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Pershing Square vs BRC Group Holdings: PS and RILY compared
Pershing Square is the larger company: $56.6M of revenue in its latest quarter (Q3 2026) against $33.0M for BRC Group Holdings (Q3 2026). Pershing Square is growing faster (-14% against -88% a year earlier). Pershing Square is more profitable, with an operating margin of -35.5% against -423.0%.
Where the money goes: PS and RILY
Pershing Square (PS) · Q3 2026
Pershing Square, Q3 2026: revenue $56.6M (-14% year over year), operating margin -35.5%, net loss $18.4M, operating cash flow $58.4M. The chart follows the revenue to costs, profit and cash.
BRC Group Holdings (RILY) · Q3 2026
BRC Group Holdings, Q3 2026: revenue $33.0M (-88% year over year), operating margin -423.0%, net loss $248M, operating cash flow $104M. The chart follows the revenue to costs, profit and cash.
| Pershing Square (PS) | BRC Group Holdings (RILY) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $56.6M | $33.0M |
| Revenue growth, Y/Y | -14% | -88% |
| Operating margin | -35.5% | -423.0% |
| Net earnings | −$18.4M | −$248M |
| Net margin | -32.5% | -749.9% |
| Operating cash flow | $58.4M | $104M |
| Free cash flow | — | $102M |
Where the revenue comes from
BRC Group Holdings
- Corporate finance, consulting and investment banking fees: $23.1M (70%)
- Commissions, fees and reimbursed expenses: $8.8M (27%)
- Fair value adjustments on loans: $1.2M (4%)
Questions
Which is bigger, Pershing Square or BRC Group Holdings?
Pershing Square is the larger company: $56.6M of revenue in its latest quarter (Q3 2026) against $33.0M for BRC Group Holdings (Q3 2026).
Is Pershing Square or BRC Group Holdings growing faster?
Pershing Square is growing faster (-14% against -88% a year earlier).
Which is more profitable, Pershing Square or BRC Group Holdings?
Pershing Square is more profitable, with an operating margin of -35.5% against -423.0%.
More: Pershing Square earnings · how Pershing Square makes money · BRC Group Holdings earnings · how BRC Group Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.