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Side-by-side financial comparison of BRC Inc. (BRCC) and FIRST MID BANCSHARES, INC. (FMBH). Click either name above to swap in a different company.
BRC Inc. is the larger business by last-quarter revenue ($112.7M vs $88.2M, roughly 1.3× FIRST MID BANCSHARES, INC.). FIRST MID BANCSHARES, INC. runs the higher net margin — 26.8% vs -2.8%, a 29.7% gap on every dollar of revenue. On growth, BRC Inc. posted the faster year-over-year revenue change (6.5% vs 3.4%). FIRST MID BANCSHARES, INC. produced more free cash flow last quarter ($124.0M vs $-9.4M). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs 5.0%).
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.
First Mid Bancshares Inc. is a U.S.-headquartered regional financial services holding company. It provides full-range retail and commercial banking products, wealth management, insurance solutions, and agricultural financing, mainly serving individual consumers, small and medium-sized enterprises, and agricultural clients across multiple Midwestern states including Illinois, Missouri, and Indiana.
BRCC vs FMBH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $88.2M |
| Net Profit | $-3.2M | $23.7M |
| Gross Margin | 32.1% | — |
| Operating Margin | -6.3% | 34.0% |
| Net Margin | -2.8% | 26.8% |
| Revenue YoY | 6.5% | 3.4% |
| Net Profit YoY | -29.3% | 23.5% |
| EPS (diluted) | $-0.02 | $0.98 |
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 | $88.2M | ||
| Q3 25 | $100.7M | $89.3M | ||
| Q2 25 | $94.8M | $87.5M | ||
| Q1 25 | $90.0M | $84.3M | ||
| Q4 24 | $105.9M | $85.3M | ||
| Q3 24 | $98.2M | $80.6M | ||
| Q2 24 | $89.0M | $79.2M | ||
| Q1 24 | $98.4M | $79.9M |
| Q4 25 | $-3.2M | $23.7M | ||
| Q3 25 | $-486.0K | $22.5M | ||
| Q2 25 | $-5.3M | $23.4M | ||
| Q1 25 | $-2.9M | $22.2M | ||
| Q4 24 | $-2.5M | $19.2M | ||
| Q3 24 | $-535.0K | $19.5M | ||
| Q2 24 | $-482.0K | $19.7M | ||
| Q1 24 | $548.0K | $20.5M |
| Q4 25 | 32.1% | — | ||
| Q3 25 | 36.9% | — | ||
| Q2 25 | 33.9% | — | ||
| Q1 25 | 36.1% | — | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | 41.9% | — | ||
| Q1 24 | 42.9% | — |
| Q4 25 | -6.3% | 34.0% | ||
| Q3 25 | 0.5% | 32.2% | ||
| Q2 25 | -13.3% | 34.4% | ||
| Q1 25 | -6.0% | 33.4% | ||
| Q4 24 | -2.1% | 29.7% | ||
| Q3 24 | 1.1% | 31.5% | ||
| Q2 24 | 1.1% | 33.7% | ||
| Q1 24 | 4.0% | 33.7% |
| Q4 25 | -2.8% | 26.8% | ||
| Q3 25 | -0.5% | 25.2% | ||
| Q2 25 | -5.6% | 26.8% | ||
| Q1 25 | -3.2% | 26.3% | ||
| Q4 24 | -2.3% | 22.5% | ||
| Q3 24 | -0.5% | 24.2% | ||
| Q2 24 | -0.5% | 24.9% | ||
| Q1 24 | 0.6% | 25.6% |
| Q4 25 | $-0.02 | $0.98 | ||
| Q3 25 | $0.00 | $0.94 | ||
| Q2 25 | $-0.07 | $0.98 | ||
| Q1 25 | $-0.04 | $0.93 | ||
| Q4 24 | $-0.03 | $0.81 | ||
| Q3 24 | $-0.01 | $0.81 | ||
| Q2 24 | $-0.01 | $0.82 | ||
| Q1 24 | $0.01 | $0.86 |
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 | — |
| Total DebtLower is stronger | $34.7M | $354.5M |
| Stockholders' EquityBook value | $45.7M | $958.7M |
| Total Assets | $209.2M | $8.0B |
| Debt / EquityLower = less leverage | 0.76× | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | — | ||
| Q3 25 | $9.5M | — | ||
| Q2 25 | $4.3M | — | ||
| Q1 25 | $3.9M | — | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $7.3M | — | ||
| Q2 24 | $9.6M | — | ||
| Q1 24 | $4.0M | — |
| Q4 25 | $34.7M | $354.5M | ||
| 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 | $958.7M | ||
| Q3 25 | $48.0M | $932.2M | ||
| Q2 25 | $10.1M | $894.1M | ||
| Q1 25 | $11.2M | $870.9M | ||
| Q4 24 | $13.2M | $846.4M | ||
| Q3 24 | $14.5M | $858.5M | ||
| Q2 24 | $14.9M | $813.6M | ||
| Q1 24 | $14.6M | $798.0M |
| Q4 25 | $209.2M | $8.0B | ||
| Q3 25 | $222.4M | $7.8B | ||
| Q2 25 | $225.3M | $7.7B | ||
| Q1 25 | $222.9M | $7.6B | ||
| Q4 24 | $227.4M | $7.5B | ||
| Q3 24 | $233.7M | $7.6B | ||
| Q2 24 | $229.9M | $7.6B | ||
| Q1 24 | $227.2M | $7.7B |
| Q4 25 | 0.76× | 0.37× | ||
| 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 | $130.9M |
| Free Cash FlowOCF − Capex | $-9.4M | $124.0M |
| FCF MarginFCF / Revenue | -8.3% | 140.6% |
| Capex IntensityCapex / Revenue | 0.6% | 7.8% |
| Cash ConversionOCF / Net Profit | — | 5.53× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $207.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $130.9M | ||
| Q3 25 | $6.4M | $33.0M | ||
| Q2 25 | $-3.3M | $7.7M | ||
| Q1 25 | $-4.1M | $47.9M | ||
| Q4 24 | $2.2M | $124.4M | ||
| Q3 24 | $1.9M | $33.1M | ||
| Q2 24 | $2.3M | $24.0M | ||
| Q1 24 | $4.9M | $29.0M |
| Q4 25 | $-9.4M | $124.0M | ||
| Q3 25 | $5.6M | $31.9M | ||
| Q2 25 | $-4.3M | $6.0M | ||
| Q1 25 | $-5.3M | $46.0M | ||
| Q4 24 | $504.0K | $119.5M | ||
| Q3 24 | $-205.0K | $32.0M | ||
| Q2 24 | $147.0K | $22.9M | ||
| Q1 24 | $2.2M | $27.6M |
| Q4 25 | -8.3% | 140.6% | ||
| Q3 25 | 5.5% | 35.8% | ||
| Q2 25 | -4.5% | 6.8% | ||
| Q1 25 | -5.9% | 54.5% | ||
| Q4 24 | 0.5% | 140.0% | ||
| Q3 24 | -0.2% | 39.7% | ||
| Q2 24 | 0.2% | 28.9% | ||
| Q1 24 | 2.2% | 34.5% |
| Q4 25 | 0.6% | 7.8% | ||
| Q3 25 | 0.8% | 1.2% | ||
| Q2 25 | 1.0% | 2.0% | ||
| Q1 25 | 1.3% | 2.3% | ||
| Q4 24 | 1.6% | 5.8% | ||
| Q3 24 | 2.2% | 1.4% | ||
| Q2 24 | 2.4% | 1.4% | ||
| Q1 24 | 2.8% | 1.9% |
| Q4 25 | — | 5.53× | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 2.16× | ||
| Q4 24 | — | 6.49× | ||
| Q3 24 | — | 1.70× | ||
| Q2 24 | — | 1.21× | ||
| Q1 24 | 8.97× | 1.42× |
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% |
FMBH
Segment breakdown not available.
