Brinks (BCO) risk factors, 2025 10-K

Brinks's 2025 10-K lists 25 risk factors in 6 groups. No earlier 10-K is on file to compare against, so the most company-specific risks are read out below.

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Risk factors listed
256 groups
Section length
7k wordsItem 1A

What dominates the section

  • International operations dominate: 70% of 2024 revenue came from outside the U.S., across 100-plus customer countries.
  • Cash-use decline threatens demand for Brink’s cash-management, valuables, and ATM-related services.
  • Regulatory, AML settlement, cybersecurity, labor, and customer-valuables risks could disrupt operations or increase costs.

The risks most specific to Brinks

  • Business Risks

    Decreased use of cash could have a negative impact on our business

    Greater use of non-cash payments could reduce demand for Brink’s cash-management and related services.

  • Operational Risks

    We have significant operations outside the United States

    Brink’s serves customers in more than 100 countries, with subsidiaries in 51 countries and 70% of 2024 revenue outside the U.S.

  • Operational Risks

    We operate in regulated industries, and our failure to comply with the laws regulating our operations, and the costs we may incur to comply, could have a material adverse effect on our business, financial condition, results of operations and cash flows

    Money-services registrations, licenses, and other regulations create compliance costs and enforcement risks for Brink’s Capital and operations.

  • Operational Risks

    We face risks related to our settlement agreements with the U.S. Department of Justice (“DOJ”) and FinCEN, including additional monetary penalties if we fail to comply with the terms of the settlement agreements and costs and burdens associated with our compliance undertakings

    Failure to meet DOJ and FinCEN settlement requirements could trigger additional monetary penalties and costly compliance obligations.

  • Operational Risks

    Labor shortages and increased labor costs could have a material adverse effect on our operations

    Labor shortages and higher wages threaten operations because labor is Brink’s largest operating cost.

  • Financial Risks

    Our earnings and cash flow could be materially affected by increased losses of customer valuables

    Losses of customer valuables could materially affect earnings and cash flow if insurance coverage, deductibles, or premiums become unfavorable.

  • Cybersecurity and Information Technology Risks

    Risks associated with cybersecurity and information technology can expose Brink’s to business disruptions, cybersecurity breaches and regulatory violations

    Cyberattacks or information-technology failures could disrupt Brink’s operations, expose data, and cause regulatory violations.

  • Business Risks

    We have certain environmental and other exposures related to our former coal operations

    Former coal operations may create environmental and other liabilities affecting Brink’s financial condition, results, and cash flows.

  • Financial Risks

    We have significant deferred tax assets in the United States that may not be realized

    Brink’s has $183 million of U.S. deferred tax assets, primarily tied to retirement obligations, that may not be realized.

  • Business Risks

    Our strategy may not be successful

    Brink’s may fail to grow service-line revenue, reduce costs through process improvements, or use IT effectively for tech-enabled services.

All 25 risk factors

Headings as the filing states them, in filing order.

Business Risks

  1. 01Our strategy may not be successful
  2. 02We operate in highly competitive industries
  3. 03Decreased use of cash could have a negative impact on our business
  4. 04We may not be successful in pursuing strategic investments or acquisitions or realize the expected benefits of those transactions because of integration difficulties and other challenges
  5. 05We have certain environmental and other exposures related to our former coal operations
  6. 06We may be exposed to certain regulatory and financial risks related to climate change

Operational Risks

  1. 07We have significant operations outside the United States
  2. 08We operate in regulated industries, and our failure to comply with the laws regulating our operations, and the costs we may incur to comply, could have a material adverse effect on our business, financial condition, results of operations and cash flows
  3. 09We face risks related to our settlement agreements with the U.S. Department of Justice (“DOJ”) and FinCEN, including additional monetary penalties if we fail to comply with the terms of the settlement agreements and costs and burdens associated with our compliance undertakings
  4. 10We may be unable to achieve, or may be delayed in achieving, our initiatives to drive efficiency in controlling costs and managing cash flows
  5. 11Labor shortages and increased labor costs could have a material adverse effect on our operations

Financial Risks

  1. 12We have significant retirement obligations. Poor investment performance of retirement plan holdings and/or lower interest rates used to discount the obligations could unfavorably affect our liquidity and results of operations
  2. 13We have significant deferred tax assets in the United States that may not be realized
  3. 14Our effective income tax rate could change
  4. 15It is possible that our restructuring plans may not achieve their intended results and that we will incur restructuring charges in the future
  5. 16Our inability to access capital or significant increases in our cost of capital could adversely affect our business
  6. 17We are subject to covenants for our credit facilities and our unsecured notes
  7. 18Our earnings and cash flow could be materially affected by increased losses of customer valuables

Cybersecurity and Information Technology Risks

  1. 19Risks associated with cybersecurity and information technology can expose Brink’s to business disruptions, cybersecurity breaches and regulatory violations

Risks Related to the Company’s Securities

  1. 20We cannot guarantee that we will repurchase our common stock pursuant to our share repurchase program or that our share repurchase program will enhance long-term shareholder value. Share repurchases could also increase the volatility of the price of our common stock and could diminish our cash reserves
  2. 21On November 2, 2023, the Board authorized a share repurchase program that will expire on December 31, 2025. Under this program, we are authorized to repurchase shares of common stock for an aggregate purchase price not to exceed $500 million, excluding fees, commissions and other ancillary expenses

General Risks

  1. 22The Company could be negatively affected as a result of the actions of activist or hostile shareholders
  2. 23Negative public perception of our reputation or brand could lead to a loss of revenues or profitability
  3. 24Our business success depends on retaining our leadership team and attracting and retaining qualified personnel
  4. 25Forward-Looking Statements

Other Brinks 10-Ks

  • 2026 10-K risk factors

    25 risks. International operations drive 69% of revenue across 51 countries, exposing the company to global regulatory and currency risks. Fixed asset costs, including armored fleets and secure branches, create severe pricing and competition pressures. Cash-to-digital payment trends threaten the core business model of cash management and secure transport.

    Filed Feb 26, 2026

About this page

Item 1A of the 10-K on EDGAR was split into its risk factors and, where the company's previous 10-K is on file, each heading was matched to last year's and the text compared word for word. The headings are the filing's own. The one-line readings and the overview were written by a language model from the text of the new, dropped, and rewritten risks; they refer to risks by position and cannot misquote a heading.

Brinks (BCO) Risk Factors: 2025 10-K, What Changed | Gloomberb