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Barnes & Noble Education, Inc. operates bookstores for college and university campuses, and K-12 institutions primarily in the United States. The company sells and rents new and used print textbooks, digital textbooks, and publisher hosted digital courseware through physical and virtual bookstores, as well as directly to students through Textbooks.com. In addition, it offers First Day and First Day Complete access programs; and general merchandise, including collegiate and athletic apparel, school spirit products, lifestyle and wellness products, technology products, supplies, graduation products, and convenience items. Further, the company sources, sells, and distributes new and used textbooks; and sells hardware and a software suite of applications that provides inventory management and point-of-sale solutions to college bookstores. Additionally, it offers direct-to-student services. It operates physical college and university bookstores; virtual bookstores; True Spirit e apparel and spirit shop e-commerce websites; pop-up retail locations; customized cafés and stand-alone convenience stores; and a media channel for brands targeting the college demographic. Barnes & Noble Education, Inc. was founded in 1965 and is headquartered in Florham Park, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.6B | $-6M | $-66M | $-98M | -24.2% | 2.7% | -13.1% |
| 2024 | $1.6B | $-5M | $-76M | $-19M | -94.2% | 1.6% | -25.6% |
| 2023 | $1.5B | $-27M | $-102M | $67M | -77.9% | 3.2% | 47.9% |
| 2022 | $1.5B | $-18M | $-69M | $-32M | -30.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,495.73 | 1,543.21 | 1,567.14 | 1,610.17 |
| Operating Revenue | 1,495.73 | 1,543.21 | 1,567.14 | 1,610.17 |
| Cost Of Revenue | 1,152.90 | 1,193.77 | 1,222.22 | 1,272.37 |
| Gross Profit | 342.83 | 349.44 | 344.91 | 337.80 |
| Operating Expense | 396.09 | 399.77 | 352.13 | 321.74 |
| Selling General And Administration | 353.97 | 357.61 | 311.57 | 283.80 |
| Total Expenses | 1,548.99 | 1,593.54 | 1,574.36 | 1,594.10 |
| Operating Income | -53.26 | -50.34 | -7.22 | 16.07 |
| Total Operating Income As Reported | -60.62 | -66.45 | -33.80 | 15.92 |
| EBITDA | -18.10 | -26.87 | -5.21 | -6.18 |
| Normalized EBITDA | -10.75 | -10.76 | 21.37 | 49.19 |
| EBIT | -60.62 | -69.06 | -45.77 | -44.12 |
| Interest Income | - | 0.52 | 1.18 | 0.35 |
| Interest Expense | 10.10 | 20.07 | 28.39 | 17.45 |
| Net Interest Income | -10.10 | -22.68 | -40.36 | -22.26 |
| Other Income Expense | -7.36 | -16.11 | -26.58 | -55.37 |
| Interest Income Non Operating | - | 0.52 | 1.18 | 0.35 |
| Interest Expense Non Operating | 10.10 | 20.07 | 28.39 | 17.45 |
| Net Non Operating Interest Income Expense | -10.10 | -22.68 | -40.36 | -22.26 |
| Pretax Income | -70.71 | -89.13 | -74.16 | -61.57 |
| Tax Provision | -9.15 | 1.01 | 0.86 | 4.26 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | -0.95 | -3.38 | -5.58 | -11.63 |
| Net Income Continuous Operations | -61.56 | -90.14 | -75.02 | -65.82 |
| Net Income From Continuing And Discontinued Operation | -68.86 | -101.86 | -75.75 | -65.82 |
| Net Income From Continuing Operation Net Minority Interest | -61.56 | -90.14 | -75.02 | -65.82 |
| Net Income | -68.86 | -101.86 | -75.75 | -65.82 |
| Net Income Common Stockholders | -68.86 | -101.86 | -75.75 | -65.82 |
| Net Income Including Noncontrolling Interests | -68.86 | -101.86 | -75.75 | -65.82 |
| Normalized Income | -55.15 | -77.41 | -54.02 | -22.08 |
| Diluted NI Availto Com Stockholders | -68.86 | -101.86 | -75.75 | -65.82 |
| Basic Average Shares | 2.38 | 2.41 | 2.66 | 26.30 |
| Diluted Average Shares | 2.38 | 2.41 | 2.66 | 26.30 |
| Reconciled Depreciation | 42.51 | 42.19 | 40.56 | 37.94 |
| Reconciled Cost Of Revenue | 1,152.52 | 1,193.74 | 1,222.22 | 1,272.37 |
| Total Unusual Items | -7.36 | -16.11 | -26.58 | -55.37 |
| Total Unusual Items Excluding Goodwill | -7.36 | -16.11 | -26.58 | -55.37 |
| Net Income Discontinuous Operations | -7.30 | -11.72 | -0.73 | 0 |
| Special Income Charges | -7.36 | -16.11 | -26.58 | -55.37 |
| Other Special Charges | - | - | - | 47.51 |
| Impairment Of Capital Assets | 6.41 | 6.01 | 7.17 | 1.71 |
| Restructuring And Mergern Acquisition | 0.94 | 10.10 | 19.41 | 6.15 |
| Depreciation Amortization Depletion Income Statement | 42.12 | 42.16 | 40.56 | 37.94 |
| Depreciation And Amortization In Income Statement | 42.12 | 42.16 | 40.56 | 37.94 |
| Rent Expense Supplemental | 76.66 | 74.29 | 77.25 | 79.35 |
| Total Other Finance Cost | - | 3.13 | 13.15 | 5.16 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Barnes & Noble Education, Inc.this co. | BNED | $363M | -5.51 | 1.33 | -24.2% | -102.94 |
| Zumiez Inc. | ZUMZ | $405M | 30.28 | 1.25 | 4.1% | 11.63 |
| Citi Trends, Inc. | CTRN | $387M | 74.21 | 3.32 | 4.5% | 22.35 |
| Dine Brands Global, Inc. | DIN | $369M | 21.57 | -1.35 | -6.2% | 12.60 |
| Haverty Furniture Companies, Inc. | HVT |
| $367M |
| 18.61 |
| 1.19 |
| 6.4% |
| 10.19 |
| Lands' End, Inc. | LE | $342M | 61.98 | 1.40 | 2.3% | 7.63 |
| Weyco Group, Inc. | WEYS | $338M | 14.66 | 1.41 | 9.6% | 7.21 |
| Strattec Security Corporation | STRT | $333M | 17.83 | 1.50 | 8.4% | 6.35 |
| Holley Inc. | HLLY | $315M | 16.45 | 0.70 | 4.3% | 7.38 |
| Peer Median | - | 20.09 | 1.32 | 4.4% | 8.91 | |