What is Barnes & Noble Education, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on Barnes & Noble Education, Inc.'s reported free cash flow gives $13.65 per share. The share price was $11.33 on September 25, 2026, 17% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | -1.0% | 10.0% | $7.17 | -37% |
| Base | 4.0% | 9.0% | $13.65 | +20% |
| Bull | 9.0% | 8.0% | $25.75 | +127% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $18.26 | $19.66 | $21.36 | $23.50 | $26.25 |
| 8.0% | $14.83 | $15.73 | $16.80 | $18.09 | $19.66 |
| 9.0% | $12.32 | $12.94 | $13.65 | $14.49 | $15.47 |
| 10.0% | $10.40 | $10.84 | $11.34 | $11.91 | $12.57 |
| 11.0% | $8.89 | $9.22 | $9.58 | $9.98 | $10.44 |
Where the presets come from
Base: years 1 to 5 grow at Barnes & Noble Education, Inc.'s revenue growth rate over the last 5 fiscal years (4.0% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions