Bright Horizons Family Solutions Inc. (BFAM) 10-Year Financial Performance & Capital Metrics

BFAM • • Industrial / General

Consumer CyclicalPersonal ServicesSpecialized Professional ServicesChildcare & Education Services

AboutBright Horizons Family Solutions Inc. provides early education and child care, back-up care, educational advisory, and other workplace solutions services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services. The Full Service Center-Based Child Care segment offers traditional center-based child care and early education, preschool, and elementary education services. The Back-Up Care segment provides center-based back-up child care, in-home child and adult/elder dependent care, school-age camps, virtual tutoring, and self-sourced reimbursed care services through child care centers, school-age campuses, and in-home caregivers, as well as the back-up care network. The Educational Advisory and Other Services segment offers tuition assistance and student loan repayment program administration, workforce education, and related educational consulting services, as well as college admissions advisory services. As of December 31, 2021, it operated 1,014 child care and early education centers in the United States, Puerto Rico, the United Kingdom, Canada, the Netherlands, and India. The company was formerly known as Bright Horizons Solutions Corp. and changed its name to Bright Horizons Family Solutions Inc. in July 2012. Bright Horizons Family Solutions Inc. was founded in 1986 and is headquartered in Newton, Massachusetts.Show more

Revenue $2.69B +11.1%
EBITDA $345M +22.2%
Net Income $140M +89.3%
EPS (Diluted) 2.40 +87.5%
Gross Margin 23.07% +4.9%
EBITDA Margin 12.83% +10.0%
Operating Margin 9.18% +29.7%
Net Margin 5.22% +70.4%
ROE 11.26% +74.3%
ROIC 6.21% +45.2%
Debt/Equity 1.40 -8.6%
Interest Coverage 5.06 +52.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y7.1%

5Y5.43%

3Y15.24%

TTM9.33%

Profit (Net Income) CAGR

10Y6.89%

5Y-4.92%

3Y25.78%

TTM71.97%

EPS CAGR

10Y8.41%

5Y-4.68%

3Y27.79%

TTM73.94%

ROCE

10Y Avg7.8%

5Y Avg4.95%

3Y Avg6.28%

Latest8%

Peer Comparison

Childcare & Education Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BFAMBright Horizons Family Solutions Inc.	5.49B	97.01	40.42	11.07%	6.98%	14.05%	4.38%	1.40

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.46B	1.57B	1.74B	1.9B	2.06B	1.52B	1.76B	2.02B	2.42B	2.69B
Revenue Growth %	0.08%	0.08%	0.11%	0.09%	0.08%	-0.27%	0.16%	0.15%	0.2%	0.11%
Cost of Goods Sold+	1.1B	1.18B	1.31B	1.43B	1.54B	1.21B	1.34B	1.54B	1.89B	2.07B
COGS % of Revenue	0.75%	0.75%	0.75%	0.75%	0.75%	0.8%	0.76%	0.76%	0.78%	0.77%
Gross Profit+	357.75M	390.85M	430.61M	473.25M	522.94M	304.55M	415.01M	478.65M	531.72M	619.61M
Gross Margin %	0.25%	0.25%	0.25%	0.25%	0.25%	0.2%	0.24%	0.24%	0.22%	0.23%
Gross Profit Growth %	0.14%	0.09%	0.1%	0.1%	0.1%	-0.42%	0.36%	0.15%	0.11%	0.17%
Operating Expenses+	176.15M	193.61M	225.17M	234.16M	255.12M	251.22M	285.99M	321.07M	360.48M	372.99M
OpEx % of Revenue	0.12%	0.12%	0.13%	0.12%	0.12%	0.17%	0.16%	0.16%	0.15%	0.14%
Selling, General & Admin	148.16M	163.97M	188.94M	201.59M	221.5M	219.56M	256.82M	289.16M	327.07M	354.64M
SG&A % of Revenue	0.1%	0.1%	0.11%	0.11%	0.11%	0.14%	0.15%	0.14%	0.14%	0.13%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	27.99M	29.64M	36.23M	32.57M	33.62M	31.65M	29.17M	31.91M	33.41M	18.34M
Operating Income+	181.6M	197.24M	205.44M	239.09M	267.82M	53.33M	129.02M	157.59M	171.24M	246.62M
Operating Margin %	0.12%	0.13%	0.12%	0.13%	0.13%	0.04%	0.07%	0.08%	0.07%	0.09%
Operating Income Growth %	0.24%	0.09%	0.04%	0.16%	0.12%	-0.8%	1.42%	0.22%	0.09%	0.44%
EBITDA+	260.27M	282.52M	300.21M	340.04M	376.09M	165M	237.85M	263.73M	281.92M	344.54M
EBITDA Margin %	0.18%	0.18%	0.17%	0.18%	0.18%	0.11%	0.14%	0.13%	0.12%	0.13%
EBITDA Growth %	0.16%	0.09%	0.06%	0.13%	0.11%	-0.56%	0.44%	0.11%	0.07%	0.22%
D&A (Non-Cash Add-back)	78.67M	85.28M	94.78M	100.94M	108.27M	111.66M	108.83M	106.14M	110.68M	97.92M
EBIT	181.6M	186.12M	205.44M	239.09M	267.82M	53.33M	126.45M	151.67M	171.24M	246.62M
Net Interest Income+	-41.45M	-42.92M	-44.04M	-47.51M	-45.15M	-37.68M	-36.1M	-39.49M	-51.61M	-48.76M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	41.45M	42.92M	44.04M	47.51M	45.15M	37.68M	36.1M	39.49M	51.61M	48.76M
Other Income/Expense	-41.45M	-54.04M	-44.04M	-47.51M	-45.15M	-37.68M	-38.67M	-45.4M	-51.61M	-48.76M
Pretax Income+	140.16M	143.2M	161.4M	191.59M	222.66M	15.65M	90.35M	112.18M	119.63M	197.86M
Pretax Margin %	0.1%	0.09%	0.09%	0.1%	0.11%	0.01%	0.05%	0.06%	0.05%	0.07%
Income Tax+	46.23M	48.44M	4.44M	33.61M	42.28M	-11.34M	19.89M	31.54M	45.41M	57.67M
Effective Tax Rate %	0.67%	0.66%	0.97%	0.82%	0.81%	1.72%	0.78%	0.72%	0.62%	0.71%
Net Income+	93.93M	94.76M	156.96M	157.98M	180.39M	26.99M	70.46M	80.64M	74.05M	140.19M
Net Margin %	0.06%	0.06%	0.09%	0.08%	0.09%	0.02%	0.04%	0.04%	0.03%	0.05%
Net Income Growth %	0.3%	0.01%	0.66%	0.01%	0.14%	-0.85%	1.61%	0.14%	-0.08%	0.89%
Net Income (Continuing)	93.93M	94.76M	156.96M	157.98M	180.39M	26.99M	70.46M	80.64M	74.22M	140.19M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.50	1.55	2.59	2.68	3.05	0.45	1.15	1.37	1.28	2.40
EPS Growth %	0.4%	0.03%	0.67%	0.03%	0.14%	-0.85%	1.56%	0.19%	-0.07%	0.88%
EPS (Basic)	1.53	1.59	2.65	2.73	3.10	0.45	1.16	1.38	1.28	2.42
Diluted Shares Outstanding	62.36M	60.59M	60.25M	59M	58.95M	60.31M	60.87M	58.49M	57.93M	58.47M
Basic Shares Outstanding	60.84M	59.23M	58.87M	57.81M	57.84M	59.53M	60.31M	58.34M	57.72M	57.93M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	154.93M	160.05M	192.46M	193.89M	228.89M	624.18M	540.27M	347.71M	446.9M	496.03M
Cash & Short-Term Investments	11.54M	14.63M	23.23M	15.45M	44.92M	405.84M	283.69M	53.92M	93.57M	122.03M
Cash Only	11.54M	12.86M	23.23M	15.45M	27.87M	384.34M	260.98M	36.22M	71.57M	110.33M
Short-Term Investments	0	0	0	0	17.05M	21.49M	22.71M	17.7M	22M	11.7M
Accounts Receivable	97.3M	97.21M	117.14M	131.18M	148.85M	184.99M	210.97M	217.17M	281.71M	283.34M
Days Sales Outstanding	24.35	22.6	24.56	25.16	26.35	44.57	43.87	39.23	42.52	38.5
Inventory	0	0	0	0	0	0	0	73.27M	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	17.34	-	-
Other Current Assets	2.45M	6.1M	9.53M	11.07M	21.1M	4.12M	25.03M	-26.76M	38.16M	30.88M
Total Non-Current Assets+	2B	2.21B	2.28B	2.33B	3.1B	3.1B	3.1B	3.45B	3.45B	3.35B
Property, Plant & Equipment	429.74M	529.43M	575.18M	597.14M	1.34B	1.35B	1.29B	1.37B	1.35B	1.3B
Fixed Asset Turnover	3.39x	2.97x	3.03x	3.19x	1.54x	1.13x	1.36x	1.47x	1.79x	2.07x
Goodwill	1.15B	1.27B	1.31B	1.35B	1.41B	1.43B	1.48B	1.73B	1.79B	1.76B
Intangible Assets	389.33M	374.57M	348.54M	323.04M	304.67M	274.62M	251.03M	245.57M	216.58M	197.57M
Long-Term Investments	0	0	0	0	0	0	13.27M	24.1M	16.68M	33.58M
Other Non-Current Assets	30.95M	32.91M	45.67M	62.63M	46.88M	49.3M	59.19M	80.53M	75.58M	61.62M
Total Assets+	2.15B	2.37B	2.47B	2.52B	3.33B	3.73B	3.64B	3.8B	3.9B	3.85B
Asset Turnover	0.68x	0.66x	0.71x	0.75x	0.62x	0.41x	0.48x	0.53x	0.62x	0.70x
Asset Growth %	0%	0.1%	0.04%	0.02%	0.32%	0.12%	-0.02%	0.04%	0.03%	-0.01%
Total Current Liabilities+	307.56M	396.89M	460.65M	483.79M	483.29M	530.81M	622.17M	786.29M	799.43M	779.4M
Accounts Payable	26.94M	26.17M	31.72M	16.21M	17.82M	29.96M	8.5M	24.65M	24.8M	32.84M
Days Payables Outstanding	8.93	8.1	8.84	4.14	4.23	9.03	2.32	5.83	4.8	5.8
Short-Term Debt	33.55M	86.75M	137.85M	128.95M	10.75M	10.75M	16M	100M	18.5M	28.5M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	1.21M	6.17M	-3.18M	16.96M	5.73M	0	107.29M	238.88M	256.99M	12.32M
Current Ratio	0.50x	0.40x	0.42x	0.40x	0.47x	1.18x	0.87x	0.44x	0.56x	0.64x
Quick Ratio	0.50x	0.40x	0.42x	0.40x	0.47x	1.18x	0.87x	0.35x	0.56x	0.64x
Cash Conversion Cycle	-	-	-	-	-	-	-	50.74	-	-
Total Non-Current Liabilities+	1.12B	1.28B	1.26B	1.26B	1.88B	1.91B	1.84B	1.93B	1.88B	1.79B
Long-Term Debt	905.66M	1.05B	1.05B	1.04B	1.03B	1.02B	976.4M	961.58M	944.26M	918.45M
Capital Lease Obligations	0	0	0	71.82M	685.91M	729.75M	703.91M	810.4M	796.7M	743.56M
Deferred Tax Liabilities	113.1M	111.71M	74.07M	71.31M	58.94M	45.95M	48.51M	50.74M	33.16M	20.3M
Other Non-Current Liabilities	82.15M	97.21M	130.67M	75.37M	92.86M	105.98M	100.09M	100.47M	101.26M	94.5M
Total Liabilities	1.42B	1.68B	1.72B	1.74B	2.36B	2.44B	2.46B	2.72B	2.68B	2.57B
Total Debt+	939.21M	1.14B	1.18B	1.17B	1.81B	1.85B	1.78B	1.97B	1.86B	1.79B
Net Debt	927.67M	1.13B	1.16B	1.15B	1.78B	1.46B	1.52B	1.93B	1.79B	1.68B
Debt / Equity	1.29x	1.66x	1.58x	1.50x	1.86x	1.44x	1.51x	1.82x	1.53x	1.40x
Debt / EBITDA	3.61x	4.04x	3.94x	3.43x	4.81x	11.20x	7.50x	7.45x	6.60x	5.20x
Net Debt / EBITDA	3.56x	3.99x	3.87x	3.38x	4.73x	8.87x	6.40x	7.32x	6.34x	4.88x
Interest Coverage	4.38x	4.60x	4.66x	5.03x	5.93x	1.42x	3.57x	3.99x	3.32x	5.06x
Total Equity+	727.61M	687.87M	749.06M	779.48M	971.27M	1.28B	1.18B	1.08B	1.21B	1.28B
Equity Growth %	-0.03%	-0.05%	0.09%	0.04%	0.25%	0.32%	-0.08%	-0.08%	0.12%	0.05%
Book Value per Share	11.67	11.35	12.43	13.21	16.48	21.29	19.37	18.47	20.93	21.86
Total Shareholders' Equity	727.61M	687.87M	749.06M	779.48M	971.27M	1.28B	1.18B	1.08B	1.21B	1.28B
Common Stock	60K	59K	58K	57K	58K	60K	59K	58K	58K	57K
Retained Earnings	-216.58M	-121.82M	35.14M	193.12M	373.51M	400.5M	470.96M	551.6M	625.83M	766.02M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-39.27M	-89.45M	-33.3M	-62.35M	-50.33M	-27.07M	-37.36M	-70.63M	-59.1M	-110.3M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	171.08M	211.52M	236.27M	294.75M	330.35M	209.57M	227.25M	188.47M	256.14M	337.46M
Operating CF Margin %	0.12%	0.13%	0.14%	0.15%	0.16%	0.14%	0.13%	0.09%	0.11%	0.13%
Operating CF Growth %	-0.02%	0.24%	0.12%	0.25%	0.12%	-0.37%	0.08%	-0.17%	0.36%	0.32%
Net Income	93.93M	94.76M	156.96M	157.98M	180.39M	26.99M	70.46M	80.64M	74.05M	140.19M
Depreciation & Amortization	78.67M	85.28M	94.78M	100.94M	108.27M	111.66M	108.83M	106.14M	110.68M	97.92M
Stock-Based Compensation	9.2M	11.65M	12.07M	13.81M	17.28M	21M	23.06M	28.11M	28.83M	33.62M
Deferred Taxes	-758K	-12.12M	-37.56M	-5.47M	-11.34M	-12.28M	-5M	-9.64M	-11.72M	-9.93M
Other Non-Cash Items	6.9M	17.05M	10.66M	3.82M	-555K	31.75M	22.85M	23.4M	48.57M	41.38M
Working Capital Changes	-16.86M	14.9M	-639K	23.66M	36.31M	30.44M	7.05M	-40.18M	5.72M	34.29M
Change in Receivables	-13.66M	-78K	-18.69M	-14.5M	-15.72M	-27.47M	-34.62M	-4.88M	-64.5M	-993K
Change in Inventory	-6.9M	3.71M	2.82M	10.17M	8.2M	10.82M	-6.24M	0	0	0
Change in Payables	-6.45M	-6.86M	5.91M	15.91M	9.03M	23M	6.24M	19.96M	26M	30.64M
Cash from Investing+	-156.39M	-302.84M	-105.32M	-158.54M	-189.07M	-83.83M	-117.39M	-278.05M	-126.94M	-117.76M
Capital Expenditures	-77.73M	-74.1M	-83.84M	-91.43M	-104.77M	-84.74M	-63.49M	-70.56M	-91.02M	-97.31M
CapEx % of Revenue	0.05%	0.05%	0.05%	0.05%	0.05%	0.06%	0.04%	0.03%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	1.83M	-3M	11.91M	5.83M	4.63M	225K	2.04M
Cash from Financing+	-90.58M	93.75M	-123.86M	-134.19M	-149.13M	229M	-230.03M	-121.34M	-91.63M	-183.81M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	19.21M	15.91M	-4.71M	-10.8M	-15.53M	22.61M	-11.31M	-6.77M	-2.82M	-109.22M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	93.34M	137.42M	152.44M	203.31M	225.59M	124.83M	163.76M	117.92M	165.12M	240.15M
FCF Margin %	0.06%	0.09%	0.09%	0.11%	0.11%	0.08%	0.09%	0.06%	0.07%	0.09%
FCF Growth %	-0.14%	0.47%	0.11%	0.33%	0.11%	-0.45%	0.31%	-0.28%	0.4%	0.45%
FCF per Share	1.50	2.27	2.53	3.45	3.83	2.07	2.69	2.02	2.85	4.11
FCF Conversion (FCF/Net Income)	1.82x	2.23x	1.51x	1.87x	1.83x	7.76x	3.23x	2.34x	3.46x	2.41x
Interest Paid	38.11M	37.09M	44.46M	46.12M	43.05M	35.35M	32.24M	40.87M	74M	73.9M
Taxes Paid	49.82M	34.67M	31.29M	41.94M	50.55M	10.98M	31.66M	50.2M	58.74M	75.65M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	12.71%	13.39%	21.85%	20.67%	20.61%	2.39%	5.72%	7.14%	6.46%	11.26%
Return on Invested Capital (ROIC)	8.41%	8.52%	8.27%	9.34%	8.58%	1.46%	3.55%	4.14%	4.27%	6.21%
Gross Margin	24.53%	24.9%	24.73%	24.87%	25.36%	20.1%	23.64%	23.69%	21.99%	23.07%
Net Margin	6.44%	6.04%	9.02%	8.3%	8.75%	1.78%	4.01%	3.99%	3.06%	5.22%
Debt / Equity	1.29x	1.66x	1.58x	1.50x	1.86x	1.44x	1.51x	1.82x	1.53x	1.40x
Interest Coverage	4.38x	4.60x	4.66x	5.03x	5.93x	1.42x	3.57x	3.99x	3.32x	5.06x
FCF Conversion	1.82x	2.23x	1.51x	1.87x	1.83x	7.76x	3.23x	2.34x	3.46x	2.41x
Revenue Growth	7.79%	7.64%	10.9%	9.32%	8.35%	-26.52%	15.85%	15.11%	19.69%	11.07%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Full Service Center Based Care	1.24B	1.32B	1.46B	-	-	1.03B	3.89B	4.48B	1.78B	1.96B
Full Service Center Based Care Growth	-	6.87%	10.29%	-	-	-	277.00%	15.15%	-60.27%	10.17%
Backup Dependent Care	181.57M	200.11M	224.26M	245.5M	296.33M	1.16B	1.05B	1.23B	516.41M	610.11M
Backup Dependent Care Growth	-	10.21%	12.07%	9.47%	20.71%	293.10%	-9.58%	16.65%	-57.97%	18.15%
Educational Advisory And Other Services	-	-	-	-	-	283.6M	320.99M	351.52M	121.23M	114.12M
Educational Advisory And Other Services Growth	-	-	-	-	-	-	13.18%	9.51%	-65.51%	-5.87%
Other Educational Advisory Services	40.11M	48.04M	58.89M	71.36M	81.68M	-	-	-	-	-
Other Educational Advisory Services Growth	-	19.76%	22.59%	21.18%	14.46%	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
North America	1.18B	1.28B	1.35B	1.46B	1.59B	1.16B	1.29B	1.5B	1.76B	1.94B
North America Growth	-	7.99%	5.94%	7.56%	8.93%	-26.57%	11.09%	16.11%	17.26%	10.02%
International	275.82M	292.68M	387.87M	447.83M	476.75M	351.04M	462.2M	519.06M	657.72M	749.09M
International Growth	-	6.11%	32.53%	15.46%	6.46%	-26.37%	31.67%	12.30%	26.71%	13.89%

Frequently Asked Questions

Valuation & Price

Bright Horizons Family Solutions Inc. (BFAM) has a price-to-earnings (P/E) ratio of 40.4x. This suggests investors expect higher future growth.

Growth & Financials

Bright Horizons Family Solutions Inc. (BFAM) reported $2.87B in revenue for fiscal year 2024. This represents a 195% increase from $973.7M in 2011.

Bright Horizons Family Solutions Inc. (BFAM) grew revenue by 11.1% over the past year. This is steady growth.

Yes, Bright Horizons Family Solutions Inc. (BFAM) is profitable, generating $200.5M in net income for fiscal year 2024 (5.2% net margin).

Dividend & Returns

Bright Horizons Family Solutions Inc. (BFAM) has a return on equity (ROE) of 11.3%. This is reasonable for most industries.

Bright Horizons Family Solutions Inc. (BFAM) generated $232.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...