NYSE : BNED
Barnes & Noble Education, Inc. — Financial statements
Consumer Discretionary · Specialty Retail · United States
Last price 12.67 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 439.21M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Barnes & Noble Education, Inc. (BNED) reported revenue of 1.72B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 1.72B | 1.71B | 1.61B | 1.57B | 1.54B | 1.50B |
| Cost of Revenue | 1.35B | 1.35B | 1.27B | 1.22B | 1.19B | 1.15B |
| Gross Profit | 367.84M | 366.17M | 337.80M | 344.91M | 349.44M | 342.83M |
| Selling, General & Admin | 288.03M | 288.57M | 283.80M | 311.57M | 357.61M | 353.97M |
| Other Operating Expenses | 5.68M | 8.34M | 128.00K | -1.34M | -306.00K | |
| Operating Expenses | 325.43M | 329.67M | 321.87M | 350.80M | 399.77M | 395.79M |
| Operating Income | 42.41M | 36.50M | 15.94M | -5.88M | -50.34M | -52.95M |
| Interest Expense | -14.93M | -15.95M | -22.61M | -41.54M | -23.20M | -10.10M |
| Interest & Investment Income | 95.00K | 86.00K | 350.00K | 1.18M | 518.00K | |
| EBT Excluding Unusual Items | 27.57M | 20.63M | -6.32M | -46.25M | -73.02M | -63.05M |
| Merger & Restructuring Charges | -4.06M | -20.75M | -10.10M | -1.25M | ||
| Asset Writedown | -12.58M | -12.58M | -1.71M | -7.17M | -6.01M | -6.41M |
| Legal Settlements | 12.62M | 12.62M | -1.06M | |||
| Other Unusual Items | -48.42M | |||||
| Pretax Income | 27.61M | 20.67M | -61.57M | -74.16M | -89.13M | -70.71M |
| Income Tax Expense | 5.38M | 3.80M | 4.26M | 858.00K | 1.01M | -9.15M |
| Earnings From Continuing Operations | 22.23M | 16.87M | -65.83M | -75.02M | -90.14M | -61.56M |
| Earnings From Discontinued Operations | -730.00K | -11.72M | -7.30M | |||
| Net Income | 22.23M | 16.87M | -65.83M | -75.75M | -101.86M | -68.86M |
| Net Income to Common | 22.23M | 16.87M | -65.83M | -75.75M | -101.86M | -68.86M |
| Shares Outstanding (Basic) | 34.45M | 34.33M | 26.30M | 2.66M | 524.54K | 517.97K |
| Shares Outstanding (Diluted) | 34.73M | 34.61M | 26.30M | 2.66M | 524.54K | 517.97K |
| EPS (Basic) | 0.65 | 0.49 | -2.50 | -28.45 | -194.19 | -132.94 |
| EPS (Diluted) | 0.65 | 0.49 | -2.50 | -28.45 | -194.19 | -133.09 |
| Free Cash Flow | 48.80M | 33.86M | -98.31M | -19.19M | 66.58M | -32.45M |
| Free Cash Flow Per Share | 1.41 | 0.98 | -3.74 | -7.21 | 126.93 | -62.64 |
| Gross Margin | 21.42% | 21.35% | 20.98% | 22.01% | 22.64% | 22.92% |
| Operating Margin | 2.47% | 2.13% | 0.99% | -0.38% | -3.26% | -3.54% |
| Profit Margin | 1.29% | 0.98% | -4.09% | -4.83% | -6.60% | -4.60% |
| Free Cash Flow Margin | 2.84% | 1.98% | -6.11% | -1.23% | 4.31% | -2.17% |
| EBITDA | 74.12M | 69.25M | 53.88M | 34.68M | -8.15M | -10.44M |
| EBITDA Margin | 4.32% | 4.04% | 3.35% | 2.21% | -0.53% | -0.70% |
| D&A For EBITDA | 31.72M | 32.75M | 37.94M | 40.56M | 42.19M | 42.51M |
| EBIT | 42.41M | 36.50M | 15.94M | -5.88M | -50.34M | -52.95M |
| EBIT Margin | 2.47% | 2.13% | 0.99% | -0.38% | -3.26% | -3.54% |
| Effective Tax Rate | 19.48% | 18.38% | ||||
| Revenue as Reported | 1.72B | 1.71B | 1.61B | 1.57B | 1.54B | 1.50B |
| Advertising Expenses | 4.14M | 5.24M | 5.78M | 9.14M | 9.93M |
Balance sheet
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 7.81M | 8.42M | 9.06M | 10.46M | 14.22M | 8.79M |
| Cash & Short-Term Investments | 7.81M | 8.42M | 9.06M | 10.46M | 14.22M | 8.79M |
| Accounts Receivable | 176.69M | 75.28M | 69.94M | 78.83M | 76.72M | 107.49M |
| Other Receivables | 40.56M | 27.14M | 18.72M | 21.97M | 56.72M | |
| Receivables | 176.69M | 115.85M | 97.08M | 97.55M | 98.69M | 164.21M |
| Inventory | 372.14M | 325.38M | 326.00M | 372.35M | 353.33M | 323.47M |
| Prepaid Expenses | 25.79M | 16.71M | 14.92M | 22.01M | 21.43M | 18.75M |
| Restricted Cash | 11.44M | 17.42M | 17.33M | 17.15M | 15.79M | 10.65M |
| Other Current Assets | 677.00K | 993.00K | 1.29M | 33.55M | 5.84M | |
| Total Current Assets | 593.87M | 484.46M | 465.38M | 520.81M | 537.00M | 531.71M |
| Property, Plant & Equipment | 182.57M | 179.72M | 223.92M | 270.25M | 315.12M | 360.17M |
| Other Intangible Assets | 53.73M | 58.09M | 78.24M | 94.19M | 110.63M | 126.99M |
| Long-Term Deferred Tax Assets | 149.00K | 132.00K | ||||
| Long-Term Deferred Charges | 7.02M | 7.93M | 11.60M | 12.90M | 1.26M | |
| Other Long-Term Assets | 9.39M | 9.69M | 11.14M | 11.81M | 16.63M | 52.69M |
| Total Assets | 846.73M | 739.90M | 790.28M | 909.95M | 980.78M | 1.07B |
| Accounts Payable | 211.00M | 135.56M | 148.85M | 299.16M | 267.92M | 182.62M |
| Accrued Expenses | 68.75M | 70.57M | 55.44M | 87.31M | 72.83M | 76.69M |
| Short-Term Debt | 40.00M | |||||
| Current Portion of Leases | 67.21M | 67.05M | 64.52M | 76.96M | 99.98M | 97.14M |
| Current Unearned Revenue | 10.13M | 10.42M | 10.41M | 11.31M | 11.22M | 11.78M |
| Other Current Liabilities | 10.13M | 7.17M | ||||
| Total Current Liabilities | 357.10M | 283.60M | 279.23M | 474.74M | 462.08M | 415.40M |
| Long-Term Debt | 123.50M | 71.00M | 103.10M | 196.34M | 182.15M | 185.70M |
| Long-Term Leases | 82.50M | 85.45M | 115.50M | 140.63M | 184.75M | 219.59M |
| Long-Term Unearned Revenue | 2.69M | 2.77M | 3.15M | 3.58M | 4.14M | 4.69M |
| Long-Term Deferred Tax Liabilities | 1.14M | 1.96M | 1.97M | 1.43M | ||
| Other Long-Term Liabilities | 2.57M | 2.62M | 15.99M | 12.30M | 14.93M | 16.36M |
| Total Liabilities | 568.36M | 445.46M | 518.10M | 829.55M | 850.03M | 843.18M |
| Common Stock | 347.00K | 345.00K | 341.00K | 6.00K | 551.00K | 542.00K |
| Additional Paid-In Capital | 1.01B | 1.01B | 1.01B | 749.69M | 745.93M | 740.84M |
| Retained Earnings | -708.61M | -695.70M | -712.57M | -646.75M | -593.36M | -491.49M |
| Treasury Stock | -22.56M | -22.56M | -22.56M | -22.55M | -22.38M | -21.51M |
| Shareholders' Equity | 278.37M | 294.44M | 272.19M | 80.40M | 130.75M | 228.37M |
| Total Liabilities & Equity | 846.73M | 739.90M | 790.28M | 909.95M | 980.78M | 1.07B |
| Total Debt | 273.21M | 223.50M | 283.12M | 413.92M | 466.88M | 542.44M |
| Net Cash (Debt) | -265.40M | -215.09M | -274.06M | -403.46M | -452.67M | -533.64M |
| Net Cash Per Share | -7.64 | -6.21 | -10.42 | -151.55 | -862.98 | -1,030.26 |
| Filing Date Shares Outstanding | 34.66M | 34.64M | 34.05M | 26.21M | 527.05K | 520.46K |
| Total Common Shares Outstanding | 34.66M | 34.43M | 34.05M | 532.00K | 526.04K | 520.46K |
| Working Capital | 236.77M | 200.86M | 186.16M | 46.07M | 74.92M | 116.30M |
| Book Value Per Share | 8.03 | 8.55 | 7.99 | 151.13 | 248.56 | 438.79 |
| Tangible Book Value | 224.64M | 236.35M | 193.95M | -13.79M | 20.12M | 101.38M |
| Tangible Book Value Per Share | 6.48 | 6.86 | 5.70 | -25.92 | 38.25 | 194.79 |
| Machinery | 437.75M | 461.19M | 475.69M | 483.06M | 474.08M | |
| Construction In Progress | 1.69M | 1.70M | 2.36M | 4.64M | 3.71M | |
| Leasehold Improvements | 93.28M | 100.87M | 106.76M | 120.69M | 125.32M |
Cash flow statement
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 22.23M | 16.87M | -65.83M | -75.75M | -101.86M | -68.86M |
| Depreciation & Amortization | 31.72M | 32.75M | 37.94M | 40.56M | 42.19M | 42.51M |
| Other Amortization | 3.66M | 3.66M | 5.16M | 13.15M | 3.13M | 1.47M |
| Asset Writedown & Restructuring Costs | 12.58M | 12.58M | 1.71M | 7.17M | 6.01M | 6.41M |
| Stock-Based Compensation | 4.76M | 6.21M | 5.39M | 3.38M | 4.71M | 5.73M |
| Other Operating Activities | -2.72M | -1.14M | 54.40M | 3.51M | 12.13M | -10.11M |
| Change in Accounts Receivable | -14.71M | -18.45M | 761.00K | -6.33M | 43.49M | -15.53M |
| Change in Inventory | 37.31M | 619.00K | 46.35M | -21.76M | -29.86M | -14.10M |
| Change in Accounts Payable | -18.55M | 2.85M | -181.26M | 25.25M | 82.34M | 45.94M |
| Change in Other Net Operating Assets | -11.51M | -5.91M | 9.95M | 9.27M | 28.23M | -9.67M |
| Operating Cash Flow | 64.79M | 50.06M | -85.41M | -5.12M | 91.67M | 1.16M |
| Capital Expenditures | -15.99M | -16.20M | -12.89M | -14.07M | -25.09M | -33.61M |
| Sale of Property, Plant & Equipment | 793.00K | 78.00K | ||||
| Other Investing Activities | 21.39M | -5.95M | -9.05M | |||
| Investing Cash Flow | -15.99M | -16.20M | -12.10M | 7.40M | -31.04M | -42.66M |
| Long-Term Debt Issued | 812.90M | 887.05M | 563.02M | 590.30M | 632.22M | |
| Long-Term Debt Repaid | -845.37M | -949.29M | -552.23M | -631.85M | -584.12M | |
| Net Debt Issued (Repaid) | -46.87M | -32.47M | -62.23M | 10.79M | -41.55M | 48.10M |
| Issuance of Common Stock | 173.45M | 256.00K | ||||
| Repurchase of Common Stock | -5.00K | -176.00K | -864.00K | -2.37M | ||
| Other Financing Activities | -1.90M | -13.54M | -16.32M | -7.26M | -265.00K | |
| Financing Cash Flow | -49.64M | -34.37M | 97.67M | -5.70M | -49.67M | 45.72M |
| Net Cash Flow | -838.00K | -504.00K | 153.00K | -3.42M | 10.95M | 4.22M |
| Free Cash Flow | 48.80M | 33.86M | -98.31M | -19.19M | 66.58M | -32.45M |
| Free Cash Flow Margin | 2.84% | 1.98% | -6.11% | -1.23% | 4.31% | -2.17% |
| Free Cash Flow Per Share | 1.41 | 0.98 | -3.74 | -7.21 | 126.93 | -62.64 |
| Levered Free Cash Flow | 52.93M | 21.41M | -97.63M | 61.33M | 62.66M | -2.39M |
| Unlevered Free Cash Flow | 58.60M | 27.72M | -88.67M | 74.15M | 74.03M | 2.45M |
| Cash Interest Paid | 11.27M | 12.53M | 17.91M | 24.94M | 19.02M | 8.17M |
| Cash Income Tax Paid | 7.99M | 7.92M | 2.13M | -7.29M | -15.22M | -8.01M |
| Change in Working Capital | -7.45M | -20.89M | -124.19M | 6.44M | 124.20M | 6.65M |
Ratios
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 439.21M | 352.22M | 352.80M | 10.57M | 82.06M | 158.22M |
| Enterprise Value | 704.61M | 658.09M | 707.71M | 537.48M | 661.04M | 618.35M |
| Last Close Price | 12.67 | 10.14 | 10.23 | 19.64 | 154.01 | 300.12 |
| PE Ratio | 19.64 | 20.88 | ||||
| Forward PE | 32.42 | 32.42 | 32.42 | 32.42 | 32.42 | |
| PS Ratio | 0.26 | 0.20 | 0.22 | 0.01 | 0.05 | 0.11 |
| PB Ratio | 1.58 | 1.20 | 1.30 | 0.13 | 0.63 | 0.69 |
| P/TBV Ratio | 1.96 | 1.49 | 1.82 | 4.08 | 1.56 | |
| P/FCF Ratio | 9.00 | 10.40 | 1.23 | |||
| P/OCF Ratio | 6.78 | 7.04 | 0.90 | 136.28 | ||
| PEG Ratio | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| EV/Sales Ratio | 0.41 | 0.38 | 0.44 | 0.34 | 0.43 | 0.41 |
| EV/EBITDA Ratio | 9.51 | 9.50 | 13.14 | 15.50 | ||
| EV/EBIT Ratio | 16.62 | 18.03 | 44.41 | |||
| EV/FCF Ratio | 14.44 | 19.43 | 9.93 | |||
| Debt / Equity Ratio | 0.98 | 0.76 | 1.04 | 5.15 | 3.57 | 2.38 |
| Debt / EBITDA Ratio | 1.05 | 0.85 | 1.14 | 1.79 | 2.38 | 2.98 |
| Debt / FCF Ratio | 5.60 | 6.60 | 7.01 | |||
| Net Debt / Equity Ratio | 0.95 | 0.73 | 1.01 | 5.02 | 3.46 | 2.34 |
| Net Debt / EBITDA Ratio | 3.58 | 3.11 | 5.09 | 11.63 | -55.57 | -51.10 |
| Net Debt / FCF Ratio | 5.44 | 6.35 | -2.79 | -21.02 | 6.80 | -16.45 |
| Asset Turnover | 1.91 | 2.24 | 1.89 | 1.66 | 1.50 | 1.42 |
| Inventory Turnover | 3.45 | 4.14 | 3.64 | 3.37 | 3.53 | 3.64 |
| Quick Ratio | 0.52 | 0.44 | 0.38 | 0.23 | 0.24 | 0.42 |
| Current Ratio | 1.66 | 1.71 | 1.67 | 1.10 | 1.16 | 1.28 |
| Return on Equity (ROE) | 8.31% | 5.96% | -37.34% | -71.06% | -50.20% | -23.61% |
| Return on Assets (ROA) | 2.95% | 2.98% | 1.17% | -0.39% | -3.07% | -3.15% |
| Return on Invested Capital (ROIC) | 6.48% | 5.64% | 3.09% | -1.10% | -7.48% | -7.05% |
| Return on Capital Employed (ROCE) | 8.70% | 8.00% | 3.10% | -1.40% | -9.70% | -8.10% |
| Earnings Yield | 5.09% | 4.79% | -18.66% | -716.45% | -124.13% | -43.52% |
| FCF Yield | 11.11% | 9.61% | -27.87% | -181.52% | 81.13% | -20.51% |
| Buyback Yield / Dilution | -10.49% | -31.62% | -887.83% | -407.55% | -1.27% | -4.28% |