(BNED) Barnes & Noble Education - Ratings and Ratios
Textbooks, Digital Courseware, Access Programs, General Merchandise, E-Commerce
Dividends
Currently no dividends paid| Risk via 10d forecast | |
|---|---|
| Volatility | 148% |
| Value at Risk 5%th | 158% |
| Relative Tail Risk | -35.00% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.24 |
| Alpha | -43.60 |
| CAGR/Max DD | -0.65 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.433 |
| Beta | 1.473 |
| Beta Downside | 1.747 |
| Drawdowns 3y | |
|---|---|
| Max DD | 97.54% |
| Mean DD | 72.56% |
| Median DD | 94.77% |
Description: BNED Barnes & Noble Education October 26, 2025
Barnes & Noble Education (BNED) runs campus-based and virtual bookstores serving U.S. colleges, universities, and K-12 schools. Its business is split between a Retail segment (physical stores, pop-up locations, cafés, and the “True Spirit” e-commerce sites) and a Wholesale segment that supplies new and used textbooks, digital courseware, and point-of-sale software directly to institutions and students via Textbooks.com.
In FY 2023 the company reported roughly $1.0 billion in revenue, with digital textbook sales growing about 12% year-over-year while overall net income remained negative, reflecting high fixed-cost structures and ongoing debt service (≈ $600 million total debt). The wholesale-to-retail margin gap has narrowed as the mix shifts toward higher-margin software subscriptions and campus-service contracts.
Key sector drivers include (1) declining undergraduate enrollment in many states, which compresses total textbook spend; (2) accelerating adoption of publisher-hosted digital platforms that reduce the demand for physical books; and (3) cost-containment pressures at colleges that favor bundled “first-day” programs and inventory-management SaaS solutions-areas where BNED’s software suite can capture incremental revenue.
If you want a data-rich, unbiased view of BNED’s valuation dynamics, a quick look at the analyst models on ValueRay can help surface the most material assumptions and scenario outcomes.
Piotroski VR‑10 (Strict, 0-10) 0.0
| Net Income (-49.7m TTM) > 0 and > 6% of Revenue (6% = 51.9m TTM) |
| FCFTA -0.08 (>2.0%) and ΔFCFTA -9.55pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 6.00% (prev 3.32%; Δ 2.69pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA -0.06 (>3.0%) and CFO -56.8m <= Net Income -49.7m (YES >=105%, WARN >=100%) |
| Net Debt (430.3m) to EBITDA (6.09m) ratio: 70.61 <= 3.0 (WARN <= 3.5) |
| Current Ratio 1.11 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (30.7m) change vs 12m ago 14.71% (target <= -2.0% for YES) |
| Gross Margin -64.13% (prev 22.12%; Δ -86.24pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 95.63% (prev 173.1%; Δ -77.52pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio -1.48 (EBITDA TTM 6.09m / Interest Expense TTM 21.6m) >= 6 (WARN >= 3) |
Altman Z'' -3.05
| (A) 0.06 = (Total Current Assets 530.8m - Total Current Liabilities 478.8m) / Total Assets 905.1m |
| (B) -0.73 = Retained Earnings (Balance) -656.6m / Total Assets 905.1m |
| (C) -0.04 = EBIT TTM -31.9m / Avg Total Assets 905.1m |
| (D) -0.79 = Book Value of Equity -656.0m / Total Liabilities 834.5m |
| Total Rating: -3.05 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 17.63
| 1. Piotroski 0.0pt |
| 2. FCF Yield -10.08% |
| 3. FCF Margin -7.94% |
| 4. Debt/Equity 6.24 |
| 5. Debt/Ebitda 70.61 |
| 6. ROIC - WACC (= -6.85)% |
| 7. RoE -28.30% |
| 8. Rev. Trend -40.48% |
| 9. EPS Trend -5.83% |
What is the price of BNED shares?
Over the past week, the price has changed by +2.26%, over one month by +16.47%, over three months by +11.18% and over the past year by -21.37%.
Is BNED a buy, sell or hold?
- Strong Buy: 0
- Buy: 0
- Hold: 1
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the BNED price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 0.8 | -91.7% |
| Analysts Target Price | 0.8 | -91.7% |
| ValueRay Target Price | 4.5 | -50.7% |
BNED Fundamental Data Overview December 09, 2025
P/S = 0.1922
P/B = 1.0637
P/EG = 1.1
Beta = 1.468
Revenue TTM = 865.6m USD
EBIT TTM = -31.9m USD
EBITDA TTM = 6.09m USD
Long Term Debt = 196.3m USD (from longTermDebt, last fiscal year)
Short Term Debt = 102.2m USD (from shortTermDebt, last fiscal year)
Debt = 440.7m USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 430.3m USD (from netDebt column, last fiscal year)
Enterprise Value = 681.3m USD (251.0m + Debt 440.7m - CCE 10.5m)
Interest Coverage Ratio = -1.48 (Ebit TTM -31.9m / Interest Expense TTM 21.6m)
FCF Yield = -10.08% (FCF TTM -68.7m / Enterprise Value 681.3m)
FCF Margin = -7.94% (FCF TTM -68.7m / Revenue TTM 865.6m)
Net Margin = -5.75% (Net Income TTM -49.7m / Revenue TTM 865.6m)
Gross Margin = -64.13% ((Revenue TTM 865.6m - Cost of Revenue TTM 1.42b) / Revenue TTM)
Gross Margin QoQ = none% (prev 20.67%)
Tobins Q-Ratio = 0.75 (Enterprise Value 681.3m / Total Assets 905.1m)
Interest Expense / Debt = 0.77% (Interest Expense 3.40m / Debt 440.7m)
Taxrate = 68.77% (-15.7m / -22.8m)
NOPAT = -9.97m (EBIT -31.9m * (1 - 68.77%)) [loss with tax shield]
Current Ratio = 1.11 (Total Current Assets 530.8m / Total Current Liabilities 478.8m)
Debt / Equity = 6.24 (Debt 440.7m / totalStockholderEquity, last fiscal year 70.6m)
Debt / EBITDA = 70.61 (Net Debt 430.3m / EBITDA 6.09m)
Debt / FCF = -6.26 (negative FCF - burning cash) (Net Debt 430.3m / FCF TTM -68.7m)
Total Stockholder Equity = 175.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.50% (Net Income -49.7m / Total Assets 905.1m)
RoE = -28.30% (Net Income TTM -49.7m / Total Stockholder Equity 175.8m)
RoCE = -8.58% (EBIT -31.9m / Capital Employed (Equity 175.8m + L.T.Debt 196.3m))
RoIC = -2.55% (negative operating profit) (NOPAT -9.97m / Invested Capital 391.1m)
WACC = 4.30% (E(251.0m)/V(691.7m) * Re(11.44%) + D(440.7m)/V(691.7m) * Rd(0.77%) * (1-Tc(0.69)))
Discount Rate = 11.44% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 20.41%
Fair Price DCF = unknown (Cash Flow -68.7m)
EPS Correlation: -5.83 | EPS CAGR: 2.95% | SUE: 0.00 | # QB: 0
Revenue Correlation: -40.48 | Revenue CAGR: -53.61% | SUE: -0.01 | # QB: 0
Additional Sources for BNED Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle