Barrett Business Services (BBSI) financial statements
Barrett Business Services reported revenue of $1.2B in fiscal 2025, up 4.4% a year over 9 years.
Net income was $54M and the operating margin 5.0%, against 3.4% in 2016.
Free cash flow was $47M, and the company returned $8M in dividends and $42M in net buybacks.
The diluted share count fell 11% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Barrett Business Services's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $841M | $920M | $941M | $942M | $881M | $955M | $1.1B | $1.1B | $1.1B | $1.2B |
| Cost of revenue | $695M | $762M | $754M | $734M | $698M | $751M | $819M | $827M | $891M | $979M |
| Gross profit | $146M | $159M | $187M | $208M | $183M | $205M | $235M | $243M | $253M | $261M |
| Selling, general and admin | $113M | $123M | $145M | $154M | $142M | $155M | $170M | $175M | $186M | $190M |
| Operating income | $29M | $30M | $37M | $50M | $36M | $44M | $59M | $61M | $60M | $62M |
| Interest expense | $807,000 | $313,000 | $1M | $2M | $1M | $372,000 | $141,000 | $166,000 | $178,000 | $171,000 |
| Pre-tax income | $26M | $34M | $45M | $61M | $43M | $51M | $65M | $69M | $71M | $71M |
| Income tax | $7M | $9M | $7M | $13M | $9M | $13M | $18M | $18M | $18M | $17M |
| Net income | $19M | $25M | $38M | $48M | $34M | $38M | $47M | $51M | $53M | $54M |
| EPS (diluted) | $0.64 | $0.83 | $1.25 | $1.57 | $1.10 | $1.25 | $1.64 | $1.85 | $1.98 | $2.08 |
| Diluted shares | 30M | 30M | 31M | 31M | 31M | 30M | 29M | 27M | 27M | 26M |
| Gross margin | 17.3% | 17.2% | 19.8% | 22.1% | 20.8% | 21.4% | 22.3% | 22.7% | 22.1% | 21.0% |
| Operating margin | 3.4% | 3.3% | 3.9% | 5.4% | 4.1% | 4.6% | 5.6% | 5.7% | 5.2% | 5.0% |
| Net margin | 2.2% | 2.7% | 4.0% | 5.1% | 3.8% | 4.0% | 4.5% | 4.7% | 4.6% | 4.4% |
Balance sheet
Fiscal years, from Barrett Business Services's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $56M | $61M | $36M | $127M | $170M | $166M | $160M | $152M | $122M | $157M |
| Receivables | $126M | $137M | $152M | $164M | $119M | $156M | $164M | $171M | $235M | $249M |
| Total current assets | $235M | $308M | $322M | $424M | $408M | $407M | $454M | $448M | $475M | $525M |
| Property, plant and equipment | $27M | $25M | $25M | $32M | $35M | $36M | $46M | $50M | $57M | $67M |
| Goodwill | $48M | $48M | $48M | $48M | $48M | $48M | $48M | $48M | $48M | $48M |
| Total assets | $582M | $682M | $756M | $861M | $775M | $747M | $687M | $722M | $746M | $779M |
| Total current liabilities | $275M | $322M | $327M | $342M | $291M | $315M | $335M | $343M | $359M | $406M |
| Long-term debt | $4M | $4M | $4M | $4M | $4M | — | — | — | — | — |
| Total liabilities | $512M | $594M | $637M | $689M | $577M | $538M | $509M | $522M | $524M | $538M |
| Shareholders' equity | $70M | $89M | $119M | $172M | $198M | $209M | $178M | $199M | $221M | $241M |
| Net debt | -$46M | -$56M | -$31M | -$41M | -$65M | -$69M | -$91M | -$71M | -$55M | -$95M |
Cash flow
Fiscal years, from Barrett Business Services's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $80M | $113M | $70M | $77M | -$28M | -$15M | $28M | $67M | $10M | $66M |
| Capital spending | $7M | $4M | $6M | $11M | $9M | $7M | $16M | $12M | $14M | $19M |
| Free cash flow | $73M | $109M | $64M | $66M | -$37M | -$22M | $12M | $55M | -$4M | $47M |
| Stock-based compensation | $3M | $4M | $6M | $7M | $3M | $5M | $7M | $8M | $9M | $10M |
| Dividends paid | $6M | $7M | $7M | $8M | $9M | $9M | $9M | $8M | $8M | $8M |
| Share buybacks (net) | — | — | — | — | -$8M | -$17M | -$47M | -$34M | -$29M | -$42M |
| Net borrowing | -$15M | -$221,000 | -$220,000 | -$221,000 | -$220,000 | -$221,000 | -$4M | — | — | — |
| Free cash flow margin | 8.7% | 11.9% | 6.8% | 7.0% | -4.1% | -2.3% | 1.1% | 5.2% | -0.4% | 3.8% |
| Dividends per share | $0.22 | $0.24 | $0.24 | $0.27 | $0.30 | $0.30 | $0.29 | $0.30 | $0.30 | $0.31 |
Questions
What was Barrett Business Services's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Barrett Business Services generate?
$47M in fiscal 2025 (operating cash flow minus capital spending).
From Barrett Business Services's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.