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Stocks · Consumer discretionary · Retail-Miscellaneous Shopping Goods Stores

Barnes & Noble Education, Inc.

BNED Clue Score37
United States Fiscal year ends May CIK 0001634117
$12.51 +4.77% Close, 9 Oct 2026
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Price $12.51 +12.70% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue1,874.4Operating income13.6Net income5.4EPS, diluted0.11Fiscal year 2018Revenue2,203.6 +17.6%Operating income−262.7Net income−252.6 −4,811.2%EPS, diluted−5.40Fiscal year 2019Revenue2,034.6 −7.7%Operating income−27.7Net income−24.4EPS, diluted−0.52Fiscal year 2020Revenue1,851.1 −9.0%Operating income−42.8Net income−38.3EPS, diluted−0.80Fiscal year 2021Revenue1,406.5 −24.0%Operating income−168.8Net income−139.8EPS, diluted−2.81Fiscal year 2022Revenue1,495.7 +6.3%Operating income−60.6Net income−68.9EPS, diluted−1.33Fiscal year 2023Revenue1,543.2 +3.2%Operating income−66.4Net income−101.9EPS, diluted−38.61Fiscal year 2024Revenue1,430.5 −7.3%Operating income−33.8Net income−75.7EPS, diluted−28.46Fiscal year 2025Revenue1,463.2 +2.3%Operating income15.9Net income−65.8EPS, diluted−2.50Fiscal year 2026Revenue1,564.4 +6.9%Operating income36.5Net income16.9EPS, diluted0.49
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Revenue 1,874.4 2,203.6 2,034.6 1,851.1 1,406.5 1,495.7 1,543.2 1,430.5 1,463.2 1,564.4
Growth +17.6% −7.7% −9.0% −24.0% +6.3% +3.2% −7.3% +2.3% +6.9%
Operating income 13.6 −262.7 −27.7 −42.8 −168.8 −60.6 −66.4 −33.8 15.9 36.5
Net income 5.4 −252.6 −24.4 −38.3 −139.8 −68.9 −101.9 −75.7 −65.8 16.9
Growth −4,811.2%
EPS, diluted 0.11 −5.40 −0.52 −0.80 −2.81 −1.33 −38.61 −28.46 −2.50 0.49

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin24.5%Operating margin0.7%Net margin0.3%Free cash flow margin1.8%Fiscal year 2018Gross margin25.3%Operating margin−11.9%Net margin−11.5%Free cash flow margin0.8%Fiscal year 2019Gross margin25.9%Operating margin−1.4%Net margin−1.2%Free cash flow margin3.7%Fiscal year 2020Gross margin23.9%Operating margin−2.3%Net margin−2.1%Free cash flow margin−2.4%Fiscal year 2021Gross margin16.4%Operating margin−12.0%Net margin−9.9%Free cash flow margin0.4%Fiscal year 2022Gross margin22.9%Operating margin−4.1%Net margin−4.6%Free cash flow margin−2.2%Fiscal year 2023Gross margin22.6%Operating margin−4.3%Net margin−6.6%Free cash flow margin4.3%Fiscal year 2024Gross margin24.1%Operating margin−2.4%Net margin−5.3%Free cash flow margin−1.3%Fiscal year 2025Gross margin23.1%Operating margin1.1%Net margin−4.5%Free cash flow margin−6.7%Fiscal year 2026Gross margin23.4%Operating margin2.3%Net margin1.1%Free cash flow margin2.2%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Gross margin 24.5% 25.3% 25.9% 23.9% 16.4% 22.9% 22.6% 24.1% 23.1% 23.4%
Operating margin 0.7% −11.9% −1.4% −2.3% −12.0% −4.1% −4.3% −2.4% 1.1% 2.3%
Net margin 0.3% −11.5% −1.2% −2.1% −9.9% −4.6% −6.6% −5.3% −4.5% 1.1%
Free cash flow margin 1.8% 0.8% 3.7% −2.4% 0.4% −2.2% 4.3% −1.3% −6.7% 2.2%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow68.0Capital expenditure−34.7Free cash flow33.3Buybacks−9.4Fiscal year 2018Operating cash flow60.0Capital expenditure−42.8Free cash flow17.2 −48.3%Buybacks−1.6Fiscal year 2019Operating cash flow121.8Capital expenditure−46.4Free cash flow75.4 +337.4%Buybacks−2.0Fiscal year 2020Operating cash flow−8.7Capital expenditure−36.2Free cash flow−44.9 −159.5%Buybacks−1.3Fiscal year 2021Operating cash flow32.9Capital expenditure−27.6Free cash flow5.3Buybacks−0.9Fiscal year 2022Operating cash flow1.2Capital expenditure−33.6Free cash flow−32.4 −708.3%Buybacks−2.4Fiscal year 2023Operating cash flow91.7Capital expenditure−25.1Free cash flow66.6Buybacks−0.9Fiscal year 2024Operating cash flow−5.1Capital expenditure−14.1Free cash flow−19.2 −128.8%Buybacks−0.2Fiscal year 2025Operating cash flow−85.4Capital expenditure−12.9Free cash flow−98.3Buybacks−0.0Fiscal year 2026Operating cash flow50.1Capital expenditure−16.2Free cash flow33.9Buybacks0.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Operating cash flow 68.0 60.0 121.8 −8.7 32.9 1.2 91.7 −5.1 −85.4 50.1
Capital expenditure −34.7 −42.8 −46.4 −36.2 −27.6 −33.6 −25.1 −14.1 −12.9 −16.2
Free cash flow 33.3 17.2 75.4 −44.9 5.3 −32.4 66.6 −19.2 −98.3 33.9
Growth −48.3% +337.4% −159.5% −708.3% −128.8%
Buybacks −9.4 −1.6 −2.0 −1.3 −0.9 −2.4 −0.9 −0.2 −0.0 0.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash19.0Shareholders’ equity713.7Fiscal year 2018Cash16.1Shareholders’ equity468.0Fiscal year 2019Cash14.0Shareholders’ equity450.6Fiscal year 2020Cash8.2Shareholders’ equity417.8Fiscal year 2021Cash8.0Shareholders’ equity293.0Fiscal year 2022Cash8.8Total debt185.7Net cash (debt)−176.9Shareholders’ equity228.4Debt to equity0.81Fiscal year 2023Cash14.2Total debt182.2Net cash (debt)−167.9Shareholders’ equity153.1Debt to equity1.19Fiscal year 2024Cash10.5Total debt196.3Net cash (debt)−185.9Shareholders’ equity80.4Debt to equity2.44Fiscal year 2025Cash9.1Total debt103.1Net cash (debt)−94.0Shareholders’ equity272.2Debt to equity0.38Fiscal year 2026Cash8.4Total debt71.0Net cash (debt)−62.6Shareholders’ equity294.4Debt to equity0.24
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025FY2026
Cash 19.0 16.1 14.0 8.2 8.0 8.8 14.2 10.5 9.1 8.4
Total debt n/a n/a n/a n/a n/a 185.7 182.2 196.3 103.1 71.0
Net cash (debt) n/a n/a n/a n/a n/a −176.9 −167.9 −185.9 −94.0 −62.6
Shareholders’ equity 713.7 468.0 450.6 417.8 293.0 228.4 153.1 80.4 272.2 294.4
Debt to equity n/a n/a n/a n/a n/a 0.81 1.19 2.44 0.38 0.24

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending May, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 29 Apr 2017 FY2018 28 Apr 2018 FY2019 27 Apr 2019 FY2020 2 May 2020 FY2021 1 May 2021 FY2022 30 Apr 2022 FY2023† 29 Apr 2023 FY2024 27 Apr 2024 FY2025† 3 May 2025 FY2026 2 May 2026
Revenue and profit
1,874.4 2,203.6 2,034.6 1,851.1 1,406.5 1,495.7 1,543.2 1,430.5 1,463.2 1,564.4
Growth +17.6% −7.7% −9.0% −24.0% +6.3% +3.2% −7.3% +2.3% +6.9%
1,415.3 1,646.4 1,506.9 1,408.5 1,176.2 1,152.9 1,193.8 1,222.2 1,272.4 1,348.6
459.1 557.2 527.7 442.5 230.3 342.8 349.4 344.9 337.8 366.2
Growth +21.4% −5.3% −16.1% −48.0% +48.8% +1.9% −1.3% −2.1% +8.4%
380.8 433.7 423.9 404.5 316.2 354.0 357.6 311.6 283.8 288.6
13.6 −262.7 −27.7 −42.8 −168.8 −60.6 −66.4 −33.8 15.9 36.5
Growth −2,038.1% +129.5%
10.1 −273.0 −37.4 −50.2 −176.8 −70.7 −89.1 −74.2 −61.6 20.7
4.7 −20.4 −13.1 −12.0 −7.2 −9.2 1.0 0.9 4.3 3.8
5.4 −252.6 −24.4 −38.3 −139.8 −68.9 −101.9 −75.7 −65.8 16.9
Growth −4,811.2%
Per share
0.12 −5.40 −0.52 −0.80 −2.81 −1.33 −38.61 −28.46 −2.50 0.49
0.11 −5.40 −0.52 −0.80 −2.81 −1.33 −38.61 −28.46 −2.50 0.49
Growth −5,009.1%
46.3 46.8 47.3 48.0 49.7 51.8 2.6 2.7 26.3 34.3
46.8 46.8 47.3 48.0 49.7 51.8 2.6 2.7 26.3 34.6
Growth +0.0% +1.2% +1.5% +3.4% +4.3% −94.9% +0.9% +887.8% +31.6%

† The diluted share count jumps at 2023 and 2025, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 2.2% a year over five years.
  • Operating margin is up 14.3 points on five years ago, at 2.3%.
  • A net loss in 8 of 10 years on file.