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Brilliant Earth Group, Inc. key statistics and ratios

In fiscal 2025, Brilliant Earth Group, Inc. had return on equity of -26.3%, an operating margin of -1.2%, debt equal to 0.0% of equity and a current ratio of 1.61. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin42.2%44.6%49.3%53.3%57.6%60.3%57.5%56.5%
Operating margin−2.7%10.6%10.6%5.3%1.0%0.8%−1.2%−2.0%
Net margin−3.9%8.6%0.4%0.5%0.1%0.1%−0.8%−1.0%
Free-cash-flow margin−0.1%10.4%10.6%1.2%3.2%3.0%1.3%0.6%
Return on equity——36.4%22.1%5.0%3.9%−26.3%−36.8%
Return on assets—25.3%1.0%0.9%0.2%0.2%−1.5%−2.3%
Asset turnover—2.962.511.831.671.521.812.26
Current ratio—2.142.222.762.662.701.611.58
Debt to equity——773.5%579.9%479.8%365.7%0.0%0.0%
Interest cover (operating income ÷ interest)n/m5.4x5.3x5.0x0.9x0.7xn/mn/m
Effective tax rate—0.0%−1.2%−0.9%−10.0%3.9%——
SG&A as % of revenue44.9%34.0%38.7%48.0%56.6%———
Capital spending as % of revenue0.3%0.2%1.5%2.1%2.7%1.2%0.9%0.8%
Free cash flow ÷ net income—121.1%>999%252.1%>999%>999%——
Dividends ÷ net income—————0.0%——
Dividends and buybacks ÷ free cash flow————0.0%5.0%73.9%3.3%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 3 checks passed · June 30, 2026
What it owns · $197m
Short-term assets $139mLonger-term assets $57m
What it owes, and who funded it · $136m
Short-term liabilities $89mLonger-term liabilities $35mShareholders' equity $12m
  • Short-term assets cover short-term liabilities $139m of assets due within a year against $89m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $139m short-term assets against $35m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$9m against $272,000 of interest.

From Brilliant Earth Group, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

29 /100

Weak moat

How hard Brilliant Earth Group's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 0.3% of total assets over 5 years.

  • Pricing power 16 / 20

    Gross margin has been a median 56.0%, moving by 4.7 percentage points (standard deviation) across 6 years.

  • Durability 0 / 20

    Operating margin has been a median 2.1%; its worst year was -2.0%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 5 of 5 years, at a median 2.9% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (34 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: BRLT vs UFIBRLT vs SGCBRLT vs VNCE

More: Apparel, Accessories & Luxury Goods stocks compared, Consumer Discretionary sector, rankings of US companies

Figures from Brilliant Earth Group, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Brilliant Earth Group, Inc.