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Trueblue, Inc. (TBI) stock

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NYSE: TBI NYSE Human Resource & Employment Services Next results ~November 4, 2026

C+ Fundamentals grade

Trueblue, Inc. is a US-listed company in the human resource & employment services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$14

Valuation models combined (4)

Base case. Range ~$9.8–$23. Weighted average of 4 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Trueblue, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 1 selling3 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds59 adding, 51 cuttingOf 23 active managers that changed their stake, 12 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Trueblue files

Where Trueblue stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.69bn, up 10.2% on a year earlier, faster than the 7.1% growth a quarter earlier. That growth ranks 3 of 13 among the human resource & employment services companies we cover. Free-cash-flow margin held at -4.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 6 financial-health checks. Our revenue-to-maturity cash-flow model value is $21.05 a share, against a share price of $9.63.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Trueblue, Inc.'s trailing-twelve-month revenue grew 10.2% year on year, with a free-cash-flow margin of -4.0%. Where it stands out: stock pay as % of revenue of 0.4% ranks 3 of 20 human resource & employment services companies we cover. Where it lags: free-cash-flow margin of -4.0% ranks 17 of 21 human resource & employment services companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 23.3% while net income fell 67.3%: a 44pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 3.0 points higher than a quarter earlier.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 31.0% over 90 days.

Things to watch

  • Loss-making. Operating margin is -2.9%: costs exceed revenue.
  • Burning cash. Free cash flow was -4.0% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 71% and a beta of 0.6 against the S&P 500.
  • Gross margin slipping. Gross margin is down 3.7 points on a year ago.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$0.06 against an average estimate of -$0.10: beat by 160.0%
Revenue
$443m, up 11.8% on a year earlier
Share reaction
+31.3% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Next report
November 4, 2026; average EPS estimate $0.19

Trueblue's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.0%
  • 1 week+0.4%
  • 1 month+7.5%
  • This year+116.9%
  • 1 year+108.2%
  • 5 years-64.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.7B
Operating margin
-2.9%
Net margin
-3.3%
EPS (TTM, diluted)
$-1.88

Growth

Revenue growth
+10.2%
Change in growth rate
+3.0 pts
Share count change
+1.3%

Cash

Free cash flow (TTM)
-$67.4M
FCF margin
-4.0%
Stock pay % of revenue
0.4%

Earnings

Last results
August 4, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Announcement
  4. Announcement
  5. Announcement
  6. Announcement
  7. Announcement
  8. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Trueblue, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Trueblue, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.02 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$9.8 ~$5.9–$12 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$11 ~$9.2–$16 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$23 ~$20–$92 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$22 ~$16–$29 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$14 ~$9.8–$23 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Trueblue, Inc. with Human Resource & Employment Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$26.51$24.65$27.50$21.82$23.62$19.18$27.65$19.22$15.34$7.87$4.65$9.87
Market value$1.1bn$1.0bn$1.1bn$879m$925m$678m$980m$643m$480m$237m$139m$297m
+ Net debt (− = net cash)$216m$103m$90m$33m−$508000−$63m−$50m−$72m−$62m−$15m$41m$59m
Enterprise value$1.3bn$1.1bn$1.2bn$912m$925m$616m$930m$571m$419m$223m$180m$356m
Multiples
Price / sales 3.1x0.4x0.5x0.4x0.4x0.4x0.5x0.3x0.3x0.2x0.1x0.2x
Price / earnings 15.5x—20.6x13.4x14.7x—15.9x10.3x————
Price / free cash flow 20.6x4.4x14.6x8.1x14.1x5.4x—7.2x138.1x———
EV / EBITDA 9.4x38.0x9.9x7.9x8.9x—9.7x5.6xn/m———

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

32 /100

Weak moat

How hard Trueblue's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 10 / 20

    Cash operating profit has been a median 8.8% of total assets over 10 years.

  • Pricing power 10 / 20

    Gross margin has been a median 25.9%, moving by 1.6 percentage points (standard deviation) across 9 years.

  • Durability 0 / 20

    Operating margin has been a median 0.9%; its worst year was -7.7%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 5 of 9 years, at a median 2.6% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 13.7% over five years; stock-based pay has been a median 0.5% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (47 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $468m and EPS of $0.19 (range $0.16 to $0.21) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.02 +98% $1.7bn +8%
Next $0.82 +4999% $1.8bn +3%

Next year's EPS estimate has moved +31.0% in 90 days, across 3 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.10 $0.06 +160.0%
Mar 2026 −$0.45 −$0.41 +8.9%
Dec 2025 −$0.05 −$0.25 −368.8%
Sept 2025 −$0.08 $0.03 +136.4%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

2 analysts, Oct 2026
Buy150%
Hold150%
Sell00%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112
  3. Aug 2026112
  4. Jul 2026112

Counts of recommendations published by analysts covering Trueblue, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.6%
of tradable shares
Days to cover
2.11
at average volume
Short interest, 1 month
−16%
to September 30, 2026
Held by institutions
88%
of shares
Held by insiders
7.7%
of shares
Employees
3,500
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +108.2%

$4.74 on October 31, 2025 to $9.87

ThenNowEffect
Revenue (last 12 months) $1.5bn $1.7bn +10.2%
P/S multiple 0.1x 0.2x +91.5%
Share count 30m 30m −1.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −17.0%

$11.89 on November 3, 2023 to $9.87

ThenNowEffect
Revenue (last 12 months) $2.1bn $1.7bn −18.5%
P/S multiple 0.2x 0.2x −5.2%
Share count 32m 30m +7.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
TBI+48%−29%−22%−45%−46%+117%
Industry peers (median)+48%−17%+6%−15%−29%+17%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TBI58%42%50%42%42%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TBI−20%−46%−48%−56%−55%−40%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 90% from October 25, 2021 to March 27, 2026. Getting back needed a 888% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$3.31 – $10.85
From 52-week high
−9.0%
vs 50-day average
+4.9%
vs 200-day average
+44.9%
Volatility (1 year)
71%
Beta vs S&P 500
0.56

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 9 down
typical move ±13.7%
After a week
5 up, 7 down
typical move ±14.4%
After a month
6 up, 6 down
typical move ±16.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +31.3% +1.6% +35.1% +35.3%
May 5, 2026 +1.3% +2.2% −11.6% +14.9%
February 18, 2026 −11.5% +0.2% −14.0% −17.0%
November 3, 2025 +15.8% −1.0% +2.7% +9.1%
August 4, 2025 −8.4% +1.0% −14.9% −14.0%
May 5, 2025 −13.5% −1.4% +4.7% +34.9%
February 19, 2025 −14.2% −0.2% −17.1% −21.4%
November 4, 2024 −3.6% +1.0% +2.1% +7.9%
August 5, 2024 −28.2% −2.0% −33.7% −30.9%
May 6, 2024 −0.1% +1.1% +6.2% +5.0%
February 21, 2024 −13.8% +2.2% −9.1% −3.9%
October 23, 2023 −23.1% +0.6% −21.9% −1.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Trueblue, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Trueblue, Inc.
$1.4B $1.6B $1.8B $2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $2B Revenue (TTM), FY23 Q4: $1.9B Revenue (TTM), FY24 Q1: $1.8B Revenue (TTM), FY24 Q2: $1.8B Revenue (TTM), FY24 Q3: $1.7B Revenue (TTM), FY24 Q4: $1.6B Revenue (TTM), FY25 Q1: $1.5B Revenue (TTM), FY25 Q2: $1.5B Revenue (TTM), FY25 Q3: $1.6B Revenue (TTM), FY25 Q4: $1.6B Revenue (TTM), FY26 Q1: $1.6B Revenue (TTM), FY26 Q2: $1.7B $1.7B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $2B
FY23 Q4 $1.9B
FY24 Q1 $1.8B
FY24 Q2 $1.8B
FY24 Q3 $1.7B
FY24 Q4 $1.6B
FY25 Q1 $1.5B
FY25 Q2 $1.5B
FY25 Q3 $1.6B
FY25 Q4 $1.6B
FY26 Q1 $1.6B
FY26 Q2 $1.7B
Revenue growth, TTM YoY Trueblue, Inc.
-20% -10% 0% 10% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -15.0% Revenue growth, TTM YoY, FY23 Q4: -15.4% Revenue growth, TTM YoY, FY24 Q1: -15.0% Revenue growth, TTM YoY, FY24 Q2: -14.9% Revenue growth, TTM YoY, FY24 Q3: -15.1% Revenue growth, TTM YoY, FY24 Q4: -17.8% Revenue growth, TTM YoY, FY25 Q1: -16.8% Revenue growth, TTM YoY, FY25 Q2: -13.0% Revenue growth, TTM YoY, FY25 Q3: -5.4% Revenue growth, TTM YoY, FY25 Q4: 3.1% Revenue growth, TTM YoY, FY26 Q1: 7.1% Revenue growth, TTM YoY, FY26 Q2: 10.2% 10.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -15.0%
FY23 Q4 -15.4%
FY24 Q1 -15.0%
FY24 Q2 -14.9%
FY24 Q3 -15.1%
FY24 Q4 -17.8%
FY25 Q1 -16.8%
FY25 Q2 -13.0%
FY25 Q3 -5.4%
FY25 Q4 3.1%
FY26 Q1 7.1%
FY26 Q2 10.2%
Operating margin (TTM) Trueblue, Inc.
-6% -4% -2% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -0.4% Operating margin (TTM), FY23 Q4: -1.3% Operating margin (TTM), FY24 Q1: -1.8% Operating margin (TTM), FY24 Q2: -4.9% Operating margin (TTM), FY24 Q3: -5.4% Operating margin (TTM), FY24 Q4: -5.9% Operating margin (TTM), FY25 Q1: -6.0% Operating margin (TTM), FY25 Q2: -2.2% Operating margin (TTM), FY25 Q3: -1.7% Operating margin (TTM), FY25 Q4: -2.9% Operating margin (TTM), FY26 Q1: -3.1% Operating margin (TTM), FY26 Q2: -2.9% -2.9%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -0.4%
FY23 Q4 -1.3%
FY24 Q1 -1.8%
FY24 Q2 -4.9%
FY24 Q3 -5.4%
FY24 Q4 -5.9%
FY25 Q1 -6.0%
FY25 Q2 -2.2%
FY25 Q3 -1.7%
FY25 Q4 -2.9%
FY26 Q1 -3.1%
FY26 Q2 -2.9%
FCF margin (TTM) Trueblue, Inc.
-6% -4% -2% 0% 2% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 1.5% FCF margin (TTM), FY23 Q4: 0.2% FCF margin (TTM), FY24 Q1: -1.0% FCF margin (TTM), FY24 Q2: -1.8% FCF margin (TTM), FY24 Q3: -2.1% FCF margin (TTM), FY24 Q4: -2.6% FCF margin (TTM), FY25 Q1: -3.0% FCF margin (TTM), FY25 Q2: -3.6% FCF margin (TTM), FY25 Q3: -4.1% FCF margin (TTM), FY25 Q4: -4.6% FCF margin (TTM), FY26 Q1: -3.6% FCF margin (TTM), FY26 Q2: -4.0% -4.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 1.5%
FY23 Q4 0.2%
FY24 Q1 -1.0%
FY24 Q2 -1.8%
FY24 Q3 -2.1%
FY24 Q4 -2.6%
FY25 Q1 -3.0%
FY25 Q2 -3.6%
FY25 Q3 -4.1%
FY25 Q4 -4.6%
FY26 Q1 -3.6%
FY26 Q2 -4.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2015 Dec 2015 2016 Jan 2017 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 354 2,751 2,509 2,499 2,369 1,846 2,174 2,254 1,906 1,567 1,616 1,691
Gross profit 636 680 634 655 620 441 560 602 506 406 368 359
EBITDA 140 30 124 115 104 −143 96 101 2 −63 −18 −21
Operating income 98 −17 78 74 66 −175 68 72 −24 −93 −47 −49
Net income 71 −15 55 66 63 −142 62 62 −14 −126 −48 −57
Diluted EPS $1.71 −$0.37 $1.34 $1.63 $1.61 −$4.01 $1.74 $1.86 −$0.45 −$4.17 −$1.61 −$1.88
Growth (year on year)
Revenue — +677.0% −8.8% −0.4% −5.2% −22.1% +17.7% +3.7% −15.4% −17.8% +3.1% +10.2%
EBITDA — −78.7% — −7.0% −9.8% −237.7% — +5.7% −98.1% — — —
Operating income — −117.4% — −4.7% −10.5% −364.3% — +5.5% −133.0% — — —
Net income — −121.4% — +18.6% −4.1% −324.9% — +1.0% −122.8% — — —
Diluted EPS — −121.6% — +21.6% −1.2% −349.1% — +6.9% −124.2% — — —
Margins
Gross margin — 24.7% 25.3% 26.2% 26.2% 23.9% 25.8% 26.7% 26.5% 25.9% 22.8% 21.2%
EBITDA margin 39.5% 1.1% 4.9% 4.6% 4.4% −7.7% 4.4% 4.5% 0.1% −4.0% −1.1% −1.3%
Operating margin 27.6% −0.6% 3.1% 3.0% 2.8% −9.5% 3.1% 3.2% −1.3% −5.9% −2.9% −2.9%
Net margin 20.1% −0.6% 2.2% 2.6% 2.7% −7.7% 2.8% 2.8% −0.7% −8.0% −3.0% −3.3%
Free-cash-flow margin 15.2% 8.4% 3.1% 4.3% 2.8% 6.8% −0.7% 4.0% 0.2% −2.6% −4.6% −4.0%
Cash flow
Cash from operations 72 261 100 126 94 153 20 121 35 −17 −58 −54
Capital spending 18 29 22 17 28 27 35 31 31 24 16 13
Free cash flow 54 232 78 109 65 125 −15 90 3 −41 −74 −67
Stock-based pay 11 9 8 14 10 9 14 10 14 8 7 7
Free cash flow after stock pay 43 222 70 95 56 116 −29 80 −10 −49 −81 −74
Balance sheet
Cash 30 35 29 47 38 63 50 72 62 23 25 23
Total debt 246 138 119 80 37 0 0 — 0 8 66 82
Net debt (negative = net cash) 216 103 90 33 −1 −63 −50 −72 −62 −15 41 59
Diluted shares 42m 42m 41m 40m 39m 35m 35m 33m 31m 30m 30m 30m
Returned to shareholders
Buybacks 0 6 37 35 39 52 17 61 34 21 0 —
Total returned 0 6 37 35 39 52 17 61 34 21 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · June 28, 2026
What it owns · $623m
Short-term assets $318mLonger-term assets $305m
What it owes, and who funded it · $623m
Short-term liabilities $139mLonger-term liabilities $229mShareholders' equity $255m
  • Short-term assets cover short-term liabilities $318m of assets due within a year against $139m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $318m short-term assets against $229m of longer-dated liabilities.
  • More cash than debt $23m of cash against $82m of debt.
  • Debt below 40% of shareholders' equity Debt is 32% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 32% over five years.
  • A year's operating cash flow covers at least 20% of debt −$54m of operating cash flow against $82m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Trueblue, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$55.5M
Diluted share count
+1.3%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
Sales & admin spending
21.2%
of revenue
Days sales outstanding
58 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in human resource & employment services
Last 12 months unless stated TBI FA KFRC BBSI KFY CIRC Median
Revenue, last 12 months $1.7bn $1.7bn $1.4bn $1.3bn $3.0bn $800m $1.7bn
Revenue growth, last 12 months 10.2% 32.9% 2.1% 5.6% 6.9% 80.5% 5.6%
Revenue growth, 3-year average −6.6% 28.7% −4.8% 5.9% 1.4% >999% −0.5%
Revenue growth, latest quarter 11.8% 14.9% 7.5% 3.8% 6.9% 210.8% 5.2%
Gross margin 21.2% — 27.8% 20.0% — 8.6% 28.0%
Operating margin −2.9% 10.7% 4.5% 4.1% 12.9% −7.8% 1.0%
Operating margin, 3-year average −3.3% 5.6% 4.7% 4.8% 11.3% −5.9% 2.3%
Net margin −3.3% 1.5% 3.0% 2.8% 9.4% −19.4% 1.5%
Cash from operations / revenue −3.2% 15.7% 1.6% 2.9% 13.5% −2.9% 1.9%
Free-cash-flow margin −4.0% 15.0% 0.6% 1.2% 10.7% −2.9% 1.2%
Free-cash-flow margin, 3-year average −3.1% 12.3% 3.3% 1.1% 10.3% −2.5% 2.4%
Stock pay / revenue 0.4% 1.2% 1.1% 0.8% 1.6% 3.6% 1.3%
Change in share count 1.3% 6.2% −4.7% −3.3% −0.8% 31.5% −0.1%

Median of all 21 companies we cover in human resource & employment services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

21 human resource & employment services companies
Measure Company Peer median Rank
Revenue growth Growth 10.2% 5.6% 7 of 21
Change in growth rate Growth +3.0pp +0.5pp 7 of 20
Gross margin Profitability 21.2% 27.8% 10 of 17
Operating margin Profitability -2.9% 0.6% 14 of 19
Net margin Profitability -3.3% 1.5% 15 of 21
Free-cash-flow margin Cash generation -4.0% 1.2% 17 of 21
Stock pay as % of revenue Cash generation 0.4% 1.3% 3 of 20
Long-term debt as % of assets Balance sheet 13.2% 11.3% 9 of 14
Change in share count Balance sheet 1.3% -0.1% 13 of 20
Days sales outstanding Balance sheet 58 days 68 days 6 of 18

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 28, 2025
Geography
Region Revenue Share YoY
United States $1.5B 93.7% ▲ 3.9%
Outside the US $101M 6.3% ▼ 7.0%

From Trueblue, Inc.'s 10-K filed February 18, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$180M
Institutions reporting
113
Shares held vs prior quarter
▼ 1.1%
Positions opened / closed
24 / 13

Top buyers and sellers, Q2 2026: 59 institutions bought and 51 sold ; the biggest buyer was Ies Holdings, Inc (+1.3M shares) and the biggest seller Boston Partners (−789K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Pzena Investment Management LLC $21.5M 3.1M 11.9% ▲ 7.6%
Royce & Associates LP $19.5M 2.8M 10.8% ▲ 32.2%
Boston Partners $17.3M 2.5M 9.6% ▼ 24.1%
Blackrock, Inc. $15.6M 2.2M 8.6% ▲ 3.4%
Ies Holdings, Inc. $9M 1.3M 5.0% New
Vanguard Capital Management LLC $8.8M 1.3M 4.9% ▲ 1.0%
Hotchkis & Wiley Capital Management LLC $8.4M 1.2M 4.6% ▼ 16.1%
Charles Schwab Investment Management Inc $8.3M 1.2M 4.6% ▼ 30.5%
Azarias Capital Management, L.P. $5.3M 759K 2.9% ▼ 24.2%
Geode Capital Management, LLC $5.3M 754K 2.9% ▲ 4.4%
State Street Corp $4.6M 657K 2.5% ▼ 2.5%
Russell Investments Group, Ltd. $4.6M 657K 2.5% ▼ 21.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Trueblue, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $149,086 3 trades by 3 insiders, last 12 months Insider sales History → $14,712 1 trade by 1 insider · 0% under pre-set plans
Net ▲ $134,374 net buying
Insider Date Trade Shares Price Value
Lontoh Sonita Director June 5, 2026 Sell 2,186 $6.73 $14,712
Ferencz Garrett EVP, Chief Legal Officer February 25, 2026 Buy 7,000 $3.61 $25,270
Owen Taryn R CEO and President February 24, 2026 Buy 20,400 $3.79 $77,316
Schweihs Carl EVP and CFO February 23, 2026 Buy 12,500 $3.72 $46,500

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 18, 2026
  • November 3, 2025
  • August 4, 2025
  • May 5, 2025

Recent SEC filings

Data status

When each part of this page on Trueblue, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Trueblue, Inc. in brief

What does Trueblue, Inc. do?
Trueblue, Inc. is a US-listed company in the human resource & employment services industry. Its financial year ends in December.
What is Trueblue, Inc.'s stock ticker?
Trueblue, Inc. trades under the ticker TBI on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Trueblue, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Trueblue, Inc. reported revenue of $1.7B, 10.2% higher than a year earlier, according to its SEC filings.
What is Trueblue, Inc.'s free cash flow?
Trueblue, Inc.'s free-cash-flow margin is -4.0% of revenue over the trailing twelve months, ranking 17 of the 21 human resource & employment services companies we cover.
Who are Trueblue, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Pzena Investment Management LLC, Royce & Associates LP and Boston Partners. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Trueblue, Inc. buying back stock, and does it pay a dividend?
Trueblue, Inc. spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 1.3% over the year.
What is Trueblue, Inc.'s market cap?
On November 2, 2026, Trueblue, Inc.'s market capitalisation was about $297M and net debt of $59.1M. Market figures come from third-party market data and may be delayed.
How much debt does Trueblue, Inc. have?
Trueblue, Inc.'s debt-to-equity ratio is 32.4%, from its latest balance sheet (0.0% five years earlier). The financial health section below sets out its other solvency checks.
Who are Trueblue, Inc.'s competitors?
In our Human Resource & Employment Services peer group, the companies closest to Trueblue, Inc. are First Advantage Corp, Kforce Inc, Barrett Business Services Inc, Korn Ferry and Circle8 Group Inc. The side-by-side comparison below sets their revenue, margins and growth against Trueblue, Inc.'s.
Are insiders buying or selling Trueblue, Inc. stock?
Over the last 12 months, Trueblue, Inc.'s directors and officers reported 3 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Trueblue, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Trueblue, Inc. announces its own schedule.