The stock may respond positively to the strong revenue growth and shareholder returns, though 2026 guidance is more conservative. Monitor whether the company can maintain margin stability as workers' compensation expenses normalized slightly in 2025.
Price Chart
Executive Summary
Barrett Business Services (BBSI) reported strong fourth quarter and full year 2025 results with revenue up 5% and 8% respectively, driven by growth in worksite employees and billings. Net income increased 3% for the year, while EPS rose 5%. The company maintained its dividend and repurchased $17 million in stock, ending the year debt-free with $157.2 million in unrestricted cash. Management provided 2026 guidance with expected gross billings growth of 3-5%.
Key Financial Metrics
Key Facts
- Q4 revenue increased 5% to $321.1 million; full year revenue up 8% to $1.24 billion
- Full year net income increased 3% to $54.4 million; EPS up 5% to $2.08
- Average worksite employees grew 7% for the year
- Company repurchased $17 million of stock in Q4 and maintains $75 million available under its $100 million repurchase program
- 2026 guidance includes 3-5% gross billings growth and 2-4% growth in average worksite employees
Financial Impact
Revenue grew 8% to $1.24 billion with net income up 3% to $54.4 million; company returned over $50 million to shareholders through buybacks and dividends
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Professional Employer Services | $1.2B | +9.9% |
| Staffing Services | $72.0M | -11.3% |
Risk Factors
- 2026 guidance shows decelerating growth (3-5% vs 8% in 2025)
- Gross margin declined from 3.0% in 2024 to 2.9% in 2025
- Workers' compensation expense favorable adjustments decreased from $18.5M to $18.7M year-over-year
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-071531 |
| Document: bbsi-20260225.htm | 0001193125-26-071531 |
| Document: 0001193125-26-071531-index-headers.html | 0001193125-26-071531 |
| Document: 0001193125-26-071531-index.html | 0001193125-26-071531 |
| Document: 0001193125-26-071531.txt | 0001193125-26-071531 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 4d ago | Press Release | $32.81 | awaiting T+60 | — | $33.15 (+1.02%) |
Oct 13, 2026 13d ago | SC 13G/A | $31.90 | awaiting T+60 | — | $33.15 (+3.90%) |
Oct 2, 2026 24d ago | SC 13G/A | $30.51 | awaiting T+60 | — | $33.15 (+8.64%) |
Aug 15, 2026 10w ago | Institutional Cluster | $31.33 | awaiting T+60 | — | $33.15 (+5.79%) |
Jul 7, 2026 15w ago | Insider Cluster | $37.39 $31.31 | ▼ −16.26% | ▼ −18.75% | $33.15 (−11.35%) |
Jun 3, 2026 20w ago | 8-K | $32.50 $34.37 | ▲ +5.75% | ▲ +3.87% | $33.15 (+1.98%) |
Apr 22, 2026 26w ago | Press Release | $29.89 | awaiting T+60 | — | $33.15 (+10.89%) |
Apr 20, 2026 26w ago | DEFA14A | $30.26 $40.33 | ▲ +33.28% | ▲ +26.38% | $33.15 (+9.53%) |
Mar 13, 2026 32w ago | Insider Cluster | $27.50 $33.47 | ▲ +21.71% | ▲ +10.09% | $33.15 (+20.53%) |
Feb 25, 2026 34w ago | 8-K | $26.83 $31.52 | ▲ +17.48% | ▲ +9.31% | $33.15 (+23.54%) |
US Market Status
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