회사 개요
Barnes & Noble Education, Inc. is a specialty retailer that operates bookstores exclusively for higher education institutions and K-12 schools across the United States. The company's business model focuses on selling and renting both new and used print textbooks as well as digital textbooks, alongside offering publisher-hosted digital courseware through physical and virtual channels. This enterprise functions within the Consumer Cyclical sector and is classified under the Specialty Retail industry, positioning it as a critical supplier for educational institutions that depend on consistent access to academic materials. The company currently holds a market capitalization of $334.73M and generates annual revenue of $1.73B, employing a workforce of 2,352 individuals to support its operational footprint. These financial figures indicate that while the company maintains a significant operational scale with substantial revenue generation, its market valuation reflects a specific niche focus rather than broad consumer retail dominance.
재무 건전성
The company reported trailing twelve-month revenue of $1.73B alongside a net income of -$9,616,000, while EBITDA stood at $61.94M, revealing a distinct gap where high operating costs and specific expense structures significantly erode bottom-line profitability despite robust top-line sales. Free cash flow for the period amounted to $42.70M, which provides a measure of financial flexibility allowing the firm to manage capital expenditures and service obligations without relying solely on external financing. Gross margin is recorded at 20.3%, operating margin at 2.9%, and profit margin at -0.6%, illustrating that while the company retains a portion of sales revenue as gross profit, operating expenses consume most of that gain, resulting in a negative overall profit margin. On the balance sheet, total cash of $10.14M is substantially lower than total debt of $316.01M, and the debt-to-equity ratio stands at 108.98, indicating a highly leveraged position where debt obligations exceed equity capitalization. The current ratio of 1.42 suggests that the company holds sufficient current assets to cover short-term liabilities, though the margin for liquidity error is relatively narrow given the high debt load. Return on Equity is -3.4% and Return on Assets is 1.6%, metrics that indicate management is currently generating negative returns on shareholder equity while maintaining a modest positive return on the total asset base.
밸류에이션 평가
The trailing twelve-month P/E ratio is listed as N/A due to the negative net income, whereas the forward P/E is -0.26, implying that the market expects earnings to remain negative or for the company to be valued based on non-traditional earnings multiples in the near term. The price-to-book ratio is 1.15, indicating that the market values the company slightly above its net asset book value, which can occur when investors assign value to future growth potential despite current losses. Alternative valuation metrics such as the price-to-sales ratio of 0.19 and an EV/EBITDA of 10.34 suggest that the stock is priced at a fraction of its sales revenue relative to its enterprise value adjusted for earnings before interest, taxes, depreciation, and amortization. The stock has traded between a 52-week high of $12.21 and a 52-week low of $5.90, meaning the current price sits within a wide historical range that reflects significant market volatility over the past year. With a beta of 1.31, the stock exhibits price volatility that is higher than the broader market, moving 31% more than the benchmark index during periods of market fluctuation.
Growth & Income
Revenue growth year-over-year is 11.3%, while earnings growth year-over-year is -67.7%, demonstrating that earnings are contracting at a much faster rate than revenue, which points to rising cost pressures or structural challenges in converting sales into profit. As a non-dividend payer, the company does not distribute cash to shareholders, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, meaning all available earnings are retained to fund operations or debt reduction rather than being distributed. The overall growth and income profile is characterized by strong top-line expansion coupled with severe earnings contraction and a complete absence of dividend income for investors seeking passive cash flow.