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Barnes & Noble Education
(NYSE:BNED)
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Rating:62Neutral
Price Target:
$12.00
▼(-4.08% Downside)
Action:Reiterated
Date:09/30/26
BNED scores as moderately attractive primarily due to improving financial performance (profitability turnaround, sharply lower debt, and positive free cash flow). The score is held back by thin margins and historically volatile cash flow, while technicals are neutral-to-soft (negative MACD and trading below the 50DMA). Valuation and recent corporate actions (notably the dividend) provide additional support.
Positive Factors
Revenue and Profitability Turnaround
The shift from substantial prior losses to positive EBIT and net income, alongside strong revenue growth, indicates meaningful operating improvement. If sustained, this turnaround can strengthen internal funding capacity, support investment in course-material offerings, and improve resilience over the next several quarters.
Negative Factors
Thin Profit Margins
BNED’s profitability remains thin despite the recent turnaround, leaving limited earnings cushion if demand weakens or costs rise. Low margins make sustained execution especially important because relatively modest pressure on course materials, retail, or operating expenses could materially reduce net income.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profitability Turnaround
The shift from substantial prior losses to positive EBIT and net income, alongside strong revenue growth, indicates meaningful operating improvement. If sustained, this turnaround can strengthen internal funding capacity, support investment in course-material offerings, and improve resilience over the next several quarters.
Read all positive factors
Barnes & Noble Education Key Performance Indicators (KPIs)
Any
Revenue By Segment
Breaks down sales across various business areas, showing which segments are leading growth and contributing most to the top line.
Breaks down sales across various business areas, showing which segments are leading growth and contributing most to the top line.
Data provided by:
The Fly
The FlyBarnes & Noble Education (BNED) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$405.93M
Dividend Yield0.68%
Average Volume (3M)265.76K
Price to Earnings (P/E)18.0
Beta (1Y)2.23
Revenue Growth5.03%
EPS Growth-26.43%
CountryUS
Employees3,613
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.65
Shares Outstanding34,664,980
10 Day Avg. Volume197,793
30 Day Avg. Volume265,756
Financial Highlights & Ratios
PEG Ratio-0.18
Price to Book (P/B)1.20
Price to Sales (P/S)0.21
P/FCF Ratio10.41
Enterprise Value/Market Cap1.68
Enterprise Value/Revenue0.40
Enterprise Value/Gross Profit1.89
Enterprise Value/Ebitda9.94
Forecast
1Y Price Target
$17.25Price Target Upside37.89% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.86
Revenue Forecast (FY)$1.80B
Barnes & Noble Education Business Overview & Revenue Model
Company Description
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...
How the Company Makes Money
BNED primarily makes money by selling and distributing course materials and operating retail bookstore services for higher-education institutions. Key revenue streams include: (1) Course materials revenue: Sales and rentals of new and used textboo...
Barnes & Noble Education Earnings Call Summary
Earnings Call Date:Dec 06, 2023
(Q2-2024)
| % Change Since: |
Next Earnings Date:Dec 09, 2026
Earnings Call Sentiment Positive
The earnings call reflects a period of solid growth and strategic progress for BNED, particularly in its First Day Complete and subscription-like revenue models, which have led to significant EBITDA growth and operational efficiencies. Despite some challenges in general merchandise sales and retail gross margin, the overall sentiment of the call is positive due to the successful implementation of cost-saving measures and the strategic transition to more predictable revenue streams.Positive Updates
Strong Growth in First Day Complete Revenue
First Day Complete revenue increased 52% year-over-year to $136 million. Combined First Day programs revenue reached $199 million, marking a 39% growth.
Negative Updates
Decline in General Merchandise Sales
Comparable store sales for general merchandise declined by 1.7%, primarily due to declines in trade books and cafe and convenience items.
Read all updates
Q2-2024 Updates
Positive
Negative
Strong Growth in First Day Complete Revenue
First Day Complete revenue increased 52% year-over-year to $136 million. Combined First Day programs revenue reached $199 million, marking a 39% growth.
Read all positive updates
Company Guidance
During the Barnes & Noble Education (BNED) Fiscal 2024 2nd Quarter Earnings Call, the company provided several key metrics and insights into its performance and future guidance. The highlight of the quarter was the significant growth in the First Day Complete (FDC) program, which saw a 52% year-over-year revenue increase to $136 million, contributing to a total First Day programs revenue of $199 million. This growth helped offset declines in traditional à la carte courseware sales, with the First Day Complete and First Day revenues approaching 50% of the total course material revenue. This strategic shift has led to improved revenue visibility and operational efficiency, despite the company operating 128 fewer stores. The quarter's total revenue reached $610.4 million, marking a slight increase of 0.3% from the previous year, while consolidated adjusted EBITDA rose by 28.3% to $50.3 million, driven by a $13 million reduction in selling and administrative expenses. Looking ahead, BNED maintains its fiscal 2024 adjusted EBITDA guidance of approximately $40 million, expecting continued growth from its retail segment and ongoing cost reduction initiatives.Barnes & Noble Education Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
61
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Apr 2026 | Oct 2025 | Apr 2024 | Jul 2023 | Apr 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.72B | 1.71B | 1.61B | 1.57B | 1.54B | 1.50B |
| Gross Profit | 360.41M | 366.17M | 337.80M | 344.91M | 349.44M | 342.83M |
| EBITDA | 68.53M | 65.72M | -6.18M | -5.21M | -26.87M | -18.11M |
| Net Income | 22.23M | 16.87M | -65.83M | -75.75M | -101.86M | -68.86M |
Balance Sheet | ||||||
| Total Assets | 846.73M | 739.90M | 790.28M | 909.95M | 980.78M | 1.07B |
| Cash, Cash Equivalents and Short-Term Investments | 7.81M | 8.42M | 9.06M | 10.46M | 14.22M | 8.79M |
| Total Debt | 273.21M | 223.50M | 283.12M | 413.92M | 466.88M | 542.44M |
| Total Liabilities | 568.36M | 445.46M | 518.10M | 829.55M | 850.03M | 843.18M |
| Stockholders Equity | 278.37M | 294.44M | 272.19M | 80.40M | 130.75M | 228.37M |
Cash Flow | ||||||
| Free Cash Flow | 48.80M | 33.86M | -98.31M | -19.19M | 66.58M | -32.45M |
| Operating Cash Flow | 64.79M | 50.06M | -85.41M | -5.12M | 91.67M | 1.16M |
| Investing Cash Flow | -15.99M | -16.20M | -12.10M | 7.40M | -31.04M | -42.66M |
| Financing Cash Flow | -49.64M | -34.37M | 97.67M | -5.70M | -49.67M | 45.72M |
Barnes & Noble Education Technical Analysis
Positive
12.51
Price Trends
11.91
Negative
11.49
Positive
10.29
Positive
Market Momentum
-0.09
Negative
54.37
Neutral
84.54
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BNED, the sentiment is Positive. The current price of 12.51 is above the 20-day moving average (MA) of 11.23, above the 50-day MA of 11.91, and above the 200-day MA of 10.29, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 54.37 is Neutral, neither overbought nor oversold. The STOCH value of 84.54 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BNED.
Barnes & Noble Education Risk Analysis
Barnes & Noble Education disclosed 42 risk factors in its most recent earnings report. Barnes & Noble Education reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Barnes & Noble Education Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $1.35B | 40.78 | 15.18% | ― | 5.18% | 24.25% | |
62 Neutral | $405.93M | 18.02 | 7.76% | 0.68% | 5.03% | -26.43% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $304.01M | 0.90 | 95.71% | ― | 0.40% | 5804.60% | |
56 Neutral | $249.44M | -1.29 | -4851.60% | ― | 8.84% | 39.01% | |
43 Neutral | $164.31M | -1.22 | -63.92% | ― | -10.81% | 33.07% |
* Consumer Cyclical Sector Average
BNED
Barnes & Noble Education
11.71
2.19
23.02%
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2.56
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LQDT
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43.23
16.14
59.58%
LE
Lands' End
10.29
-5.29
-33.95%
CHPT
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9.29
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-22.97%
Barnes & Noble Education Corporate Events
Executive/Board ChangesShareholder Meetings
Barnes & Noble Education Shareholders Reinforce Governance Support
Positive
Sep 30, 2026
At the 2026 Annual Meeting of Stockholders held on September 24, 2026, Barnes Noble Education shareholders elected all board nominees, including William C. Martin, Emily S. Hoffman and four other directors, with strong support across the slate. S...
Dividends
Barnes & Noble Education Declares Quarterly Cash Dividend
Positive
Sep 24, 2026
On September 24, 2026, Barnes Noble Education, Inc. announced that its board of directors declared a quarterly cash dividend of $0.08 per share of common stock. The dividend underscores the company’s current capital allocation approach and ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.