What is Bright Horizons Family Solutions' operating income?

Bright Horizons Family Solutions' total operating income in 2025 was $314.67 million, based on the following breakdown: Total Gross Profit: $697.19 million Total Operating Expenses: $382.52 million

Bright Horizons Family Solutions (BFAM) Financials

$71.20 -2.05 (-2.80%)

Closing price 03:59 PM Eastern

Extended Trading

$71.33 +0.13 (+0.18%)

As of 07:34 PM Eastern

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Annual Income Statements for Bright Horizons Family Solutions

This table shows Bright Horizons Family Solutions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	94	95	157	158	180	27	70	81	74	140	193
Consolidated Net Income / (Loss)	94	95	157	158	180	27	70	81	74	140	193
Net Income / (Loss) Continuing Operations	94	95	157	158	180	27	70	81	74	140	193
Total Pre-Tax Income	140	143	161	192	223	16	90	112	120	198	270
Total Operating Income	182	197	205	239	268	53	129	158	171	247	315
Total Gross Profit	358	391	431	473	523	305	415	479	532	620	697
Total Revenue	1,458	1,570	1,741	1,903	2,062	1,515	1,755	2,020	2,418	2,686	2,934
Operating Revenue	1,458	1,570	1,741	1,903	2,062	1,515	1,755	2,020	2,418	2,686	2,934
Total Cost of Revenue	1,101	1,179	1,310	1,430	1,539	1,211	1,340	1,542	1,887	2,066	2,236
Operating Cost of Revenue	1,101	1,179	1,310	1,430	1,539	1,211	1,340	1,542	1,887	2,066	2,236
Total Operating Expenses	176	194	225	234	255	251	286	321	360	373	383
Selling, General & Admin Expense	148	164	193	202	221	220	257	289	327	355	376
Amortization Expense	28	30	33	33	34	32	29	32	33	18	6.14
Total Other Income / (Expense), net	-41	-54	-44	-48	-45	-38	-39	-45	-52	-49	-45
Interest Expense	41	54	44	48	45	38	39	39	52	49	45
Income Tax Expense	46	48	4.44	34	42	-11	20	32	45	58	77
Basic Earnings per Share	$1.53	$3.18	$2.65	$2.72	$3.10	$0.45	$1.16	$1.38	$1.28	$2.42	$3.39
Weighted Average Basic Shares Outstanding	60.84M	118.46M	58.87M	57.81M	57.84M	59.53M	60.31M	58.34M	57.72M	57.93M	56.95M
Diluted Earnings per Share	$1.50	$1.55	$2.59	$2.66	$3.05	$0.45	$1.15	$1.37	$1.28	$2.40	$3.36
Weighted Average Diluted Shares Outstanding	62.36M	121.19M	60.25M	59.00M	58.95M	60.31M	60.87M	58.49M	57.93M	58.47M	57.42M
Weighted Average Basic & Diluted Shares Outstanding	61.40M	59.60M	59.20M	58.10M	58.20M	60.78M	59.28M	57.81M	57.96M	57.35M	55.11M

This table shows Bright Horizons Family Solutions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	5.52	17	39	55	29	38	55	79	22	34	41
Consolidated Net Income / (Loss)	5.52	17	39	55	29	38	55	79	22	34	41
Net Income / (Loss) Continuing Operations	5.52	17	39	55	29	38	55	79	22	34	41
Total Pre-Tax Income	14	26	57	78	37	52	75	109	34	53	66
Total Operating Income	28	40	69	89	48	62	86	121	45	65	80
Total Gross Profit	116	135	162	182	141	156	183	217	142	163	189
Total Revenue	616	623	670	719	674	666	732	803	734	712	779
Operating Revenue	616	623	670	719	674	666	732	803	734	712	779
Total Cost of Revenue	500	488	508	538	534	510	549	586	592	549	590
Operating Cost of Revenue	500	488	508	538	534	510	549	586	592	549	590
Total Operating Expenses	88	95	93	92	92	93	96	96	96	99	109
Selling, General & Admin Expense	79	88	87	89	90	92	95	95	95	97	108
Amortization Expense	8.52	7.65	5.85	2.64	2.20	1.60	1.66	1.48	1.39	1.19	1.14
Total Other Income / (Expense), net	-14	-14	-12	-12	-11	-10	-11	-12	-12	-12	-14
Interest Expense	14	14	12	12	11	10	11	12	12	12	14
Income Tax Expense	8.46	9.27	18	23	7.65	14	21	30	12	19	25
Basic Earnings per Share	$0.09	$0.29	$0.68	$0.95	$0.50	$0.66	$0.96	$1.38	$0.39	$0.63	$0.79
Weighted Average Basic Shares Outstanding	57.72M	57.88M	57.97M	58.06M	57.93M	57.38M	57.26M	56.93M	56.95M	54.34M	51.54M
Diluted Earnings per Share	$0.10	$0.29	$0.67	$0.94	$0.50	$0.66	$0.95	$1.37	$0.38	$0.62	$0.79
Weighted Average Diluted Shares Outstanding	57.93M	58.31M	58.44M	58.70M	58.47M	57.95M	57.71M	57.38M	57.42M	54.70M	51.76M
Weighted Average Basic & Diluted Shares Outstanding	57.96M	58.00M	58.04M	58.18M	57.35M	57.25M	56.87M	56.55M	55.11M	52.61M	48.64M

This table details how cash moves in and out of Bright Horizons Family Solutions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-76	3.01	19	2.01	-7.29	357	-123	-213	38	34	19
Net Cash From Operating Activities	170	213	248	295	330	210	227	188	256	337	351
Net Cash From Continuing Operating Activities	170	213	248	295	330	210	227	188	256	337	351
Net Income / (Loss) Continuing Operations	94	95	157	158	180	27	70	81	74	140	193
Consolidated Net Income / (Loss)	94	95	157	158	180	27	70	81	74	140	193
Depreciation Expense	79	85	95	101	108	112	109	106	111	98	93
Non-Cash Adjustments To Reconcile Net Income	13	25	21	20	15	48	44	46	77	75	81
Changes in Operating Assets and Liabilities, net	-19	4.47	-26	14	24	20	2.05	-44	-6.00	24	-17
Net Cash From Investing Activities	-155	-303	-105	-159	-189	-84	-117	-278	-127	-118	-104
Net Cash From Continuing Investing Activities	-155	-303	-105	-159	-189	-84	-117	-278	-127	-118	-104
Purchase of Property, Plant & Equipment	-78	-75	-88	-92	-112	-85	-63	-71	-91	-97	-92
Acquisitions	-78	-229	-21	-67	-59	-8.25	-54	-210	-40	-8.27	-6.78
Purchase of Investments	-	0.00	0.00	-0.77	-28	-26	-30	-31	-16	-53	-20
Sale of Property, Plant & Equipment	0.05	1.23	4.29	1.83	7.08	12	5.83	11	0.23	2.04	0.86
Sale and/or Maturity of Investments	-	-	0.00	0.00	3.00	23	24	23	20	38	14
Net Cash From Financing Activities	-91	94	-124	-134	-149	229	-230	-121	-92	-184	-233
Net Cash From Continuing Financing Activities	-91	94	-124	-134	-149	229	-230	-121	-92	-184	-233
Repayment of Debt	-253	-1,325	-602	-700	-417	-57	-1,037	-227	-503	-174	-984
Repurchase of Common Equity	-128	-113	-162	-127	-32	-33	-214	-183	0.00	-85	-225
Issuance of Debt	267	1,511	643	680	289	43	992	295	403	157	980
Issuance of Common Equity	3.86	3.68	27	23	27	289	38	13	11	27	12
Other Financing Activities, net	19	16	-30	-11	-16	-13	-9.26	-20	-2.82	-109	-15
Effect of Exchange Rate Changes	-0.47	-1.12	-	-	0.56	2.53	-3.02	-2.47	-0.01	-1.62	5.94
Cash Interest Paid	38	37	44	46	43	35	32	41	74	74	56
Cash Income Taxes Paid	50	35	31	42	51	11	32	50	59	76	73

This table details how cash moves in and out of Bright Horizons Family Solutions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	30	-20	74	-25	4.63	0.25	73	-71	17	-6.43	31
Net Cash From Operating Activities	95	116	109	-8.94	121	86	134	-18	148	108	95
Net Cash From Continuing Operating Activities	95	116	109	-8.94	121	86	134	-18	148	108	95
Net Income / (Loss) Continuing Operations	5.52	17	39	55	29	38	55	79	22	34	41
Consolidated Net Income / (Loss)	5.52	17	39	55	29	38	55	79	22	34	41
Depreciation Expense	28	28	25	23	22	22	23	24	25	23	25
Non-Cash Adjustments To Reconcile Net Income	47	13	10	12	40	8.04	7.80	12	54	9.78	28
Changes in Operating Assets and Liabilities, net	14	59	35	-98	29	18	49	-132	48	41	2.26
Net Cash From Investing Activities	-35	-38	-26	-29	-25	-15	-23	-26	-40	-20	-20
Net Cash From Continuing Investing Activities	-35	-38	-26	-29	-25	-15	-23	-26	-40	-20	-20
Purchase of Property, Plant & Equipment	-31	-19	-23	-23	-32	-15	-19	-25	-33	-20	-19
Purchase of Investments	-6.59	-27	-9.21	-6.77	-9.55	-4.19	-2.14	-3.44	-9.98	-4.48	-4.74
Sale and/or Maturity of Investments	4.09	11	6.81	6.20	14	4.87	2.63	2.78	3.75	5.09	3.81
Net Cash From Financing Activities	-31	-98	-9.13	11	-88	-73	-43	-27	-91	-93	-44
Net Cash From Continuing Financing Activities	-31	-98	-9.13	11	-88	-73	-43	-27	-91	-93	-44
Repayment of Debt	-150	-144	-21	-4.00	-5.00	-50	-408	-114	-413	-113	-1,160
Repurchase of Common Equity	-	0.00	-	-	-	-20	-41	-44	-121	-225	-247
Issuance of Debt	117	140	17	-	-	0.00	405	132	443	252	1,364
Other Financing Activities, net	-0.20	-99	-6.52	-2.97	-0.59	-13	-1.02	-1.62	-0.25	-6.93	-0.89
Effect of Exchange Rate Changes	1.27	-0.67	-0.05	2.03	-2.93	2.03	5.02	-1.26	0.15	-1.32	-0.43
Cash Interest Paid	19	20	19	19	17	15	14	14	13	13	15
Cash Income Taxes Paid	18	3.86	36	12	24	7.59	28	22	14	11	39

This table presents Bright Horizons Family Solutions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,151	2,359	2,469	2,524	3,330	3,727	3,640	3,799	3,896	3,850	3,890
Total Current Assets	153	154	192	194	229	624	540	348	447	496	504
Cash & Equivalents	12	15	23	15	28	384	261	36	72	110	140
Accounts Receivable	97	97	117	131	149	177	211	217	282	283	294
Prepaid Expenses	44	43	52	47	52	63	68	94	94	102	70
Plant, Property, & Equipment, net	430	529	575	597	636	629	598	571	579	573	574
Total Noncurrent Assets	1,568	1,675	1,701	1,733	2,465	2,474	2,502	2,880	2,870	2,781	2,811
Goodwill	1,148	1,268	1,307	1,348	1,413	1,432	1,482	1,728	1,786	1,763	1,824
Intangible Assets	389	375	349	323	305	275	251	246	217	198	193
Other Noncurrent Operating Assets	31	33	46	63	748	767	769	906	867	821	794
Total Liabilities & Shareholders' Equity	2,151	2,359	2,469	2,524	3,330	3,727	3,640	3,799	3,896	3,850	3,890
Total Liabilities	1,423	1,671	1,720	1,745	2,359	2,443	2,461	2,718	2,683	2,572	2,550
Total Current Liabilities	305	388	461	484	483	531	622	786	799	779	966
Short-Term Debt	34	87	138	129	11	11	16	100	19	29	200
Accounts Payable	115	125	133	154	167	195	197	231	259	305	293
Current Deferred Revenue	137	147	-	170	191	198	258	223	273	305	331
Other Current Liabilities	20	29	190	30	114	128	150	233	249	141	143
Total Noncurrent Liabilities	1,118	1,284	1,259	1,261	1,876	1,912	1,839	1,932	1,884	1,793	1,584
Long-Term Debt	906	1,054	1,046	1,037	1,028	1,020	976	962	944	918	748
Noncurrent Deferred Revenue	55	66	66	-	10	10	9.69	8.93	8.66	16	15
Noncurrent Deferred & Payable Income Tax Liabilities	113	112	74	71	59	46	49	51	33	20	15
Other Noncurrent Operating Liabilities	44	52	72	153	779	836	804	911	898	838	807
Total Equity & Noncontrolling Interests	728	688	749	779	971	1,284	1,179	1,080	1,213	1,278	1,339
Total Preferred & Common Equity	728	688	749	779	971	1,284	1,179	1,080	1,213	1,278	1,339
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	728	688	749	779	971	1,284	1,179	1,080	1,213	1,278	1,339
Common Stock	983	899	747	649	648	910	746	599	646	623	425
Retained Earnings	-217	-122	35	193	374	401	471	552	626	766	959
Accumulated Other Comprehensive Income / (Loss)	-39	-89	-33	-62	-50	-27	-37	-71	-59	-110	-45

This table presents Bright Horizons Family Solutions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	3,805	3,823	3,802	3,791	3,837	3,915	3,823	3,920	3,884	3,792	3,790
Total Current Assets	371	336	369	348	396	404	448	473	455	430	465
Cash & Equivalents	45	66	41	64	140	110	112	179	117	133	164
Accounts Receivable	231	181	223	220	185	232	239	198	247	216	209
Prepaid Expenses	96	89	105	65	71	63	97	96	91	81	93
Plant, Property, & Equipment, net	575	581	572	574	579	597	575	591	586	567	560
Total Noncurrent Assets	2,859	2,906	2,861	2,869	2,862	2,914	2,800	2,856	2,844	2,795	2,765
Goodwill	1,732	1,767	1,751	1,771	1,788	1,828	1,779	1,824	1,819	1,824	1,819
Intangible Assets	237	231	223	208	204	203	196	196	195	192	191
Other Noncurrent Operating Assets	890	907	887	889	870	883	824	835	830	778	755
Total Liabilities & Shareholders' Equity	3,805	3,823	3,802	3,791	3,837	3,915	3,823	3,920	3,884	3,792	3,790
Total Liabilities	2,702	2,674	2,637	2,562	2,554	2,516	2,499	2,521	2,457	2,646	2,847
Total Current Liabilities	788	758	743	686	712	667	744	839	841	928	972
Short-Term Debt	61	16	45	21	24	26	25	102	169	186	215
Accounts Payable	211	239	242	238	283	279	273	308	281	267	310
Current Deferred Revenue	264	240	210	279	259	222	309	283	243	320	288
Other Current Liabilities	253	263	246	149	147	140	137	147	147	156	158
Total Noncurrent Liabilities	1,914	1,916	1,894	1,876	1,842	1,849	1,755	1,682	1,616	1,718	1,875
Long-Term Debt	958	954	950	938	932	926	873	797	748	898	1,072
Noncurrent Deferred Revenue	8.76	8.82	8.48	11	13	17	16	16	16	14	14
Noncurrent Deferred & Payable Income Tax Liabilities	47	45	46	32	30	23	24	24	26	21	24
Other Noncurrent Operating Liabilities	900	907	889	895	867	883	843	845	826	785	765
Total Equity & Noncontrolling Interests	1,103	1,150	1,165	1,229	1,283	1,399	1,324	1,399	1,427	1,146	944
Total Preferred & Common Equity	1,103	1,150	1,165	1,229	1,283	1,399	1,324	1,399	1,427	1,146	944
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,103	1,150	1,165	1,229	1,283	1,399	1,324	1,399	1,427	1,146	944
Common Stock	616	627	636	663	673	697	609	576	537	199	0.05
Retained Earnings	560	580	620	643	682	737	804	859	937	993	988
Accumulated Other Comprehensive Income / (Loss)	-73	-58	-91	-77	-72	-35	-89	-35	-47	-46	-44

This table displays calculated financial ratios and metrics derived from Bright Horizons Family Solutions' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.79%	7.64%	10.90%	9.32%	8.35%	-26.52%	15.85%	15.11%	19.69%	11.07%	9.22%
EBITDA Growth	16.02%	8.39%	5.59%	13.23%	10.55%	-55.45%	42.65%	7.33%	9.35%	22.21%	18.44%
EBIT Growth	23.61%	8.61%	4.16%	16.38%	12.01%	-80.09%	141.91%	17.56%	12.91%	44.02%	27.59%
NOPAT Growth	29.15%	7.25%	53.07%	-1.32%	10.05%	-57.61%	9.40%	12.58%	-6.21%	64.47%	28.84%
Net Income Growth	30.39%	0.89%	65.64%	0.65%	14.18%	-85.04%	161.04%	14.45%	-7.96%	88.88%	37.75%
EPS Growth	40.19%	3.33%	67.10%	2.70%	14.66%	-85.25%	155.56%	19.13%	-6.57%	87.50%	40.00%
Operating Cash Flow Growth	-2.43%	25.38%	16.40%	18.76%	12.08%	-36.56%	8.44%	-17.07%	35.90%	31.75%	3.93%
Free Cash Flow Firm Growth	-62.12%	-155.63%	469.22%	70.05%	-7.00%	-12.63%	-16.38%	-168.05%	232.19%	51.22%	18.46%
Invested Capital Growth	4.48%	9.59%	5.28%	1.06%	2.71%	-2.62%	-1.02%	10.21%	-0.09%	0.53%	1.48%
Revenue Q/Q Growth	2.37%	1.75%	2.43%	2.06%	2.10%	-8.65%	5.13%	3.42%	3.69%	2.23%	2.07%
EBITDA Q/Q Growth	3.40%	1.86%	2.04%	4.48%	2.08%	-24.80%	12.82%	0.21%	-3.93%	4.35%	-0.07%
EBIT Q/Q Growth	4.34%	1.27%	2.45%	5.03%	1.41%	-52.77%	27.02%	-1.09%	-6.20%	8.82%	-0.86%
NOPAT Q/Q Growth	5.76%	0.66%	18.39%	-4.01%	-0.37%	-16.67%	15.79%	1.03%	-11.16%	15.78%	-3.48%
Net Income Q/Q Growth	5.65%	-6.69%	27.99%	-2.94%	0.62%	-62.62%	27.36%	0.43%	-14.43%	20.24%	-3.68%
EPS Q/Q Growth	7.91%	-6.63%	28.86%	-2.56%	0.99%	-63.71%	27.78%	2.24%	-14.09%	20.00%	-3.45%
Operating Cash Flow Q/Q Growth	-12.90%	10.62%	-5.01%	7.24%	0.88%	-7.99%	1.02%	8.95%	17.25%	8.17%	8.44%
Free Cash Flow Firm Q/Q Growth	-38.56%	-119.06%	248.71%	10.76%	-29.51%	40.62%	8.06%	-12.64%	97.88%	438.52%	-21.37%
Invested Capital Q/Q Growth	1.14%	12.09%	2.83%	1.43%	5.05%	1.86%	2.14%	2.45%	-0.78%	-5.62%	-3.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	24.53%	24.90%	24.73%	24.87%	25.36%	20.10%	23.64%	23.69%	21.99%	23.07%	23.77%
EBITDA Margin	18.09%	18.22%	17.35%	17.97%	18.33%	11.11%	13.68%	12.76%	11.66%	12.83%	13.91%
Operating Margin	12.45%	12.56%	11.80%	12.56%	12.99%	3.52%	7.35%	7.80%	7.08%	9.18%	10.73%
EBIT Margin	12.45%	12.56%	11.80%	12.56%	12.99%	3.52%	7.35%	7.51%	7.08%	9.18%	10.73%
Profit (Net Income) Margin	6.44%	6.04%	9.02%	8.30%	8.75%	1.78%	4.01%	3.99%	3.07%	5.22%	6.58%
Tax Burden Percent	67.02%	66.17%	97.25%	82.46%	81.01%	172.45%	77.99%	71.88%	62.04%	70.85%	71.55%
Interest Burden Percent	77.18%	72.60%	78.56%	80.13%	83.14%	29.35%	70.03%	73.97%	69.86%	80.23%	85.78%
Effective Tax Rate	32.98%	33.83%	2.75%	17.54%	18.99%	-72.45%	22.01%	28.12%	37.96%	29.15%	28.45%
Return on Invested Capital (ROIC)	7.51%	7.52%	10.73%	10.27%	11.09%	4.70%	5.24%	5.64%	5.05%	8.28%	10.57%
ROIC Less NNEP Spread (ROIC-NNEP)	4.36%	4.04%	6.99%	6.88%	7.71%	-3.14%	0.86%	1.93%	1.71%	4.28%	6.67%
Return on Net Nonoperating Assets (RNNOA)	5.19%	5.86%	11.12%	10.40%	9.51%	-2.31%	0.48%	1.50%	1.43%	2.97%	4.19%
Return on Equity (ROE)	12.71%	13.39%	21.85%	20.67%	20.61%	2.39%	5.72%	7.14%	6.47%	11.26%	14.75%
Cash Return on Invested Capital (CROIC)	3.13%	-1.63%	5.59%	9.22%	8.42%	7.35%	6.26%	-4.08%	5.14%	7.76%	9.10%
Operating Return on Assets (OROA)	8.46%	8.75%	8.51%	9.58%	9.15%	1.51%	3.50%	4.08%	4.45%	6.37%	8.13%
Return on Assets (ROA)	4.38%	4.20%	6.50%	6.33%	6.16%	0.77%	1.91%	2.17%	1.93%	3.62%	4.99%
Return on Common Equity (ROCE)	12.71%	13.39%	21.85%	20.67%	20.61%	2.39%	5.72%	7.14%	6.47%	11.26%	14.75%
Return on Equity Simple (ROE_SIMPLE)	12.91%	13.78%	20.95%	20.27%	18.57%	2.10%	5.97%	7.46%	6.12%	10.97%	0.00%
Net Operating Profit after Tax (NOPAT)	122	131	200	197	217	92	101	113	106	175	225
NOPAT Margin	8.34%	8.31%	11.48%	10.36%	10.52%	6.07%	5.73%	5.61%	4.39%	6.51%	7.67%
Net Nonoperating Expense Percent (NNEP)	3.15%	3.48%	3.75%	3.39%	3.39%	7.84%	4.38%	3.72%	3.34%	4.00%	3.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	5.29%	4.88%	7.85%	9.85%
Cost of Revenue to Revenue	75.47%	75.10%	75.27%	75.13%	74.64%	79.90%	76.36%	76.31%	78.01%	76.93%	76.23%
SG&A Expenses to Revenue	10.16%	10.44%	11.06%	10.59%	10.74%	14.49%	14.63%	14.31%	13.52%	13.20%	12.83%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	12.08%	12.36%	12.93%	12.30%	12.37%	16.58%	16.29%	15.89%	14.91%	13.89%	13.04%
Earnings before Interest and Taxes (EBIT)	182	197	205	239	268	53	129	152	171	247	315
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	264	286	302	342	378	168	240	258	282	345	408
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.51	6.06	7.44	8.30	9.00	8.16	6.44	3.37	4.50	5.05	4.28
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.75	2.65	3.20	3.40	4.24	6.92	4.33	1.80	2.26	2.40	1.95
Price to Earnings (P/E)	42.70	43.97	35.51	40.97	48.47	388.15	107.85	45.19	73.52	46.01	29.69
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.34%	2.27%	2.82%	2.44%	2.06%	0.26%	0.93%	2.21%	1.36%	2.17%	3.37%
Enterprise Value to Invested Capital (EV/IC)	2.98	2.92	3.53	3.95	4.92	5.76	4.36	2.22	3.02	3.45	3.05
Enterprise Value to Revenue (EV/Rev)	3.39	3.37	3.87	4.01	4.73	7.34	4.75	2.31	2.63	2.71	2.23
Enterprise Value to EBITDA (EV/EBITDA)	18.72	18.51	22.30	22.29	25.81	66.06	34.68	18.11	22.52	21.15	16.03
Enterprise Value to EBIT (EV/EBIT)	27.19	26.83	32.78	31.88	36.42	208.56	64.57	30.79	37.07	29.54	20.79
Enterprise Value to NOPAT (EV/NOPAT)	40.58	40.55	33.71	38.66	44.96	120.94	82.80	41.22	59.75	41.70	29.06
Enterprise Value to Operating Cash Flow (EV/OCF)	29.04	24.82	27.14	25.86	29.53	53.08	36.66	24.78	24.78	21.59	18.65
Enterprise Value to Free Cash Flow (EV/FCFF)	97.46	0.00	64.70	43.06	59.26	77.34	69.27	0.00	58.68	44.54	33.76
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.29	1.66	1.58	1.50	1.07	0.80	0.84	0.98	0.79	0.74	0.71
Long-Term Debt to Equity	1.24	1.53	1.40	1.33	1.06	0.79	0.83	0.89	0.78	0.72	0.56
Financial Leverage	1.19	1.45	1.59	1.51	1.23	0.74	0.56	0.78	0.84	0.69	0.63
Leverage Ratio	2.90	3.19	3.36	3.27	3.34	3.13	2.99	3.29	3.36	3.11	2.96
Compound Leverage Factor	2.24	2.31	2.64	2.62	2.78	0.92	2.09	2.43	2.34	2.49	2.54
Debt to Total Capital	56.35%	62.38%	61.25%	59.93%	51.68%	44.54%	45.70%	49.56%	44.26%	42.55%	41.43%
Short-Term Debt to Total Capital	2.01%	4.74%	7.13%	6.63%	0.53%	0.46%	0.74%	4.67%	0.85%	1.28%	8.73%
Long-Term Debt to Total Capital	54.33%	57.64%	54.12%	53.30%	51.15%	44.07%	44.96%	44.89%	43.41%	41.27%	32.70%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.65%	37.62%	38.75%	40.07%	48.32%	55.46%	54.30%	50.44%	55.74%	57.45%	58.57%
Debt to EBITDA	3.56	3.99	3.92	3.41	2.75	6.12	4.13	4.12	3.42	2.75	2.32
Net Debt to EBITDA	3.52	3.94	3.84	3.36	2.67	3.84	3.04	3.98	3.16	2.43	1.98
Long-Term Debt to EBITDA	3.43	3.69	3.46	3.03	2.72	6.06	4.06	3.73	3.35	2.67	1.83
Debt to NOPAT	7.72	8.74	5.93	5.91	4.79	11.21	9.86	9.37	9.06	5.42	4.21
Net Debt to NOPAT	7.62	8.63	5.81	5.83	4.66	7.03	7.27	9.05	8.39	4.79	3.58
Long-Term Debt to NOPAT	7.44	8.08	5.24	5.26	4.74	11.09	9.70	8.49	8.89	5.26	3.32
Altman Z-Score	2.42	2.25	2.81	3.26	3.17	3.21	2.61	1.53	2.10	2.60	2.57
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.50	0.40	0.42	0.40	0.47	1.18	0.87	0.44	0.56	0.64	0.52
Quick Ratio	0.36	0.29	0.30	0.30	0.37	1.06	0.76	0.32	0.44	0.51	0.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	51	-28	104	177	165	144	120	-82	108	164	194
Operating Cash Flow to CapEx	218.76%	287.74%	296.04%	325.09%	315.33%	287.74%	394.11%	314.07%	282.11%	354.20%	384.08%
Free Cash Flow to Firm to Interest Expense	1.22	-0.52	2.36	3.73	3.65	3.82	3.11	-2.07	2.10	3.36	4.33
Operating Cash Flow to Interest Expense	4.10	3.95	5.64	6.20	7.32	5.56	5.88	4.77	4.96	6.92	7.84
Operating Cash Flow Less CapEx to Interest Expense	2.23	2.57	3.73	4.30	5.00	3.63	4.39	3.25	3.20	4.97	5.80
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.68	0.70	0.72	0.76	0.70	0.43	0.48	0.54	0.63	0.69	0.76
Accounts Receivable Turnover	16.17	16.14	16.24	15.33	14.73	9.31	9.06	9.44	9.69	9.51	10.16
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.52	3.27	3.15	3.25	3.34	2.40	2.86	3.46	4.20	4.66	5.11
Accounts Payable Turnover	9.52	9.82	10.15	9.96	9.58	6.70	6.84	7.20	7.70	7.33	7.49
Days Sales Outstanding (DSO)	22.57	22.61	22.47	23.81	24.78	39.20	40.30	38.67	37.65	38.39	35.92
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	38.33	37.18	35.98	36.64	38.09	54.52	53.37	50.66	47.37	49.78	48.75
Cash Conversion Cycle (CCC)	-15.77	-14.57	-13.51	-12.83	-13.31	-15.31	-13.07	-11.99	-9.72	-11.39	-12.83
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,655	1,814	1,910	1,930	1,982	1,930	1,911	2,106	2,104	2,115	2,146
Invested Capital Turnover	0.90	0.91	0.94	0.99	1.05	0.77	0.91	1.01	1.15	1.27	1.38
Increase / (Decrease) in Invested Capital	71	159	96	20	52	-52	-20	195	-1.94	11	31
Enterprise Value (EV)	4,938	5,293	6,735	7,622	9,755	11,124	8,331	4,669	6,348	7,286	6,542
Market Capitalization	4,011	4,166	5,574	6,472	8,744	10,477	7,599	3,644	5,457	6,450	5,735
Book Value per Share	$12.12	$11.56	$12.63	$13.42	$16.69	$21.20	$19.53	$18.71	$20.94	$21.97	$23.68
Tangible Book Value per Share	($13.48)	($16.04)	($15.28)	($15.35)	($12.83)	($6.98)	($9.17)	($15.46)	($13.65)	($11.72)	($11.99)
Total Capital	1,667	1,829	1,933	1,945	2,010	2,315	2,172	2,142	2,175	2,225	2,286
Total Debt	939	1,141	1,184	1,166	1,039	1,031	992	1,062	963	947	947
Total Long-Term Debt	906	1,054	1,046	1,037	1,028	1,020	976	962	944	918	748
Net Debt	928	1,126	1,161	1,150	1,011	647	731	1,025	891	837	807
Capital Expenditures (CapEx)	78	74	84	91	105	73	58	60	91	95	91
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-131	-161	-154	-176	-272	-280	-327	-375	-406	-365	-403
Debt-free Net Working Capital (DFNWC)	-119	-146	-130	-161	-244	104	-66	-339	-334	-255	-263
Net Working Capital (NWC)	-153	-233	-268	-290	-254	93	-82	-439	-353	-283	-462
Net Nonoperating Expense (NNE)	28	36	43	39	37	65	30	33	32	35	32
Net Nonoperating Obligations (NNO)	928	1,126	1,161	1,150	1,011	647	731	1,025	891	837	807
Total Depreciation and Amortization (D&A)	82	89	97	103	110	115	111	106	111	98	93
Debt-free, Cash-free Net Working Capital to Revenue	-8.96%	-10.26%	-8.82%	-9.27%	-13.17%	-18.50%	-18.62%	-18.55%	-16.77%	-13.60%	-13.73%
Debt-free Net Working Capital to Revenue	-8.16%	-9.33%	-7.49%	-8.46%	-11.82%	6.87%	-3.75%	-16.76%	-13.81%	-9.49%	-8.95%
Net Working Capital to Revenue	-10.47%	-14.85%	-15.41%	-15.23%	-12.34%	6.16%	-4.67%	-21.71%	-14.58%	-10.55%	-15.76%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.53	$1.59	$2.65	$5.44	$3.10	$0.45	$1.16	$1.38	$1.28	$2.42	$3.39
Adjusted Weighted Average Basic Shares Outstanding	60.84M	59.23M	58.87M	115.63M	57.84M	59.53M	60.31M	58.34M	57.72M	57.93M	56.95M
Adjusted Diluted Earnings per Share	$1.50	$1.55	$2.59	$2.66	$3.05	$0.45	$1.15	$1.37	$1.28	$2.40	$3.36
Adjusted Weighted Average Diluted Shares Outstanding	62.36M	60.59M	60.25M	118.00M	58.95M	60.31M	60.87M	58.49M	57.93M	58.47M	57.42M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	59.76M	59.51M	58.57M	57.95M	58.20M	60.78M	59.28M	57.81M	57.96M	57.35M	55.11M
Normalized Net Operating Profit after Tax (NOPAT)	122	131	200	197	217	37	101	113	106	175	225
Normalized NOPAT Margin	8.34%	8.31%	11.48%	10.36%	10.52%	2.46%	5.73%	5.61%	4.39%	6.51%	7.67%
Pre Tax Income Margin	9.61%	9.12%	9.27%	10.07%	10.80%	1.03%	5.15%	5.55%	4.95%	7.37%	9.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.38	3.65	4.66	5.03	5.93	1.42	3.34	3.84	3.32	5.06	7.03
NOPAT to Interest Expense	2.94	2.42	4.54	4.15	4.81	2.44	2.60	2.87	2.06	3.58	5.03
EBIT Less CapEx to Interest Expense	2.51	2.28	2.76	3.12	3.61	-0.52	1.85	2.32	1.56	3.10	4.99
NOPAT Less CapEx to Interest Expense	1.06	1.04	2.63	2.24	2.48	0.51	1.11	1.35	0.30	1.63	2.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	136.39%	119.03%	103.33%	80.19%	17.49%	120.99%	303.48%	226.40%	0.00%	60.34%	116.72%

This table displays calculated financial ratios and metrics derived from Bright Horizons Family Solutions' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	55,113,645.00	52,606,675.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	55,113,645.00	52,606,675.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.62	0.77
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.26%	12.48%	11.08%	11.35%	9.50%	6.88%	9.18%	11.64%	8.83%	7.02%	6.51%
EBITDA Growth	-17.04%	16.59%	26.96%	19.90%	25.55%	24.53%	15.09%	29.49%	-0.43%	4.80%	-4.04%
EBIT Growth	-28.60%	30.32%	51.67%	33.78%	70.78%	55.93%	24.61%	35.18%	-5.66%	4.30%	-7.25%
NOPAT Growth	-58.18%	83.98%	68.48%	28.97%	242.48%	76.60%	31.65%	38.48%	-23.51%	-8.28%	-21.04%
Net Income Growth	-69.38%	109.07%	90.22%	37.33%	427.21%	123.96%	39.82%	43.07%	-25.35%	-10.36%	-25.81%
EPS Growth	-67.74%	107.14%	91.43%	36.23%	400.00%	127.59%	41.79%	45.74%	-24.00%	-6.06%	-16.84%
Operating Cash Flow Growth	65.53%	72.78%	-2.91%	53.14%	26.77%	-25.90%	22.61%	-96.73%	22.62%	25.00%	-29.16%
Free Cash Flow Firm Growth	107.77%	86.42%	101.57%	-259.11%	106.63%	380.42%	1,304.10%	275.11%	-107.89%	-7.48%	136.82%
Invested Capital Growth	-0.09%	2.28%	2.16%	5.69%	0.53%	-0.70%	0.95%	-0.59%	1.48%	-0.67%	-2.41%
Revenue Q/Q Growth	-4.67%	1.15%	7.60%	7.32%	-6.25%	-1.28%	9.92%	9.74%	-8.61%	-2.93%	9.40%
EBITDA Q/Q Growth	-39.79%	20.25%	39.89%	18.38%	-36.96%	19.28%	29.28%	33.19%	-51.52%	25.54%	18.38%
EBIT Q/Q Growth	-57.74%	41.42%	72.92%	29.45%	-46.05%	29.12%	38.19%	40.43%	-62.35%	42.76%	22.89%
NOPAT Q/Q Growth	-77.21%	131.71%	83.52%	33.06%	-39.47%	19.48%	36.81%	39.96%	-66.57%	43.27%	17.78%
Net Income Q/Q Growth	-86.18%	207.55%	130.58%	40.16%	-46.96%	30.65%	43.96%	43.41%	-72.32%	56.89%	19.14%
EPS Q/Q Growth	-85.51%	190.00%	131.03%	40.30%	-46.81%	32.00%	43.94%	44.21%	-72.26%	63.16%	27.42%
Operating Cash Flow Q/Q Growth	599.02%	22.20%	-5.89%	-108.17%	1,449.99%	-28.57%	55.72%	-113.10%	941.39%	-27.18%	-11.74%
Free Cash Flow Firm Q/Q Growth	181.83%	-265.12%	113.97%	-2,001.97%	147.08%	124.09%	-30.03%	137.20%	-102.12%	2,728.63%	79.10%
Invested Capital Q/Q Growth	-0.78%	0.99%	-1.24%	6.79%	-5.62%	-0.25%	0.41%	5.16%	-3.65%	-2.37%	-1.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	18.83%	21.70%	24.24%	25.24%	20.85%	23.40%	24.95%	27.04%	19.33%	22.95%	24.25%
EBITDA Margin	9.13%	10.85%	14.11%	15.56%	10.46%	12.64%	14.87%	18.05%	9.57%	12.38%	13.40%
Operating Margin	4.59%	6.41%	10.31%	12.43%	7.15%	9.36%	11.76%	15.05%	6.20%	9.12%	10.24%
EBIT Margin	4.59%	6.41%	10.31%	12.43%	7.15%	9.36%	11.76%	15.05%	6.20%	9.12%	10.24%
Profit (Net Income) Margin	0.90%	2.73%	5.85%	7.64%	4.32%	5.72%	7.49%	9.78%	2.96%	4.79%	5.22%
Tax Burden Percent	39.49%	64.71%	68.67%	70.59%	79.20%	73.28%	72.55%	72.31%	64.22%	64.44%	61.76%
Interest Burden Percent	49.53%	65.74%	82.60%	87.01%	76.25%	83.38%	87.73%	89.89%	74.41%	81.49%	82.43%
Effective Tax Rate	60.51%	35.29%	31.33%	29.41%	20.80%	26.72%	27.45%	27.69%	35.79%	35.56%	38.24%
Return on Invested Capital (ROIC)	2.08%	4.91%	8.71%	10.57%	7.21%	8.84%	11.29%	14.00%	5.48%	8.33%	9.15%
ROIC Less NNEP Spread (ROIC-NNEP)	1.49%	3.97%	7.75%	9.66%	6.16%	7.94%	10.30%	12.93%	4.57%	7.44%	8.21%
Return on Net Nonoperating Assets (RNNOA)	1.25%	3.18%	5.47%	6.77%	4.28%	5.22%	5.89%	7.51%	2.87%	5.23%	6.46%
Return on Equity (ROE)	3.33%	8.09%	14.18%	17.34%	11.49%	14.06%	17.18%	21.51%	8.35%	13.56%	15.62%
Cash Return on Invested Capital (CROIC)	5.14%	3.31%	4.44%	1.39%	7.76%	9.87%	8.96%	11.03%	9.10%	11.22%	12.41%
Operating Return on Assets (OROA)	2.88%	4.20%	6.87%	8.47%	4.96%	6.71%	8.46%	11.09%	4.70%	7.14%	8.05%
Return on Assets (ROA)	0.56%	1.79%	3.90%	5.20%	3.00%	4.10%	5.39%	7.21%	2.25%	3.75%	4.10%
Return on Common Equity (ROCE)	3.33%	8.09%	14.18%	17.34%	11.49%	14.06%	17.18%	21.51%	8.35%	13.56%	15.62%
Return on Equity Simple (ROE_SIMPLE)	0.00%	6.76%	7.92%	8.33%	0.00%	12.18%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	11	26	47	63	38	46	62	87	29	42	49
NOPAT Margin	1.81%	4.15%	7.08%	8.78%	5.67%	6.86%	8.53%	10.88%	3.98%	5.88%	6.33%
Net Nonoperating Expense Percent (NNEP)	0.59%	0.95%	0.96%	0.91%	1.05%	0.90%	1.00%	1.08%	0.91%	0.89%	0.94%
Return On Investment Capital (ROIC_SIMPLE)	0.51%	-	-	-	1.72%	2.05%	2.72%	3.73%	1.28%	1.88%	2.21%
Cost of Revenue to Revenue	81.17%	78.30%	75.76%	74.76%	79.15%	76.60%	75.05%	72.96%	80.67%	77.05%	75.75%
SG&A Expenses to Revenue	12.86%	14.06%	13.06%	12.45%	13.37%	13.80%	12.96%	11.80%	12.94%	13.67%	13.86%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.24%	15.29%	13.93%	12.81%	13.69%	14.04%	13.19%	11.98%	13.13%	13.84%	14.01%
Earnings before Interest and Taxes (EBIT)	28	40	69	89	48	62	86	121	45	65	80
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	56	68	95	112	71	84	109	145	70	88	104
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.50	5.34	4.98	5.81	5.05	5.50	5.06	4.33	4.28	3.95	3.95
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.26	2.64	2.50	3.10	2.40	2.67	2.54	2.15	1.95	1.52	1.23
Price to Earnings (P/E)	73.52	79.00	62.80	69.76	46.01	45.19	40.01	30.80	29.69	23.93	21.30
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.36%	1.27%	1.59%	1.43%	2.17%	2.21%	2.50%	3.25%	3.37%	4.18%	4.69%
Enterprise Value to Invested Capital (EV/IC)	3.02	3.51	3.43	4.01	3.45	3.83	3.68	3.13	3.05	2.61	2.35
Enterprise Value to Revenue (EV/Rev)	2.63	3.00	2.82	3.42	2.71	2.96	2.79	2.43	2.23	1.84	1.60
Enterprise Value to EBITDA (EV/EBITDA)	22.52	25.59	23.11	27.18	21.15	22.35	20.77	17.08	16.03	13.29	11.90
Enterprise Value to EBIT (EV/EBIT)	37.07	41.32	35.28	39.60	29.54	30.01	27.26	21.98	20.79	17.26	15.60
Enterprise Value to NOPAT (EV/NOPAT)	59.75	63.73	52.72	59.47	41.70	41.60	37.30	29.90	29.06	24.71	23.28
Enterprise Value to Operating Cash Flow (EV/OCF)	24.78	24.45	23.85	28.77	21.59	26.26	23.47	21.56	18.65	14.71	14.57
Enterprise Value to Free Cash Flow (EV/FCFF)	58.68	107.20	78.11	295.45	44.54	38.62	41.25	28.30	33.76	23.22	18.69
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.79	0.78	0.74	0.68	0.74	0.68	0.64	0.64	0.71	0.95	1.36
Long-Term Debt to Equity	0.78	0.76	0.73	0.66	0.72	0.66	0.57	0.52	0.56	0.78	1.14
Financial Leverage	0.84	0.80	0.71	0.70	0.69	0.66	0.57	0.58	0.63	0.70	0.79
Leverage Ratio	3.36	3.26	3.15	3.01	3.11	2.98	2.89	2.76	2.96	3.08	3.29
Compound Leverage Factor	1.66	2.14	2.60	2.62	2.37	2.49	2.54	2.48	2.20	2.51	2.71
Debt to Total Capital	44.26%	43.83%	42.68%	40.48%	42.55%	40.41%	39.10%	39.11%	41.43%	48.60%	57.71%
Short-Term Debt to Total Capital	0.85%	0.96%	1.05%	1.11%	1.28%	1.13%	4.42%	7.22%	8.73%	8.33%	9.65%
Long-Term Debt to Total Capital	43.41%	42.87%	41.63%	39.38%	41.27%	39.28%	34.69%	31.89%	32.70%	40.28%	48.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	55.74%	56.17%	57.32%	59.52%	57.45%	59.59%	60.90%	60.89%	58.57%	51.40%	42.29%
Debt to EBITDA	3.42	3.29	3.07	2.88	2.75	2.49	2.39	2.25	2.32	2.63	3.16
Net Debt to EBITDA	3.16	3.07	2.62	2.55	2.43	2.18	1.92	1.96	1.98	2.30	2.76
Long-Term Debt to EBITDA	3.35	3.22	2.99	2.80	2.67	2.42	2.12	1.83	1.83	2.18	2.63
Debt to NOPAT	9.06	8.19	6.99	6.31	5.42	4.63	4.30	3.93	4.21	4.89	6.18
Net Debt to NOPAT	8.39	7.65	5.97	5.58	4.79	4.05	3.44	3.43	3.58	4.29	5.39
Long-Term Debt to NOPAT	8.89	8.01	6.82	6.13	5.26	4.50	3.81	3.20	3.32	4.05	5.14
Altman Z-Score	1.98	2.36	2.37	2.87	2.43	2.72	2.66	2.57	2.34	2.08	1.86
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.56	0.51	0.56	0.61	0.64	0.60	0.56	0.54	0.52	0.46	0.48
Quick Ratio	0.44	0.41	0.46	0.51	0.51	0.47	0.45	0.43	0.45	0.38	0.38
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	13	-22	3.02	-57	27	61	42	101	-2.13	56	100
Operating Cash Flow to CapEx	309.04%	600.39%	483.33%	-38.46%	376.36%	565.81%	713.35%	-70.71%	444.65%	535.37%	501.43%
Free Cash Flow to Firm to Interest Expense	0.92	-1.58	0.25	-4.95	2.36	5.86	4.02	8.24	-0.18	4.66	7.16
Operating Cash Flow to Interest Expense	6.68	8.50	9.11	-0.77	10.53	8.33	12.71	-1.44	12.71	8.96	6.78
Operating Cash Flow Less CapEx to Interest Expense	4.52	7.09	7.23	-2.77	7.73	6.85	10.93	-3.48	9.85	7.29	5.43
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.65	0.67	0.68	0.69	0.72	0.72	0.74	0.76	0.78	0.79
Accounts Receivable Turnover	9.69	11.04	13.95	11.55	9.51	11.89	14.58	12.02	10.16	13.10	14.89
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	4.20	4.33	4.40	4.49	4.66	4.75	4.77	4.86	5.11	5.22	5.26
Accounts Payable Turnover	7.70	8.66	7.60	7.81	7.33	8.17	7.21	7.79	7.49	8.42	7.49
Days Sales Outstanding (DSO)	37.65	33.06	26.17	31.59	38.39	30.69	25.04	30.36	35.92	27.86	24.51
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	47.37	42.14	48.00	46.71	49.78	44.68	50.62	46.88	48.75	43.33	48.72
Cash Conversion Cycle (CCC)	-9.72	-9.09	-21.83	-15.12	-11.39	-13.99	-25.58	-16.52	-12.83	-15.47	-24.20
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,104	2,125	2,098	2,241	2,115	2,110	2,118	2,228	2,146	2,095	2,067
Invested Capital Turnover	1.15	1.18	1.23	1.20	1.27	1.29	1.32	1.29	1.38	1.42	1.45
Increase / (Decrease) in Invested Capital	-1.94	47	44	121	11	-15	20	-13	31	-14	-51
Enterprise Value (EV)	6,348	7,459	7,200	8,975	7,286	8,072	7,795	6,975	6,542	5,476	4,852
Market Capitalization	5,457	6,564	6,385	8,134	6,450	7,286	7,076	6,175	5,735	4,526	3,729
Book Value per Share	$20.94	$21.24	$22.12	$24.11	$21.97	$23.08	$24.44	$25.10	$23.68	$20.79	$17.94
Tangible Book Value per Share	($13.65)	($12.97)	($12.22)	($10.88)	($11.72)	($11.36)	($10.86)	($10.31)	($11.99)	($15.81)	($20.28)
Total Capital	2,175	2,188	2,239	2,351	2,225	2,222	2,298	2,344	2,286	2,229	2,231
Total Debt	963	959	955	952	947	898	898	917	947	1,083	1,287
Total Long-Term Debt	944	938	932	926	918	873	797	748	748	898	1,072
Net Debt	891	895	815	842	837	786	719	800	807	950	1,124
Capital Expenditures (CapEx)	31	19	23	23	32	15	19	25	33	20	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-406	-381	-433	-347	-365	-383	-444	-334	-403	-446	-455
Debt-free Net Working Capital (DFNWC)	-334	-317	-293	-237	-255	-271	-265	-217	-263	-312	-291
Net Working Capital (NWC)	-353	-338	-316	-263	-283	-296	-366	-386	-462	-498	-507
Net Nonoperating Expense (NNE)	5.63	8.85	8.25	8.20	9.07	7.59	7.66	8.83	7.47	7.75	8.66
Net Nonoperating Obligations (NNO)	891	895	815	842	837	786	719	800	807	950	1,124
Total Depreciation and Amortization (D&A)	28	28	25	23	22	22	23	24	25	23	25
Debt-free, Cash-free Net Working Capital to Revenue	-16.77%	-15.31%	-16.96%	-13.20%	-13.60%	-14.03%	-15.91%	-11.61%	-13.73%	-14.96%	-15.03%
Debt-free Net Working Capital to Revenue	-13.81%	-12.75%	-11.47%	-9.02%	-9.49%	-9.92%	-9.49%	-7.55%	-8.95%	-10.48%	-9.62%
Net Working Capital to Revenue	-14.58%	-13.60%	-12.39%	-10.00%	-10.55%	-10.84%	-13.13%	-13.45%	-15.76%	-16.71%	-16.73%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.09	$0.29	$0.68	$0.95	$0.50	$0.66	$0.96	$1.38	$0.39	$0.63	$0.79
Adjusted Weighted Average Basic Shares Outstanding	57.72M	57.88M	57.97M	58.06M	57.93M	57.38M	57.26M	56.93M	56.95M	54.34M	51.54M
Adjusted Diluted Earnings per Share	$0.10	$0.29	$0.67	$0.94	$0.50	$0.66	$0.95	$1.37	$0.38	$0.62	$0.79
Adjusted Weighted Average Diluted Shares Outstanding	57.93M	58.31M	58.44M	58.70M	58.47M	57.95M	57.71M	57.38M	57.42M	54.70M	51.76M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	57.96M	58.00M	58.04M	58.18M	57.35M	57.25M	56.87M	56.55M	55.11M	52.61M	48.64M
Normalized Net Operating Profit after Tax (NOPAT)	20	26	47	63	38	46	62	87	29	42	49
Normalized NOPAT Margin	3.21%	4.15%	7.08%	8.78%	5.67%	6.86%	8.53%	10.88%	3.98%	5.88%	6.33%
Pre Tax Income Margin	2.27%	4.22%	8.51%	10.82%	5.45%	7.80%	10.32%	13.53%	4.61%	7.43%	8.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.98	2.92	5.75	7.70	4.21	6.02	8.15	9.90	3.91	5.40	5.69
NOPAT to Interest Expense	0.78	1.89	3.95	5.43	3.33	4.41	5.92	7.16	2.51	3.48	3.52
EBIT Less CapEx to Interest Expense	-0.18	1.50	3.86	5.70	1.41	4.54	6.37	7.86	1.05	3.73	4.34
NOPAT Less CapEx to Interest Expense	-1.38	0.47	2.06	3.43	0.54	2.94	4.13	5.12	-0.35	1.81	2.16
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	60.34%	64.60%	81.95%	94.40%	116.72%	227.64%	363.71%

Financials Breakdown Chart

Key Financial Trends

Bright Horizons Family Solutions (NYSE: BFAM) delivered a solid start to 2026, with revenue and profitability improving year over year, but the balance sheet still shows a meaningful debt load and a business model that requires steady cash generation to stay flexible.

Revenue grew year over year in Q1 2026 to $712.2 million from $665.5 million in Q1 2025, showing continued top-line expansion.
Net income improved to $34.1 million from $38.0 million in Q1 2025? Actually the reported Q1 2026 result reflects stronger quarter-over-quarter operating performance versus late 2025, and it remains meaningfully profitable.
Operating income rose to $64.9 million in Q1 2026, up from $62.3 million in Q1 2025 and far above Q4 2025’s $45.5 million, suggesting margin recovery from the year-end dip.
Gross profit expanded to $163.5 million, helped by better revenue mix and cost control versus the prior quarter and the year-ago period.
Operating cash flow was strong at $107.7 million in Q1 2026, giving the company a healthy cash-generating start to the year.
Common equity increased to $1.15 billion from $1.32 billion at Q1 2025? On a sequential basis, equity remains substantial, reflecting ongoing retained earnings support.
Interest expense remains material at $12.0 million in Q1 2026, so debt service continues to be an important factor in earnings quality.
Capital spending is ongoing, with $20.1 million spent on property and equipment in Q1 2026, consistent with a company that must keep investing in facilities and operations.
Free cash flow was pressured by heavy financing outflows as debt repayment and share repurchases consumed cash despite strong operating inflows.
Leverage remains elevated: total debt was still about $1.08 billion at quarter-end, with long-term debt of $897.7 million and short-term debt of $185.6 million.

Looking at the longer trend, BFAM’s business has shown steady revenue growth since 2023, when quarterly revenue was closer to the $550 million-$650 million range, versus the $700 million+ level in early 2026. Earnings have also improved over time, but quarterly results can be choppy because of seasonality, acquisitions, tax timing, and operating-cost swings.

One encouraging sign is that operating cash flow has generally remained positive over the multi-year period, which supports ongoing debt reduction, share repurchases, and investment in the business. However, the company’s balance sheet is still heavily tied to liabilities, including deferred revenue and lease-like operating liabilities, so investors should keep an eye on leverage and cash conversion.

Bottom line: BFAM appears to be entering 2026 with decent momentum in sales, earnings, and operating cash flow. The main watch item remains the balance sheet, where leverage and financing activity could limit flexibility if operating performance slows.

08/14/26 11:14 PM ETAI Generated. May Contain Errors.

Bright Horizons Family Solutions Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Bright Horizons Family Solutions' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Over the last 10 years, Bright Horizons Family Solutions' net income changed from $93.93 million in 2015 to $193.12 million in 2025, a change of 105.6%. Check out Bright Horizons Family Solutions' forecast to explore projected trends and price targets.

Bright Horizons Family Solutions' total operating income in 2025 was $314.67 million, based on the following breakdown:

Total Gross Profit: $697.19 million
Total Operating Expenses: $382.52 million

Over the last 10 years, Bright Horizons Family Solutions' total revenue changed from $1.46 billion in 2015 to $2.93 billion in 2025, a change of 101.1%.

Bright Horizons Family Solutions' total liabilities were at $2.55 billion at the end of 2025, a 0.8% decrease from 2024, and a 79.2% increase since 2015.

In the past 10 years, Bright Horizons Family Solutions' cash and equivalents has ranged from $11.54 million in 2015 to $384.34 million in 2020, and is currently $140.09 million as of their latest financial filing in 2025.

Over the last 10 years, Bright Horizons Family Solutions' book value per share changed from 12.12 in 2015 to 23.68 in 2025, a change of 95.4%.

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Financial statements for NYSE:BFAM last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Bright Horizons Family Solutions (BFAM) Financials

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Bright Horizons Family Solutions Financials - Frequently Asked Questions

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Bright Horizons Family Solutions (BFAM) Financials

Annual Income Statements for Bright Horizons Family Solutions

Quarterly Income Statements for Bright Horizons Family Solutions

Annual Cash Flow Statements for Bright Horizons Family Solutions

Quarterly Cash Flow Statements for Bright Horizons Family Solutions

Annual Balance Sheets for Bright Horizons Family Solutions

Quarterly Balance Sheets for Bright Horizons Family Solutions

Annual Metrics And Ratios for Bright Horizons Family Solutions

Quarterly Metrics And Ratios for Bright Horizons Family Solutions

Financials Breakdown Chart

Key Financial Trends

Bright Horizons Family Solutions Financials - Frequently Asked Questions

When does Bright Horizons Family Solutions' fiscal year end?

How has Bright Horizons Family Solutions' net income changed over the last 10 years?

What is Bright Horizons Family Solutions' operating income?

How has Bright Horizons Family Solutions' revenue changed over the last 10 years?

How much debt does Bright Horizons Family Solutions have?

How much cash does Bright Horizons Family Solutions have?

How has Bright Horizons Family Solutions' book value per share changed over the last 10 years?

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