Bath & Body Works (BBWI) Financials

$30.50 -0.33 (-1.07%)

As of 03:59 PM Eastern

Annual Income Statements for Bath & Body Works

This table shows Bath & Body Works' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	1,253	1,158	983	644	-366	844	1,333	800	878	798
Consolidated Net Income / (Loss)	1,253	1,158	983	644	-366	844	1,333	800	878	798
Net Income / (Loss) Continuing Operations	1,253	1,158	983	644	460	865	1,075	794	878	798
Total Pre-Tax Income	1,934	1,696	1,312	857	608	1,122	1,423	1,045	1,021	1,028
Total Operating Income	2,192	2,003	1,728	1,237	1,040	1,604	2,009	1,376	1,285	1,266
Total Gross Profit	5,204	5,125	4,959	4,899	2,387	3,096	3,855	3,255	3,236	3,234
Total Revenue	12,154	12,574	12,632	13,237	5,405	6,434	7,882	7,560	7,429	7,307
Operating Revenue	12,154	12,574	12,632	13,237	5,405	6,434	7,882	7,560	7,429	7,307
Total Cost of Revenue	6,950	7,449	7,673	8,338	3,018	3,338	4,027	4,305	4,193	4,073
Operating Cost of Revenue	6,950	7,449	7,673	8,338	3,018	3,338	4,027	4,305	4,193	4,073
Total Operating Expenses	3,012	3,122	3,231	3,662	1,347	1,492	1,846	1,879	1,951	1,968
Selling, General & Admin Expense	3,012	3,122	3,231	3,563	1,347	1,492	1,846	1,879	1,951	1,968
Total Other Income / (Expense), net	-258	-307	-416	-380	-432	-482	-586	-331	-264	-238
Interest Expense	334	394	406	385	370	432	388	348	345	312
Other Income / (Expense), net	76	87	-10	5.00	-62	-50	-198	17	81	74
Income Tax Expense	681	538	329	213	148	257	348	251	143	230
Net Income / (Loss) Discontinued Operations	-	-	-	-	-826	-21	258	6.00	0.00	0.00
Basic Earnings per Share	$4.30	$4.04	$3.46	$2.33	($1.33)	$3.04	$4.96	$3.45	$3.86	$3.62
Weighted Average Basic Shares Outstanding	291M	287M	284M	276M	276.53M	557.63M	238.91M	228.77M	224.90M	214.23M
Diluted Earnings per Share	$4.22	$3.98	$3.42	$2.31	($1.32)	$3.00	$4.88	$3.43	$3.84	$3.61
Weighted Average Diluted Shares Outstanding	291M	287M	284M	276M	276.53M	557.63M	238.91M	228.77M	224.90M	214.23M
Weighted Average Basic & Diluted Shares Outstanding	291M	287M	284M	276M	276.53M	557.63M	238.91M	228.77M	224.90M	214.23M
Cash Dividends to Common per Share	$2.00	$2.40	$2.40	$2.40	$1.20	$0.30	$0.45	$0.80	$0.80	$0.80

This table shows Bath & Body Works' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	91	434	81	99	119	579	87	152	106	453
Consolidated Net Income / (Loss)	91	434	81	99	119	579	87	152	106	453
Net Income / (Loss) Continuing Operations	91	428	81	99	119	579	87	152	106	453
Total Pre-Tax Income	119	576	112	127	159	623	118	153	145	612
Total Operating Income	202	652	181	188	221	695	187	183	218	678
Total Gross Profit	678	1,248	596	622	682	1,336	606	626	700	1,302
Total Revenue	1,604	2,888	1,396	1,559	1,562	2,912	1,384	1,526	1,610	2,787
Operating Revenue	1,604	2,888	1,396	1,559	1,562	2,912	1,384	1,526	1,610	2,787
Total Cost of Revenue	926	1,640	800	937	880	1,576	778	900	910	1,485
Operating Cost of Revenue	926	1,640	800	937	880	1,576	778	900	910	1,485
Total Operating Expenses	476	596	415	434	461	641	419	443	482	624
Selling, General & Admin Expense	476	596	415	434	461	641	419	443	482	624
Total Other Income / (Expense), net	-83	-76	-69	-61	-62	-72	-69	-30	-73	-66
Interest Expense	86	87	89	86	84	86	82	77	77	76
Other Income / (Expense), net	3.00	11	20	25	22	14	13	47	4.00	10
Income Tax Expense	28	148	31	28	40	44	31	1.00	39	159
Basic Earnings per Share	$0.40	$1.90	$0.36	$0.43	$0.52	$2.55	$0.39	$0.68	$0.49	$2.06
Weighted Average Basic Shares Outstanding	228.41M	228.77M	228.91M	227.38M	225.94M	224.90M	223.23M	219.11M	216.58M	214.23M
Diluted Earnings per Share	$0.40	$1.90	$0.35	$0.43	$0.52	$2.54	$0.38	$0.68	$0.49	$2.06
Weighted Average Diluted Shares Outstanding	228.41M	228.77M	228.91M	227.38M	225.94M	224.90M	223.23M	219.11M	216.58M	214.23M
Weighted Average Basic & Diluted Shares Outstanding	228.41M	228.77M	228.91M	227.38M	225.94M	224.90M	223.23M	219.11M	216.58M	214.23M

This table details how cash moves in and out of Bath & Body Works' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	867	-614	-419	-102	86	2,434	-1,954	-747	-148	-410
Net Cash From Operating Activities	2,027	1,990	1,406	1,377	1,236	2,039	1,492	1,144	954	886
Net Cash From Continuing Operating Activities	2,027	1,990	1,406	1,377	1,236	2,039	1,492	1,144	946	886
Net Income / (Loss) Continuing Operations	1,253	1,158	983	644	-366	844	1,333	800	878	798
Consolidated Net Income / (Loss)	1,253	1,158	983	644	-366	844	1,333	800	878	798
Depreciation Expense	457	518	571	590	588	521	363	221	269	282
Non-Cash Adjustments To Reconcile Net Income	21	16	127	297	1,147	264	241	38	9.00	11
Changes in Operating Assets and Liabilities, net	338	344	-228	-111	-133	410	-445	85	-210	-205
Net Cash From Investing Activities	-443	-833	-698	-609	-480	-219	-259	-328	-286	-162
Net Cash From Continuing Investing Activities	-443	-833	-698	-609	-480	-219	-259	-328	-286	-162
Purchase of Property, Plant & Equipment	-727	-990	-707	-629	-458	-228	-270	-328	-298	-226
Sale and/or Maturity of Investments	59	129	-	-	-	-	-	0.00	0.00	40
Other Investing Activities, net	4.00	8.00	9.00	20	-22	9.00	11	0.00	12	24
Net Cash From Financing Activities	-716	-1,765	-1,127	-872	-666	610	-3,188	-1,562	-815	-1,132
Net Cash From Continuing Financing Activities	-716	-1,765	-1,127	-872	-666	610	-3,188	-1,562	-815	-1,132
Repayment of Debt	986	-751	-592	-255	-326	-200	-1,716	2.00	-456	-519
Repurchase of Common Equity	-483	-435	-446	-198	0.00	0.00	-1,964	-1,312	-148	-401
Payment of Dividends	-1,171	-1,268	-686	-666	-332	-83	-120	-186	-182	-177
Other Financing Activities, net	-55	-38	6.00	-17	-20	-57	612	-66	-29	-35
Effect of Exchange Rate Changes	-1.00	-6.00	0.00	2.00	-4.00	4.00	1.00	-1.00	-1.00	-2.00

This table details how cash moves in and out of Bath & Body Works' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-157	937	-186	-256	-378	672	-229	-341	-323	483
Net Cash From Operating Activities	-14	1,077	44	33	-49	926	76	-46	-99	955
Net Cash From Continuing Operating Activities	-14	1,077	44	33	-49	918	76	-46	-99	955
Net Income / (Loss) Continuing Operations	91	434	81	99	119	579	87	152	106	453
Consolidated Net Income / (Loss)	91	434	81	99	119	579	87	152	106	453
Depreciation Expense	56	59	63	66	70	70	71	71	69	71
Non-Cash Adjustments To Reconcile Net Income	11	12	0.00	2.00	-1.00	8.00	13	-27	9.00	16
Changes in Operating Assets and Liabilities, net	-172	572	-100	-134	-237	261	-95	-242	-283	415
Net Cash From Investing Activities	-90	-76	-94	-82	-63	-47	-46	6.00	-74	-48
Net Cash From Continuing Investing Activities	-90	-76	-94	-82	-63	-47	-46	6.00	-74	-48
Purchase of Property, Plant & Equipment	-91	-76	-93	-85	-72	-48	-46	-55	-65	-60
Other Investing Activities, net	1.00	-	-1.00	3.00	9.00	1.00	0.00	11	1.00	12
Net Cash From Financing Activities	-53	-63	-135	-208	-266	-206	-259	-301	-150	-422
Net Cash From Continuing Financing Activities	-53	-63	-135	-208	-266	-206	-259	-301	-150	-422
Repayment of Debt	-6.00	17	-81	-113	-169	-93	-111	-96	-4.00	-308
Repurchase of Common Equity	-	-	0.00	-48	-51	-49	-96	-152	-101	-52
Payment of Dividends	-46	-46	-46	-46	-45	-45	-45	-45	-44	-43
Other Financing Activities, net	-1.00	-34	-8.00	-1.00	-1.00	-19	-7.00	-8.00	-1.00	-19

This table presents Bath & Body Works' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	8,493	8,170	8,149	8,090	10,125	11,571	6,026	5,494	5,463	4,872
Total Current Assets	4,156	3,465	3,293	3,260	3,245	5,579	3,009	2,266	2,115	1,823
Cash & Equivalents	2,548	1,934	1,515	1,413	1,499	3,568	1,979	1,232	1,084	674
Accounts Receivable	261	294	310	367	306	148	240	226	224	205
Inventories, net	1,122	1,096	1,240	1,248	1,287	572	709	709	710	734
Other Current Assets	225	141	228	232	153	52	81	99	97	114
Other Current Nonoperating Assets	-	-	-	-	-	1,239	-	-	0.00	96
Plant, Property, & Equipment, net	2,330	2,741	2,893	2,818	2,486	1,017	1,009	1,193	1,220	1,127
Total Noncurrent Assets	2,007	1,964	1,963	2,012	4,394	4,975	2,008	2,035	2,128	1,922
Goodwill	1,318	1,348	1,348	1,348	628	628	628	628	628	628
Intangible Assets	411	411	411	411	411	165	165	165	165	165
Noncurrent Deferred & Refundable Income Taxes	30	19	14	62	84	58	45	37	144	130
Other Noncurrent Operating Assets	248	186	190	191	3,271	1,143	1,170	1,205	1,191	999
Total Liabilities & Shareholders' Equity	8,493	8,170	8,149	8,090	10,125	11,571	6,026	5,494	5,463	4,872
Total Liabilities	8,751	8,897	8,900	8,955	11,620	12,232	7,543	7,699	7,089	6,255
Total Current Liabilities	1,875	2,014	2,031	1,986	2,372	2,826	1,290	1,379	1,289	1,231
Accounts Payable	668	683	717	711	647	345	435	455	380	338
Accrued Expenses	977	997	1,029	1,082	1,052	727	651	673	608	584
Current Deferred & Payable Income Tax Liabilities	224	298	198	121	134	83	34	74	120	117
Other Current Liabilities	-	-	-	-	478	173	170	177	181	192
Total Noncurrent Liabilities	6,876	6,883	6,869	6,969	9,248	9,406	6,253	6,320	5,800	5,024
Long-Term Debt	5,715	5,700	5,707	5,739	5,487	6,366	4,854	4,862	4,388	3,884
Noncurrent Deferred & Payable Income Tax Liabilities	257	352	238	226	219	141	157	168	147	24
Other Noncurrent Operating Liabilities	904	831	924	1,004	3,542	1,232	1,242	1,290	1,265	1,116
Total Equity & Noncontrolling Interests	-258	-727	-751	-865	-1,495	-661	-1,517	-2,205	-1,626	-1,383
Total Preferred & Common Equity	-259	-729	-753	-869	-1,499	-662	-1,518	-2,206	-1,627	-1,385
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-259	-729	-753	-869	-1,499	-662	-1,518	-2,206	-1,627	-1,385
Common Stock	701	807	819	912	989	1,034	1,027	939	958	944
Retained Earnings	315	205	-1,434	-1,482	-2,182	-1,421	-1,803	-2,401	-1,838	-1,578
Treasury Stock	-1,315	-1,753	-162	-358	-358	-358	-822	-822	-822	-822
Accumulated Other Comprehensive Income / (Loss)	40	12	24	59	52	83	80	78	75	71
Noncontrolling Interest	1.00	2.00	2.00	4.00	4.00	1.00	1.00	1.00	1.00	2.00

This table presents Bath & Body Works' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Total Assets	5,133	5,494	5,363	5,195	5,243	5,463	5,221	4,948	4,984	4,872
Total Current Assets	1,948	2,266	2,080	1,893	1,959	2,115	1,917	1,666	1,720	1,823
Cash & Equivalents	295	1,232	1,046	790	412	1,084	855	514	191	674
Accounts Receivable	242	226	145	153	197	224	121	146	200	205
Inventories, net	1,269	709	771	818	1,205	710	814	863	1,178	734
Other Current Assets	142	99	118	132	145	97	127	143	151	114
Other Current Nonoperating Assets	-	-	-	-	-	0.00	-	-	-	96
Plant, Property, & Equipment, net	1,121	1,193	1,223	1,236	1,244	1,220	1,183	1,166	1,158	1,127
Total Noncurrent Assets	2,064	2,035	2,060	2,066	2,040	2,128	2,121	2,116	2,106	1,922
Goodwill	628	628	628	628	628	628	628	628	628	628
Intangible Assets	165	165	165	165	165	165	165	165	165	165
Noncurrent Deferred & Refundable Income Taxes	41	37	37	38	35	144	143	143	143	130
Other Noncurrent Operating Assets	1,230	1,205	1,230	1,235	1,212	1,191	1,185	1,180	1,170	999
Total Liabilities & Shareholders' Equity	5,133	5,494	5,363	5,195	5,243	5,463	5,221	4,948	4,984	4,872
Total Liabilities	7,741	7,699	7,533	7,349	7,367	7,089	6,897	6,666	6,732	6,255
Total Current Liabilities	1,452	1,379	1,277	1,213	1,409	1,289	1,221	1,497	1,575	1,231
Accounts Payable	632	455	426	508	627	380	403	411	510	338
Accrued Expenses	645	673	585	518	590	608	489	526	547	584
Current Deferred & Payable Income Tax Liabilities	0.00	74	101	0.00	0.00	120	143	61	16	117
Other Current Liabilities	175	177	165	187	192	181	186	186	188	192
Total Noncurrent Liabilities	6,289	6,320	6,256	6,136	5,958	5,800	5,676	5,169	5,157	5,024
Long-Term Debt	4,860	4,862	4,781	4,668	4,497	4,388	4,282	3,881	3,883	3,884
Noncurrent Deferred & Payable Income Tax Liabilities	158	168	168	168	167	147	147	45	45	24
Other Noncurrent Operating Liabilities	1,271	1,290	1,307	1,300	1,294	1,265	1,247	1,243	1,229	1,116
Total Equity & Noncontrolling Interests	-2,608	-2,205	-2,170	-2,154	-2,124	-1,626	-1,676	-1,718	-1,748	-1,383
Total Preferred & Common Equity	-2,609	-2,206	-2,171	-2,155	-2,125	-1,627	-1,677	-1,719	-1,749	-1,385
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-2,609	-2,206	-2,171	-2,155	-2,125	-1,627	-1,677	-1,719	-1,749	-1,385
Common Stock	923	939	940	948	951	958	960	947	942	944
Retained Earnings	-2,789	-2,401	-2,366	-2,358	-2,329	-1,838	-1,889	-1,918	-1,942	-1,578
Treasury Stock	-822	-822	-822	-822	-822	-822	-822	-822	-822	-822
Accumulated Other Comprehensive Income / (Loss)	79	78	77	77	75	75	74	74	73	71
Noncontrolling Interest	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	2.00

This table displays calculated financial ratios and metrics derived from Bath & Body Works' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	6.11%	3.46%	0.46%	4.79%	-59.17%	19.04%	22.51%	-4.09%	-1.73%	-1.64%
EBITDA Growth	13.78%	-4.51%	-12.49%	-20.21%	-12.47%	32.50%	4.77%	-25.76%	1.30%	-0.80%
EBIT Growth	15.71%	-7.85%	-17.80%	-27.71%	-21.26%	58.90%	16.54%	-23.08%	-1.94%	-1.90%
NOPAT Growth	14.17%	-3.70%	-5.33%	-28.20%	-15.35%	57.16%	22.73%	-31.11%	5.69%	-11.07%
Net Income Growth	20.25%	-7.58%	-15.11%	-34.49%	-156.83%	330.60%	57.94%	-39.99%	9.75%	-9.11%
EPS Growth	20.57%	-5.69%	-14.07%	-32.46%	-156.83%	330.60%	62.67%	-29.71%	11.95%	-5.99%
Operating Cash Flow Growth	13.49%	-1.83%	-29.35%	-2.06%	-10.24%	64.97%	-26.83%	-23.32%	-16.61%	-7.13%
Free Cash Flow Firm Growth	23.06%	-22.84%	-30.30%	9.85%	90.99%	53.39%	-54.16%	-21.20%	-12.93%	9.12%
Invested Capital Growth	-4.74%	5.49%	14.73%	0.14%	-27.71%	-57.64%	25.51%	4.93%	17.75%	3.16%
Revenue Q/Q Growth	2.76%	0.75%	2.71%	0.23%	-58.61%	124.03%	40.40%	-1.81%	0.32%	-1.68%
EBITDA Q/Q Growth	5.13%	-2.62%	-1.80%	-7.35%	4.19%	36.69%	-22.74%	-11.37%	3.61%	-1.22%
EBIT Q/Q Growth	5.64%	-4.00%	-2.55%	-10.39%	7.00%	58.57%	-23.78%	-13.26%	3.48%	-1.54%
NOPAT Q/Q Growth	6.37%	0.29%	7.26%	-15.88%	17.72%	43.58%	-22.71%	-14.29%	19.20%	-13.87%
Net Income Q/Q Growth	6.10%	-0.43%	3.36%	-16.15%	-200.00%	507.73%	-16.58%	-16.67%	19.78%	-13.64%
EPS Q/Q Growth	100.00%	0.51%	4.27%	-17.20%	-200.00%	507.73%	-21.29%	-18.33%	18.52%	-11.74%
Operating Cash Flow Q/Q Growth	20.80%	-8.55%	-18.11%	7.49%	-2.98%	0.34%	-16.18%	2.88%	-13.67%	3.38%
Free Cash Flow Firm Q/Q Growth	13.41%	-1.87%	-27.32%	11.93%	95.26%	-22.73%	-20.29%	-2.03%	-7.69%	10.16%
Invested Capital Q/Q Growth	-22.25%	-20.79%	-10.25%	-16.08%	-35.73%	-18.65%	-21.77%	-27.18%	-14.43%	-23.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.82%	40.76%	39.26%	37.01%	44.16%	48.12%	48.91%	43.06%	43.56%	44.26%
EBITDA Margin	22.08%	20.38%	17.75%	13.52%	28.97%	32.25%	27.58%	21.35%	22.01%	22.20%
Operating Margin	18.04%	15.93%	13.68%	9.35%	19.24%	24.93%	25.49%	18.20%	17.30%	17.33%
EBIT Margin	18.66%	16.62%	13.60%	9.38%	18.09%	24.15%	22.98%	18.43%	18.39%	18.34%
Profit (Net Income) Margin	10.31%	9.21%	7.78%	4.87%	-6.77%	13.12%	16.91%	10.58%	11.82%	10.92%
Tax Burden Percent	64.79%	68.28%	74.92%	75.15%	-60.20%	75.22%	93.68%	76.56%	85.99%	77.63%
Interest Burden Percent	85.27%	81.15%	76.37%	69.00%	62.17%	72.20%	78.58%	75.02%	74.74%	76.72%
Effective Tax Rate	35.21%	31.72%	25.08%	24.85%	24.34%	22.91%	24.46%	24.02%	14.01%	22.37%
Return on Invested Capital (ROIC)	47.54%	45.66%	39.22%	26.33%	25.85%	68.02%	124.40%	75.13%	71.22%	57.66%
ROIC Less NNEP Spread (ROIC-NNEP)	42.16%	39.65%	31.50%	19.75%	-1.44%	54.46%	116.40%	67.59%	64.67%	51.90%
Return on Net Nonoperating Assets (RNNOA)	-1,096.07%	-280.79%	-172.23%	-106.03%	5.16%	-146.31%	-246.81%	-118.12%	-117.06%	-110.70%
Return on Equity (ROE)	-1,048.54%	-235.13%	-133.02%	-79.70%	31.02%	-78.29%	-122.41%	-42.99%	-45.84%	-53.04%
Cash Return on Invested Capital (CROIC)	52.39%	40.32%	25.49%	26.19%	58.02%	148.99%	101.78%	70.32%	54.92%	54.55%
Operating Return on Assets (OROA)	28.41%	25.09%	21.06%	15.30%	10.74%	14.33%	20.58%	24.18%	24.93%	25.93%
Return on Assets (ROA)	15.69%	13.90%	12.05%	7.93%	-4.02%	7.78%	15.15%	13.89%	16.03%	15.44%
Return on Common Equity (ROCE)	-1,057.31%	-235.84%	-133.38%	-80.00%	31.12%	-78.47%	-122.52%	-43.01%	-45.86%	-53.09%
Return on Equity Simple (ROE_SIMPLE)	-483.78%	-158.85%	-130.54%	-74.11%	24.42%	-127.49%	-87.81%	-36.26%	-53.96%	-57.62%
Net Operating Profit after Tax (NOPAT)	1,420	1,368	1,295	930	787	1,237	1,518	1,045	1,105	983
NOPAT Margin	11.68%	10.88%	10.25%	7.02%	14.56%	19.22%	19.26%	13.83%	14.87%	13.45%
Net Nonoperating Expense Percent (NNEP)	5.38%	6.01%	7.71%	6.58%	27.30%	13.56%	8.00%	7.55%	6.55%	5.76%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	39.35%	40.01%	39.29%
Cost of Revenue to Revenue	57.18%	59.24%	60.74%	62.99%	55.84%	51.88%	51.09%	56.94%	56.44%	55.74%
SG&A Expenses to Revenue	24.78%	24.83%	25.58%	26.92%	24.92%	23.19%	23.42%	24.85%	26.26%	26.93%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.78%	24.83%	25.58%	27.66%	24.92%	23.19%	23.42%	24.85%	26.26%	26.93%
Earnings before Interest and Taxes (EBIT)	2,268	2,090	1,718	1,242	978	1,554	1,811	1,393	1,366	1,340
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2,683	2,562	2,242	1,789	1,566	2,075	2,174	1,614	1,635	1,622
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.36	0.84	0.70	0.40	0.89	1.34	1.71	1.29	1.30	1.17
Price to Earnings (P/E)	13.17	9.15	9.00	8.20	0.00	10.19	10.09	12.15	11.01	10.71
Dividend Yield	2.81%	5.18%	6.13%	10.00%	5.53%	3.10%	0.80%	1.88%	1.89%	2.14%
Earnings Yield	7.60%	10.93%	11.11%	12.20%	0.00%	9.82%	9.91%	8.23%	9.08%	9.34%
Enterprise Value to Invested Capital (EV/IC)	6.75	4.68	3.72	2.74	3.47	10.53	12.02	9.37	7.73	6.79
Enterprise Value to Revenue (EV/Rev)	1.62	1.14	1.04	0.73	1.64	1.77	2.07	1.77	1.75	1.61
Enterprise Value to EBITDA (EV/EBITDA)	7.33	5.62	5.85	5.41	5.65	5.49	7.51	8.27	7.94	7.25
Enterprise Value to EBIT (EV/EBIT)	8.67	6.89	7.64	7.80	9.05	7.33	9.01	9.59	9.50	8.78
Enterprise Value to NOPAT (EV/NOPAT)	13.85	10.53	10.14	10.42	11.25	9.22	10.76	12.77	11.74	11.97
Enterprise Value to Operating Cash Flow (EV/OCF)	9.70	7.23	9.34	7.03	7.16	5.59	10.94	11.67	13.60	13.27
Enterprise Value to Free Cash Flow (EV/FCFF)	12.57	11.92	15.60	10.47	5.01	4.21	13.15	13.65	15.23	12.65
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-22.17	-7.89	-7.72	-6.72	-3.71	-9.63	-3.20	-2.21	-2.70	-2.81
Long-Term Debt to Equity	-22.15	-7.84	-7.60	-6.63	-3.67	-9.63	-3.20	-2.21	-2.70	-2.81
Financial Leverage	-26.00	-7.08	-5.47	-5.37	-3.58	-2.69	-2.12	-1.75	-1.81	-2.13
Leverage Ratio	-66.82	-16.92	-11.04	-10.05	-7.72	-10.06	-8.08	-3.10	-2.86	-3.43
Compound Leverage Factor	-56.98	-13.73	-8.43	-6.93	-4.80	-7.27	-6.35	-2.32	-2.14	-2.64
Debt to Total Capital	104.72%	114.51%	114.89%	117.49%	136.89%	111.59%	145.46%	182.99%	158.87%	155.30%
Short-Term Debt to Total Capital	0.11%	0.72%	1.73%	1.46%	1.51%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	104.61%	113.80%	113.17%	116.03%	135.38%	111.59%	145.46%	182.99%	158.87%	155.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.02%	0.04%	0.04%	0.08%	0.10%	0.02%	0.03%	0.04%	0.04%	0.08%
Common Equity to Total Capital	-4.74%	-14.55%	-14.93%	-17.57%	-36.98%	-11.60%	-45.49%	-83.03%	-58.91%	-55.38%
Debt to EBITDA	2.13	2.24	2.58	3.25	3.54	3.07	2.23	3.01	2.68	2.39
Net Debt to EBITDA	1.18	1.48	1.91	2.46	2.59	1.35	1.32	2.25	2.02	1.98
Long-Term Debt to EBITDA	2.13	2.22	2.55	3.21	3.50	3.07	2.23	3.01	2.68	2.39
Debt to NOPAT	4.03	4.19	4.48	6.25	7.05	5.15	3.20	4.65	3.97	3.95
Net Debt to NOPAT	2.23	2.78	3.31	4.73	5.15	2.26	1.89	3.47	2.99	3.27
Long-Term Debt to NOPAT	4.02	4.17	4.41	6.17	6.97	5.15	3.20	4.65	3.97	3.95
Altman Z-Score	3.82	3.35	2.78	2.43	0.90	1.53	3.29	2.55	2.71	2.92
Noncontrolling Interest Sharing Ratio	-0.84%	-0.30%	-0.27%	-0.37%	-0.34%	-0.23%	-0.09%	-0.05%	-0.05%	-0.10%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.22	1.72	1.62	1.64	1.37	1.97	2.33	1.64	1.64	1.48
Quick Ratio	1.50	1.11	0.90	0.90	0.76	1.31	1.72	1.06	1.01	0.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,565	1,208	842	925	1,766	2,709	1,242	978	852	930
Operating Cash Flow to CapEx	381.73%	212.38%	198.87%	218.92%	269.87%	894.30%	552.59%	348.78%	320.13%	392.04%
Free Cash Flow to Firm to Interest Expense	4.69	3.07	2.07	2.40	4.77	6.27	3.20	2.81	2.47	2.98
Operating Cash Flow to Interest Expense	6.07	5.05	3.46	3.58	3.34	4.72	3.85	3.29	2.77	2.84
Operating Cash Flow Less CapEx to Interest Expense	4.48	2.67	1.72	1.94	2.10	4.19	3.15	2.34	1.90	2.12
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.52	1.51	1.55	1.63	0.59	0.59	0.90	1.31	1.36	1.41
Accounts Receivable Turnover	47.38	45.31	41.83	39.10	16.06	28.34	40.63	32.45	33.02	34.07
Inventory Turnover	6.44	6.72	6.57	6.70	2.38	3.59	6.29	6.07	5.91	5.64
Fixed Asset Turnover	5.28	4.96	4.48	4.64	2.04	3.67	7.78	6.87	6.16	6.23
Accounts Payable Turnover	10.85	11.03	10.96	11.68	4.44	6.73	10.33	9.67	10.04	11.35
Days Sales Outstanding (DSO)	7.70	8.06	8.73	9.33	22.72	12.88	8.98	11.25	11.05	10.71
Days Inventory Outstanding (DIO)	56.67	54.34	55.56	54.46	153.29	101.64	58.05	60.11	61.76	64.70
Days Payable Outstanding (DPO)	33.64	33.10	33.30	31.26	82.12	54.24	35.35	37.73	36.34	32.17
Cash Conversion Cycle (CCC)	30.73	29.30	30.99	32.53	93.90	60.28	31.69	33.63	36.47	43.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,915	3,075	3,528	3,533	2,554	1,082	1,358	1,425	1,678	1,731
Invested Capital Turnover	4.07	4.20	3.83	3.75	1.78	3.54	6.46	5.43	4.79	4.29
Increase / (Decrease) in Invested Capital	-145	160	453	5.00	-979	-1,472	276	67	253	53
Enterprise Value (EV)	19,672	14,396	13,126	9,682	8,851	11,398	16,324	13,353	12,975	11,760
Market Capitalization	16,498	10,592	8,845	5,280	4,798	8,599	13,448	9,722	9,670	8,548
Book Value per Share	($0.89)	($2.55)	($2.67)	($3.16)	($5.42)	($2.38)	($5.89)	($9.66)	($7.20)	($6.39)
Tangible Book Value per Share	($6.87)	($8.70)	($8.90)	($9.55)	($9.18)	($5.23)	($8.97)	($13.13)	($10.71)	($10.06)
Total Capital	5,463	5,009	5,043	4,946	4,053	5,705	3,337	2,657	2,762	2,501
Total Debt	5,721	5,736	5,794	5,811	5,548	6,366	4,854	4,862	4,388	3,884
Total Long-Term Debt	5,715	5,700	5,707	5,739	5,487	6,366	4,854	4,862	4,388	3,884
Net Debt	3,173	3,802	4,279	4,398	4,049	2,798	2,875	3,630	3,304	3,210
Capital Expenditures (CapEx)	531	937	707	629	458	228	270	328	298	226
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-261	-447	-166	-67	-565	-815	-260	-345	-258	-82
Debt-free Net Working Capital (DFNWC)	2,287	1,487	1,349	1,346	934	2,753	1,719	887	826	592
Net Working Capital (NWC)	2,281	1,451	1,262	1,274	873	2,753	1,719	887	826	592
Net Nonoperating Expense (NNE)	167	210	312	286	1,153	393	185	245	227	185
Net Nonoperating Obligations (NNO)	3,173	3,802	4,279	4,398	4,049	1,743	2,875	3,630	3,304	3,114
Total Depreciation and Amortization (D&A)	415	472	524	547	588	521	363	221	269	282
Debt-free, Cash-free Net Working Capital to Revenue	-2.15%	-3.56%	-1.31%	-0.51%	-10.45%	-12.67%	-3.30%	-4.56%	-3.47%	-1.12%
Debt-free Net Working Capital to Revenue	18.82%	11.83%	10.68%	10.17%	17.28%	42.79%	21.81%	11.73%	11.12%	8.10%
Net Working Capital to Revenue	18.77%	11.54%	9.99%	9.62%	16.15%	42.79%	21.81%	11.73%	11.12%	8.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$1.86	($1.06)	$2.43	$4.96	$0.00	$3.86	$3.62
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	344.08M	345.75M	697.21M	238.91M	0.00	224.90M	214.23M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$1.85	($1.06)	$2.40	$4.88	$0.00	$3.84	$3.61
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	344.08M	345.75M	697.21M	238.91M	0.00	224.90M	214.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	344.08M	345.75M	697.21M	238.91M	0.00	224.90M	214.23M
Normalized Net Operating Profit after Tax (NOPAT)	1,420	1,368	1,295	1,004	787	1,237	1,518	1,045	1,105	983
Normalized NOPAT Margin	11.68%	10.88%	10.25%	7.58%	14.56%	19.22%	19.26%	13.83%	14.87%	13.45%
Pre Tax Income Margin	15.91%	13.49%	10.39%	6.47%	11.25%	17.44%	18.05%	13.82%	13.74%	14.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.79	5.30	4.23	3.23	2.64	3.60	4.67	4.00	3.96	4.29
NOPAT to Interest Expense	4.25	3.47	3.19	2.41	2.13	2.86	3.91	3.00	3.20	3.15
EBIT Less CapEx to Interest Expense	5.20	2.93	2.49	1.59	1.41	3.07	3.97	3.06	3.10	3.57
NOPAT Less CapEx to Interest Expense	2.66	1.09	1.45	0.78	0.89	2.33	3.22	2.06	2.34	2.43
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	93.46%	109.50%	69.79%	103.42%	-90.71%	9.83%	9.00%	23.25%	20.73%	22.18%
Augmented Payout Ratio	132.00%	147.06%	115.16%	134.16%	-90.71%	9.83%	156.34%	187.25%	37.59%	72.43%

This table displays calculated financial ratios and metrics derived from Bath & Body Works' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.58%	-4.59%	-3.72%	-3.65%	-2.62%	0.83%	-0.86%	-2.12%	3.07%	-4.29%
EBITDA Growth	-29.46%	-22.28%	-20.96%	-6.06%	19.92%	7.89%	2.65%	7.89%	-7.03%	-2.57%
EBIT Growth	-35.53%	-24.32%	-28.47%	-12.70%	18.54%	6.94%	-0.50%	7.98%	-8.64%	-2.96%
NOPAT Growth	-51.56%	-26.45%	-42.09%	-20.26%	7.08%	33.32%	5.33%	24.05%	-3.65%	-22.30%
Net Income Growth	3.41%	-26.94%	-47.74%	-17.50%	30.77%	33.41%	7.41%	53.54%	-10.92%	-21.76%
EPS Growth	21.21%	-23.69%	-45.31%	-17.31%	30.00%	33.68%	8.57%	58.14%	-5.77%	-18.90%
Operating Cash Flow Growth	88.89%	3.06%	-33.33%	120.00%	-250.00%	-14.02%	72.73%	-239.39%	-102.04%	3.13%
Free Cash Flow Firm Growth	23.61%	9.09%	150.87%	158.60%	342.60%	-5.88%	-142.63%	-133.74%	-185.27%	14.24%
Invested Capital Growth	12.73%	4.93%	1.16%	-1.15%	0.20%	17.75%	11.89%	13.81%	15.15%	3.16%
Revenue Q/Q Growth	-0.87%	80.05%	-51.66%	11.68%	0.19%	86.43%	-52.47%	10.26%	5.50%	73.11%
EBITDA Q/Q Growth	-12.12%	176.63%	-63.43%	5.68%	12.19%	148.88%	-65.21%	11.07%	-3.32%	160.82%
EBIT Q/Q Growth	-15.98%	223.41%	-69.68%	5.97%	14.08%	191.77%	-71.79%	15.00%	-3.48%	209.91%
NOPAT Q/Q Growth	-15.96%	213.63%	-72.98%	11.96%	12.86%	290.51%	-78.65%	31.86%	-12.34%	214.91%
Net Income Q/Q Growth	-24.17%	376.92%	-81.34%	22.22%	20.20%	386.55%	-84.97%	74.71%	-30.26%	327.36%
EPS Q/Q Growth	-23.08%	375.00%	-81.58%	22.86%	20.93%	388.46%	-85.04%	78.95%	-27.94%	320.41%
Operating Cash Flow Q/Q Growth	-193.33%	7,792.86%	-95.91%	-25.00%	-248.48%	1,989.80%	-91.79%	-160.53%	-115.22%	1,064.65%
Free Cash Flow Firm Q/Q Growth	76.59%	727.50%	-72.96%	47.52%	-3.09%	143.44%	-112.25%	-16.77%	-144.92%	426.12%
Invested Capital Q/Q Growth	12.21%	-27.18%	9.82%	10.16%	13.75%	-14.43%	4.35%	12.05%	15.09%	-23.34%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	42.27%	43.21%	42.69%	39.90%	43.66%	45.88%	43.79%	41.02%	43.48%	46.72%
EBITDA Margin	16.27%	25.00%	18.91%	17.90%	20.04%	26.75%	19.58%	19.72%	18.07%	27.23%
Operating Margin	12.59%	22.58%	12.97%	12.06%	14.15%	23.87%	13.51%	11.99%	13.54%	24.33%
EBIT Margin	12.78%	22.96%	14.40%	13.66%	15.56%	24.35%	14.45%	15.07%	13.79%	24.69%
Profit (Net Income) Margin	5.67%	15.03%	5.80%	6.35%	7.62%	19.88%	6.29%	9.96%	6.58%	16.25%
Tax Burden Percent	76.47%	75.35%	72.32%	77.95%	74.84%	92.94%	73.73%	99.35%	73.10%	74.02%
Interest Burden Percent	58.05%	86.88%	55.72%	59.62%	65.43%	87.87%	59.00%	66.52%	65.32%	88.95%
Effective Tax Rate	23.53%	25.69%	27.68%	22.05%	25.16%	7.06%	26.27%	0.65%	26.90%	25.98%
Return on Invested Capital (ROIC)	40.15%	91.14%	45.23%	40.37%	40.03%	106.21%	44.56%	47.73%	34.87%	77.19%
ROIC Less NNEP Spread (ROIC-NNEP)	38.56%	89.59%	43.98%	39.22%	38.95%	104.28%	43.14%	46.94%	33.55%	75.67%
Return on Net Nonoperating Assets (RNNOA)	-71.81%	-156.58%	-72.32%	-67.47%	-71.21%	-188.74%	-80.34%	-91.63%	-70.12%	-161.40%
Return on Equity (ROE)	-31.66%	-65.44%	-27.09%	-27.10%	-31.18%	-82.53%	-35.78%	-43.90%	-35.24%	-84.21%
Cash Return on Invested Capital (CROIC)	54.09%	70.32%	60.08%	53.94%	47.12%	54.92%	55.80%	49.18%	40.01%	54.55%
Operating Return on Assets (OROA)	17.63%	30.13%	21.14%	20.16%	22.21%	33.02%	20.25%	21.94%	20.04%	34.91%
Return on Assets (ROA)	7.82%	19.72%	8.52%	9.37%	10.87%	26.96%	8.81%	14.50%	9.57%	22.98%
Return on Common Equity (ROCE)	-31.67%	-65.47%	-27.10%	-27.11%	-31.19%	-82.58%	-35.80%	-43.92%	-35.26%	-84.29%
Return on Equity Simple (ROE_SIMPLE)	-36.80%	0.00%	-33.44%	-32.71%	-34.49%	0.00%	-52.71%	-54.51%	-52.83%	0.00%
Net Operating Profit after Tax (NOPAT)	154	484	131	147	165	646	138	182	159	502
NOPAT Margin	9.63%	16.78%	9.38%	9.40%	10.59%	22.18%	9.96%	11.91%	9.90%	18.01%
Net Nonoperating Expense Percent (NNEP)	1.59%	1.55%	1.26%	1.15%	1.07%	1.93%	1.42%	0.79%	1.32%	1.52%
Return On Investment Capital (ROIC_SIMPLE)	-	18.23%	-	-	-	23.39%	-	-	-	20.07%
Cost of Revenue to Revenue	57.73%	56.79%	57.31%	60.10%	56.34%	54.12%	56.21%	58.98%	56.52%	53.28%
SG&A Expenses to Revenue	29.68%	20.64%	29.73%	27.84%	29.51%	22.01%	30.27%	29.03%	29.94%	22.39%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	29.68%	20.64%	29.73%	27.84%	29.51%	22.01%	30.27%	29.03%	29.94%	22.39%
Earnings before Interest and Taxes (EBIT)	205	663	201	213	243	709	200	230	222	688
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	261	722	264	279	313	779	271	301	291	759
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.96	1.29	1.05	1.09	0.85	1.30	1.42	1.02	0.88	1.17
Price to Earnings (P/E)	7.73	12.15	10.81	11.53	8.58	11.01	11.88	8.05	7.10	10.71
Dividend Yield	2.31%	1.88%	2.33%	2.25%	2.91%	1.89%	1.74%	2.42%	2.78%	2.14%
Earnings Yield	12.93%	8.23%	9.25%	8.67%	11.66%	9.08%	8.42%	12.43%	14.08%	9.34%
Enterprise Value to Invested Capital (EV/IC)	6.13	9.37	7.40	6.97	5.29	7.73	7.95	5.72	4.68	6.79
Enterprise Value to Revenue (EV/Rev)	1.56	1.77	1.54	1.61	1.40	1.75	1.88	1.52	1.42	1.61
Enterprise Value to EBITDA (EV/EBITDA)	6.59	8.27	7.50	7.87	6.57	7.94	8.48	6.74	6.44	7.25
Enterprise Value to EBIT (EV/EBIT)	7.47	9.59	8.82	9.37	7.86	9.50	10.20	8.12	7.77	8.78
Enterprise Value to NOPAT (EV/NOPAT)	9.83	12.77	12.16	13.12	11.19	11.74	12.53	9.80	9.26	11.97
Enterprise Value to Operating Cash Flow (EV/OCF)	10.78	11.67	10.32	10.54	9.39	13.60	14.13	12.37	12.33	13.27
Enterprise Value to Free Cash Flow (EV/FCFF)	12.01	13.65	12.39	12.84	11.24	15.23	15.05	12.38	12.52	12.65
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.86	-2.21	-2.20	-2.17	-2.12	-2.70	-2.55	-2.44	-2.40	-2.81
Long-Term Debt to Equity	-1.86	-2.21	-2.20	-2.17	-2.12	-2.70	-2.55	-2.26	-2.22	-2.81
Financial Leverage	-1.86	-1.75	-1.64	-1.72	-1.83	-1.81	-1.86	-1.95	-2.09	-2.13
Leverage Ratio	-2.61	-3.10	-2.12	-2.10	-2.19	-2.86	-2.75	-2.62	-2.64	-3.43
Compound Leverage Factor	-1.51	-2.69	-1.18	-1.25	-1.43	-2.51	-1.62	-1.74	-1.73	-3.06
Debt to Total Capital	215.81%	182.99%	183.11%	185.68%	189.51%	158.87%	164.31%	169.39%	171.38%	155.30%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	12.64%	12.82%	0.00%
Long-Term Debt to Total Capital	215.81%	182.99%	183.11%	185.68%	189.51%	158.87%	164.31%	156.74%	158.55%	155.30%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.08%
Common Equity to Total Capital	-115.85%	-83.03%	-83.15%	-85.72%	-89.55%	-58.91%	-64.35%	-69.43%	-71.42%	-55.38%
Debt to EBITDA	2.67	3.01	3.10	3.06	2.85	2.68	2.61	2.52	2.56	2.39
Net Debt to EBITDA	2.51	2.25	2.42	2.54	2.59	2.02	2.09	2.21	2.44	1.98
Long-Term Debt to EBITDA	2.67	3.01	3.10	3.06	2.85	2.68	2.61	2.33	2.36	2.39
Debt to NOPAT	3.98	4.65	5.02	5.10	4.85	3.97	3.85	3.67	3.68	3.95
Net Debt to NOPAT	3.74	3.47	3.92	4.24	4.41	2.99	3.08	3.22	3.51	3.27
Long-Term Debt to NOPAT	3.98	4.65	5.02	5.10	4.85	3.97	3.85	3.39	3.40	3.95
Altman Z-Score	1.56	2.11	1.71	1.75	1.58	2.32	2.11	1.82	1.71	2.48
Noncontrolling Interest Sharing Ratio	-0.05%	-0.05%	-0.04%	-0.04%	-0.04%	-0.05%	-0.05%	-0.05%	-0.05%	-0.10%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.34	1.64	1.63	1.56	1.39	1.64	1.57	1.11	1.09	1.48
Quick Ratio	0.37	1.06	0.93	0.78	0.43	1.01	0.80	0.44	0.25	0.71
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-67	417	113	167	161	393	-48	-56	-138	449
Operating Cash Flow to CapEx	-15.38%	1,417.11%	47.31%	38.82%	-68.06%	1,929.17%	165.22%	-83.64%	-152.31%	1,591.67%
Free Cash Flow to Firm to Interest Expense	-0.77	4.80	1.27	1.94	1.92	4.57	-0.59	-0.73	-1.79	5.91
Operating Cash Flow to Interest Expense	-0.16	12.38	0.49	0.38	-0.58	10.77	0.93	-0.60	-1.29	12.57
Operating Cash Flow Less CapEx to Interest Expense	-1.22	11.51	-0.55	-0.60	-1.44	10.21	0.37	-1.31	-2.13	11.78
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.38	1.31	1.47	1.48	1.43	1.36	1.40	1.46	1.45	1.41
Accounts Receivable Turnover	31.81	32.45	48.12	44.20	33.74	33.02	55.77	49.39	37.44	34.07
Inventory Turnover	3.51	6.07	5.44	4.81	3.44	5.91	5.26	4.92	3.49	5.64
Fixed Asset Turnover	7.20	6.87	6.58	6.46	6.26	6.16	6.17	6.15	6.19	6.23
Accounts Payable Turnover	6.60	9.67	9.65	7.86	6.76	10.04	10.06	9.00	7.32	11.35
Days Sales Outstanding (DSO)	11.47	11.25	7.59	8.26	10.82	11.05	6.55	7.39	9.75	10.71
Days Inventory Outstanding (DIO)	103.93	60.11	67.15	75.88	106.06	61.76	69.35	74.21	104.44	64.70
Days Payable Outstanding (DPO)	55.32	37.73	37.82	46.44	53.97	36.34	36.27	40.57	49.83	32.17
Cash Conversion Cycle (CCC)	60.09	33.63	36.92	37.69	62.91	36.47	39.62	41.03	64.36	43.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,957	1,425	1,565	1,724	1,961	1,678	1,751	1,962	2,258	1,731
Invested Capital Turnover	4.17	5.43	4.82	4.29	3.78	4.79	4.47	4.01	3.52	4.29
Increase / (Decrease) in Invested Capital	221	67	18	-20	4.00	253	186	238	297	53
Enterprise Value (EV)	11,991	13,353	11,583	12,011	10,374	12,975	13,928	11,220	10,570	11,760
Market Capitalization	7,425	9,722	7,847	8,132	6,288	9,670	10,500	7,539	6,563	8,548
Book Value per Share	($11.42)	($9.66)	($9.49)	($9.41)	($9.35)	($7.20)	($7.46)	($7.70)	($7.98)	($6.39)
Tangible Book Value per Share	($14.90)	($13.13)	($12.96)	($12.88)	($12.83)	($10.71)	($10.98)	($11.25)	($11.60)	($10.06)
Total Capital	2,252	2,657	2,611	2,514	2,373	2,762	2,606	2,476	2,449	2,501
Total Debt	4,860	4,862	4,781	4,668	4,497	4,388	4,282	4,194	4,197	3,884
Total Long-Term Debt	4,860	4,862	4,781	4,668	4,497	4,388	4,282	3,881	3,883	3,884
Net Debt	4,565	3,630	3,735	3,878	4,085	3,304	3,427	3,680	4,006	3,210
Capital Expenditures (CapEx)	91	76	93	85	72	48	46	55	65	60
Debt-free, Cash-free Net Working Capital (DFCFNWC)	201	-345	-243	-110	138	-258	-159	-32	268	-82
Debt-free Net Working Capital (DFNWC)	496	887	803	680	550	826	696	482	459	592
Net Working Capital (NWC)	496	887	803	680	550	826	696	169	145	592
Net Nonoperating Expense (NNE)	63	50	50	48	46	67	51	30	53	49
Net Nonoperating Obligations (NNO)	4,565	3,630	3,735	3,878	4,085	3,304	3,427	3,680	4,006	3,114
Total Depreciation and Amortization (D&A)	56	59	63	66	70	70	71	71	69	71
Debt-free, Cash-free Net Working Capital to Revenue	2.61%	-4.56%	-3.24%	-1.48%	1.86%	-3.47%	-2.14%	-0.43%	3.61%	-1.12%
Debt-free Net Working Capital to Revenue	6.44%	11.73%	10.70%	9.13%	7.43%	11.12%	9.38%	6.53%	6.18%	8.10%
Net Working Capital to Revenue	6.44%	11.73%	10.70%	9.13%	7.43%	11.12%	9.38%	2.29%	1.95%	8.10%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.40	$1.90	$0.36	$0.43	$0.52	$2.55	$0.39	$0.68	$0.49	$2.06
Adjusted Weighted Average Basic Shares Outstanding	228.41M	228.77M	228.91M	227.38M	225.94M	224.90M	223.23M	219.11M	216.58M	214.23M
Adjusted Diluted Earnings per Share	$0.40	$1.90	$0.35	$0.43	$0.52	$2.54	$0.38	$0.68	$0.49	$2.06
Adjusted Weighted Average Diluted Shares Outstanding	228.41M	228.77M	228.91M	227.38M	225.94M	224.90M	223.23M	219.11M	216.58M	214.23M
Adjusted Basic & Diluted Earnings per Share	$0.00	$1.90	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	228.41M	228.77M	228.91M	227.38M	225.94M	224.90M	223.23M	219.11M	216.58M	214.23M
Normalized Net Operating Profit after Tax (NOPAT)	154	484	131	147	165	646	138	182	159	502
Normalized NOPAT Margin	9.63%	16.78%	9.38%	9.40%	10.59%	22.18%	9.96%	11.91%	9.90%	18.01%
Pre Tax Income Margin	7.42%	19.94%	8.02%	8.15%	10.18%	21.39%	8.53%	10.03%	9.01%	21.96%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.38	7.62	2.26	2.48	2.89	8.24	2.44	2.99	2.88	9.05
NOPAT to Interest Expense	1.80	5.57	1.47	1.70	1.97	7.51	1.68	2.36	2.07	6.60
EBIT Less CapEx to Interest Expense	1.33	6.75	1.21	1.49	2.04	7.69	1.88	2.27	2.04	8.26
NOPAT Less CapEx to Interest Expense	0.74	4.70	0.43	0.72	1.11	6.95	1.12	1.65	1.23	5.81
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	18.65%	23.25%	25.34%	26.10%	24.97%	20.73%	20.48%	19.21%	19.37%	22.18%
Augmented Payout Ratio	199.06%	187.25%	37.05%	32.91%	38.47%	37.59%	48.08%	56.35%	62.45%	72.43%

Frequently Asked Questions About Bath & Body Works' Financials

When does Bath & Body Works's financial year end?

According to the most recent income statement we have on file, Bath & Body Works' fiscal year ends in February. Their fiscal year 2025 ended on February 1, 2025.

How has Bath & Body Works' net income changed over the last 9 years?

Bath & Body Works' net income appears to be on a downward trend, with a most recent value of $798 million in 2024, falling from $1.25 billion in 2015. The previous period was $878 million in 2023.

What is Bath & Body Works's operating income?

Bath & Body Works's total operating income in 2024 was $1.27 billion, based on the following breakdown:

Total Gross Profit: $3.23 billion
Total Operating Expenses: $1.97 billion

How has Bath & Body Works revenue changed over the last 9 years?

Over the last 9 years, Bath & Body Works' total revenue changed from $12.15 billion in 2015 to $7.31 billion in 2024, a change of -39.9%.

How much debt does Bath & Body Works have?

Bath & Body Works' total liabilities were at $6.26 billion at the end of 2024, a 11.8% decrease from 2023, and a 28.5% decrease since 2015.

How much cash does Bath & Body Works have?

In the past 9 years, Bath & Body Works' cash and equivalents has ranged from $674 million in 2024 to $3.57 billion in 2020, and is currently $674 million as of their latest financial filing in 2024.

How has Bath & Body Works' book value per share changed over the last 9 years?

Over the last 9 years, Bath & Body Works' book value per share changed from -0.89 in 2015 to -6.39 in 2024, a change of 614.7%.

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This page (NYSE:BBWI) was last updated on 4/30/2025 by MarketBeat.com Staff

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Bath & Body Works (BBWI) Financials

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Bath & Body Works (BBWI) Financials

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