BRCB
Black Rock Coffee Bar, Inc. Class A Common StockConsumer Defensive·Food Confectioners
$8.32
$150M market cap
Revenue
$109.1M
Free Cash Flow
$-16.3M
Rev Growth
+0.0%
FCF Margin
-14.9%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Black Rock Coffee Bar, Inc. is a holding company, which engages in the provision of caffeinated beverages. It offers roasted coffees, teas, smoothies, and flavorful energy drinks. The company was founded by Daniel Brand, Jeff Hernandez, Jake Spellmeyer, and Bryan Pereboom in 2008 and is headquartered in Scottsdale, AZ.
2-Year Price History
$6.81-75.3%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 55.5 | 7.3 | 3.8 | 0.4 | 6.8 | -9.4 | -16.2 | 20.0 | 145.8 | 17.6 | 9.2% | 17.3x | -- |
| Act | 2025-Q4 | 53.6 | 5.6 | 3.0 | 0.7 | 5.1 | -6.9 | -12.0 | 28.4 | 138.1 | 17.5 | 7.3% | 13.4x | -- |
Valuation & Metrics
Market Stats
Price$8.32
Market Cap$150M
Enterprise Value$276M
P/S Ratio1.4x
P/FCF--
EV/FCF--
FCF Margin (TTM)-14.9%
FCF Yield-10.9%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$109.1M
Net Income$1.0M
Free Cash Flow$-16.3M
Revenue Growth (YoY)+0.0%
EBITDA Margin11.8%
Net Margin0.9%
FCF Margin-14.9%
CapEx % of Revenue25.8%
SBC % of Revenue0.0%
ROIC8.3%
WC Change % Rev-0.2%
Interest Coverage15.3x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.7M
Days to Cover5.2
Change (vs Prior)-5.1%
Need at least 2 settlement dates for chart
Employees
Headcount161
Revenue / Employee$677,596
Gross Profit / Employee$178,907
Cash Runway
14.8months
WATCH
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
189.0%(-175.8% YoY)
103 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
31.4%(+19.2% YoY)
8 filers
Vanguard, iShares, SPDR
Market makers
0.2%(-4.1% YoY)
2 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| FMR LLC | $26.3M | $21.18 | +$5.9M | +$26.3M | -0.0% | $1.89T |
| MORGAN STANLEY | $23.5M | $20.35 | +$6.7M | +$23.5M | -0.3% | $1.65T |
| Bank of New York Mellon Corp | $15.0M | $20.04 | +$5.0M | +$15.0M | -0.2% | $543.21B |
| BlackRock, Inc.Passive | $13.7M | $21.69 | +$1.9M | +$13.7M | -0.2% | $5.69T |
| Woodline Partners LP | $12.3M | $19.99 | +$4.2M | +$12.3M | -0.1% | $26.43B |
| Point72 Asset Management, L.P. | $9.8M | $23.31 | −$2.0M | +$9.8M | +0.9% | $54.88B |
| EMERALD ADVISERS, LLC | $9.7M | $21.43 | +$1.8M | +$9.7M | -0.1% | $3.16B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $8.8M | $12.92 | +$8.8M | +$8.8M | — | $4.04T |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $8.5M | $23.60 | −$5.7M | +$8.5M | -0.5% | $297.48B |
| GILDER GAGNON HOWE & CO LLC | $7.8M | $23.86 | −$4.8M | +$7.8M | -1.8% | $8.34B |
| JENNISON ASSOCIATES LLC | $7.5M | $20.87 | +$2.8M | +$7.5M | +2.7% | $145.31B |
| AMERIPRISE FINANCIAL INC | $7.2M | $23.46 | +$227K | +$7.2M | -0.1% | $430.96B |
| RAYMOND JAMES FINANCIAL INC | $7.0M | $23.36 | −$339K | +$7.0M | -0.0% | $322.69B |
| EMERALD MUTUAL FUND ADVISERS TRUST | $5.9M | $20.75 | +$1.3M | +$5.9M | -0.5% | $2.06B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $4.9M | $22.25 | −$39K | +$4.9M | +2.3% | $1.61T |
| GOLDMAN SACHS GROUP INC | $4.9M | $23.67 | +$135K | +$4.9M | -0.2% | $760.93B |
| OBERWEIS ASSET MANAGEMENT INC/ | $4.7M | $12.92 | +$4.7M | +$4.7M | +0.4% | $3.39B |
| MARSHALL WACE, LLP | $4.6M | $17.68 | +$2.5M | +$4.6M | +0.6% | $92.71B |
| PEREGRINE CAPITAL MANAGEMENT LLC | $4.3M | $20.57 | +$771K | +$4.3M | -1.8% | $2.70B |
| SOROS FUND MANAGEMENT LLC | $4.2M | $23.86 | −$200K | +$4.2M | -0.1% | $5.53B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
-0.23%
avg per quarter
Holders (ex-self)
-0.22%
excl. this stock
Buyers (this Q)
-0.03%
49 buyers · $0.03B in
Sellers (this Q)
-0.27%
25 sellers · $0.09B out
alpha coverage: 95% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-1.7%
how holders react when this stock falls
On quiet Qs
+1.1%
−10% to +10% baseline
On rallies (+10%+)
-7.1%
how they react when this stock rises
Holders' portfolio flow this Q
+0.5%
inflows — adds are organic
Sellers' portfolio flow this Q
-2.3%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-7.4%
Holder mid (any stock)
-4.3%
Holder rally (any stock)
-7.1%
Biggest decreases this quarter
T. Rowe Price Investment Management, Inc.exited−$31.1MWELLINGTON MANAGEMENT GROUP LLPexited−$21.0MDRIEHAUS CAPITAL MANAGEMENT LLCexited−$7.5MRatan Capital Management LPexited−$7.1MWCM INVESTMENT MANAGEMENT/CAexited−$6.7MMASSACHUSETTS FINANCIAL SERVICES CO /MA/−$5.7Mα-0.5GILDER GAGNON HOWE & CO LLC−$4.8Mα-1.8NEXT CENTURY GROWTH INVESTORS LLCexited−$3.6MFEDERATED HERMES, INC.exited−$2.8MPoint72 Asset Management, L.P.−$2.0Mα+0.9
New buyers this quarter
Top-5 holders · 36.1%
FMR LLC--
MORGAN STANLEY--
Bank of New York Mellon Corp--
BlackRock, Inc.--
Woodline Partners LP--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
FMR LLC2.0MGILDER GAGNON HOWE & CO LLC603KT. Rowe Price Investment Management, Inc.—MORGAN STANLEY1.8MMASSACHUSETTS FINANCIAL SERVICES CO /MA/662KWELLINGTON MANAGEMENT GROUP LLP—Point72 Asset Management, L.P.756KInvesco Ltd.11KBank of New York Mellon Corp1.2MGOLDMAN SACHS GROUP INC378K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (4 analysts)$18.2511940.0%
Last Year (9 analysts)$24.0018850.0%
Current Price$8.32
Analyst Ratings
4
Buy: 4Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$369K
4 txns · 3 insiders · 56,203 sh
Sells ($, 12mo)
$0
2 txns · 2 insiders · 23,237,564 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$72.99M
6 txns · 6 insiders · 41,280,114 sh
Sells ($, 12mo)
$0
1 txn · 1 insider · 11,618,782 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-22 | BUY | Geyer Clay Howard | officer: Chief Operating Officer | 925 | $6.86 | $6K | $401K |
| 2026-05-21 | BUY | Geyer Clay Howard | officer: Chief Operating Officer | 45,080 | $6.51 | $293K | $375K |
| 2026-05-20 | BUY | Schmidt Michael Ryan | officer: Principal Accounting Officer | 7,100 | $6.98 | $50K | $50K |
| 2026-05-20 | BUY | Wegener-Beyer Jessica Michele | officer: Chief Marketing Officer | 3,098 | $6.46 | $20K | $20K |
| 2026-05-15 | SELL | Brand Daniel Jordan | director | 11,618,782 | $0.00 | $0 | $0 |
| 2026-05-15 | BUY | Cynosure Group, LLC | director, 10 percent owner: | 25,685,424 | $2.84 | $72.99M | $56.59M |
| 2026-05-15 | SELL | Hernandez Jeffrey Robert | director | 11,618,782 | $0.00 | $0 | $0 |
| 2026-05-15 | SELL | Viking Cake BR, LLC | other: Former 10% Owner | 11,618,782 | $0.00 | $0 | $0 |
| 2025-09-15 | BUY | Brand Daniel Jordan | director, 10 percent owner: | 3,118,938 | $0.00 | $0 | $0 |
| 2025-09-15 | BUY | Hernandez Jeffrey Robert | director, 10 percent owner: | 3,118,938 | $0.00 | $0 | $0 |
| 2025-09-15 | BUY | Pereboom Bryan Douglas | director, 10 percent owner: | 3,118,938 | $0.00 | $0 | $0 |
| 2025-09-15 | BUY | Spellmeyer Jacob Virgil | director, 10 percent owner: | 3,118,938 | $0.00 | $0 | $0 |
| 2025-09-15 | BUY | Viking Cake BR, LLC | 10 percent owner | 3,118,938 | $0.00 | $0 | $0 |
Order Flow (FINRA, ~3w lag)
9.1%retail-7.2pp
21.5%dark-5.6pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Black Rock Coffee Bar, Inc.: An Insiders' Cash-Out Vehicle Disguised as a Growth Story
Overall Risk
8/10
Fraud
3/10
Dilution
9/10
Insolvency
3/10
Earnings Overstated
5/10
Hidden Liabilities
8/10
Legal
4/10
Audit Warnings
1/10
Hidden Upside
2/10
Contextually Acceptable
4/10