TrueBlue, Inc. (TBI) 10-Year Financial Performance & Capital Metrics

TBI • • Industrial / General

IndustrialsStaffing & HRIndustrial & General StaffingIndustrial & Blue-Collar Staffing

AboutTrueBlue, Inc., together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers contingent staffing solutions for blue-collar, on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, and general labor industries. The PeopleManagement segment provides contingent labor and outsourced industrial workforce solutions. This segment also offers on-site management and recruitment for the contingent industrial workforce of manufacturing, warehouse, and distribution facilities; and recruitment and management of contingent and dedicated commercial drivers to the transportation and distribution industries under the Staff Management, SIMOS Insourcing Solutions, and Centerline Drivers brands. The PeopleScout segment offers permanent employee recruitment process outsourcing services; and manages clients' contingent labor programs comprising vendor selection, performance management, compliance monitoring, and risk management. The company was formerly known as Labor Ready, Inc. and changed its name to TrueBlue, Inc. in December 2007. TrueBlue, Inc. was incorporated in 1985 and is headquartered in Tacoma, Washington.Show more

Revenue $1.57B -17.8%
EBITDA -$63M -3307.2%
Net Income -$126M -787.2%
EPS (Diluted) -4.17 -826.7%
Gross Margin 25.93% -2.3%
EBITDA Margin -4.03% -4000.5%
Operating Margin -5.92% -373.1%
Net Margin -8.02% -979.0%
ROE -32.53% -994.9%
ROIC -17.04% -349.7%
Debt/Equity 0.21 +57.5%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 3.6% through buybacks
✓Trading at only 0.5x book value
✓Efficient asset utilization: 2.3x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Sales declining 7.9% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.22%

5Y-7.93%

3Y-10.33%

TTM-13.01%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM68.94%

EPS CAGR

10Y-

5Y-

3Y-

TTM67.88%

ROCE

10Y Avg1.11%

5Y Avg-4.34%

3Y Avg-3.09%

Latest-15.33%

Peer Comparison

Industrial & Blue-Collar Staffing

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HQIHireQuest, Inc.	154.05M	10.96	42.15	-8.67%	21.92%	10.24%	7.77%	0.11
TBITrueBlue, Inc.	150.3M	5.02	-1.20	-17.78%	-2.21%	-11.09%		0.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.7B	2.75B	2.51B	2.5B	2.37B	1.85B	2.17B	2.25B	1.91B	1.57B
Revenue Growth %	0.24%	0.02%	-0.09%	-0%	-0.05%	-0.22%	0.18%	0.04%	-0.15%	-0.18%
Cost of Goods Sold+	2.06B	2.07B	1.87B	1.83B	1.75B	1.41B	1.61B	1.65B	1.4B	1.16B
COGS % of Revenue	0.76%	0.75%	0.75%	0.73%	0.74%	0.76%	0.74%	0.73%	0.73%	0.74%
Gross Profit+	635.67M	679.72M	634.47M	665.6M	619.95M	440.64M	560.32M	602.14M	506.06M	406.39M
Gross Margin %	0.24%	0.25%	0.25%	0.27%	0.26%	0.24%	0.26%	0.27%	0.27%	0.26%
Gross Profit Growth %	0.18%	0.07%	-0.07%	0.05%	-0.07%	-0.29%	0.27%	0.07%	-0.16%	-0.2%
Operating Expenses+	537.83M	593.17M	556.91M	591.68M	553.77M	615.53M	491.88M	529.96M	529.91M	499.17M
OpEx % of Revenue	0.2%	0.22%	0.22%	0.24%	0.23%	0.33%	0.23%	0.24%	0.28%	0.32%
Selling, General & Admin	495.99M	546.48M	510.79M	550.63M	516.22M	408.31M	464.32M	500.69M	494.6M	410.87M
SG&A % of Revenue	0.18%	0.2%	0.2%	0.22%	0.22%	0.22%	0.21%	0.22%	0.26%	0.26%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	41.84M	46.69M	46.12M	41.05M	37.55M	207.22M	27.56M	29.27M	35.31M	88.3M
Operating Income+	97.84M	-17M	77.56M	73.92M	66.18M	-174.88M	68.44M	72.19M	-23.85M	-92.78M
Operating Margin %	0.04%	-0.01%	0.03%	0.03%	0.03%	-0.09%	0.03%	0.03%	-0.01%	-0.06%
Operating Income Growth %	0.2%	-1.17%	5.56%	-0.05%	-0.1%	-3.64%	1.39%	0.05%	-1.33%	-2.89%
EBITDA+	139.69M	29.7M	123.68M	114.97M	103.73M	-142.85M	96M	114.38M	1.97M	-63.21M
EBITDA Margin %	0.05%	0.01%	0.05%	0.05%	0.04%	-0.08%	0.04%	0.05%	0%	-0.04%
EBITDA Growth %	0.26%	-0.79%	3.16%	-0.07%	-0.1%	-2.38%	1.67%	0.19%	-0.98%	-33.07%
D&A (Non-Cash Add-back)	41.84M	46.69M	46.12M	41.05M	37.55M	32.03M	27.56M	42.19M	25.82M	29.56M
EBIT	97.84M	-13.17M	77.56M	73.92M	66.18M	307K	68.44M	73.42M	-14.37M	-33.1M
Net Interest Income+	-1.4M	-3.35M	-14K	1.74M	3.87M	1.62M	0	1.23M	0	0
Interest Income	2.77M	3.82M	5.48M	6.63M	6.65M	1.62M	0	1.23M	0	0
Interest Expense	4.16M	7.17M	5.49M	4.88M	2.78M	0	0	0	0	0
Other Income/Expense	-1.4M	-3.35M	-14K	1.74M	3.87M	1.62M	5.41M	1.23M	3.21M	4.25M
Pretax Income+	96.45M	-20.34M	77.55M	75.66M	70.04M	-173.26M	73.85M	73.42M	-20.64M	-88.52M
Pretax Margin %	0.04%	-0.01%	0.03%	0.03%	0.03%	-0.09%	0.03%	0.03%	-0.01%	-0.06%
Income Tax+	25.2M	-5.09M	22.09M	9.91M	6.97M	-31.42M	12.22M	11.14M	-6.47M	37.22M
Effective Tax Rate %	0.74%	0.75%	0.72%	0.87%	0.9%	0.82%	0.83%	0.85%	0.69%	1.42%
Net Income+	71.25M	-15.25M	55.46M	65.75M	63.07M	-141.84M	61.63M	62.27M	-14.17M	-125.75M
Net Margin %	0.03%	-0.01%	0.02%	0.03%	0.03%	-0.08%	0.03%	0.03%	-0.01%	-0.08%
Net Income Growth %	0.08%	-1.21%	4.64%	0.19%	-0.04%	-3.25%	1.43%	0.01%	-1.23%	-7.87%
Net Income (Continuing)	71.25M	-15.25M	55.46M	65.75M	63.07M	-141.84M	61.63M	62.27M	-14.17M	-125.75M
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)+	1.71	-0.37	1.34	1.63	1.61	-4.01	1.74	1.86	-0.45	-4.17
EPS Growth %	0.08%	-1.22%	4.62%	0.22%	-0.01%	-3.49%	1.43%	0.07%	-1.24%	-8.27%
EPS (Basic)	1.73	-0.37	1.35	1.64	1.63	-4.01	1.77	1.89	-0.45	-4.17
Diluted Shares Outstanding	41.62M	41.65M	41.44M	40.27M	39.18M	35.37M	35.43M	33.45M	31.32M	30.18M
Basic Shares Outstanding	41.23M	41.22M	41.2M	39.98M	38.78M	35.37M	34.8M	32.89M	31.32M	30.18M
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+	560.15M	427.8M	428.28M	429.83M	421.73M	378.88M	445.07M	430.21M	354.99M	277.09M
Cash & Short-Term Investments	31.74M	34.97M	28.78M	46.99M	37.61M	62.51M	49.9M	72.05M	61.88M	22.54M
Cash Only	31.74M	34.97M	28.78M	46.99M	37.61M	62.51M	49.9M	72.05M	61.88M	22.54M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	489.63M	352.61M	374.27M	355.37M	353.41M	290.24M	363.56M	325.63M	264.21M	222.77M
Days Sales Outstanding	66.3	46.79	54.45	51.9	54.46	57.38	61.05	52.73	50.59	51.88
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	28.16M	18.85M	4.62M	8.22M	13.38M	8.86M	12.68M	13.08M	11.1M	16.96M
Total Non-Current Assets+	729.18M	702.64M	680.75M	685.02M	714.42M	601.69M	588.15M	589.2M	544.39M	398.28M
Property, Plant & Equipment	57.53M	64M	60.16M	57.67M	107.23M	137.67M	234.35M	146.65M	154.72M	136.94M
Fixed Asset Turnover	46.86x	42.98x	41.70x	43.34x	22.09x	13.41x	9.27x	15.37x	12.32x	11.45x
Goodwill	268.5M	224.22M	226.69M	237.29M	237.5M	94.87M	94.54M	93.78M	84.11M	24.54M
Intangible Assets	137.66M	125.67M	104.61M	91.41M	73.67M	28.93M	-68.86M	16.2M	10.53M	5.86M
Long-Term Investments	-7.39M	-6.77M	-3.78M	-4.39M	149.37M	152.25M	32.32M	26.48M	32.91M	41.85M
Other Non-Current Assets	235.33M	288.75M	289.28M	298.65M	143.42M	157.95M	266.47M	280.24M	226.66M	188.21M
Total Assets+	1.29B	1.13B	1.11B	1.11B	1.14B	980.58M	1.03B	1.02B	899.38M	675.38M
Asset Turnover	2.09x	2.43x	2.26x	2.24x	2.08x	1.88x	2.10x	2.21x	2.12x	2.32x
Asset Growth %	0.21%	-0.12%	-0.02%	0.01%	0.02%	-0.14%	0.05%	-0.01%	-0.12%	-0.25%
Total Current Liabilities+	238.09M	251.13M	212.42M	225.53M	230.81M	268.97M	258.55M	242.88M	204.1M	160.13M
Accounts Payable	69.73M	66.76M	55.09M	62.05M	68.41M	58.45M	77.17M	76.64M	56.4M	45.6M
Days Payables Outstanding	12.35	11.77	10.73	12.35	14.28	15.18	17.46	16.93	14.7	14.34
Short-Term Debt	2.27M	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	-1000K	0	0	0	0	0	0	1000K	1000K	1000K
Other Current Liabilities	69.91M	25.47M	3.22M	78.62M	80.44M	73.92M	69.1M	57.08M	53.39M	39.98M
Current Ratio	2.35x	1.70x	2.02x	1.91x	1.83x	1.41x	1.72x	1.77x	1.74x	1.73x
Quick Ratio	2.35x	1.70x	2.02x	1.91x	1.83x	1.41x	1.72x	1.77x	1.74x	1.73x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	500.99M	354.13M	341.76M	297.88M	279.38M	274.42M	281.61M	280.22M	237.41M	199.89M
Long-Term Debt	243.4M	135.36M	116.49M	80M	37.1M	0	0	0	0	7.6M
Capital Lease Obligations	0	0	0	0	28.85M	54.8M	54.93M	50.6M	49.43M	47.8M
Deferred Tax Liabilities	26.89M	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	233M	218.77M	225.28M	217.88M	213.43M	219.62M	226.69M	229.62M	187.98M	144.49M
Total Liabilities	739.08M	605.27M	554.18M	523.4M	510.18M	543.39M	540.16M	523.09M	441.51M	360.02M
Total Debt+	243.4M	135.36M	116.49M	80M	80.31M	68.73M	67.02M	62.56M	61.34M	66.53M
Net Debt	211.66M	100.39M	87.71M	33.01M	42.7M	6.23M	17.13M	-9.49M	-549K	44M
Debt / Equity	0.44x	0.26x	0.21x	0.14x	0.13x	0.16x	0.14x	0.13x	0.13x	0.21x
Debt / EBITDA	1.74x	4.56x	0.94x	0.70x	0.77x	-	0.70x	0.55x	31.12x	-
Net Debt / EBITDA	1.52x	3.38x	0.71x	0.29x	0.41x	-	0.18x	-0.08x	-0.28x	-
Interest Coverage	23.52x	-2.37x	14.12x	15.14x	23.78x	-	-	-	-	-
Total Equity+	550.25M	525.18M	554.85M	591.44M	625.97M	437.19M	493.07M	496.31M	457.87M	315.36M
Equity Growth %	0.17%	-0.05%	0.06%	0.07%	0.06%	-0.3%	0.13%	0.01%	-0.08%	-0.31%
Book Value per Share	13.22	12.61	13.39	14.69	15.98	12.36	13.92	14.84	14.62	10.45
Total Shareholders' Equity	550.25M	525.18M	554.85M	591.44M	625.97M	437.19M	493.07M	496.31M	457.87M	315.36M
Common Stock	1K	1K	1K	1K	1K	1K	1K	1K	1K	1K
Retained Earnings	549.59M	536.61M	561.65M	606.09M	639.21M	452.02M	508.81M	516.33M	478.58M	337.55M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-14.01M	-11.43M	-6.8M	-14.65M	-13.24M	-14.83M	-15.75M	-20.02M	-20.71M	-22.19M
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+	74.03M	261.75M	99.85M	125.69M	94.54M	152.53M	20.44M	120.5M	34.75M	-17.06M
Operating CF Margin %	0.03%	0.1%	0.04%	0.05%	0.04%	0.08%	0.01%	0.05%	0.02%	-0.01%
Operating CF Growth %	0.6%	2.54%	-0.62%	0.26%	-0.25%	0.61%	-0.87%	4.9%	-0.71%	-1.49%
Net Income	71.25M	-15.25M	55.46M	65.75M	63.07M	-141.84M	61.63M	62.27M	-14.17M	-125.75M
Depreciation & Amortization	41.84M	46.69M	46.12M	41.05M	37.55M	32.03M	27.56M	29.27M	25.82M	29.56M
Stock-Based Compensation	11.1M	9.36M	7.74M	13.88M	9.77M	9.11M	13.94M	9.69M	13.91M	7.59M
Deferred Taxes	5.18M	-25.36M	2.44M	-1.93M	1.26M	-26.79M	752K	3.93M	-9.9M	34.06M
Other Non-Cash Items	7.58M	119.76M	8.87M	15.2M	20.97M	196M	18.97M	25.24M	23.22M	69.26M
Working Capital Changes	-62.91M	126.54M	-20.78M	-8.25M	-38.09M	84.02M	-102.42M	-9.91M	-4.12M	-31.78M
Change in Receivables	-95.93M	112.78M	-28.48M	11.64M	5.45M	57.15M	-81.62M	34.77M	56.76M	35.73M
Change in Inventory	-11.7M	6.79M	19.32M	-14.87M	-39.63M	33.56M	19.14M	0	0	0
Change in Payables	29.98M	-4.1M	-10.57M	2.85M	6.92M	-6.56M	16.43M	-1.5M	-19.21M	-8.91M
Cash from Investing+	-105.03M	-143.22M	-30.9M	-20.52M	-25.08M	-34.41M	-16.22M	-20.95M	-32.32M	-2.45M
Capital Expenditures	-18.39M	-29.04M	-21.96M	-17.05M	-28.12M	-27.07M	-35.01M	-30.63M	-31.28M	-24.15M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	30.88M	-19.77M	-8.94M	8.69M	-12.21M	-29.48M	-30.74M	9.68M	-685K	-4M
Cash from Financing+	42.79M	-115.12M	-75.33M	-75.02M	-82.92M	-92.5M	-19.13M	-64.69M	-37.58M	-17.09M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	2.64M	1.51M	-16.65M	1.5M	1.03M	-618K	790K	727K	756K	-1.07M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	55.64M	232.71M	77.89M	108.64M	66.42M	125.47M	-14.57M	89.88M	3.48M	-41.21M
FCF Margin %	0.02%	0.08%	0.03%	0.04%	0.03%	0.07%	-0.01%	0.04%	0%	-0.03%
FCF Growth %	0.9%	3.18%	-0.67%	0.39%	-0.39%	0.89%	-1.12%	7.17%	-0.96%	-12.85%
FCF per Share	1.34	5.59	1.88	2.70	1.70	3.55	-0.41	2.69	0.11	-1.37
FCF Conversion (FCF/Net Income)	1.04x	-17.16x	1.80x	1.91x	1.50x	-1.08x	0.33x	1.94x	-2.45x	0.14x
Interest Paid	3.5M	4.08M	3.81M	4.37M	2.43M	0	1.43M	1.12M	1.03M	1.04M
Taxes Paid	34.4M	10.31M	4.59M	12.9M	12.17M	0	9.77M	9.98M	5.17M	211K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.98%	-2.84%	10.27%	11.47%	10.36%	-26.68%	13.25%	12.59%	-2.97%	-32.53%
Return on Invested Capital (ROIC)	10.39%	-1.84%	9.17%	8.75%	7.68%	-23.59%	10.77%	10.86%	-3.79%	-17.04%
Gross Margin	23.58%	24.71%	25.29%	26.63%	26.17%	23.87%	25.78%	26.71%	26.55%	25.93%
Net Margin	2.64%	-0.55%	2.21%	2.63%	2.66%	-7.68%	2.84%	2.76%	-0.74%	-8.02%
Debt / Equity	0.44x	0.26x	0.21x	0.14x	0.13x	0.16x	0.14x	0.13x	0.13x	0.21x
Interest Coverage	23.52x	-2.37x	14.12x	15.14x	23.78x	-	-	-	-	-
FCF Conversion	1.04x	-17.16x	1.80x	1.91x	1.50x	-1.08x	0.33x	1.94x	-2.45x	0.14x
Revenue Growth	23.99%	2.04%	-8.79%	-0.38%	-5.22%	-22.05%	17.72%	3.71%	-15.44%	-17.78%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
PeopleReady	-	1.63B	1.51B	1.52B	1.47B	1.1B	1.27B	1.27B	1.1B	868.55M
PeopleReady Growth	-	-	-7.25%	0.71%	-3.15%	-25.41%	15.60%	0.15%	-13.87%	-20.78%
PeopleManagement	-	940.45M	807.27M	728.25M	642.23M	586.82M	639.74M	663.81M	580.59M	542.2M
PeopleManagement Growth	-	-	-14.16%	-9.79%	-11.81%	-8.63%	9.02%	3.76%	-12.54%	-6.61%
PeopleScout	-	180.73M	190.14M	248.88M	252.48M	160.08M	262.95M	317.52M	229.33M	156.64M
PeopleScout Growth	-	-	5.20%	30.89%	1.45%	-36.60%	64.27%	20.75%	-27.77%	-31.70%
Staffing Services	2.59B	-	-	-	-	-	-	-	-	-
Staffing Services Growth	-	-	-	-	-	-	-	-	-	-
Managed Services	104.51M	-	-	-	-	-	-	-	-	-
Managed Services Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	2.6B	2.64B	2.39B	2.37B	2.22B	1.73B	2.02B	2.07B	1.75B	1.46B
UNITED STATES Growth	-	1.59%	-9.70%	-0.79%	-6.18%	-22.20%	16.68%	2.78%	-15.58%	-16.68%
Outside of United States	92.59M	106.23M	120.78M	130.18M	146.24M	117.19M	156.09M	180.59M	155.82M	108.89M
Outside of United States Growth	-	14.72%	13.70%	7.79%	12.33%	-19.86%	33.20%	15.69%	-13.72%	-30.12%

Frequently Asked Questions

Growth & Financials

TrueBlue, Inc. (TBI) reported $1.53B in revenue for fiscal year 2024. This represents a 17% increase from $1.32B in 2011.

TrueBlue, Inc. (TBI) saw revenue decline by 17.8% over the past year.

TrueBlue, Inc. (TBI) reported a net loss of $33.8M for fiscal year 2024.

Dividend & Returns

TrueBlue, Inc. (TBI) has a return on equity (ROE) of -32.5%. Negative ROE indicates the company is unprofitable.

TrueBlue, Inc. (TBI) had negative free cash flow of $54.7M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

...

TrueBlue, Inc. (TBI) 10-Year Financial Performance & Capital Metrics

TBI • • Industrial / General

IndustrialsStaffing & HRIndustrial & General StaffingIndustrial & Blue-Collar Staffing

Revenue $1.57B -17.8%
EBITDA -$63M -3307.2%
Net Income -$126M -787.2%
EPS (Diluted) -4.17 -826.7%
Gross Margin 25.93% -2.3%
EBITDA Margin -4.03% -4000.5%
Operating Margin -5.92% -373.1%
Net Margin -8.02% -979.0%
ROE -32.53% -994.9%
ROIC -17.04% -349.7%
Debt/Equity 0.21 +57.5%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Share count reduced 3.6% through buybacks
✓Trading at only 0.5x book value
✓Efficient asset utilization: 2.3x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Low quality earnings: Net income not backed by cash flow
✗Sales declining 7.9% over 5 years
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-3.22%

5Y-7.93%

3Y-10.33%

TTM-13.01%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM68.94%

EPS CAGR

10Y-

5Y-

3Y-

TTM67.88%

ROCE

10Y Avg1.11%

5Y Avg-4.34%

3Y Avg-3.09%

Latest-15.33%

Peer Comparison

Industrial & Blue-Collar Staffing

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
HQIHireQuest, Inc.	154.05M	10.96	42.15	-8.67%	21.92%	10.24%	7.77%	0.11
TBITrueBlue, Inc.	150.3M	5.02	-1.20	-17.78%	-2.21%	-11.09%		0.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	2.7B	2.75B	2.51B	2.5B	2.37B	1.85B	2.17B	2.25B	1.91B	1.57B
Revenue Growth %	0.24%	0.02%	-0.09%	-0%	-0.05%	-0.22%	0.18%	0.04%	-0.15%	-0.18%
Cost of Goods Sold+	2.06B	2.07B	1.87B	1.83B	1.75B	1.41B	1.61B	1.65B	1.4B	1.16B
COGS % of Revenue	0.76%	0.75%	0.75%	0.73%	0.74%	0.76%	0.74%	0.73%	0.73%	0.74%
Gross Profit+	635.67M	679.72M	634.47M	665.6M	619.95M	440.64M	560.32M	602.14M	506.06M	406.39M
Gross Margin %	0.24%	0.25%	0.25%	0.27%	0.26%	0.24%	0.26%	0.27%	0.27%	0.26%
Gross Profit Growth %	0.18%	0.07%	-0.07%	0.05%	-0.07%	-0.29%	0.27%	0.07%	-0.16%	-0.2%
Operating Expenses+	537.83M	593.17M	556.91M	591.68M	553.77M	615.53M	491.88M	529.96M	529.91M	499.17M
OpEx % of Revenue	0.2%	0.22%	0.22%	0.24%	0.23%	0.33%	0.23%	0.24%	0.28%	0.32%
Selling, General & Admin	495.99M	546.48M	510.79M	550.63M	516.22M	408.31M	464.32M	500.69M	494.6M	410.87M
SG&A % of Revenue	0.18%	0.2%	0.2%	0.22%	0.22%	0.22%	0.21%	0.22%	0.26%	0.26%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	41.84M	46.69M	46.12M	41.05M	37.55M	207.22M	27.56M	29.27M	35.31M	88.3M
Operating Income+	97.84M	-17M	77.56M	73.92M	66.18M	-174.88M	68.44M	72.19M	-23.85M	-92.78M
Operating Margin %	0.04%	-0.01%	0.03%	0.03%	0.03%	-0.09%	0.03%	0.03%	-0.01%	-0.06%
Operating Income Growth %	0.2%	-1.17%	5.56%	-0.05%	-0.1%	-3.64%	1.39%	0.05%	-1.33%	-2.89%
EBITDA+	139.69M	29.7M	123.68M	114.97M	103.73M	-142.85M	96M	114.38M	1.97M	-63.21M
EBITDA Margin %	0.05%	0.01%	0.05%	0.05%	0.04%	-0.08%	0.04%	0.05%	0%	-0.04%
EBITDA Growth %	0.26%	-0.79%	3.16%	-0.07%	-0.1%	-2.38%	1.67%	0.19%	-0.98%	-33.07%
D&A (Non-Cash Add-back)	41.84M	46.69M	46.12M	41.05M	37.55M	32.03M	27.56M	42.19M	25.82M	29.56M
EBIT	97.84M	-13.17M	77.56M	73.92M	66.18M	307K	68.44M	73.42M	-14.37M	-33.1M
Net Interest Income+	-1.4M	-3.35M	-14K	1.74M	3.87M	1.62M	0	1.23M	0	0
Interest Income	2.77M	3.82M	5.48M	6.63M	6.65M	1.62M	0	1.23M	0	0
Interest Expense	4.16M	7.17M	5.49M	4.88M	2.78M	0	0	0	0	0
Other Income/Expense	-1.4M	-3.35M	-14K	1.74M	3.87M	1.62M	5.41M	1.23M	3.21M	4.25M
Pretax Income+	96.45M	-20.34M	77.55M	75.66M	70.04M	-173.26M	73.85M	73.42M	-20.64M	-88.52M
Pretax Margin %	0.04%	-0.01%	0.03%	0.03%	0.03%	-0.09%	0.03%	0.03%	-0.01%	-0.06%
Income Tax+	25.2M	-5.09M	22.09M	9.91M	6.97M	-31.42M	12.22M	11.14M	-6.47M	37.22M
Effective Tax Rate %	0.74%	0.75%	0.72%	0.87%	0.9%	0.82%	0.83%	0.85%	0.69%	1.42%
Net Income+	71.25M	-15.25M	55.46M	65.75M	63.07M	-141.84M	61.63M	62.27M	-14.17M	-125.75M
Net Margin %	0.03%	-0.01%	0.02%	0.03%	0.03%	-0.08%	0.03%	0.03%	-0.01%	-0.08%
Net Income Growth %	0.08%	-1.21%	4.64%	0.19%	-0.04%	-3.25%	1.43%	0.01%	-1.23%	-7.87%
Net Income (Continuing)	71.25M	-15.25M	55.46M	65.75M	63.07M	-141.84M	61.63M	62.27M	-14.17M	-125.75M
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)+	1.71	-0.37	1.34	1.63	1.61	-4.01	1.74	1.86	-0.45	-4.17
EPS Growth %	0.08%	-1.22%	4.62%	0.22%	-0.01%	-3.49%	1.43%	0.07%	-1.24%	-8.27%
EPS (Basic)	1.73	-0.37	1.35	1.64	1.63	-4.01	1.77	1.89	-0.45	-4.17
Diluted Shares Outstanding	41.62M	41.65M	41.44M	40.27M	39.18M	35.37M	35.43M	33.45M	31.32M	30.18M
Basic Shares Outstanding	41.23M	41.22M	41.2M	39.98M	38.78M	35.37M	34.8M	32.89M	31.32M	30.18M
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+	560.15M	427.8M	428.28M	429.83M	421.73M	378.88M	445.07M	430.21M	354.99M	277.09M
Cash & Short-Term Investments	31.74M	34.97M	28.78M	46.99M	37.61M	62.51M	49.9M	72.05M	61.88M	22.54M
Cash Only	31.74M	34.97M	28.78M	46.99M	37.61M	62.51M	49.9M	72.05M	61.88M	22.54M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	489.63M	352.61M	374.27M	355.37M	353.41M	290.24M	363.56M	325.63M	264.21M	222.77M
Days Sales Outstanding	66.3	46.79	54.45	51.9	54.46	57.38	61.05	52.73	50.59	51.88
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	28.16M	18.85M	4.62M	8.22M	13.38M	8.86M	12.68M	13.08M	11.1M	16.96M
Total Non-Current Assets+	729.18M	702.64M	680.75M	685.02M	714.42M	601.69M	588.15M	589.2M	544.39M	398.28M
Property, Plant & Equipment	57.53M	64M	60.16M	57.67M	107.23M	137.67M	234.35M	146.65M	154.72M	136.94M
Fixed Asset Turnover	46.86x	42.98x	41.70x	43.34x	22.09x	13.41x	9.27x	15.37x	12.32x	11.45x
Goodwill	268.5M	224.22M	226.69M	237.29M	237.5M	94.87M	94.54M	93.78M	84.11M	24.54M
Intangible Assets	137.66M	125.67M	104.61M	91.41M	73.67M	28.93M	-68.86M	16.2M	10.53M	5.86M
Long-Term Investments	-7.39M	-6.77M	-3.78M	-4.39M	149.37M	152.25M	32.32M	26.48M	32.91M	41.85M
Other Non-Current Assets	235.33M	288.75M	289.28M	298.65M	143.42M	157.95M	266.47M	280.24M	226.66M	188.21M
Total Assets+	1.29B	1.13B	1.11B	1.11B	1.14B	980.58M	1.03B	1.02B	899.38M	675.38M
Asset Turnover	2.09x	2.43x	2.26x	2.24x	2.08x	1.88x	2.10x	2.21x	2.12x	2.32x
Asset Growth %	0.21%	-0.12%	-0.02%	0.01%	0.02%	-0.14%	0.05%	-0.01%	-0.12%	-0.25%
Total Current Liabilities+	238.09M	251.13M	212.42M	225.53M	230.81M	268.97M	258.55M	242.88M	204.1M	160.13M
Accounts Payable	69.73M	66.76M	55.09M	62.05M	68.41M	58.45M	77.17M	76.64M	56.4M	45.6M
Days Payables Outstanding	12.35	11.77	10.73	12.35	14.28	15.18	17.46	16.93	14.7	14.34
Short-Term Debt	2.27M	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	-1000K	0	0	0	0	0	0	1000K	1000K	1000K
Other Current Liabilities	69.91M	25.47M	3.22M	78.62M	80.44M	73.92M	69.1M	57.08M	53.39M	39.98M
Current Ratio	2.35x	1.70x	2.02x	1.91x	1.83x	1.41x	1.72x	1.77x	1.74x	1.73x
Quick Ratio	2.35x	1.70x	2.02x	1.91x	1.83x	1.41x	1.72x	1.77x	1.74x	1.73x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	500.99M	354.13M	341.76M	297.88M	279.38M	274.42M	281.61M	280.22M	237.41M	199.89M
Long-Term Debt	243.4M	135.36M	116.49M	80M	37.1M	0	0	0	0	7.6M
Capital Lease Obligations	0	0	0	0	28.85M	54.8M	54.93M	50.6M	49.43M	47.8M
Deferred Tax Liabilities	26.89M	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	233M	218.77M	225.28M	217.88M	213.43M	219.62M	226.69M	229.62M	187.98M	144.49M
Total Liabilities	739.08M	605.27M	554.18M	523.4M	510.18M	543.39M	540.16M	523.09M	441.51M	360.02M
Total Debt+	243.4M	135.36M	116.49M	80M	80.31M	68.73M	67.02M	62.56M	61.34M	66.53M
Net Debt	211.66M	100.39M	87.71M	33.01M	42.7M	6.23M	17.13M	-9.49M	-549K	44M
Debt / Equity	0.44x	0.26x	0.21x	0.14x	0.13x	0.16x	0.14x	0.13x	0.13x	0.21x
Debt / EBITDA	1.74x	4.56x	0.94x	0.70x	0.77x	-	0.70x	0.55x	31.12x	-
Net Debt / EBITDA	1.52x	3.38x	0.71x	0.29x	0.41x	-	0.18x	-0.08x	-0.28x	-
Interest Coverage	23.52x	-2.37x	14.12x	15.14x	23.78x	-	-	-	-	-
Total Equity+	550.25M	525.18M	554.85M	591.44M	625.97M	437.19M	493.07M	496.31M	457.87M	315.36M
Equity Growth %	0.17%	-0.05%	0.06%	0.07%	0.06%	-0.3%	0.13%	0.01%	-0.08%	-0.31%
Book Value per Share	13.22	12.61	13.39	14.69	15.98	12.36	13.92	14.84	14.62	10.45
Total Shareholders' Equity	550.25M	525.18M	554.85M	591.44M	625.97M	437.19M	493.07M	496.31M	457.87M	315.36M
Common Stock	1K	1K	1K	1K	1K	1K	1K	1K	1K	1K
Retained Earnings	549.59M	536.61M	561.65M	606.09M	639.21M	452.02M	508.81M	516.33M	478.58M	337.55M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-14.01M	-11.43M	-6.8M	-14.65M	-13.24M	-14.83M	-15.75M	-20.02M	-20.71M	-22.19M
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+	74.03M	261.75M	99.85M	125.69M	94.54M	152.53M	20.44M	120.5M	34.75M	-17.06M
Operating CF Margin %	0.03%	0.1%	0.04%	0.05%	0.04%	0.08%	0.01%	0.05%	0.02%	-0.01%
Operating CF Growth %	0.6%	2.54%	-0.62%	0.26%	-0.25%	0.61%	-0.87%	4.9%	-0.71%	-1.49%
Net Income	71.25M	-15.25M	55.46M	65.75M	63.07M	-141.84M	61.63M	62.27M	-14.17M	-125.75M
Depreciation & Amortization	41.84M	46.69M	46.12M	41.05M	37.55M	32.03M	27.56M	29.27M	25.82M	29.56M
Stock-Based Compensation	11.1M	9.36M	7.74M	13.88M	9.77M	9.11M	13.94M	9.69M	13.91M	7.59M
Deferred Taxes	5.18M	-25.36M	2.44M	-1.93M	1.26M	-26.79M	752K	3.93M	-9.9M	34.06M
Other Non-Cash Items	7.58M	119.76M	8.87M	15.2M	20.97M	196M	18.97M	25.24M	23.22M	69.26M
Working Capital Changes	-62.91M	126.54M	-20.78M	-8.25M	-38.09M	84.02M	-102.42M	-9.91M	-4.12M	-31.78M
Change in Receivables	-95.93M	112.78M	-28.48M	11.64M	5.45M	57.15M	-81.62M	34.77M	56.76M	35.73M
Change in Inventory	-11.7M	6.79M	19.32M	-14.87M	-39.63M	33.56M	19.14M	0	0	0
Change in Payables	29.98M	-4.1M	-10.57M	2.85M	6.92M	-6.56M	16.43M	-1.5M	-19.21M	-8.91M
Cash from Investing+	-105.03M	-143.22M	-30.9M	-20.52M	-25.08M	-34.41M	-16.22M	-20.95M	-32.32M	-2.45M
Capital Expenditures	-18.39M	-29.04M	-21.96M	-17.05M	-28.12M	-27.07M	-35.01M	-30.63M	-31.28M	-24.15M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	30.88M	-19.77M	-8.94M	8.69M	-12.21M	-29.48M	-30.74M	9.68M	-685K	-4M
Cash from Financing+	42.79M	-115.12M	-75.33M	-75.02M	-82.92M	-92.5M	-19.13M	-64.69M	-37.58M	-17.09M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	2.64M	1.51M	-16.65M	1.5M	1.03M	-618K	790K	727K	756K	-1.07M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	55.64M	232.71M	77.89M	108.64M	66.42M	125.47M	-14.57M	89.88M	3.48M	-41.21M
FCF Margin %	0.02%	0.08%	0.03%	0.04%	0.03%	0.07%	-0.01%	0.04%	0%	-0.03%
FCF Growth %	0.9%	3.18%	-0.67%	0.39%	-0.39%	0.89%	-1.12%	7.17%	-0.96%	-12.85%
FCF per Share	1.34	5.59	1.88	2.70	1.70	3.55	-0.41	2.69	0.11	-1.37
FCF Conversion (FCF/Net Income)	1.04x	-17.16x	1.80x	1.91x	1.50x	-1.08x	0.33x	1.94x	-2.45x	0.14x
Interest Paid	3.5M	4.08M	3.81M	4.37M	2.43M	0	1.43M	1.12M	1.03M	1.04M
Taxes Paid	34.4M	10.31M	4.59M	12.9M	12.17M	0	9.77M	9.98M	5.17M	211K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13.98%	-2.84%	10.27%	11.47%	10.36%	-26.68%	13.25%	12.59%	-2.97%	-32.53%
Return on Invested Capital (ROIC)	10.39%	-1.84%	9.17%	8.75%	7.68%	-23.59%	10.77%	10.86%	-3.79%	-17.04%
Gross Margin	23.58%	24.71%	25.29%	26.63%	26.17%	23.87%	25.78%	26.71%	26.55%	25.93%
Net Margin	2.64%	-0.55%	2.21%	2.63%	2.66%	-7.68%	2.84%	2.76%	-0.74%	-8.02%
Debt / Equity	0.44x	0.26x	0.21x	0.14x	0.13x	0.16x	0.14x	0.13x	0.13x	0.21x
Interest Coverage	23.52x	-2.37x	14.12x	15.14x	23.78x	-	-	-	-	-
FCF Conversion	1.04x	-17.16x	1.80x	1.91x	1.50x	-1.08x	0.33x	1.94x	-2.45x	0.14x
Revenue Growth	23.99%	2.04%	-8.79%	-0.38%	-5.22%	-22.05%	17.72%	3.71%	-15.44%	-17.78%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
PeopleReady	-	1.63B	1.51B	1.52B	1.47B	1.1B	1.27B	1.27B	1.1B	868.55M
PeopleReady Growth	-	-	-7.25%	0.71%	-3.15%	-25.41%	15.60%	0.15%	-13.87%	-20.78%
PeopleManagement	-	940.45M	807.27M	728.25M	642.23M	586.82M	639.74M	663.81M	580.59M	542.2M
PeopleManagement Growth	-	-	-14.16%	-9.79%	-11.81%	-8.63%	9.02%	3.76%	-12.54%	-6.61%
PeopleScout	-	180.73M	190.14M	248.88M	252.48M	160.08M	262.95M	317.52M	229.33M	156.64M
PeopleScout Growth	-	-	5.20%	30.89%	1.45%	-36.60%	64.27%	20.75%	-27.77%	-31.70%
Staffing Services	2.59B	-	-	-	-	-	-	-	-	-
Staffing Services Growth	-	-	-	-	-	-	-	-	-	-
Managed Services	104.51M	-	-	-	-	-	-	-	-	-
Managed Services Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	2.6B	2.64B	2.39B	2.37B	2.22B	1.73B	2.02B	2.07B	1.75B	1.46B
UNITED STATES Growth	-	1.59%	-9.70%	-0.79%	-6.18%	-22.20%	16.68%	2.78%	-15.58%	-16.68%
Outside of United States	92.59M	106.23M	120.78M	130.18M	146.24M	117.19M	156.09M	180.59M	155.82M	108.89M
Outside of United States Growth	-	14.72%	13.70%	7.79%	12.33%	-19.86%	33.20%	15.69%	-13.72%	-30.12%

Frequently Asked Questions

Growth & Financials

TrueBlue, Inc. (TBI) reported $1.53B in revenue for fiscal year 2024. This represents a 17% increase from $1.32B in 2011.

TrueBlue, Inc. (TBI) saw revenue decline by 17.8% over the past year.

TrueBlue, Inc. (TBI) reported a net loss of $33.8M for fiscal year 2024.

Dividend & Returns

TrueBlue, Inc. (TBI) has a return on equity (ROE) of -32.5%. Negative ROE indicates the company is unprofitable.

TrueBlue, Inc. (TBI) had negative free cash flow of $54.7M in fiscal year 2024, likely due to heavy capital investments.