Kforce

Human Resources & Recruiting accounting compliance recruiting staffing workforce management

Kforce provides professional and technical specialty staffing services and solutions. It operates through three segments: Technology (Tech), Finance and Accounting (FA), and Government Solutions (GS). The Company provides temporary staffing and permanent placement services to its clients in various areas and industries. In addition, its GS segment provides services and solutions to the Federal Government as a prime and a subcontractor. This segment offers integrated business solutions to its customers in areas, such as information technology, healthcare informatics, data and knowledge management, research and development, audit readiness, financial management, accounting, and other areas.

Revenue(FY, 2017)

$1.4 B

Market capitalization(2018-05-21)

$863.1 M

Subscribers(Feb, 2018)

3 M

Type

Public

Tampa, US

Founded

1962

Size (employees)

2,600 (est)-7%

Website

kforce.com

Kforce was founded in 1962 and is headquartered in Tampa, US

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Key People/Management at Kforce

David Dunkel

Chairman and Chief Executive Officer

Joseph Liberatore

President

David Kelly

Chief Financial Officer & Secretary

Kye Mitchell

Chief Operations Officer

Michael Blackman

Chief Corporate Development Officer

Robert Edmund

General Counsel and Chief Talent Officer

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Kforce Office Locations

Kforce has offices in Murray, San Antonio, San Diego, San Francisco and in 49 other locations

Tampa, US (HQ)

1001 E. Palm Ave.

Addison, US

800 15301 Dallas Pkwy

Atlanta, US

n 2135 Defoor Hills Rd NW

Atlanta, US

930 990 Hammond Dr

Austin, US

820 1701 Directors Blvd

Austin, US

202 6500 River Pl Blvd

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Kforce Financials and Metrics

Kforce Financials

Kforce's revenue was reported to be $1.36 b in FY, 2017 which is a 2.9% increase from the previous period.

Summary

USD
Revenue (Q1, 2018)	346.3 m
Net income (Q1, 2018)	9.2 m
EBIT (Q1, 2018)	13.6 m
Market capitalization (21-May-2018)	863.1 m
Closing share price (21-May-2018)	33.1
Cash (31-Mar-2018)	257 k
EV	988.2 m

Kforce's current market capitalization is $863.1 m.

Income Statement

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	1.2 b	1.3 b	1.3 b	1.4 b
Revenue growth, %		8%	0%	3%
Cost of goods sold	842.8 m	905.1 m	911.2 m	949.9 m
Gross profit	374.6 m	414.1 m	408.5 m	408.1 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Revenue	312.6 m	337.4 m	341.6 m	322.2 m	335 m	336.5 m	334 m	340.3 m	341.1 m	346.3 m
Cost of goods sold	217.9 m	231.3 m	231.8 m	225 m	228.8 m	231.1 m	236.9 m	236.4 m	236.7 m
Gross profit	94.7 m	106 m	109.8 m	97.2 m	106.3 m	105.4 m	97.1 m	103.9 m	104.4 m
Gross profit Margin, %	30%	31%	32%	30%	32%	31%	29%	31%	31%

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Balance Sheet

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	1.2 m	1.5 m	1.5 m	379 k
Accounts Receivable	204.7 m	198.9 m	206.4 m	225.9 m
Prepaid Expenses	10.2 m	9.1 m	10.7 m	12.1 m
Current Assets	224.4 m	214.5 m	223.5 m	245.4 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Cash	1.9 m	1.7 m	1.2 m	920 k	1 m	925 k	2.7 m	3.5 m	703 k	257 k
Accounts Receivable	203.5 m	215.3 m	216.1 m	210.4 m	215.7 m	209.4 m	227.6 m	225.4 m	243.8 m	237.8 m
Prepaid Expenses	10.2 m	10.4 m	9.7 m	10.5 m	12.8 m	11.7 m	10.7 m	10.9 m	12.7 m	12 m
Current Assets	221.2 m	233.7 m	233.9 m	225.7 m	234.4 m	227.8 m	242 m	241.6 m	259.1 m	250.9 m

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Cash Flow

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	90.9 m	42.8 m	32.8 m	33.3 m
Depreciation and Amortization	10.1 m	9.8 m	8.8 m	8.5 m
Accounts Payable	5.7 m	1.8 m	(1.9 m)	(1.5 m)
Cash From Operating Activities	(25.6 m)	70.2 m	39.4 m	29.3 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017	Q1, 2018
Net Income	5.8 m	17.4 m	30.9 m	3.7 m	14.5 m	23.5 m	5.9 m	17 m	27.1 m	9.2 m
Depreciation and Amortization	2.4 m	4.8 m	7.4 m	2.3 m	4.6 m	6.7 m	2.1 m	4.2 m	6.4 m	2.1 m
Accounts Payable	(201 k)	2.4 m	1.9 m	(2.5 m)	1.1 m	(2.1 m)	(2.1 m)	(4.1 m)	(1.3 m)	(2.1 m)
Cash From Operating Activities	11.4 m	26 m	55.2 m	3.3 m	16 m	29.7 m	(10.5 m)	5.5 m	5.6 m	10.3 m

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Ratios

USD	Y, 2018
EV/EBIT	72.7 x
EV/CFO	96.4 x
EV/FCF	112.5 x
Debt/Equity	0.9 x
Debt/Assets	0.3 x
Financial Leverage	2.9 x

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Kforce Operating Metrics

Kforce's Customers was reported to be 4 k in Feb, 2018. Kforce's Subscribers was reported to be 3 m in Feb, 2018.

	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017	Sep, 2017	Q3, 2017	Nov, 2017	FY, 2017	Feb, 2018	Q1, 2018
Customers												4 k		3 k		4 k
Locations	63	63	63	64	63	63	63	62	62	61	60	60	60	60	60		59
Markets														41
Subscribers																3 m

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Kforce Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
RDI Systems	December 01, 2008
Bradson Corp	October 01, 2006
Pinkerton Computer Consultants	January 31, 2006
VistaRMS	December 03, 2004
Hall Kinion & Associates	June 06, 2004
KFAH II, LLC
KFAH, LLC
Kforce.com, Inc.
Kforce Flexible Solutions, LLC
Kforce Global Solutions, Inc.