TrueBlue, Inc. TBI

Competitive advantage analysis · industrials

Corporate Default
Overall moat score
38/100
Developing

Ranked against 22 peers in Staffing & Employment Services

About TrueBlue, Inc.

TrueBlue, Inc., together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleSolutions. The PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and energy industries. The PeopleManagement segment offers contingent, on-site industrial staffing, … Full TBI analysis →

Key strengths

  • Strong Liquidity Buffer Liquidity position is strong (score 0.70), providing operational cushion.

Key risks

  • ROIC Below WACC or Peers ROIC at 27.8th percentile suggests inefficient capital deployment.
  • Elevated Debt Risk Debt serviceability is weak (score 0.00), raising refinancing risk.

The dashed ring is the peer median. Defense scores are percentile ranks against peers, so 50 is roughly the typical company in this group.

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Pricing Power

Developing
41
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Signals, strengths and risks for Pricing Power

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Signals, strengths and risks for Cost Advantage

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Signals, strengths and risks for Customer Stickiness

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Signals, strengths and risks for Capital Efficiency

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Signals, strengths and risks for Resilience

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Signals, strengths and risks for Scale & Market Position

Where TBI ranks in Staffing & Employment Services

TrueBlue, Inc. ranks #14 of 23 scored companies in Staffing & Employment Services by moat score — the top 61%. The widest moat in the group is Barrett Business Services, Inc. (BBSI) at 82/100.

# Company Moat score Rating
10 Kelly Services, Inc. KELYB 54/100 Moderate
11 Kelly Services, Inc. KELYA 54/100 Moderate
12 Insperity, Inc. NSP 46/100 Developing
13 ZipRecruiter, Inc. ZIP 40/100 Developing
14 TrueBlue, Inc. TBI 38/100 Developing
15 BGSF, Inc. BGSF 36/100 Developing
16 GEE Group Inc. JOB 34/100 Developing
17 Galaxy Payroll Group Limited GLXG 24/100 Weak
18 Professional Diversity Network, IPDN 23/100 Weak

See every General Corporate company ranked by moat score →

How TBI scores on the Corporate Default defenses

Pricing Power

Score 41 · 20% of the moat score

Pricing power is the ability to raise prices without losing volume.

Cost Advantage

Score 46 · 15% of the moat score

A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.

Customer Stickiness

Score 46 · 15% of the moat score

Stickiness is what makes revenue repeat without being re-won every year.

Capital Efficiency

Score 30 · 18% of the moat score

Capital efficiency asks what the company earns on the money tied up in the business.

Resilience

Score 27 · 17% of the moat score

Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.

Scale & Market Position

Score 41 · 15% of the moat score

Scale matters only when it converts into economics.

How each Corporate Default defense is measured, in full →

Understanding TBI's moat

What is TrueBlue, Inc.'s moat score?

TrueBlue, Inc. (TBI) scores 38 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as developing. It ranks #14 of 23 scored companies in Staffing & Employment Services, the top 61%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 22 companies in Staffing & Employment Services. Its strongest defense is Customer Stickiness (46/100) and its weakest is Resilience (27/100).

How does TrueBlue, Inc. compare with other Staffing & Employment Services companies?

TrueBlue, Inc. ranks #14 of 23 scored companies in Staffing & Employment Services by moat score. The widest moat in Staffing & Employment Services is Barrett Business Services, Inc. (BBSI) at 82/100. The companies ranked closest are ZipRecruiter, Inc. (ZIP) at 40 just above it and BGSF, Inc. (BGSF) at 36 just below it.

How is the moat score calculated?

Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 22 companies in Staffing & Employment Services. The defenses are then weighted to produce the overall score out of 100.

Why is TrueBlue, Inc. scored with the Corporate Default template?

Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.

Which competitive defenses are measured for TrueBlue, Inc.?

The Corporate Default template measures 6 defenses, and TBI scores: Pricing Power (41), Cost Advantage (46), Customer Stickiness (46), Capital Efficiency (30), Resilience (27), Scale & Market Position (41). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.

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