At a glance
Robert Half International Inc is worth $4.29B, about 32 times its fiscal 2025 earnings. Revenue fell 7.2% to $5.38B in fiscal 2025, with 2.5% kept as profit; over 5 years it has grown 1.0% a year. It pays a 5.64% dividend yield, raised every year for at least 9 years, and returned $2.25B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +56.3% over the past year with dividends reinvested and −14.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 42.2% in the 2020 crash (S&P 500: 33.7%) and 40.4% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Robert Half, founded in 1948, supplies skilled workers and business consulting to companies. Its largest segment, contract talent solutions, places professionals on temporary assignments. It produced 55.6% of the company's $5.38 billion in revenue for fiscal 2025, the year ended December 31, 2025. The work covers finance and accounting, technology, marketing and creative, legal, and administrative and customer support. These workers are Robert Half employees, and clients pay a fixed rate only for the hours worked. That lets businesses add help without adding permanent salaries. If a client hires a contract worker full time, it typically pays a one-time conversion fee.
Protiviti, a consulting firm the company wholly owns, brought in 36.2% of revenue. It was formed in 2002 around more than 700 former Arthur Andersen professionals. It advises clients on internal audit, risk, regulatory compliance, technology, finance and operations. Permanent placement, the company's original business, made up the other 8.2%. Here the employer pays a fee, generally a percentage of the new hire's annual pay, and candidates pay nothing.
The U.S. produced 77.6% of fiscal 2025 revenue and international markets 22.4%. As of December 31, 2025, the staffing business had offices in the U.S. and 18 other countries, and Protiviti worked in the U.S. and 13 others. The company uses its own artificial intelligence engine to match candidates with job openings.
Price history
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RHI +56.3% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Contract Talent Solutions | $2.99B | 55.6% |
| Protiviti | $1.95B | 36.2% |
| Permanent Placement Talent Solutions | $439.5M | 8.2% |
By geography
| U.S. | $4.17B | 77.6% |
| International | $1.21B | 22.4% |
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $1.36B, up 0.4% from a year earlier, and net income was $49.9M (+16.2%).
- For fiscal 2025, revenue was $5.38B (-7.2% year over year; +1.0% a year from FY2020 to FY2025) with a 2.5% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +1.0% watch |
|---|---|
| Operating margin | 1.4% weak |
| Free cash flow margin | 5% watch |
| Return on equity (FY2025) | 10.4% watch |
| Return on assets (FY2025) | 4.7% watch |
| Cash and investments | $321.3M (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $5.11B | $306.3M | $563.2M |
| FY2021 | $6.46B | $598.6M | $566.5M |
| FY2022 | $7.24B | $657.9M | $622.6M |
| FY2023 | $6.39B | $411.1M | $591.0M |
| FY2024 | $5.80B | $251.6M | $354.2M |
| FY2025 | $5.38B | $133.0M | $266.8M |
Valuation snapshot
| Market value | $4.29B |
|---|---|
| P/E ratio | 31.5 |
| Dividend yield | 5.64% |
Rank among 1514 US companies
Market value at each year end
Robert Half International’s market value went from $6.29B at the end of 2016 to $4.29B on Oct 28, 2026, down 32%; since the end of 2025 it is up 56%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $4.29B | +55.9% |
| 2025 | $2.75B | -62.2% |
| 2024 | $7.28B | -21.9% |
| 2023 | $9.31B | +16.2% |
| 2022 | $8.01B | -35.5% |
| 2021 | $12.42B | +74.3% |
| 2020 | $7.12B | -2.9% |
| 2019 | $7.33B | +5.5% |
| 2018 | $6.95B | -0.2% |
| 2017 | $6.96B | +10.7% |
| 2016 | $6.29B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| RHI price data to Oct 28, 2026 | +63.6% | +56.3% | -12.5% | -14.6% | +4.4% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +63.5% |
| 2025 | -59.1% |
| 2024 | -17.4% |
| 2023 | +22.1% |
| 2022 | -32.5% |
| 2021 | +81.3% |
| 2020 | +1.4% |
| 2019 | +12.8% |
| 2018 | +4.8% |
| 2017 | +16.2% |
| 2016 | +5.8% |
| 2015 | -18.1% |
| 2014 | +41.2% |
| 2013 | +34.3% |
| 2012 | +14.2% |
| 2011 | -5.0% |
| 2010 | +16.9% |
| 2009 | +31.3% |
| 2008 | -21.5% |
| 2007 | -26.3% |
| 2006 | -1.2% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 54.2% over that stretch · deepest drop along the way 54.3%, back to its old high 12.4 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 42.2% over that stretch · deepest drop along the way 42.2%, back to its old high 2.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 25.6% over that stretch · deepest drop along the way 40.4%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (13 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 11.4% | Mar 31, 2026 |
| ORBIS INVESTMENT MANAGEMENT LTD | 9.7% | Jun 30, 2026 |
| AQR Capital Management, LLC | 6.27% | Dec 31, 2025 |
| PZENA INVESTMENT MANAGEMENT LLC | 5.9% | Mar 31, 2026 |
| Vanguard Portfolio Management | 5.32% | Mar 31, 2026 |
| Vanguard Capital Management | 5.09% | Mar 31, 2026 |
| Capital World Investors | 4.1% | Jun 30, 2026 |
| Boston Partners | 4% | Mar 31, 2025 |
| Mawer Investment Management Ltd. | 3.86% | Jun 30, 2025 |
| Capital Research Global Investors | 1.2% | Dec 31, 2025 |
ETFs with the most weight in RHI
| PSCI Invesco S&P SmallCap Industrials ETF | 2.37% |
| XSHQ Invesco S&P SmallCap Quality ETF | 1.96% |
| OUSM ALPS | O’Shares U.S. Small-Cap Quality Dividend ETF | 1.77% |
| GDIV Harbor Dividend Growth Leaders ETF | 1.1% |
| VIOV Vanguard S&P Small-Cap 600 Value ETF | 0.92% |
| SLYV SPDR S&P 600 Small Cap Value ETF | 0.88% |
| IJS iShares S&P Small-Cap 600 Value ETF | 0.86% |
| FSCS First Trust SMID Capital Strength ETF | 0.79% |
What could go wrong
- Demand rises and falls with the economy. Demand for staffing depends heavily on the economy and on clients' hiring needs. Revenue fell from $7.24 billion in fiscal 2022 to $5.38 billion in fiscal 2025.
- Tough rivals in staffing and consulting. Staffing is highly competitive, and the company may struggle to keep clients or market share. Protiviti faces consulting rivals that are significantly larger and have more established reputations.
- Less demand for compliance consulting. Protiviti, 36.2% of fiscal 2025 revenue, helps companies with regulatory compliance, risk and internal audit. The company warns that demand for its compliance-related services may decline.
- Not enough skilled candidates. The business depends on finding qualified accountants, technology specialists, lawyers and other professionals to place with clients. A shortage of suitable candidates would limit how many jobs Robert Half can fill.
- AI brings operating, legal and privacy risks. Robert Half uses AI to match candidates to jobs, and Protiviti sells AI services. AI tools can be hard to deploy and may create legal or reputational problems. New AI rules could be costly.
- Lawsuits and liability for placed workers. Contract workers are Robert Half employees, so the company can face claims from them and from clients. Its February 2026 annual report says it faces several lawsuits that could bring substantial liabilities.
Recent events
- Quarterly results released
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Executive or board change; Shareholder vote results
- Quarterly results released
- Executive or board change
- Quarterly results released
For income and retirement investors
Robert Half has raised its dividend for at least 9 straight years through fiscal 2025. Dividends per share grew from $1.36 in fiscal 2020 to $2.36 in fiscal 2025, about 11.7% a year. The yield was 5.64% as of October 28, 2026. The catch is that fiscal 2025 dividends equaled 179% of earnings and 89% of free cash flow (cash left after running and investing in the business). That is hard to keep up unless profits recover. Buybacks (share repurchases) totaled $1.23 billion over fiscal 2021–2025 but slowed to $92 million in fiscal 2025.
The shares have fallen hard in downturns: 54% in the 2008 financial crisis, 42% in the 2020 COVID crash and 40% in the 2022 bear market. They recovered within about a year of the 2009 low and by June 2020. They had not regained their February 2022 peak as of October 28, 2026. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Robert Half make money?
Robert Half makes money mainly by supplying skilled workers to businesses and by selling consulting. In fiscal 2025, contract talent solutions brought in 55.6% of its $5.38 billion in revenue. Clients pay a fixed rate for each hour worked by contract professionals, who are Robert Half employees. Protiviti, its consulting firm, added 36.2%. Permanent placement added 8.2%; there, employers pay a fee based on the new hire's annual pay. About 77.6% of revenue came from the U.S.
Does Robert Half raise its dividend every year?
Yes, so far. Robert Half's regular dividend per share has risen for at least 9 straight fiscal years through 2025, and the streak may be longer. It grew from $1.36 in fiscal 2020 to $2.36 in fiscal 2025, about 11.7% a year. Raises are not guaranteed, though. Fiscal 2025 dividends were 179% of earnings, which means the company paid out more than it earned.
Is Robert Half's dividend safe?
It is not guaranteed, and coverage has thinned. In fiscal 2025, Robert Half paid $2.36 per share in dividends but earned $1.33 per share. Free cash flow covered the dividend, with 89% paid out, which left a small cushion. Net income fell 47.1% in fiscal 2025. For the quarter ended June 30, 2026, it was 35.8% lower than a year earlier. On the plus side, its filings showed no borrowings as of June 30, 2026. The yield was 5.64% as of October 28, 2026.
What is Protiviti?
Protiviti is Robert Half's wholly owned consulting firm. It helps companies with internal audit, risk, regulatory compliance, technology, finance, data and operations, and it helps clients adopt AI. Robert Half formed it in 2002 by hiring more than 700 professionals from Arthur Andersen's internal audit and risk consulting practice. Protiviti brought in $1.95 billion, or 36.2% of revenue, in fiscal 2025. As of December 31, 2025, it operated in the U.S. and 13 other countries.
How has Robert Half stock performed?
It has swung widely. As of October 28, 2026, the stock was up 63.6% year to date and 56.3% over one year. It was down 55% over five years and up 54% over ten years. It lost 59% in calendar 2025, a year when revenue fell 7.2% and net income fell 47.1%. Its deepest drop in the 21 years of price history was 79%, and it fell 72% from a peak in the three years to October 28, 2026.