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Kelly Services vs TrueBlue: revenue, profit, margins and growth compared

Kelly Services brought in $4.3B of revenue in fiscal 2025, TrueBlue $1.6B in fiscal 2025. Revenue changed by -1.9% at Kelly Services and +3.1% at TrueBlue on the year before, so TrueBlue grew faster. Kelly Services kept -6.0% of its revenue as net profit, TrueBlue -3.0%. Free cash flow was $114.1M at Kelly Services and -$73.7M at TrueBlue.

Side by side, latest fiscal year

KELYBTBI
Fiscal year endedFY2025 (December 28, 2025)FY2025 (December 28, 2025)
Revenue$4.3B$1.6B
Revenue growth-1.9%+3.1%
Net income-$254.1M-$48M
Net margin-6.0%-3.0%
Free cash flow$114.1M-$73.7M
Free cash flow margin2.7%-4.6%
Earnings per share (diluted)-$7.24-$1.61
Cash$33M$24.5M
Debt$101.9M$65.8M
Price to earningsn/an/a
Market value$770.7M$287.4M
Dividend yieldn/an/a
Rank by revenue in sector#226 of 778 · Consumer discretionary#390 of 778 · Consumer discretionary

Over the years

Revenue
KELYB FY2018: $5.5BKELYB FY2019: $5.4BKELYB FY2020: $4.5BKELYB FY2021: $4.9BKELYB FY2022: $5BKELYB FY2023: $4.8BKELYB FY2024: $4.3BKELYB FY2025: $4.3BTBI FY2018: $2.5BTBI FY2019: $2.4BTBI FY2020: $1.8BTBI FY2021: $2.2BTBI FY2022: $2.3BTBI FY2023: $1.9BTBI FY2024: $1.6BTBI FY2025: $1.6BFY18FY19FY20FY21FY22FY23FY24FY25
KELYB $4.3BTBI $1.6B
Net income
KELYB FY2018: $22.9MKELYB FY2019: $112.4MKELYB FY2020: -$72MKELYB FY2021: $156.1MKELYB FY2022: -$62.5MKELYB FY2023: $36.4MKELYB FY2024: -$600KKELYB FY2025: -$254.1MTBI FY2018: $65.8MTBI FY2019: $63.1MTBI FY2020: -$141.8MTBI FY2021: $61.6MTBI FY2022: $62.3MTBI FY2023: -$14.2MTBI FY2024: -$125.7MTBI FY2025: -$48MFY18FY19FY20FY21FY22FY23FY24FY25
KELYB -$254.1MTBI -$48M
Net margin
KELYB FY2018: 0.4%KELYB FY2019: 2.1%KELYB FY2020: -1.6%KELYB FY2021: 3.2%KELYB FY2022: -1.3%KELYB FY2023: 0.8%KELYB FY2024: -0.0%KELYB FY2025: -6.0%TBI FY2018: 2.6%TBI FY2019: 2.7%TBI FY2020: -7.7%TBI FY2021: 2.8%TBI FY2022: 2.8%TBI FY2023: -0.7%TBI FY2024: -8.0%TBI FY2025: -3.0%FY18FY19FY20FY21FY22FY23FY24FY25
KELYB -6.0%TBI -3.0%
Revenue growth
KELYB FY2019: -2.9%KELYB FY2020: -15.7%KELYB FY2021: +8.7%KELYB FY2022: +1.1%KELYB FY2023: -2.6%KELYB FY2024: -10.4%KELYB FY2025: -1.9%TBI FY2019: -5.2%TBI FY2020: -22.1%TBI FY2021: +17.7%TBI FY2022: +3.7%TBI FY2023: -15.4%TBI FY2024: -17.8%TBI FY2025: +3.1%FY19FY20FY21FY22FY23FY24FY25
KELYB -1.9%TBI +3.1%
Free cash flow
KELYB FY2018: $35.8MKELYB FY2019: $82.2MKELYB FY2020: $170.5MKELYB FY2021: $73.8MKELYB FY2022: -$88.3MKELYB FY2023: $61.4MKELYB FY2024: $15.8MKELYB FY2025: $114.1MTBI FY2018: $108.6MTBI FY2019: $65.4MTBI FY2020: $125.5MTBI FY2021: -$14.6MTBI FY2022: $89.9MTBI FY2023: $3.5MTBI FY2024: -$41.2MTBI FY2025: -$73.7MFY18FY19FY20FY21FY22FY23FY24FY25
KELYB $114.1MTBI -$73.7M

Fiscal years as each company reports them; the two may end in different months.

Questions about Kelly Services and TrueBlue

Which is bigger by revenue, Kelly Services or TrueBlue?

Kelly Services is bigger by revenue: $4.3B in fiscal 2025, against $1.6B for TrueBlue in fiscal 2025.

Which keeps more of its revenue as profit, Kelly Services or TrueBlue?

Kelly Services had a net margin of -6.0% in fiscal 2025; TrueBlue had -3.0% in fiscal 2025.

Which grew revenue faster, Kelly Services or TrueBlue?

In their latest fiscal years revenue changed by -1.9% at Kelly Services and +3.1% at TrueBlue.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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