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    Personnel services
Adcorp Holdings Limited

Adcorp Holdings Limited

JJSE:ADR
615.00
ZAC
0.00
(0.00%)
65.90BMarket Cap
Adcorp Holdings Limited
JSE:ADR
(Johannesburg Stock Exchange)

Recent

price

615.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
ZAR
89.58
97.92
108.58
125.68
128.78
144.06
145.82
140.67
133.22
119.95
109.1
106.08
116.54
126.2
128.59
120.99
- -
Revenue per Share
1.92
2.06
2.22
1.77
2.36
1.92
-1.79
-5.17
2.4
-5.62
0.36
1.09
0.37
0.84
1.35
1.42
- -
Basic EPS, GAAP
2.67
-0.47
1.57
-1.86
1.83
-1.93
-0.93
0.97
2.92
-1.15
6.48
1.03
2.19
0.55
3.18
0.28
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.6
1.24
0.38
0.76
- -
Dividend per Share
16.86
18.73
20.71
21.1
22.69
24.33
20.49
14.65
18.16
11.55
12.59
13.83
14.85
14.18
14.47
14.88
14.88
Book Value per Share
5.26
2.15
2.47
2.07
5.08
3.46
2.18
1.51
5.08
3.98
6.34
7.85
8.7
8.11
8.85
9.34
9.34
Tangible Book Value per Share
60
65
79
93
103
108
108
109
109
108
107
107
103
103
103
103
103
Basic Weighted Avg Shares
5,385
6,388
8,577
11,726
13,318
15,586
15,804
15,325
14,527
12,922
11,717
11,318
12,049
12,982
13,237
12,458
- -
Sales/Revenue/Turnover
2.93
2.77
2.98
2.28
3.22
2.98
1.28
0.05
2.61
-3.97
0.16
1.6
1.79
0.8
1.19
1.15
- -
Operating Margin (%)
69
65
84
94
114
142
144
129
79
145
134
89
85
80
72
70
- -
Depreciation Expense
116
134
175
165
245
208
-194
-563
262
-605
38
116
39
86
139
146
- -
Net Income, GAAP
8.91
17.64
22.83
36.55
26.11
20.68
- -
- -
11.35
- -
80.47
23.24
- -
2.11
- -
3.8
- -
Effective Tax Rate (%)
2.15
2.1
2.04
1.41
1.84
1.33
-1.23
-3.68
1.8
-4.68
0.33
1.03
0.32
0.66
1.05
1.17
- -
Profit Margin (%)
423
270
205
947
1,289
1,563
575
962
1,066
203
669
620
685
676
749
816
816
Working Capital
176
93
13
725
863
1,349
649
978
690
404
770
348
332
304
305
267
267
LT Debt
1,013
1,441
1,896
2,098
2,465
2,631
2,215
1,603
1,976
1,246
1,352
1,473
1,535
1,460
1,491
1,532
1,532
Total Equity
10.18
9.3
8.68
6.05
9.2
8.64
- -
- -
11.55
- -
0.87
6.6
- -
6.06
- -
8.45
- -
Return on Invested Capital (%)
10.3
9.59
8.83
7.09
9.06
7.44
- -
- -
12.43
- -
2.24
7.79
- -
7.04
- -
9.97
- -
Return on Capital (%)
12.05
10.96
10.51
8.27
10.7
8.13
-7.99
-29.47
14.64
-37.66
2.95
8.23
2.56
5.75
9.4
9.67
- -
Return on Common Equity (%)

Capital Structure

ZAR

•

in mil. unless spec.
Feb'25
Aug'26
Feb'26
ST Debt
74
71
76
LT Borrowings
- -
- -
- -
LT Finance Leases
305
289
267
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
103
103
103
Market Capitalization
454
679
659

Working Capital

ZAR

•

in mil. unless spec.
Feb'25
Aug'26
Feb'26
Total Current Assets
2,150
2,049
2,025
Cash, Cash Equivalents & STI
494
253
405
Accounts Receivable, Net
1,524
1,638
1,513
Inventories
- -
- -
- -
Total Current Liabilities
1,401
1,298
1,209
Payables & Accruals
- -
- -
- -
ST Debt
74
71
76
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-3.54%
2.62%
2.78%
Free Cash Flow
-52.13%
67.41%
-91.05%
Net Income, GAAP
-26%
65.45%
5.38%
Sales/Revenue/Turnover
-2.03%
1.38%
-5.88%
Total Cash Common Dividend
- -
- -
99.16%

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
12,982
2025
- -
- -
13,237
2026
- -
- -
12,458

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.84
2025
- -
- -
1.35
2026
- -
- -
1.42

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1.24
2025
- -
- -
0.38
2026
- -
- -
0.76
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Business
Adcorp Holdings Limited (JSE: ADR) is a South African-based recruitment and staffing services provider that operates a portfolio of specialist recruitment agencies and workforce solutions businesses. The company offers permanent and temporary recruitment services, including executive search, contract staffing, payroll outsourcing, and training programs; it also provides workforce management solutions such as vendor-on-premise services, managed service provider arrangements, and talent sourcing across various sectors. Adcorp serves blue-chip corporate clients, government entities, and small-to-medium enterprises primarily in South Africa, with additional operations in select African countries and the United Kingdom. Founded in 1969 and headquartered in Johannesburg, South Africa, the group manages leading brands including Adcorp Blue Collar, Communicate Recruitment, Measured Ability Group (MAG), and Swift Human Resources. In recent developments, Adcorp has focused on operational stabilization following a 2023 business rescue process, including debt restructuring and divestitures of non-core assets; the company reported improved financial performance in its fiscal 2025 interim results, driven by growth in temporary staffing and new client wins in the engineering and logistics sectors.