Barnes & Noble (Barnes & Noble) Operating Income : $39 Mil (TTM As of Apr. 2019)

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What is Barnes & Noble Operating Income?

Barnes & Noble's Operating Income for the three months ended in Apr. 2019 was $-20 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Apr. 2019 was $39 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Barnes & Noble's Operating Income for the three months ended in Apr. 2019 was $-20 Mil. Barnes & Noble's Revenue for the three months ended in Apr. 2019 was $755 Mil. Therefore, Barnes & Noble's Operating Margin % for the quarter that ended in Apr. 2019 was -2.61%.

Barnes & Noble's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Barnes & Noble's annualized ROC % for the quarter that ended in Apr. 2019 was -6.41%. Barnes & Noble's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2019 was -21.94%.

Barnes & Noble Operating Income Historical Data

The historical data trend for Barnes & Noble's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Barnes & Noble Operating Income Chart

Barnes & Noble Annual Data

Trend

Apr10

Apr11

Apr12

Apr13

Apr14

Apr15

Apr16

Apr17

Apr18

Apr19

Operating Income

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90.19

14.66

54.66

7.58

38.60

Barnes & Noble Quarterly Data
	Jul14	Oct14	Jan15	Apr15	Jul15	Oct15	Jan16	Apr16	Jul16	Oct16	Jan17	Apr17	Jul17	Oct17	Jan18	Apr18	Jul18	Oct18	Jan19	Apr19
Operating Income	Get a 7-Day Free Trial															-25.54	-16.20	-26.76	101.29	-19.74

Barnes & Noble Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Apr. 2019 adds up the quarterly data reported by the company within the most recent 12 months, which was $39 Mil.

Barnes & Noble (NYSE:BKS) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Barnes & Noble's annualized ROC % for the quarter that ended in Apr. 2019 is calculated as:

	ROC % (Q: Apr. 2019 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jan. 2019 )	+	Invested Capital (Q: Apr. 2019 ))	/ count )
=	-78.948 * ( 1 - 19.02% )	/	( (986.131	+	1009.1)	/ 2 )
=	-63.9320904	/	997.6155
=	-6.41 %

where

	Invested Capital		(Q: Jan. 2019 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1784.149	-	782.155	-	( 15.863	-	max(0, 1021.451	-	1146.593	+	15.863	))
=	986.131

	Invested Capital		(Q: Apr. 2019 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1705.634	-	687.091	-	( 9.443	-	max(0, 902.55	-	1064.211	+	9.443	))
=	1009.1

Note: The Operating Income data used here is four times the quarterly (Apr. 2019) data.

2. Joel Greenblatt's definition of Return on Capital:

Barnes & Noble's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2019 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Apr. 2019 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jan. 2019		Q: Apr. 2019
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-78.948	/	( ( (245.564 + max(109.279, 0))	+	(256.79 + max(108.031, 0)) )	/	2 )
=	-78.948	/	( ( 354.843	+	364.821 )	/	2 )
=	-78.948	/	359.832
=	-21.94 %

where Working Capital is:

	Working Capital		(Q: Jan. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(62.246	+	1000.306	+	68.178)	-	(782.155	+	239.296	+	0)
=	109.279

	Working Capital		(Q: Apr. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(17.06	+	923.714	+	69.807)	-	(687.091	+	215.459	+	0)
=	108.031

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Apr. 2019) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Barnes & Noble's Operating Margin % for the quarter that ended in Apr. 2019 is calculated as:

Operating Margin %	=	Operating Income (Q: Apr. 2019 )	/	Revenue (Q: Apr. 2019 )
	=	-19.737	/	755.433
	=	-2.61 %

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Barnes & Noble Operating Income Related Terms

Thank you for viewing the detailed overview of Barnes & Noble's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Barnes & Noble (Barnes & Noble) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Barnes & Noble Inc (NYSE:BKS) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

122 Fifth Avenue, New York, NY, USA, 10011

Website

http://www.barnesandnobleinc.com

Barnes & Noble is a United States-based company that is mainly engaged in retail of books and products of content, digital media, and educational products. The company operates in a multichannel model, including a physical bookstore network throughout the country, an e-commerce platform on BN.com, and its Nook digital business. The company offers books, magazines, music, DVDs, newspapers, and entertainment content, along with e-reading products under the Nook brand. Retail sales from physical stores and BN.com account for the majority of the company's total revenue.

Executives

Al Ferrara	director	433 LAWNDALE DRIVE, SOUTH SALT LAKE CITY UT 84115
Mark D Carleton	director	12300 LIBERTY BLVD., ENGLEWOOD CO 80112
Scott S Cowen	director	7=6823 ST CHARLES AVE, NEW ORLEANS LA 70118
William Earl Wood	officer: Exec. VP, Pres. of Digital	1901 CAPITAL PARKWAY, AUSTIN TX 78746
George Jr Campbell	director	4 IRVING PLACE, NEW YORK NY 10003
Patricia Higgins	director	11780 U.S. HIGHWAY 1, SUITE 600, PALM BEACH GARDENS FL 33408
Irwin D Simon	director	C/O THE HAIN CELESTIAL GROUP INC., 1111 MARCUS AVENUE, LAKE SUCCESS NY 11042
Leonard Riggio	director, 10 percent owner, officer: Executive Chairman	122 FIFTH AVE, NEW YORK NY 10011
Allen W Lindstrom	officer: Chief Financial Officer	C/O BARNES & NOBLE, INC., 122 FIFTH AVENUE, NEW YORK NY 10011
Bradley A. Feuer	officer: VP, Gen. Counsel & Corp. Secy	C/O BARNES & NOBLE, INC., 122 FIFTH AVENUE, NEW YORK NY 10011
Paul B Guenther	director	C/O GABELLI ASSET MANAGEMENT INC, ONE CORPORATE CENTER, RYE NY 16580
Joseph Charles Gorman	officer: Executive VP, Operations	C/O GNC HOLDINGS, INC. 300 SIXTH AVENUE PITTSBURGH PA 15222
Tim Mantel	officer: Chief Merchandising Officer	C/O BARNES & NOBLE, INC 122 FIFTH AVENUE NEW YORK NY 10011
Carl S Hauch	officer: Vice President, Stores	ADVANCE AUTO PARTS, INC, 5008 AIRPORT RD, ROANOKE VA 24012
Demos Parneros	director, officer: Chief Executive Officer	483 BAY ST, 7TH FL NORTH TOWER, TORONTOON A1 999999999