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Bath & Body Works, Inc (B1BW34) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Bath & Body Works, Inc BRL 44.83, price BRL 22.16, upside +102.3%, quality 74 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Consumer Cyclical · BR · ISIN US0708301041

BB Broad data Sep 24, 2026

Bath & Body Works, Inc

B1BW34 · SA

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value R$44.83 · Strongly undervalued (+102.3%)
✓Quality 74/100
!Weak Growth (revenue 5y −9.3 %/yr)
✓Solidly profitable · 10.0% net margin (TTM)
✓Negative equity (buybacks among others) · generates free cash flow
✓3.6% dividend yield · Well covered
!Moderate moat 54/100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

R$107.60 R$19.96 Fair Value R$44.83 Jun 2021 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range R$19.96 – R$107.60 · fair‑value band R$31.67 – R$59.38 · the R$22.16 price screens below the R$44.83 fair value. Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

Bath & Body Works, Inc. operates as a specialty retailer of personal care and home fragrance products. The company offers body and home fragrances, including 3-wick candles, home fragrance diffusers, fine fragrance mists, eau de parfum, body wash, hand soaps, body lotions, and body creams, as well as sanitizer and other products.

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Bath & Body Works, Inc. operates as a specialty retailer of personal care and home fragrance products. The company offers body and home fragrances, including 3-wick candles, home fragrance diffusers, fine fragrance mists, eau de parfum, body wash, hand soaps, body lotions, and body creams, as well as sanitizer and other products. It sells its products under the Bath & Body Works and other brand names through retail stores and e-commerce sites in the United States and Canada, as well as through international stores operated by partners under the franchise, license, and wholesale arrangements. The company was formerly known as L Brands, Inc. and changed its name to Bath & Body Works, Inc. in August 2021. Bath & Body Works, Inc. was founded in 1963 and is headquartered in Columbus, Ohio.

Stock analysis

Bath & Body Works, Inc (B1BW34) currently trades at R$22.16, while our model-based Fair Value estimate is R$44.83, implying the stock looks roughly 50.6% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of R$90.04 per share, and 19 of the 21 models we run sit above the R$22.16 price.

Bear case: the Dividend Discount group reads lowest at R$10.35, and 2 of the 21 models stay below the price. Evidence for this calculation is high.

Scenario range: R$31.67 (bear) to R$59.38 (bull), the price of R$22.16 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 74/100 (solid quality), in the Consumer Cyclical sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

Bath & Body Works, Inc reported revenue of $7.3B in FY2026 versus $7.9B in FY2022, a compound −1.9%/yr. Reported net income was $649M in FY2026, compounding −16.5%/yr from FY2022.

Key figures

Market cap R$23.3B (≈ $4.5B) · P/E ratio 4.9 · P/S ratio 0.43 · EPS (TTM) R$4.56 · Dividend yield 3.6% · Net margin 8.9% · Return on assets (EBIT) 26.2% · Operating margin 11.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).

What moves the price

The share trades about 34% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 5% fair-value upside, at 102%, B1BW34 screens cheaper than that median.

Fair Value models

Bear R$31.67 Fair Value R$44.83 Bull R$59.38
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 8 months old). Earnings retained since then (R$2.52 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF R$46.10 R$69.26 R$110.84 79
Growth DCF R$48.78 R$71.10 R$108.06 78
Owner Earnings R$34.16 R$52.96 R$86.70 75
All 21 models by family
DCF Models
FCF DCF R$46.10 R$69.26 R$110.84 79
Owner Earnings R$34.16 R$52.96 R$86.70 75
5Y Revenue Exit R$29.91 R$47.62 R$73.27 72
5Y EBITDA Exit R$49.43 R$81.40 R$123.75 74
5Y P/E Exit R$43.72 R$71.53 R$104.80 70
10Y Revenue Exit R$35.02 R$48.58 R$62.73 68
10Y EBITDA Exit R$47.60 R$68.99 R$91.69 69
10Y P/E Exit R$44.22 R$63.03 R$80.82 65
Earnings-Based
Graham-Dodd R$28.59 R$34.94 R$39.31 67
EPV R$28.59 R$35.82 R$42.06 74
Dividend Discount
Gordon GGM R$9.50 R$10.35 R$11.64 69
DDM Multi-Stage R$9.50 R$11.74 R$14.80 67
Multiples
P/E Multiple R$69.36 R$92.48 R$115.60 63
P/S Multiple R$42.50 R$56.67 R$70.84 58
EV/EBIT R$81.24 R$114.06 R$146.88 65
EV/EBITDA R$63.22 R$90.04 R$116.86 67
EV/Revenue R$22.45 R$39.45 R$56.45 52
Growth DCF
Growth DCF R$48.78 R$71.10 R$108.06 78
Rev-Margin DCF R$29.91 R$49.15 R$73.15 72
Economic Profit
ROIC Compounder R$28.59 R$36.88 R$44.59 72
Growth Earnings
Growth-Adj P/E R$48.89 R$69.85 R$90.80 67

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Quality Score breakdown

Overall quality 74/100

Of which business quality 72 · Market factors (momentum, volatility) 14

Profitability 80
Margins and returns on capital today
Quality Growth 32
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 62
Balance sheet, leverage, solvency risk
Investment 97
Disciplined investing over empire-building
Low Volatility 17
Calm price path (market factor)
Momentum 15
Price trend over the last 3–12 months (market factor)
52W Momentum 8
Distance to the 52-week high (market factor)
Net Issuance 100
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 40/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−0.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.3%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−8.2%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−1.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.9%
Dividend (yield on the price)3.6%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 15%
⚠ Revenue per share shrinking 6.2%/yr over ~5Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

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Recent news

News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Positive
Recent news coverage is more positive than average.

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Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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Cite: Fair Value Calculator (2026). "Bath & Body Works, Inc Fair Value". https://www.fairvalue-calculator.com/stock/B1BW34

Frequently asked questions

Is Bath & Body Works, Inc (B1BW34) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of R$44.83 versus a price of R$22.16, about +102% upside (undervalued).
What is the fair value of B1BW34?
Our model-based fair value for Bath & Body Works, Inc is R$44.83 (as of Sep 24, 2026), built from audited fundamentals. The current price: R$22.16.
What is the quality score of B1BW34?
Bath & Body Works, Inc has a Quality Score of 74/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Bath & Body Works, Inc (B1BW34)?
Our model-based price target is the fair value of R$44.83 (as of Sep 24, 2026) from 21 valuation models. Cautious scenario R$31.67, optimistic scenario R$59.38. It is a calculation from audited fundamentals, not an analyst target.
What is the Bath & Body Works, Inc stock forecast for 2026?
Our models put fair value at R$44.83, about +102% upside versus a price of R$22.16 (undervalued). Cautious scenario R$31.67, optimistic scenario R$59.38. The calculation is refreshed regularly with new filings.
What is the revenue of Bath & Body Works, Inc (B1BW34)?
Bath & Body Works, Inc reported trailing-twelve-month revenue of about $7.2B (latest available figure, as of Sep 24, 2026).
Does Bath & Body Works, Inc pay a dividend?
Bath & Body Works, Inc currently shows a dividend yield of about 3.61% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Bath & Body Works, Inc (B1BW34)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Bath & Body Works, Inc it is R$44.83 per share (as of Sep 24, 2026), against a price of R$22.16. It is the blended result of 21 valuation models (cash flow, earnings, asset, dividend).
Is Bath & Body Works, Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, B1BW34 trades below its calculated fair value: price R$22.16, fair value R$44.83, a gap of about +102% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of B1BW34?
No. The price is what the market pays today (R$22.16); the fair value is what the company's own numbers justify (R$44.83). For Bath & Body Works, Inc the two are R$22.67 per share apart. That gap is exactly why we show both numbers side by side.
How much is Bath & Body Works, Inc worth?
The market values Bath & Body Works, Inc at about R$23.3B (market capitalisation, as of Sep 24, 2026). Per share that is R$22.16; our models calculate a fair value of R$44.83 per share.
What do the bullish and bearish scenarios say about B1BW34?
Our models span a range for Bath & Body Works, Inc: cautious scenario R$31.67, base R$44.83, optimistic R$59.38 per share (as of Sep 24, 2026, price R$22.16). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is B1BW34 from its 52-week high?
Bath & Body Works, Inc trades at R$22.16, about 34% below its 52-week high of R$33.69 and 11% above the low of R$19.96 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of R$44.83 is for.
Which stocks are comparable to Bath & Body Works, Inc?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Williams-Sonoma, Inc, Ulta Beauty, Inc, Casey's General Stores, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Bath & Body Works, Inc stock attractive at the current price?
The data as of Sep 24, 2026: price R$22.16, calculated fair value R$44.83 (+102%), Quality Score 74/100, from 21 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of B1BW34 calculated?
We run Bath & Body Works, Inc through 21 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of R$44.83, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Bath & Body Works, Inc currently trades 51 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Bath & Body Works, Inc (B1BW34)?
The closing price on Oct 1, 2026 was R$22.16. Our model-based fair value is R$44.83, about +102% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Bath & Body Works, Inc right now?
The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (R$31.67). The market is more pessimistic than our downside scenario. A fairly wide model range (R$31.67 to R$59.38) leaves room in how you read the outcome.

Key figures of Bath & Body Works, Inc

How large is the market capitalisation of Bath & Body Works, Inc (B1BW34)?
The market capitalisation of Bath & Body Works, Inc is R$23.3B (≈ $4.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Bath & Body Works, Inc (B1BW34)?
The price-to-earnings ratio of Bath & Body Works, Inc is 4.9. Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Bath & Body Works, Inc (B1BW34)?
The price-to-sales ratio of Bath & Body Works, Inc is 0.43 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Bath & Body Works, Inc (B1BW34)?
Earnings per share at Bath & Body Works, Inc are R$4.56 (price ÷ EPS = P/E 4.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Bath & Body Works, Inc (B1BW34)?
The dividend yield of Bath & Body Works, Inc is 3.6% (payout 17.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Bath & Body Works, Inc (B1BW34)?
The net margin of Bath & Body Works, Inc is 8.9% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of Bath & Body Works, Inc (B1BW34)?
On an EBIT basis the return on assets of Bath & Body Works, Inc is 26.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Bath & Body Works, Inc (B1BW34)?
The operating margin of Bath & Body Works, Inc is 11.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Bath & Body Works, Inc (B1BW34)?
Revenue at Bath & Body Works, Inc is growing −3.2% versus a year earlier (3y avg −1.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Bath & Body Works, Inc (B1BW34)?
Earnings per share at Bath & Body Works, Inc are growing +83.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Bath & Body Works, Inc (B1BW34) generate?
The free cash flow of Bath & Body Works, Inc is $865M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Bath & Body Works, Inc (B1BW34) carry?
The net debt of Bath & Body Works, Inc is $2.9B (fiscal year 2026, ≈ 3.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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