A Business at a Glance
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Barnes & Noble Education, Inc.
BNED
$313M
Mkt Cap
$11.88
+0.42%
Barnes & Noble Education, Inc. (BNED) has a current P/E ratio of 69.9, compared to its historical median P/E of 85.6. The stock is currently considered Cheap based on its historical valuation range.
Barnes & Noble Education, Inc. (BNED) has a 5-year average return on invested capital (ROIC) of -18.1%. This is below average and may indicate limited pricing power.
Barnes & Noble Education, Inc. (BNED) has a market capitalization of $407M. It is classified as a small-cap stock.
Barnes & Noble Education, Inc. (BNED) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.00%.
Based on historical P/E analysis, Barnes & Noble Education, Inc. (BNED) appears cheap. The current P/E of 69.9 is 18% below its historical median of 85.6. The estimated fair value CAGR (P/E method) is -67.2%.
Barnes & Noble Education, Inc. (BNED) operates in the Retail-Miscellaneous Shopping Goods Stores industry, within the Consumer Cyclical sector.
Unless the context otherwise indicates, references to “we,” “us,” “our” and “the Company” refer to Barnes & Noble Education, Inc. or “BNED”, a Delaware corporation. References to “Barnes & Noble College” or “BNC” refer to our subsidiary Barnes & Noble College Booksellers, LLC. References to “MBS” refer to our subsidiary MBS Textbook Exchange, LLC. Our fiscal year is comprised of 52 or 53 weeks, ending on the Saturday closest to the last day of April. “Fiscal 2025” means the 53 weeks ended May 3, 2025, and “Fiscal 2024” means the 52 weeks ended April 27, 2024. Barnes & Noble Education, Inc. (“BNED”) is one of the largest contract operators of physical and virtual bookstores for college and university campuses and K-12 institutions across the United States. We are also one of the largest textbook wholesalers and inventory management hardware and software providers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 1.6B | 1.6B | 1.5B | 1.5B | 1.4B |
| Net Income | 0 | -66M | -76M | -102M | -69M | -140M |
| EPS | $0.00 | $-2.50 | $-56.92 | $-77.22 | $-2.66 | $-5.62 |
| Free Cash Flow | 0 | -98M | -19M | 67M | -32M | 5.3M |
| ROIC | - | 3.1% | -20.1% | -26.2% | -16.9% | -30.5% |
| Gross Margin | - | 21.0% | 22.0% | 22.6% | 22.9% | 16.4% |
| Debt/Equity | 0.00 | 0.48 | 2.88 | 3.62 | 0.99 | 0.65 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 16M | -34M | -66M | -61M | -169M |
| Operating Margin | 0.0% | 1.0% | -2.2% | -4.3% | -4.1% | -12.0% |
| ROE | 0.0% | -26.1% | -44.4% | -56.8% | -27.5% | -40.5% |
| Shares Outstanding | 34M | 26M | 1M | 1M | 26M | 25M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.7B | 1.8B | 1.8B | 1.9B | 2.2B | 2.0B | 1.9B | 1.4B | 1.5B | 1.5B | 1.6B | 1.6B | 0 |
| Gross Margin | 25.0% | 25.0% | 25.1% | 24.5% | 25.3% | 25.9% | 23.9% | 16.4% | 22.9% | 22.6% | 22.0% | 21.0% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 330M | 360M | 374M | 381M | 434M | 424M | 404M | 316M | 354M | 358M | 312M | 284M | 284M |
| EBIT | 58M | 34M | 4.6M | 14M | -263M | -28M | -43M | -169M | -61M | -66M | -34M | 16M | 0 |
| Op. Margin | 3.3% | 1.9% | 0.3% | 0.7% | -11.9% | -1.4% | -2.3% | -12.0% | -4.1% | -4.3% | -2.2% | 1.0% | 0.0% |
| Net Income | 33M | 13M | N/A | 5.4M | -253M | -24M | -38M | -140M | -69M | -102M | -76M | -66M | 0 |
| Net Margin | 1.9% | 0.7% | N/A | 0.3% | -11.5% | -1.2% | -2.1% | -9.9% | -4.6% | -6.6% | -4.8% | -4.1% | 0.0% |
| Non-Recurring | 0 | 0 | 8.9M | 1.8M | 319M | 57M | 19M | 10M | 944K | 10M | 30M | 3.7M | 3.7M |
| Returns on Capital | |||||||||||||
| ROIC | N/A | 3.1% | N/A | 1.1% | -37.8% | -4.6% | -7.6% | -30.5% | -16.9% | -26.2% | -20.1% | 3.1% | N/A |
| ROE | N/A | 1.7% | N/A | 0.8% | -42.7% | -5.3% | -8.8% | -40.5% | -27.5% | -56.8% | -44.4% | -26.1% | 0.0% |
| ROA | N/A | 2.3% | N/A | 0.5% | -21.6% | -2.5% | -3.6% | -11.6% | -5.9% | -9.2% | -7.0% | -6.2% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 51M | 18M | 83M | 68M | 60M | 122M | -8.7M | 33M | 1.2M | 92M | -5.1M | -85M | 0 |
| Free Cash Flow | 12M | -31M | 32M | 33M | 17M | 75M | -45M | 5.3M | -32M | 67M | -19M | -98M | 0 |
| Owner Earnings | 349K | -38M | 24M | 5.3M | -14M | 47M | -77M | -17M | -47M | 45M | -49M | -129M | -43M |
| CapEx | 38M | 48M | 51M | 35M | 43M | 46M | 36M | 28M | 34M | 25M | 14M | 13M | 0 |
| Maint. CapEx | 48M | 51M | 53M | 53M | 66M | 66M | 62M | 45M | 42M | 42M | 41M | 38M | 38M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 48M | 51M | 53M | 53M | 66M | 66M | 62M | 45M | 42M | 42M | 41M | 38M | 38M |
| CapEx/OCF | N/A | N/A | 61.1% | 51.0% | 71.3% | 38.4% | N/A | 113.2% | 2894.7% | 27.4% | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 19M | 9.4M | 1.6M | 2.0M | 1.3M | 894K | 2.4M | 864K | 176K | 5K | 5K |
| Buyback Yield | 0.0% | N/A | 4.3% | 2.0% | 0.5% | 1.2% | 1.6% | 0.2% | 1.8% | 0.0% | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | 2.4M | 4.7M | 6.7M | 9.4M | 8.5M | 9.0M | 6.6M | 4.7M | 5.7M | 4.7M | 3.4M | 5.4M | 5.4M |
| Debt Repayment | 0 | 0 | 3.3M | 2.9M | 0 | 3.4M | 0 | 1.1M | 265K | 7.3M | 16M | 5.6M | 5.6M |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | -29M | 141M | 180M | 119M | 166M | 170M | 217M | 455M | 598M | 132M | 0 |
| Cash & Equiv. | 132M | 45M | 29M | 19M | 16M | 14M | 8.2M | 8.0M | 8.8M | 15M | 12M | 9.2M | N/A |
| Long-Term Debt | N/A | N/A | 0 | 60M | 96M | 34M | 100M | 128M | 186M | 234M | 178M | 141M | 141M |
| Debt/Equity | N/A | 0.50 | 0.00 | 0.22 | 0.42 | 0.30 | 0.42 | 0.65 | 0.99 | 3.62 | 2.88 | 0.48 | 0.00 |
| Interest Coverage | 151.5 | 159.8 | 2.5 | 3.9 | -25.5 | -2.8 | -5.7 | -20.9 | -6.0 | -5.3 | -0.8 | 1.4 | 1.4 |
| Equity | N/A | 727M | 708M | 714M | 468M | 451M | 418M | 272M | 228M | 130M | 211M | 293M | 0 |
| Total Assets | N/A | 1.1B | 1.1B | 1.3B | 1.0B | 946M | 1.2B | 1.3B | 1.1B | 1.1B | 1.0B | 1.1B | 0 |
| Total Liabilities | N/A | 364M | 363M | 586M | 571M | 496M | 739M | 738M | 843M | 1.0B | 816M | 800M | 800M |
| Intangibles | N/A | 198M | 200M | 210M | 219M | 195M | 175M | 151M | 127M | 104M | 85M | 82M | 68M |
| Retained Earnings | 0 | N/A | N/A | N/A | -220M | -245M | -283M | -444M | -491M | -595M | -708M | -690M | -690M |
| Working Capital | N/A | 218M | 188M | 189M | 206M | 183M | 178M | 127M | 116M | 116M | 166M | 225M | 225M |
| Current Assets | 19M | 471M | 446M | 603M | 619M | 591M | 585M | 501M | 532M | 714M | 665M | 749M | 749M |
| Current Liabilities | N/A | 253M | 258M | 413M | 413M | 409M | 407M | 374M | 415M | 598M | 499M | 524M | 524M |
| Per Share Data | |||||||||||||
| EPS | 1.76 | 0.66 | 0.00 | 0.22 | -10.80 | -1.04 | -1.60 | -5.62 | -2.66 | -77.22 | -56.92 | -2.50 | 0.00 |
| Owner EPS | 0.02 | -1.94 | N/A | 0.22 | -0.60 | 2.00 | -3.23 | -0.68 | -1.80 | 33.96 | -36.87 | -4.89 | -1.26 |
| Book Value | N/A | 37.64 | N/A | 29.30 | 20.01 | 19.23 | 17.47 | 10.94 | 8.82 | 98.57 | 158.88 | 11.13 | 0.00 |
| Cash Flow/Share | 2.73 | 0.92 | N/A | 2.79 | 2.57 | 5.20 | -0.36 | 1.32 | 0.04 | 69.49 | -3.85 | -3.24 | 1.11 |
| Dividends/Share | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 18.6M | 19.3M | N/A | 24.4M | 23.4M | 23.4M | 23.9M | 24.9M | 25.9M | 1.3M | 1.3M | 26.3M | 34.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | 85.6 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| P/FCF | N/A | N/A | N/A | 688.6 | 867.1 | 105.7 | N/A | N/A | N/A | 2.7 | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | 87.6 | 44.2 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 25.2 | N/A |
| Price/Book | N/A | N/A | 0.6 | 0.6 | 0.6 | 0.4 | 0.2 | 1.4 | 0.6 | 27.5 | 10.2 | 1.1 | N/A |
| Price/Sales | N/A | N/A | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 3.8 | 2.4 | 0.2 | N/A |
| FCF Yield | N/A | N/A | 7.4% | 7.3% | 5.8% | 47.3% | -56.9% | 1.3% | -25.1% | 1.9% | -0.9% | -31.9% | N/A |
| Market Cap | 0 | N/A | 434M | 459M | 299M | 159M | 79M | 406M | 129M | 3.6B | 2.2B | 308M | 407M |
| Avg. Price | 0.00 | N/A | 1,134.73 | 1,041.15 | 721.21 | 541.95 | 325.69 | 441.22 | 716.27 | 226.19 | 102.20 | 11.45 | 11.88 |
| Year-End Price | 0.00 | N/A | 932.00 | 942.00 | 639.00 | 340.00 | 165.00 | 817.00 | 250.00 | 137.00 | 63.20 | 11.69 | 11.88 |
Barnes & Noble Education, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
Barnes & Noble Education, Inc. trades at 69.9x trailing earnings, compared to its 15-year median P/E of 85.6x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average gross margin is 21.0%. At current prices, the estimated annualized return to fair value is +42.9%.
Barnes & Noble Education, Inc. (BNED) reported annual revenue of $1.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Barnes & Noble Education, Inc. (BNED) has a net profit margin of -4.1%. The company is currently unprofitable.
Barnes & Noble Education, Inc. (BNED) generated $-98 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Barnes & Noble Education, Inc. (BNED) has a debt-to-equity ratio of 0.48. This indicates a conservatively financed balance sheet.
Barnes & Noble Education, Inc. (BNED) reported earnings per share (EPS) of $-2.50 in its most recent fiscal year.
Barnes & Noble Education, Inc. (BNED) has a return on equity (ROE) of -26.1%. A negative ROE may indicate losses or negative equity.
Barnes & Noble Education, Inc. (BNED) has a 5-year average gross margin of 21.0%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 12 years of financial data for Barnes & Noble Education, Inc. (BNED), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Barnes & Noble Education, Inc. (BNED) has a book value per share of $11.13, based on its most recent annual SEC filing.