BRINKS CO
BCO · Arrangement of Transportation of Freight & Cargo · 41.2M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $138M (gross $170M, SBC $32M)
Reference price $119.50 · est. market cap ~$4.9B — last insider sale, 2025-12-15 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B74Durable global cash-logistics franchise with strong operating margins, though returns are flattered by heavy leverage.
Strengths
- Operating margin 100th pct and net margin 87.5th; entrenched moat from a 1859-founded global armored network in 100+ countries
- Top-decile cash position ($1.75B) and steady FCF with consistent buybacks and dividends
Risks
- ROE 71.9% is a leverage artifact (D/E 15.2); underlying ROA is just 2.7% (55.6th pct)
- Secular decline in cash usage, FX/political exposure (69% non-U.S. revenue), and legacy coal/environmental liabilities
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 15.18)
- Customer concentration~69% of revenue from one customer/distributor — Sixty-nine percent (69%) of our revenues in 2025 came from operations outside the U
- Buying back stockNet buyback — share count -2%/yr over 4y
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
25.8%
Operating margin
11.1%
Net margin
3.8%
Return on equity
71.9%
Return on assets
2.7%
ROIC
10.3%
Revenue growth (QoQ)
-0.3%
Net-income growth
22.6%
Debt / equity
15.2×
Net debt / EBITDA
2.8×
Current ratio
1.5×
EBITDA
$876M
Tangible book value
-$1.6B
Cash & investments
$1.7B
Stock comp / revenue
0.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-01 | Louridi Adnane | Grant | 1.4K | — |
| 2026-05-01 | Louridi Adnane | Grant | 5.2K | — |
| 2026-04-28 | Parker Arthelbert Louis | Option exercise | 1.8K | — |
| 2026-04-28 | Herling Michael J | Option exercise | 1.8K | — |
| 2026-04-28 | Clough Ian D | Option exercise | 1.8K | — |
| 2026-04-28 | Docherty Susan E | Option exercise | 1.8K | — |
| 2026-04-28 | Wyche Keith R | Option exercise | 1.8K | — |
| 2026-04-01 | Clough Ian D | Grant | 153 | — |
| 2026-04-01 | Herling Michael J | Grant | 156 | — |
| 2026-03-03 | McMaken Kurt B | Tax withheld | 699 | $125.83 |
| 2026-03-03 | Galloway Elizabeth A | Tax withheld | 341 | $125.83 |
| 2026-03-03 | Eubanks Richard M. | Tax withheld | 1.8K | $125.83 |
| 2026-03-03 | Eubanks Richard M. | Tax withheld | 2.3K | $125.83 |
| 2026-03-03 | Eubanks Richard M. | Disposition | 1.4K | — |
| 2026-03-03 | Eubanks Richard M. | Disposition | 618 | — |
| 2026-03-03 | McMaken Kurt B | Tax withheld | 742 | $125.83 |
| 2026-03-02 | Eubanks Richard M. | Grant | 19K | — |
| 2026-03-02 | Cook Kristen Williams | Grant | 1.7K | — |
| 2026-03-02 | Antar Nader Rida | Grant | 1.6K | — |
| 2026-03-02 | Gabay Michael Nissim | Grant | 1.0K | — |
| 2026-03-02 | Peschard Mijares Guillermo Eduardo | Grant | 1.4K | — |
| 2026-03-02 | Galloway Elizabeth A | Grant | 1.8K | — |
| 2026-03-02 | Button Adrian | Grant | 4.9K | — |
| 2026-03-02 | McMaken Kurt B | Grant | 4.0K | — |
| 2026-03-01 | Eubanks Richard M. | Disposition | 566 | — |
| 2026-03-01 | Galloway Elizabeth A | Tax withheld | 325 | $116.77 |
| 2026-03-01 | Eubanks Richard M. | Tax withheld | 2.1K | $116.77 |
| 2026-03-01 | McMaken Kurt B | Tax withheld | 774 | $116.77 |
| 2026-02-18 | McMaken Kurt B | Tax withheld | 13K | $129.82 |
| 2026-02-18 | Gabay Michael Nissim | Grant | 3.4K | $129.82 |
| 2026-02-18 | Galloway Elizabeth A | Grant | 17K | $129.82 |
| 2026-02-18 | Galloway Elizabeth A | Tax withheld | 6.6K | $129.82 |
| 2026-02-18 | Eubanks Richard M. | Grant | 112K | $129.82 |
| 2026-02-18 | Eubanks Richard M. | Tax withheld | 34K | $129.82 |
| 2026-02-18 | Eubanks Richard M. | Disposition | 27K | — |
| 2026-02-18 | McMaken Kurt B | Grant | 30K | $129.82 |
| 2026-01-01 | Clough Ian D | Grant | 136 | — |
| 2026-01-01 | Herling Michael J | Grant | 139 | — |
| 2025-12-15 | Sweeney Michael E | Sell | 1.4K | $119.50 |
| 2025-12-02 | Peschard Mijares Guillermo Eduardo | Tax withheld | 326 | $113.15 |
| 2025-10-01 | Herling Michael J | Grant | 139 | — |
| 2025-10-01 | Clough Ian D | Grant | 136 | — |
| 2025-09-30 | McMaken Kurt B | Tax withheld | 651 | $116.86 |
| 2025-09-30 | Sweeney Michael E | Tax withheld | 612 | $116.86 |
| 2025-09-02 | Cook Kristen Williams | Grant | 9.0K | — |
| 2025-08-15 | Castillo Daniel J | Sell | 192 | $110.35 |
| 2025-08-15 | Castillo Daniel J | Sell | 22K | $109.70 |
| 2025-08-14 | Sweeney Michael E | Sell | 746 | $115.00 |
| 2025-08-14 | Parker Arthelbert Louis | Sell | 540 | $115.00 |
| 2025-08-13 | Sweeney Michael E | Sell | 795 | $110.00 |
| 2025-08-11 | Wyche Keith R | Sell | 475 | $106.15 |
| 2025-08-07 | Sweeney Michael E | Sell | 500 | $102.50 |
| 2025-08-07 | Sweeney Michael E | Sell | 500 | $105.00 |
| 2025-08-06 | Sweeney Michael E | Sell | 814 | $100.00 |
| 2025-08-06 | Sweeney Michael E | Sell | 500 | $97.50 |
| 2025-07-07 | Sweeney Michael E | Sell | 488 | $95.00 |
| 2025-07-01 | Herling Michael J | Grant | 175 | — |
| 2025-07-01 | Clough Ian D | Grant | 168 | — |
| 2025-06-30 | Castillo Daniel J | Tax withheld | 1.7K | $89.29 |
| 2025-06-30 | Galloway Elizabeth A | Tax withheld | 3.2K | $89.29 |
| 2025-05-19 | Herling Michael J | Buy | 222 | $86.41 |
| 2025-05-02 | Wyche Keith R | Option exercise | 1.7K | — |
| 2025-05-02 | Clough Ian D | Option exercise | 1.7K | — |
| 2025-05-02 | Andrade Kathie J. | Option exercise | 1.7K | — |
| 2025-05-02 | Parker Arthelbert Louis | Option exercise | 1.7K | — |
| 2025-05-02 | Herling Michael J | Option exercise | 1.7K | — |
| 2025-05-02 | Docherty Susan E | Option exercise | 1.7K | — |
| 2025-05-01 | Antar Nader Rida | Grant | 502 | — |
| 2025-05-01 | Gabay Michael Nissim | Grant | 502 | — |
| 2025-04-01 | Clough Ian D | Grant | 130 | — |
| 2025-04-01 | Herling Michael J | Grant | 181 | — |
| 2025-03-17 | Eubanks Richard M. | Tax withheld | 736 | $86.51 |
| 2025-03-03 | Eubanks Richard M. | Grant | 19K | — |
| 2025-03-03 | Eubanks Richard M. | Tax withheld | 1.8K | $88.51 |
| 2025-03-03 | Eubanks Richard M. | Disposition | 1.4K | — |
| 2025-03-03 | Parks James K | Tax withheld | 336 | $88.51 |
| 2025-03-03 | Parks James K | Grant | 2.6K | — |
| 2025-03-03 | Castillo Daniel J | Grant | 4.3K | — |
| 2025-03-03 | Galloway Elizabeth A | Grant | 2.6K | — |
| 2025-03-03 | Castillo Daniel J | Tax withheld | 593 | $88.51 |
| 2025-03-03 | McMaken Kurt B | Grant | 5.2K | — |
| 2025-03-03 | McMaken Kurt B | Tax withheld | 586 | $88.51 |
| 2025-03-03 | Sweeney Michael E | Tax withheld | 227 | $88.51 |
| 2025-03-03 | Sweeney Michael E | Grant | 1.3K | — |
| 2025-03-03 | Blackwood Lindsay K. | Tax withheld | 379 | $88.51 |
| 2025-03-03 | Blackwood Lindsay K. | Grant | 2.5K | — |
| 2025-03-01 | Blackwood Lindsay K. | Tax withheld | 281 | $94.04 |
| 2025-03-01 | McMaken Kurt B | Tax withheld | 648 | $94.04 |
| 2025-03-01 | Eubanks Richard M. | Tax withheld | 1.0K | $94.04 |
| 2025-03-01 | Eubanks Richard M. | Tax withheld | 2.1K | $94.04 |
| 2025-03-01 | Eubanks Richard M. | Disposition | 566 | — |
| 2025-03-01 | Castillo Daniel J | Tax withheld | 569 | $94.04 |
| 2025-03-01 | Sweeney Michael E | Tax withheld | 206 | $94.04 |
| 2025-03-01 | Sweeney Michael E | Disposition | 53 | — |
| 2025-03-01 | Sweeney Michael E | Tax withheld | 170 | $94.04 |
| 2025-03-01 | Sweeney Michael E | Disposition | 44 | — |
| 2025-03-01 | Blackwood Lindsay K. | Tax withheld | 373 | $94.04 |
| 2025-03-01 | Parks James K | Tax withheld | 295 | $94.04 |
| 2025-03-01 | Parks James K | Tax withheld | 332 | $94.04 |
| 2025-03-01 | Parks James K | Other | 60 | — |
| 2025-03-01 | Parks James K | Tax withheld | 104 | $94.04 |
| 2025-03-01 | Galloway Elizabeth A | Tax withheld | 369 | $94.04 |
| 2025-02-19 | McMaken Kurt B | Grant | 41K | — |
| 2025-02-19 | McMaken Kurt B | Tax withheld | 15K | $94.59 |
| 2025-02-19 | McMaken Kurt B | Grant | 5.8K | — |
| 2025-02-19 | McMaken Kurt B | Tax withheld | 2.1K | $94.59 |
| 2025-02-19 | Blackwood Lindsay K. | Grant | 7.6K | — |
| 2025-02-19 | Blackwood Lindsay K. | Tax withheld | 3.3K | $94.59 |
| 2025-02-19 | Blackwood Lindsay K. | Grant | 1.8K | — |
| 2025-02-19 | Blackwood Lindsay K. | Tax withheld | 756 | $94.59 |
| 2025-02-19 | Eubanks Richard M. | Grant | 54K | — |
| 2025-02-19 | Eubanks Richard M. | Tax withheld | 21K | $94.59 |
| 2025-02-19 | Eubanks Richard M. | Grant | 13K | — |
| 2025-02-19 | Eubanks Richard M. | Tax withheld | 5.1K | $94.59 |
| 2025-02-19 | Castillo Daniel J | Grant | 35K | — |
| 2025-02-19 | Castillo Daniel J | Tax withheld | 14K | $94.59 |
| 2025-02-19 | Castillo Daniel J | Grant | 4.8K | — |
| 2025-02-19 | Castillo Daniel J | Tax withheld | 1.9K | $94.59 |
| 2025-02-19 | Parks James K | Grant | 9.1K | — |
| 2025-02-19 | Parks James K | Tax withheld | 3.6K | $94.59 |
| 2025-02-19 | Parks James K | Grant | 2.1K | — |
| 2025-02-19 | Parks James K | Tax withheld | 829 | $94.59 |
| 2025-02-19 | Parks James K | Other | 904 | — |
| 2025-02-19 | Sweeney Michael E | Grant | 3.4K | $94.59 |
| 2025-02-19 | Sweeney Michael E | Tax withheld | 997 | $94.59 |
| 2025-02-19 | Sweeney Michael E | Disposition | 332 | — |
| 2025-01-01 | Herling Michael J | Grant | 168 | — |
| 2025-01-01 | Clough Ian D | Grant | 157 | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-18 | OtherExhibits | filing ↗ |
| 2026-06-02 | Reg FDExhibits | filing ↗ |
| 2026-05-06 | Reg FDExhibits | filing ↗ |
| 2026-05-04 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-04-10 | Exec/director changeExhibits | filing ↗ |
| 2026-04-06 | Material agreementDebt obligationReg FDExhibits | filing ↗ |
| 2026-02-26 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-26 | Material agreementReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-18 | 2026-06-18 | 0001140361-26-025760 ↗ |
| 8-K | 2026-06-02 | 2026-06-02 | 0000078890-26-000045 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0000078890-26-000040 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0000078890-26-000041 ↗ |
| 8-K | 2026-05-04 | 2026-04-28 | 0000078890-26-000034 ↗ |
| 8-K | 2026-04-10 | 2026-04-06 | 0000078890-26-000031 ↗ |
| 8-K | 2026-04-06 | 2026-03-31 | 0000078890-26-000021 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0000078890-26-000008 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001104659-26-020500 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0000078890-26-000010 ↗ |
| 8-K | 2026-01-09 | 2026-01-07 | 0000078890-26-000002 ↗ |
| 8-K | 2025-12-11 | 2025-12-10 | 0000078890-25-000317 ↗ |