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TBI Financials Trueblue, Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →

Growth & profitability

  • Revenue has declined 2.6% per year over the past 5 years.
  • Operating margin has expanded, at -2.9% in the latest year.

Financial health

  • Total debt ($66M) exceeds cash ($25M); net debt is $41M.
  • The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
-$142M $1B $3B $0 2011 2013 2015 2017 2019 2021 2023 2025
RevenueNet income
Margins (gross / operating / net)
-9% 9% 27% 0% 2011 2013 2015 2017 2019 2021 2023 2025
GrossOperatingNet
Return on equity & assets (ROE / ROA)
-40% -13% 14% 0% 2011 2013 2015 2017 2019 2021 2023 2025
ROEROA
Free cash flow (CFO − capex)
-$74M $79M $232M $0 2011 2013 2015 2017 2019 2021 2023 2025
Free cash flow
Cash vs total debt
$0 $123M $246M 2011 2013 2015 2017 2019 2021 2023 2025
CashTotal debt
Cash flow: operating / investing / financing
-$318M -$29M $261M $0 2011 2013 2015 2017 2019 2021 2023 2025
OperatingInvestingFinancing

Key annual figures

FYRevenueNet incomeGross MOp MROEROAFCFTotal debtCash
2025 $1.6B -$48M 22.8% -2.9% -17.5% -7.5% -$74M $66M $25M
2024 $1.6B -$126M 25.9% -5.9% -39.9% -18.6% -$41M $8M $23M
2023 $1.9B -$14M 26.5% -1.3% -3.1% -1.6% $3M $0 $62M
2022 $2.3B $62M 26.7% 3.2% 12.5% 6.1% $90M $72M
2021 $2.2B $62M 25.8% 3.1% 12.5% 6.0% -$15M $0 $50M
2020 $1.8B -$142M 23.9% -9.5% -32.4% -14.5% $125M $0 $63M
2019 $2.4B $63M 26.2% 2.8% 10.1% 5.6% $65M $37M $38M
2018 $2.5B $66M 26.2% 3.0% 11.1% 5.9% $109M $80M $47M
2017 $2.5B $55M 25.3% 3.1% 10.0% 5.0% $78M $119M $29M
2017 $2.8B -$15M 24.7% -0.6% -2.9% -1.3% $232M $138M $35M
2015 $71M 13.3% 5.7% $54M $246M $30M
2014 $66M 14.0% 6.2% $31M $202M $20M
2013 $45M 11.4% 6.2% $73M $32M $122M
2012 $34M 10.1% 5.6% $34M $130M
2011 $31M 10.5% 5.5% $21M $109M

Valuation over time

How the market has priced TBI against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

Price / earnings (P/E)
0.0 4.3 8.7 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/E
Price / sales (P/S)
0.0 0.1 0.2 Mar '23 Sep '23 Mar '24 Sep '24 Mar '25 Sep '25 Mar '26 Sep '26
P/S

Frequently asked questions

Is TBI growing its revenue and profit?

Over the past 5 years, Trueblue, Inc.'s revenue has declined 2.6% per year. These are computed facts, not advice.

How much debt does TBI have?

As of FY2025, Trueblue, Inc. reported $66M of total debt against $25M of cash.

What is TBI's profit margin?

In FY2025, gross margin was 22.8%, operating margin -2.9%, and net margin -3.0%.

What is TBI's P/E ratio?

As of Sep '26, Trueblue, Inc. traded at a price-to-earnings ratio of about 7.5× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.