BRC Group Holdings, Inc.
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
Four documented substance findings work together. First the balance sheet: $1,717.9m of liabilities against $136.3m of equity, of which $124.2m is claimed ahead of common shareholders by the preferred — arithmetically almost nothing remains for common holders. Second the maturities: roughly $337.3m of notes due within twelve months against $178.0m of cash and $38.1m of quarterly cash flow. Third the quality of earnings: 41 percent of revenue is trading gains, roughly $250m of paper gains carry a quarterly profit of $222.2m, and equity turned positive not through earning but through swapping notes into shares at 21 percent dilution in four months. Fourth the audit verdict: internal control over financial reporting was expressly found ineffective as of December 31, 2025, with acknowledged material weaknesses and a preceding filing backlog of several months. Any one of these four layers would be survivable; together they describe substance risk. The scanner hook itself was not used to justify red — that the 1.2 rests on a wrong figure is a data error, not a finding about the company.
What the thesis turns on
Assessment: Opportunities & Risks
BRC Group Holdings — still trading as RILY — sits at rank 22 on our list because a data-set figure contradicts the company's own quarterly report: $224.1m against $38.1m of cash flow. Recalculated, the stock is not cheap but ordinarily valued. Underneath sits a heavily indebted investment bank whose quarterly profit consists of valuation moves well beyond 100 percent, whose equity turned positive through debt-for-equity exchanges, and whose internal control the auditor found ineffective. Not investment advice.
The hook does not hold
The displayed price-to-free-cash-flow ratio of 1.2 rests on operating cash flow of $224.1m for the first quarter of 2026. The quarterly report states $38.1m — in the cash flow statement and in the management discussion; the cash reconciliation supports it. Recalculated the ratio is about 8.9, making rank 22 of the U.S. selection an artifact (measured July 27, 2026).
Internal control faulted
BDO USA issued a clean opinion on the 2025 financial statements but found internal control over financial reporting ineffective as of December 31, 2025; the company acknowledges material weaknesses. The critical audit matter is the accounting for the new senior notes and related warrants from five exchange transactions.
Earnings from valuations
41 percent of quarterly revenue is trading gains ($145.1m of $352.1m; prior year −$16.2m). Together with $105.1m of investment gains, roughly $250m of paper gains carry quarterly net income of $222.2m — against $38.1m of actual cash flow.
Leverage and maturities
Liabilities of $1,717.9m against equity of $136.3m — roughly $12.60 of debt per dollar of equity. In the twelve months after March 31, 2026 about $337.3m of notes come due, against $178.0m of cash.
Backlog cleared, debt reduced
The filing backlog is over: 2025 annual report on March 31, 2026 and the quarterly report on May 7, 2026. Senior notes fell within one quarter from $1,301.8m to $1,171.5m and equity swung from −$171.5m to +$77.3m — though through conversion into shares, at roughly 21 percent more common shares in four months.
Worth Noting
Hook: in-house stock scanner, price-to-free-cash-flow ranking, U.S. selection (545 hits), rank 22 at a displayed value of 1.2 — measured July 27, 2026, identically on both brands. The lists are recalculated daily.
Market capitalization is calculated from the share count on the quarterly report cover page (37,130,592 shares as of May 5, 2026) rather than taken from the data set, which carries 40.19 million shares. Preferred shares are excluded.
No Altman Z as a solvency verdict: the formula is built for industrial companies and says nothing meaningful about an investment bank with a trading book and a $550.0m accumulated deficit. Our data set carries 3.92; the value is deliberately not used.
Risk of confusion: BRC Group Holdings, Inc. previously filed as B. Riley Financial, Inc. and before that as Great American Group, Inc. Alongside the common stock RILY, several preferred and note series are listed (RILYG, RILYL, RILYN, RILYP, RILYT, RILYZ); they are not part of the common market capitalization.
Stock Watch
This analysis is as of August 29, 2026. Stock Watch will tell you what's changed at RILY since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 3.70 $ to 10.70 $ · Last price: 6.00 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Financial Conglomerates
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| BRC Group Holdings, Inc. RILY | 0.2 | 0.4 | 2.6 | 25.8 | – | 77.9 | -20.1 |
| Orix Corp IX | 43.8 | 11.3 | 0.0 | 43.6 | 21.5 | 22.9 | 50.6 |
| Freedom Holding Corp FRHC | 10.4 | – | 10.0 | 84.8 | -1.2 | 7.8 | -2.4 |
| Voya Financial Inc VOYA | 9.1 | 15.4 | 0.0 | 55.6 | 14.3 | -6.9 | 34.1 |
| Hilltop Holdings Inc HTH | 2.2 | – | 0.0 | 100.0 | 16.9 | 5.5 | 16.2 |
| Teamshares Inc. TMS | 0.5 | – | 80.7 | 39.7 | 2.9 | 18.3 | -32.6 |
| Lendingtree Inc TREE | 0.4 | 2.3 | 5.4 | 96.4 | – | 24.1 | -65.7 |
| Median of companies shown | 2.2 | 6.8 | 2.6 | 55.6 | 14.3 | 18.3 | -2.4 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 190 | 49 | 22 | 1.17 | 80 | 150 | 265 |
| 2017 | 322 | 29 | 12 | 0.48 | -82 | 266 | 1,387 |
| 2018 | 423 | 45 | 16 | 0.58 | -105 | 259 | 1,958 |
| 2019 | 652 | 167 | 82 | 2.96 | -27 | 390 | 2,318 |
| 2020 | 834 | 276 | 205 | 7.74 | 58 | 539 | 2,663 |
| 2021 | 1,555 | 515 | 445 | 15.34 | 51 | 661 | 5,852 |
| 2022 | 994 | 30 | -160 | -5.67 | 7 | 447 | 6,111 |
| 2023 | 1,644 | 212 | -100 | -3.34 | 25 | 360 | 6,074 |
| 2024 | 579 | -623 | -764 | -25.19 | 264 | -456 | 1,783 |
| 2025 | 1,031 | 151 | 307 | 10.06 | -60 | -172 | 1,707 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -7.08 | – | 247 | -28.00 | -115.20 | 20 | 18 |
| 2025: Q1 | -0.25 | – | 194 | -43.40 | -5.10 | 0 | -7 |
| 2025: Q2 | 0.07 | – | 268 | -1.10 | 1.10 | -3 | -4 |
| 2025: Q3 | 1.81 | – | 235 | -4.90 | 31.00 | -26 | -28 |
| 2025: Q4 | 2.16 | – | 307 | 24.40 | 28.30 | 26 | 25 |
| 2026: Q1 | 5.31 | – | 451 | 132.10 | 47.30 | 224 | 223 |
| 2026: Q2 | 0.45 | 542.90 | 239 | -10.70 | 8.60 | -18 | -18 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 8 of our scanner strategies — each hit links to the scanner.
Growth
Momentum & Trend
Research
Risk & Weakness
Value & GARP
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
With these assumptions (discount rate 10.0%, terminal growth 2.5%), no growth rate between -20.0% and 60.0% per year explains today’s market value — the reverse calculation yields no meaningful figure here.
| Free cash flow (last twelve months) | $293.6M |
|---|---|
| Market cap | $227.0M |
| Free cash flow in year ten | – |
| Terminal value as a share of market value | – |
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Künstliche Intelligenz kommt in den ausgewerteten Berichten ausschließlich als Wettbewerbsgefahr vor: Das 10-K 2025 nennt sie als Vorteil größerer Wettbewerber, als möglichen Auslöser sinkender Markteintrittshürden und als Risiko für das eigene Geschäftsmodell. Kein KI-Produkt, kein KI-Umsatz, kein belegter eigener Einsatz.
View the full file — quotes, sources, reviewed filings
„Burgeoning interest in AI may increase our competition and disrupt our business model."
Das wachsende Interesse an künstlicher Intelligenz kann unseren Wettbewerb verschärfen und unser Geschäftsmodell stören.
10-K · 2026-03-31 · View SEC filing
„AI may lower barriers to entry in our industry and we may be unable to effectively compete with the products or services offered by new competitors."
Künstliche Intelligenz kann die Markteintrittshürden in unserer Branche senken, und wir sind möglicherweise nicht in der Lage, mit den Produkten oder Dienstleistungen neuer Wettbewerber wirksam zu konkurrieren.
10-K · 2026-03-31 · View SEC filing
Filings Reviewed: 10-K 2026-03-31 · 10-K 2025-09-19 · 10-Q 2026-05-07 · 10-Q 2026-01-14 · 8-K 2026-07-02 · 8-K 2026-06-15
Rated on July 27, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 1.2%
- More than 10% revenue growth is expected for the coming year no data
- Share count grows by less than 3% a year 2.7%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 71.0%
- Gross margin at 40% or higher and without meaningful erosion 65.0%
- Goodwill from acquisitions does not grow faster than revenue 23.0%
- Net debt below twice EBITDA 3.5 x EBITDA
- Operating cash flow covers the profits of the last three years 785 m
- Return on capital at 15% or higher, or up versus two years ago 10.2%
- Insiders hold at least 10% or are net buyers 30.9%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
2/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 20.6%
- Exp. sales growth 3Y > 5% –
- EBIT growth 10Y > 5% 13.4%
- Exp. EBIT growth 3Y > 5% –
- Net debt < 4x EBIT 8.2x
- EBIT positive, 10Y straight 9
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% –
- ROCE > 15% 10.2%
- Expected return > 10% –
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
BRC Group Holdings, Inc. erbringt über seine Tochtergesellschaften Finanzdienstleistungen in Nordamerika, Australien, Europa, dem Nahen Osten, Afrika, Asien und Lateinamerika.
- Employees
- 1,380
- Headquarters
- Los Angeles, CA
- Address
- 11100 Santa Monica Blvd., 90025 Los Angeles, United States
- Phone
- 310 966 1444
- Website
- brcgh.com
- IPO Date
- 08/02/2007
- ISIN
- US05580M1080
- Stock Split
- 101:100 on 11/25/2016
- Stock Split
- 1:20 on 06/03/2014
Management
| Name | Title | Birth Year |
|---|---|---|
| Bryant Richard Riley | Co-Founder, Chairman & Co-CEO | 1967 |
| Thomas J. Kelleher | Co-Founder, Co-CEO & Director | 1967 |
| Scott Yessner C.P.A. | Executive VP & CFO | 1970 |
| Andrew Thomas Moore | Chairman & Co-CEO of B. Riley Securities Inc | 1977 |
| Howard E. Weitzman | Senior VP & Chief Accounting Officer | 1962 |
| Aaron J. Goodwin CISSP | Chief Information Security Officer & CTO | – |
| Michael Biener | Chief Information Officer | – |
| Fred Nachum Knopf | Executive VP, General Counsel & Secretary | – |
| Nancy O. Feeney | Chief Human Resources Officer | – |
| Steven Smith | Senior Vice President of Financial Operations for B. Riley Retail Solutions | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/28/2026 BRC Group Holdings, Inc. (RILY): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
- 08/13/2026 BRC Group Holdings, Inc. (RILY): Entry into a Material Definitive Agreement; Financial Statements and Exhibits SEC ↗
- 08/06/2026 BRC Group Holdings, Inc. (RILY): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.