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Barrett Business Services cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$21.6M in Q3 2026 · $3.0M over twelve months

Operating cash flow$26.9M
Capital spending−$5.4M
Free cash flow+$21.6M
Cash / net income1.6×
Cash conversion cycle84 days

Analysis

In Q3 2026, Barrett Business Services generated $26.9M of operating cash flow and spent $5.4M on capital projects, leaving free cash flow of $21.6M. That is $12.5M less than in Q3 2025 ($34.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $25.1M; the largest uses were buybacks ($61.7M), capital spending ($22.1M), dividends ($7.9M); besides operations, cash came from other investing ($57.9M), shares issued ($1.1M); the cash balance fell by $11.7M.

Operating cash flow was $26.9M against net income of $16.8M — 1.6× profit, cash ran ahead of reported earnings. The largest differences: receivables −$27.2M, income taxes payable −$11.5M, depreciation & amortization +$2.6M.

Its cash conversion cycle was 84 days (receivables 87 + inventory 0 − payables 2).

Free cash flow

Barrett Business Services: free cash flow by quarterBarrett Business Services: free cash flow by quarter$50.2MQ4 2024$697KQ1 2025−$58.2MQ2 2025$34.1MQ3 2025$70.6MQ4 2025−$27.8MQ1 2026−$61.4MQ2 2026$21.6MQ3 2026
Operating cash flow less capital spending.
Barrett Business Services: operating cash flow against capital spendingBarrett Business Services: operating cash flow against capital spendingOperating cash flowCapital spending$53.4M$3.2MQ4 2024$5.2M$4.5MQ1 2025−$53.8M$4.4MQ2 2025$38.4M$4.4MQ3 2025$76.1M$5.5MQ4 2025−$22.1M$5.7MQ1 2026−$55.9M$5.5MQ2 2026$26.9M$5.4MQ3 2026
Latest (Q3 2026): Operating cash flow $26.9M, Capital spending $5.4M.

Capital allocation, year by year

Barrett Business Services: where the cash came from (up) and went (down), by fiscal yearBarrett Business Services: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingBuybacksDividendsFY2021: Operating cash flow −$15.5MFY2021: Net borrowing −$221KFY2021: Shares issued $1.2MFY2021: Capital spending −$6.8MFY2021: Buybacks −$17.3MFY2021: Dividends −$9.1M$1.2MFY2021FY2022: Operating cash flow $27.8MFY2022: Net borrowing −$3.5MFY2022: Shares issued $711KFY2022: Capital spending −$16.0MFY2022: Buybacks −$47.2MFY2022: Dividends −$8.5M$28.5MFY2022FY2023: Operating cash flow $67.2MFY2023: Shares issued $702KFY2023: Asset sales $120KFY2023: Capital spending −$11.8MFY2023: Buybacks −$34.2MFY2023: Dividends −$8.1M$68.0MFY2023FY2024: Operating cash flow $10.1MFY2024: Shares issued $931KFY2024: Asset sales $8KFY2024: Capital spending −$14.2MFY2024: Buybacks −$29.1MFY2024: Dividends −$8.1M$11.0MFY2024FY2025: Operating cash flow $66.0MFY2025: Shares issued $3.2MFY2025: Capital spending −$18.8MFY2025: Buybacks −$42.0MFY2025: Dividends −$8.2M$69.2MFY2025
Over these 5 years operating cash flow totalled $156M; the largest uses were buybacks ($170M) and capital spending ($67.5M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$73.7M
Debtnone
Net cash$73.7M

Barrett Business Services funds itself: free cash flow was $3.0M over the last twelve months, with $73.7M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Barrett Business Services: sources (+) and uses (−) of cash, Q3 2026Barrett Business Services: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$26.9MCash drawn (+) / kept (−)−$23.5MOther investing$15.1MBuybacks−$9.1MCapital spending−$5.4MTaxes on employees’ shares−$2.7MDividends−$1.9MShares issued$527K
Barrett Business Services: sources (+) and uses (−) of cash, TTM to Q3 2026Barrett Business Services: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$61.7MOther investing$57.9MOperating cash flow$25.1MCapital spending−$22.1MCash drawn (+) / kept (−)$11.7MDividends−$7.9MTaxes on employees’ shares−$4.1MShares issued$1.1M

From profit to cash

Barrett Business Services: net income to operating cash flow, Q3 2026Barrett Business Services: net income to operating cash flow, Q3 2026Net income$16.8MDepreciation & amortization$2.6MStock-based pay$2.6MReceivables−$27.2MPayables−$515KAccrued liabilities−$387KPrepaid and other assets−$72KIncome taxes payable−$11.5MOther operating capital−$238KOperating cash flow$26.9M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202687—284
Q2 202685—283
Q1 202679—277
Q4 202579—276
Q3 202581—279
Q2 202578—275
Q1 202576—374
Q4 202474—272

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$26.9M−$5.4M−$9.1M−$1.9M$527K−$23.5M$21.6M
Q2 2026−$55.9M−$5.5M−$15.2M−$1.9M—$53.7M−$61.4M
Q1 2026−$22.1M−$5.7M−$20.3M−$2.0M$561K$41.8M−$27.8M
Q4 2025$76.1M−$5.5M−$17.1M−$2.0M—−$60.3M$70.6M
Q3 2025$38.4M−$4.4M−$7.5M−$2.1M$2.4M−$28.9M$34.1M
Q2 2025−$53.8M−$4.4M−$8.1M−$2.0M$123K$5.8M−$58.2M
Q1 2025$5.2M−$4.5M−$9.2M−$2.1M$693K$39.6M$697K
Q4 2024$53.4M−$3.2M−$7.0M−$2.1M—−$53.9M$50.2M

Barrett Business Services: income statement and cash flow

Barrett Business Services, Q3 2026: revenue $334M (+5% year over year), operating margin 6.4%. The chart follows the revenue to costs, profit and cash.

Barrett Business Services: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.