BRIGHT HORIZONS FAMILY SOLUTIONS INC. BFAM
For 40 years, Bright Horizons has been a champion for working families — designing and delivering innovative education and care solutions. We are a leading provider of high-quality early education and child care, comprehensive back-up care solutions and educational advisory services. Our offerings support both working families and employers' workforce strategies by supporting their employees across life and career stages, and improving employee recruitment, engagement, productivity, retention, and career advancement.
We provide services primarily under multi-year contracts with employer-clients who offer early education and child care, back-up care, and educational advisory services as part of their employee benefits package. We are committed to providing the highest quality education and care across all of our offerings, underpinned by rigorous quality standards, research-informed practices and a focus on measurable outcomes for families and employers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.93B | $2.69B | $2.42B | $2.02B | $1.76B | $1.52B | $2.06B | $1.90B | $1.74B | $1.57B |
| Cost of revenue | $2.24B | $2.07B | $1.89B | $1.54B | $1.34B | $1.21B | $1.54B | $1.43B | $1.31B | $1.18B |
| Gross profit | $697.2M | $619.6M | $531.7M | $478.7M | $415.0M | $304.5M | $522.9M | $473.3M | $430.6M | $390.8M |
| SG&A | $376.4M | $354.6M | $327.1M | $289.2M | $256.8M | $219.6M | $221.5M | $201.6M | $188.9M | $164.0M |
| Operating income | $314.7M | $246.6M | $171.2M | $157.6M | $129.0M | $53.3M | $267.8M | $239.1M | $205.4M | $197.2M |
| Interest expense | $44.8M | $48.8M | $51.6M | $39.5M | $36.1M | $37.7M | $45.2M | $47.5M | $44.0M | $42.9M |
| Pre-tax income | $269.9M | $197.9M | $119.6M | $112.2M | $90.3M | $15.7M | $222.7M | $191.6M | $161.4M | $143.2M |
| Income tax | $76.8M | $57.7M | $45.4M | $31.5M | $19.9M | $11.3M | $42.3M | $33.6M | $4.4M | $48.4M |
| Net income | $193.1M | $140.2M | $74.2M | $80.6M | $70.5M | $27.0M | $180.4M | $158.0M | $157.0M | $94.8M |
| EPS, basic | 3.39 | 2.42 | 1.28 | 1.38 | 1.16 | 0.45 | 3.10 | 2.72 | 2.65 | 1.59 |
| EPS, diluted | 3.36 | 2.40 | 1.28 | 1.37 | 1.15 | 0.45 | 3.05 | 2.66 | 2.59 | 1.55 |
| Shares, diluted (wtd. avg.) | $57.4M | $58.5M | $57.9M | $58.5M | $60.9M | $60.3M | $58.9M | $59.0M | $60.3M | $60.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $140.1M | $110.3M | $71.6M | $51.9M | $265.3M | $388.5M | $31.2M | $38.5M | $36.6M | $16.1M |
| Short-term investments | $15.4M | $11.7M | $22.0M | $17.7M | $22.7M | $21.5M | $17.1M | $0 | — | — |
| Receivables | $294.0M | $283.3M | $281.7M | $217.2M | $211.0M | $176.6M | $148.9M | $131.2M | $117.1M | $97.2M |
| Total current assets | $504.0M | $496.0M | $446.9M | $347.7M | $540.3M | $624.2M | $228.9M | $193.9M | $192.5M | $154.4M |
| Property, plant and equipment | $574.2M | $572.9M | $579.3M | $571.5M | $598.1M | $628.8M | $636.2M | $597.1M | $575.2M | $529.4M |
| Goodwill | $1.82B | $1.76B | $1.79B | $1.73B | $1.48B | $1.43B | $1.41B | $1.35B | $1.31B | $1.27B |
| Other intangibles | $193.5M | $197.6M | $216.6M | $245.6M | $251.0M | $274.6M | $304.7M | $323.0M | $348.5M | $374.6M |
| Total assets | $3.89B | $3.85B | $3.90B | $3.80B | $3.64B | $3.73B | $3.33B | $2.52B | $2.47B | $2.36B |
| Accounts payable | $27.9M | $32.8M | $24.8M | $24.6M | $8.5M | $30.0M | $31.6M | $35.9M | $31.7M | $26.2M |
| Short-term debt | $0 | $28.5M | $18.5M | $16.0M | $16.0M | $10.8M | $10.8M | $10.8M | $10.8M | $10.8M |
| Total current liabilities | $966.2M | $779.4M | $799.4M | $786.3M | $622.2M | $530.8M | $483.3M | $483.8M | $460.7M | $387.6M |
| Long-term debt | $747.6M | $918.4M | $944.3M | $961.6M | $976.4M | $1.02B | $1.03B | $1.04B | $1.05B | $1.05B |
| Total liabilities | $2.55B | $2.57B | $2.68B | $2.72B | $2.46B | $2.44B | $2.36B | $1.74B | $1.72B | $1.67B |
| Retained earnings | $959.1M | $766.0M | $625.8M | $551.6M | $471.0M | $400.5M | $373.5M | $193.1M | $35.1M | -$121.8M |
| Total equity | $1.34B | $1.28B | $1.21B | $1.08B | $1.18B | $1.28B | $971.3M | $779.5M | $749.1M | $687.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $350.7M | $337.5M | $256.1M | $188.5M | $227.3M | $209.6M | $330.4M | $294.7M | $248.2M | $213.2M |
| Depreciation and amortisation | $93.4M | $97.9M | $110.7M | $106.1M | $108.8M | $111.7M | $108.3M | $100.9M | $94.8M | $85.3M |
| Stock-based compensation | $30.6M | $33.6M | $28.8M | $28.1M | $23.1M | $21.0M | $17.3M | $13.8M | $12.1M | $11.6M |
| Capital expenditure | $92.2M | $97.3M | $91.0M | $70.6M | $63.5M | $84.7M | $111.8M | $92.5M | $88.1M | $75.3M |
| Investing cash flow | -$103.8M | -$117.8M | -$126.9M | -$278.0M | -$117.4M | -$83.8M | -$189.1M | -$158.5M | -$105.3M | -$302.8M |
| Financing cash flow | -$233.4M | -$183.8M | -$91.6M | -$121.3M | -$230.0M | $229.0M | -$149.1M | -$134.2M | -$123.9M | $93.8M |
| Buybacks | $225.4M | $84.6M | $0 | $182.6M | $213.8M | $32.7M | $31.6M | $126.7M | $162.2M | $112.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-162582.
Others in SIC 8351
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| KLC | KinderCare Learning Companies, Inc. | $316.4M | — | 2.6% |