NYSE:TBI

Stock Analysis Report

Executive Summary

TrueBlue, Inc. provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico.

Snowflake

Fundamentals

Flawless balance sheet and good value.


Similar Companies

Share Price & News

How has TrueBlue's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: TBI has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.8%

TBI

2.4%

US Professional Services

0.7%

US Market


1 Year Return

-4.2%

TBI

21.0%

US Professional Services

13.7%

US Market

Return vs Industry: TBI underperformed the US Professional Services industry which returned 21% over the past year.

Return vs Market: TBI underperformed the US Market which returned 13.7% over the past year.


Shareholder returns

TBIIndustryMarket
7 Day-0.8%2.4%0.7%
30 Day5.2%-0.9%4.7%
90 Day18.8%-1.5%6.1%
1 Year-4.2%-4.2%22.2%21.0%16.2%13.7%
3 Year14.9%14.9%53.8%49.0%48.8%39.2%
5 Year0.5%0.5%77.6%68.4%62.5%44.5%

Price Volatility Vs. Market

How volatile is TrueBlue's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is TrueBlue undervalued compared to its fair value and its price relative to the market?

37.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: TBI ($23.15) is trading below our estimate of fair value ($37.02)

Significantly Below Fair Value: TBI is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: TBI is good value based on its PE Ratio (13.1x) compared to the Professional Services industry average (19.4x).

PE vs Market: TBI is good value based on its PE Ratio (13.1x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: TBI is poor value based on its PEG Ratio (14.4x)


Price to Book Ratio

PB vs Industry: TBI is good value based on its PB Ratio (1.4x) compared to the US Professional Services industry average (2.4x).


Next Steps

Future Growth

How is TrueBlue forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

0.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: TBI's forecast earnings growth (0.9% per year) is below the savings rate (2.7%).

Earnings vs Market: TBI's earnings (0.9% per year) are forecast to grow slower than the US market (14.4% per year).

High Growth Earnings: TBI's earnings are forecast to grow, but not significantly.

Revenue vs Market: TBI's revenue is expected to decline over the next 3 years (-0.7% per year).

High Growth Revenue: TBI's revenue is forecast to decline over the next 3 years (-0.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: TBI's Return on Equity is forecast to be low in 3 years time (10.6%).


Next Steps

Past Performance

How has TrueBlue performed over the past 5 years?

3.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TBI has high quality earnings.

Growing Profit Margin: TBI's current net profit margins (2.9%) are higher than last year (2.7%).


Past Earnings Growth Analysis

Earnings Trend: TBI's earnings have grown by 3.6% per year over the past 5 years.

Accelerating Growth: TBI's earnings growth over the past year (3%) is below its 5-year average (3.6% per year).

Earnings vs Industry: TBI earnings growth over the past year (3%) underperformed the Professional Services industry 23.8%.


Return on Equity

High ROE: TBI's Return on Equity (11.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is TrueBlue's financial position?


Financial Position Analysis

Short Term Liabilities: TBI's short term assets ($426.0M) exceeds its short term liabilities ($226.5M)

Long Term Liabilities: TBI's short term assets ($426.0M) exceeds its long term liabilities (283.9M)


Debt to Equity History and Analysis

Debt Level: TBI's debt to equity ratio (7.1%) is considered satisfactory.

Reducing Debt: TBI's debt to equity ratio has reduced from 39.5% to 7.1% over the past 5 years.

Debt Coverage: TBI's debt is well covered by operating cash flow (250.2%).

Interest Coverage: TBI earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: TBI has a low level of unsold assets or inventory.

Debt Coverage by Assets: TBI's debt is covered by short term assets (assets are 9.7x debt).


Next Steps

Dividend

What is TrueBlue's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.6%industryaverage1.1%forecastin3Years0%

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate TBI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate TBI's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if TBI's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if TBI's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of TBI's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of TrueBlue's salary, the management and board of directors tenure and is there insider trading?

3.4yrs

Average management tenure


CEO

A. Beharelle (49yo)

1.2yrs

Tenure

US$4,362,236

Compensation

Mr. A. Patrick Beharelle serves as the President at eDebt, Inc. Mr. Beharelle has been the Chief Executive Officer and Director of TrueBlue Inc. since September 1, 2018 and was its President and Chief Oper ...


CEO Compensation Analysis

Compensation vs Market: A.'s total compensation ($USD4.36M) is above average for companies of similar size in the US market ($USD2.62M).

Compensation vs Earnings: A.'s compensation has increased by more than 20% in the past year.


Management Age and Tenure

3.4yrs

Average Tenure

49yo

Average Age

Experienced Management: TBI's management team is considered experienced (3.4 years average tenure).


Board Age and Tenure

3.5yrs

Average Tenure

59yo

Average Age

Experienced Board: TBI's board of directors are considered experienced (3.5 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$590,86815 Aug 19
Jeffrey Sakaguchi
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares30,000
Max PriceUS$19.95
SellUS$136,57006 Aug 19
Taryn Owen
EntityIndividual
Role
Senior Key Executive
President of People Scout
Shares7,000
Max PriceUS$19.51
SellUS$966,43209 May 19
Derrek Gafford
EntityIndividual
Role
Chief Financial Officer
Executive VP & CFO
Shares40,000
Max PriceUS$24.69
SellUS$385,27807 May 19
A. Beharelle
EntityIndividual
Role
Chief Executive Officer
CEO & Director
Shares15,700
Max PriceUS$24.54
SellUS$246,90007 May 19
James Defebaugh
EntityIndividual
Role
Chief Legal Officer
Executive VP
Shares10,000
Max PriceUS$24.69
SellUS$590,47126 Feb 19
Derrek Gafford
EntityIndividual
Role
Chief Financial Officer
Executive VP & CFO
Shares25,000
Max PriceUS$23.75

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Jim Defebaugh (64yo)

    Executive VP

    • Tenure: 14.2yrs
    • Compensation: US$1.67m
  • Derrek Gafford (48yo)

    Executive VP & CFO

    • Tenure: 13.9yrs
    • Compensation: US$3.91m
  • A. Beharelle (49yo)

    CEO & Director

    • Tenure: 1.2yrs
    • Compensation: US$4.36m
  • Norman Frey (63yo)

    Chief Accounting Officer & Senior VP

    • Tenure: 0yrs
  • Taryn Owen (40yo)

    President of People Scout

    • Tenure: 5.4yrs
    • Compensation: US$2.01m
  • Randall Rothschiller

    Senior VP & Chief Human Resources Officer

    • Tenure: 3.4yrs
  • Maggie Lower

    Senior VP & Chief Marketing Officer

    • Tenure: 0yrs
  • Carl Schweihs

    President of People Management

    • Tenure: 0.4yrs
  • Jeff Dirks

    Senior VP

    • Tenure: 0.4yrs
  • Jennifer Grasz

    Vice President of Corporate Communications

    • Tenure: 0yrs

Board Members

  • Colleen Brown (60yo)

    Independent Director

    • Tenure: 5.4yrs
    • Compensation: US$213.76k
  • Steve Cooper (56yo)

    Chairman

    • Tenure: 1.2yrs
    • Compensation: US$7.21m
  • Bonnie Soodik (68yo)

    Independent Director

    • Tenure: 9.7yrs
    • Compensation: US$213.79k
  • Kristi Savacool (60yo)

    Independent Director

    • Tenure: 1.3yrs
    • Compensation: US$102.57k
  • Steve Robb (54yo)

    Independent Director

    • Tenure: 3.6yrs
    • Compensation: US$214.93k
  • Jeff Sakaguchi (58yo)

    Lead Independent Director

    • Tenure: 2.8yrs
    • Compensation: US$265.15k
  • A. Beharelle (49yo)

    CEO & Director

    • Tenure: 1.2yrs
    • Compensation: US$4.36m
  • Kim Jones (59yo)

    Independent Director

    • Tenure: 3.5yrs
    • Compensation: US$198.51k
  • Bill Goings (61yo)

    Independent Director

    • Tenure: 3.6yrs
    • Compensation: US$198.51k

Company Information

TrueBlue, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TrueBlue, Inc.
  • Ticker: TBI
  • Exchange: NYSE
  • Founded: 1985
  • Industry: Human Resource and Employment Services
  • Sector: Commercial Services
  • Market Cap: US$871.350m
  • Shares outstanding: 37.64m
  • Website: https://www.trueblue.com

Number of Employees


Location

  • TrueBlue, Inc.
  • 1015 A Street
  • Tacoma
  • Washington
  • 98402
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TBINYSE (New York Stock Exchange)YesCommon StockUSUSDOct 1990
LRYDB (Deutsche Boerse AG)YesCommon StockDEEUROct 1990

Biography

TrueBlue, Inc. provides contingent staffing, recruitment process outsourcing, and contingent staffing management services in the United States, Canada, and Puerto Rico. It operates through three segments:  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/18 00:12
End of Day Share Price2019/11/15 00:00
Earnings2019/09/29
Annual Earnings2018/12/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.