Financial Overview Of Kelly Services
An overview of Kelly Services financial situation looks okay. Their 10k audit report is clean, with no irregularities over the last few periods. The economic cycle has an immediate effect on their financial situation, as the economy grows, service revenue increases and vice versa. In our current economic expansion, conditions are fine for Kelly Services and their overall financial position is neither strong nor weak. Due to Kelly Services dependency on the economic cycle, as an expansion occurs they are poised for growth and when a contraction occurs they have to cut back and are stressed by additional pressure from customers and competitors. Overseas operations can offset investment risk, foreign exchange rate risk, and interest rate risk …show more content…
Adecco, Man Power, and Randstat are close in each category with Robert Half exceeding all with ROA at 19.73 and NPM at 6.5. Robert Half has a higher focus on financial services and risk management, as part of their portfolio, allowing them to compete in different spaces. There may be opportunities for Kelly Services to expand in these areas as they have the strength and existing capacity. Kelly Services strengths are their existing market share and business processes and their weakness are their ability or willingness to expand and …show more content…
This liquidity ratio shows that the company is viable and an ongoing operation their ability to pay back liabilities. This shows that even though Kelly Services is affected by the economic cycle they can still meet their monthly obligations. Cash flow from operations equals CFO over Current liabilities at .049. This is an important liquidity ratio recognizing cash flow and of strategic importance to future planning. Kelly Services needs no external financing to handle their debts and capital expansion would not be a problem for them. Days sales outstanding equals gross receivables over net sales divided by 365 at 78.6. This ratio recognizes the time it takes Kelly Services to complete their business process, which is to offer a product, sell it, deliver it, and get paid for it. This number is high for the industry and they explain in their 10k MD&A that this is a result of a lag due to new job growth. This may be an area to focus on, as reducing this number could increase the bottom line. Accounts receivable turnover equals net sales over gross trade receivables at 4.4. This is a strategically important liquidity ratio because it shows Kelly Services efficienciently they use their
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