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Side-by-side financial comparison of BRC Inc. (BRCC) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
BRC Inc. is the larger business by last-quarter revenue ($112.7M vs $97.9M, roughly 1.2× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs -2.8%, a 31.3% gap on every dollar of revenue. On growth, Safehold Inc. posted the faster year-over-year revenue change (6.5% vs 6.5%). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs 2.5%).
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.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
BRCC vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $97.9M |
| Net Profit | $-3.2M | $27.9M |
| Gross Margin | 32.1% | 98.6% |
| Operating Margin | -6.3% | 27.4% |
| Net Margin | -2.8% | 28.5% |
| Revenue YoY | 6.5% | 6.5% |
| Net Profit YoY | -29.3% | 7.1% |
| EPS (diluted) | $-0.02 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $100.7M | $96.2M | ||
| Q2 25 | $94.8M | $93.8M | ||
| Q1 25 | $90.0M | $97.7M | ||
| Q4 24 | $105.9M | $91.9M | ||
| Q3 24 | $98.2M | $90.7M | ||
| Q2 24 | $89.0M | $89.9M | ||
| Q1 24 | $98.4M | $93.2M |
| Q4 25 | $-3.2M | $27.9M | ||
| Q3 25 | $-486.0K | $29.3M | ||
| Q2 25 | $-5.3M | $27.9M | ||
| Q1 25 | $-2.9M | $29.4M | ||
| Q4 24 | $-2.5M | $26.0M | ||
| Q3 24 | $-535.0K | $19.3M | ||
| Q2 24 | $-482.0K | $29.7M | ||
| Q1 24 | $548.0K | $30.7M |
| Q4 25 | 32.1% | 98.6% | ||
| Q3 25 | 36.9% | 98.5% | ||
| Q2 25 | 33.9% | 99.1% | ||
| Q1 25 | 36.1% | 98.8% | ||
| Q4 24 | 38.1% | 98.8% | ||
| Q3 24 | 42.1% | 98.8% | ||
| Q2 24 | 41.9% | 98.8% | ||
| Q1 24 | 42.9% | 98.8% |
| Q4 25 | -6.3% | 27.4% | ||
| Q3 25 | 0.5% | 25.9% | ||
| Q2 25 | -13.3% | 25.5% | ||
| Q1 25 | -6.0% | 25.9% | ||
| Q4 24 | -2.1% | 24.6% | ||
| Q3 24 | 1.1% | 17.5% | ||
| Q2 24 | 1.1% | 26.7% | ||
| Q1 24 | 4.0% | 26.4% |
| Q4 25 | -2.8% | 28.5% | ||
| Q3 25 | -0.5% | 30.5% | ||
| Q2 25 | -5.6% | 29.8% | ||
| Q1 25 | -3.2% | 30.1% | ||
| Q4 24 | -2.3% | 28.3% | ||
| Q3 24 | -0.5% | 21.3% | ||
| Q2 24 | -0.5% | 33.0% | ||
| Q1 24 | 0.6% | 33.0% |
| Q4 25 | $-0.02 | $0.38 | ||
| Q3 25 | $0.00 | $0.41 | ||
| Q2 25 | $-0.07 | $0.39 | ||
| Q1 25 | $-0.04 | $0.41 | ||
| Q4 24 | $-0.03 | $0.36 | ||
| Q3 24 | $-0.01 | $0.27 | ||
| Q2 24 | $-0.01 | $0.42 | ||
| Q1 24 | $0.01 | $0.43 |
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 | $21.7M |
| Total DebtLower is stronger | $34.7M | $4.6B |
| Stockholders' EquityBook value | $45.7M | $2.4B |
| Total Assets | $209.2M | $7.2B |
| Debt / EquityLower = less leverage | 0.76× | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $21.7M | ||
| Q3 25 | $9.5M | $12.1M | ||
| Q2 25 | $4.3M | $13.9M | ||
| Q1 25 | $3.9M | $17.3M | ||
| Q4 24 | $6.8M | $8.3M | ||
| Q3 24 | $7.3M | $15.6M | ||
| Q2 24 | $9.6M | $13.4M | ||
| Q1 24 | $4.0M | $11.3M |
| Q4 25 | $34.7M | $4.6B | ||
| Q3 25 | $35.0M | $4.5B | ||
| Q2 25 | $72.7M | $4.4B | ||
| Q1 25 | $68.8M | $4.3B | ||
| Q4 24 | $65.1M | $4.3B | ||
| Q3 24 | $64.9M | $4.3B | ||
| Q2 24 | $66.5M | $4.2B | ||
| Q1 24 | $61.5M | $4.1B |
| Q4 25 | $45.7M | $2.4B | ||
| Q3 25 | $48.0M | $2.4B | ||
| Q2 25 | $10.1M | $2.4B | ||
| Q1 25 | $11.2M | $2.4B | ||
| Q4 24 | $13.2M | $2.3B | ||
| Q3 24 | $14.5M | $2.3B | ||
| Q2 24 | $14.9M | $2.3B | ||
| Q1 24 | $14.6M | $2.3B |
| Q4 25 | $209.2M | $7.2B | ||
| Q3 25 | $222.4M | $7.1B | ||
| Q2 25 | $225.3M | $7.1B | ||
| Q1 25 | $222.9M | $6.9B | ||
| Q4 24 | $227.4M | $6.9B | ||
| Q3 24 | $233.7M | $6.8B | ||
| Q2 24 | $229.9M | $6.8B | ||
| Q1 24 | $227.2M | $6.7B |
| Q4 25 | 0.76× | 1.90× | ||
| Q3 25 | 0.73× | 1.89× | ||
| Q2 25 | 7.19× | 1.87× | ||
| Q1 25 | 6.15× | 1.85× | ||
| Q4 24 | 4.94× | 1.84× | ||
| Q3 24 | 4.47× | 1.88× | ||
| Q2 24 | 4.46× | 1.81× | ||
| Q1 24 | 4.21× | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | $-9.4M | — |
| FCF MarginFCF / Revenue | -8.3% | — |
| Capex IntensityCapex / Revenue | 0.6% | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $47.8M | ||
| Q3 25 | $6.4M | $-1.4M | ||
| Q2 25 | $-3.3M | $28.0M | ||
| Q1 25 | $-4.1M | $8.9M | ||
| Q4 24 | $2.2M | $37.9M | ||
| Q3 24 | $1.9M | $8.3M | ||
| Q2 24 | $2.3M | $24.8M | ||
| Q1 24 | $4.9M | $-3.1M |
| Q4 25 | $-9.4M | — | ||
| Q3 25 | $5.6M | — | ||
| Q2 25 | $-4.3M | — | ||
| Q1 25 | $-5.3M | — | ||
| Q4 24 | $504.0K | — | ||
| Q3 24 | $-205.0K | — | ||
| Q2 24 | $147.0K | — | ||
| Q1 24 | $2.2M | — |
| Q4 25 | -8.3% | — | ||
| Q3 25 | 5.5% | — | ||
| Q2 25 | -4.5% | — | ||
| Q1 25 | -5.9% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | -0.2% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 2.2% | — |
| Q4 25 | 0.6% | — | ||
| Q3 25 | 0.8% | — | ||
| Q2 25 | 1.0% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 1.6% | — | ||
| Q3 24 | 2.2% | — | ||
| Q2 24 | 2.4% | — | ||
| Q1 24 | 2.8% | — |
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | 8.97× | -0.10× |
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% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
