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BBSI Price Correlated With Financials For Barrett Business Services

Free historical financial statements for Barrett Business Services Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 42 quarters since 2012. Compare with BBSI stock chart to see long term trends.

BBSI Stock Compared to Quarterly

BBSI Income Statement

Revenue, Net:273822000
Revenue Per Share:38.9173
Cost of Goods & Services Sold:206921000
Gross Profit:66901000
Selling, General & Admin Expense:43001000
Operating Income:23914000
Income Taxes:6476000
Net Income:17438000
Earnings Per Share, Basic:2.48
Shares Outstanding, Basic Avg:7036000

BBSI Cash Flow

Operating Activities Net Income:
Depreciation, Depletion & Amortization:1554000
Change in Accounts Receiveable:-72333000
Net Cash from Operations:34357000
Net Cash from Operations Per Share:4.883
Repurchases/Buybacks Common Stock:10560000
Cash Dividends Paid:2128000
Net Cash from Financing Activities:-13566000
Property, Plant & Equipment Purchases:3050000
Net Cash from Investing Activities:3089000
Net Change in Cash & Equivalents:23880000

BBSI Balance Sheet

Cash and Cash Equivalents:68018000
Accounts Receivable, Net:194537000
Total Current Assets:460782000
Property, Plant & Equipment, Net:43221000
Total Assets:696990000
Accounts Payable:4553000
Total Short-Term Liabilities:341755000
Total Liabilities:525627000

Major Holders (from 13F filings)

Investment Type
Value (x$1000)
increase or decrease
Blackrock Inc.
516,553 sh
-44,212 sh
American Century Companies Inc
452,848 sh
-30,049 sh
Vanguard Group Inc
353,945 sh
-18,722 sh
JPMorgan Chase & Co
340,759 sh
-17,759 sh
Dimensional Fund Advisors LP
264,293 sh
3,282 sh
Private Capital Management, LLC
262,538 sh
-1,937 sh
State Street Corp
201,834 sh
-1,733 sh
Renaissance Technologies LLC
200,200 sh
-45,200 sh
Royce & Associates Lp
188,496 sh
-32,404 sh
22NW, Lp
178,173 sh
Kennedy Capital Management, Inc.
169,504 sh
-560 sh
Pacific Ridge Capital Partners, LLC
155,256 sh
-3,916 sh
Heartland Advisors Inc
150,000 sh
Geode Capital Management, LLC
145,282 sh
1,603 sh
143,734 sh
78,797 sh
Wellington Management Group Llp
116,300 sh
63,700 sh
Royal Bank Of Canada
114,495 sh
2,504 sh
Northern Trust Corp
109,954 sh
-1,930 sh
River Road Asset Management, LLC
97,694 sh
-3,125 sh
Charles Schwab Investment Management Inc
78,965 sh
7,840 sh
Note 1 - Summary of Operations and Significant Accounting Policies
Nature of operations
Barrett Business Services, Inc. (“BBSI” or the “Company”), is a leading provider of business management solutions for small and mid-sized companies. The Company has developed a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. This platform, through the effective leveraging of human capital, helps our business owner clients run their businesses more effectively.
We believe this platform, delivered through our decentralized organizational structure, differentiates BBSI from our competitors. The Company operates through a network of 50 branch offices throughout Arizona, California, Colorado, Delaware, Idaho, Maryland, Nevada, New Mexico, North Carolina, Oregon, Pennsylvania, Tennessee, Utah, Virginia and Washington. Approximately 73%, 75% and 77%, respectively, of our revenue during 2021, 2020, and 2019 was attributable to our California operations. BBSI was incorporated in Maryland in 1965.
The Company operates a wholly owned, fully licensed captive insurance company, Associated Insurance Company for Excess ("AICE") and a wholly owned, fully licensed insurance company, Ecole. AICE and Ecole provide access to more competitive and cost-effective insurance markets and provide cost-effective risk management. See “Note 5 – Workers’ Compensation Claims” for additional information in the Company’s insurance programs.
Principles of consolidation
The accompanying financial statements are prepared on a consolidated basis. All intercompany account balances and transactions between BBSI, AICE, and Ecole have been eliminated in consolidation.
Reportable segment
The Company has one operating and reporting segment. The chief operating decision maker (our Chief Executive Officer) regularly reviews the financial information of our business at a consolidated level in deciding how to allocate resources and in assessing performance.
Revenue recognition
Professional employer (“PEO”) services are normally used by organizations to satisfy ongoing needs related to the management of human capital and are governed by the terms of a client services agreement which covers all employees at a particular work site. Staffing revenues relate primarily to short-term staffing, contract staffing and on-site management services. The Company’s performance obligations for PEO and staffing services are satisfied, and the related revenue is recognized, as services are rendered by our workforce.
Our PEO client service agreements have a minimum term of one year, are renewable on an annual basis and typically require 30 days’ written notice to cancel or terminate the contract by either party. In addition, our client service agreements provide for immediate termination upon any payment default of the client regardless of when notice is given. PEO customers are invoiced following the end of each payroll processing cycle, with payment generally due on the invoice date. Staffing customers are generally invoiced weekly based on agreed rates per employee and actual hours worked, typically with payment terms of 30 days. The amount of earned but unbilled revenue is classified as a receivable on the consolidated balance sheets.
We report PEO revenues net of direct payroll costs because we are not the primary obligor for these payments to our clients’ employees. Direct payroll costs include salaries, wages, health insurance, and employee out-of-pocket expenses incurred incidental to employment. We also present revenue net of s afety incentives, because these incentives represent consideration payable to customers.
Cost of revenues
Our cost of revenues for PEO services includes employer payroll-related taxes and workers' compensation costs. Our cost of revenues for staffing services includes direct payroll costs, employer payroll-related taxes, employee benefits, and workers’ compensatio

Data imported from Barrett Business Services Inc SEC filings. Check original filings before making any investment decision.