Barrett Business Services, Inc. provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company also 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. In addition, it 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. The company serves customers in various industries, including construction, waste management and remediation services, manufacturing, transportation and warehousing, health care, leisure and hospitality, retail, professional and advisory services, and wholesale trade industries. Barrett Business Services, Inc. was incorporated in 1965 and is headquartered in Vancouver, Washington.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.2B | $80M | $54M | $47M | 22.6% | 8.4% | 2.7% |
| 2024 | $1.1B | $79M | $53M | $-4M | 23.9% | 7.0% | 4.7% |
| 2023 | $1.1B | $76M | $51M | $55M | 25.4% | 1.4% | 7.1% |
| 2022 | $1.1B | $72M | $47M | $12M | 26.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,054.33 | 1,069.31 | 1,144.53 | 1,240.30 |
| Cost Of Revenue | 819.48 | 826.77 | 891.28 | 979.38 |
| Gross Profit | 234.84 | 242.53 | 253.25 | 260.91 |
| Operating Expense | 175.87 | 181.88 | 193.47 | 198.75 |
| Operating Income | 58.98 | 60.65 | 59.78 | 62.16 |
| EBITDA | 71.67 | 76.26 | 78.60 | 79.83 |
| EBIT | 65.44 | 69.15 | 71 | 71.57 |
| Pretax Income | 65.30 | 68.99 | 70.82 | 71.40 |
| Tax Provision | 18.04 | 18.38 | 17.83 | 16.95 |
| Net Income | 47.27 | 50.61 | 52.99 | 54.45 |
| Net Income Common Stockholders | 47.27 | 50.61 | 52.99 | 54.45 |
| Total Expenses | 995.35 | 1,008.66 | 1,084.75 | 1,178.13 |
| Interest Expense | 0.14 | 0.17 | 0.18 | 0.17 |
| Selling General And Administration | 169.64 | 174.77 | 185.87 | 190.49 |
| Normalized EBITDA | 65.20 | 67.62 | 67.47 | 70.57 |
| Normalized Income | 42.58 | 44.27 | 44.67 | 47.38 |
| Basic EPS | 1.66 | 1.88 | 2.03 | 0 |
| Diluted EPS | 1.64 | 1.85 | 1.98 | 0 |
| Tax Effect Of Unusual Items | 1.79 | 2.30 | 2.80 | 2.19 |
| Tax Rate For Calcs | 0.28 | 0.27 | 0.25 | 0.24 |
| Total Unusual Items | 6.48 | 8.64 | 11.13 | 9.26 |
| Total Unusual Items Excluding Goodwill | 6.48 | 8.64 | 11.13 | 9.26 |
| Net Income From Continuing Operation Net Minority Interest | 47.27 | 50.61 | 52.99 | 54.45 |
| Reconciled Depreciation | 6.23 | 7.11 | 7.60 | 8.26 |
| Reconciled Cost Of Revenue | 819.48 | 826.77 | 891.28 | 979.38 |
| Net Interest Income | -0.14 | -0.17 | -0.18 | -0.17 |
| Net Income From Continuing And Discontinued Operation | 47.27 | 50.61 | 52.99 | 54.45 |
| Total Operating Income As Reported | 58.98 | 60.65 | 59.78 | 62.16 |
| Diluted Average Shares | 28.90 | 27.40 | 26.71 | 0 |
| Basic Average Shares | 28.52 | 26.92 | 26.08 | 0 |
| Diluted NI Availto Com Stockholders | 47.27 | 50.61 | 52.99 | 54.45 |
| Net Income Including Noncontrolling Interests | 47.27 | 50.61 | 52.99 | 54.45 |
| Net Income Continuous Operations | 47.27 | 50.61 | 52.99 | 54.45 |
| Other Income Expense | 6.47 | 8.50 | 11.22 | 9.41 |
| Other Non Operating Income Expenses | -0.01 | -0.14 | 0.09 | 0.15 |
| Gain On Sale Of Security | 6.48 | 8.64 | 11.13 | 9.26 |
| Net Non Operating Interest Income Expense | -0.14 | -0.17 | -0.18 | -0.17 |
| Interest Expense Non Operating | 0.14 | 0.17 | 0.18 | 0.17 |
| Depreciation Amortization Depletion Income Statement | 6.23 | 7.11 | 7.60 | 8.26 |
| Depreciation And Amortization In Income Statement | 6.23 | 7.11 | 7.60 | 8.26 |
| Operating Revenue | 1,054.33 | 1,069.31 | 1,144.53 | 1,240.30 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Barrett Business Services, Inc.this co. | BBSI | $775M | 15.18β discount | 3.30 | 22.6% | 10.07 |
| Kforce Inc. | KFRC | $854M | 24.08 | 6.47 | 27.9% | 16.91 |
| Compass Diversified | CODI | $854M | - | -23.84 | -39.5% | 17.91 |
| Apogee Enterprises, Inc. | APOG | $831M | 9.68 | 1.69 | 17.4% | 6.94 |
| Falcon's Beyond Global, Inc. | FBYD |
| $809M |
| 550.67 |
| 66.61 |
| 14.2% |
| -56.76 |
| Montrose Environmental Group, Inc. | MEG | $736M | - | 1.62 | -0.2% | 16.52 |
| Ardmore Shipping Corporation | ASC | $728M | 20.27 | 1.15 | 6.5% | 9.99 |
| Janus International Group, Inc. | JBI | $711M | 13.71 | 1.26 | 9.4% | 7.12 |
| Cardinal Infrastructure Group Inc. | CDNL | $701M | 30.18 | 11.73 | 16.3% | 10.97 |
| Peer Median | - | 22.18 | 1.65 | 11.8% | 10.48 | |