Revenue growth remains highly volatile, oscillating between a 1.9% increase and a 6.5% contraction, while operating margins remain stagnant between 3.7% and 4.0% during standard quarters.
| Metric | TTM | Jan'26 | Feb'25 | Feb'24 | Jan'23 | Jan'22 | Jan'21 | Feb'20 | Feb'19 | Feb'18 | Jan'17 | Jan'16 | Jan'15 | Feb'14 | Feb'13 | Mar'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 | 41.86B | 41.69B | 41.53B | 43.45B | 46.3B | 51.76B | 47.26B | 43.64B | 42.88B | 42.15B | 39.4B | 39.53B | 40.34B | 40.61B | 41.73B | 45.46B | 50.27B | 49.69B | 45.02B | 40.02B | 35.93B | 30.85B | 27.43B | 24.55B | 20.95B | 17.71B | 15.19B | 12.49B | 10.08B | 8.36B | 7.77B |
| Revenue Growth % | 0.99% | 0.39% | -4.43% | -6.15% | -10.55% | 9.52% | 8.3% | 1.77% | 1.73% | 6.97% | -0.32% | -2.01% | -0.67% | -2.68% | -8.2% | -9.58% | 1.16% | 10.39% | 12.47% | 11.38% | 16.49% | 12.45% | 11.76% | 17.19% | 18.27% | 16.6% | 21.57% | 23.97% | 20.57% | 7.56% | 7.67% |
| Cost of Goods Sold | 32.44B | 32.32B | 32.14B | 33.85B | 36.39B | 40.12B | 36.69B | 33.59B | 32.92B | 32.27B | 29.96B | 30.34B | 31.29B | 31.21B | 31.89B | 34.47B | 37.21B | 37.2B | 34.02B | 30.48B | 27.16B | 23.12B | 20.94B | 18.68B | 16B | 13.94B | 12.18B | 9.99B | 8.17B | 6.95B | 6.64B |
| COGS % of Revenue | - | 77.52% | 77.4% | 77.9% | 78.59% | 77.51% | 77.63% | 76.97% | 76.77% | 76.57% | 76.04% | 76.75% | 77.57% | 76.86% | 76.41% | 75.84% | 74.01% | 74.86% | 75.57% | 76.15% | 75.6% | 74.95% | 76.32% | 76.09% | 76.38% | 78.71% | 80.17% | 79.97% | 81.09% | 83.21% | 85.51% |
| Gross Profit | 9.42B | 9.37B | 9.38B | 9.6B | 9.91B | 11.64B | 10.57B | 10.05B | 9.96B | 9.88B | 9.44B | 9.19B | 9.05B | 9.4B | 9.84B | 10.98B | 12.54B | 12.04B | 11B | 9.55B | 8.77B | 7.73B | 6.5B | 5.87B | 4.95B | 3.77B | 3.01B | 2.5B | 1.89B | 1.38B | 1.13B |
| Gross Margin % | 22.5% | 22.48% | 22.6% | 22.1% | 21.41% | 22.49% | 22.37% | 23.03% | 23.23% | 23.43% | 23.96% | 23.25% | 22.43% | 23.14% | 23.59% | 24.16% | 24.95% | 24.23% | 24.43% | 23.85% | 24.4% | 25.05% | 23.68% | 23.92% | 23.61% | 21.29% | 19.83% | 20.03% | 18.78% | 16.55% | 14.49% |
| Gross Profit Growth % | - | -0.13% | -2.27% | -3.12% | -14.85% | 10.09% | 5.22% | 0.87% | 0.86% | 4.62% | 2.71% | 1.59% | -3.75% | -4.52% | -10.38% | -12.42% | 4.14% | 9.49% | 15.21% | 8.86% | 13.5% | 18.95% | 10.63% | 18.73% | 31.17% | 25.17% | 20.34% | 32.23% | 36.84% | 22.83% | 13.6% |
| Operating Expenses | 8B | 7.98B | 7.64B | 8.03B | 8.12B | 8.6B | 8.18B | 8.04B | 8.06B | 8.03B | 7.59B | 7.82B | 7.6B | 8.26B | 9.75B | 8.78B | 10.17B | 9.67B | 9.13B | 7.38B | 6.77B | 6.08B | 5.05B | 4.57B | 3.94B | 2.86B | 2.4B | 1.96B | 1.54B | 1.22B | 1.07B |
| OpEx % of Revenue | - | 19.15% | 18.4% | 18.48% | 17.53% | 16.62% | 17.31% | 18.42% | 18.8% | 19.06% | 19.25% | 19.77% | 18.83% | 20.33% | 23.36% | 19.32% | 20.22% | 19.47% | 20.28% | 18.45% | 18.84% | 19.72% | 18.42% | 18.61% | 18.79% | 16.16% | 15.81% | 15.72% | 15.3% | 14.56% | 13.81% |
| Selling, General & Admin | 7.62B | 7.62B | 7.65B | 7.82B | 7.88B | 8.54B | 7.93B | 8B | 8.02B | 8.02B | 7.55B | 7.62B | 7.59B | 8.11B | 9.5B | 8.76B | 10.03B | 9.62B | 8.98B | 7.38B | 6.77B | 6.08B | 5.05B | 4.57B | 3.94B | 2.86B | 2.4B | 1.85B | 1.46B | 1.15B | 1.01B |
| SG&A % of Revenue | - | 18.28% | 18.42% | 17.99% | 17.03% | 16.5% | 16.77% | 18.33% | 18.69% | 19.03% | 19.15% | 19.27% | 18.82% | 19.96% | 22.77% | 19.26% | 19.95% | 19.36% | 19.96% | 18.45% | 18.84% | 19.72% | 18.42% | 18.61% | 18.79% | 16.16% | 15.81% | 14.84% | 14.52% | 13.7% | 12.94% |
| 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 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1000K | 361M | 0 | 214M | 233M | 59M | 254M | 41M | 46M | 10M | 39M | 198M | 5M | 149M | 0 | 29M | 138M | 52M | 144M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 109.54M | 78.37M | 71.58M | 67.3M |
| Operating Income | 1.42B | 1.39B | 1.72B | 1.57B | 1.79B | 3B | 2.39B | 2.01B | 1.9B | 1.84B | 1.85B | 1.38B | 1.45B | 1.14B | 1.27B | 2.2B | 2.37B | 2.37B | 1.87B | 2.16B | 2B | 1.64B | 1.44B | 1.3B | 1.01B | 908M | 611M | 539.26M | 351.24M | 166.41M | 53.2M |
| Operating Margin % | 3.4% | 3.33% | 4.14% | 3.62% | 3.88% | 5.79% | 5.06% | 4.6% | 4.43% | 4.37% | 4.71% | 3.48% | 3.59% | 2.82% | 3.05% | 4.84% | 4.72% | 4.77% | 4.15% | 5.4% | 5.56% | 5.33% | 5.26% | 5.31% | 4.82% | 5.13% | 4.02% | 4.32% | 3.49% | 1.99% | 0.68% |
| Operating Income Growth % | - | -19.29% | 9.34% | -12.31% | -40.11% | 25.35% | 19.01% | 5.74% | 3.09% | -0.59% | 34.84% | -5.17% | 26.75% | -10.22% | -42.08% | -7.33% | 0.25% | 26.63% | -13.47% | 8.1% | 21.59% | 14.01% | 10.58% | 29.11% | 11.23% | 48.61% | 13.3% | 53.53% | 111.07% | 212.8% | -56.57% |
| EBITDA | 1.87B | 2.22B | 2.59B | 2.5B | 2.71B | 3.87B | 3.23B | 2.82B | 2.67B | 2.53B | 2.51B | 2.03B | 2.11B | 1.86B | 2.11B | 3.15B | 3.35B | 3.29B | 2.66B | 2.74B | 2.51B | 2.1B | 1.9B | 1.69B | 1.32B | 1.22B | 778.37M | 648.8M | 429.64M | 234.71M | 120M |
| EBITDA Margin % | 4.47% | 5.32% | 6.23% | 5.75% | 5.86% | 7.47% | 6.83% | 6.46% | 6.23% | 5.99% | 6.37% | 5.14% | 5.22% | 4.58% | 5.05% | 6.92% | 6.67% | 6.63% | 5.92% | 6.85% | 6.98% | 6.81% | 6.93% | 6.88% | 6.3% | 6.87% | 5.12% | 5.19% | 4.26% | 2.81% | 1.54% |
| EBITDA Growth % | -12.17% | -14.19% | 3.6% | -7.96% | -29.82% | 19.69% | 14.5% | 5.66% | 5.7% | 0.72% | 23.43% | -3.51% | 13.23% | -11.69% | -33.03% | -6.18% | 1.76% | 23.7% | -2.85% | 9.29% | 19.43% | 10.47% | 12.55% | 27.95% | 8.46% | 56.35% | 19.97% | 51.01% | 83.05% | 95.59% | -32.36% |
| D&A (Non-Cash Add-back) | 616M | 831M | 866M | 923M | 918M | 869M | 839M | 812M | 770M | 683M | 654M | 657M | 656M | 716M | 832M | 945M | 978M | 926M | 793M | 580M | 509M | 456M | 459M | 385M | 310M | 309M | 167.37M | 109.54M | 78.4M | 68.3M | 66.8M |
| EBIT | 1.58B | 1.45B | 1.35B | 1.67B | 1.82B | 3.05B | 2.43B | 2.06B | 1.96B | 1.89B | 1.89B | 1.39B | 1.48B | 1.18B | -74M | 2.28B | 2.42B | 2.42B | 1.79B | 2.16B | 2B | 1.64B | 1.44B | 1.3B | 1.01B | 908M | 611M | 539.26M | 351.24M | 166.41M | 53.2M |
| Net Interest Income | -19M | -47M | -51M | -52M | -35M | -25M | -52M | -64M | -73M | -75M | -72M | -80M | -90M | -100M | -79M | -97M | -36M | -40M | -59M | 67M | 111M | 77M | 1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 33M | 37M | 51M | 54M | 35M | 129M | 142M | 107M | 45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 72M | 47M | 51M | 52M | 35M | 25M | 52M | 64M | 73M | 75M | 72M | 80M | 90M | 100M | 112M | 134M | 87M | 94M | 94M | 62M | 31M | 30M | 44M | 8M | 0 | 0 | 37M | 23M | 0 | 33M | 0 |
| Other Income/Expense | 139M | 15M | -422M | 47M | -7M | 31M | -14M | -16M | -12M | -26M | -38M | -65M | -63M | -61M | -1.27B | -1.16B | -43M | -93M | -314M | 67M | 131M | 77M | 1M | -8M | 4M | -1M | 37.17M | 23.31M | 400K | -33.01M | -50.4M |
| Pretax Income | 1.56B | 1.4B | 1.3B | 1.62B | 1.79B | 3.03B | 2.38B | 1.99B | 1.89B | 1.82B | 1.82B | 1.31B | 1.39B | 1.09B | 4.36M | 1.04B | 2.08B | 2.19B | 1.7B | 2.23B | 2.13B | 1.72B | 1.44B | 1.3B | 1.01B | 936M | 641.48M | 562.57M | 364.9M | 153.9M | 2.8M |
| Pretax Margin % | 3.73% | 3.37% | 3.13% | 3.73% | 3.86% | 5.85% | 5.03% | 4.57% | 4.4% | 4.31% | 4.61% | 3.31% | 3.44% | 2.68% | 0.01% | 2.29% | 4.13% | 4.42% | 3.78% | 5.57% | 5.93% | 5.58% | 5.26% | 5.28% | 4.84% | 5.28% | 4.22% | 4.5% | 3.62% | 1.84% | 0.04% |
| Income Tax | 417M | 335M | 372M | 381M | 370M | 574M | 579M | 452M | 424M | 818M | 609M | 503M | 141M | 398M | 286.91M | 709M | 714M | 802M | 674M | 815M | 752M | 581M | 509M | 496M | 392M | 366M | 245.64M | 215.5M | 140.5M | 59.4M | 1.1M |
| Effective Tax Rate % | 26.73% | 23.86% | 28.64% | 23.5% | 20.69% | 18.96% | 24.36% | 22.68% | 22.46% | 45.02% | 33.54% | 38.4% | 10.17% | 36.61% | 6575% | 67.98% | 34.36% | 36.54% | 39.65% | 36.58% | 35.31% | 33.76% | 35.27% | 38.27% | 38.66% | 39.1% | 38.29% | 38.31% | 38.5% | 38.6% | 39.29% |
| Net Income | 1.14B | 1.07B | 927M | 1.24B | 1.42B | 2.45B | 1.8B | 1.54B | 1.46B | 1B | 1.23B | 897M | 1.23B | 532M | -282.55M | -1.23B | 1.28B | 1.32B | 1B | 1.41B | 1.38B | 1.14B | 984M | 705M | 99M | 570M | 395.84M | 347.07M | 224.4M | 94.5M | 1.7M |
| Net Margin % | 2.73% | 2.56% | 2.23% | 2.86% | 3.06% | 4.74% | 3.8% | 3.53% | 3.41% | 2.37% | 3.12% | 2.27% | 3.06% | 1.31% | -0.68% | -2.71% | 2.54% | 2.65% | 2.23% | 3.52% | 3.83% | 3.7% | 3.59% | 2.87% | 0.47% | 3.22% | 2.61% | 2.78% | 2.23% | 1.13% | 0.02% |
| Net Income Growth % | 29.45% | 15.32% | -25.3% | -12.54% | -42.18% | 36.48% | 16.68% | 5.26% | 46.4% | -18.57% | 36.9% | -27.25% | 131.77% | 288.29% | 77.05% | -196.4% | -3.04% | 31.31% | -28.71% | 2.18% | 20.79% | 15.85% | 39.57% | 612.12% | -82.63% | 44% | 14.05% | 54.67% | 137.46% | 5458.82% | -96.46% |
| Net Income (Continuing) | 1.14B | 1.07B | 927M | 1.24B | 1.42B | 2.45B | 1.8B | 1.54B | 1.46B | 999M | 1.21B | 807M | 1.25B | 695M | -417M | 1.42B | 1.55B | 1.5B | 1.03B | 1.41B | 1.38B | 1.14B | 934M | 800M | 622M | 570M | 401M | 347.07M | 216.28M | 81.94M | 1.7M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1M | 21M | 90M | 0 | 0 | 2M | -1.4B | 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 | 5M | 3M | 654M | 621M | 690M | 644M | 513M | 40M | 35M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 229.9M | 230M |
| EPS (Diluted) | 5.41 | 5.04 | 4.28 | 5.68 | 6.29 | 9.84 | 6.84 | 5.75 | 5.20 | 3.26 | 3.81 | 2.56 | 3.49 | 1.53 | -0.83 | -3.36 | 3.08 | 3.10 | 2.39 | 3.12 | 2.79 | 2.27 | 1.96 | 1.41 | 0.21 | 1.18 | 0.83 | 0.73 | 0.46 | 0.23 | 0.00 |
| EPS Growth % | 32.27% | 17.76% | -24.65% | -9.7% | -36.08% | 43.86% | 18.96% | 10.58% | 59.51% | -14.44% | 48.83% | -26.65% | 128.1% | 284.34% | 75.3% | -209.09% | -0.65% | 29.71% | -23.4% | 11.83% | 22.91% | 15.82% | 39.01% | 571.43% | -82.2% | 42.17% | 13.7% | 58.7% | 100% | - | -96.33% |
| EPS (Basic) | - | 5.06 | 4.31 | 5.70 | 6.31 | 9.94 | 6.93 | 5.82 | 5.30 | 3.33 | 3.86 | 2.59 | 3.53 | 1.56 | -0.83 | -3.36 | 3.14 | 3.16 | 2.43 | 3.20 | 2.86 | 2.33 | 2.01 | 1.45 | 0.21 | 1.19 | 0.85 | 0.76 | 0.48 | 0.24 | 0.00 |
| Diluted Shares Outstanding | 211.3M | 212.1M | 216.6M | 218.5M | 225.7M | 249.3M | 263M | 268.1M | 281.4M | 307.1M | 322.6M | 350.7M | 353.6M | 347.6M | 338.6M | 366.3M | 416.5M | 427.5M | 422.9M | 452.9M | 496.2M | 504.8M | 502.04M | 500.8M | 495.8M | 483.05M | 479.03M | 477.83M | 472.04M | 450.56M | 382.11M |
| Basic Shares Outstanding | 210.4M | 211M | 215.2M | 217.7M | 224.8M | 246.8M | 259.6M | 264.9M | 276.4M | 300.4M | 318.5M | 346.5M | 349.5M | 342.1M | 338.6M | 366.3M | 406.1M | 416.8M | 412.5M | 439.9M | 482.1M | 490.3M | 488.9M | 485M | 481.41M | 472.25M | 463.66M | 458.98M | 447.72M | 394.69M | 382.11M |
| Dividend Payout Ratio | - | 74.93% | 87.06% | 64.54% | 55.6% | 28.04% | 31.59% | 34.2% | 33.95% | 40.9% | 41.12% | 55.63% | 20.36% | 43.8% | - | - | 18.56% | 17.77% | 22.23% | 14.5% | 12.64% | 13.25% | 13.92% | 18.44% | - | - | - | - | - | - | - |
Discretionary spending sensitivity
As reported in recent financial filings, Best Buy's revenue growth has exhibited significant volatility, oscillating between a 1.9% increase in 2027Q1 and a 6.5% contraction in 2025Q1, reflecting the company's ongoing struggle to maintain consistent top-line momentum amidst a challenging macroeconomic environment for consumer electronics.
The revenue trajectory appears heavily influenced by seasonal holiday cycles and the absence of a sustained hardware replacement catalyst. Investors should monitor whether the recent shift toward AI-enabled computing can provide a durable tailwind to offset the persistent weakness in discretionary spending categories.
Based on the provided income statement data, Best Buy's gross margin consistently hovers near the 23% level during non-holiday quarters, suggesting that the company's pricing power remains structurally constrained by intense competition and the low-margin nature of its primary consumer electronics hardware inventory.
The recurring compression of gross margins during the fourth quarter, dropping to approximately 20.5% to 20.9%, indicates a heavy reliance on promotional activity to drive holiday volume. This pattern suggests that the company may struggle to achieve meaningful margin expansion without a more significant contribution from higher-margin service offerings.
According to the company's quarterly income statements, operating income has failed to scale consistently with gross profit, as evidenced by operating margins that have remained largely stagnant between 3.7% and 4.0% during standard quarters, highlighting a lack of meaningful operating leverage within the current cost structure.
The inability to significantly improve operating margins despite various efficiency initiatives suggests that the company's fixed-cost base, particularly regarding its physical retail footprint and labor requirements, remains a persistent drag on profitability. Investors should investigate whether further SG&A rationalization is possible without compromising the service-based competitive moat.
As indicated by the financial data, Best Buy's net income volatility, ranging from $117 million to $541 million over the last ten quarters, warrants caution regarding the sustainability of its earnings profile, particularly as the company navigates a transition toward service-based revenue streams amidst stagnant hardware demand.
Short-term earnings fluctuations appear heavily dependent on non-operating items and seasonal shifts, which may mask underlying operational challenges. The reliance on share repurchases to support EPS growth may be masking a lack of organic earnings power, necessitating a closer look at the quality of future cash flows.
Quick answers to the most common questions about buying BBY stock.
For fiscal year 2026, Best Buy Co., Inc. (BBY) reported total revenue of $41.69B. This represents a 436.5% increase compared to $7.77B in 1997.
Best Buy Co., Inc. (BBY) is profitable, generating $1.07B in net income for the fiscal year ending 2026 with a net profit margin of 2.6%.
Best Buy Co., Inc. (BBY) reported an operating income of $1.39B, resulting in an operating profit margin of 3.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Best Buy Co., Inc. (BBY) generated $9.37B in gross profit for the year, representing a gross profit margin of 22.5%. This demonstrates the company's core pricing power and production efficiency.