Barrett Business Services Inc

Consumer Discretionary
Professional Services
www.bbsi.com

Earnings Score
Moat Score

Market Cap $1.11B
PE 22
Debt $NaN
Cash $28.72M
EV $NaN
FCF -$778.00K

Earnings

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Sales & Net Margins

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Earnings	$50.75M
EBIT	$67.47M
ROE	24%
ROA	9%
FCF	-$778.00K
Equity	$215.39M
Growth Stability	91%
PE	21.85
PEG	4.01
PB	5.15
P/FCF	-1.43K
P/S	0.99
Price/Cash	0.03
Net Margins	4%
Gross Margins	22%
Op. Margins	6%
Earnings CAGR	11%
Sales Growth YoY	8%
Sales Growth QoQ	5%
Sales CAGR	3%
FCF CAGR	-5%
Equity CAGR	21%
Earnings Stability	0.66
Earnings Growth YoY	8%
Earnings Growth QoQ	18%

Earnings CAGR 5Y	5%
Sales CAGR 5Y	5%
FCF CAGR 5Y	-4%
Equity CAGR 5Y	2%
Earnings CAGR 3Y	5%
Sales CAGR 3Y	5%
FCF CAGR 3Y	87%
Equity CAGR 3Y	3%
Market Cap	$1.11B
Revenue	$1.12B
Dividend Yield	1%
Payout Ratio	16%
Assets	$725.77M
Cash	$28.72M
Shares Outstanding	25.94M
Earnings Score	87%
Moat Score	87%
Working Capital	107.81M
Current Ratio	1.31
Gross Profit	$247.49M
Shares Growth 3y	-5%
Equity Growth QoQ	8%
Equity Growth YoY	19%

Assets & ROA

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Stockholders Equity & ROE

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Barrett Business Services Inc is a provider of payroll administrative services and staffing services. The company categories of services include professional employer services and staffing. Professional employer services offer payroll management, payroll taxes services, and workers' compensation coverage solutions, as well as workforce management services, including hiring and termination of employees. Staffing offers temporary staffing services, as well as contract staffing, long-term or indefinite on-site management, and direct placement services. The company operates in the United States of America. It generates maximum revenue from the Professional employer service fees.

SEC Filings

Direct access to Barrett Business Services Inc (BBSI) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Barrett Business Services Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Barrett Business Services Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 11%

Stability 66%

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Barrett Business Services Inc Discounted Cash Flow

Fully customizable DCF calculator online for Barrett Business Services Inc.

Years

Calculation mode

= -$5.5M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$778K	-$736K	-$697K	-$660K	-$624K	-$591K	-$559K	-$529K	-$501K	-$474K	-$449K	-$4.5M
DCF		-$669K	-$576K	-$496K	-$426K	-$367K	-$316K	-$272K	-$234K	-$201K	-$173K	-$1.7M
Value	-$5.5M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-4%	3%	2%	3%	4%	5%	4%	4%	4%	5%	4%
ROA	-	7%	5%	5%	6%	7%	5%	7%	10%	10%	9%
ROE	-	47%	27%	28%	32%	28%	17%	18%	27%	25%	24%

Bad Net Margins (4.31%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	0	0.06	0.04	0.06	0.06	-0.1	-0	-	-	-
Debt over Equity	1.17	0	0.06	0.05	0.03	0.02	0.02	0	-	-	-
Growth Stability	-	-	-	100%	100%	100%	91%	95%	100%	100%	91%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (91%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	16%	13%	9%	2%	0%	-7%	8%	10%	1%	5%
Earnings YoY growth	-	-194%	-26%	34%	51%	27%	-30%	13%	24%	7%	5%
Equity YoY growth	-	41%	28%	27%	34%	44%	15%	5%	-15%	12%	2%
FCF YoY growth	-	50%	-25%	49%	-41%	3%	-155%	-39%	-153%	369%	-4%