Barnes & Noble Education, Inc.
BNEDNYSEConsumer Discretionary · Retail-Miscellaneous Shopping Goods Stores · DE · SEC filings ↗ · Compare ⊕
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SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | $1.23B | $1.24B | $252.7M | $254.7M | $1.41B | $1.85B |
| Operating income | $27.3M | −$2.4M | −$44.2M | −$60.6M | −$168.8M | −$42.8M |
| Net income | −$42.8M | −$33.8M | −$52.9M | −$52.7M | −$139.8M | −$38.3M |
| Total assets | $1.09B | $1.16B | $1.04B | $1.07B | $1.03B | $1.16B |
| Total liabilities | $800.2M | $1.04B | $936.8M | $843.2M | $738.1M | $738.7M |
| Equity | $292.9M | $121.5M | $153.1M | $228.4M | $293.0M | $417.8M |
| EPS (diluted) | $-1.82 | $-12.72 | $-19.99 | $-20.09 | $-2.81 | $-0.80 |
| Shares out. | 34.1M | 26.2M | 52.7M | 52.0M | 51.4M | 48.5M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- 2.2%
- Net margin
- −3.5%
- Return on equity
- −14.6%
- Return on assets
- −3.9%
- Return on capital (ROCE)
- 4.8%
- Liabilities / assets
- 73.2%
- Debt / equity
- 2.73×
- Book value / share
- $8.60
- Revenue growth (YoY)
- −0.6%
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -0.15distress
- Accruals / assets
- 8.7%moderate
- Beneish M-Score
- -1.87normal
- Piotroski F-Score
- 4/9mixed
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 2 severe● 4 warning● 1 good- Altman Z″ in the distress zone
- Filed a late-filing notice (Form NT) — missed an SEC deadline
- Reported a net loss
- Revenue declined year-over-year
- High leverage (liabilities > 70% of assets)
- Negative operating cash flow
- Operating margin is positive
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Risk flags
late SEC filings- NT 10-Qmissed a reporting deadline ↗Dec 12, 2025
- NT 10-Qmissed a reporting deadline ↗Sep 12, 2025
- NT 10-Kmissed a reporting deadline ↗Jul 18, 2025
- NT 10-Qmissed a reporting deadline ↗Mar 8, 2024
- NT 10-Kmissed a reporting deadline ↗Jul 14, 2023
A Form NT means the company notified the SEC it would file a periodic report late — often an accounting, audit or liquidity warning sign. Also search SEC enforcement actions for this company.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Springhouse Capital Management, LpPassive (13G)Feb 24, 2026
- Fanzzlids Holdings, LlcPassive (13G)May 15, 2025
- Philotimo Fund, LpPassive (13G)May 15, 2025
- Toro 18 Holdings LlcActivist (13D)Mar 17, 2025
- Selz Bernard TPassive (13G)Jan 6, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 2.1M | 7.8 | -8.4% |
| Apr 30, 2026 | 2.3M | 9.9 | -21.6% |
| Apr 15, 2026 | 2.9M | 16.1 | -3.8% |
| Mar 31, 2026 | 3.0M | 13.3 | -3.4% |
| Mar 13, 2026 | 3.1M | 11.0 | -2.1% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Shareholder voteMar 16, 2026
- Results of operationsMar 10, 2026
- Results of operationsJan 20, 2026
- Results of operationsDec 23, 2025
- Results of operations · Prior financials not reliable (restatement) · Other material eventNov 25, 2025
- Results of operationsSep 12, 2025
- Results of operations · Prior financials not reliable (restatement)Aug 29, 2025
- Delisting / listing-standard notice · Regulation FD disclosureAug 8, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.