Heidrick & Struggles Intl Inc Financials
Heidrick & Struggles Intl Inc (HSII) reported $1.2B in revenue over the twelve months to Sep 30, 2025, up 11.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue recovery is being absorbed by costs, while cash flow swings far more than reported earnings.
In FY2024, operating cash flow reached$150M while net income was only$9M , reversing FY2023's operating cash outflow of$27M despite positive earnings. That divergence points to working-capital or other non-earnings timing effects driving cash generation, so accounting profit alone understates the year's cash movement.
The business added
Cash generation improved sharply, with free cash flow moving from
Financial Health Signals
Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Heidrick & Struggles Intl Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Heidrick & Struggles Intl Inc has an operating margin of 0.7%, meaning the company retains $1 of operating profit per $100 of revenue. This results in a moderate score of 53/100, indicating healthy but not exceptional operating efficiency. This is down from 7.2% the prior year.
Heidrick & Struggles Intl Inc's revenue grew 7.2% year-over-year to $1.1B, a solid pace of expansion. This earns a growth score of 36/100.
Heidrick & Struggles Intl Inc has a moderate D/E ratio of 1.64. This balance of debt and equity financing earns a leverage score of 34/100.
Heidrick & Struggles Intl Inc's current ratio of 1.60 indicates adequate short-term liquidity, earning a score of 45/100. The company can meet its near-term obligations, though with limited headroom.
Heidrick & Struggles Intl Inc has a free cash flow margin of 11.1%, earning a moderate score of 54/100. The company generates positive cash flow after capital investments, but with room for improvement.
Heidrick & Struggles Intl Inc's ROE of 1.9% shows moderate profitability relative to equity, earning a score of 57/100. This is down from 11.8% the prior year.
Heidrick & Struggles Intl Inc scores 2.48, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Heidrick & Struggles Intl Inc passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Heidrick & Struggles Intl Inc generates $17.24 in operating cash flow ($150.4M OCF vs $8.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Heidrick & Struggles Intl Inc generated $1.1B in revenue in fiscal year 2024. This represents an increase of 7.2% from the prior year.
Heidrick & Struggles Intl Inc's EBITDA was $26.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 71.9% from the prior year.
Heidrick & Struggles Intl Inc reported $8.7M in net income in fiscal year 2024. This represents a decrease of 84.0% from the prior year.
Heidrick & Struggles Intl Inc earned $0.41 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 84.4% from the prior year.
Cash & Balance Sheet
Heidrick & Struggles Intl Inc generated $124.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 408.6% from the prior year.
Heidrick & Struggles Intl Inc held $515.6M in cash as of fiscal year 2024; long-term debt is not reported for that period.
Heidrick & Struggles Intl Inc paid $0.60 per share in dividends in fiscal year 2024. That is unchanged from the prior year.
Margins & Returns
Heidrick & Struggles Intl Inc's gross margin was 89.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the prior year.
Heidrick & Struggles Intl Inc's operating margin was 0.7% in fiscal year 2024, reflecting core business profitability. This is down 6.6 percentage points from the prior year.
Heidrick & Struggles Intl Inc's net profit margin was 0.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 4.5 percentage points from the prior year.
Heidrick & Struggles Intl Inc's ROE was 1.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 9.8 percentage points from the prior year.
Capital Allocation
Heidrick & Struggles Intl Inc invested $23.1M in research and development in fiscal year 2024. This represents an increase of 1.6% from the prior year.
Heidrick & Struggles Intl Inc repurchased no shares in fiscal year 2024. This represents a decrease of 100.0% from the prior year.
Heidrick & Struggles Intl Inc invested $26.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 95.9% from the prior year.
HSII Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $327.9M+1.9% | $321.9M+12.0% | $287.4M+2.3% | $280.9M-0.7% | $282.8M0.0% | $282.9M+5.1% | $269.1M+4.5% | $257.4M |
| Cost of Revenue | $37.6M+8.8% | $34.6M+15.1% | $30.1M-2.4% | $30.8M-0.8% | $31.0M+4.5% | $29.7M+8.3% | $27.4M-9.2% | $30.2M |
| Gross Profit | $290.3M+1.0% | $287.3M+11.6% | $257.4M+2.9% | $250.1M-0.7% | $251.8M-0.6% | $253.2M+4.8% | $241.7M+6.4% | $227.2M |
| R&D Expenses | $6.4M+6.3% | $6.0M-5.6% | $6.4M+5.6% | $6.1M+6.5% | $5.7M+1.4% | $5.6M-1.9% | $5.7M-4.0% | $6.0M |
| SG&A Expenses | $41.8M-1.0% | $42.2M+1.8% | $41.4M+5.0% | $39.4M-0.8% | $39.7M-14.5% | $46.5M+12.3% | $41.4M-6.2% | $44.1M |
| Operating Income | $19.2M-24.1% | $25.2M+55.5% | $16.2M+168.6% | -$23.6M-223.9% | $19.1M+556.2% | -$4.2M-125.7% | $16.3M-25.6% | $21.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | $4.1M+3.4% | $4.0M |
| Income Tax | $8.8M-12.3% | $10.1M+133.6% | $4.3M+98.3% | $2.2M-65.3% | $6.3M+36.8% | $4.6M-48.5% | $8.9M-12.1% | $10.1M |
| Net Income | $17.6M-16.3% | $21.1M+58.4% | $13.3M+188.8% | -$15.0M-201.0% | $14.8M+387.6% | -$5.2M-136.8% | $14.0M-5.5% | $14.9M |
| EPS (Diluted) | $0.83-16.2% | $0.99+59.7% | $0.62+187.3% | -$0.71-200.0% | $0.71+384.0% | -$0.25-137.3% | $0.67-5.6% | $0.71 |
HSII Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B+10.8% | $1.1B+11.5% | $1.0B-14.3% | $1.2B+4.2% | $1.1B+12.7% | $1.0B+5.3% | $965.5M-15.4% | $1.1B |
| Current Assets | $823.6M+17.7% | $699.6M+17.6% | $595.1M-23.0% | $773.0M+13.2% | $683.1M+21.2% | $563.4M+10.0% | $512.0M-26.1% | $693.2M |
| Cash & Equivalents | $454.6M+115.3% | $211.2M-0.4% | $211.9M-58.9% | $515.6M+41.9% | $363.4M+91.4% | $189.9M-24.9% | $252.8M-38.7% | $412.6M |
| Accounts Receivable | $204.1M-3.1% | $210.6M+15.6% | $182.1M+35.6% | $134.3M-27.9% | $186.3M-0.5% | $187.1M+8.2% | $173.0M+29.9% | $133.1M |
| Goodwill | $142.5M-0.1% | $142.6M+2.3% | $139.4M+1.2% | $137.9M-25.6% | $185.4M+1.2% | $183.2M-8.5% | $200.1M-1.1% | $202.3M |
| Total Liabilities | $755.0M+16.4% | $648.6M+16.1% | $558.6M-24.6% | $741.4M+11.9% | $662.5M+19.3% | $555.4M+11.8% | $496.7M-26.9% | $679.3M |
| Current Liabilities | $539.0M+25.4% | $429.9M+23.0% | $349.5M-27.6% | $483.0M+22.2% | $395.4M+28.9% | $306.7M+21.8% | $251.9M-42.6% | $438.7M |
| Total Equity | $509.2M+3.4% | $492.5M+5.9% | $465.1M+2.7% | $452.8M-6.3% | $483.3M+4.8% | $460.9M-1.7% | $468.8M+1.4% | $462.3M |
| Retained Earnings | $248.2M+6.2% | $233.8M+8.3% | $216.0M+4.9% | $205.9M-8.2% | $224.2M+5.5% | $212.5M-3.8% | $220.9M+5.1% | $210.1M |
Not reported in any period shown, so not listed: Inventory, Long-Term Debt.
HSII Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $134.7M+96.3% | $68.6M+129.5% | -$232.2M-231.4% | $176.8M+54.4% | $114.5M+83.2% | $62.5M+130.7% | -$203.4M-232.2% | $153.8M |
| Capital Expenditures | $5.5M+40.8% | $3.9M+42.9% | $2.7M-16.5% | $3.3M-49.7% | $6.5M-37.3% | $10.4M+67.9% | $6.2M+61.9% | $3.8M |
| Free Cash Flow | $129.2M+99.6% | $64.7M+127.5% | -$235.0M-235.4% | $173.5M+60.6% | $108.0M+107.1% | $52.2M+124.9% | -$209.6M-239.7% | $150.0M |
| Investing Cash Flow | $111.8M+244.7% | -$77.3M-5.7% | -$73.1M-1351.2% | -$5.0M-109.1% | $55.6M+146.4% | -$119.9M-319.2% | $54.7M+265.5% | -$33.1M |
| Financing Cash Flow | -$3.6M+13.6% | -$4.1M+35.8% | -$6.4M-93.5% | -$3.3M-2.1% | -$3.3M+19.7% | -$4.1M+33.1% | -$6.1M-444.6% | -$1.1M |
| Dividends Paid | $3.3M+0.2% | $3.3M+1.7% | $3.2M-3.6% | $3.3M+3.2% | $3.2M+0.9% | $3.2M-1.1% | $3.2M+2.0% | $3.2M |
| Share Buybacks | N/A | N/A | N/A | $0 | $0 | N/A | N/A | $0 |
HSII Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 88.5%-0.7pp | 89.3%-0.3pp | 89.5%+0.5pp | 89.0%0.0pp | 89.0%-0.5pp | 89.5%-0.3pp | 89.8%+1.5pp | 88.3% |
| Operating Margin | 5.8%-2.0pp | 7.8%+2.2pp | 5.7%+14.1pp | -8.4%-15.2pp | 6.8%+8.2pp | -1.5%-7.5pp | 6.0%-2.4pp | 8.5% |
| Net Margin | 5.4%-1.2pp | 6.6%+1.9pp | 4.6%+10.0pp | -5.3%-10.6pp | 5.2%+7.1pp | -1.8%-7.0pp | 5.2%-0.6pp | 5.8% |
| Return on Equity | 3.5%-0.8pp | 4.3%+1.4pp | 2.9%+6.2pp | -3.3%-6.4pp | 3.1%+4.2pp | -1.1%-4.1pp | 3.0%-0.2pp | 3.2% |
| Return on Assets | 1.4%-0.4pp | 1.8%+0.5pp | 1.3%+2.6pp | -1.3%-2.5pp | 1.3%+1.8pp | -0.5%-2.0pp | 1.5%+0.2pp | 1.3% |
| Current Ratio | 1.53-0.1x | 1.63-0.1x | 1.70+0.1x | 1.60-0.1x | 1.73-0.1x | 1.84-0.2x | 2.03+0.5x | 1.58 |
| Debt-to-Equity | 1.48+0.2x | 1.32+0.1x | 1.20-0.4x | 1.64+0.3x | 1.37+0.2x | 1.20+0.1x | 1.06-0.4x | 1.47 |
| FCF Margin | 39.4%+19.3pp | 20.1%+101.8pp | -81.7%-143.5pp | 61.8%+23.6pp | 38.2%+19.8pp | 18.4%+96.3pp | -77.9%-136.2pp | 58.3% |
Similar Companies
Where Heidrick & Struggles Intl Inc Ranks
Frequently Asked Questions
What is Heidrick & Struggles Intl Inc's annual revenue?
Heidrick & Struggles Intl Inc (HSII) reported $1.1B in total revenue for fiscal year 2024. This represents a 7.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Heidrick & Struggles Intl Inc's revenue growing?
Heidrick & Struggles Intl Inc (HSII) revenue grew by 7.2% year-over-year, from $1.0B to $1.1B in fiscal year 2024.
Is Heidrick & Struggles Intl Inc profitable?
Yes, Heidrick & Struggles Intl Inc (HSII) reported a net income of $8.7M in fiscal year 2024, with a net profit margin of 0.8%.
What is Heidrick & Struggles Intl Inc's EBITDA?
Heidrick & Struggles Intl Inc (HSII) had EBITDA of $26.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Heidrick & Struggles Intl Inc's gross margin?
Heidrick & Struggles Intl Inc (HSII) had a gross margin of 89.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Heidrick & Struggles Intl Inc's operating margin?
Heidrick & Struggles Intl Inc (HSII) had an operating margin of 0.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Heidrick & Struggles Intl Inc's net profit margin?
Heidrick & Struggles Intl Inc (HSII) had a net profit margin of 0.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Heidrick & Struggles Intl Inc pay dividends?
Yes, Heidrick & Struggles Intl Inc (HSII) paid $0.60 per share in dividends during fiscal year 2024.
What is Heidrick & Struggles Intl Inc's return on equity (ROE)?
Heidrick & Struggles Intl Inc (HSII) has a return on equity of 1.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Heidrick & Struggles Intl Inc's free cash flow?
Heidrick & Struggles Intl Inc (HSII) generated $124.1M in free cash flow during fiscal year 2024. This represents a 408.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Heidrick & Struggles Intl Inc's operating cash flow?
Heidrick & Struggles Intl Inc (HSII) generated $150.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Heidrick & Struggles Intl Inc's total assets?
Heidrick & Struggles Intl Inc (HSII) had $1.2B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Heidrick & Struggles Intl Inc's capital expenditures?
Heidrick & Struggles Intl Inc (HSII) invested $26.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Heidrick & Struggles Intl Inc spend on research and development?
Heidrick & Struggles Intl Inc (HSII) invested $23.1M in research and development during fiscal year 2024.
What is Heidrick & Struggles Intl Inc's current ratio?
Heidrick & Struggles Intl Inc (HSII) had a current ratio of 1.60 as of fiscal year 2024, which is generally considered healthy.
What is Heidrick & Struggles Intl Inc's debt-to-equity ratio?
Heidrick & Struggles Intl Inc (HSII) had a debt-to-equity ratio of 1.64 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Heidrick & Struggles Intl Inc's return on assets (ROA)?
Heidrick & Struggles Intl Inc (HSII) had a return on assets of 0.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Heidrick & Struggles Intl Inc's Altman Z-Score?
Heidrick & Struggles Intl Inc (HSII) has an Altman Z-Score of 2.48, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Heidrick & Struggles Intl Inc's Piotroski F-Score?
Heidrick & Struggles Intl Inc (HSII) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Heidrick & Struggles Intl Inc's earnings high quality?
Heidrick & Struggles Intl Inc (HSII) has an earnings quality ratio of 17.24x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Heidrick & Struggles Intl Inc?
Heidrick & Struggles Intl Inc (HSII) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.