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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) and Global Business Travel Group, Inc. (GBTG). Click either name above to swap in a different company.
Global Business Travel Group, Inc. is the larger business by last-quarter revenue ($792.0M vs $598.2M, roughly 1.3× Barnes & Noble Education, Inc.). Global Business Travel Group, Inc. runs the higher net margin — 10.5% vs 4.2%, a 6.3% gap on every dollar of revenue. On growth, Global Business Travel Group, Inc. posted the faster year-over-year revenue change (34.0% vs 6.9%). Barnes & Noble Education, Inc. produced more free cash flow last quarter ($61.9M vs $13.0M). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs 13.9%).
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.
A travel management company (TMC) is a travel agency which manages organizations' corporate or business travel programs. Such companies will often provide an end-user online booking tool, mobile application, program management, and consulting teams, executive travel services, meetings and events support, reporting functionality, duty of care, and more. Non-Profit travel management companies also provide services to manage complex visa requirements, pre-trip medical needs, remote area travel, ...
BNED vs GBTG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $792.0M |
| Net Profit | $25.0M | $83.0M |
| Gross Margin | 21.7% | — |
| Operating Margin | 6.8% | 3.7% |
| Net Margin | 4.2% | 10.5% |
| Revenue YoY | 6.9% | 34.0% |
| Net Profit YoY | -49.7% | 692.9% |
| EPS (diluted) | $0.72 | $0.16 |
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 | $792.0M | ||
| Q3 25 | $274.2M | $674.0M | ||
| Q2 25 | $233.0M | $631.0M | ||
| Q1 25 | $419.7M | $621.0M | ||
| Q4 24 | $559.7M | $591.0M | ||
| Q3 24 | $250.9M | $597.0M | ||
| Q2 24 | $192.7M | $625.0M | ||
| Q1 24 | $415.4M | $610.0M |
| Q4 25 | $25.0M | $83.0M | ||
| Q3 25 | $-18.3M | $-62.0M | ||
| Q2 25 | $-23.0M | $15.0M | ||
| Q1 25 | $17.9M | $75.0M | ||
| Q4 24 | $43.2M | $-14.0M | ||
| Q3 24 | $-103.9M | $-128.0M | ||
| Q2 24 | $-41.9M | $27.0M | ||
| Q1 24 | $-9.3M | $-19.0M |
| Q4 25 | 21.7% | — | ||
| Q3 25 | 20.2% | — | ||
| Q2 25 | 30.3% | — | ||
| Q1 25 | 22.3% | — | ||
| Q4 24 | 23.0% | — | ||
| Q3 24 | 17.9% | — | ||
| Q2 24 | 28.7% | — | ||
| Q1 24 | 24.2% | — |
| Q4 25 | 6.8% | 3.7% | ||
| Q3 25 | -8.4% | 1.8% | ||
| Q2 25 | -4.9% | 5.4% | ||
| Q1 25 | 4.5% | 8.9% | ||
| Q4 24 | 8.4% | 5.1% | ||
| Q3 24 | -15.4% | 4.5% | ||
| Q2 24 | -16.3% | 6.7% | ||
| Q1 24 | 0.4% | 2.6% |
| Q4 25 | 4.2% | 10.5% | ||
| Q3 25 | -6.7% | -9.2% | ||
| Q2 25 | -9.9% | 2.4% | ||
| Q1 25 | 4.3% | 12.1% | ||
| Q4 24 | 7.7% | -2.4% | ||
| Q3 24 | -41.4% | -21.4% | ||
| Q2 24 | -21.7% | 4.3% | ||
| Q1 24 | -2.2% | -3.1% |
| Q4 25 | $0.72 | $0.16 | ||
| Q3 25 | $-0.54 | $-0.13 | ||
| Q2 25 | $2.97 | $0.03 | ||
| Q1 25 | $0.59 | $0.16 | ||
| Q4 24 | $1.63 | $-0.04 | ||
| Q3 24 | $-7.69 | $-0.28 | ||
| Q2 24 | $-15.68 | $0.06 | ||
| Q1 24 | $-3.49 | $-0.04 |
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 | $434.0M |
| Total DebtLower is stronger | $122.5M | $1.4B |
| Stockholders' EquityBook value | $283.2M | $1.6B |
| Total Assets | $1.1B | $4.9B |
| Debt / EquityLower = less leverage | 0.43× | 0.88× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.7M | $434.0M | ||
| Q3 25 | $7.3M | $427.0M | ||
| Q2 25 | $9.1M | $601.0M | ||
| Q1 25 | $9.2M | $552.0M | ||
| Q4 24 | $11.6M | $536.0M | ||
| Q3 24 | $8.2M | $524.0M | ||
| Q2 24 | $10.5M | $515.0M | ||
| Q1 24 | $8.1M | $475.0M |
| Q4 25 | $122.5M | $1.4B | ||
| Q3 25 | $170.0M | $1.4B | ||
| Q2 25 | $103.1M | $1.4B | ||
| Q1 25 | $141.2M | $1.4B | ||
| Q4 24 | $177.6M | $1.4B | ||
| Q3 24 | $221.9M | $1.4B | ||
| Q2 24 | $196.3M | — | ||
| Q1 24 | $30.2M | — |
| Q4 25 | $283.2M | $1.6B | ||
| Q3 25 | $256.5M | $1.5B | ||
| Q2 25 | $272.2M | $1.2B | ||
| Q1 25 | $292.9M | $1.1B | ||
| Q4 24 | $211.4M | $1.1B | ||
| Q3 24 | $149.8M | $1.1B | ||
| Q2 24 | $80.4M | $1.2B | ||
| Q1 24 | $121.5M | $1.2B |
| Q4 25 | $1.1B | $4.9B | ||
| Q3 25 | $950.8M | $4.8B | ||
| Q2 25 | $790.3M | $3.9B | ||
| Q1 25 | $1.1B | $3.8B | ||
| Q4 24 | $1.0B | $3.6B | ||
| Q3 24 | $973.2M | $3.8B | ||
| Q2 24 | $909.9M | $3.8B | ||
| Q1 24 | $1.2B | $3.8B |
| Q4 25 | 0.43× | 0.88× | ||
| Q3 25 | 0.66× | 0.91× | ||
| Q2 25 | 0.38× | 1.15× | ||
| Q1 25 | 0.48× | 1.23× | ||
| Q4 24 | 0.84× | 1.32× | ||
| Q3 24 | 1.48× | 1.26× | ||
| Q2 24 | 2.44× | — | ||
| Q1 24 | 0.25× | — |
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 | $52.0M |
| Free Cash FlowOCF − Capex | $61.9M | $13.0M |
| FCF MarginFCF / Revenue | 10.4% | 1.6% |
| Capex IntensityCapex / Revenue | 0.7% | 4.9% |
| Cash ConversionOCF / Net Profit | 2.65× | 0.63× |
| TTM Free Cash FlowTrailing 4 quarters | $-4.6M | $104.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.2M | $52.0M | ||
| Q3 25 | $-67.6M | $71.0M | ||
| Q2 25 | $52.6M | $57.0M | ||
| Q1 25 | $-41.9M | $53.0M | ||
| Q4 24 | $47.4M | $65.0M | ||
| Q3 24 | $-143.5M | $85.0M | ||
| Q2 24 | $81.7M | $73.0M | ||
| Q1 24 | $-35.8M | $49.0M |
| Q4 25 | $61.9M | $13.0M | ||
| Q3 25 | $-71.3M | $38.0M | ||
| Q2 25 | $49.5M | $27.0M | ||
| Q1 25 | $-44.7M | $26.0M | ||
| Q4 24 | $44.4M | $33.0M | ||
| Q3 24 | $-147.5M | $59.0M | ||
| Q2 24 | $79.1M | $49.0M | ||
| Q1 24 | $-39.0M | $24.0M |
| Q4 25 | 10.4% | 1.6% | ||
| Q3 25 | -26.0% | 5.6% | ||
| Q2 25 | 21.3% | 4.3% | ||
| Q1 25 | -10.7% | 4.2% | ||
| Q4 24 | 7.9% | 5.6% | ||
| Q3 24 | -58.8% | 9.9% | ||
| Q2 24 | 41.1% | 7.8% | ||
| Q1 24 | -9.4% | 3.9% |
| Q4 25 | 0.7% | 4.9% | ||
| Q3 25 | 1.4% | 4.9% | ||
| Q2 25 | 1.3% | 4.8% | ||
| Q1 25 | 0.7% | 4.3% | ||
| Q4 24 | 0.5% | 5.4% | ||
| Q3 24 | 1.6% | 4.4% | ||
| Q2 24 | 1.4% | 3.8% | ||
| Q1 24 | 0.8% | 4.1% |
| Q4 25 | 2.65× | 0.63× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.80× | ||
| Q1 25 | -2.34× | 0.71× | ||
| Q4 24 | 1.10× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.70× | ||
| Q1 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% |
GBTG
| Travel | $620.0M | 78% |
| Other | $172.0M | 22% |
