olivLaw · US equity research
BGSF, Inc. BGSF
Services-Help Supply Services · SIC 7363 · Vertical: Services-Help Supply Services (SIC 7363)
BGSF is a national provider of staffing solutions for the property management industry, placing field talent with companies that manage apartment communities and commercial buildings. After selling its Professional segment in September 2025, the company now focuses only on this segment, and quarterly revenue remains below earlier levels, making demand and cost trends central for investors.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, BGSF, Inc. (BGSF) stock was 3.93 USD (−6.21% on the day), with market capitalisation 41.8 m USD, dividend yield 0.00%, beta 0.53, 52-week range 3.27–6.58 USD. Latest reported quarter (Q3 2026): revenue of 25.1 m USD (−6.6% YoY), net income of 344.0 k USD, diluted EPS 0.03 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 33.8
- weak (30–45)
- Bollinger (20, 2)
- 3.84 – 4.76
- in the lower half of the band · %B 0.09 · band width 21.3%
- SMA 50 / 200
- 4.78 / 5.47
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.21 / -0.21
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −17.8% | −1.1% | −16.7 pp | — |
| 3 months | −30.3% | −0.5% | −29.9 pp | — |
| 6 months | −22.6% | +4.4% | −27.0 pp | — |
| Year to date | −15.1% | +12.3% | −27.4 pp | — |
| 1 year | +13.6% | +13.5% | +0.0 pp | +54.7% |
| 3 years | −58.6% | +76.4% | −135.0 pp | −36.8% |
| 5 years | −70.1% | +63.7% | −133.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 27 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 24.3 m | 20.9 m | 23.5 m | 26.9 m | 22.0 m | 20.9 m | 22.3 m | 25.1 m |
| Cost of revenue | 15.6 m | 13.3 m | 15.1 m | 17.2 m | 14.3 m | 13.5 m | 14.4 m | 16.0 m |
| Gross profit | 8.7 m | 7.6 m | 8.4 m | 9.7 m | 7.7 m | 7.4 m | 7.9 m | 9.1 m |
| SG&A | 10.5 m | 9.0 m | 12.6 m | 10.2 m | 9.3 m | 8.8 m | 8.9 m | 8.7 m |
| Operating income | -2.1 m | -1.8 m | -4.0 m | -937.0 k | -1.8 m | -1.6 m | -1.2 m | 206.0 k |
| Depreciation & amortisation | 327.0 k | 329.0 k | 259.0 k | 824.0 k | 139.0 k | 158.0 k | 180.0 k | 159.0 k |
| Pre-tax income | -3.5 m | -2.9 m | -5.9 m | -2.5 m | -1.7 m | -1.6 m | -952.0 k | 244.0 k |
| Net income | -981.0 k | -722.0 k | -3.7 m | -5.8 m | -1.2 m | -471.0 k | -834.0 k | 344.0 k |
| Diluted EPS | -0.10 | -0.06 | -0.34 | -0.52 | -0.10 | -0.04 | -0.08 | 0.03 |
| Operating cash flow | 3.2 m | 1.1 m | 2.2 m ≈ | -4.8 m ≈ | 1.7 m | 4.0 k | -164.0 k ≈ | -380.0 k ≈ |
| Capex | 154.0 k | 23.0 k | -10.0 k ≈ | 109.0 k ≈ | 16.0 k | — | — | -37.0 k ≈ |
| Dividends paid | 0 | 0 | 0 ≈ | 0 ≈ | 22.4 m | — | — | — |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 272.6 m | 286.9 m | 219.8 m | 207.1 m | 239.0 m | 125.1 m | 104.4 m | 93.3 m |
| Revenue YoY | +7.4% | +5.2% | −23.4% | −5.8% | +15.4% | unavailable | −16.5% | −10.6% |
| Net income | 5.8 m | 17.5 m | 13.2 m | 1.4 m | 14.1 m | -10.2 m | -3.3 m | -11.4 m |
| Net income YoY | −15.0% | +200.1% | −24.5% | −89.1% | +878.8% | unavailable | unavailable | unavailable |
| Diluted EPS | 0.65 | 1.79 | 1.28 | 0.14 | 1.35 | -0.95 | -0.31 | -1.04 |
| Diluted EPS YoY | −20.7% | +175.4% | −28.5% | −89.1% | +864.3% | unavailable | unavailable | unavailable |
| net % | 2.1% | 6.1% | 6.0% | 0.7% | 5.9% | -8.2% | -3.2% | -12.2% |
| Free cash flow | 16.9 m | 17.5 m | 15.9 m | 20.2 m | 3.5 m | 18.2 m | 23.2 m | 4.0 k |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 28 Dec 2025
- Cash
- 19.0 m USD
- Financial debt
- 0 USD
- Net debt
- -19.0 m USD
- Equity
- 48.1 m USD
- Total assets
- 57.8 m USD
- Debt / equity
- 0.00x
- Current ratio
- 4.12x
- ROE
- -17.5%
- ROA
- -11.0%
- FCF margin
- 0.0%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 219.8 m | 207.1 m | 239.0 m | 125.1 m | 104.4 m | 93.3 m | SEC (XBRL)· 30 Mar 2026verified |
| Cost of revenue | 149.9 m | 141.1 m | 158.1 m | 75.3 m | 66.0 m | 60.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Gross profit | 69.8 m | 66.0 m | 80.9 m | 49.8 m | 38.4 m | 33.3 m | SEC (XBRL)· 30 Mar 2026verified |
| SG&A | 50.2 m | 55.2 m | 65.1 m | 45.4 m | 42.9 m | 41.1 m | SEC (XBRL)· 30 Mar 2026verified |
| Operating income | 14.9 m | -1.2 m | 14.5 m | 3.1 m | -5.9 m | -8.9 m | SEC (XBRL)· 30 Mar 2026verified |
| Depreciation & amortisation | 4.7 m | 4.9 m | 3.7 m | 1.3 m | 1.3 m | 1.6 m | SEC (XBRL)· 30 Mar 2026verified |
| EBITDA | 19.6 m ≈ | 3.6 m ≈ | 18.2 m ≈ | 4.4 m ≈ | -4.5 m ≈ | -7.4 m ≈ | SEC (XBRL)· 30 Mar 2026derived |
| Pre-tax income | 12.8 m | -2.8 m | 13.1 m | -2.9 m | -10.8 m | -13.4 m | SEC (XBRL)· 30 Mar 2026verified |
| Income tax | 4.3 m | 513.1 k | -3.6 m | -2.9 m | -370.0 k | -1.3 m | SEC (XBRL)· 30 Mar 2026verified |
| Net income | 13.2 m | 1.4 m | 14.1 m | -10.2 m | -3.3 m | -11.4 m | SEC (XBRL)· 30 Mar 2026verified |
| Diluted EPS | 1.28 | 0.14 | 1.35 | -0.95 | -0.31 | -1.04 | SEC (XBRL)· 30 Mar 2026verified |
| Weighted average diluted shares | 10.4 m | 10.3 m | 10.4 m | 10.8 m | 10.9 m | 11.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Dividend per share | 1.20 | 0.50 | 0.44 | 0.60 | 0.15 | 2.00 | SEC (XBRL)· 30 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 0 | 0 | 112.1 k | 0 | 32.0 k | 19.0 m | SEC (XBRL)· 06 May 2026verified |
| Receivables | 39.4 m | 32.8 m | 48.1 m | 29.6 m | 17.1 m | 11.9 m | SEC (XBRL)· 30 Mar 2026verified |
| Current assets | 40.7 m | 43.6 m | 60.2 m | 66.9 m | 45.3 m | 38.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Property, plant & equipment, net | 3.5 m | 3.5 m | 4.3 m | 1.2 m | 608.0 k | 244.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Goodwill | 20.2 m | 27.1 m | 29.1 m | 59.6 m | 1.1 m | 1.1 m | SEC (XBRL)· 30 Mar 2026verified |
| Intangibles (excl. goodwill) | 33.8 m | 32.1 m | 33.6 m | 30.4 m | 4.4 m | 3.0 m | SEC (XBRL)· 30 Mar 2026verified |
| Total assets | 115.6 m | 130.3 m | 148.3 m | 178.5 m | 150.1 m | 57.8 m | SEC (XBRL)· 30 Mar 2026verified |
| Accounts payable | 479.4 k | 219.7 k | 401.2 k | 95.0 k | 80.0 k | 503.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Short-term debt | 375.0 k | 2.6 m | 3.6 m | 34.0 m | 3.8 m | 0 | SEC (XBRL)· 30 Mar 2026verified |
| Long-term debt | 7.1 m | 26.3 m | 23.3 m | 0 | 32.5 m | 0 | SEC (XBRL)· 30 Mar 2026verified |
| Current liabilities | 13.7 m | 18.3 m | 28.4 m | 85.1 m | 25.9 m | 9.3 m | SEC (XBRL)· 30 Mar 2026verified |
| Total liabilities | 47.1 m | 64.8 m | 71.7 m | 93.0 m | 67.8 m | 9.7 m | SEC (XBRL)· 30 Mar 2026verified |
| Equity | 68.5 m † | 65.5 m † | 76.6 m † | 85.5 m † | 82.3 m † | 48.1 m † | SEC (XBRL)· 30 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 18.0 m | 22.3 m | 6.7 m | 20.4 m | 24.4 m | 142.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Capex | 2.1 m | 2.1 m | 3.2 m | 2.2 m | 1.2 m | 138.0 k | SEC (XBRL)· 30 Mar 2026verified |
| Free cash flow | 15.9 m ≈ | 20.2 m ≈ | 3.5 m ≈ | 18.2 m ≈ | 23.2 m ≈ | 4.0 k ≈ | SEC (XBRL)· 30 Mar 2026derived |
| Investing cash flow | -9.7 m | -24.1 m | -7.0 m | -9.5 m | -1.6 m | 91.2 m | SEC (XBRL)· 30 Mar 2026verified |
| Financing cash flow | -8.2 m | 1.9 m | 473.0 k | -10.9 m | -22.4 m | -72.5 m | SEC (XBRL)· 30 Mar 2026verified |
| Dividends paid | 12.3 m | 5.2 m | 4.6 m | 6.5 m | 1.6 m | 22.4 m | SEC (XBRL)· 30 Mar 2026verified |
| Share repurchases | — | — | — | 0 | 0 | 1.5 m | SEC (XBRL)· 30 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 29.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 41.8 m USD
Key indicators
Coverage and freshness
Score by group
29% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 26.28 – 35.34 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)26.28 – 35.34 (Mid 30.15)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 29.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -2.3% | 44 (vs peers) | 21% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 5.1x | 100 (on a fixed band) | 14% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 2.6% | 33 (on a fixed band) | 29% |
| Shareholder yield (distributions) · Returns | 57.2% | 100 (on a fixed band) | 21% |
| Payout ratio (FCF) · Returns | 2,032.7% | 0 (on a fixed band) | 14% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial44/100 · 1/3 factors with a value
- Returns60/100 · 2/2 factors with a value
- Valuation· partial33/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
BGSF, INC (BGSF). Latest full fiscal year: 2025; data up to 2026-09-27.
Figures computed from the financial statements: revenue 93.3 m USD in 2025; YoY growth -10.6%; net margin -2.3%; ROE -4.4%.
The estimated value range is 26.28–35.34 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 30.15 USD, the price of 3.93 USD leaves a potential of 667.1% (value / price − 1) and a margin of safety of 87.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 29.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 5.1x
- Shareholder yield (distributions): 57.2%
- The price is below the estimated value range
What contradicts it
- Payout ratio (FCF): 2,032.7%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA.
Versus the vertical median
Services-Help Supply Services (SIC 7363) · same industry (4-digit SIC) · compared with 16 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| RHIRobert Half Inc. | 4.6 bn | 37.2 | 9.8% | 2.3% | −7.2% | +66% / −45% |
| MANManpowergroup Inc. | 2.2 bn | 18.5 | 5.8% | 0.6% | +0.6% | +63% / −37% |
| NSPInsperity, Inc. | 2.0 bn | 564.4 | 4.6% | 0.0% | +3.5% | +46% / −55% |
| AMNAmn Healthcare Services, Inc. | 1.8 bn | 17.8 | 15.6% | 3.1% | −8.5% | +187% / −30% |
| EFOREverforth, Inc. | 1.5 bn | 22.7 | 3.7% | 1.7% | −2.9% | −18% / −59% |
| KFRCKforce Inc | 1.0 bn | 24.4 | 30.5% | 3.0% | −5.4% | +98% / −16% |
| BBSIBarrett Business Services, Inc. | 802.2 m | 24.4 | 16.3% | 2.8% | +8.4% | −6% / +20% |
| TBITrueBlue, Inc. | 300.0 m | — | -15.9% | -2.6% | +3.1% | +101% / −29% |
| RCMTRcm Technologies, Inc. | 248.1 m | 15.1 | 39.5% | 5.1% | unavailable | +78% / +29% |
| HQIHireQuest, Inc. | 246.4 m | 30.9 | 12.1% | 27.1% | −11.4% | +104% / +20% |
| TTECTTEC Holdings, Inc. | 75.4 m | — | -108.2% | -10.2% | −3.2% | −54% / −92% |
| DLHCDlh Holdings Corp. | 53.5 m | — | -20.8% | -8.5% | −13.0% | −41% / −73% |
| BGSFBgsf, Inc | 41.8 m | — | -4.4% | -2.3% | −10.6% | +14% / −59% |
| STRRStar Equity Holdings, Inc. | 35.5 m | — | -18.2% | -4.3% | +22.9% | −5% / −39% |
| CIRCCircle8 Group Inc. | 26.7 m | — | — | -19.4% | −1.5% | −89% / −94% |
| YFORYY Group Holding Ltd. | 4.3 m | — | -94.1% | -11.8% | +29.4% | −100% / unavailable |
| KELYAKelly Services, Inc. | — | — | -24.3% | -6.7% | −1.9% | +96% / −19% |
1- and 3-year price returns: for BGSF from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
In brief
BGSF is a national provider of staffing solutions for the property management industry, placing field talent with companies that manage apartment communities and commercial buildings. After selling its Professional segment in September 2025, the company now focuses only on this segment, and quarterly revenue remains below earlier levels, making demand and cost trends central for investors 12.
SWOT
Strengths
- National footprint in a fragmented market, with a history of organic growth in the Property Management segment 1.
- Balance sheet without significant bank debt after repaying credit facilities from the Professional sale proceeds, with meaningful liquid assets 2.
- Diversified operating model by geography and skill set, which the company believes reduces downside revenue risk 1.
Weaknesses
Opportunities
- Growth of PropTech services and direct hire placements, which can generate revenue without direct personnel costs 23.
- Efficiency gains from AI tools in recruiting and onboarding, which could lower the cost per placement 13.
- Recovery of demand in periods of economic growth, when clients use more flexible personnel 1.
Risks
- Single-segment concentrationhigh
All continuing operations come from the Property Management segment, so any weakness there affects the whole company 1.
- No revolving credit linehigh
The company has no access to a revolving credit facility, so liquidity depends on cash generated from operations 1.
- Short-notice client terminationmedium
Clients can end agreements with little or no notice, which could quickly reduce revenue 1.
- Dependence on economic demandmedium
Demand for workforce solutions declines in slowdowns, and administrative costs may not fall as quickly as revenue 1.
- Goodwill and intangible impairmentlow
Goodwill and intangible assets could be written off if future operating results continue to weaken 1.
Investment thesis
What would need to be true (bull case)
- If demand returns with economic growth, revenue could rise quickly and lower administrative costs could improve profitability 12.
- Removing transitional costs after the INSPYR transition services agreement ended could support a recovery in operating margins 23.
- Expanding PropTech and AI tools could open new revenue streams and efficiency in recruiting 3.
What would break the thesis
- If cost pressures on property owners persist, billed hours could keep falling and operating losses could continue 12.
- Without a revolving credit line, and with large working capital needs, the company could have limited flexibility in a downturn 1.
- Intense price competition could compress gross margins more than management expects 12.
What to watch
- Billed hours and revenue in the third quarter, the seasonally strongest periodQ3 2026
- Level of selling and administrative expenses after the transition services agreement endedQ3 2026
- Any decision to restart the employee stock purchase plan or other capital allocation steps2027
- Results in the next annual report on Form 10-K, including the trend in lossesnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 05 Aug 2026; since then the company filed 8-K (04 Nov 2026 · results), 10-Q (04 Nov 2026).
The business
The company's current setup follows a 2024 strategic review and the sale of the Professional segment to INSPYR Solutions in September 2025, which is now reported as discontinued operations 1. The Light Industrial segment had been sold earlier, in March 2022 1. Operations are therefore concentrated in one segment, with administrative functions centralized at the home office 1.
In 2025 BGSF placed approximately 9,600 individuals with client partners and had about 2,243 people as of December 5, 2025, of whom 92% were field talent 1. Clients are small and medium-sized property management companies, and agreements are generally non-exclusive and can be terminated with little or no notice 1.
Segments
Market context
The property management workforce market is large and fragmented, with only three firms of national scale; the company estimates its core and near-term adjacent market at approximately 1.5 billion USD 1. Demand depends on overall economic conditions and on a trend toward more flexible workforces 1.
The market is cyclical and sensitive to cost pressures on property owners, which has reduced billed hours in recent periods 12. Demand could recover if economic growth returns and clients increase use of flexible personnel 1.
Trends
- Property owner cost pressureheadwind
Client demand fell because of cost pressures on property owners and management companies, reducing billed hours 12.
- AI tools in recruitingtailwind
The company is expanding its use of AI tools for screening, onboarding and matching, which could lower administrative costs if they prove effective 13.
- Lower administrative coststailwind
Selling and administrative expenses fell after the Professional sale and the end of the transition services agreement, which could support operating margins 23.
- Rising competitionheadwind
Price competition and competition in certain local markets have increased, and the company expects it to stay high, which could limit market share or profitability 12.
Competitive position
The market is highly competitive with low barriers to entry and roughly 27,000 staffing and recruiting companies, many with greater financial resources than BGSF 1. Key factors include pay rates, availability and duration of assignments, and speed of placement 1.
The company says it competes on service quality, technology and understanding of client requirements, but pricing pressure could reduce margins 13. Publicly listed competitors are not named explicitly in the analysed sources.
- National property management staffing firms
The sources mention only that the segment has three firms of national scale, without naming them.
- Regional and local staffing firms
Competitors with regional or local reach that can compete on price in particular markets.
- Full-service staffing companies
Firms offering full-service workforce solutions with larger marketing and financial resources than BGSF.
- Specialized recruiting firms
Specialized providers that can compete for talent and clients in particular niches.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report04 Nov 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report04 Nov 2026
- Proxy statement16 Sept 2026
- Current report05 Aug 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report05 Aug 2026
- Current report08 Jun 2026Regulation FD disclosure · Financial statements and exhibits
- Current report06 May 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Quarterly report06 May 2026
- Annual report30 Mar 2026
- Current report11 Mar 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-28 · SEC / BGSF, Inc. · 30 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-28 · SEC / BGSF, Inc. · 05 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / BGSF, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.