TrueBlue, Inc. (TBI) intrinsic value & 10-year financials
TrueBlue, Inc. (TBI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 5.5% a year to $1.6B, with an average return on invested capital of -0.5%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $8.28
- Market cap
- $247.1M
- Revenue (FY2025)
- $1.6B
- Revenue growth (10-yr CAGR)
- -5.5%
- ROIC (10-yr avg)
- -0.5%
- Free cash flow (FY2025)
- -$73.7M
TBI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.6B | -$48.0M | -$1.61 | -$73.7M | -2.9% | -13.1% |
| FY2024 | $1.6B | -$125.7M | -$4.17 | -$41.2M | -5.9% | -23.4% |
| FY2023 | $1.9B | -$14.2M | -$0.45 | $3.5M | -1.3% | -3.6% |
| FY2022 | $2.3B | $62.3M | $1.86 | $89.9M | 3.2% | 12.6% |
| FY2021 | $2.2B | $61.6M | $1.74 | -$14.6M | 3.1% | 12.3% |
| FY2020 | $1.8B | -$141.8M | -$4.01 | $125.5M | -9.5% | -26.4% |
| FY2019 | $2.4B | $63.1M | $1.61 | $65.4M | 2.8% | 9.3% |
| FY2018 | $2.5B | $65.8M | $1.63 | $108.6M | 3.0% | 10.1% |
| FY2017 | $2.5B | $55.5M | $1.34 | $77.9M | 3.1% | 8.0% |
| FY2015 | $2.7B | $71.2M | $1.71 | $53.7M | 3.6% | 9.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
TrueBlue, Inc. is facing top-line stagnation, with revenue contracting over the decade.
TrueBlue, Inc. has historically struggled to out-earn its cost of capital, averaging just -0.4% ROIC.
Over the decade, TrueBlue, Inc. shows that management has aggressively returned capital to shareholders by retiring 28.3% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, TrueBlue, Inc. is modeled at -5.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-4.11 per share.