Trueblue (TBI) AI Stock Analysis

• Market Cap: $144.61M
• Dividend Yield: N/A
• Average Volume (3M): 221.09K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.98
• Revenue Growth: -5.37%
• EPS Growth: 75.32%
• Country: US
• Employees: 4,200
• Sector: Industrials
• Sector Strength: 72
• Industry: Staffing & Employment Services
• EPS (TTM): 0.03
• Shares Outstanding: 29,939,468
• 10 Day Avg. Volume: 274,439
• 30 Day Avg. Volume: 221,088
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.80
• Price to Sales (P/S): 0.16
• P/FCF Ratio: -6.15
• Enterprise Value/Market Cap: 1.98
• Enterprise Value/Revenue: 0.19
• Enterprise Value/Gross Profit: 0.75
• Enterprise Value/Ebitda: -48.27
• 1Y Price Target: $6.00
• Price Target Upside: 23.97% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: $5.00 ▲(3.31% Upside)

Trueblue's overall stock score is primarily impacted by its challenging financial performance and weak technical indicators. While recent earnings call insights and corporate events provide some optimism, the company's negative profitability and valuation concerns weigh heavily on the score.

Positive Factors

Revenue Growth

Strong revenue growth, particularly in high-demand sectors, indicates TrueBlue's effective market positioning and potential for sustained expansion.

Digital Transformation

Digital transformation initiatives improve operational efficiency and customer engagement, positioning TrueBlue for long-term competitive advantage.

Board Strengthening

New board appointments bring expertise and strategic oversight, supporting TrueBlue's growth and transformation efforts.

Negative Factors

Declining Gross Margins

Decreasing gross margins suggest cost pressures and may impact profitability unless addressed through strategic cost management.

Cash Flow Challenges

Negative cash flows indicate liquidity issues, potentially limiting TrueBlue's ability to invest in growth and manage financial obligations.

Net Loss

Ongoing net losses highlight operational inefficiencies and the need for strategic improvements to achieve profitability.

Trueblue Business Overview & Revenue Model

Company Description

TrueBlue, Inc. (TBI) is a leading provider of specialized workforce solutions, operating primarily in the staffing services sector. The company focuses on connecting businesses with skilled workers across various industries, including light industrial, clerical, and IT sectors. TrueBlue's core products and services include staffing, workforce management, and recruitment solutions through its brands such as Labor Finders, PeopleReady, and PeopleScout.

How the Company Makes Money

TrueBlue generates revenue primarily through its staffing and workforce solutions services. The company earns money by charging clients a fee for placing temporary or permanent workers in various roles across different industries. Key revenue streams include the markup on hourly wages paid to temporary workers, direct hire fees for permanent placements, and service fees for managed workforce solutions. Additionally, TrueBlue has formed strategic partnerships with various businesses and organizations to enhance its service offerings and extend its market reach, contributing to its overall earnings.

Trueblue Financial Statement Overview

Summary

Trueblue's financial performance is challenged by declining revenue and profitability, negative net profit margins, and cash flow issues. While leverage is manageable, the negative return on equity and cash flow management problems highlight the need for strategic improvements.

Income Statement

Trueblue's income statement shows a challenging financial position with declining revenue and profitability. The TTM data reveals a slight revenue growth of 0.4%, but the company is struggling with negative net profit and EBIT margins, indicating operational inefficiencies. The gross profit margin has decreased slightly from previous years, reflecting pressure on cost management. Overall, the income statement suggests a need for strategic improvements to enhance profitability.

Balance Sheet

The balance sheet presents a moderate financial position with a manageable debt-to-equity ratio of 0.36 in the TTM period, indicating a relatively low level of leverage. However, the return on equity is negative, reflecting the company's inability to generate positive returns for shareholders. The equity ratio remains stable, suggesting a balanced asset structure. While the debt levels are under control, the negative ROE highlights the need for improved profitability.

Cash Flow

Cash flow analysis indicates significant challenges, with negative operating and free cash flows in the TTM period. The free cash flow growth rate is positive, but the operating cash flow to net income ratio is negative, highlighting cash flow management issues. The free cash flow to net income ratio is above 1, suggesting that despite losses, the company is generating some free cash flow relative to net income. Overall, cash flow management needs improvement to support financial stability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.53B	1.57B	1.91B	2.25B	2.17B	1.85B
Gross Profit	382.49M	406.39M	506.06M	602.14M	560.32M	440.64M
EBITDA	-5.95M	-3.54M	11.46M	115.61M	96.00M	32.34M
Net Income	-33.85M	-125.75M	-14.17M	62.27M	61.63M	-141.84M
Balance Sheet
Total Assets	672.78M	675.38M	899.38M	1.02B	1.03B	980.58M
Cash, Cash Equivalents and Short-Term Investments	21.90M	22.54M	61.88M	72.05M	49.90M	62.51M
Total Debt	110.10M	66.53M	61.34M	62.56M	67.02M	68.73M
Total Liabilities	367.59M	360.02M	441.51M	523.09M	540.16M	543.39M
Stockholders Equity	305.19M	315.36M	457.87M	496.31M	493.07M	437.19M
Cash Flow
Free Cash Flow	-54.71M	-41.21M	3.48M	89.88M	-14.57M	125.47M
Operating Cash Flow	-34.91M	-17.06M	34.75M	120.50M	20.44M	152.53M
Investing Cash Flow	-16.93M	-2.45M	-32.32M	-20.95M	-16.22M	-34.41M
Financing Cash Flow	48.55M	-17.09M	-37.58M	-64.69M	-19.13M	-92.50M

Trueblue Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.84
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TBI, the sentiment is Negative. The current price of 4.84 is below the 20-day moving average (MA) of 4.88, below the 50-day MA of 5.13, and below the 200-day MA of 5.66, indicating a bearish trend. The MACD of -0.07 indicates Negative momentum. The RSI at 45.55 is Neutral, neither overbought nor oversold. The STOCH value of 19.23 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TBI.

Trueblue Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HQI	65 Neutral	$108.99M	15.56	11.08%	3.10%	-12.65%	368.36%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
MHH	56 Neutral	$85.98M	―	-0.08%	―	1.24%	97.14%
DHX	50 Neutral	$79.22M	-5.45	-12.89%	―	-9.13%	-1032.39%
BGSF	49 Neutral	$48.50M	-5.84	-14.43%	46.19%	-36.79%	-507.05%
TBI	46 Neutral	$144.61M	-5.10	-8.91%	―	-5.37%	75.32%
KELYA	46 Neutral	$320.48M	-2.04	-13.11%	3.37%	0.46%	-477.90%

Trueblue Corporate Events

TrueBlue Announces New Board Appointments

On December 2, 2025, TrueBlue, Inc. announced the appointment of William Greenblatt and William Seward to its board of directors, effective January 5, 2026. This decision follows an extensive search process and reflects TrueBlue’s commitment to strengthening its board with experienced leaders to support its strategic growth and transformation. Mr. Greenblatt, a pioneer in background screening, and Mr. Seward, a seasoned executive in logistics and supply chain, bring valuable expertise to the board. The appointments are part of TrueBlue’s ongoing efforts to evolve its board composition, enhance operational oversight, and align with shareholder feedback, with two current directors expected to step down by the 2026 Annual Meeting of Shareholders.

TrueBlue Reports Strong Q3 2025 Financial Results

TrueBlue reported its third-quarter 2025 financial results, highlighting a 13% increase in revenue to $431 million compared to the same period last year. The company reduced its net loss to $2 million from $8 million in the prior year, with strategic growth in skilled businesses and digital transformation efforts contributing to improved performance. TrueBlue’s focus on high-growth markets and optimizing its sales function aims to drive sustainable, profitable growth and enhance shareholder value.