Brenx LTD. is a US-listed company in the industrial machinery & supplies & components industry. Its financial year ends in December.
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~$0.6
Price-to-sales vs peers
Base case. Range ~$0.6–$1.8. Sales per share times peers' typical price-to-sales; used only when earnings are negative.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Brenx LTD. valuation: adjust assumptions and compare models →
Brenx LTD. has little or no product revenue yet; it used $10m of cash in the twelve months. The diluted share count is up 173.3% on a year earlier, which dilutes existing holders. It passes 2 of our 6 financial-health checks. Our price-to-sales vs peers value is $0.70 a share, against a share price of $0.46.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Where it lags: gross margin of -829.2% ranks 70 of 70 industrial machinery & supplies & components companies we cover.
Current signal Free cash flow diverging from earnings: TTM free cash flow fell 9.1% while net income fell 105.3%: a 96pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Nothing in Brenx LTD.'s latest figures clears our strength thresholds.
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Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for BRNX from the sources we follow. See filings →
We value Brenx LTD. as an operating company, with every model that fits that kind of business. Cost of equity 8.7%: the 10-year Treasury yield (4.9%) plus a beta of 0.83 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$0.6 ~$0.7–$1.8 | Included, half weight |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$0.6 ~$0.6–$1.8 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Brenx LTD. with Industrial Machinery & Supplies & Components in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
| At fiscal year end | 2022 | 2023 | 2025 |
|---|---|---|---|
| Share price | $14406.00 | $6142.50 | $103.32 |
| Market value | $21.1bn | $343m | $42m |
| + Net debt (− = net cash) | −$7m | $2m | $259000 |
| Enterprise value | $21.1bn | $345m | $42m |
| Multiples | |||
| Price / sales | n/m | n/m | 109.1x |
| Price / earnings | — | — | — |
| Price / free cash flow | — | — | — |
| EV / EBITDA | — | — | — |
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
No analyst estimates are published for Brenx LTD.: too few analysts cover it.
| Calendar year | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|
| Return | ||||
| BRNX | −57% | −78% | −92% | −100% |
| Industry peers (median) | +21% | +2% | +13% | +5% |
| S&P 500 | +26% | +25% | +18% | +11% |
| Months that ended higher | ||||
| BRNX | 25% | 33% | 25% | 9% |
| S&P 500 | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | ||||
| BRNX | −77% | −90% | −97% | −100% |
| S&P 500 | −10% | −8% | −19% | −9% |
Worst fall since May 25, 2022: 100% from May 25, 2022 to November 2, 2026. Getting back needed a 10769131% gain, and the shares have not yet recovered.
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Revenue (TTM) |
|---|---|
| FY21 Q4 | $395K |
| FY22 Q4 | $1.5M |
| FY23 Q4 | $621K |
| FY25 Q4 | $387K |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | Operating margin (TTM) |
|---|---|
| FY21 Q4 | -2752.4% |
| FY22 Q4 | -768.6% |
| FY23 Q4 | -1587.8% |
| FY25 Q4 | -3291.5% |
Source: SEC EDGAR filings. Retrieved Invalid Date.
| Period | FCF margin (TTM) |
|---|---|
| FY21 Q4 | -2164.3% |
| FY22 Q4 | -771.9% |
| FY23 Q4 | -1120.0% |
| FY25 Q4 | -2690.4% |
| Fiscal year | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2025 Dec 2025 |
|---|---|---|---|---|
| Income | ||||
| Revenue | 0 | 2 | 1 | 0 |
| Gross profit | −4 | −0 | −1 | −3 |
| EBITDA | −11 | −11 | −10 | −12 |
| Operating income | −11 | −12 | −10 | −13 |
| Net income | −11 | −11 | −10 | −14 |
| Diluted EPS | −$9.23 | −$7.58 | −$174.63 | −$57.14 |
| Growth (year on year) | ||||
| Revenue | — | +284.8% | −59.1% | −37.7% |
| Margins | ||||
| Gross margin | −934.9% | −24.3% | −150.4% | −829.2% |
| EBITDA margin | <−999% | −752.9% | <−999% | <−999% |
| Operating margin | <−999% | −768.6% | <−999% | <−999% |
| Net margin | <−999% | −729.7% | <−999% | <−999% |
| Free-cash-flow margin | <−999% | −771.9% | <−999% | <−999% |
| Cash flow | ||||
| Cash from operations | −9 | −12 | −7 | −10 |
| Capital spending | 0 | 0 | 0 | 0 |
| Free cash flow | −9 | −12 | −7 | −10 |
| Stock-based pay | 0 | 1 | 2 | 1 |
| Free cash flow after stock pay | −9 | −13 | −9 | −12 |
| Balance sheet | ||||
| Cash | 8 | 7 | 3 | 5 |
| Total debt | 0 | 0 | 5 | 5 |
| Net debt (negative = net cash) | −8 | −7 | 2 | 0 |
| Diluted shares | 1m | 1m | — | — |
| Last 12 months unless stated | BRNX | GCDT | KITT | SPPL | JCSE | INLF | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $387000 | $3m | $4m | $5m | $16m | $18m | $1.4bn |
| Revenue growth, last 12 months | −59.1% | 50.9% | 32.4% | 60.2% | 7.7% | 16.5% | 8.3% |
| Gross margin | −829.2% | 17.3% | −26.9% | 49.6% | 28.5% | 23.3% | 35.2% |
| Operating margin | <−999% | −27.3% | −568.3% | −62.8% | 3.0% | −31.6% | 13.1% |
| Net margin | <−999% | −52.3% | <−999% | −70.8% | 15.9% | −29.6% | 8.9% |
| Cash from operations / revenue | <−999% | −62.0% | −566.8% | −30.6% | 13.2% | −10.3% | 11.9% |
| Free-cash-flow margin | <−999% | −96.2% | −589.6% | −40.1% | 9.1% | −11.3% | 8.8% |
| Stock pay / revenue | 311.9% | — | 31.1% | — | 2.4% | 27.9% | 0.8% |
| Change in share count | 173.3% | 5.8% | — | 63.5% | 0.0% | 32.6% | −0.0% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Gross margin Profitability | -829.2% | 35.4% | 70 of 70 |
| Operating margin Profitability | -3291.5% | 13.0% | 75 of 75 |
| Net margin Profitability | -3593.0% | 8.9% | 76 of 76 |
| Free-cash-flow margin Cash generation | -2690.4% | 9.1% | 76 of 76 |
| Stock pay as % of revenue Cash generation | 311.9% | 0.8% | 70 of 70 |
| Long-term debt as % of assets Balance sheet | 41.4% | 23.4% | 54 of 59 |
| Change in share count Balance sheet | 173.3% | -0.0% | 73 of 73 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
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