At a glance
Brinks Company is worth $4.13B, about 21 times its fiscal 2025 earnings. Revenue grew 5.0% to $5.26B in fiscal 2025, with 3.8% kept as profit; over 5 years it has grown 7.3% a year. It pays a 1.04% dividend yield, raised every year for at least 5 years, and returned $1.03B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −12.3% over the past year with dividends reinvested and +9.1% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 50.8% in the 2020 crash (S&P 500: 33.7%) and 32.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 44 months and 8 months after the lows.
The business in plain English
Brink's moves, stores and processes cash and other valuables. Its customers include banks, retailers, government agencies, mints and jewelers in more than 100 countries. Founded in 1859 and based in Richmond, Virginia, the company had about 65,400 employees, 1,200 facilities and 15,900 vehicles at the time of its 2025 annual report. Revenue was about $5.26 billion in 2025.
Cash and valuables management brought in about 72% of 2025 revenue. It covers armored-truck cash pickups, ATM cash refills, cash counting and sorting, vault storage, and Brink's Global Services, which ships diamonds, precious metals, banknotes and fine art worldwide. These contracts usually start with a term of one to three years and stay in place until one side cancels. The other 28% came from two technology-based services. Digital retail solutions are smart cash devices and software that give stores faster access to the cash they deposit. In ATM managed services, Brink's runs ATMs for banks and retailers. These two services run on recurring, multi-year contracts, and their revenue grew from about $1.0 billion in 2023 to about $1.5 billion in 2025.
North America supplied about 33% of 2025 revenue, Europe 27%, Latin America 25% and Rest of World (mainly the Middle East, Africa and Asia) 15%. The U.S. alone was about 31%, followed by Mexico at 11% and France at 9%. Its largest multinational rivals are Loomis, Prosegur and GardaWorld. Revenue usually peaks in the fourth quarter.
Price history
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BCO -12.3% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Cash and valuables management | $3.80B | 72.2% |
| DRS and AMS | $1.46B | 27.8% |
By business segment
| North America | $1.74B | 33.1% |
| Europe | $1.43B | 27.2% |
| Latin America | $1.29B | 24.5% |
| Rest of World | $799.5M | 15.2% |
By geography
| U.S. | $1.61B | 30.7% |
| Other | $1.60B | 30.4% |
| Mexico | $576.4M | 11% |
| France | $470.8M | 8.9% |
| Brazil | $285.2M | 5.4% |
| United Kingdom | $236.1M | 4.5% |
| Netherlands | $183.6M | 3.5% |
| Argentina | $168.2M | 3.2% |
| CANADA | $129.7M | 2.5% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $1.39B, up 7.1% from a year earlier, and net income was $44.4M (+1.6%).
- For fiscal 2025, revenue was $5.26B (+5.0% year over year; +7.3% a year from FY2020 to FY2025) with a 3.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +7.3% good |
|---|---|
| Operating margin | 11.1% watch |
| Free cash flow margin | 8.3% watch |
| Return on equity (FY2025) | 71.9% (lifted by a small equity base, often the result of years of buybacks) good |
| Return on assets (FY2025) | 2.7% weak |
| Net cash (cash minus debt) | $-2.83B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $3.69B | $16.0M | $199.2M |
| FY2021 | $4.20B | $105.2M | $310.1M |
| FY2022 | $4.54B | $170.6M | $297.3M |
| FY2023 | $4.87B | $87.7M | $499.7M |
| FY2024 | $5.01B | $162.9M | $203.5M |
| FY2025 | $5.26B | $199.7M | $436.4M |
Valuation snapshot
| Market value | $4.13B |
|---|---|
| P/E ratio | 21.4 |
| Dividend yield | 1.04% |
Rank among 1514 US companies
Market value at each year end
Brinks’s market value went from $2.06B at the end of 2016 to $4.13B on Oct 28, 2026, about 2.0 times as much; since the end of 2025 it is down 15%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $4.13B | -14.9% |
| 2025 | $4.85B | +19.8% |
| 2024 | $4.05B | +2.2% |
| 2023 | $3.96B | +58.8% |
| 2022 | $2.49B | -22.6% |
| 2021 | $3.22B | -9.4% |
| 2020 | $3.56B | -21.5% |
| 2019 | $4.54B | +38.6% |
| 2018 | $3.27B | -17.6% |
| 2017 | $3.97B | +93.1% |
| 2016 | $2.06B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| BCO price data to Oct 28, 2026 | -13.6% | -12.3% | +16.3% | +9.1% | +10.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -13.6% |
| 2025 | +27.2% |
| 2024 | +6.5% |
| 2023 | +65.8% |
| 2022 | -17.0% |
| 2021 | -8.0% |
| 2020 | -19.6% |
| 2019 | +41.3% |
| 2018 | -17.2% |
| 2017 | +92.5% |
| 2016 | +44.7% |
| 2015 | +19.9% |
| 2014 | -27.4% |
| 2013 | +21.3% |
| 2012 | +7.8% |
| 2011 | +1.4% |
| 2010 | +12.4% |
| 2009 | -8.1% |
| 2008 | -18.5% |
| 2007 | -6.0% |
| 2006 | +33.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 33.4% over that stretch · deepest drop along the way 53.5%, back to its old high 92.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 50.5% over that stretch · deepest drop along the way 50.8%, back to its old high 44.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 12.7% over that stretch · deepest drop along the way 32.8%, back to its old high 8.2 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 0 sales ($0.00).
Who owns it
Large shareholders (13G filings)
| FMR LLC | 15% | Jun 30, 2026 |
| Vanguard Capital Management | 5.28% | Mar 31, 2026 |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | 4.7% | Jun 30, 2025 |
ETFs with the most weight in BCO
| MGMT Ballast Small/Mid Cap ETF | 2.44% |
| DGRS WisdomTree US Smallcap Quality Dividend Growth Fund | 0.72% |
| DSMC Distillate Small/Mid Cash Flow ETF | 0.59% |
| QSML WisdomTree U.S. SmallCap Quality Growth Fund | 0.59% |
| BUYO KraneShares Man Buyout Beta Index ETF | 0.53% |
| FFSM Fidelity Fundamental Small-Mid Cap ETF | 0.47% |
| TMSL T. Rowe Price Small-Mid Cap ETF | 0.4% |
| IWO iShares Russell 2000 Growth ETF | 0.34% |
What could go wrong
- Fewer people paying with cash. About 72% of 2025 revenue came from cash and valuables management. If cards and digital payments keep gaining ground, demand for cash pickups, processing and ATM refills could shrink faster than newer services grow.
- Robberies and losses of customer valuables. Brink's handles cash, precious metals, diamonds and other valuables for customers. Large thefts or other losses could hurt earnings and cash flow, and a poor loss record can raise its insurance premiums.
- Settlement terms with the DOJ and FinCEN. Brink's has settlement agreements with the U.S. Department of Justice and FinCEN, the Treasury's financial-crimes unit. Breaking their terms could bring more penalties, and meeting them adds compliance costs and burdens.
- Pension and former coal-business obligations. Brink's has significant retirement obligations and possible environmental liabilities from its former coal operations. Weak pension investment returns, or lower interest rates used to value the obligations, could hurt cash and earnings.
- Heavy debt and lender conditions. Total debt was about $4.49 billion against $1.66 billion of cash and investments as of June 30, 2026. Lender conditions, called covenants, limit flexibility, and costlier borrowing could hurt results.
- Most revenue earned outside the U.S. The U.S. supplied only about 31% of 2025 revenue. Mexico, France, Brazil and Argentina are among its larger markets. Currency swings, differing local laws and weaker foreign economies can affect results.
Recent events
- Other company announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Shareholder vote results; Investor presentation or announcement
- Other company announcement
- Investor presentation or announcement
- Investor presentation or announcement
- Executive or board change; Shareholder vote results
- Executive or board change
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
For income and retirement investors
Brink's pays a dividend, but the yield is small: 1.04% as of October 28, 2026. The dividend per share has risen five years in a row, from $0.60 in 2020 to about $1.01 in 2025, an average gain of about 10.9% a year. Dividends used about 21% of 2025 earnings and about 10% of free cash flow (the cash left after running the business and paying for equipment), so they take a small slice of profits. The company returns far more through buybacks: about $835 million over 2021–2025, compared with about $199 million in dividends. The share count fell about 16% between October 2021 and July 2026.
The stock has fallen hard in downturns. It dropped about 54% in the 2008 financial crisis and did not regain its high until August 2016. In the 2020 COVID crash it fell about 51% and recovered in December 2023. In the 2022 bear market it fell about 33%. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Brink's make money?
Brink's earns fees for moving, storing and processing cash and valuables for banks, retailers, government agencies, mints and jewelers. In 2025, cash and valuables management made up about 72% of its roughly $5.26 billion in revenue. That covers armored cash pickups, ATM cash refills, cash counting and vault storage. The other 28% came from digital retail solutions and ATM managed services, which are technology-based services sold on recurring, multi-year contracts.
Does Brink's raise its dividend every year?
Brink's has raised its dividend five years in a row. The dividend per share grew from $0.60 in 2020 to about $1.01 in 2025, about 10.9% a year on average. The yield was 1.04% as of October 28, 2026, which is modest for income seekers. Dividends took about 21% of 2025 earnings. Over 2021–2025, the company spent far more on share buybacks than on dividends.
Is the decline of cash a threat to Brink's?
Yes. Brink's lists the decreased use of cash as a risk in its annual report, warning that the growth of other payment options could reduce demand for cash services. About 72% of 2025 revenue came from cash and valuables management. The company is expanding digital retail solutions and ATM managed services, whose revenue grew from about $1.0 billion in 2023 to about $1.5 billion in 2025. The company says these efforts may not make up for a shrinking share of cash payments.
How much debt does Brink's have?
Quite a lot compared with its equity. As of June 30, 2026, total debt was about $4.49 billion, against about $1.66 billion of cash and investments, leaving net debt of about $2.83 billion. Shareholders' equity was only about $311 million. A small equity base makes return on equity (profit divided by shareholders' equity) look unusually high: 71.9% in 2025. Brink's must meet covenants, or lender conditions, on its credit facilities and notes. A filing on April 6, 2026 reported a new debt obligation.
How has Brink's stock performed?
Its share price has risen over long stretches but swings widely. As of October 28, 2026, the stock had gained about 9.1% a year over five years and 10.8% a year over 10 years. It had lost about 12.3% over one year and 13.6% year to date in 2026. Full calendar years ranged from a 92.5% gain in 2017 to a 27.4% loss in 2014. On October 28, 2026, the shares traded at about 21.4 times 2025 earnings.