KELYAKELLY SERVICES INC
Services-Help Supply Services
- Revenue
- $4.3B
- 1.9% YoY
- Operating margin
- -1.6%
- 371% YoY
- EBITDA
- −$27M
- 209% YoY
- Market cap
- $582M
- Employees
- —
- Net debt / EBITDA
- —
- $54M net debt
- AI in 10-K
- 5.5
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo9% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo9% of assetsOver 40% of assets
- Shareholder dissentNo100% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AINo5.5 per 10K words · 84th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$582M market capMarket cap $500M–$5B
Catalysts 2 of 2
- Active 13DYes2 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$106M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $4.5B | $4.9B | $4.8B | $4.3B | $4.3B | 1.9% |
| Operating income | −$94M | $49M | $24M | −$15M | −$70M | 362% |
| Net income | $156M | −$63M | $36M | −$600K | −$600K | 0.0% |
| Operating cash flow | $186M | $85M | $77M | $27M | $123M | 356% |
| Capex | $16M | $11M | $15M | $11M | $9M | 23% |
| Stock-based comp | $4M | $5M | $10M | $12M | $12M | 4.2% |
| Dividends | $3M | $4M | $11M | $11M | $11M | 0.9% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| May 19, 2026 | Hunt Equity Opportunities, LLC | SCHEDULE 13D/A | 28.1% | Active |
| Jan 30, 2026 | Hunt Equity Opportunities, LLC | SCHEDULE 13D | 92.2% | Active |
| Jan 30, 2026 | TERENCE E. ADDERLEY REVOCABLE TRUST K | SCHEDULE 13D/A | 1.3% | Passive |
| Jan 12, 2026 | TERENCE E. ADDERLEY REVOCABLE TRUST K | SCHEDULE 13D/A | 92.2% | Passive |
| Dec 16, 2025 | TERENCE E. ADDERLEY REVOCABLE TRUST K | SCHEDULE 13D/A | 92.2% | Passive |
| Apr 1, 2025 | TERENCE E. ADDERLEY REVOCABLE TRUST K | SCHEDULE 13D/A | 92.2% | Passive |
Insider trading
- Open-market buys, 12 mo
- $327K · 7
- Open-market sells, 12 mo
- $106M · 3
- Net
- −$106M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | — | 122 |
| FY2024 | — | — | — | 144 |
| FY2023 | — | — | — | 121 |
| FY2022 | — | — | — | 114 |
| FY2021 | — | — | — | 152 |