Does BRINK’S CO have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores BRINK’S CO (BCO) 51.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 39, returns on capital 56, balance-sheet safety 17, capital discipline 100.

Is BCO stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $102.35 per share versus a recent price of $120.12 — 17% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has BCO's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 51.7 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

BRINK’S CO

BCO · Industrials · $4.9B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power39

Median gross margin 23.0% over 10y, very stable.

Returns on capital56

Median ROIC 10.6%, above the 9% hurdle in 90% of years.

Balance-sheet safety17

Net debt/EBITDA 2.8x, interest coverage 2x.

Capital discipline100

Owner earnings +20.4%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

17% above value

Owner earnings (normalized): $233.7M
Est. intrinsic value / share: $102.35
Recent price: $120.12
Discount to value: 17% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

19 years of fundamentals

The business, in plain English

BRINK’S CO booked $5.3B of revenue in FY2025 in the Industrials sector and kept 25.8% of it as gross profit — a moderate-margin business by that measure. After every other cost, 3.8% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $3.2B (FY2008) to $5.3B (FY2025) — about 3.0% a year compounded over 17 years.

It earned 13.8% on invested capital in FY2025, with a median of 12.6% across 18 filed years. The Returns on Capital filter above scores it 56/100.

The balance sheet carried $4.2B of total debt in FY2025 against $287.4M of owner earnings — roughly 14.7 years of owner earnings to retire it all. Balance-Sheet Safety scores it 17/100.

The share count fell 14.2% between FY2009 and FY2025 — management has been retiring shares, which concentrates each remaining owner's claim. Capital Discipline scores it 100/100.

Put together: Capital Discipline is the strongest of the four filters (100/100) and Balance-Sheet Safety the weakest (17/100), which is how BCO lands at 52/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$5.3B FY2025

Gross marginRevenue kept after cost of goods25.8% FY2025

Return on invested capitalOperating profit on the capital employed13.8% FY2025

Owner earningsCash an owner could take out$287.4M FY2025

Gaps in a line mean that item isn’t in BCO’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale51.7 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — BCO has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Industrials context

#101 of 309 scored Industrials companies, ranked by Moat Score.

Nearest peers by Moat Score

#99JBI JANUS INTERNATIONAL GROUP, INC.52.1 out of 100, Shallow moatShallow moat
#100GLGI GREYSTONE LOGISTICS, INC.51.8 out of 100, Shallow moatShallow moat
#102ZWS ZURN ELKAY WATER SOLUTIONS CORPORATION51.7 out of 100, Shallow moatShallow moat
#103ACU ACME UNITED CORP51.2 out of 100, Shallow moatShallow moat

Compare BCO with its nearest peers →All Industrials companies on the Index →

Common questions about BCO

Does BRINK’S CO have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores BRINK’S CO (BCO) 51.7 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 39, returns on capital 56, balance-sheet safety 17, capital discipline 100.
Is BCO stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $102.35 per share versus a recent price of $120.12 — 17% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has BCO's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 51.7 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell BCO. See the disclaimer.