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Heidrick & Struggles International, Inc.

Heidrick & Struggles International, Inc.

NASDAQ•HSII
CEO: Ms. Tracey Heaton J.D.
Sector: Industrials
Industry: Staffing & Employment Services
Listing Date: 1999-04-27
Heidrick & Struggles International, Inc., together with its subsidiaries, provides executive search, consulting, and on-demand talent services to businesses and business leaders worldwide. It enables its clients to build leadership teams by facilitating the recruitment, management, and development of senior executives. The company also offers on-demand services to provide clients with independent talent, including professionals with industry and functional expertise for interim leadership roles and critical, and project-based initiatives; and consulting services, including leadership assessment and development, team and organization acceleration, digital acceleration and innovation, diversity and inclusion advisory services, and culture shaping services. It provides its services to Fortune 1000 companies; major U.S. and non-U.S. companies; middle market and emerging growth companies; private equity firms; governmental, higher education, and not-for-profit organizations; and other private and public entities. Heidrick & Struggles International, Inc. was founded in 1953 and is headquartered in Chicago, Illinois.
Contact Information
233 South Wacker Drive Willis Tower, Suite 4900, Chicago, IL, 60606-6303, United States
312-496-1200
www.heidrick.com
Market Cap
$1.23B
P/E (TTM)
33.9
25.2
Dividend Yield
1.0%
52W High
$59.05
52W Low
$36.87
52W Range
100%
Rank42Top 47.5%
3.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 3.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025

Financial Dashboard

Q3 2025 Data

Revenue

$322.84M+14.15%
4-Quarter Trend

EPS

$0.85+16.44%
4-Quarter Trend

FCF

$129.18M+19.57%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Net Revenue Increased 12.3% Nine months net revenue reached $923.7M, up $101.3M, driven by strong Executive Search confirmation growth.
Net Income More Than Doubled Net income for nine months totaled $52.0M, significantly exceeding $23.7M reported in the prior year period.
Adjusted EBITDA Grew 14.2% Adjusted EBITDA for nine months was $97.2M, improving 14.2% compared to $85.1M last year.
Strong Liquidity Position Maintained Total cash, equivalents, and restricted cash ended at $454.9M, reflecting healthy operational cash generation through September 30, 2025.

Risk Factors

Prior Goodwill Impairment Noted $16.2M impairment charges recorded in 9M 2024, primarily impacting On-Demand Talent reporting unit performance.
Merger Closing Conditions Pending Proposed merger completion relies on stockholder approval and regulatory clearance; failure risks adverse stock price impact.
Restrictive Merger Covenants Apply Pending merger limits strategic financing activities and operational changes without Parent company consent until closing.
Credit Loss Provision Increased Provision for credit losses rose to $7.8M for nine months 2025, indicating higher potential client default exposure.

Outlook

Merger Transaction Details Finalized Common stock conversion set at $59.00 cash per share upon closing of the proposed acquisition transaction.
Executive Search Growth Drivers Focus remains on increasing average revenue per search and consultant productivity across all practice groups.
Continued R&D Investment Consolidated R&D expense increased 10.9% to $18.8M for 9M 2025, supporting technology-enabled product development.
No New Tax Legislation Impact Evaluating new tax law changes effective 2025, but management currently expects no material impact on operations.

Peer Comparison

Revenue (TTM)

Allegiant Travel CompanyALGT
$2.58B
+3.3%
PROG Holdings, Inc.PRG
$2.51B
+3.7%
Barrett Business Services, Inc.BBSI
$1.22B
+9.6%

Gross Margin (Latest Quarter)

PROG Holdings, Inc.PRG
100.0%
+66.2pp
Preformed Line Products CompanyPLPC
29.7%
-1.5pp
CRA International, Inc.CRAI
27.4%
-3.9pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ALGT$1.62B-5.5-27.4%48.4%
GRC$1.38B27.412.9%37.0%
CRAI$1.37B24.227.0%30.9%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
4.7%
Moderate Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Mar 2, 2026
|
EPS:$0.75
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 3, 2025|
    Revenue: $322.84M+14.2%
    |
    EPS: $0.85+16.4%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 4, 2025|
    Revenue: $321.91M+13.8%
    |
    EPS: $1.02-508.0%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 5, 2025|
    Revenue: $287.44M+6.8%
    |
    EPS: $0.65-7.1%
    Miss

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 3, 2025|
    Revenue: $1.12B+7.2%
    |
    EPS: $0.43-84.2%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 4, 2024|
    Revenue: $282.82M+5.6%
    |
    EPS: $0.73-2.7%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Jul 29, 2024|
    Revenue: $282.88M+3.3%
    |
    EPS: $-0.25-155.6%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 6, 2024|
    Revenue: $269.10M+11.1%
    |
    EPS: $0.70-7.9%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Mar 4, 2024|
    Revenue: $1.04B-3.9%
    |
    EPS: $2.72-32.3%
    Beat