Quality Investor

Build-A-Bear Workshop, Inc.

Rank #14Hypergrowth

BBW · NYSE · Consumer Cyclical

Build-A-Bear Workshop, Inc. (BBW) — Rank #14 by gross profitability (GP/assets 0.83) · ROE 32.8% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001113809 · all metrics point-in-time as of the filing date.

About

Build-A-Bear Workshop, Inc. operates as a mall-based, experiential specialty retailer for children in the United States, Canada, the United Kingdom, Ireland, North America, and Europe.

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It operates through three segments: Direct-to-Consumer, Commercial, and International Franchising. The company offers various styles of plush products to be stuffed, pre-stuffed plush products, and sounds and scents that can be added to the stuffed animals, as well as range of clothing, shoes and accessories, and other toy and novelty items. It operates its stores under the Build-A-Bear Workshop brand name; and sells its products through its e-commerce sites and third-party marketplace sites. Build-A-Bear Workshop, Inc.

was founded in 1997 and is headquartered in Saint Louis, Missouri.

Industry
Specialty Retail
Sector
Consumer Cyclical
State
DE
Filer Category
Accelerated filer
Fiscal Year End
January 30

Price History

BBW+88.2% · +13.5% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$319.46M

P/E (annual)

6.5

P/S (annual)

0.6

P/B

2.0

P/OCF (annual)

4.9

Shareholder Yield

19.9%

Employees

1,200

Industry

Specialty Retail

Exchange

NYSE

Signal Flags

1 green1 yellow
Revenue growth acceleratingGrowth rate increasing year over year
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

GP / assets
0.83
Return on equity
32.8%
Gross margin trend
N/A

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.23
Current ratio
1.53×
Net cash
$26.25M

Cash Flow

2/3 pass
Positive FCF
PASS
Cash-backed earnings
WARN
Accruals healthy
PASS
SBC / revenue
0.6%

Growth

2/2 pass
Revenue growth
45.5%
Piotroski F-Score
N/A
Share dilution
-16.3%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

3 of 5 thresholds not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

-4.0%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -16.3% — per-share value needs a total required return of -20.3% once share-count change is priced in.

vs. own 6-year median revenue growth: -2.6%

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

-7.6%

r = 10% (base)

-4.0%

r = 12%

-0.9%

Net debt / market cap: -7.7%

Base FCF: $39.5M3Y mean FCF: -$476.7K

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

17.2xCheap
7.8xmed 26.1x559.0x

P / S

Price / revenue per share

0.4xFair
0.2xmed 0.4x0.9x

P / B

Price / book value per share

1.3xFair
0.6xmed 1.3x3.7x

P / GP

Price / gross profit per share

N/A
0.6xmed 0.7x2.0x

P / FCF

Price / free cash flow per share

44.9xExpensive
5.8xmed 24.4x50493.1x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.83

Primary signal (Novy-Marx).

3rd of 14 SIC 59 peers

Return on equity

32.8%

Gross margin

55.8%

2nd of 14 SIC 59 peers

Revenue growth (YoY)

45.5%

Gross margin improving

Margin trend vs prior year.

N/A

Operating Leverage

2015201620162017
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

Revenue CAGR (5Y)

Earnings CAGR (3Y)

2.8%

FCF CAGR (3Y)

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.23

5th of 10 SIC 59 peers (best = lowest)

Current ratio

1.53×

9th of 14 SIC 59 peers

Quick ratio

0.60×

Net cash

$26.25M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$39.51M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

-0.24

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

WARN

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.6%

Stock-based comp intensity.

Dividend safety

Composite score

3.0 / 5

Good
Payout ratio
22.1%5/5 Strong
FCF coverage
3.43×5/5 Strong
Dividend growth streak
1 yr1/5 Weak
Balance-sheet health
D/E 1.23 · IC N/A1/5 Weak

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20122017
Startup
Value
Capital Return