Ballistic Recovery Systems

BRSI

Aerospace & Defense · Industrials

Price

$0.00

+0.00 (+0.00%)

Market Cap

$1,133

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2008

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+61.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 6.3M (2003) → 10.2M (2007)

Winston Score History

The full picture

Ballistic Recovery Systems (BRS) makes parachute systems designed to save entire aircraft in emergencies. Instead of ejecting the pilot, these systems deploy a large parachute that lowers the whole plane safely to the ground. The company primarily serves the light aircraft and ultralight aviation market, and its systems are installed on small general aviation planes, including many Cirrus Aircraft models.

BRS earns revenue by selling parachute systems directly to aircraft manufacturers and individual aircraft owners, as well as through installation and maintenance services. The company operates mainly in North America and is a niche player in a specialized corner of the aerospace industry. Its early-mover position and deep integration with Cirrus Aircraft give it some competitive staying power, but the business is small, currently unprofitable, and heavily dependent on a narrow customer base. The key risk is its reliance on light aircraft demand, which is sensitive to economic downturns and discretionary spending cuts.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+23.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-217.0% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$556,314/ year

↑ Rising (+20% vs prior year)

5.9% of revenue

In line with sector average (4%)

R&D investment increasing — building for the future

Insider Activity

3.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$108,738 cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Ballistic Recovery Systems is a rare growth stock that's already generating positive cash flow while growing at 24%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

13.2%

Thin — 13.2% gross margin

Profit after running costs

Operating Margin

-4.3%

Losing money on operations — -4.3%

Return on the money invested

ROCE

-38.8%

Weak — -38.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+15.8%

Fast-growing sales (+15.8% YoY)

Profit growth

EPS YoY

<−1,000%

Earnings shrinking (<−1,000% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-15.8%

Burning cash (-15.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.25

Conservative — low debt load (0.25)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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