Robert Half (FRA:RHJ) Cyclically Adjusted PS Ratio: 0.65 (As of Jul. 23, 2026) — 55% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

FRA:RHJ Robert Half Inc FRA:RHJ
71 GF Score
Price €35.61
GF Value €50.79
Valuation Significantly Undervalued
! 10 Warning Signs
View Full Analysis

What is Robert Half Cyclically Adjusted PS Ratio?

Robert Half FRA:RHJ -1.79% 71 Cyclically Adjusted PS Ratio is 0.65 as of Jul. 23, 2026, which is 55% below its 10-year median of 1.46. GuruFocus rates FRA:RHJ with a GF Score™ of 71/100 and a GF Value™ of €50.79 (Significantly Undervalued). The stock has 10 warning signs investors should review. Among 716 Business Services companies, Robert Half ranks better than 58.1% on this metric.

As of today (2026-07-23), Robert Half's current share price is €35.61. Robert Half's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €54.92. Robert Half's Cyclically Adjusted PS Ratio for today is 0.65.

The historical rank and industry rank for Robert Half's Cyclically Adjusted PS Ratio or its related term are showing as below:

FRA:RHJ' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.37   Med: 1.46   Max: 2.6
Current: 0.65

During the past years, Robert Half's highest Cyclically Adjusted PS Ratio was 2.60. The lowest was 0.37. And the median was 1.46.

FRA:RHJ's Cyclically Adjusted PS Ratio is ranked better than
58.1% of 716 companies
in the Business Services industry
Industry Median: 0.885 vs FRA:RHJ: 0.65

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Robert Half's adjusted revenue per share data for the three months ended in Mar. 2026 was €11.258. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €54.92 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Robert Half  (FRA:RHJ) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Robert Half Cyclically Adjusted PS Ratio Related Terms


Robert Half Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Robert Half's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Robert Half Cyclically Adjusted PS Ratio Chart

Robert Half Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.37 1.39 1.55 1.18 0.44

Robert Half Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.90 0.67 0.55 0.44 0.41

FRA:RHJ vs KFY, TNET, MAN: Cyclically Adjusted PS Ratio Comparison

For the Staffing & Employment Services subindustry, Robert Half's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Robert Half Cyclically Adjusted PS Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, Robert Half's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Robert Half's Cyclically Adjusted PS Ratio falls into.


FRA:RHJ
71GF Score
Robert Half Inc FRA:RHJ
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Robert Half Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Robert Half's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=35.61/54.92
=0.65

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Robert Half's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Robert Half's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=11.258/330.2130*330.2130
=11.258

Current CPI (Mar. 2026) = 330.2130.

Robert Half Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 9.250 241.018 12.673
201609 9.304 241.428 12.726
201612 9.412 241.432 12.873
201703 9.522 243.801 12.897
201706 9.308 244.955 12.548
201709 8.949 246.819 11.973
201712 9.184 246.524 12.302
201803 9.209 249.554 12.185
201806 10.201 251.989 13.368
201809 10.347 252.439 13.535
201812 10.869 251.233 14.286
201903 11.017 254.202 14.311
201906 11.471 256.143 14.788
201909 12.163 256.759 15.643
201912 12.048 256.974 15.482
202003 11.976 258.115 15.321
202006 8.700 257.797 11.144
202009 8.912 260.280 11.307
202012 9.491 260.474 12.032
202103 10.442 264.877 13.018
202106 11.725 271.696 14.250
202109 13.057 274.310 15.718
202112 14.110 278.802 16.712
202203 14.901 287.504 17.115
202206 16.065 296.311 17.903
202209 17.049 296.808 18.968
202212 15.124 296.797 16.827
202303 14.964 301.836 16.371
202306 14.219 305.109 15.389
202309 13.848 307.789 14.857
202312 12.870 306.746 13.855
202403 13.006 312.332 13.751
202406 13.239 314.175 13.915
202409 12.891 315.301 13.501
202412 12.943 315.605 13.542
202503 12.379 319.799 12.782
202506 11.812 322.561 12.092
202509 11.535 324.800 11.727
202512 11.160 324.054 11.372
202603 11.258 330.213 11.258

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 0.65 mean?
Robert Half (FRA:RHJ) has a Cyclically Adjusted PS Ratio of 0.65 as of Jul. 23, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Robert Half and its competitors. This is 55% below median its historical median of 1.46. Over the past decade, Robert Half's Cyclically Adjusted PS Ratio has ranged from 0.37 to 2.60. According to the industry distribution chart, Robert Half ranks #300 out of 716 companies in the Business Services industry, placing it in the top 41.9%.
Is Robert Half's Cyclically Adjusted PS Ratio too high?
Robert Half's current Cyclically Adjusted PS Ratio of 0.65 is 55% below median its 10-year median of 1.46. Over the past 10 years, this metric has ranged from a low of 0.37 to a high of 2.60. The Business Services industry median Cyclically Adjusted PS Ratio is 0.89. Robert Half's value of 0.65 is 26.6% below this industry median. Based on the distribution chart, Robert Half ranks #300 out of 716 companies in the Business Services industry, which is above the industry midpoint. Overall, Robert Half has a GF Score™ of 71/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Robert Half's Cyclically Adjusted PS Ratio compare to KFY and TNET?
According to the Business Services industry distribution chart, Robert Half ranks #300 out of 716 companies for Cyclically Adjusted PS Ratio. This puts Robert Half in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 0.89. Robert Half's value of 0.65 is 26.6% below this benchmark. Historically, Robert Half's own Cyclically Adjusted PS Ratio has ranged from 0.37 to 2.60 over the past decade. While the company's 10-year median is 1.46 vs. the industry median of 0.89, Robert Half has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Business Services company?
The median Cyclically Adjusted PS Ratio among Business Services companies is 0.89, based on 716 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Robert Half's current Cyclically Adjusted PS Ratio of 0.65 is 26.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Robert Half and its competitors. For the Business Services industry, the median Cyclically Adjusted PS Ratio is 0.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Robert Half's current Cyclically Adjusted PS Ratio is 0.65, which is 55% below median its own 10-year median of 1.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Robert Half stock overvalued right now?
Based on GuruFocus' analysis, Robert Half (FRA:RHJ) is currently considered Significantly Undervalued. The stock's GF Value™ is €50.79, compared to a current price of €35.61 — trading 29.9% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.65, which is 55% below median its 10-year median of 1.46 and 26.6% below the Business Services industry median of 0.89. Robert Half's overall GF Score™ is 71/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Robert Half (FRA:RHJ), the current Cyclically Adjusted PS Ratio is 0.65 as of Jul. 23, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Robert Half (FRA:RHJ) Overvalued in 2026?

Based on GuruFocus' analysis, Robert Half stock appears to be undervalued. The current stock price of €35.61 is trading 29.9% below its estimated GF Value™ of €50.79. GuruFocus considers Robert Half to be Significantly Undervalued.

Key valuation signals for FRA:RHJ:

  • Cyclically Adjusted PS Ratio: 0.65 (55% below median its 10-year median of 1.46)
  • GF Value™: €50.79 vs. price of €35.61 (29.9% below fair value)
  • GF Score™: 71/100 with 10 warning signs
  • Industry Position: 26.6% below the Business Services median (#300 of 716)

No single metric tells the full story. See the FRA:RHJ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Robert Half Business Description

Address 2884 Sand Hill Road, Suite 200, Menlo Park, CA, USA, 94025
Robert Half Inc was founded in 1948, Robert Half provides temporary, permanent, and outcome-based staffing for both in-person and remote positions in the finance and accounting, technology, legal, marketing, and administrative fields. Its subsidiary consulting arm, Protiviti, specializes in technology, risk, auditing, and compliance matters. The firm generates its sales inside the U.S. and is one of the specialized firms in the fragmented U.S. staffing industry.
71GF Score

Get the complete analysis for FRA:RHJ

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€35.61
Price
€50.79
GF Value