Brilliant Earth Group, Inc.
BRLT · Consumer Discretionary · $17.1M mkt cap · FY2025 filings · Shallow moat ·
Doesn't clear the bar
The five investor questions
2022–2025: revenue 439882000.00 to 437483000.00, decreasing; diluted EPS 0.15 to -0.25, decreasing. Latest-filed diluted EPS remains usable for Business Trend, but an integer share-count change lacks enough evidence to confirm a comparable EPS basis; valuation growth therefore stays at 0%.
Median gross margin 53.3% over 7y, stable.
Not enough years of ROIC data to score returns on capital.
Net cash position — no leverage risk.
Owner earnings trend unclear, share count growing (dilution).
The returnsOnCapital component abstained: Not enough years of ROIC data to score returns on capital. The other four 20% weights were renormalized over the scored 80%.
Price vs. owner-earnings value range
- Owner earnings (normalized)
- $946000
- Value range / share
- $0.71–$0.71
- Conservative high estimate / share
- $0.71
- Recent price
- $1.16
- Price vs. high estimate
- 63% above high estimate
Conservative range under moat-index@2.0.0: low end 11.1×, high end capped at 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
8 years of fundamentals
The business, in plain English
Brilliant Earth Group, Inc. booked $437.5M of revenue in FY2025 in the Consumer Discretionary sector and kept 57.5% of it as gross profit — a high-margin business by that measure. After every other cost, −0.8% of each revenue dollar reached the bottom line.
Across the filed record, revenue grew from $201.3M (FY2019) to $437.5M (FY2025) — about 13.8% a year compounded over 6 years.
The balance sheet carried $0 of total debt in FY2025. Balance-Sheet Safety scores it 55/100.
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.
Not disclosed in BRLT’s filings for these years — we don’t estimate it.
Gaps in a line mean that item isn’t in BRLT’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
Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.
Track record
How Brilliant Earth Group, Inc.’s moat rated in each of the years we can reconstruct from its filings — scored only on what was knowable at the time — and what its price and returns did afterward. The score never saw a price; the two are joined only in hindsight, for education, not as a signal.
How to read this: each dot is what the engine would have scored BRLT on that December 31; the line below is its total-return price path (dividends reinvested) in the years since.
Two tracks, one timeline: the score has its own 0–100 scale (top), the price its own 100-based scale (bottom) — never a shared axis. The price path is a total-return (dividends reinvested) index built from the same data the forward returns use; gaps in the score line are years with no reconstructed rating (see the table for why). The Table view carries every value.
What followed, in the years it rated Wide
In the reconstructed history shown, BRLT did not rate Wide-moat in any year, so there is no wide-moat track record to report. That absence is itself the honest answer — we don’t manufacture a comparison where the rating never earned one.
Consumer Discretionary context
#245 of 482 scored Consumer Discretionary companies, ranked by Moat Score.
Nearest peers by Moat Score
- #243TDUP ThredUp Inc.46.8 out of 100, Shallow moatShallow moat
- #244IMKTA INGLES MARKETS, INCORPORATED46.7 out of 100, Shallow moatShallow moat
- #246SMP STANDARD MOTOR PRODUCTS, INC.46.4 out of 100, Shallow moatShallow moat
- #247MGM MGM Resorts International46.3 out of 100, Shallow moatShallow moat
Compare BRLT with its nearest peers →All Consumer Discretionary companies on the Index →
Common questions about BRLT
- Does Brilliant Earth Group, Inc. have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores Brilliant Earth Group, Inc. (BRLT) 46.5 out of 100 — a Shallow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 23, pricing power 78, returns on capital not measurable from the filings, balance-sheet safety 55, capital discipline 30.
- Is BRLT trading below the conservative owner-earnings estimate?
- The owner-earnings value range is $0.71–$0.71 per share. It capitalizes normalized owner earnings at a 9% rate; the low end assumes 0% growth and the high end uses 0% growth, capped at 4% and 18×. Versus a recent price of $1.16, that is 63% above high estimate relative to the high estimate. This is a conservative educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
- How has BRLT's Moat Score changed over time?
- The record logs 8 readings since Jul 17, 2026; the latest reads 46.5 out of 100 (shallow moat). No tier changes on record yet. (A methodology upgrade on Jul 20, 2026 re-based the score; readings across engine versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.