Does BARNES & NOBLE EDUCATION, INC. have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores BARNES & NOBLE EDUCATION, INC. (BNED) 37.5 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 34, returns on capital 4, balance-sheet safety 100, capital discipline 31.

How has BNED's Moat Score changed over time?

The record logs 2 readings since Jul 17, 2026; the latest reads 37.5 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

BARNES & NOBLE EDUCATION, INC.

BNED · Consumer Discretionary · $433.8M mkt cap · FY2026 filings · No moat ·

Doesn't clear the bar

No moat

The four filters

Pricing power34

Median gross margin 23.7% over 10y, stable.

Returns on capital4

Median ROIC -9.1%, above the 9% hurdle in 10% of years.

Balance-sheet safety100

Net cash position — no leverage risk.

Capital discipline31

Owner earnings +3.7%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $12.60
Discount to value: No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Fundamentals

There's no normalized fundamentals series for BNED yet — it appears once ingest has processed its filings.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale37.5 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — BNED has read No moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Consumer Discretionary context

#230 of 340 scored Consumer Discretionary companies, ranked by Moat Score.

Nearest peers by Moat Score

#228HOG Harley-Davidson, Inc.37.8 out of 100, No moatNo moat
#229AIN ALBANY INTERNATIONAL CORP.37.7 out of 100, No moatNo moat
#231PLCE THE CHILDREN’S PLACE, INC.37.4 out of 100, No moatNo moat
#232BWA BORGWARNER INC37.2 out of 100, No moatNo moat

Compare BNED with its nearest peers →All Consumer Discretionary companies on the Index →

Common questions about BNED

Does BARNES & NOBLE EDUCATION, INC. have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores BARNES & NOBLE EDUCATION, INC. (BNED) 37.5 out of 100 — below the Shallow-moat bar, so no moat. The four filters behind that score (each 0–100): pricing power 34, returns on capital 4, balance-sheet safety 100, capital discipline 31.
How has BNED's Moat Score changed over time?: The record logs 2 readings since Jul 17, 2026; the latest reads 37.5 out of 100 (no moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell BNED. See the disclaimer.