Robert Half Inc. logo RHI - Robert Half Inc.

Price: -- -- | CONSENSUS: Hold DETAILS
STRONG
BUY
0
BUY 7
HOLD 11
SELL 7
STRONG
SELL
0
| PRICE TARGET: $40.67 DETAILS
HIGH: $50.00
LOW: $32.00
MEDIAN: $40.00
CONSENSUS: $40.67
UPSIDE: 16.94%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Stable Earnings Power 40% confidence

Primary model: P/Adj-EPS × Normalized Multiple

Valuation Signal Undervalued Moderate
Trading 35.4% below fair value
Current Price $34.78
Bear Case $43.05 23.8% upside ($43.05 - $34.78) / $34.78 = 23.8% $3.88 × 12x P/E
Fair Value $53.82 54.7% upside ($53.82 - $34.78) / $34.78 = 54.7% $3.88 × 15x P/E
Bull Case $64.58 85.7% upside ($64.58 - $34.78) / $34.78 = 85.7% $3.88 × 18x P/E

Adjust Assumptions

15.0x
3.88$

Key Value Driver

Normalized P/E multiple (15x base case)

Implied Market Multiple 9.0x

Plain-Language Summary

Our base-case estimate uses a valuation based on adjusted earnings per share and a normalized price-to-earnings multiple. We then blend that result with the average analyst price target of $40.67 from 25 analysts, using a 25% weight on analyst consensus. That produces an estimated intrinsic value of $53.82 per share.

Warnings

The company's reported profits differ from official accounting profits by 192%. Check what costs are being left out of the adjusted number.
The company pays out 177% of its profits as dividends. That leaves little cushion — the dividend could be cut if business slows down.
Dividend-based valuation: $1375.76 (above our primary estimate by 2264%). Large gaps may signal the dividend doesn't reflect full earning power.
Wall Street's average price target is $40.67 (from 25 analysts). Our estimate is 43% above the consensus -- consider that gap carefully.

Key Risks

  • Growth DCF inappropriate — terminal value assumptions dominate
  • EV/EBITDA misleading for regulated businesses where capex is mandated
  • Regulatory risk is a fat tail not visible in normal multiples