Intrinsic value of Brink's - BCO

Previous Close

$77.45

  Intrinsic Value

$182.06

stock screener

  Rating & Target

str. buy

+135%

Previous close

$77.45

 
Intrinsic value

$182.06

 
Up/down potential

+135%

 
Rating

str. buy

We calculate the intrinsic value of BCO stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 3.9

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  10.80
  10.22
  9.70
  9.23
  8.81
  8.42
  8.08
  7.77
  7.50
  7.25
  7.02
  6.82
  6.64
  6.47
  6.33
  6.19
  6.07
  5.97
  5.87
  5.78
  5.71
  5.63
  5.57
  5.51
  5.46
  5.42
  5.37
  5.34
  5.30
  5.27
Revenue, $m
  3,708
  4,087
  4,484
  4,898
  5,329
  5,778
  6,245
  6,730
  7,235
  7,759
  8,304
  8,870
  9,459
  10,072
  10,709
  11,372
  12,063
  12,783
  13,533
  14,316
  15,133
  15,985
  16,876
  17,807
  18,779
  19,796
  20,860
  21,974
  23,139
  24,359
Variable operating expenses, $m
  2,686
  2,955
  3,236
  3,530
  3,836
  4,154
  4,485
  4,830
  5,188
  5,560
  5,890
  6,292
  6,709
  7,144
  7,596
  8,066
  8,556
  9,067
  9,599
  10,154
  10,734
  11,338
  11,970
  12,630
  13,320
  14,042
  14,796
  15,586
  16,413
  17,278
Fixed operating expenses, $m
  672
  687
  702
  718
  734
  750
  766
  783
  800
  818
  836
  854
  873
  892
  912
  932
  953
  974
  995
  1,017
  1,039
  1,062
  1,085
  1,109
  1,134
  1,159
  1,184
  1,210
  1,237
  1,264
Total operating expenses, $m
  3,358
  3,642
  3,938
  4,248
  4,570
  4,904
  5,251
  5,613
  5,988
  6,378
  6,726
  7,146
  7,582
  8,036
  8,508
  8,998
  9,509
  10,041
  10,594
  11,171
  11,773
  12,400
  13,055
  13,739
  14,454
  15,201
  15,980
  16,796
  17,650
  18,542
Operating income, $m
  350
  445
  545
  650
  760
  874
  993
  1,117
  1,247
  1,382
  1,578
  1,724
  1,877
  2,036
  2,201
  2,374
  2,554
  2,743
  2,939
  3,145
  3,360
  3,585
  3,820
  4,067
  4,325
  4,596
  4,880
  5,178
  5,490
  5,817
EBITDA, $m
  513
  619
  731
  847
  969
  1,097
  1,230
  1,368
  1,512
  1,662
  1,818
  1,981
  2,150
  2,327
  2,511
  2,703
  2,903
  3,112
  3,330
  3,559
  3,797
  4,047
  4,308
  4,582
  4,868
  5,168
  5,483
  5,813
  6,159
  6,521
Interest expense (income), $m
  20
  136
  168
  203
  238
  276
  314
  355
  397
  441
  486
  533
  582
  634
  687
  742
  799
  859
  921
  986
  1,054
  1,124
  1,198
  1,275
  1,355
  1,439
  1,526
  1,618
  1,714
  1,814
  1,919
Earnings before tax, $m
  214
  277
  343
  412
  484
  560
  638
  721
  806
  896
  1,045
  1,142
  1,243
  1,349
  1,459
  1,575
  1,695
  1,821
  1,953
  2,091
  2,236
  2,387
  2,546
  2,712
  2,887
  3,070
  3,262
  3,464
  3,676
  3,898
Tax expense, $m
  58
  75
  92
  111
  131
  151
  172
  195
  218
  242
  282
  308
  336
  364
  394
  425
  458
  492
  527
  565
  604
  645
  687
  732
  779
  829
  881
  935
  992
  1,053
Net income, $m
  156
  202
  250
  301
  353
  408
  466
  526
  589
  654
  763
  834
  908
  985
  1,065
  1,150
  1,238
  1,330
  1,426
  1,527
  1,632
  1,743
  1,859
  1,980
  2,107
  2,241
  2,381
  2,529
  2,683
  2,846

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,390
  3,736
  4,099
  4,477
  4,871
  5,281
  5,708
  6,152
  6,613
  7,093
  7,591
  8,108
  8,647
  9,206
  9,789
  10,395
  11,027
  11,685
  12,371
  13,086
  13,833
  14,612
  15,426
  16,277
  17,166
  18,096
  19,068
  20,086
  21,151
  22,266
Adjusted assets (=assets-cash), $m
  3,390
  3,736
  4,099
  4,477
  4,871
  5,281
  5,708
  6,152
  6,613
  7,093
  7,591
  8,108
  8,647
  9,206
  9,789
  10,395
  11,027
  11,685
  12,371
  13,086
  13,833
  14,612
  15,426
  16,277
  17,166
  18,096
  19,068
  20,086
  21,151
  22,266
Revenue / Adjusted assets
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
  1.094
Average production assets, $m
  1,072
  1,181
  1,296
  1,415
  1,540
  1,670
  1,805
  1,945
  2,091
  2,242
  2,400
  2,564
  2,734
  2,911
  3,095
  3,287
  3,486
  3,694
  3,911
  4,137
  4,373
  4,620
  4,877
  5,146
  5,427
  5,721
  6,029
  6,350
  6,687
  7,040
Working capital, $m
  -193
  -213
  -233
  -255
  -277
  -300
  -325
  -350
  -376
  -403
  -432
  -461
  -492
  -524
  -557
  -591
  -627
  -665
  -704
  -744
  -787
  -831
  -878
  -926
  -977
  -1,029
  -1,085
  -1,143
  -1,203
  -1,267
Total debt, $m
  1,531
  1,842
  2,166
  2,505
  2,859
  3,226
  3,609
  4,006
  4,420
  4,849
  5,295
  5,759
  6,241
  6,743
  7,265
  7,808
  8,374
  8,963
  9,578
  10,219
  10,888
  11,586
  12,316
  13,078
  13,875
  14,708
  15,579
  16,491
  17,445
  18,445
Total liabilities, $m
  3,037
  3,348
  3,672
  4,011
  4,364
  4,732
  5,115
  5,512
  5,925
  6,355
  6,801
  7,265
  7,747
  8,249
  8,771
  9,314
  9,880
  10,469
  11,084
  11,725
  12,394
  13,092
  13,822
  14,584
  15,381
  16,214
  17,085
  17,997
  18,951
  19,951
Total equity, $m
  353
  389
  426
  466
  507
  549
  594
  640
  688
  738
  789
  843
  899
  957
  1,018
  1,081
  1,147
  1,215
  1,287
  1,361
  1,439
  1,520
  1,604
  1,693
  1,785
  1,882
  1,983
  2,089
  2,200
  2,316
Total liabilities and equity, $m
  3,390
  3,737
  4,098
  4,477
  4,871
  5,281
  5,709
  6,152
  6,613
  7,093
  7,590
  8,108
  8,646
  9,206
  9,789
  10,395
  11,027
  11,684
  12,371
  13,086
  13,833
  14,612
  15,426
  16,277
  17,166
  18,096
  19,068
  20,086
  21,151
  22,267
Debt-to-equity ratio
  4.340
  4.740
  5.080
  5.380
  5.640
  5.870
  6.080
  6.260
  6.430
  6.570
  6.710
  6.830
  6.940
  7.040
  7.140
  7.220
  7.300
  7.380
  7.440
  7.510
  7.570
  7.620
  7.680
  7.730
  7.770
  7.820
  7.860
  7.890
  7.930
  7.970
Adjusted equity ratio
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104
  0.104

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  156
  202
  250
  301
  353
  408
  466
  526
  589
  654
  763
  834
  908
  985
  1,065
  1,150
  1,238
  1,330
  1,426
  1,527
  1,632
  1,743
  1,859
  1,980
  2,107
  2,241
  2,381
  2,529
  2,683
  2,846
Depreciation, amort., depletion, $m
  163
  174
  185
  197
  210
  223
  236
  250
  265
  280
  240
  256
  273
  291
  309
  329
  349
  369
  391
  414
  437
  462
  488
  515
  543
  572
  603
  635
  669
  704
Funds from operations, $m
  319
  376
  436
  498
  563
  631
  702
  776
  854
  934
  1,003
  1,090
  1,181
  1,276
  1,375
  1,478
  1,586
  1,699
  1,817
  1,940
  2,069
  2,205
  2,346
  2,495
  2,650
  2,813
  2,984
  3,164
  3,352
  3,550
Change in working capital, $m
  -19
  -20
  -21
  -22
  -22
  -23
  -24
  -25
  -26
  -27
  -28
  -29
  -31
  -32
  -33
  -34
  -36
  -37
  -39
  -41
  -42
  -44
  -46
  -48
  -51
  -53
  -55
  -58
  -61
  -63
Cash from operations, $m
  338
  396
  456
  520
  586
  655
  727
  802
  880
  961
  1,031
  1,119
  1,212
  1,308
  1,408
  1,513
  1,622
  1,736
  1,856
  1,981
  2,112
  2,249
  2,393
  2,543
  2,701
  2,866
  3,040
  3,222
  3,413
  3,613
Maintenance CAPEX, $m
  -97
  -107
  -118
  -130
  -142
  -154
  -167
  -180
  -195
  -209
  -224
  -240
  -256
  -273
  -291
  -309
  -329
  -349
  -369
  -391
  -414
  -437
  -462
  -488
  -515
  -543
  -572
  -603
  -635
  -669
New CAPEX, $m
  -103
  -110
  -115
  -120
  -125
  -130
  -135
  -140
  -146
  -152
  -157
  -164
  -170
  -177
  -184
  -192
  -200
  -208
  -217
  -226
  -236
  -246
  -257
  -269
  -281
  -294
  -307
  -322
  -337
  -353
Cash from investing activities, $m
  -200
  -217
  -233
  -250
  -267
  -284
  -302
  -320
  -341
  -361
  -381
  -404
  -426
  -450
  -475
  -501
  -529
  -557
  -586
  -617
  -650
  -683
  -719
  -757
  -796
  -837
  -879
  -925
  -972
  -1,022
Free cash flow, $m
  138
  179
  223
  270
  319
  371
  425
  481
  539
  601
  649
  716
  785
  857
  933
  1,012
  1,094
  1,180
  1,270
  1,364
  1,462
  1,565
  1,673
  1,786
  1,905
  2,029
  2,160
  2,297
  2,441
  2,592
Issuance/(repayment) of debt, $m
  295
  310
  325
  339
  353
  368
  382
  398
  413
  429
  446
  464
  482
  502
  522
  543
  566
  590
  615
  641
  669
  698
  729
  762
  797
  833
  871
  912
  954
  999
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  295
  310
  325
  339
  353
  368
  382
  398
  413
  429
  446
  464
  482
  502
  522
  543
  566
  590
  615
  641
  669
  698
  729
  762
  797
  833
  871
  912
  954
  999
Total cash flow (excl. dividends), $m
  432
  489
  548
  609
  673
  739
  807
  878
  953
  1,030
  1,095
  1,180
  1,267
  1,359
  1,455
  1,555
  1,660
  1,769
  1,884
  2,005
  2,131
  2,264
  2,403
  2,549
  2,702
  2,863
  3,031
  3,209
  3,395
  3,591
Retained Cash Flow (-), $m
  -36
  -36
  -38
  -39
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -58
  -61
  -63
  -66
  -68
  -71
  -74
  -78
  -81
  -85
  -88
  -92
  -97
  -101
  -106
  -111
  -116
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  17
  19
  20
  22
  24
  27
  29
  31
  34
  36
  39
  42
  44
  47
  50
  54
  57
  60
  64
  68
  72
  76
  80
  84
  89
  94
  99
  104
  110
  116
Cash available for distribution, $m
  397
  453
  510
  570
  632
  696
  763
  832
  905
  980
  1,044
  1,126
  1,211
  1,301
  1,394
  1,492
  1,594
  1,701
  1,813
  1,930
  2,053
  2,183
  2,318
  2,460
  2,609
  2,766
  2,930
  3,103
  3,285
  3,475
Discount rate, %
  4.50
  4.73
  4.96
  5.21
  5.47
  5.74
  6.03
  6.33
  6.65
  6.98
  7.33
  7.70
  8.08
  8.49
  8.91
  9.36
  9.82
  10.31
  10.83
  11.37
  11.94
  12.54
  13.16
  13.82
  14.51
  15.24
  16.00
  16.80
  17.64
  18.52
PV of cash for distribution, $m
  380
  413
  441
  465
  484
  498
  506
  509
  507
  499
  479
  462
  441
  416
  388
  357
  324
  291
  257
  224
  192
  162
  135
  110
  88
  69
  53
  40
  30
  21
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

The Brink's Company (Brink's) is a provider of logistics and security solutions. The Company operates through nine segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. The Company's solutions include cash-in-transit (CIT), automated teller machine (ATM) replenishment and maintenance, cash management services, including vault outsourcing, money processing, and intelligent safe services, international transportation of valuables, and payment services. Its customers include financial institutions, retailers, government agencies (including central banks), mints, jewelers and other commercial operations around the world. As of December 31, 2016, the Company's global network served customers in over 100 countries. Its services offerings include Core Services, High-Value Services and Other Security Services.

FINANCIAL RATIOS  of  Brink's (BCO)

Valuation Ratios
P/E Ratio 110.6
Price to Sales 1.3
Price to Book 11.5
Price to Tangible Book
Price to Cash Flow 23.1
Price to Free Cash Flow 69.2
Growth Rates
Sales Growth Rate -1.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 10.9%
Cap. Spend. - 3 Yr. Gr. Rate -8.3%
Financial Strength
Quick Ratio 1
Current Ratio 0.1
LT Debt to Equity 73.3%
Total Debt to Equity 131.5%
Interest Coverage 7
Management Effectiveness
Return On Assets 2.2%
Ret/ On Assets - 3 Yr. Avg. -0.3%
Return On Total Capital 4.2%
Ret/ On T. Cap. - 3 Yr. Avg. -1.4%
Return On Equity 10.7%
Return On Equity - 3 Yr. Avg. -2.5%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 19.7%
Gross Margin - 3 Yr. Avg. 18.7%
EBITDA Margin 9.2%
EBITDA Margin - 3 Yr. Avg. 6.5%
Operating Margin 4.7%
Oper. Margin - 3 Yr. Avg. 1.9%
Pre-Tax Margin 4.1%
Pre-Tax Margin - 3 Yr. Avg. 1.4%
Net Profit Margin 1.2%
Net Profit Margin - 3 Yr. Avg. -0.5%
Effective Tax Rate 62.4%
Eff/ Tax Rate - 3 Yr. Avg. 49.3%
Payout Ratio 57.1%

BCO stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BCO stock intrinsic value calculation we used $3347 million for the last fiscal year's total revenue generated by Brink's. The default revenue input number comes from 2017 income statement of Brink's. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BCO stock valuation model: a) initial revenue growth rate of 10.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.5%, whose default value for BCO is calculated based on our internal credit rating of Brink's, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Brink's.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BCO stock the variable cost ratio is equal to 72.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $658 million in the base year in the intrinsic value calculation for BCO stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 11% for Brink's.

Corporate tax rate of 27% is the nominal tax rate for Brink's. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BCO stock is equal to 0.5%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BCO are equal to 28.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Brink's operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BCO is equal to -5.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $317 million for Brink's - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 51 million for Brink's is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Brink's at the current share price and the inputted number of shares is $3.9 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ Top 4 Small-Cap Stocks for 2018   [Aug-20-18 08:50AM  Investopedia]
▶ Dunbar's red trucks to be 'phased out' within next two years   [Aug-15-18 08:53AM  American City Business Journals]
▶ Brink's Doesn't Look Secure at Current Level   [08:19AM  TheStreet.com]
▶ Brink's Co. closes $520M acquisition of Dunbar Armored   [Aug-13-18 07:26PM  American City Business Journals]
▶ Brinks Receives Regulatory Clearance for Dunbar Acquisition   [Aug-07-18 08:30AM  GlobeNewswire]
▶ Brink's Company to Host Earnings Call   [Jul-25-18 08:30AM  ACCESSWIRE]
▶ Brink's: 2Q Earnings Snapshot   [07:41AM  Associated Press]
▶ Top 3 Growth Stocks for 2018   [Jul-23-18 08:20PM  Investopedia]
▶ Brinks Declares Quarterly Dividend   [Jul-13-18 02:37PM  GlobeNewswire]
▶ Brink's Heading Higher   [Jun-12-18 02:02PM  TheStreet.com]
▶ [$$] Brinks to Buy Cash-Management Firm Dunbar for $520 Million   [May-31-18 08:34PM  The Wall Street Journal]
▶ Armored truck company Brinks makes $520M deal for rival Dunbar   [03:46PM  American City Business Journals]
▶ Family-owned Dunbar Armored's sale to Brink's stuns industry   [02:50PM  American City Business Journals]
▶ Dunbar Armored selling to rival for $520 million   [09:43AM  American City Business Journals]
▶ Brinks to Acquire Dunbar Armored   [06:00AM  GlobeNewswire]
▶ Will This Company's Growth Strategy Drown It In Debt?   [May-08-18 08:34AM  Motley Fool]
▶ Brinks Declares Quarterly Dividend   [May-03-18 04:45PM  GlobeNewswire]
▶ Is It The Right Time To Buy The Brinks Company (NYSE:BCO)?   [Apr-25-18 10:34AM  Simply Wall St.]
▶ Brink's: 1Q Earnings Snapshot   [07:46AM  Associated Press]
▶ Brink's Reports First-Quarter Results   [07:30AM  GlobeNewswire]
▶ Brink's Company to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ The 1 Big Risk With Brink's Company's Growth Strategy   [Feb-18-18 07:12PM  Motley Fool]
▶ Weekly CEO Buys Highlight   [Feb-12-18 10:22AM  GuruFocus.com]
▶ Brink's reports 4Q loss   [08:17AM  Associated Press]
▶ Brink's Company to Host Earnings Call   [06:45AM  ACCESSWIRE]
▶ Does The Brinks Companys (NYSE:BCO) Debt Level Pose A Problem?   [Feb-03-18 06:39PM  Simply Wall St.]
▶ Brinks Declares Quarterly Dividend   [Jan-15-18 12:36PM  GlobeNewswire]
▶ Brinks Incurs Theft Loss   [04:10PM  GlobeNewswire]
▶ Cramer's lightning round: Why Brink's is a buy   [Nov-13-17 07:15PM  CNBC Videos]
▶ ETFs with exposure to The Brinks Co. : November 9, 2017   [Nov-09-17 12:04PM  Capital Cube]
▶ Top 3 Growth Stocks for 2017   [Nov-08-17 10:45AM  Investopedia]
▶ Is There Now An Opportunity In The Brinks Company (BCO)?   [Nov-06-17 01:52PM  Simply Wall St.]
▶ Top 4 Small-Cap Stocks for 2017   [11:59AM  Investopedia]
▶ ETFs with exposure to The Brinks Co. : October 30, 2017   [Oct-30-17 11:26AM  Capital Cube]
▶ Brink's posts 3Q profit   [07:51AM  Associated Press]
▶ Brink's Company to Host Earnings Call   [06:10AM  ACCESSWIRE]
▶ Brink's Closes Senior Notes Offering and Credit Facility   [Oct-20-17 02:14PM  GlobeNewswire]
▶ Brinks Declares Quarterly Dividend   [Oct-17-17 02:49PM  GlobeNewswire]
▶ Brinks Appoints Ray Shemanski as President of U.S. Business   [Oct-16-17 08:30AM  GlobeNewswire]
▶ Brink's Prices $600 Million Senior Notes Offering   [Oct-05-17 06:08PM  GlobeNewswire]
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