Build-a-bear Workshop vs Therealreal
Therealreal is the larger business, with $693m of revenue in fiscal 2025 against $530m for Build-a-bear Workshop (1.3 times as much). Therealreal grew faster (15.4% against 6.7%). Build-a-bear Workshop kept more of each dollar of sales as profit: a net margin of 9.9% against -6.0%.
| Latest fiscal year | Build-a-bear WorkshopBBW, 2026 | TherealrealREAL, 2025 |
|---|---|---|
| Revenue | $530m | $693m |
| Revenue growth | 6.7% | 15.4% |
| Net income | $52.2m | −$41.8m |
| Operating margin | — | -3.5% |
| Net margin | 9.9% | -6.0% |
| Return on equity | 35.5% | — |
| Free cash flow | $39.5m | $18.4m |
| Cash | $26.8m | $151m |
| Total debt | — | $231m |
| Debt to equity | — | — |
| Dividend per share | — | — |
| Dividend yield | 3.1% | — |
| Share buybacks | $27.7m | — |
| Employees | — | 3,140 |
| Market value | $365m | $1.58bn |
| Price vs our value range | Below our value range | — |
| Moat score | 61 (Moderate) | 47 (Moderate) |
| Insider trades, 12 months | 0 buys, 2 sales | 0 buys, 80 sales |