Randstad (RAND NA) Netherlands

Industrials

the IDEA!

RAND offers an attractive risk-reward anchored by a “virtually guaranteed” dividend yield of 5.6%, providing support for the share price. The company’s FY25 FCF is more than sufficient to pay shareholders the conditional ordinary cash floor dividend of EUR 1.62 per share and is highly likely to be repeated thereafter. Beyond income, the IDEA! sees scope for a share price recovery as staffing markets across the company’s key geographies appears to have bottomed. The US market is improving, France may be nearing a trough and conditions in the Netherlands have stabilised. Trading on undemanding multiples (EV/EBITDA ~7.9x), RAND is preferred over Adecco and ManpowerGroup due to its superior FCF generation and sustainable capital returns.

- 06 February, 2026

Randstad (RAND NA) Netherlands

Industrials

the IDEA!

14% dividend yield! Shareholders to be rewarded with a special dividend of €6.75 per share as cash surplus hits €1.25bn. RAND remains comfortably on track to record higher revenue in 2021 vs. 2019, an achievement not many staffing companies will accomplish. It also continues to invest heavily in its workforce, products and services, and above all digitalisation to drive market share gains long-term.

- 29 October, 2021