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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and FLOWERS FOODS INC (FLO). Click either name above to swap in a different company.
FLOWERS FOODS INC is the larger business by last-quarter revenue ($1.2B vs $7.1M, roughly 172.7× Borealis Foods Inc.). FLOWERS FOODS INC runs the higher net margin — 3.2% vs -53.2%, a 56.4% gap on every dollar of revenue. On growth, FLOWERS FOODS INC posted the faster year-over-year revenue change (3.0% vs -12.0%). Over the past eight quarters, FLOWERS FOODS INC's revenue compounded faster (4.2% CAGR vs -2.4%).
Borealis Foods Inc is a food technology enterprise specializing in developing and producing high-quality plant-based protein products including plant-based meat alternatives. It mainly serves retail and food service customers across North America and Europe, focusing on delivering affordable, nutritious sustainable food options matching the taste of conventional animal-derived meat.
Flowers Foods, headquartered in Thomasville, Georgia, is a producer and marketer of packaged bakery foods in the United States. The company operates 44 bakeries across 19 states that produce a variety of products, including bread, buns, rolls, snack cakes, pastries, and tortillas. As of February 2013, Flowers Foods had grown to be the "second-largest baking company in the United States."
BRLS vs FLO — Head-to-Head
Income Statement — Q3 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $1.2B |
| Net Profit | $-3.8M | $39.5M |
| Gross Margin | 14.6% | — |
| Operating Margin | -27.1% | 5.4% |
| Net Margin | -53.2% | 3.2% |
| Revenue YoY | -12.0% | 3.0% |
| Net Profit YoY | 21.8% | -39.2% |
| EPS (diluted) | $-0.18 | $0.19 |
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 | — | $1.2B | ||
| Q3 25 | $7.1M | $1.2B | ||
| Q2 25 | $7.2M | $1.6B | ||
| Q1 25 | $6.8M | — | ||
| Q4 24 | $6.8M | $1.2B | ||
| Q3 24 | $8.1M | $1.2B | ||
| Q2 24 | $5.5M | $1.6B | ||
| Q1 24 | $7.9M | — |
| Q4 25 | — | $39.5M | ||
| Q3 25 | $-3.8M | $58.4M | ||
| Q2 25 | $-4.6M | $53.0M | ||
| Q1 25 | $-4.2M | — | ||
| Q4 24 | $-5.8M | $65.0M | ||
| Q3 24 | $-4.8M | $67.0M | ||
| Q2 24 | $-6.3M | $73.0M | ||
| Q1 24 | $-8.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | 14.6% | — | ||
| Q2 25 | 7.2% | — | ||
| Q1 25 | 13.1% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 15.8% | — | ||
| Q2 24 | 7.7% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | — | 5.4% | ||
| Q3 25 | -27.1% | 7.5% | ||
| Q2 25 | -46.7% | 5.5% | ||
| Q1 25 | -42.6% | — | ||
| Q4 24 | -68.4% | 7.6% | ||
| Q3 24 | -44.8% | 7.8% | ||
| Q2 24 | -94.8% | 6.4% | ||
| Q1 24 | -88.3% | — |
| Q4 25 | — | 3.2% | ||
| Q3 25 | -53.2% | 4.7% | ||
| Q2 25 | -64.0% | 3.4% | ||
| Q1 25 | -61.2% | — | ||
| Q4 24 | -85.3% | 5.5% | ||
| Q3 24 | -59.8% | 5.5% | ||
| Q2 24 | -115.0% | 4.6% | ||
| Q1 24 | -106.8% | — |
| Q4 25 | — | $0.19 | ||
| Q3 25 | $-0.18 | $0.28 | ||
| Q2 25 | $0.21 | $0.25 | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $-0.82 | $0.31 | ||
| Q3 24 | $-0.23 | $0.32 | ||
| Q2 24 | $0.29 | $0.34 | ||
| Q1 24 | $-0.49 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $16.7M |
| Total DebtLower is stronger | — | $1.8B |
| Stockholders' EquityBook value | $-12.9M | $1.4B |
| Total Assets | $56.3M | $4.3B |
| Debt / EquityLower = less leverage | — | 1.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $16.7M | ||
| Q3 25 | — | $11.0M | ||
| Q2 25 | — | $7.3M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $15.0M | ||
| Q3 24 | — | $6.9M | ||
| Q2 24 | — | $15.8M | ||
| Q1 24 | — | — |
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | $1.7B | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | — |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $-12.9M | $1.4B | ||
| Q2 25 | $-9.2M | $1.4B | ||
| Q1 25 | $-4.8M | — | ||
| Q4 24 | $-695.9K | $1.4B | ||
| Q3 24 | $5.1M | $1.4B | ||
| Q2 24 | $9.9M | $1.4B | ||
| Q1 24 | $16.2M | — |
| Q4 25 | — | $4.3B | ||
| Q3 25 | $56.3M | $4.3B | ||
| Q2 25 | $57.3M | $4.3B | ||
| Q1 25 | $58.4M | — | ||
| Q4 24 | $60.0M | $3.4B | ||
| Q3 24 | $61.9M | $3.4B | ||
| Q2 24 | $63.6M | $3.4B | ||
| Q1 24 | $70.3M | — |
| Q4 25 | — | 1.25× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.26× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.75× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | — | — |
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 | $-190.6K | $54.4M |
| Free Cash FlowOCF − Capex | — | $30.4M |
| FCF MarginFCF / Revenue | — | 2.5% |
| Capex IntensityCapex / Revenue | — | 2.0% |
| Cash ConversionOCF / Net Profit | — | 1.38× |
| TTM Free Cash FlowTrailing 4 quarters | — | $325.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $54.4M | ||
| Q3 25 | $-190.6K | $130.8M | ||
| Q2 25 | $-2.2M | $135.6M | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-819.4K | $113.9M | ||
| Q3 24 | $-3.3M | $63.3M | ||
| Q2 24 | $-4.2M | $105.1M | ||
| Q1 24 | $-6.8M | — |
| Q4 25 | — | $30.4M | ||
| Q3 25 | — | $100.0M | ||
| Q2 25 | — | $110.1M | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-951.6K | $88.6M | ||
| Q3 24 | $-3.7M | $35.4M | ||
| Q2 24 | $-4.7M | $71.8M | ||
| Q1 24 | $-7.3M | — |
| Q4 25 | — | 2.5% | ||
| Q3 25 | — | 8.0% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | -20.3% | — | ||
| Q4 24 | -14.1% | 7.4% | ||
| Q3 24 | -46.1% | 2.9% | ||
| Q2 24 | -86.7% | 4.6% | ||
| Q1 24 | -92.7% | — |
| Q4 25 | — | 2.0% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 1.6% | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 2.0% | 2.1% | ||
| Q3 24 | 5.6% | 2.3% | ||
| Q2 24 | 9.4% | 2.1% | ||
| Q1 24 | 7.0% | — |
| Q4 25 | — | 1.38× | ||
| Q3 25 | — | 2.24× | ||
| Q2 25 | — | 2.56× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.75× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 1.44× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
