At a glance
Everforth Inc is worth $1.52B, about 14 times its fiscal 2025 earnings. Revenue fell 2.9% to $3.98B in fiscal 2025, with 2.9% kept as profit; over 5 years it has grown 2.6% a year. It pays no dividend; it spent $1.23B buying back its shares over FY2021–FY2025. The stock returned −16.9% over the past year with dividends reinvested and −20.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 47.3% in the 2020 crash (S&P 500: 33.7%) and 39.5% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Everforth, formerly ASGN, sells information technology (IT) services to large companies and U.S. federal agencies. In November 2025 it announced plans to bring its six brands under the Everforth name: Apex Systems, Creative Circle, CyberCoders, ECS, GlideFast and TopBloc. Its work covers cloud and infrastructure, data and AI, software development, customer experience, cybersecurity, and business software such as Salesforce, ServiceNow and Workday.
The company started out in IT staffing, which means supplying skilled tech and creative marketing workers to clients for temporary assignments. It still does this, but it is shifting toward consulting, where it delivers whole projects. Consulting draws on the same workers but brings higher margins (profit per dollar of sales) and more predictable revenue. It made up 62% of 2025 revenue. Work is billed by the hour, at a fixed price or, for some government jobs, on a cost-reimbursement basis.
The Commercial segment brought in $2.79 billion, or 70% of 2025 revenue of $3.98 billion. Its clients are Fortune 1000 and large mid-market companies in financial services, healthcare, technology, media and telecom, and other industries. The Federal Government segment brought in $1.19 billion, or 30%. It serves defense, intelligence and national security customers on contracts of roughly three to five years. Its backlog (expected future revenue from contracts already won) was $2.9 billion as of December 31, 2025.
Price history
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EFOR -16.9% over the year to Oct 29, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Commercial Business | $2.79B | 70.1% |
| Federal Government Business | $1.19B | 29.9% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $1.03B, up 2% from a year earlier, and net income was $23.1M (-39.4%).
- For fiscal 2025, revenue was $3.98B (-2.9% year over year; +2.6% a year from FY2020 to FY2025) with a 2.9% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +2.6% watch |
|---|---|
| Operating margin | 5.8% watch |
| Free cash flow margin | 7.2% watch |
| Return on equity (FY2025) | 6.3% weak |
| Return on assets (FY2025) | 3.1% watch |
| Net cash (cash minus debt) | $-1.24B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $3.50B | $200.3M | $392.2M |
| FY2021 | $4.01B | $409.9M | $159.0M |
| FY2022 | $4.58B | $268.1M | $270.3M |
| FY2023 | $4.45B | $219.3M | $417.0M |
| FY2024 | $4.10B | $175.2M | $364.7M |
| FY2025 | $3.98B | $113.5M | $288.1M |
Valuation snapshot
| Market value | $1.52B |
|---|---|
| P/E ratio | 14.2 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Everforth’s market value went from $2.34B at the end of 2016 to $1.52B on Oct 29, 2026, down 35%; since the end of 2025 it is down 26%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 29, 2026 | $1.52B | -26.0% |
| 2025 | $2.06B | -44.2% |
| 2024 | $3.68B | -18.8% |
| 2023 | $4.54B | +11.6% |
| 2022 | $4.07B | -36.8% |
| 2021 | $6.43B | +45.5% |
| 2020 | $4.42B | +17.9% |
| 2019 | $3.75B | +31.0% |
| 2018 | $2.86B | -14.4% |
| 2017 | $3.34B | +43.0% |
| 2016 | $2.34B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| EFOR price data to Oct 29, 2026 | -23.2% | -16.9% | -23.0% | -20.9% | +1.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -23.2% |
| 2025 | -42.2% |
| 2024 | -13.3% |
| 2023 | +18.0% |
| 2022 | -34.0% |
| 2021 | +47.7% |
| 2020 | +17.7% |
| 2019 | +30.2% |
| 2018 | -15.2% |
| 2017 | +45.5% |
| 2016 | -1.8% |
| 2015 | +35.4% |
| 2014 | -5.0% |
| 2013 | +72.2% |
| 2012 | +81.4% |
| 2011 | +37.2% |
| 2010 | +14.0% |
| 2009 | +26.1% |
| 2008 | -19.1% |
| 2007 | -40.3% |
| 2006 | +7.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 85.4% over that stretch · deepest drop along the way 85.9%, back to its old high 23.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 47.2% over that stretch · deepest drop along the way 47.3%, back to its old high 2.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 26.4% over that stretch · deepest drop along the way 39.5%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 17 open-market purchases ($1.9M) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Apr 24, 2026 | Theodore S. Hanson Chief Executive Officer, Director | buy | $1000K |
| Apr 24, 2026 | Arshad Matin Director | buy | $193K |
| Apr 27, 2026 | Brian J. Callaghan Director | buy | $104K |
| Apr 24, 2026 | Maria R Hawthorne Director | buy | $100K |
| Apr 24, 2026 | Marie Perry EVP, Chief Financial Officer | buy | $100K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 15.7% | Mar 31, 2026 |
| Vanguard Portfolio Management | 8.06% | Mar 31, 2026 |
| AQR Capital Management, LLC | 6.13% | Mar 31, 2026 |
| Vanguard Capital Management | 4.97% | Sep 30, 2026 |
| FMR LLC | 4.1% | Sep 30, 2025 |
ETFs with the most weight in EFOR
| MYLD Cambria Micro and SmallCap Shareholder Yield ETF | 1.03% |
| XITK SPDR FactSet Innovative Technology ETF | 0.84% |
| GSC Goldman Sachs Small Cap Core Equity ETF | 0.7% |
| XSW SPDR S&P Software & Services ETF | 0.69% |
| FFSM Fidelity Fundamental Small-Mid Cap ETF | 0.56% |
| CALF Pacer US Small Cap Cash Cows ETF | 0.51% |
| FNX First Trust Mid Cap Core AlphaDEX Fund | 0.3% |
| GVLU Gotham 1000 Value ETF | 0.3% |
What could go wrong
- Heavy reliance on U.S. government spending. The Federal Government segment made up 30% of 2025 revenue. The company named efforts by the Department of Government Efficiency and a government shutdown among the reasons its 2025 revenue fell.
- Security clearances and strict contracting rules. Much federal work depends on security clearances for staff and facilities and on following complex contracting laws. Losing clearances or failing government audits could bring fines, suspension or debarment (a ban from future contracts).
- Clients can walk away easily. Most client agreements are not exclusive, and many can be ended at any time. IT services has low barriers to entry, so rivals cutting prices could take business or squeeze margins.
- Finding and keeping skilled tech workers. The company employed the equivalent of about 19,600 full-time billable professionals in 2025. They can quit at any time, clients often hire them away, and higher pay may not be passed on to clients.
- Acquisitions may disappoint or need write-downs. The company made six acquisitions over the five years to 2025. Deals may not integrate well, and a write-down of goodwill (the premium paid for acquired businesses) could hit earnings and net worth.
- Debt well above cash on hand. As of September 30, 2026, total debt was about $1.39 billion against $147.5 million in cash and investments. Failing to meet loan terms could restrict how the company runs its business.
Recent events
- Quarterly results released
- Quarterly results released
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Shareholder vote results
- Bylaws or fiscal year changed
- Quarterly results released
- Quarterly results released
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Everforth does not pay a dividend and paid none in fiscal 2021–2025, so it offers no regular income. An investor who wants cash from it would have to part with shares. The company returns cash through buybacks instead and spent about $1.23 billion on them over those five years. Shares outstanding fell 21%, from 52.1 million in October 2021 to 41.1 million in October 2026. Buybacks of $170.1 million in 2025 were covered by $288.1 million of free cash flow (cash left after running and investing in the business).
The stock has fallen hard in downturns. It dropped about 86% in the 2008 financial crisis and did not recover until February 2011. In the 2020 COVID crash it fell 47% but recovered by May 2020. It fell 40% between January and June 2022 and had not regained that peak as of October 29, 2026. A single stock like Everforth carries more risk than a diversified fund.
Questions investors ask
How does Everforth make money?
Everforth makes money from IT consulting and staffing services. It builds teams of tech specialists for large companies and U.S. federal agencies. It bills by the hour, at a fixed price or, for some government work, on a cost-reimbursement basis. In 2025 the Commercial segment produced 70% of its $3.98 billion in revenue and the Federal Government segment produced 30%. Consulting earns higher margins than placing temporary staff and made up 62% of revenue. Net income was $113.5 million, or 2.9% of revenue.
Is Everforth the same company as ASGN?
Yes. Everforth is the new name of ASGN Inc, which was earlier called On Assignment Inc. ASGN announced the rebrand in November 2025 to bring its six brands under one parent name, including Apex Systems, CyberCoders and ECS. The switch was planned for the first half of 2026. The company was incorporated in 1992 and trades on the New York Stock Exchange as EFOR.
Does Everforth pay a dividend?
No. Everforth paid no dividends in fiscal 2021 through 2025, so it offers no yield or dividend record for income investors. Instead it repurchases its own shares and spent about $1.23 billion on buybacks over those five years. The share count fell 21%, from 52.1 million in October 2021 to 41.1 million in October 2026. Buybacks raise each remaining share's slice of profits, but they put no cash in the hands of shareholders who hold on.
How much of Everforth's revenue comes from the government?
About 30%. The Federal Government segment brought in $1.19 billion of Everforth's $3.98 billion revenue in 2025. Contracts where Everforth is the prime contractor (the main contractor rather than a subcontractor) with federal agencies made up 26% of revenue. The U.S. government was the only client above 10%. Federal contracts generally run three to five years, and the backlog was $2.9 billion as of December 31, 2025. Spending cuts, shutdowns or delayed contract awards can hurt results.
Why has Everforth stock fallen so much?
The share price has fallen as profits shrank. In 2025 net income dropped 35.2% to $113.5 million and revenue slipped 2.9% to $3.98 billion. The company tied the revenue decline to higher interest rates, tariffs, Department of Government Efficiency efforts and a government shutdown. Diluted earnings per share fell from $7.66 in 2021 to $2.60 in 2025. The stock lost 42.2% in 2025 and 23.2% in 2026 through October 29. It also rose 58.1% over the three months to that date.