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Held by 857 of 6,047 reporting institutions (98th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 6 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WSM | $28.3B | 27.1× | 16.5× | 3.6× | 1.2% | 46.2% | 13.9% | 52.3% | 52.3% | -0.6× | 978 |
| BBY | $18.4B | 17.4× | 7.5× | 0.4× | 0.4% | 22.5% | 2.6% | 36.1% | 36.1% | -0.8× | 857 |
| GME | $13.7B | 35.4× | 46.1× | 3.8× | -5.1% | 33.0% | 11.5% | 7.7% | 4.4% | -8.5× | 390 |
| RH | $2.2B | 18.4× | 9.7× | 0.6× | 8.1% | 44.1% | 3.6% | 206% | 5.1% | 5.0× | 373 |
| ARHS | $1.4B | 20.0× | 8.2× | 1.0× | 8.5% | 38.9% | 4.9% | 16.1% | 16.1% | -1.9× | 163 |
| LOVE | $210M | 52.1× | 5.4× | 0.3× | 2.4% | 56.4% | 0.6% | 1.9% | 1.9% | -5.0× | 121 |
| HTLM | $157M | 9.7× | 7.0× | 0.4× | 12.8% | 27.9% | 4.4% | 59.5% | 43.3% | -0.8× | 1 |
Peers = companies sharing BBY's sector (Retail-Radio, Tv & Consumer Electronics Stores) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2024, FY2025, FY2026). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $89.10 today, the market must believe free cash flow compounds 3.1%/yr for a decade (off $1.11B on the 3-yr avg basis).
On the basis ($967.3M) the requirement is 5.0%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 3.1% is more optimistic than its 9-yr track record.
Default is 9.5% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.21B shares (market data) · net debt -$1.74B
mean 10.7% · volatility σ 66% · implied rate exceeded in 4/9 yrs
Central path = implied 3.1%/yr growth; shaded band = ±1σ (66%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 64% of free cash flow, leaving room to grow it and fund buybacks. Last year: $801.0M dividends + $273.0M buybacks = $1.07B returned on $1.26B FCF.
8 consecutive years of dividend increases · 10%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: 36%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.58B covers all $0 of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2025-02-01 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit.
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-14
Earns 9.15pts above its cost of capital, positive in 5 of the last 5 years.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | 24.0% | 4.7% | 3.1% |
| FY2018 | 23.4% | 4.4% | 2.4% |
| FY2019 | 23.2% | 4.4% | 3.4% |
| FY2020 | 23.0% | 4.6% | 3.5% |
| FY2021 | 22.4% | 5.1% | 3.8% |
| FY2022 | 22.5% | 5.9% | 4.7% |
| FY2023 | 21.4% | 3.9% | 3.1% |
| FY2024 | 22.1% | 3.6% | 2.9% |
| FY2025 | 22.6% | 3.0% | 2.2% |
| FY2026 | 22.5% | 3.3% | 2.6% |
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 36% against ROIC 36% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 76.8 | 77.0 | 77.6 | 77.5 | 78.6 | 77.9 | 77.4 | 77.5 |
| Gross Profit | 23.2 | 23.0 | 22.4 | 22.5 | 21.4 | 22.1 | 22.6 | 22.5 |
| SG&A | 18.7 | 18.3 | 16.8 | 16.7 | 17.2 | 18.1 | 18.4 | 18.3 |
| Operating Income | 4.4 | 4.6 | 5.1 | 5.9 | 3.9 | 3.6 | 3.0 | 3.3 |
| Income Tax | 1.0 | 1.0 | 1.2 | 1.1 | 0.8 | 0.9 | 0.9 | 0.8 |
| Net Income | 3.4 | 3.5 | 3.8 | 4.7 | 3.1 | 2.9 | 2.2 | 2.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on BBY: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
EOD close · as of 2026-10-14
How a revenue dollar becomes profit — FY2026
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $41.69B 100.0% | $41.53B 100.0% | $43.45B 100.0% | $46.30B 100.0% | $51.76B 100.0% | $47.26B 100.0% | $43.64B 100.0% | $42.88B 100.0% | $42.15B 100.0% | $39.40B 100.0% |
| Cost of Revenue | $32.32B 77.5% | $32.14B 77.4% | $33.85B 77.9% | $36.39B 78.6% | $40.12B 77.5% | $36.69B 77.6% | $33.59B 77.0% | $32.92B 76.8% | $32.27B 76.6% | $29.96B 76.0% |
| Cost of Products | — | — | — | — | — | — | — | — | $32.27B 76.6% | $29.96B 76.0% |
| Gross Profit | $9.37B 22.5% | $9.38B 22.6% | $9.60B 22.1% | $9.91B 21.4% | $11.64B 22.5% | $10.57B 22.4% | $10.05B 23.0% | $9.96B 23.2% | $9.88B 23.4% | $9.44B 24.0% |
| Selling, General & Admin | $7.62B 18.3% | $7.65B 18.4% | $7.88B 18.1% | $7.97B 17.2% | $8.63B 16.7% | $7.93B 16.8% | $8.00B 18.3% | $8.02B 18.7% | $8.02B 19.0% | $7.55B 19.2% |
| Operating Income | $1.39B 3.3% | $1.26B 3.0% | $1.57B 3.6% | $1.79B 3.9% | $3.04B 5.9% | $2.39B 5.1% | $2.01B 4.6% | $1.90B 4.4% | $1.84B 4.4% | $1.85B 4.7% |
| Interest Expense | $47.0M 0.1% | $51.0M 0.1% | $52.0M 0.1% | $35.0M 0.1% | $25.0M 0.0% | $52.0M 0.1% | $64.0M 0.1% | $73.0M 0.2% | $75.0M 0.2% | $72.0M 0.2% |
| Pretax Income | $1.40B 3.4% | $1.29B 3.1% | $1.62B 3.7% | $1.79B 3.9% | $3.02B 5.8% | $2.38B 5.0% | $1.99B 4.6% | $1.89B 4.4% | $1.82B 4.3% | $1.82B 4.6% |
| Income Tax Expense | $337.0M 0.8% | $372.0M 0.9% | $381.0M 0.9% | $370.0M 0.8% | $574.0M 1.1% | $579.0M 1.2% | $452.0M 1.0% | $424.0M 1.0% | $818.0M 1.9% | $609.0M 1.5% |
| Net Income | $1.07B 2.6% | $927.0M 2.2% | $1.24B 2.9% | $1.42B 3.1% | $2.45B 4.7% | $1.80B 3.8% | $1.54B 3.5% | $1.46B 3.4% | $1.00B 2.4% | $1.23B 3.1% |
| Per Share | ||||||||||
| EPS (Basic) | $5.06 | $4.31 | $5.70 | $6.31 | $9.94 | $6.93 | $5.82 | $5.30 | $3.33 | $3.86 |
| EPS (Diluted) | $5.04 | $4.28 | $5.68 | $6.29 | $9.84 | $6.84 | $5.75 | $5.20 | $3.26 | $3.81 |
| Weighted Avg Shares (Basic) | 211.0M | 215.2M | 217.7M | 224.8M | 246.8M | 259.6M | 264.9M | 276.4M | 300.4M | 318.5M |
| Weighted Avg Shares (Diluted) | 212.1M | 216.6M | 218.5M | 225.7M | 249.3M | 263.0M | 268.1M | 281.4M | 307.1M | 322.6M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Return on equity (36%) and return on invested capital (36%) are within a couple of points in FY2026, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
$790M of goodwill — 14% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2020 | 24.1% | 9.5% (today's — no rate published for this year) | 14.5pts |
| FY2021 | 43.0% | 9.5% (today's — no rate published for this year) | 33.5pts |
| FY2022 | 44.5% | 7.2% | 37.3pts |
| FY2023 | 22.8% | 8.9% | 14.0pts |
| FY2024 | 18.1% | 9.1% | 9.0pts |
| FY2025 | 15.3% | 8.2% | 7.2pts |
| FY2026 | 20.5% | 8.7% | 11.8pts |
| Now | 36.1% | 9.5% | 26.5pts |
Converts 0.98x of reported profit into free cash flow over 5 years, with accruals negative.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1.07B | $1.07B |
| Share-based comp | $139M | $1.21B |
| Other non-cash & working capital | $754M | $1.96B |
| Operating cash flow | $1.96B | $1.96B |
| Capex | −$704M | $1.26B |
| Free cash flow | $1.26B | $1.26B |
| FCF after SBC | $1.12B | $1.12B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2021 | 8.3% | not reported | not reported |
| FY2022 | 9.5% | not reported | not reported |
| FY2023 | -10.6% | not reported | not reported |
| FY2024 | -6.2% | not reported | not reported |
| FY2025 | -4.4% | not reported | not reported |
| FY2026 | 0.4% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2020 | -6.6 percent |
| FY2021 | -16.4 percent |
| FY2022 | -4.6 percent |
| FY2023 | -2.6 percent |
| FY2024 | -1.5 percent |
| FY2025 | -7.9 percent |
| FY2026 | -6.1 percent |
Reported free cash flow is $1.26B; after share-based compensation it is $1.12B. The difference is a real cost that the cash flow statement adds back.
Covers interest 20.7x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 29.55x |
| 5% | 28.08x |
| 10% | 26.60x |
| 15% | 25.12x |
| 20% | 23.64x |
| 25% | 22.16x |
| 30% | 20.69x |
| 35% | 19.21x |
| 40% | 17.73x |
| 45% | 16.25x |
| 50% | 14.78x |
| 55% | 13.30x |
| 60% | 11.82x |
This schedule comes from a filing dated 2025-02-01, 620 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2025-02-01 (10-K); cash from the 2025-02-01 balance sheet; FCF from FY2025.
Balance sheet at 2025-02-01. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Operating leases are $2,989,000,000 of the $2,989,000,000 total — a fixed obligation that does not appear in a headline debt figure.
At $87.96, free cash flow must compound 5.18%/yr for 10 years. It has done -5.99%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | 131.3% | 5.2% |
| FY2022 | −40.3% | 5.2% |
| FY2023 | −64.5% | 5.2% |
| FY2024 | −24.5% | 5.2% |
| FY2025 | 106.2% | 5.2% |
| FY2026 | −9.6% | 5.2% |
The implied rate has been matched or beaten in 2 of the last 6 years.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2026) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.