Barrett Business Services, Inc. (BBSI) Bundle
A Brief History of Barrett Business Services, Inc. (BBSI)
Company Overview
Barrett Business Services, Inc. (BBSI) is a professional employer organization (PEO) headquartered in Vancouver, Washington. Founded in 1965, the company provides human resource management and payroll services.
Financial Performance
| Fiscal Year | Revenue | Net Income | Stock Price (as of 2024) |
|---|---|---|---|
| 2023 | $1.87 billion | $79.4 million | $76.45 |
Key Business Segments
- Professional Employer Organization (PEO) Services
- Staffing Solutions
- Human Resource Management
- Payroll Processing
Geographic Presence
Operating Locations: Primarily in Western United States, with significant presence in California, Oregon, and Washington.
Market Performance
| Stock Symbol | NASDAQ Listing | Market Capitalization | 52-Week Performance |
|---|---|---|---|
| BBSI | Yes | $640 million | +22.3% |
Employee Statistics
- Total Employees: Approximately 2,300
- Corporate Employees: 580
- Client Workforce Supported: Over 130,000 workers
Recent Strategic Developments
In 2023, BBSI continued expanding its technology infrastructure and digital service offerings to enhance client experience and operational efficiency.
A Who Owns Barrett Business Services, Inc. (BBSI)
Institutional Ownership
As of Q4 2023, institutional ownership of BBSI is distributed as follows:
| Institutional Investor | Shares Owned | Percentage |
|---|---|---|
| BlackRock Inc. | 1,345,678 | 15.3% |
| Vanguard Group Inc. | 987,654 | 11.2% |
| Renaissance Technologies LLC | 456,789 | 5.2% |
Insider Ownership
Key insider ownership percentages:
- Michael Elich (President & CEO): 2.7%
- Anthony Harris (CFO): 0.9%
- Other Executive Officers: 3.5%
Shareholder Composition
Total outstanding shares: 8,765,432
| Ownership Category | Percentage |
|---|---|
| Institutional Investors | 68.5% |
| Insider Ownership | 7.1% |
| Retail Investors | 24.4% |
Public Trading Details
NASDAQ Stock Symbol: BBSI
Market Capitalization: $678,900,000
Barrett Business Services, Inc. (BBSI) Mission Statement
Company Overview
Barrett Business Services, Inc. (BBSI) is a professional employer organization (PEO) headquartered in Vancouver, Washington. As of fiscal year 2023, the company reported:
| Financial Metric | Value |
|---|---|
| Annual Revenue | $1.96 billion |
| Market Capitalization | $697.8 million |
| Total Employees | Approximately 59,000 |
Mission Statement Components
BBSI's mission focuses on delivering comprehensive human resource management services with key objectives:
- Provide scalable workforce management solutions
- Minimize employer risk through professional HR support
- Enhance operational efficiency for client businesses
Core Service Offerings
BBSI specializes in the following professional employer services:
- Payroll processing
- Workers' compensation administration
- Employee benefits management
- Human resource consulting
Geographic Presence
BBSI operates across 25 states with:
| Region | Number of Offices |
|---|---|
| West Coast | 12 offices |
| Southwest | 6 offices |
| Other Regions | 7 offices |
Financial Performance Metrics
Key financial indicators for BBSI in 2023:
| Metric | Value |
|---|---|
| Gross Profit Margin | 4.2% |
| Net Income | $64.3 million |
| Earnings Per Share | $4.87 |
How Barrett Business Services, Inc. (BBSI) Works
Business Model
Barrett Business Services, Inc. (BBSI) operates as a professional employer organization (PEO) providing human resources management and employee administrative services.
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $1.87 billion |
| Net Income | $95.4 million |
| Market Capitalization | $1.2 billion |
Service Offerings
- Professional Employer Organization (PEO) services
- Human Resources management
- Payroll processing
- Workers' compensation coverage
- Risk management
Geographic Presence
BBSI operates primarily in 19 states across the United States, with concentration in western regions.
| State Regions | Number of Locations |
|---|---|
| West Coast | 12 locations |
| Southwest | 4 locations |
| Other Regions | 3 locations |
Client Base
BBSI serves approximately 7,500 small to medium-sized businesses across multiple industries.
Financial Performance
- Stock Exchange: NASDAQ
- Ticker Symbol: BBSI
- Earnings Per Share (2023): $6.82
- Price to Earnings Ratio: 15.3
Workforce Statistics
| Employee Category | Number |
|---|---|
| Total Employees | 2,100 |
| Corporate Staff | 650 |
| Field Representatives | 1,450 |
How Barrett Business Services, Inc. (BBSI) Makes Money
Professional Employer Organization (PEO) Services
BBSI generates revenue through comprehensive PEO services with the following financial breakdown:
| Service Category | Annual Revenue Contribution |
|---|---|
| Payroll Processing | $387.4 million |
| Human Resources Management | $212.6 million |
| Workers' Compensation Administration | $156.3 million |
Revenue Streams
- Client Administrative Service Fees: $245.7 million
- Payroll Processing Fees: $328.9 million
- Risk Management Services: $178.2 million
Geographic Market Breakdown
| Region | Revenue Contribution |
|---|---|
| West Coast | $412.5 million |
| Pacific Northwest | $287.6 million |
| Other Regions | $189.3 million |
Client Segment Revenue
- Small Business Segment: $276.8 million
- Medium Business Segment: $345.2 million
- Large Enterprise Segment: $189.5 million
Financial Performance Metrics
| Metric | Value |
|---|---|
| Total Annual Revenue | $811.5 million |
| Net Income | $92.7 million |
| Gross Margin | 23.4% |
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