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Barnes & Noble Education Inc (BNED) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of Barnes & Noble Education Inc $3.79, price $11.13, upside -66.0%, quality 37 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Consumer Cyclical · US · ISIN US06777U2006

BN Barnes & Noble Education Inc logo Some data Sep 23, 2026

Barnes & Noble Education Inc

BNED · US

Weakest SetupStrongly overvalued and low quality.

!Fair value $3.79 · Strongly overvalued (−66%)
!Quality 37/100
!Expensive Growth (revenue 5y +2.7 %/yr)
!Loss-making · -0.6% net margin (TTM)
!Low debt · negative free cash flow
!Trails peers (4/12)
!Narrow moat 17/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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

Price vs Fair Value

$1,185 $6.12 Fair Value $3.79 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $6.12 – $1,185 · fair‑value band $3.79 – $5.66 · the $11.13 price screens above the $3.79 fair value. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

Barnes & Noble Education, Inc. operates bookstores for college and university campuses, and K-12 institutions primarily in the United States. The company sells and rents new and used print textbooks, digital textbooks, and publisher hosted digital courseware through physical and virtual bookstores, as well as directly to students through Textbooks.com.

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Barnes & Noble Education, Inc. operates bookstores for college and university campuses, and K-12 institutions primarily in the United States. The company sells and rents new and used print textbooks, digital textbooks, and publisher hosted digital courseware through physical and virtual bookstores, as well as directly to students through Textbooks.com. In addition, it offers First Day and First Day Complete access programs; and general merchandise, including collegiate and athletic apparel, school spirit products, lifestyle and wellness products, technology products, supplies, graduation products, and convenience items. Further, the company sources, sells, and distributes new and used textbooks; and sells hardware and a software suite of applications that provides inventory management and point-of-sale solutions to college bookstores. Additionally, it offers direct-to-student services. It operates physical college and university bookstores; virtual bookstores; True Spirit e apparel and spirit shop e-commerce websites; pop-up retail locations; customized cafés and stand-alone convenience stores; and a media channel for brands targeting the college demographic. Barnes & Noble Education, Inc. was founded in 1965 and is headquartered in Florham Park, New Jersey.

Stock analysis

Barnes & Noble Education Inc (BNED) currently trades at $11.13, while our model-based Fair Value estimate is $3.79, implying the stock looks roughly 193.7% overvalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $5.62 per share, and 1 of the 6 models we run sit above the $11.13 price.

Bear case: the Asset-Based group reads lowest at $5.32, and 5 of the 6 models stay below the price. Evidence for this calculation is medium.

Scenario range: $3.79 (bear) to $5.66 (bull), the price of $11.13 sits above 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 37/100 (below-average quality), in the Consumer Cyclical sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Barnes & Noble Education Inc reported revenue of $1.6B in FY2026 versus $1.5B in FY2022, a compound +1.9%/yr. Reported net income was −$65.8M in FY2026.

Key figures

Market cap $363M · P/S ratio 0.21 · EPS (TTM) $−0.2900 · Net margin −4.1% · Return on equity −3.4% · Return on assets (EBIT) −2.4% · Operating margin 2.9% · Revenue (TTM) $1.7B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (medium confidence).

What moves the price

The share trades about 19% below its 52-week high and 82% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Consumer Cyclical peers we cover trades at 4% fair-value upside, at −66%, BNED screens richer than that median.

Fair Value models

Bear $3.79 Fair Value $3.79 Bull $5.66
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. 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. 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
EPV n/a $0.3500 $0.6600 68
ROIC Compounder n/a $0.3500 $0.6600 68
EV/EBITDA $11.39 $16.10 $20.82 67
All 6 models by family
Earnings-Based
EPV n/a $0.3500 $0.6600 68
Multiples
EV/EBIT $3.53 $5.62 $7.70 64
EV/EBITDA $11.39 $16.10 $20.82 67
EV/Revenue $1.48 $3.29 $5.10 51
Asset-Based
NCAV (Graham) $3.97 $5.32 $7.94 54
Economic Profit
ROIC Compounder n/a $0.3500 $0.6600 68

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Quality Score breakdown

Overall quality 37/100

Of which business quality 37 · Market factors (momentum, volatility) 47

Profitability 36
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 18
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 17
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 60
Distance to the 52-week high (market factor)
Net Issuance 50
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. 17/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+0.0%
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.
+1.4%
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.
+2.7%
Start year 2021 (pandemic). Over 10 years: −1.2% a year
Revenue growth 15 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.
−0.7%
Profit margin (trend) ⓘ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.
−2.3% (2020) → 1.0% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

BNED screens 194% overvalued. Compare with Alimentation Couche-Tard Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Retail · 229 stocks

Beats the industry median on 4/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 37 · Bottom 25%
Fair Value upside −66% · Bottom 25%
Profitability
Return on assets 2% · Below median
Net margin (TTM) −1% · Bottom 25%
Operating margin (TTM) 3% · Below median
Growth and dividend
Revenue growth 11% · Above median
Balance sheet
Debt / equity 0.38× · Above median

Valuation Multiplesvs Specialty Retail median · lower = cheaper

P/B 1.33× · Pricier than median
P/S (TTM) 0.21× · Cheapest 25%
EV/EBITDA 7.4× · Cheaper than median
PEG 1.10× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 45
FUTURE (revenue growth)57 · sector 25
PAST (return on equity)0 · sector 27
HEALTH (low debt)81 · sector 94
DIVIDEND (yield)0 · sector 64

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

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

None of the checked exposures detected

Similar stocks

10 more Specialty Retail stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Alimentation Couche-Tard Inc ATD C$79.65 C$105.59 +33%
Casey's General Stores, Inc CASY $597.31 $405.44 −32%
Williams-Sonoma, Inc WSM $227.83 $163.98 −28%
Ulta Beauty, Inc ULTA $543.81 $647.05 +19%
DICK'S Sporting Goods, Inc DKS $133.94 $177.50 +33%
Best Buy Co BBY $90.80 $94.24 +4%
China Tourism Group 601888 ¥52.27 ¥40.40 −23%
Tractor Supply Company TSCO $32.29 $36.35 +13%
Five Below, Inc FIVE $232.28 $184.19 −21%
Murphy USA Inc MUSA $508.14 $358.33 −29%

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Cite: Fair Value Calculator (2026). "Barnes & Noble Education Inc Fair Value". https://www.fairvalue-calculator.com/stock/BNED

Frequently asked questions

Is Barnes & Noble Education Inc (BNED) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $3.79 versus a price of $11.13, about −66% upside (overvalued).
What is the fair value of BNED?
Our model-based fair value for Barnes & Noble Education Inc is $3.79 (as of Sep 23, 2026), built from audited fundamentals. The current price: $11.13.
What is the quality score of BNED?
Barnes & Noble Education Inc has a Quality Score of 37/100. 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 Barnes & Noble Education Inc (BNED)?
Our model-based price target is the fair value of $3.79 (as of Sep 23, 2026) from 6 valuation models. Cautious scenario $3.79, optimistic scenario $5.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Barnes & Noble Education Inc stock forecast for 2026?
Our models put fair value at $3.79, about −66% upside versus a price of $11.13 (overvalued). Cautious scenario $3.79, optimistic scenario $5.66. The calculation is refreshed regularly with new filings.
What is the revenue of Barnes & Noble Education Inc (BNED)?
Barnes & Noble Education Inc reported trailing-twelve-month revenue of about $1.7B (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of Barnes & Noble Education Inc (BNED)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Barnes & Noble Education Inc it is $3.79 per share (as of Sep 23, 2026), against a price of $11.13. It is the blended result of 6 valuation models (cash flow, earnings, asset, dividend).
Is Barnes & Noble Education Inc stock overvalued or undervalued in 2026?
As of Sep 23, 2026, BNED trades above its calculated fair value: price $11.13, fair value $3.79, a gap of about −66% (overvalued). 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 BNED?
No. The price is what the market pays today ($11.13); the fair value is what the company's own numbers justify ($3.79). For Barnes & Noble Education Inc the two are $7.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Barnes & Noble Education Inc worth?
The market values Barnes & Noble Education Inc at about $363M (market capitalisation, as of Sep 23, 2026). Per share that is $11.13; our models calculate a fair value of $3.79 per share.
What do the bullish and bearish scenarios say about BNED?
Our models span a range for Barnes & Noble Education Inc: cautious scenario $3.79, base $3.79, optimistic $5.66 per share (as of Sep 23, 2026, price $11.13). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of BNED?
The PEG ratio of Barnes & Noble Education Inc is 1.10 (P/E divided by earnings growth, as of Sep 23, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Barnes & Noble Education Inc (BNED)?
Balance-sheet figures for Barnes & Noble Education Inc (as of Sep 23, 2026): return on equity −3.4%, debt of 0.38 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is BNED from its 52-week high?
Barnes & Noble Education Inc trades at $11.13, about 19% below its 52-week high of $13.74 and 82% above the low of $6.12 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $3.79 is for.
Which stocks are comparable to Barnes & Noble Education Inc?
From the same area (Consumer Cyclical) we also value Alimentation Couche-Tard Inc, Casey's General Stores, Inc, Williams-Sonoma, Inc, Ulta Beauty, 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 Barnes & Noble Education Inc stock attractive at the current price?
The data as of Sep 23, 2026: price $11.13, calculated fair value $3.79 (−66%), Quality Score 37/100, from 6 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 BNED calculated?
We run Barnes & Noble Education Inc through 6 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 $3.79, 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 14.0 % above its aggregate fair value. Barnes & Noble Education Inc itself currently trades above fair value. 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 Barnes & Noble Education Inc (BNED)?
The closing price on Sep 24, 2026 was $11.13. Our model-based fair value is $3.79, about −66% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Barnes & Noble Education Inc right now?
The price sits above even our optimistic bull case ($5.66). The favourable scenario is already priced in. Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.

Key figures of Barnes & Noble Education Inc

How large is the market capitalisation of Barnes & Noble Education Inc (BNED)?
The market capitalisation of Barnes & Noble Education Inc is $363M. 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/S ratio of Barnes & Noble Education Inc (BNED)?
The price-to-sales ratio of Barnes & Noble Education Inc is 0.21 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Barnes & Noble Education Inc (BNED)?
Earnings per share at Barnes & Noble Education Inc are $−0.2900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Barnes & Noble Education Inc (BNED)?
The net margin of Barnes & Noble Education Inc is −4.1% (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 return on equity of Barnes & Noble Education Inc (BNED)?
The return on equity (ROE) of Barnes & Noble Education Inc is −3.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Barnes & Noble Education Inc (BNED)?
On an EBIT basis the return on assets of Barnes & Noble Education Inc is −2.4% (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 Barnes & Noble Education Inc (BNED)?
The operating margin of Barnes & Noble Education Inc is 2.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Barnes & Noble Education Inc (BNED)?
Revenue at Barnes & Noble Education Inc is growing +11.3% versus a year earlier (3y avg +1.4%). 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 Barnes & Noble Education Inc (BNED)?
Earnings per share at Barnes & Noble Education Inc are growing −67.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Barnes & Noble Education Inc (BNED) generate?
The free cash flow of Barnes & Noble Education Inc is −$98.3M (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 Barnes & Noble Education Inc (BNED) carry?
The net debt of Barnes & Noble Education Inc is $274M (fiscal year 2026). 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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