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Forensic Analysis · Restaurants · as of Nov 11, 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.

F · Poor — capital at risk
Forensic grade
Distress
Financial health
0.3
Distress distance
2
Forensic signals
-0.1%
ROE

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Black Rock Coffee Bar, Inc. earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 0.2, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

0.3%
FY2025
Return on invested capital. Return on invested capital is 0.3% in the latest fiscal year.
FCF ($33M)
FY2025
Shareholder returns. Returned $4M to shareholders (buybacks + dividends) in FY2025, but free cash flow was ($33M) after capex — there was no free cash flow to fund the payout from at all, though operating cash flow alone was $2M — 184% of that. The entire return is coming from debt or cash reserves, not cash the business itself generated — a harder case than returns merely running ahead of free cash flow, since here there was none to run ahead of.

Key fundamentals

Latest Revenue$200.3M
Net Margin-0.0%
Free Cash Flow-$32.7M
Return on Equity-0.1%
Debt / Equity0.59x

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Data from SEC EDGAR public filings · metrics as of Nov 11, 2026. Forensic signals flag probability, not certainty.

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