Value Sense
BBSI
Barrett Business Services, Inc. (BBSI)
Last Price$39.61.2%
Market Cap$1,026.1M
LTM Revenue
$1,144.5M
+7.0% YoY
LTM Net Income
$53.0M
+4.7% YoY
LTM Net Debt
($131.6M)
Net Debt to FCF - 32.3x
LTM Free Cash Flow (FCF)
($4,073.0K)
(0.4% margin)

BBSI Income Statement

BBSI Income Statement Overview

Annual
Quarterly
LTM
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Dec'24
Revenue
$1,144.5M 7.0% YoY
Gross profit
$253.3M 4.4% YoY
22.1% margin
Cost of revenue
$891.3M 7.8% YoY
Operating income
$59.8M (1.4%) YoY
5.2% margin
Other: $11.2M
Net interest: $178.0K
Operating expenses
$193.5M 6.4% YoY
Pre-tax income
$70.8M 2.7% YoY
6.2% margin
Net income
$53.0M 4.7% YoY
4.6% margin
Income tax
$17.8M
25.2% tax rate
SG&A
$185.9M 6.3% YoY
16.2% of revenue

BBSI Income statement key metrics

Annual
Quarterly
LTM

Revenue

$1,144.5M +7.0% YoY

Operating Income

$59.8M -1.4% YoY

Net Income

$53.0M +4.7% YoY

BBSI Balance Sheet

BBSI Balance Sheet Overview

Annual
Quarterly
LTM
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Dec'24
Assets
Liabilities
Total assets
$745.5M
Current assets ($475.4M, 63.8% of total)
Cash & ST investments
$153.1M (20.5%)
Accounts receivables
$234.5M (31.5%)
Other current assets
$87.9M (11.8%)
Non-current assets ($270.1M, 36.2% of total)
Other non-current assets
$193.0M (25.9%)
Financial position
Net Debt
($131.6M)
$153.1M$21.4M
Cash & Short-term Investments
Total Debt
Quick ratio
1.1x
Net Debt to Free Cash Flow
32.3x
Debt to Equity ratio
9.7%

BBSI Balance Sheet Metrics

Annual
Quarterly
LTM

Assets

$745.5M +0.0% YoY

Liabilities

$524.1M -4.1% YoY

Shareholder's Equity

$221.4M +11.2% YoY

BBSI Cash Flow Statement

BBSI Cash Flow Statement Overview

Annual
Quarterly
LTM
Dec'15
Dec'16
Dec'17
Dec'18
Dec'19
Dec'20
Dec'21
Dec'22
Dec'23
Dec'24
Cash Beginning of PeriodOperating Cash FlowInvesting Cash FlowFinancing Cash FlowForex Changes on CashCash End of Period$74.8M$10.1M$38.8M($41.1M)$0.0$82.6M

BBSI Cash Flow Statement key metrics

Annual
Quarterly
LTM

Operating Cash Flow (OCF)

$10.1M -85.0% YoY

Capital Expenditure (CAPEX)

($14.2M) +19.7% YoY

Free Cash Flow (FCF)

($4,073.0K) N/A YoY

BBSI Financials

USD
Millions
Billions
Annual
Quarterly
Trailing
Key stats
Income statement
Balance sheet
Cash Flow Statement
Valuation
Ratios
Per share
Per employee
Dividends & Yields
Dec'05Dec'06Dec'07Dec'08Dec'09Dec'10Dec'11Dec'12Dec'13Dec'14Dec'15Dec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24
Revenue
% growth
231.4
18.7%
259.2
12.0%
289.2
11.6%
280.5
(3.0%)
236.5
(15.7%)
273.1
15.5%
314.9
15.3%
402.7
27.9%
532.8
32.3%
636.2
19.4%
740.8
16.5%
840.6
13.5%
920.4
9.5%
940.7
2.2%
942.3
0.2%
880.8
(6.5%)
955.2
8.4%
1,054.3
10.4%
1,069.3
1.4%
1,144.5
7.0%
Cost of Goods Sold (COGS)185.6203.6230.3230.9210.9228.3271.4335.9446.3605.8611.4695.1761.9754.0734.1697.9750.7819.5826.8891.3
Gross Profit
% margin
45.8
19.8%
55.6
21.4%
58.9
20.4%
49.6
17.7%
25.6
10.8%
44.8
16.4%
43.5
13.8%
66.7
16.6%
86.5
16.2%
30.4
4.8%
129.5
17.5%
145.5
17.3%
158.5
17.2%
186.7
19.8%
208.3
22.1%
182.9
20.8%
204.5
21.4%
234.8
22.3%
242.5
22.7%
253.3
22.1%
Operating Expenses26.632.936.138.235.136.839.547.962.176.393.0116.6128.6149.7157.8146.8160.6175.9181.9193.5
Research & Development Expenses (R&D)0.00.00.00.00.00.00.00.00.00.00.00.00.00.40.51.42.22.80.00.0
Selling, General & Administrative Expenses (SG&A)25.731.634.736.733.535.438.246.560.173.890.2113.3123.1145.5153.9141.9155.3169.6174.8185.9
Operating Income
% margin
19.2
8.3%
22.6
8.7%
22.8
7.9%
11.4
4.1%
(9.5)
(4.0%)
8.0
2.9%
3.9
1.2%
18.8
4.7%
24.4
4.6%
(45.9)
(7.2%)
36.4
4.9%
28.9
3.4%
29.9
3.3%
37.0
3.9%
50.5
5.4%
36.1
4.1%
43.9
4.6%
59.0
5.6%
60.7
5.7%
59.8
5.2%
Interest Income0.90.00.00.00.00.00.00.70.70.60.00.00.00.012.58.07.26.50.00.0
Interest Expense0.10.10.00.00.00.00.00.80.20.22.00.80.31.11.81.20.40.10.20.2
Pre-tax Income19.925.525.910.0(7.9)10.015.219.524.9(45.3)35.125.634.444.861.142.650.765.369.070.8
Income Tax
% effective tax rate
7.4
37.3%
9.2
35.9%
9.1
35.2%
3.7
37.3%
(3.1)
39.5%
2.6
25.6%
0.8
5.5%
6.3
32.5%
7.0
28.2%
(18.3)
40.3%
9.7
27.5%
6.8
26.5%
9.2
26.8%
6.7
15.0%
12.8
21.0%
8.8
20.7%
12.6
24.8%
18.0
27.6%
18.4
26.6%
17.8
25.2%
Net Income
% margin
12.5
5.4%
16.3
6.3%
16.8
5.8%
6.3
2.2%
(4.8)
(2.0%)
7.4
2.7%
14.3
4.5%
13.1
3.3%
17.9
3.4%
(27.1)
(4.3%)
25.5
3.4%
18.8
2.2%
25.2
2.7%
38.1
4.0%
48.3
5.1%
33.8
3.8%
38.1
4.0%
47.3
4.5%
50.6
4.7%
53.0
4.6%
EPS0.320.370.370.14(0.11)0.180.360.430.63(0.95)0.890.650.871.301.621.121.261.661.882.03
Diluted EPS0.300.350.360.14(0.11)0.180.350.420.61(0.95)0.870.640.831.241.571.101.251.641.851.98
EBITDA
% margin
20.2
8.7%
21.0
8.1%
21.1
7.3%
14.4
5.1%
(6.2)
(2.6%)
9.3
3.4%
16.5
5.2%
20.9
5.2%
26.5
5.0%
(40.0)
(6.3%)
39.3
5.3%
32.2
3.8%
35.4
3.8%
41.2
4.4%
73.8
7.8%
55.9
6.3%
64.4
6.7%
78.6
7.5%
76.3
7.1%
78.2
6.8%