Bright Horizons Family Solutions Inc (BFAM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$1.2	$1.28	+6.7%	—	$779.2M	—
Q1 26	$0.8	$0.82	+2.5%	—	$712.2M	—
Q4 25	$1.12	$1.15	+2.7%	—	$733.7M	—
Q3 25	$1.32	$1.57	+18.9%	—	$802.8M	—
Q2 25	$1.01	$1.07	+5.9%	—	$731.6M	—
Q1 25	$0.64	$0.77	+20.3%	—	$665.5M	—
Q4 24	$0.91	$0.98	+7.7%	—	$674.1M	—
Q3 24	$1.06	$1.11	+4.7%	—	$719.1M	—
Q2 24	$0.73	$0.88	+20.5%	—	$670.1M	—
Q1 24	$0.46	$0.51	+10.9%	—	$622.7M	—
Q4 23	$0.74	$0.83	+12.2%	—	$615.6M	—
Q3 23	$0.81	$0.88	+8.6%	—	$645.8M	—
Q2 23	$0.6	$0.64	+6.7%	—	$603.2M	—
Q1 23	$0.39	$0.49	+25.6%	—	$553.6M	—
Q4 22	$0.76	$0.77	+1.3%	—	$529.5M	—
Q3 22	$0.64	$0.66	+3.1%	—	$540.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.39	—	—	$2.9B	—
FY24	—	$2.42	—	—	$2.7B	—
FY23	—	$1.28	—	—	$2.4B	—
FY22	—	$1.38	—	—	$2B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.6B	$1.7B	$1.9B	$2.1B	$1.5B	$1.8B	$2B	$2.4B	$2.7B	$2.9B
YoY change	+7.64%	+10.9%	+9.32%	+8.35%	-26.5%	+15.9%	+15.1%	+19.7%	+11.1%	+9.22%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.6B	1.7B	1.9B	2.1B	1.5B	1.8B	2B	2.4B	2.7B	2.9B
Cost of revenue	1.2B	1.3B	1.4B	1.5B	1.2B	1.3B	1.5B	1.9B	2.1B	2.2B
Gross profit	390.8M	430.6M	473.3M	522.9M	304.5M	415M	478.7M	531.7M	619.6M	697.2M
Gross margin	24.9%	24.7%	24.9%	25.4%	20.1%	23.6%	23.7%	22%	23.1%	23.8%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	164M	188.9M	201.6M	221.5M	219.6M	256.8M	289.2M	327.1M	354.6M	376.4M
Operating expenses	164M	188.9M	201.6M	221.5M	219.6M	256.8M	289.2M	327.1M	354.6M	376.4M
Operating income	197.2M	209.1M	239.1M	267.8M	53.3M	129M	157.6M	171.2M	246.6M	314.7M
Operating margin	12.6%	12%	12.6%	13%	3.52%	7.35%	7.8%	7.08%	9.18%	10.7%
Non-operating income, net	-11.1M	-3.7M	—	—	—	-2.6M	-5.9M	—	—	—
Pretax income	143.2M	161.4M	191.6M	222.7M	15.7M	90.3M	112.2M	119.6M	197.9M	269.9M
Income tax	48.4M	4.4M	33.6M	42.3M	-11.3M	19.9M	31.5M	45.4M	57.7M	76.8M
Net income	94.8M	157M	158M	180.4M	27M	70.5M	80.6M	74.2M	140.2M	193.1M
Net margin	6.04%	9.02%	8.3%	8.75%	1.78%	4.01%	3.99%	3.07%	5.22%	6.58%
EBITDA	282.5M	303.9M	340M	376.1M	165M	237.8M	263.7M	281.9M	344.5M	408.1M
EPS	1.59	2.65	2.72	3.1	0.45	1.16	1.38	1.28	2.42	3.39
Diluted EPS	1.55	2.59	2.66	3.05	0.45	1.15	1.37	1.28	2.4	3.36

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	645.8M	615.6M	622.7M	670.1M	719.1M	674.1M	665.5M	731.6M	802.8M	733.7M	712.2M	779.2M
Cost of revenue	488.1M	499.7M	487.6M	507.6M	537.6M	533.6M	509.8M	549M	585.8M	591.8M	548.7M	590.2M
Gross profit	157.6M	115.9M	135.1M	162.4M	181.5M	140.5M	155.7M	182.6M	217M	141.9M	163.5M	189M
Gross margin	24.4%	18.8%	21.7%	24.2%	25.2%	20.8%	23.4%	25%	27%	19.3%	23%	24.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	83.3M	79.1M	87.5M	87.5M	89.5M	90.1M	91.9M	94.8M	94.7M	95M	97.4M	108M
Operating expenses	83.3M	79.1M	87.5M	87.5M	89.5M	90.1M	91.9M	94.8M	94.7M	95M	97.4M	108M
Operating income	66.8M	28.2M	39.9M	69.1M	89.4M	48.2M	62.3M	86.1M	120.8M	45.5M	64.9M	79.8M
Operating margin	10.3%	4.59%	6.41%	10.3%	12.4%	7.15%	9.36%	11.8%	15.1%	6.2%	9.12%	10.2%
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	54.6M	14M	26.3M	57M	77.8M	36.8M	51.9M	75.5M	108.6M	33.9M	52.9M	65.8M
Income tax	14.6M	8.5M	9.3M	17.9M	22.9M	7.7M	13.9M	20.7M	30.1M	12.1M	18.8M	25.2M
Net income	40M	5.5M	17M	39.2M	54.9M	29.1M	38M	54.8M	78.6M	21.7M	34.1M	40.6M
Net margin	6.19%	0.9%	2.73%	5.85%	7.64%	4.32%	5.72%	7.49%	9.78%	2.96%	4.79%	5.22%
EBITDA	93.3M	56.2M	67.6M	94.5M	111.9M	70.5M	84.1M	108.8M	144.9M	70.2M	88.2M	104.4M
EPS	0.69	0.1	0.29	0.68	0.95	0.5	0.66	0.96	1.38	0.39	0.63	0.79
Diluted EPS	0.69	0.09	0.29	0.67	0.94	0.5	0.66	0.95	1.37	0.38	0.62	0.79

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	4.1B	5.5B	6.4B	8.7B	10.3B	7.6B	3.7B	5.4B	6.4B	5.8B	3.1B
Enterprise value	5.3B	6.7B	7.7B	10.5B	11.7B	9.1B	5.6B	7.2B	8.1B	7.4B	5.1B
Shares outstanding	59.2M	58.9M	57.8M	57.8M	59.5M	60.3M	58.3M	57.7M	57.9M	56.9M	56.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	43.8	35.3	40.8	48.2	381.5	107.8	45.7	73.3	45.8	29.9	20.2
P/S	2.64	3.18	3.39	4.22	6.8	4.33	1.82	2.25	2.39	1.97	1.02
P/B	6.03	7.39	8.27	8.95	8.02	6.44	3.41	4.49	5.02	4.31	3.33
EV/EBITDA	18.7	22	22.5	27.8	71.2	38.2	21.2	25.6	23.5	18.1	10.7
EV/Sales	3.36	3.85	4.03	5.07	7.75	5.18	2.77	2.98	3.01	2.52	1.68
Earnings yield	2.28%	2.84%	2.45%	2.08%	0.26%	0.93%	2.19%	1.36%	2.18%	3.34%	4.94%
FCF yield	3.32%	2.89%	3.14%	2.51%	1.21%	2.16%	3.2%	3.04%	3.74%	4.48%	7.75%
PEG	—	—	—	—	—	—	—	—	—	—	-1.14

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	24.9%	24.7%	24.9%	25.4%	20.1%	23.6%	23.7%	22%	23.1%	23.8%	24.3%
Operating margin	12.6%	12%	12.6%	13%	3.52%	7.35%	7.8%	7.08%	9.18%	10.7%	12.7%
Net margin	6.04%	9.02%	8.3%	8.75%	1.78%	4.01%	3.99%	3.07%	5.22%	6.58%	5.78%
ROE	13.8%	21%	20.3%	18.6%	2.1%	5.97%	7.46%	6.12%	11%	14.4%	14.9%
ROA	4.02%	6.36%	6.26%	5.42%	0.72%	1.94%	2.12%	1.91%	3.64%	4.96%	6.14%
ROIC	7.2%	10.6%	9.85%	7.94%	1.96%	3.76%	3.79%	3.57%	5.93%	7.65%	7.35%
Return on tangible assets	-10.2%	-18.6%	-19.3%	-172.3%	8.61%	40.4%	-54.5%	-67.6%	-199.7%	-132.6%	-75.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.4	0.42	0.4	0.47	1.18	0.87	0.44	0.56	0.64	0.52	0.48
Quick ratio	0.4	0.42	0.4	0.47	1.18	0.87	0.44	0.56	0.64	0.52	0.48
Debt / equity	1.66	1.58	1.59	1.86	1.44	1.51	1.82	1.53	1.4	1.31	2.18
Debt / assets	0.48	0.48	0.49	0.54	0.5	0.49	0.52	0.48	0.47	0.45	0.54
Net debt / EBITDA	3.99	3.82	3.59	4.69	8.74	6.31	7.25	6.27	4.85	3.93	4.64
Interest coverage	4.34	4.66	5.03	5.93	1.42	3.5	3.84	3.32	5.06	7.03	6.23
Effective tax rate	33.8%	2.75%	17.5%	19%	0%	22%	28.1%	38%	29.1%	28.5%	33%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	26.5	29.6	32.9	35.7	25.4	29.1	34.6	41.9	46.4	51.5	55.3
EPS (basic)	1.59	2.65	2.72	3.1	0.45	1.16	1.38	1.28	2.42	3.39	3.39
EPS (diluted)	1.55	2.59	2.66	3.05	0.45	1.15	1.37	1.28	2.4	3.36	3.15
Book value per share	11.6	12.7	13.5	16.8	21.6	19.6	18.5	21	22.1	23.5	19.2
FCF per share	2.33	2.72	3.5	3.78	2.1	2.72	2.02	2.86	4.15	4.54	4.56
Cash per share	0.25	0.39	0.27	0.78	6.82	4.7	0.92	1.62	2.11	2.73	3.39
Capex per share	1.25	1.42	1.57	1.81	1.22	0.96	1.03	1.57	1.64	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	4.72%	4.82%	4.76%	5.08%	4.81%	3.29%	2.97%	3.75%	3.55%	—	—
Capex / operating cash flow	39.1%	35.5%	30.8%	31.9%	38%	27.2%	38.8%	44.2%	36.3%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$645.8M	$615.6M	$622.7M	$670.1M	$719.1M	$674.1M	$665.5M	$731.6M	$802.8M	$733.7M	$712.2M	$779.2M
YoY change	+19.5%	+16.3%	+12.5%	+11.1%	+11.4%	+9.5%	+6.88%	+9.18%	+11.6%	+8.83%	+7.02%	+6.51%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	14.6M	23.2M	15.4M	44.9M	405.8M	283.7M	53.9M	93.6M	122M	155.5M
Receivables	97.2M	117.1M	131.2M	148.9M	176.6M	211M	217.2M	281.7M	283.3M	294M
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	154.4M	192.5M	193.9M	228.9M	624.2M	540.3M	347.7M	446.9M	496M	504M
Property, plant & equipment	355.3M	392.5M	409.7M	1.1B	1.1B	1.1B	1.2B	1.2B	1.1B	1B
Goodwill & intangibles	3.3B	3.3B	3.3B	3.4B	3.4B	3.5B	3.9B	4B	3.9B	4B
Total assets	2.4B	2.5B	2.5B	3.3B	3.7B	3.6B	3.8B	3.9B	3.9B	3.9B
Accounts payable	26.2M	31.7M	35.9M	31.6M	30M	8.5M	24.6M	24.8M	32.8M	27.9M
Short-term debt	86.8M	137.8M	128.9M	93.9M	97.9M	103.3M	194.1M	118.9M	130.6M	309.8M
Total current liabilities	387.6M	460.7M	483.8M	483.3M	530.8M	622.2M	786.3M	799.4M	779.4M	966.2M
Long-term debt	1.1B	1B	1.1B	1.7B	1.7B	1.7B	1.8B	1.7B	1.7B	1.5B
Total liabilities	1.7B	1.7B	1.7B	2.4B	2.4B	2.5B	2.7B	2.7B	2.6B	2.6B
Shareholders' equity	687.9M	749.1M	779.5M	971.3M	1.3B	1.2B	1.1B	1.2B	1.3B	1.3B
Total debt	1.1B	1.2B	1.2B	1.8B	1.8B	1.8B	2B	1.9B	1.8B	1.8B
Net debt	1.1B	1.2B	1.2B	1.8B	1.5B	1.5B	1.9B	1.8B	1.7B	1.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	40.9M	93.6M	63.7M	140.2M	109.9M	122M	112M	179.2M	116.6M	155.5M	133.4M	163.7M
Receivables	223.3M	281.7M	219.8M	185M	231.5M	283.3M	239.2M	197.9M	246.7M	294M	215.7M	208.8M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	369.2M	446.9M	348.2M	396M	404M	496M	448.5M	472.8M	454.7M	504M	429.7M	465.1M
Property, plant & equipment	1.4B	1.2B	1.3B	1.3B	1.4B	1.1B	1.3B	1.3B	1.3B	1B	1.2B	1.2B
Goodwill & intangibles	3.9B	4B	4B	4B	4.1B	3.9B	4B	4B	4B	4B	4B	4B
Total assets	3.8B	3.9B	3.8B	3.8B	3.9B	3.9B	3.8B	3.9B	3.9B	3.9B	3.8B	3.8B
Accounts payable	—	24.8M	—	—	—	32.8M	—	—	—	27.9M	—	—
Short-term debt	141.8M	118.9M	120.8M	124.4M	130.7M	130.6M	128.3M	207.8M	276.6M	309.8M	296.1M	325.7M
Total current liabilities	743.4M	799.4M	686.4M	712.5M	666.9M	779.4M	744.3M	839.1M	841.1M	966.2M	927.8M	971.7M
Long-term debt	1.7B	1.7B	1.7B	1.7B	1.7B	1.7B	1.6B	1.5B	1.5B	1.5B	1.6B	1.7B
Total liabilities	2.6B	2.7B	2.6B	2.6B	2.5B	2.6B	2.5B	2.5B	2.5B	2.6B	2.6B	2.8B
Shareholders' equity	1.2B	1.2B	1.2B	1.3B	1.4B	1.3B	1.3B	1.4B	1.4B	1.3B	1.1B	943.5M
Total debt	1.9B	1.9B	1.8B	1.8B	1.8B	1.8B	1.7B	1.8B	1.7B	1.8B	1.9B	2.1B
Net debt	1.8B	1.8B	1.8B	1.7B	1.7B	1.7B	1.6B	1.6B	1.6B	1.6B	1.7B	1.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	94.8M	157M	158M	180.4M	27M	70.5M	80.6M	74.2M	140.2M	193.1M
Depreciation & amortization	85.3M	94.8M	100.9M	108.3M	111.7M	108.8M	106.1M	110.7M	97.9M	93.4M
Stock-based compensation	11.6M	12.1M	13.8M	17.3M	21M	23.1M	28.1M	28.8M	33.6M	30.6M
Change in working capital	3.7M	3.6M	24.2M	33.9M	42.5M	5.2M	-54.1M	-9M	933K	-11.1M
Operating cash flow	189.3M	235.9M	294.7M	328.3M	191.9M	212.3M	154.6M	205.5M	262.7M	350.7M
Capital expenditure	-74.1M	-83.8M	-90.7M	-104.8M	-72.8M	-57.7M	-60M	-90.8M	-95.3M	—
Investing cash flow	-302.8M	-105.3M	-158.5M	-189.1M	-83.8M	-117.4M	-278M	-126.9M	-117.8M	-12.5M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	-112.8M	-162.2M	-126.7M	-31.6M	-32.7M	-213.8M	-182.6M	0	-84.6M	-225.4M
Financing cash flow	-311.8M	-738.6M	-845.9M	-582.2M	147M	-267.5M	-345.6M	-589.3M	-210.8M	-245.5M
Net change in cash	-425.4M	-608M	-709.8M	-443M	255M	-172.7M	-469M	-510.8M	-65.9M	92.8M
Free cash flow	137.9M	160.1M	202.3M	218.5M	124.8M	163.8M	117.9M	165.1M	240.2M	258.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	40M	5.5M	17M	39.2M	54.9M	29.1M	38M	54.8M	78.6M	21.7M	34.1M	40.6M
Depreciation & amortization	26.5M	27.9M	27.6M	25.5M	22.5M	22.3M	21.9M	22.7M	24M	24.7M	23.2M	24.6M
Stock-based compensation	7.8M	7.7M	7.4M	8.1M	9.1M	9M	8.2M	6.8M	7.5M	8.1M	7.4M	7M
Change in working capital	-98.3M	-2.6M	74.7M	-4.6M	-102.3M	23.9M	45.6M	4.1M	-127.4M	34.9M	71.6M	-43.5M
Operating cash flow	-20M	34.1M	130.5M	67.9M	-15.6M	81.2M	118.6M	134.2M	-17.6M	147.9M	107.7M	95.1M
Capital expenditure	-20.1M	-30.6M	-19.4M	-22.6M	-23.2M	-30M	-15.2M	—	—	—	—	—
Investing cash flow	-23.3M	-34.9M	-38M	-26.1M	-28.5M	-25.1M	-14.5M	-4.6M	-654K	-7.9M	609K	-932K
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	0	—	—	—	—	-19.6M	-40.8M	-44.3M	-120.7M	-224.8M	-246.7M
Financing cash flow	-8M	-179.5M	-103.1M	-27M	-7M	-5.6M	-81.7M	-48.2M	-92.7M	-533.5M	-206.6M	-1.6B
Net change in cash	-51.2M	-180.3M	-10.7M	14.8M	-51.1M	50.5M	22.4M	81.4M	-110.9M	-393.5M	-98.2M	-1.5B
Free cash flow	-39.2M	64.6M	96.9M	86.8M	-32.2M	88.6M	70.9M	115.4M	-42.4M	114.7M	87.6M	76.1M

Bright Horizons Family Solutions Inc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement