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Barrett Business Services, Inc (BBSI) Fair Value & Analysis

Industrials · US · Market cap $817M

BB Barrett Business Services, Inc logo Barrett Business Services, Inc BBSI · US
Price$33.18
Fair Value$38.42
Upside+15.8%
Quality69/100
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Healthy Growth
Thin margins · 3.2% net margin
Low debt · generates free cash flow
0.97% dividend yield
Mixed vs. peers (7/15)
Narrow moat 44/100
Evidence: High Range $24.72 – $49.47 Share as image

Fair value as of: Jul 14, 2026

From 26 valuation models · updated 27 days ago

Share price −11.3% over the past month.

A solid business, screening 16% undervalued on our models.

What matters now

  • A fairly wide model range ($24.72 to $49.47) leaves room in how you read the outcome.
  • Our model range runs from $24.72 (bear) to $49.47 (bull), base $38.42. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

$48.78 $13.95 Fair Value $38.42 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range $13.95 – $48.78 · fair‑value band $24.72 – $49.47 · the $33.18 price screens below the $38.42 fair value. Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Barrett Business Services, Inc (BBSI) currently trades at $33.18, while our model-based Fair Value estimate is $38.42, implying the stock looks roughly 15.8% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Barrett Business Services, Inc generated revenue of $1.3B at a net margin of 3.2%. Revenue grew 4.9% year over year. It earns a return on equity of 19.4%. The balance sheet holds a net cash position of $70.6M. Fundamentals as of Jul 14, 2026

Our scenario range runs from $24.72 (bear case) to $49.47 (bull case); at $33.18, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 33% below its 52-week high and 32% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 23% fair-value upside, at 16%, BBSI screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $22.57 $31.78 $44.19 80
Residual Income $12.78 $17.76 $80.32 76
Rev-Margin DCF $24.55 $38.13 $54.47 74
All 26 models by family
DCF Models
FCF DCF $22.60 $32.54 $46.51 38
Owner Earnings $21.30 $30.55 $43.56 31
5Y Revenue Exit $24.55 $38.27 $56.18 39
5Y EBITDA Exit $26.34 $41.74 $60.17 41
5Y P/E Exit $30.14 $49.12 $69.74 38
10Y Revenue Exit $22.90 $34.67 $51.24 36
10Y EBITDA Exit $24.57 $36.91 $54.12 37
10Y P/E Exit $26.82 $41.69 $61.03 35
Earnings-Based
Graham-Dodd $15.08 $55.71 $75.26 54
Lynch FV $13.35 $19.07 $24.79 50
PEG = 1.0 $13.35 $19.07 $24.79 46
EPV $18.45 $20.46 $22.14 59
Dividend Discount
Gordon GGM $2.59 $4.66 $6.42 70
DDM Multi-Stage $2.59 $4.26 $4.98 61
Multiples
P/E Multiple $34.92 $46.56 $58.20 63
P/S Multiple $28.27 $37.69 $47.11 58
P/B Multiple $28.27 $37.69 $47.11 55
EV/EBIT $36.00 $46.76 $57.51 53
EV/EBITDA $31.68 $41.00 $50.32 54
EV/Revenue $26.76 $36.63 $46.50 43
Asset-Based
NCAV (Graham) $4.91 $6.57 $9.81 50
Growth DCF
Growth DCF $22.57 $31.78 $44.19 80
Rev-Margin DCF $24.55 $38.13 $54.47 74
Economic Profit
Residual Income $12.78 $17.76 $80.32 76
ROIC Compounder $19.59 $23.17 $27.14 72
Growth Earnings
Growth-Adj P/E $24.89 $35.55 $46.22 68

Widest divergence: Multiples ($37.69) versus Dividend Discount ($4.26). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $1.3B
Revenue growth (YoY) +4.9%
Net margin 3.2%
Return on equity 19.4%
Free cash flow $47.2M FY2025
P/E ratio 21.7
More key figures
Operating margin -2.1%
EPS (TTM) $1.53
Dividend yield 1.0%
EPS growth (YoY) +0.2%
Net cash $70.6M FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 66 · Market factors (momentum, volatility) 35

Profitability 64
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 75
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 18
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Barrett Business Services, Inc. provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.

Full company description

Barrett Business Services, Inc. provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company also offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers compensation coverage, and other administration functions for the client's existing workforce. In addition, it provides staffing and recruiting services, such as on-demand or short-term staffing assignment, contract staffing, direct placement, and long-term or indefinite-term on-site management services. The company serves customers in various industries, including construction, waste management and remediation services, manufacturing, transportation and warehousing, health care, leisure and hospitality, retail, professional and advisory services, and wholesale trade industries. Barrett Business Services, Inc. was incorporated in 1965 and is headquartered in Vancouver, Washington.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Barrett Business Services, Inc reported revenue of $1.2B in FY2025 versus $955M in FY2021, a compound +6.7%/yr. Reported net income was $54.4M in FY2025, compounding +9.4%/yr from FY2021.

Growth Quality 74/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$1.2B
Latest YoY
+8.4%
Avg. growth/yr (3Y)
+5.6%
Avg. growth/yr (5Y)
+7.1%
Avg. growth/yr (32Y)
+8.2%
Revenue +6.7%/yr
FY21 $955M
FY22 $1.1B
FY23 $1.1B
FY24 $1.1B
FY25 $1.2B
Net income +9.4%/yr
FY21 $38.1M
FY22 $47.3M
FY23 $50.6M
FY24 $53.0M
FY25 $54.4M

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Cite: Fair Value Calculator (2026). "Barrett Business Services, Inc Fair Value". https://www.fairvalue-calculator.com/stock/BBSI

Peer Group

Staffing & Employment Services · 85 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 69 · Top 25%
Fair Value upside +16% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) -2% · Bottom 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 1.0% · Bottom 25%
Debt / equity 0.02× · Lower than median

Valuation Multiples vs Staffing & Employment Services median · lower = cheaper

P/E (TTM) 21.7× · Pricier than median
P/B 3.39× · Pricier than 75% of peers
P/S (TTM) 0.65× · Pricier than 75% of peers
P/FCF 17.3× · Pricier than 75% of peers
EV/EBITDA 11.4× · Pricier than 75% of peers
PEG 1.46× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 54 · sector 41
FUTURE 25 · sector 1
PAST 78 · sector 36
HEALTH 99 · sector 95
DIVIDEND 19 · sector 60

Insider activity: 66/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Staffing & Employment Services stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
Adecco Group ADEN CHF 20.46 CHF 23.73 +16%
Korn Ferry, KFY $78.61 $114.56 +46%
Robert Half Inc RHI $36.70 $22.10 -40%
TriNet Group TNET $57.56 $70.85 +23%
ManpowerGroup Inc MAN $39.02 $29.67 -24%
Insperity, Inc NSP $49.48 $17.34 -65%
FESCO Group 600861 ¥13.24 ¥45.46 +243%
Grupa Pracuj S.A GPP 47.40 PLN 65.45 PLN +38%
Maharah for Human Resources Company 1831 5.36 SAR 6.92 SAR +29%
Kforce Inc KFRC $55.49 $31.93 -42%

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Frequently asked questions

Is Barrett Business Services, Inc (BBSI) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of $38.42 versus a price of $33.18, about +16% (undervalued).
What is the fair value of BBSI?
Our model-based fair value for Barrett Business Services, Inc is $38.42 (as of Jul 14, 2026), built from audited fundamentals. The current price is $33.18.
What is the quality score of BBSI?
Barrett Business Services, Inc has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Barrett Business Services, Inc (BBSI)?
Barrett Business Services, Inc reported trailing-twelve-month revenue of about $1.3B (latest available figure, as of Jul 14, 2026).
What is the net profit margin of BBSI?
The net profit margin of Barrett Business Services, Inc is about 3.2%, meaning it keeps roughly 3.2% of revenue as net income. Based on the latest reported figures.
Does Barrett Business Services, Inc pay a dividend?
Barrett Business Services, Inc currently shows a dividend yield of about 0.97% relative to its recent price (as of Jul 14, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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