BORQS TECHNOLOGIES, INC.
BRQSF · Technology · $3.2M mkt cap · FY2017 filings · No moat ·
Doesn't clear the bar
The five investor questions
2015–2017 (latest 3 aligned FYs; v3 window cap 5): revenue $75.1M to $154M, increasing; diluted EPS -0.07 to -1.51, 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 20.9% over 3y, stable.
Not enough years of ROIC data to score returns on capital.
Net debt/EBITDA n/ax, interest coverage -4x.
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. conservative owner-earnings floor
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
- Owner earnings (normalized)
- $3.8M
- Owner-earnings floor / share
- $1.37
- Capped-growth comparison / share
- $1.37
- Recent price
- $0.10
- Price vs. owner-earnings floor
- 92% below owner-earnings floor
What today’s price assumes: owner earnings shrinking ~40%/yr over 5 years. The floor assumes owner earnings stay flat (0% growth). The market may be pricing in decline — see the revenue trend above.
How to read this
We solve for the constant annual change in owner earnings that would make the five-year floor equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.
This floor assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.
Cohort context: median current price is 232% above the floor across 48 of the current top 50 companies by Moat Score with both values.
Score records captured Jul 23, 2026.
Exactly which 50 companies?
FTNT, META, MEDP, IBEX, MSFT, GOOGL, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, MANH, VEEV, GRMN, SSD, MNST, DOCS, MCO, CPRT, NTAP, LRCX, NVDA, CORT, SFM, MPTI, ULTA, SN, RMD, ROL, PAYC, IRMD, INTU, DECK, MORN, LGCY, DAL, GWW, ISRG, MPWR, CTAS, LOPE, CMG, FAST, BKNG, ORLY, GGG, JKHY
Missing a usable price or floor: ANF, BKNG.
Model details under moat-index@3.0.0: zero-growth floor 11.1×, capped-growth comparison at no more than 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.
4 years of fundamentals
The business, in plain English
BORQS TECHNOLOGIES, INC. booked $154M of revenue in FY2017 in the Technology sector and kept 17.6% of it as gross profit — a thin-margin business by that measure. After every other cost, −8.1% of each revenue dollar reached the bottom line.
The balance sheet carried $30.7M of total debt in FY2017. Balance-Sheet Safety scores it 28/100.
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.
Gaps in a line mean that item isn’t in BRQSF’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
Breaks in the line mark methodology upgrades — readings scored by different engine versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars
- Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
- 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 BORQS TECHNOLOGIES, 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 BRQSF 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, BRQSF 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.
Technology context
#481 of 737 scored Technology companies, ranked by Moat Score.
Nearest peers by Moat Score
- #479WAST WASTE ENERGY CORP.38.2 out of 100, No moatNo moat
- #480RBBN RIBBON COMMUNICATIONS INC.38.0 out of 100, No moatNo moat
- #482PL Planet Labs PBC37.9 out of 100, No moatNo moat
- #483BELFA BEL FUSE INC /NJ37.7 out of 100, No moatNo moat
Compare BRQSF with its nearest peers →All Technology companies on the Index →
Common questions about BRQSF
- Does BORQS TECHNOLOGIES, INC. have an economic moat?
- Based on its FY2017 SEC filings, the Moat Index scores BORQS TECHNOLOGIES, INC. (BRQSF) 37.9 out of 100 — below the Shallow-moat bar, so no 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 60, pricing power 28, returns on capital not measurable from the filings, balance-sheet safety 28, capital discipline 36.
- Is BRQSF trading below the conservative owner-earnings estimate?
- The conservative owner-earnings floor is $1.37 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $0.10, that is 92% below owner-earnings floor. The model also publishes a capped-growth comparison, but the floor is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
- How has BRQSF's Moat Score changed over time?
- The record logs 11 readings since Jul 17, 2026; the latest reads 37.9 out of 100 (no moat). No tier changes on record yet. (Methodology upgrades on Jul 20, 2026, Jul 23, 2026 re-based the score; readings across engine versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.