BBYBEST BUY CO INC
Retail-Radio, Tv & Consumer Electronics Stores
- Revenue
- $41.7B
- 0.4% YoY
- Operating margin
- 3.3%
- 9.6% YoY
- EBITDA
- $2.2B
- 4.3% YoY
- Market cap
- $20.1B
- Employees
- 82,000
- $508K revenue each
- Net debt / EBITDA
- -0.5×
- −$1.1B net debt
- AI in 10-K
- 4.0
- mentions per 10K words
Takeover score 4 of 13
Fixable underperformance 2 of 7
- TSR below peersYes5 of 5 years3+ of last 5 years
- High CEO pay despite TSRYes$16M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo184% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo55% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo5% of assetsOver 40% of assets
- Shareholder dissentNo89% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeNo$508K per employeeBottom quartile of its SIC industry
- Quiet on AINo4.0 per 10K words · 78th pctBottom quartile of AI mentions in 10-Ks
- Net cashYesNet cash · 0.5× EBITDAMore cash than debt, positive EBITDA
- Buyout-sizedNo$20.1B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$195M netNet sales over $10M in 12 months
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $51.8B | $46.3B | $43.5B | $41.5B | $41.7B | 0.4% |
| Operating income | $3.0B | $1.8B | $1.6B | $1.3B | $1.4B | 10% |
| Net income | $2.5B | $1.4B | $1.2B | $927M | $1.1B | 15% |
| Operating cash flow | $3.3B | $1.8B | $1.5B | $2.1B | $2.0B | 6.5% |
| Capex | $737M | $930M | $795M | $706M | $704M | 0.3% |
| Stock-based comp | $141M | $138M | $145M | $139M | $139M | 0.0% |
| Buybacks | $3.5B | $1.0B | $340M | $500M | $273M | 45% |
| Dividends | $688M | $789M | $801M | $807M | $801M | 0.7% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Jun 2, 2026 | SCHULZE RICHARD M | SCHEDULE 13D/A | 6.1% | Passive |
| Jun 11, 2025 | SCHULZE RICHARD M | SCHEDULE 13D/A | 7.2% | Passive |
| Jun 5, 2024 | SCHULZE RICHARD M | SC 13D/A | 8.3% | Passive |
| Jan 20, 2023 | SCHULZE RICHARD M | SC 13D/A | 10.4% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $195M · 26
- Net
- −$195M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2026 | $17M | $3M | 74 | 164 |
| FY2025 | $16M | $20M | 93 | 161 |
| FY2024 | $14M | $9M | 78 | 115 |
| FY2023 | $13M | $3M | 84 | 89 |
| FY2022 | $16M | $9M | 92 | 109 |