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NASDAQ NMS - GLOBAL MARKET · Professional Services · CIK 0000902791
$32.81
+3.08% · delayed ~15 min
Last price from Oct 22, 2026
$826.1M market value
From BARRETT BUSINESS SERVICES INC's FY2025 10-K, filed Feb 26, 2026 · read the filing
BARRETT BUSINESS SERVICES provides business and staffing services. It took in $1.24B last year, which makes it a mid-sized company. Of every dollar it sells, about 4 cents is left as profit.
The financial picture is mixed, with profitability, growth and debt needing attention.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Recent open-market selling by MEEKER ANTHONY, not under a pre-arranged plan.
$454.2K sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From BARRETT BUSINESS SERVICES INC's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Free cash flow
-$4.1M → $47.2M
Cash
$55.4M → $95.0M
Capital spending
$14.2M → $18.8M
Revenue
$1.14B → $1.24B
Measured against FY2024, from the 10-K filed Feb 26, 2026
Improved: turned positive
-$4.1M to $47.2MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
How the latest move compares (quote delayed ~15 min), and what was published around it
BBSI rose 3.08% on the latest quote. The average Industrials company tracked here moved +0.37%, and the S&P 500 −1.04%. That is 2.7 points above its sector and 4.1 points above the market.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 2% a year for the next 10 years. Over the last 10 years it shrank by about 7% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 4 cents of every dollar of sales as profit, earning $54.4M last year.
Slowly. Sales grew 8.4% last year.
Manageable. For every $1 it owes, it owns $1.45 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 15 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 12% of the cash its operations generated. It has paid in each of the last 12 years.
GoodFigures from the FY2025 annual filing
Last year it earned $54.4M and generated $66.0M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 26, 2026Filing for FY2025 | FY202410-K · Feb 28, 2025Filing for FY2024 | FY202310-K/A · Feb 28, 2025Filing for FY2023 | FY202210-K · Mar 6, 2023Filing for FY2022 | FY202110-K · Mar 7, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $1.24B | $1.14B | $1.07B | $1.05B | $955.2M | +8.4% |
| Cost of revenue | $979.4M | $891.3M | $826.8M | $819.5M | $750.7M | +9.9% |
| Gross profit | $260.9M | $253.3M | $242.5M | $234.8M | $204.5M | +3.0% |
| Gross marginGross profit ÷ revenueWhat is this? | 21.0% | 22.1% | 22.7% | 22.3% | 21.4% | −1.1 pts |
| Selling, general and administrative | $190.5M | $185.9M | $174.8M | $169.6M | $155.3M | +2.5% |
| Operating income | $62.2M | $59.8M | $60.6M | $59.0M | $43.9M | +4.0% |
| Operating marginOperating income ÷ revenueWhat is this? | 5.0% | 5.2% | 5.7% | 5.6% | 4.6% | −0.2 pts |
| Interest expense | $171.0K | $178.0K | $166.0K | $141.0K | $372.0K | −3.9% |
| Income before tax | $71.4M | $70.8M | $69.0M | $65.3M | $50.7M | +0.8% |
| Net income | $54.4M | $53.0M | $50.6M | $47.3M | $38.1M | +2.7% |
| Net marginNet income ÷ revenueWhat is this? | 4.4% | 4.6% | 4.7% | 4.5% | 4.0% | −0.2 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $2.16 | $2.06 | $1.93 | $6.88 | $5.14 | +5.2% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Sold on the open market — 12,000 shares at $37.85 ($454.2K)
Holds 44,945 shares after this filing.
Sold on the open market — 1,802 shares at $38.00 ($68.5K)
Holds 39,012 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report for Q2 FY2026
Operating margin −2.7 pts · Operating income -33.1% · Profit -30.3% — against Q2 FY2025
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingWrite down why you are following BARRETT BUSINESS SERVICES INC, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 3 subsidiaries named in its 10-K. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Source: Exhibit 21 of the 10-K filed 2026-02-26. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from BBSI's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 26, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 6.0 | 6/8 | 10-K, filed Feb 26, 2026 |
| FY2024 | 6.0 | 6/8 | 10-K, filed Feb 28, 2025 |
| FY2023 | 6.0 | 6/8 | 10-K, filed Mar 1, 2024 |
| FY2022 | 6.0 | 7/8 | 10-K, filed Mar 6, 2023 |
| FY2021 | 6.0 | 5/8 | 10-K, filed Mar 7, 2022 |
| FY2020 | 7.0 | 4/9 | 10-K, filed Mar 8, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
6 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
2.87
In the safe zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +71.6%
$55.4M to $95.0MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: +32.6%
$14.2M to $18.8MSignificant
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +8.4%
$1.14B to $1.24BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Deteriorated: −1.1 pts
22.1% to 21.0%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +5.2%
$2.06 to $2.16Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -2.3%
25.8M to 25.2MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 6, 2026 — read it.
Deteriorated: -33.1%
$23.0M to $15.4MSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -30.3%
$18.5M to $12.9MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −3.5 pts
23.8% to 20.3%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: -26.1%
$0.72 to $0.53Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -5.6%
25.5M to 24.1MSignificant
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Deteriorated: -11.5%
$73.3M to $64.9MNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: −2.7 pts
7.5% to 4.8%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −2.0 pts
6.0% to 4.0%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 6, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +50.2%
$43.2M to $64.9MCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: turned positive
-$6.5M to $15.4MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: turned positive
-$14.8M to $12.9MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +8.8 pts
-4.8% to 4.0%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: turned positive
-$0.60 to $0.53Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +6.3 pts
14.1% to 20.3%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +6.9 pts
-2.1% to 4.8%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: -26.1%
$36.6M to $27.0MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -2.0%
24.6M to 24.1MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
6 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 0% and 4%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 9 analysts covering this company, as of . Their views, not this site's.
Of 9 analysts publishing on this company, 3 say strong buy, 4 say buy and 2 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 4.3% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 22.2x — investors pay $22.2 for each $1 of trailing profit.
This company has not reported enough of the required figures to calculate this score.
Sold on the open market — 3,487 shares at $37.55 ($130.9K)
Holds 35,525 shares after this filing.
Sold on the open market — 3,490 shares at $38.00 ($132.6K)
Holds 32,035 shares after this filing.
Exercised stock options — 456 shares
Holds 97,709 shares after this filing.
Exercised stock options — 4,352 shares
Holds 102,061 shares after this filing.
Exercised stock options — 4,128 shares
Holds 106,189 shares after this filing.
Exercised stock options — 2,972 shares
Holds 109,161 shares after this filing.
Exercised stock options — 2,392 shares
Holds 111,553 shares after this filing.
Had shares withheld to cover taxes — 180 shares at $37.73 ($6.8K)
Holds 111,373 shares after this filing.
Had shares withheld to cover taxes — 1,713 shares at $37.73 ($64.6K)
Holds 109,660 shares after this filing.
Had shares withheld to cover taxes — 1,625 shares at $37.73 ($61.3K)
Holds 108,035 shares after this filing.
Had shares withheld to cover taxes — 1,170 shares at $37.73 ($44.1K)
Holds 106,865 shares after this filing.
Had shares withheld to cover taxes — 942 shares at $37.73 ($35.5K)
Holds 105,923 shares after this filing.
Exercised stock options — 6,892 shares
Holds 212,757 shares after this filing.
Exercised stock options — 5,212 shares
Holds 217,969 shares after this filing.
Exercised stock options — 3,433 shares
Holds 221,402 shares after this filing.
Exercised stock options — 2,720 shares
Holds 224,122 shares after this filing.
Had shares withheld to cover taxes — 2,752 shares at $37.73 ($103.8K)
Holds 221,370 shares after this filing.
Had shares withheld to cover taxes — 2,082 shares at $37.73 ($78.6K)
Holds 219,288 shares after this filing.
Had shares withheld to cover taxes — 1,371 shares at $37.73 ($51.7K)
Holds 217,917 shares after this filing.
Had shares withheld to cover taxes — 1,087 shares at $37.73 ($41.0K)
Holds 216,830 shares after this filing.
Exercised stock options — 4,088 shares
Holds 332,889 shares after this filing.
Exercised stock options — 13,428 shares
Holds 346,317 shares after this filing.
Exercised stock options — 14,156 shares
Holds 360,473 shares after this filing.
Exercised stock options — 11,477 shares
Holds 371,950 shares after this filing.
Exercised stock options — 9,222 shares
Holds 381,172 shares after this filing.
Had shares withheld to cover taxes — 1,609 shares at $37.73 ($60.7K)
Holds 379,563 shares after this filing.
Had shares withheld to cover taxes — 5,284 shares at $37.73 ($199.4K)
Holds 374,279 shares after this filing.
Had shares withheld to cover taxes — 5,571 shares at $37.73 ($210.2K)
Holds 368,708 shares after this filing.
Had shares withheld to cover taxes — 4,517 shares at $37.73 ($170.4K)
Holds 364,191 shares after this filing.
Had shares withheld to cover taxes — 3,629 shares at $37.73 ($136.9K)
Holds 360,562 shares after this filing.
Exercised stock options — 2,344 shares
Holds 15,428 shares after this filing.
Exercised stock options — 2,344 shares
Holds 17,735 shares after this filing.
Exercised stock options — 2,344 shares
Holds 23,287 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 3,490 shares ($131.3K) on or after .
Shares originally obtained via Restricted Stock Units.
Filed notice to sell 3,487 shares ($132.2K) on or after .
Shares originally obtained via Restricted Stock Units.
Filed notice to sell 12,000 shares ($454.2K) on or after .
Shares originally obtained via Restricted Stock Vesting Under a Registered Plan.
Filed notice to sell 1,802 shares ($68.0K) on or after .
Shares originally obtained via Performance Stock Units.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Had a director or senior officer leave or join · Held a shareholder vote
Quarterly report for Q1 FY2026
Profit margin −4.5 pts · Operating income $2.3M wider · Profit $13.8M wider — against Q1 FY2025
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingProxy statement for a shareholder meeting
Read the filingReported another event
Read the filingAnnual report for FY2025
Revenue +8.4% · Free cash flow turned positive · Cash +71.6% — against FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingQuarterly report for Q3 FY2025
Revenue +8.4% · Cash +230.4% · Operating income +5.7% — against Q3 FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingSigned a material agreement · Took on a direct financial obligation
Read the filingQuarterly report for Q2 FY2025
Revenue +10.0% · Cash -34.7% · Gross profit +7.9% — against Q2 FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingMade a Regulation FD disclosure
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q1 FY2025
Revenue +10.1% · Profit $885.0K wider · Free cash flow -88.8% — against Q1 FY2024
Read the filingPublished results · Made a Regulation FD disclosure
Read the filingProxy statement for a shareholder meeting
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingBBSI Sets Third Quarter 2026 Conference Call for Wednesday, November 4, 2026, at 5:00 p.m. ET
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