The company's financial leverage is increasing, with a debt-to-equity ratio of 1.36 and a current ratio of 0.87, suggesting a tightening liquidity buffer as total assets reached $347.2M.
| Total Current Assets | 30.46M | 40.12M | 19.45M | 21.37M |
| Cash & Short-Term Investments | 20.02M | 28.41M | 10.23M | 17.2M |
| Cash Only | 20.02M | 28.41M | 10.23M | 17.2M |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.69M | 3.45M | 4.3M | 777K |
| Days Sales Outstanding | 6.79 | 6.29 | 9.76 | 2.13 |
| Inventory | 3.26M | 2.9M | 2.06M | 1.46M |
| Days Inventory Outstanding | 7.35 | 7.47 | 9.19 | 7.38 |
| Other Current Assets | 4.5M | 0 | 0 | 0 |
| Total Non-Current Assets | 316.77M | 296.32M | 193.47M | 155.81M |
| Property, Plant & Equipment | 245.43M | 228.11M | 171.58M | 132.25M |
| Fixed Asset Turnover | 0.95x | 0.88x | 0.94x | 1.01x |
| Goodwill | 9.36M | 9.36M | 9.36M | 9.36M |
| Intangible Assets | 5.32M | 5.81M | 7.34M | 8.57M |
| Long-Term Investments | 0 | 0 | 5.18M | 5M |
| Other Non-Current Assets | 863K | 277K | 0 | 624K |
| Total Assets | 347.24M | 336.44M | 212.91M | 177.18M |
| Asset Turnover | 0.64x | 0.60x | 0.76x | 0.75x |
| Asset Growth % | 99.97% | 58.02% | 20.17% | - |
| Total Current Liabilities | 35.13M | 38.58M | 33.3M | 25.7M |
| Accounts Payable | 11.48M | 12.13M | 6.62M | 6.55M |
| Days Payables Outstanding | 26.15 | 31.26 | 29.61 | 33.14 |
| Short-Term Debt | 10.07M | 9.79M | 9.34M | 8.71M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 13.58M | 16.66M | 4.59M | 3.56M |
| Current Ratio | 0.87x | 1.04x | 0.58x | 0.83x |
| Quick Ratio | 0.77x | 0.96x | 0.52x | 0.77x |
| Cash Conversion Cycle | -12.02 | -17.5 | -10.66 | -23.63 |
| Total Non-Current Liabilities | 204.62M | 193.15M | 196.27M | 154.19M |
| Long-Term Debt | 135.69M | 25.92M | 89.27M | 78.28M |
| Capital Lease Obligations | 124.88M | 128.34M | 107M | 75.91M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 68.93M | 38.89M | 0 | 0 |
| Total Liabilities | 239.75M | 231.73M | 229.57M | 179.89M |
| Total Debt | 145.76M | 164.05M | 205.6M | 162.9M |
| Net Debt | 125.74M | 135.64M | 195.38M | 145.7M |
| Debt / Equity | 1.36x | 1.57x | - | - |
| Debt / EBITDA | 8.35x | 9.43x | 26.96x | 15.42x |
| Net Debt / EBITDA | 7.20x | 7.79x | 25.62x | 13.79x |
| Interest Coverage | -0.63x | -0.64x | -1.93x | 0.27x |
| Total Equity | 107.48M | 104.71M | -16.66M | -2.71M |
| Equity Growth % | 1303.3% | 728.45% | -514.34% | - |
| Book Value per Share | 6.12 | 6.15 | -1.09 | -0.18 |
| Total Shareholders' Equity | 47.27M | 45.67M | -16.66M | -3.15M |
| Common Stock | 0 | 0 | 0 | 0 |
| Retained Earnings | 318K | -60K | -257.84M | -226.51M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 60.21M | 59.03M | 0 | 436K |
Capital intensity and leverage
As reported in recent SEC filings, BRCB's total assets grew from $212.9M in 2024Q4 to $347.2M in 2026Q1, reflecting an aggressive expansion strategy that has significantly altered the company's balance sheet composition while maintaining a persistent reliance on external financing to support its growing physical footprint.
The rapid increase in total assets is primarily driven by the expansion of net PPE, which suggests a heavy commitment to fixed-asset-intensive growth. Investors should monitor whether this trajectory can eventually yield economies of scale, as the current expansion appears to be outpacing the company's ability to generate internal equity.
Based on the provided financial statements, BRCB's debt-to-equity ratio reached 1.36 in 2026Q1, indicating that the company is increasingly utilizing debt to fund its operations, which warrants further investigation into the sustainability of its interest coverage given the current razor-thin net margins.
The shift from a negative equity position in 2024Q4 to a positive $47.3M in 2026Q1 suggests some stabilization, yet the high debt load relative to equity remains a point of concern. This leverage profile implies that any disruption in store-level cash flow could quickly constrain the company's ability to service its obligations.
According to the latest quarterly data, net PPE accounts for the vast majority of BRCB's $347.2M in total assets, underscoring a business model that is heavily dependent on physical infrastructure to drive revenue rather than intangible or scalable digital assets.
The concentration of capital in PPE suggests that the company's growth is tethered to the successful execution of its real estate strategy. If the projected unit economics fail to materialize, the company may face significant impairment risks regarding these long-lived assets.
As evidenced by the 2026Q1 current ratio of 0.87, BRCB's liquidity position appears strained, with cash reserves of $20.0M providing a limited buffer against the operational volatility inherent in its high-frequency, labor-intensive retail model as reported in recent filings.
The fluctuation in the current ratio, which dipped as low as 0.58 in 2024Q4, suggests that the company frequently operates with minimal working capital headroom. This lack of liquidity may force management to prioritize short-term cash preservation over long-term strategic investments during periods of economic stress.
Quick answers to the most common questions about buying BRCB stock.
As of 2025, Black Rock Coffee Bar, Inc. Class A Common Stock (BRCB) had total assets of $336.4M including $40.1M in current assets.
Black Rock Coffee Bar, Inc. Class A Common Stock (BRCB) carries total debt of $164.1M, offset by $28.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Black Rock Coffee Bar, Inc. Class A Common Stock (BRCB) has total shareholders' equity (book value) of $45.7M ($6.15 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Black Rock Coffee Bar, Inc. Class A Common Stock (BRCB) reported a current ratio of 1.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.