vs
Side-by-side financial comparison of BELLRING BRANDS, INC. (BRBR) and Borealis Foods Inc. (BRLS). Click either name above to swap in a different company.
BELLRING BRANDS, INC. is the larger business by last-quarter revenue ($537.3M vs $7.1M, roughly 75.6× Borealis Foods Inc.). BELLRING BRANDS, INC. runs the higher net margin — 8.1% vs -53.2%, a 61.4% gap on every dollar of revenue. On growth, BELLRING BRANDS, INC. posted the faster year-over-year revenue change (0.8% vs -12.0%). Over the past eight quarters, BELLRING BRANDS, INC.'s revenue compounded faster (4.2% CAGR vs -2.4%).
Bellring Brands, Inc. develops, manufactures and sells high-quality protein and functional nutritional products including ready-to-drink shakes, protein bars, powders and snacks. Its core brands Premier Protein, Dymatize and PowerBar serve health-conscious consumers and fitness enthusiasts across North America via retail, e-commerce and specialty channels.
Borealis Foods Inc is a food technology enterprise specializing in developing and producing high-quality plant-based protein products including plant-based meat alternatives. It mainly serves retail and food service customers across North America and Europe, focusing on delivering affordable, nutritious sustainable food options matching the taste of conventional animal-derived meat.
BRBR vs BRLS — Head-to-Head
Income Statement — Q1 2026 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $537.3M | $7.1M |
| Net Profit | $43.7M | $-3.8M |
| Gross Margin | 29.9% | 14.6% |
| Operating Margin | 14.6% | -27.1% |
| Net Margin | 8.1% | -53.2% |
| Revenue YoY | 0.8% | -12.0% |
| Net Profit YoY | -43.2% | 21.8% |
| EPS (diluted) | $0.36 | $-0.18 |
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 | $537.3M | — | ||
| Q3 25 | $648.2M | $7.1M | ||
| Q2 25 | $547.5M | $7.2M | ||
| Q1 25 | $588.0M | $6.8M | ||
| Q4 24 | $532.9M | $6.8M | ||
| Q3 24 | $555.8M | $8.1M | ||
| Q2 24 | $515.4M | $5.5M | ||
| Q1 24 | $494.6M | $7.9M |
| Q4 25 | $43.7M | — | ||
| Q3 25 | $59.6M | $-3.8M | ||
| Q2 25 | $21.0M | $-4.6M | ||
| Q1 25 | $58.7M | $-4.2M | ||
| Q4 24 | $76.9M | $-5.8M | ||
| Q3 24 | $71.7M | $-4.8M | ||
| Q2 24 | $73.7M | $-6.3M | ||
| Q1 24 | $57.2M | $-8.4M |
| Q4 25 | 29.9% | — | ||
| Q3 25 | 28.9% | 14.6% | ||
| Q2 25 | 35.4% | 7.2% | ||
| Q1 25 | 32.3% | 13.1% | ||
| Q4 24 | 37.5% | 3.7% | ||
| Q3 24 | 36.9% | 15.8% | ||
| Q2 24 | 36.8% | 7.7% | ||
| Q1 24 | 33.2% | 3.1% |
| Q4 25 | 14.6% | — | ||
| Q3 25 | 15.8% | -27.1% | ||
| Q2 25 | 8.2% | -46.7% | ||
| Q1 25 | 16.2% | -42.6% | ||
| Q4 24 | 21.6% | -68.4% | ||
| Q3 24 | 20.2% | -44.8% | ||
| Q2 24 | 21.7% | -94.8% | ||
| Q1 24 | 18.4% | -88.3% |
| Q4 25 | 8.1% | — | ||
| Q3 25 | 9.2% | -53.2% | ||
| Q2 25 | 3.8% | -64.0% | ||
| Q1 25 | 10.0% | -61.2% | ||
| Q4 24 | 14.4% | -85.3% | ||
| Q3 24 | 12.9% | -59.8% | ||
| Q2 24 | 14.3% | -115.0% | ||
| Q1 24 | 11.6% | -106.8% |
| Q4 25 | $0.36 | — | ||
| Q3 25 | $0.48 | $-0.18 | ||
| Q2 25 | $0.16 | $0.21 | ||
| Q1 25 | $0.45 | $-0.20 | ||
| Q4 24 | $0.59 | $-0.82 | ||
| Q3 24 | $0.54 | $-0.23 | ||
| Q2 24 | $0.56 | $0.29 | ||
| Q1 24 | $0.43 | $-0.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $64.1M | — |
| Total DebtLower is stronger | $1.2B | — |
| Stockholders' EquityBook value | $-510.7M | $-12.9M |
| Total Assets | $1.1B | $56.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.1M | — | ||
| Q3 25 | $71.8M | — | ||
| Q2 25 | $43.7M | — | ||
| Q1 25 | $28.1M | — | ||
| Q4 24 | $49.6M | — | ||
| Q3 24 | $70.8M | — | ||
| Q2 24 | $72.6M | — | ||
| Q1 24 | $79.3M | — |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.0B | — | ||
| Q1 25 | $953.7M | — | ||
| Q4 24 | $833.4M | — | ||
| Q3 24 | $833.1M | — | ||
| Q2 24 | $832.7M | — | ||
| Q1 24 | $832.4M | — |
| Q4 25 | $-510.7M | — | ||
| Q3 25 | $-453.9M | $-12.9M | ||
| Q2 25 | $-309.9M | $-9.2M | ||
| Q1 25 | $-254.1M | $-4.8M | ||
| Q4 24 | $-146.6M | $-695.9K | ||
| Q3 24 | $-205.9M | $5.1M | ||
| Q2 24 | $-243.2M | $9.9M | ||
| Q1 24 | $-247.7M | $16.2M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $941.0M | $56.3M | ||
| Q2 25 | $993.7M | $57.3M | ||
| Q1 25 | $947.5M | $58.4M | ||
| Q4 24 | $885.2M | $60.0M | ||
| Q3 24 | $837.0M | $61.9M | ||
| Q2 24 | $804.1M | $63.6M | ||
| Q1 24 | $765.0M | $70.3M |
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 | $-3.1M | $-190.6K |
| Free Cash FlowOCF − Capex | $-7.3M | — |
| FCF MarginFCF / Revenue | -1.4% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | -0.07× | — |
| TTM Free Cash FlowTrailing 4 quarters | $246.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.1M | — | ||
| Q3 25 | $169.1M | $-190.6K | ||
| Q2 25 | $40.3M | $-2.2M | ||
| Q1 25 | $48.2M | $-1.4M | ||
| Q4 24 | $3.0M | $-819.4K | ||
| Q3 24 | $40.1M | $-3.3M | ||
| Q2 24 | $69.0M | $-4.2M | ||
| Q1 24 | $16.3M | $-6.8M |
| Q4 25 | $-7.3M | — | ||
| Q3 25 | $168.1M | — | ||
| Q2 25 | $38.5M | — | ||
| Q1 25 | $47.6M | $-1.4M | ||
| Q4 24 | $1.7M | $-951.6K | ||
| Q3 24 | $38.9M | $-3.7M | ||
| Q2 24 | $68.9M | $-4.7M | ||
| Q1 24 | $16.0M | $-7.3M |
| Q4 25 | -1.4% | — | ||
| Q3 25 | 25.9% | — | ||
| Q2 25 | 7.0% | — | ||
| Q1 25 | 8.1% | -20.3% | ||
| Q4 24 | 0.3% | -14.1% | ||
| Q3 24 | 7.0% | -46.1% | ||
| Q2 24 | 13.4% | -86.7% | ||
| Q1 24 | 3.2% | -92.7% |
| Q4 25 | 0.8% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.1% | 0.2% | ||
| Q4 24 | 0.2% | 2.0% | ||
| Q3 24 | 0.2% | 5.6% | ||
| Q2 24 | 0.0% | 9.4% | ||
| Q1 24 | 0.1% | 7.0% |
| Q4 25 | -0.07× | — | ||
| Q3 25 | 2.84× | — | ||
| Q2 25 | 1.92× | — | ||
| Q1 25 | 0.82× | — | ||
| Q4 24 | 0.04× | — | ||
| Q3 24 | 0.56× | — | ||
| Q2 24 | 0.94× | — | ||
| Q1 24 | 0.28× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRBR
| Shakesandotherbeverages | $432.4M | 80% |
| Powders | $92.1M | 17% |
| Other Products | $12.8M | 2% |
BRLS
Segment breakdown not available.
