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Build-A-Bear Workshop, Inc. (BBW) Financial Ratios

Latest Ratios: P/E Ratio 7.9x · EV/EBITDA 6.2x · ROE 35.5%. (2000–2025 historical series)

BBW Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Market Cap	$393M	$781M	$577M	$329M	$368M	$279M	$84M	$62M	$68M	$145M	$215M
Enterprise Value	$493M	$881M	$646M	$368M	$413M	$344M	$183M	$186M	$50M	$115M	$182M
P/E Ratio →	7.85	14.96	11.14	6.22	7.67	5.91	—	236.16	—	18.40	152.78
P/S Ratio	0.74	1.47	1.16	0.68	0.79	0.68	0.33	0.18	0.20	0.41	0.59
P/B Ratio	2.64	5.04	4.15	2.54	3.09	2.98	1.27	0.70	0.72	1.35	2.17
P/FCF	9.95	19.76	20.77	7.15	10.95	14.01	10.04	6.69	—	43.60	—
P/OCF	6.04	12.00	12.25	5.11	7.79	9.95	6.25	2.86	6.98	6.87	13.41

P/E links to full P/E history page with 30-year chart

BBW EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
EV / Revenue	—	1.66	1.30	0.76	0.88	0.84	0.72	0.55	0.15	0.32	0.50
EV / EBITDA	6.20	11.08	7.97	4.66	6.66	6.79	—	117.71	—	3.82	8.49
EV / EBIT	7.64	13.64	9.75	5.63	6.60	6.79	—	110.68	—	8.28	34.31
EV / FCF	—	22.31	23.26	8.00	12.27	17.26	21.91	20.11	—	34.44	—

BBW Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Gross Margin	55.8%	55.8%	54.9%	54.4%	52.5%	53.0%	38.1%	45.4%	41.2%	47.2%	45.6%
Operating Margin	12.2%	12.2%	13.4%	13.5%	10.6%	9.3%	-13.7%	-3.6%	-5.5%	3.9%	1.5%
Net Profit Margin	9.9%	9.9%	10.4%	10.9%	10.3%	11.5%	-9.6%	0.1%	-5.3%	2.2%	0.4%

Return on Capital

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
ROE	35.5%	35.5%	38.5%	42.5%	45.1%	59.3%	-31.9%	0.3%	-17.8%	7.7%	1.4%
ROA	16.4%	16.4%	18.4%	19.1%	17.5%	17.9%	-8.8%	0.1%	-9.7%	4.0%	0.7%
ROIC	20.9%	20.9%	26.4%	29.5%	23.0%	17.8%	-14.0%	-6.3%	-18.0%	14.5%	6.6%
ROCE	27.8%	27.8%	33.2%	35.5%	28.4%	22.5%	-18.3%	-7.4%	-15.1%	11.3%	4.5%

BBW Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Debt / Equity	0.82	0.82	0.70	0.64	0.73	1.04	2.04	1.70	—	—	—
Debt / EBITDA	1.60	1.60	1.20	1.06	1.40	1.93	—	95.52	—	—	—
Net Debt / Equity	—	0.65	0.50	0.30	0.37	0.69	1.51	1.40	-0.19	-0.28	-0.33
Net Debt / EBITDA	1.26	1.26	0.85	0.50	0.72	1.28	—	78.56	—	-1.02	-1.51
Debt / FCF	—	2.54	2.49	0.85	1.32	3.25	11.87	13.42	—	-9.16	—
Interest Coverage	—	—	76.98	—	3291.74	—	-2017.60	111.73	-216.73	1256.73	1062.80

BBW Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Current Ratio	1.55	1.55	1.59	1.53	1.46	1.33	1.12	1.15	1.78	1.58	1.33
Quick Ratio	0.64	0.64	0.71	0.77	0.76	0.60	0.60	0.53	0.74	0.82	0.70
Cash Ratio	0.30	0.30	0.35	0.53	0.42	0.34	0.39	0.31	0.32	0.44	0.39
Asset Turnover	—	1.53	1.71	1.79	1.67	1.55	0.98	1.14	1.96	1.81	1.82
Inventory Turnover	2.85	2.85	3.21	3.49	3.15	2.70	3.37	3.46	3.39	3.55	3.82
Days Sales Outstanding	—	14.78	11.84	6.43	11.99	10.38	11.86	12.43	11.48	13.57	12.97

BBW Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Dividend Yield	2.8%	1.5%	1.9%	0.0%	0.1%	7.1%	—	—	—	—	—
Payout Ratio	22.1%	22.1%	21.3%	0.1%	0.6%	—	—	—	—	—	—

Total Shareholder Return Metrics

Metric	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Earnings Yield	12.7%	6.7%	9.0%	16.1%	13.0%	16.9%	—	0.4%	—	5.4%	0.7%
FCF Yield	10.1%	5.1%	4.8%	14.0%	9.1%	7.1%	10.0%	15.0%	—	2.3%	—
Buyback Yield	7.1%	3.6%	5.4%	6.2%	6.6%	1.6%	0.0%	0.4%	3.3%	2.9%	0.7%
Total Shareholder Yield	9.9%	5.0%	7.3%	6.2%	6.6%	8.7%	0.0%	0.4%	3.3%	2.9%	0.7%
Shares Outstanding	—	$13M	$14M	$14M	$15M	$16M	$15M	$15M	$15M	$16M	$16M

Key Metrics

Growth RegimeMixed

ProfitabilityModerate

Balance SheetHealthy

Cash FlowMixed

Top Statement Risk

Mall traffic dependency

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Market Mispricing Experiential IP Platform

According to current market data, BBW trades at a TTM P/E of 7.85 and an EV/EBITDA of 6.20, suggesting that investors are pricing the company as a stagnant mall retailer rather than a specialized IP-aggregator with significant brand stickiness and high-margin experiential revenue streams.

The current valuation multiples appear to imply a lack of growth durability that contradicts the company's successful pivot toward the 'kidult' demographic and non-traditional retail formats. Investors should monitor whether the market continues to apply a retail discount, which may obscure the underlying value of the company's proprietary experiential manufacturing model.

Capital Efficiency Tied to Seasonality

Based on reported financial statements, ROIC has fluctuated between 3.4% and 11.6% over the last ten quarters, indicating that the company's ability to compound capital is highly sensitive to seasonal revenue cycles and the successful execution of its experiential retail footprint in high-traffic locations.

The volatility in ROIC suggests that while the business model is inherently high-margin, the capital intensity required to maintain physical workshops creates a hurdle for consistent compounding. The recent trend warrants further investigation into whether management can sustain higher returns as they shift toward smaller, more efficient store formats.

Working Capital Cycles Reflect Complexity

As reported in recent filings, the cash conversion cycle has remained elevated, peaking at 148 days in 2026Q1, which highlights the significant inventory management challenges inherent in balancing seasonal demand with the specialized components required for the company's unique 'stuffing' and customization retail process.

The high DIO relative to peers suggests that the company must carry substantial inventory to support its experiential model, which ties up working capital and increases exposure to potential obsolescence. Investors should monitor the DPO and DSO trends to see if the company can leverage its supplier relationships to better offset these inventory-related cash outflows.

Conservative Leverage Supports Operational Flexibility

According to the latest balance sheet data, the company maintains a low debt-to-equity ratio of 0.79, providing a robust financial buffer that allows management to navigate retail volatility and fund strategic initiatives without the immediate pressure of significant debt service obligations in a high-rate environment.

This conservative capital structure appears to be a deliberate strategy to mitigate the risks associated with the company's high fixed-cost retail footprint. The lack of significant debt suggests that the company is well-positioned to weather potential downturns in mall traffic, though it may limit the ability to pursue aggressive, debt-funded expansion.

Misapplication of Retail Multiples

The most commonly misapplied metric for this business is the traditional P/S ratio, which fails to account for the company's unique role as an IP-aggregator and experiential service provider, thereby masking the true earning power inherent in its high-margin customization and licensing revenue streams.

By focusing on P/S, analysts may overlook the structural shift toward higher-margin commercial and licensing segments that do not carry the same overhead as physical retail. A more appropriate focus would be on EV/EBITDA or FCF yield, which better capture the cash-generative potential of the experiential model once the initial store-level investment is amortized.

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Includes 30+ ratios · 25 years · Updated daily

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BBW — Frequently Asked Questions

Quick answers to the most common questions about buying BBW stock.

What is Build-A-Bear Workshop, Inc.'s P/E ratio?

Build-A-Bear Workshop, Inc.'s current P/E ratio is 7.9x. The historical average is 25.5x. This places it at the 29th percentile of its historical range.

What is Build-A-Bear Workshop, Inc.'s EV/EBITDA?

Build-A-Bear Workshop, Inc.'s current EV/EBITDA is 6.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.4x.

What is Build-A-Bear Workshop, Inc.'s ROE?

Build-A-Bear Workshop, Inc.'s return on equity (ROE) is 35.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 13.6%.

Is BBW stock overvalued?

Based on historical data, Build-A-Bear Workshop, Inc. is trading at a P/E of 7.9x. This is at the 29th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.

What is Build-A-Bear Workshop, Inc.'s dividend yield?

Build-A-Bear Workshop, Inc.'s current dividend yield is 2.81% with a payout ratio of 22.1%.

What are Build-A-Bear Workshop, Inc.'s profit margins?

Build-A-Bear Workshop, Inc. has 55.8% gross margin and 12.2% operating margin. Operating margin between 10-20% is typical for established companies.

How much debt does Build-A-Bear Workshop, Inc. have?

Build-A-Bear Workshop, Inc.'s Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.