The company demonstrates significant pricing power with a 63.8% gross margin in 2026Q1, though revenue growth remains inconsistent, evidenced by a 2.4% contraction in the same period.
| Metric | TTM | Jan'26 | Feb'25 | Feb'24 | Jan'23 | Jan'22 | Jan'21 | Feb'20 | Feb'19 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'00 |
|---|
| Sales/Revenue | 526.71M | 529.83M | 496.4M | 486.11M | 467.94M | 411.52M | 255.31M | 338.54M | 336.58M | 357.87M | 364.2M | 377.69M | 392.35M | 379.07M | 380.94M | 394.38M | 401.45M | 394.38M | 467.86M | 474.36M | 437.07M | 361.81M | 301.66M | 213.67M | 169.14M | 55.41M |
| Revenue Growth % | 3.26% | 6.73% | 2.12% | 3.88% | 13.71% | 61.19% | -24.59% | 0.58% | -5.95% | -1.74% | -3.57% | -3.74% | 3.5% | -0.49% | -3.41% | -1.76% | 1.79% | -15.71% | -1.37% | 8.53% | 20.8% | 19.94% | 41.18% | 26.33% | 205.26% | - |
| Cost of Goods Sold | 224.19M | 234.2M | 223.89M | 221.72M | 222.06M | 193.57M | 158.02M | 184.92M | 197.83M | 188.89M | 198.17M | 198.48M | 211.83M | 220.74M | 230.18M | 234.23M | 239.56M | 245.98M | 270.46M | 259.08M | 227.51M | 180.37M | 151.59M | 116.51M | 90.85M | 29.04M |
| COGS % of Revenue | - | 44.2% | 45.1% | 45.61% | 47.46% | 47.04% | 61.9% | 54.62% | 58.78% | 52.78% | 54.41% | 52.55% | 53.99% | 58.23% | 60.42% | 59.39% | 59.67% | 62.37% | 57.81% | 54.62% | 52.05% | 49.85% | 50.25% | 54.53% | 53.71% | 52.42% |
| Gross Profit | 302.51M | 295.63M | 272.52M | 264.39M | 245.87M | 217.96M | 97.29M | 153.62M | 138.75M | 168.97M | 166.04M | 179.22M | 180.52M | 158.33M | 150.76M | 160.15M | 161.9M | 148.4M | 197.4M | 215.28M | 209.56M | 181.44M | 150.07M | 97.16M | 78.29M | 26.36M |
| Gross Margin % | 57.44% | 55.8% | 54.9% | 54.39% | 52.54% | 52.96% | 38.1% | 45.38% | 41.22% | 47.22% | 45.59% | 47.45% | 46.01% | 41.77% | 39.58% | 40.61% | 40.33% | 37.63% | 42.19% | 45.38% | 47.95% | 50.15% | 49.75% | 45.47% | 46.29% | 47.58% |
| Gross Profit Growth % | - | 8.48% | 3.07% | 7.53% | 12.81% | 124.04% | -36.67% | 10.72% | -17.88% | 1.77% | -7.35% | -0.72% | 14.02% | 5.02% | -5.86% | -1.08% | 9.1% | -24.82% | -8.31% | 2.73% | 15.5% | 20.9% | 54.47% | 24.1% | 196.95% | - |
| Operating Expenses | 231.77M | 231M | 206.24M | 198.99M | 183.93M | 167.25M | 119.09M | 152.05M | 157.18M | 155.15M | 160.72M | 161.46M | 164.44M | 160.71M | 165.52M | 162.88M | 164.62M | 162.76M | 190.97M | 181.79M | 162.67M | 138.73M | 117.49M | 84.14M | 68.72M | 23.71M |
| OpEx % of Revenue | - | 43.6% | 41.55% | 40.94% | 39.31% | 40.64% | 46.64% | 44.91% | 46.7% | 43.35% | 44.13% | 42.75% | 41.91% | 42.4% | 43.45% | 41.3% | 41.01% | 41.27% | 40.82% | 38.32% | 37.22% | 38.34% | 38.95% | 39.38% | 40.63% | 42.8% |
| Selling, General & Admin | 231.77M | 231M | 206.24M | 198.99M | 183.93M | 167.25M | 119.09M | 152.05M | 157.18M | 155.15M | 160.32M | 161.46M | 164.04M | 160.71M | 165.52M | 162.88M | 164.62M | 162.76M | 190.97M | 181.79M | 162.67M | 138.73M | 117.49M | 84.14M | 68.72M | 23.71M |
| SG&A % of Revenue | - | 43.6% | 41.55% | 40.94% | 39.31% | 40.64% | 46.64% | 44.91% | 46.7% | 43.35% | 44.02% | 42.75% | 41.81% | 42.4% | 43.45% | 41.3% | 41.01% | 41.27% | 40.82% | 38.32% | 37.22% | 38.34% | 38.95% | 39.38% | 40.63% | 42.8% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 70.74M | 64.63M | 66.28M | 65.4M | 49.46M | 38.43M | -35.09M | -12.13M | -18.42M | 13.82M | 5.31M | 17.75M | 16.08M | -2.38M | -48.43M | -2.73M | -2.72M | -23.98M | 6.43M | 33.49M | 46.89M | 42.7M | 32.58M | 13.02M | 9.57M | 2.65M |
| Operating Margin % | 13.43% | 12.2% | 13.35% | 13.45% | 10.57% | 9.34% | -13.75% | -3.58% | -5.47% | 3.86% | 1.46% | 4.7% | 4.1% | -0.63% | -12.71% | -0.69% | -0.68% | -6.08% | 1.37% | 7.06% | 10.73% | 11.8% | 10.8% | 6.09% | 5.66% | 4.79% |
| Operating Income Growth % | - | -2.5% | 1.35% | 32.23% | 28.71% | 209.5% | -189.35% | 34.16% | -233.26% | 160.14% | -70.07% | 10.44% | 776.36% | 95.09% | -1672.01% | -0.4% | 88.65% | -473.1% | -80.81% | -28.58% | 9.81% | 31.07% | 150.21% | 36.05% | 260.89% | - |
| EBITDA | 86M | 79.58M | 81.05M | 79.06M | 61.94M | 50.7M | -21.8M | 1.58M | -2.38M | 29.99M | 21.48M | 34.17M | 34.2M | 16.84M | -27.01M | 21.5M | 24.25M | 4.5M | 35.31M | 59.78M | 69.29M | 60.3M | 47.53M | 24.09M | 17.35M | 5.18M |
| EBITDA Margin % | 16.33% | 15.02% | 16.33% | 16.26% | 13.24% | 12.32% | -8.54% | 0.47% | -0.71% | 8.38% | 5.9% | 9.05% | 8.72% | 4.44% | -7.09% | 5.45% | 6.04% | 1.14% | 7.55% | 12.6% | 15.85% | 16.66% | 15.76% | 11.27% | 10.26% | 9.35% |
| EBITDA Growth % | 0.08% | -1.82% | 2.52% | 27.63% | 22.16% | 332.56% | -1483.44% | 166.22% | -107.94% | 39.58% | -37.13% | -0.09% | 103.13% | 162.35% | -225.62% | -11.36% | 438.5% | -87.24% | -40.94% | -13.72% | 14.91% | 26.86% | 97.32% | 38.85% | 235% | - |
| D&A (Non-Cash Add-back) | 15.25M | 14.95M | 14.77M | 13.66M | 12.48M | 12.28M | 13.29M | 13.71M | 16.04M | 16.16M | 16.17M | 16.42M | 18.13M | 19.22M | 21.42M | 24.23M | 26.98M | 28.49M | 28.88M | 26.29M | 22.39M | 17.59M | 14.95M | 11.07M | 7.78M | 2.53M |
| EBIT | 70.74M | 64.63M | 66.28M | 65.4M | 62.54M | 50.7M | -20.18M | 1.68M | -18.42M | 13.82M | 5.31M | 17.75M | 17.18M | -2.38M | -48.43M | -2.73M | -2.72M | -23.98M | 6.43M | 33.49M | 46.89M | 42.7M | 32.58M | 13.02M | 9.57M | 2.65M |
| Net Interest Income | 601.13K | 801K | 861K | 929K | -19K | 5K | -10K | -15K | -85K | -11K | -5K | 143K | -53K | 259K | -3K | 81K | 250K | 143K | 799K | 0 | 1.53M | 1.71M | 0 | 58.34K | 0 | 0 |
| Interest Income | 601.13K | 801K | 861K | 929K | 0 | 5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 799K | 0 | 1.53M | 1.71M | 0 | 71.46K | 0 | 0 |
| Interest Expense | 0 | 0 | -861K | 0 | 19K | 0 | 10K | 15K | 85K | 11K | 5K | 143K | 53K | 259K | 3K | 81K | 250K | 143K | 0 | 0 | 0 | 0 | 0 | 13.12K | 0 | 2.75M |
| Other Income/Expense | 735K | 2.6M | 661K | 929K | 12.46M | 905K | -10K | 13.69M | -85K | -11K | -5K | 143K | -53K | 259K | 0 | 0 | 0 | 0 | 799K | 1.53M | 1.53M | 1.71M | 353K | 58.34K | 88.08K | -2.75M |
| Pretax Income | 71.48M | 67.23M | 67.14M | 66.33M | 61.92M | 50.71M | -21.81M | 1.56M | -18.51M | 13.81M | 5.31M | 17.9M | 16.02M | -2.12M | -48.43M | -2.65M | -2.47M | -23.84M | 7.23M | 35.02M | 48.42M | 44.41M | 32.93M | 13.08M | 9.66M | -96K |
| Pretax Margin % | 13.57% | 12.69% | 13.53% | 13.64% | 13.23% | 12.32% | -8.54% | 0.46% | -5.5% | 3.86% | 1.46% | 4.74% | 4.08% | -0.56% | -12.71% | -0.67% | -0.62% | -6.04% | 1.54% | 7.38% | 11.08% | 12.28% | 10.92% | 6.12% | 5.71% | -0.17% |
| Income Tax | 16.29M | 15.02M | 15.36M | 13.52M | 13.94M | 3.44M | 2.8M | 1.3M | -574K | 5.9M | 3.93M | -9.45M | 1.66M | -6K | 866K | 14.41M | -2.58M | -11.37M | 2.66M | 12.51M | 18.93M | 17.1M | 12.93M | 5.1M | 3.79M | 2.51M |
| Effective Tax Rate % | 22.8% | 22.35% | 22.87% | 20.39% | 22.51% | 6.79% | -12.82% | 83.28% | 3.1% | 42.69% | 74.06% | -52.78% | 10.37% | 0.28% | -1.79% | -543.36% | 104.21% | 47.68% | 36.85% | 35.73% | 39.1% | 38.5% | 39.27% | 39% | 39.24% | -2613.54% |
| Net Income | 55.18M | 52.2M | 51.78M | 52.8M | 47.98M | 47.27M | -24.61M | 261K | -17.93M | 7.92M | 1.38M | 27.34M | 14.36M | -2.11M | -49.3M | -17.06M | 104K | -12.47M | 4.56M | 22.51M | 29.49M | 27.31M | 20M | 7.98M | 5.87M | 143K |
| Net Margin % | 10.48% | 9.85% | 10.43% | 10.86% | 10.25% | 11.49% | -9.64% | 0.08% | -5.33% | 2.21% | 0.38% | 7.24% | 3.66% | -0.56% | -12.94% | -4.33% | 0.03% | -3.16% | 0.98% | 4.75% | 6.75% | 7.55% | 6.63% | 3.73% | 3.47% | 0.26% |
| Net Income Growth % | -0.83% | 0.81% | -1.93% | 10.04% | 1.52% | 292.06% | -9529.12% | 101.46% | -326.54% | 474.87% | -94.96% | 90.4% | 780.02% | 95.72% | -188.92% | -16505.77% | 100.83% | -373.29% | -79.72% | -23.67% | 7.97% | 36.58% | 150.66% | 35.95% | 4003.87% | - |
| Net Income (Continuing) | 55.18M | 52.2M | 51.78M | 52.8M | 47.98M | 47.27M | -22.98M | 261K | -17.93M | 7.92M | 1.38M | 27.34M | 14.36M | -2.11M | -49.3M | -17.06M | 104K | -12.47M | 4.56M | 22.51M | 29.49M | 27.31M | 20M | 7.98M | 5.87M | 143K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.9K | 0 |
| EPS (Diluted) | 4.37 | 3.99 | 3.80 | 3.65 | 3.15 | 2.93 | -1.65 | 0.02 | -1.23 | 0.50 | 0.09 | 1.59 | 0.81 | -0.13 | -3.02 | -0.98 | 0.01 | -0.66 | 0.24 | 1.10 | 1.44 | 1.35 | 1.07 | 0.45 | 0.49 | -2.49 |
| EPS Growth % | 2.64% | 5% | 4.11% | 15.87% | 7.51% | 277.58% | -9422.03% | 101.44% | -346% | 455.56% | -94.34% | 96.3% | 723.08% | 95.7% | -208.16% | -9900% | 101.52% | -375% | -78.18% | -23.61% | 6.67% | 26.17% | 137.78% | -8.16% | 119.68% | - |
| EPS (Basic) | - | 4.00 | 3.81 | 3.68 | 3.21 | 3.06 | -1.65 | 0.02 | -1.23 | 0.50 | 0.09 | 1.61 | 0.82 | -0.13 | -3.02 | -0.98 | 0.01 | -0.66 | 0.24 | 1.11 | 1.46 | 1.38 | 1.32 | 0.57 | 0.30 | 0.01 |
| Diluted Shares Outstanding | 12.64M | 13.08M | 13.62M | 14.47M | 15.25M | 16.12M | 14.92M | 14.76M | 14.59M | 15.76M | 15.62M | 16.87M | 17.13M | 16.47M | 16.33M | 17.37M | 19.06M | 18.87M | 19.22M | 20.45M | 20.47M | 20.23M | 18.62M | 17.55M | 12.06M | 217.67K |
| Basic Shares Outstanding | 12.58M | 13.05M | 13.58M | 14.34M | 14.94M | 15.46M | 14.92M | 14.71M | 14.58M | 15.57M | 15.44M | 16.64M | 16.91M | 16.25M | 16.33M | 17.37M | 18.6M | 18.87M | 19.15M | 20.26M | 20.17M | 19.74M | 15.16M | 17.55M | 19.75M | 21.77M |
| Dividend Payout Ratio | - | 22.09% | 21.29% | 0.09% | 0.61% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 50% | - | - | - |
Mall traffic dependency
According to recent income statement data, BBW's revenue growth has fluctuated significantly, moving from a 11.9% increase in 2025Q1 to a 2.4% contraction by 2026Q1, suggesting that the company's reliance on seasonal peaks and specific licensed product cycles creates an inconsistent top-line trajectory.
The revenue volatility highlights the company's sensitivity to the timing of major entertainment franchise releases and the inherent seasonality of its experiential retail model. Investors should monitor whether the recent shift toward non-traditional retail formats can successfully decouple performance from broader mall traffic trends.
As reported in financial statements, the company maintained a robust gross margin of 63.8% in 2026Q1, which represents a notable expansion from the 55.2% observed in 2025Q4, indicating that the experiential value proposition allows for significant pricing power despite potential inflationary pressures on raw material costs.
This margin expansion suggests that the 'heart ceremony' and customization elements effectively insulate the product from being viewed as a commodity. However, the sustainability of these margins warrants further investigation, as they may be influenced by product mix shifts toward higher-margin licensed accessories.
Based on reported figures, operating margins have swung from 8.6% in 2025Q3 to 19.0% in 2026Q1, demonstrating that the company's high fixed-cost structure in physical retail locations creates significant operating leverage that amplifies bottom-line results during periods of higher sales volume.
The ability to scale operating income faster than gross profit during peak quarters suggests that management has maintained disciplined control over store-level labor and occupancy costs. Conversely, the sharp contraction in operating margins during off-peak periods underscores the inherent risk of maintaining a large physical footprint.
Analysis of the income statement reveals that SG&A expenses have remained relatively contained, even as the company navigates the complexities of managing both physical workshops and e-commerce fulfillment, with 2026Q1 SG&A totaling $56.1 million against $125.3 million in total revenue.
The management of SG&A appears to be a critical lever for maintaining profitability, particularly as the company pivots toward non-traditional retail formats. Investors should monitor whether future investments in digital infrastructure will lead to a permanent increase in the operating expense base or if efficiencies can be realized.
Quick answers to the most common questions about buying BBW stock.
For fiscal year 2025, Build-A-Bear Workshop, Inc. (BBW) reported total revenue of $529.8M. This represents a 856.2% increase compared to $55.4M in 2000.
Build-A-Bear Workshop, Inc. (BBW) is profitable, generating $52.2M in net income for the fiscal year ending 2025 with a net profit margin of 9.9%.
Build-A-Bear Workshop, Inc. (BBW) reported an operating income of $64.6M, resulting in an operating profit margin of 12.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Build-A-Bear Workshop, Inc. (BBW) generated $295.6M in gross profit for the year, representing a gross profit margin of 55.8%. This demonstrates the company's core pricing power and production efficiency.