Borealis Foods Inc.
BRLS Consumer Defensive Packaged Foods
In the quarter to March 2026, revenue grew 7.63%, EPS grew 20.0%, free cash flow grew 91.2% and total debt fell 98.8%, each against the same quarter a year earlier.
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Borealis Foods Inc. (BRLS) Piotroski F-score
Borealis Foods Inc.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (33.72%) | (40.27%) | Fail | 0 |
| Positive operating cash flow | (6.60m) | (15.09m) | Fail | 0 |
| Rising return on assets | (33.72%) | (40.27%) | Pass | 1 |
| Cash flow above net income | 12.38m | 10.24m | Pass | 1 |
| Falling long-term leverage | 0.01 | 0.54 | Pass | 1 |
| Rising current ratio | 0.12 | 0.46 | Fail | 0 |
| No new shares issued | 21,429,000 | 20,310,000 | Fail | 0 |
| Rising gross margin | 11.67% | 7.91% | Pass | 1 |
| Rising asset turnover | 0.53 | 0.44 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| COOT Australian Oilseeds Holdings Limited compare | 5 |
| BRLS Borealis Foods Inc. | 5 |
| HAIN The Hain Celestial Group, Inc. compare | 5 |
| BOF BranchOut Food Inc. compare | 4 |
| BHST BioHarvest Sciences Inc. compare | 4 |
| JVA Coffee Holding Co., Inc. compare | 4 |
| LSF Laird Superfood, Inc. compare | 3 |
| SRXH SRX Global Inc. compare | — |
| YGFGF YanGuFang International Group Co., Ltd. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover