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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) and Gaming & Leisure Properties, Inc. (GLPI). 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 $420.0M, roughly 1.4× Gaming & Leisure Properties, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs 4.2%, a 52.8% gap on every dollar of revenue. On growth, Barnes & Noble Education, Inc. posted the faster year-over-year revenue change (6.9% vs 6.3%). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs 5.0%).
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.
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
BNED vs GLPI — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $420.0M |
| Net Profit | $25.0M | $239.4M |
| Gross Margin | 21.7% | — |
| Operating Margin | 6.8% | 79.4% |
| Net Margin | 4.2% | 57.0% |
| Revenue YoY | 6.9% | 6.3% |
| Net Profit YoY | -49.7% | 40.5% |
| 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 | — | $420.0M | ||
| Q4 25 | $598.2M | $407.0M | ||
| Q3 25 | $274.2M | $397.6M | ||
| Q2 25 | $233.0M | $394.9M | ||
| Q1 25 | $419.7M | $395.2M | ||
| Q4 24 | $559.7M | $389.6M | ||
| Q3 24 | $250.9M | $385.3M | ||
| Q2 24 | $192.7M | $380.6M |
| Q1 26 | — | $239.4M | ||
| Q4 25 | $25.0M | $275.4M | ||
| Q3 25 | $-18.3M | $241.2M | ||
| Q2 25 | $-23.0M | $151.4M | ||
| Q1 25 | $17.9M | $165.2M | ||
| Q4 24 | $43.2M | $223.6M | ||
| Q3 24 | $-103.9M | $184.7M | ||
| Q2 24 | $-41.9M | $208.3M |
| Q1 26 | — | — | ||
| 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 26 | — | 79.4% | ||
| Q4 25 | 6.8% | 89.3% | ||
| Q3 25 | -8.4% | 84.8% | ||
| Q2 25 | -4.9% | 61.3% | ||
| Q1 25 | 4.5% | 65.5% | ||
| Q4 24 | 8.4% | 79.1% | ||
| Q3 24 | -15.4% | 70.4% | ||
| Q2 24 | -16.3% | 77.1% |
| Q1 26 | — | 57.0% | ||
| Q4 25 | 4.2% | 67.6% | ||
| Q3 25 | -6.7% | 60.7% | ||
| Q2 25 | -9.9% | 38.4% | ||
| Q1 25 | 4.3% | 41.8% | ||
| Q4 24 | 7.7% | 57.4% | ||
| Q3 24 | -41.4% | 47.9% | ||
| Q2 24 | -21.7% | 54.7% |
| Q1 26 | — | — | ||
| Q4 25 | $0.72 | $0.96 | ||
| Q3 25 | $-0.54 | $0.85 | ||
| Q2 25 | $2.97 | $0.54 | ||
| Q1 25 | $0.59 | $0.60 | ||
| Q4 24 | $1.63 | $0.79 | ||
| Q3 24 | $-7.69 | $0.67 | ||
| Q2 24 | $-15.68 | $0.77 |
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 | $274.5M |
| Total DebtLower is stronger | $122.5M | — |
| Stockholders' EquityBook value | $283.2M | $5.0B |
| Total Assets | $1.1B | $13.8B |
| Debt / EquityLower = less leverage | 0.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $274.5M | ||
| Q4 25 | $11.7M | — | ||
| Q3 25 | $7.3M | — | ||
| Q2 25 | $9.1M | — | ||
| Q1 25 | $9.2M | — | ||
| Q4 24 | $11.6M | $560.8M | ||
| Q3 24 | $8.2M | $560.8M | ||
| Q2 24 | $10.5M | $560.8M |
| Q1 26 | — | — | ||
| Q4 25 | $122.5M | $7.2B | ||
| Q3 25 | $170.0M | $7.2B | ||
| Q2 25 | $103.1M | $6.9B | ||
| Q1 25 | $141.2M | $6.9B | ||
| Q4 24 | $177.6M | $7.7B | ||
| Q3 24 | $221.9M | $7.4B | ||
| Q2 24 | $196.3M | $6.6B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $283.2M | $4.6B | ||
| Q3 25 | $256.5M | $4.6B | ||
| Q2 25 | $272.2M | $4.6B | ||
| Q1 25 | $292.9M | $4.2B | ||
| Q4 24 | $211.4M | $4.3B | ||
| Q3 24 | $149.8M | $4.3B | ||
| Q2 24 | $80.4M | $4.1B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | $1.1B | $12.9B | ||
| Q3 25 | $950.8M | $12.8B | ||
| Q2 25 | $790.3M | $12.5B | ||
| Q1 25 | $1.1B | $12.1B | ||
| Q4 24 | $1.0B | $13.1B | ||
| Q3 24 | $973.2M | $12.7B | ||
| Q2 24 | $909.9M | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | 1.56× | ||
| Q3 25 | 0.66× | 1.57× | ||
| Q2 25 | 0.38× | 1.51× | ||
| Q1 25 | 0.48× | 1.63× | ||
| Q4 24 | 0.84× | 1.81× | ||
| Q3 24 | 1.48× | 1.74× | ||
| Q2 24 | 2.44× | 1.60× |
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 | $1.1B | ||
| Q3 25 | $-67.6M | $240.3M | ||
| Q2 25 | $52.6M | $293.4M | ||
| Q1 25 | $-41.9M | $252.5M | ||
| Q4 24 | $47.4M | $1.1B | ||
| Q3 24 | $-143.5M | $270.4M | ||
| Q2 24 | $81.7M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | $61.9M | — | ||
| Q3 25 | $-71.3M | $183.0M | ||
| Q2 25 | $49.5M | $272.3M | ||
| Q1 25 | $-44.7M | $239.6M | ||
| Q4 24 | $44.4M | $1.1B | ||
| Q3 24 | $-147.5M | $261.5M | ||
| Q2 24 | $79.1M | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | 10.4% | — | ||
| Q3 25 | -26.0% | 46.0% | ||
| Q2 25 | 21.3% | 69.0% | ||
| Q1 25 | -10.7% | 60.6% | ||
| Q4 24 | 7.9% | 275.3% | ||
| Q3 24 | -58.8% | 67.9% | ||
| Q2 24 | 41.1% | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | — | ||
| Q3 25 | 1.4% | 14.4% | ||
| Q2 25 | 1.3% | 5.3% | ||
| Q1 25 | 0.7% | 3.3% | ||
| Q4 24 | 0.5% | 0.0% | ||
| Q3 24 | 1.6% | 2.3% | ||
| Q2 24 | 1.4% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.65× | 4.10× | ||
| Q3 25 | — | 1.00× | ||
| Q2 25 | — | 1.94× | ||
| Q1 25 | -2.34× | 1.53× | ||
| Q4 24 | 1.10× | 4.80× | ||
| Q3 24 | — | 1.46× | ||
| Q2 24 | — | 1.21× |
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% |
GLPI
Segment breakdown not available.
