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▼ FY 2025 Summary Analysis
Annual report ending Mar 29, 2025Overview and Growth
Fiscal 2025 results for BIRKS GROUP INC. combined $177.81M of revenue with net loss of $12.82M and an operating cash outflow of $1.91M. Revenue of $177.81M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $185.28M in fiscal 2024, revenue decreased 4.0%, a top-line contraction that reduced operating scale. On a per-share basis, diluted EPS was -$0.66, which connects the reported earnings outcome with the company’s diluted share count. The company employed $196.08M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 0.91x, relating the company’s annual revenue directly to the total assets reported at the period end.Profitability
After reported cost of revenue, the company retained $66.31M as gross profit before recognizing operating expenses and other items. Gross margin was 37.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operations produced a $5.54M operating loss before non-operating and tax effects. An operating margin of -3.1% reflected costs exceeding revenue-level gross profit by 3.1% of sales. The company ended the period with a net loss of $12.82M, extending the operating result through all remaining items. Net margin was -7.2%, reflecting a loss equal to 7.2% of reported revenue. EBITDA was $2.20M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. The company recognized $0.00 of income tax for the period, completing the transition from pretax income to net income. Relative to total assets, the net loss represented 6.5%. Compared with a $4.63M net loss in fiscal 2024, the current loss increased to $12.82M.Liquidity and Capital Structure
The company held $196.08M of assets against $214.09M of liabilities and -$18.01M of equity, revealing how the asset base was financed. With total equity at -$18.01M, the company carried a negative book-capital position, increasing its reliance on liabilities and future earnings. Current assets were $126.47M against $149.59M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered only 0.85x of current liabilities, so current liabilities exceeded current assets at period end. Cash and equivalents totaled $1.51M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 1.0%, excluding receivables and other current assets. Borrowings totaled $21.37M, adding a fixed financing obligation alongside the company’s equity capital. Relative to total assets, debt measured 10.9%, showing how much of the asset base was matched by borrowing. Book equity represented -9.2% of total assets, quantifying the balance-sheet share supported by shareholder capital. The liabilities-to-assets relationship was 109.2%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 0.8% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 3.5% lower than fiscal 2024 assets of $203.27M, measuring the company’s own balance-sheet change. Compared with $1.78M in fiscal 2024, the current cash balance moved 15.4% and finished lower.Cash Flow and Earnings Quality
Operating activities used $1.91M of cash, resulting in an operating cash outflow for the year. Capital spending of $7.01M added to the period’s operating cash use, reinforcing the overall cash deficit after investment for the year. Negative free cash flow was $8.92M, leaving a cash deficit after capital spending and reducing financial flexibility. Free-cash-flow margin was -5.0%, reflecting a cash deficit equal to 5.0% of revenue after capital spending. The cash deficit after capital spending represented 4.5% of the period-end asset base.
Based on the annual report for the fiscal year ending Mar 29, 2025.
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