Brink's (BCO)
Market Price (7/8/2026): $103.91 | Market Cap: $4.3 BilSector: Industrials | Industry: Security & Alarm Services
Brink's (BCO)
Market Price (7/8/2026): $103.91Market Cap: $4.3 BilSector: IndustrialsIndustry: Security & Alarm Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% Attractive yieldFCF Yield is 13% Low stock price volatilityVol 12M is 34% Megatrend and thematic driversMegatrends include Physical Security & Secure Logistics. Themes include Cash & Valuables Logistics, Secure Supply Chain Solutions, and Cash Management Services. | Weak multi-year price returns2Y Excs Rtn is -32%, 3Y Excs Rtn is -15% Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.54 | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 68% Key risksBCO key risks include [1] the global shift toward digital payments threatening its core cash management services and [2] heightened exposure to robberies and sophisticated security threats targeting its cash-in-transit operations. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10% |
| Attractive yieldFCF Yield is 13% |
| Low stock price volatilityVol 12M is 34% |
| Megatrend and thematic driversMegatrends include Physical Security & Secure Logistics. Themes include Cash & Valuables Logistics, Secure Supply Chain Solutions, and Cash Management Services. |
| Weak multi-year price returns2Y Excs Rtn is -32%, 3Y Excs Rtn is -15% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 10.54 |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 68% |
| Key risksBCO key risks include [1] the global shift toward digital payments threatening its core cash management services and [2] heightened exposure to robberies and sophisticated security threats targeting its cash-in-transit operations. |
Qualitative Assessment
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Brink's (BCO) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Mixed Fiscal Q1 2026 Earnings Performance and Cautious Q2 Outlook.
Brink's reported its fiscal Q1 2026 earnings on May 6, 2026 (for the period ending March 31, 2026), with diluted earnings per share (EPS) of $1.80, surpassing the consensus estimate of $1.59 by $0.21. Revenue also exceeded expectations, reaching $1.38 billion against an anticipated $1.36 billion, marking a 10.3% year-over-year increase. However, GAAP net income declined to $32.1 million from $51.6 million in the prior year, and basic EPS from continuing operations fell to $0.78 from $1.20 year-over-year. While the adjusted figures showed strength, the decline in GAAP profitability and management's Q2 2026 guidance, which included revenue of $1.37-$1.43 billion and acknowledged currency uncertainty, may have tempered investor enthusiasm and limited significant upward movement.
2. Shareholder Approval of NCR Atleos Acquisition Amidst Integration Period.
On June 30, 2026, Brink's shareholders overwhelmingly approved the acquisition of NCR Atleos, a significant step in the previously announced plan to expand Brink's ATM managed services and digital retail solutions. To finance this, Brink's amended and extended its credit agreement on March 31, 2026, increasing its capacity from $2.225 billion to $3.85 billion, including a $1.025 billion delayed draw term loan. Although the acquisition aims for $200 million in annual run-rate cost synergies and is expected to close by the end of fiscal Q1 2027, the substantial nature of the deal and the ongoing integration phase likely contributed to the stock remaining range-bound as investors await clearer execution and synergy realization.
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Brink's (BCO) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Mixed Fiscal Q1 2026 Earnings Performance and Cautious Q2 Outlook.
Brink's reported its fiscal Q1 2026 earnings on May 6, 2026 (for the period ending March 31, 2026), with diluted earnings per share (EPS) of $1.80, surpassing the consensus estimate of $1.59 by $0.21. Revenue also exceeded expectations, reaching $1.38 billion against an anticipated $1.36 billion, marking a 10.3% year-over-year increase. However, GAAP net income declined to $32.1 million from $51.6 million in the prior year, and basic EPS from continuing operations fell to $0.78 from $1.20 year-over-year. While the adjusted figures showed strength, the decline in GAAP profitability and management's Q2 2026 guidance, which included revenue of $1.37-$1.43 billion and acknowledged currency uncertainty, may have tempered investor enthusiasm and limited significant upward movement.
2. Shareholder Approval of NCR Atleos Acquisition Amidst Integration Period.
On June 30, 2026, Brink's shareholders overwhelmingly approved the acquisition of NCR Atleos, a significant step in the previously announced plan to expand Brink's ATM managed services and digital retail solutions. To finance this, Brink's amended and extended its credit agreement on March 31, 2026, increasing its capacity from $2.225 billion to $3.85 billion, including a $1.025 billion delayed draw term loan. Although the acquisition aims for $200 million in annual run-rate cost synergies and is expected to close by the end of fiscal Q1 2027, the substantial nature of the deal and the ongoing integration phase likely contributed to the stock remaining range-bound as investors await clearer execution and synergy realization.
3. Consistent "Strong Buy" Analyst Ratings with Significant Price Target Upside.
Throughout the period, Wall Street analysts maintained a generally positive outlook on Brink's, with a consensus rating of "Strong Buy" or "Moderate Buy". The average 12-month price target ranged from $143.00 to $154.00, implying a potential upside of approximately 45% to 51% from the stock's trading levels. This strong analyst sentiment provided a supportive floor for the stock, preventing a significant decline. However, despite the substantial projected upside, the absence of new, immediate catalysts for accelerated growth, beyond the long-term potential of the Atleos acquisition, meant the stock largely consolidated at current levels rather than experiencing a sharp upward trend.
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Stock Movement Drivers
Fundamental Drivers
The 0.5% change in BCO stock from 3/31/2026 to 7/7/2026 was primarily driven by a 10.6% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7072026 | Change |
|---|---|---|---|
| Stock Price ($) | 103.38 | 103.91 | 0.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,261 | 5,390 | 2.4% |
| Net Income Margin (%) | 3.8% | 3.3% | -11.9% |
| P/E Multiple | 21.5 | 23.8 | 10.6% |
| Shares Outstanding (Mil) | 42 | 41 | 0.7% |
| Cumulative Contribution | 0.5% |
Market Drivers
3/31/2026 to 7/7/2026| Return | Correlation | |
|---|---|---|
| BCO | 0.5% | |
| Market (SPY) | 15.0% | 40.1% |
| Sector (XLI) | 12.8% | 36.4% |
Fundamental Drivers
The -10.6% change in BCO stock from 12/31/2025 to 7/7/2026 was primarily driven by a -16.8% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7072026 | Change |
|---|---|---|---|
| Stock Price ($) | 116.21 | 103.91 | -10.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,146 | 5,390 | 4.7% |
| Net Income Margin (%) | 3.3% | 3.3% | 1.2% |
| P/E Multiple | 28.6 | 23.8 | -16.8% |
| Shares Outstanding (Mil) | 42 | 41 | 1.5% |
| Cumulative Contribution | -10.6% |
Market Drivers
12/31/2025 to 7/7/2026| Return | Correlation | |
|---|---|---|
| BCO | -10.6% | |
| Market (SPY) | 9.9% | 38.7% |
| Sector (XLI) | 17.9% | 37.2% |
Fundamental Drivers
The 17.5% change in BCO stock from 6/30/2025 to 7/7/2026 was primarily driven by a 7.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 6302025 | 7072026 | Change |
|---|---|---|---|
| Stock Price ($) | 88.44 | 103.91 | 17.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 5,022 | 5,390 | 7.3% |
| Net Income Margin (%) | 3.3% | 3.3% | 1.7% |
| P/E Multiple | 23.1 | 23.8 | 3.2% |
| Shares Outstanding (Mil) | 43 | 41 | 4.4% |
| Cumulative Contribution | 17.5% |
Market Drivers
6/30/2025 to 7/7/2026| Return | Correlation | |
|---|---|---|
| BCO | 17.5% | |
| Market (SPY) | 22.0% | 39.4% |
| Sector (XLI) | 24.9% | 37.0% |
Fundamental Drivers
The 58.0% change in BCO stock from 6/30/2023 to 7/7/2026 was primarily driven by a 35.9% change in the company's Net Income Margin (%).| (LTM values as of) | 6302023 | 7072026 | Change |
|---|---|---|---|
| Stock Price ($) | 65.75 | 103.91 | 58.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,647 | 5,390 | 16.0% |
| Net Income Margin (%) | 2.5% | 3.3% | 35.9% |
| P/E Multiple | 26.9 | 23.8 | -11.3% |
| Shares Outstanding (Mil) | 47 | 41 | 13.1% |
| Cumulative Contribution | 58.0% |
Market Drivers
6/30/2023 to 7/7/2026| Return | Correlation | |
|---|---|---|
| BCO | 58.0% | |
| Market (SPY) | 74.6% | 48.5% |
| Sector (XLI) | 77.0% | 49.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BCO Return | -8% | -17% | 66% | 7% | 27% | -10% | 54% |
| Peers Return | 12% | -5% | 13% | 24% | 28% | 4% | 101% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| BCO Win Rate | 67% | 42% | 67% | 50% | 67% | 43% | |
| Peers Win Rate | 54% | 42% | 66% | 50% | 69% | 50% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 57% | |
Max Drawdowns [4] | |||||||
| BCO Max Drawdown | -29% | -33% | -15% | -23% | -15% | -32% | |
| Peers Max Drawdown | -25% | -30% | -36% | -19% | -20% | -22% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NATL, DBD, ALLE, ADT. See BCO Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/7/2026 (YTD)
How Low Can It Go
| Event | BCO | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -13.0% | -18.8% |
| % Gain to Breakeven | 14.9% | 23.1% |
| Time to Breakeven | 34 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.2% | -24.5% |
| % Gain to Breakeven | 33.7% | 32.4% |
| Time to Breakeven | 123 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.5% | -33.7% |
| % Gain to Breakeven | 102.1% | 50.9% |
| Time to Breakeven | 1348 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -14.7% | -19.2% |
| % Gain to Breakeven | 17.2% | 23.8% |
| Time to Breakeven | 17 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -15.2% | -12.2% |
| % Gain to Breakeven | 18.0% | 13.9% |
| Time to Breakeven | 21 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -26.6% | -6.8% |
| % Gain to Breakeven | 36.2% | 7.3% |
| Time to Breakeven | 116 days | 15 days |
In The Past
Brink's's stock fell -13.0% during the 2025 US Tariff Shock. Such a loss loss requires a 14.9% gain to breakeven.
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Asset Allocation
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| Event | BCO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -25.2% | -24.5% |
| % Gain to Breakeven | 33.7% | 32.4% |
| Time to Breakeven | 123 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.5% | -33.7% |
| % Gain to Breakeven | 102.1% | 50.9% |
| Time to Breakeven | 1348 days | 140 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -26.6% | -6.8% |
| % Gain to Breakeven | 36.2% | 7.3% |
| Time to Breakeven | 116 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -30.4% | -17.9% |
| % Gain to Breakeven | 43.7% | 21.8% |
| Time to Breakeven | 752 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -35.9% | -15.4% |
| % Gain to Breakeven | 56.0% | 18.2% |
| Time to Breakeven | 212 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -42.9% | -53.4% |
| % Gain to Breakeven | 75.3% | 114.4% |
| Time to Breakeven | 851 days | 1085 days |
In The Past
Brink's's stock fell -13.0% during the 2025 US Tariff Shock. Such a loss loss requires a 14.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Brink's (BCO)
The Brink's Company (BCO) is a leading global provider of secure logistics and cash management solutions. The company specializes in the secure transportation of valuables, comprehensive cash handling services, and a broad range of integrated security services. Brink's operates internationally, with a significant presence across North America, Latin America, and Europe, serving critical needs for businesses and institutions that require robust protection and efficient management of their assets.
Brink's core offerings include armored vehicle transportation for a wide array of high-value items such as currency, precious metals, jewelry, securities, and high-tech devices. The company provides extensive ATM management services, encompassing cash replenishment, forecasting, and maintenance, alongside cash-in-transit services. Furthermore, Brink's offers vault outsourcing, money processing, and implements intelligent safe technologies for businesses, complemented by digital tools for cash tracking and inventory management. Its security solutions also extend to designing, installing, and monitoring advanced security systems like alarms, CCTV, and access controls, as well as providing security and guarding services for various commercial and public venues.
Brink's serves a diverse and critical customer base that relies on its expertise to manage and protect their financial and physical assets. Its primary clients include banks and financial institutions, retailers of all sizes, government agencies, mints, and jewelers. Essentially, any commercial operation that requires secure handling of cash and valuables, efficient cash flow management, or integrated security services for their physical operations constitutes a key customer for Brink's.
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Here are 1-3 brief analogies for The Brink's Company (BCO):
They're like the **FedEx or UPS for incredibly valuable items** like cash, gold, and diamonds, transported in armored vehicles.
Think of them as a highly secure, global **payment processor, but for physical cash and valuables** rather than digital transactions like PayPal or Stripe.
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- Secure Logistics & Cash-in-Transit: Provides armored vehicle transportation for cash, valuables, and sensitive goods.
- ATM Management: Offers comprehensive services for ATMs, including cash replenishment, forecasting, and maintenance.
- Cash Management & Processing: Delivers vault outsourcing, money processing, intelligent safe services, and related cash handling solutions.
- Cash Logistics Technology: Develops web-based tools for online cash tracking and inventory management.
- Financial Transaction Services: Provides bill payment, collection services, and offers prepaid and corporate debit cards.
- Security Systems & Monitoring: Designs, installs, and monitors physical security systems like alarms, CCTV, and access control.
- Security Guarding: Supplies security personnel for protection at various commercial and public venues.
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Major Customers of The Brink's Company (BCO)
The Brink's Company primarily sells its services to other companies rather than individuals. Based on the provided background information, its major customers fall into the following categories:
- Banks and financial institutions
- Retailers
- Government agencies
- Mints
- Jewelers
- Other commercial operations
Specific names of individual customer companies were not detailed in the provided company description.
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Mark Eubanks, President and Chief Executive Officer
Mark Eubanks has served as President and Chief Executive Officer of The Brink's Company since May 2022. Prior to this, he was the company's Executive Vice President and Chief Operating Officer from September 2021 to May 2022. Before joining Brink's, Mr. Eubanks was President, EMEA at Otis Worldwide Corporation from April 2019 to September 2020. Preceding his time at Otis, he was Group President, Electrical Products at Eaton Corporation from 2015 to 2019.
Kurt McMaken, Executive Vice President and Chief Financial Officer
Kurt McMaken joined Brink's as Executive Vice President and Chief Financial Officer on August 24, 2022. He oversees the company's financial, information technology, and sustainability functions. Before coming to Brink's, Mr. McMaken spent 20 years at Eaton Corporation plc in various financial and management capacities, most recently as Senior Vice President, Operations Finance and Transformation. He began his career in Audit & Business Advisory Services at PricewaterhouseCoopers LLP.
Adrian Button, Executive Vice President and President, Brink's North America
Adrian Button was appointed Executive Vice President and President, Brink's North America, effective February 16, 2026, bringing over 30 years of global operational leadership experience. He started his career as a mechanical engineering apprentice at the Royal Mint in Cardiff, Wales. He spent nearly two decades with General Electric, holding senior leadership roles across Aviation, Oil & Gas, and Industrial Solutions, managing multibillion-dollar P&Ls and leading major supply chain transformations. Subsequently, Mr. Button joined NCR Corporation, where he led the $2.6 billion Hardware Group and later served as Executive Vice President of Service and Product, overseeing a $5 billion P&L and a global team of more than 25,000 employees. Most recently, he was Senior Vice President of Operations at Carrier Corporation.
Elizabeth Galloway, Executive Vice President and Chief Human Resources Officer
Elizabeth Galloway leads Brink's global human resources function. Prior to joining Brink's, she served as Executive Vice President and Chief Human Resources Officer of Invitation Homes, a leader in the single-family home rental industry. Before Invitation Homes, Ms. Galloway held human resources leadership positions at At Home, PepsiCo, Owens Corning, and Marathon Petroleum Company.
Guillermo Peschard Mijares, Executive Vice President and President, Brink's Latin America (LATAM)
Guillermo Peschard Mijares leads Brink's Latin America operations. Before joining Brink's, he was Senior Vice President of Global Strategic Cost Transformation at PepsiCo, and prior to that, Chief Strategy and Transformation Officer for PepsiCo's Latin American business. Earlier in his career, Mr. Peschard Mijares worked at Walmart Mexico and Central America, where he served as General Manager & Senior Vice President of their Financial Services business and was Chairman of the Board of Banco Walmart.
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The widespread adoption of digital payment systems, including mobile payments, contactless transactions, and peer-to-peer payment applications, coupled with the emerging development of central bank digital currencies (CBDCs), poses a clear threat by reducing the global reliance on physical cash. This trend directly impacts the demand for Brink's core services, which are heavily centered around the secure transportation, management, and processing of physical currency and other valuables, including ATM services and vault operations.
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The Brink's Company (BCO) operates within several substantial addressable markets for its core products and services globally and across key regions.
Secure Transportation and Cash-in-Transit (CIT) Services
- The global Cash-in-Transit (CIT) Services market was valued at approximately USD 22.1 billion in 2024 and is projected to reach USD 41.6 billion by 2033.
- In North America, the CIT market size was approximately USD 6.2 billion in 2024.
- Europe's CIT market was valued at USD 5.8 billion in 2024.
- Latin America's CIT market size reached USD 3.2 billion in 2024.
- The Asia Pacific region's CIT market was USD 4.9 billion in 2024.
- The Middle East & Africa's CIT market was USD 2.0 billion in 2024.
Cash Management Services
-
ATM Managed Services: The global ATM Managed Services market size was valued at USD 9.04 billion in 2025 and is projected to grow to USD 20.85 billion by 2034.
- North America's ATM Managed Services market size is estimated at USD 3.47 billion in 2025 and is projected to reach approximately USD 8.19 billion by 2035.
- Smart Safes: The global smart safes market was valued at USD 3,735.11 million (approximately USD 3.74 billion) in 2024 and is projected to hit US$ 8,373.81 million by 2033.
- Smart Safe Cash Management: The global smart safe cash management market was valued at USD 29.48 billion in 2024 and is projected to grow to USD 62.99 billion by 2033.
Security and Guarding Services
- The global physical security market was estimated at USD 405 billion in 2023 and is projected to grow to nearly USD 500 billion by 2026.
- The global physical security services market was estimated at USD 319 billion in 2023, with guarding services accounting for 47% of this total.
- The global Manned Guarding Services market was valued at US$219.9 billion in 2024 and is projected to reach US$283.8 billion by 2030.
- The global security guarding services market size was $184.33 billion in 2025 and is expected to grow to $265.2 billion in 2030.
- The global Security Systems Market, which includes alarms, motion detectors, closed-circuit televisions, digital video recorders, and access control systems, was estimated at USD 77.4 billion in 2024 and is projected to reach USD 213.98 billion by 2035.
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Brink's (BCO) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives and market trends:
- Accelerated Growth in ATM Managed Services (AMS) and Digital Retail Solutions (DRS): Brink's is heavily prioritizing the expansion of its higher-margin, tech-enabled ATM Managed Services and Digital Retail Solutions segments. These services have demonstrated strong organic growth, exceeding 20% in the first quarter of 2025 and the fourth quarter of 2025, and are projected to constitute a significant portion of total revenue by 2025. This strategic shift towards digital solutions is a key component of the company's business transformation.
- Strategic Acquisitions, particularly NCR Atleos: The planned acquisition of NCR Atleos, valued at approximately $6.6 billion, is a transformative move anticipated to significantly expand Brink's market position and double its revenue size to around $10 billion. This acquisition is expected to enhance Brink's capabilities in ATM-as-a-Service (ATMaaS), generate substantial cost synergies, and be accretive to earnings per share.
- Increased Demand for Outsourced Cash Management and ATM Services: There is a growing trend among banks, financial institutions, and retailers to outsource their ATM operations and cash management to reduce costs and improve efficiency. Brink's, particularly with its enhanced digital solutions and the integration of NCR Atleos, is well-positioned to capitalize on this demand, offering comprehensive, end-to-end ATM outsourcing solutions and strengthening its role as a primary partner in the evolving cash ecosystem.
- Geographic Expansion and Market Penetration: Brink's continues to pursue a multi-faceted expansion strategy, focusing on strengthening its presence in crucial geographic markets and expanding into new territories. This includes targeted investments and strategic appointments to bolster regional growth, such as in Latin America.
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Capital Allocation Decisions (Last 3-5 Years)
Share Repurchases- The Brink's Company authorized a new $750 million share repurchase program on December 10, 2025, which will extend through December 31, 2027. This program complements a previous $500 million authorization that was set to expire at the end of 2025.
- Since 2022, Brink's has retired over seven million shares and returned more than $725 million to shareholders through a combination of dividends and share repurchases.
- In 2025, the company repurchased $209 million of its stock, contributing to an approximately 5% reduction in its diluted share count.
- Brink's plans to acquire NCR Atleos for $6.6 billion in cash and stock, involving the issuance of over 13 million new shares. This transaction is expected to result in current Brink's shareholders owning less than 80% of the combined entity.
- The company announced its intention to acquire NCR Atleos for $6.6 billion in a cash and stock transaction in February 2026. This acquisition is projected to double Brink's revenue and generate $200 million in annual run-rate synergies within three years.
- Acquisitions, net of cash acquired, amounted to $19.1 million in 2023 and $1.5 million in 2024.
- Transaction costs related to business acquisitions totaled $2.7 million in 2025.
- Capital expenditures were reported as $222.5 million in 2023 and $202.7 million in 2024.
- The last twelve months' (LTM) capital expenditure, as of October 2025, was $45.2 million.
- Capital expenditures are primarily focused on maintaining existing property, plant, and equipment, and supporting growth initiatives, particularly in ATM managed services (AMS) and digital retail solutions (DRS), as well as technology and systems investments.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 83.56 |
| Mkt Cap | 4.3 |
| Rev LTM | 4,420 |
| Op Inc LTM | 572 |
| FCF LTM | 544 |
| FCF 3Y Avg | 506 |
| CFO LTM | 728 |
| CFO 3Y Avg | 656 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.3% |
| Rev Chg 3Y Avg | 4.1% |
| Rev Chg Q | 6.5% |
| QoQ Delta Rev Chg LTM | 1.5% |
| Op Inc Chg LTM | 6.6% |
| Op Inc Chg 3Y Avg | 13.1% |
| Op Mgn LTM | 10.6% |
| Op Mgn 3Y Avg | 15.2% |
| QoQ Delta Op Mgn LTM | -0.4% |
| CFO/Rev LTM | 13.5% |
| CFO/Rev 3Y Avg | 15.0% |
| FCF/Rev LTM | 10.1% |
| FCF/Rev 3Y Avg | 11.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.3 |
| P/S | 0.8 |
| P/Op Inc | 7.5 |
| P/EBIT | 7.4 |
| P/E | 18.9 |
| P/CFO | 9.3 |
| Total Yield | 5.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 9.6% |
| D/E | 0.9 |
| Net D/E | 0.7 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 2.9% |
| 3M Rtn | 3.2% |
| 6M Rtn | -13.2% |
| 12M Rtn | 11.0% |
| 3Y Rtn | 62.9% |
| 1M Excs Rtn | 4.0% |
| 3M Excs Rtn | -11.1% |
| 6M Excs Rtn | -19.8% |
| 12M Excs Rtn | -8.4% |
| 3Y Excs Rtn | -14.5% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Cash and Valuables Management | 3,799 | 3,800 | 3,863 | 3,792 | 3,670 |
| Digital Retail Solutions (DRS) and Automated Teller Machines Managed Services(AMS) | 1,462 | 1,212 | 1,012 | 743 | 530 |
| Total | 5,261 | 5,012 | 4,875 | 4,536 | 4,200 |
| $ Mil | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|
| Global Markets | 160 | ||||
| Largest 5 Markets | 102 | ||||
| Venezuela operations | 16 | ||||
| Foreign currency transaction losses | 4 | ||||
| Payment Services | 2 | ||||
| Reconciliation of segment policies to GAAP | -2 | ||||
| Acquisitions and dispositions | -16 | ||||
| Reorganization and Restructuring | -30 | ||||
| U.S. and Mexican retirement plans | -32 | ||||
| General, administrative and other expenses | -60 | ||||
| Asia | 29 | 23 | |||
| Brazil | 24 | 34 | |||
| Canada | 11 | 13 | |||
| EMEA | 36 | 52 | 82 | ||
| France | 35 | 39 | |||
| Latin America | 76 | 91 | 150 | ||
| Mexico | 24 | 10 | |||
| PaymentServices | -7 | -5 | |||
| Reconciling Items | -185 | -308 | |||
| U.S. | 15 | 23 | |||
| Asia Pacific | 17 | ||||
| Non-segment | -81 | -89 | |||
| North America | 5 | 32 | |||
| International | 228 | ||||
| Total | 144 | 57 | -28 | 172 | 171 |
| $ Mil | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|
| Largest 5 Markets | 1,059 | ||||
| Global Markets | 508 | ||||
| Corporate items | 321 | ||||
| Payment Services | 56 | ||||
| Venezuela | 51 | ||||
| Asia | 100 | 109 | |||
| Brazil | 110 | 165 | |||
| Canada | 81 | 92 | |||
| EMEA | 275 | 308 | 673 | ||
| France | 240 | 245 | |||
| Latin America | 155 | 296 | 1,044 | ||
| Mexico | 229 | 259 | |||
| PaymentServices | 53 | 64 | |||
| Reconciling Items | 379 | 327 | |||
| U.S. | 325 | 327 | |||
| Asia Pacific | 108 | ||||
| Non-segment | 247 | 365 | |||
| North America | 427 | 480 | |||
| International | 1,708 | ||||
| Total | 1,995 | 1,947 | 2,192 | 2,498 | 2,554 |
Price Behavior
| Market Price | $103.91 | |
| Market Cap ($ Bil) | 4.3 | |
| First Trading Date | 01/03/1996 | |
| Distance from 52W High | -23.2% | |
| 50 Days | 200 Days | |
| DMA Price | $102.75 | $112.35 |
| DMA Trend | down | down |
| Distance from DMA | 1.1% | -7.5% |
| 3M | 1YR | |
| Volatility | 30.1% | 34.0% |
| Downside Capture | 92.06 | 120.81 |
| Upside Capture | 54.83 | 105.41 |
| Correlation (SPY) | 39.9% | 39.6% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.23 | 0.78 | 0.94 | 1.02 | 1.07 | 0.95 |
| Up Beta | -0.52 | 0.89 | 1.22 | 0.93 | 0.99 | 0.72 |
| Down Beta | 0.30 | 0.50 | 0.54 | 0.90 | 0.99 | 0.86 |
| Up Capture | -16% | 28% | 43% | 69% | 105% | 130% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 8 | 16 | 25 | 48 | 117 | 385 |
| Down Capture | 86% | 132% | 139% | 137% | 116% | 104% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 13 | 25 | 38 | 76 | 133 | 364 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCO | |
|---|---|---|---|---|
| BCO | 11.1% | 33.9% | 0.35 | - |
| Sector ETF (XLI) | 23.4% | 16.6% | 1.09 | 36.9% |
| Equity (SPY) | 20.7% | 12.5% | 1.22 | 39.6% |
| Gold (GLD) | 23.0% | 27.8% | 0.73 | 12.0% |
| Commodities (DBC) | 22.9% | 18.6% | 0.97 | -16.0% |
| Real Estate (VNQ) | 13.6% | 13.8% | 0.68 | 31.6% |
| Bitcoin (BTCUSD) | -41.8% | 42.8% | -1.14 | 26.2% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCO | |
|---|---|---|---|---|
| BCO | 7.0% | 31.1% | 0.26 | - |
| Sector ETF (XLI) | 14.0% | 17.6% | 0.63 | 51.6% |
| Equity (SPY) | 13.3% | 17.1% | 0.60 | 49.7% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 7.7% |
| Commodities (DBC) | 7.6% | 19.5% | 0.29 | 6.0% |
| Real Estate (VNQ) | 3.1% | 18.9% | 0.06 | 43.3% |
| Bitcoin (BTCUSD) | 13.2% | 53.5% | 0.43 | 18.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCO | |
|---|---|---|---|---|
| BCO | 15.3% | 36.9% | 0.49 | - |
| Sector ETF (XLI) | 14.8% | 20.0% | 0.65 | 56.5% |
| Equity (SPY) | 15.7% | 17.9% | 0.75 | 52.6% |
| Gold (GLD) | 11.6% | 16.1% | 0.59 | 3.1% |
| Commodities (DBC) | 6.2% | 18.0% | 0.27 | 16.0% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 48.2% |
| Bitcoin (BTCUSD) | 57.9% | 66.2% | 0.98 | 10.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/26/2026 | -13.9% | -9.4% | -25.7% |
| 11/5/2025 | 7.5% | 6.4% | 10.2% |
| 8/6/2025 | 12.8% | 22.8% | 28.2% |
| 5/12/2025 | -4.8% | -8.5% | -10.1% |
| 2/26/2025 | 1.9% | -8.6% | -7.8% |
| 11/6/2024 | -1.2% | -7.0% | -10.0% |
| 8/7/2024 | -6.6% | -4.7% | 5.5% |
| 2/29/2024 | 4.2% | 6.0% | 16.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 14 |
| # Negative | 8 | 10 | 8 |
| Median Positive | 4.5% | 5.5% | 12.7% |
| Median Negative | -5.3% | -4.8% | -6.0% |
| Max Positive | 25.5% | 22.8% | 57.7% |
| Max Negative | -13.9% | -9.4% | -25.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/26/2026 | -13.9% | -9.4% | -25.7% |
| 11/5/2025 | 7.5% | 6.4% | 10.2% |
| 8/6/2025 | 12.8% | 22.8% | 28.2% |
| 5/12/2025 | -4.8% | -8.5% | -10.1% |
| 2/26/2025 | 1.9% | -8.6% | -7.8% |
| 11/6/2024 | -1.2% | -7.0% | -10.0% |
| 8/7/2024 | -6.6% | -4.7% | 5.5% |
| 2/29/2024 | 4.2% | 6.0% | 16.3% |
| 11/7/2023 | 6.4% | 4.2% | 17.8% |
| 8/9/2023 | -5.3% | -0.5% | 3.5% |
| 5/10/2023 | 4.7% | 3.9% | 14.7% |
| 2/22/2023 | 12.6% | 5.6% | -0.4% |
| 10/26/2022 | -6.6% | -0.0% | 1.1% |
| 8/3/2022 | 1.9% | 2.3% | 0.5% |
| 5/10/2022 | 2.3% | 0.5% | 11.1% |
| 2/23/2022 | 2.1% | -0.2% | -4.2% |
| 10/27/2021 | 11.5% | 15.2% | 14.3% |
| 7/22/2021 | -5.3% | -1.9% | -1.9% |
| 4/28/2021 | 1.3% | 2.3% | -0.9% |
| 1/21/2021 | 2.0% | -5.0% | 0.1% |
| 10/29/2020 | -2.2% | 5.5% | 57.7% |
| 7/29/2020 | 25.5% | 15.3% | 22.9% |
| SUMMARY STATS | |||
| # Positive | 14 | 12 | 14 |
| # Negative | 8 | 10 | 8 |
| Median Positive | 4.5% | 5.5% | 12.7% |
| Median Negative | -5.3% | -4.8% | -6.0% |
| Max Positive | 25.5% | 22.8% | 57.7% |
| Max Negative | -13.9% | -9.4% | -25.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/06/2026 | 10-Q |
| 12/31/2025 | 02/26/2026 | 10-K |
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/07/2024 | 10-Q |
| 03/31/2024 | 05/08/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 10/26/2022 | 10-Q |
| 06/30/2022 | 08/03/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/28/2022 | 10-K |
| 09/30/2021 | 10/29/2021 | 10-Q |
| 06/30/2021 | 07/27/2021 | 10-Q |
| 03/31/2021 | 04/28/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/29/2020 | 10-Q |
| 03/31/2020 | 05/08/2020 | 10-Q |
| 12/31/2019 | 02/28/2020 | 10-K |
| 09/30/2019 | 10/23/2019 | 10-Q |
| 06/30/2019 | 07/24/2019 | 10-Q |
Recent Forward Guidance
Updated 5/31/2026Latest: Q4 2025 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | 1.33 Bil | 1.36 Bil | 1.40 Bil | 0.7% | Raised | Guidance: 1.35 Bil for Q4 2025 | |
| Q1 2026 Non-GAAP Adjusted EBITDA | 220.00 Mil | 230.00 Mil | 240.00 Mil | -17.0% | Lowered | Guidance: 277.00 Mil for Q4 2025 | |
| Q1 2026 Non-GAAP EPS | 1.5 | 1.7 | 1.9 | -31.5% | Lowered | Guidance: 2.48 for Q4 2025 | |
| 2026 Organic Revenue Growth | 4.0% | 5.0% | 0 | 0 | Affirmed | Guidance: 5.0% for 2025 | |
| 2026 AMS/DRS Organic Revenue Growth | 15.0% | 17.5% | 0 | 0 | Affirmed | Guidance: 17.5% for 2025 | |
| 2026 Adjusted EBITDA Margin Expansion | 0.3% | 0.4% | 0 | 0 | Affirmed | Guidance: 0.4% for 2025 | |
| 2026 Free Cash Flow Conversion | 0.4 | 0.42 | 0 | 0 | Affirmed | Guidance: 0.42 for 2025 | |
Prior: Q3 2025 Earnings Reported 11/5/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 1.33 Bil | 1.35 Bil | 1.38 Bil | 1.9% | Raised | Guidance: 1.33 Bil for Q3 2025 | |
| Q4 2025 Non-GAAP Adjusted EBITDA | 267.00 Mil | 277.00 Mil | 287.00 Mil | 10.8% | Raised | Guidance: 250.00 Mil for Q3 2025 | |
| Q4 2025 Non-GAAP EPS | 2.28 | 2.48 | 2.68 | 21.0% | Raised | Guidance: 2.05 for Q3 2025 | |
| 2025 Organic Revenue Growth | 5.0% | ||||||
| 2025 AMS/DRS Organic Revenue Growth | 17.5% | ||||||
| 2025 Adjusted EBITDA Margin Expansion | 0.3% | 0.4% | 0.5% | 0 | 0 | Affirmed | Guidance: 0.4% for 2025 |
| 2025 Free Cash Flow Conversion | 0.4 | 0.42 | 0.45 | 0 | 0 | Affirmed | Guidance: 0.42 for 2025 |
| 2025 Free Cash Flow Returned to Shareholders | 0.5 | 0 | Affirmed | Guidance: 0.5 for 2025 | |||
Insider Activity
Updated 6/3/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sweeney, Michael E | Controller | Direct | Sell | 12162025 | 119.50 | 1,418 | 169,447 | 687,706 | Form |
| 2 | Castillo, Daniel J | EVP | Direct | Sell | 8182025 | 109.70 | 21,700 | 2,380,558 | 2,434,093 | Form |
| 3 | Sweeney, Michael E | Controller | Direct | Sell | 8152025 | 115.00 | 746 | 85,790 | 895,275 | Form |
| 4 | Parker, Arthelbert Louis | Direct | Sell | 8152025 | 115.00 | 540 | 62,100 | 759,345 | Form | |
| 5 | Sweeney, Michael E | Controller | Direct | Sell | 8152025 | 110.00 | 795 | 87,450 | 938,410 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Sweeney, Michael E | Controller | Direct | Sell | 12162025 | 119.50 | 1,418 | 169,447 | 687,706 | Form |
| 2 | Castillo, Daniel J | EVP | Direct | Sell | 8182025 | 109.70 | 21,700 | 2,380,558 | 2,434,093 | Form |
| 3 | Sweeney, Michael E | Controller | Direct | Sell | 8152025 | 115.00 | 746 | 85,790 | 895,275 | Form |
| 4 | Parker, Arthelbert Louis | Direct | Sell | 8152025 | 115.00 | 540 | 62,100 | 759,345 | Form | |
| 5 | Sweeney, Michael E | Controller | Direct | Sell | 8152025 | 110.00 | 795 | 87,450 | 938,410 | Form |
| 6 | Wyche, Keith R | Direct | Sell | 8122025 | 106.15 | 475 | 50,421 | 390,844 | Form | |
| 7 | Sweeney, Michael E | Controller | Direct | Sell | 8082025 | 103.75 | 1,000 | 103,750 | 967,572 | Form |
| 8 | Sweeney, Michael E | Controller | Direct | Sell | 8082025 | 99.05 | 1,314 | 130,150 | 1,022,777 | Form |
| 9 | Sweeney, Michael E | Controller | Direct | Sell | 8082025 | 95.00 | 488 | 46,360 | 1,105,800 | Form |
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Security & Alarm Services Resources |
| Security Magazine |
| Security Sales & Integration (SSI) |
| SDM Magazine |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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