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Barrett Business Services (BBSI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Barrett Business Services
NasdaqGS•Industrials•Staffing & Employment Services
$33.35+0.49(0.01%)Pre-market
Market Cap
$810.30M
P/E
23.1x
P/S
0.6x
P/B
4.0x

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.

C

How this company scores

AverageMetricSide Score: 58/100

Strongest: Cash & Earnings Quality (17/25); weakest: Growth (13/25).

Profitability13/25
Growth13/25
Balance Sheet & Red Flags15/25
Cash & Earnings Quality17/25
Strengths
High ROEInterest easily coveredConsistent growthNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 23.1x5y range 11.7x – 23.1x
P/E 23.1x · above its 20-quarter median

Currently above its 20-quarter median.

P/S · 0.6x5y range 0.5x – 1.0x
P/S 0.6x · near its 20-quarter median

Currently near its 20-quarter median.

P/B · 4.0x5y range 2.5x – 5.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 21.8% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume
Market Cap $810.30M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$1.27B
7Q
Q. Revenue
$319.27M
4%
TTM EBITDA
$60.93M
3Q
TTM Op. Income
$52.24M
3Q
Q. Op. Income
$15.40M
33%
TTM Net Income
$35.08M
3Q
Q. Net Income
$12.87M
30%
EPS
$0.53
26%
Shares Out.
$24.35M
3Q
$1.27B in TTM revenue grew 5.6% YoY, reaching $319.27M last quarter. TTM EBITDA of $60.93M and TTM operating income of $52.24M show growth is flowing through to the bottom line. TTM net income of $35.08M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
20.3%
15%
EBITDA Margin
5.5%
32%
Op. Margin
4.8%
36%
Net Margin
4.0%
33%
Op. margin of 4.8% is down 2.7% YoY — costs are rising relative to revenue. Net margin at 4.0% and gross margin of 20.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 36% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
23.1x
2Q
P/S Ratio
0.6x
28%
P/B Ratio
4.0x
16%
At 23.1x P/E, the stock trades within typical market levels. P/S of 0.6x and P/B of 4.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$711.28M
0%
Cash
$27.04M
2Q
Long-Term Debt
N/A
Book Value
$203.78M
2Q
D/E Ratio
N/A
Debt/EBITDA
0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$-55.88M
2Q
TTM Free Cash Flow
$15.52M
2Q
FCF Margin
1.2%
2Q
FCF / Net Income
0.4
2Q
TTM FCF of $15.52M on $-55.88M in operating cash flow. The FCF / Net Income ratio of 0.4x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.

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· near its 20-quarter median

Currently near its 20-quarter median.

Cash Burn

Watch

4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.