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Side-by-side financial comparison of BRC Inc. (BRCC) and PHOTRONICS INC (PLAB). Click either name above to swap in a different company.
PHOTRONICS INC is the larger business by last-quarter revenue ($210.4M vs $112.7M, roughly 1.9× BRC Inc.). PHOTRONICS INC runs the higher net margin — 10.9% vs -2.8%, a 13.7% gap on every dollar of revenue. On growth, BRC Inc. posted the faster year-over-year revenue change (6.5% vs -5.5%). PHOTRONICS INC produced more free cash flow last quarter ($25.2M vs $-9.4M). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs -3.8%).
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.
Photronics, Inc. is an American semiconductor photomask manufacturer. It was the third largest photomask supplier globally as of 2009. Photronics is a member of the eBeam Initiative.
BRCC vs PLAB — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $210.4M |
| Net Profit | $-3.2M | $22.9M |
| Gross Margin | 32.1% | 33.7% |
| Operating Margin | -6.3% | 22.9% |
| Net Margin | -2.8% | 10.9% |
| Revenue YoY | 6.5% | -5.5% |
| Net Profit YoY | -29.3% | -32.4% |
| EPS (diluted) | $-0.02 | $0.39 |
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 | — | ||
| Q3 25 | $100.7M | $210.4M | ||
| Q2 25 | $94.8M | $211.0M | ||
| Q1 25 | $90.0M | $212.1M | ||
| Q4 24 | $105.9M | $222.6M | ||
| Q3 24 | $98.2M | $211.0M | ||
| Q2 24 | $89.0M | $217.0M | ||
| Q1 24 | $98.4M | $216.3M |
| Q4 25 | $-3.2M | — | ||
| Q3 25 | $-486.0K | $22.9M | ||
| Q2 25 | $-5.3M | $8.9M | ||
| Q1 25 | $-2.9M | $42.9M | ||
| Q4 24 | $-2.5M | $33.9M | ||
| Q3 24 | $-535.0K | $34.4M | ||
| Q2 24 | $-482.0K | $36.3M | ||
| Q1 24 | $548.0K | $26.2M |
| Q4 25 | 32.1% | — | ||
| Q3 25 | 36.9% | 33.7% | ||
| Q2 25 | 33.9% | 36.9% | ||
| Q1 25 | 36.1% | 35.6% | ||
| Q4 24 | 38.1% | 37.0% | ||
| Q3 24 | 42.1% | 35.6% | ||
| Q2 24 | 41.9% | 36.5% | ||
| Q1 24 | 42.9% | 36.6% |
| Q4 25 | -6.3% | — | ||
| Q3 25 | 0.5% | 22.9% | ||
| Q2 25 | -13.3% | 26.4% | ||
| Q1 25 | -6.0% | 24.6% | ||
| Q4 24 | -2.1% | 25.1% | ||
| Q3 24 | 1.1% | 24.7% | ||
| Q2 24 | 1.1% | 25.8% | ||
| Q1 24 | 4.0% | 26.6% |
| Q4 25 | -2.8% | — | ||
| Q3 25 | -0.5% | 10.9% | ||
| Q2 25 | -5.6% | 4.2% | ||
| Q1 25 | -3.2% | 20.2% | ||
| Q4 24 | -2.3% | 15.2% | ||
| Q3 24 | -0.5% | 16.3% | ||
| Q2 24 | -0.5% | 16.7% | ||
| Q1 24 | 0.6% | 12.1% |
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $0.00 | $0.39 | ||
| Q2 25 | $-0.07 | $0.15 | ||
| Q1 25 | $-0.04 | $0.68 | ||
| Q4 24 | $-0.03 | $0.54 | ||
| Q3 24 | $-0.01 | $0.55 | ||
| Q2 24 | $-0.01 | $0.58 | ||
| Q1 24 | $0.01 | $0.42 |
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 | $575.8M |
| Total DebtLower is stronger | $34.7M | $16.0K |
| Stockholders' EquityBook value | $45.7M | $1.1B |
| Total Assets | $209.2M | $1.8B |
| Debt / EquityLower = less leverage | 0.76× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | — | ||
| Q3 25 | $9.5M | $575.8M | ||
| Q2 25 | $4.3M | $558.4M | ||
| Q1 25 | $3.9M | $642.2M | ||
| Q4 24 | $6.8M | $640.7M | ||
| Q3 24 | $7.3M | $606.4M | ||
| Q2 24 | $9.6M | $559.9M | ||
| Q1 24 | $4.0M | $521.5M |
| Q4 25 | $34.7M | — | ||
| Q3 25 | $35.0M | $16.0K | ||
| Q2 25 | $72.7M | $19.0K | ||
| Q1 25 | $68.8M | $21.0K | ||
| Q4 24 | $65.1M | $25.0K | ||
| Q3 24 | $64.9M | $28.0K | ||
| Q2 24 | $66.5M | $2.5M | ||
| Q1 24 | $61.5M | $2.7M |
| Q4 25 | $45.7M | — | ||
| Q3 25 | $48.0M | $1.1B | ||
| Q2 25 | $10.1M | $1.1B | ||
| Q1 25 | $11.2M | $1.1B | ||
| Q4 24 | $13.2M | $1.1B | ||
| Q3 24 | $14.5M | $1.1B | ||
| Q2 24 | $14.9M | $1.0B | ||
| Q1 24 | $14.6M | $1.0B |
| Q4 25 | $209.2M | — | ||
| Q3 25 | $222.4M | $1.8B | ||
| Q2 25 | $225.3M | $1.7B | ||
| Q1 25 | $222.9M | $1.7B | ||
| Q4 24 | $227.4M | $1.7B | ||
| Q3 24 | $233.7M | $1.6B | ||
| Q2 24 | $229.9M | $1.6B | ||
| Q1 24 | $227.2M | $1.6B |
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.73× | 0.00× | ||
| Q2 25 | 7.19× | 0.00× | ||
| Q1 25 | 6.15× | 0.00× | ||
| Q4 24 | 4.94× | 0.00× | ||
| Q3 24 | 4.47× | 0.00× | ||
| Q2 24 | 4.46× | 0.00× | ||
| Q1 24 | 4.21× | 0.00× |
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 | $50.1M |
| Free Cash FlowOCF − Capex | $-9.4M | $25.2M |
| FCF MarginFCF / Revenue | -8.3% | 12.0% |
| Capex IntensityCapex / Revenue | 0.6% | 11.8% |
| Cash ConversionOCF / Net Profit | — | 2.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $64.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | — | ||
| Q3 25 | $6.4M | $50.1M | ||
| Q2 25 | $-3.3M | $31.5M | ||
| Q1 25 | $-4.1M | $78.5M | ||
| Q4 24 | $2.2M | $68.4M | ||
| Q3 24 | $1.9M | $75.1M | ||
| Q2 24 | $2.3M | $76.5M | ||
| Q1 24 | $4.9M | $41.5M |
| Q4 25 | $-9.4M | — | ||
| Q3 25 | $5.6M | $25.2M | ||
| Q2 25 | $-4.3M | $-29.1M | ||
| Q1 25 | $-5.3M | $43.3M | ||
| Q4 24 | $504.0K | $25.2M | ||
| Q3 24 | $-205.0K | $50.7M | ||
| Q2 24 | $147.0K | $56.5M | ||
| Q1 24 | $2.2M | $-1.8M |
| Q4 25 | -8.3% | — | ||
| Q3 25 | 5.5% | 12.0% | ||
| Q2 25 | -4.5% | -13.8% | ||
| Q1 25 | -5.9% | 20.4% | ||
| Q4 24 | 0.5% | 11.3% | ||
| Q3 24 | -0.2% | 24.0% | ||
| Q2 24 | 0.2% | 26.0% | ||
| Q1 24 | 2.2% | -0.8% |
| Q4 25 | 0.6% | — | ||
| Q3 25 | 0.8% | 11.8% | ||
| Q2 25 | 1.0% | 28.7% | ||
| Q1 25 | 1.3% | 16.6% | ||
| Q4 24 | 1.6% | 19.4% | ||
| Q3 24 | 2.2% | 11.6% | ||
| Q2 24 | 2.4% | 9.2% | ||
| Q1 24 | 2.8% | 20.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.19× | ||
| Q2 25 | — | 3.55× | ||
| Q1 25 | — | 1.83× | ||
| Q4 24 | — | 2.02× | ||
| Q3 24 | — | 2.18× | ||
| Q2 24 | — | 2.11× | ||
| Q1 24 | 8.97× | 1.59× |
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% |
PLAB
| High End Integrated Circuits | $53.6M | 25% |
| High End Flat Panel Displays | $53.5M | 25% |
| KR | $43.7M | 21% |
| Other | $42.1M | 20% |
| Mainstream Flat Panel Displays | $9.1M | 4% |
| Transferred At Point In Time | $8.4M | 4% |
