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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) and Clearwater Paper Corp (CLW). Click either name above to swap in a different company.
Barnes & Noble Education, Inc. is the larger business by last-quarter revenue ($598.2M vs $360.3M, roughly 1.7× Clearwater Paper Corp). Barnes & Noble Education, Inc. runs the higher net margin — 4.2% vs -3.6%, a 7.7% gap on every dollar of revenue. On growth, Barnes & Noble Education, Inc. posted the faster year-over-year revenue change (6.9% vs -4.7%). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs 2.3%).
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
BNED vs CLW — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $360.3M |
| Net Profit | $25.0M | $-12.8M |
| Gross Margin | 21.7% | -0.2% |
| Operating Margin | 6.8% | — |
| Net Margin | 4.2% | -3.6% |
| Revenue YoY | 6.9% | -4.7% |
| Net Profit YoY | -49.7% | -103.2% |
| EPS (diluted) | $0.72 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $360.3M | ||
| Q4 25 | $598.2M | $386.4M | ||
| Q3 25 | $274.2M | $399.0M | ||
| Q2 25 | $233.0M | $391.8M | ||
| Q1 25 | $419.7M | $378.2M | ||
| Q4 24 | $559.7M | $387.1M | ||
| Q3 24 | $250.9M | $393.3M | ||
| Q2 24 | $192.7M | $344.4M |
| Q1 26 | — | $-12.8M | ||
| Q4 25 | $25.0M | $38.3M | ||
| Q3 25 | $-18.3M | $-53.3M | ||
| Q2 25 | $-23.0M | $2.7M | ||
| Q1 25 | $17.9M | $-6.3M | ||
| Q4 24 | $43.2M | $199.1M | ||
| Q3 24 | $-103.9M | $5.8M | ||
| Q2 24 | $-41.9M | $-25.8M |
| Q1 26 | — | -0.2% | ||
| Q4 25 | 21.7% | 4.5% | ||
| Q3 25 | 20.2% | 4.7% | ||
| Q2 25 | 30.3% | 11.0% | ||
| Q1 25 | 22.3% | 9.7% | ||
| Q4 24 | 23.0% | 3.8% | ||
| Q3 24 | 17.9% | 7.7% | ||
| Q2 24 | 28.7% | -0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 6.8% | 1.9% | ||
| Q3 25 | -8.4% | -13.9% | ||
| Q2 25 | -4.9% | 2.5% | ||
| Q1 25 | 4.5% | -1.1% | ||
| Q4 24 | 8.4% | -4.0% | ||
| Q3 24 | -15.4% | -0.3% | ||
| Q2 24 | -16.3% | -13.6% |
| Q1 26 | — | -3.6% | ||
| Q4 25 | 4.2% | 9.9% | ||
| Q3 25 | -6.7% | -13.4% | ||
| Q2 25 | -9.9% | 0.7% | ||
| Q1 25 | 4.3% | -1.7% | ||
| Q4 24 | 7.7% | 51.4% | ||
| Q3 24 | -41.4% | 1.5% | ||
| Q2 24 | -21.7% | -7.5% |
| Q1 26 | — | — | ||
| Q4 25 | $0.72 | $2.36 | ||
| Q3 25 | $-0.54 | $-3.30 | ||
| Q2 25 | $2.97 | $0.17 | ||
| Q1 25 | $0.59 | $-0.38 | ||
| Q4 24 | $1.63 | $11.87 | ||
| Q3 24 | $-7.69 | $0.35 | ||
| Q2 24 | $-15.68 | $-1.55 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $11.7M | $36.5M |
| Total DebtLower is stronger | $122.5M | $361.1M |
| Stockholders' EquityBook value | $283.2M | $813.8M |
| Total Assets | $1.1B | $1.6B |
| Debt / EquityLower = less leverage | 0.43× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $36.5M | ||
| Q4 25 | $11.7M | $30.7M | ||
| Q3 25 | $7.3M | $34.4M | ||
| Q2 25 | $9.1M | $46.7M | ||
| Q1 25 | $9.2M | $44.0M | ||
| Q4 24 | $11.6M | $79.6M | ||
| Q3 24 | $8.2M | $35.5M | ||
| Q2 24 | $10.5M | $39.6M |
| Q1 26 | — | $361.1M | ||
| Q4 25 | $122.5M | $346.8M | ||
| Q3 25 | $170.0M | $337.0M | ||
| Q2 25 | $103.1M | $330.1M | ||
| Q1 25 | $141.2M | — | ||
| Q4 24 | $177.6M | $283.4M | ||
| Q3 24 | $221.9M | $1.2B | ||
| Q2 24 | $196.3M | $1.1B |
| Q1 26 | — | $813.8M | ||
| Q4 25 | $283.2M | $825.3M | ||
| Q3 25 | $256.5M | $783.0M | ||
| Q2 25 | $272.2M | $836.8M | ||
| Q1 25 | $292.9M | $836.6M | ||
| Q4 24 | $211.4M | $854.6M | ||
| Q3 24 | $149.8M | $664.6M | ||
| Q2 24 | $80.4M | $658.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $950.8M | $1.6B | ||
| Q2 25 | $790.3M | $1.6B | ||
| Q1 25 | $1.1B | $1.6B | ||
| Q4 24 | $1.0B | $1.7B | ||
| Q3 24 | $973.2M | $2.5B | ||
| Q2 24 | $909.9M | $2.5B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | 0.43× | 0.42× | ||
| Q3 25 | 0.66× | 0.43× | ||
| Q2 25 | 0.38× | 0.39× | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.84× | 0.33× | ||
| Q3 24 | 1.48× | 1.73× | ||
| Q2 24 | 2.44× | 1.74× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $66.2M | — |
| Free Cash FlowOCF − Capex | $61.9M | — |
| FCF MarginFCF / Revenue | 10.4% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | 2.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $66.2M | $5.0M | ||
| Q3 25 | $-67.6M | $34.0M | ||
| Q2 25 | $52.6M | $-28.2M | ||
| Q1 25 | $-41.9M | $1.5M | ||
| Q4 24 | $47.4M | $-35.1M | ||
| Q3 24 | $-143.5M | $16.2M | ||
| Q2 24 | $81.7M | $21.1M |
| Q1 26 | — | — | ||
| Q4 25 | $61.9M | $-9.9M | ||
| Q3 25 | $-71.3M | $15.7M | ||
| Q2 25 | $49.5M | $-51.1M | ||
| Q1 25 | $-44.7M | $-31.2M | ||
| Q4 24 | $44.4M | $-68.1M | ||
| Q3 24 | $-147.5M | $-30.8M | ||
| Q2 24 | $79.1M | $3.0M |
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | -2.6% | ||
| Q3 25 | -26.0% | 3.9% | ||
| Q2 25 | 21.3% | -13.0% | ||
| Q1 25 | -10.7% | -8.2% | ||
| Q4 24 | 7.9% | -17.6% | ||
| Q3 24 | -58.8% | -7.8% | ||
| Q2 24 | 41.1% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 3.9% | ||
| Q3 25 | 1.4% | 4.6% | ||
| Q2 25 | 1.3% | 5.8% | ||
| Q1 25 | 0.7% | 8.6% | ||
| Q4 24 | 0.5% | 8.5% | ||
| Q3 24 | 1.6% | 12.0% | ||
| Q2 24 | 1.4% | 5.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.65× | 0.13× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -10.44× | ||
| Q1 25 | -2.34× | — | ||
| Q4 24 | 1.10× | -0.18× | ||
| Q3 24 | — | 2.79× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
CLW
Segment breakdown not available.
