What is Bath & Body Works, Inc.'s earnings per share (EPS)?

Bath & Body Works, Inc. (BBWI) reported diluted earnings per share of $3.11 for fiscal year 2025. This represents a -13.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Bath & Body Works, Inc. (BBWI) Financials

BBWI

FY2025 annual

Revenue $7.3B -0.2% YoY

Net Income $649.0M -18.7% YoY

EPS (Diluted) $3.11 -13.9% YoY

Free Cash Flow $865.0M +31.1% YoY

Market Cap $3.6B as of Oct 13, 2026

Price / Sales 0.5x on $7.3B revenue, FY2025

Price / Earnings 5.6x on $649.0M net income, FY2025

Price / Book n/m negative shareholder equity, so no book multiple, Q3 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 13, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2027, ended Aug 1, 2026 Reported Aug 26, 2026 Currency USD FYE January

Newest figures come from the 10-Q for Q3 FY2027, filed Aug 26, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BBWI SEC filings page.

Bath & Body Works, Inc. (BBWI) reported $7.3B in revenue for fiscal year 2025, down 0.2% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI BBWI FY2025 2026-10-04

Bath & Body Works remains cash-generative while sales stagnate, but rising overhead and a shrinking liquidity cushion are compressing earnings.

Free cash flow rose to $865M in FY2025 even as net income fell by $149M from FY2024. With capital spending nearly unchanged, that divergence indicates the cash improvement came from stronger operating cash generation and working-capital movement rather than heavier reinvestment.

Revenue was $7.29B in FY2025, nearly unchanged from $7.31B in FY2024; the lack of top-line expansion limits fixed-cost absorption. SG&A increased while operating margin fell to 15.4% from 17.3%, so cost growth—not volume—best explains weaker operating profit.

Debt declined to $3.61B from $3.88B, showing balance-sheet deleveraging even as profitability weakened. Liabilities still exceeded assets, leaving equity at -$1.28B and the current ratio at 1.3x; long-term financing has improved while short-term flexibility has narrowed.

Financial Health Signals

Financial Health Score 56/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Bath & Body Works, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Bath & Body Works, Inc. has an operating margin of 15.4%, meaning the company retains $15 of operating profit per $100 of revenue. This strong profitability earns a score of 80/100, reflecting efficient cost management and pricing power. This is down from 17.3% the prior year.

Growth

Bath & Body Works, Inc.'s revenue declined 0.2% year-over-year, from $7.3B to $7.3B. This contraction results in a growth score of 28/100.

Leverage

Liquidity

Bath & Body Works, Inc.'s current ratio of 1.27 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Bath & Body Works, Inc. converts 11.9% of revenue into free cash flow ($865.0M). This strong cash generation earns a score of 67/100.

Returns

Altman Z-Score Grey Zone

2.22

Bath & Body Works, Inc. scores 2.22, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

5/9

Bath & Body Works, Inc. passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.70x

For every $1 of reported earnings, Bath & Body Works, Inc. generates $1.70 in operating cash flow ($1.1B OCF vs $649.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

4.08x

Bath & Body Works, Inc. earns $4.08 in operating income for every $1 of interest expense ($1.1B vs $276.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.5B

YoY-2.3%

QoQ+9.9%

5Y CAGR-11.1%

10Y CAGR-4.8%

Bath & Body Works, Inc. generated $1.5B in revenue in Q3 2027. This represents a decrease of 2.3% from the same quarter a year earlier. Against the prior quarter it is up 9.9%.

EBITDA

$275.0M

YoY+24.4%

QoQ-5.8%

Bath & Body Works, Inc.'s EBITDA was $275.0M in Q3 2027, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 24.4% from the same quarter a year earlier. Against the prior quarter it is down 5.8%.

Net Income

$118.0M

YoY+84.4%

QoQ-35.5%

5Y CAGR-32.8%

10Y CAGR-3.2%

Bath & Body Works, Inc. reported $118.0M in net income in Q3 2027. This represents an increase of 84.4% from the same quarter a year earlier. Against the prior quarter it is down 35.5%.

EPS (Diluted)

$0.58

YoY+93.3%

QoQ-35.6%

5Y CAGR-28.2%

10Y CAGR+0.5%

Bath & Body Works, Inc. earned $0.58 per diluted share (EPS) in Q3 2027. This represents an increase of 93.3% from the same quarter a year earlier. Against the prior quarter it is down 35.6%.

Cash & Balance Sheet

Free Cash Flow

$23.0M

YoY+123.2%

QoQ-88.2%

5Y CAGR-55.4%

Bath & Body Works, Inc. generated $23.0M in free cash flow in Q3 2027, representing cash available after capex. This represents an increase of 123.2% from the same quarter a year earlier. Against the prior quarter it is down 88.2%.

Cash & Debt

$794.0M

YoY+118.1%

QoQ-3.2%

5Y CAGR-26.0%

10Y CAGR-4.9%

Bath & Body Works, Inc. held $794.0M in cash against $3.4B in long-term debt as of Q3 2027.

Dividends Per Share

$0.20

YoY0.0%

QoQ0.0%

10Y CAGR-8.8%

Bath & Body Works, Inc. paid $0.20 per share in dividends in Q3 2027. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

202M

YoY-2.2%

QoQ0.0%

5Y CAGR-6.3%

10Y CAGR-3.5%

Bath & Body Works, Inc. had 202M shares outstanding in Q3 2027. This represents a decrease of 2.2% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Gross Margin

45.7%

YoY+4.4pp

QoQ+3.1pp

5Y change-6.0pp

10Y change+4.2pp

Bath & Body Works, Inc.'s gross margin was 45.7% in Q3 2027, indicating the percentage of revenue retained after direct costs. This is up 4.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.1 percentage points.

Operating Margin

14.3%

YoY+4.1pp

QoQ-2.5pp

5Y change-17.7pp

10Y change+0.6pp

Bath & Body Works, Inc.'s operating margin was 14.3% in Q3 2027, reflecting core business profitability. This is up 4.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.5 percentage points.

Net Margin

7.8%

YoY+3.7pp

QoQ-5.5pp

5Y change-23.8pp

10Y change+1.2pp

Bath & Body Works, Inc.'s net profit margin was 7.8% in Q3 2027, showing the share of revenue converted to profit. This is up 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 5.5 percentage points.

Return on Equity

Not reported for Q3 2027.

Capital Allocation

Share Buybacks

YoY-100.0%

Bath & Body Works, Inc. repurchased no shares in Q3 2027. This represents a decrease of 100.0% from the same quarter a year earlier.

Capital Expenditures

$49.0M

YoY-12.5%

QoQ0.0%

5Y CAGR+11.8%

10Y CAGR-14.9%

Bath & Body Works, Inc. invested $49.0M in capex in Q3 2027, funding long-term assets and infrastructure. This represents a decrease of 12.5% from the same quarter a year earlier. It is unchanged from the prior quarter.

R&D Spending

Not reported for Q3 2027.

BBWI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BBWI quarterly income statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$7.3B-0.2%	$7.3B-1.6%	$7.4B-1.7%	$7.6B-4.1%	$7.9B+22.5%	$6.4B+19.0%	$5.4B-59.2%	$13.2B+4.8%	$12.6B+0.5%	$12.6B+3.5%	$12.2B+6.1%	$11.5B+6.3%	$10.8B+3.0%	$10.5B+0.9%	$10.4B
Cost of Revenue	$4.1B+0.7%	$4.1B-2.9%	$4.2B-2.6%	$4.3B+6.9%	$4.0B+20.6%	$3.3B+10.6%	$3.0B-63.8%	$8.3B+8.7%	$7.7B+3.0%	$7.4B+7.2%	$7.0B+4.6%	$6.6B+4.8%	$6.3B+4.5%	$6.1B-3.7%	$6.3B
Gross Profit	$3.2B-1.4%	$3.2B-0.1%	$3.2B-0.6%	$3.3B-15.6%	$3.9B+24.5%	$3.1B+29.7%	$2.4B-51.3%	$4.9B-1.2%	$5.0B-3.2%	$5.1B-1.5%	$5.2B+8.2%	$4.8B+8.6%	$4.4B+1.0%	$4.4B+8.1%	$4.1B
SG&A Expenses	$2.1B+4.8%	$2.0B+0.9%	$2.0B+3.8%	$1.9B+1.8%	$1.8B+23.7%	$1.5B+10.8%	$1.3B-62.2%	$3.6B+10.3%	$3.2B+3.5%	$3.1B+3.7%	$3.0B+5.5%	$2.9B+6.3%	$2.7B-1.3%	$2.7B+0.8%	$2.7B
Operating Income	$1.1B-11.1%	$1.3B-1.5%	$1.3B-6.6%	$1.4B-31.5%	$2.0B+25.2%	$1.6B+54.2%	$1.0B-15.9%	$1.2B-28.4%	$1.7B-13.7%	$2.0B-8.6%	$2.2B+12.2%	$2.0B+12.0%	$1.7B+10.8%	$1.6B+27.1%	$1.2B
EBITDA	$1.4B-10.9%	$1.5B-0.4%	$1.6B-2.7%	$1.6B-32.7%	$2.4B+11.6%	$2.1B+30.5%	$1.6B-8.7%	$1.8B-20.8%	$2.3B-9.0%	$2.5B-5.1%	$2.6B+10.9%	$2.4B+11.4%	$2.1B+9.5%	$1.9B+20.9%	$1.6B
Interest Expense	$276.0M-11.5%	$312.0M-9.6%	$345.0M-0.9%	$348.0M-10.3%	$388.0M-10.2%	$432.0M+16.8%	$370.0M-3.9%	$385.0M-5.2%	$406.0M+3.0%	$394.0M+18.0%	$334.0M+3.1%	$324.0M+3.2%	$314.0M-0.6%	$316.0M+28.5%	$246.0M
Income Tax	$233.0M+1.3%	$230.0M+60.8%	$143.0M-43.0%	$251.0M-27.9%	$348.0M+35.4%	$257.0M+73.6%	$148.0M-30.5%	$213.0M-35.3%	$329.0M-38.8%	$538.0M-21.0%	$681.0M+14.6%	$594.0M+9.4%	$543.0M+2.8%	$528.0M+40.1%	$377.0M
Net Income	$649.0M-18.7%	$798.0M-9.1%	$878.0M+9.8%	$800.0M-40.0%	$1.3B+57.9%	$844.0M+330.6%	-$366.0M-156.8%	$644.0M-34.5%	$983.0M-15.1%	$1.2B-7.6%	$1.3B+20.2%	$1.0B+15.4%	$903.0M+19.9%	$753.0M-11.4%	$850.0M
EPS (Basic)	$3.12-13.8%	$3.62-6.2%	$3.86+11.9%	$3.45-30.4%	$4.96+63.2%	$3.04+328.6%	-$1.33-157.1%	$2.33-32.7%	$3.46-14.4%	$4.04-6.0%	$4.30+20.4%	$3.57+14.4%	$3.12+20.0%	$2.60-7.1%	$2.80
EPS (Diluted)	$3.11-13.9%	$3.61-6.0%	$3.84+12.0%	$3.43-29.7%	$4.88+62.7%	$3.00+327.3%	-$1.32-157.1%	$2.31-32.5%	$3.42-14.1%	$3.98-5.7%	$4.22+20.6%	$3.50+14.8%	$3.05+20.1%	$2.54-5.9%	$2.70
Diluted Shares (Avg)	209M-5.4%	221M-3.5%	229M-1.7%	233M-14.7%	273M-2.8%	281M+1.1%	278M-0.4%	279M-2.8%	287M-1.4%	291M-2.0%	297M-0.3%	298M+0.7%	296M-0.3%	297M-5.4%	314M

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-K	Q4'2510-Q	Q3'2510-Q
Revenue	$1.5B-2.3%	$1.4B-3.2%	$1.6B-1.0%	$1.5B+1.5%	$1.4B+2.9%	$2.7B-6.1%	$1.6B	$1.5B-2.3%
Cost of Revenue	$822.0M-9.6%	$791.0M+1.7%	$936.0M+2.9%	$909.0M+1.0%	$778.0M0.0%	$1.5B-7.1%	$910.0M	$900.0M+2.3%
Gross Profit	$692.0M+8.1%	$587.0M-9.1%	$658.0M-6.0%	$640.0M+2.2%	$646.0M+6.6%	$1.3B-4.8%	$700.0M	$626.0M-8.2%
SG&A Expenses	$476.0M-1.4%	$356.0M-18.5%	$497.0M+3.1%	$483.0M+9.0%	$437.0M+4.3%	$606.0M-4.9%	$482.0M	$443.0M-3.9%
Operating Income	$216.0M+37.6%	$231.0M+10.5%	$161.0M-26.1%	$157.0M-14.2%	$209.0M+11.8%	$656.0M-4.8%	$218.0M	$183.0M-17.2%
EBITDA	$275.0M+24.4%	$292.0M+7.0%	$224.0M-22.0%	$221.0M-13.0%	$273.0M+5.8%	$734.0M-2.3%	$287.0M	$254.0M-12.7%
Interest Expense	$63.0M-7.4%	$69.0M-2.8%	$68.0M-11.7%	$68.0M-11.7%	$71.0M-13.4%	$87.0M-6.5%	$77.0M	$77.0M-8.3%
Income Tax	$46.0M+48.4%	-$17.0M-141.5%	$26.0M-33.3%	$31.0M+3000.0%	$41.0M+32.3%	$149.0M+238.6%	$39.0M	$1.0M-97.5%
Net Income	$118.0M+84.4%	$183.0M+74.3%	$77.0M-27.4%	$64.0M-57.9%	$105.0M+20.7%	$435.0M-24.1%	$106.0M	$152.0M+27.7%
EPS (Basic)	$0.59+90.3%	$0.91+85.7%	$0.38-22.4%	$0.31-54.4%	$0.49+25.6%	$2.06-19.2%	$0.49	$0.68+30.8%
EPS (Diluted)	$0.58+93.3%	$0.90+83.7%	$0.37-24.5%	$0.30-55.9%	$0.49+28.9%	$2.06-18.6%	$0.49	$0.68+30.8%
Diluted Shares (Avg)	202M-4.3%	202M-6.0%	206M-5.9%	211M-5.4%	215M-4.9%	N/A	219M	223M-2.2%

Not reported in any period shown, so not listed: R&D Expenses.

BBWI Balance Sheet

BBWI quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$5.1B+4.0%	$4.9B-10.8%	$5.5B-0.6%	$5.5B-8.8%	$6.0B-47.9%	$11.6B+14.3%	$10.1B+25.2%	$8.1B-0.7%	$8.1B-0.3%	$8.2B-3.8%	$8.5B+13.6%	$7.5B+4.9%	$7.1B+18.4%	$6.0B-1.5%	$6.1B
Current Assets	$2.0B+10.8%	$1.8B-13.8%	$2.1B-6.7%	$2.3B-24.7%	$3.0B-46.1%	$5.6B+71.9%	$3.2B-0.5%	$3.3B-1.0%	$3.3B-5.0%	$3.5B-16.6%	$4.2B+29.9%	$3.2B+1.6%	$3.1B+42.9%	$2.2B-6.9%	$2.4B
Cash & Equivalents	$953.0M+41.4%	$674.0M-37.8%	$1.1B-12.0%	$1.2B-37.7%	$2.0B-44.5%	$3.6B+138.0%	$1.5B+6.1%	$1.4B-6.7%	$1.5B-21.7%	$1.9B-24.1%	$2.5B+51.6%	$1.7B0.0%	$1.7B+117.5%	$773.0M-17.3%	$935.0M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$699.0M-4.8%	$734.0M+3.4%	$710.0M+0.1%	$709.0M0.0%	$709.0M+24.0%	$572.0M-55.6%	$1.3B+3.1%	$1.2B+0.6%	$1.2B+13.1%	$1.1B-2.3%	$1.1B+8.3%	$1.0B-11.1%	$1.2B+16.0%	$1.0B+0.7%	$997.0M
Accounts Receivable	$180.0M-12.2%	$205.0M-8.5%	$224.0M-0.9%	$226.0M-5.8%	$240.0M+62.2%	$148.0M-51.6%	$306.0M-16.6%	$367.0M+18.4%	$310.0M+5.4%	$294.0M+12.6%	$261.0M+3.6%	$252.0M+3.3%	$244.0M+20.2%	$203.0M-6.9%	$218.0M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$628.0M0.0%	$628.0M0.0%	$628.0M0.0%	$628.0M0.0%	$628.0M0.0%	$628.0M0.0%	$628.0M-53.4%	$1.3B0.0%	$1.3B0.0%	$1.3B+2.3%	$1.3B0.0%	$1.3B0.0%	$1.3B0.0%	$1.3B-0.9%	$1.3B
Total Liabilities	$6.3B+1.5%	$6.3B-11.7%	$7.1B-7.9%	$7.7B+2.1%	$7.5B-38.3%	$12.2B+5.2%	$11.6B+29.7%	$9.0B+0.6%	$8.9B0.0%	$8.9B+1.7%	$8.8B+17.4%	$7.5B-0.5%	$7.5B+6.6%	$7.0B+17.8%	$6.0B
Current Liabilities	$1.6B+29.2%	$1.2B-4.5%	$1.3B-6.5%	$1.4B+6.9%	$1.3B-54.4%	$2.8B+19.1%	$2.4B+19.4%	$2.0B-2.2%	$2.0B+0.8%	$2.0B+7.4%	$1.9B+11.7%	$1.7B-8.1%	$1.8B+18.7%	$1.5B+0.8%	$1.5B
Non-Current Liabilities	$4.8B-5.3%	$5.0B-13.4%	$5.8B-8.2%	$6.3B+1.1%	$6.3B-33.5%	$9.4B+1.7%	$9.3B+32.7%	$7.0B+1.5%	$6.9B-0.2%	$6.9B+0.1%	$6.9B+19.0%	$5.8B+1.9%	$5.7B+3.2%	$5.5B+23.6%	$4.4B
Long-Term Debt	$3.6B-7.0%	$3.9B-11.5%	$4.4B-9.7%	$4.9B+0.2%	$4.9B-23.8%	$6.4B+16.0%	$5.5B-4.4%	$5.7B+0.6%	$5.7B+0.1%	$5.7B-0.3%	$5.7B+21.0%	$4.7B-0.8%	$4.8B+6.3%	$4.5B+28.6%	$3.5B
Total Equity	-$1.3B+7.5%	-$1.4B+14.9%	-$1.6B+26.2%	-$2.2B-45.3%	-$1.5B-129.3%	-$662.0M+55.8%	-$1.5B-72.5%	-$869.0M-15.4%	-$753.0M-3.3%	-$729.0M-181.5%	-$259.0M-1538.9%	$18.0M+104.9%	-$370.0M+63.5%	-$1.0B-840.9%	$137.0M
Retained Earnings	-$1.4B+9.1%	-$1.6B+14.1%	-$1.8B+23.4%	-$2.4B-33.2%	-$1.8B-26.9%	-$1.4B+34.9%	-$2.2B-47.2%	-$1.5B-3.3%	-$1.4B-799.5%	$205.0M-34.9%	$315.0M+35.2%	$233.0M+297.5%	-$118.0M+82.4%	-$672.0M-2900.0%	$24.0M

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-K	Q4'2510-Q	Q3'2510-Q
Total Assets	$5.2B+7.1%	$5.0B+1.7%	$5.0B+0.1%	$4.8B-2.7%	$4.9B-6.5%	$4.9B-10.8%	$5.0B	$4.9B-5.6%
Current Assets	$2.0B+20.2%	$1.9B+4.3%	$1.9B+9.4%	$1.7B+2.4%	$1.8B-5.1%	$1.8B-13.8%	$1.7B	$1.7B-15.0%
Cash & Equivalents	$794.0M+118.1%	$820.0M+28.9%	$236.0M+23.6%	$364.0M-29.2%	$636.0M-25.6%	$674.0M-37.8%	$191.0M	$514.0M+24.8%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$883.0M-9.6%	$782.0M-10.0%	$1.3B+6.2%	$977.0M+13.2%	$869.0M+6.8%	$734.0M+3.4%	$1.2B	$863.0M-28.4%
Accounts Receivable	$154.0M+17.6%	$98.0M-4.9%	$169.0M-15.5%	$131.0M-10.3%	$103.0M-14.9%	$205.0M-8.5%	$200.0M	$146.0M-25.9%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$628.0M0.0%	$628.0M0.0%	$628.0M0.0%	$628.0M0.0%	$628.0M0.0%	$628.0M0.0%	$628.0M	$628.0M0.0%
Total Liabilities	$6.2B-2.4%	$6.1B-3.7%	$6.6B-2.2%	$6.4B-4.6%	$6.3B-8.2%	$6.3B-11.7%	$6.7B	$6.7B-9.5%
Current Liabilities	$1.7B+31.0%	$1.4B+6.4%	$1.6B-1.4%	$1.3B-13.0%	$1.3B+6.0%	$1.2B-4.5%	$1.6B	$1.5B+6.2%
Non-Current Liabilities	$4.5B-11.0%	$4.7B-6.3%	$5.0B-2.5%	$5.1B-2.1%	$5.0B-11.3%	$5.0B-13.4%	$5.2B	$5.2B-13.2%
Long-Term Debt	$3.4B-13.4%	$3.6B-7.0%	$3.9B+0.2%	$3.9B+0.2%	$3.9B-9.2%	$3.9B-11.5%	$3.9B	$3.9B-13.7%
Total Equity	-$1.1B+31.8%	-$1.1B+21.9%	-$1.6B+8.9%	-$1.5B+9.9%	-$1.5B+13.5%	-$1.4B+14.9%	-$1.7B	-$1.7B+19.1%
Retained Earnings	-$1.2B+29.3%	-$1.3B+20.9%	-$1.8B+9.7%	-$1.7B+10.5%	-$1.6B+13.6%	-$1.6B+14.1%	-$1.9B	-$1.9B+17.6%

BBWI Cash Flow Statement

BBWI quarterly cash flow statement

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$1.1B+24.4%	$886.0M-7.1%	$954.0M-16.6%	$1.1B-23.3%	$1.5B-26.8%	$2.0B+65.0%	$1.2B-10.2%	$1.4B-2.1%	$1.4B-29.3%	$2.0B-1.8%	$2.0B+13.5%	$1.8B+43.1%	$1.2B-7.6%	$1.4B+6.7%	$1.3B
Depreciation & Amortization	$254.0M-9.9%	$282.0M+4.8%	$269.0M+21.7%	$221.0M-39.1%	$363.0M-30.3%	$521.0M-11.4%	$588.0M+7.5%	$547.0M+4.4%	$524.0M+11.0%	$472.0M+13.7%	$415.0M+4.3%	$398.0M+8.2%	$368.0M+4.0%	$354.0M-0.6%	$356.0M
Stock-Based Compensation	$31.0M-22.5%	$40.0M-7.0%	$43.0M+13.2%	$38.0M-17.4%	$46.0M-8.0%	$50.0M-42.5%	$87.0M-10.3%	$97.0M-4.9%	$102.0M+6.3%	$96.0M-1.0%	$97.0M+7.8%	$90.0M+5.9%	$85.0M+16.4%	$73.0M+43.1%	$51.0M
Capital Expenditures	$237.0M+4.9%	$226.0M-24.2%	$298.0M-9.1%	$328.0M+21.5%	$270.0M+18.4%	$228.0M-50.2%	$458.0M-27.2%	$629.0M-11.0%	$707.0M-28.6%	$990.0M+36.2%	$727.0M+1.7%	$715.0M+3.5%	$691.0M+17.5%	$588.0M+38.0%	$426.0M
Free Cash Flow	$865.0M+31.1%	$660.0M+0.6%	$656.0M-19.6%	$816.0M-33.2%	$1.2B-32.5%	$1.8B+132.8%	$778.0M+4.0%	$748.0M+7.0%	$699.0M-30.1%	$1.0B-23.1%	$1.3B+21.4%	$1.1B+92.3%	$557.0M-27.0%	$763.0M-9.2%	$840.0M
Investing Cash Flow	-$227.0M-40.1%	-$162.0M+43.4%	-$286.0M+12.8%	-$328.0M-26.6%	-$259.0M-18.3%	-$219.0M+54.4%	-$480.0M+21.2%	-$609.0M+12.8%	-$698.0M+16.2%	-$833.0M-88.0%	-$443.0M+36.6%	-$699.0M-6.7%	-$655.0M-23.4%	-$531.0M-135.0%	-$226.0M
Financing Cash Flow	-$599.0M+47.1%	-$1.1B-38.9%	-$815.0M+47.8%	-$1.6B+51.0%	-$3.2B-622.6%	$610.0M+191.6%	-$666.0M+23.6%	-$872.0M+22.6%	-$1.1B+36.1%	-$1.8B-146.5%	-$716.0M+22.1%	-$919.0M-696.8%	$154.0M+115.7%	-$982.0M+20.6%	-$1.2B
Dividends Paid	$167.0M-5.6%	$177.0M-2.7%	$182.0M-2.2%	$186.0M+55.0%	$120.0M+44.6%	$83.0M-75.0%	$332.0M-50.2%	$666.0M-2.9%	$686.0M-45.9%	$1.3B+8.3%	$1.2B+69.5%	$691.0M+98.0%	$349.0M-75.9%	$1.4B+26.7%	$1.1B
Share Buybacks	$401.0M0.0%	$401.0M+170.9%	$148.0M-88.7%	$1.3B-33.2%	$2.0B	$0	$0-100.0%	$198.0M-55.6%	$446.0M+2.5%	$435.0M-9.9%	$483.0M+455.2%	$87.0M+45.0%	$60.0M-90.5%	$629.0M-47.1%	$1.2B

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-K	Q4'2510-Q	Q3'2510-Q
Operating Cash Flow	$72.0M+267.4%	$244.0M+29.8%	$80.0M+180.8%	-$43.0M+6.5%	$188.0M+147.4%	$955.0M+3.1%	-$99.0M	-$46.0M+6.1%
Depreciation & Amortization	$59.0M-7.8%	$61.0M-4.7%	$63.0M-8.7%	$64.0M-9.9%	$64.0M-9.9%	$71.0M+1.4%	$69.0M	$71.0M+1.4%
Stock-Based Compensation	N/A	$8.0M-20.0%	N/A	N/A	$10.0M-16.7%	N/A	N/A	N/A
Capital Expenditures	$49.0M-12.5%	$49.0M+32.4%	$81.0M+24.6%	$56.0M+1.8%	$37.0M-19.6%	$60.0M+25.0%	$65.0M	$55.0M-23.6%
Free Cash Flow	$23.0M+123.2%	$195.0M+29.1%	-$1.0M+99.4%	-$99.0M+2.0%	$151.0M+403.3%	$895.0M+1.9%	-$164.0M	-$101.0M+16.5%
Investing Cash Flow	-$47.0M+16.1%	-$42.0M-7.7%	-$72.0M+2.7%	-$56.0M-1033.3%	-$39.0M+15.2%	-$48.0M-2.1%	-$74.0M	$6.0M+109.5%
Financing Cash Flow	-$49.0M+71.8%	-$335.0M-78.2%	-$135.0M+10.0%	-$174.0M+42.2%	-$188.0M+27.4%	-$422.0M-104.9%	-$150.0M	-$301.0M-13.2%
Dividends Paid	$40.0M-7.0%	$40.0M-4.8%	$41.0M-6.8%	$43.0M-4.4%	$42.0M-6.7%	$43.0M-4.4%	$44.0M	$45.0M0.0%
Share Buybacks	$0-100.0%	$0-100.0%	$90.0M-10.9%	$118.0M-22.4%	$136.0M+41.7%	$52.0M+6.1%	$101.0M	$152.0M+198.0%

BBWI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

BBWI quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	43.7%-0.5pp	44.3%+0.7pp	43.6%+0.5pp	43.1%-5.8pp	48.9%+0.8pp	48.1%+4.0pp	44.2%+7.2pp	37.0%-2.3pp	39.3%-1.5pp	40.8%-2.1pp	42.8%+0.8pp	42.0%+0.9pp	41.1%-0.8pp	41.9%+2.8pp	39.1%
Operating Margin	15.4%-1.9pp	17.3%0.0pp	17.3%-0.9pp	18.2%-7.3pp	25.5%+0.6pp	24.9%+5.7pp	19.2%+9.9pp	9.3%-4.3pp	13.7%-2.2pp	15.9%-2.1pp	18.0%+1.0pp	17.1%+0.9pp	16.2%+1.1pp	15.0%+3.1pp	11.9%
Net Margin	8.9%-2.0pp	10.9%-0.9pp	11.8%+1.2pp	10.6%-6.3pp	16.9%+3.8pp	13.1%+19.9pp	-6.8%-11.6pp	4.9%-2.9pp	7.8%-1.4pp	9.2%-1.1pp	10.3%+1.2pp	9.1%+0.7pp	8.4%+1.2pp	7.2%-1.0pp	8.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	5788.9%	N/A	N/A	620.4%
Return on Assets	12.8%-3.6pp	16.4%+0.3pp	16.1%+1.5pp	14.6%-7.6pp	22.1%+14.8pp	7.3%+10.9pp	-3.6%-11.6pp	8.0%-4.1pp	12.1%-2.1pp	14.2%-0.6pp	14.8%+0.8pp	13.9%+1.3pp	12.7%+0.2pp	12.5%-1.4pp	13.9%
Current Ratio	1.27-0.2x	1.48-0.2x	1.640.0x	1.64-0.7x	2.33+0.4x	1.97+0.6x	1.37-0.3x	1.640.0x	1.62-0.1x	1.72-0.5x	2.22+0.3x	1.91+0.2x	1.73+0.3x	1.43-0.1x	1.55
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	262.33	N/A	N/A	25.41
Asset Turnover	1.44-0.1x	1.50+0.1x	1.360.0x	1.38+0.1x	1.31+0.8x	0.560.0x	0.53-1.1x	1.64+0.1x	1.550.0x	1.54+0.1x	1.43-0.1x	1.530.0x	1.51-0.2x	1.740.0x	1.70
FCF Margin	11.9%+2.8pp	9.0%+0.2pp	8.8%-2.0pp	10.8%-4.7pp	15.5%-12.6pp	28.1%+13.8pp	14.4%+8.7pp	5.7%+0.1pp	5.5%-2.4pp	8.0%-2.7pp	10.7%+1.3pp	9.3%+4.2pp	5.2%-2.1pp	7.3%-0.8pp	8.1%

Metric	Q3'2710-Q	Q2'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-K	Q4'2510-Q	Q3'2510-Q
Gross Margin	45.7%+4.4pp	42.6%-2.8pp	41.3%-2.2pp	41.3%+0.3pp	45.4%+1.6pp	45.9%+0.6pp	43.5%	41.0%-2.6pp
Operating Margin	14.3%+4.1pp	16.8%+2.1pp	10.1%-3.4pp	10.1%-1.9pp	14.7%+1.2pp	23.9%+0.3pp	13.5%	12.0%-2.2pp
Net Margin	7.8%+3.7pp	13.3%+5.9pp	4.8%-1.7pp	4.1%-5.8pp	7.4%+1.1pp	15.8%-3.8pp	6.6%	10.0%+2.3pp
Return on Assets	2.3%+1.0pp	3.7%+1.5pp	1.5%-0.6pp	1.3%-1.7pp	2.1%+0.5pp	8.9%-1.6pp	2.1%	3.1%+0.8pp
Current Ratio	1.20-0.1x	1.380.0x	1.21+0.1x	1.31+0.2x	1.41-0.2x	1.48-0.2x	1.09	1.11-0.3x
Asset Turnover	0.290.0x	0.280.0x	0.320.0x	0.320.0x	0.290.0x	0.560.0x	0.32	0.310.0x
FCF Margin	1.5%+7.9pp	14.1%+3.5pp	-0.1%+10.1pp	-6.4%+0.2pp	10.6%+8.4pp	32.6%+2.5pp	-10.2%	-6.6%+1.1pp

Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity.

Note: Shareholder equity is negative (-$1.3B), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Bath & Body Works, Inc. BBWI	FY2025	$7.3B	$649.0M	8.9%	$3.6B	56/100
MURPHY USA INC. MUSA	FY2025	$19.4B	$470.6M	2.4%	$9.7B	40/100
RH RH	FY2025	$3.4B	$124.8M	3.6%	$2.2B	43/100
Five Below, Inc. FIVE	FY2025	$4.8B	$358.6M	7.5%	$11.8B	62/100
Academy Sports and Outdoors, Inc. ASO	FY2025	$6.1B	$376.8M	6.2%	$3.3B	57/100

Where Bath & Body Works, Inc. Ranks

Frequently Asked Questions

What is Bath & Body Works, Inc.'s annual revenue?

Bath & Body Works, Inc. (BBWI) reported $7.3B in total revenue for fiscal year 2025. This represents a -0.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Bath & Body Works, Inc.'s revenue growing?

Bath & Body Works, Inc. (BBWI) revenue declined by 0.2% year-over-year, from $7.3B to $7.3B in fiscal year 2025.

Is Bath & Body Works, Inc. profitable?

Yes, Bath & Body Works, Inc. (BBWI) reported a net income of $649.0M in fiscal year 2025, with a net profit margin of 8.9%.

What is Bath & Body Works, Inc.'s EBITDA?

Bath & Body Works, Inc. (BBWI) had EBITDA of $1.4B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Bath & Body Works, Inc. have?

As of fiscal year 2025, Bath & Body Works, Inc. (BBWI) had $953.0M in cash and equivalents against $3.6B in long-term debt.

What is Bath & Body Works, Inc.'s gross margin?

Bath & Body Works, Inc. (BBWI) had a gross margin of 43.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Bath & Body Works, Inc.'s operating margin?

Bath & Body Works, Inc. (BBWI) had an operating margin of 15.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Bath & Body Works, Inc.'s net profit margin?

Bath & Body Works, Inc. (BBWI) had a net profit margin of 8.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Bath & Body Works, Inc. pay dividends?

Yes, Bath & Body Works, Inc. (BBWI) paid $0.80 per share in dividends during fiscal year 2025.

What is Bath & Body Works, Inc.'s free cash flow?

Bath & Body Works, Inc. (BBWI) generated $865.0M in free cash flow during fiscal year 2025. This represents a 31.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Bath & Body Works, Inc.'s operating cash flow?

Bath & Body Works, Inc. (BBWI) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Bath & Body Works, Inc.'s total assets?

Bath & Body Works, Inc. (BBWI) had $5.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Bath & Body Works, Inc.'s capital expenditures?

Bath & Body Works, Inc. (BBWI) invested $237.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Bath & Body Works, Inc. buy back shares?

Yes, Bath & Body Works, Inc. (BBWI) spent $401.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Bath & Body Works, Inc. have outstanding?

Bath & Body Works, Inc. (BBWI) had 201M shares outstanding as of fiscal year 2025.

What is Bath & Body Works, Inc.'s current ratio?

Bath & Body Works, Inc. (BBWI) had a current ratio of 1.27 as of fiscal year 2025, which is considered adequate.

What is Bath & Body Works, Inc.'s return on assets (ROA)?

Bath & Body Works, Inc. (BBWI) had a return on assets of 12.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Bath & Body Works, Inc.'s P/E ratio?

Bath & Body Works, Inc. (BBWI) trades at 5.6x earnings, its market capitalization divided by net income of $649.0M net income, FY2025. The market capitalization is $3.6B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Bath & Body Works, Inc.'s price-to-sales ratio?

Bath & Body Works, Inc. (BBWI) trades at 0.5x sales, its market capitalization divided by revenue of $7.3B revenue, FY2025. The market capitalization is $3.6B as of Oct 13, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

Why is Bath & Body Works, Inc.'s debt-to-equity ratio negative or not reported?

Bath & Body Works, Inc. (BBWI) has negative shareholder equity of -$1.3B as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Bath & Body Works, Inc.'s Altman Z-Score?

Bath & Body Works, Inc. (BBWI) has an Altman Z-Score of 2.22, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Bath & Body Works, Inc.'s Piotroski F-Score?

Bath & Body Works, Inc. (BBWI) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Bath & Body Works, Inc.'s earnings high quality?

Bath & Body Works, Inc. (BBWI) has an earnings quality ratio of 1.70x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Bath & Body Works, Inc. cover its interest payments?

Bath & Body Works, Inc. (BBWI) has an interest coverage ratio of 4.08x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Bath & Body Works, Inc.?

Bath & Body Works, Inc. (BBWI) scores 56 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.