Birks Group Inc. (BGI) intrinsic value & 10-year financials
Birks Group Inc. (BGI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 5.1% a year to $177.8M, with an average return on invested capital of -13.9%.
- Graham intrinsic value
- —
- Revenue (FY2025)
- $177.8M
- Revenue growth (10-yr CAGR)
- -5.1%
- ROIC (10-yr avg)
- -13.9%
- Free cash flow (FY2025)
- -$8.9M
BGI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $177.8M | -$12.8M | -$0.66 | -$8.9M | -3.1% | -41.4% |
| FY2024 | $185.3M | -$4.6M | -$0.24 | -$6.5M | 0.7% | 5.7% |
| FY2023 | $162.9M | -$7.4M | -$0.40 | -$15.3M | -2.3% | -15.3% |
| FY2022 | $181.3M | $1.3M | $0.07 | $14.0M | 2.5% | 17.8% |
| FY2021 | $143.1M | -$5.8M | -$0.32 | -$4.7M | -2.0% | -13.5% |
| FY2020 | $169.4M | -$12.8M | -$0.71 | -$10.2M | -3.9% | -26.8% |
| FY2019 | $151.0M | -$18.7M | -$1.04 | -$16.3M | -9.0% | -46.2% |
| FY2018 | $146.6M | $11.7M | $0.64 | -$34.4M | -9.3% | -61.9% |
| FY2017 | $153.0M | $4.9M | $0.27 | $2.2M | 5.4% | 12.5% |
| FY2016 | $285.8M | $5.4M | $0.30 | -$1.8M | 5.4% | 29.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BIRKS GROUP INC. is facing top-line stagnation, with revenue contracting over the decade.
BIRKS GROUP INC. has historically struggled to out-earn its cost of capital, averaging just -14.0% ROIC.
BIRKS GROUP INC. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BIRKS GROUP INC. is modeled at -5.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.11 per share.