Adecco stock fell 0.50 percent on October 5 as margins stay key

Published on 10/05/2026 at 20:39 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adecco stock was last at CHF 23.68 on October 5, 2026, while Q2 organic revenue rose 5.6 percent. Jefferies raised its target to CHF 20.50.

Adecco, CH0012138605, Illustration mit AI erstellt.

Adecco stock (ISIN CH0012138605) was last at CHF 23.68 on SIX on October 5, 2026, down 0.50 percent from the previous close. The market is weighing Q2 growth against the staffing group's still-thin margins and the next results date.

Q2 growth improves profitability

In the Q2 2026 earnings call published August 6, 2026, Yahoo Finance reported that Adecco Group delivered 5.6 percent organic revenue growth year over year on a 20-day adjusted basis. Adjusted EBITA excluding one-offs reached EUR 165 million, up 21 percent year over year on an organic constant-currency basis.

The improvement was broad but uneven. According to Yahoo Finance, adjusted EPS increased 31 percent year over year, while the EBITDA margin excluding one-offs rose 30 basis points to 2.8 percent. The same call showed gross margin at 18.6 percent, 20 basis points below the prior-year level but better than the 40-basis-point decline in Q1 2026.

Analyst target remains below market

Jefferies upgraded Adecco to Hold from Underperform and raised its price target to CHF 20.50 from CHF 13.50 on September 10, 2026, as revised estimates moved broadly in line with consensus, according to Yahoo Finance. The new target is below the October 5 SIX price, keeping the brokerage cautious despite the upgrade.

The broader analyst picture is balanced. MarketScreener lists a Hold consensus from 17 analysts, with an average target of EUR 26.10, a high target of EUR 36.62 and a low target of EUR 19.20. These consensus figures use EUR, while the primary SIX quotation is in CHF, so the target spread is not directly comparable with the SIX price.

Q3 date sets the next checkpoint

The next company checkpoint is scheduled for November 12, 2026, when Adecco is due to publish its Q3 2026 results, according to MarketScreener. That report will show whether the sequential margin improvement described in the Q2 call continues into the second half.

Stock remains below yearly high

Adecco was last at CHF 23.68 on SIX at 5:30 p.m. CEST on October 5, 2026. Its 52-week range was CHF 14.54 to CHF 26.22, while market capitalization stood at CHF 4.1 billion on the same date.