BrightView Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data BrightView Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,185	2,354	2,405	2,346	2,554	2,775	2,816	2,767	2,673
Cost of revenue	1,578	1,728	1,766	1,751	1,903	2,100	2,137	2,122	2,051
Gross profit	607	626	638	595	651	675	679	646	622
Selling, general and administrative	468	481	452	527	508	535	533	497	458
Operating income	7.56	40	130	12.1	90.5	88.4	101	157	135
Interest expense	94.7	97.8	72.5	64.6	42.3	53.3	97.4	62.4	53.7
Other non-operating income	2.24	-23.5	0	1.3	2.7	-15.5	-6.7	2	0.4
Pre-tax income	-84.9	-81.3	57.2	-51.2	50.9	19.6	-3.1	96.5	81.3
Income tax	-32.5	-66.2	12.8	-9.6	4.6	5.6	4.6	30.1	25.3
Net income	-52.4	-15.1	44.4	-41.6	46.3	14	-7.7	66.4	56
EBITDA	86.8	115	210	92.6	175	187	206	265	277
EPS, basic	-0.67	-0.18	0.43	-0.40	0.44	0.14	-0.12	0.21	0.13
EPS, diluted	-0.67	-0.18	0.43	-0.40	0.44	0.14	-0.12	0.20	0.13
Shares, basic (weighted)	77.7	83.4	103	104	105	97.9	93.4	94.7	95.2
Shares, diluted (weighted)	77.7	83.4	103	104	106	98.2	93.4	96.1	96.5

Balance sheet

	FY2016	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	68	35.2	39.1	157	124	20.1	67	140	74.5
Receivables		317	334	319	379	398	442	415	393
Inventory		23.8	26.5	6.5
Other current assets		55.2	44.5	62.2	97	129	89.3	86.7	85.6
Total current assets		531	551	633	711	677	742	780	666
Property, plant and equipment		257	272	252	264	328	315	392	542
Lease right-of-use assets				58.8	69.5	81.6	86.1	81.3	72.1
Goodwill	1,667	1,767	1,810	1,859	1,951	2,009	2,021	2,016	2,016
Intangible assets		291	252	221	198	174	132	95.8	66.5
Other non-current assets		46.6	42.9	47	44.5	35.4	55.1	27	29.8
Total assets		2,892	2,929	3,071	3,238	3,306	3,352	3,392	3,392
Accounts payable		93.6	99.8	117	144	151	136	144	138
Accrued liabilities		118	136	197	221	194	180	238	212
Deferred revenue		72.5	49.1	57.1	48.2	59.3	68.2	83.8	87.6
Short-term debt		13	10.4	12.3	10.4	12	0	0	0
Total current liabilities		332	333	450	496	488	467	543	515
Long-term debt		1,141	1,134	1,128	1,131	1,331	888	803	790
Lease liabilities				47.5	54.2	61.3	65.1	62.6	53.5
Other non-current liabilities		31.2	26.4	32.8	38.7	38.6	34.6	44.3	47.1
Total liabilities		1,665	1,645	1,800	1,895	2,089	1,611	1,609	1,592
Total debt		1,154	1,145	1,140	1,141	1,343	888	803	790
Paid-in capital		1,426	1,442	1,468	1,489	1,510	1,531	1,518	1,504
Retained earnings		-190	-146	-188	-142	-128	-135	-68.9	-12.9
Treasury stock			-1	-2.5	-4.4	-168	-170	-174	-198
Other comprehensive income		-10.4	-11.7	-6.9	-1.5	2	17.1	-1.5	-0.9
Shareholders' equity	705	1,227	1,284	1,272	1,343	1,217	1,243	1,275	1,293
Total equity	705	1,227	1,284	1,272	1,343	1,217	1,243	1,275	1,293
Total liabilities and equity		2,892	2,929	3,071	3,238	3,306	3,352	3,392	3,392
Shares outstanding		104	105	105	105	93	93.6	94.8	94.8

Cash flow statement

	FY2016	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-52.4	-15.1	44.4	-41.6	46.3	14	-7.7	66.4	56
Depreciation and amortization	79.3	75.3	80.1	80.5	84.7	98.9	105	108	142
Stock-based compensation	2.77	28.8	15.7	23.6	19.7	18.9	22.1	20.2	18.2
Deferred income tax	-42.8	-63.4	-2.3	-27.1	28.9	-6.6	-21.5	1.7	21
Change in receivables	-23.7	25.2	-12.8	18.6	-41.9	-6.3	-52.6	19.9	12.2
Change in inventory	0.72	1.7	-2.4	0.7	0
Cash from operations	112	180	170	245	148	107	130	206	292
Capital expenditures	-75.6	-86.4	-89.9	-52.7	-61.2	-107	-71.3	-78.4	-254
Acquisitions		-104	-64	-90.3	-110	-93.1	-13.8	0	0
Cash from investing	-69.5	-179	-146	-109	-159	-194	-61.4	-5.6	-224
Debt issued		115	120	80	34.5	392	550	0.5	14.5
Debt repaid	-14.6	-109	-120	-80	-24.6	-374	-555	-87.3	-29.1
Stock issued	1.92	501		1.8	1.8	1.6	1.2	3	3.1
Share buybacks	-30.2	-2.9	-1.2	-1.5	-1.9	-164	-2.2	-3.1	-24.2
Cash from financing	-46.4	21.3	-20.3	-18.3	-23.1	-16.8	-21.6	-127	-134
Net change in cash	-4.03	22.4	3.9	118	-33.4	-104	46.9	73.4	-65.9
Free cash flow	36.3	94	79.8	192	87.2	-0.4	58.6	127	37.6
Interest paid	86.4	84.3	71.7	61.4	40.1	48.7	82.1	67.7	56.7
Income taxes paid	18.7	16.2	1.9	8.6	19.5	17.3	-9.8	34.4	6.3

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $10.41 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	21.2%	Gross profit / revenue.
Operating margin	3.5%	Operating income / revenue.
EBITDA margin	10.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.2%	Pre-tax income / revenue.
Net margin	0.7%	Net income / revenue.
FCF margin	-0.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	7.8%	Cash from operations / revenue.
Effective tax rate	37.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	1.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.6%	Net income / average total assets.
Return on invested capital (ROIC)	2.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	16.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	8.7%	Capital expenditures / revenue.
D&A / revenue	6.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-3.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-3.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-2.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	0.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-14.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	15.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	61.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	4.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	13.9%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	24.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-15.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	58.7%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-35.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-2.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	41.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	39.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	3.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-70.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	-27.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	1.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	0.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	0.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.4%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-0.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.28x	Current assets / current liabilities.
Quick ratio	0.87x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.03x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.71x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	25.9%	Total debt / total assets.
Liabilities / assets	48.9%	Total liabilities / total assets.
Net debt	$868.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	3.16x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.74x	Operating income / interest expense.
Working capital	$133.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	60.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$830.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.80x	Revenue / average total assets.
Fixed asset turnover	4.46x	Revenue / average property, plant and equipment.
Receivables turnover	6.83x	Revenue / average receivables.
Days sales outstanding	53 days	365 x average receivables / revenue.
Days payables	20 days	365 x average accounts payable / cost of revenue.
FCF conversion	-120.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	111.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.22	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$29.41	Revenue / diluted weighted shares.
FCF per share	-$0.26	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.28	Cash from operations / diluted weighted shares.
Book value per share	$13.31	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$8.95	Tangible book value / shares outstanding.
Cash per share	$0.16	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$964.0M	Share price x shares outstanding.
Enterprise value	$1.83B	Market cap + total debt - cash - short-term investments.
P/E	47.5x	Market cap / net income. Only when net income is positive.
P/S	0.35x	Market cap / revenue.
P/B	0.78x	Market cap / shareholders' equity. Only when equity is positive.
P/OCF	4.53x	Market cap / cash from operations, when positive.
EV/Sales	0.67x	Enterprise value / revenue.
EV/EBIT	19.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.67x	Enterprise value / EBITDA, when both are positive.
FCF yield	-2.5%	Free cash flow / market cap.
Earnings yield	2.1%	Net income / market cap (the inverse of P/E).
Shareholder yield	5.4%	(Dividends paid + share buybacks) / market cap.

What was BrightView Holdings, Inc.'s revenue in fiscal 2025?

BrightView Holdings, Inc. reported revenue of $2.67B for fiscal 2025, 3.4% lower than the year before.

Was BrightView Holdings, Inc. profitable in fiscal 2025?

Yes. Net income was $56.0M, a net margin of 2.1%.

How much free cash flow did BrightView Holdings, Inc. generate in fiscal 2025?

Cash from operations of $291.8M minus capital expenditures of $254.2M left free cash flow of $37.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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