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Heidrick & Struggles International HSII
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Quarterly report 2025-Q3
added 05-23-2026

Heidrick & Struggles International Financial Ratios 2024-2008 | HSII

Brief overview of Heidrick & Struggles International's valuation and returns

The review covers five available annual periods spanning 2019 to 2024.

Key multiples at the end of the period are P/E 92.14x (median 12.08x), EV/EBITDA 39.04x (median 9.04x), P/S 0.72x (median 0.72x). The multiple basket looks neutral against its history, differing from median levels by roughly 0%.

The inverse P/E implies an earnings yield of 1.1%. This is not a dividend yield, but current earnings relative to market price.

Current measures of operating quality are ROE 1.9%, ROA 0.7%, ROCE 1.1%. Low capital returns limit the ability to compound value internally.

Current PEG of 1.3x shows no clear imbalance between price and expected earnings momentum.

The cash cycle accelerated by 76.8 days to -26.7 days. Less capital is tied up in operations.

Conclusion

Heidrick & Struggles International's valuation and business quality look relatively balanced, with no pronounced distortion in either direction.

Annual Financial Ratios Heidrick & Struggles International

2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008

P/E

92.1 12.4 7.4 11.8 -14.8 12.1 12.5 -10.4 26.3 28.2 59.4 50.6 44.9 -11.5 - - -

P/S

0.7 0.6 0.5 0.8 0.9 0.8 0.8 0.8 0.7 0.9 0.8 0.7 0.6 0.7 - - -

EPS

0.4 2.7 4.0 3.7 -1.9 2.5 2.6 -2.6 0.8 0.9 0.4 0.3 0.3 -1.9 0.4 -1.2 -

EV (Enterprise Value)

1.03 B 942 M 998 M 1.08 B 763 M 830 M 768 M 672 M 564 M 611 M 516 M 445 M 409 M 467 M 69.4 M -123 M -235 M

EBITDA per Share

1.3 4.69 6.22 6.04 -0.46 4.08 4.3 2.92 2.79 2.6 2.3 1.76 1.74 2.37 1.67 -0.91 -

EV/EBITDA

39.0 10.0 8.1 9.0 3.3 3.8 4.1 5.4 4.7 6.1 5.3 5.5 5.2 4.8 2.4 8.0 -

PEG

-0.28 -0.04 -0.03 -0.04 1.3 -1.97 -0.06 0.03 -2.45 0.19 9.41 159.62 -0.38 0.02 - - -

P/B

1.8 1.5 1.4 2.5 2.1 1.8 2.3 2.4 1.6 1.9 1.6 1.3 1.1 1.5 - - -

P/CF

5.3 -25.2 4.9 3.1 23.9 7.5 6.3 9.5 20.9 11.7 7.6 8.0 56.1 14.5 - - -

ROE %

1.93 11.77 19.36 21.60 -14.09 15.16 18.45 -22.87 5.96 6.72 2.78 2.56 2.51 -13.42 2.54 -7.19 -

ROA %

0.73 4.77 6.76 6.56 -4.79 5.55 7.04 -8.28 2.65 2.99 1.20 1.15 1.26 -6.54 1.37 - -

ROCE %

1.06 10.72 19.12 17.18 -7.57 13.56 18.04 12.40 9.76 9.92 7.35 4.12 5.97 9.62 4.70 -9.18 -

Current Ratio

1.6 1.7 1.5 1.4 1.5 1.4 1.4 1.3 1.4 1.3 1.6 1.7 1.5 1.7 2.2 - -

DSO

43.8 45.5 43.8 40.2 57.2 68.3 70.7 58.5 59.5 53.8 59.9 64.0 66.7 64.8 29.6 - -

DPO

70.5 59.3 90.3 100.9 7.1 - - - - - - - - 127.6 4.5 - -

Operating Cycle

43.8 45.5 43.8 40.1 57.2 - - - - - - - - 64.8 29.6 - -

Cash Conversion Cycle

-26.7 -13.8 -46.5 -60.7 50.1 - - - - - - - - -62.8 25.1 - -

All numbers in USD currency

Quarterly Financial Ratios Heidrick & Struggles International

2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

EPS

0.85 1.02 0.65 - 0.73 -0.25 0.7 - 0.75 0.45 0.78 - 1.05 1.22 0.94 - 1.25 1.06 0.77 - -1.35 -1.33 0.45 - 0.52 0.75 0.64 0.59 0.87 0.61 0.54 - 0.44 -0.97 0.03 - 0.37 0.36 0.07 - 0.41 0.27 0.19 - 0.16 0.21 -0.04 - 0.23 0.11 -0.07 - 0.23 0.1 0.04 - -1.82 0.42 -0.26

EBITDA per Share

1.18 1.46 1.03 - 1.18 -0.01 1.05 - 1.22 0.79 1.09 - 1.52 1.81 1.67 - 2.55 1.56 1.32 - -0.91 -1.01 1.07 - 1.17 1.24 1.01 0.88 1.59 1.32 0.87 - 1.35 -1.11 0.56 - 1.27 1.04 0.41 - 1.25 0.86 0.57 - 1.15 1.11 0.26 - 1.13 0.76 0.25 - 0.72 0.51 0.33 - -546 703 -0.11

ROE %

13.67 9.09 7.80 4.94 8.36 7.38 12.20 9.21 14.63 17.77 20.94 17.23 24.81 26.33 25.10 19.83 10.05 -7.14 -11.29 -16.62 -13.27 1.47 15.50 12.72 16.92 19.73 19.07 18.45 18.10 3.36 -0.63 -4.43 -1.75 -3.02 6.08 5.77 8.71 7.97 6.74 6.23 7.45 6.06 3.81 2.47 4.13 3.69 1.65 1.96 3.61 2.69 2.18 2.67 -10.22 -8.92 -11.52 -11.79 -12.89 2.96 -1.85

ROA %

5.84 3.93 3.54 2.24 3.68 3.32 5.57 4.12 6.06 6.68 8.33 6.58 9.08 7.14 9.32 7.26 3.93 -1.91 -3.31 -5.49 -4.31 0.70 5.40 4.30 5.90 7.07 7.02 7.04 6.83 1.37 -0.15 -1.61 -0.41 -0.66 2.68 2.57 3.87 3.55 3.00 2.77 3.30 2.66 1.66 1.06 1.81 1.63 0.75 0.88 1.71 1.34 1.12 1.34 -4.94 -4.33 -5.61 -5.75 -6.28 1.44 -0.90

ROCE %

11.14 7.91 6.64 4.23 7.64 7.20 10.61 8.33 13.43 19.22 22.55 19.74 26.10 26.58 21.62 16.18 8.04 -3.44 -5.48 -9.72 -6.74 5.24 13.89 10.35 14.73 17.14 18.14 18.04 18.03 3.80 1.03 -2.41 0.92 -0.21 9.70 7.64 11.41 10.75 9.45 8.38 11.02 10.70 8.24 6.30 8.51 7.40 4.05 3.84 6.81 6.56 5.97 5.87 2.05 2.19 -1.01 -1.94 -3.82 3.12 -1.24

Current Ratio

1.7 1.8 1.8 1.6 1.7 1.8 1.9 1.7 1.7 1.8 1.9 1.5 1.6 - 1.6 1.4 1.5 1.6 1.7 1.5 1.5 1.5 1.5 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.6 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.8 2.0 2.0 2.0 2.0 1.9 1.9 1.9 1.9

DSO

57.7 55.7 50.2 - 60.2 58.1 51.9 - 66.0 59.7 54.0 - 33.7 28.2 51.1 - 60.1 51.9 50.7 - 55.6 54.4 51.5 - 53.4 55.9 58.0 54.9 54.5 55.9 59.2 - 54.8 57.3 60.7 - 57.4 55.3 57.5 - 48.6 50.4 55.6 - 47.9 44.2 55.3 - 53.0 51.4 59.9 - 51.5 51.8 56.1 - 42.2 42.1 -

DPO

55.9 64.5 73.2 - 60.3 60.4 67.5 - 51.2 58.5 63.1 - 44.2 42.9 93.2 - 8.8 86.9 6.1 - 7.7 720.1 6.6 - 6.0 6.5 6.7 6.3 6.2 6.5 7.8 - 8.3 8.7 8.3 - 7.6 7.2 7.1 - 5.9 6.2 6.8 - 6.0 5.4 8.0 - 8.7 8.6 10.5 - 9.9 9.9 10.6 - 8.4 8.4 -

Operating Cycle

57.7 55.7 50.2 - 60.2 58.1 51.9 - 66.0 59.7 54.0 - 33.7 28.2 51.1 - 60.1 51.9 50.7 - 55.6 54.4 51.5 - 53.4 55.9 58.0 54.9 54.5 55.9 59.2 - 54.8 57.3 60.7 - 57.4 55.3 57.5 - 48.6 50.4 55.6 - 47.9 44.2 55.3 - 53.0 51.4 59.9 - 51.5 51.8 56.1 - 42.2 42.1 -

Cash Conversion Cycle

1.8 -8.9 -22.9 - -0.1 -2.3 -15.7 - 14.8 1.1 -9.1 - -10.5 -14.6 -42.0 - 51.3 -35.0 44.6 - 47.9 -665.7 44.9 - 47.4 49.4 51.3 48.7 48.3 49.4 51.4 - 46.5 48.6 52.4 - 49.8 48.1 50.4 - 42.7 44.2 48.8 - 41.9 38.8 47.3 - 44.2 42.8 49.4 - 41.6 41.9 45.5 - 33.8 33.7 -

All numbers in USD currency

Multiples are an important financial analysis tool for the company Heidrick & Struggles International, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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