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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) and WillScot Holdings Corp (WSC). 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 $566.0M, roughly 1.1× WillScot Holdings Corp). Barnes & Noble Education, Inc. runs the higher net margin — 4.2% vs -33.1%, a 37.3% gap on every dollar of revenue. On growth, Barnes & Noble Education, Inc. posted the faster year-over-year revenue change (6.9% vs -6.1%). WillScot Holdings Corp produced more free cash flow last quarter ($149.7M vs $61.9M). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs -1.8%).
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.
WillScot Holdings Corp is a leading provider of modular space solutions and portable storage services across North America. It serves a wide range of sectors including construction, commercial development, education, healthcare, government projects, and special events, offering flexible, scalable temporary and semi-permanent space solutions tailored to diverse client needs.
BNED vs WSC — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $566.0M |
| Net Profit | $25.0M | $-187.3M |
| Gross Margin | 21.7% | 50.4% |
| Operating Margin | 6.8% | -32.5% |
| Net Margin | 4.2% | -33.1% |
| Revenue YoY | 6.9% | -6.1% |
| Net Profit YoY | -49.7% | -310.0% |
| EPS (diluted) | $0.72 | $-1.02 |
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 | $566.0M | ||
| Q3 25 | $274.2M | $566.8M | ||
| Q2 25 | $233.0M | $589.1M | ||
| Q1 25 | $419.7M | $559.6M | ||
| Q4 24 | $559.7M | $602.5M | ||
| Q3 24 | $250.9M | $601.4M | ||
| Q2 24 | $192.7M | $604.6M | ||
| Q1 24 | $415.4M | $587.2M |
| Q4 25 | $25.0M | $-187.3M | ||
| Q3 25 | $-18.3M | $43.3M | ||
| Q2 25 | $-23.0M | $47.9M | ||
| Q1 25 | $17.9M | $43.1M | ||
| Q4 24 | $43.2M | $89.2M | ||
| Q3 24 | $-103.9M | $-70.5M | ||
| Q2 24 | $-41.9M | $-46.9M | ||
| Q1 24 | $-9.3M | $56.2M |
| Q4 25 | 21.7% | 50.4% | ||
| Q3 25 | 20.2% | 49.7% | ||
| Q2 25 | 30.3% | 50.3% | ||
| Q1 25 | 22.3% | 53.7% | ||
| Q4 24 | 23.0% | 55.8% | ||
| Q3 24 | 17.9% | 53.5% | ||
| Q2 24 | 28.7% | 54.1% | ||
| Q1 24 | 24.2% | 54.0% |
| Q4 25 | 6.8% | -32.5% | ||
| Q3 25 | -8.4% | 21.0% | ||
| Q2 25 | -4.9% | 21.5% | ||
| Q1 25 | 4.5% | 21.3% | ||
| Q4 24 | 8.4% | 28.9% | ||
| Q3 24 | -15.4% | -5.9% | ||
| Q2 24 | -16.3% | -0.9% | ||
| Q1 24 | 0.4% | 22.1% |
| Q4 25 | 4.2% | -33.1% | ||
| Q3 25 | -6.7% | 7.6% | ||
| Q2 25 | -9.9% | 8.1% | ||
| Q1 25 | 4.3% | 7.7% | ||
| Q4 24 | 7.7% | 14.8% | ||
| Q3 24 | -41.4% | -11.7% | ||
| Q2 24 | -21.7% | -7.7% | ||
| Q1 24 | -2.2% | 9.6% |
| Q4 25 | $0.72 | $-1.02 | ||
| Q3 25 | $-0.54 | $0.24 | ||
| Q2 25 | $2.97 | $0.26 | ||
| Q1 25 | $0.59 | $0.23 | ||
| Q4 24 | $1.63 | $0.48 | ||
| Q3 24 | $-7.69 | $-0.37 | ||
| Q2 24 | $-15.68 | $-0.25 | ||
| Q1 24 | $-3.49 | $0.29 |
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 | $14.6M |
| Total DebtLower is stronger | $122.5M | $3.6B |
| Stockholders' EquityBook value | $283.2M | $856.3M |
| Total Assets | $1.1B | $5.8B |
| Debt / EquityLower = less leverage | 0.43× | 4.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.7M | $14.6M | ||
| Q3 25 | $7.3M | $14.8M | ||
| Q2 25 | $9.1M | $12.8M | ||
| Q1 25 | $9.2M | $10.7M | ||
| Q4 24 | $11.6M | $9.0M | ||
| Q3 24 | $8.2M | $11.0M | ||
| Q2 24 | $10.5M | $5.9M | ||
| Q1 24 | $8.1M | $13.1M |
| Q4 25 | $122.5M | $3.6B | ||
| Q3 25 | $170.0M | $3.6B | ||
| Q2 25 | $103.1M | $3.7B | ||
| Q1 25 | $141.2M | $3.6B | ||
| Q4 24 | $177.6M | $3.7B | ||
| Q3 24 | $221.9M | $3.6B | ||
| Q2 24 | $196.3M | $3.5B | ||
| Q1 24 | $30.2M | $3.5B |
| Q4 25 | $283.2M | $856.3M | ||
| Q3 25 | $256.5M | $1.1B | ||
| Q2 25 | $272.2M | $1.0B | ||
| Q1 25 | $292.9M | $1.0B | ||
| Q4 24 | $211.4M | $1.0B | ||
| Q3 24 | $149.8M | $1.1B | ||
| Q2 24 | $80.4M | $1.2B | ||
| Q1 24 | $121.5M | $1.3B |
| Q4 25 | $1.1B | $5.8B | ||
| Q3 25 | $950.8M | $6.1B | ||
| Q2 25 | $790.3M | $6.1B | ||
| Q1 25 | $1.1B | $6.0B | ||
| Q4 24 | $1.0B | $6.0B | ||
| Q3 24 | $973.2M | $6.0B | ||
| Q2 24 | $909.9M | $6.0B | ||
| Q1 24 | $1.2B | $6.2B |
| Q4 25 | 0.43× | 4.15× | ||
| Q3 25 | 0.66× | 3.39× | ||
| Q2 25 | 0.38× | 3.55× | ||
| Q1 25 | 0.48× | 3.56× | ||
| Q4 24 | 0.84× | 3.62× | ||
| Q3 24 | 1.48× | 3.42× | ||
| Q2 24 | 2.44× | 2.88× | ||
| Q1 24 | 0.25× | 2.63× |
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 | $158.9M |
| Free Cash FlowOCF − Capex | $61.9M | $149.7M |
| FCF MarginFCF / Revenue | 10.4% | 26.5% |
| Capex IntensityCapex / Revenue | 0.7% | 1.6% |
| Cash ConversionOCF / Net Profit | 2.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.6M | $737.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.2M | $158.9M | ||
| Q3 25 | $-67.6M | $191.2M | ||
| Q2 25 | $52.6M | $205.3M | ||
| Q1 25 | $-41.9M | $206.6M | ||
| Q4 24 | $47.4M | $178.9M | ||
| Q3 24 | $-143.5M | $-1.6M | ||
| Q2 24 | $81.7M | $175.6M | ||
| Q1 24 | $-35.8M | $208.7M |
| Q4 25 | $61.9M | $149.7M | ||
| Q3 25 | $-71.3M | $186.9M | ||
| Q2 25 | $49.5M | $199.0M | ||
| Q1 25 | $-44.7M | $202.0M | ||
| Q4 24 | $44.4M | $176.6M | ||
| Q3 24 | $-147.5M | $-4.9M | ||
| Q2 24 | $79.1M | $169.4M | ||
| Q1 24 | $-39.0M | $202.1M |
| Q4 25 | 10.4% | 26.5% | ||
| Q3 25 | -26.0% | 33.0% | ||
| Q2 25 | 21.3% | 33.8% | ||
| Q1 25 | -10.7% | 36.1% | ||
| Q4 24 | 7.9% | 29.3% | ||
| Q3 24 | -58.8% | -0.8% | ||
| Q2 24 | 41.1% | 28.0% | ||
| Q1 24 | -9.4% | 34.4% |
| Q4 25 | 0.7% | 1.6% | ||
| Q3 25 | 1.4% | 0.7% | ||
| Q2 25 | 1.3% | 1.1% | ||
| Q1 25 | 0.7% | 0.8% | ||
| Q4 24 | 0.5% | 0.4% | ||
| Q3 24 | 1.6% | 0.6% | ||
| Q2 24 | 1.4% | 1.0% | ||
| Q1 24 | 0.8% | 1.1% |
| Q4 25 | 2.65× | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | — | 4.28× | ||
| Q1 25 | -2.34× | 4.80× | ||
| Q4 24 | 1.10× | 2.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
