BRC Group Holdings Inc. 6.00% Senior Notes Due 2028 (RILYT)

Key Financials

AI Analysis

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

I look first for a durable business and a margin of safety, and here the record is mixed. BRC's filed figures show a genuine turnaround: after net losses of $99.9 million in FY2023 and $764.3 million in FY2024, it earned $307.4 million in FY2025. In fiscal Q1 2026, net income was $213.3 million, or $6.57 per diluted share, but fiscal Q2 2026 fell to $20.5 million, or $0.45 per diluted share. Revenue also slipped from $986.0 million in FY2024 to $789.0 million in FY2025, and Q2 2026 revenue was $185.9 million. That tells me the profit recovery is real but not smooth; I would not call it a moat without evidence of repeatable, cash-generative earnings. The security is a 6.00% senior note due 2028, so the key question is credit quality, not equity upside. At $20.30 on 2026-10-16, within a 52-week range of $10.35 to $22.20, the note is near its high. Market cap is $816.1 million, but FairStock's P/E, P/B, ROE, ROCE and other return metrics are N/A here. I have no yield-to-maturity, interest-coverage, asset-coverage or balance-sheet data, so I cannot compute an adequate margin of safety. The Lynch category is TURNAROUND because it returned to profit after a loss within three years. A Graham-style investor would demand evidence that the improved earnings are durable and that the notes are well covered before paying a price near the high end of the range.

In plain English: BRC Group Holdings is a financial-services company whose 6.00% senior notes mature in 2028. The filed numbers show the business moved from large losses in fiscal 2024 to a profit in fiscal 2025 and fiscal Q2 2026, but revenue has shrunk and quarterly earnings are uneven. At $20.30, the note trades near the top of its 52-week range, and the provided data do not include standard valuation numbers for judging whether it is cheap or expensive.

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Data as of 2026-10-16 close · note generated 2026-10-20 · 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 Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K/A (period ended 2025-12-31) · FY2024 10-K/A (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