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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) and PEGASYSTEMS INC (PEGA). 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 $430.0M, roughly 1.4× PEGASYSTEMS INC). PEGASYSTEMS INC runs the higher net margin — 7.6% vs 4.2%, a 3.4% gap on every dollar of revenue. On growth, Barnes & Noble Education, Inc. posted the faster year-over-year revenue change (6.9% vs -9.6%). PEGASYSTEMS INC produced more free cash flow last quarter ($206.5M vs $61.9M). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs 10.7%).
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.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
BNED vs PEGA — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $430.0M |
| Net Profit | $25.0M | $32.8M |
| Gross Margin | 21.7% | 75.2% |
| Operating Margin | 6.8% | 8.6% |
| Net Margin | 4.2% | 7.6% |
| Revenue YoY | 6.9% | -9.6% |
| Net Profit YoY | -49.7% | -61.6% |
| EPS (diluted) | $0.72 | $0.18 |
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 | — | $430.0M | ||
| Q4 25 | $598.2M | $504.3M | ||
| Q3 25 | $274.2M | $381.4M | ||
| Q2 25 | $233.0M | $384.5M | ||
| Q1 25 | $419.7M | $475.6M | ||
| Q4 24 | $559.7M | $490.8M | ||
| Q3 24 | $250.9M | $325.1M | ||
| Q2 24 | $192.7M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $25.0M | $234.6M | ||
| Q3 25 | $-18.3M | $43.4M | ||
| Q2 25 | $-23.0M | $30.1M | ||
| Q1 25 | $17.9M | $85.4M | ||
| Q4 24 | $43.2M | $119.1M | ||
| Q3 24 | $-103.9M | $-14.4M | ||
| Q2 24 | $-41.9M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | 21.7% | 79.5% | ||
| Q3 25 | 20.2% | 72.2% | ||
| Q2 25 | 30.3% | 71.5% | ||
| Q1 25 | 22.3% | 78.5% | ||
| Q4 24 | 23.0% | 79.1% | ||
| Q3 24 | 17.9% | 70.2% | ||
| Q2 24 | 28.7% | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 6.8% | 20.7% | ||
| Q3 25 | -8.4% | 3.8% | ||
| Q2 25 | -4.9% | 4.5% | ||
| Q1 25 | 4.5% | 26.7% | ||
| Q4 24 | 8.4% | 29.1% | ||
| Q3 24 | -15.4% | -3.6% | ||
| Q2 24 | -16.3% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 4.2% | 46.5% | ||
| Q3 25 | -6.7% | 11.4% | ||
| Q2 25 | -9.9% | 7.8% | ||
| Q1 25 | 4.3% | 18.0% | ||
| Q4 24 | 7.7% | 24.3% | ||
| Q3 24 | -41.4% | -4.4% | ||
| Q2 24 | -21.7% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.72 | $0.81 | ||
| Q3 25 | $-0.54 | $0.24 | ||
| Q2 25 | $2.97 | $0.17 | ||
| Q1 25 | $0.59 | $0.91 | ||
| Q4 24 | $1.63 | $1.35 | ||
| Q3 24 | $-7.69 | $-0.17 | ||
| Q2 24 | $-15.68 | $0.07 |
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 | $270.0M |
| Total DebtLower is stronger | $122.5M | — |
| Stockholders' EquityBook value | $283.2M | $705.9M |
| Total Assets | $1.1B | $1.6B |
| Debt / EquityLower = less leverage | 0.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $11.7M | $425.8M | ||
| Q3 25 | $7.3M | $351.4M | ||
| Q2 25 | $9.1M | $411.6M | ||
| Q1 25 | $9.2M | $371.7M | ||
| Q4 24 | $11.6M | $740.0M | ||
| Q3 24 | $8.2M | $703.0M | ||
| Q2 24 | $10.5M | $665.1M |
| Q1 26 | — | — | ||
| Q4 25 | $122.5M | — | ||
| Q3 25 | $170.0M | — | ||
| Q2 25 | $103.1M | — | ||
| Q1 25 | $141.2M | — | ||
| Q4 24 | $177.6M | — | ||
| Q3 24 | $221.9M | — | ||
| Q2 24 | $196.3M | — |
| Q1 26 | — | $705.9M | ||
| Q4 25 | $283.2M | $787.4M | ||
| Q3 25 | $256.5M | $596.8M | ||
| Q2 25 | $272.2M | $624.5M | ||
| Q1 25 | $292.9M | $611.3M | ||
| Q4 24 | $211.4M | $585.5M | ||
| Q3 24 | $149.8M | $473.0M | ||
| Q2 24 | $80.4M | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $950.8M | $1.3B | ||
| Q2 25 | $790.3M | $1.3B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $973.2M | $1.6B | ||
| Q2 24 | $909.9M | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.43× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.38× | — | ||
| Q1 25 | 0.48× | — | ||
| Q4 24 | 0.84× | — | ||
| Q3 24 | 1.48× | — | ||
| Q2 24 | 2.44× | — |
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 | $206.5M |
| FCF MarginFCF / Revenue | 10.4% | 48.0% |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | 2.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.6M | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $66.2M | $158.4M | ||
| Q3 25 | $-67.6M | $56.3M | ||
| Q2 25 | $52.6M | $86.3M | ||
| Q1 25 | $-41.9M | $204.2M | ||
| Q4 24 | $47.4M | $95.2M | ||
| Q3 24 | $-143.5M | $30.5M | ||
| Q2 24 | $81.7M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $61.9M | $152.4M | ||
| Q3 25 | $-71.3M | $51.8M | ||
| Q2 25 | $49.5M | $84.1M | ||
| Q1 25 | $-44.7M | $202.3M | ||
| Q4 24 | $44.4M | $92.4M | ||
| Q3 24 | $-147.5M | $27.4M | ||
| Q2 24 | $79.1M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | 10.4% | 30.2% | ||
| Q3 25 | -26.0% | 13.6% | ||
| Q2 25 | 21.3% | 21.9% | ||
| Q1 25 | -10.7% | 42.5% | ||
| Q4 24 | 7.9% | 18.8% | ||
| Q3 24 | -58.8% | 8.4% | ||
| Q2 24 | 41.1% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 1.2% | ||
| Q3 25 | 1.4% | 1.2% | ||
| Q2 25 | 1.3% | 0.6% | ||
| Q1 25 | 0.7% | 0.4% | ||
| Q4 24 | 0.5% | 0.6% | ||
| Q3 24 | 1.6% | 0.9% | ||
| Q2 24 | 1.4% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.65× | 0.68× | ||
| Q3 25 | — | 1.30× | ||
| Q2 25 | — | 2.87× | ||
| Q1 25 | -2.34× | 2.39× | ||
| Q4 24 | 1.10× | 0.80× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.06× |
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% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
