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Side-by-side financial comparison of BRC Inc. (BRCC) and CARRIAGE SERVICES INC (CSV). Click either name above to swap in a different company.
BRC Inc. is the larger business by last-quarter revenue ($112.7M vs $105.5M, roughly 1.1× CARRIAGE SERVICES INC). CARRIAGE SERVICES INC runs the higher net margin — 11.6% vs -2.8%, a 14.5% gap on every dollar of revenue. On growth, CARRIAGE SERVICES INC posted the faster year-over-year revenue change (8.0% vs 6.5%). CARRIAGE SERVICES INC produced more free cash flow last quarter ($6.2M vs $-9.4M). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs 1.0%).
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.
Jardine Cycle & Carriage Limited is the investment holding company of Jardines in Southeast Asia. It is currently 75% held by the conglomerate.
BRCC vs CSV — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $105.5M |
| Net Profit | $-3.2M | $12.3M |
| Gross Margin | 32.1% | 34.8% |
| Operating Margin | -6.3% | 23.3% |
| Net Margin | -2.8% | 11.6% |
| Revenue YoY | 6.5% | 8.0% |
| Net Profit YoY | -29.3% | 24.5% |
| EPS (diluted) | $-0.02 | $0.76 |
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 | $112.7M | $105.5M | ||
| Q3 25 | $100.7M | $102.7M | ||
| Q2 25 | $94.8M | $102.1M | ||
| Q1 25 | $90.0M | $107.1M | ||
| Q4 24 | $105.9M | $97.7M | ||
| Q3 24 | $98.2M | $100.7M | ||
| Q2 24 | $89.0M | $102.3M | ||
| Q1 24 | $98.4M | $103.5M |
| Q4 25 | $-3.2M | $12.3M | ||
| Q3 25 | $-486.0K | $6.6M | ||
| Q2 25 | $-5.3M | $11.7M | ||
| Q1 25 | $-2.9M | $20.9M | ||
| Q4 24 | $-2.5M | $9.9M | ||
| Q3 24 | $-535.0K | $9.9M | ||
| Q2 24 | $-482.0K | $6.3M | ||
| Q1 24 | $548.0K | $7.0M |
| Q4 25 | 32.1% | 34.8% | ||
| Q3 25 | 36.9% | 35.3% | ||
| Q2 25 | 33.9% | 35.2% | ||
| Q1 25 | 36.1% | 35.3% | ||
| Q4 24 | 38.1% | 34.4% | ||
| Q3 24 | 42.1% | 35.2% | ||
| Q2 24 | 41.9% | 36.2% | ||
| Q1 24 | 42.9% | 36.0% |
| Q4 25 | -6.3% | 23.3% | ||
| Q3 25 | 0.5% | 17.0% | ||
| Q2 25 | -13.3% | 23.5% | ||
| Q1 25 | -6.0% | 29.5% | ||
| Q4 24 | -2.1% | 21.6% | ||
| Q3 24 | 1.1% | 22.7% | ||
| Q2 24 | 1.1% | 18.0% | ||
| Q1 24 | 4.0% | 18.8% |
| Q4 25 | -2.8% | 11.6% | ||
| Q3 25 | -0.5% | 6.4% | ||
| Q2 25 | -5.6% | 11.5% | ||
| Q1 25 | -3.2% | 19.5% | ||
| Q4 24 | -2.3% | 10.1% | ||
| Q3 24 | -0.5% | 9.8% | ||
| Q2 24 | -0.5% | 6.1% | ||
| Q1 24 | 0.6% | 6.7% |
| Q4 25 | $-0.02 | $0.76 | ||
| Q3 25 | $0.00 | $0.41 | ||
| Q2 25 | $-0.07 | $0.74 | ||
| Q1 25 | $-0.04 | $1.34 | ||
| Q4 24 | $-0.03 | $0.62 | ||
| Q3 24 | $-0.01 | $0.63 | ||
| Q2 24 | $-0.01 | $0.40 | ||
| Q1 24 | $0.01 | $0.45 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.3M | $1.7M |
| Total DebtLower is stronger | $34.7M | — |
| Stockholders' EquityBook value | $45.7M | $254.8M |
| Total Assets | $209.2M | $1.3B |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $1.7M | ||
| Q3 25 | $9.5M | $1.2M | ||
| Q2 25 | $4.3M | $1.4M | ||
| Q1 25 | $3.9M | $4.6M | ||
| Q4 24 | $6.8M | $1.2M | ||
| Q3 24 | $7.3M | $1.3M | ||
| Q2 24 | $9.6M | $1.5M | ||
| Q1 24 | $4.0M | $1.7M |
| Q4 25 | $34.7M | — | ||
| Q3 25 | $35.0M | — | ||
| Q2 25 | $72.7M | — | ||
| Q1 25 | $68.8M | — | ||
| Q4 24 | $65.1M | — | ||
| Q3 24 | $64.9M | — | ||
| Q2 24 | $66.5M | — | ||
| Q1 24 | $61.5M | — |
| Q4 25 | $45.7M | $254.8M | ||
| Q3 25 | $48.0M | $242.1M | ||
| Q2 25 | $10.1M | $235.4M | ||
| Q1 25 | $11.2M | $223.1M | ||
| Q4 24 | $13.2M | $208.6M | ||
| Q3 24 | $14.5M | $198.1M | ||
| Q2 24 | $14.9M | $187.9M | ||
| Q1 24 | $14.6M | $179.6M |
| Q4 25 | $209.2M | $1.3B | ||
| Q3 25 | $222.4M | $1.3B | ||
| Q2 25 | $225.3M | $1.3B | ||
| Q1 25 | $222.9M | $1.3B | ||
| Q4 24 | $227.4M | $1.3B | ||
| Q3 24 | $233.7M | $1.3B | ||
| Q2 24 | $229.9M | $1.3B | ||
| Q1 24 | $227.2M | $1.3B |
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 7.19× | — | ||
| Q1 25 | 6.15× | — | ||
| Q4 24 | 4.94× | — | ||
| Q3 24 | 4.47× | — | ||
| Q2 24 | 4.46× | — | ||
| Q1 24 | 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 | $-8.7M | $14.1M |
| Free Cash FlowOCF − Capex | $-9.4M | $6.2M |
| FCF MarginFCF / Revenue | -8.3% | 5.9% |
| Capex IntensityCapex / Revenue | 0.6% | 7.5% |
| Cash ConversionOCF / Net Profit | — | 1.15× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $40.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $14.1M | ||
| Q3 25 | $6.4M | $24.7M | ||
| Q2 25 | $-3.3M | $8.1M | ||
| Q1 25 | $-4.1M | $13.8M | ||
| Q4 24 | $2.2M | $9.3M | ||
| Q3 24 | $1.9M | $20.9M | ||
| Q2 24 | $2.3M | $2.2M | ||
| Q1 24 | $4.9M | $19.7M |
| Q4 25 | $-9.4M | $6.2M | ||
| Q3 25 | $5.6M | $18.0M | ||
| Q2 25 | $-4.3M | $5.2M | ||
| Q1 25 | $-5.3M | $10.6M | ||
| Q4 24 | $504.0K | $4.9M | ||
| Q3 24 | $-205.0K | $16.2M | ||
| Q2 24 | $147.0K | $-1.4M | ||
| Q1 24 | $2.2M | $16.2M |
| Q4 25 | -8.3% | 5.9% | ||
| Q3 25 | 5.5% | 17.5% | ||
| Q2 25 | -4.5% | 5.1% | ||
| Q1 25 | -5.9% | 9.9% | ||
| Q4 24 | 0.5% | 5.0% | ||
| Q3 24 | -0.2% | 16.1% | ||
| Q2 24 | 0.2% | -1.4% | ||
| Q1 24 | 2.2% | 15.6% |
| Q4 25 | 0.6% | 7.5% | ||
| Q3 25 | 0.8% | 6.5% | ||
| Q2 25 | 1.0% | 2.8% | ||
| Q1 25 | 1.3% | 3.0% | ||
| Q4 24 | 1.6% | 4.5% | ||
| Q3 24 | 2.2% | 4.6% | ||
| Q2 24 | 2.4% | 3.5% | ||
| Q1 24 | 2.8% | 3.4% |
| Q4 25 | — | 1.15× | ||
| Q3 25 | — | 3.76× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | 8.97× | 2.83× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRCC
| Sales Channel Through Intermediary | $72.9M | 65% |
| Sales Channel Directly To Consumer | $34.4M | 31% |
| Outpost | $5.4M | 5% |
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
