Corporate IT spending trends and enterprise technology project budgets, particularly among Fortune 1000 clients
Federal government IT budget allocations and contract award timing, especially defense and intelligence spending
Bill rate vs. pay rate spreads (gross margin compression or expansion based on labor market tightness)
Consultant utilization rates and average hours worked per contractor (demand signal)
high - IT staffing is highly cyclical and among the first expenses corporations cut during economic slowdowns. Demand correlates directly with corporate confidence, technology project spending, and digital transformation initiatives. The -2.9% revenue decline and -35% net income drop reflect current weakness in enterprise IT budgets. Federal segment provides partial buffer but commercial staffing (70% of revenue) is extremely GDP-sensitive.
Rising interest rates negatively impact ASGN through multiple channels: (1) higher corporate borrowing costs reduce client IT budgets and discretionary project spending, (2) technology sector weakness (primary client base) as growth stocks underperform in high-rate environments, (3) increased debt service costs on ASGN's 0.65x debt/equity balance sheet, and (4) valuation multiple compression as investors demand higher returns. The 0.5x P/S ratio suggests the market is pricing in continued rate-driven headwinds.
Offshore competition and labor arbitrage as clients shift IT work to lower-cost geographies (India, Eastern Europe), compressing domestic staffing demand and bill rates
Automation and AI-driven productivity gains reducing demand for contract IT labor, particularly in routine software development, testing, and infrastructure roles
Direct hiring trends as companies build internal talent acquisition capabilities and reduce reliance on third-party staffing intermediaries
value - The 0.5x P/S, 1.0x P/B, and 7.2x EV/EBITDA valuations with 15% FCF yield attract deep value investors betting on cyclical recovery in IT spending. The -39.5% one-year return and depressed multiples suggest the market is pricing in structural challenges, creating potential for contrarian value plays if commercial IT spending stabilizes. Not suitable for growth or dividend investors given negative revenue growth and likely modest dividend yield.
Trend
-35.2% vs SMA 50 · -52.4% vs SMA 200
Momentum
Distribution pattern detected. More selling days than accumulation over the past 20 sessions. Not a conducive environment for a squeeze.
Based on volume distribution analysis. Direct short interest data (short float %, days to cover) is not available in current data sources.
ANALYST ESTIMATES
Analyst consensus estimates · Actuals replace estimates as reported
| Year | Revenue Est. | Rev Gth | EPS Est. | EPS Gth | Range | Analysts |
|---|---|---|---|---|---|---|
FY2023 | $4.4B $4.3B–$4.4B | — | $4.37 | — | ±1% | Moderate3 |
FY2024 | $4.1B $4.1B–$4.1B | ▼ -5.9% | $5.16 | ▲ +18.2% | ±0% | Moderate4 |
FY2025 | $4.0B $3.9B–$4.0B | ▼ -3.4% | $4.58 | ▼ -11.3% | ±0% | Moderate4 |
INSTITUTIONAL OWNERSHIP
ASGN News
About
asgn incorporated provides professional staffing and it solutions in the technology, digital, creative, engineering and life sciences fields across commercial and government sectors in the united states and internationally. the company operates through apex, oxford, and ecs segments. the apex segment offers technology, digital, creative, scientific, and engineering professionals for contract, contract-to-hire, and permanent placement positions to fortune 1000 and mid-market clients. the oxford segment provides hard-to-find technology, digital, engineering, and life sciences staffing and consulting services in various skill and geographic markets. the ecs segment delivers advanced solutions in cloud, cyber security, artificial intelligence, machine learning, application and it modernization, and science and engineering. the company was formerly known as on assignment, inc. and changed its name to asgn incorporated in april 2018. asgn incorporated was founded in 1985 and is headquartered
| Symbol | Price | Day % | Mkt Cap↓ | P/E | Rev Grw | Margin | ELO |
|---|---|---|---|---|---|---|---|
ASGN◀ | $20.96 | +0.00% | $895M | — | — | — | 1500 |
| $225.32 | -4.42% | $5.5T | 45.6 | +6547.4% | 5560.3% | 1502 | |
| $300.23 | +0.68% | $4.4T | — | — | — | 1482 | |
| $421.92 | +3.05% | $3.1T | 25.0 | +1493.2% | 3614.6% | 1461 | |
| $425.19 | -3.32% | $2.0T | 80.7 | +2387.4% | 3619.8% | 1501 | |
| $724.66 | -6.62% | $817.2B | 33.8 | +4885.1% | 2284.5% | 1528 | |
| $424.10 | -5.69% | $691.5B | 138.6 | +3433.8% | 1251.5% | 1516 | |
| Sector avg | — | -2.33% | — | 64.7 | +3749.4% | 3266.1% | 1499 |