Stock Analysis on Net

Bed Bath & Beyond Inc. (NASDAQ:BBBY)

This company has been moved to the archive! The financial data has not been updated since September 30, 2022.

Return on Capital (ROC)

Microsoft Excel

Return on capital (ROC) is after tax rate of return on net business assets. ROIC is unaffected by changes in interest rates or company debt and equity structure. It measures business productivity performance.


Return on Invested Capital (ROIC)

Bed Bath & Beyond Inc., ROIC calculation, comparison to benchmarks

Microsoft Excel
Feb 26, 2022 Feb 27, 2021 Feb 29, 2020 Mar 2, 2019 Mar 3, 2018 Feb 25, 2017
Selected Financial Data (US$ in thousands)
Net operating profit after taxes (NOPAT)1 (301,295) 98,133 (522,990) (83,311) 735,312 935,216
Invested capital2 3,288,320 4,261,005 5,094,957 5,788,203 6,556,645 6,680,896
Performance Ratio
ROIC3 -9.16% 2.30% -10.26% -1.44% 11.21% 14.00%
Benchmarks
ROIC, Competitors4
Amazon.com Inc. -2.09% 18.50% 16.11% 12.59%
Home Depot Inc. 37.57% 28.36% 35.06% 35.92%
Lowe’s Cos. Inc. 37.37% 24.73% 19.08% 11.47%
TJX Cos. Inc. 18.30% 1.20% 18.89% 18.37%

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

1 NOPAT. See details »

2 Invested capital. See details »

3 2022 Calculation
ROIC = 100 × NOPAT ÷ Invested capital
= 100 × -301,295 ÷ 3,288,320 = -9.16%

4 Click competitor name to see calculations.

Performance ratio Description The company
ROIC A measure of the periodic, after tax, cash-on-cash yield earned in the business. Bed Bath & Beyond Inc. ROIC improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Decomposition of ROIC

Bed Bath & Beyond Inc., decomposition of ROIC

Microsoft Excel
ROIC = OPM1 × TO2 × 1 – CTR3
Feb 26, 2022 -9.16% = -3.87% × 2.39 × 100.00%
Feb 27, 2021 2.30% = -2.12% × 2.17 × 100.00%
Feb 29, 2020 -10.26% = -4.35% × 2.19 × 100.00%
Mar 2, 2019 -1.44% = 0.36% × 2.08 × -191.92%
Mar 3, 2018 11.21% = 7.26% × 1.88 × 82.02%
Feb 25, 2017 14.00% = 10.57% × 1.83 × 72.45%

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

1 Operating profit margin (OPM). See calculations »

2 Turnover of capital (TO). See calculations »

3 Effective cash tax rate (CTR). See calculations »


Operating Profit Margin (OPM)

Bed Bath & Beyond Inc., OPM calculation, comparison to benchmarks

Microsoft Excel
Feb 26, 2022 Feb 27, 2021 Feb 29, 2020 Mar 2, 2019 Mar 3, 2018 Feb 25, 2017
Selected Financial Data (US$ in thousands)
Net operating profit after taxes (NOPAT)1 (301,295) 98,133 (522,990) (83,311) 735,312 935,216
Add: Cash operating taxes2 (3,389) (294,013) 37,797 126,720 161,195 355,672
Net operating profit before taxes (NOPBT) (304,684) (195,880) (485,193) 43,409 896,507 1,290,888
 
Net sales 7,867,778 9,233,028 11,158,580 12,028,797 12,349,301 12,215,757
Profitability Ratio
OPM3 -3.87% -2.12% -4.35% 0.36% 7.26% 10.57%
Benchmarks
OPM, Competitors4
Amazon.com Inc. 0.01% 9.14% 7.23% 6.37%
Home Depot Inc. 15.81% 14.46% 14.86% 14.78%
Lowe’s Cos. Inc. 13.11% 10.29% 8.99% 5.96%
TJX Cos. Inc. 9.95% 1.83% 11.34% 11.40%

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

1 NOPAT. See details »

2 Cash operating taxes. See details »

3 2022 Calculation
OPM = 100 × NOPBT ÷ Net sales
= 100 × -304,684 ÷ 7,867,778 = -3.87%

4 Click competitor name to see calculations.

Profitability ratio Description The company
OPM The operating profit margin (OPM) is the ratio of pretax economic earnings, or NOPBT, to sales. Bed Bath & Beyond Inc. OPM improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Turnover of Capital (TO)

Bed Bath & Beyond Inc., TO calculation, comparison to benchmarks

Microsoft Excel
Feb 26, 2022 Feb 27, 2021 Feb 29, 2020 Mar 2, 2019 Mar 3, 2018 Feb 25, 2017
Selected Financial Data (US$ in thousands)
Net sales 7,867,778 9,233,028 11,158,580 12,028,797 12,349,301 12,215,757
Invested capital1 3,288,320 4,261,005 5,094,957 5,788,203 6,556,645 6,680,896
Efficiency Ratio
TO2 2.39 2.17 2.19 2.08 1.88 1.83
Benchmarks
TO, Competitors3
Amazon.com Inc. 1.92 2.33 2.58 2.21
Home Depot Inc. 3.15 2.66 3.01 3.17
Lowe’s Cos. Inc. 3.68 3.16 2.70 2.90
TJX Cos. Inc. 2.46 1.44 2.23 2.24

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

1 Invested capital. See details »

2 2022 Calculation
TO = Net sales ÷ Invested capital
= 7,867,778 ÷ 3,288,320 = 2.39

3 Click competitor name to see calculations.

Efficiency ratio Description The company
TO The turnover of capital (TO) is the ratio of sales to invested capital. Capital turnover is a function of the efficiency of working capital management and of net fixed assets. Bed Bath & Beyond Inc. TO deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Effective Cash Tax Rate (CTR)

Bed Bath & Beyond Inc., CTR calculation, comparison to benchmarks

Microsoft Excel
Feb 26, 2022 Feb 27, 2021 Feb 29, 2020 Mar 2, 2019 Mar 3, 2018 Feb 25, 2017
Selected Financial Data (US$ in thousands)
Net operating profit after taxes (NOPAT)1 (301,295) 98,133 (522,990) (83,311) 735,312 935,216
Add: Cash operating taxes2 (3,389) (294,013) 37,797 126,720 161,195 355,672
Net operating profit before taxes (NOPBT) (304,684) (195,880) (485,193) 43,409 896,507 1,290,888
Tax Rate
CTR3 291.92% 17.98% 27.55%
Benchmarks
CTR, Competitors4
Amazon.com Inc. 8,113.11% 13.08% 13.72% 10.59%
Home Depot Inc. 24.46% 26.23% 21.74% 23.25%
Lowe’s Cos. Inc. 22.46% 23.91% 21.38% 33.62%
TJX Cos. Inc. 25.39% 54.29% 25.32% 28.10%

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

1 NOPAT. See details »

2 Cash operating taxes. See details »

3 2022 Calculation
CTR = 100 × Cash operating taxes ÷ NOPBT
= 100 × -3,389 ÷ -304,684 =

4 Click competitor name to see calculations.