BrilliA Inc. Class A (BRIA) AI Stock Analysis

• Market Cap: $49.75M
• Dividend Yield: 8.21%
• Average Volume (3M): 9.01K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.62
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 194
• Sector: Technology
• Sector Strength: 88
• Industry: Industrial - Distribution
• EPS (TTM): N/A
• Shares Outstanding: 25,000,000
• 10 Day Avg. Volume: 11,209
• 30 Day Avg. Volume: 9,010
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: -0.12
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: $2.00 ▲(1.52% Upside)

The score is driven primarily by mixed financial performance: strong balance-sheet flexibility and improved FY2025 revenue growth are offset by two years of negative cash flow and margin compression. Technicals are modestly weak (below key longer-term moving averages with negative MACD), while valuation support comes mainly from the high dividend yield.

Positive Factors

Low leverage / strong balance sheet

Very low debt-to-equity (~0.09) and a sizable equity base provide durable financial flexibility. This reduces refinancing and interest-rate vulnerability, allowing the company to fund working capital, strategic investments, or cyclical setbacks without immediate reliance on risky external financing.

Revenue re-acceleration

A return to 15.3% revenue growth in FY2025 indicates a substantive recovery in demand or stronger commercial execution. Sustained top-line momentum supports operating leverage, makes internal funding of initiatives more feasible, and improves the probability of durable margin recovery and cash generation.

Solid return on equity

ROE around 15.6% signals effective deployment of shareholder capital and decent profitability versus invested equity. Persistent mid‑teen ROE supports the company’s ability to reinvest, sustain dividends or buy growth, assuming earnings stability, making it a durable indicator of capital efficiency.

Negative Factors

Negative operating and free cash flow

Two consecutive years of negative operating and free cash flow point to cash conversion or working-capital strain. If sustained, this raises funding risk, can force reliance on external financing, and constrains the company’s ability to invest, de-lever, or maintain distributions over the medium term.

Margin compression

Material margin deterioration (net margin down to ~4.4%) suggests rising input costs or pricing pressure that reduce earnings durability. Lower margins shrink the buffer against cyclical revenue drops, impair cash flow resilience, and make it harder to fund growth or recover profitably without structural cost fixes.

Volatile revenue history

Sharp multi-year swings in revenue reflect exposure to cyclical end-markets, demand volatility, or customer concentration. This undermines forecasting accuracy and long-term planning, complicates capital allocation decisions, and increases execution risk in sustaining margins and cash generation across 2–6 month horizons.

BrilliA Inc. Class A Business Overview & Revenue Model

Company Description

BrilliA, Inc. is a holding company, which engages in the sale of women’s lingerie and apparel through its subsidiaries. Its products include brassiere, bodysuits, and lingerie. The company was founded by Salim Podiono on July 14, 2023 and is headquartered in Singapore.

How the Company Makes Money

BrilliA Inc. Class A Financial Statement Overview

Summary

Revenue growth improved in FY2025 (+15.3%), and the balance sheet is conservatively levered (debt-to-equity ~0.09) with solid ROE (~15.6%). However, margins have compressed and cash generation is the key weakness: operating cash flow and free cash flow were negative in FY2025 (-$4.5M OCF, -$4.6M FCF) following slightly negative FY2024, signaling cash conversion pressure.

Income Statement

Revenue growth re-accelerated in FY2025 (+15.3%) after a modest FY2024 (+5.5%) and a sharp FY2023 decline (-25.4%), indicating improving top-line momentum but with volatility. Profitability remains positive, though margins have compressed versus prior years: FY2025 gross margin ~16.2% and net margin ~4.4% (down from ~8.2% in FY2023). Operating profitability is still reasonable for the business (FY2025 EBIT margin ~6.4%), but the trajectory suggests rising costs and/or pricing pressure.

Balance Sheet

The balance sheet appears conservatively levered, with low debt relative to equity in FY2025 (debt-to-equity ~0.09) and a sizable equity base. Returns on equity are strong across the period (FY2025 ~15.6%), although they have stepped down meaningfully from exceptionally high levels in FY2022–FY2024. Overall, financial flexibility looks good, with leverage not currently a key risk.

Cash Flow

Cash generation weakened materially: FY2025 operating cash flow was negative (-$4.5M) and free cash flow was also negative (-$4.6M), a significant deterioration from strong positive free cash flow in FY2023 (~$11.0M). FY2024 cash flow was also slightly negative. While earnings remain positive, the recent pattern suggests working-capital or cash conversion pressure, increasing funding risk if sustained.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	64.39M	55.87M	52.94M	70.92M
Gross Profit	10.43M	8.54M	9.14M	9.89M
EBITDA	4.58M	3.99M	5.26M	5.84M
Net Income	2.82M	3.28M	4.34M	4.78M
Balance Sheet
Total Assets	28.41M	27.15M	22.20M	24.93M
Cash, Cash Equivalents and Short-Term Investments	7.70M	6.38M	8.91M	4.36M
Total Debt	1.68M	0.00	0.00	0.00
Total Liabilities	10.33M	19.01M	15.71M	16.30M
Stockholders Equity	18.06M	8.13M	6.50M	8.63M
Cash Flow
Free Cash Flow	-4.59M	-177.47K	11.04M	3.59M
Operating Cash Flow	-4.52M	-177.47K	11.04M	3.59M
Investing Cash Flow	-887.00K	0.00	0.00	-4.89K
Financing Cash Flow	6.71M	-2.78M	-6.49M	-4.97M

BrilliA Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DXPE	77 Outperform	$2.04B	25.50	19.58%	―	12.76%	36.11%
GIC	77 Outperform	$1.18B	17.40	22.61%	3.48%	0.16%	2.99%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BRIA	61 Neutral	$49.75M	―	―	8.21%	―	―
DSGR	61 Neutral	$1.31B	-122.54	-1.68%	―	14.46%	-588.82%
EVI	54 Neutral	$370.41M	63.85	3.77%	―	12.63%	-21.23%
TITN	51 Neutral	$380.23M	-6.20	-9.63%	―	-8.92%	-304.76%