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Employees: 6,820
Size Michael Page (PAGE.L) is a United Kingdom Industrials company (Personnel Services) with a market value of $896M, the 225th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £211.00 on 6 Nov 2026.
Performance Over six months the shares gained 59.7%, against +22.5% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue fell 2.5% over the last twelve months (peer median +0.8%); the operating margin is 1.8% (peer median 5.7%).
Valuation It trades at 43.4× forward earnings against a peer median of 13.6× (2nd most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +4%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.5 points below its cost of capital (12.6% WACC).
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £1.60B | £1.60B | £1.74B | £2.01B | £1.99B |
| Revenue growth | — | -8% | -13% | +1% | — |
| Gross profit | £765M | £770M | £843M | £1.01B | £1.08B |
| EBITDA | £84.4M | £95.7M | £125M | £191M | £264M |
| Net income | £12.7M | £9.02M | £28.4M | £77.1M | £139M |
| Free cash flow | £51.5M | £40.1M | £112M | £127M | £163M |
| Capital expenditure | £8.20M | £12.5M | £18.3M | £31.4M | £31.7M |
| Total debt | n/a | £132M | £137M | £111M | £110M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PAGE.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.3% | -2.3% | 6th highest of 21 |
| 6-month return | +59.7% | +22.5% | 4th highest of 21 |
| Distance from 52-week high | -15.4% | -15.4% | 11th highest of 21 |
| Revenue growth (TTM) | -2.5% | +0.8% | 9th lowest of 21 |
| Operating margin | 1.8% | 5.7% | 4th lowest of 21 |
| Forward P/E | 43.4× | 13.6× | 2nd most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 23.5% | 1.9% | most demanding of 20 |
| Growth delivered (Del g) | +4.1% | +7.7% | 6th lowest of 20 |
| Hurdle (Req g minus delivered) | +19.4 pp | -5.2 pp | most demanding of 20 |
| ROIC minus cost of capital | -6.5 pp | +9.5 pp | lowest of 20 |
| EV / EBITDA | 9.5× | 8.7× | 4th most expensive of 11 |
| Net debt / EBITDA | 1.6× | -0.9× | 3rd most indebted of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Michael Page PAGE.L | United Kingdom | $896M | +60% | -3% | 2% | 43.4× | 23.5% | +4.1% |
| Grupa Pracuj spolka akcyjna GPP.WA | Poland | $919M | +23% | +5% | 37% | 13.1× | -1.9% | +22.1% |
| UT Group Co.,Ltd. 2146.T | Japan | $868M | +22% | -13% | 7% | 16.1× | 6.7% | +7.7% |
| Kforce KFRC | United States | $970M | +25% | +2% | 5% | 18.0× | 9.8% | -1.0% |
| Synergie SDG.PA | France | $753M | -3% | +5% | 3% | 11.8× | -13.4% | +8.2% |
| Barrett Business Services BBSI | United States | $725M | 0% | +6% | 4% | 18.2× | 1.9% | +7.1% |
| Open Up 2154.T | Japan | $1.11B | +12% | -11% | 10% | 13.1× | -6.5% | +11.1% |
| JAC Recruitment 2124.T | Japan | $1.21B | +34% | +12% | 26% | 19.3× | -1.0% | +16.4% |
| Hays HAS.L | United Kingdom | $1.24B | +75% | -3% | 1% | 33.0× | 18.3% | +2.6% |
| Beijing Career International 300662.SZ | China | $643M | -10% | +13% | 2% | 12.0× | 10.6% | +29.9% |
| Upwork UPWK | United States | $1.26B | +14% | -1% | 18% | 8.9× | -7.1% | +16.1% |
| SMS 2175.T | Japan | $1.31B | +33% | +8% | 11% | 31.1× | 19.2% | +12.5% |
| Groupe Crit CEN.PA | France | $534M | -20% | +1% | 3% | 8.3× | n/a | n/a |
| dip 2379.T | Japan | $520M | -17% | -9% | 7% | 68.1× | -1.1% | +11.0% |
| HRnetGroup CHZ.SI | Singapore | $519M | -9% | +1% | 7% | 14.0× | -13.1% | +6.2% |
| Kelly Services KELYA | United States | $507M | +40% | -10% | 1% | 10.2× | 12.8% | -1.2% |
| Quess QUESS.NS | India | $505M | +41% | -12% | 2% | 17.1× | 16.3% | +7.1% |
| en Inc. 4849.T | Japan | $504M | +60% | -11% | 7% | 9.6× | 5.3% | +6.7% |
| SThree STEM.L | United Kingdom | $481M | +65% | -9% | 2% | 42.2× | 10.2% | +1.6% |
| Fullcast 4848.T | Japan | $401M | +12% | +33% | 9% | 11.6× | -12.6% | +12.3% |
| ManpowerGroup MAN | United States | $2.07B | +49% | +7% | 2% | 10.3× | -0.4% | 0.0% |