What is Trueblue, Inc.'s earnings per share (EPS)?

Trueblue, Inc. (TBI) reported diluted earnings per share of -$1.61 for fiscal year 2025. This represents a 61.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Trueblue, Inc. (TBI) Financials

TBI

Trailing 12 months to June 28, 2026

Revenue $1.7B +10.2% YoY

Net Income -$56.6M -67.3% YoY

EPS (Diluted) -$1.89 -61.5% YoY

Free Cash Flow -$67.4M -23.3% YoY

Market Cap $273.1M as of Oct 6, 2026

Price / Sales 0.2x on $1.7B revenue, trailing 12 months to June 28, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 28, 2026

Price / Book 1.1x on $254.7M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 28, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TBI SEC filings page.

Trueblue, Inc. (TBI) reported $1.7B in revenue over the twelve months to Jun 28, 2026, up 10.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TBI FY2025 2026-10-03

TrueBlue’s partial revenue recovery has not restored profitability: cash losses persist while debt rises and gross economics weaken.

In FY2025, revenue recovered to $1.6B, yet gross margin fell to 22.8%; the business therefore had weaker gross economics even as its operating loss narrowed. SG&A discipline helped: spending fell to $371M from $411M in FY2024, explaining why lower gross profit did not translate into an equally large operating loss.

FY2025 net loss was $48.0M and operating cash flow was -$58.0M, showing that the accounting loss translated into cash pressure. After capital spending of $15.7M, free cash flow reached -$73.7M, making reinvestment an additional cash drain rather than a self-funded use.

The 2.1x current ratio coexists with $65.8M of debt, so improved short-term coverage does not mean the balance sheet is less debt-reliant. Reported liquidity equaled 5.1 months of the latest annual outflow, a bounded comparison that sits alongside continued operating cash needs.

Financial Health Signals

Financial Health Score 33/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Trueblue, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Trueblue, Inc. has an operating margin of -2.9%, meaning the company loses $3 on every $100 of revenue. This results in a profitability score of 21/100. This is up from -5.9% the prior year.

Growth

Trueblue, Inc.'s revenue grew a modest 3.1% year-over-year to $1.6B. This slow but positive growth earns a score of 11/100.

Leverage

Trueblue, Inc. carries a low D/E ratio of 0.24, meaning only $0.24 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Trueblue, Inc.'s current ratio of 2.15 indicates adequate short-term liquidity, earning a score of 63/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Trueblue, Inc.'s operations used $58.0M of cash, and capex of $15.7M added to the outflow, for a free cash flow shortfall of $73.7M. This results in a cash flow score of 19/100.

Returns

Trueblue, Inc. posts a -17.5% return on equity (ROE), meaning it loses $17 for every $100 of shareholders' equity. This results in a returns score of 14/100. This is up from -39.9% the prior year.

Altman Z-Score Safe

3.69

Trueblue, Inc. scores 3.69, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Weak

3/9

Trueblue, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Trueblue, Inc. reported a net loss of $48.0M while operations used $58.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue

$443.0M

YoY+11.8%

QoQ+11.1%

5Y CAGR-3.0%

10Y CAGR-5.9%

Trueblue, Inc. generated $443.0M in revenue in Q2 2026. This represents an increase of 11.8% from the same quarter a year earlier. Against the prior quarter it is up 11.1%.

EBITDA

$4.7M

YoY+3.6%

QoQ+143.0%

5Y CAGR-28.9%

10Y CAGR-19.9%

Trueblue, Inc.'s EBITDA was $4.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.6% from the same quarter a year earlier. Against the prior quarter it is up 143.0%.

Net Income

-$3.4M

YoY-2005.6%

QoQ+83.0%

Trueblue, Inc. reported -$3.4M in net income in Q2 2026. This represents a decrease of 2005.6% from the same quarter a year earlier. Against the prior quarter it is up 83.0%.

EPS (Diluted)

-$0.11

QoQ+83.3%

Trueblue, Inc. earned -$0.11 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 83.3%.

Cash & Balance Sheet

Free Cash Flow

-$24.0M

YoY-49.2%

QoQ-90.0%

Trueblue, Inc. recorded an outflow of $24.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 49.2% from the same quarter a year earlier. Against the prior quarter it is down 90.0%.

Cash & Debt

$23.3M

YoY+6.2%

QoQ-3.6%

5Y CAGR-26.1%

10Y CAGR-2.4%

Trueblue, Inc. held $23.3M in cash against $82.4M in long-term debt as of Q2 2026.

Shares Outstanding

30M

QoQ+0.1%

5Y CAGR-3.0%

10Y CAGR-3.2%

Trueblue, Inc. had 30M shares outstanding in Q2 2026. Against the prior quarter it is up 0.1%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

20.7%

YoY-2.9pp

QoQ+0.8pp

5Y change-5.8pp

10Y change-2.1pp

Trueblue, Inc.'s gross margin was 20.7% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.

Operating Margin

-0.3%

YoY+0.5pp

QoQ+4.2pp

5Y change-3.9pp

10Y change-4.3pp

Trueblue, Inc.'s operating margin was -0.3% in Q2 2026, reflecting core business profitability. This is up 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.2 percentage points.

Net Margin

-0.8%

YoY-0.7pp

QoQ+4.2pp

5Y change-3.8pp

10Y change-4.2pp

Trueblue, Inc.'s net profit margin was -0.8% in Q2 2026, showing the share of revenue converted to profit. This is down 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.2 percentage points.

Return on Equity

-1.3%

YoY-1.3pp

QoQ+6.4pp

5Y change-4.7pp

10Y change-6.6pp

Trueblue, Inc.'s ROE was -1.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.4 percentage points.

Capital Allocation

Capital Expenditures

$3.4M

YoY-20.7%

QoQ+19.3%

5Y CAGR-19.3%

10Y CAGR-5.3%

Trueblue, Inc. invested $3.4M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 20.7% from the same quarter a year earlier. Against the prior quarter it is up 19.3%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

TBI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TBI quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$1.7B	$1.6B+3.1%	$1.6B-17.8%	$1.9B-15.4%	$2.3B+3.7%	$2.2B+17.7%	$1.8B-22.1%	$2.4B-5.2%	$2.5B-0.4%	$2.5B-8.8%	$2.8B+677.0%	$354.0M-83.7%	$2.2B+30.3%	$1.7B+20.1%	$1.4B+5.6%	$1.3B
Cost of Revenue	$1.3B	$1.2B+7.5%	$1.2B-17.1%	$1.4B-15.2%	$1.7B+2.4%	$1.6B+14.8%	$1.4B-19.6%	$1.7B-5.1%	$1.8B-1.6%	$1.9B-9.5%	$2.1B	N/A	N/A	N/A	N/A	N/A
Gross Profit	$358.5M	$367.8M-9.5%	$406.4M-19.7%	$506.1M-16.0%	$602.1M+7.5%	$560.3M+27.2%	$440.6M-28.9%	$619.9M-5.4%	$655.4M+3.3%	$634.5M-6.7%	$679.7M	N/A	$537.0M+21.4%	$442.3M+18.8%	$372.4M+7.3%	$347.0M
SG&A Expenses	$357.8M	$371.1M-9.7%	$410.9M-16.9%	$494.6M-1.2%	$500.7M+7.8%	$464.3M+13.7%	$408.3M-20.9%	$516.2M-4.5%	$540.5M+5.8%	$510.8M-6.5%	$546.5M+10.2%	$496.0M+16.5%	$425.8M+17.5%	$362.2M+20.6%	$300.5M+6.2%	$282.8M
Operating Income	-$48.6M	-$46.6M+49.7%	-$92.8M-289.0%	-$23.9M-133.0%	$72.2M+5.5%	$68.4M+139.1%	-$174.9M-364.3%	$66.2M-10.5%	$73.9M-4.7%	$77.6M+556.4%	-$17.0M-117.4%	$97.8M+19.7%	$81.7M+37.2%	$59.6M+12.3%	$53.0M+10.9%	$47.8M
EBITDA	N/A	-$17.8M+71.9%	-$63.2M-3307.2%	$2.0M-98.1%	$101.5M+5.7%	$96.0M+167.2%	-$142.9M-237.7%	$103.7M-9.8%	$115.0M-7.0%	$123.7M+316.5%	$29.7M-78.7%	$139.7M+25.6%	$111.2M+38.9%	$80.1M+11.3%	$71.9M+12.0%	$64.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$2.8M-43.0%	$4.9M-11.2%	$5.5M-23.3%	$7.2M+72.3%	$4.2M+31.8%	$3.2M+152.9%	$1.2M+10.3%	$1.1M-6.3%	$1.2M
Income Tax	$3.3M	$2.3M-93.7%	$37.2M+675.2%	-$6.5M-158.1%	$11.1M-8.8%	$12.2M+138.9%	-$31.4M-550.7%	$7.0M-29.6%	$9.9M-55.2%	$22.1M+534.2%	-$5.1M-120.2%	$25.2M+55.9%	$16.2M+1.0%	$16.0M-23.7%	$21.0M+13.2%	$18.5M
Net Income	-$56.6M	-$48.0M+61.9%	-$125.7M-787.2%	-$14.2M-122.8%	$62.3M+1.0%	$61.6M+143.5%	-$141.8M-324.9%	$63.1M-4.1%	$65.8M+18.6%	$55.5M+463.6%	-$15.3M-121.4%	$71.2M+8.5%	$65.7M+46.2%	$44.9M+33.6%	$33.6M+9.2%	$30.8M
EPS (Basic)	N/A	-$1.61+61.4%	-$4.17-826.7%	-$0.45-123.8%	$1.89+6.8%	$1.77+144.1%	-$4.01-346.0%	$1.63-0.6%	$1.64+21.5%	$1.35+464.9%	-$0.37-121.4%	$1.73+7.5%	$1.61+43.7%	$1.12+31.8%	$0.85+16.4%	$0.73
EPS (Diluted)	-$1.89	-$1.61+61.4%	-$4.17-826.7%	-$0.45-124.2%	$1.86+6.9%	$1.74+143.4%	-$4.01-349.1%	$1.61-1.2%	$1.63+21.6%	$1.34+462.2%	-$0.37-121.6%	$1.71+7.5%	$1.59+43.2%	$1.11+32.1%	$0.84+15.1%	$0.73
Diluted Shares (Avg)	N/A	30M-1.1%	30M-3.6%	31M-6.4%	33M-5.6%	35M+0.2%	35M-9.7%	39M-2.7%	40M-2.8%	41M-0.5%	42M+0.1%	42M+1.1%	41M+1.7%	41M+1.6%	40M-5.8%	42M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$443.0M+11.8%	$398.6M+7.6%	$418.2M+8.3%	$431.3M+12.8%	$396.3M0.0%	$370.3M-8.1%	$386.0M-21.6%	$382.4M-19.2%
Cost of Revenue	$351.4M+16.1%	$319.5M+12.6%	$328.1M+15.8%	$333.4M+18.1%	$302.7M+3.7%	$283.9M-6.4%	$283.4M-22.1%	$282.3M-19.1%
Gross Profit	$91.6M-2.1%	$79.0M-8.5%	$90.0M-12.2%	$97.9M-2.1%	$93.6M-10.4%	$86.3M-13.1%	$102.5M-20.1%	$100.0M-19.4%
SG&A Expenses	$83.8M-6.6%	$87.3M-7.7%	$94.9M-11.2%	$91.7M-8.2%	$89.8M-7.4%	$94.6M-11.5%	$106.9M-17.7%	$100.0M-17.2%
Operating Income	-$1.2M+60.5%	-$17.8M-26.4%	-$29.4M-182.8%	-$146K+97.9%	-$2.9M+95.1%	-$14.1M+8.9%	-$10.4M-20.6%	-$6.9M-153.2%
EBITDA	$4.7M+3.6%	-$11.0M-50.1%	-$22.2M-542.8%	$7.2M+11148.4%	$4.6M+108.7%	-$7.3M+3.2%	-$3.5M-106.0%	$64K-98.1%
Income Tax	$887K+627.0%	$576K+37.8%	$1.1M-36.3%	$711K-43.3%	$122K-99.7%	$418K+103.4%	$1.7M+134.9%	$1.3M+153.9%
Net Income	-$3.4M-2005.6%	-$19.8M-38.0%	-$31.5M-169.4%	-$1.9M+74.9%	-$160K+99.8%	-$14.3M-745.0%	-$11.7M-358.8%	-$7.6M-76250.0%
EPS (Basic)	-$0.11-1000.0%	-$0.66-37.5%	-$1.06-152.4%	-$0.06+76.9%	-$0.01+99.7%	-$0.48-860.0%	-$0.42-425.0%	-$0.26
EPS (Diluted)	-$0.11	-$0.66-37.5%	-$1.06-152.4%	-$0.06+76.9%	-$0.01	-$0.48-860.0%	-$0.42-425.0%	-$0.26
Diluted Shares (Avg)	30M	30M+1.5%	N/A	30M+0.6%	30M	30M-4.5%	N/A	30M-4.0%

Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.

TBI Balance Sheet

TBI quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$638.7M-5.4%	$675.4M-24.9%	$899.4M-11.8%	$1.0B-1.3%	$1.0B+5.4%	$980.6M-13.7%	$1.1B+1.9%	$1.1B+0.5%	$1.1B-1.9%	$1.1B-10.2%	$1.3B+18.1%	$1.1B+48.3%	$719.5M+19.6%	$601.7M+7.3%	$560.8M
Current Assets	$297.6M+7.4%	$277.1M-21.9%	$355.0M-17.5%	$430.2M-3.3%	$445.1M+17.5%	$378.9M-10.2%	$421.7M-1.9%	$429.8M+0.4%	$428.3M+0.1%	$427.8M-21.2%	$543.0M+30.6%	$415.8M+16.6%	$356.5M+12.4%	$317.2M+13.0%	$280.6M
Cash & Equivalents	$24.5M+8.8%	$22.5M-63.6%	$61.9M-14.1%	$72.1M+44.4%	$49.9M-20.2%	$62.5M+66.2%	$37.6M-20.0%	$47.0M+63.3%	$28.8M-17.7%	$35.0M+17.4%	$29.8M+51.4%	$19.7M-83.9%	$122.0M-5.8%	$129.5M+18.5%	$109.3M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0-100.0%	$14.7M	$0	$0
Accounts Receivable	$241.2M+12.4%	$214.7M-15.0%	$252.5M-19.6%	$314.3M-11.2%	$353.9M+27.1%	$278.3M-18.7%	$342.3M-3.7%	$355.4M-5.0%	$374.3M+6.1%	$352.6M-23.6%	$461.5M+28.2%	$359.9M+80.4%	$199.5M+19.3%	$167.3M+8.7%	$153.9M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$42.5M+73.1%	$24.5M-70.8%	$84.1M-10.3%	$93.8M-0.8%	$94.5M-0.4%	$94.9M-60.1%	$237.5M+0.1%	$237.3M+4.7%	$226.7M+1.1%	$224.2M-16.5%	$268.5M+11.0%	$241.9M+194.1%	$82.2M+71.0%	$48.1M-0.1%	$48.1M
Total Liabilities	$364.1M+1.1%	$360.0M-18.5%	$441.5M-15.6%	$523.1M-3.2%	$540.2M-0.6%	$543.4M+6.5%	$510.2M-2.5%	$523.4M-5.6%	$554.2M-8.4%	$605.3M-16.4%	$723.9M+21.2%	$597.3M+83.2%	$326.1M+21.6%	$268.1M+0.3%	$267.2M
Current Liabilities	$138.5M-13.5%	$160.1M-21.5%	$204.1M-16.0%	$242.9M-6.1%	$258.5M-3.9%	$269.0M+16.5%	$230.8M+2.3%	$225.5M+6.2%	$212.4M-15.4%	$251.1M+10.2%	$228.0M+21.8%	$187.2M+54.2%	$121.4M+6.9%	$113.6M+1.1%	$112.3M
Non-Current Liabilities	$225.6M+12.8%	$199.9M-15.8%	$237.4M-15.3%	$280.2M-0.5%	$281.6M+2.6%	$274.4M-1.8%	$279.4M-6.2%	$297.9M-12.8%	$341.8M-3.5%	$354.1M-28.6%	$495.9M+20.9%	$410.1M+100.4%	$204.7M+32.5%	$154.5M-0.3%	$154.9M
Long-Term Debt	$65.8M+765.8%	$7.6M	$0	N/A	$0	$0-100.0%	$37.1M-53.6%	$80.0M-31.3%	$116.5M-13.9%	$135.4M-44.4%	$243.4M+22.1%	$199.4M+572.3%	$29.7M	N/A	N/A
Total Equity	$274.6M-12.9%	$315.4M-31.1%	$457.9M-7.7%	$496.3M+0.7%	$493.1M+12.8%	$437.2M-30.2%	$626.0M+5.8%	$591.4M+6.6%	$554.8M+5.6%	$525.2M-1.9%	$535.6M+14.1%	$469.3M+19.3%	$393.4M+17.9%	$333.7M+13.7%	$293.6M
Retained Earnings	$296.2M-12.2%	$337.6M-29.5%	$478.6M-7.3%	$516.3M+1.5%	$508.8M+12.6%	$452.0M-29.3%	$639.2M+5.5%	$606.1M+7.9%	$561.6M+4.7%	$536.6M-2.4%	$549.6M+17.3%	$468.5M+19.7%	$391.3M+18.3%	$330.9M+13.7%	$290.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$623.0M-7.4%	$620.7M-10.4%	$638.7M-5.4%	$690.5M-1.7%	$672.8M-7.0%	$692.5M-20.3%	$675.4M-24.9%	$702.4M-23.2%
Current Assets	$318.4M+11.0%	$301.3M+7.2%	$297.6M+7.4%	$313.2M+9.8%	$286.9M-4.6%	$281.0M-10.9%	$277.1M-21.9%	$285.3M-20.7%
Cash & Equivalents	$23.3M+6.2%	$24.1M+4.7%	$24.5M+8.8%	$19.9M+37.1%	$21.9M-17.0%	$23.1M-36.3%	$22.5M-63.6%	$14.5M-69.2%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Accounts Receivable	$267.8M+18.6%	$246.3M+12.5%	$241.2M+12.4%	$251.9M+11.8%	$225.7M-2.3%	$219.1M-10.3%	$214.7M-15.0%	$225.4M-18.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$38.9M-8.5%	$38.9M-7.9%	$42.5M+73.1%	$42.3M+67.3%	$42.6M+70.9%	$42.3M-49.6%	$24.5M-70.8%	$25.3M-70.2%
Total Liabilities	$368.3M+0.2%	$364.6M-6.6%	$364.1M+1.1%	$386.2M+2.9%	$367.6M-4.8%	$390.3M-7.6%	$360.0M-18.5%	$375.2M-18.1%
Current Liabilities	$139.4M-5.9%	$143.9M-8.0%	$138.5M-13.5%	$155.7M+0.7%	$148.1M-6.3%	$156.3M-15.0%	$160.1M-21.5%	$154.6M-22.9%
Non-Current Liabilities	$228.9M+4.3%	$220.7M-5.6%	$225.6M+12.8%	$230.5M+4.5%	$219.5M-3.7%	$233.9M-1.8%	$199.9M-15.8%	$220.6M-14.4%
Long-Term Debt	$82.4M+53.2%	$73.9M+27.9%	$65.8M+765.8%	$68.2M	$53.8M	$57.8M	$7.6M	N/A
Total Equity	$254.7M-16.6%	$256.1M-15.3%	$274.6M-12.9%	$304.3M-7.0%	$305.2M-9.6%	$302.2M-32.3%	$315.4M-31.1%	$327.2M-28.4%
Retained Earnings	$276.5M-15.4%	$277.8M-14.4%	$296.2M-12.2%	$326.1M-6.1%	$326.8M-8.8%	$324.4M-30.5%	$337.6M-29.5%	$347.3M-27.3%

Not reported in any period shown, so not listed: Inventory.

TBI Cash Flow Statement

TBI quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$54.5M	-$58.0M-240.3%	-$17.1M-149.1%	$34.8M-71.2%	$120.5M+489.5%	$20.4M-86.6%	$152.5M+63.1%	$93.5M-25.6%	$125.7M+25.5%	$100.1M-61.6%	$260.7M+261.7%	$72.1M+51.7%	$47.5M-44.8%	$86.1M+64.5%	$52.3M+71.1%	$30.6M
Depreciation & Amortization	N/A	$28.9M-2.4%	$29.6M+14.5%	$25.8M-11.8%	$29.3M+6.2%	$27.6M-14.0%	$32.0M-14.7%	$37.5M-8.5%	$41.0M-11.0%	$46.1M-1.2%	$46.7M+11.6%	$41.8M+42.0%	$29.5M+44.0%	$20.5M+8.4%	$18.9M+15.3%	$16.4M
Stock-Based Compensation	N/A	$7.3M-4.4%	$7.6M-45.4%	$13.9M+43.6%	$9.7M-30.5%	$13.9M+53.0%	$9.1M-6.7%	$9.8M-29.6%	$13.9M+79.2%	$7.7M-17.3%	$9.4M-15.7%	$11.1M+0.5%	$11.1M+31.4%	$8.4M+6.3%	$7.9M+6.5%	$7.4M
Capital Expenditures	$12.9M	$15.7M-35.1%	$24.2M-22.8%	$31.3M+2.1%	$30.6M-12.5%	$35.0M+29.3%	$27.1M-3.7%	$28.1M+64.9%	$17.1M-22.3%	$22.0M-24.4%	$29.0M+57.9%	$18.4M+8.7%	$16.9M+30.1%	$13.0M-27.1%	$17.8M+83.6%	$9.7M
Free Cash Flow	-$67.4M	-$73.7M-78.9%	-$41.2M-1284.8%	$3.5M-96.1%	$89.9M+717.0%	-$14.6M-111.6%	$125.5M+91.8%	$65.4M-39.8%	$108.6M+39.0%	$78.2M-66.3%	$231.7M+331.6%	$53.7M+75.4%	$30.6M-58.1%	$73.1M+111.8%	$34.5M+65.2%	$20.9M
Investing Cash Flow	$13.8M	-$16.1M-554.8%	-$2.5M+92.4%	-$32.3M-54.3%	-$20.9M-29.1%	-$16.2M+52.9%	-$34.4M-59.1%	-$21.6M-5.4%	-$20.5M+62.3%	-$54.4M+56.1%	-$123.9M-18.0%	-$105.0M+67.0%	-$318.4M-154.2%	-$125.3M-379.0%	-$26.2M+2.9%	-$26.9M
Financing Cash Flow	$27.7M	$57.1M+434.4%	-$17.1M+54.5%	-$37.6M+41.9%	-$64.7M-238.2%	-$19.1M+79.3%	-$92.5M-11.6%	-$82.9M-10.5%	-$75.0M+0.4%	-$75.3M+34.6%	-$115.1M-369.1%	$42.8M-74.8%	$169.8M+424.5%	$32.4M+624.3%	-$6.2M+89.2%	-$57.2M
Share Buybacks	N/A	$0-100.0%	$21.3M-37.7%	$34.2M-43.9%	$60.9M+265.4%	$16.7M-68.1%	$52.3M+34.8%	$38.8M+11.5%	$34.8M-5.1%	$36.7M+538.1%	$5.7M	$0	$0	$0-100.0%	$4.4M-92.3%	$56.9M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$20.6M-74.5%	-$9.8M+55.8%	-$4.4M-171.2%	-$19.8M-177.3%	-$11.8M-547.0%	-$22.1M-55.3%	$6.1M-59.6%	-$7.1M-450.3%
Depreciation & Amortization	$5.9M-21.5%	$6.9M+0.8%	$7.2M+3.6%	$7.3M+5.4%	$7.5M-2.5%	$6.8M-14.4%	$6.9M0.0%	$7.0M+12.7%
Stock-Based Compensation	N/A	$1.8M-13.0%	N/A	N/A	N/A	$2.1M-2.0%	N/A	N/A
Capital Expenditures	$3.4M-20.7%	$2.8M-39.6%	$3.1M-40.8%	$3.6M-35.4%	$4.3M-27.9%	$4.7M-36.5%	$5.3M-35.5%	$5.6M-23.9%
Free Cash Flow	-$24.0M-49.2%	-$12.6M+52.9%	-$7.5M-977.5%	-$23.4M-83.8%	-$16.1M-107.7%	-$26.8M-24.0%	$854K-87.8%	-$12.7M-47.0%
Investing Cash Flow	$6.9M+64.3%	$3.2M+113.4%	$30K+103.0%	$3.7M-4.5%	$4.2M+167.0%	-$24.0M-2708.1%	-$1.0M+82.4%	$3.9M+127.4%
Financing Cash Flow	$8.5M+300.0%	$7.2M-85.5%	-$2.4M-131.9%	$14.5M+440.8%	-$4.3M+38.0%	$49.4M+461.4%	$7.7M+3122.8%	-$4.2M-311.0%
Share Buybacks	N/A	N/A	$0-100.0%	$0-100.0%	$0-100.0%	$0-100.0%	-$8K	$4.3M+19513.6%

Not reported in any period shown, so not listed: Dividends Paid.

TBI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

TBI quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	22.8%-3.2pp	25.9%-0.6pp	26.6%-0.2pp	26.7%+0.9pp	25.8%+1.9pp	23.9%-2.3pp	26.2%-0.1pp	26.2%+0.9pp	25.3%+0.6pp	24.7%	N/A	24.7%-1.8pp	26.5%-0.3pp	26.8%+0.4pp	26.4%
Operating Margin	-2.9%+3.0pp	-5.9%-4.7pp	-1.3%-4.5pp	3.2%+0.1pp	3.1%+12.6pp	-9.5%-12.3pp	2.8%-0.2pp	3.0%-0.1pp	3.1%+3.7pp	-0.6%-28.3pp	27.6%+23.9pp	3.8%+0.2pp	3.6%-0.2pp	3.8%+0.2pp	3.6%
Net Margin	-3.0%+5.0pp	-8.0%-7.3pp	-0.7%-3.5pp	2.8%-0.1pp	2.8%+10.5pp	-7.7%-10.3pp	2.7%0.0pp	2.6%+0.4pp	2.2%+2.8pp	-0.5%-20.7pp	20.1%+17.1pp	3.0%+0.3pp	2.7%+0.3pp	2.4%+0.1pp	2.3%
Return on Equity	-17.5%+22.4pp	-39.9%-36.8pp	-3.1%-15.7pp	12.6%+0.1pp	12.5%+44.9pp	-32.4%-42.5pp	10.1%-1.0pp	11.1%+1.1pp	10.0%+12.9pp	-2.9%-16.2pp	13.3%-0.7pp	14.0%+2.6pp	11.4%+1.3pp	10.1%-0.4pp	10.5%
Return on Assets	-7.5%+11.1pp	-18.6%-17.0pp	-1.6%-7.7pp	6.1%+0.1pp	6.0%+20.4pp	-14.5%-20.0pp	5.5%-0.3pp	5.9%+0.9pp	5.0%+6.3pp	-1.4%-7.0pp	5.7%-0.5pp	6.2%-0.1pp	6.2%+0.6pp	5.6%+0.1pp	5.5%
Current Ratio	2.15+0.4x	1.730.0x	1.740.0x	1.770.0x	1.72+0.3x	1.41-0.4x	1.83-0.1x	1.91-0.1x	2.02+0.3x	1.70-0.7x	2.38+0.2x	2.22-0.7x	2.94+0.1x	2.79+0.3x	2.50
Debt-to-Equity	0.24+0.2x	0.020.0x	0.00-1.1x	1.05+1.1x	0.000.0x	0.00-0.1x	0.06-0.1x	0.14-0.1x	0.210.0x	0.26-0.2x	0.450.0x	0.42+0.3x	0.08-0.7x	0.80-0.1x	0.91
Asset Turnover	2.53+0.2x	2.32+0.2x	2.12-0.1x	2.21+0.1x	2.10+0.2x	1.88-0.2x	2.08-0.2x	2.240.0x	2.26-0.2x	2.43+2.2x	0.28-1.8x	2.04-0.3x	2.320.0x	2.310.0x	2.35
FCF Margin	-4.6%-1.9pp	-2.6%-2.8pp	0.2%-3.8pp	4.0%+4.7pp	-0.7%-7.5pp	6.8%+4.0pp	2.8%-1.6pp	4.3%+1.2pp	3.1%-5.3pp	8.4%-6.7pp	15.2%+13.8pp	1.4%-3.0pp	4.4%+1.9pp	2.5%+0.9pp	1.6%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	20.7%-2.9pp	19.8%-3.5pp	21.5%-5.0pp	22.7%-3.5pp	23.6%-2.7pp	23.3%-1.4pp	26.6%+0.5pp	26.2%-0.1pp
Operating Margin	-0.3%+0.5pp	-4.5%-0.7pp	-7.0%-4.3pp	0.0%+1.8pp	-0.7%+14.4pp	-3.8%0.0pp	-2.7%-0.9pp	-1.8%-1.2pp
Net Margin	-0.8%-0.7pp	-5.0%-1.1pp	-7.5%-4.5pp	-0.4%+1.6pp	0.0%+26.4pp	-3.9%-3.5pp	-3.0%-2.5pp	-2.0%-2.0pp
Return on Equity	-1.3%-1.3pp	-7.7%-3.0pp	-11.5%-7.8pp	-0.6%+1.7pp	-0.1%+30.9pp	-4.8%-4.4pp	-3.7%-3.2pp	-2.3%-2.3pp
Return on Assets	-0.5%-0.5pp	-3.2%-1.1pp	-4.9%-3.2pp	-0.3%+0.8pp	0.0%+14.4pp	-2.1%-1.9pp	-1.7%-1.4pp	-1.1%-1.1pp
Current Ratio	2.28+0.3x	2.09+0.3x	2.15+0.4x	2.01+0.2x	1.940.0x	1.80+0.1x	1.730.0x	1.85+0.1x
Debt-to-Equity	0.32+0.1x	0.29+0.1x	0.24+0.2x	0.22-0.9x	0.18-1.0x	0.19-0.8x	0.020.0x	1.15+0.1x
Asset Turnover	0.71+0.1x	0.64+0.1x	0.65+0.1x	0.62+0.1x	0.590.0x	0.53+0.1x	0.570.0x	0.540.0x
FCF Margin	-5.4%-1.4pp	-3.2%+4.1pp	-1.8%-2.0pp	-5.4%-2.1pp	-4.0%-2.1pp	-7.2%-1.9pp	0.2%-1.2pp	-3.3%-1.5pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Trueblue, Inc. TBI	FY2025	$1.6B	-$48.0M	-3.0%	$273.1M	33/100
HireQuest, Inc. HQI	FY2025	$30.6M	$6.3M	20.7%	$264.9M	50/100
Atlantic International Corp. ATLN	FY2025	$435.9M	-$59.4M	-13.6%	$74.8M	31/100
Mastech Digital, Inc. MHH	FY2025	$191.4M	$609	0.0%	$83.1M	46/100
BGSF, Inc. BGSF	FY2025	N/A	N/A	N/A	$51.0M	—
Kelly Services Inc KELYB	FY2025	$4.3B	-$600K	0.0%	$778.0M	35/100

Where Trueblue, Inc. Ranks

Frequently Asked Questions

What is Trueblue, Inc.'s annual revenue?

Trueblue, Inc. (TBI) reported $1.6B in total revenue for fiscal year 2025. This represents a 3.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Trueblue, Inc.'s revenue growing?

Trueblue, Inc. (TBI) revenue grew by 3.1% year-over-year, from $1.6B to $1.6B in fiscal year 2025.

Is Trueblue, Inc. profitable?

No, Trueblue, Inc. (TBI) reported a net income of -$48.0M in fiscal year 2025, with a net profit margin of -3.0%.

What is Trueblue, Inc.'s EBITDA?

Trueblue, Inc. (TBI) had EBITDA of -$17.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Trueblue, Inc. have?

As of fiscal year 2025, Trueblue, Inc. (TBI) had $24.5M in cash and equivalents against $65.8M in long-term debt.

What is Trueblue, Inc.'s gross margin?

Trueblue, Inc. (TBI) had a gross margin of 22.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Trueblue, Inc.'s operating margin?

Trueblue, Inc. (TBI) had an operating margin of -2.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Trueblue, Inc.'s net profit margin?

Trueblue, Inc. (TBI) had a net profit margin of -3.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Trueblue, Inc.'s return on equity (ROE)?

Trueblue, Inc. (TBI) has a return on equity of -17.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Trueblue, Inc.'s free cash flow?

Trueblue, Inc. (TBI) recorded an outflow of $73.7M in free cash flow during fiscal year 2025. This represents a -78.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Trueblue, Inc.'s operating cash flow?

Trueblue, Inc. (TBI) recorded an outflow of $58.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Trueblue, Inc.'s total assets?

Trueblue, Inc. (TBI) had $638.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Trueblue, Inc.'s capital expenditures?

Trueblue, Inc. (TBI) invested $15.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Trueblue, Inc. have outstanding?

Trueblue, Inc. (TBI) had 30M shares outstanding as of fiscal year 2025.

What is Trueblue, Inc.'s current ratio?

Trueblue, Inc. (TBI) had a current ratio of 2.15 as of fiscal year 2025, which is generally considered healthy.

What is Trueblue, Inc.'s debt-to-equity ratio?

Trueblue, Inc. (TBI) had a debt-to-equity ratio of 0.24 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Trueblue, Inc.'s return on assets (ROA)?

Trueblue, Inc. (TBI) had a return on assets of -7.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Trueblue, Inc.'s P/E ratio?

Trueblue, Inc. (TBI) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 28, 2026). The market capitalization is $273.1M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Trueblue, Inc.'s price-to-sales ratio?

Trueblue, Inc. (TBI) trades at 0.2x sales, its market capitalization divided by revenue of $1.7B revenue, trailing 12 months to June 28, 2026. The market capitalization is $273.1M as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Trueblue, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Trueblue, Inc. (TBI) held $24.5M in cash, cash equivalents and investments, and reported an operating cash outflow of $58.0M over that year. Dividing the one by the other, the reported balance equals about 5 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Trueblue, Inc.'s Altman Z-Score?

Trueblue, Inc. (TBI) has an Altman Z-Score of 3.69, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Trueblue, Inc.'s Piotroski F-Score?

Trueblue, Inc. (TBI) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Trueblue, Inc.'s earnings high quality?

Trueblue, Inc. (TBI) reported a net loss of $48.0M while operations used $58.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Trueblue, Inc.?

Trueblue, Inc. (TBI) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.