TrueBlue
TBI on NYSE. TrueBlue supplies temporary workers to businesses that need short-term labor. Market value $271m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-24.69 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
Each dollar kept in the business earns -12 cents a year. Above 10 is good.
Quality score: 28 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$8.97 a share, 182% above its 1-year low
Over the past year the price has ranged from $3.18 to $11.03.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $2.2bn | $2.3bn | $1.9bn | $1.6bn | $1.6bn |
| Operating margin | |||||
| Operating margin | 3.1% | 3.2% | -1.3% | -5.9% | -2.9% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | 0.00 | 0.02 | 0.24 |
| Shares outstanding | |||||
| Shares outstanding | 0.03bn | 0.03bn | 0.03bn | 0.03bn | 0.03bn |
Health checks
- Free cash flow positive2 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)2 of 9
- Profit backed by cash (accruals)Yes
- Debt0.24× equity
- Revenue growth, five yearsShrinking, 2.6% a year
- Buying back its own sharesYes, 7% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $443 million last quarter, up 12% on a year ago.
- A loss of $3 million, compared with a loss of $160,000 a year ago.
- It loses 3 cents on each $1 of sales, compared with 2 cents a year earlier.
- Over the past 12 months it spent $67 million more cash than it brought in, compared with $55 million a year earlier.
- 2% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $59 million more than cash, up from $32 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $382m |
| December 2024 | $386m |
| March 2025 | $370m |
| June 2025 | $396m |
| September 2025 | $431m |
| December 2025 | $418m |
| March 2026 | $399m |
| June 2026 | $443m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$8m |
| December 2024 | -$12m |
| March 2025 | -$14m |
| June 2025 | -$160,000 |
| September 2025 | -$2m |
| December 2025 | -$32m |
| March 2026 | -$20m |
| June 2026 | -$3m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 18 February 2026
- Next quarterly (estimated, 10-Q)
- 3 November 2026
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 114 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Pzena Investment ManagementRichard Pzena | $22m | <0.1% | Added |
| Royce & AssociatesChuck Royce | $19m | 0.2% | Added |
| Boston PartnersBoston Partners team | $17m | <0.1% | Cut |
| Hotchkis & WileyHotchkis & Wiley team | $8m | <0.1% | Cut |
Largest holders overall
- Pzena Investment Management$22mAdded
- Royce & Associates$19mAdded
- Boston Partners$17mCut
- BlackRock$16mAdded
- IES Holdings$9mNew
- Vanguard Capital Management$9m
- Hotchkis & Wiley$8mCut
- Charles Schwab Investment Management$8mCut
- Azarias Capital Management, L.P.$5mCut
- Geode Capital Management$5mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- Pzena Investment ManagementPassive investor10.5%Since 30 April 2026
- Royce & AssociatesPassive investor9.2%+2.1 ptsSince 30 June 2026
- Boston PartnersPassive investor8.1%−2.7 ptsSince 30 June 2026
- BlackRock, Inc.Passive investor7.1%Since 30 June 2025
- Dimensional Fund Advisors LPPassive investorSold down below 5%Since 31 March 2025
- CHARLES SCHWAB INVESTMENT MANAGEMENT INCPassive investorSold down below 5%Since 30 June 2026
- Azarias Capital Management, L.P.Passive investorSold down below 5%Since 31 March 2025
- Invesco Ltd.Passive investorSold down below 5%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- FMR LLCPassive investorSold down below 5%Since 30 June 2025
| Holder | Stake | Since | |
|---|---|---|---|
Pzena Investment Management Passive investor | 10.5% | 30 April 2026 | |
Royce & Associates Passive investor | 9.2%+2.1 pts | 30 June 2026 | |
Boston Partners Passive investor | 8.1%−2.7 pts | 30 June 2026 | |
BlackRock, Inc. Passive investor | 7.1% | 30 June 2025 | |
Dimensional Fund Advisors LP Passive investor | Sold down below 5% | 31 March 2025 | |
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Passive investor | Sold down below 5% | 30 June 2026 | |
Azarias Capital Management, L.P. Passive investor | Sold down below 5% | 31 March 2025 | |
Invesco Ltd. Passive investor | Sold down below 5% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
FMR LLC Passive investor | Sold down below 5% | 30 June 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 3 insiders bought $149,086 of shares on the open market. 1 sold $14,712.
- Lontoh SonitaDirectorSold
- Date
- 5 June 2026
- Shares
- 2,186
- Price
- $6.73
- Value
- $14,712
- Ferencz GarrettEVP, Chief Legal OfficerBought
- Date
- 25 February 2026
- Shares
- 7,000
- Price
- $3.61
- Value
- $25,270
- Owen Taryn RCEO and President, DirectorBought
- Date
- 24 February 2026
- Shares
- 20,400
- Price
- $3.79
- Value
- $77,316
- Schweihs CarlEVP and CFOBought
- Date
- 23 February 2026
- Shares
- 12,500
- Price
- $3.72
- Value
- $46,500
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 5 June 2026 | Lontoh Sonita Director | Sold | 2,186 | $6.73 | $14,712 |
| 25 February 2026 | Ferencz Garrett EVP, Chief Legal Officer | Bought | 7,000 | $3.61 | $25,270 |
| 24 February 2026 | Owen Taryn R CEO and President, Director | Bought | 20,400 | $3.79 | $77,316 |
| 23 February 2026 | Schweihs Carl EVP and CFO | Bought | 12,500 | $3.72 | $46,500 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have shrunk: 2.6% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.