Bright Horizons Family Solutions (BFAM) financial statements
Bright Horizons Family Solutions reported revenue of $2.9B in fiscal 2025, up 7.2% a year over 9 years.
Net income was $193M and the operating margin 10.7%, against 12.6% in 2016.
Free cash flow was $259M, and the company returned $225M in net buybacks.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Bright Horizons Family Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B | $1.7B | $1.9B | $2.1B | $1.5B | $1.8B | $2.0B | $2.4B | $2.7B | $2.9B |
| Cost of revenue | $1.2B | $1.3B | $1.4B | $1.5B | $1.2B | $1.3B | $1.5B | $1.9B | $2.1B | $2.2B |
| Gross profit | $391M | $431M | $473M | $523M | $305M | $415M | $479M | $532M | $620M | $697M |
| Selling, general and admin | $164M | $189M | $202M | $221M | $220M | $257M | $289M | $327M | $355M | $376M |
| Operating income | $197M | $205M | $239M | $268M | $53M | $129M | $158M | $171M | $247M | $315M |
| Interest expense | $43M | $44M | $48M | — | — | — | $39M | $52M | $49M | $45M |
| Pre-tax income | $143M | $161M | $192M | $223M | $16M | $90M | $112M | $120M | $198M | $270M |
| Income tax | $48M | $4M | $34M | $42M | -$11M | $20M | $32M | $45M | $58M | $77M |
| Net income | $94M | $156M | $158M | $180M | $27M | $70M | $81M | $74M | $140M | $193M |
| EPS (diluted) | $1.55 | $2.59 | $2.66 | $3.05 | $0.45 | $1.15 | $1.37 | $1.28 | $2.40 | $3.36 |
| Diluted shares | 61M | 60M | 59M | 59M | 60M | 61M | 58M | 58M | 58M | 57M |
| Gross margin | 24.9% | 24.7% | 24.9% | 25.4% | 20.1% | 23.6% | 23.7% | 22.0% | 23.1% | 23.8% |
| Operating margin | 12.6% | 11.8% | 12.6% | 13.0% | 3.5% | 7.4% | 7.8% | 7.1% | 9.2% | 10.7% |
| Net margin | 6.0% | 9.0% | 8.3% | 8.7% | 1.8% | 4.0% | 4.0% | 3.1% | 5.2% | 6.6% |
Balance sheet
Fiscal years, from Bright Horizons Family Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $15M | $23M | $15M | $45M | $406M | $284M | $54M | $94M | $122M | $155M |
| Receivables | $97M | $117M | $131M | $149M | $177M | $211M | $217M | $282M | $283M | $294M |
| Total current assets | $154M | $192M | $194M | $229M | $624M | $540M | $348M | $447M | $496M | $504M |
| Property, plant and equipment | $529M | $575M | $597M | $636M | $629M | $598M | $571M | $579M | $573M | $574M |
| Goodwill | $1.3B | $1.3B | $1.3B | $1.4B | $1.4B | $1.5B | $1.7B | $1.8B | $1.8B | $1.8B |
| Total assets | $2.4B | $2.5B | $2.5B | $3.3B | $3.7B | $3.6B | $3.8B | $3.9B | $3.9B | $3.9B |
| Total current liabilities | $388M | $461M | $484M | $483M | $531M | $622M | $786M | $799M | $779M | $966M |
| Long-term debt | $1.1B | $1.0B | $1.0B | $1.0B | $1.0B | $976M | $962M | $944M | $918M | $748M |
| Total liabilities | $1.7B | $1.7B | $1.7B | $2.4B | $2.4B | $2.5B | $2.7B | $2.7B | $2.6B | $2.6B |
| Shareholders' equity | $688M | $749M | $779M | $971M | $1.3B | $1.2B | $1.1B | $1.2B | $1.3B | $1.3B |
| Net debt | $1.1B | $1.0B | $1.0B | $1.0B | $647M | $731M | $941M | $891M | $837M | $608M |
Cash flow
Fiscal years, from Bright Horizons Family Solutions's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $213M | $248M | $295M | $330M | $210M | $227M | $188M | $256M | $337M | $351M |
| Capital spending | $75M | $88M | $92M | $112M | $85M | $63M | $71M | $91M | $97M | $92M |
| Free cash flow | $138M | $160M | $202M | $219M | $125M | $164M | $118M | $165M | $240M | $259M |
| Stock-based compensation | $12M | $12M | $14M | $17M | $21M | $23M | $28M | $29M | $34M | $31M |
| Share buybacks (net) | -$113M | -$162M | -$127M | -$32M | -$33M | -$214M | -$183M | $0 | -$85M | -$225M |
| Net borrowing | -$7M | -$8M | -$11M | $0 | $0 | -$34M | $0 | -$16M | -$17M | -$501M |
| Free cash flow margin | 8.8% | 9.2% | 10.6% | 10.6% | 8.2% | 9.3% | 5.8% | 6.8% | 8.9% | 8.8% |
Questions
What was Bright Horizons Family Solutions's revenue in 2025?
$2.9B in fiscal 2025, from its 10-K filing.
How much free cash flow does Bright Horizons Family Solutions generate?
$259M in fiscal 2025 (operating cash flow minus capital spending).
From Bright Horizons Family Solutions's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.