Brownie's Marine Group, Inc
BWMGAbout the company
Brownie's Marine Group, Inc., together with its subsidiaries, designs, tests, manufactures, and distributes recreational hookah diving, yacht-based self-contained underwater breathing apparatus (scuba) air compressors, nitrox generation systems, and water safety products in the United States and internationally.
Investment snapshot
Positive
4
BUY / PASS
Neutral / negative
1 / 11
NEUTRAL / FAIL
Median fair value
—
No comparable estimates
Models with upside
0 / 17
Positive margin of safety
Strongest signal
10 of 12 pass — Buffett and Marks object
Key risk
All 10 investors flag BWMG's cash flow
Framework analysis
| Verdict | Meaning |
|---|---|
| BUY | Positive purchase signal: the framework's buy requirements are met. |
| PASS | The company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state. |
| NEUTRAL | Neither a positive nor negative conclusion. It does not mean to hold an existing position. |
| FAIL | The company does not clear the framework's requirements. |
| Ranked | Ranked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL. |
Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.
| Metric | Graham Defensive Value | Buffett Quality Compounder | Lynch GARP | Greenblatt Magic Formula | Piotroski F-Score | Dreman Contrarian Value | Munger Quality Focus | Pabrai Dhandho Framework | Akre Three-Legged Stool | Marks Risk-Aware Value | Ackman Activist Value | Templeton Global Bargain Hunter | Sleep Scale Economies Shared | Asness Systematic Factors | Neff Low-P/E Total Return | Schloss Asset-Value Discipline | O'Shaughnessy Systematic Factor Composite |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Verdict | FAIL | FAIL | FAIL | FAIL · Rank #2311 (Top 74.6%) | PASS | PASS | FAIL | FAIL | FAIL | FAIL | FAIL | PASS | FAIL | BUY | FAIL | FAIL | NEUTRAL |
| Score | |||||||||||||||||
| Analysis | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… | Checking access… |
| Intrinsic Value (annual) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |
| Margin of Safety | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Financial Basis | TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Annual history · FY 2025 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-09-30 · TTM ended 2026-09-30 vs 2025-09-30 · TTM ended 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | TTM ended 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-04-10 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-04-10 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 · Qualitative assessment Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-04-10 Score computed: 2026-11-14 | TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Price history 2025-01-01–2026-11-01 · Annual history · FY 2025 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | Annual history · FY 2025 Latest source filing: 2026-04-10 Score computed: 2026-11-14 | Annual history · FY 2025 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14 | TTM ended 2026-09-30 · Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14 |
Where It Passes
- Debt & Leverage83% pass✓ 13✗ 2▾
10 of 12 pass — Buffett and Marks object
LT Debt vs Net Current AssetsLT Debt $0.1M vs NCA $1.9M✓GrahamLT Debt <= Net Current AssetsDebt/Equity & Interest CoverageD/E: 0.02, IC: -1.5x✗BuffettD/E < 0.5 AND Interest Coverage > 5xTotal Debt / Equity0.02✓Lynch< 0.33Cash - Long-term Debt$0.7M✓LynchPositive preferredLT Debt / Total Assets Change0.81% -> 0.60%✓PiotroskiDecreased YoYCurrent Assets / Current Liabilities1.69✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)Total Debt / Shareholders' Equity0.02✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00xDebt Levels0.02✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3Interest Coverage & Debt/EBITDAIC=-1.5x, D/EBITDA=N/A✗MarksInterest Coverage > 3x; Debt/EBITDA < 4xTotal Debt / Shareholders Equity0.02✓Ackman<= 1.0Negative debt-to-equity (higher means less debt)-0.0219; #766/4210 (top 18.2%)✓AsnessTop 30% of eligible cross-section
Where It Falls Short
- Cash Flow0% pass✗ 12▾
All 10 investors flag BWMG's cash flow
Free Cash Flow Proxy$-0.1M✗BuffettPositive and growingFCF Positive and Growing$-0.3M✗LynchPositive and growingOperating Cash Flow$-0.2M✗PiotroskiCFO > 0(CFO / Total Assets) vs ROACFO/Assets=-3.27%, ROA=-2.01%✗PiotroskiCFO/Assets > ROAPrice / (CFO / Shares)N/A (negative CFPS)✗Dreman< 8xP/E or FCF Yield✗PabraiP/E < 15 or FCF Yield > 10%FCF Positive3/14 years FCF positive✗MarksPositive FCF in majority of recent years(OCF - CapEx) / Market Cap✗Ackman>= 4%Price / FCF per Share✗Ackman<= 25Positive Operating Cash Flow frequency3/16 years positive✗SleepPositive OCF in >= 70% of available yearsOperating Cash Flow - Capital Expenditures✗Neff> $0 (app proxy for a strong fundamental case)(Operating cash flow - capex) / market capitalization✗OshaughnessyTop 10% of eligible cross-section - Growth0% pass✓ 1✗ 12▾
No clean pass — all 8 investors flag at least one growth criterion
EPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthBasic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR✗Lynch15-30% (Fast Grower); > 0% to passInventory Growth vs Revenue GrowthInv: 31.0% vs Rev: 9.1%✗LynchInventory growth < Revenue growthEPS Growth Direction✗DremanPositive over recent yearsEPS CAGR✗Dreman> 5% annualizedPositive Net Income Frequency5/18 years positive✗MarksPositive net income in >= 7 of last 10 years3yr Median Revenue Growth-8.0%✗Ackman>= 5%Positive EPS Growth Frequency0/5 years with positive EPS growth✗AckmanPositive EPS growth in >= 3 of last 5 years5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Revenue growth vs. gross and operating margin trendgross margin 27.8% -> 37.4%, operating margin -15.4% -> -2.0%✗SleepRevenue rising; gross margin flat or falling; operating margin holding5-year Revenue CAGR10.5%✓SleepCAGR > 7%3-5 Year Diluted EPS CAGR✗Neff7%-20% annualized - Valuation8% pass✓ 8✗ 20▾
12 of 13 flag BWMG's valuation — Graham, Lynch, Greenblatt +9 more
Price / Book Value per Share0.9x✓Dreman< 1.2x✓Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)Price / 3-yr avg EPS✗Graham<= 15xPrice-to-Book Ratio0.9x✓Graham<= 1.5xP/E x P/B✗Graham<= 22.5Basic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)EBIT / Enterprise Value-20.0%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=-20.0%, ROC=-18.8%✗GreenblattBoth EY > 10% and ROC > 25%Price / EPS✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)Price / (CFO / Shares)N/A (negative CFPS)✗Dreman< 8xValuation ReasonablenessOE Yield=2.0%✗MungerP/E < 25 or Owner Earnings Yield > 5%P/E or FCF Yield✗PabraiP/E < 15 or FCF Yield > 10%P/B or P/E vs. Historical AverageP/B=0.9x✓MarksP/E < 15 or P/B < 2.0Discount to Intrinsic ValueN/A (negative normalized EPS)✗Marks>= 20% below intrinsic valuePrice / FCF per Share✗Ackman<= 25Price vs. Trailing Low1750% of trailing low ($0.00)✗Templeton<= 120% of trailing low (certified split-adjusted live window)Net income / market capitalization+68.71%; #113/6340 (top 1.8%)✓AsnessTop 30% of eligible cross-section✓OshaughnessyTop 10% of eligible cross-sectionPositive book equity / market capitalization+1.6835; #798/6449 (top 12.4%)✓AsnessTop 30% of eligible cross-sectionPrice / Diluted EPS✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)(EPS CAGR % + Dividend Yield %) / P/E✗Neff> 0.7 (Neff's published traditional edge)Price / Tangible Book Value per Share1.42x✗SchlossP/TBV <= 1.00x (app cutoff)Book Value per Share Change+101.6%✓SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)Revenue / market capitalization+4.3411; #608/5247 (top 11.6%)✗OshaughnessyTop 10% of eligible cross-section(Operating cash flow - capex) / market capitalization✗OshaughnessyTop 10% of eligible cross-sectionTrailing six-month price return through the evaluation date-41.67%; #4864/6202 (top 78.4%)✗OshaughnessyTop 10% of eligible cross-section - Profitability19% pass✓ 11✗ 24▾
13 of 16 flag BWMG's profitability — Graham, Buffett, Lynch +10 more
Positive EPS (10 years)3/19 years positive✗GrahamPositive EPS every year for 10 yearsEPS Growth (3-yr avg, 10-yr window)✗Graham>= 33% growthNet Income Positive (10+ years)5/19 years positive✗BuffettPositive every year for 10+ yearsROE (up to 5-year arithmetic mean)-46.9%✗Buffett> 15% arithmetic mean (app rule)Operating Margin (10-yr trend)-2.0% (latest)✗BuffettStable or rising over 10 yearsFree Cash Flow Proxy$-0.1M✗BuffettPositive and growingEarnings Variance (10-yr CoV)✗BuffettCoV < 0.3Retained Earnings Effectiveness✗Buffett$1 retained -> > $1 market value createdBasic earnings-growth PEG (dividends excluded)✗Lynch< 1.0 (ideally < 0.5)3-5 Year EPS CAGR✗Lynch15-30% (Fast Grower); > 0% to passROE40.8%✓Lynch> 15%EBIT / Enterprise Value-20.0%✗Greenblatt> 10%Earnings Yield + ROC AssessmentEY=-20.0%, ROC=-18.8%✗GreenblattBoth EY > 10% and ROC > 25%Net Income / Total Assets-2.01%✗PiotroskiROA > 0ROA Change YoY-4.17% -> -2.01% (delta: +2.16%)✓PiotroskiCurrent ROA > Prior ROA(CFO / Total Assets) vs ROACFO/Assets=-3.27%, ROA=-2.01%✗PiotroskiCFO/Assets > ROAGross Margin Change YoY40.4% -> 37.4%✗PiotroskiImproved YoYPre-Tax Income / Revenue16.0%✓Dreman>= 8%Net Income / Shareholders' Equity40.8%✓Dreman> 12%Margin of SafetyP/B=0.9x✓PabraiP/B < 1.5 or P/E < 15Return on Equity-33.0% (3-yr avg)✗AkreROE > 20% (3-year avg)Discount to Intrinsic ValueN/A (negative normalized EPS)✗Marks>= 20% below intrinsic valuePositive Net Income Frequency5/18 years positive✗MarksPositive net income in >= 7 of last 10 yearsOperating Income / Revenue-2.9%✗Ackman>= 15%Net Income / Shareholders Equity40.8%✓Ackman>= 15%5-Year EPS CAGR✗Templeton> 0% (5-year EPS CAGR)Operating Margin Trend-15.4% (2023) -> -2.0% (2025)✓TempletonNon-negative operating-margin trend over 3 yearsRevenue growth vs. gross and operating margin trendgross margin 27.8% -> 37.4%, operating margin -15.4% -> -2.0%✗SleepRevenue rising; gross margin flat or falling; operating margin holdingNet income / market capitalization+68.71%; #113/6340 (top 1.8%)✓AsnessTop 30% of eligible cross-section✓OshaughnessyTop 10% of eligible cross-sectionGross profit / total assets+48.08%; #709/3702 (top 19.2%)✓AsnessTop 30% of eligible cross-sectionNet income / positive book equity+40.81%; #281/5226 (top 5.4%)✓AsnessTop 30% of eligible cross-sectionNegative 5-year standard deviation of ROA-0.1405; #3878/5884 (top 65.9%)✗AsnessTop 30% of eligible cross-section3-5 Year Diluted EPS CAGR✗Neff7%-20% annualizedPositive Diluted-EPS Years0/10 years positive✗Schloss>= 70% positive over 5-10 observed years (app rule) - Efficiency25% pass✓ 3✗ 8▾
6 of 8 flag BWMG's efficiency — Graham, Buffett, Greenblatt +3 more
Current Ratio1.69✗Graham>= 2.0ROIC (3-5 yr avg)-41.7%✗Buffett> 10%ROIC - WACC-51.7%✗BuffettPositive (WACC = 10%)EBIT / (NWC + Net Fixed Assets)-18.8%✗Greenblatt> 25%Current Ratio Change YoY1.06 -> 1.24✓PiotroskiIncreased YoYRevenue / Total Assets Change YoY1.42x -> 1.44x✓PiotroskiImproved YoYCurrent Assets / Current Liabilities1.69✓Dreman> 1.5Return on Invested Capital-5.8%✗Munger> 15%ROIC (high and growing)FY2023: ROIC=-53.3%; FY2024: ROIC=-6.8%; FY2025: ROIC=-5.9%✗AkreLatest 3 consecutive FYs: ROIC > 15% in eachReinvestment Rate x ROICN/A (non-positive net income)✗AkreReinvestment Rate * ROIC > 10%ROIC (5-year)0/5 years above 12% (latest -5.9%)✗SleepROIC > 12% in a majority of years - Verdicts25% pass✓ 4✗ 12▾
Split decision: 11 FAIL · 3 PASS · 1 BUY · 1 NEUTRAL
Overall verdict✗GrahamFAIL (2/9)✗BuffettFAIL (0/9)✗LynchFAIL (3/7)✗GreenblattRank #2311✓PiotroskiPASS (F-Score 4)✓DremanPASS (5/11)✗MungerFAIL (1/4)✗PabraiFAIL (1/3)✗AkreFAIL (1/6)✗MarksFAIL (1/5)✗AckmanFAIL (3/9)✓TempletonPASS (4/8)✗SleepFAIL (2/6)✓AsnessBUY (Rank #398/2370 (Top 16.8%))✗NeffFAIL (1/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked)
Business & financials
Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.
Company Profile
Financial Snapshot
Shareholder Return
Fiscal 2025
Issued 11.9% of shares last year, 14.5% issued over two.
- Buybacks
- —
- Dividends
- —
Company Financials
Latest TTM and quarters alongside annual years
TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.
The latest annual period end is unavailable. Showing the latest fiscal cycle’s quarters; quarter and annual columns may overlap. Quarterly shows the full quarter history.
| Metric | TTM · 2026-09-30 2025-10-01 – 2026-09-30 Sources · derived quarter valuesDerived from cumulative filings: revenue, net income, operating income, gross profit, ebit, pre tax income, interest expense, operating cash flow, depreciation amortization. | Q3 FY 2026 2026-07-01 – 2026-09-30 Sources · derived quarter valuesDerived from cumulative filings: operating cash flow, depreciation amortization. | Q2 FY 2026 2026-04-01 – 2026-06-30 Sources · derived quarter valuesDerived from cumulative filings: revenue, operating cash flow, depreciation amortization. | Q1 FY 2026 2026-01-01 – 2026-03-31 Sources | FY 2025Sources
| FY 2024Sources
| FY 2023Sources
| FY 2022Sources
| FY 2021Sources
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|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0Mcurrent | -- | -- | -- | $3.3Mest. | $4.5Mest. | $4.6Mest. | $10.3Mest. | $13.0Mest. |
| Revenue | $8.5M↑9% | $2.6M↑28% | $2.4M↓6% | $2.1M↑38% | $7.5M↓8% | $8.2M↑8% | $7.6M↓12% | $8.6M↑38% | $6.2M |
| Operating Income | -$249.2K↓362% | $310.7K↑134% | -$151.1K↓217% | -$44.4K↑2% | -$147.3K | -$146.7K↑87% | -$1.2M↑37% | -$1.9M | -$1.9M |
| Net Income | $1.4M↑922% | $659.7K↑244% | $580.5K↑278% | $493.0K↑1005% | -$105.1K↑56% | -$240.6K↑81% | -$1.2M↑34% | -$1.9M↓19% | -$1.6M |
| EPS (Diluted) | -- | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Gross Margin | 48.3%↑25% | 51.6%↑11% | 55.5%↑58% | 46.4%↑41% | 37.4%↓8% | 40.4%↑45% | 27.8%↓15% | 32.6%↑7% | 30.3% |
| Operating Margin | -2.9%↓340% | 11.8%↑83% | -6.4%↓224% | -2.1%↑29% | -2.0%↓9% | -1.8%↑88% | -15.4%↑28% | -21.6%↑27% | -29.8% |
| ROE | 40.8%↑488% | — | — | — | -5.4%↑64% | -15.2%↑81% | -78.3%↓4% | -75.0%↓24% | -60.5% |
| Total Debt | $72.4K↑21% | $72.4K↑21% | $76.6K↓5% | $63.4K↓40% | $46.7K↓60% | $117.1K↓16% | $140.0K↓66% | $409.4K↑5% | $389.7K |
| Shareholders' Equity | $3.3M↑74% | $3.3M↑74% | $2.7M↑63% | $2.4M↑60% | $1.9M↑22% | $1.6M↓1% | $1.6M↓37% | $2.5M↓4% | $2.6M |
| Current Ratio | 1.69↑40% | 1.69↑40% | 1.54↑39% | 1.44↑36% | 1.24↑17% | 1.06↓3% | 1.09↓40% | 1.82↓14% | 2.12 |
| Debt / Equity | 0.02↓31% | 0.02↓31% | 0.03↓42% | 0.03↓62% | 0.02↓67% | 0.07↓16% | 0.09↓46% | 0.16↑9% | 0.15 |
| Operating Cash Flow | $478.8K↑374% | $178.5K↑587% | -$153.8K↓201% | $686.6K↑693% | -$170.6K↑42% | -$293.4K↑22% | -$374.8K↑45% | -$678.4K↑12% | -$769.5K |
| Free Cash Flow | -- | -- | -- | -- | -- | -$293.5K↑28% | -$404.8K↑41% | -$689.4K↑13% | -$793.1K |
Score history
Historical Score Timeline
Industry peers
Industry Peers
Similar companies in Recreation
BWMG vs Peers — Financial Grading
| Company | Market Cap | Price | Revenue | Net Income | ROE | D/E | Op. Margin | Curr. Ratio | Graham | Buffett | Lynch | Greenblatt | Piotroski | Dreman |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sony Group CorpSONY | $157.8B | $27.07 | $86.6B | $7.6B | 14.0% | 0.48 | 10.9% | 0.70 | 2/9 | 6/9 | 1/7 | 0/3 | F-Score 6 | 4/11 |
| HASBRO, INC.HAS | $16.9B | $120.55 | $5.4B | $322.4M | -57.0% | 5.77 | 0.2% | 1.38 | 2/9 | 1/9 | 3/7 | 1/3 | F-Score 5 | 3/11 |
| Acushnet Holdings Corp.GOLF | $4.7B | $82.94 | $2.6B | $188.5M | 24.1% | 1.18 | 11.7% | 2.38 | 2/9 | 5/9 | 3/7 | 1/3 | F-Score 5 | 4/11 |
| MATTEL INC /DE/MAT | $4.3B | $15.12 | $5.3B | $397.6M | 17.8% | 1.04 | 10.2% | 2.15 | 3/9 | 3/9 | 4/7 | 1/3 | F-Score 5 | 6/11 |
| Callaway Golf CoCALY | $3.1B | $17.10 | $2.1B | $409.3M | -19.8% | 0.68 | 6.2% | 1.36 | 3/9 | 1/9 | 2/7 | 1/3 | F-Score 5 | 4/11 |
| YETI Holdings, Inc.YETI | $2.9B | $39.42 | $1.9B | $165.4M | 25.4% | 0.11 | 11.4% | 1.98 | 3/9 | 6/9 | 5/7 | 1/3 | F-Score 6 | 7/11 |
| Knowles CorpKN | $2.8B | $33.00 | $593.2M | $44.2M | 5.7% | 0.15 | 11.9% | 2.75 | 3/9 | 2/9 | 2/7 | 1/3 | F-Score 7 | 4/11 |
| PELOTON INTERACTIVE, INC.PTON | $2.5B | $5.70 | $2.4B | $63.2M | -45.2% | -2.54 | 6.6% | 2.84 | 2/9 | 1/9 | 3/7 | 1/3 | F-Score 8 | 4/11 |