Forensic Analysis · Retail / Consumer Discretionary · as of Jun 28, 2026
Black Rock Coffee Bar, Inc. (BRCB)
A forensic read on Black Rock Coffee Bar, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
0.3
Altman Z-score
Clean
Earnings quality
2
Forensic signals
$407M
Market cap
Black Rock Coffee Bar, Inc. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is 0.2, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio.
What the filings flag
+47.8%Accruals ratio.Net operating assets grew +47.8% relative to their average in FY2025 — the accrual component of earnings. Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The cash-flow cross-check agrees: reported earnings ran in line with operating cash by -3% of net operating assets.
0%Return on invested capital.Return on invested capital is 0% and slipping from 3% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
Key fundamentals
Net Margin-0.0%
Debt / Equity0.59x
Free Cash Flow$-32.7M
Latest Revenue$200.3M
Return on Equity-0.1%
Revenue Growth YoY+24.5%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Black Rock Coffee Bar, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about BRCB's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown