NYSE : TBI
TrueBlue, Inc. — Financial statements
Industrials · Staffing & Employment Services · United States
Last price 9.77 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 297.44M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
TrueBlue, Inc. (TBI) reported revenue of 1.69B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.69B | 1.62B | 1.57B | 1.91B | 2.25B | 2.17B |
| Cost of Revenue | 1.33B | 1.25B | 1.16B | 1.40B | 1.65B | 1.61B |
| Gross Profit | 363.94M | 364.67M | 406.39M | 506.06M | 602.14M | 560.32M |
| Selling, General & Admin | 367.20M | 376.49M | 417.67M | 494.60M | 500.69M | 464.32M |
| Operating Expenses | 391.47M | 401.31M | 446.29M | 520.42M | 529.96M | 491.88M |
| Operating Income | -27.53M | -36.64M | -39.90M | -14.37M | 72.19M | 68.44M |
| Interest Expense | -6.88M | -1.10M | ||||
| Interest & Investment Income | 4.25M | 3.21M | 1.23M | 5.41M | ||
| Other Non Operating Income (Expenses) | 2.10M | 2.10M | ||||
| EBT Excluding Unusual Items | -32.31M | -35.64M | -35.65M | -11.16M | 73.42M | 73.85M |
| Merger & Restructuring Charges | 4.00M | |||||
| Impairment of Goodwill | -3.66M | -59.07M | ||||
| Gain (Loss) on Sale of Assets | -3.03M | |||||
| Asset Writedown | -18.37M | -18.57M | -600.00K | -9.48M | ||
| Other Unusual Items | 8.57M | 6.80M | ||||
| Pretax Income | -53.36M | -45.63M | -88.52M | -20.64M | 73.42M | 73.85M |
| Income Tax Expense | 3.25M | 2.33M | 37.22M | -6.47M | 11.14M | 12.22M |
| Net Income | -56.62M | -47.96M | -125.75M | -14.17M | 62.27M | 61.63M |
| Net Income to Common | -56.62M | -47.96M | -125.75M | -14.17M | 62.27M | 61.63M |
| Shares Outstanding (Basic) | 30.10M | 29.85M | 30.18M | 31.32M | 32.89M | 34.80M |
| Shares Outstanding (Diluted) | 30.10M | 29.85M | 30.18M | 31.32M | 33.45M | 35.43M |
| EPS (Basic) | -1.88 | -1.61 | -4.17 | -0.45 | 1.89 | 1.77 |
| EPS (Diluted) | -1.88 | -1.61 | -4.17 | -0.45 | 1.86 | 1.74 |
| Free Cash Flow | -67.44M | -73.72M | -41.21M | 3.48M | 89.88M | -14.57M |
| Free Cash Flow Per Share | -2.24 | -2.47 | -1.37 | 0.11 | 2.69 | -0.41 |
| Gross Margin | 21.52% | 22.57% | 25.93% | 26.55% | 26.71% | 25.78% |
| Operating Margin | -1.63% | -2.27% | -2.55% | -0.75% | 3.20% | 3.15% |
| Profit Margin | -3.35% | -2.97% | -8.02% | -0.74% | 2.76% | 2.84% |
| Free Cash Flow Margin | -3.99% | -4.56% | -2.63% | 0.18% | 3.99% | -0.67% |
| EBITDA | 690.00K | -7.79M | -10.34M | 11.46M | 101.46M | 96.00M |
| EBITDA Margin | 0.04% | -0.48% | -0.66% | 0.60% | 4.50% | 4.42% |
| D&A For EBITDA | 28.22M | 28.85M | 29.56M | 25.82M | 29.27M | 27.56M |
| EBIT | -27.53M | -36.64M | -39.90M | -14.37M | 72.19M | 68.44M |
| EBIT Margin | -1.63% | -2.27% | -2.55% | -0.75% | 3.20% | 3.15% |
| Effective Tax Rate | 15.18% | 16.54% | ||||
| Advertising Expenses | 4.90M | 6.10M | 9.20M | 12.50M | 9.70M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 23.25M | 24.51M | 22.54M | 61.88M | 72.05M | 49.90M |
| Cash & Short-Term Investments | 23.25M | 24.51M | 22.54M | 61.88M | 72.05M | 49.90M |
| Accounts Receivable | 267.77M | 241.23M | 214.70M | 252.54M | 314.27M | 353.88M |
| Other Receivables | 1.15M | 879.00K | 8.07M | 11.68M | 11.35M | 9.68M |
| Receivables | 268.92M | 242.11M | 222.77M | 264.21M | 325.63M | 363.56M |
| Prepaid Expenses | 5.88M | 7.48M | 6.33M | 9.36M | 9.46M | 8.86M |
| Other Current Assets | 20.31M | 23.50M | 25.46M | 19.54M | 23.07M | 22.76M |
| Total Current Assets | 318.36M | 297.61M | 277.09M | 354.99M | 430.21M | 445.07M |
| Property, Plant & Equipment | 99.08M | 86.99M | 109.59M | 81.42M | 118.55M | 113.99M |
| Goodwill | 38.93M | 42.50M | 24.54M | 84.11M | 93.78M | 94.54M |
| Other Intangible Assets | 16.78M | 38.27M | 33.20M | 83.83M | 44.30M | 51.51M |
| Long-Term Deferred Tax Assets | 1.23M | 1.34M | 886.00K | 35.47M | 25.84M | 29.33M |
| Other Long-Term Assets | 148.59M | 171.97M | 230.06M | 259.56M | 306.72M | 298.79M |
| Total Assets | 622.96M | 638.67M | 675.38M | 899.38M | 1.02B | 1.03B |
| Accounts Payable | 31.69M | 36.11M | 45.60M | 56.40M | 76.64M | 77.17M |
| Accrued Expenses | 92.25M | 85.93M | 96.11M | 124.99M | 142.24M | 161.77M |
| Current Portion of Leases | 11.34M | 11.21M | 11.13M | 11.90M | 11.96M | 12.10M |
| Current Income Taxes Payable | 743.00K | 1.04M | 315.00K | 439.00K | 1.14M | |
| Current Unearned Revenue | 1.84M | 3.81M | ||||
| Other Current Liabilities | 3.33M | 4.25M | 6.97M | 8.53M | 7.08M | 7.51M |
| Total Current Liabilities | 139.36M | 138.53M | 160.12M | 204.10M | 242.88M | 258.55M |
| Long-Term Debt | 82.40M | 65.80M | 7.60M | |||
| Long-Term Leases | 44.70M | 46.80M | 47.80M | 49.43M | 50.60M | 54.93M |
| Long-Term Deferred Tax Liabilities | 300.00K | 300.00K | 300.00K | |||
| Other Long-Term Liabilities | 101.84M | 112.68M | 144.19M | 187.68M | 229.62M | 226.69M |
| Total Liabilities | 368.30M | 364.11M | 360.02M | 441.51M | 523.09M | 540.16M |
| Common Stock | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K | 1.00K |
| Retained Earnings | 276.46M | 296.20M | 337.55M | 478.58M | 516.33M | 508.81M |
| Comprehensive Income & Other | -21.80M | -21.65M | -22.19M | -20.71M | -20.02M | -15.75M |
| Shareholders' Equity | 254.67M | 274.56M | 315.36M | 457.87M | 496.31M | 493.07M |
| Total Liabilities & Equity | 622.96M | 638.67M | 675.38M | 899.38M | 1.02B | 1.03B |
| Total Debt | 138.44M | 123.80M | 66.53M | 61.34M | 62.56M | 67.02M |
| Net Cash (Debt) | -115.19M | -99.29M | -44.00M | 549.00K | 9.49M | -17.13M |
| Net Cash Per Share | -3.83 | -3.33 | -1.46 | 0.02 | 0.28 | -0.48 |
| Filing Date Shares Outstanding | 30.44M | 30.06M | 29.71M | 31.39M | 32.82M | 34.46M |
| Total Common Shares Outstanding | 30.44M | 29.99M | 29.59M | 31.25M | 32.73M | 34.86M |
| Working Capital | 178.99M | 159.08M | 116.97M | 150.89M | 187.34M | 186.53M |
| Book Value Per Share | 8.37 | 9.16 | 10.66 | 14.65 | 15.16 | 14.14 |
| Tangible Book Value | 198.96M | 193.79M | 257.61M | 289.93M | 358.23M | 347.02M |
| Tangible Book Value Per Share | 6.54 | 6.46 | 8.71 | 9.28 | 10.94 | 9.95 |
| Buildings | 23.55M | 23.54M | 46.82M | 49.36M | 50.44M | |
| Machinery | 33.74M | 37.88M | 38.71M | 48.67M | 47.82M | |
| Construction In Progress | 1.01M | 838.00K | 2.67M | 31.96M | 16.57M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -56.62M | -47.96M | -125.75M | -14.17M | 62.27M | 61.63M |
| Depreciation & Amortization | 28.22M | 28.85M | 29.56M | 25.82M | 29.27M | 27.56M |
| Asset Writedown & Restructuring Costs | 22.02M | 18.57M | 59.67M | 9.48M | ||
| Stock-Based Compensation | 6.68M | 7.26M | 7.59M | 13.91M | 9.69M | 13.94M |
| Provision & Write-off of Bad Debts | 2.75M | 2.81M | 2.32M | 4.97M | 4.46M | 6.49M |
| Other Operating Activities | 3.77M | 5.42M | 41.33M | -1.14M | 24.71M | 13.23M |
| Change in Accounts Receivable | -44.64M | -15.46M | 35.73M | 56.76M | 34.77M | -81.62M |
| Change in Accounts Payable | -4.71M | -11.10M | -8.91M | -19.21M | -1.50M | 16.43M |
| Change in Income Taxes | 3.23M | 4.09M | 3.20M | -1.32M | -2.67M | 1.60M |
| Change in Other Net Operating Assets | -18.24M | -50.52M | -61.80M | -40.35M | -40.51M | -38.83M |
| Operating Cash Flow | -54.49M | -58.04M | -17.06M | 34.75M | 120.50M | 20.44M |
| Capital Expenditures | -12.95M | -15.68M | -24.15M | -31.28M | -30.63M | -35.01M |
| Cash Acquisitions | -9.00K | -30.15M | ||||
| Divestitures | 400.00K | 400.00K | 3.10M | |||
| Other Investing Activities | 26.37M | 29.36M | 18.60M | -1.05M | 9.68M | 18.79M |
| Investing Cash Flow | 13.81M | -16.06M | -2.45M | -32.32M | -20.95M | -16.22M |
| Long-Term Debt Issued | 58.20M | 7.60M | ||||
| Net Debt Issued (Repaid) | 28.60M | 58.20M | 7.60M | |||
| Issuance of Common Stock | 405.00K | 454.00K | 738.00K | 856.00K | 980.00K | 1.14M |
| Repurchase of Common Stock | -788.00K | -1.10M | -23.62M | -38.34M | -65.42M | -19.92M |
| Other Financing Activities | -516.00K | -414.00K | -1.81M | -100.00K | -253.00K | -345.00K |
| Financing Cash Flow | 27.70M | 57.14M | -17.09M | -37.58M | -64.69M | -19.13M |
| Foreign Exchange Rate Adjustments | -492.00K | -119.00K | -1.61M | -874.00K | -2.42M | -521.00K |
| Miscellaneous Cash Flow Adjustments | -300.00K | |||||
| Net Cash Flow | -13.47M | -17.08M | -38.21M | -36.33M | 32.45M | -15.43M |
| Free Cash Flow | -67.44M | -73.72M | -41.21M | 3.48M | 89.88M | -14.57M |
| Free Cash Flow Margin | -3.99% | -4.56% | -2.63% | 0.18% | 3.99% | -0.67% |
| Free Cash Flow Per Share | -2.24 | -2.47 | -1.37 | 0.11 | 2.69 | -0.41 |
| Levered Free Cash Flow | -38.71M | -43.37M | -16.59M | 25.81M | 74.93M | -38.11M |
| Unlevered Free Cash Flow | -34.40M | -42.68M | -16.59M | 25.81M | 74.93M | -38.11M |
| Cash Interest Paid | 5.90M | 4.62M | 1.04M | 1.03M | 1.12M | 1.43M |
| Cash Income Tax Paid | -4.85M | 211.00K | 5.17M | 9.98M | 9.77M | |
| Change in Working Capital | -64.35M | -72.99M | -31.78M | -4.12M | -9.91M | -102.42M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 302.62M | 139.22M | 232.63M | 477.68M | 628.85M | 981.04M |
| Enterprise Value | 417.80M | 245.74M | 281.40M | 494.66M | 648.14M | 1.00B |
| Last Close Price | 9.77 | 4.65 | 7.87 | 15.34 | 19.22 | 27.65 |
| PE Ratio | 10.10 | 15.92 | ||||
| Forward PE | 18.68 | 75.36 | 38.95 | 77.99 | 12.43 | 13.54 |
| PS Ratio | 0.18 | 0.09 | 0.15 | 0.25 | 0.28 | 0.45 |
| PB Ratio | 1.17 | 0.51 | 0.74 | 1.04 | 1.27 | 1.99 |
| P/TBV Ratio | 1.51 | 0.72 | 0.90 | 1.65 | 1.75 | 2.83 |
| P/FCF Ratio | 137.34 | 7.00 | ||||
| P/OCF Ratio | 13.74 | 5.22 | 48.00 | |||
| PEG Ratio | 1.32 | 5.38 | 2.78 | 5.57 | 0.83 | 0.75 |
| EV/Sales Ratio | 0.25 | 0.15 | 0.18 | 0.26 | 0.29 | 0.46 |
| EV/EBITDA Ratio | 603.09 | 43.18 | 6.39 | 10.43 | ||
| EV/EBIT Ratio | 8.98 | 14.63 | ||||
| EV/FCF Ratio | 142.22 | 7.21 | ||||
| Debt / Equity Ratio | 0.54 | 0.45 | 0.21 | 0.13 | 0.13 | 0.14 |
| Debt / EBITDA Ratio | 6.12 | 8.21 | 4.60 | 1.67 | 0.49 | 0.54 |
| Debt / FCF Ratio | 17.64 | 0.70 | ||||
| Net Debt / Equity Ratio | 0.45 | 0.36 | 0.14 | -0.00 | -0.02 | 0.04 |
| Net Debt / EBITDA Ratio | 166.94 | -12.75 | -4.25 | -0.05 | -0.09 | 0.18 |
| Net Debt / FCF Ratio | -1.71 | -1.35 | -1.07 | -0.16 | -0.11 | -1.18 |
| Asset Turnover | 2.61 | 2.46 | 1.99 | 1.99 | 2.20 | 2.16 |
| Quick Ratio | 2.10 | 1.93 | 1.53 | 1.60 | 1.64 | 1.60 |
| Current Ratio | 2.28 | 2.15 | 1.73 | 1.74 | 1.77 | 1.72 |
| Return on Equity (ROE) | -20.23% | -16.26% | -32.52% | -2.97% | 12.59% | 13.25% |
| Return on Assets (ROA) | -2.66% | -3.48% | -3.17% | -0.94% | 4.40% | 4.25% |
| Return on Invested Capital (ROIC) | -7.52% | -9.99% | -9.77% | -3.04% | 12.28% | 11.98% |
| Return on Capital Employed (ROCE) | -5.70% | -7.30% | -7.70% | -2.10% | 9.30% | 8.80% |
| Earnings Yield | -18.92% | -34.45% | -54.05% | -2.97% | 9.90% | 6.28% |
| FCF Yield | -22.41% | -52.95% | -17.71% | 0.73% | 14.29% | -1.49% |
| Buyback Yield / Dilution | -1.34% | 1.09% | 3.64% | 6.37% | 5.61% | -0.19% |