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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and BRC Inc. (BRCC). Click either name above to swap in a different company.
BRC Inc. is the larger business by last-quarter revenue ($112.7M vs $75.1M, roughly 1.5× SAUL CENTERS, INC.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs -2.8%, a 11.5% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs 6.5%). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs 6.2%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
BRC Inc., operating under the Black Rifle Coffee brand, is a U.S.-headquartered premium coffee and lifestyle brand. It sells roasted coffee beans, ready-to-drink coffee products, branded apparel, and outdoor gear, targeting primarily veteran, first responder, and outdoor enthusiast consumer segments across North America, via both e-commerce and physical retail channels.
BFS vs BRCC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $112.7M |
| Net Profit | $6.5M | $-3.2M |
| Gross Margin | — | 32.1% |
| Operating Margin | 65.4% | -6.3% |
| Net Margin | 8.7% | -2.8% |
| Revenue YoY | 10.6% | 6.5% |
| Net Profit YoY | -19.6% | -29.3% |
| EPS (diluted) | $0.15 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $112.7M | ||
| Q3 25 | $72.0M | $100.7M | ||
| Q2 25 | $70.8M | $94.8M | ||
| Q1 25 | $71.9M | $90.0M | ||
| Q4 24 | $67.9M | $105.9M | ||
| Q3 24 | $67.3M | $98.2M | ||
| Q2 24 | $66.9M | $89.0M | ||
| Q1 24 | $66.7M | $98.4M |
| Q4 25 | $6.5M | $-3.2M | ||
| Q3 25 | $10.5M | $-486.0K | ||
| Q2 25 | $10.7M | $-5.3M | ||
| Q1 25 | $9.8M | $-2.9M | ||
| Q4 24 | $8.1M | $-2.5M | ||
| Q3 24 | $14.5M | $-535.0K | ||
| Q2 24 | $14.4M | $-482.0K | ||
| Q1 24 | $13.6M | $548.0K |
| Q4 25 | — | 32.1% | ||
| Q3 25 | — | 36.9% | ||
| Q2 25 | — | 33.9% | ||
| Q1 25 | — | 36.1% | ||
| Q4 24 | — | 38.1% | ||
| Q3 24 | 73.6% | 42.1% | ||
| Q2 24 | 74.2% | 41.9% | ||
| Q1 24 | 72.8% | 42.9% |
| Q4 25 | 65.4% | -6.3% | ||
| Q3 25 | 69.1% | 0.5% | ||
| Q2 25 | 68.7% | -13.3% | ||
| Q1 25 | 66.5% | -6.0% | ||
| Q4 24 | 82.9% | -2.1% | ||
| Q3 24 | 72.8% | 1.1% | ||
| Q2 24 | 75.0% | 1.1% | ||
| Q1 24 | 72.4% | 4.0% |
| Q4 25 | 8.7% | -2.8% | ||
| Q3 25 | 14.6% | -0.5% | ||
| Q2 25 | 15.1% | -5.6% | ||
| Q1 25 | 13.6% | -3.2% | ||
| Q4 24 | 11.9% | -2.3% | ||
| Q3 24 | 21.5% | -0.5% | ||
| Q2 24 | 21.6% | -0.5% | ||
| Q1 24 | 20.4% | 0.6% |
| Q4 25 | $0.15 | $-0.02 | ||
| Q3 25 | $0.32 | $0.00 | ||
| Q2 25 | $0.33 | $-0.07 | ||
| Q1 25 | $0.29 | $-0.04 | ||
| Q4 24 | $0.22 | $-0.03 | ||
| Q3 24 | $0.48 | $-0.01 | ||
| Q2 24 | $0.48 | $-0.01 | ||
| Q1 24 | $0.45 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.7M | $4.3M |
| Total DebtLower is stronger | $468.4M | $34.7M |
| Stockholders' EquityBook value | $307.8M | $45.7M |
| Total Assets | $2.2B | $209.2M |
| Debt / EquityLower = less leverage | 1.52× | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $4.3M | ||
| Q3 25 | $11.8M | $9.5M | ||
| Q2 25 | $5.3M | $4.3M | ||
| Q1 25 | $6.5M | $3.9M | ||
| Q4 24 | $10.3M | $6.8M | ||
| Q3 24 | $7.2M | $7.3M | ||
| Q2 24 | $6.9M | $9.6M | ||
| Q1 24 | $7.1M | $4.0M |
| Q4 25 | $468.4M | $34.7M | ||
| Q3 25 | $1.6B | $35.0M | ||
| Q2 25 | $1.6B | $72.7M | ||
| Q1 25 | $1.5B | $68.8M | ||
| Q4 24 | $455.8M | $65.1M | ||
| Q3 24 | $1.5B | $64.9M | ||
| Q2 24 | $1.4B | $66.5M | ||
| Q1 24 | $1.4B | $61.5M |
| Q4 25 | $307.8M | $45.7M | ||
| Q3 25 | $316.6M | $48.0M | ||
| Q2 25 | $322.4M | $10.1M | ||
| Q1 25 | $328.4M | $11.2M | ||
| Q4 24 | $335.8M | $13.2M | ||
| Q3 24 | $341.8M | $14.5M | ||
| Q2 24 | $345.7M | $14.9M | ||
| Q1 24 | $347.1M | $14.6M |
| Q4 25 | $2.2B | $209.2M | ||
| Q3 25 | $2.2B | $222.4M | ||
| Q2 25 | $2.1B | $225.3M | ||
| Q1 25 | $2.1B | $222.9M | ||
| Q4 24 | $2.1B | $227.4M | ||
| Q3 24 | $2.1B | $233.7M | ||
| Q2 24 | $2.1B | $229.9M | ||
| Q1 24 | $2.0B | $227.2M |
| Q4 25 | 1.52× | 0.76× | ||
| Q3 25 | 5.02× | 0.73× | ||
| Q2 25 | 4.85× | 7.19× | ||
| Q1 25 | 4.70× | 6.15× | ||
| Q4 24 | 1.36× | 4.94× | ||
| Q3 24 | 4.37× | 4.47× | ||
| Q2 24 | 4.17× | 4.46× | ||
| Q1 24 | 4.06× | 4.21× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $99.8M | $-8.7M |
| Free Cash FlowOCF − Capex | — | $-9.4M |
| FCF MarginFCF / Revenue | — | -8.3% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | 15.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-13.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $-8.7M | ||
| Q3 25 | $20.6M | $6.4M | ||
| Q2 25 | $26.6M | $-3.3M | ||
| Q1 25 | $30.4M | $-4.1M | ||
| Q4 24 | $121.2M | $2.2M | ||
| Q3 24 | $26.5M | $1.9M | ||
| Q2 24 | $32.1M | $2.3M | ||
| Q1 24 | $33.8M | $4.9M |
| Q4 25 | — | $-9.4M | ||
| Q3 25 | — | $5.6M | ||
| Q2 25 | — | $-4.3M | ||
| Q1 25 | — | $-5.3M | ||
| Q4 24 | — | $504.0K | ||
| Q3 24 | $-28.3M | $-205.0K | ||
| Q2 24 | $-12.5M | $147.0K | ||
| Q1 24 | $-11.7M | $2.2M |
| Q4 25 | — | -8.3% | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | — | -4.5% | ||
| Q1 25 | — | -5.9% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | -42.1% | -0.2% | ||
| Q2 24 | -18.7% | 0.2% | ||
| Q1 24 | -17.6% | 2.2% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 0.8% | ||
| Q2 25 | — | 1.0% | ||
| Q1 25 | — | 1.3% | ||
| Q4 24 | — | 1.6% | ||
| Q3 24 | 81.5% | 2.2% | ||
| Q2 24 | 66.7% | 2.4% | ||
| Q1 24 | 68.3% | 2.8% |
| Q4 25 | 15.35× | — | ||
| Q3 25 | 1.97× | — | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | — | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | 8.97× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
BRCC
| Sales Channel Through Intermediary | $72.9M | 65% |
| Sales Channel Directly To Consumer | $34.4M | 31% |
| Outpost | $5.4M | 5% |
