The Brink's Company (BCO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+312.1%

$446.16

vs $108.26 price

Levered DCF

$319.14

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

1.64

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	24.63×	25.21×	46.29×	14.88×	30.78×	160×	156.34×	-99.46×
P/B	17.61×	22.23×	10.22×	5.68×	26.39×	28.17×	23.73×	19.75×
P/S	0.93×	0.82×	0.83×	0.56×	0.77×	0.98×	1.24×	0.94×
EV / EBITDA	8.48×	8.76×	9.45×	8.67×	9.91×	15.07×	15.66×	16.58×
Gross margin	25.8%	25.3%	24.0%	23.7%	23.0%	22.0%	23.1%	22.5%
Operating margin	11.2%	9.0%	8.7%	8.0%	8.4%	5.8%	6.4%	7.9%
Net margin	3.8%	3.3%	1.8%	3.8%	2.5%	0.4%	0.8%	-1.0%
Current ratio	1.51×	1.52×	1.43×	1.55×	1.4×	1.36×	1.23×	1.39×
Debt / equity	17.74×	23×	9.75×	8.34×	26.71×	21.97×	10.05×	9.33×
Interest coverage	2.4×	1.92×	2.09×	2.6×	3.16×	2.11×	2.54×	4.12×
Dividend yield	0.9%	1.0%	1.0%	1.5%	1.1%	0.8%	0.7%	0.9%
Payout ratio	21.2%	25.7%	45.2%	22.0%	35.4%	188.1%	103.1%	-91.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	71.9%	88.1%	22.1%	38.2%	85.5%	12.4%	15.1%	-20.0%
Return on invested capital	6.2%	5.8%	3.5%	6.0%	4.0%	1.5%	2.8%	-6.7%
Return on assets	2.7%	2.5%	1.3%	2.7%	1.9%	0.3%	0.8%	-1.0%
Free cash flow yield	8.9%	5.0%	12.3%	11.7%	9.6%	5.5%	4.5%	6.4%
Earnings yield	4.1%	4.0%	2.2%	6.7%	3.2%	0.4%	0.6%	-1.0%
Enterprise value	$7.6B	$7B	$6.8B	$5.3B	$5.8B	$5.8B	$6.2B	$4.5B
Net debt / EBITDA	2.99×	3.59×	3.77×	4.51×	4.39×	5.7×	4.1×	4.46×
Cash conversion cycle (days)	26	26	35	40	39	43	42	41