.3
Forward
€5.9B
/
Dec 2028
€864.1m
=
6.8
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
NL
Randstad NV
DUS:RSH
4.5B EUR 10.5 15.3
JP
Recruit Holdings Co Ltd
TSE:6098
10.6T JPY 18.4 25.6
US
Robert Half Inc
SWB:RHJ
4.2B EUR 58.6 37.2
CN
51job Inc
F:IWQ
3.9B EUR 39.9 49
CH
Adecco Group AG
SIX:ADEN
3.1B CHF 9.3 11.3
PL
Benefit Systems SA
WSE:BFT
12.9B PLN 19.6 22.4
US
Korn Ferry
NYSE:KFY
3.5B USD 7.3 12.8
JP
Persol Holdings Co Ltd
TSE:2181
539B JPY 7.8 13.7
JP
TechnoPro Holdings Inc
TSE:6028
502.9B JPY 19.2 30.7
SG
Jinhai International Group Holdings Ltd
HKEX:2225
24B HKD -230.1 -230.3
US
Robert Half International Inc
NYSE:RHI
3B USD 29.2 20.3
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
NL
R
Randstad NV
DUS:RSH
Average EV/EBIT: 22
10.5
17%
0.6
JP
Recruit Holdings Co Ltd
TSE:6098
18.4
N/A N/A
US
R
Robert Half Inc
SWB:RHJ
58.6
73%
0.8
CN
5
51job Inc
F:IWQ
39.9
N/A N/A
CH
A
Adecco Group AG
SIX:ADEN
9.3
16%
0.6
PL
B
Benefit Systems SA
WSE:BFT
19.6
9%
2.2
US
Korn Ferry
NYSE:KFY
7.3
10%
0.7
JP
P
Persol Holdings Co Ltd
TSE:2181
7.8
N/A N/A
JP
TechnoPro Holdings Inc
TSE:6028
19.2
N/A N/A
SG
Jinhai International Group Holdings Ltd
HKEX:2225
Negative Multiple: -230.1 N/A N/A
US
Robert Half International Inc
NYSE:RHI
29.2
73%
0.4

Market Distribution

Lower than 77% of companies in Netherlands
Percentile
23nd
Based on 400 companies
23nd percentile
10.6
Low
0 — 12.2
Typical Range
12.2 — 20.9
High
20.9 —
Distribution Statistics
Netherlands
Min 0
30th Percentile 12.2
Median 15.6
70th Percentile 20.9
Max 706

Randstad NV
Glance View

Once upon a time in the bustling city of Amsterdam in 1960, Randstad NV emerged from the vision of Frits Goldschmeding, who saw the potential to transform the temporary staffing industry. Initially scribbling his ideas on a kitchen table, Goldschmeding's concept was simple yet innovative: connecting businesses in need of flexible staffing solutions with a workforce eager for opportunity. Today, Randstad stands as a titan in the global employment services industry, operating in more than 38 countries. The company's core business revolves around matching skilled job seekers with companies requiring temporary staffing, permanent placement, and other human resource solutions. Leveraging advanced technology, Randstad competently anticipates labor market trends and employment needs, ensuring that businesses receive tailored, efficient staffing services. Central to Randstad’s business strategy is its dual approach of creating synergies between human touch and the power of data. The company invests heavily in technology-driven platforms to streamline recruitment processes, providing services like talent analytics, recruitment process outsourcing, and managed services programs. By charging client companies for its staffing solutions, Randstad generates revenue from placement fees and continued services. The proficiency with which Randstad aligns employer needs with career aspirants not only sustains its financial strength but also propels its reputation as a workforce enabler. This multifaceted approach allows Randstad to adapt to changing economic landscapes, fortify its market position, and sustain profitability across economic cycles.

RSH Intrinsic Value
67.25 EUR
Undervaluation 63%
Intrinsic Value
Price €24.97
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