Best Buy (BBY)
Market Price (10/16/2026): $93.99 | Market Cap: $19.9 BilInvestor Relations Sector: Consumer Discretionary | Industry: Computer & Electronics Retail
Best Buy (BBY)
Market Price (10/16/2026): $93.99Market Cap: $19.9 BilSector: Consumer DiscretionaryIndustry: Computer & Electronics Retail
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 4.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.1%, FCF Yield is 8.9% Attractive cash flow generationCFO LTM is 2.5 Bil Low stock price volatilityVol 12M is 37% Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Digital Health & Telemedicine. Themes include Online Marketplaces, Show more. | Trading close to highsDist 52W High is -0.7%, Dist 3Y High is -0.7% Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -24% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.6% Key risksBBY key risks include [1] intense competition from dominant online platforms and [2] the "showrooming effect" where customers use its physical stores for product research before purchasing from a competitor. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 10%, Dividend Yield is 4.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.1%, FCF Yield is 8.9% |
| Attractive cash flow generationCFO LTM is 2.5 Bil |
| Low stock price volatilityVol 12M is 37% |
| Megatrend and thematic driversMegatrends include E-commerce & Digital Retail, Experience Economy & Premiumization, and Digital Health & Telemedicine. Themes include Online Marketplaces, Show more. |
| Trading close to highsDist 52W High is -0.7%, Dist 3Y High is -0.7% |
| Weak multi-year price returns2Y Excs Rtn is -28%, 3Y Excs Rtn is -24% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.6% |
| Key risksBBY key risks include [1] intense competition from dominant online platforms and [2] the "showrooming effect" where customers use its physical stores for product research before purchasing from a competitor. |
Qualitative Assessment
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Best Buy (BBY) stock has gained about 25% since 6/30/2026 because of the following key factors:
1. Best Buy reported stronger-than-expected results for fiscal Q2 2027 and subsequently raised its full-year financial guidance.
The company announced its fiscal Q2 2027 earnings on August 27, 2026, reporting an adjusted diluted EPS of $1.47, surpassing the consensus estimate of $1.39 by $0.08. Revenue also exceeded expectations, rising 3.6% year-over-year to $9.78 billion against an anticipated $9.59 billion. Enterprise comparable sales grew by 4.1%, significantly outperforming the company's guidance of approximately 1%. Following these strong results, Best Buy increased its full-year adjusted diluted EPS guidance to a range of $6.70 to $6.90, up from the previous $6.30 to $6.60, and lifted its revenue outlook to $42.30 billion to $42.80 billion from $41.2 billion to $42.1 billion. The company also raised its full-year comparable sales growth forecast to 1.9% to 3.0%, a substantial increase from its prior outlook of a 1.0% decline to 1.0% growth.
2. The company experienced robust growth in higher-margin strategic initiatives and emerging product categories.
Domestic comparable sales for fiscal Q2 2027 increased by 4.5%, driven by strong performance in computing, home theater, and emerging categories such as AI glasses. Best Buy also saw significant contributions from its Best Buy Ads and Marketplace initiatives, which enhanced its Domestic gross profit rate. The Best Buy Ads business is projected to grow 10% in fiscal 2027, and the guidance for Marketplace Gross Merchandise Volume (GMV) was raised to $1.3 billion. The company is actively diversifying its product assortment into high-growth areas like trading cards, health rings, and AI smart glasses, which have reportedly doubled sales in these segments.
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Best Buy (BBY) stock has gained about 25% since 6/30/2026 because of the following key factors:
1. Best Buy reported stronger-than-expected results for fiscal Q2 2027 and subsequently raised its full-year financial guidance.
The company announced its fiscal Q2 2027 earnings on August 27, 2026, reporting an adjusted diluted EPS of $1.47, surpassing the consensus estimate of $1.39 by $0.08. Revenue also exceeded expectations, rising 3.6% year-over-year to $9.78 billion against an anticipated $9.59 billion. Enterprise comparable sales grew by 4.1%, significantly outperforming the company's guidance of approximately 1%. Following these strong results, Best Buy increased its full-year adjusted diluted EPS guidance to a range of $6.70 to $6.90, up from the previous $6.30 to $6.60, and lifted its revenue outlook to $42.30 billion to $42.80 billion from $41.2 billion to $42.1 billion. The company also raised its full-year comparable sales growth forecast to 1.9% to 3.0%, a substantial increase from its prior outlook of a 1.0% decline to 1.0% growth.
2. The company experienced robust growth in higher-margin strategic initiatives and emerging product categories.
Domestic comparable sales for fiscal Q2 2027 increased by 4.5%, driven by strong performance in computing, home theater, and emerging categories such as AI glasses. Best Buy also saw significant contributions from its Best Buy Ads and Marketplace initiatives, which enhanced its Domestic gross profit rate. The Best Buy Ads business is projected to grow 10% in fiscal 2027, and the guidance for Marketplace Gross Merchandise Volume (GMV) was raised to $1.3 billion. The company is actively diversifying its product assortment into high-growth areas like trading cards, health rings, and AI smart glasses, which have reportedly doubled sales in these segments.
3. Positive sentiment from investment analysts led to multiple upgrades and increased price targets.
Several analyst firms revised their ratings and price targets upwards for Best Buy during the period. Truist upgraded the stock to a "Buy" on August 11, 2026, raising its price target to $95, citing accelerated credit card spending and emerging AI product cycles. On August 28, 2026, Guggenheim boosted its price target from $90.00 to $95.00, maintaining a "Buy" rating. Wells Fargo & Company increased its target price from $65.00 to $85.00 on August 11, 2026. Further positive adjustments included Evercore raising its price target from $85.00 to $90.00 on September 29, 2026, and Wall Street Zen upgrading Best Buy from "hold" to "buy" on October 11, 2026. Seeking Alpha also upgraded the stock to a "buy" rating on October 1, 2026, based on rebounding fundamentals and attractive valuation.
4. One-time tariff refunds provided an additional boost to profitability.
Best Buy's fiscal Q2 2027 results included a benefit of approximately $34 million from tariff refunds. This one-time item significantly contributed to the quarter's gross profit and had an estimated impact of $0.16 on pro forma EPS. The company anticipates a similar benefit from tariff refunds in fiscal Q3 2027 before this factor diminishes.
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Stock Movement Drivers
Fundamental Drivers
The 25.4% change in BBY stock from 6/30/2026 to 10/15/2026 was primarily driven by a 13.2% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10152026 | Change |
|---|---|---|---|
| Stock Price ($) | 75.09 | 94.17 | 25.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 41,860 | 42,201 | 0.8% |
| Net Income Margin (%) | 2.7% | 3.0% | 10.4% |
| P/E Multiple | 13.8 | 15.6 | 13.2% |
| Shares Outstanding (Mil) | 210 | 211 | -0.4% |
| Cumulative Contribution | 25.4% |
Market Drivers
6/30/2026 to 10/15/2026| Return | Correlation | |
|---|---|---|
| BBY | 25.4% | |
| Market (SPY) | 3.4% | 11.3% |
| Sector (XLY) | -4.9% | 27.1% |
Fundamental Drivers
The 50.2% change in BBY stock from 3/31/2026 to 10/15/2026 was primarily driven by a 27.1% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10152026 | Change |
|---|---|---|---|
| Stock Price ($) | 62.70 | 94.17 | 50.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 41,691 | 42,201 | 1.2% |
| Net Income Margin (%) | 2.6% | 3.0% | 17.6% |
| P/E Multiple | 12.3 | 15.6 | 27.1% |
| Shares Outstanding (Mil) | 210 | 211 | -0.7% |
| Cumulative Contribution | 50.2% |
Market Drivers
3/31/2026 to 10/15/2026| Return | Correlation | |
|---|---|---|
| BBY | 50.2% | |
| Market (SPY) | 19.0% | 13.5% |
| Sector (XLY) | 2.5% | 27.6% |
Fundamental Drivers
The 31.2% change in BBY stock from 9/30/2025 to 10/15/2026 was primarily driven by a 61.2% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10152026 | Change |
|---|---|---|---|
| Stock Price ($) | 71.80 | 94.17 | 31.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 41,598 | 42,201 | 1.4% |
| Net Income Margin (%) | 1.9% | 3.0% | 61.2% |
| P/E Multiple | 19.5 | 15.6 | -19.9% |
| Shares Outstanding (Mil) | 212 | 211 | 0.1% |
| Cumulative Contribution | 31.2% |
Market Drivers
9/30/2025 to 10/15/2026| Return | Correlation | |
|---|---|---|
| BBY | 31.2% | |
| Market (SPY) | 16.8% | 23.1% |
| Sector (XLY) | -6.4% | 31.5% |
Fundamental Drivers
The 56.9% change in BBY stock from 9/30/2023 to 10/15/2026 was primarily driven by a 53.8% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10152026 | Change |
|---|---|---|---|
| Stock Price ($) | 60.03 | 94.17 | 56.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 44,372 | 42,201 | -4.9% |
| Net Income Margin (%) | 2.9% | 3.0% | 3.7% |
| P/E Multiple | 10.2 | 15.6 | 53.8% |
| Shares Outstanding (Mil) | 219 | 211 | 3.5% |
| Cumulative Contribution | 56.9% |
Market Drivers
9/30/2023 to 10/15/2026| Return | Correlation | |
|---|---|---|
| BBY | 56.9% | |
| Market (SPY) | 86.7% | 41.4% |
| Sector (XLY) | 41.7% | 44.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BBY Return | 4% | -17% | 3% | 14% | -18% | 38% | 15% |
| Peers Return | 157% | -31% | 20% | 42% | -8% | 20% | 233% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 14% | 108% |
Monthly Win Rates [3] | |||||||
| BBY Win Rate | 42% | 25% | 42% | 58% | 50% | 50% | |
| Peers Win Rate | 60% | 38% | 62% | 67% | 47% | 52% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BBY Max Drawdown | -30% | -41% | -29% | -17% | -38% | -22% | |
| Peers Max Drawdown | -30% | -44% | -29% | -27% | -31% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AMZN, WMT, HD, TGT, GME. See BBY Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/15/2026 (YTD)
How Low Can It Go
| Event | BBY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.6% | -18.8% |
| % Gain to Breakeven | 60.2% | 23.1% |
| Time to Breakeven | 463 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.0% | -9.5% |
| % Gain to Breakeven | 33.4% | 10.5% |
| Time to Breakeven | 139 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -19.8% | -6.7% |
| % Gain to Breakeven | 24.7% | 7.1% |
| Time to Breakeven | 321 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.4% | -24.5% |
| % Gain to Breakeven | 57.2% | 32.4% |
| Time to Breakeven | 607 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -43.7% | -33.7% |
| % Gain to Breakeven | 77.8% | 50.9% |
| Time to Breakeven | 120 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.2% | -19.2% |
| % Gain to Breakeven | 54.3% | 23.8% |
| Time to Breakeven | 101 days | 105 days |
In The Past
Best Buy's stock fell -37.6% during the 2025 US Tariff Shock. Such a loss loss requires a 60.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | BBY | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -37.6% | -18.8% |
| % Gain to Breakeven | 60.2% | 23.1% |
| Time to Breakeven | 463 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -25.0% | -9.5% |
| % Gain to Breakeven | 33.4% | 10.5% |
| Time to Breakeven | 139 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.4% | -24.5% |
| % Gain to Breakeven | 57.2% | 32.4% |
| Time to Breakeven | 607 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -43.7% | -33.7% |
| % Gain to Breakeven | 77.8% | 50.9% |
| Time to Breakeven | 120 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.2% | -19.2% |
| % Gain to Breakeven | 54.3% | 23.8% |
| Time to Breakeven | 101 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -24.7% | -17.9% |
| % Gain to Breakeven | 32.8% | 21.8% |
| Time to Breakeven | 616 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -31.1% | -15.4% |
| % Gain to Breakeven | 45.2% | 18.2% |
| Time to Breakeven | 1218 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -66.9% | -53.4% |
| % Gain to Breakeven | 202.5% | 114.4% |
| Time to Breakeven | 2919 days | 1085 days |
In The Past
Best Buy's stock fell -37.6% during the 2025 US Tariff Shock. Such a loss loss requires a 60.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Best Buy (BBY)
Best Buy Co., Inc. (BBY) is a leading North American retailer specializing in technology products and services. The company operates across the United States and Canada, serving as a comprehensive destination for electronics, appliances, and related solutions through its extensive network of physical stores and e-commerce platforms.
The company's core product offerings are diverse, encompassing computing devices such as desktops, notebooks, tablets, and mobile phones, alongside a wide array of consumer electronics including home theater systems, digital imaging products, smart home devices, and portable audio. Best Buy also sells major appliances like refrigerators, ovens, and laundry machines, as well as entertainment products like gaming hardware and software. Beyond product sales, Best Buy provides significant value through its services, which include consultation, delivery, installation, repair, technical support (notably via Geek Squad), and various membership and warranty programs.
Best Buy primarily targets individual consumers seeking technology and home appliance solutions. Additionally, through specialized offerings like Best Buy Business and Best Buy Health, it extends its reach to cater to the needs of businesses and healthcare-focused clients. Its market presence is primarily segmented into domestic operations within the U.S. and international operations in Canada.
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Here are 1-3 brief analogies for Best Buy (BBY):
- Like Amazon, but primarily for consumer electronics and appliances, with the added benefit of physical stores and dedicated in-person services.
- The Home Depot or Lowe's of technology and home appliances, providing both products and installation/repair services.
- A specialized Target or Walmart for all things consumer electronics and major appliances, known for its extensive selection and in-store expertise.
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- Electronics: Offers a wide range of computing devices, mobile phones, home theater systems, smart home devices, and related accessories.
- Appliances: Sells major household appliances such as refrigerators, washing machines, ovens, and various small kitchen and home appliances.
- Entertainment Products: Provides gaming hardware and software, drones, movies, music, and other recreational technology items.
- Other General Merchandise: Features a selection of products including baby items, food and beverage, luggage, outdoor living goods, and sporting equipment.
- Customer Solutions Services: Includes consultation, design, delivery, installation, set-up, repair, and technical support for products, along with warranty services.
- Health-Related Services: Offers specialized services focused on health technology and wellness solutions.
- Memberships: Provides various subscription programs that offer exclusive benefits and enhanced services to members.
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Best Buy (BBY) primarily sells to **individuals** (Business-to-Consumer or B2C). Based on the company description, its core business involves retailing technology products through stores and websites to the general public. While it does have some business-to-business (B2B) operations, the majority of its revenue comes from individual customers.
The major categories of customers Best Buy serves include:
- General Consumers and Households: This is Best Buy's largest customer segment, comprising individuals and families who purchase a wide range of technology products such as computers, mobile phones, home theater systems, appliances, gaming consoles, and various smart home devices for personal and household use. They also utilize services like Geek Squad for installation, repair, and technical support.
- Small Businesses and Organizations: Best Buy serves this segment through its "Best Buy Business" division. These customers typically include small to medium-sized businesses, educational institutions, and other organizations that purchase technology products in bulk, require commercial-grade equipment, or need specialized IT and installation services for their operations.
- Individuals Seeking Health and Wellness Technology: Through initiatives like "Best Buy Health," "Current Health," and "Lively," Best Buy caters to individuals interested in health and fitness trackers, smart health monitoring devices, and services designed to support independent living, often targeting seniors and their caregivers with products and services focused on well-being and safety.
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- Apple Inc. (AAPL)
- Samsung Electronics Co., Ltd. (005930.KS)
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Corie Barry Chief Executive Officer
Corie Barry is the CEO of Best Buy Co. Inc.. She joined Best Buy in 1999 and has held various financial and operational roles across the organization. Prior to becoming CEO in June 2019, she served as Chief Financial Officer starting in 2016, and before that, as Chief Strategic Growth Officer. She also held positions as Senior Vice President of Domestic Finance and interim President of Best Buy's services organization. Before joining Best Buy, Ms. Barry began her career as an auditor at Deloitte & Touche. She also serves on the board of directors for Domino's Pizza.
Matt Bilunas Senior Executive Vice President, Chief Financial and Strategy Officer
Matt Bilunas is the Senior Executive Vice President and Chief Financial and Strategy Officer for Best Buy Co. Inc.. In this role, he oversees all aspects of global finance, including audit, procurement, financial services, enterprise strategy, real estate, and omnichannel operations. Mr. Bilunas joined Best Buy in 2006 and has served in a variety of financial leadership roles within the company. Before becoming CFO, he was the Senior Vice President of Enterprise and Merchandise Finance. Prior to Best Buy, Mr. Bilunas worked at Carlson Companies, NRG Energy, Inc., Bandag, Inc., and KPMG.
Jason Bonfig Senior Executive Vice President, Chief Customer, Product and Fulfillment Officer
Jason Bonfig is the Senior Executive Vice President and Chief Customer, Product and Fulfillment Officer at Best Buy Co. Inc.. He is responsible for all elements of merchandising, e-commerce, supply chain, and marketing, including Best Buy's retail media network, Best Buy Ads. He also oversees the Best Buy Canada business. Mr. Bonfig joined Best Buy as a merchant in 1999 and has led various product categories. His previous roles include Chief Merchandising Officer and Chief Category Officer for computing, mobile, gaming, health and wellness, accessories, and Exclusive Brands.
Mark Irvin Executive Vice President and Chief Supply Chain Officer
Mark Irvin is the Executive Vice President and Chief Supply Chain Officer for Best Buy Co. Inc.. He oversees the strategy and operations of the company's global supply chain network. Mr. Irvin joined Best Buy in 2013 as Senior Director of Distribution and Fulfillment Operations. Before his current role, he served as Best Buy's Chief Inclusion and Talent Officer. With over 30 years of supply chain leadership experience, Mr. Irvin held various supply chain leadership positions at Target for 11 years, as well as at Cummins Inc., Corporate Express Delivery Systems, and Baxter Healthcare prior to Best Buy. He also served in the U.S. Armed Forces for eight years in field medical logistics, achieving the rank of captain.
Kamy Scarlett Senior Executive Vice President, Chief Human Resources and Corporate Affairs Officer
Kamy Scarlett is the Senior Executive Vice President and Chief Human Resources and Corporate Affairs Officer for Best Buy Co. Inc.. She is responsible for the talent and well-being of the company's employees, as well as communications and public affairs. Ms. Scarlett joined Best Buy in 2014 and has held several leadership positions, including President of U.S. retail and Senior Executive Vice President of Best Buy Canada. Her career in retail spans over 30 years, with experience in operations, marketing, and human resources. Before joining Best Buy, she was the Chief Operating Officer at Grafton-Fraser Inc., and also held leadership roles at Loblaw Cos., Hudson's Bay Co., and Dylex Inc.. She serves on the board of Dollar General Corporation.
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1. Intense Competition and Evolving Retail Landscape
Best Buy operates in a highly competitive retail environment, contending with online giants like Amazon, large general merchandisers such as Walmart and Target, and direct-to-consumer sales from manufacturers like Apple and Samsung. This intense competition often leads to price pressure and the "showrooming" effect, where customers examine products in physical stores but purchase them online for lower prices. Best Buy's ability to maintain its market position relies on differentiating through its omnichannel convenience, store expertise, and services like Geek Squad.2. Macroeconomic Pressures and Shifting Consumer Spending
Best Buy's revenue and profitability are significantly influenced by general economic conditions, including economic fluctuations, inflation, and changes in consumer spending habits. A broader pullback in discretionary spending, particularly for big-ticket items such as home theater systems and appliances, directly impacts sales. Additionally, consumers are extending the replacement cycles for their electronic devices, which can lead to unpredictable or decreasing revenue growth rates for the company.3. Supply Chain Disruptions and Product Obsolescence
The consumer electronics industry is vulnerable to supply chain disruptions, such as global chip shortages, which can result in increased component costs, higher retail prices, and reduced product availability. The rapid pace of technological advancement also means that products can quickly become obsolete, creating inventory management challenges and risks associated with product cyclicality. These factors can impact Best Buy's ability to maintain optimal inventory levels, offer competitive pricing, and meet evolving consumer demand.AI Analysis | Feedback
The intensifying strategy of major technology and appliance manufacturers to establish and expand their direct-to-consumer (DTC) sales channels, coupled with their growing capabilities in providing comprehensive logistics, installation, and post-sale support directly to consumers, poses a clear emerging threat. These brands are increasingly investing in sophisticated online platforms, white-glove delivery, in-home setup services, and robust technical support and warranty fulfillment, aiming to own the entire customer lifecycle from purchase to upgrades. This direct engagement bypasses the traditional retail intermediary, such as Best Buy, by offering a full-service experience directly from the brand, thereby eroding Best Buy's value proposition as a retailer and service provider.
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United States Addressable Markets
- Smartphones: The United States smartphone market size was estimated at approximately USD 142.83 billion in 2024.
- Home Appliances (Major and Small): The U.S. home appliance market size was valued at USD 129.83 billion in 2024. This includes both major appliances (like refrigerators and washing machines) and small appliances. The small household appliances market alone was expected to reach US$27.17 billion in 2023.
- Smart Home Market: The U.S. smart home market size was valued at USD 28.30 billion in 2024.
- Gaming Market (Video Games): Consumer spending on games in the U.S. was well over $46 billion in 2023. The U.S. gaming market generated a revenue of USD 46.45 billion in 2024.
Canada Addressable Markets
- Consumer Electronics: The Canada Consumer Electronics Market size was valued at USD 125.57 billion in 2024.
- Smartphones: The Canada Smartphone Market size was USD 35.75 billion in 2024.
- Home Appliances (Major and Small): The Canada appliances market generated a revenue of USD 10.71 billion in 2024.
- Smart Home Market: The Canada smart home market generated a revenue of USD 9.07 billion in 2024.
- Gaming Market (Video Games): The Canada gaming market generated a revenue of USD 11.69 billion in 2024.
- Personal Computers: The Canada personal computers market generated a revenue of USD 5.9 billion in 2024.
- Tablet PCs: The Canada Tablet PC Market size was valued at USD 7.2 billion in 2023.
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Best Buy (BBY) anticipates several key drivers of future revenue growth over the next two to three years, primarily stemming from strategic initiatives and sustained demand in specific product categories.
One significant driver is the continued growth in key product categories, particularly **computing, mobile phones, and gaming**. The company has reported consistent positive comparable sales in computing, with desktop computers seeing substantial year-over-year growth due to factors like the Windows 11 transition. Strong demand for handheld gaming and augmented reality glasses also contributes to the growth in the gaming segment, and mobile phone sales continue to perform well. Best Buy expects this momentum in these categories to persist.
Another crucial driver is the **expansion of the Best Buy Marketplace and its retail media network, Best Buy Ads**. These initiatives are identified as core future drivers, with the marketplace significantly increasing the number of sellers and SKUs online, positively impacting gross profit rates. The retail media network is also highly profitable and contributes to gross profit. Best Buy has set fiscal 2027 revenue targets that explicitly incorporate growth from these marketplace and advertising initiatives.
Best Buy is also focusing on **strategic investments in AI-powered discovery platforms and enhanced digital customer experiences**. The company is actively working on integrating its product catalog with AI-powered discovery and purchasing environments, aiming to adapt to evolving digital shopping behaviors. Additionally, investments in AI advancements for customer support have already led to a decline in customer contacts and improved experience scores, indirectly supporting sales through a better customer journey.
Finally, the **growth of the Best Buy Business segment** is expected to contribute to revenue. This division, which serves organizations across education, hospitality, healthcare, and corporate enterprises, exceeded $1.1 billion in revenue in fiscal 2026 and is projected to achieve mid-single-digit revenue growth in fiscal 2027. These engagements often combine product sales with value-added services such as installation and lifecycle management.
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Share Repurchases
- Best Buy repurchased approximately $500 million of its shares in fiscal 2025.
- In fiscal 2024, the company's share repurchases amounted to approximately $339 million.
- The company expects to spend approximately $300 million on share repurchases during fiscal 2027.
Share Issuance
- Best Buy Co., Inc.'s issuance of common shares was USD 5.0 million in 2026.
- The company's shares outstanding have decreased over the last ten years by about one-third, from 311.1 million in 2017 to 209.9 million at the end of last year.
Outbound Investments
- In fiscal 2022, Best Buy acquired Current Health Ltd. and Two Peaks, LLC d/b/a Yardbird Furniture.
- The acquisition of Current Health occurred in October 2021 for $400 million.
- Best Buy invested up to $10 million with Brown Venture Group, a venture capital firm focusing on Black, Latino, and Indigenous technology startups.
Capital Expenditures
- Best Buy incurred $706 million in capital expenditures for fiscal 2025.
- Capital expenditures are expected to be approximately $750 million for fiscal 2027.
- The primary focus of capital expenditures includes optimizing the store fleet, enhancing supply chain systems and processes, and investing in digital transformation, customer experience improvements, and new initiatives like Best Buy Marketplace and Best Buy Ads.
Peer Outperformance in Computer & Electronics Retail
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -18.2% | 81.7% | 87.3% | CVSA 256% · PRDO 231% · LRN 143% |
| Homebuilding | 18 | -8.2% | 33.7% | 44.5% | GRBK 190% · PHM 145% · TOL 134% |
| Specialty Stores | 7 | 15.0% | 37.1% | 17.5% | ASO 44% · DKS 32% · FIVE 17% |
| Hotels, Resorts & Cruise Lines | 21 | 12.0% | 38.6% | 13.6% | RCL 236% · MAR 151% · HLT 141% |
| Home Furnishings | 3 | -2.8% | 49.6% | 3.0% | SGI 47% · MHK -33% |
| Home Improvement Retail | 4 | -17.8% | 8.4% | -0.9% | HD 0% · LOW -2% · FND -64% |
| Automotive Retail | 18 | -15.0% | -0.2% | -8.4% | MUSA 237% · PAG 132% · ORLY 111% |
| Footwear | 9 | 72.5% | 53.0% | -9.1% | DECK 45% · SHOO 21% · CROX -9% |
| Specialized Consumer Services | 10 | -13.9% | 21.7% | -13.3% | HRB 130% · FTDR 79% · SCI 41% |
| Distributors | 4 | -9.0% | -25.4% | -16.1% | ARMK 122% · GPC 21% · LKQ -53% |
| Restaurants | 36 | -6.7% | -9.5% | -19.9% | EAT 331% · CAKE 205% · TXRH 104% |
| Apparel Retail | 26 | 2.0% | 8.8% | -36.8% | ANF 288% · TJX 142% · ROST 128% |
| Household Appliances | 17 | -4.6% | 16.4% | -37.0% | |
| Computer & Electronics Retail ← | 3 | 19.8% | 54.0% | -38.8% | BBY 5% · GME -39% |
| Leisure Facilities | 12 | 7.4% | -9.6% | -43.4% | LTH 137% · OSW 122% · PLNT -42% |
| Leisure Products | 14 | -21.1% | -15.6% | -46.0% | GOLF 75% · HAS 30% · MAT -12% |
| Automotive Parts & Equipment | 39 | -9.9% | -23.6% | -46.9% | MOD 1173% · GTX 266% · BWA 52% |
| Apparel, Accessories & Luxury Goods | 29 | -0.2% | 18.8% | -48.7% | RL 263% · TPR 233% · KTB 68% |
| Casinos & Gaming | 20 | -11.6% | -26.1% | -49.6% | MCRI 91% · BYD 12% · RRR 10% |
| Broadline Retail | 14 | -3.7% | 34.2% | -52.1% | EBAY 79% · AMZN 49% · OLLI 45% |
| Automobile Manufacturers | 8 | -65.3% | -56.1% | -77.7% | GM 50% · TSLA 29% · F 7% |
| Consumer Electronics | 11 | -29.8% | -32.5% | -77.9% | GRMN 102% · SONO -45% |
| Other Specialty Retail | 17 | -33.9% | -39.3% | -78.9% | ULTA 46% · TSCO -9% · BBWI -67% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 137.03 |
| Mkt Cap | 188.7 |
| Rev LTM | 138,440 |
| Op Inc LTM | 13,522 |
| FCF LTM | 3,112 |
| FCF 3Y Avg | 8,652 |
| CFO LTM | 13,751 |
| CFO 3Y Avg | 13,366 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.2% |
| Rev Chg 3Y Avg | 1.5% |
| Rev Chg Q | 5.5% |
| QoQ Delta Rev Chg LTM | 1.4% |
| Op Inc Chg LTM | 11.2% |
| Op Inc Chg 3Y Avg | 12.2% |
| Op Mgn LTM | 8.8% |
| Op Mgn 3Y Avg | 5.6% |
| QoQ Delta Op Mgn LTM | 0.4% |
| CFO/Rev LTM | 9.6% |
| CFO/Rev 3Y Avg | 9.0% |
| FCF/Rev LTM | 4.2% |
| FCF/Rev 3Y Avg | 3.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 188.7 |
| P/S | 1.5 |
| P/Op Inc | 20.0 |
| P/EBIT | 14.9 |
| P/E | 18.2 |
| P/CFO | 16.6 |
| Total Yield | 7.4% |
| Dividend Yield | 1.9% |
| FCF Yield 3Y Avg | 3.8% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 1.9% |
| 3M Rtn | 7.1% |
| 6M Rtn | 6.2% |
| 12M Rtn | 18.5% |
| 3Y Rtn | 73.7% |
| 1M Excs Rtn | -0.5% |
| 3M Excs Rtn | 2.7% |
| 6M Excs Rtn | -4.7% |
| 12M Excs Rtn | 1.3% |
| 3Y Excs Rtn | -12.2% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Computing and Mobile Phones | 19,714 | 18,681 | 18,482 | 19,766 | 22,478 |
| Consumer Electronics | 11,460 | 12,065 | 12,969 | 14,094 | 16,203 |
| Appliances | 4,469 | 4,910 | 5,804 | 6,736 | 7,167 |
| Entertainment | 3,092 | 2,908 | 3,363 | 3,053 | 3,275 |
| Services | 2,656 | 2,631 | 2,530 | 2,332 | 2,380 |
| Other | 300 | 333 | 304 | 317 | 258 |
| Total | 41,691 | 41,528 | 43,452 | 46,298 | 51,761 |
| $ Mil | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|
| Domestic | 1,585 | 1,437 | 1,145 | 734 | 1,855 |
| International | -210 | 13 | -5 | -859 | -770 |
| Total | 1,375 | 1,450 | 1,140 | -125 | 1,085 |
| $ Mil | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|
| Domestic | 12,318 | 12,998 | 11,146 | 10,874 | 9,592 |
| International | 1,201 | 2,258 | 2,867 | 5,913 | 6,413 |
| Total | 13,519 | 15,256 | 14,013 | 16,787 | 16,005 |
Price Behavior
| Market Price | $94.17 | |
| Market Cap ($ Bil) | 19.9 | |
| First Trading Date | 04/19/1985 | |
| Distance from 52W High | -0.7% | |
| 50 Days | 200 Days | |
| DMA Price | $87.23 | $72.29 |
| DMA Trend | up | up |
| Distance from DMA | 8.0% | 30.3% |
| 3M | 1YR | |
| Volatility | 37.8% | 37.4% |
| Downside Capture | 25.31 | 65.01 |
| Upside Capture | 34.56 | 72.71 |
| Correlation (S&P 500) | 6.1% | 18.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.28 | 0.84 | 0.59 | 0.54 | 0.74 | 1.04 |
| Up Beta | -1.91 | -0.19 | -1.23 | -0.16 | 0.53 | 0.98 |
| Down Beta | 0.57 | 0.51 | 0.81 | 0.47 | 0.77 | 1.12 |
| Up Capture | 222% | 125% | 151% | 106% | 79% | 98% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 11 | 22 | 37 | 69 | 123 | 370 |
| Down Capture | 64% | 115% | 66% | 52% | 80% | 102% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 11 | 20 | 27 | 57 | 129 | 380 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BBY | |
|---|---|---|---|---|
| BBY | 28.6% | 37.4% | 0.74 | - |
| Sector ETF (XLY) | -4.3% | 19.1% | -0.36 | 28.0% |
| Equity (SPY) | 17.6% | 12.7% | 0.99 | 17.8% |
| Gold (GLD) | 0.5% | 29.5% | 0.02 | 0.2% |
| Commodities (DBC) | 50.9% | 20.7% | 1.88 | -17.2% |
| Real Estate (VNQ) | 4.7% | 13.7% | 0.08 | 25.4% |
| Bitcoin (BTCUSD) | -28.1% | 43.7% | -0.63 | 8.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BBY | |
|---|---|---|---|---|
| BBY | 2.0% | 38.0% | 0.14 | - |
| Sector ETF (XLY) | 4.8% | 24.1% | 0.16 | 51.1% |
| Equity (SPY) | 13.4% | 17.1% | 0.60 | 49.3% |
| Gold (GLD) | 18.5% | 18.9% | 0.79 | 2.2% |
| Commodities (DBC) | 9.7% | 19.5% | 0.38 | 7.4% |
| Real Estate (VNQ) | 1.1% | 18.8% | -0.05 | 43.1% |
| Bitcoin (BTCUSD) | 8.7% | 51.8% | 0.35 | 18.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BBY | |
|---|---|---|---|---|
| BBY | 13.6% | 38.2% | 0.45 | - |
| Sector ETF (XLY) | 11.9% | 22.2% | 0.49 | 55.2% |
| Equity (SPY) | 15.4% | 17.9% | 0.73 | 53.3% |
| Gold (GLD) | 12.2% | 16.4% | 0.61 | 3.0% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 16.8% |
| Real Estate (VNQ) | 5.0% | 20.7% | 0.20 | 43.2% |
| Bitcoin (BTCUSD) | 63.1% | 66.2% | 1.03 | 12.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 9/30/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/27/2026 | -4.4% | -0.5% | 4.6% |
| 5/28/2026 | 15.8% | 11.1% | 22.0% |
| 3/3/2026 | 7.1% | 7.1% | 5.8% |
| 11/25/2025 | 5.3% | -1.6% | -9.1% |
| 8/28/2025 | -3.7% | 2.1% | 2.2% |
| 5/29/2025 | -7.3% | -2.6% | -3.3% |
| 3/4/2025 | -13.3% | -9.1% | -13.2% |
| 11/26/2024 | -4.9% | -4.4% | -2.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 11 |
| # Negative | 10 | 13 | 13 |
| Median Positive | 6.2% | 7.1% | 12.4% |
| Median Negative | -5.9% | -2.6% | -7.4% |
| Max Positive | 15.8% | 23.7% | 22.0% |
| Max Negative | -13.3% | -22.6% | -29.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/27/2026 | -4.4% | -0.5% | 4.6% |
| 5/28/2026 | 15.8% | 11.1% | 22.0% |
| 3/3/2026 | 7.1% | 7.1% | 5.8% |
| 11/25/2025 | 5.3% | -1.6% | -9.1% |
| 8/28/2025 | -3.7% | 2.1% | 2.2% |
| 5/29/2025 | -7.3% | -2.6% | -3.3% |
| 3/4/2025 | -13.3% | -9.1% | -13.2% |
| 11/26/2024 | -4.9% | -4.4% | -2.9% |
| 8/29/2024 | 14.1% | 13.2% | 17.6% |
| 5/30/2024 | 13.4% | 23.7% | 18.4% |
| 2/29/2024 | 1.5% | -1.8% | 4.2% |
| 11/21/2023 | -0.7% | 4.3% | 12.4% |
| 8/29/2023 | 3.9% | -0.2% | -6.5% |
| 5/25/2023 | 3.1% | 5.4% | 19.1% |
| 3/2/2023 | -2.1% | -1.7% | -7.7% |
| 11/22/2022 | 12.8% | 18.8% | 15.1% |
| 8/30/2022 | 1.6% | -3.1% | -7.4% |
| 5/24/2022 | 1.2% | 13.0% | -0.6% |
| 3/3/2022 | 9.2% | 0.9% | -9.1% |
| 11/23/2021 | -12.3% | -22.6% | -29.0% |
| 8/24/2021 | 8.3% | 5.5% | -4.2% |
| 5/27/2021 | 1.0% | -1.2% | -2.7% |
| 2/25/2021 | -9.3% | -11.5% | 3.0% |
| 11/24/2020 | -7.0% | -10.8% | -15.7% |
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 11 |
| # Negative | 10 | 13 | 13 |
| Median Positive | 6.2% | 7.1% | 12.4% |
| Median Negative | -5.9% | -2.6% | -7.4% |
| Max Positive | 15.8% | 23.7% | 22.0% |
| Max Negative | -13.3% | -22.6% | -29.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 07/31/2026 | 09/04/2026 | 10-Q |
| 04/30/2026 | 06/05/2026 | 10-Q |
| 01/31/2026 | 03/18/2026 | 10-K |
| 10/31/2025 | 12/05/2025 | 10-Q |
| 07/31/2025 | 09/05/2025 | 10-Q |
| 04/30/2025 | 06/06/2025 | 10-Q |
| 01/31/2025 | 03/19/2025 | 10-K |
| 10/31/2024 | 12/06/2024 | 10-Q |
| 07/31/2024 | 09/06/2024 | 10-Q |
| 04/30/2024 | 06/07/2024 | 10-Q |
| 01/31/2024 | 03/15/2024 | 10-K |
| 10/31/2023 | 12/01/2023 | 10-Q |
| 07/31/2023 | 09/01/2023 | 10-Q |
| 04/30/2023 | 06/02/2023 | 10-Q |
| 01/31/2023 | 03/17/2023 | 10-K |
| 10/31/2022 | 12/06/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 07/31/2026 | 09/04/2026 | 10-Q |
| 04/30/2026 | 06/05/2026 | 10-Q |
| 01/31/2026 | 03/18/2026 | 10-K |
| 10/31/2025 | 12/05/2025 | 10-Q |
| 07/31/2025 | 09/05/2025 | 10-Q |
| 04/30/2025 | 06/06/2025 | 10-Q |
| 01/31/2025 | 03/19/2025 | 10-K |
| 10/31/2024 | 12/06/2024 | 10-Q |
| 07/31/2024 | 09/06/2024 | 10-Q |
| 04/30/2024 | 06/07/2024 | 10-Q |
| 01/31/2024 | 03/15/2024 | 10-K |
| 10/31/2023 | 12/01/2023 | 10-Q |
| 07/31/2023 | 09/01/2023 | 10-Q |
| 04/30/2023 | 06/02/2023 | 10-Q |
| 01/31/2023 | 03/17/2023 | 10-K |
| 10/31/2022 | 12/06/2022 | 10-Q |
| 07/31/2022 | 09/08/2022 | 10-Q |
| 04/30/2022 | 06/02/2022 | 10-Q |
| 01/31/2022 | 03/18/2022 | 10-K |
| 10/31/2021 | 12/03/2021 | 10-Q |
| 07/31/2021 | 08/31/2021 | 10-Q |
| 04/30/2021 | 06/04/2021 | 10-Q |
| 01/31/2021 | 03/19/2021 | 10-K |
| 10/31/2020 | 11/30/2020 | 10-Q |
| 07/31/2020 | 08/31/2020 | 10-Q |
| 04/30/2020 | 05/27/2020 | 10-Q |
| 01/31/2020 | 03/23/2020 | 10-K |
| 10/31/2019 | 12/06/2019 | 10-Q |
Recent Forward Guidance
Updated 8/28/2026Latest: Q2 2027 Earnings Reported 8/27/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2027 Comparable Sales Growth | Reported | 1.0% | 2.0% | 3.0% | 1.0% | Higher New | Guidance: 1.0% for Q2 2027 | |
| Q3 2027 Adjusted Operating Income Rate | Reported | 0.04 | 0.04 | 0.04 | 0.2% | Higher New | Guidance: 0.04 for Q2 2027 | |
| 2027 Comparable Sales Growth | Reported | 1.9% | 2.45% | 3.0% | 2.4% | Raised | Guidance: 0.0% for 2027 | |
| 2027 Revenue | Reported | 42.30 Bil | 42.55 Bil | 42.80 Bil | 2.2% | Raised | Guidance: 41.65 Bil for 2027 | |
| 2027 Adjusted Operating Income Rate | Reported | 0.04 | 0.04 | 0.05 | 0.1% | Raised | Guidance: 0.04 for 2027 | |
| 2027 Adjusted Diluted EPS | Reported | 6.7 | 6.8 | 6.9 | 5.4% | Raised | Guidance: 6.45 for 2027 | |
| 2027 Capital Expenditures | Reported | 750.00 Mil | 0 | Affirmed | Guidance: 750.00 Mil for 2027 | |||
Prior: Q1 2027 Earnings Reported 5/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2027 Comparable Sales Growth | Reported | 1.0% | ||||||
| Q2 2027 Adjusted Operating Income Rate | Reported | 0.04 | ||||||
| 2027 Comparable Sales % Change | Reported | -0.01 | 0 | 0.01 | 0 | Affirmed | Guidance: 0 for 2027 | |
| 2027 Revenue | Reported | 41.20 Bil | 41.65 Bil | 42.10 Bil | 0 | Affirmed | Guidance: 41.65 Bil for 2027 | |
| 2027 Adjusted Operating Income Rate | Reported | 0.04 | 0.04 | 0.04 | 0 | Affirmed | Guidance: 0.04 for 2027 | |
| 2027 Adjusted Effective Income Tax Rate | Reported | 25.5% | 0 | Affirmed | Guidance: 25.5% for 2027 | |||
| 2027 Adjusted Diluted EPS | Reported | 6.3 | 6.45 | 6.6 | 0 | Affirmed | Guidance: 6.45 for 2027 | |
| 2027 Capital Expenditures | Reported | 750.00 Mil | 0 | Affirmed | Guidance: 750.00 Mil for 2027 | |||
| 2027 Share Repurchases | Reported | 300.00 Mil | 0 | Affirmed | Guidance: 300.00 Mil for 2027 | |||
Q4 2026 Earnings Reported 3/3/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2027 Comparable Sales Growth | Reported | 1.0% | 1.0% | Higher New | Guidance: 0.0% for Q4 2026 | |||
| Q1 2027 Adjusted Operating Income Rate | Reported | 0.04 | -1.0% | Lower New | Guidance: 0.05 for Q4 2026 | |||
| 2027 Comparable Sales Growth | Reported | -1.0% | 0.0% | 1.0% | -0.8% | Lower New | Guidance: 0.85% for 2026 | |
| 2027 Revenue | Reported | 41.20 Bil | 41.65 Bil | 42.10 Bil | -0.4% | Lower New | Guidance: 41.80 Bil for 2026 | |
| 2027 Adjusted Operating Income Rate | Reported | 0.04 | 0.04 | 0.04 | 0.2% | Higher New | Guidance: 0.04 for 2026 | |
| 2027 Adjusted Effective Income Tax Rate | Reported | 25.5% | 0.1% | Higher New | Guidance: 25.4% for 2026 | |||
| 2027 Adjusted Diluted EPS | Reported | 6.3 | 6.45 | 6.6 | 2.4% | Higher New | Guidance: 6.3 for 2026 | |
| 2027 Capital Expenditures | Reported | 750.00 Mil | 7.1% | Higher New | Guidance: 700.00 Mil for 2026 | |||
| 2027 Share Repurchases | Reported | 300.00 Mil | 0.0% | Same New | Guidance: 300.00 Mil for 2026 | |||
Q3 2026 Earnings Reported 11/25/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Comparable Sales Growth | Reported | -1.0% | 0.0% | 1.0% | -1.6% | Lower New | Guidance: 1.6% for Q3 2026 | |
| Q4 2026 Adjusted Operating Income Rate | Reported | 0.05 | 0.05 | 0.05 | 1.2% | Higher New | Guidance: 0.04 for Q3 2026 | |
| 2026 Comparable Sales | Reported | 0.01 | 0.01 | 0.01 | 0.8% | Raised | Guidance: 0 for 2026 | |
| 2026 Revenue | Reported | 41.65 Bil | 41.80 Bil | 41.95 Bil | 0.7% | Raised | Guidance: 41.50 Bil for 2026 | |
| 2026 Adjusted Operating Income Rate | Reported | 0.04 | 0.0% | Affirmed | Guidance: 0.04 for 2026 | |||
| 2026 Adjusted Effective Income Tax Rate | Reported | 25.4% | 0.4% | Raised | Guidance: 25.0% for 2026 | |||
| 2026 Adjusted Diluted EPS | Reported | 6.25 | 6.3 | 6.35 | 1.2% | Raised | Guidance: 6.23 for 2026 | |
| 2026 Capital Expenditures | Reported | 700.00 Mil | 0.0% | Affirmed | Guidance: 700.00 Mil for 2026 | |||
| 2026 Share Repurchases | Reported | 300.00 Mil | 0.0% | Affirmed | Guidance: 300.00 Mil for 2026 | |||
Insider Activity
Updated 9/24/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Scarlett, Kathleen | SEVP, CHRO | Direct | Sell | 9242026 | 92.15 | 116,062 | 10,695,364 | 10,705,593 | Form |
| 2 | Schulze, Richard M | Family Foundation | Sell | 9182026 | 92.51 | 300,000 | Form | |||
| 3 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 7152026 | 82.21 | 300,000 | 24,663,254 | 783,546,312 | Form | |
| 4 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 7152026 | 82.22 | 600,000 | 49,329,669 | 808,261,373 | Form | |
| 5 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 6262026 | 78.10 | 224,705 | 17,550,382 | 814,698,868 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Scarlett, Kathleen | SEVP, CHRO | Direct | Sell | 9242026 | 92.15 | 116,062 | 10,695,364 | 10,705,593 | Form |
| 2 | Schulze, Richard M | Family Foundation | Sell | 9182026 | 92.51 | 300,000 | Form | |||
| 3 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 7152026 | 82.21 | 300,000 | 24,663,254 | 783,546,312 | Form | |
| 4 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 7152026 | 82.22 | 600,000 | 49,329,669 | 808,261,373 | Form | |
| 5 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 6262026 | 78.10 | 224,705 | 17,550,382 | 814,698,868 | Form | |
| 6 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 6262026 | 78.13 | 193,896 | 15,149,502 | 832,547,608 | Form | |
| 7 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 6172026 | 78.00 | 5,100 | 397,806 | 846,276,905 | Form | |
| 8 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 6172026 | 78.23 | 76,299 | 5,968,741 | 849,139,800 | Form | |
| 9 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 6022026 | 76.12 | 500,350 | 38,085,311 | 832,007,125 | Form | |
| 10 | Watson, Mathew | SVP, Controller & CAO | Direct | Sell | 6022026 | 73.80 | 1,784 | 131,659 | 1,596,294 | Form |
| 11 | Watson, Mathew | SVP, Controller & CAO | Direct | Sell | 3242026 | 64.02 | 3,298 | 211,135 | 1,484,729 | Form |
| 12 | Hartman, Todd G | GC, Chief Risk Officer | Direct | Sell | 3242026 | 64.02 | 5,339 | 341,797 | 2,823,107 | Form |
| 13 | Bonfig, Jason J | SEVP Cust Offer, Fulfill & Can | Direct | Sell | 3242026 | 64.02 | 6,336 | 405,624 | 5,066,272 | Form |
| 14 | Scarlett, Kathleen | SEVP, Corp Affairs & HR | Direct | Sell | 3242026 | 64.02 | 8,049 | 515,289 | 6,572,767 | Form |
| 15 | Bilunas, Matthew M | SEVP Enterprise Strategy & CFO | Direct | Sell | 3242026 | 64.02 | 11,356 | 727,000 | 4,922,037 | Form |
| 16 | Barry, Corie S | CEO | Direct | Sell | 3242026 | 64.02 | 42,869 | 2,744,431 | 33,490,749 | Form |
| 17 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 10312025 | 84.31 | 74,553 | 6,285,392 | 965,484,277 | Form | |
| 18 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 10312025 | 84.14 | 62,834 | 5,286,928 | 969,850,513 | Form | |
| 19 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 10282025 | 84.10 | 93,293 | 7,845,895 | 974,654,167 | Form | |
| 20 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 10282025 | 84.51 | 104,313 | 8,814,991 | 987,239,689 | Form | |
| 21 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 10282025 | 83.24 | 374,164 | 31,143,615 | 981,085,312 | Form | |
| 22 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 10222025 | 82.35 | 325,836 | 26,832,725 | 1,001,468,822 | Form | |
| 23 | Schulze, Richard M | Trustee for Revocable Trust | Sell | 10222025 | 80.83 | 500,000 | 40,416,480 | 1,009,353,412 | Form | |
| 24 | Watson, Mathew | SVP, Controller & CAO | Direct | Sell | 9052025 | 76.76 | 2,018 | 154,908 | 1,545,393 | Form |
| 25 | Schulze, Richard M | Family Foundation | Sell | 9032025 | 74.00 | 196,100 | Form | |||
| 26 | Watson, Mathew | SVP, Controller & CAO | Direct | Sell | 9032025 | 74.07 | 3,715 | 275,176 | 1,640,684 | Form |
Investor Activity (13F)
Updated Oct 16, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
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Industry Resources
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