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BrightView Holdings (BV) FY2026 results: revenue $2.7 billion, up 1.5% on the year

BrightView Holdings, Inc. (BV) reported revenue of $2.7 billion for fiscal 2026, the year ended 30 September 2026, up 1.5% on the year before. Net income was $1 million, down 98.2%, and diluted earnings per share $-0.37. The figures are the company's own, from the 10-K it filed with the SEC on 10 November 2026.

Revenue
$2.7 billion
+1.5% on the year
FY2019FY2026
Operating margin
2.8%
5.0% a year earlier
FY2019FY2026
Net income
$1 million
-98.2% on the year
FY2019FY2026
Diluted EPS
-$0.37
FY2019FY2026

this yearthe year beforeHover a bar for its figure.

The year in brief

From this 10-K

BrightView Holdings, Inc. is a holding company that conducts substantially all of its activity through its wholly-owned subsidiary, BrightView Landscapes, LLC. It provides commercial landscaping services in the United States, from landscape maintenance and enhancements to tree care and landscape development. It delivers its services through over 270 branches in 37 U.S. states, plus a qualified service partner network. As of 30 September 2026 it had approximately 17,700 employees, including seasonal workers.

BrightView Holdings, Inc., the 10-K for 2026

BrightView Holdings, Inc. is a holding company that conducts substantially all of its activity through its wholly-owned subsidiary, BrightView Landscapes, LLC. It provides commercial landscaping services in the United States, from landscape maintenance and enhancements to tree care and landscape development. It delivers its services through over 270 branches in 37 U.S. states, plus a qualified service partner network. As of 30 September 2026 it had approximately 17,700 employees, including seasonal workers.

How the business is organised

BrightView reports two segments, Maintenance Services and Development Services. Maintenance services are mostly self-performed through the national branch network and are route-based. Development Services is centred on approximately 50 branch locations in large metropolitan areas, and some of its facilities are shared with the Maintenance organisation.

A representative maintenance branch serves 25-150 customers across 50-250 sites. A branch manager leads each branch, supported by operations managers, account managers and 2-3 dedicated business developers. Regional operational vice presidents have an average tenure of 22 years. Human resources, procurement and other process-driven functions are handled centrally. In November 2023 the company launched its One BrightView initiative, which restructured the organisation around a customer-centred approach.

What it sells

Maintenance Services covers mowing, gardening, mulching and snow removal, along with water management, irrigation maintenance, tree care and golf course maintenance. Recurring landscape maintenance is provided under annual contracts that typically run one to three years. The customer can generally cancel these contracts with 30-90 days' notice, and fees are typically billed in equal monthly amounts. Account managers also sell enhancements, which are supplemental services outside the maintenance contract.

Snow removal is provided under fixed fee or per occurrence contracts. A portion of the fixed fee contracts carries guaranteed minimum payments regardless of snowfall.

Development Services designs and installs landscapes for new facilities and major redesign projects. Its work includes landscape architecture, irrigation installation, tree moving, pool and water features, sports field services and specialty turf services. Projects generally range from $100,000 to over $10 million, with an average of approximately $1.6 million. Contracts run from 2-3 months to 2-3 years. BrightView largely self-performs this work and subcontracts services such as fencing, lighting and parking lot construction.

Who buys from it

Maintenance customers include corporate campuses, Homeowners Associations, public parks, hotels and resorts, airport authorities, municipalities, hospitals, educational institutions, restaurants and retail, and golf courses. The customer base includes approximately 7,400 office parks and corporate campuses, 6,600 residential communities and 520 educational institutions. BrightView also serves as Field Consultant to Major League Baseball.

The top ten customers accounted for approximately 17% of fiscal 2026 revenues, and no single customer accounted for more than 4%. In Development Services, BrightView is typically hired by general contractors. Some end customers ask their general contractors to use BrightView.

How it competes

The company estimates that it holds a 1.6% share of the combined landscape maintenance and snow removal market. It cites a 2026 IBISWorld report counting over 680,000 enterprises providing landscape maintenance services in the United States, most of them sole proprietors. In Maintenance Services most competitors are smaller local and regional firms. In Development Services, competitors are generally smaller local and regional firms. The company lists quality, service, experience, breadth of services and price as the main competitive factors.

Sales are field-based. More than 363 business developers pursue new customers locally, and a separate 20-member team targets national accounts. More than 660 branch-level account managers each maintain customer relationships. The company also uses technology tools. BrightView Connect lets customers send service requests and landscape pictures to their account manager and field team. An electronic time capture system records crew hours for payroll and job costing.

Seasons and weather

Spring brings mulching, flower planting and intensive mowing, and fall brings leaf removal. Snow removal fills the winter in seasonal markets. In evergreen markets, which have a year-round growing season, maintenance runs twelve months a year. Revenues and net income have typically been higher in the third and fourth fiscal quarters, which fall in spring and summer.

Snow removal results follow the amount and number of snowfall events. The company benchmarks them against ten- and thirty-year averages. Hurricanes and tropical storms can add cleanup work but can also disrupt contracted services.

Its people, fleet and suppliers

Of the approximately 17,700 employees, about 16,700 are full-time and about 1000 are part-time. Full-time employees number 14,200 in Maintenance Services and 2,100 in Development Services, and corporate staff is approximately 400. About 5% of employees are covered by collective bargaining agreements. The company uses the H-2B visa program for part of its seasonal labor.

BrightView operates a fleet of approximately 15,000 trucks and trailers. It buys equipment, fertilizer, seed, chemicals, irrigation equipment, nursery goods, lighting and hardscapes. It generally buys through purchase orders rather than long-term contracts with firm purchase commitments. Its vehicles fall under U.S. Department of Transportation and Federal Motor Carrier Safety Administration requirements, and its workforce is subject to audits by U.S. Immigration and Customs Enforcement. Its operations are also subject to federal, state and local environmental laws.

From BrightView's annual report on Form 10-K for the year ended 30 September 2026. The filing

Written from the 10-K filed 10 November 2026: read the full 10-K.

The four quarters: Q1 FY2026 · Q2 FY2026 · Q3 FY2026 · Q4 FY2026

Income statement (profit and loss)

$ millionFY2026FY2025FY2024On the yearLast 8 years
Revenue2,7132,6732,767+1.5%
Cost of revenue2,1602,0512,122+5.3%
Gross profit553622646-11.1%
Gross margin20.4%23.3%23.3%
Selling, general and administrative456458496-0.3%
Operating income74.8135157-44.4%
Operating margin2.8%5.0%5.7%
Interest expense55.453.762.4+3.2%
Pre-tax income10.181.396.5-87.6%
Income tax9.125.330.1-64.0%
Effective tax rate90.1%31.1%31.2%
Net income1.056.066.4-98.2%
Net margin0.0%2.1%2.4%
Diluted EPS-$0.37$0.13$0.20
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2026FY2025FY2024On the yearLast 8 years
Operating cash flow185292206-36.7%
Capital expenditure22525478.4-11.5%
Free cash flow-40.337.6127
Free cash flow margin-1.5%1.4%4.6%
Cash from investing-186-224-5.6
Cash from financing-70.0-134-127
Depreciation and amortisation208172144+21.5%
Share-based compensation17.518.220.2-3.8%
Buybacks56.924.23.1+135.1%
Diluted shares, weighted93m97m96m-3.1%
Shares outstanding at period end92m95m95m-3.3%

Balance sheet

$ millionFY2026FY2025FY2024On the yearLast 8 years
Shareholders' equity1,2271,2931,275-5.1%
Debt890790802+12.6%
Operating lease liabilities57.253.562.6+6.9%
Finance lease liabilities80.137.131.2+115.9%
Other liabilities1,1711,2181,220-3.8%
Total liabilities and equity3,4253,3923,392+1.0%
Fixed assets636542392+17.5%
Goodwill2,0162,0162,0160.0%
Intangible assets44.766.595.8-32.8%
Cash and equivalents3.674.5140-95.2%
Receivables389393415-1.0%
Other assets336301333+11.7%
Total assets3,4253,3923,392+1.0%

10-K for the year ended 30 September 2026, filed 10 November 2026: the filing.