
Barrett Business Services, Inc.
NASDAQ•BBSI
CEO: Mr. Gary Edward Kramer
Sector: Industrials
Industry: Staffing & Employment Services
Listing Date: 1993-06-11
Barrett Business Services, Inc. provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers compensation coverage, and other administration functions for the client's existing workforce. The company provides staffing and recruiting services, such as on-demand or short-term staffing assignment, contract staffing, direct placement, and long-term or indefinite-term on-site management services. It serves electronics manufacturers, light-manufacturing industries, agriculture-based companies, transportation and shipping enterprises, food processors, telecommunications companies, public utilities, general contractors in various construction-related fields, restaurant franchises, and professional services firms. Barrett Business Services, Inc. was incorporated in 1965 and is headquartered in Vancouver, Washington.
Contact Information
Market Cap
$941.35M
P/E (TTM)
17.1
25.2
Dividend Yield
0.9%
52W High
$49.65
52W Low
$33.01
52W Range
Rank27Top 10.6%
5.8
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 5.8 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024
Financial Dashboard
Q3 2025 Data
Revenue
$318.95M+8.38%
4-Quarter Trend
EPS
$0.80+6.67%
4-Quarter Trend
FCF
$34.07M-906.08%
4-Quarter Trend
2025 Q3 Earnings Highlights
Key Highlights
Nine Month Revenue Growth Total revenues reached $919.2M for nine months, reflecting 9.5% growth driven by PEO services revenue up 11.0%.
Net Income Improvement Nine month net income totaled $38.1M, increasing from $36.2M; diluted EPS improved to $1.45 from $1.35.
Worksite Employee Growth Average WSEs grew 7.2% for nine months, supporting PEO revenue expansion; ending WSEs increased 5.8% in Q3.
Strong Liquidity Position Total assets grew to $777.9M by September 30, 2025; cash, cash equivalents, and restricted cash totaled $66.0M.
Risk Factors
Gross Margin Compression Nine month gross margin percentage fell to 20.9% from 21.6% due to changes in revenue mix and benefit costs.
IRS Wage Credit Examination IRS examination seeks to disallow credits, potentially resulting in $8.0M taxes plus $5.2M penalties and interest exposure.
Increased Benefit Cost Ratios Payroll taxes and benefits expense ratio rose to 58.4% of revenue (9M period) due to higher tax rates and benefit adoption.
Trade Policy Client Impact Tariffs and trade restrictions may raise client costs, potentially decreasing demand for services, straining client liquidity and payments.
Outlook
Credit Facility Extension Revolving credit line maturity extended from July 2026 to August 2028; unused commitment fee reduced to 0.30%.
New Stock Repurchase Plan Board authorized $100.0M common stock repurchase program over two years starting August 4, 2025; $7.5M used this quarter.
PEO Service Strategy Focus Strategy emphasizes aligning local teams with business owners through Tiers 1, 2, and 3 to drive value and revenue growth.
Tax Disclosure Adoption ASU 2023-09 regarding income tax disclosures will be adopted prospectively for the fiscal year beginning January 1, 2025.
Peer Comparison
Revenue (TTM)
$2.58B
$2.51B
$1.37B
Gross Margin (Latest Quarter)
57.9%
29.7%
CRAI27.4%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| ALGT | $1.57B | -5.3 | -35.9% | 214.9% |
| CRAI | $1.32B | 23.2 | 27.0% | 30.9% |
| GRC | $1.30B | 25.9 | 12.9% | 37.0% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
1.5%
Moderate Growth
4Q Net Income CAGR
7.1%
Profitability Improving
Cash Flow Stability
75%
Volatile Cash Flow
Research & Insights
Next earnings:Feb 25, 2026
EPS:$0.64
|Revenue:-
Reports
All Years
Form 10-Q - Q3 2025
Period End: Sep 30, 2025|Filed: Nov 6, 2025|Revenue: $318.95M+8.4%|EPS: $0.80+6.7%MeetForm 10-Q - Q2 2025
Period End: Jun 30, 2025|Filed: Aug 7, 2025|Revenue: $307.66M+10.0%|EPS: $0.72+12.5%BeatForm 10-Q - Q1 2025
Period End: Mar 31, 2025|Filed: May 8, 2025|Revenue: $292.57M+10.1%|EPS: $-0.04+669.2%BeatForm 10-K/A - FY 2024
Period End: Dec 31, 2024|Filed: Mar 3, 2025|Revenue: $1.14B+7.0%|EPS: $2.03+8.0%BeatForm 10-K - FY 2024
Period End: Dec 31, 2024|Filed: Feb 28, 2025|Refer to amended dataForm 10-Q - Q3 2024
Period End: Sep 30, 2024|Filed: Nov 7, 2024|Revenue: $294.28M+7.7%|EPS: $0.75+10.3%BeatForm 10-Q - Q2 2024
Period End: Jun 30, 2024|Filed: Aug 1, 2024|Revenue: $279.65M+5.7%|EPS: $0.64+1.6%BeatForm 10-Q - Q1 2024
Period End: Mar 31, 2024|Filed: May 2, 2024|Revenue: $265.78M+4.4%|EPS: $-0.01-117.3%Beat