BFAMBRIGHT HORIZONS FAMILY SOLUTIONS INC.
Services-Child Day Care Services
- Revenue
- $2.9B
- 9.2% YoY
- Operating margin
- 10.7%
- 17% YoY
- EBITDA
- $408M
- 18% YoY
- Market cap
- $2.6B
- Employees
- 1,000
- $3M revenue each
- Net debt / EBITDA
- 2.0×
- $808M net debt
- AI in 10-K
- 3.0
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRNo$5M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo182% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowNo64% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes44% of assetsOver 40% of assets
- Shareholder dissentNo89% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$3M per employeeBottom quartile of its SIC industry
- Quiet on AINo3.0 per 10K words · 69th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo2.0× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$2.6B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$657K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.8B | $2.0B | $2.4B | $2.7B | $2.9B | 9.2% |
| Operating income | $129M | $158M | $171M | $247M | $315M | 28% |
| Net income | $70M | $81M | $74M | $140M | $193M | 38% |
| Operating cash flow | $227M | $188M | $256M | $337M | $351M | 3.9% |
| Capex | $63M | $71M | $91M | $97M | $92M | 5.3% |
| Stock-based comp | $23M | $28M | $29M | $34M | $31M | 8.9% |
| Buybacks | $214M | $183M | $0 | $85M | $225M | 166% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $657K · 4
- Net
- −$657K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $5M | $4M | 59 | 138 |
| FY2024 | $5M | $7M | 64 | 127 |
| FY2023 | $5M | $8M | 54 | 104 |
| FY2022 | $3M | −$3M | 36 | 83 |
| FY2021 | $4M | −$70K | 73 | 113 |