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BORQS TECHNOLOGIES, INC.

BRQSF · Technology · $3M mkt cap · FY2017 filings · No moat ·

Doesn't clear the bar

No moat
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The five investor questions

60

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%.

28

Median gross margin 20.9% over 3y, stable.

—

Not enough years of ROIC data to score returns on capital.

28

Net debt/EBITDA n/ax, interest coverage -4x.

36

Owner earnings changed trend unclear over up to the ten most recent annual observations.

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. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today
93% below value if growth stopped today
$3.8M
$1.37
$1.37
$0.10
93% below value if growth stopped today

A discount this large is often a warning rather than a bargain — the market may expect earnings to keep falling. See the revenue trend above.

How to read this

What today’s price assumes: owner earnings shrinking ~41%/yr over 5 years. The estimate assumes owner earnings stay flat (0% growth).

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.

Among the current top-score group, the median current price is 239% above the zero-growth estimate across 48 of the current top 50 companies by Moat Score with both values.

Score records captured Jul 26, 2026.

Exactly which 50 companies?

FTNT, META, MEDP, IBEX, MSFT, GOOGL, LULU, ANF, IDXX, TXRH, FHI, QLYS, FFIV, ADBE, LLY, 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, MRK, CMG, FAST, BKNG, ORLY

Missing a usable price or zero-growth estimate: ANF, BKNG.

Model details under moat-index@3.0.0: zero-growth multiple 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.

FY2014–FY2017 · 4 fiscal years, normalized from BRQSF’s SEC filings

Sales, as filed$154M FY2017
$0$100M2014201520162017
Revenue kept after cost of goods17.6% FY2017
0%10%20%2014201520162017
Standard ROIC or separately labeled Operating ROICROIC −9.7% FY2017

Not meaningful FY2016: invested capital is negative (cash exceeds debt + equity)

−10%−5%0%2014201520162017
Cash an owner could take out−$8.7M FY2017
$02014201520162017

The explained ROIC gaps have filed inputs but no meaningful positive invested-capital denominator. Other gaps mean the item is not in the 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.

Flagship explainer

How BORQS TECHNOLOGIES, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$154M · 100%Cost of revenue$127M · 82%Gross profit$27.2M · 18%Operating income−$7.9M · −5%Income before tax−$10.1M · −7%Income tax$2.2M · 1%Net income−$12.5M · −8%As of 2017-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$154M100%
Cost of revenue$127M82%
$27.2M18%
−$7.9M−5%
Income before tax−$10.1M−7%
Income tax$2.2M1%
−$12.5M−8%
Source: · event Dec 31, 2017 · retrieved Jul 26, 2026 · annual-row source set
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Flagship explainer

What BORQS TECHNOLOGIES, INC. owns — and owes

BORQS TECHNOLOGIES, INC.'s filing tags don't support a full breakdown — here's what is filed:

Table alternative
Filed lineValue% of assetsSource
Total assets$149M100%
Cash and equivalents$13.1M9%
$30.7M21%
Stockholders’ equity$47.1M32%
Source: · event Dec 31, 2017 · retrieved Jul 26, 2026 · annual-row source set

Flagship explainer

What drives BORQS TECHNOLOGIES, INC.’s return on equity?

ROE is five filed business factors multiplied together.

DuPont return on equity factor treeReturn on equity branches into tax burden, interest burden, operating margin, asset turnover, and the equity multiplier.Return on equity302%Tax burden124%net income ÷ pretax incomeInterest burden127%pretax ÷ operating incomeOperating margin−5%operating income ÷ revenueAsset turnover1.36×revenue ÷ average assetsEquity multiplier-27.43×average assets ÷ average equityAs of 2017-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com
DuPont source inputs
InputValueFiscal yearSource
−$12.5MFY2017
Income before tax−$10.1MFY2017
Operating income−$7.9MFY2017
$154MFY2017
Ending assets$149MFY2017
Beginning assets$78MFY2016
$47.1MFY2017
−$55.4MFY2016
Source:
  • SEC filingFiling detailsAccession 0001213900-18-003858
· event Dec 31, 2017 · retrieved Jul 26, 2026 · annual-row source set
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Flagship explainer

Where BORQS TECHNOLOGIES, INC.'s cash went

BORQS TECHNOLOGIES, INC.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:

Table alternative
Filed lineValue% of cash from operationsSource
Cash from operations−$14.9M−100%
Depreciation and amortization$4.7M31%
Source: · event Dec 31, 2017 · retrieved Jul 26, 2026 · annual-row source set

Curated 19-manager tier

Who reported holding BORQS TECHNOLOGIES, INC.

Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.

0 holding0 exited0 not holding0/19 resolved19 unavailable

Named manager positions and quarter-over-quarter changes
ManagerReported positionQuarter-over-quarterFiling accession
Abrams CapitalUnavailableComparison unavailableFiling unavailable
Akre CapitalUnavailableComparison unavailableFiling unavailable
Baupost GroupUnavailableComparison unavailableFiling unavailable
Berkshire HathawayUnavailableComparison unavailableFiling unavailable
Brave Warrior AdvisorsUnavailableComparison unavailableFiling unavailable
Dodge & CoxUnavailableComparison unavailableFiling unavailable
First EagleUnavailableComparison unavailableFiling unavailable
FundsmithUnavailableComparison unavailableFiling unavailable
Gardner Russo & QuinnUnavailableComparison unavailableFiling unavailable
Gates Foundation TrustUnavailableComparison unavailableFiling unavailable
Mairs & PowerUnavailableComparison unavailableFiling unavailable
Markel / Markel-GaynerUnavailableComparison unavailableFiling unavailable
Oakmark / Harris AssociatesUnavailableComparison unavailableFiling unavailable
Pershing SquareUnavailableComparison unavailableFiling unavailable
Polen CapitalUnavailableComparison unavailableFiling unavailable
Sequoia / Ruane CunniffUnavailableComparison unavailableFiling unavailable
Southeastern Asset ManagementUnavailableComparison unavailableFiling unavailable
Tweedy, BrowneUnavailableComparison unavailableFiling unavailable
Yacktman Asset ManagementUnavailableComparison unavailableFiling unavailable

Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.

Source: Filing source unavailable · event Jun 30, 2026 · retrieved Jul 26, 2026

Flagship explainer

What BORQS TECHNOLOGIES, INC. insiders reported

The complete Form 4 source snapshot retrieved on Aug 18, 2026 contains no transaction rows.

Verified empty: the retrieved source snapshot contains no transaction event.

Source snapshot retrieved 2026-08-18T07:00:02.345Z · SEC Form 4

Moat Score history

15 logged readings since Jul 17, 2026 · append-only, never rewritten

Moat Score over timeLast scored reading of each day, on the 0–100 scale37.9 / 100
0406080100WideNarrowShallowNo moatJul 20, 2026Jul 26, 2026

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

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

  1. Normalizer upgraded unstamped (version unknown)moat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
  2. Methodology upgraded moat-index@2.0.0moat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
  3. Methodology upgraded moat-index@1.2.0moat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

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

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.

No reported Form 4 transactions were found in the complete checked issuer window for BRQSF, –. The totals and cluster result below are arithmetic over that certified window.

$0
P purchases minus S sales only, Aug 18, 2025–Aug 18, 2026.
0 P / 0 S
Only P and S are included; awards, gifts, exercises, withholding, and other mechanics are excluded.
No
Requires at least 3 distinct insiders with P purchases.

Transaction-code histogram

Supporting event counts for the same certified window, Aug 18, 2025–Aug 18, 2026.

P
0
S
0
A
0
F
0
M
0
G
0
C
0
J
0
W
0

Retrieved .

Technology context

#485 of 744 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

  1. #483WAST WASTE ENERGY CORP.38.2No moat
  2. #484RBBN RIBBON COMMUNICATIONS INC.38.0No moat
  3. #486PL Planet Labs PBC37.9No moat
  4. #487BELFA BEL FUSE INC /NJ37.7No 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 allocation 36.
Is BRQSF trading below the conservative owner-earnings estimate?
The value if growth stopped today — a zero-growth baseline — 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 93% below value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate 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 15 readings since Jul 17, 2026; the latest reads 37.9 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

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