A Business at a Glance
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BrightView Holdings, Inc. is a holding company that conducts substantially all of its activity through its direct, wholly-owned operating subsidiary, BrightView Landscapes, LLC (“BrightView Landscapes”) and its consolidated subsidiaries. The holding company and BrightView Landscapes are collectively referred to in this Form 10-K (the “Annual Report”) as “we,” “us,” “our,” “ourselves,” “Company,” or “BrightView.” Our Company We are the largest provider of commercial landscaping services in the United States, with revenues approximately 4 times those of our next largest commercial landscaping competitor. We provide commercial landscaping services, ranging from landscape maintenance and enhancements to tree care and landscape development. We operate through a differentiated and integrated national service model which systematically delivers services at the local level by combining our network of over 265 branches with a qualified service partner network.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.7B | 2.7B | 2.8B | 2.8B | 2.8B | 2.6B |
| Net Income | 51M | 56M | 66M | -7.7M | 14M | 46M |
| EPS | $0.07 | $0.13 | $0.20 | $-0.12 | $0.14 | $0.44 |
| Free Cash Flow | 17M | 38M | 127M | 59M | -400K | 87M |
| ROIC | 4.4% | 4.9% | 5.7% | 4.8% | 2.4% | 3.5% |
| Gross Margin | 22.7% | 23.3% | 23.3% | 24.1% | 24.3% | 25.5% |
| Debt/Equity | 0.64 | 0.67 | 0.70 | 0.79 | 1.19 | 0.91 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 128M | 135M | 157M | 101M | 88M | 91M |
| Operating Margin | 4.8% | 5.0% | 5.7% | 3.6% | 3.2% | 3.5% |
| ROE | 4.1% | 4.4% | 5.2% | -0.6% | 1.2% | 3.4% |
| Shares Outstanding | 94M | 95M | 95M | 64M | 100M | 105M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 2.4B | 2.4B | 2.3B | 2.6B | 2.8B | 2.8B | 2.8B | 2.7B | 2.7B |
| Gross Margin | 26.6% | 26.5% | 25.4% | 25.5% | 24.3% | 24.1% | 23.3% | 23.3% | 22.7% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 481M | 452M | 527M | 508M | 535M | 533M | 497M | 458M | 454M |
| EBIT | 40M | 130M | 12M | 91M | 88M | 101M | 157M | 135M | 128M |
| Op. Margin | 1.7% | 5.4% | 0.5% | 3.5% | 3.2% | 3.6% | 5.7% | 5.0% | 4.8% |
| Net Income | -15M | 44M | -42M | 46M | 14M | -7.7M | 66M | 56M | 51M |
| Net Margin | -0.6% | 1.8% | -1.8% | 1.8% | 0.5% | -0.3% | 2.4% | 2.1% | 1.9% |
| Non-Recurring | 0 | 0 | 16M | 0 | 1.6M | 8.9M | 60M | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | 1.7% | 4.3% | 0.6% | 3.5% | 2.4% | 4.8% | 5.7% | 4.9% | 4.4% |
| ROE | -1.2% | 3.5% | -3.3% | 3.4% | 1.2% | -0.6% | 5.2% | 4.4% | 4.1% |
| ROA | -0.5% | 1.5% | -1.4% | 1.4% | 0.4% | -0.2% | 2.0% | 1.7% | 1.5% |
| Cash Flow | |||||||||
| Op. Cash Flow | 180M | 170M | 245M | 148M | 107M | 130M | 206M | 292M | 267M |
| Free Cash Flow | 94M | 80M | 192M | 87M | -400K | 59M | 127M | 38M | 17M |
| Owner Earnings | -29M | 18M | 85M | -8.3M | -62M | -42M | 41M | 102M | 95M |
| CapEx | 86M | 90M | 53M | 61M | 107M | 71M | 78M | 254M | 250M |
| Maint. CapEx | 180M | 136M | 136M | 137M | 150M | 150M | 144M | 172M | 155M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 83M | 96M |
| D&A | 180M | 136M | 136M | 137M | 150M | 150M | 144M | 172M | 155M |
| CapEx/OCF | 47.9% | 53.0% | 21.5% | 41.2% | 100.4% | 54.9% | 38.1% | 87.1% | 93.6% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 2.9M | 1.2M | 1.5M | 1.9M | 164M | 2.2M | 3.1M | 24M | 38M |
| Buyback Yield | 0.2% | 0.1% | 0.1% | 0.1% | 20.4% | 0.4% | 0.2% | 1.9% | 3.4% |
| Stock-Based Comp | 29M | 16M | 24M | 20M | 19M | 22M | 20M | 18M | 18M |
| Debt Repayment | 1.7B | 120M | 80M | 25M | 374M | 555M | 87M | 29M | 21M |
| Balance Sheet | |||||||||
| Net Debt | 1.1B | 1.1B | 904M | 980M | 1.4B | 847M | 609M | 719M | 727M |
| Cash & Equiv. | 35M | 39M | 157M | 124M | 20M | 67M | 140M | 75M | 74M |
| Long-Term Debt | 1.1B | 1.1B | 1.1B | 1.1B | 1.3B | 888M | 803M | 790M | 801M |
| Debt/Equity | 0.95 | 0.90 | 0.96 | 0.91 | 1.19 | 0.79 | 0.70 | 0.67 | 0.64 |
| Interest Coverage | 0.4 | 1.8 | 0.2 | 2.1 | 1.7 | 1.0 | 2.5 | 2.5 | 2.5 |
| Equity | 1.2B | 1.3B | 1.3B | 1.3B | 1.2B | 1.2B | 1.3B | 1.3B | 1.3B |
| Total Assets | 2.9B | 2.9B | 3.1B | 3.2B | 3.3B | 3.4B | 3.4B | 3.4B | 3.3B |
| Total Liabilities | 1.7B | 1.6B | 1.8B | 1.9B | 2.1B | 1.6B | 1.6B | 1.6B | 1.6B |
| Intangibles | 291M | 252M | 221M | 198M | 174M | 132M | 96M | 67M | 60M |
| Retained Earnings | -190M | -146M | -188M | -142M | -128M | -135M | -69M | -13M | -28M |
| Working Capital | 200M | 219M | 183M | 215M | 189M | 275M | 237M | 152M | 123M |
| Current Assets | 531M | 551M | 633M | 711M | 677M | 742M | 780M | 666M | 599M |
| Current Liabilities | 332M | 333M | 450M | 496M | 488M | 467M | 543M | 515M | 476M |
| Per Share Data | |||||||||
| EPS | -0.18 | 0.43 | -0.40 | 0.44 | 0.14 | -0.12 | 0.20 | 0.13 | 0.07 |
| Owner EPS | -0.34 | 0.17 | 0.82 | -0.08 | -0.62 | -0.65 | 0.44 | 1.08 | 1.01 |
| Book Value | 14.63 | 12.43 | 12.23 | 12.76 | 12.17 | 19.38 | 13.47 | 13.65 | 13.32 |
| Cash Flow/Share | 2.15 | 1.64 | 2.36 | 1.41 | 1.07 | 2.02 | 2.17 | 3.08 | 2.19 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 83.9M | 103.3M | 104.0M | 105.2M | 100.0M | 64.2M | 94.7M | 94.7M | 94.2M |
| Valuation | |||||||||
| P/E Ratio | N/A | 39.7 | N/A | 33.9 | 57.2 | N/A | 77.2 | 102.2 | 169.3 |
| P/FCF | 14.3 | 22.1 | 6.5 | 18.0 | N/A | 8.5 | 11.5 | 33.4 | 64.9 |
| EV/EBIT | 61.6 | 22.1 | 185.0 | 28.6 | 24.0 | 13.1 | 13.5 | 14.7 | 14.4 |
| Price/Book | 1.1 | 1.4 | 1.0 | 1.2 | 0.7 | 0.4 | 1.1 | 1.0 | 0.9 |
| Price/Sales | 0.7 | 0.7 | 0.6 | 0.6 | 0.5 | 0.2 | 0.4 | 0.5 | 0.4 |
| FCF Yield | 7.0% | 4.5% | 15.3% | 5.6% | -0.0% | 11.7% | 8.7% | 3.0% | 1.5% |
| Market Cap | 1.3B | 1.8B | 1.3B | 1.6B | 801M | 501M | 1.5B | 1.3B | 1.1B |
| Avg. Price | 19.71 | 15.50 | 13.96 | 15.62 | 12.94 | 7.20 | 11.02 | 15.21 | 11.85 |
| Year-End Price | 16.05 | 17.09 | 12.08 | 14.92 | 8.01 | 7.80 | 15.43 | 13.28 | 11.85 |
BrightView Holdings, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
BrightView Holdings, Inc. trades at 169.3x trailing earnings, compared to its 15-year median P/E of 48.5x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 64.9x vs a median of 14.3x. The company's 5-year average ROIC is 4.3% with a gross margin of 24.1%. Total shareholder yield (buybacks) is 3.4%. At current prices, the estimated annualized return to fair value is -9.6%.
BrightView Holdings, Inc. (BV) has a current P/E ratio of 169.3, compared to its historical median P/E of 48.5. The stock is currently considered Expensive based on its historical valuation range.
BrightView Holdings, Inc. (BV) has a 5-year average return on invested capital (ROIC) of 4.3%. This is below average and may indicate limited pricing power.
BrightView Holdings, Inc. (BV) has a market capitalization of $1.1B. It is classified as a small-cap stock.
BrightView Holdings, Inc. (BV) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 3.40%.
Based on historical P/E analysis, BrightView Holdings, Inc. (BV) appears expensive. The current P/E of 169.3 is 249% above its historical median of 48.5. The estimated fair value CAGR (P/E method) is -14.3%.
BrightView Holdings, Inc. (BV) operates in the Agricultural Services industry, within the Consumer Defensive sector.
BrightView Holdings, Inc. (BV) reported annual revenue of $2.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
BrightView Holdings, Inc. (BV) has a net profit margin of 2.1%. This is a modest margin.
BrightView Holdings, Inc. (BV) generated $38 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
BrightView Holdings, Inc. (BV) has a debt-to-equity ratio of 0.67. This indicates moderate leverage.
BrightView Holdings, Inc. (BV) reported earnings per share (EPS) of $0.13 in its most recent fiscal year.
BrightView Holdings, Inc. (BV) has a return on equity (ROE) of 4.4%. This indicates moderate shareholder returns.
BrightView Holdings, Inc. (BV) has a 5-year average gross margin of 24.1%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 8 years of financial data for BrightView Holdings, Inc. (BV), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BrightView Holdings, Inc. (BV) has a book value per share of $13.65, based on its most recent annual SEC filing.
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