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Side-by-side financial comparison of BRC Inc. (BRCC) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
SMITH & WESSON BRANDS, INC. is the larger business by last-quarter revenue ($124.7M vs $112.7M, roughly 1.1× BRC Inc.). SMITH & WESSON BRANDS, INC. runs the higher net margin — 1.5% vs -2.8%, a 4.4% gap on every dollar of revenue. On growth, BRC Inc. posted the faster year-over-year revenue change (6.5% vs -3.9%). SMITH & WESSON BRANDS, INC. produced more free cash flow last quarter ($16.3M vs $-9.4M). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs -4.8%).
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.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
BRCC vs SWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $124.7M |
| Net Profit | $-3.2M | $1.9M |
| Gross Margin | 32.1% | 24.3% |
| Operating Margin | -6.3% | 3.3% |
| Net Margin | -2.8% | 1.5% |
| Revenue YoY | 6.5% | -3.9% |
| Net Profit YoY | -29.3% | -53.6% |
| EPS (diluted) | $-0.02 | $0.04 |
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 | $124.7M | ||
| Q3 25 | $100.7M | $85.1M | ||
| Q2 25 | $94.8M | $140.8M | ||
| Q1 25 | $90.0M | $115.9M | ||
| Q4 24 | $105.9M | $129.7M | ||
| Q3 24 | $98.2M | $88.3M | ||
| Q2 24 | $89.0M | $159.1M | ||
| Q1 24 | $98.4M | $137.5M |
| Q4 25 | $-3.2M | $1.9M | ||
| Q3 25 | $-486.0K | $-3.4M | ||
| Q2 25 | $-5.3M | $8.6M | ||
| Q1 25 | $-2.9M | $2.1M | ||
| Q4 24 | $-2.5M | $4.5M | ||
| Q3 24 | $-535.0K | $-1.9M | ||
| Q2 24 | $-482.0K | $27.9M | ||
| Q1 24 | $548.0K | $7.9M |
| Q4 25 | 32.1% | 24.3% | ||
| Q3 25 | 36.9% | 25.9% | ||
| Q2 25 | 33.9% | 28.8% | ||
| Q1 25 | 36.1% | 24.1% | ||
| Q4 24 | 38.1% | 26.6% | ||
| Q3 24 | 42.1% | 27.4% | ||
| Q2 24 | 41.9% | 35.5% | ||
| Q1 24 | 42.9% | 28.7% |
| Q4 25 | -6.3% | 3.3% | ||
| Q3 25 | 0.5% | -3.5% | ||
| Q2 25 | -13.3% | 9.3% | ||
| Q1 25 | -6.0% | 4.1% | ||
| Q4 24 | -2.1% | 5.8% | ||
| Q3 24 | 1.1% | -1.7% | ||
| Q2 24 | 1.1% | 17.4% | ||
| Q1 24 | 4.0% | 8.2% |
| Q4 25 | -2.8% | 1.5% | ||
| Q3 25 | -0.5% | -4.0% | ||
| Q2 25 | -5.6% | 6.1% | ||
| Q1 25 | -3.2% | 1.8% | ||
| Q4 24 | -2.3% | 3.5% | ||
| Q3 24 | -0.5% | -2.1% | ||
| Q2 24 | -0.5% | 17.5% | ||
| Q1 24 | 0.6% | 5.7% |
| Q4 25 | $-0.02 | $0.04 | ||
| Q3 25 | $0.00 | $-0.08 | ||
| Q2 25 | $-0.07 | $0.19 | ||
| Q1 25 | $-0.04 | $0.05 | ||
| Q4 24 | $-0.03 | $0.10 | ||
| Q3 24 | $-0.01 | $-0.04 | ||
| Q2 24 | $-0.01 | $0.60 | ||
| Q1 24 | $0.01 | $0.17 |
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 | $22.4M |
| Total DebtLower is stronger | $34.7M | — |
| Stockholders' EquityBook value | $45.7M | $363.2M |
| Total Assets | $209.2M | $548.6M |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.3M | $22.4M | ||
| Q3 25 | $9.5M | $18.0M | ||
| Q2 25 | $4.3M | $25.2M | ||
| Q1 25 | $3.9M | $26.7M | ||
| Q4 24 | $6.8M | $39.1M | ||
| Q3 24 | $7.3M | $35.5M | ||
| Q2 24 | $9.6M | $60.8M | ||
| Q1 24 | $4.0M | $47.4M |
| 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 | $363.2M | ||
| Q3 25 | $48.0M | $364.4M | ||
| Q2 25 | $10.1M | $372.5M | ||
| Q1 25 | $11.2M | $366.9M | ||
| Q4 24 | $13.2M | $371.5M | ||
| Q3 24 | $14.5M | $380.0M | ||
| Q2 24 | $14.9M | $399.9M | ||
| Q1 24 | $14.6M | $376.4M |
| Q4 25 | $209.2M | $548.6M | ||
| Q3 25 | $222.4M | $554.6M | ||
| Q2 25 | $225.3M | $559.6M | ||
| Q1 25 | $222.9M | $578.9M | ||
| Q4 24 | $227.4M | $587.4M | ||
| Q3 24 | $233.7M | $571.3M | ||
| Q2 24 | $229.9M | $577.4M | ||
| Q1 24 | $227.2M | $570.6M |
| 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 | $27.3M |
| Free Cash FlowOCF − Capex | $-9.4M | $16.3M |
| FCF MarginFCF / Revenue | -8.3% | 13.1% |
| Capex IntensityCapex / Revenue | 0.6% | 8.8% |
| Cash ConversionOCF / Net Profit | — | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.7M | $27.3M | ||
| Q3 25 | $6.4M | $-8.1M | ||
| Q2 25 | $-3.3M | $40.8M | ||
| Q1 25 | $-4.1M | $-9.8M | ||
| Q4 24 | $2.2M | $-7.4M | ||
| Q3 24 | $1.9M | $-30.8M | ||
| Q2 24 | $2.3M | $43.7M | ||
| Q1 24 | $4.9M | $25.2M |
| Q4 25 | $-9.4M | $16.3M | ||
| Q3 25 | $5.6M | $-12.4M | ||
| Q2 25 | $-4.3M | $33.5M | ||
| Q1 25 | $-5.3M | $-16.1M | ||
| Q4 24 | $504.0K | $-10.7M | ||
| Q3 24 | $-205.0K | $-35.5M | ||
| Q2 24 | $147.0K | $38.2M | ||
| Q1 24 | $2.2M | $7.0M |
| Q4 25 | -8.3% | 13.1% | ||
| Q3 25 | 5.5% | -14.6% | ||
| Q2 25 | -4.5% | 23.8% | ||
| Q1 25 | -5.9% | -13.9% | ||
| Q4 24 | 0.5% | -8.3% | ||
| Q3 24 | -0.2% | -40.2% | ||
| Q2 24 | 0.2% | 24.0% | ||
| Q1 24 | 2.2% | 5.1% |
| Q4 25 | 0.6% | 8.8% | ||
| Q3 25 | 0.8% | 5.0% | ||
| Q2 25 | 1.0% | 5.2% | ||
| Q1 25 | 1.3% | 5.4% | ||
| Q4 24 | 1.6% | 2.5% | ||
| Q3 24 | 2.2% | 5.3% | ||
| Q2 24 | 2.4% | 3.5% | ||
| Q1 24 | 2.8% | 13.2% |
| Q4 25 | — | 14.22× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.73× | ||
| Q1 25 | — | -4.68× | ||
| Q4 24 | — | -1.63× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.57× | ||
| Q1 24 | 8.97× | 3.20× |
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% |
SWBI
Segment breakdown not available.
