Explain this page
Arphra AIPlain-English read on Bath & Body Works, Inc.’s valuationIncome statement
| In USD | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|
| Revenue & profit | ||||||||
| Revenue | $7.88B | $7.56B | $7.43B | $7.31B | $7.29B | $7.09B | $7.24B | $7.54B |
| Cost of revenue | $4.03B | $4.31B | $4.19B | $4.07B | $4.1B | $3.93B | $4.08B | $4.29B |
| Gross profit | $3.86B | $3.26B | $3.24B | $3.23B | $3.19B | $3.12B | $3.23B | $3.26B |
| Gross margin | +48.91% | +43.06% | +43.56% | +44.26% | +43.74% | +44.00% | +44.64% | +43.21% |
| Operating | ||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $1.85B | $1.88B | $1.95B | $1.97B | $2.06B | $1.89B | $2.01B | $2.03B |
| Total operating expenses | $1.85B | $1.88B | $1.95B | $1.97B | $2.06B | $1.92B | $1.96B | $2.06B |
| Operating income | $2.01B | $1.38B | $1.29B | $1.27B | $1.13B | $1.21B | $1.23B | $1.27B |
| Operating margin | +25.49% | +18.20% | +17.30% | +17.33% | +15.44% | +17.00% | +17.03% | +16.88% |
| EBITDA | $2.17B | $1.61B | $1.64B | $1.62B | $1.38B | $1.48B | $1.52B | $1.54B |
| EBIT | $1.81B | $1.39B | $1.37B | $1.34B | $1.13B | $1.26B | $1.27B | $1.33B |
| Below the line | ||||||||
| Interest expense | $388M | $348M | $345M | $312M | $276M | $309.18M | $298.88M | $323.22M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$586M | -$331M | -$264M | -$238M | -$244M | — | — | — |
| Pre-tax income | $1.42B | $1.05B | $1.02B | $1.03B | $882M | $932.8M | $972.73M | $994.95M |
| Income tax expense | $348M | $251M | $143M | $230M | $233M | $200.26M | $200.58M | $204.88M |
| Earnings | ||||||||
| Net income | $1.33B | $800M | $878M | $798M | $649M | $754.23M | $762.68M | $787.1M |
| Net income · continuing ops | $1.08B | $794M | $878M | $798M | $649M | $762.74M | $755.44M | $815.51M |
| Net margin | +16.91% | +10.58% | +11.82% | +10.92% | +8.90% | +10.63% | +10.54% | +10.44% |
| EPS · basic | $4.96 | $3.45 | $3.89 | $3.62 | $3.07 | $2.67 | $2.88 | $3.17 |
| EPS · diluted | $4.88 | $3.43 | $3.83 | $3.61 | $3.07 | $2.64 | $2.84 | $3.15 |
| EPS · low estimate | — | — | — | — | — | $2.55 | $2.60 | $2.87 |
| EPS · high estimate | — | — | — | — | — | $2.81 | $3.21 | $3.42 |
| Shares · basic | 269M | 232M | 225.94M | 220M | 211.61M | 210.84M | 211.77M | 212.74M |
| Shares · diluted | 273M | 233M | 229M | 221M | 211.61M | 213.66M | 209.88M | 209.92M |
| Coverage | ||||||||
| Analysts (revenue) | — | — | — | — | — | 11 | 12 | 5 |
| Analysts (EPS) | — | — | — | — | — | 10 | 10 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro