BBSI
Barrett Business Services, Inc.
BBSI's fundamentals are mixed, but it looks expensive: trading at 25x earnings, above its usual 17x. Analysts expect earnings growth, though they disagree widely on how much.
BBSI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Strong |
BBSI's balance sheet is currently strong, and its revenue and profitability are stable, but its cash flow is under pressure.
BBSI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $16.58 | -47% |
| Fair | 17x | $20.68 | -33% |
| Forward | 19x | $31.03 | — |
| Expensive | 22x | $27.75 | -11% |
| Current | 25x | $31.03 | — |
Historical ranges are pointers, not guarantees.
BBSI's PE is in its expensive range at 25x. If earnings grow as analysts expect, today's price would be 19x next year's earnings, in its fair range.
BBSI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for BBSI, with profitability holding steady. However, they disagree widely on these estimates.
BBSI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.65 | +32% |
| Q3 2026 | $1.25 | -40% |
| Q2 2026 | $1.35 | -33% |
| Q1 2026 | $1.53 | -22% |
| Q4 2025 | $2.08 | +5.1% |
| Q3 2025 | $2.08 | +11% |
| Q2 2025 | $2.02 | +12% |
| Q1 2025 | $1.95 | +7.7% |
| Q4 2024 | $1.98 | +7% |
BBSI's earnings per share have fallen from their peak: $1.25 over the past year, against $2.08 in late 2025.
BBSI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $334.1M | +4.7% |
| Q2 2026 | $319.3M | +3.8% |
| Q1 2026 | $307M | +4.9% |
| Q4 2025 | $321.1M | +5.3% |
| Q3 2025 | $318.9M | +8.4% |
| Q2 2025 | $307.7M | +10% |
| Q1 2025 | $292.6M | +10% |
| Q4 2024 | $304.8M | +10% |
BBSI's revenue has grown year over year for 12 quarters in a row: $334M last quarter, up 4.7% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6.4% | -1.4 points |
| Q2 2026 | 4.8% | -2.7 points |
| Q1 2026 | -2.1% | -0.7 points |
| Q4 2025 | 5.8% | -1 points |
| Q3 2025 | 7.8% | -0.2 points |
| Q2 2025 | 7.5% | +0.2 points |
| Q1 2025 | -1.4% | +0.3 points |
| Q4 2024 | 6.8% | +0.2 points |
BBSI's operating margin was 6.4% last quarter, down 1.4 points from the same quarter a year ago.
BBSI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.6M | -37% |
| Q2 2026 | -$61.4M | -$3.2M |
| Q1 2026 | -$27.8M | -4089% |
| Q4 2025 | $70.6M | +41% |
| Q3 2025 | $34.1M | +$38.3M |
| Q2 2025 | -$58.2M | -$2M |
| Q1 2025 | $697K | -89% |
| Q4 2024 | $50.2M | -6.2% |
BBSI still generates free cash flow, though less than at its 2025 peak: $3M over the past year.
BBSI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.2% | -289K shares |
| 1 year | -6.7% | -1.8M shares |
| 3 years | -10% | -2.8M shares |
| 5 years | -20% | -6M shares |
| Available history | -21% | -6.4M shares |
BBSI has 24M diluted shares, down 6.7% from a year ago, with $62M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $9.1M |
| Q2 2026 | $15.2M |
| Q1 2026 | $20.3M |
| Q4 2025 | $17.1M |
| Q3 2025 | $7.5M |
| Q2 2025 | $8.1M |
| Q1 2025 | $9.2M |
| Q4 2024 | $7M |
BBSI spent $62M buying back its own shares over the past year, up 94% from the year before.
BBSI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.8x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.5x | Net Cash |
| Q4 2025 | -1.4x | Net Cash |
| Q3 2025 | -0.7x | Net Cash |
| Q2 2025 | -0.4x | Net Cash |
| Q1 2025 | -0.5x | Net Cash |
| Q4 2024 | -0.8x | Net Cash |
BBSI has more cash than debt.
BBSI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.7 | Neutral |
| Stochastic | 20.9 | Neutral |
BBSI's weekly RSI is 44 (neutral) and its Stochastic is 21 (neutral).
BBSI PE vs Industrials Sector
| Metric | BBSI | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 24x | 3.3% above |
| PE % | 98 | 58 | 40 pts above |
BBSI is trading at 25x earnings, in line with the Industrials sector's median of 24x.
BBSI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $31.6 | 1.7% below |
| 20 week MA | $34.0 | 8.8% below |
| 50 week MA | $33.3 | 6.9% below |
| 100 week MA | $37.8 | 18% below |
| 200 week MA | $33.2 | 6.5% below |
BBSI is in a downtrend: it's below all five of its weekly moving averages, and 6.5% below its 200-week average.
BBSI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $22.5 | $17.3 | -23% |
| 2021 | $17.3 | $17.3 | +0.1% |
| 2022 | $17.3 | $23.6 | +36% |
| 2023 | $23.6 | $29.0 | +23% |
| 2024 | $29.0 | $43.4 | +50% |
| 2025 | $43.4 | $36.2 | -16% |
| 2026 YTD | $36.2 | $31.0 | -14% |
BBSI has finished higher in four of the last six years. It's down 14% so far in 2026.