# Best Buy Co., Inc. (BBY)

> Source: Nexqual · https://nexqual.com/BBY · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Best Buy Co., Inc. (BBY), nexqual.com/BBY" · informational, not investment advice.

**Price:** USD 99.83 (+6.07% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 94.12 · day 95–99.92 · 52w 55.1–99.92 · market cap $20.9B · NYQ

## Key facts
- Last four reported quarters (through Aug 1, 2026): revenue $42.2B, net income $1.27B (3.0% margin), free cash flow $1.77B (SEC filings).
- Valuation: P/E 16.5x (avg 16.0x at the last 3 fiscal year-ends), EV/EBITDA 7.9x, net cash $1.10B.
- 1 of 80 tracked superinvestors hold BBY (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 7 Form 4 filings, $190M; 6 not under a Rule 10b5-1 plan ($116M); 0 by opportunistic insiders, 7 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 2.96 on a 1–5 scale) (25 analysts), mean target USD 87.85 (range 71–100).
- Total return with dividends: 1Y +27.6% vs S&P 500 +14.9%; 5Y +6.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-24, EPS estimate USD 1.49, revenue estimate $9.89B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $51.8B | $46.3B | $43.5B | $41.5B | $41.7B | $42.2B |
| Gross profit | $11.6B | $9.91B | $9.60B | $9.38B | $9.37B | — |
| Operating income | $3.04B | $1.79B | $1.57B | $1.26B | $1.39B | $1.71B |
| Net income | $2.45B | $1.42B | $1.24B | $927M | $1.07B | $1.27B |
| EPS (diluted) | $9.84 | $6.29 | $5.68 | $4.28 | $5.04 | — |
| Free cash flow | $2.52B | $894M | $675M | $1.39B | $1.26B | $1.77B |
| Gross margin | 22.5% | 21.4% | 22.1% | 22.6% | 22.5% | — |
| Operating margin | 5.9% | 3.9% | 3.6% | 3.0% | 3.3% | 4.1% |
| Net margin | 4.7% | 3.1% | 2.9% | 2.2% | 2.6% | 3.0% |
| Revenue growth | +9.5% | -10.6% | -6.1% | -4.4% | +0.4% | — |
| Cash + short-term investments | — | — | $1.45B | $1.58B | $1.74B | — |
| Total debt | $1.23B | $1.18B | $1.17B | $1.15B | $1.17B | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 1, 2026)
P/E 16.5x · P/S 0.5x · EV/EBITDA 7.9x · EV/Sales 0.5x · P/FCF 11.8x · P/B 6.6x · FCF yield 8.44% · Earnings yield 6.08% · Dividend yield (paid, TTM) 3.84% · Buyback yield (TTM) 0.69% · Net cash $1.10B · EV $19.8B
P/E at fiscal year-ends: Jan 2026 12.9x, Feb 2025 21.0x, Feb 2024 14.2x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold BBY. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Mairs & Power | Mairs & Power Funds | <0.01% | $417K | Reduced -6.7% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
1 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-23 | Scarlett Kathleen | SEVP, CHRO | 116,062 | $10.7M | 50% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
| 2026-09-16 | Schulze Richard M |  | 300,000 | $27.8M | 2.6% | No | Routine (sold in Jun each year 2023–2025; this trade is outside those months) |
| 2026-07-13…2026-07-14 | Schulze Richard M |  | 900,000 | $74.0M | 7.2% | Yes | Routine (sold in Jun each year 2023–2025; this trade is outside those months) |
| 2026-06-25…2026-06-26 | Schulze Richard M |  | 418,601 | $32.7M | 3.2% | No | Routine (sold in Jun each year 2023–2025) |
| 2026-06-15…2026-06-16 | Schulze Richard M |  | 81,399 | $6.4M | 0.6% | No | Routine (sold in Jun each year 2023–2025) |
| 2026-05-29 | Schulze Richard M |  | 500,350 | $38.1M | 3.7% | No | Routine (sold in Jun each year 2023–2025; this trade is outside those months) |
| 2026-05-29 | Watson Mathew | SVP, Controller & CAO | 1,784 | $132K | 7.6% | No | Routine (sold in Mar each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 2.96 on a 1–5 scale), 25 analysts; mean target USD 87.85 (low 71, high 100).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Evercore ISI Group | Target raised | In-Line | $90 → $95 |
| 2026-09-29 | Evercore ISI Group | Target raised | In-Line | $85 → $90 |
| 2026-09-08 | DA Davidson | Downgrade | Buy → Neutral | $95 |
| 2026-08-28 | UBS | Target raised | Neutral | $86 → $90 |
| 2026-08-28 | Barclays | Target raised | Equal-Weight | $77 → $85 |
| 2026-08-28 | Morgan Stanley | Target raised | Equal-Weight | $80 → $90 |
| 2026-08-28 | DA Davidson | Target raised | Buy | $90 → $95 |
| 2026-08-28 | Guggenheim | Target raised | Buy | $90 → $95 |
| 2026-08-28 | Goldman Sachs | Target raised | Sell | $62 → $71 |
| 2026-08-20 | Piper Sandler | Target raised | Neutral | $77 → $85 |
| 2026-08-13 | Citigroup | Target raised | Neutral | $79 → $88 |
| 2026-08-11 | Wells Fargo | Target raised | Equal-Weight | $65 → $85 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +27.6% | +6.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +27.7% | +1.3% |
| Volatility (annualized) | 37.5% | 37.7% |
| Max drawdown | -32.0% (Oct 2025→May 2026) | -51.6% (Nov 2021→Sep 2022) |

## Peers (Specialty Retail)
TSCO (Tractor Supply Company) USD 34.73 +6.24% · CASY (Caseys General Stores, Inc.) USD 713.65 +2.66% · ULTA (Ulta Beauty, Inc.) USD 635.01 +4.62% · DKS (Dick's Sporting Goods Inc) USD 148.78 +4.80% · GME (GameStop Corporation) USD 25.39 -3.42% · WSM (Williams-Sonoma, Inc.) USD 260.8 +2.95%

## More
Full page: https://nexqual.com/BBY · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in BBY's own 10-K filed 2026-03-18 (https://www.sec.gov/Archives/edgar/data/764478/000076447826000009/bby-20260131.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Apple (AAPL) | "In fiscal 2026, our 20 largest suppliers accounted for approximately 80% of the merchandise we purchased, with five suppliers – Apple, Samsung, HP, LG and Sony – representing approximately 55% of total merchandise purcha…" |
| Supplier | Samsung Electronics | "In fiscal 2026, our 20 largest suppliers accounted for approximately 80% of the merchandise we purchased, with five suppliers – Apple, Samsung, HP, LG and Sony – representing approximately 55% of total merchandise purcha…" |
| Supplier | Sony (SONY) | "In fiscal 2026, our 20 largest suppliers accounted for approximately 80% of the merchandise we purchased, with five suppliers – Apple, Samsung, HP, LG and Sony – representing approximately 55% of total merchandise purcha…" |

Other companies that name BBY in their own reports (relationship from BBY's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | ALLIANCE ENTERTAINMENT HOLDING CORP (AENT) | 10-K 2026-09-10 | "Alliance primarily serviced Barnes & Noble, Best Buy, and hundreds of independent retailers." |
| partner | Niu Technologies (NIU) | 20-F 2026-04-17 | "To elevate our global brand recognition, we expanded our retail presence through strategic partnerships with premier retail brands such as Best Buy in the United States and MediaMarkt in Europe." |
| partner | OOMA INC (OOMA) | 10-K 2026-04-03 | "A significant portion of our Ooma Residential and Ooma Business product sales are made through a combination of direct sales and sales through leading retailers such as Amazon, Costco.com, Best Buy an…" |
| partner | Lovesac Co (LOVE) | 10-K 2026-04-02 | "In June 2025, the Company discontinued its partnership with Best Buy, resulting in the closure of all remaining Best Buy shop-in-shop locations as of February 1, 2026." |
| competitor | GameStop Corp. (GME) | 10-K 2026-03-24 | "In the United States, we compete with Walmart Stores, Inc. ("Walmart"), Target Corporation ("Target"), Best Buy Co., Inc. ("Best Buy") and Amazon.com, Inc. ("Amazon.com"), and other national and speci…" |
| partner | electroCore, Inc. (ECOR) | 10-K 2026-03-19 | "and marketplace partners, including Best Buy and Rehabmart." |
| supplier | Turtle Beach Corp (TBCH) | 10-K 2026-03-12 | "During 2025, our three largest customers - Walmart, Amazon, and Best Buy - each accounted for between 14% to 28% of our consolidated gross sales." |
| partner | Owlet, Inc. (OWLT) | 10-K 2026-03-09 | "Retail Partnerships: Our products are widely available across major U.S. retailers, including Amazon, Baby List, Best Buy." |
| partner | Cricut, Inc. (CRCT) | 10-K 2026-03-04 | "The revenue generated from the sales of our connected machines, subscriptions, accessories, and materials comes from a robust mix of brick-and-mortar and online retail, including direct-to-consumer on…" |
| competitor | NEIGHBORHOOD INTELLIGENCE, INC. (NXH) | 10-K 2026-02-24 | "•traditional general merchandise and specialty retailers and liquidators including Ashley Furniture, Best Buy, Costco, Crate and Barrel, Ethan Allen, Gilt, Home Depot, HomeGoods, Hudson's Bay Company,…" |
| partner | ROKU, INC (ROKU) | 10-K 2026-02-13 | "In the United States, the majority of our products and our licensed Roku TV partners' products are sold through brick and mortar retailers, such as Best Buy, Target, and Walmart, including their onlin…" |
| competitor | NETGEAR, INC. (NTGR) | 10-K 2026-02-13 | "Some of our customers, such as Amazon and Best Buy, may consider this to be competitive with their own businesses, which could negatively influence their purchasing decisions with respect to our produ…" |
| partner | Sonos Inc (SONO) | 10-K 2025-11-14 | "Best Buy, one of our key channel partners, accounted for 14% of our revenue in fiscal 2025." |

## Revenue by business segment (quarter ended 2026-08-01)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Domestic | $9.07B | 92.7% | +4.3% |
| International | $709.0M | 7.3% | -4.2% |
| Total revenue | $9.78B | 100% | — |

## Revenue by product line (quarter ended 2026-08-01)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Computing & Mobile Phones | $4.13B | 42.2% | +6.8% |
| — Consumer Electronics (part of Computing & Mobile Phones) | $2.45B | 25.1% | +5.5% |
| — Appliances (part of Computing & Mobile Phones) | $1.04B | 10.6% | -0.4% |
| — Entertainment (part of Computing & Mobile Phones) | $585.0M | 6.0% | -6.3% |
| — Other (part of Computing & Mobile Phones) | $42.0M | 0.4% | -34.4% |
| Services | $824.0M | 8.4% | +6.3% |
| Total revenue | $9.78B | 100% | — |
The lines above cover 50.6% of total revenue.

## Revenue by region (fiscal year ended 2026-01-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $38.28B | 91.8% | +0.1% |
| Canada | $3.41B | 8.2% | +3.7% |
| Total revenue | $41.69B | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $1.49 | $1.39 | +6.7% | $9.89B | 21 |
| Next quarter (ends 2027-01-31) | $2.59 | $2.55 | +1.7% | $14.06B | 21 |
| Current fiscal year (ends 2027-01-31) | $6.83 | $6.55 | +4.2% | $42.67B | 24 |
| Next fiscal year (ends 2028-01-31) | $7.22 | $7.07 | +2.1% | $43.38B | 23 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-27 (includes earnings 2026-11-24): ±12.2%; earnings reaction alone ±7.2%; last 8 reports averaged ±8.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 41.0% | ±4.9% |
| 2026-11-06 | 14 | 38.8% | ±6.3% |
| 2026-11-13 | 21 | 40.4% | ±7.9% |
| 2026-11-20 | 28 | 40.3% | ±9.1% |
| 2026-11-27 | 35 | 49.0% | ±12.2% |
| 2026-12-04 | 42 | 44.4% | ±12.1% |
| 2026-12-18 | 56 | 43.8% | ±14.0% |
| 2027-01-15 | 84 | 41.3% | ±15.8% |