Barnes & Noble Education, Inc. Financial Ratios — BNED Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	0.61	17.77	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	5.88	3.24	1.71	0.01	0.45	-21.6	-2.46	-3.64	-12.78	-6.55	-9.93	-8.01	-7.74
Return on Capital (%)	- -	- -	- -	- -	1.03	6.55	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	9.32	4.65	2.51	0.12	1.68	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	22.63	22.95	24.99	25.02	25.15	24.49	25.29	25.94	23.91	16.38	22.92	22.64	22.01	20.98
EBITDA Margin (%)	6.38	5.77	6.08	4.74	4.45	4.18	5.6	5.16	2.28	-6.05	-0.72	-0.53	2.13	3.35
Operating Margin (%)	3.78	3.11	3.34	1.89	1.54	1.33	2.63	1.87	-1.28	-9.32	-3.56	-3.26	-0.46	1
Incremental Operating Margin (%)	- -	-54.88	-22.58	-98.76	-16.33	-4.35	10.01	11.79	- -	- -	- -	- -	229.77	54.11
Pretax Margin (%)	3.45	2.84	3.31	1.88	0.15	0.54	-12.39	-1.84	-2.71	-12.57	-4.73	-5.78	-4.73	-3.82
Profit Margin (%)	2.09	1.71	2.01	1.08	- -	0.29	-11.46	-1.2	-2.07	-9.94	-4.6	-6.6	-4.83	-4.09
Net Income to Common Margin (%)	2.09	1.65	1.91	0.74	- -	0.29	-11.46	-1.2	-2.07	-9.94	-4.6	-6.6	-4.83	-4.09
Effective Tax Rate (%)	39.49	39.64	39.41	42.63	96.95	46.87	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	- -	-3.44	-5.31	-46.54	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	0.61	17.77	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	- -	- -	- -	160	196	134	453	455	542	467	414	283
ST Debt	- -	- -	- -	- -	- -	100	100	100	168	143	137	100	77	65
LT Debt	- -	- -	- -	- -	- -	60	96	34	286	312	405	367	337	219
Total Debt/EBITDA	- -	- -	- -	- -	- -	2.04	1.59	1.27	10.75	-5.35	-50.46	-57.31	12.42	5.24
Net Debt/EBITDA	- -	-0.54	-1.36	-0.53	-0.35	1.8	1.46	1.14	3.95	-1.99	-20.18	-20.62	5.58	1.74
Total Debt/EBIT	- -	- -	- -	- -	- -	6.4	3.39	3.51	-19.06	-3.47	-10.18	-9.28	-57.32	17.62
Net Debt/EBIT	- -	-1.01	-2.47	-1.34	-1.03	5.64	3.11	3.15	-7	-1.29	-4.07	-3.34	-25.74	5.85
EBITDA to Interest Expense	19.57	20.88	276.21	400.33	43.02	22.59	11.98	10.73	5.66	-10.52	-1.06	-0.41	1.17	3.1
EBITDA-CapEx/Interest Expense	12.45	12.92	176.85	169.6	15.89	12.59	7.83	5.98	0.8	-13.93	-4.39	-1.66	0.68	2.36
EBIT to Interest Expense	11.59	11.26	151.49	159.81	14.87	7.2	5.62	3.88	-3.19	-16.2	-5.28	-2.51	-0.25	0.92
Interest Expense	6	5	- -	- -	2	3	10	10	7	8	10	20	28	17
Common Equity/Total Assets	- -	- -	- -	- -	2.56	2.53	-21.14	-25.79	-24.41	-40.94	-45.82	-60.44	-71.07	-90.12
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	8.35	20.6	7.43	68.42	106.61	177.47	280.61	419.11	80.31
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	30.97	-413.7	-30.3	167.05	952.7	787.21	-291.38	-144.73	-50.94
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	4.59	9.28	3.54	24.72	30.3	37.82	37.41	37.03	27.66
Total Debt/Equity (%)	- -	- -	- -	- -	- -	22.36	41.97	29.63	108.54	155.25	237.52	357.08	514.83	104.02
Total Debt/Capital (%)	- -	- -	- -	- -	- -	82.93	-842.85	-120.74	264.99	1,387.33	1,053.58	-370.78	-177.79	-65.98
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	12.28	18.9	14.11	39.21	44.12	50.62	47.6	45.49	35.82
Net Debt to Equity	- -	-7.8	-17.86	-6.17	-4.03	19.7	38.52	26.52	39.85	57.87	94.98	128.44	231.19	34.55
Net Debt/Capital (%)	- -	100	100	100	2,645.19	81.06	-457.22	-95.91	102.21	684.74	508.09	-119.83	-76.41	-21.46
EBITDA	111	102	106	84	81	78	123	105	42	-85	-11	-8	33	54
EBITDA-CapEx	71	63	68	36	30	44	81	59	6	-113	-44	-33	19	41
Operating Income (Loss)	66	55	58	34	28	25	58	38	-24	-131	-53	-50	-7	16

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.24	0.56	0.18	0.11	0.05	0.04	0.03	0.02	0.02	0.02	0.03	0.02	0.03
Current Ratio	- -	1.76	2.06	1.86	1.73	1.46	1.5	1.45	1.44	1.34	1.28	1.16	1.1	1.67
Quick Ratio	- -	0.4	0.71	0.48	0.31	0.22	0.26	0.26	0.24	0.34	0.34	0.23	0.23	0.38
CFO/Avg Current Liab	- -	0.52	0.21	0.07	0.33	0.2	0.15	0.3	-0.02	0.08	- -	0.21	-0.01	-0.23
Common Equity/Total Assets	- -	- -	- -	- -	2.56	2.53	-21.14	-25.79	-24.41	-40.94	-45.82	-60.44	-71.07	-90.12
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	8.35	20.6	7.43	68.42	106.61	177.47	280.61	419.11	80.31
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	30.97	-413.7	-30.3	167.05	952.7	787.21	-291.38	-144.73	-50.94
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	4.59	9.28	3.54	24.72	30.3	37.82	37.41	37.03	27.66
Total Debt/Equity (%)	- -	- -	- -	- -	- -	22.36	41.97	29.63	108.54	155.25	237.52	357.08	514.83	104.02
Total Debt/Capital (%)	- -	- -	- -	- -	- -	82.93	-842.85	-120.74	264.99	1,387.33	1,053.58	-370.78	-177.79	-65.98
Total Debt/Total Assets (%)	- -	- -	- -	- -	- -	12.28	18.9	14.11	39.21	44.12	50.62	47.6	45.49	35.82
CFO/Total Liabilities	- -	18.83	15.11	4.87	22.87	11.6	10.51	24.58	-1.17	4.46	0.14	10.78	-0.62	-16.49
CFO/CapEx	1.5	1.53	1.33	0.37	1.64	1.96	1.4	2.62	-0.24	1.19	0.03	3.65	-0.36	-6.62
Altman's Z-Score	- -	4.04	3.43	3.47	6.94	5.2	4.65	3.86	1.95	2.08	1.33	1	0.89	1.57

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	133.18	62.27	63.22	58.32	39.86	34.95	28.67	24.68	16.05	14.81	17.7	22.11	25.82
Days Sales Outstanding	- -	2.74	5.86	5.77	6.26	9.16	10.44	12.73	14.79	22.74	24.64	20.62	16.51	14.13
Inventory Turnover	- -	9.39	4.29	3.98	3.84	3.34	3.37	3.14	3.01	3.02	3.64	3.53	3.37	3.64
Days Inventory Outstanding	- -	38.88	85.16	91.62	95.14	109.27	108.44	116.1	121.4	120.94	100.24	103.47	108.36	100.17
Accounts Payable Turnover	- -	23.04	8.71	8.43	8.91	8.94	8.67	7.91	8.54	7.23	7.29	5.43	4.38	5.47
Accounts Payable Turnover Days	- -	15.84	41.9	43.3	40.98	40.83	42.08	46.12	42.75	50.5	50.09	67.2	83.38	66.69
Cash Conversion Cycle	- -	25.78	49.12	54.09	60.41	77.6	76.8	82.72	93.44	93.18	74.79	56.89	41.49	47.61
Inventory to Cash Days	- -	-36.14	-79.3	-85.84	-88.88	-100.11	-97.99	-103.37	-106.61	-98.2	-75.6	-82.85	-91.85	-86.03
Inventories	- -	289	322	345	361	487	491	467	470	310	323	353	372	326
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	289	322	345	361	487	491	467	470	310	323	353	372	326
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	- -	- -	1,986	2,212	1,543	933	394	1,803	722	375	54	277
- Cash & Cash Equivalents	- -	55	144	45	29	19	16	14	8	8	9	14	10	9
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	160	196	134	453	455	542	467	414	283
Enterprise Value	- -	-55	-144	-45	1,957	2,353	1,723	1,053	840	2,250	1,256	828	458	551
Total Capital	- -	- -	- -	- -	27	192	-23	-111	171	33	51	-126	-233	-429
Total Debt/Capital (%)	- -	- -	- -	- -	- -	82.93	-842.85	-120.74	264.99	1,387.33	1,053.58	-370.78	-177.79	-65.98
Total Debt / EV	- -	- -	- -	- -	- -	0.07	0.11	0.13	0.54	0.2	0.43	0.56	0.9	0.51
EV/Sales	- -	- -	- -	- -	1.08	1.26	0.78	0.52	0.45	1.6	0.84	0.54	0.29	0.34
EV/EBITDA	- -	- -	- -	- -	24.3	30.06	13.95	10.03	19.91	- -	- -	- -	13.73	10.2
EV/EBIT	- -	- -	- -	- -	70.31	94.31	29.76	27.72	- -	- -	- -	- -	104.36	34.3
EV/Cash Flow to Firm	- -	- -	- -	- -	23.54	33.7	24.76	8.22	- -	57.68	126.24	7.4	19.39	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	14.61	22.52	15.33	6.03	25.3	33.79	28.84	6.04	12.15	- -
Diluted Market Cap	- -	- -	- -	- -	1,996	2,234	1,543	933	394	1,803	722	375	54	277
Diluted Enterprise Value	- -	-55	-144	-45	1,968	2,374	1,723	1,053	840	2,250	1,256	828	458	551
EV per Share	- -	- -	- -	- -	922.53	1,107.16	803.02	485.05	381.07	987.08	528.54	344.08	171.89	20.95
TTM Sales	1,743	1,763	1,748	1,773	1,808	1,874	2,204	2,035	1,851	1,407	1,496	1,543	1,567	1,610
TTM EBITDA	111	102	106	84	81	78	123	105	42	-85	-11	-8	33	54
TTM Operating Income	66	55	58	34	28	25	58	38	-24	-131	-53	-50	-7	16
TTM Cash Flow to Firm	64	62	51	18	83	70	70	128	-3	39	10	112	24	-67
TTM Free Cash Flow to Firm	105	101	89	66	134	104	112	175	33	67	44	137	38	-54

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	- -	- -	14.91	21.76	15	5.55	14.33	29.82	20.78	3.22	6.05	-3.82
EV/EBIT	- -	- -	- -	- -	70.31	94.31	29.76	27.72	- -	- -	- -	- -	104.36	34.3
Enterprise Value	- -	-55	-144	-45	1,957	2,353	1,723	1,053	840	2,250	1,256	828	458	551
Low Price	- -	- -	- -	- -	815	850	499	358	111	125	303	138	18	6.05
EV/Sales	- -	- -	- -	- -	1.08	1.26	0.78	0.52	0.45	1.6	0.84	0.54	0.29	0.34
EV/EBITDA	- -	- -	- -	- -	24.3	30.06	13.95	10.03	19.91	- -	- -	- -	13.73	10.2
Price/Earnings	- -	- -	- -	- -	23,640.3	412.67	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	29,229.03	410.56	-6.35	-50	-19.78	-6.46	-26.07	-5.53	-3.9	-5.32
Price/Earnings High	- -	- -	- -	- -	40,360.25	521.29	-9.45	-74.09	-29.37	-15.55	-41.45	-7.84	-7.94	-53.94
Price/Earnings Low	- -	- -	- -	- -	20,584.23	336.95	-4.24	-31.88	-6.39	-2.04	-10.46	-3.26	-0.63	-2.42
Price/Book Value	- -	- -	- -	- -	72.24	67.33	-7.02	-3.82	-1.4	-4.27	-1.47	-0.63	-0.08	-0.39
Price/Book Value Average	- -	- -	- -	- -	89.32	66.99	-7.3	-4.99	-2.68	-2.14	-3.66	-0.95	-0.46	-0.49
Price/Book Value High	- -	- -	- -	- -	123.34	85.05	-10.86	-7.4	-3.98	-5.15	-5.81	-1.35	-0.93	-4.98
Price/Book Value Low	- -	- -	- -	- -	62.9	54.98	-4.87	-3.18	-0.87	-0.67	-1.47	-0.56	-0.07	-0.22
Price/Tangible Book Value	- -	- -	- -	- -	8.72	12.69	7.73	3.72	1.66	13.12	7.13	18.66	-3.93	1.43
Price/Tangible Book Value Average	- -	- -	- -	- -	10.78	12.62	8.04	4.86	3.18	6.57	17.71	28.01	-21.4	1.8
Price/Tangible Book Value High	- -	- -	- -	- -	14.88	16.03	11.96	7.2	4.72	15.82	28.15	39.72	-43.63	18.31
Price/Tangible Book Value Low	- -	- -	- -	- -	7.59	10.36	5.37	3.1	1.03	2.07	7.1	16.51	-3.47	0.82
Price/Sales	- -	- -	- -	- -	1.1	1.18	0.7	0.46	0.21	1.28	0.48	0.24	0.03	0.17
Price/Sales Average	- -	- -	- -	- -	1.36	1.17	0.73	0.6	0.41	0.64	1.2	0.37	0.19	0.22
Price/Sales High	- -	- -	- -	- -	1.88	1.49	1.08	0.89	0.61	1.55	1.91	0.52	0.38	2.2
Price/Sales Low	- -	- -	- -	- -	0.96	0.96	0.49	0.38	0.13	0.2	0.48	0.22	0.03	0.1
Price/Cash Flow	- -	- -	- -	- -	23.9	32.54	25.69	7.66	-45.45	54.8	622.31	4.1	-10.57	-3.24
Price/Cash Flow Average	- -	- -	- -	- -	29.55	32.37	26.71	10.01	-87.21	27.44	1,546.05	6.15	-57.63	-4.1
Price/Cash Flow High	- -	- -	- -	- -	40.81	41.11	39.74	14.83	-129.5	66.09	2,458.31	8.72	-117.47	-41.57
Price/Cash Flow Low	- -	- -	- -	- -	20.81	26.57	17.83	6.38	-28.19	8.66	620.26	3.62	-9.36	-1.86
Price/Free Cash Flow Average	- -	- -	- -	- -	18.44	21.65	15.59	7.25	27.5	14.93	51.63	4.83	32.99	-4.83
Price/Free Cash Flow High	- -	- -	- -	- -	25.46	27.49	23.2	10.74	40.83	35.96	82.09	6.84	67.24	-48.96
Price/Free Cash Flow Low	- -	- -	- -	- -	12.98	17.77	10.41	4.62	8.89	4.71	20.71	2.84	5.36	-2.19
EV/Sales Average	- -	- -	- -	- -	1.34	1.25	0.81	0.66	0.65	0.96	1.56	0.66	0.45	0.39
EV/Sales High	- -	- -	- -	- -	1.86	1.57	1.16	0.95	0.85	1.86	2.26	0.81	0.64	2.38
EV/Sales Low	- -	- -	- -	- -	0.94	1.04	0.57	0.44	0.37	0.52	0.84	0.51	0.29	0.27
EV/EBITDA Average	- -	-0.54	-1.36	-0.53	30.13	29.92	14.45	12.75	28.51	-15.86	-216.61	-124.75	20.96	11.56
EV/EBITDA High	- -	-0.54	-1.36	-0.53	41.75	37.5	20.78	18.35	37.21	-30.81	-315.14	-153.66	30.15	70.82
EV/EBITDA Low	- -	-0.54	-1.36	-0.53	21.12	24.88	10.13	8.54	16.36	-8.6	-116.63	-96.34	13.54	8.02
EV/EBIT Average	- -	-1.01	-2.47	-1.34	87.17	93.85	30.81	35.23	-50.53	-10.3	-43.72	-20.19	-96.75	38.84
EV/EBIT High	- -	-1.01	-2.47	-1.34	120.76	117.64	44.32	50.69	-65.96	-20	-63.61	-24.87	-139.2	238.06
EV/EBIT Low	- -	-1.01	-2.47	-1.34	61.09	78.04	21.61	23.61	-29	-5.58	-23.54	-15.59	-62.51	26.96
Last Price	- -	- -	- -	- -	936	1,041	719	430	179	791	304	156	20.34	10.53
High Price	- -	- -	- -	- -	1,598	1,315	1,112	832	510	954	1,200.9	332	226	135
Enterprise Value Average	- -	-55	-144	-45	2,427	2,342	1,784	1,338	1,202	1,349	2,329	1,016	699	624
Enterprise Value High	- -	-55	-144	-45	3,362	2,935	2,566	1,925	1,569	2,621	3,388	1,252	1,005	3,824
Enterprise Value Low	- -	-55	-144	-45	1,701	1,947	1,251	897	690	732	1,254	785	451	433

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	2	2	2	2	2	2	2	2	2	2	2	2	34
Diluted Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	3	26
Basic Weighted Avg Shares	2	2	2	2	2	2	2	2	2	2	2	2	3	26
Revenue per Share	788.2	797.28	790.35	801.69	852.21	881.97	1,027.01	937.38	840.24	617.17	629.35	641.19	588.64	61.23
EBITDA per Share	50.29	45.99	48.08	38.01	37.96	36.83	57.55	48.35	19.14	-37.33	-4.52	-3.38	12.52	2.05
Operating Income per Share	29.79	24.81	26.37	15.17	13.12	11.74	26.99	17.5	-10.8	-57.49	-22.41	-20.91	-2.71	0.61
Basic EPS, GAAP	16.47	13.19	15.07	5.9	0.04	2.52	-117.71	-11.23	-17.36	-61.35	-28.97	-42.32	-28.45	-2.5
Basic EPS from Cont Ops	16.47	13.64	15.87	8.65	0.04	2.52	-117.71	-11.23	-17.36	-58.61	-25.9	-37.45	-28.18	-2.5
Diluted EPS, GAAP	16.47	13.19	15.07	5.9	0.04	2.5	-117.71	-11.23	-17.36	-61.35	-28.97	-42.32	-28.45	-2.5
Diluted EPS from Cont Ops	16.47	13.64	15.87	8.65	0.04	2.5	-117.71	-11.23	-17.36	-58.61	-25.9	-37.45	-28.18	-2.5
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	27.44	26.9	22.94	8.01	39.16	31.99	27.98	56.11	-3.94	14.43	0.49	38.09	-1.92	-3.25
Free Cash Flow per Basic Share	9.14	9.37	5.64	-13.89	15.22	15.68	8.03	34.72	-20.37	2.34	-13.65	27.66	-7.21	-3.74
Cash & Equivalents per Share	- -	25.06	65.23	20.26	13.47	8.94	7.52	6.46	3.74	3.52	3.7	5.91	3.93	0.34
Book Value per Share	- -	- -	- -	- -	12.96	15.46	-102.39	-112.44	-128.15	-185.22	-206.57	-246.31	-242.93	-27.08
Tangible Book Value per Share	- -	98.47	147.14	115.03	107.38	82.04	93	115.61	108	60.29	42.66	8.36	-5.18	7.37

Barnes & Noble Education, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)