Black Rock Coffee Bar Inc. Class A Common Stock (BRCB)

FairStock Score: 47/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses with durable competitive advantages, honest accounting, and a margin of safety. Black Rock Coffee Bar is a drive-thru coffee chain with 2,800 employees and modest scale. The revenue record is encouraging: in fiscal year 2023, the year ended 2023-12-31, revenue was $133.2M; in fiscal year 2024, the year ended 2024-12-31, revenue was $160.9M; and in fiscal year 2025, the year ended 2025-12-31, revenue was $200.3M. More recently, in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $63.0M and net income was $1.2M, or $0.06 diluted EPS. In fiscal Q1 2026, the quarter ended 2026-03-31, revenue was $55.5M and net income was $378,000. That is progress. But the long-term record still shows in fiscal year 2025 net income of -$60,000, in fiscal year 2024 net income of -$7.2M, and in fiscal year 2023 net income of -$8.8M. FairStock's Lynch category is none because the company lost money in each of the last three years. At the 2026-10-13 close of $7.38, FairStock shows a P/E of -9.71, P/B of 3.00, ROE of -22.04%, ROCE of 0.42%, D/E of 1.74, TTM free cash flow of -$40.4M, and FCF yield of -25.8%. The Altman Z-Score of 0.51 and EV/EBITDA of 36.30 suggest financial fragility and a full valuation. The Piotroski F-Score of 7/9 and positive quarterly profits are hopeful, but a coffee chain in a competitive restaurant industry with negative cash flow and high leverage does not offer the certainty I require. I would want to see sustained profits, positive free cash flow, and lower debt before calling this a sound value.

In plain English: Black Rock Coffee Bar runs drive-thru coffee shops in the U.S. Sales are growing and the latest quarter showed a small profit, but the company has a history of losses and is burning cash. At the recent share price of $7.38, the stock does not look cheap compared with its current profits and cash flow.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer