BBWI FY 2025 Earnings Report — Bath & Body Works, Inc. Revenue & Financial Results | Market Cap Arena

Bath & Body Works, Inc.BBWI

FY 2025 Earnings

Reported March 12, 2026

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2025	Prior Q	FY 2024	QoQ Change	YoY Change
Revenue	$7.3B	—	$7.3B	—	-0.2%
Op. Income	$1.1B	—	$1.3B	—	-11.1%
Gross Margin	43.7%	—	44.3%	—	-0.5pp
Net Margin	8.9%	—	10.9%	—	-2.0pp
EPS (Diluted)	$3.07	—	$3.61	—	-15.0%
Free Cash Flow	$865M	—	$660M	—	31.1%

Revenue Flow

Item	Amount
REVENUE	$7.3B
Cost of Revenue	$4.1B
GROSS PROFIT	$3.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.1B
Other Expenses	$0
Operating Expenses	$2.1B
Cost & Expenses	$6.2B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$276M
Other Income/Expenses	-$244M
INCOME BEFORE TAX	$882M
Income Tax Expense	$233M
Net Income from Continuing Ops	$649M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$649M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$649M
D&A	$254M
EBIT	$1.1B
EBITDA	$1.4B
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$7.3B
Cost of Revenue	$4.1B
GROSS PROFIT	$3.2B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$2.1B
Other Expenses	$0
Operating Expenses	$2.1B
Cost & Expenses	$6.2B
OPERATING INCOME	$1.1B
Interest Income	$0
Interest Expense	$276M
Other Income/Expenses	-$244M
INCOME BEFORE TAX	$882M
Income Tax Expense	$233M
Net Income from Continuing Ops	$649M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$649M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$649M
D&A	$254M
EBIT	$1.1B
EBITDA	$1.4B
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$649M
Depreciation & Amortization	$254M
Stock-Based Compensation	$0
Deferred Income Tax	$63M
Other Non-Cash Items	$23M
Change in Working Capital	$113M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$237M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$227M
Net Debt Issuance	-$14M
Common Stock Repurchased	-$401M
Common Dividends Paid	-$167M
Other Financing Activities	-$17M
NET CASH FROM FINANCING	-$599M
FREE CASH FLOW	$865M
Net Change in Cash	$279M

Balance Sheet

Item	Amount
Cash & Equivalents	$953M
Short-Term Investments	$0
Net Receivables	$180M
Inventory	$699M
Other Current Assets	$187M
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$2.1B
Goodwill	$628M
Intangible Assets	$165M
Long-Term Investments	$38M
Tax Assets	$112M
Other Non-Current Assets	$39M
TOTAL NON-CURRENT ASSETS	$3.0B
TOTAL ASSETS	$5.1B
Account Payables	$465M
Short-Term Debt	$475M
Deferred Revenue	$0
Other Current Liabilities	$579M
TOTAL CURRENT LIABILITIES	$1.6B
Long-Term Debt	$3.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$65M
Other Non-Current Liabilities	$213M
TOTAL NON-CURRENT LIABILITIES	$4.8B
TOTAL LIABILITIES	$6.3B
Common Stock	$108M
Additional Paid-In Capital	$794M
Retained Earnings	-$1.4B
Treasury Stock	-$822M
Accum. Other Comp. Income	$74M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	-$1.3B
Minority Interest	$2M
TOTAL EQUITY	-$1.3B
TOTAL LIABILITIES & EQUITY	$5.1B
Total Debt	$5.0B
Net Debt	$4.0B