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what it is
BGSF supplies temporary workers to apartment owners and commercial buildings across 44 states and Washington, D.C.
how it gets paid
Last year Bgsf made $272M in revenue. Property management staffing was the main engine at $122M, or 45% of sales.
why it's growing
Revenue grew 323.1% last year. EDGAR shows revenue rose 165% vs. prior year to $71M.
what just happened
Latest quarter revenue hit $71M, but EPS fell to -$0.93, so more sales did not buy you profitability.
At a glance
C++ balance sheet — some cracks in the foundation
30/100 earnings predictability — expect surprises
7.3% return on capital — nothing to write home about
-$0.31 fy2024 eps est
$273M fy2024 rev est
xvary composite: 34/100 — weak
What they do
BGSF supplies temporary workers to apartment owners and commercial buildings across 44 states and Washington, D.C.
BGSF wins by being where the work is messy and urgent. Its property management staffing network reaches 44 states plus D.C., which matters when a building owner needs maintenance help now, not next month. Staffing scale → more local worker coverage → faster fills, so what: you get a business that can stay useful even when bigger rivals chase prettier contracts.
How they make money
$272M
annual revenue · their business grew +323.1% last year
Property management staffing
$122M
flat
Apartment turns staffing
$54M
up seasonally
Commercial building maintenance staffing
$41M
flat
Office talent staffing
$33M
dn
Other workforce solutions
$22M
flat
The products that matter
temporary and permanent placement
Property Management Staffing
~$188M revenue base
this is the center of gravity at roughly 69% of revenue. a recent period produced $35.0M of gross profit, or 43.2% of segment gross profit. if this side stays soft, the whole turnaround drags.
core engine
professional and technical placement
IT Staffing
~$84M revenue base
this is roughly 31% of revenue, and a recent division contributed about $2.4M in gross profit. it gives you a second leg, not a second company.
secondary engine
software sales partnership
PropTech Partnership
launched feb 2026
this is the new story management wants you to watch. it launched in February 2026, and there are no revenue numbers yet. that makes it an option on improvement, not evidence of improvement.
prove it
Key numbers
$272M
annual revenue
Scale is not the issue. EDGAR shows BGSF can produce $272M of sales. The issue is turning that into actual earnings.
2.8%
operating margin
Operating margin → profit left after running the business → so what: BGSF has almost no cushion if demand or pricing slips.
$0.31
FY2024 EPS
EPS → profit per share → so what: VL says shareholders got a loss in FY2024, not an earnings stream.
$0M
long-term debt
Long-term debt → money owed for years → so what: VL shows BGSF is basically debt-free, which keeps the balance sheet from becoming the next problem.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 4 — safer than 20% of stocks
- price stability 20 / 100
- long-term debt $0M (1% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for BGSF right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Latest quarter revenue hit $71M, but EPS fell to -$0.93, so more sales did not buy you profitability.
EDGAR shows revenue rose 165% vs. prior year to $71M, while EPS fell 79% vs. prior year to -$0.93. Gross margin was 36.0%, which sounds healthy until you remember VL still pegs FY2024 operating margin at just 2.8%.
$71M
revenue
$0.93
eps
36.0%
gross margin
the number that mattered
The number that mattered was -$0.93 EPS, because higher revenue is useless if each share still absorbs a loss.
source: company earnings report, 2026
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What could go wrong
the main risk is specific: property management staffing stays soft, the losses linger, and the new Yardi story still has nothing measurable behind it.
high
core staffing keeps shrinking
Annual revenue is estimated at $273M after a 13.0% decline, and roughly 69% of that base comes from property management staffing. If hiring stays soft there, most of the company keeps moving the wrong way.
this risk hits the biggest revenue pool first.
high
capital returns arrive before the recovery
BGSF lost $1.3M in Q4 2025, posted a -4.3% adjusted EBITDA margin, paid a $2 per share special dividend, and authorized a $5M buyback. those moves look disciplined only if operations stop bleeding.
continued losses would make those cash decisions harder to defend.
med
the Yardi partnership stays narrative-only
The PropTech partnership launched in February 2026, and there are no disclosed revenue numbers yet. That means you are being asked to price a strategy before management has shown its contribution.
if it adds no visible revenue, the pivot story loses credibility fast.
med
new co-ceos do not accelerate the fix
Keith Schroeder and Kelly Brown were named permanent co-CEOs in March 2026. stability helps, but co-CEO structures only earn the benefit of the doubt when the numbers improve quickly.
another strategic reset without better revenue or margin would just be another reset.
BGSF is trying to stop a 13.0% revenue decline, get adjusted EBITDA back above zero, and prove a brand-new software-adjacent angle at the same time. one turnaround is enough work. this is three.
source: institutional data · regulatory filings · risk analysis
Pay attention to
next earnings
does adjusted ebitda get back above zero
Q4 2025 adjusted EBITDA margin was -4.3%. Until that turns positive, the turnaround case is still theory with a ticker.
sales trend
were january and february the start of something real
Management said those two months ran above prior-year levels. You want reported revenue to confirm that, not just commentary on the call.
capital allocation
does the $5M buyback actually get used
authorization is easy. execution is the test. at a $6 share price, the program is meaningful for a company this small.
new segment risk
does the Yardi partnership produce disclosed revenue
The PropTech story launched in February 2026 with no revenue attached. You should expect management to start quantifying it if it matters.
Analyst rankings
earnings predictability
30 / 100
low predictability. in human-speak, analysts do not trust this business to deliver smooth, repeatable quarters yet.
risk rank
4
risk rank 4 means it is safer than only about 20% of stocks in the dataset. if you own this, you own something that trades like a fragile small cap, not a shelter.
source: institutional data
Institutional activity
institutional ownership data for BGSF is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$6
current price
n/a
target midpoint · n/a from current
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