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Barnes & Noble Education, Inc. (BNED) stock

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NYSE: BNED NYSE Other Specialty Retail Next results ~December 10, 2026

C Fundamentals grade

Barnes & Noble Education, Inc. is a US-listed company in the other specialty retail industry. Its financial year ends in April.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$21

Revenue-to-maturity cash-flow model

Base case. Range ~$16–$26 across our lower- and higher-growth cases (0%–10% a year).

Price vs value

No Buy/Hold/Sell rating is issued: only 2 valuation models apply; a rating needs 3.

Barnes & Noble Education, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 11 sales by directors and officers, last 12 monthsInsider trades
  • Funds62 adding, 38 cuttingOf 21 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Barnes & Noble Education files

Where Barnes & Noble Education stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $1.72bn, up 5.0% on a year earlier, slower than the 6.5% growth a quarter earlier. Free-cash-flow margin rose to 2.8% from -1.4% a year earlier. The diluted share count is up 10.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 4 of our 6 financial-health checks.

Source: 10-Q filed September 8, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 10, 2026 (estimated)

Barnes & Noble Education, Inc.'s trailing-twelve-month revenue grew 5.0% year on year, with a free-cash-flow margin of 2.8%. Where it stands out: stock pay as % of revenue of 0.3% ranks 5 of 30 other specialty retail companies we cover. Where it lags: gross margin of 21.4% ranks 29 of 31 other specialty retail companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 27% in the quarter to 2026-07-31, the 2nd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Barnes & Noble Education, Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Share dilution. Diluted shares rose 10.9% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 66% and a beta of 1.6 against the S&P 500.
  • Below peers: gross margin. Gross margin of 21.4% ranks 29 of 31 other specialty retail companies we cover (median 36.5%).
  • Below peers: days sales outstanding. Days sales outstanding of 38 days ranks 17 of 20 other specialty retail companies we cover (median 13 days).

Latest results: FY2027 Q1

Filed September 8, 2026
Earnings per share
-$0.37 against an average estimate of -$0.51: beat by 26.7%
Revenue
$291m, up 0.8% on a year earlier
Share reaction
-14.9% in the first session after the results on September 8, 2026, against -1.0% for the S&P 500
Guidance given
adjusted EBITDA $85m to $92m (fiscal 2027); capital expenditures $20m (fiscal 2027)
Next report
December 10, 2026; average EPS estimate $1.05

Barnes & Noble Education's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.5%
  • 1 week-6.5%
  • 1 month+9.4%
  • This year+40.3%
  • 1 year+41.2%
  • 5 years-98.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.7B
Operating margin
2.5%
Net margin
1.3%
EPS (TTM, diluted)
$0.64

Growth

Revenue growth
+5.0%
Change in growth rate
−1.5 pts
Share count change
+10.9%

Cash

Free cash flow (TTM)
$48.8M
FCF margin
2.8%
Stock pay % of revenue
0.3%

Earnings

Last results
September 8, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Announcement
  3. Shareholder vote
  4. Dividend
  5. Announcement
  6. Results
  7. Guidance
  8. Product
  9. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Barnes & Noble Education, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 2 valuation models apply; a rating needs 3.

Valuation models

We value Barnes & Noble Education, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.27 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$21 ~$16–$26 Left out: far from the other models (more than 3x away from their median)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$6.2 ~$5.5–$14 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$3.4 ~$7.5–$39 Included, half weight
Combined value Weighted average of the models that apply: the primary model (revenue-to-maturity model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$5.2 ~$3.4–$6.2 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Barnes & Noble Education, Inc. with Other Specialty Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$924.05$1027.71$732.53$434.38$166.84$780.90$300.12$154.01$19.65$10.23$10.14$12.73
Market value$216m$242m$172m$103m$40m$195m$78m$4.1bn$523m$269m$351m$442m
+ Net debt (− = net cash)−$29m$141m$180m$119m$166m$170m$217m$168m$187m$94m$63m$116m
Enterprise value$187m$382m$353m$223m$207m$365m$295m$4.2bn$710m$363m$414m$558m
Multiples
Price / sales 0.1x0.1x0.1x0.1x0.0x0.1x0.1x2.6x0.3x0.2x0.2x0.3x
Price / earnings n/m45.1x————————20.8x19.9x
Price / free cash flow 6.7x7.3x10.0x1.4x—36.6x—61.0x——10.4x9.1x
EV / EBITDA 3.3x5.7x—5.8x10.8x———105.0x6.7x6.0x7.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

28 /100

Weak moat

How hard Barnes & Noble Education's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -5.1% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 22.4%, moving by 2.3 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -2.6%; its worst year was -11.7%.

  • Cash conversion 5 / 20

    Free cash flow was positive in 5 of 10 years, at a median -0.7% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 136833.3% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (33 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 10, 2026, after the close. Analysts expect revenue of $673m and EPS of $1.05 (range $1.05 to $1.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.89 +81% $1.8bn +3%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +14.2% on 90 days ago. In the last 30 days, 2 analysts raised Barnes & Noble Education, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Barnes & Noble Education, Inc., last 90 days
$0.75 $0.80 $0.85 $0.90 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.78 Current fiscal year, 60 days ago: $0.78 Current fiscal year, 30 days ago: $0.89 Current fiscal year, 7 days ago: $0.89 Current fiscal year, Now: $0.89 $0.89

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal year
90 days ago $0.78
60 days ago $0.78
30 days ago $0.89
7 days ago $0.89
Now $0.89

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 −$0.51 −$0.37 +26.7%
Apr 2026 $0.09 $0.10 +11.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 8, 2026
  • Adjusted EBITDA fiscal 2027 $85m to $92m Non-GAAP Maintained
    “The Company is targeting Adjusted EBITDA in the range of $85 million to $92 million and anticipates further significant improvements in net income profitability.” source
  • capital expenditures fiscal 2027 about $20m Maintained
    “The Company anticipates approximately $20 million in capital expenditures and should be a normal cash taxpayer in fiscal 2027.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

2 analysts, Nov 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Nov 2026112
  2. Oct 2026112
  3. Sep 2026112

Counts of recommendations published by analysts covering Barnes & Noble Education, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.7%
of tradable shares
Days to cover
8.11
at average volume
Short interest, 1 month
+12%
to October 15, 2026
Held by institutions
93%
of shares
Held by insiders
7.1%
of shares
Employees
2,365
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +41.2%

$9.01 on October 31, 2025 to $12.73

ThenNowEffect
Revenue (last 12 months) $1.6bn $1.7bn +5.0%
Net margin 1.2% 1.3% +6.7%
P/E multiple 14.2x 19.9x +39.7%
Share count 31m 35m −9.8%

Biggest factor: p/e multiple.

Last 3 years −88.2%

$107.61 on November 3, 2023 to $12.73

ThenNowEffect
Revenue (last 12 months) $1.6bn $1.7bn +10.5%
P/S multiple 1.8x 0.3x −85.9%
Share count 26m 35m −23.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
BNED+47%−74%−15%−93%−9%+40%
Industry peers (median)+42%−27%+3%−20%−11%−21%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
BNED58%17%42%50%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
BNED−46%−80%−68%−97%−50%−23%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 100% from November 27, 2015 to July 1, 2024. Getting back needed a 24851% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$6.04 – $13.95
From 52-week high
−8.7%
vs 50-day average
+6.0%
vs 200-day average
+19.6%
Volatility (1 year)
66%
Beta vs S&P 500
1.57

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±12.8%
After a week
10 up, 2 down
typical move ±12.2%
After a month
7 up, 5 down
typical move ±14.6%
Results releasedNext dayS&P 500 next day5 days21 days
September 8, 2026 −14.9% −1.0% −15.3% −8.3%
July 9, 2026 +10.8% +1.3% +8.1% +10.6%
June 24, 2026 +25.5% +0.1% +23.4% +11.7%
March 10, 2026 −1.3% −0.3% +7.9% +15.0%
January 20, 2026 +3.1% −0.9% +4.2% −5.4%
December 23, 2025 +11.5% +0.8% +8.0% +5.1%
November 25, 2025 +37.8% +1.6% +32.6% +44.2%
September 12, 2025 +1.1% +0.5% +9.8% +13.4%
August 29, 2025 +2.3% −1.3% +0.5% +15.8%
July 18, 2025 −23.7% +0.1% −20.6% −28.0%
March 10, 2025 −8.4% −3.5% +2.0% −12.8%
December 9, 2024 +13.8% −0.8% +13.5% −5.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Barnes & Noble Education, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Barnes & Noble Education, Inc.
$1.6B $1.6B $1.7B $1.7B $1.8B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $1.6B Revenue (TTM), FY24 Q3: $1.6B Revenue (TTM), FY24 Q4: $1.6B Revenue (TTM), FY25 Q1: $1.6B Revenue (TTM), FY25 Q2: $1.6B Revenue (TTM), FY25 Q3: $1.6B Revenue (TTM), FY25 Q4: $1.6B Revenue (TTM), FY26 Q1: $1.6B Revenue (TTM), FY26 Q2: $1.7B Revenue (TTM), FY26 Q3: $1.7B Revenue (TTM), FY26 Q4: $1.7B Revenue (TTM), FY27 Q1: $1.7B $1.7B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $1.6B
FY24 Q3 $1.6B
FY24 Q4 $1.6B
FY25 Q1 $1.6B
FY25 Q2 $1.6B
FY25 Q3 $1.6B
FY25 Q4 $1.6B
FY26 Q1 $1.6B
FY26 Q2 $1.7B
FY26 Q3 $1.7B
FY26 Q4 $1.7B
FY27 Q1 $1.7B
Revenue growth, TTM YoY Barnes & Noble Education, Inc.
-5% 0% 5% 10% 15% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 3.0% Revenue growth, TTM YoY, FY24 Q3: 1.2% Revenue growth, TTM YoY, FY24 Q4: 1.4% Revenue growth, TTM YoY, FY25 Q1: 0.8% Revenue growth, TTM YoY, FY25 Q2: 0.2% Revenue growth, TTM YoY, FY25 Q3: -0.6% Revenue growth, TTM YoY, FY25 Q4: 2.7% Revenue growth, TTM YoY, FY26 Q1: 4.4% Revenue growth, TTM YoY, FY26 Q2: 7.6% Revenue growth, TTM YoY, FY26 Q3: 10.6% Revenue growth, TTM YoY, FY26 Q4: 6.5% Revenue growth, TTM YoY, FY27 Q1: 5.0% 5.0%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 3.0%
FY24 Q3 1.2%
FY24 Q4 1.4%
FY25 Q1 0.8%
FY25 Q2 0.2%
FY25 Q3 -0.6%
FY25 Q4 2.7%
FY26 Q1 4.4%
FY26 Q2 7.6%
FY26 Q3 10.6%
FY26 Q4 6.5%
FY27 Q1 5.0%
Operating margin (TTM) Barnes & Noble Education, Inc.
-4% -2% 0% 2% 4% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: -3.4% Operating margin (TTM), FY24 Q3: -2.3% Operating margin (TTM), FY24 Q4: -2.2% Operating margin (TTM), FY25 Q1: -1.8% Operating margin (TTM), FY25 Q2: -1.4% Operating margin (TTM), FY25 Q3: -0.3% Operating margin (TTM), FY25 Q4: 1.0% Operating margin (TTM), FY26 Q1: 1.9% Operating margin (TTM), FY26 Q2: 1.5% Operating margin (TTM), FY26 Q3: 1.2% Operating margin (TTM), FY26 Q4: 2.1% Operating margin (TTM), FY27 Q1: 2.5% 2.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 -3.4%
FY24 Q3 -2.3%
FY24 Q4 -2.2%
FY25 Q1 -1.8%
FY25 Q2 -1.4%
FY25 Q3 -0.3%
FY25 Q4 1.0%
FY26 Q1 1.9%
FY26 Q2 1.5%
FY26 Q3 1.2%
FY26 Q4 2.1%
FY27 Q1 2.5%
FCF margin (TTM) Barnes & Noble Education, Inc.
-10% -5% 0% 5% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 0.9% FCF margin (TTM), FY24 Q3: 0.8% FCF margin (TTM), FY24 Q4: -1.2% FCF margin (TTM), FY25 Q1: -2.5% FCF margin (TTM), FY25 Q2: -4.0% FCF margin (TTM), FY25 Q3: -4.4% FCF margin (TTM), FY25 Q4: -6.1% FCF margin (TTM), FY26 Q1: -1.4% FCF margin (TTM), FY26 Q2: -0.3% FCF margin (TTM), FY26 Q3: 0.4% FCF margin (TTM), FY26 Q4: 2.0% FCF margin (TTM), FY27 Q1: 2.8% 2.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 0.9%
FY24 Q3 0.8%
FY24 Q4 -1.2%
FY25 Q1 -2.5%
FY25 Q2 -4.0%
FY25 Q3 -4.4%
FY25 Q4 -6.1%
FY26 Q1 -1.4%
FY26 Q2 -0.3%
FY26 Q3 0.4%
FY26 Q4 2.0%
FY27 Q1 2.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Barnes & Noble Education took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.7B
  2. Cost of revenue $1.3B · 78.6%
  3. Gross profit $366M · 21.4%
  4. Selling, general and admin $289M · 16.8%
  5. Other operating costs $41.1M · 2.4%
  6. Operating income $36.5M · 2.1%
  7. Interest and other $15.9M · 0.9%
  8. Net income $16.9M · 1.0%

Shares of revenue. Source: Barnes & Noble Education's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2014 May 2014 2015 May 2015 2016 Apr 2016 2017 Apr 2017 2018 Apr 2018 2019 Apr 2019 2020 May 2020 2021 May 2021 2022 Apr 2022 2023 Apr 2023 2024 Apr 2024 2025 May 2025 2026 May 2026 LTM Aug 2026
Income
Revenue 1,748 1,773 1,808 1,874 2,204 2,035 1,851 1,407 1,496 1,543 1,567 1,610 1,715 1,717
Gross profit 437 444 455 459 557 528 443 230 343 349 345 338 366 368
EBITDA 106 84 57 67 −197 38 19 −124 −18 −24 7 54 69 74
Operating income 58 34 5 14 −263 −28 −43 −169 −61 −66 −34 16 37 42
Net income 35 19 0 5 −253 −24 −38 −140 −69 −102 −76 −66 17 22
Diluted EPS $174.97 $0.66 $0.00 $0.22 −$10.74 −$1.03 −$1.59 −$5.59 −$2.64 −$3.86 −$2.85 −$2.50 $0.49 $0.64
Growth (year on year)
Revenue — +1.4% +2.0% +3.7% +17.6% −7.7% −9.0% −24.0% +6.3% +3.2% +1.6% +2.7% +6.5% +5.0%
EBITDA — −20.9% −31.8% +16.7% −394.8% — — — — — — — +28.6% +13.2%
Operating income — −42.5% — — — — — — — — — — — —
Net income — −45.5% — — — — — — — — — — — —
Diluted EPS — −99.6% — — — — — — — — — — — —
Margins
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% 21.4% 21.4%
EBITDA margin 6.1% 4.7% 3.2% 3.6% −8.9% 1.9% 1.0% −8.8% −1.2% −1.6% 0.4% 3.3% 4.0% 4.3%
Operating 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% 2.1% 2.5%
Net margin 2.0% 1.1% 0.0% 0.3% −11.5% −1.2% −2.1% −9.9% −4.6% −6.6% −4.8% −4.1% 1.0% 1.3%
Free-cash-flow margin 0.7% −1.7% 1.8% 1.8% 0.8% 3.7% −2.4% 0.4% −2.2% 4.3% −1.2% −6.1% 2.0% 2.8%
Cash flow
Cash from operations 51 18 83 68 60 122 −9 33 1 92 −5 −85 50 65
Capital spending 38 48 51 35 43 46 36 28 34 25 14 13 16 16
Free cash flow 12 −31 32 33 17 75 −45 5 −32 67 −19 −98 34 49
Stock-based pay 2 5 7 9 8 9 7 5 6 5 3 5 6 5
Free cash flow after stock pay 10 −35 26 24 9 66 −52 1 −38 62 −23 −104 28 44
Balance sheet
Cash 132 45 29 19 16 14 8 8 9 14 10 9 8 8
Total debt 0 0 0 160 196 134 175 178 226 182 198 103 71 124
Net debt (negative = net cash) −132 −45 −29 141 180 119 166 170 217 168 187 94 63 116
Diluted shares — — — — — — — — — 26m 27m 26m 35m 35m
Returned to shareholders
Buybacks 0 0 19 9 2 2 1 1 2 1 0 0 0 —
Total returned 0 0 19 9 2 2 1 1 2 1 0 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

4 of 6 checks passed · August 1, 2026
What it owns · $847m
Short-term assets $594mLonger-term assets $253m
What it owes, and who funded it · $847m
Short-term liabilities $357mLonger-term liabilities $211mShareholders' equity $278m
  • Short-term assets cover short-term liabilities $594m of assets due within a year against $357m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $594m short-term assets against $211m of longer-dated liabilities.
  • More cash than debt $8m of cash against $124m of debt.
  • Debt below 40% of shareholders' equity Debt is 44% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 84% to 44% over five years.
  • A year's operating cash flow covers at least 20% of debt $65m of operating cash flow against $124m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Barnes & Noble Education, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q4 TTM
Buybacks (TTM)
$0
Returned to shareholders
0%
of free cash flow
Buybacks, last 3 fiscal years
$181,000
Diluted share count
+10.9%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
Sales & admin spending
16.8%
of revenue
Days sales outstanding
38 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in other specialty retail
Last 12 months unless stated BNED IMMR SVV ONEW FLWS EYE Median
Revenue, last 12 months $1.7bn $1.7bn $1.7bn $1.8bn $1.5bn $2.0bn $1.2bn
Revenue growth, last 12 months 5.0% 4.1% 10.0% 1.3% −10.8% 7.8% 4.0%
Revenue growth, 3-year average 3.4% 259.7% 5.8% −1.2% −9.3% 10.6% 2.6%
Revenue growth, latest quarter 0.8% 0.8% 7.4% −4.0% −12.9% 2.5% 2.3%
Gross margin 21.4% 100.0% 26.3% 23.5% 38.0% 52.8% 36.5%
Operating margin 2.5% 1.9% 7.7% −5.1% −8.5% 4.1% 2.2%
Operating margin, 3-year average 0.9% 7.7% 7.5% −1.8% −6.9% 1.8% 1.5%
Net margin 1.3% 0.6% 1.4% −6.7% −9.0% 2.5% 0.8%
Cash from operations / revenue 3.8% 4.5% 11.8% 3.7% 1.2% 6.4% 5.5%
Free-cash-flow margin 2.8% 3.5% 4.7% 3.1% −0.9% 2.4% 3.0%
Free-cash-flow margin, 3-year average −0.3% −9.0% 3.9% 2.5% −0.6% 2.5% 2.7%
Stock pay / revenue 0.3% 0.5% 1.4% 0.7% 0.7% 1.2% 0.6%
Change in share count 10.9% 1.0% −2.2% — 0.2% 2.6% 0.7%

Median of all 35 companies we cover in other specialty retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

35 other specialty retail companies
Measure Company Peer median Rank
Revenue growth Growth 5.0% 4.0% 16 of 35
Change in growth rate Growth -1.5pp -0.2pp 28 of 35
Gross margin Profitability 21.4% 36.5% 29 of 31
Operating margin Profitability 2.5% 2.2% 15 of 33
Net margin Profitability 1.3% 0.8% 17 of 35
Free-cash-flow margin Cash generation 2.8% 3.1% 18 of 34
Stock pay as % of revenue Cash generation 0.3% 0.7% 5 of 30
Long-term debt as % of assets Balance sheet 14.6% 14.2% 15 of 26
Change in share count Balance sheet 10.9% 0.6% 29 of 33
Days sales outstanding Balance sheet 38 days 13 days 17 of 20

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to May 2, 2026
Products and services
Line of business Revenue YoY
Product and Other Sales $1.6B ▲ 6.9%
Course Materials Product $1.1B ▲ 10.5%
General Merchandise Product $358M ▲ 0.8%
Service and Other $77.4M ▼ 10.5%

These categories overlap or exclude eliminations, so shares aren't shown.

From Barnes & Noble Education, Inc.'s 10-K filed July 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$334M
Institutions reporting
111
Shares held vs prior quarter
▲ 8.3%
Positions opened / closed
30 / 9

Top buyers and sellers, Q2 2026: 62 institutions bought and 38 sold ; the biggest buyer was Ballast Asset Management, LP (+300K shares) and the biggest seller Goldman Sachs Group Inc (−215K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Immersion Corp $141M 11.2M 42.1% 0.0%
Kanen Wealth Management LLC $42.9M 3.4M 12.8% ▼ 1.3%
Windward Management LP $20.8M 1.7M 6.2% ▼ 2.5%
Blackrock, Inc. $14.8M 1.2M 4.4% ▲ 8.2%
Morgan Stanley $13.3M 1.1M 4.0% ▲ 1.3%
Prescott Group Capital Management, L.L.C. $11.2M 892K 3.3% ▲ 1.1%
Vanguard Capital Management LLC $10.1M 805K 3.0% ▼ 7.0%
Geode Capital Management, LLC $6.2M 496K 1.9% ▲ 13.9%
State Street Corp $4.6M 367K 1.4% ▲ 15.6%
683 Capital Management, LLC $4.4M 349K 1.3% ▼ 8.1%
Jpmorgan Chase & Co $4.3M 317K 1.3% ▲ 1652.5%
Bank Of America Corp $4.3M 339K 1.3% ▼ 4.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Barnes & Noble Education, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.4M 11 trades by 4 insiders · 0% under pre-set plans
Net ▼ $1.4M net selling
Insider Date Trade Shares Price Value
Luster Gary SVP, Chief Accounting Officer September 23, 2026 Sell 2,267 $11.20 $25,390
Shar Jonathan CEO September 22, 2026 Sell 30,000 $11.04 $331,200
Snagusky Jason CFO July 17, 2026 Sell 5,000 $12.64 $63,200
Luster Gary SVP, Chief Accounting Officer July 10, 2026 Sell 1,066 $11.61 $12,376
Neumann Christopher EVP General Counsel, Secretary July 10, 2026 Sell 2,785 $11.61 $32,334
Snagusky Jason CFO July 10, 2026 Sell 2,237 $11.61 $25,972
Snagusky Jason CFO July 2, 2026 Sell 1,384 $12.65 $17,508
Snagusky Jason CFO July 2, 2026 Sell 826 $12.24 $10,110
Shar Jonathan CEO July 1, 2026 Sell 67,896 $12.83 $871,106
Snagusky Jason CFO March 13, 2026 Sell 17 $8.11 $138
Shar Jonathan CEO March 13, 2026 Sell 81 $8.11 $657

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

  • September 8, 2026
  • July 9, 2026
  • June 24, 2026
  • March 10, 2026
  • January 20, 2026
  • December 23, 2025

Recent SEC filings

Data status

When each part of this page on Barnes & Noble Education, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Barnes & Noble Education, Inc. in brief

What does Barnes & Noble Education, Inc. do?
Barnes & Noble Education, Inc. is a US-listed company in the other specialty retail industry. Its financial year ends in April.
What is Barnes & Noble Education, Inc.'s stock ticker?
Barnes & Noble Education, Inc. trades under the ticker BNED on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Barnes & Noble Education, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Barnes & Noble Education, Inc. reported revenue of $1.7B, 5.0% higher than a year earlier, according to its SEC filings.
What is Barnes & Noble Education, Inc.'s free cash flow?
Barnes & Noble Education, Inc.'s free-cash-flow margin is 2.8% of revenue over the trailing twelve months, ranking 18 of the 34 other specialty retail companies we cover.
Who are Barnes & Noble Education, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Immersion Corp, Kanen Wealth Management LLC and Windward Management LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Barnes & Noble Education, Inc. buying back stock, and does it pay a dividend?
Barnes & Noble Education, Inc. spent $0 on share repurchases over the trailing twelve months, and its diluted share count still rose 10.9% over the year.
What is Barnes & Noble Education, Inc.'s market cap?
On November 2, 2026, Barnes & Noble Education, Inc.'s market capitalisation was about $442M, with a price-to-earnings ratio of 19.9 and net debt of $116M. Market figures come from third-party market data and may be delayed.
How much debt does Barnes & Noble Education, Inc. have?
Barnes & Noble Education, Inc.'s debt-to-equity ratio is 44.4%, from its latest balance sheet (84.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Barnes & Noble Education, Inc.'s competitors?
In our Other Specialty Retail peer group, the companies closest to Barnes & Noble Education, Inc. are Immersion Corp, Savers Value Village, Inc., Onewater Marine Inc., 1 800 Flowers Com Inc and National Vision Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Barnes & Noble Education, Inc.'s.
Are insiders buying or selling Barnes & Noble Education, Inc. stock?
Over the last 12 months, Barnes & Noble Education, Inc.'s directors and officers reported 0 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Barnes & Noble Education, Inc.'s next earnings date?
Around December 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Barnes & Noble Education, Inc. announces its own schedule.