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Barrett Business Services (BBSI)

Market Price (5/3/2026): $31.4 | Market Cap: $796.4 Mil
Sector: Industrials | Industry: Human Resource & Employment Services

Barrett Business Services (BBSI)

Market Price (5/3/2026): $31.4
Market Cap: $796.4 Mil
Sector: Industrials
Industry: Human Resource & Employment Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 5.9%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17%

Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31%

Low stock price volatility
Vol 12M is 34%

Megatrend and thematic drivers
Megatrends include Future of Work. Themes include HR Outsourcing & PEO Services, Workforce Management Solutions, and Regulatory Compliance & Risk Management.

Weak multi-year price returns
2Y Excs Rtn is -37%, 3Y Excs Rtn is -21%

Key risks
BBSI key risks include [1] volatility in its critical workers' compensation component and [2] its significant geographic concentration in California.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.2%, FCF Yield is 5.9%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -17%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -31%
3 Low stock price volatility
Vol 12M is 34%
4 Megatrend and thematic drivers
Megatrends include Future of Work. Themes include HR Outsourcing & PEO Services, Workforce Management Solutions, and Regulatory Compliance & Risk Management.
5 Weak multi-year price returns
2Y Excs Rtn is -37%, 3Y Excs Rtn is -21%
6 Key risks
BBSI key risks include [1] volatility in its critical workers' compensation component and [2] its significant geographic concentration in California.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Barrett Business Services (BBSI) stock has lost about 15% since 1/31/2026 because of the following key factors:

1. Q4 2025 Earnings Miss on Adjusted EBITDA and Cautious 2026 Outlook.

Barrett Business Services reported its fourth-quarter 2025 earnings on February 25, 2026. While diluted earnings per share of $0.64 met consensus estimates and revenue of $2.40 billion exceeded expectations, the market reacted negatively to an adjusted EBITDA of $20.68 million, which was 15.5% below expectations. The company's accompanying 2026 outlook projected modest gross billings growth of 3% to 5% and average worksite employee growth of 2% to 4%, with management noting a "more cautious starting point" for gross margin due to pricing uncertainties and persistent wage growth pressures. This subdued outlook on future profitability contributed to investor disappointment.

2. Analyst Downgrades and Price Target Reductions.

Following the Q4 2025 earnings report, several analysts revised their ratings and price targets for BBSI. On February 26, 2026, Roth Mkm lowered its price target for Barrett Business Services from $54.00 to $42.00, while maintaining a "buy" rating. Similarly, Barrington Research reduced its price target from $46.00 to $41.00 on the same date, although it maintained an "Outperform" rating. Additionally, Zacks Research downgraded BBSI from a "hold" to a "strong sell" on February 27, 2026.

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Stock Movement Drivers

Fundamental Drivers

The -17.1% change in BBSI stock from 1/31/2026 to 5/3/2026 was primarily driven by a -17.6% change in the company's P/E Multiple.
(LTM values as of)13120265032026Change
Stock Price ($)37.8931.40-17.1%
Change Contribution By: 
Total Revenues ($ Mil)1,2241,2401.3%
Net Income Margin (%)4.5%4.4%-2.0%
P/E Multiple17.714.6-17.6%
Shares Outstanding (Mil)26251.3%
Cumulative Contribution-17.1%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 5/3/2026
ReturnCorrelation
BBSI-17.1% 
Market (SPY)3.6%14.2%
Sector (XLI)4.8%-9.5%

Fundamental Drivers

The -22.0% change in BBSI stock from 10/31/2025 to 5/3/2026 was primarily driven by a -23.5% change in the company's P/E Multiple.
(LTM values as of)103120255032026Change
Stock Price ($)40.2631.40-22.0%
Change Contribution By: 
Total Revenues ($ Mil)1,1991,2403.4%
Net Income Margin (%)4.5%4.4%-2.2%
P/E Multiple19.114.6-23.5%
Shares Outstanding (Mil)26250.9%
Cumulative Contribution-22.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 5/3/2026
ReturnCorrelation
BBSI-21.9% 
Market (SPY)5.5%22.1%
Sector (XLI)12.2%4.7%

Fundamental Drivers

The -21.9% change in BBSI stock from 4/30/2025 to 5/3/2026 was primarily driven by a -25.6% change in the company's P/E Multiple.
(LTM values as of)43020255032026Change
Stock Price ($)40.2031.40-21.9%
Change Contribution By: 
Total Revenues ($ Mil)1,1451,2408.4%
Net Income Margin (%)4.6%4.4%-5.2%
P/E Multiple19.714.6-25.6%
Shares Outstanding (Mil)26252.1%
Cumulative Contribution-21.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2025 to 5/3/2026
ReturnCorrelation
BBSI-21.8% 
Market (SPY)30.4%31.8%
Sector (XLI)33.6%19.4%

Fundamental Drivers

The 54.7% change in BBSI stock from 4/30/2023 to 5/3/2026 was primarily driven by a 23.1% change in the company's P/E Multiple.
(LTM values as of)43020235032026Change
Stock Price ($)20.2931.4054.7%
Change Contribution By: 
Total Revenues ($ Mil)1,0541,24017.6%
Net Income Margin (%)4.5%4.4%-2.1%
P/E Multiple11.914.623.1%
Shares Outstanding (Mil)28259.1%
Cumulative Contribution54.7%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2023 to 5/3/2026
ReturnCorrelation
BBSI54.8% 
Market (SPY)78.7%39.5%
Sector (XLI)80.9%40.2%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BBSI Return3%37%26%51%-16%-13%97%
Peers Return48%-16%22%-5%-34%-12%-15%
S&P 500 Return27%-19%24%23%16%5%92%

Monthly Win Rates [3]
BBSI Win Rate50%42%67%67%50%75% 
Peers Win Rate67%42%53%52%37%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
BBSI Max Drawdown-8%-15%-16%-6%-23%-26% 
Peers Max Drawdown-7%-28%-9%-21%-39%-31% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-7% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: PAYX, NSP, TNET, ADP, RHI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/1/2026 (YTD)

How Low Can It Go

EventBBSIS&P 500
2023 SVB Regional Banking Crisis
  % Loss-18.1%-6.7%
  % Gain to Breakeven22.1%7.1%
  Time to Breakeven103 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-15.2%-24.5%
  % Gain to Breakeven17.9%32.4%
  Time to Breakeven2 days427 days
2020 COVID-19 Crash
  % Loss-65.3%-33.7%
  % Gain to Breakeven188.2%50.9%
  Time to Breakeven569 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-17.8%-19.2%
  % Gain to Breakeven21.7%23.7%
  Time to Breakeven50 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-11.4%-3.7%
  % Gain to Breakeven12.8%3.9%
  Time to Breakeven7 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-34.7%-12.2%
  % Gain to Breakeven53.1%13.9%
  Time to Breakeven82 days62 days

Compare to PAYX, NSP, TNET, ADP, RHI

In The Past

Barrett Business Services's stock fell -8.1% during the 2025 US Tariff Shock. Such a loss loss requires a 8.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBBSIS&P 500
2020 COVID-19 Crash
  % Loss-65.3%-33.7%
  % Gain to Breakeven188.2%50.9%
  Time to Breakeven569 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-34.7%-12.2%
  % Gain to Breakeven53.1%13.9%
  Time to Breakeven82 days62 days
2014-2016 Oil Price Collapse
  % Loss-69.1%-6.8%
  % Gain to Breakeven223.8%7.3%
  Time to Breakeven755 days15 days
2008-2009 Global Financial Crisis
  % Loss-57.2%-53.4%
  % Gain to Breakeven133.8%114.4%
  Time to Breakeven984 days1085 days

Compare to PAYX, NSP, TNET, ADP, RHI

In The Past

Barrett Business Services's stock fell -8.1% during the 2025 US Tariff Shock. Such a loss loss requires a 8.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Barrett Business Services (BBSI)

Barrett Business Services, Inc. provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It 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. The company also 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. It serves electronics manufacturers, light-manufacturing industries, agriculture-based companies, transportation and shipping enterprises, food processors, telecommunications companies, public utilities, general contractors in various construction-related fields, and professional services firms. The company was incorporated in 1965 and is headquartered in Vancouver, Washington.

AI Analysis | Feedback

1. They're like a comprehensive HR, payroll, and workers' compensation outsourcing partner for small and mid-sized businesses, similar to a specialized version of ADP or Paychex that also acts as a co-employer.

2. They also operate like a staffing and recruiting firm, providing temporary and permanent employee placement, similar to companies like Robert Half.

AI Analysis | Feedback

  • Professional Employer Services (PEO): BBSI establishes a co-employment relationship with client companies, taking responsibility for payroll, payroll taxes, workers' compensation coverage, and other administrative functions for the client's existing workforce.
  • Staffing and Recruiting Services: BBSI provides various staffing solutions, including on-demand, short-term, contract, direct placement, and long-term on-site management services.

AI Analysis | Feedback

Barrett Business Services, Inc. (BBSI) provides services primarily to other companies, specifically small and mid-sized businesses. Due to the diversified nature of its client base, BBSI does not publicly disclose the names of specific major customer companies. Its business model involves serving a broad range of clients across various industries rather than relying on a few large customers. Instead, BBSI describes its customer base by the types of industries and companies it serves. These include:
  • Electronics manufacturers
  • Light-manufacturing industries
  • Agriculture-based companies
  • Transportation and shipping enterprises
  • Food processors
  • Telecommunications companies
  • Public utilities
  • General contractors in various construction-related fields
  • Professional services firms

AI Analysis | Feedback

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AI Analysis | Feedback

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Gary Kramer, President, Chief Executive Officer, and Director
Mr. Kramer joined BBSI as Chief Financial Officer in 2016 and was appointed Chief Executive Officer in March 2020. He has over 15 years of experience in the insurance industry, including 12 years with Chubb Limited, where he led the Global Services unit and previously served as divisional financial officer for ACE Financial Solutions.

Anthony Harris, Executive Vice President, Chief Financial Officer, and Treasurer
Mr. Harris joined BBSI in September 2016 as Controller, was promoted to Executive Director of Accounting and Finance in March 2018, and then to Chief Financial Officer in 2020. Before joining BBSI, Mr. Harris served as Controller for Holland Partner Group from 2015 to 2016. He also spent nine years with PricewaterhouseCoopers in various roles in the United States and Australia, supporting publicly traded and large privately held companies.

Gerald R. Blotz, Executive Vice President and Chief Operating Officer
Mr. Blotz joined BBSI in May 2002 as Area Manager of the San Jose branch office and was promoted to Vice President, Chief Operating Officer-Field Operations in May 2014. Prior to BBSI, Mr. Blotz was President and Chief Operating Officer of ProTrades Connection, where he was instrumental in building the company to 44 offices across four states.

James R. Potts, Executive Vice President and General Counsel, Secretary
Mr. Potts joined BBSI from Cozen O'Connor, a national law firm, where he co-chaired the Insurance Corporate and Regulatory Practice. He brings more than 25 years of legal experience representing clients across various industries.

Joseph S. Clabby, Chairman of the Board
Mr. Clabby was appointed Chairman of the Board of Directors in June 2025, succeeding Anthony Meeker, and was previously Vice Chairman of the Board starting in December 2024. He spent over two decades with ACE Limited and then Chubb following its merger with ACE, holding various senior executive positions, including board roles at several affiliated companies.
```

AI Analysis | Feedback

The key risks to Barrett Business Services (BBSI) primarily stem from its reliance on the economic health of its small and mid-sized business clients and the highly regulated nature of the human resources outsourcing and staffing industries.

  1. Economic Downturn and Client Business Performance

    BBSI's business is highly susceptible to macroeconomic conditions and the performance of its client companies. An economic downturn or periods of uncertainty can lead to a slowdown in client hiring, reduced demand for PEO services, and potential client attrition. Macroeconomic uncertainty, including factors such as trade negotiations and government initiatives, can result in slower client hiring and investment decisions. This direct correlation means that a significant economic contraction impacting client businesses could negatively affect BBSI's revenue and profitability.

  2. Regulatory and Compliance Risk

    Operating in the professional employer organization (PEO) and staffing sectors, BBSI is subject to extensive and evolving federal, state, and local regulations concerning labor laws, employment, payroll, taxes, and workers' compensation. Changes in these regulations, such as potential increases in workers' compensation rates (particularly in California), or other shifts in labor laws and tax policies, can pose significant threats to the company. Although BBSI aims to help its clients navigate complex compliance landscapes, such regulatory changes can increase BBSI's operational complexity and costs, leading to fines or legal challenges if not managed effectively.

  3. Competitive Pressures and Decline in Staffing Services Revenue

    BBSI faces competitive pressures, particularly within its staffing services segment. There has been an observed decline in staffing services revenue, indicating potential challenges in this market segment. This downturn in staffing revenue, which is typically a higher-margin service compared to their core PEO offerings, can contribute to overall margin pressure for the company. Monitoring industry trends and competitor strategies is crucial for BBSI to maintain competitiveness in this area.

AI Analysis | Feedback

The emergence and rapid advancement of highly integrated, AI-driven HR, payroll, and benefits administration platforms (e.g., Rippling, Gusto) represent a clear emerging threat. These platforms are increasingly capable of automating and simplifying complex administrative tasks such as payroll, tax compliance, benefits management, and even aspects of HR consulting and workers' compensation. As these technology-first solutions become more robust, comprehensive, and user-friendly, they could reduce the perceived need for small and mid-sized businesses to engage in a full co-employment relationship with a Professional Employer Organization (PEO) like BBSI or rely on traditional staffing services, allowing them to manage their workforce administration with greater independence and potentially lower costs.

AI Analysis | Feedback

Barrett Business Services, Inc. (BBSI) operates within two primary addressable markets in the United States: Professional Employer Organization (PEO) services and staffing and recruiting services.

For Professional Employer Organization (PEO) services, the addressable market in the U.S. was valued at approximately $14.8 billion (USD 14,826.12 million) in 2024 and is projected to reach approximately $94 billion (USD 93,978.54 million) by 2035.

For staffing and recruiting services, the addressable market in the U.S. had a revenue of $184 billion in 2024.

AI Analysis | Feedback

Barrett Business Services, Inc. (BBSI) anticipates several key drivers for its revenue growth over the next 2-3 years, primarily stemming from its core Professional Employer Organization (PEO) services. Here are the expected drivers:
  • Growth in Worksite Employees (WSEs) and New Client Additions: The company consistently highlights that an increase in worksite employees, driven by strong new client additions, is a primary catalyst for PEO gross billings growth. BBSI reported record growth in its worksite employee base, with projections for WSEs to increase between 2% and 4% in 2026.
  • Expansion of PEO Services and Health Benefits Products: Solid demand within its PEO services, particularly with promising prospects in health benefits products, is expected to contribute to revenue growth. BBSI has successfully added participants to its benefits products, with a high renewal rate.
  • Geographic Expansion and Asset-Light Model: BBSI is focused on expanding its asset-light model into new geographies and converting emerging markets into traditional branches. This includes opening new branches in strategic locations such as Chicago, Dallas, and Nashville, which broadens its market presence.
  • Technological Advancements and New Product Launches: Investments in technology are leading to the launch of new products and services designed to enhance the client experience and operational efficiency. Examples include the launch of an employee file cabinet HRIS module and the upcoming beta release of a performance management module in Q2 2026, which are expected to strengthen the service model.
  • Strong Client Retention: High client retention rates are a consistent positive indicator for BBSI, contributing to sustained PEO gross billings growth. The company reported a 93% client retention rate for its benefits products.

AI Analysis | Feedback

Share Repurchases

  • In August 2025, BBSI's Board of Directors authorized a new $100 million stock repurchase program over a two-year period, replacing the previous July 2023 program.
  • In 2025, the company repurchased $42 million of its stock.
  • As of December 31, 2025, approximately $75 million remained available under the $100 million repurchase program.

Share Issuance

  • In April 2024, the board approved a four-for-one stock split in the form of a stock dividend.
  • This stock split, distributed in June 2024, required an increase in the authorized shares of common stock from 20,500,000 to 82,000,000.

Capital Expenditures

  • Capital expenditures for the last 12 months (leading up to late 2025/early 2026) were approximately $18.78 million.
  • The company made strategic investments in 2025 in technology for product development and in sales teams for asset-light expansion.
  • For 2026, BBSI plans to continue investments in IT product enhancements, leveraging modern systems and AI tools, and to convert three additional locations to traditional branches for geographic expansion.

Better Bets vs. Barrett Business Services (BBSI)

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Barrett Business Services Earnings Notes12/16/2025
2How Low Can Barrett Business Services Stock Really Go?10/17/2025
3Why Barrett Business Services Stock Moved: BBSI Stock Has Gained 119% Since 2021 Fiscal End, Primarily Due To Favorable Change In Revenues08/08/2025
4BBSI Dip Buy Analysis07/10/2025
5Should You Buy Barrett Business Services Stock?05/16/2025
6Barrett Business Services (BBSI) Valuation Ratios Comparison05/15/2025
7Barrett Business Services Total Shareholder Return (TSR): 52.3% in 2024 and 38.6% 3-yr compounded annual returns (above peer average)03/07/2025
8Barrett Business Services (BBSI) Operating Cash Flow Comparison02/17/2025
9Barrett Business Services (BBSI) Net Income Comparison02/15/2025
10Barrett Business Services (BBSI) Operating Income Comparison02/14/2025
11ARTICLES 
12Stocks Trading At 52-Week Low11/08/2025

Trade Ideas

Select ideas related to BBSI.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
GEO_4302026_Dip_Buyer_ValueBuy04302026GEOGEODip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.0%0.0%0.0%
RUN_4302026_Short_Squeeze04302026RUNSunrunSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		0.0%0.0%0.0%
RSG_4172026_Monopoly_xInd_xCD_Getting_Cheaper04172026RSGRepublic ServicesMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.8%0.8%-1.1%
VRSK_4102026_Dip_Buyer_FCFYield04102026VRSKVerisk AnalyticsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		12.3%12.3%0.0%
UHAL_4102026_Monopoly_xInd_xCD_Getting_Cheaper04102026UHALU-HaulMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple		0.3%0.3%-1.0%

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Peer Comparisons

Peers to compare with:

Financials

BBSIPAYXNSPTNETADPRHIMedian
NameBarrett .Paychex InsperityTrinet Automati.Robert H. 
Mkt Price31.4093.0228.5244.44214.0927.0537.92
Mkt Cap0.833.41.12.186.02.72.4
Rev LTM1,2406,3346,8444,94421,6005,3275,830
Op Inc LTM622,337-162805,72774177
FCF LTM472,090672784,841218248
FCF 3Y Avg331,875753724,190345358
CFO LTM662,320983575,452267312
CFO 3Y Avg482,0641114494,765396423

Growth & Margins

BBSIPAYXNSPTNETADPRHIMedian
NameBarrett .Paychex InsperityTrinet Automati.Robert H. 
Rev Chg LTM8.4%16.4%3.0%-2.4%6.9%-6.1%5.0%
Rev Chg 3Y Avg5.6%8.9%3.8%0.1%6.9%-9.2%4.7%
Rev Chg Q5.3%19.9%1.7%-5.1%7.0%-3.8%3.5%
QoQ Delta Rev Chg LTM1.3%5.0%0.5%-1.3%1.8%-1.0%0.9%
Op Inc Chg LTM4.0%3.5%-120.8%1.1%7.9%-68.9%2.3%
Op Inc Chg 3Y Avg1.8%5.8%-69.3%-13.2%10.0%-53.6%-5.7%
Op Mgn LTM5.0%36.9%-0.2%5.7%26.5%1.4%5.3%
Op Mgn 3Y Avg5.3%39.9%1.4%7.1%26.2%3.9%6.2%
QoQ Delta Op Mgn LTM-0.2%-0.2%-0.1%0.2%0.2%-0.0%-0.1%
CFO/Rev LTM5.3%36.6%1.4%7.2%25.2%5.0%6.3%
CFO/Rev 3Y Avg4.2%36.5%1.7%9.0%23.5%6.8%7.9%
FCF/Rev LTM3.8%33.0%1.0%5.6%22.4%4.1%4.9%
FCF/Rev 3Y Avg2.9%33.2%1.1%7.4%20.6%5.9%6.7%

Valuation

BBSIPAYXNSPTNETADPRHIMedian
NameBarrett .Paychex InsperityTrinet Automati.Robert H. 
Mkt Cap0.833.41.12.186.02.72.4
P/S0.65.30.20.44.00.50.6
P/Op Inc12.814.3-67.77.515.036.213.5
P/EBIT11.113.898.57.514.136.213.9
P/E14.620.4-43.413.119.820.817.2
P/CFO12.114.411.15.815.810.111.6
Total Yield7.1%9.6%4.0%10.1%8.0%13.7%8.8%
Dividend Yield0.3%4.7%6.3%2.5%3.0%8.9%3.8%
FCF Yield 3Y Avg4.0%4.5%3.5%10.3%4.2%6.8%4.4%
D/E0.00.20.40.50.00.10.1
Net D/E-0.20.1-0.10.30.0-0.00.0

Returns

BBSIPAYXNSPTNETADPRHIMedian
NameBarrett .Paychex InsperityTrinet Automati.Robert H. 
1M Rtn6.2%1.4%-2.8%17.6%4.9%7.0%5.5%
3M Rtn-17.1%-9.8%-31.4%-26.9%-12.5%-19.8%-18.5%
6M Rtn-22.0%-18.9%-32.4%-25.0%-16.5%8.3%-20.5%
12M Rtn-24.6%-35.7%-54.5%-43.6%-27.7%-35.7%-35.7%
3Y Rtn64.9%-4.6%-72.8%-48.9%7.3%-54.1%-26.7%
1M Excs Rtn-1.3%-7.6%-4.5%13.7%-3.6%-0.3%-2.4%
3M Excs Rtn-21.3%-14.0%-35.6%-31.1%-16.7%-24.0%-22.7%
6M Excs Rtn-26.6%-24.1%-34.7%-28.1%-21.8%-1.6%-25.3%
12M Excs Rtn-51.7%-64.4%-83.0%-71.9%-56.8%-64.0%-64.2%
3Y Excs Rtn-20.7%-81.2%-151.6%-122.1%-69.4%-134.5%-101.7%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Professional employer services1,063982937844777
Staffing services8187117111103
Total1,1451,0691,054955881


Price Behavior

Price Behavior
Market Price$31.42 
Market Cap ($ Bil)0.8 
First Trading Date06/14/1993 
Distance from 52W High-35.8% 
   50 Days200 Days
DMA Price$29.26$37.75
DMA Trenddowndown
Distance from DMA7.4%-16.8%
 3M1YR
Volatility45.6%33.6%
Downside Capture1.120.68
Upside Capture71.3957.47
Correlation (SPY)12.9%31.3%
BBSI Betas & Captures as of 4/30/2026

 1M2M3M6M1Y3Y
Beta-0.50-0.020.400.680.850.69
Up Beta-0.82-0.86-0.600.050.680.56
Down Beta-3.20-0.51-0.860.350.890.64
Up Capture24%67%69%61%50%55%
Bmk +ve Days15223166141428
Stock +ve Days14263769134404
Down Capture104%22%157%136%122%94%
Bmk -ve Days4183056108321
Stock -ve Days8172755117346

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with BBSI
BBSI-21.9%33.5%-0.69-
Sector ETF (XLI)33.7%15.4%1.6819.4%
Equity (SPY)30.6%12.5%1.8831.8%
Gold (GLD)39.5%27.2%1.20-12.9%
Commodities (DBC)51.5%17.9%2.20-2.6%
Real Estate (VNQ)13.1%13.5%0.6721.5%
Bitcoin (BTCUSD)-17.1%42.2%-0.3322.6%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with BBSI
BBSI14.1%27.6%0.49-
Sector ETF (XLI)13.0%17.4%0.5945.2%
Equity (SPY)12.8%17.1%0.5941.8%
Gold (GLD)20.5%17.9%0.94-3.3%
Commodities (DBC)14.3%19.1%0.619.1%
Real Estate (VNQ)3.5%18.8%0.0937.9%
Bitcoin (BTCUSD)7.7%56.2%0.3518.3%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with BBSI
BBSI16.1%36.4%0.52-
Sector ETF (XLI)13.8%19.9%0.6148.9%
Equity (SPY)14.9%17.9%0.7144.8%
Gold (GLD)13.6%15.9%0.71-4.5%
Commodities (DBC)9.7%17.7%0.4618.3%
Real Estate (VNQ)5.7%20.7%0.2441.3%
Bitcoin (BTCUSD)67.7%66.9%1.0711.5%

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Short Interest

Short Interest: As Of Date4152026
Short Interest: Shares Quantity0.5 Mil
Short Interest: % Change Since 3312026-36.3%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest2.7 days
Basic Shares Quantity25.4 Mil
Short % of Basic Shares2.0%

Returns Analyses

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
2/25/2026-14.7%-7.5%-6.4%
11/5/2025-14.2%-14.4%-15.6%
8/6/20255.6%7.6%8.6%
5/7/2025-0.9%2.0%3.9%
2/26/2025-0.5%-3.1%3.4%
11/6/20242.0%5.4%8.1%
7/31/20240.6%-5.2%-0.5%
2/28/20245.7%3.1%10.1%
...
SUMMARY STATS   
# Positive101212
# Negative977
Median Positive5.6%6.5%8.4%
Median Negative-5.7%-5.9%-6.4%
Max Positive16.4%19.5%27.1%
Max Negative-14.7%-14.4%-18.2%

SEC Filings

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Report DateFiling DateFiling
12/31/202502/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/28/202510-K
09/30/202411/07/202410-Q
06/30/202408/01/202410-Q
03/31/202405/02/202410-Q
12/31/202303/01/202410-K
09/30/202311/02/202310-Q
06/30/202308/03/202310-Q
03/31/202305/04/202310-Q
12/31/202203/06/202310-K
09/30/202211/03/202210-Q
06/30/202208/04/202210-Q
03/31/202205/05/202210-Q

Recent Forward Guidance [BETA]

Latest: Q4 2025 Earnings Reported 2/25/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2026 Gross Billings Growth3.0%4.0%5.0%-55.6% LoweredGuidance: 9.0% for 2025
2026 Average WSEs Growth2.0%3.0%4.0%-57.1% LoweredGuidance: 7.0% for 2025
2026 Gross Margin2.7%2.78%2.85%-5.9%-0.2%LoweredGuidance: 2.95% for 2025
2026 Effective Annual Tax Rate26.0%26.5%27.0%0 AffirmedGuidance: 26.5% for 2025

Prior: Q3 2025 Earnings Reported 11/5/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
2025 Gross billings growth8.5%9.0%9.5%-5.3%-0.5%LoweredGuidance: 9.5% for 2025
2025 Growth in the average number of WSEs6.0%7.0%8.0%00AffirmedGuidance: 7.0% for 2025
2025 Gross margin as a percent of gross billings2.9%2.95%3.0%-0.8%-0.2%LoweredGuidance: 2.98% for 2025
2025 Effective annual tax rate26.0%26.5%27.0%00AffirmedGuidance: 26.5% for 2025

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Finn, Mark StevenDirectBuy326202629.401,00029,396586,254Form
2Finn, Mark StevenDirectBuy320202627.8850013,940528,131Form
3Finn, Mark StevenDirectBuy320202627.9350013,962515,021Form
4Potts, James REVP Gen Counsel & SecretaryDirectSell318202628.681,80351,710970,445Form
5Kramer, GaryPresident & CEODirectBuy316202626.898,370225,0688,841,393Form

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