Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Sales comps and Analyst consensus.
ACCE opinionTrueBlue Inc. Common Stock (TBI)
Fair value
Not available
ACCE price target
$9.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Price used: $9.34 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus and Sales comps.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
52
out of 100
Analysts
50% buy
2 covering
P/E
0.0x
forward 11.3x
1-year return
+62.2%
Dividend yield
0.00%
TrueBlue Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
TrueBlue runs a network of blue-collar staffing brands, mostly light industrial and manufacturing labor placed through branches and a digital matching platform, with PeopleReady, PeopleManagement and Labor Ready as its main names. The moat is modest: its branch footprint and client relationships in industrial staffing are real, but gross margin of 21.5% and an operating margin of just 0.6% show how little of the revenue it keeps. Revenue growth of 11.8% is encouraging for a cyclical staffing firm, though a negative ROE of -20.2% means that growth is not yet reaching shareholders. With a forward P/E of 11.3 on a roughly $260M market cap, the stock is priced for a margin recovery that has not yet appeared in reported earnings. Worth a deeper look if you want exposure to an industrial hiring upturn, provided you are prepared to underwrite the margin path yourself.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Free cash flow deeply negative
FCF of -$73.7M against a $248M market cap is a serious cash burn. Operating margin is only +0.6% and net margin is -3.4%, so the business is not funding itself.
high
Earnings collapsing year over year
Earnings are down 63.4% year over year while revenue grew 11.8%. Growth is not reaching the bottom line, and ROE sits at -20.2%.
moderate
Long-run revenue shrinking
Five-year revenue CAGR is -2.6%, so the recent 11.8% gain is a rebound against a multi-year decline rather than sustained expansion.
AI research notes
AI-assisted·How I use AIWritten Oct 20, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 11.8% year over year, a sharp turn after a weak five-year record.
Earnings beat expectations badly, with earnings per share of 0.06 against a forecast of -0.10.
The stock trades at a forward P/E of 10.0x, and analysts' mean price target sits 19.6% above the current price.
Why it could disappoint
Free cash flow over the last twelve months was negative at -$74M, so the business is consuming cash.
Returns are negative, with return on equity at -20.2% and return on invested capital at -8.8%.
Net margin is -3.4% and the share count rose, so per-share value is not yet being built for holders.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 4, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where TBI's valuation models land
Price
$9.34
Model fair valueConfidence: low
about $38.51
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