TBI

MKT CAP:$143M

TrueBlue, Inc.

Market Cap

$143M

Industrials·Staffing & Employment Services·🇺🇸 United States·NYSE

Industrials·Staffing·🇺🇸·NYSE

Stock Price

$4.57+$0.17 (+3.86%)

Apr 22, 2026

Company Details

TrueBlue, 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 segm...

CEO

Taryn R. Owen

IPO Date

Apr 4, 1994

Website

www.trueblue.com

Key Metrics TTM

Revenue

$1.6B

+3.1% YoY

Net Income

-$48M

EPS (Diluted)

-$1.61

Free Cash Flow

-$74M

Revenue / Share

$53.97

Gross Margin

22.4%

Operating Margin

-1.8%

Net Margin

-3.0%

FCF Margin

-4.6%

P/S

0.1x

P/E

—

Earnings Reports

Q1 2026

May 4, 2026

PENDING

FY 2025

Feb 18, 2026

$1.6B+3.1%EPS -$1.61

Q4 2025

Feb 18, 2026

$418M+8.3%EPS -$1.06

Q3 2025

Nov 3, 2025

$431M+12.8%EPS -$0.06

Q2 2025

Aug 4, 2025

$396M+0.0%EPS -$0.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$552M	$140M	$12M
Q2 22	$569M	$159M	$29M
Q3 22	$576M	$156M	$24M
Q4 22	$558M	$148M	$7M
Q1 23	$465M	$123M	-$6M
Q2 23	$476M	$130M	-$7M
Q3 23	$473M	$124M	-$3M
Q4 23	$492M	$128M	-$9M
Q1 24	$403M	$99M	-$16M
Q2 24	$396M	$104M	-$60M
Q3 24	$382M	$100M	-$7M
Q4 24	$386M	$103M	-$10M
Q1 25	$370M	$86M	-$14M
Q2 25	$396M	$94M	-$3M
Q3 25	$431M	$98M	-$146.0K
Q4 25	$418M	$84M	-$12M

Valuation

Quarter	P/S	P/E
Q1 22	0.4x	14.6x
Q2 22	0.2x	7.7x
Q3 22	0.3x	8.3x
Q4 22	0.3x	10.3x
Q1 23	0.2x	11.3x
Q2 23	0.3x	33.8x
Q3 23	0.2x	—
Q4 23	0.2x	—
Q1 24	0.2x	—
Q2 24	0.2x	—
Q3 24	0.1x	—
Q4 24	0.2x	—
Q1 25	0.1x	—
Q2 25	0.1x	—
Q3 25	0.1x	—
Q4 25	0.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$26M	$21M
Q2 22	$27M	$18M
Q3 22	$27M	$18M
Q4 22	$40M	$32M
Q1 23	$9M	$1M
Q2 23	$12M	$4M
Q3 23	-$1M	-$9M
Q4 23	$15M	$7M
Q1 24	-$14M	-$22M
Q2 24	-$2M	-$8M
Q3 24	-$7M	-$13M
Q4 24	$6M	$854.0K
Q1 25	-$22M	-$27M
Q2 25	-$12M	-$16M
Q3 25	-$20M	-$23M
Q4 25	-$4M	-$7M

Capital Expenditures

Quarter	CapEx
Q1 22	$6M
Q2 22	$8M
Q3 22	$9M
Q4 22	$8M
Q1 23	$8M
Q2 23	$8M
Q3 23	$7M
Q4 23	$8M
Q1 24	$7M
Q2 24	$6M
Q3 24	$6M
Q4 24	$5M
Q1 25	$5M
Q2 25	$4M
Q3 25	$4M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+20.2%	+19.2%
Q2 22	+10.3%	+8.6%
Q3 22	-0.2%	-0.7%
Q4 22	-10.3%	-8.2%
Q1 23	-15.6%	-12.7%
Q2 23	-16.5%	-10.7%
Q3 23	-17.8%	-13.7%
Q4 23	-11.7%	-9.1%
Q1 24	-13.4%	-11.2%
Q2 24	-16.7%	-5.4%
Q3 24	-19.2%	-18.2%
Q4 24	-21.6%	-20.9%
Q1 25	-8.1%	-8.1%
Q2 25	+0.0%	-12.5%
Q3 25	+12.8%	+10.8%
Q4 25	+8.3%	+8.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	0.7%
Q2 22	$675.0K	0.1%
Q3 22	$3M	0.6%
Q4 22	$2M	0.4%
Q1 23	$3M	0.6%
Q2 23	$3M	0.6%
Q3 23	$5M	1.0%
Q4 23	$4M	0.7%
Q1 24	$2M	0.5%
Q2 24	$3M	0.7%
Q3 24	$832.0K	0.2%
Q4 24	$2M	0.5%
Q1 25	$2M	0.6%
Q2 25	$2M	0.6%
Q3 25	$1M	0.3%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 22	$121M
Q2 22	$122M
Q3 22	$124M
Q4 22	$134M
Q1 23	$123M
Q2 23	$121M
Q3 23	$121M
Q4 23	$130M
Q1 24	$107M
Q2 24	$97M
Q3 24	$100M
Q4 24	$107M
Q1 25	$95M
Q2 25	$90M
Q3 25	$92M
Q4 25	$95M

Revenue Segments

Quarter	People Management	People Ready	People Scout
Q1 22	$164M	$306M	$82M
Q2 22	$162M	$318M	$89M
Q3 22	$164M	$335M	$77M
Q1 23	$143M	$253M	$69M
Q2 23	$141M	$275M	$60M
Q3 23	$137M	$283M	$53M
Q4 23	$160M	$285M	$47M
Q1 24	$134M	$223M	$46M
Q2 24	$132M	$223M	$41M
Q3 24	$131M	$215M	$37M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$37M	$0	$37M
Q2 22	$32M	$0	$32M
Q3 22	$44M	$0	$44M
Q4 22	$72M	$0	$72M
Q1 23	$47M	$0	$47M
Q2 23	$50M	$0	$50M
Q3 23	$47M	$0	$47M
Q4 23	$62M	$0	$62M
Q1 24	$36M	$0	$36M
Q2 24	$26M	$0	$26M
Q3 24	$15M	$0	$15M
Q4 24	$23M	$0	$23M
Q1 25	$23M	$0	$23M
Q2 25	$22M	$0	$22M
Q3 25	$20M	$0	$20M
Q4 25	$25M	$0	$25M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	35M	-3.0%	-1.5%
Q2 22	33M	-4.0%	-6.2%
Q3 22	33M	-1.0%	-7.5%
Q4 22	33M	+0.6%	-7.3%
Q1 23	32M	-2.2%	-6.5%
Q2 23	31M	-4.1%	-6.6%
Q3 23	31M	-0.1%	-5.7%
Q4 23	31M	+0.5%	-5.9%
Q1 24	31M	+0.1%	-3.7%
Q2 24	30M	-2.4%	-2.0%
Q3 24	30M	-2.1%	-4.0%
Q4 24	30M	-0.5%	-4.9%
Q1 25	30M	+0.5%	-4.5%
Q2 25	30M	+0.5%	-1.6%
Q3 25	30M	+0.1%	+0.6%
Q4 25	30M	+0.2%	+1.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$86.2K	6K
Q2 22	$88.9K	6K
Q3 22	$90.0K	6K
Q4 22	$85.8K	7K
Q1 23	$71.6K	7K
Q2 23	$73.2K	7K
Q3 23	$72.8K	7K
Q4 23	$98.4K	5K
Q1 24	$80.6K	5K
Q2 24	$79.2K	5K
Q3 24	$76.5K	5K
Q4 24	$91.9K	4K
Q1 25	$88.2K	4K
Q2 25	$94.4K	4K
Q3 25	$102.7K	4K
Q4 25	$119.5K	4K

Revenue / Employee