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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) and Essex Property Trust (ESS). 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 $479.6M, roughly 1.2× Essex Property Trust). Essex Property Trust runs the higher net margin — 17.9% vs 4.2%, a 13.7% gap on every dollar of revenue. On growth, Barnes & Noble Education, Inc. posted the faster year-over-year revenue change (6.9% vs 5.5%). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs 6.0%).
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.
Essex Property Trust is a publicly traded real estate investment trust that invests in apartments in California and in the Seattle metropolitan area.
BNED vs ESS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $479.6M |
| Net Profit | $25.0M | $85.7M |
| Gross Margin | 21.7% | 70.0% |
| Operating Margin | 6.8% | 31.7% |
| Net Margin | 4.2% | 17.9% |
| Revenue YoY | 6.9% | 5.5% |
| Net Profit YoY | -49.7% | -71.6% |
| EPS (diluted) | $0.72 | $1.24 |
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.
| Q4 25 | $598.2M | $479.6M | ||
| Q3 25 | $274.2M | $473.3M | ||
| Q2 25 | $233.0M | $469.8M | ||
| Q1 25 | $419.7M | $464.6M | ||
| Q4 24 | $559.7M | $454.5M | ||
| Q3 24 | $250.9M | $450.7M | ||
| Q2 24 | $192.7M | $442.4M | ||
| Q1 24 | $415.4M | $426.9M |
| Q4 25 | $25.0M | $85.7M | ||
| Q3 25 | $-18.3M | $172.7M | ||
| Q2 25 | $-23.0M | $231.5M | ||
| Q1 25 | $17.9M | $212.8M | ||
| Q4 24 | $43.2M | $301.7M | ||
| Q3 24 | $-103.9M | $125.5M | ||
| Q2 24 | $-41.9M | $99.0M | ||
| Q1 24 | $-9.3M | $285.1M |
| Q4 25 | 21.7% | 70.0% | ||
| Q3 25 | 20.2% | 69.2% | ||
| Q2 25 | 30.3% | 70.7% | ||
| Q1 25 | 22.3% | 69.6% | ||
| Q4 24 | 23.0% | 70.0% | ||
| Q3 24 | 17.9% | 69.5% | ||
| Q2 24 | 28.7% | 70.8% | ||
| Q1 24 | 24.2% | 69.7% |
| Q4 25 | 6.8% | 31.7% | ||
| Q3 25 | -8.4% | 44.5% | ||
| Q2 25 | -4.9% | 59.5% | ||
| Q1 25 | 4.5% | 55.3% | ||
| Q4 24 | 8.4% | 67.0% | ||
| Q3 24 | -15.4% | 28.6% | ||
| Q2 24 | -16.3% | 31.1% | ||
| Q1 24 | 0.4% | 31.0% |
| Q4 25 | 4.2% | 17.9% | ||
| Q3 25 | -6.7% | 36.5% | ||
| Q2 25 | -9.9% | 49.3% | ||
| Q1 25 | 4.3% | 45.8% | ||
| Q4 24 | 7.7% | 66.4% | ||
| Q3 24 | -41.4% | 27.8% | ||
| Q2 24 | -21.7% | 22.4% | ||
| Q1 24 | -2.2% | 66.8% |
| Q4 25 | $0.72 | $1.24 | ||
| Q3 25 | $-0.54 | $2.56 | ||
| Q2 25 | $2.97 | $3.44 | ||
| Q1 25 | $0.59 | $3.16 | ||
| Q4 24 | $1.63 | $4.00 | ||
| Q3 24 | $-7.69 | $1.84 | ||
| Q2 24 | $-15.68 | $1.45 | ||
| Q1 24 | $-3.49 | $4.25 |
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 | $76.2M |
| Total DebtLower is stronger | $122.5M | — |
| Stockholders' EquityBook value | $283.2M | $5.5B |
| Total Assets | $1.1B | $13.2B |
| Debt / EquityLower = less leverage | 0.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.7M | $76.2M | ||
| Q3 25 | $7.3M | $66.0M | ||
| Q2 25 | $9.1M | $58.7M | ||
| Q1 25 | $9.2M | $98.7M | ||
| Q4 24 | $11.6M | $66.8M | ||
| Q3 24 | $8.2M | $71.3M | ||
| Q2 24 | $10.5M | $55.2M | ||
| Q1 24 | $8.1M | $499.0M |
| Q4 25 | $122.5M | — | ||
| Q3 25 | $170.0M | $6.4B | ||
| Q2 25 | $103.1M | $6.4B | ||
| Q1 25 | $141.2M | $6.8B | ||
| Q4 24 | $177.6M | — | ||
| Q3 24 | $221.9M | $6.4B | ||
| Q2 24 | $196.3M | $6.2B | ||
| Q1 24 | $30.2M | $6.6B |
| Q4 25 | $283.2M | $5.5B | ||
| Q3 25 | $256.5M | $5.6B | ||
| Q2 25 | $272.2M | $5.6B | ||
| Q1 25 | $292.9M | $5.6B | ||
| Q4 24 | $211.4M | $5.5B | ||
| Q3 24 | $149.8M | $5.4B | ||
| Q2 24 | $80.4M | $5.5B | ||
| Q1 24 | $121.5M | $5.5B |
| Q4 25 | $1.1B | $13.2B | ||
| Q3 25 | $950.8M | $13.2B | ||
| Q2 25 | $790.3M | $13.2B | ||
| Q1 25 | $1.1B | $13.2B | ||
| Q4 24 | $1.0B | $12.9B | ||
| Q3 24 | $973.2M | $12.6B | ||
| Q2 24 | $909.9M | $12.5B | ||
| Q1 24 | $1.2B | $12.9B |
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.66× | 1.15× | ||
| Q2 25 | 0.38× | 1.14× | ||
| Q1 25 | 0.48× | 1.22× | ||
| Q4 24 | 0.84× | — | ||
| Q3 24 | 1.48× | 1.18× | ||
| Q2 24 | 2.44× | 1.13× | ||
| Q1 24 | 0.25× | 1.19× |
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 | $1.1B |
| Free Cash FlowOCF − Capex | $61.9M | — |
| FCF MarginFCF / Revenue | 10.4% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | 2.65× | 12.53× |
| TTM Free Cash FlowTrailing 4 quarters | $-4.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.2M | $1.1B | ||
| Q3 25 | $-67.6M | $342.6M | ||
| Q2 25 | $52.6M | $216.1M | ||
| Q1 25 | $-41.9M | $281.5M | ||
| Q4 24 | $47.4M | $1.1B | ||
| Q3 24 | $-143.5M | $316.2M | ||
| Q2 24 | $81.7M | $218.9M | ||
| Q1 24 | $-35.8M | $314.9M |
| Q4 25 | $61.9M | — | ||
| Q3 25 | $-71.3M | — | ||
| Q2 25 | $49.5M | — | ||
| Q1 25 | $-44.7M | — | ||
| Q4 24 | $44.4M | — | ||
| Q3 24 | $-147.5M | — | ||
| Q2 24 | $79.1M | — | ||
| Q1 24 | $-39.0M | — |
| Q4 25 | 10.4% | — | ||
| Q3 25 | -26.0% | — | ||
| Q2 25 | 21.3% | — | ||
| Q1 25 | -10.7% | — | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | -58.8% | — | ||
| Q2 24 | 41.1% | — | ||
| Q1 24 | -9.4% | — |
| Q4 25 | 0.7% | — | ||
| Q3 25 | 1.4% | — | ||
| Q2 25 | 1.3% | — | ||
| Q1 25 | 0.7% | — | ||
| Q4 24 | 0.5% | — | ||
| Q3 24 | 1.6% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 0.8% | — |
| Q4 25 | 2.65× | 12.53× | ||
| Q3 25 | — | 1.98× | ||
| Q2 25 | — | 0.93× | ||
| Q1 25 | -2.34× | 1.32× | ||
| Q4 24 | 1.10× | 3.54× | ||
| Q3 24 | — | 2.52× | ||
| Q2 24 | — | 2.21× | ||
| Q1 24 | — | 1.10× |
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% |
ESS
Segment breakdown not available.
