(1) Background: A newer class of flowable bulk-fill resin-based composite (BF-RBC) materials requires no capping layer (Palfique Bulk flow, PaBF, Tokuyama Dental, Tokyo, Japan). The objective of this study was to assess the flexural strength, microhardness, surface roughness, and color stability of PaBF compared to two BF-RBCs with different consistencies. (2) Methods: PaBF, SDR Flow composite (SDRf: Charlotte, NC, USA) and One Bulk fill (OneBF: 3M, St. Paul, MN, USA) were evaluated for flexural strength with a universal testing machine, surface microhardness using a pyramidal Vickers indenter, and surface roughness using a high-resolution three-dimensional non-contact optical profiler, a and clinical spectrophotometer to measure the color stability of each BF-RBC material. (3) Results: OneBF presented statistically higher flexural strength and microhardness than PaBF or SDRf. Both PaBF and SDRf presented significantly less surface roughness compared with OneBF. Water storage significantly reduced the flexural strength and increased the surface roughness of all tested materials. Only SDRf showed significant color change after water storage. (4) Conclusions: The physico-mechanical properties of PaBF do not support its use without a capping layer in the stress bearing areas. PaBF showed less flexural strength compared with OneBF. Therefore, its use should be limited to a small restoration with minimal occlusal stresses.