Revenue has experienced a persistent downward trajectory, falling from $384.5M in 2023Q4 to $247.8M in 2026Q1, while operating margins remain structurally negative at -7.3%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Feb'23 | Feb'22 | Feb'21 | Feb'20 | Mar'19 | Mar'18 | Feb'17 | Feb'16 | Feb'15 | Mar'14 | Mar'13 | Feb'12 | Feb'11 | Feb'10 | Feb'09 | Mar'08 | Mar'07 | Feb'06 | Feb'05 | Feb'04 | Mar'03 | Mar'02 | Mar'01 | Feb'00 | Feb'99 | Feb'98 | Mar'97 |
|---|
| Sales/Revenue | 1.06B | 1.04B | 1.39B | 1.56B | 1.93B | 2.76B | 2.49B | 1.46B | 1.82B | 1.74B | 1.8B | 1.66B | 1.5B | 1.3B | 1.1B | 1.05B | 1.09B | 876.77M | 829.85M | 760.16M | 788.15M | 799.32M | 5.15B | 4.48B | 3.67B | 2.93B | 2.4B | 1.88B | 1.4B | 1.07B | 823.2M |
| Revenue Growth % | -14.77% | -25.12% | -10.64% | -19.08% | -30.01% | 10.53% | 70.88% | -19.88% | 4.4% | -3.07% | 8.57% | 10.74% | 14.79% | 18.64% | 4.27% | -3.27% | 24.31% | 5.65% | 9.17% | -3.55% | -1.4% | -84.47% | 14.96% | 22.18% | 25.18% | 22.17% | 27.62% | 34.41% | 31% | 29.57% | 36.9% |
| Cost of Goods Sold | 797.48M | 787.09M | 1.12B | 1.27B | 1.5B | 2.15B | 1.94B | 1.2B | 1.5B | 1.44B | 1.5B | 1.38B | 1.24B | 1.07B | 916.4M | 890.83M | 913.63M | 723.64M | 706.91M | 632.59M | 693.35M | 682.44M | 2.96B | 2.6B | 2.15B | 1.72B | 1.36B | 1.08B | 797.9M | 607.4M | 468.6M |
| COGS % of Revenue | - | 75.35% | 80.46% | 81.05% | 77.85% | 78.01% | 77.93% | 81.9% | 82.29% | 82.35% | 83.31% | 83.12% | 82.55% | 82.1% | 83.36% | 84.5% | 83.83% | 82.53% | 85.19% | 83.22% | 87.97% | 85.38% | 57.53% | 58.09% | 58.57% | 58.76% | 56.89% | 57.48% | 57.11% | 56.95% | 56.92% |
| Gross Profit | 263.14M | 257.52M | 272.55M | 295.84M | 427.37M | 606.04M | 550.37M | 264.19M | 322.56M | 308.01M | 300.41M | 279.84M | 261.28M | 233.52M | 182.89M | 163.45M | 176.24M | 153.13M | 122.94M | 127.57M | 94.8M | 116.88M | 2.19B | 1.88B | 1.52B | 1.21B | 1.03B | 798.48M | 599.3M | 459.2M | 354.6M |
| Gross Margin % | 24.81% | 24.65% | 19.54% | 18.95% | 22.15% | 21.99% | 22.07% | 18.1% | 17.71% | 17.65% | 16.69% | 16.88% | 17.45% | 17.9% | 16.64% | 15.5% | 16.17% | 17.47% | 14.82% | 16.78% | 12.03% | 14.62% | 42.47% | 41.91% | 41.43% | 41.24% | 43.11% | 42.52% | 42.89% | 43.05% | 43.08% |
| Gross Profit Growth % | - | -5.51% | -7.87% | -30.78% | -29.48% | 10.11% | 108.33% | -18.1% | 4.73% | 2.53% | 7.35% | 7.1% | 11.89% | 27.68% | 11.89% | -7.26% | 15.09% | 24.56% | -3.63% | 34.57% | -18.89% | -94.65% | 16.5% | 23.58% | 25.75% | 16.89% | 29.38% | 33.24% | 30.51% | 29.5% | 36.38% |
| Operating Expenses | 319.01M | 318.74M | 463.52M | 413.95M | 400.36M | 494.96M | 453.65M | 389.19M | 537.64M | 354.64M | 313.01M | 280.37M | 249.71M | 217.42M | 170.65M | 180.99M | 161.84M | 145.17M | 132.4M | 156.89M | 182.89M | 138.1M | 1.39B | 1.24B | 1.04B | 861.47M | 713.62M | 589.14M | 441.3M | 340.3M | 264M |
| OpEx % of Revenue | - | 30.51% | 33.23% | 26.52% | 20.75% | 17.96% | 18.19% | 26.67% | 29.51% | 20.33% | 17.39% | 16.91% | 16.68% | 16.67% | 15.52% | 17.17% | 14.85% | 16.56% | 15.95% | 20.64% | 23.21% | 17.28% | 27.08% | 27.63% | 28.33% | 29.42% | 29.78% | 31.37% | 31.58% | 31.91% | 32.07% |
| Selling, General & Admin | 260.04M | 196.93M | 366.08M | 311.21M | 291.44M | 385.76M | 353.11M | 278.38M | 430.81M | 266.99M | 234.85M | 204.57M | 180.11M | 158.55M | 119.36M | 128.38M | 116.07M | 103.78M | 96.86M | 97.43M | 117.73M | 110.2M | 1.39B | 1.24B | 1.04B | 861.47M | 713.62M | 557.52M | 418.1M | 322.1M | 250.6M |
| SG&A % of Revenue | - | 18.85% | 26.24% | 19.93% | 15.11% | 13.99% | 14.16% | 19.07% | 23.65% | 15.3% | 13.05% | 12.34% | 12.03% | 12.16% | 10.86% | 12.18% | 10.65% | 11.84% | 11.67% | 12.82% | 14.94% | 13.79% | 27.08% | 27.63% | 28.33% | 29.42% | 29.78% | 29.69% | 29.92% | 30.2% | 30.44% |
| Research & Development | 77.79M | 0 | 97.43M | 102.74M | 108.92M | 109.2M | 100.54M | 110.81M | 106.84M | 87.65M | 78.16M | 75.8M | 69.61M | 58.87M | 51.29M | 52.61M | 45.77M | 41.39M | 35.54M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 6.98% | 6.58% | 5.65% | 3.96% | 4.03% | 7.59% | 5.87% | 5.02% | 4.34% | 4.57% | 4.65% | 4.51% | 4.67% | 4.99% | 4.2% | 4.72% | 4.28% | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 121.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59.45M | 65.16M | 27.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -55.87M | -61.21M | -190.97M | -118.11M | 27.01M | 111.07M | 96.72M | -125.01M | -215.08M | -46.63M | -12.61M | -534K | 11.56M | 16.09M | 12.24M | -17.53M | 14.4M | 7.96M | -9.46M | -29.32M | -88.09M | -21.22M | 792.41M | 639.34M | 480.06M | 346.1M | 272.84M | 209.34M | 158M | 118.9M | 90.6M |
| Operating Margin % | -5.27% | -5.86% | -13.69% | -7.57% | 1.4% | 4.03% | 3.88% | -8.57% | -11.81% | -2.67% | -0.7% | -0.03% | 0.77% | 1.23% | 1.11% | -1.66% | 1.32% | 0.91% | -1.14% | -3.86% | -11.18% | -2.66% | 15.39% | 14.28% | 13.1% | 11.82% | 11.38% | 11.15% | 11.31% | 11.15% | 11.01% |
| Operating Income Growth % | - | 67.95% | -61.69% | -537.3% | -75.68% | 14.84% | 177.37% | 41.88% | -361.2% | -269.96% | -2260.49% | -104.62% | -28.15% | 31.52% | 169.79% | -221.8% | 80.83% | 184.18% | 67.74% | 66.72% | -315.08% | -102.68% | 23.94% | 33.18% | 38.7% | 26.85% | 30.33% | 32.49% | 32.88% | 31.24% | 34.02% |
| EBITDA | -35.52M | -44.94M | -171.91M | -98.66M | 48.97M | 134.56M | 123.35M | -87.3M | -183.38M | -13.79M | 18.65M | 24.56M | 29.63M | 30.62M | 28.25M | -1.18M | 28.98M | 20.84M | 13.51M | 179K | -55.77M | -7.11M | 889.9M | 723.99M | 555.87M | 408.65M | 319.49M | 240.97M | 181.2M | 137.1M | 104M |
| EBITDA Margin % | -3.35% | -4.3% | -12.32% | -6.32% | 2.54% | 4.88% | 4.95% | -5.98% | -10.07% | -0.79% | 1.04% | 1.48% | 1.98% | 2.35% | 2.57% | -0.11% | 2.66% | 2.38% | 1.63% | 0.02% | -7.08% | -0.89% | 17.29% | 16.17% | 15.17% | 13.96% | 13.33% | 12.83% | 12.97% | 12.85% | 12.63% |
| EBITDA Growth % | 74.09% | 73.86% | -74.25% | -301.47% | -63.61% | 9.09% | 241.3% | 52.39% | -1230.09% | -173.94% | -24.09% | -17.09% | -3.23% | 8.39% | 2485.64% | -104.09% | 39.01% | 54.27% | 7448.04% | 100.32% | -684.1% | -100.8% | 22.92% | 30.24% | 36.03% | 27.91% | 32.59% | 32.98% | 32.17% | 31.83% | 34.19% |
| D&A (Non-Cash Add-back) | 20.36M | 16.28M | 19.06M | 19.45M | 21.96M | 23.49M | 26.64M | 37.71M | 31.7M | 32.85M | 31.25M | 25.1M | 18.06M | 14.52M | 16.01M | 16.35M | 14.58M | 12.88M | 22.97M | 29.5M | 32.33M | 14.11M | 97.49M | 84.64M | 75.81M | 62.55M | 46.65M | 31.63M | 23.2M | 18.2M | 13.4M |
| EBIT | -62.28M | -83.8M | -255.91M | -264.36M | -33.85M | 123.57M | 107.05M | -134.19M | -218.49M | -44.8M | 21.43M | 3.25M | 13.24M | 16.46M | 15.96M | -17.09M | 17.21M | 11.47M | -7.14M | -36.9M | -90.12M | -16.5M | 811.19M | 0 | 480.06M | 346.1M | 319.49M | 209.34M | 154.5M | 116.4M | 89.9M |
| Net Interest Income | 6.02M | 0 | 6.76M | 12.01M | 2.96M | -556K | -838K | 1.46M | 740K | -2.28M | -556K | 15K | 113K | 14K | -693K | -2.32M | -2.81M | -3.3M | -402K | 600K | -1.2M | -5.85M | 18.77M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 6.02M | 0 | 8.97M | 13.77M | 2.96M | 0 | 0 | 1.8M | 2.21M | 659K | 326K | 155K | 152K | 127K | 116K | 161K | 157K | 170K | 3.16M | 4.79M | 3.57M | 0 | 18.77M | 10.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 2.2M | 1.76M | 0 | 556K | 838K | 342K | 1.47M | 2.94M | 882K | 140K | 39K | 113K | 809K | 2.48M | 2.96M | 3.47M | 3.56M | 4.19M | 4.76M | 5.85M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -4.35M | -22.58M | -67.14M | -148.02M | -60.86M | 11.94M | -225K | -9.53M | -4.88M | -1.1M | 33.15M | 3.65M | 1.64M | 250K | 2.92M | -2.05M | -148K | 43K | -1.55M | -11.78M | -6.79M | -1.12M | 18.77M | 10.2M | 11.29M | 10.97M | 9M | 5.79M | 3.5M | 2.5M | 700K |
| Pretax Income | -60.23M | -83.8M | -258.11M | -266.12M | -33.85M | 123.02M | 96.49M | -134.53M | -219.95M | -47.73M | 20.55M | 3.12M | 13.21M | 16.34M | 15.15M | -19.58M | 14.25M | 8M | -11.01M | -41.09M | -94.88M | -22.35M | 811.19M | 649.54M | 491.35M | 357.07M | 281.84M | 215.13M | 161.5M | 121.4M | 91.3M |
| Pretax Margin % | -5.68% | -8.02% | -18.5% | -17.05% | -1.75% | 4.46% | 3.87% | -9.22% | -12.07% | -2.74% | 1.14% | 0.19% | 0.88% | 1.25% | 1.38% | -1.86% | 1.31% | 0.91% | -1.33% | -5.41% | -12.04% | -2.8% | 15.76% | 14.51% | 13.41% | 12.2% | 11.76% | 11.46% | 11.56% | 11.38% | 11.09% |
| Income Tax | 880K | 825K | 684K | 41.72M | 1.38M | -48.77M | 1.36M | 185K | -2.38M | 64.19M | 9.3M | 1.9M | 4.4M | -72.17M | 485K | -142K | 359K | 257K | 0 | 0 | 0 | 0 | 306.22M | 250.07M | 189.17M | 137.47M | 109.92M | 83.9M | 64.2M | 48.3M | 36.3M |
| Effective Tax Rate % | -1.46% | -0.98% | -0.27% | -15.68% | -4.09% | -39.65% | 1.41% | -0.14% | 1.08% | -134.47% | 45.25% | 60.83% | 33.35% | -441.54% | 3.2% | 0.73% | 2.52% | 3.21% | 0% | 0% | 0% | 0% | 37.75% | 38.5% | 38.5% | 38.5% | 39% | 39% | 39.75% | 39.79% | 39.76% |
| Net Income | -61.11M | -84.62M | -258.8M | -307.84M | -35.24M | 108.55M | 52.24M | -120.18M | -207.34M | -112.84M | 12.52M | 2.45M | 8.85M | 88.51M | 14.67M | -19.44M | 13.89M | 7.75M | -11.01M | -45.02M | -101.77M | -24.92M | 504.96M | 399.47M | 302.18M | 219.6M | 171.92M | 131.23M | 97.3M | 73.1M | 55M |
| Net Margin % | -5.76% | -8.1% | -18.55% | -19.72% | -1.83% | 3.94% | 2.09% | -8.23% | -11.38% | -6.47% | 0.7% | 0.15% | 0.59% | 6.79% | 1.33% | -1.84% | 1.27% | 0.88% | -1.33% | -5.92% | -12.91% | -3.12% | 9.81% | 8.92% | 8.24% | 7.5% | 7.17% | 6.99% | 6.96% | 6.85% | 6.68% |
| Net Income Growth % | 72.81% | 67.3% | 15.93% | -773.66% | -132.46% | 107.8% | 143.47% | 42.04% | -83.75% | -1001.12% | 411.94% | -72.37% | -90% | 503.37% | 175.47% | -239.95% | 79.28% | 170.39% | 75.55% | 55.77% | -308.4% | -104.93% | 26.41% | 32.2% | 37.6% | 27.73% | 31.01% | 34.87% | 33.11% | 32.91% | 39.24% |
| Net Income (Continuing) | -61.11M | -84.62M | -258.8M | -307.84M | -35.24M | 171.79M | 95.13M | -134.72M | -217.57M | -111.92M | 11.25M | 1.22M | 8.8M | 88.51M | 14.67M | -19.44M | 13.89M | 7.75M | -11.01M | -41.09M | -94.88M | -22.35M | 504.96M | 0 | 302.18M | 219.6M | 171.92M | 131.23M | 97.3M | 73.1M | 55M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | -46.83M | -36.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3.92M | -6.88M | -2.57M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 361K | 361K | 0 | 0 | 0 | 0 | 62.63M | 62.77M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.89 | -1.41 | -5.56 | -6.81 | -0.80 | 2.49 | 1.24 | -3.46 | -6.83 | -4.28 | 0.49 | 0.10 | 0.36 | 3.64 | 0.62 | -0.84 | 0.59 | 0.33 | -0.48 | -1.90 | -5.01 | -1.29 | 1.65 | 1.31 | 1.00 | 0.74 | 0.59 | 0.46 | 0.34 | 0.26 | 0.20 |
| EPS Growth % | 79.62% | 74.64% | 18.33% | -756.43% | -131.95% | 101.01% | 135.77% | 49.37% | -59.77% | -973.02% | 390% | -72.22% | -90.12% | 487.61% | 173.81% | -242.37% | 78.79% | 168.75% | 74.74% | 62.08% | -288.37% | -178.18% | 25.95% | 31% | 35.14% | 25.42% | 28.26% | 35.29% | 30.77% | 30% | 33.33% |
| EPS (Basic) | - | -1.41 | -5.56 | -6.81 | -0.80 | 2.51 | 1.25 | -3.46 | -6.83 | -4.28 | 0.49 | 0.10 | 0.37 | 3.73 | 0.63 | -0.84 | 0.60 | 0.34 | -0.48 | -1.90 | -5.01 | -1.29 | 1.68 | 1.35 | 1.03 | 0.76 | 0.61 | 0.47 | 0.35 | 0.27 | 0.20 |
| Diluted Shares Outstanding | 69.05M | 60.13M | 46.54M | 45.21M | 44.32M | 43.33M | 41.61M | 34.87M | 29.98M | 25.04M | 25.43M | 24.7M | 24.32M | 24.29M | 23.67M | 23.26M | 23.37M | 23.07M | 22.9M | 23.7M | 20.33M | 19.43M | 306.64M | 304.69M | 301.15M | 298.67M | 292.88M | 288.23M | 286.47M | 284.72M | 275M |
| Basic Shares Outstanding | 69.05M | 60.13M | 46.54M | 45.21M | 44.32M | 42.98M | 41.22M | 34.87M | 29.98M | 25.04M | 25.34M | 24.61M | 24M | 23.71M | 23.39M | 23.26M | 23.02M | 22.82M | 22.9M | 23.7M | 20.33M | 19.43M | 300.74M | 296.85M | 292.93M | 298.67M | 283.93M | 279.93M | 277.68M | 275.33M | 275M |
| Dividend Payout Ratio | - | - | - | - | - | 0.69% | - | - | - | - | 444.11% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Structural revenue collapse
As indicated by the provided financial data, the company has experienced a sustained decline in top-line performance, with quarterly revenue falling from $384.5M in 2023Q4 to $247.8M in 2026Q1, reflecting a fundamental loss of market share and diminished consumer engagement across its core retail segments.
The consistent downward trajectory in revenue suggests that the company's value proposition has failed to resonate in an increasingly competitive omnichannel landscape. Investors should monitor whether this contraction represents a strategic downsizing of the store footprint or an accelerating loss of customer loyalty that threatens the viability of the remaining business model.
Based on reported figures, gross margins have fluctuated within a narrow, low-performing range, peaking at 27.7% in 2025Q4 before retreating to 23.9% in 2026Q1, which highlights the company's inability to maintain pricing power amidst a highly promotional and competitive retail environment for home goods.
The inability to sustain gross margins above 30% suggests that the company is forced to rely on aggressive discounting to drive foot traffic, which ultimately erodes profitability. This margin profile appears structurally inferior to premium peers, implying that the brand lacks the necessary differentiation to command full-price sales in the current economic climate.
According to the income statement history, the company has consistently failed to achieve positive operating income, with operating margins reaching a low of -16.8% in 2023Q4 and remaining negative at -7.3% in 2026Q1, demonstrating a persistent inability to scale operations efficiently relative to fixed costs.
The failure to achieve operating leverage suggests that the company's fixed-cost base, particularly regarding occupancy and administrative overhead, remains misaligned with its current revenue scale. This persistent operating loss warrants investigation into whether management can successfully rationalize the cost structure before the remaining liquidity is fully exhausted.
As reported in financial statements, the company has recorded consistent net losses over the last ten quarters, with net margins reaching a nadir of -41.9% in 2023Q4, indicating that the bottom line is heavily burdened by operational inefficiencies and non-operating expenses that obscure underlying performance.
The recurring net losses suggest that the company's earnings quality is severely compromised, as there is no core profitability to support the business. Investors should be wary of the impact of stock-based compensation and potential impairment charges, which may further distort the true economic reality of the company's financial health.
Based on the provided data, the company's inability to return to positive operating margins despite significant revenue contraction suggests that the business model may be facing structural obsolescence rather than a temporary cyclical downturn, a view that short-sellers would likely emphasize given the current cash burn.
The persistent negative operating margins and declining revenue suggest that the company is trapped in a cycle of deleveraging that is difficult to reverse without a radical transformation. Market participants should consider the risk that the brand's residual value is insufficient to offset the ongoing operational losses and the potential for further liquidity constraints.
Quick answers to the most common questions about buying BBBY stock.
For fiscal year 2025, Bed Bath & Beyond Inc. (BBBY) reported total revenue of $1.04B. This represents a 26.9% increase compared to $823.2M in 1996.
Bed Bath & Beyond Inc. (BBBY) reported a net loss of $84.6M for the fiscal year ending 2025.
Bed Bath & Beyond Inc. (BBBY) reported an operating income of $-61.2M, resulting in an operating profit margin of -5.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Bed Bath & Beyond Inc. (BBBY) generated $257.5M in gross profit for the year, representing a gross profit margin of 24.7%. This demonstrates the company's core pricing power and production efficiency.