TBI (TBI) financial statements
TBI reported revenue of $1.6B in fiscal 2025, down 5.7% a year over 9 years.
Net income was -$48M and the operating margin -2.9%, against -0.6% in 2016.
Free cash flow was -$74M.
The diluted share count fell 28% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from TBI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8B | $2.5B | $2.5B | $2.4B | $1.8B | $2.2B | $2.3B | $1.9B | $1.6B | $1.6B |
| Cost of revenue | $2.1B | $1.9B | $1.8B | $1.7B | $1.4B | $1.6B | $1.7B | $1.4B | $1.2B | $1.2B |
| Gross profit | $680M | $634M | $655M | $620M | $441M | $560M | $602M | $506M | $406M | $368M |
| Selling, general and admin | $546M | $511M | $540M | $516M | $408M | $464M | $501M | $495M | $411M | $371M |
| Operating income | -$17M | $78M | $74M | $66M | -$175M | $68M | $72M | -$24M | -$93M | -$47M |
| Interest expense | $7M | $5M | $5M | $3M | — | — | — | — | — | — |
| Pre-tax income | -$20M | $78M | $76M | $70M | -$173M | $74M | $73M | -$21M | -$89M | -$46M |
| Income tax | -$5M | $22M | $10M | $7M | -$31M | $12M | $11M | -$6M | $37M | $2M |
| Net income | -$15M | $55M | $66M | $63M | -$142M | $62M | $62M | -$14M | -$126M | -$48M |
| EPS (diluted) | -$0.37 | $1.34 | $1.63 | $1.61 | -$4.01 | $1.74 | $1.86 | -$0.45 | -$4.17 | -$1.61 |
| Diluted shares | 42M | 41M | 40M | 39M | 35M | 35M | 33M | 31M | 30M | 30M |
| Gross margin | 24.7% | 25.3% | 26.2% | 26.2% | 23.9% | 25.8% | 26.7% | 26.5% | 25.9% | 22.8% |
| Operating margin | -0.6% | 3.1% | 3.0% | 2.8% | -9.5% | 3.1% | 3.2% | -1.3% | -5.9% | -2.9% |
| Net margin | -0.6% | 2.2% | 2.6% | 2.7% | -7.7% | 2.8% | 2.8% | -0.7% | -8.0% | -3.0% |
Balance sheet
Fiscal years, from TBI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $35M | $29M | $47M | $38M | $63M | $50M | $72M | $62M | $23M | $25M |
| Receivables | $353M | $374M | $355M | $342M | $278M | $354M | $314M | $253M | $215M | $241M |
| Total current assets | $428M | $428M | $430M | $422M | $379M | $445M | $430M | $355M | $277M | $298M |
| Property, plant and equipment | $64M | $60M | $58M | $66M | $72M | $88M | $96M | $105M | $90M | $73M |
| Goodwill | $224M | $227M | $237M | $237M | $95M | $95M | $94M | $84M | $25M | $42M |
| Total assets | $1.1B | $1.1B | $1.1B | $1.1B | $981M | $1.0B | $1.0B | $899M | $675M | $639M |
| Total current liabilities | $251M | $212M | $226M | $231M | $269M | $259M | $243M | $204M | $160M | $139M |
| Long-term debt | $135M | $116M | $80M | $37M | $0 | $0 | — | $0 | $8M | $66M |
| Total liabilities | $605M | $554M | $523M | $510M | $543M | $540M | $523M | $442M | $360M | $364M |
| Shareholders' equity | $525M | $555M | $591M | $626M | $437M | $493M | $496M | $458M | $315M | $275M |
| Net debt | $103M | $88M | $33M | -$508,000 | -$63M | -$50M | -$72M | -$62M | -$15M | $41M |
Cash flow
Fiscal years, from TBI's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $261M | $100M | $126M | $94M | $153M | $20M | $121M | $35M | -$17M | -$58M |
| Capital spending | $29M | $22M | $17M | $28M | $27M | $35M | $31M | $31M | $24M | $16M |
| Free cash flow | $232M | $78M | $109M | $65M | $125M | -$15M | $90M | $3M | -$41M | -$74M |
| Stock-based compensation | $9M | $8M | $14M | $10M | $9M | $14M | $10M | $14M | $8M | $7M |
| Share buybacks (net) | -$6M | -$37M | -$35M | -$39M | -$52M | -$17M | -$61M | -$34M | -$21M | $0 |
| Free cash flow margin | 8.4% | 3.1% | 4.3% | 2.8% | 6.8% | -0.7% | 4.0% | 0.2% | -2.6% | -4.6% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for TBI.
Open TBI in InvestinglyQuestions
What was TBI's revenue in 2025?
$1.6B in fiscal 2025, from its 10-K filing.
How much free cash flow does TBI generate?
-$74M in fiscal 2025 (operating cash flow minus capital spending).
From TBI's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.