BRC Inc.

BRCC

Consumer DefensivePackaged FoodsNYSE

$1.34

Market Cap: $426.34M

BRC Inc. (BRCC) Valuation Summary

Updated Apr 16, 2026 22:13

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	—	N/A	—
Revenue DCF 10Y	$0.07 – $15.37	$0.72	-20.0%
▸ Trading Multiples
EV/Revenue	$2.04 – $7.22	$4.28	+376.2%

Valuation History

DCF Analysis

BRC Inc. (BRCC) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.72

Market Price

$1.34

Upside / Downside

-46.3%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -6.2% to a target of 7.6% over 5 years, discounted at a WACC of 7.8%, BRC Inc. (BRCC) has an intrinsic value of $0.72 per share (range: $0.07 – $15.37).

Key Assumptions

Current Operating Margin

-6.2%

Target Operating Margin

7.6%

WACC

7.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.7%

Target CapEx/Rev

6.0%

D&A/Revenue

2.0%

Tax Rate

21.0%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	428	7.5%	-3.4%	-15	-15	9	(24)	8	-38	-37
2027	469	9.6%	-0.7%	-3	-3	10	(27)	6	-26	-23
2028	542	15.4%	2.1%	11	9	11	(31)	10	-21	-18
2029	596	10.0%	4.8%	29	23	12	(35)	7	-7	-5
2030	655	10.0%	7.6%	50	39	13	(38)	8	6	4
2031	737	12.4%	7.6%	56	44	15	(43)	11	5	3
2032	814	10.6%	7.6%	62	49	17	(48)	11	7	4
2033	885	8.7%	7.6%	67	53	18	(53)	10	9	5
2034	945	6.8%	7.6%	72	57	19	(56)	8	11	6
2035	991	4.9%	7.6%	75	59	20	(59)	6	14	7

Enterprise Value Bridge

Sum of PV(FCFF)-54

Terminal Value (Gordon Growth at 3.0%)300

PV of Terminal Value147

Enterprise Value94

(–) Net Debt25

Equity Value68

(÷) Shares Outstanding95

Fair Value per Share$0.72

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.6%	4.6%	7.6%	10.6%	13.6%
5.8%	$-3	$-2	$2	$9	$15
6.8%	$-3	$-2	$1	$6	$11
7.8%	$-3	$-2	$1	$4	$8
8.8%	$-3	$-2	$0	$3	$6
9.8%	$-3	$-2	$0	$2	$5

Current price: $1.34. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 13.6% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$4.30

Market Price

$1.34

Upside / Downside

+220.6%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), BRC Inc. (BRCC) has a fair value of $4.30 based on 8 comparable companies in the Packaged Foods industry.

EV/Revenue Valuation — Packaged Foods

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
BRC Inc.BRCC	128	0.4x	0.4x
Westrock Coffee Company, LLCWEST	505	0.6x	0.8x
Nature's Sunshine Products, Inc.NATR	460	0.8x	0.9x
B&G Foods, Inc.BGS	425	1.3x	1.2x
Lifeway Foods, Inc.LWAY	385	1.8x	2.2x
USANA Health Sciences, Inc.USNA	352	0.2x	0.2x
Alico, Inc.ALCO	329	8.5x	53.4x
CHS Inc.CHSCL	315	0.1x	—
Forafric Global PLCAFRI	261	1.5x	—
Industry Median		1.0x	1.0x
(*) Revenue		398	431
= Enterprise Value		418	451
(-) Net Debt		25	25
Equity Value		392	426
(/) Outstanding shares		95	95
Fair Price		$4	$4

Selected Fair Value (avg of trailing + forward)

$4.30

+220.6%

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Model

Range

Fair Value

Upside

▸ Discounted Cash Flow

Revenue DCF 5Y

—

N/A

—

Revenue DCF 10Y

$0.07 – $15.37

$0.72

-20.0%

▸ Trading Multiples

EV/Revenue

$2.04 – $7.22

$4.28

+376.2%

DCF Analysis

BRC Inc. (BRCC) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.72

Market Price

$1.34

Upside / Downside

-46.3%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-6.2%

Target Operating Margin

7.6%

WACC

7.8%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

5.7%

Target CapEx/Rev

6.0%

D&A/Revenue

2.0%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	428	7.5%	-3.4%	-15	-15	9	(24)	8	-38	-37
2027	469	9.6%	-0.7%	-3	-3	10	(27)	6	-26	-23
2028	542	15.4%	2.1%	11	9	11	(31)	10	-21	-18
2029	596	10.0%	4.8%	29	23	12	(35)	7	-7	-5
2030	655	10.0%	7.6%	50	39	13	(38)	8	6	4
2031	737	12.4%	7.6%	56	44	15	(43)	11	5	3
2032	814	10.6%	7.6%	62	49	17	(48)	11	7	4
2033	885	8.7%	7.6%	67	53	18	(53)	10	9	5
2034	945	6.8%	7.6%	72	57	19	(56)	8	11	6
2035	991	4.9%	7.6%	75	59	20	(59)	6	14	7

Enterprise Value Bridge

Sum of PV(FCFF)-54

Terminal Value (Gordon Growth at 3.0%)300

PV of Terminal Value147

Enterprise Value94

(–) Net Debt25

Equity Value68

(÷) Shares Outstanding95

Fair Value per Share$0.72

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	1.6%	4.6%	7.6%	10.6%	13.6%
5.8%	$-3	$-2	$2	$9	$15
6.8%	$-3	$-2	$1	$6	$11
7.8%	$-3	$-2	$1	$4	$8
8.8%	$-3	$-2	$0	$3	$6
9.8%	$-3	$-2	$0	$2	$5

Current price: $1.34. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 13.6% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$4.30

Market Price

$1.34

Upside / Downside

+220.6%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), BRC Inc. (BRCC) has a fair value of $4.30 based on 8 comparable companies in the Packaged Foods industry.

EV/Revenue Valuation — Packaged Foods

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
BRC Inc.BRCC	128	0.4x	0.4x
Westrock Coffee Company, LLCWEST	505	0.6x	0.8x
Nature's Sunshine Products, Inc.NATR	460	0.8x	0.9x
B&G Foods, Inc.BGS	425	1.3x	1.2x
Lifeway Foods, Inc.LWAY	385	1.8x	2.2x
USANA Health Sciences, Inc.USNA	352	0.2x	0.2x
Alico, Inc.ALCO	329	8.5x	53.4x
CHS Inc.CHSCL	315	0.1x	—
Forafric Global PLCAFRI	261	1.5x	—
Industry Median		1.0x	1.0x
(*) Revenue		398	431
= Enterprise Value		418	451
(-) Net Debt		25	25
Equity Value		392	426
(/) Outstanding shares		95	95
Fair Price		$4	$4

Selected Fair Value (avg of trailing + forward)

$4.30

+220.6%