B Riley (RILY) - Valuation Exercise

[@RomilCPatel]

Any updates here with the price a lot lower? I’m long with a buy write but was wondering what your thoughts are now that we’re at a 15 handle on price.

[@donaldnelson8057]

Thanks for these vids. I wish I had millions of followers to push this to! KZbin is the extent of my "social media". But love the analysis. Thanks again my friend!

[@Ash-zp2pt]

I like your breakdown bro I subscribed 🔥

[@r3a722]

B riley dead now its going private Please make a updated video 🙏

[@nozpleen]

appreciate all the vids you've made on this. what do you make of the FRG Q1 numbers released in that bloomberg article? is a RILY bet basically a bet on amrican freight to recover before 2026 at this point?

[@valuedontlie]

I think RILY is definitely positioned as a FY26 bet... 1) biggest chunk of baby bond maturities come in FY26; 2) FRG is a bet on FY26 w/ American Freight turnaround + asset sales; and 3) BW has FY26 baby bond maturities that make it a FY26 bet too!

[@nozpleen]

@@valuedontlie interesting. AF turnaround would be huge for the stock as you point out, but that entire discount home furnishing sector has been crushed and has shown no signs of life it seems. I used to follow FRG as well and Brian Kahn said the thesis there is a recession would create a new class of discount customers. Problem is the recession didnt come and low income got squeezed, so they have no new buyers and their old buyers dont have spare cash. Its hard to see a magical turnaround in 2 years time to be honest, but it'll be interesting to watch it playout.

[@tomspeed3354]

I doubt they can serve all the debt due in 2026- also Nomura will have enough soon. Franchise group is basically bust also. BK is priced in 2025 or latest by 2026 based on the option pricing of the underyling $rily stock.