# Specialty Retail — company-by-company sector analysis

> Specialty Retail: Best Buy Co., Inc. owns the largest revenue base; EVgo, Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Specialty Retail has underperformed S&P 500 by 3.6% over 52 weeks and 5.2% over 13 weeks. 9 of 27 covered companies beat the S&P 500 on Mansfield relative strength, while 10 of 27 beat the sector itself. Best Buy Co., Inc. leads with revenue of $41,860 million, based on 21 of 28 comparable companies through Jun 2026.

### Is the Specialty Retail sector outperforming S&P 500?

Specialty Retail has underperformed S&P 500 by 3.6% over 52 weeks and 5.2% over 13 weeks. 9 of 27 covered companies beat the S&P 500 on Mansfield relative strength, while 10 of 27 beat the sector itself.

### Which Specialty Retail company is largest by revenue?

Best Buy Co., Inc. leads with revenue of $41,860 million, based on 21 of 28 comparable companies through Jun 2026.

### Which Specialty Retail company is growing fastest?

EVgo, Inc. has the fastest current revenue growth at 50.4%, across 21 of 28 comparable companies.

### Which Specialty Retail company has the strongest 4-Factor Sector Score?

Five Below, Inc. ranks first at 69.9/100 with 86.2% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Specialty Retail company reports the most CAPEX?

DICK'S Sporting Goods, Inc. reports the largest latest CAPEX at $361 million, with 28 of 28 companies comparable.

### Which Specialty Retail company has the least gross debt?

Bed Bath & Beyond, Inc. has the lowest comparable gross debt at $22 million. DICK'S Sporting Goods, Inc. has the highest at $7,789 million.

### Which Specialty Retail company has the lowest comparable PEG?

Bath & Body Works, Inc. has the lowest comparable Guarded PEG at 0.24, among 14 of 28 companies that pass the metric’s comparability rules.

### How much history does this Specialty Retail comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Specialty Retail has underperformed S&P 500 by 3.6% over the last 52 weeks. Over 13 weeks the gap is a lead of 5.2%. 9 of 27 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Arko Corp. is the strongest against the sector itself at +30.5%.

13-week sector return versus NIFTY 500: 5.2%
52-week sector return versus NIFTY 500: -3.6%
Stocks leading NIFTY: 9/27
Stocks leading sector: 10/27

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 28
Combined market value: ₹1.9 L Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Five Below, Inc. (FIVE): 70/100 — Favorable setup; evidence 86%
   - Growth & earnings 31.0/35 | Capital efficiency 14.4/25 | Valuation 13.8/20 | Relative strength 10.7/20
   - Exact sum: 31 + 14.4 + 13.8 + 10.7 = 69.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. Best Buy Co., Inc. (BBY): 69/100 — Favorable setup; evidence 86%
   - Growth & earnings 23.6/35 | Capital efficiency 12.3/25 | Valuation 15.6/20 | Relative strength 17.9/20
   - Exact sum: 23.6 + 12.3 + 15.6 + 17.9 = 69.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. Casey's General Stores, Inc. (CASY): 62/100 — Mixed-positive evidence; evidence 86%
   - Growth & earnings 24.8/35 | Capital efficiency 14.2/25 | Valuation 10.0/20 | Relative strength 13.0/20
   - Exact sum: 24.8 + 14.2 + 10 + 13 = 62
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Murphy USA Inc. (MUSA): 61/100 — Mixed-positive evidence; evidence 82%
   - Growth & earnings 21.7/35 | Capital efficiency 10.7/25 | Valuation 14.2/20 | Relative strength 13.9/20
   - Exact sum: 21.7 + 10.7 + 14.2 + 13.9 = 60.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5. Williams-Sonoma, Inc. (WSM): 55/100 — Mixed-positive evidence; evidence 86%
   - Growth & earnings 13.7/35 | Capital efficiency 16.4/25 | Valuation 8.0/20 | Relative strength 17.0/20
   - Exact sum: 13.7 + 16.4 + 8 + 17 = 55.1
   - Decision use: Price leads the evidence: RS versus the benchmark is 10.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
6. MarineMax, Inc. (HZO): 54/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 19.1/35 | Capital efficiency 10.1/25 | Valuation 8.5/20 | Relative strength 16.7/20
   - Exact sum: 19.1 + 10.1 + 8.5 + 16.7 = 54.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7. Bath & Body Works, Inc. (BBWI): 54/100 — Mixed-positive evidence; evidence 81%
   - Growth & earnings 14.7/35 | Capital efficiency 14.6/25 | Valuation 16.5/20 | Relative strength 8.0/20
   - Exact sum: 14.7 + 14.6 + 16.5 + 8 = 53.8
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
8. Build-A-Bear Workshop, Inc. (BBW): 54/100 — Mixed-positive evidence; evidence 80%
   - Growth & earnings 17.8/35 | Capital efficiency 17.4/25 | Valuation 14.6/20 | Relative strength 3.7/20
   - Exact sum: 17.8 + 17.4 + 14.6 + 3.7 = 53.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9. GameStop Corp. (GME): 53/100 — Mixed-positive evidence; evidence 76%
   - Growth & earnings 25.3/35 | Capital efficiency 12.4/25 | Valuation 10.3/20 | Relative strength 4.8/20
   - Exact sum: 25.3 + 12.4 + 10.3 + 4.8 = 52.8
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -8.5% and the one-year return is 0.3%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
10. Barnes & Noble Education, Inc. (BNED): 50/100 — Thin evidence · provisional; evidence 53%
   - Growth & earnings 14.7/35 | Capital efficiency 8.4/25 | Valuation 10.1/20 | Relative strength 16.7/20
   - Exact sum: 14.7 + 8.4 + 10.1 + 16.7 = 49.9
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11. National Vision Holdings, Inc. (EYE): 49/100 — Thin evidence · provisional; evidence 53%
   - Growth & earnings 21.5/35 | Capital efficiency 12.8/25 | Valuation 9.3/20 | Relative strength 5.1/20
   - Exact sum: 21.5 + 12.8 + 9.3 + 5.1 = 48.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
12. Sally Beauty Holdings, Inc. (SBH): 48/100 — Mixed-negative evidence; evidence 76%
   - Growth & earnings 14.2/35 | Capital efficiency 11.3/25 | Valuation 11.5/20 | Relative strength 11.2/20
   - Exact sum: 14.2 + 11.3 + 11.5 + 11.2 = 48.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13. RH (RH): 46/100 — Mixed-negative evidence; evidence 78%
   - Growth & earnings 13.3/35 | Capital efficiency 7.1/25 | Valuation 14.2/20 | Relative strength 11.1/20
   - Exact sum: 13.3 + 7.1 + 14.2 + 11.1 = 45.7
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
14. Olaplex Holdings, Inc. (OLPX): 46/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 10.7/35 | Capital efficiency 9.8/25 | Valuation 9.0/20 | Relative strength 16.0/20
   - Exact sum: 10.7 + 9.8 + 9 + 16 = 45.5
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
15. Arko Corp. (ARKO): 43/100 — Mixed-negative evidence; evidence 69%
   - Growth & earnings 15.9/35 | Capital efficiency 5.5/25 | Valuation 4.6/20 | Relative strength 17.0/20
   - Exact sum: 15.9 + 5.5 + 4.6 + 17 = 43
   - Decision use: Price leads the evidence: RS versus the benchmark is 29.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
16. Arhaus, Inc. (ARHS): 42/100 — Mixed-negative evidence; evidence 76%
   - Growth & earnings 16.2/35 | Capital efficiency 8.2/25 | Valuation 13.1/20 | Relative strength 4.8/20
   - Exact sum: 16.2 + 8.2 + 13.1 + 4.8 = 42.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17. Academy Sports and Outdoors, Inc. (ASO): 42/100 — Mixed-negative evidence; evidence 86%
   - Growth & earnings 14.7/35 | Capital efficiency 11.8/25 | Valuation 10.3/20 | Relative strength 4.9/20
   - Exact sum: 14.7 + 11.8 + 10.3 + 4.9 = 41.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18. 1-800-FLOWERS.COM, Inc. (FLWS): 41/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 20.5/35 | Capital efficiency 5.2/25 | Valuation 8.6/20 | Relative strength 6.9/20
   - Exact sum: 20.5 + 5.2 + 8.6 + 6.9 = 41.2
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
19. Tractor Supply Company (TSCO): 40/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 13.9/35 | Capital efficiency 11.7/25 | Valuation 10.7/20 | Relative strength 3.8/20
   - Exact sum: 13.9 + 11.7 + 10.7 + 3.8 = 40.1
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
20. EVgo, Inc. (EVGO): 39/100 — Mixed-negative evidence; evidence 62%
   - Growth & earnings 21.0/35 | Capital efficiency 6.2/25 | Valuation 10.0/20 | Relative strength 2.0/20
   - Exact sum: 21 + 6.2 + 10 + 2 = 39.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21. OneWater Marine Inc. (ONEW): 38/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 12.0/35 | Capital efficiency 6.1/25 | Valuation 11.0/20 | Relative strength 9.2/20
   - Exact sum: 12 + 6.1 + 11 + 9.2 = 38.3
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22. Ulta Beauty, Inc. (ULTA): 37/100 — Mixed-negative evidence; evidence 86%
   - Growth & earnings 13.9/35 | Capital efficiency 11.6/25 | Valuation 7.5/20 | Relative strength 4.1/20
   - Exact sum: 13.9 + 11.6 + 7.5 + 4.1 = 37.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23. Savers Value Village, Inc. (SVV): 37/100 — Thin evidence · provisional; evidence 53%
   - Growth & earnings 11.5/35 | Capital efficiency 6.3/25 | Valuation 9.1/20 | Relative strength 9.7/20
   - Exact sum: 11.5 + 6.3 + 9.1 + 9.7 = 36.6
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
24. DICK'S Sporting Goods, Inc. (DKS): 36/100 — Mixed-negative evidence; evidence 86%
   - Growth & earnings 12.0/35 | Capital efficiency 12.8/25 | Valuation 5.6/20 | Relative strength 5.7/20
   - Exact sum: 12 + 12.8 + 5.6 + 5.7 = 36.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25. Bed Bath & Beyond, Inc. (BBBY): 36/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 14.2/35 | Capital efficiency 8.5/25 | Valuation 8.9/20 | Relative strength 4.1/20
   - Exact sum: 14.2 + 8.5 + 8.9 + 4.1 = 35.7
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
26. Petco Health and Wellness Company, Inc. (WOOF): 34/100 — Adverse evidence; evidence 68%
   - Growth & earnings 13.8/35 | Capital efficiency 5.7/25 | Valuation 8.7/20 | Relative strength 5.8/20
   - Exact sum: 13.8 + 5.7 + 8.7 + 5.8 = 34
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
27. Winmark Corporation (WINA): 50/100 — Thin evidence · provisional; evidence 47%
   - Growth & earnings 16.8/35 | Capital efficiency 19.2/25 | Valuation 9.5/20 | Relative strength 4.4/20
   - Exact sum: 16.8 + 19.2 + 9.5 + 4.4 = 49.9
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
28. Bob's Discount Furniture, Inc. (BOBS): 47/100 — Thin evidence · provisional; evidence 29%
   - Growth & earnings 17.1/35 | Capital efficiency 9.8/25 | Valuation 10.0/20 | Relative strength 10.0/20
   - Exact sum: 17.1 + 9.8 + 10 + 10 = 46.9
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Revenue Scale & Growth Durability

What the numbers say: Best Buy Co., Inc. is the scale leader at $41,860 million, 112.7% ahead of Murphy USA Inc.. EVgo, Inc.'s growth is 50.4% from a $418 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Best Buy Co., Inc. is the scale benchmark; EVgo, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Best Buy Co., Inc.'s growth falls below EVgo, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: Best Buy Co., Inc. · $41,860 million | 112.7% versus #2 · Murphy USA Inc. | 3/8 recent comparable periods | 21/28 companies · 524 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Best Buy Co., Inc. (BBY): ₹41.9K Cr
2. Murphy USA Inc. (MUSA): ₹19.7K Cr
3. DICK'S Sporting Goods, Inc. (DKS): ₹19.2K Cr
4. Casey's General Stores, Inc. (CASY): ₹17.6K Cr
5. Ulta Beauty, Inc. (ULTA): ₹12.7K Cr

### Revenue growth — fastest growers
1. EVgo, Inc. (EVGO): 50%
2. DICK'S Sporting Goods, Inc. (DKS): 41%
3. Five Below, Inc. (FIVE): 26%
4. Ulta Beauty, Inc. (ULTA): 11%
5. Casey's General Stores, Inc. (CASY): 10%

### 20-quarter Revenue history
- CASY: Sep 2021 ₹3.2K Cr | Dec 2021 ₹3.3K Cr | Mar 2022 ₹3.0K Cr | Jun 2022 ₹3.5K Cr | Sep 2022 ₹4.5K Cr | Dec 2022 ₹4.0K Cr | Mar 2023 ₹3.3K Cr | Jun 2023 ₹3.3K Cr | Sep 2023 ₹3.9K Cr | Dec 2023 ₹4.1K Cr | Mar 2024 ₹3.3K Cr | Jun 2024 ₹3.6K Cr | Sep 2024 ₹4.1K Cr | Dec 2024 ₹3.9K Cr | Mar 2025 ₹3.9K Cr | Jun 2025 ₹4.0K Cr | Sep 2025 ₹4.6K Cr | Dec 2025 ₹4.5K Cr | Mar 2026 ₹3.9K Cr | Jun 2026 ₹4.6K Cr
- WSM: Sep 2021 ₹1.9K Cr | Dec 2021 ₹2.0K Cr | Mar 2022 ₹2.5K Cr | Jun 2022 ₹1.9K Cr | Sep 2022 ₹2.1K Cr | Dec 2022 ₹2.2K Cr | Mar 2023 ₹2.5K Cr | Jun 2023 ₹1.8K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹1.9K Cr | Mar 2024 ₹2.3K Cr | Jun 2024 ₹1.7K Cr | Sep 2024 ₹1.8K Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹2.5K Cr | Jun 2025 ₹1.7K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.9K Cr | Mar 2026 ₹2.4K Cr | Jun 2026 ₹1.8K Cr
- ULTA: Sep 2021 ₹2.0K Cr | Dec 2021 ₹2.0K Cr | Mar 2022 ₹2.7K Cr | Jun 2022 ₹2.3K Cr | Sep 2022 ₹2.3K Cr | Dec 2022 ₹2.3K Cr | Mar 2023 ₹3.2K Cr | Jun 2023 ₹2.6K Cr | Sep 2023 ₹2.5K Cr | Dec 2023 ₹2.5K Cr | Mar 2024 ₹3.6K Cr | Jun 2024 ₹2.7K Cr | Sep 2024 ₹2.6K Cr | Dec 2024 ₹2.5K Cr | Mar 2025 ₹3.5K Cr | Jun 2025 ₹2.8K Cr | Sep 2025 ₹2.8K Cr | Dec 2025 ₹2.9K Cr | Mar 2026 ₹3.9K Cr | Jun 2026 ₹3.2K Cr
- DKS: Sep 2021 ₹3.3K Cr | Dec 2021 ₹2.7K Cr | Mar 2022 ₹3.4K Cr | Jun 2022 ₹2.7K Cr | Sep 2022 ₹3.1K Cr | Dec 2022 ₹3.0K Cr | Mar 2023 ₹3.6K Cr | Jun 2023 ₹2.8K Cr | Sep 2023 ₹3.2K Cr | Dec 2023 ₹3.0K Cr | Mar 2024 ₹3.9K Cr | Jun 2024 ₹3.0K Cr | Sep 2024 ₹3.5K Cr | Dec 2024 ₹3.1K Cr | Mar 2025 ₹3.9K Cr | Jun 2025 ₹3.2K Cr | Sep 2025 ₹3.6K Cr | Dec 2025 ₹4.2K Cr | Mar 2026 ₹6.2K Cr | Jun 2026 ₹5.2K Cr
- BBY: Sep 2021 ₹11.8K Cr | Dec 2021 ₹11.9K Cr | Mar 2022 ₹16.4K Cr | Jun 2022 ₹10.6K Cr | Sep 2022 ₹10.3K Cr | Dec 2022 ₹10.6K Cr | Mar 2023 ₹14.7K Cr | Jun 2023 ₹9.5K Cr | Sep 2023 ₹9.6K Cr | Dec 2023 ₹9.8K Cr | Mar 2024 ₹14.6K Cr | Jun 2024 ₹8.8K Cr | Sep 2024 ₹9.3K Cr | Dec 2024 ₹9.4K Cr | Mar 2025 ₹13.9K Cr | Jun 2025 ₹8.8K Cr | Sep 2025 ₹9.4K Cr | Dec 2025 ₹9.7K Cr | Mar 2026 ₹13.8K Cr | Jun 2026 ₹8.9K Cr
- TSCO: Sep 2021 ₹3.0K Cr | Dec 2021 ₹3.3K Cr | Mar 2022 ₹3.0K Cr | Jun 2022 ₹3.9K Cr | Sep 2022 ₹3.3K Cr | Dec 2022 ₹4.0K Cr | Mar 2023 — | Jun 2023 ₹3.3K Cr | Sep 2023 ₹4.2K Cr | Dec 2023 ₹3.7K Cr | Mar 2024 ₹3.4K Cr | Jun 2024 ₹4.2K Cr | Sep 2024 ₹3.5K Cr | Dec 2024 ₹3.8K Cr | Mar 2025 ₹3.5K Cr | Jun 2025 ₹4.4K Cr | Sep 2025 ₹3.7K Cr | Dec 2025 ₹3.9K Cr | Mar 2026 ₹3.6K Cr | Jun 2026 —
- FIVE: Sep 2021 ₹647 Cr | Dec 2021 ₹608 Cr | Mar 2022 ₹996 Cr | Jun 2022 ₹640 Cr | Sep 2022 ₹669 Cr | Dec 2022 ₹645 Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹726 Cr | Sep 2023 ₹759 Cr | Dec 2023 ₹736 Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹812 Cr | Sep 2024 ₹830 Cr | Dec 2024 ₹844 Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹971 Cr | Sep 2025 ₹1.0K Cr | Dec 2025 ₹1.0K Cr | Mar 2026 ₹1.7K Cr | Jun 2026 ₹1.3K Cr
- MUSA: Sep 2021 ₹4.6K Cr | Dec 2021 ₹4.8K Cr | Mar 2022 ₹5.1K Cr | Jun 2022 ₹6.8K Cr | Sep 2022 ₹6.2K Cr | Dec 2022 ₹5.4K Cr | Mar 2023 ₹5.1K Cr | Jun 2023 ₹5.6K Cr | Sep 2023 ₹5.8K Cr | Dec 2023 ₹5.1K Cr | Mar 2024 ₹4.8K Cr | Jun 2024 ₹5.5K Cr | Sep 2024 ₹5.2K Cr | Dec 2024 ₹4.7K Cr | Mar 2025 ₹4.5K Cr | Jun 2025 ₹5.0K Cr | Sep 2025 ₹5.1K Cr | Dec 2025 ₹4.7K Cr | Mar 2026 ₹4.8K Cr | Jun 2026 —
- GME: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.3K Cr | Mar 2022 ₹2.3K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹1.2K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.8K Cr | Jun 2024 ₹882 Cr | Sep 2024 ₹798 Cr | Dec 2024 ₹860 Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹732 Cr | Sep 2025 ₹972 Cr | Dec 2025 ₹821 Cr | Mar 2026 ₹1.1K Cr | Jun 2026 ₹835 Cr
- BBWI: Sep 2021 ₹1.7K Cr | Dec 2021 ₹1.7K Cr | Mar 2022 ₹3.0K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.6K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 ₹2.9K Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.6K Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹1.6K Cr | Mar 2025 ₹2.8K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹2.7K Cr | Jun 2026 ₹1.4K Cr
- RH: Sep 2021 ₹989 Cr | Dec 2021 ₹1.0K Cr | Mar 2022 ₹903 Cr | Jun 2022 ₹957 Cr | Sep 2022 ₹992 Cr | Dec 2022 ₹869 Cr | Mar 2023 ₹772 Cr | Jun 2023 ₹739 Cr | Sep 2023 ₹800 Cr | Dec 2023 ₹751 Cr | Mar 2024 ₹738 Cr | Jun 2024 ₹727 Cr | Sep 2024 ₹830 Cr | Dec 2024 ₹812 Cr | Mar 2025 ₹812 Cr | Jun 2025 ₹814 Cr | Sep 2025 ₹899 Cr | Dec 2025 ₹884 Cr | Mar 2026 ₹843 Cr | Jun 2026 ₹800 Cr
- ASO: Sep 2021 ₹1.8K Cr | Dec 2021 ₹1.6K Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.7K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹1.7K Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹1.8K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.7K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.6K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.7K Cr | Jun 2026 ₹1.4K Cr
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 ₹600 Cr | Mar 2025 ₹533 Cr | Jun 2025 — | Sep 2025 — | Dec 2025 ₹649 Cr | Mar 2026 ₹578 Cr | Jun 2026 —
- EYE: Sep 2021 ₹549 Cr | Dec 2021 ₹518 Cr | Mar 2022 ₹478 Cr | Jun 2022 ₹528 Cr | Sep 2022 ₹510 Cr | Dec 2022 ₹499 Cr | Mar 2023 — | Jun 2023 ₹521 Cr | Sep 2023 ₹432 Cr | Dec 2023 ₹421 Cr | Mar 2024 ₹483 Cr | Jun 2024 ₹452 Cr | Sep 2024 ₹452 Cr | Dec 2024 ₹437 Cr | Mar 2025 ₹510 Cr | Jun 2025 ₹486 Cr | Sep 2025 ₹487 Cr | Dec 2025 — | Mar 2026 ₹503 Cr | Jun 2026 ₹544 Cr
- SVV: Sep 2021 ₹278 Cr | Dec 2021 ₹328 Cr | Mar 2022 ₹345 Cr | Jun 2022 ₹327 Cr | Sep 2022 ₹365 Cr | Dec 2022 ₹378 Cr | Mar 2023 — | Jun 2023 ₹346 Cr | Sep 2023 ₹379 Cr | Dec 2023 ₹383 Cr | Mar 2024 ₹354 Cr | Jun 2024 ₹387 Cr | Sep 2024 ₹395 Cr | Dec 2024 ₹402 Cr | Mar 2025 ₹370 Cr | Jun 2025 ₹417 Cr | Sep 2025 ₹427 Cr | Dec 2025 — | Mar 2026 ₹465 Cr | Jun 2026 ₹403 Cr
- SBH: Sep 2021 ₹990 Cr | Dec 2021 ₹980 Cr | Mar 2022 ₹911 Cr | Jun 2022 ₹961 Cr | Sep 2022 ₹962 Cr | Dec 2022 ₹957 Cr | Mar 2023 ₹919 Cr | Jun 2023 ₹931 Cr | Sep 2023 ₹921 Cr | Dec 2023 ₹931 Cr | Mar 2024 ₹908 Cr | Jun 2024 ₹942 Cr | Sep 2024 ₹935 Cr | Dec 2024 ₹938 Cr | Mar 2025 ₹883 Cr | Jun 2025 ₹933 Cr | Sep 2025 ₹947 Cr | Dec 2025 ₹943 Cr | Mar 2026 ₹903 Cr | Jun 2026 —
- OLPX: Sep 2021 ₹162 Cr | Dec 2021 ₹166 Cr | Mar 2022 ₹186 Cr | Jun 2022 ₹211 Cr | Sep 2022 ₹176 Cr | Dec 2022 ₹131 Cr | Mar 2023 ₹114 Cr | Jun 2023 ₹109 Cr | Sep 2023 ₹124 Cr | Dec 2023 ₹112 Cr | Mar 2024 ₹99 Cr | Jun 2024 ₹104 Cr | Sep 2024 ₹119 Cr | Dec 2024 ₹101 Cr | Mar 2025 ₹97 Cr | Jun 2025 ₹106 Cr | Sep 2025 ₹115 Cr | Dec 2025 ₹105 Cr | Mar 2026 ₹99 Cr | Jun 2026 —
- WINA: Sep 2021 ₹20 Cr | Dec 2021 ₹20 Cr | Mar 2022 ₹20 Cr | Jun 2022 ₹19 Cr | Sep 2022 ₹21 Cr | Dec 2022 ₹21 Cr | Mar 2023 — | Jun 2023 ₹21 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹20 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹20 Cr | Sep 2024 ₹22 Cr | Dec 2024 ₹20 Cr | Mar 2025 ₹22 Cr | Jun 2025 ₹20 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹21 Cr | Mar 2026 ₹21 Cr | Jun 2026 —
- ARHS: Sep 2021 ₹203 Cr | Dec 2021 ₹238 Cr | Mar 2022 ₹246 Cr | Jun 2022 ₹306 Cr | Sep 2022 ₹320 Cr | Dec 2022 ₹356 Cr | Mar 2023 ₹305 Cr | Jun 2023 ₹313 Cr | Sep 2023 ₹326 Cr | Dec 2023 ₹344 Cr | Mar 2024 ₹295 Cr | Jun 2024 ₹310 Cr | Sep 2024 ₹319 Cr | Dec 2024 ₹347 Cr | Mar 2025 ₹311 Cr | Jun 2025 ₹358 Cr | Sep 2025 ₹345 Cr | Dec 2025 ₹365 Cr | Mar 2026 ₹314 Cr | Jun 2026 —
- ARKO: Sep 2021 ₹2.0K Cr | Dec 2021 ₹2.0K Cr | Mar 2022 ₹2.0K Cr | Jun 2022 ₹2.5K Cr | Sep 2022 ₹2.5K Cr | Dec 2022 ₹2.2K Cr | Mar 2023 ₹2.1K Cr | Jun 2023 ₹2.5K Cr | Sep 2023 ₹2.6K Cr | Dec 2023 ₹2.2K Cr | Mar 2024 ₹2.1K Cr | Jun 2024 ₹2.4K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.0K Cr | Mar 2025 ₹1.8K Cr | Jun 2025 ₹2.0K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹1.8K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 —
- WOOF: Sep 2021 ₹1.4K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.5K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹1.6K Cr | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹1.5K Cr | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 ₹1.5K Cr
- HZO: Sep 2021 ₹462 Cr | Dec 2021 ₹473 Cr | Mar 2022 ₹610 Cr | Jun 2022 ₹689 Cr | Sep 2022 ₹537 Cr | Dec 2022 ₹508 Cr | Mar 2023 ₹570 Cr | Jun 2023 ₹722 Cr | Sep 2023 ₹595 Cr | Dec 2023 ₹527 Cr | Mar 2024 ₹583 Cr | Jun 2024 ₹758 Cr | Sep 2024 ₹563 Cr | Dec 2024 ₹468 Cr | Mar 2025 ₹632 Cr | Jun 2025 ₹657 Cr | Sep 2025 ₹552 Cr | Dec 2025 ₹505 Cr | Mar 2026 ₹527 Cr | Jun 2026 —
- EVGO: Sep 2021 ₹12 Cr | Dec 2021 ₹8 Cr | Mar 2022 ₹8 Cr | Jun 2022 ₹9 Cr | Sep 2022 ₹11 Cr | Dec 2022 ₹27 Cr | Mar 2023 ₹25 Cr | Jun 2023 ₹51 Cr | Sep 2023 ₹35 Cr | Dec 2023 ₹50 Cr | Mar 2024 ₹55 Cr | Jun 2024 ₹67 Cr | Sep 2024 ₹68 Cr | Dec 2024 ₹68 Cr | Mar 2025 ₹75 Cr | Jun 2025 ₹98 Cr | Sep 2025 ₹92 Cr | Dec 2025 ₹118 Cr | Mar 2026 ₹110 Cr | Jun 2026 —
- BNED: Sep 2021 ₹241 Cr | Dec 2021 ₹627 Cr | Mar 2022 ₹403 Cr | Jun 2022 ₹225 Cr | Sep 2022 ₹255 Cr | Dec 2022 ₹609 Cr | Mar 2023 ₹438 Cr | Jun 2023 ₹242 Cr | Sep 2023 ₹264 Cr | Dec 2023 ₹610 Cr | Mar 2024 ₹457 Cr | Jun 2024 ₹236 Cr | Sep 2024 ₹263 Cr | Dec 2024 ₹602 Cr | Mar 2025 ₹463 Cr | Jun 2025 ₹282 Cr | Sep 2025 ₹288 Cr | Dec 2025 ₹644 Cr | Mar 2026 ₹515 Cr | Jun 2026 —
- BBW: Sep 2021 ₹95 Cr | Dec 2021 ₹95 Cr | Mar 2022 ₹130 Cr | Jun 2022 ₹118 Cr | Sep 2022 ₹101 Cr | Dec 2022 ₹104 Cr | Mar 2023 ₹145 Cr | Jun 2023 ₹120 Cr | Sep 2023 ₹109 Cr | Dec 2023 ₹108 Cr | Mar 2024 ₹149 Cr | Jun 2024 ₹115 Cr | Sep 2024 ₹112 Cr | Dec 2024 ₹119 Cr | Mar 2025 ₹150 Cr | Jun 2025 ₹128 Cr | Sep 2025 ₹124 Cr | Dec 2025 ₹123 Cr | Mar 2026 ₹155 Cr | Jun 2026 ₹125 Cr
- BBBY: Sep 2021 ₹689 Cr | Dec 2021 ₹613 Cr | Mar 2022 ₹536 Cr | Jun 2022 ₹528 Cr | Sep 2022 ₹460 Cr | Dec 2022 ₹405 Cr | Mar 2023 ₹381 Cr | Jun 2023 ₹422 Cr | Sep 2023 ₹373 Cr | Dec 2023 ₹384 Cr | Mar 2024 ₹382 Cr | Jun 2024 ₹398 Cr | Sep 2024 ₹311 Cr | Dec 2024 ₹303 Cr | Mar 2025 ₹232 Cr | Jun 2025 ₹282 Cr | Sep 2025 ₹257 Cr | Dec 2025 ₹273 Cr | Mar 2026 ₹248 Cr | Jun 2026 —
- FLWS: Sep 2021 ₹309 Cr | Dec 2021 ₹943 Cr | Mar 2022 ₹470 Cr | Jun 2022 — | Sep 2022 ₹486 Cr | Dec 2022 ₹304 Cr | Mar 2023 ₹898 Cr | Jun 2023 ₹418 Cr | Sep 2023 ₹399 Cr | Dec 2023 ₹269 Cr | Mar 2024 ₹379 Cr | Jun 2024 ₹361 Cr | Sep 2024 ₹242 Cr | Dec 2024 ₹775 Cr | Mar 2025 ₹331 Cr | Jun 2025 ₹337 Cr | Sep 2025 ₹215 Cr | Dec 2025 ₹702 Cr | Mar 2026 ₹293 Cr | Jun 2026 —
- ONEW: Sep 2021 ₹280 Cr | Dec 2021 ₹336 Cr | Mar 2022 ₹442 Cr | Jun 2022 ₹569 Cr | Sep 2022 ₹398 Cr | Dec 2022 ₹367 Cr | Mar 2023 ₹524 Cr | Jun 2023 ₹594 Cr | Sep 2023 ₹451 Cr | Dec 2023 ₹364 Cr | Mar 2024 ₹488 Cr | Jun 2024 ₹542 Cr | Sep 2024 ₹378 Cr | Dec 2024 ₹376 Cr | Mar 2025 ₹484 Cr | Jun 2025 ₹553 Cr | Sep 2025 ₹460 Cr | Dec 2025 ₹381 Cr | Mar 2026 ₹442 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- CASY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 40% | Dec 2022 22% | Mar 2023 9.3% | Jun 2023 -3.8% | Sep 2023 -13% | Dec 2023 2.1% | Mar 2024 -0.1% | Jun 2024 8.1% | Sep 2024 5.9% | Dec 2024 -2.9% | Mar 2025 17% | Jun 2025 11% | Sep 2025 11% | Dec 2025 14% | Mar 2026 0.3% | Jun 2026 15%
- WSM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 9.8% | Dec 2022 7.1% | Mar 2023 -1.9% | Jun 2023 -7.2% | Sep 2023 -13% | Dec 2023 -15% | Mar 2024 -7.1% | Jun 2024 -5.4% | Sep 2024 -4.0% | Dec 2024 -2.9% | Mar 2025 8.0% | Jun 2025 4.2% | Sep 2025 2.7% | Dec 2025 4.6% | Mar 2026 -4.3% | Jun 2026 4.3%
- ULTA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 17% | Dec 2022 17% | Mar 2023 18% | Jun 2023 12% | Sep 2023 10% | Dec 2023 6.4% | Mar 2024 10% | Jun 2024 3.5% | Sep 2024 0.9% | Dec 2024 1.7% | Mar 2025 -1.9% | Jun 2025 4.5% | Sep 2025 9.3% | Dec 2025 13% | Mar 2026 12% | Jun 2026 11%
- DKS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -5.0% | Dec 2022 7.7% | Mar 2023 7.3% | Jun 2023 5.3% | Sep 2023 3.6% | Dec 2023 2.8% | Mar 2024 7.8% | Jun 2024 6.2% | Sep 2024 7.8% | Dec 2024 0.5% | Mar 2025 0.5% | Jun 2025 5.2% | Sep 2025 5.0% | Dec 2025 36% | Mar 2026 60% | Jun 2026 63%
- BBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -13% | Dec 2022 -11% | Mar 2023 -10.0% | Jun 2023 -11% | Sep 2023 -7.2% | Dec 2023 -7.9% | Mar 2024 -0.6% | Jun 2024 -6.6% | Sep 2024 -3.1% | Dec 2024 -3.2% | Mar 2025 -4.8% | Jun 2025 -0.9% | Sep 2025 1.6% | Dec 2025 2.4% | Mar 2026 -1.0% | Jun 2026 1.9%
- TSCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 8.4% | Sep 2022 8.4% | Dec 2022 21% | Mar 2023 — | Jun 2023 -15% | Sep 2023 28% | Dec 2023 -8.6% | Mar 2024 — | Jun 2024 29% | Sep 2024 -17% | Dec 2024 3.1% | Mar 2025 2.1% | Jun 2025 4.5% | Sep 2025 7.2% | Dec 2025 3.3% | Mar 2026 3.6% | Jun 2026 —
- FIVE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 3.4% | Dec 2022 6.1% | Mar 2023 13% | Jun 2023 13% | Sep 2023 13% | Dec 2023 14% | Mar 2024 19% | Jun 2024 12% | Sep 2024 9.4% | Dec 2024 15% | Mar 2025 4.0% | Jun 2025 20% | Sep 2025 24% | Dec 2025 23% | Mar 2026 24% | Jun 2026 32%
- MUSA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 52% | Sep 2022 35% | Dec 2022 13% | Mar 2023 -0.8% | Jun 2023 -17% | Sep 2023 -6.4% | Dec 2023 -5.5% | Mar 2024 -4.6% | Jun 2024 -2.4% | Sep 2024 -9.6% | Dec 2024 -7.1% | Mar 2025 -6.6% | Jun 2025 -8.2% | Sep 2025 -2.5% | Dec 2025 0.7% | Mar 2026 6.5% | Jun 2026 —
- GME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -4.0% | Dec 2022 -8.6% | Mar 2023 -1.2% | Jun 2023 -10% | Sep 2023 2.5% | Dec 2023 -9.1% | Mar 2024 -19% | Jun 2024 -29% | Sep 2024 -31% | Dec 2024 -20% | Mar 2025 -28% | Jun 2025 -17% | Sep 2025 22% | Dec 2025 -4.5% | Mar 2026 -14% | Jun 2026 14%
- BBWI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -5.1% | Dec 2022 -4.6% | Mar 2023 -4.6% | Jun 2023 -3.7% | Sep 2023 -3.7% | Dec 2023 -2.6% | Mar 2024 -100% | Jun 2024 -0.9% | Sep 2024 -2.1% | Dec 2024 3.1% | Mar 2025 — | Jun 2025 2.9% | Sep 2025 1.5% | Dec 2025 -1.0% | Mar 2026 -2.3% | Jun 2026 -3.2%
- RH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.3% | Dec 2022 -14% | Mar 2023 -15% | Jun 2023 -23% | Sep 2023 -19% | Dec 2023 -14% | Mar 2024 -4.4% | Jun 2024 -1.6% | Sep 2024 3.8% | Dec 2024 8.1% | Mar 2025 10% | Jun 2025 12% | Sep 2025 8.3% | Dec 2025 8.9% | Mar 2026 3.8% | Jun 2026 -1.7%
- ASO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -5.9% | Dec 2022 -6.2% | Mar 2023 -3.4% | Jun 2023 -5.7% | Sep 2023 -6.2% | Dec 2023 -6.4% | Mar 2024 2.8% | Jun 2024 -1.5% | Sep 2024 -2.2% | Dec 2024 -3.9% | Mar 2025 -6.6% | Jun 2025 -1.0% | Sep 2025 3.3% | Dec 2025 3.1% | Mar 2026 2.4% | Jun 2026 6.7%
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 8.2% | Mar 2026 8.4% | Jun 2026 —
- EYE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -7.1% | Dec 2022 -3.7% | Mar 2023 — | Jun 2023 -1.3% | Sep 2023 -15% | Dec 2023 -16% | Mar 2024 — | Jun 2024 -13% | Sep 2024 4.6% | Dec 2024 3.8% | Mar 2025 5.6% | Jun 2025 7.5% | Sep 2025 7.7% | Dec 2025 — | Mar 2026 -1.4% | Jun 2026 12%
- SVV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 31% | Dec 2022 15% | Mar 2023 — | Jun 2023 5.8% | Sep 2023 3.8% | Dec 2023 1.3% | Mar 2024 — | Jun 2024 12% | Sep 2024 4.2% | Dec 2024 5.0% | Mar 2025 4.5% | Jun 2025 7.8% | Sep 2025 8.1% | Dec 2025 — | Mar 2026 26% | Jun 2026 -3.4%
- SBH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -6.0% | Sep 2022 -2.8% | Dec 2022 -2.4% | Mar 2023 0.9% | Jun 2023 -3.1% | Sep 2023 -4.3% | Dec 2023 -2.7% | Mar 2024 -1.2% | Jun 2024 1.2% | Sep 2024 1.5% | Dec 2024 0.8% | Mar 2025 -2.8% | Jun 2025 -1.0% | Sep 2025 1.3% | Dec 2025 0.5% | Mar 2026 2.3% | Jun 2026 —
- OLPX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 39% | Sep 2022 8.6% | Dec 2022 -21% | Mar 2023 -39% | Jun 2023 -48% | Sep 2023 -30% | Dec 2023 -15% | Mar 2024 -13% | Jun 2024 -4.6% | Sep 2024 -4.0% | Dec 2024 -9.8% | Mar 2025 -2.0% | Jun 2025 1.9% | Sep 2025 -3.4% | Dec 2025 4.0% | Mar 2026 2.1% | Jun 2026 —
- WINA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.0% | Sep 2022 5.0% | Dec 2022 5.0% | Mar 2023 — | Jun 2023 11% | Sep 2023 -4.8% | Dec 2023 -4.8% | Mar 2024 — | Jun 2024 -4.8% | Sep 2024 10% | Dec 2024 0.0% | Mar 2025 10% | Jun 2025 0.0% | Sep 2025 4.6% | Dec 2025 5.0% | Mar 2026 -4.6% | Jun 2026 —
- ARHS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 66% | Sep 2022 58% | Dec 2022 50% | Mar 2023 24% | Jun 2023 2.3% | Sep 2023 1.9% | Dec 2023 -3.4% | Mar 2024 -3.3% | Jun 2024 -1.0% | Sep 2024 -2.2% | Dec 2024 0.9% | Mar 2025 5.4% | Jun 2025 15% | Sep 2025 8.2% | Dec 2025 5.2% | Mar 2026 1.0% | Jun 2026 —
- ARKO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 33% | Sep 2022 20% | Dec 2022 9.7% | Mar 2023 5.9% | Jun 2023 -2.8% | Sep 2023 7.0% | Dec 2023 2.4% | Mar 2024 -0.8% | Jun 2024 -3.3% | Sep 2024 -13% | Dec 2024 -11% | Mar 2025 -12% | Jun 2025 -16% | Sep 2025 -11% | Dec 2025 -9.9% | Mar 2026 -3.1% | Jun 2026 —
- WOOF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 3.2% | Dec 2022 4.0% | Mar 2023 4.2% | Jun 2023 5.4% | Sep 2023 3.4% | Dec 2023 -0.5% | Mar 2024 6.1% | Jun 2024 -1.7% | Sep 2024 -0.5% | Dec 2024 1.1% | Mar 2025 -7.3% | Jun 2025 -2.4% | Sep 2025 -2.3% | Dec 2025 -3.1% | Mar 2026 -2.4% | Jun 2026 0.3%
- HZO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 3.5% | Sep 2022 16% | Dec 2022 7.4% | Mar 2023 -6.6% | Jun 2023 4.8% | Sep 2023 11% | Dec 2023 3.7% | Mar 2024 2.3% | Jun 2024 5.0% | Sep 2024 -5.4% | Dec 2024 -11% | Mar 2025 8.4% | Jun 2025 -13% | Sep 2025 -2.0% | Dec 2025 7.9% | Mar 2026 -17% | Jun 2026 —
- EVGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -10% | Sep 2022 -8.3% | Dec 2022 238% | Mar 2023 213% | Jun 2023 467% | Sep 2023 218% | Dec 2023 85% | Mar 2024 120% | Jun 2024 31% | Sep 2024 94% | Dec 2024 36% | Mar 2025 36% | Jun 2025 46% | Sep 2025 35% | Dec 2025 74% | Mar 2026 47% | Jun 2026 —
- BNED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 15% | Sep 2022 5.8% | Dec 2022 -2.9% | Mar 2023 8.7% | Jun 2023 7.6% | Sep 2023 3.5% | Dec 2023 0.2% | Mar 2024 4.3% | Jun 2024 -2.5% | Sep 2024 -0.4% | Dec 2024 -1.3% | Mar 2025 1.3% | Jun 2025 19% | Sep 2025 9.5% | Dec 2025 7.0% | Mar 2026 11% | Jun 2026 —
- BBW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 6.3% | Dec 2022 9.5% | Mar 2023 12% | Jun 2023 1.7% | Sep 2023 7.9% | Dec 2023 3.9% | Mar 2024 2.8% | Jun 2024 -4.2% | Sep 2024 2.8% | Dec 2024 10% | Mar 2025 0.7% | Jun 2025 11% | Sep 2025 11% | Dec 2025 3.4% | Mar 2026 3.3% | Jun 2026 -2.3%
- BBBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -34% | Sep 2022 -33% | Dec 2022 -34% | Mar 2023 -29% | Jun 2023 -20% | Sep 2023 -19% | Dec 2023 -5.2% | Mar 2024 0.3% | Jun 2024 -5.7% | Sep 2024 -17% | Dec 2024 -21% | Mar 2025 -39% | Jun 2025 -29% | Sep 2025 -17% | Dec 2025 -9.9% | Mar 2026 6.9% | Jun 2026 —
- FLWS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 57% | Dec 2022 -68% | Mar 2023 91% | Jun 2023 — | Sep 2023 -18% | Dec 2023 -12% | Mar 2024 -58% | Jun 2024 -14% | Sep 2024 -39% | Dec 2024 188% | Mar 2025 -13% | Jun 2025 -6.7% | Sep 2025 -11% | Dec 2025 -9.4% | Mar 2026 -11% | Jun 2026 —
- ONEW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 41% | Sep 2022 42% | Dec 2022 9.2% | Mar 2023 19% | Jun 2023 4.4% | Sep 2023 13% | Dec 2023 -0.8% | Mar 2024 -6.9% | Jun 2024 -8.8% | Sep 2024 -16% | Dec 2024 3.3% | Mar 2025 -0.8% | Jun 2025 2.0% | Sep 2025 22% | Dec 2025 1.3% | Mar 2026 -8.7% | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Winmark Corporation leads opm at 59.3%; 1-800-FLOWERS.COM, Inc. leads margin change at +26.1 percentage points.

Investor read: Winmark Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Winmark Corporation · 59.3% | 212.1% versus #2 · Build-A-Bear Workshop, Inc. | 4/8 recent comparable periods | 28/28 companies · 523 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Winmark Corporation (WINA): 59%
2. Build-A-Bear Workshop, Inc. (BBW): 19%
3. GameStop Corp. (GME): 17%
4. Bath & Body Works, Inc. (BBWI): 17%
5. Williams-Sonoma, Inc. (WSM): 16%

### Margin change — fastest expanders
1. 1-800-FLOWERS.COM, Inc. (FLWS): +26.1 pp
2. GameStop Corp. (GME): +18.7 pp
3. EVgo, Inc. (EVGO): +11.2 pp
4. Five Below, Inc. (FIVE): +6.8 pp
5. National Vision Holdings, Inc. (EYE): +4.9 pp

### 20-quarter OPM history
- CASY: Sep 2021 5.3% | Dec 2021 4.4% | Mar 2022 3.2% | Jun 2022 2.5% | Sep 2022 4.9% | Dec 2022 4.9% | Mar 2023 4.3% | Jun 2023 2.6% | Sep 2023 6.0% | Dec 2023 5.4% | Mar 2024 3.9% | Jun 2024 3.5% | Sep 2024 6.1% | Dec 2024 6.4% | Mar 2025 3.5% | Jun 2025 3.9% | Sep 2025 6.7% | Dec 2025 6.6% | Mar 2026 5.0% | Jun 2026 5.1%
- WSM: Sep 2021 17% | Dec 2021 16% | Mar 2022 21% | Jun 2022 17% | Sep 2022 17% | Dec 2022 16% | Mar 2023 19% | Jun 2023 11% | Sep 2023 15% | Dec 2023 17% | Mar 2024 20% | Jun 2024 19% | Sep 2024 16% | Dec 2024 17% | Mar 2025 22% | Jun 2025 17% | Sep 2025 18% | Dec 2025 17% | Mar 2026 20% | Jun 2026 16%
- ULTA: Sep 2021 17% | Dec 2021 14% | Mar 2022 14% | Jun 2022 19% | Sep 2022 17% | Dec 2022 16% | Mar 2023 14% | Jun 2023 17% | Sep 2023 16% | Dec 2023 13% | Mar 2024 15% | Jun 2024 15% | Sep 2024 13% | Dec 2024 13% | Mar 2025 15% | Jun 2025 14% | Sep 2025 12% | Dec 2025 11% | Mar 2026 12% | Jun 2026 14%
- DKS: Sep 2021 20% | Dec 2021 15% | Mar 2022 14% | Jun 2022 14% | Sep 2022 15% | Dec 2022 11% | Mar 2023 8.6% | Jun 2023 12% | Sep 2023 9.7% | Dec 2023 9.0% | Mar 2024 9.6% | Jun 2024 11% | Sep 2024 14% | Dec 2024 9.4% | Mar 2025 9.9% | Jun 2025 12% | Sep 2025 12% | Dec 2025 2.2% | Mar 2026 3.0% | Jun 2026 8.7%
- BBY: Sep 2021 6.7% | Dec 2021 5.6% | Mar 2022 4.9% | Jun 2022 4.3% | Sep 2022 3.6% | Dec 2022 3.4% | Mar 2023 4.1% | Jun 2023 3.3% | Sep 2023 3.6% | Dec 2023 3.6% | Mar 2024 3.8% | Jun 2024 3.5% | Sep 2024 4.1% | Dec 2024 3.7% | Mar 2025 1.6% | Jun 2025 2.5% | Sep 2025 2.7% | Dec 2025 2.0% | Mar 2026 5.2% | Jun 2026 4.1%
- TSCO: Sep 2021 9.8% | Dec 2021 8.8% | Mar 2022 8.1% | Jun 2022 14% | Sep 2022 9.4% | Dec 2022 9.0% | Mar 2023 — | Jun 2023 7.4% | Sep 2023 13% | Dec 2023 9.1% | Mar 2024 7.8% | Jun 2024 13% | Sep 2024 9.4% | Dec 2024 8.4% | Mar 2025 7.2% | Jun 2025 13% | Sep 2025 9.2% | Dec 2025 7.6% | Mar 2026 6.5% | Jun 2026 —
- FIVE: Sep 2021 13% | Dec 2021 7.0% | Mar 2022 19% | Jun 2022 6.6% | Sep 2022 8.4% | Dec 2022 3.2% | Mar 2023 20% | Jun 2023 5.8% | Sep 2023 7.7% | Dec 2023 2.2% | Mar 2024 20% | Jun 2024 4.5% | Sep 2024 5.0% | Dec 2024 -0.1% | Mar 2025 18% | Jun 2025 5.2% | Sep 2025 5.1% | Dec 2025 4.2% | Mar 2026 18% | Jun 2026 12%
- MUSA: Sep 2021 3.4% | Dec 2021 3.4% | Mar 2022 4.3% | Jun 2022 3.9% | Sep 2022 5.0% | Dec 2022 3.2% | Mar 2023 3.2% | Jun 2023 3.6% | Sep 2023 4.3% | Dec 2023 4.3% | Mar 2024 2.2% | Jun 2024 4.0% | Sep 2024 4.2% | Dec 2024 4.2% | Mar 2025 1.9% | Jun 2025 4.4% | Sep 2025 3.9% | Dec 2025 4.4% | Mar 2026 4.3% | Jun 2026 —
- GME: Sep 2021 -4.9% | Dec 2021 -7.9% | Mar 2022 -7.4% | Jun 2022 -11% | Sep 2022 -9.5% | Dec 2022 -8.1% | Mar 2023 2.1% | Jun 2023 -4.7% | Sep 2023 -1.4% | Dec 2023 -1.4% | Mar 2024 3.1% | Jun 2024 -5.7% | Sep 2024 -2.8% | Dec 2024 -3.9% | Mar 2025 6.2% | Jun 2025 -1.5% | Sep 2025 6.8% | Dec 2025 5.0% | Mar 2026 12% | Jun 2026 17%
- BBWI: Sep 2021 23% | Dec 2021 24% | Mar 2022 29% | Jun 2022 19% | Sep 2022 15% | Dec 2022 13% | Mar 2023 23% | Jun 2023 13% | Sep 2023 12% | Dec 2023 14% | Mar 2024 — | Jun 2024 14% | Sep 2024 12% | Dec 2024 14% | Mar 2025 24% | Jun 2025 15% | Sep 2025 10% | Dec 2025 10% | Mar 2026 22% | Jun 2026 17%
- RH: Sep 2021 25% | Dec 2021 27% | Mar 2022 24% | Jun 2022 21% | Sep 2022 24% | Dec 2022 20% | Mar 2023 15% | Jun 2023 13% | Sep 2023 19% | Dec 2023 6.8% | Mar 2024 8.7% | Jun 2024 7.5% | Sep 2024 12% | Dec 2024 13% | Mar 2025 8.7% | Jun 2025 6.9% | Sep 2025 14% | Dec 2025 12% | Mar 2026 12% | Jun 2026 4.3%
- ASO: Sep 2021 14% | Dec 2021 14% | Mar 2022 11% | Jun 2022 14% | Sep 2022 15% | Dec 2022 12% | Mar 2023 12% | Jun 2023 9.1% | Sep 2023 13% | Dec 2023 9.8% | Mar 2024 11% | Jun 2024 7.5% | Sep 2024 12% | Dec 2024 6.8% | Mar 2025 9.2% | Jun 2025 5.1% | Sep 2025 11% | Dec 2025 7.3% | Mar 2026 9.9% | Jun 2026 5.2%
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 8.7% | Mar 2025 3.3% | Jun 2025 — | Sep 2025 — | Dec 2025 8.7% | Mar 2026 3.0% | Jun 2026 —
- EYE: Sep 2021 10% | Dec 2021 9.8% | Mar 2022 1.7% | Jun 2022 7.1% | Sep 2022 3.6% | Dec 2022 3.1% | Mar 2023 — | Jun 2023 5.6% | Sep 2023 1.3% | Dec 2023 -2.9% | Mar 2024 4.9% | Jun 2024 0.1% | Sep 2024 -2.0% | Dec 2024 -5.8% | Mar 2025 5.1% | Jun 2025 3.4% | Sep 2025 2.0% | Dec 2025 — | Mar 2026 1.3% | Jun 2026 8.3%
- SVV: Sep 2021 19% | Dec 2021 19% | Mar 2022 8.6% | Jun 2022 10% | Sep 2022 17% | Dec 2022 17% | Mar 2023 — | Jun 2023 4.6% | Sep 2023 18% | Dec 2023 9.6% | Mar 2024 4.6% | Jun 2024 8.3% | Sep 2024 12% | Dec 2024 8.2% | Mar 2025 2.8% | Jun 2025 8.2% | Sep 2025 8.5% | Dec 2025 — | Mar 2026 9.3% | Jun 2026 3.1%
- SBH: Sep 2021 11% | Dec 2021 12% | Mar 2022 9.5% | Jun 2022 10% | Sep 2022 4.1% | Dec 2022 9.0% | Mar 2023 7.8% | Jun 2023 9.7% | Sep 2023 8.3% | Dec 2023 7.4% | Mar 2024 6.6% | Jun 2024 7.6% | Sep 2024 8.8% | Dec 2024 11% | Mar 2025 7.9% | Jun 2025 8.4% | Sep 2025 8.4% | Dec 2025 8.1% | Mar 2026 8.0% | Jun 2026 —
- OLPX: Sep 2021 54% | Dec 2021 59% | Mar 2022 58% | Jun 2022 57% | Sep 2022 50% | Dec 2022 36% | Mar 2023 31% | Jun 2023 17% | Sep 2023 30% | Dec 2023 15% | Mar 2024 20% | Jun 2024 16% | Sep 2024 24% | Dec 2024 3.0% | Mar 2025 8.7% | Jun 2025 -1.1% | Sep 2025 3.7% | Dec 2025 -4.3% | Mar 2026 -5.1% | Jun 2026 —
- WINA: Sep 2021 68% | Dec 2021 63% | Mar 2022 67% | Jun 2022 65% | Sep 2022 68% | Dec 2022 63% | Mar 2023 — | Jun 2023 60% | Sep 2023 65% | Dec 2023 63% | Mar 2024 61% | Jun 2024 65% | Sep 2024 69% | Dec 2024 65% | Mar 2025 62% | Jun 2025 64% | Sep 2025 66% | Dec 2025 62% | Mar 2026 59% | Jun 2026 —
- ARHS: Sep 2021 7.9% | Dec 2021 -1.1% | Mar 2022 9.3% | Jun 2022 16% | Sep 2022 15% | Dec 2022 18% | Mar 2023 15% | Jun 2023 17% | Sep 2023 7.3% | Dec 2023 12% | Mar 2024 6.2% | Jun 2024 9.5% | Sep 2024 3.3% | Dec 2024 8.2% | Mar 2025 1.7% | Jun 2025 13% | Sep 2025 4.8% | Dec 2025 5.6% | Mar 2026 0.7% | Jun 2026 —
- ARKO: Sep 2021 2.7% | Dec 2021 1.4% | Mar 2022 1.0% | Jun 2022 1.9% | Sep 2022 2.7% | Dec 2022 1.5% | Mar 2023 0.4% | Jun 2023 1.6% | Sep 2023 1.7% | Dec 2023 1.1% | Mar 2024 -0.2% | Jun 2024 1.8% | Sep 2024 1.8% | Dec 2024 0.7% | Mar 2025 -0.6% | Jun 2025 2.8% | Sep 2025 1.8% | Dec 2025 1.2% | Mar 2026 0.6% | Jun 2026 —
- WOOF: Sep 2021 5.1% | Dec 2021 4.3% | Mar 2022 5.5% | Jun 2022 3.4% | Sep 2022 3.4% | Dec 2022 3.2% | Mar 2023 4.9% | Jun 2023 1.8% | Sep 2023 1.6% | Dec 2023 -83% | Mar 2024 0.0% | Jun 2024 -1.1% | Sep 2024 0.2% | Dec 2024 0.3% | Mar 2025 1.1% | Jun 2025 1.1% | Sep 2025 2.9% | Dec 2025 2.0% | Mar 2026 2.1% | Jun 2026 1.6%
- HZO: Sep 2021 9.5% | Dec 2021 10% | Mar 2022 12% | Jun 2022 14% | Sep 2022 9.5% | Dec 2022 7.2% | Mar 2023 9.7% | Jun 2023 10% | Sep 2023 5.8% | Dec 2023 3.6% | Mar 2024 3.7% | Jun 2024 8.1% | Sep 2024 4.8% | Dec 2024 8.3% | Mar 2025 3.6% | Jun 2025 -6.3% | Sep 2025 2.5% | Dec 2025 1.0% | Mar 2026 2.1% | Jun 2026 —
- EVGO: Sep 2021 -210% | Dec 2021 -393% | Mar 2022 -389% | Jun 2022 -408% | Sep 2022 -381% | Dec 2022 -156% | Mar 2023 -169% | Jun 2023 -66% | Sep 2023 -104% | Dec 2023 -82% | Mar 2024 -59% | Jun 2024 -49% | Sep 2024 -47% | Dec 2024 -52% | Mar 2025 -44% | Jun 2025 -31% | Sep 2025 -37% | Dec 2025 -10% | Mar 2026 -33% | Jun 2026 —
- BNED: Sep 2021 -15% | Dec 2021 4.3% | Mar 2022 -8.2% | Jun 2022 -9.9% | Sep 2022 -18% | Dec 2022 4.8% | Mar 2023 -1.6% | Jun 2023 -9.8% | Sep 2023 -12% | Dec 2023 7.3% | Mar 2024 1.7% | Jun 2024 -1.2% | Sep 2024 -12% | Dec 2024 7.8% | Mar 2025 1.4% | Jun 2025 -7.7% | Sep 2025 -7.0% | Dec 2025 7.6% | Mar 2026 3.2% | Jun 2026 —
- BBW: Sep 2021 10% | Dec 2021 8.3% | Mar 2022 16% | Jun 2022 16% | Sep 2022 7.6% | Dec 2022 9.5% | Mar 2023 18% | Jun 2023 16% | Sep 2023 9.4% | Dec 2023 9.4% | Mar 2024 17% | Jun 2024 13% | Sep 2024 10% | Dec 2024 11% | Mar 2025 18% | Jun 2025 15% | Sep 2025 12% | Dec 2025 8.6% | Mar 2026 14% | Jun 2026 19%
- BBBY: Sep 2021 4.2% | Dec 2021 3.1% | Mar 2022 2.3% | Jun 2022 2.2% | Sep 2022 1.2% | Dec 2022 -15% | Mar 2023 -2.2% | Jun 2023 -1.0% | Sep 2023 -11% | Dec 2023 -17% | Mar 2024 -15% | Jun 2024 -12% | Sep 2024 -15% | Dec 2024 -15% | Mar 2025 -10% | Jun 2025 -6.3% | Sep 2025 -4.8% | Dec 2025 -4.8% | Mar 2026 -7.3% | Jun 2026 —
- FLWS: Sep 2021 -6.6% | Dec 2021 12% | Mar 2022 -5.6% | Jun 2022 — | Sep 2022 -5.6% | Dec 2022 -14% | Mar 2023 13% | Jun 2023 -20% | Sep 2023 -6.1% | Dec 2023 -14% | Mar 2024 -7.4% | Jun 2024 -7.7% | Sep 2024 -19% | Dec 2024 12% | Mar 2025 -58% | Jun 2025 -17% | Sep 2025 -24% | Dec 2025 11% | Mar 2026 -32% | Jun 2026 —
- ONEW: Sep 2021 10% | Dec 2021 9.3% | Mar 2022 13% | Jun 2022 15% | Sep 2022 10% | Dec 2022 7.2% | Mar 2023 9.3% | Jun 2023 10% | Sep 2023 -26% | Dec 2023 1.8% | Mar 2024 2.8% | Jun 2024 7.4% | Sep 2024 1.2% | Dec 2024 -0.5% | Mar 2025 3.4% | Jun 2025 5.5% | Sep 2025 -28% | Dec 2025 -1.4% | Mar 2026 1.7% | Jun 2026 —

### 20-quarter Margin change history
- CASY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 +0.5 pp | Mar 2023 +1.1 pp | Jun 2023 +0.1 pp | Sep 2023 +1.1 pp | Dec 2023 +0.5 pp | Mar 2024 −0.4 pp | Jun 2024 +0.9 pp | Sep 2024 +0.1 pp | Dec 2024 +1.0 pp | Mar 2025 −0.4 pp | Jun 2025 +0.4 pp | Sep 2025 +0.6 pp | Dec 2025 +0.2 pp | Mar 2026 +1.5 pp | Jun 2026 +1.2 pp
- WSM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.5 pp | Dec 2022 −0.6 pp | Mar 2023 −1.8 pp | Jun 2023 −5.7 pp | Sep 2023 −2.5 pp | Dec 2023 +1.5 pp | Mar 2024 +0.9 pp | Jun 2024 +7.7 pp | Sep 2024 +0.9 pp | Dec 2024 −0.1 pp | Mar 2025 +1.4 pp | Jun 2025 −2.3 pp | Sep 2025 +2.4 pp | Dec 2025 +0.1 pp | Mar 2026 −1.2 pp | Jun 2026 −0.6 pp
- ULTA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.1 pp | Dec 2022 +1.3 pp | Mar 2023 +0.1 pp | Jun 2023 −1.9 pp | Sep 2023 −1.5 pp | Dec 2023 −2.4 pp | Mar 2024 +0.6 pp | Jun 2024 −2.1 pp | Sep 2024 −2.6 pp | Dec 2024 −0.5 pp | Mar 2025 +0.3 pp | Jun 2025 −0.6 pp | Sep 2025 −0.5 pp | Dec 2025 −1.8 pp | Mar 2026 −2.6 pp | Jun 2026 +0.1 pp
- DKS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −5.5 pp | Dec 2022 −4.3 pp | Mar 2023 −5.6 pp | Jun 2023 −2.1 pp | Sep 2023 −5.1 pp | Dec 2023 −2.0 pp | Mar 2024 +1.0 pp | Jun 2024 −0.5 pp | Sep 2024 +3.8 pp | Dec 2024 +0.4 pp | Mar 2025 +0.3 pp | Jun 2025 +0.5 pp | Sep 2025 −1.1 pp | Dec 2025 −7.2 pp | Mar 2026 −6.9 pp | Jun 2026 −2.8 pp
- BBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.1 pp | Dec 2022 −2.2 pp | Mar 2023 −0.8 pp | Jun 2023 −1.0 pp | Sep 2023 0.0 pp | Dec 2023 +0.2 pp | Mar 2024 −0.3 pp | Jun 2024 +0.2 pp | Sep 2024 +0.5 pp | Dec 2024 +0.1 pp | Mar 2025 −2.2 pp | Jun 2025 −1.0 pp | Sep 2025 −1.4 pp | Dec 2025 −1.7 pp | Mar 2026 +3.6 pp | Jun 2026 +1.6 pp
- TSCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.0 pp | Sep 2022 −0.4 pp | Dec 2022 +0.2 pp | Mar 2023 — | Jun 2023 −6.1 pp | Sep 2023 +4.0 pp | Dec 2023 +0.1 pp | Mar 2024 — | Jun 2024 +5.8 pp | Sep 2024 −4.0 pp | Dec 2024 −0.7 pp | Mar 2025 −0.6 pp | Jun 2025 −0.2 pp | Sep 2025 −0.2 pp | Dec 2025 −0.8 pp | Mar 2026 −0.7 pp | Jun 2026 —
- FIVE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −4.9 pp | Dec 2022 −3.8 pp | Mar 2023 +1.3 pp | Jun 2023 −0.8 pp | Sep 2023 −0.7 pp | Dec 2023 −1.0 pp | Mar 2024 0.0 pp | Jun 2024 −1.3 pp | Sep 2024 −2.7 pp | Dec 2024 −2.3 pp | Mar 2025 −2.4 pp | Jun 2025 +0.7 pp | Sep 2025 +0.1 pp | Dec 2025 +4.3 pp | Mar 2026 +0.3 pp | Jun 2026 +6.8 pp
- MUSA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −0.4 pp | Sep 2022 +1.6 pp | Dec 2022 −0.2 pp | Mar 2023 −1.1 pp | Jun 2023 −0.3 pp | Sep 2023 −0.7 pp | Dec 2023 +1.1 pp | Mar 2024 −1.0 pp | Jun 2024 +0.4 pp | Sep 2024 −0.1 pp | Dec 2024 −0.1 pp | Mar 2025 −0.3 pp | Jun 2025 +0.4 pp | Sep 2025 −0.3 pp | Dec 2025 +0.2 pp | Mar 2026 +2.4 pp | Jun 2026 —
- GME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −4.6 pp | Dec 2022 −0.2 pp | Mar 2023 +9.5 pp | Jun 2023 +6.5 pp | Sep 2023 +8.1 pp | Dec 2023 +6.7 pp | Mar 2024 +1.0 pp | Jun 2024 −1.0 pp | Sep 2024 −1.4 pp | Dec 2024 −2.5 pp | Mar 2025 +3.1 pp | Jun 2025 +4.2 pp | Sep 2025 +9.6 pp | Dec 2025 +8.9 pp | Mar 2026 +6.0 pp | Jun 2026 +18.7 pp
- BBWI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −7.5 pp | Dec 2022 −11.7 pp | Mar 2023 −6.4 pp | Jun 2023 −6.3 pp | Sep 2023 −2.9 pp | Dec 2023 +1.5 pp | Mar 2024 — | Jun 2024 +0.5 pp | Sep 2024 −0.1 pp | Dec 2024 −0.6 pp | Mar 2025 — | Jun 2025 +1.2 pp | Sep 2025 −1.9 pp | Dec 2025 −3.4 pp | Mar 2026 −2.3 pp | Jun 2026 +2.1 pp
- RH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.6 pp | Dec 2022 −7.5 pp | Mar 2023 −9.6 pp | Jun 2023 −8.0 pp | Sep 2023 −4.7 pp | Dec 2023 −12.8 pp | Mar 2024 −5.8 pp | Jun 2024 −5.9 pp | Sep 2024 −7.3 pp | Dec 2024 +5.7 pp | Mar 2025 0.0 pp | Jun 2025 −0.6 pp | Sep 2025 +2.7 pp | Dec 2025 −0.5 pp | Mar 2026 +2.8 pp | Jun 2026 −2.6 pp
- ASO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.0 pp | Dec 2022 −1.6 pp | Mar 2023 +0.7 pp | Jun 2023 −4.9 pp | Sep 2023 −1.9 pp | Dec 2023 −2.2 pp | Mar 2024 −0.3 pp | Jun 2024 −1.6 pp | Sep 2024 −1.0 pp | Dec 2024 −3.0 pp | Mar 2025 −2.2 pp | Jun 2025 −2.4 pp | Sep 2025 −1.5 pp | Dec 2025 +0.5 pp | Mar 2026 +0.7 pp | Jun 2026 +0.1 pp
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 0.0 pp | Mar 2026 −0.3 pp | Jun 2026 —
- EYE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.4 pp | Dec 2022 −6.7 pp | Mar 2023 — | Jun 2023 −1.5 pp | Sep 2023 −2.3 pp | Dec 2023 −6.0 pp | Mar 2024 — | Jun 2024 −5.5 pp | Sep 2024 −3.3 pp | Dec 2024 −2.9 pp | Mar 2025 +0.2 pp | Jun 2025 +3.3 pp | Sep 2025 +4.0 pp | Dec 2025 — | Mar 2026 −3.8 pp | Jun 2026 +4.9 pp
- SVV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.6 pp | Dec 2022 −1.5 pp | Mar 2023 — | Jun 2023 −5.5 pp | Sep 2023 +1.4 pp | Dec 2023 −7.8 pp | Mar 2024 — | Jun 2024 +3.7 pp | Sep 2024 −5.9 pp | Dec 2024 −1.4 pp | Mar 2025 −1.8 pp | Jun 2025 −0.1 pp | Sep 2025 −3.8 pp | Dec 2025 — | Mar 2026 +6.5 pp | Jun 2026 −5.1 pp
- SBH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −2.2 pp | Sep 2022 −7.1 pp | Dec 2022 −2.5 pp | Mar 2023 −1.7 pp | Jun 2023 −0.6 pp | Sep 2023 +4.2 pp | Dec 2023 −1.6 pp | Mar 2024 −1.2 pp | Jun 2024 −2.1 pp | Sep 2024 +0.5 pp | Dec 2024 +3.3 pp | Mar 2025 +1.3 pp | Jun 2025 +0.8 pp | Sep 2025 −0.4 pp | Dec 2025 −2.6 pp | Mar 2026 +0.1 pp | Jun 2026 —
- OLPX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +6.6 pp | Sep 2022 −3.6 pp | Dec 2022 −23.1 pp | Mar 2023 −27.0 pp | Jun 2023 −39.7 pp | Sep 2023 −20.6 pp | Dec 2023 −20.6 pp | Mar 2024 −11.5 pp | Jun 2024 −1.5 pp | Sep 2024 −6.2 pp | Dec 2024 −12.4 pp | Mar 2025 −11.1 pp | Jun 2025 −16.8 pp | Sep 2025 −19.8 pp | Dec 2025 −7.3 pp | Mar 2026 −13.8 pp | Jun 2026 —
- WINA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +1.9 pp | Sep 2022 −0.3 pp | Dec 2022 0.0 pp | Mar 2023 — | Jun 2023 −4.4 pp | Sep 2023 −3.0 pp | Dec 2023 −0.9 pp | Mar 2024 — | Jun 2024 +4.3 pp | Sep 2024 +4.3 pp | Dec 2024 +2.8 pp | Mar 2025 +1.2 pp | Jun 2025 −0.7 pp | Sep 2025 −3.5 pp | Dec 2025 −3.6 pp | Mar 2026 −2.7 pp | Jun 2026 —
- ARHS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +11.7 pp | Sep 2022 +6.8 pp | Dec 2022 +19.2 pp | Mar 2023 +5.6 pp | Jun 2023 +0.9 pp | Sep 2023 −7.4 pp | Dec 2023 −6.2 pp | Mar 2024 −8.7 pp | Jun 2024 −7.8 pp | Sep 2024 −4.0 pp | Dec 2024 −3.7 pp | Mar 2025 −4.5 pp | Jun 2025 +3.5 pp | Sep 2025 +1.5 pp | Dec 2025 −2.6 pp | Mar 2026 −1.0 pp | Jun 2026 —
- ARKO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −0.5 pp | Sep 2022 0.0 pp | Dec 2022 +0.1 pp | Mar 2023 −0.6 pp | Jun 2023 −0.3 pp | Sep 2023 −1.0 pp | Dec 2023 −0.4 pp | Mar 2024 −0.6 pp | Jun 2024 +0.2 pp | Sep 2024 +0.1 pp | Dec 2024 −0.4 pp | Mar 2025 −0.4 pp | Jun 2025 +1.0 pp | Sep 2025 0.0 pp | Dec 2025 +0.5 pp | Mar 2026 +1.2 pp | Jun 2026 —
- WOOF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.7 pp | Dec 2022 −1.1 pp | Mar 2023 −0.6 pp | Jun 2023 −1.6 pp | Sep 2023 −1.8 pp | Dec 2023 −85.7 pp | Mar 2024 −4.9 pp | Jun 2024 −2.9 pp | Sep 2024 −1.4 pp | Dec 2024 +82.8 pp | Mar 2025 +1.1 pp | Jun 2025 +2.2 pp | Sep 2025 +2.7 pp | Dec 2025 +1.7 pp | Mar 2026 +1.0 pp | Jun 2026 +0.5 pp
- HZO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +1.7 pp | Sep 2022 0.0 pp | Dec 2022 −2.8 pp | Mar 2023 −2.1 pp | Jun 2023 −3.5 pp | Sep 2023 −3.7 pp | Dec 2023 −3.6 pp | Mar 2024 −6.0 pp | Jun 2024 −2.2 pp | Sep 2024 −1.0 pp | Dec 2024 +4.7 pp | Mar 2025 −0.1 pp | Jun 2025 −14.4 pp | Sep 2025 −2.3 pp | Dec 2025 −7.3 pp | Mar 2026 −1.5 pp | Jun 2026 —
- EVGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −224.8 pp | Sep 2022 −171.4 pp | Dec 2022 +237.0 pp | Mar 2023 +220.0 pp | Jun 2023 +341.9 pp | Sep 2023 +277.5 pp | Dec 2023 +74.0 pp | Mar 2024 +109.8 pp | Jun 2024 +17.8 pp | Sep 2024 +56.5 pp | Dec 2024 +29.7 pp | Mar 2025 +14.3 pp | Jun 2025 +17.2 pp | Sep 2025 +10.2 pp | Dec 2025 +41.5 pp | Mar 2026 +11.2 pp | Jun 2026 —
- BNED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +21.2 pp | Sep 2022 −2.3 pp | Dec 2022 +0.5 pp | Mar 2023 +6.6 pp | Jun 2023 +0.1 pp | Sep 2023 +5.3 pp | Dec 2023 +2.5 pp | Mar 2024 +3.3 pp | Jun 2024 +8.6 pp | Sep 2024 +0.4 pp | Dec 2024 +0.5 pp | Mar 2025 −0.3 pp | Jun 2025 −6.5 pp | Sep 2025 +4.9 pp | Dec 2025 −0.2 pp | Mar 2026 +1.8 pp | Jun 2026 —
- BBW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.4 pp | Dec 2022 +1.2 pp | Mar 2023 +2.6 pp | Jun 2023 +0.6 pp | Sep 2023 +1.8 pp | Dec 2023 −0.1 pp | Mar 2024 −0.9 pp | Jun 2024 −3.4 pp | Sep 2024 +0.8 pp | Dec 2024 +1.5 pp | Mar 2025 +1.0 pp | Jun 2025 +2.4 pp | Sep 2025 +2.0 pp | Dec 2025 −2.3 pp | Mar 2026 −4.4 pp | Jun 2026 +3.9 pp
- BBBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −2.4 pp | Sep 2022 −3.0 pp | Dec 2022 −17.6 pp | Mar 2023 −4.5 pp | Jun 2023 −3.2 pp | Sep 2023 −12.2 pp | Dec 2023 −2.3 pp | Mar 2024 −12.8 pp | Jun 2024 −10.8 pp | Sep 2024 −3.5 pp | Dec 2024 +2.1 pp | Mar 2025 +5.0 pp | Jun 2025 +5.5 pp | Sep 2025 +9.7 pp | Dec 2025 +9.9 pp | Mar 2026 +2.7 pp | Jun 2026 —
- FLWS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.0 pp | Dec 2022 −25.9 pp | Mar 2023 +18.4 pp | Jun 2023 — | Sep 2023 −0.5 pp | Dec 2023 −0.4 pp | Mar 2024 −20.2 pp | Jun 2024 +12.6 pp | Sep 2024 −13.3 pp | Dec 2024 +25.7 pp | Mar 2025 −51.0 pp | Jun 2025 −8.8 pp | Sep 2025 −4.1 pp | Dec 2025 −1.1 pp | Mar 2026 +26.1 pp | Jun 2026 —
- ONEW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −0.7 pp | Sep 2022 −0.4 pp | Dec 2022 −2.1 pp | Mar 2023 −4.1 pp | Jun 2023 −5.3 pp | Sep 2023 −36.0 pp | Dec 2023 −5.4 pp | Mar 2024 −6.5 pp | Jun 2024 −2.7 pp | Sep 2024 +27.2 pp | Dec 2024 −2.3 pp | Mar 2025 +0.6 pp | Jun 2025 −1.9 pp | Sep 2025 −29.5 pp | Dec 2025 −0.9 pp | Mar 2026 −1.7 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Ulta Beauty, Inc. leads with $1,193 million of TTM profit, 4.4% above Best Buy Co., Inc.. GameStop Corp. shows ≥100% on the scoring scale (264.3% uncapped) growth from a $776 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Ulta Beauty, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Ulta Beauty, Inc. · $1,193 million | 4.4% versus #2 · Best Buy Co., Inc. | 2/8 recent comparable periods | 21/28 companies · 524 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Ulta Beauty, Inc. (ULTA): ₹1.2K Cr
2. Best Buy Co., Inc. (BBY): ₹1.1K Cr
3. Williams-Sonoma, Inc. (WSM): ₹1.1K Cr
4. DICK'S Sporting Goods, Inc. (DKS): ₹904 Cr
5. GameStop Corp. (GME): ₹776 Cr

### Profit growth — fastest growers
1. GameStop Corp. (GME): 100%
2. Five Below, Inc. (FIVE): 68%
3. Casey's General Stores, Inc. (CASY): 31%
4. Best Buy Co., Inc. (BBY): 29%
5. Murphy USA Inc. (MUSA): 13%

### 20-quarter Net profit history
- CASY: Sep 2021 ₹119 Cr | Dec 2021 ₹97 Cr | Mar 2022 ₹64 Cr | Jun 2022 ₹60 Cr | Sep 2022 ₹153 Cr | Dec 2022 ₹138 Cr | Mar 2023 ₹100 Cr | Jun 2023 ₹56 Cr | Sep 2023 ₹169 Cr | Dec 2023 ₹159 Cr | Mar 2024 ₹87 Cr | Jun 2024 ₹87 Cr | Sep 2024 ₹180 Cr | Dec 2024 ₹181 Cr | Mar 2025 ₹87 Cr | Jun 2025 ₹98 Cr | Sep 2025 ₹215 Cr | Dec 2025 ₹206 Cr | Mar 2026 ₹130 Cr | Jun 2026 ₹163 Cr
- WSM: Sep 2021 ₹246 Cr | Dec 2021 ₹250 Cr | Mar 2022 ₹403 Cr | Jun 2022 ₹254 Cr | Sep 2022 ₹267 Cr | Dec 2022 ₹252 Cr | Mar 2023 ₹355 Cr | Jun 2023 ₹157 Cr | Sep 2023 ₹202 Cr | Dec 2023 ₹237 Cr | Mar 2024 ₹354 Cr | Jun 2024 ₹260 Cr | Sep 2024 ₹217 Cr | Dec 2024 ₹237 Cr | Mar 2025 ₹411 Cr | Jun 2025 ₹231 Cr | Sep 2025 ₹248 Cr | Dec 2025 ₹242 Cr | Mar 2026 ₹368 Cr | Jun 2026 ₹231 Cr
- ULTA: Sep 2021 ₹251 Cr | Dec 2021 ₹215 Cr | Mar 2022 ₹289 Cr | Jun 2022 ₹331 Cr | Sep 2022 ₹296 Cr | Dec 2022 ₹275 Cr | Mar 2023 ₹341 Cr | Jun 2023 ₹347 Cr | Sep 2023 ₹300 Cr | Dec 2023 ₹249 Cr | Mar 2024 ₹394 Cr | Jun 2024 ₹313 Cr | Sep 2024 ₹253 Cr | Dec 2024 ₹242 Cr | Mar 2025 ₹393 Cr | Jun 2025 ₹306 Cr | Sep 2025 ₹261 Cr | Dec 2025 ₹232 Cr | Mar 2026 ₹358 Cr | Jun 2026 ₹342 Cr
- DKS: Sep 2021 ₹496 Cr | Dec 2021 ₹317 Cr | Mar 2022 ₹346 Cr | Jun 2022 ₹261 Cr | Sep 2022 ₹319 Cr | Dec 2022 ₹228 Cr | Mar 2023 ₹236 Cr | Jun 2023 ₹305 Cr | Sep 2023 ₹244 Cr | Dec 2023 ₹201 Cr | Mar 2024 ₹296 Cr | Jun 2024 ₹275 Cr | Sep 2024 ₹362 Cr | Dec 2024 ₹228 Cr | Mar 2025 ₹300 Cr | Jun 2025 ₹264 Cr | Sep 2025 ₹381 Cr | Dec 2025 ₹75 Cr | Mar 2026 ₹128 Cr | Jun 2026 ₹320 Cr
- BBY: Sep 2021 ₹734 Cr | Dec 2021 ₹499 Cr | Mar 2022 ₹626 Cr | Jun 2022 ₹341 Cr | Sep 2022 ₹306 Cr | Dec 2022 ₹277 Cr | Mar 2023 ₹495 Cr | Jun 2023 ₹244 Cr | Sep 2023 ₹274 Cr | Dec 2023 ₹263 Cr | Mar 2024 ₹460 Cr | Jun 2024 ₹246 Cr | Sep 2024 ₹291 Cr | Dec 2024 ₹273 Cr | Mar 2025 ₹117 Cr | Jun 2025 ₹202 Cr | Sep 2025 ₹186 Cr | Dec 2025 ₹140 Cr | Mar 2026 ₹541 Cr | Jun 2026 ₹276 Cr
- TSCO: Sep 2021 ₹224 Cr | Dec 2021 ₹221 Cr | Mar 2022 ₹187 Cr | Jun 2022 ₹396 Cr | Sep 2022 ₹234 Cr | Dec 2022 ₹271 Cr | Mar 2023 — | Jun 2023 ₹183 Cr | Sep 2023 ₹421 Cr | Dec 2023 ₹248 Cr | Mar 2024 ₹198 Cr | Jun 2024 ₹425 Cr | Sep 2024 ₹241 Cr | Dec 2024 ₹236 Cr | Mar 2025 ₹179 Cr | Jun 2025 ₹430 Cr | Sep 2025 ₹259 Cr | Dec 2025 ₹227 Cr | Mar 2026 ₹165 Cr | Jun 2026 —
- FIVE: Sep 2021 ₹65 Cr | Dec 2021 ₹24 Cr | Mar 2022 ₹140 Cr | Jun 2022 ₹33 Cr | Sep 2022 ₹41 Cr | Dec 2022 ₹16 Cr | Mar 2023 ₹171 Cr | Jun 2023 ₹37 Cr | Sep 2023 ₹47 Cr | Dec 2023 ₹15 Cr | Mar 2024 ₹202 Cr | Jun 2024 ₹31 Cr | Sep 2024 ₹33 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹187 Cr | Jun 2025 ₹41 Cr | Sep 2025 ₹43 Cr | Dec 2025 ₹37 Cr | Mar 2026 ₹238 Cr | Jun 2026 ₹123 Cr
- MUSA: Sep 2021 ₹104 Cr | Dec 2021 ₹109 Cr | Mar 2022 ₹152 Cr | Jun 2022 ₹183 Cr | Sep 2022 ₹220 Cr | Dec 2022 ₹118 Cr | Mar 2023 ₹106 Cr | Jun 2023 ₹133 Cr | Sep 2023 ₹168 Cr | Dec 2023 ₹150 Cr | Mar 2024 ₹66 Cr | Jun 2024 ₹145 Cr | Sep 2024 ₹149 Cr | Dec 2024 ₹143 Cr | Mar 2025 ₹53 Cr | Jun 2025 ₹146 Cr | Sep 2025 ₹130 Cr | Dec 2025 ₹142 Cr | Mar 2026 ₹136 Cr | Jun 2026 —
- GME: Sep 2021 ₹-62 Cr | Dec 2021 ₹-105 Cr | Mar 2022 ₹-188 Cr | Jun 2022 ₹-158 Cr | Sep 2022 ₹-109 Cr | Dec 2022 ₹-95 Cr | Mar 2023 ₹57 Cr | Jun 2023 ₹-51 Cr | Sep 2023 ₹-3 Cr | Dec 2023 ₹-6 Cr | Mar 2024 ₹79 Cr | Jun 2024 ₹-39 Cr | Sep 2024 ₹20 Cr | Dec 2024 ₹17 Cr | Mar 2025 ₹131 Cr | Jun 2025 ₹45 Cr | Sep 2025 ₹181 Cr | Dec 2025 ₹77 Cr | Mar 2026 ₹128 Cr | Jun 2026 ₹390 Cr
- BBWI: Sep 2021 ₹215 Cr | Dec 2021 ₹177 Cr | Mar 2022 ₹592 Cr | Jun 2022 ₹229 Cr | Sep 2022 ₹196 Cr | Dec 2022 ₹147 Cr | Mar 2023 ₹428 Cr | Jun 2023 ₹143 Cr | Sep 2023 ₹155 Cr | Dec 2023 ₹199 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹87 Cr | Sep 2024 ₹152 Cr | Dec 2024 ₹106 Cr | Mar 2025 ₹453 Cr | Jun 2025 ₹105 Cr | Sep 2025 ₹64 Cr | Dec 2025 ₹77 Cr | Mar 2026 ₹403 Cr | Jun 2026 ₹183 Cr
- RH: Sep 2021 ₹229 Cr | Dec 2021 ₹186 Cr | Mar 2022 ₹148 Cr | Jun 2022 ₹202 Cr | Sep 2022 ₹125 Cr | Dec 2022 ₹101 Cr | Mar 2023 ₹103 Cr | Jun 2023 ₹43 Cr | Sep 2023 ₹80 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹15 Cr | Jun 2024 ₹-1 Cr | Sep 2024 ₹34 Cr | Dec 2024 ₹35 Cr | Mar 2025 ₹17 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹53 Cr | Dec 2025 ₹36 Cr | Mar 2026 ₹30 Cr | Jun 2026 ₹-13 Cr
- ASO: Sep 2021 ₹191 Cr | Dec 2021 ₹161 Cr | Mar 2022 ₹142 Cr | Jun 2022 ₹150 Cr | Sep 2022 ₹189 Cr | Dec 2022 ₹132 Cr | Mar 2023 ₹158 Cr | Jun 2023 ₹94 Cr | Sep 2023 ₹157 Cr | Dec 2023 ₹100 Cr | Mar 2024 ₹168 Cr | Jun 2024 ₹76 Cr | Sep 2024 ₹143 Cr | Dec 2024 ₹66 Cr | Mar 2025 ₹134 Cr | Jun 2025 ₹46 Cr | Sep 2025 ₹125 Cr | Dec 2025 ₹72 Cr | Mar 2026 ₹134 Cr | Jun 2026 ₹53 Cr
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 ₹39 Cr | Mar 2025 ₹13 Cr | Jun 2025 — | Sep 2025 — | Dec 2025 ₹41 Cr | Mar 2026 ₹3 Cr | Jun 2026 —
- EYE: Sep 2021 ₹38 Cr | Dec 2021 ₹41 Cr | Mar 2022 ₹6 Cr | Jun 2022 ₹30 Cr | Sep 2022 ₹10 Cr | Dec 2022 ₹12 Cr | Mar 2023 — | Jun 2023 ₹16 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹-15 Cr | Mar 2024 ₹12 Cr | Jun 2024 ₹-1 Cr | Sep 2024 ₹-8 Cr | Dec 2024 ₹-29 Cr | Mar 2025 ₹14 Cr | Jun 2025 ₹9 Cr | Sep 2025 ₹3 Cr | Dec 2025 — | Mar 2026 ₹3 Cr | Jun 2026 ₹31 Cr
- SVV: Sep 2021 ₹-4 Cr | Dec 2021 ₹41 Cr | Mar 2022 ₹28 Cr | Jun 2022 ₹12 Cr | Sep 2022 ₹31 Cr | Dec 2022 ₹15 Cr | Mar 2023 — | Jun 2023 ₹-10 Cr | Sep 2023 ₹35 Cr | Dec 2023 ₹44 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹22 Cr | Dec 2024 ₹-2 Cr | Mar 2025 ₹-5 Cr | Jun 2025 ₹19 Cr | Sep 2025 ₹-14 Cr | Dec 2025 — | Mar 2026 ₹22 Cr | Jun 2026 ₹-5 Cr
- SBH: Sep 2021 ₹68 Cr | Dec 2021 ₹69 Cr | Mar 2022 ₹47 Cr | Jun 2022 ₹47 Cr | Sep 2022 ₹21 Cr | Dec 2022 ₹50 Cr | Mar 2023 ₹41 Cr | Jun 2023 ₹51 Cr | Sep 2023 ₹43 Cr | Dec 2023 ₹38 Cr | Mar 2024 ₹29 Cr | Jun 2024 ₹38 Cr | Sep 2024 ₹48 Cr | Dec 2024 ₹61 Cr | Mar 2025 ₹39 Cr | Jun 2025 ₹46 Cr | Sep 2025 ₹50 Cr | Dec 2025 ₹46 Cr | Mar 2026 ₹43 Cr | Jun 2026 —
- OLPX: Sep 2021 ₹57 Cr | Dec 2021 ₹69 Cr | Mar 2022 ₹62 Cr | Jun 2022 ₹88 Cr | Sep 2022 ₹61 Cr | Dec 2022 ₹34 Cr | Mar 2023 ₹21 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹14 Cr | Mar 2024 ₹8 Cr | Jun 2024 ₹6 Cr | Sep 2024 ₹15 Cr | Dec 2024 ₹-9 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹-8 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹-13 Cr | Mar 2026 ₹-5 Cr | Jun 2026 —
- WINA: Sep 2021 ₹10 Cr | Dec 2021 ₹12 Cr | Mar 2022 ₹10 Cr | Jun 2022 ₹9 Cr | Sep 2022 ₹10 Cr | Dec 2022 ₹10 Cr | Mar 2023 — | Jun 2023 ₹9 Cr | Sep 2023 ₹10 Cr | Dec 2023 ₹10 Cr | Mar 2024 ₹9 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹11 Cr | Dec 2024 ₹10 Cr | Mar 2025 ₹10 Cr | Jun 2025 ₹11 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹10 Cr | Mar 2026 ₹9 Cr | Jun 2026 —
- ARHS: Sep 2021 ₹14 Cr | Dec 2021 ₹7 Cr | Mar 2022 ₹16 Cr | Jun 2022 ₹37 Cr | Sep 2022 ₹37 Cr | Dec 2022 ₹47 Cr | Mar 2023 ₹34 Cr | Jun 2023 ₹40 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹31 Cr | Mar 2024 ₹15 Cr | Jun 2024 ₹22 Cr | Sep 2024 ₹10 Cr | Dec 2024 ₹21 Cr | Mar 2025 ₹5 Cr | Jun 2025 ₹35 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹15 Cr | Mar 2026 ₹2 Cr | Jun 2026 —
- ARKO: Sep 2021 ₹36 Cr | Dec 2021 ₹13 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹32 Cr | Sep 2022 ₹25 Cr | Dec 2022 ₹13 Cr | Mar 2023 ₹-2 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹22 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹-1 Cr | Jun 2024 ₹14 Cr | Sep 2024 ₹10 Cr | Dec 2024 ₹-2 Cr | Mar 2025 ₹-13 Cr | Jun 2025 ₹20 Cr | Sep 2025 ₹13 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹-6 Cr | Jun 2026 —
- WOOF: Sep 2021 ₹75 Cr | Dec 2021 ₹52 Cr | Mar 2022 ₹27 Cr | Jun 2022 ₹24 Cr | Sep 2022 ₹13 Cr | Dec 2022 ₹20 Cr | Mar 2023 ₹33 Cr | Jun 2023 ₹-2 Cr | Sep 2023 ₹-15 Cr | Dec 2023 ₹-1.2K Cr | Mar 2024 ₹-23 Cr | Jun 2024 ₹-46 Cr | Sep 2024 ₹-25 Cr | Dec 2024 ₹-17 Cr | Mar 2025 ₹-14 Cr | Jun 2025 ₹-12 Cr | Sep 2025 ₹14 Cr | Dec 2025 ₹9 Cr | Mar 2026 ₹-2 Cr | Jun 2026 ₹-15 Cr
- HZO: Sep 2021 ₹33 Cr | Dec 2021 ₹36 Cr | Mar 2022 ₹54 Cr | Jun 2022 ₹70 Cr | Sep 2022 ₹38 Cr | Dec 2022 ₹20 Cr | Mar 2023 ₹30 Cr | Jun 2023 ₹44 Cr | Sep 2023 ₹15 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹32 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹18 Cr | Mar 2025 ₹3 Cr | Jun 2025 ₹-52 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹-8 Cr | Mar 2026 ₹-3 Cr | Jun 2026 —
- EVGO: Sep 2021 ₹24 Cr | Dec 2021 ₹-46 Cr | Mar 2022 ₹-55 Cr | Jun 2022 ₹17 Cr | Sep 2022 ₹-51 Cr | Dec 2022 ₹-17 Cr | Mar 2023 ₹-49 Cr | Jun 2023 ₹-22 Cr | Sep 2023 ₹-28 Cr | Dec 2023 ₹-37 Cr | Mar 2024 ₹-28 Cr | Jun 2024 ₹-30 Cr | Sep 2024 ₹-33 Cr | Dec 2024 ₹-36 Cr | Mar 2025 ₹-26 Cr | Jun 2025 ₹-30 Cr | Sep 2025 ₹-28 Cr | Dec 2025 ₹-11 Cr | Mar 2026 ₹-37 Cr | Jun 2026 —
- BNED: Sep 2021 ₹-44 Cr | Dec 2021 ₹23 Cr | Mar 2022 ₹-37 Cr | Jun 2022 ₹-15 Cr | Sep 2022 ₹-50 Cr | Dec 2022 ₹24 Cr | Mar 2023 ₹-22 Cr | Jun 2023 ₹-42 Cr | Sep 2023 ₹-50 Cr | Dec 2023 ₹25 Cr | Mar 2024 ₹-10 Cr | Jun 2024 ₹-14 Cr | Sep 2024 ₹-104 Cr | Dec 2024 ₹43 Cr | Mar 2025 ₹18 Cr | Jun 2025 ₹-33 Cr | Sep 2025 ₹-18 Cr | Dec 2025 ₹25 Cr | Mar 2026 ₹7 Cr | Jun 2026 —
- BBW: Sep 2021 ₹7 Cr | Dec 2021 ₹6 Cr | Mar 2022 ₹24 Cr | Jun 2022 ₹14 Cr | Sep 2022 ₹6 Cr | Dec 2022 ₹7 Cr | Mar 2023 ₹21 Cr | Jun 2023 ₹15 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹8 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹11 Cr | Sep 2024 ₹9 Cr | Dec 2024 ₹10 Cr | Mar 2025 ₹22 Cr | Jun 2025 ₹15 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹8 Cr | Mar 2026 ₹16 Cr | Jun 2026 ₹18 Cr
- BBBY: Sep 2021 ₹61 Cr | Dec 2021 ₹66 Cr | Mar 2022 ₹10 Cr | Jun 2022 ₹7 Cr | Sep 2022 ₹-37 Cr | Dec 2022 ₹-16 Cr | Mar 2023 ₹-10 Cr | Jun 2023 ₹-73 Cr | Sep 2023 ₹-63 Cr | Dec 2023 ₹-161 Cr | Mar 2024 ₹-74 Cr | Jun 2024 ₹-43 Cr | Sep 2024 ₹-61 Cr | Dec 2024 ₹-81 Cr | Mar 2025 ₹-40 Cr | Jun 2025 ₹-19 Cr | Sep 2025 ₹-5 Cr | Dec 2025 ₹-21 Cr | Mar 2026 ₹-16 Cr | Jun 2026 —
- FLWS: Sep 2021 ₹-13 Cr | Dec 2021 ₹88 Cr | Mar 2022 ₹-23 Cr | Jun 2022 — | Sep 2022 ₹-22 Cr | Dec 2022 ₹-34 Cr | Mar 2023 ₹83 Cr | Jun 2023 ₹-71 Cr | Sep 2023 ₹-23 Cr | Dec 2023 ₹-31 Cr | Mar 2024 ₹-17 Cr | Jun 2024 ₹-21 Cr | Sep 2024 ₹-34 Cr | Dec 2024 ₹64 Cr | Mar 2025 ₹-178 Cr | Jun 2025 ₹-52 Cr | Sep 2025 ₹-53 Cr | Dec 2025 ₹71 Cr | Mar 2026 ₹-100 Cr | Jun 2026 —
- ONEW: Sep 2021 ₹22 Cr | Dec 2021 ₹23 Cr | Mar 2022 ₹42 Cr | Jun 2022 ₹64 Cr | Sep 2022 ₹22 Cr | Dec 2022 ₹11 Cr | Mar 2023 ₹27 Cr | Jun 2023 ₹33 Cr | Sep 2023 ₹-111 Cr | Dec 2023 ₹-8 Cr | Mar 2024 ₹-5 Cr | Jun 2024 ₹17 Cr | Sep 2024 ₹-10 Cr | Dec 2024 ₹-14 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹11 Cr | Sep 2025 ₹-113 Cr | Dec 2025 ₹-8 Cr | Mar 2026 ₹-13 Cr | Jun 2026 —

### 20-quarter Profit growth history
- CASY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 29% | Dec 2022 42% | Mar 2023 56% | Jun 2023 -6.7% | Sep 2023 10% | Dec 2023 15% | Mar 2024 -13% | Jun 2024 55% | Sep 2024 6.5% | Dec 2024 14% | Mar 2025 0.0% | Jun 2025 13% | Sep 2025 19% | Dec 2025 14% | Mar 2026 49% | Jun 2026 66%
- WSM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 8.5% | Dec 2022 0.8% | Mar 2023 -12% | Jun 2023 -38% | Sep 2023 -24% | Dec 2023 -6.0% | Mar 2024 -0.3% | Jun 2024 66% | Sep 2024 7.4% | Dec 2024 0.0% | Mar 2025 16% | Jun 2025 -11% | Sep 2025 14% | Dec 2025 2.1% | Mar 2026 -10% | Jun 2026 0.0%
- ULTA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 18% | Dec 2022 28% | Mar 2023 18% | Jun 2023 4.8% | Sep 2023 1.4% | Dec 2023 -9.5% | Mar 2024 16% | Jun 2024 -9.8% | Sep 2024 -16% | Dec 2024 -2.8% | Mar 2025 -0.3% | Jun 2025 -2.2% | Sep 2025 3.2% | Dec 2025 -4.1% | Mar 2026 -8.9% | Jun 2026 12%
- DKS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -36% | Dec 2022 -28% | Mar 2023 -32% | Jun 2023 17% | Sep 2023 -24% | Dec 2023 -12% | Mar 2024 25% | Jun 2024 -9.8% | Sep 2024 48% | Dec 2024 13% | Mar 2025 1.4% | Jun 2025 -4.0% | Sep 2025 5.3% | Dec 2025 -67% | Mar 2026 -57% | Jun 2026 21%
- BBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -58% | Dec 2022 -44% | Mar 2023 -21% | Jun 2023 -28% | Sep 2023 -10% | Dec 2023 -5.1% | Mar 2024 -7.1% | Jun 2024 0.8% | Sep 2024 6.2% | Dec 2024 3.8% | Mar 2025 -75% | Jun 2025 -18% | Sep 2025 -36% | Dec 2025 -49% | Mar 2026 362% | Jun 2026 37%
- TSCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 7.0% | Sep 2022 4.5% | Dec 2022 23% | Mar 2023 — | Jun 2023 -54% | Sep 2023 80% | Dec 2023 -8.5% | Mar 2024 — | Jun 2024 132% | Sep 2024 -43% | Dec 2024 -4.8% | Mar 2025 -9.6% | Jun 2025 1.2% | Sep 2025 7.5% | Dec 2025 -3.8% | Mar 2026 -7.8% | Jun 2026 —
- FIVE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -37% | Dec 2022 -33% | Mar 2023 22% | Jun 2023 12% | Sep 2023 15% | Dec 2023 -6.3% | Mar 2024 18% | Jun 2024 -16% | Sep 2024 -30% | Dec 2024 -87% | Mar 2025 -7.4% | Jun 2025 32% | Sep 2025 30% | Dec 2025 1,750% | Mar 2026 27% | Jun 2026 200%
- MUSA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 42% | Sep 2022 112% | Dec 2022 8.3% | Mar 2023 -30% | Jun 2023 -27% | Sep 2023 -24% | Dec 2023 27% | Mar 2024 -38% | Jun 2024 9.0% | Sep 2024 -11% | Dec 2024 -4.7% | Mar 2025 -20% | Jun 2025 0.7% | Sep 2025 -13% | Dec 2025 -0.7% | Mar 2026 157% | Jun 2026 —
- GME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 39% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 66% | Jun 2025 — | Sep 2025 805% | Dec 2025 353% | Mar 2026 -2.3% | Jun 2026 767%
- BBWI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -8.8% | Dec 2022 -17% | Mar 2023 -28% | Jun 2023 -38% | Sep 2023 -21% | Dec 2023 35% | Mar 2024 -100% | Jun 2024 -39% | Sep 2024 -1.9% | Dec 2024 -47% | Mar 2025 — | Jun 2025 21% | Sep 2025 -58% | Dec 2025 -27% | Mar 2026 -11% | Jun 2026 74%
- RH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -45% | Dec 2022 -46% | Mar 2023 -30% | Jun 2023 -79% | Sep 2023 -36% | Dec 2023 -99% | Mar 2024 -85% | Jun 2024 -102% | Sep 2024 -58% | Dec 2024 3,400% | Mar 2025 13% | Jun 2025 — | Sep 2025 56% | Dec 2025 2.9% | Mar 2026 76% | Jun 2026 —
- ASO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -1.1% | Dec 2022 -18% | Mar 2023 11% | Jun 2023 -37% | Sep 2023 -17% | Dec 2023 -24% | Mar 2024 6.3% | Jun 2024 -19% | Sep 2024 -8.9% | Dec 2024 -34% | Mar 2025 -20% | Jun 2025 -39% | Sep 2025 -13% | Dec 2025 9.1% | Mar 2026 0.0% | Jun 2026 15%
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 5.1% | Mar 2026 -77% | Jun 2026 —
- EYE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -74% | Dec 2022 -71% | Mar 2023 — | Jun 2023 -47% | Sep 2023 -60% | Dec 2023 -225% | Mar 2024 — | Jun 2024 -106% | Sep 2024 -300% | Dec 2024 — | Mar 2025 17% | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 -79% | Jun 2026 244%
- SVV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -63% | Mar 2023 — | Jun 2023 -183% | Sep 2023 13% | Dec 2023 193% | Mar 2024 — | Jun 2024 — | Sep 2024 -37% | Dec 2024 -105% | Mar 2025 — | Jun 2025 90% | Sep 2025 -164% | Dec 2025 — | Mar 2026 — | Jun 2026 -126%
- SBH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -38% | Sep 2022 -69% | Dec 2022 -28% | Mar 2023 -13% | Jun 2023 8.5% | Sep 2023 105% | Dec 2023 -24% | Mar 2024 -29% | Jun 2024 -25% | Sep 2024 12% | Dec 2024 61% | Mar 2025 34% | Jun 2025 21% | Sep 2025 4.2% | Dec 2025 -25% | Mar 2026 10% | Jun 2026 —
- OLPX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 80% | Sep 2022 7.0% | Dec 2022 -51% | Mar 2023 -66% | Jun 2023 -93% | Sep 2023 -67% | Dec 2023 -59% | Mar 2024 -62% | Jun 2024 0.0% | Sep 2024 -25% | Dec 2024 -164% | Mar 2025 -100% | Jun 2025 -233% | Sep 2025 -27% | Dec 2025 — | Mar 2026 — | Jun 2026 —
- WINA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 -17% | Mar 2023 — | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 — | Jun 2024 11% | Sep 2024 10% | Dec 2024 0.0% | Mar 2025 11% | Jun 2025 10% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 -10% | Jun 2026 —
- ARHS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 429% | Sep 2022 164% | Dec 2022 571% | Mar 2023 113% | Jun 2023 8.1% | Sep 2023 -46% | Dec 2023 -34% | Mar 2024 -56% | Jun 2024 -45% | Sep 2024 -50% | Dec 2024 -32% | Mar 2025 -67% | Jun 2025 59% | Sep 2025 20% | Dec 2025 -29% | Mar 2026 -60% | Jun 2026 —
- ARKO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 23% | Sep 2022 -31% | Dec 2022 0.0% | Mar 2023 -200% | Jun 2023 -53% | Sep 2023 -12% | Dec 2023 -92% | Mar 2024 — | Jun 2024 -6.7% | Sep 2024 -55% | Dec 2024 -300% | Mar 2025 — | Jun 2025 43% | Sep 2025 30% | Dec 2025 — | Mar 2026 — | Jun 2026 —
- WOOF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -83% | Dec 2022 -62% | Mar 2023 22% | Jun 2023 -108% | Sep 2023 -215% | Dec 2023 -6,305% | Mar 2024 -170% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- HZO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 17% | Sep 2022 15% | Dec 2022 -44% | Mar 2023 -44% | Jun 2023 -37% | Sep 2023 -61% | Dec 2023 -95% | Mar 2024 -97% | Jun 2024 -27% | Sep 2024 -67% | Dec 2024 1,700% | Mar 2025 200% | Jun 2025 -263% | Sep 2025 -100% | Dec 2025 -144% | Mar 2026 -200% | Jun 2026 —
- EVGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -313% | Dec 2022 — | Mar 2023 — | Jun 2023 -229% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- BNED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 4.4% | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 4.2% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 72% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 -42% | Mar 2026 -61% | Jun 2026 —
- BBW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -14% | Dec 2022 17% | Mar 2023 -13% | Jun 2023 7.1% | Sep 2023 33% | Dec 2023 14% | Mar 2024 4.8% | Jun 2024 -27% | Sep 2024 13% | Dec 2024 25% | Mar 2025 0.0% | Jun 2025 36% | Sep 2025 33% | Dec 2025 -20% | Mar 2026 -27% | Jun 2026 20%
- BBBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -91% | Sep 2022 -161% | Dec 2022 -124% | Mar 2023 -200% | Jun 2023 -1,143% | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- FLWS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -139% | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 -120% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 11% | Mar 2026 — | Jun 2026 —
- ONEW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 23% | Sep 2022 0.0% | Dec 2022 -52% | Mar 2023 -36% | Jun 2023 -48% | Sep 2023 -605% | Dec 2023 -173% | Mar 2024 -119% | Jun 2024 -48% | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -35% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: DICK'S Sporting Goods, Inc. reports $361 million of CAPEX; EVgo, Inc. has the highest covered intensity at 28.2%. Coverage is only 28 of 28 companies and 527 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: DICK'S Sporting Goods, Inc. · $361 million | 54.9% versus #2 · Tractor Supply Company | 8/8 recent comparable periods | 28/28 companies · 527 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. DICK'S Sporting Goods, Inc. (DKS): ₹361 Cr
2. Tractor Supply Company (TSCO): ₹233 Cr
3. Casey's General Stores, Inc. (CASY): ₹191 Cr
4. Best Buy Co., Inc. (BBY): ₹160 Cr
5. Murphy USA Inc. (MUSA): ₹98 Cr

### CAPEX intensity — highest reinvestment intensity
1. EVgo, Inc. (EVGO): 28%
2. DICK'S Sporting Goods, Inc. (DKS): 7.0%
3. Savers Value Village, Inc. (SVV): 6.9%
4. Tractor Supply Company (TSCO): 5.7%
5. Build-A-Bear Workshop, Inc. (BBW): 5.6%

### 20-quarter CAPEX history
- CASY: Sep 2021 ₹45 Cr | Dec 2021 ₹78 Cr | Mar 2022 ₹105 Cr | Jun 2022 ₹98 Cr | Sep 2022 ₹82 Cr | Dec 2022 ₹95 Cr | Mar 2023 ₹124 Cr | Jun 2023 ₹175 Cr | Sep 2023 ₹69 Cr | Dec 2023 ₹107 Cr | Mar 2024 ₹150 Cr | Jun 2024 ₹196 Cr | Sep 2024 ₹101 Cr | Dec 2024 ₹111 Cr | Mar 2025 ₹114 Cr | Jun 2025 ₹181 Cr | Sep 2025 ₹110 Cr | Dec 2025 ₹171 Cr | Mar 2026 ₹184 Cr | Jun 2026 ₹191 Cr
- WSM: Sep 2021 ₹36 Cr | Dec 2021 ₹63 Cr | Mar 2022 ₹86 Cr | Jun 2022 ₹71 Cr | Sep 2022 ₹77 Cr | Dec 2022 ₹86 Cr | Mar 2023 ₹120 Cr | Jun 2023 ₹50 Cr | Sep 2023 ₹43 Cr | Dec 2023 ₹42 Cr | Mar 2024 ₹54 Cr | Jun 2024 ₹40 Cr | Sep 2024 ₹31 Cr | Dec 2024 ₹83 Cr | Mar 2025 ₹67 Cr | Jun 2025 ₹58 Cr | Sep 2025 ₹52 Cr | Dec 2025 ₹68 Cr | Mar 2026 ₹81 Cr | Jun 2026 ₹58 Cr
- ULTA: Sep 2021 ₹23 Cr | Dec 2021 ₹51 Cr | Mar 2022 ₹64 Cr | Jun 2022 ₹71 Cr | Sep 2022 ₹49 Cr | Dec 2022 ₹83 Cr | Mar 2023 ₹108 Cr | Jun 2023 ₹110 Cr | Sep 2023 ₹95 Cr | Dec 2023 ₹106 Cr | Mar 2024 ₹124 Cr | Jun 2024 ₹91 Cr | Sep 2024 ₹95 Cr | Dec 2024 ₹114 Cr | Mar 2025 ₹74 Cr | Jun 2025 ₹79 Cr | Sep 2025 ₹77 Cr | Dec 2025 ₹87 Cr | Mar 2026 ₹192 Cr | Jun 2026 ₹58 Cr
- DKS: Sep 2021 ₹97 Cr | Dec 2021 ₹63 Cr | Mar 2022 ₹77 Cr | Jun 2022 ₹74 Cr | Sep 2022 ₹94 Cr | Dec 2022 ₹107 Cr | Mar 2023 ₹90 Cr | Jun 2023 ₹85 Cr | Sep 2023 ₹164 Cr | Dec 2023 ₹161 Cr | Mar 2024 ₹178 Cr | Jun 2024 ₹158 Cr | Sep 2024 ₹215 Cr | Dec 2024 ₹193 Cr | Mar 2025 ₹237 Cr | Jun 2025 ₹265 Cr | Sep 2025 ₹261 Cr | Dec 2025 ₹267 Cr | Mar 2026 ₹344 Cr | Jun 2026 ₹361 Cr
- BBY: Sep 2021 ₹162 Cr | Dec 2021 ₹225 Cr | Mar 2022 ₹189 Cr | Jun 2022 ₹215 Cr | Sep 2022 ₹226 Cr | Dec 2022 ₹255 Cr | Mar 2023 ₹234 Cr | Jun 2023 ₹204 Cr | Sep 2023 ₹191 Cr | Dec 2023 ₹217 Cr | Mar 2024 ₹183 Cr | Jun 2024 ₹152 Cr | Sep 2024 ₹183 Cr | Dec 2024 ₹193 Cr | Mar 2025 ₹178 Cr | Jun 2025 ₹166 Cr | Sep 2025 ₹175 Cr | Dec 2025 ₹188 Cr | Mar 2026 ₹175 Cr | Jun 2026 ₹160 Cr
- TSCO: Sep 2021 ₹166 Cr | Dec 2021 ₹246 Cr | Mar 2022 ₹112 Cr | Jun 2022 ₹153 Cr | Sep 2022 ₹186 Cr | Dec 2022 ₹322 Cr | Mar 2023 — | Jun 2023 ₹158 Cr | Sep 2023 ₹192 Cr | Dec 2023 ₹227 Cr | Mar 2024 ₹157 Cr | Jun 2024 ₹193 Cr | Sep 2024 ₹188 Cr | Dec 2024 ₹246 Cr | Mar 2025 ₹141 Cr | Jun 2025 ₹210 Cr | Sep 2025 ₹278 Cr | Dec 2025 ₹266 Cr | Mar 2026 ₹203 Cr | Jun 2026 ₹233 Cr
- FIVE: Sep 2021 ₹58 Cr | Dec 2021 ₹79 Cr | Mar 2022 ₹75 Cr | Jun 2022 ₹58 Cr | Sep 2022 ₹52 Cr | Dec 2022 ₹64 Cr | Mar 2023 ₹78 Cr | Jun 2023 ₹45 Cr | Sep 2023 ₹71 Cr | Dec 2023 ₹115 Cr | Mar 2024 ₹103 Cr | Jun 2024 ₹88 Cr | Sep 2024 ₹104 Cr | Dec 2024 ₹80 Cr | Mar 2025 ₹52 Cr | Jun 2025 ₹36 Cr | Sep 2025 ₹45 Cr | Dec 2025 ₹53 Cr | Mar 2026 ₹41 Cr | Jun 2026 ₹37 Cr
- MUSA: Sep 2021 ₹75 Cr | Dec 2021 ₹63 Cr | Mar 2022 ₹64 Cr | Jun 2022 ₹81 Cr | Sep 2022 ₹78 Cr | Dec 2022 ₹82 Cr | Mar 2023 ₹73 Cr | Jun 2023 ₹73 Cr | Sep 2023 ₹79 Cr | Dec 2023 ₹111 Cr | Mar 2024 ₹76 Cr | Jun 2024 ₹118 Cr | Sep 2024 ₹137 Cr | Dec 2024 ₹127 Cr | Mar 2025 ₹88 Cr | Jun 2025 ₹118 Cr | Sep 2025 ₹117 Cr | Dec 2025 ₹117 Cr | Mar 2026 ₹98 Cr | Jun 2026 —
- GME: Sep 2021 ₹14 Cr | Dec 2021 ₹13 Cr | Mar 2022 ₹21 Cr | Jun 2022 ₹11 Cr | Sep 2022 ₹21 Cr | Dec 2022 ₹13 Cr | Mar 2023 ₹12 Cr | Jun 2023 ₹9 Cr | Sep 2023 ₹10 Cr | Dec 2023 ₹8 Cr | Mar 2024 ₹8 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹5 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹4 Cr | Mar 2026 ₹6 Cr | Jun 2026 ₹5 Cr
- BBWI: Sep 2021 ₹113 Cr | Dec 2021 ₹32 Cr | Mar 2022 ₹32 Cr | Jun 2022 ₹88 Cr | Sep 2022 ₹73 Cr | Dec 2022 ₹46 Cr | Mar 2023 ₹46 Cr | Jun 2023 ₹93 Cr | Sep 2023 ₹85 Cr | Dec 2023 ₹72 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹46 Cr | Sep 2024 ₹55 Cr | Dec 2024 ₹65 Cr | Mar 2025 ₹60 Cr | Jun 2025 ₹37 Cr | Sep 2025 ₹56 Cr | Dec 2025 ₹81 Cr | Mar 2026 ₹63 Cr | Jun 2026 ₹49 Cr
- RH: Sep 2021 ₹32 Cr | Dec 2021 ₹72 Cr | Mar 2022 ₹32 Cr | Jun 2022 ₹29 Cr | Sep 2022 ₹33 Cr | Dec 2022 ₹47 Cr | Mar 2023 ₹64 Cr | Jun 2023 ₹34 Cr | Sep 2023 ₹47 Cr | Dec 2023 ₹50 Cr | Mar 2024 ₹138 Cr | Jun 2024 ₹66 Cr | Sep 2024 ₹49 Cr | Dec 2024 ₹65 Cr | Mar 2025 ₹51 Cr | Jun 2025 ₹53 Cr | Sep 2025 ₹57 Cr | Dec 2025 ₹49 Cr | Mar 2026 ₹41 Cr | Jun 2026 ₹39 Cr
- ASO: Sep 2021 ₹17 Cr | Dec 2021 ₹25 Cr | Mar 2022 ₹17 Cr | Jun 2022 ₹17 Cr | Sep 2022 ₹31 Cr | Dec 2022 ₹31 Cr | Mar 2023 ₹29 Cr | Jun 2023 ₹40 Cr | Sep 2023 ₹69 Cr | Dec 2023 ₹42 Cr | Mar 2024 ₹56 Cr | Jun 2024 ₹32 Cr | Sep 2024 ₹41 Cr | Dec 2024 ₹62 Cr | Mar 2025 ₹64 Cr | Jun 2025 ₹51 Cr | Sep 2025 ₹57 Cr | Dec 2025 ₹63 Cr | Mar 2026 ₹43 Cr | Jun 2026 ₹39 Cr
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 ₹18 Cr | Mar 2025 ₹16 Cr | Jun 2025 — | Sep 2025 — | Dec 2025 ₹25 Cr | Mar 2026 ₹32 Cr | Jun 2026 —
- EYE: Sep 2021 ₹22 Cr | Dec 2021 ₹20 Cr | Mar 2022 ₹37 Cr | Jun 2022 ₹28 Cr | Sep 2022 ₹28 Cr | Dec 2022 ₹30 Cr | Mar 2023 — | Jun 2023 ₹28 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹33 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹20 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹32 Cr | Mar 2025 ₹20 Cr | Jun 2025 ₹12 Cr | Sep 2025 ₹16 Cr | Dec 2025 — | Mar 2026 ₹24 Cr | Jun 2026 ₹18 Cr
- SVV: Sep 2021 ₹7 Cr | Dec 2021 ₹12 Cr | Mar 2022 ₹17 Cr | Jun 2022 ₹26 Cr | Sep 2022 ₹32 Cr | Dec 2022 ₹23 Cr | Mar 2023 — | Jun 2023 ₹21 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹17 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹31 Cr | Sep 2024 ₹27 Cr | Dec 2024 ₹26 Cr | Mar 2025 ₹21 Cr | Jun 2025 ₹33 Cr | Sep 2025 ₹28 Cr | Dec 2025 — | Mar 2026 ₹38 Cr | Jun 2026 ₹28 Cr
- SBH: Sep 2021 ₹29 Cr | Dec 2021 ₹26 Cr | Mar 2022 ₹18 Cr | Jun 2022 ₹23 Cr | Sep 2022 ₹32 Cr | Dec 2022 ₹25 Cr | Mar 2023 ₹17 Cr | Jun 2023 ₹22 Cr | Sep 2023 ₹27 Cr | Dec 2023 ₹31 Cr | Mar 2024 ₹14 Cr | Jun 2024 ₹19 Cr | Sep 2024 ₹37 Cr | Dec 2024 ₹20 Cr | Mar 2025 ₹19 Cr | Jun 2025 ₹20 Cr | Sep 2025 ₹43 Cr | Dec 2025 ₹36 Cr | Mar 2026 ₹29 Cr | Jun 2026 —
- OLPX: Sep 2021 ₹1 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹1 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹0 Cr | Jun 2026 —
- WINA: Sep 2021 ₹0 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 — | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹0 Cr | Jun 2026 ₹0 Cr
- ARHS: Sep 2021 ₹16 Cr | Dec 2021 ₹18 Cr | Mar 2022 ₹10 Cr | Jun 2022 ₹10 Cr | Sep 2022 ₹17 Cr | Dec 2022 ₹15 Cr | Mar 2023 ₹12 Cr | Jun 2023 ₹24 Cr | Sep 2023 ₹24 Cr | Dec 2023 ₹35 Cr | Mar 2024 ₹26 Cr | Jun 2024 ₹36 Cr | Sep 2024 ₹27 Cr | Dec 2024 ₹19 Cr | Mar 2025 ₹28 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹18 Cr | Dec 2025 ₹18 Cr | Mar 2026 ₹17 Cr | Jun 2026 —
- ARKO: Sep 2021 ₹15 Cr | Dec 2021 ₹178 Cr | Mar 2022 ₹21 Cr | Jun 2022 ₹25 Cr | Sep 2022 ₹28 Cr | Dec 2022 ₹26 Cr | Mar 2023 ₹23 Cr | Jun 2023 ₹27 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹36 Cr | Mar 2024 ₹29 Cr | Jun 2024 ₹19 Cr | Sep 2024 ₹29 Cr | Dec 2024 ₹36 Cr | Mar 2025 ₹27 Cr | Jun 2025 ₹45 Cr | Sep 2025 ₹25 Cr | Dec 2025 ₹30 Cr | Mar 2026 ₹30 Cr | Jun 2026 —
- WOOF: Sep 2021 ₹53 Cr | Dec 2021 ₹64 Cr | Mar 2022 ₹75 Cr | Jun 2022 ₹66 Cr | Sep 2022 ₹70 Cr | Dec 2022 ₹76 Cr | Mar 2023 ₹66 Cr | Jun 2023 ₹62 Cr | Sep 2023 ₹52 Cr | Dec 2023 ₹63 Cr | Mar 2024 ₹49 Cr | Jun 2024 ₹33 Cr | Sep 2024 ₹27 Cr | Dec 2024 ₹31 Cr | Mar 2025 ₹37 Cr | Jun 2025 ₹28 Cr | Sep 2025 ₹32 Cr | Dec 2025 ₹29 Cr | Mar 2026 ₹37 Cr | Jun 2026 ₹38 Cr
- HZO: Sep 2021 ₹8 Cr | Dec 2021 ₹24 Cr | Mar 2022 ₹8 Cr | Jun 2022 ₹11 Cr | Sep 2022 ₹15 Cr | Dec 2022 ₹10 Cr | Mar 2023 ₹15 Cr | Jun 2023 ₹23 Cr | Sep 2023 ₹17 Cr | Dec 2023 ₹13 Cr | Mar 2024 ₹15 Cr | Jun 2024 ₹15 Cr | Sep 2024 ₹17 Cr | Dec 2024 ₹18 Cr | Mar 2025 ₹13 Cr | Jun 2025 ₹16 Cr | Sep 2025 — | Dec 2025 ₹9 Cr | Mar 2026 ₹11 Cr | Jun 2026 ₹8 Cr
- EVGO: Sep 2021 ₹16 Cr | Dec 2021 ₹25 Cr | Mar 2022 ₹28 Cr | Jun 2022 ₹44 Cr | Sep 2022 ₹62 Cr | Dec 2022 ₹66 Cr | Mar 2023 ₹65 Cr | Jun 2023 ₹35 Cr | Sep 2023 ₹24 Cr | Dec 2023 ₹35 Cr | Mar 2024 ₹21 Cr | Jun 2024 ₹24 Cr | Sep 2024 ₹26 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹15 Cr | Jun 2025 ₹26 Cr | Sep 2025 ₹26 Cr | Dec 2025 ₹49 Cr | Mar 2026 ₹31 Cr | Jun 2026 —
- BNED: Sep 2021 ₹11 Cr | Dec 2021 ₹10 Cr | Mar 2022 ₹12 Cr | Jun 2022 ₹10 Cr | Sep 2022 ₹8 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹5 Cr | Jun 2023 ₹3 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹3 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹4 Cr | Dec 2025 ₹4 Cr | Mar 2026 ₹4 Cr | Jun 2026 ₹4 Cr
- BBW: Sep 2021 ₹1 Cr | Dec 2021 ₹3 Cr | Mar 2022 ₹3 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹3 Cr | Mar 2023 ₹7 Cr | Jun 2023 ₹3 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹5 Cr | Mar 2024 ₹7 Cr | Jun 2024 ₹2 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹4 Cr | Mar 2025 ₹10 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹7 Cr | Mar 2026 ₹13 Cr | Jun 2026 ₹7 Cr
- BBBY: Sep 2021 ₹4 Cr | Dec 2021 ₹4 Cr | Mar 2022 ₹3 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹5 Cr | Mar 2023 ₹5 Cr | Jun 2023 ₹7 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹2 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹1 Cr | Jun 2026 —
- FLWS: Sep 2021 ₹11 Cr | Dec 2021 ₹21 Cr | Mar 2022 ₹15 Cr | Jun 2022 — | Sep 2022 ₹18 Cr | Dec 2022 ₹11 Cr | Mar 2023 ₹13 Cr | Jun 2023 ₹8 Cr | Sep 2023 ₹13 Cr | Dec 2023 ₹7 Cr | Mar 2024 ₹9 Cr | Jun 2024 ₹12 Cr | Sep 2024 ₹12 Cr | Dec 2024 ₹11 Cr | Mar 2025 ₹9 Cr | Jun 2025 ₹9 Cr | Sep 2025 ₹7 Cr | Dec 2025 ₹8 Cr | Mar 2026 ₹9 Cr | Jun 2026 —
- ONEW: Sep 2021 ₹2 Cr | Dec 2021 ₹3 Cr | Mar 2022 ₹5 Cr | Jun 2022 ₹4 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹6 Cr | Mar 2023 ₹6 Cr | Jun 2023 ₹5 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹5 Cr | Mar 2024 ₹10 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹5 Cr | Jun 2025 ₹2 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹2 Cr | Mar 2026 ₹2 Cr | Jun 2026 —

### 20-quarter CAPEX intensity history
- CASY: Sep 2021 1.4% | Dec 2021 2.4% | Mar 2022 3.4% | Jun 2022 2.8% | Sep 2022 1.8% | Dec 2022 2.4% | Mar 2023 3.7% | Jun 2023 5.3% | Sep 2023 1.8% | Dec 2023 2.6% | Mar 2024 4.5% | Jun 2024 5.4% | Sep 2024 2.5% | Dec 2024 2.8% | Mar 2025 2.9% | Jun 2025 4.5% | Sep 2025 2.4% | Dec 2025 3.8% | Mar 2026 4.7% | Jun 2026 4.2%
- WSM: Sep 2021 1.8% | Dec 2021 3.1% | Mar 2022 3.4% | Jun 2022 3.8% | Sep 2022 3.6% | Dec 2022 3.9% | Mar 2023 4.9% | Jun 2023 2.8% | Sep 2023 2.3% | Dec 2023 2.3% | Mar 2024 2.4% | Jun 2024 2.4% | Sep 2024 1.7% | Dec 2024 4.6% | Mar 2025 2.7% | Jun 2025 3.4% | Sep 2025 2.8% | Dec 2025 3.6% | Mar 2026 3.4% | Jun 2026 3.2%
- ULTA: Sep 2021 1.2% | Dec 2021 2.6% | Mar 2022 2.3% | Jun 2022 3.0% | Sep 2022 2.1% | Dec 2022 3.5% | Mar 2023 3.3% | Jun 2023 4.2% | Sep 2023 3.8% | Dec 2023 4.3% | Mar 2024 3.5% | Jun 2024 3.3% | Sep 2024 3.7% | Dec 2024 4.5% | Mar 2025 2.1% | Jun 2025 2.8% | Sep 2025 2.8% | Dec 2025 3.0% | Mar 2026 4.9% | Jun 2026 1.8%
- DKS: Sep 2021 3.0% | Dec 2021 2.3% | Mar 2022 2.3% | Jun 2022 2.7% | Sep 2022 3.0% | Dec 2022 3.6% | Mar 2023 2.5% | Jun 2023 3.0% | Sep 2023 5.1% | Dec 2023 5.3% | Mar 2024 4.6% | Jun 2024 5.2% | Sep 2024 6.2% | Dec 2024 6.3% | Mar 2025 6.1% | Jun 2025 8.3% | Sep 2025 7.2% | Dec 2025 6.4% | Mar 2026 5.5% | Jun 2026 7.0%
- BBY: Sep 2021 1.4% | Dec 2021 1.9% | Mar 2022 1.2% | Jun 2022 2.0% | Sep 2022 2.2% | Dec 2022 2.4% | Mar 2023 1.6% | Jun 2023 2.2% | Sep 2023 2.0% | Dec 2023 2.2% | Mar 2024 1.2% | Jun 2024 1.7% | Sep 2024 2.0% | Dec 2024 2.0% | Mar 2025 1.3% | Jun 2025 1.9% | Sep 2025 1.9% | Dec 2025 1.9% | Mar 2026 1.3% | Jun 2026 1.8%
- TSCO: Sep 2021 5.5% | Dec 2021 7.4% | Mar 2022 3.7% | Jun 2022 3.9% | Sep 2022 5.7% | Dec 2022 8.0% | Mar 2023 — | Jun 2023 4.8% | Sep 2023 4.6% | Dec 2023 6.2% | Mar 2024 4.6% | Jun 2024 4.5% | Sep 2024 5.4% | Dec 2024 6.5% | Mar 2025 4.1% | Jun 2025 4.7% | Sep 2025 7.5% | Dec 2025 6.8% | Mar 2026 5.7% | Jun 2026 —
- FIVE: Sep 2021 9.0% | Dec 2021 13% | Mar 2022 7.5% | Jun 2022 9.1% | Sep 2022 7.8% | Dec 2022 9.9% | Mar 2023 6.9% | Jun 2023 6.2% | Sep 2023 9.4% | Dec 2023 16% | Mar 2024 7.7% | Jun 2024 11% | Sep 2024 13% | Dec 2024 9.5% | Mar 2025 3.7% | Jun 2025 3.7% | Sep 2025 4.4% | Dec 2025 5.1% | Mar 2026 2.4% | Jun 2026 2.9%
- MUSA: Sep 2021 1.6% | Dec 2021 1.3% | Mar 2022 1.3% | Jun 2022 1.2% | Sep 2022 1.3% | Dec 2022 1.5% | Mar 2023 1.4% | Jun 2023 1.3% | Sep 2023 1.4% | Dec 2023 2.2% | Mar 2024 1.6% | Jun 2024 2.2% | Sep 2024 2.6% | Dec 2024 2.7% | Mar 2025 1.9% | Jun 2025 2.4% | Sep 2025 2.3% | Dec 2025 2.5% | Mar 2026 2.0% | Jun 2026 —
- GME: Sep 2021 1.2% | Dec 2021 1.0% | Mar 2022 0.9% | Jun 2022 0.8% | Sep 2022 1.8% | Dec 2022 1.1% | Mar 2023 0.5% | Jun 2023 0.7% | Sep 2023 0.9% | Dec 2023 0.7% | Mar 2024 0.4% | Jun 2024 0.6% | Sep 2024 0.4% | Dec 2024 0.6% | Mar 2025 0.3% | Jun 2025 0.4% | Sep 2025 0.4% | Dec 2025 0.5% | Mar 2026 0.5% | Jun 2026 0.6%
- BBWI: Sep 2021 6.6% | Dec 2021 1.9% | Mar 2022 1.1% | Jun 2022 6.1% | Sep 2022 4.5% | Dec 2022 2.9% | Mar 2023 1.6% | Jun 2023 6.7% | Sep 2023 5.5% | Dec 2023 4.6% | Mar 2024 — | Jun 2024 3.3% | Sep 2024 3.6% | Dec 2024 4.0% | Mar 2025 2.2% | Jun 2025 2.6% | Sep 2025 3.6% | Dec 2025 5.1% | Mar 2026 2.3% | Jun 2026 3.6%
- RH: Sep 2021 3.2% | Dec 2021 7.2% | Mar 2022 3.5% | Jun 2022 3.0% | Sep 2022 3.3% | Dec 2022 5.4% | Mar 2023 8.3% | Jun 2023 4.6% | Sep 2023 5.9% | Dec 2023 6.7% | Mar 2024 19% | Jun 2024 9.1% | Sep 2024 5.9% | Dec 2024 8.0% | Mar 2025 6.3% | Jun 2025 6.5% | Sep 2025 6.3% | Dec 2025 5.5% | Mar 2026 4.9% | Jun 2026 4.9%
- ASO: Sep 2021 0.9% | Dec 2021 1.6% | Mar 2022 0.9% | Jun 2022 1.2% | Sep 2022 1.8% | Dec 2022 2.1% | Mar 2023 1.7% | Jun 2023 2.9% | Sep 2023 4.4% | Dec 2023 3.0% | Mar 2024 3.1% | Jun 2024 2.3% | Sep 2024 2.6% | Dec 2024 4.6% | Mar 2025 3.8% | Jun 2025 3.8% | Sep 2025 3.6% | Dec 2025 4.6% | Mar 2026 2.5% | Jun 2026 2.7%
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 3.0% | Mar 2025 3.0% | Jun 2025 — | Sep 2025 — | Dec 2025 3.9% | Mar 2026 5.5% | Jun 2026 —
- EYE: Sep 2021 4.0% | Dec 2021 3.9% | Mar 2022 7.7% | Jun 2022 5.3% | Sep 2022 5.5% | Dec 2022 6.0% | Mar 2023 — | Jun 2023 5.4% | Sep 2023 6.0% | Dec 2023 7.8% | Mar 2024 4.1% | Jun 2024 4.4% | Sep 2024 5.3% | Dec 2024 7.3% | Mar 2025 3.9% | Jun 2025 2.5% | Sep 2025 3.3% | Dec 2025 — | Mar 2026 4.8% | Jun 2026 3.3%
- SVV: Sep 2021 2.5% | Dec 2021 3.7% | Mar 2022 4.9% | Jun 2022 8.0% | Sep 2022 8.8% | Dec 2022 6.1% | Mar 2023 — | Jun 2023 6.1% | Sep 2023 6.9% | Dec 2023 4.4% | Mar 2024 6.2% | Jun 2024 8.0% | Sep 2024 6.8% | Dec 2024 6.5% | Mar 2025 5.7% | Jun 2025 7.9% | Sep 2025 6.6% | Dec 2025 — | Mar 2026 8.2% | Jun 2026 6.9%
- SBH: Sep 2021 2.9% | Dec 2021 2.7% | Mar 2022 2.0% | Jun 2022 2.4% | Sep 2022 3.3% | Dec 2022 2.6% | Mar 2023 1.8% | Jun 2023 2.4% | Sep 2023 2.9% | Dec 2023 3.3% | Mar 2024 1.5% | Jun 2024 2.0% | Sep 2024 4.0% | Dec 2024 2.1% | Mar 2025 2.2% | Jun 2025 2.1% | Sep 2025 4.5% | Dec 2025 3.8% | Mar 2026 3.2% | Jun 2026 —
- OLPX: Sep 2021 0.6% | Dec 2021 0.0% | Mar 2022 0.0% | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 0.8% | Mar 2023 0.0% | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 0.0% | Jun 2024 0.0% | Sep 2024 0.0% | Dec 2024 0.0% | Mar 2025 0.0% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 0.0% | Jun 2026 —
- WINA: Sep 2021 0.0% | Dec 2021 0.0% | Mar 2022 0.0% | Jun 2022 0.0% | Sep 2022 0.0% | Dec 2022 0.0% | Mar 2023 — | Jun 2023 0.0% | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 0.0% | Jun 2024 0.0% | Sep 2024 0.0% | Dec 2024 0.0% | Mar 2025 0.0% | Jun 2025 0.0% | Sep 2025 0.0% | Dec 2025 0.0% | Mar 2026 0.0% | Jun 2026 —
- ARHS: Sep 2021 7.9% | Dec 2021 7.6% | Mar 2022 4.1% | Jun 2022 3.3% | Sep 2022 5.3% | Dec 2022 4.2% | Mar 2023 3.9% | Jun 2023 7.7% | Sep 2023 7.4% | Dec 2023 10% | Mar 2024 8.8% | Jun 2024 12% | Sep 2024 8.5% | Dec 2024 5.5% | Mar 2025 9.0% | Jun 2025 3.9% | Sep 2025 5.2% | Dec 2025 4.9% | Mar 2026 5.4% | Jun 2026 —
- ARKO: Sep 2021 0.7% | Dec 2021 9.0% | Mar 2022 1.1% | Jun 2022 1.0% | Sep 2022 1.1% | Dec 2022 1.2% | Mar 2023 1.1% | Jun 2023 1.1% | Sep 2023 1.0% | Dec 2023 1.6% | Mar 2024 1.4% | Jun 2024 0.8% | Sep 2024 1.3% | Dec 2024 1.8% | Mar 2025 1.5% | Jun 2025 2.3% | Sep 2025 1.2% | Dec 2025 1.7% | Mar 2026 1.7% | Jun 2026 —
- WOOF: Sep 2021 3.7% | Dec 2021 4.4% | Mar 2022 5.0% | Jun 2022 4.5% | Sep 2022 4.7% | Dec 2022 5.1% | Mar 2023 4.2% | Jun 2023 4.0% | Sep 2023 3.4% | Dec 2023 4.2% | Mar 2024 2.9% | Jun 2024 2.2% | Sep 2024 1.8% | Dec 2024 2.1% | Mar 2025 2.4% | Jun 2025 1.9% | Sep 2025 2.1% | Dec 2025 2.0% | Mar 2026 2.4% | Jun 2026 2.5%
- HZO: Sep 2021 1.7% | Dec 2021 5.1% | Mar 2022 1.3% | Jun 2022 1.6% | Sep 2022 2.8% | Dec 2022 2.0% | Mar 2023 2.6% | Jun 2023 3.2% | Sep 2023 2.9% | Dec 2023 2.5% | Mar 2024 2.6% | Jun 2024 2.0% | Sep 2024 3.0% | Dec 2024 3.8% | Mar 2025 2.1% | Jun 2025 2.4% | Sep 2025 — | Dec 2025 1.8% | Mar 2026 2.1% | Jun 2026 —
- EVGO: Sep 2021 133% | Dec 2021 313% | Mar 2022 350% | Jun 2022 489% | Sep 2022 564% | Dec 2022 244% | Mar 2023 260% | Jun 2023 69% | Sep 2023 69% | Dec 2023 70% | Mar 2024 38% | Jun 2024 36% | Sep 2024 38% | Dec 2024 35% | Mar 2025 20% | Jun 2025 27% | Sep 2025 28% | Dec 2025 42% | Mar 2026 28% | Jun 2026 —
- BNED: Sep 2021 4.6% | Dec 2021 1.6% | Mar 2022 3.0% | Jun 2022 4.4% | Sep 2022 3.1% | Dec 2022 1.5% | Mar 2023 1.1% | Jun 2023 1.2% | Sep 2023 1.5% | Dec 2023 0.7% | Mar 2024 0.7% | Jun 2024 1.3% | Sep 2024 1.5% | Dec 2024 0.5% | Mar 2025 0.6% | Jun 2025 1.1% | Sep 2025 1.4% | Dec 2025 0.6% | Mar 2026 0.8% | Jun 2026 —
- BBW: Sep 2021 1.1% | Dec 2021 3.2% | Mar 2022 2.3% | Jun 2022 0.8% | Sep 2022 3.0% | Dec 2022 2.9% | Mar 2023 4.8% | Jun 2023 2.5% | Sep 2023 2.8% | Dec 2023 4.6% | Mar 2024 4.7% | Jun 2024 1.7% | Sep 2024 2.7% | Dec 2024 3.4% | Mar 2025 6.7% | Jun 2025 2.3% | Sep 2025 2.4% | Dec 2025 5.7% | Mar 2026 8.4% | Jun 2026 5.6%
- BBBY: Sep 2021 0.6% | Dec 2021 0.7% | Mar 2022 0.6% | Jun 2022 0.6% | Sep 2022 0.7% | Dec 2022 1.2% | Mar 2023 1.3% | Jun 2023 1.7% | Sep 2023 1.1% | Dec 2023 0.8% | Mar 2024 0.8% | Jun 2024 1.3% | Sep 2024 1.0% | Dec 2024 1.0% | Mar 2025 0.4% | Jun 2025 0.7% | Sep 2025 0.8% | Dec 2025 0.7% | Mar 2026 0.4% | Jun 2026 —
- FLWS: Sep 2021 3.6% | Dec 2021 2.2% | Mar 2022 3.2% | Jun 2022 — | Sep 2022 3.7% | Dec 2022 3.6% | Mar 2023 1.4% | Jun 2023 1.9% | Sep 2023 3.3% | Dec 2023 2.6% | Mar 2024 2.4% | Jun 2024 3.3% | Sep 2024 5.0% | Dec 2024 1.4% | Mar 2025 2.7% | Jun 2025 2.7% | Sep 2025 3.3% | Dec 2025 1.1% | Mar 2026 3.1% | Jun 2026 —
- ONEW: Sep 2021 0.7% | Dec 2021 0.9% | Mar 2022 1.1% | Jun 2022 0.7% | Sep 2022 0.0% | Dec 2022 1.6% | Mar 2023 1.1% | Jun 2023 0.8% | Sep 2023 0.9% | Dec 2023 1.4% | Mar 2024 2.0% | Jun 2024 1.3% | Sep 2024 1.1% | Dec 2024 0.8% | Mar 2025 1.0% | Jun 2025 0.4% | Sep 2025 0.7% | Dec 2025 0.5% | Mar 2026 0.5% | Jun 2026 —

## Debt Load & Balance-Sheet Headroom

What the numbers say: GameStop Corp. has the clearest covered balance-sheet capacity with $4,029 million net cash and gross debt of $4,339 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Bed Bath & Beyond, Inc. · $22 million | 64.5% versus #2 · Winmark Corporation | 8/8 recent comparable periods | 28/28 companies · 530 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Bed Bath & Beyond, Inc. (BBBY): ₹22 Cr
2. Winmark Corporation (WINA): ₹62 Cr
3. Build-A-Bear Workshop, Inc. (BBW): ₹126 Cr
4. Barnes & Noble Education, Inc. (BNED): ₹224 Cr
5. 1-800-FLOWERS.COM, Inc. (FLWS): ₹252 Cr

### Net debt — lowest net debt
1. GameStop Corp. (GME): ₹-4.0K Cr
2. Bed Bath & Beyond, Inc. (BBBY): ₹-141 Cr
3. Olaplex Holdings, Inc. (OLPX): ₹26 Cr
4. Winmark Corporation (WINA): ₹36 Cr
5. Build-A-Bear Workshop, Inc. (BBW): ₹100 Cr

### 20-quarter Gross debt history
- CASY: Sep 2021 ₹1.7K Cr | Dec 2021 ₹1.7K Cr | Mar 2022 ₹1.9K Cr | Jun 2022 ₹1.7K Cr | Sep 2022 ₹1.7K Cr | Dec 2022 ₹1.7K Cr | Mar 2023 ₹1.7K Cr | Jun 2023 ₹1.7K Cr | Sep 2023 ₹1.7K Cr | Dec 2023 ₹1.7K Cr | Mar 2024 ₹1.6K Cr | Jun 2024 ₹1.8K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹2.7K Cr | Mar 2025 ₹3.1K Cr | Jun 2025 ₹3.0K Cr | Sep 2025 ₹2.9K Cr | Dec 2025 ₹2.9K Cr | Mar 2026 ₹2.9K Cr | Jun 2026 ₹2.9K Cr
- WSM: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.4K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.4K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 ₹1.5K Cr
- ULTA: Sep 2021 ₹1.9K Cr | Dec 2021 ₹1.8K Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹1.9K Cr | Jun 2023 ₹1.9K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹2.1K Cr | Mar 2024 ₹1.9K Cr | Jun 2024 ₹1.9K Cr | Sep 2024 ₹1.9K Cr | Dec 2024 ₹2.1K Cr | Mar 2025 ₹1.9K Cr | Jun 2025 ₹2.0K Cr | Sep 2025 ₹2.3K Cr | Dec 2025 ₹2.6K Cr | Mar 2026 ₹2.2K Cr | Jun 2026 ₹2.3K Cr
- DKS: Sep 2021 ₹3.1K Cr | Dec 2021 ₹3.1K Cr | Mar 2022 ₹4.7K Cr | Jun 2022 ₹4.5K Cr | Sep 2022 ₹4.4K Cr | Dec 2022 ₹4.1K Cr | Mar 2023 ₹4.2K Cr | Jun 2023 ₹4.2K Cr | Sep 2023 ₹4.3K Cr | Dec 2023 ₹4.2K Cr | Mar 2024 ₹4.3K Cr | Jun 2024 ₹4.5K Cr | Sep 2024 ₹4.4K Cr | Dec 2024 ₹4.5K Cr | Mar 2025 ₹4.5K Cr | Jun 2025 ₹4.6K Cr | Sep 2025 ₹4.6K Cr | Dec 2025 ₹7.7K Cr | Mar 2026 ₹7.7K Cr | Jun 2026 ₹7.8K Cr
- BBY: Sep 2021 ₹4.1K Cr | Dec 2021 ₹4.0K Cr | Mar 2022 ₹3.3K Cr | Jun 2022 ₹3.9K Cr | Sep 2022 ₹4.0K Cr | Dec 2022 ₹4.0K Cr | Mar 2023 ₹4.0K Cr | Jun 2023 ₹3.9K Cr | Sep 2023 ₹4.0K Cr | Dec 2023 ₹4.0K Cr | Mar 2024 ₹4.0K Cr | Jun 2024 ₹4.0K Cr | Sep 2024 ₹2.9K Cr | Dec 2024 ₹4.1K Cr | Mar 2025 ₹4.1K Cr | Jun 2025 ₹4.1K Cr | Sep 2025 ₹2.9K Cr | Dec 2025 ₹4.1K Cr | Mar 2026 ₹4.1K Cr | Jun 2026 ₹4.1K Cr
- TSCO: Sep 2021 ₹3.9K Cr | Dec 2021 ₹3.9K Cr | Mar 2022 ₹3.9K Cr | Jun 2022 ₹2.9K Cr | Sep 2022 ₹4.1K Cr | Dec 2022 ₹4.3K Cr | Mar 2023 — | Jun 2023 ₹4.7K Cr | Sep 2023 ₹4.8K Cr | Dec 2023 ₹5.0K Cr | Mar 2024 ₹5.1K Cr | Jun 2024 ₹5.1K Cr | Sep 2024 ₹5.3K Cr | Dec 2024 ₹5.4K Cr | Mar 2025 ₹5.8K Cr | Jun 2025 ₹5.6K Cr | Sep 2025 ₹5.7K Cr | Dec 2025 ₹5.9K Cr | Mar 2026 ₹6.4K Cr | Jun 2026 ₹6.5K Cr
- FIVE: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹1.5K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.7K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.8K Cr | Sep 2024 ₹1.9K Cr | Dec 2024 ₹2.0K Cr | Mar 2025 ₹2.0K Cr | Jun 2025 ₹2.0K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹2.0K Cr | Mar 2026 ₹2.0K Cr | Jun 2026 ₹2.0K Cr
- MUSA: Sep 2021 ₹2.2K Cr | Dec 2021 ₹2.2K Cr | Mar 2022 ₹2.2K Cr | Jun 2022 ₹2.2K Cr | Sep 2022 ₹2.3K Cr | Dec 2022 ₹2.3K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹2.2K Cr | Sep 2023 ₹2.3K Cr | Dec 2023 ₹2.3K Cr | Mar 2024 ₹2.3K Cr | Jun 2024 ₹2.3K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹2.5K Cr | Jun 2025 ₹2.6K Cr | Sep 2025 ₹2.8K Cr | Dec 2025 ₹2.7K Cr | Mar 2026 ₹2.7K Cr | Jun 2026 —
- GME: Sep 2021 ₹701 Cr | Dec 2021 ₹668 Cr | Mar 2022 ₹649 Cr | Jun 2022 ₹617 Cr | Sep 2022 ₹602 Cr | Dec 2022 ₹575 Cr | Mar 2023 ₹617 Cr | Jun 2023 ₹651 Cr | Sep 2023 ₹635 Cr | Dec 2023 ₹614 Cr | Mar 2024 ₹603 Cr | Jun 2024 ₹589 Cr | Sep 2024 ₹534 Cr | Dec 2024 ₹464 Cr | Mar 2025 ₹411 Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹4.4K Cr | Dec 2025 ₹4.4K Cr | Mar 2026 ₹4.4K Cr | Jun 2026 ₹4.3K Cr
- BBWI: Sep 2021 ₹6.5K Cr | Dec 2021 ₹6.0K Cr | Mar 2022 ₹6.0K Cr | Jun 2022 ₹6.0K Cr | Sep 2022 ₹6.1K Cr | Dec 2022 ₹6.1K Cr | Mar 2023 ₹6.1K Cr | Jun 2023 ₹6.0K Cr | Sep 2023 ₹5.9K Cr | Dec 2023 ₹5.7K Cr | Mar 2024 ₹5.6K Cr | Jun 2024 ₹5.5K Cr | Sep 2024 ₹5.4K Cr | Dec 2024 ₹5.4K Cr | Mar 2025 ₹5.0K Cr | Jun 2025 ₹5.0K Cr | Sep 2025 ₹5.0K Cr | Dec 2025 ₹5.0K Cr | Mar 2026 ₹5.0K Cr | Jun 2026 ₹4.7K Cr
- RH: Sep 2021 ₹1.7K Cr | Dec 2021 ₹3.5K Cr | Mar 2022 ₹3.4K Cr | Jun 2022 ₹3.3K Cr | Sep 2022 ₹3.7K Cr | Dec 2022 ₹3.7K Cr | Mar 2023 ₹3.7K Cr | Jun 2023 ₹3.7K Cr | Sep 2023 ₹3.7K Cr | Dec 2023 ₹3.8K Cr | Mar 2024 ₹3.7K Cr | Jun 2024 ₹3.7K Cr | Sep 2024 ₹3.7K Cr | Dec 2024 ₹3.8K Cr | Mar 2025 ₹3.9K Cr | Jun 2025 ₹3.9K Cr | Sep 2025 ₹3.9K Cr | Dec 2025 ₹3.9K Cr | Mar 2026 ₹3.9K Cr | Jun 2026 ₹4.0K Cr
- ASO: Sep 2021 ₹1.9K Cr | Dec 2021 ₹1.9K Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹1.9K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹1.8K Cr | Jun 2023 ₹1.8K Cr | Sep 2023 ₹1.8K Cr | Dec 2023 ₹1.8K Cr | Mar 2024 ₹1.7K Cr | Jun 2024 ₹1.7K Cr | Sep 2024 ₹1.7K Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹1.8K Cr | Jun 2025 ₹1.8K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.9K Cr | Mar 2026 ₹1.9K Cr | Jun 2026 ₹2.0K Cr
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 ₹713 Cr | Dec 2023 ₹713 Cr | Mar 2024 — | Jun 2024 — | Sep 2024 ₹691 Cr | Dec 2024 ₹691 Cr | Mar 2025 — | Jun 2025 — | Sep 2025 ₹825 Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹885 Cr | Jun 2026 —
- EYE: Sep 2021 ₹1.0K Cr | Dec 2021 ₹1.0K Cr | Mar 2022 ₹973 Cr | Jun 2022 ₹981 Cr | Sep 2022 ₹992 Cr | Dec 2022 ₹999 Cr | Mar 2023 — | Jun 2023 ₹1.0K Cr | Sep 2023 ₹1.0K Cr | Dec 2023 ₹923 Cr | Mar 2024 ₹925 Cr | Jun 2024 ₹926 Cr | Sep 2024 ₹831 Cr | Dec 2024 ₹816 Cr | Mar 2025 ₹805 Cr | Jun 2025 ₹719 Cr | Sep 2025 ₹694 Cr | Dec 2025 — | Mar 2026 ₹695 Cr | Jun 2026 ₹692 Cr
- SVV: Sep 2021 — | Dec 2021 ₹579 Cr | Mar 2022 ₹799 Cr | Jun 2022 ₹1.3K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.2K Cr | Mar 2023 — | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.3K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 — | Mar 2026 ₹1.4K Cr | Jun 2026 ₹1.4K Cr
- SBH: Sep 2021 ₹1.9K Cr | Dec 2021 ₹1.9K Cr | Mar 2022 ₹1.9K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.7K Cr | Dec 2022 ₹1.7K Cr | Mar 2023 ₹1.7K Cr | Jun 2023 ₹1.7K Cr | Sep 2023 ₹1.7K Cr | Dec 2023 ₹1.7K Cr | Mar 2024 ₹1.6K Cr | Jun 2024 ₹1.6K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.6K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 —
- OLPX: Sep 2021 ₹762 Cr | Dec 2021 ₹758 Cr | Mar 2022 ₹665 Cr | Jun 2022 ₹664 Cr | Sep 2022 ₹662 Cr | Dec 2022 ₹663 Cr | Mar 2023 ₹660 Cr | Jun 2023 ₹658 Cr | Sep 2023 ₹657 Cr | Dec 2023 ₹656 Cr | Mar 2024 ₹654 Cr | Jun 2024 ₹653 Cr | Sep 2024 ₹652 Cr | Dec 2024 ₹650 Cr | Mar 2025 ₹649 Cr | Jun 2025 ₹352 Cr | Sep 2025 ₹352 Cr | Dec 2025 ₹352 Cr | Mar 2026 ₹352 Cr | Jun 2026 —
- WINA: Sep 2021 ₹54 Cr | Dec 2021 ₹52 Cr | Mar 2022 ₹65 Cr | Jun 2022 ₹80 Cr | Sep 2022 ₹79 Cr | Dec 2022 ₹78 Cr | Mar 2023 — | Jun 2023 ₹76 Cr | Sep 2023 ₹75 Cr | Dec 2023 ₹73 Cr | Mar 2024 ₹72 Cr | Jun 2024 ₹70 Cr | Sep 2024 ₹69 Cr | Dec 2024 ₹63 Cr | Mar 2025 ₹63 Cr | Jun 2025 ₹63 Cr | Sep 2025 ₹63 Cr | Dec 2025 ₹62 Cr | Mar 2026 ₹62 Cr | Jun 2026 ₹62 Cr
- ARHS: Sep 2021 ₹51 Cr | Dec 2021 ₹51 Cr | Mar 2022 ₹316 Cr | Jun 2022 ₹358 Cr | Sep 2022 ₹355 Cr | Dec 2022 ₹388 Cr | Mar 2023 ₹408 Cr | Jun 2023 ₹449 Cr | Sep 2023 ₹452 Cr | Dec 2023 ₹450 Cr | Mar 2024 ₹481 Cr | Jun 2024 ₹522 Cr | Sep 2024 ₹522 Cr | Dec 2024 ₹499 Cr | Mar 2025 ₹525 Cr | Jun 2025 ₹550 Cr | Sep 2025 ₹572 Cr | Dec 2025 ₹581 Cr | Mar 2026 ₹600 Cr | Jun 2026 —
- ARKO: Sep 2021 ₹2.0K Cr | Dec 2021 ₹2.1K Cr | Mar 2022 ₹2.1K Cr | Jun 2022 ₹2.1K Cr | Sep 2022 ₹2.2K Cr | Dec 2022 ₹2.3K Cr | Mar 2023 ₹2.5K Cr | Jun 2023 ₹2.5K Cr | Sep 2023 ₹2.5K Cr | Dec 2023 ₹2.5K Cr | Mar 2024 ₹2.6K Cr | Jun 2024 ₹2.6K Cr | Sep 2024 ₹2.6K Cr | Dec 2024 ₹2.6K Cr | Mar 2025 ₹2.6K Cr | Jun 2025 ₹2.6K Cr | Sep 2025 ₹2.6K Cr | Dec 2025 ₹2.6K Cr | Mar 2026 ₹2.4K Cr | Jun 2026 —
- WOOF: Sep 2021 ₹3.0K Cr | Dec 2021 ₹3.0K Cr | Mar 2022 ₹3.0K Cr | Jun 2022 ₹3.0K Cr | Sep 2022 ₹3.1K Cr | Dec 2022 ₹3.1K Cr | Mar 2023 ₹3.1K Cr | Jun 2023 ₹3.0K Cr | Sep 2023 ₹3.0K Cr | Dec 2023 ₹3.0K Cr | Mar 2024 ₹3.0K Cr | Jun 2024 ₹3.0K Cr | Sep 2024 ₹3.0K Cr | Dec 2024 ₹3.0K Cr | Mar 2025 ₹2.9K Cr | Jun 2025 ₹2.9K Cr | Sep 2025 ₹2.9K Cr | Dec 2025 ₹3.0K Cr | Mar 2026 ₹2.9K Cr | Jun 2026 ₹2.8K Cr
- HZO: Sep 2021 ₹183 Cr | Dec 2021 ₹268 Cr | Mar 2022 ₹212 Cr | Jun 2022 ₹259 Cr | Sep 2022 ₹280 Cr | Dec 2022 ₹920 Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.2K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 ₹1.1K Cr
- EVGO: Sep 2021 ₹0 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹23 Cr | Jun 2022 ₹33 Cr | Sep 2022 ₹43 Cr | Dec 2022 ₹51 Cr | Mar 2023 ₹54 Cr | Jun 2023 ₹53 Cr | Sep 2023 ₹56 Cr | Dec 2023 ₹68 Cr | Mar 2024 ₹76 Cr | Jun 2024 ₹80 Cr | Sep 2024 ₹86 Cr | Dec 2024 ₹90 Cr | Mar 2025 ₹169 Cr | Jun 2025 ₹191 Cr | Sep 2025 ₹262 Cr | Dec 2025 ₹311 Cr | Mar 2026 ₹322 Cr | Jun 2026 —
- BNED: Sep 2021 ₹519 Cr | Dec 2021 ₹473 Cr | Mar 2022 ₹470 Cr | Jun 2022 ₹542 Cr | Sep 2022 ₹606 Cr | Dec 2022 ₹572 Cr | Mar 2023 ₹588 Cr | Jun 2023 ₹467 Cr | Sep 2023 ₹600 Cr | Dec 2023 ₹520 Cr | Mar 2024 ₹535 Cr | Jun 2024 ₹414 Cr | Sep 2024 ₹502 Cr | Dec 2024 ₹432 Cr | Mar 2025 ₹364 Cr | Jun 2025 ₹283 Cr | Sep 2025 ₹367 Cr | Dec 2025 ₹312 Cr | Mar 2026 ₹316 Cr | Jun 2026 ₹224 Cr
- BBW: Sep 2021 ₹118 Cr | Dec 2021 ₹110 Cr | Mar 2022 ₹99 Cr | Jun 2022 ₹90 Cr | Sep 2022 ₹94 Cr | Dec 2022 ₹92 Cr | Mar 2023 ₹87 Cr | Jun 2023 ₹87 Cr | Sep 2023 ₹83 Cr | Dec 2023 ₹78 Cr | Mar 2024 ₹84 Cr | Jun 2024 ₹81 Cr | Sep 2024 ₹102 Cr | Dec 2024 ₹98 Cr | Mar 2025 ₹97 Cr | Jun 2025 ₹99 Cr | Sep 2025 ₹107 Cr | Dec 2025 ₹118 Cr | Mar 2026 ₹127 Cr | Jun 2026 ₹126 Cr
- BBBY: Sep 2021 ₹53 Cr | Dec 2021 ₹13 Cr | Mar 2022 ₹49 Cr | Jun 2022 ₹47 Cr | Sep 2022 ₹45 Cr | Dec 2022 ₹8 Cr | Mar 2023 ₹41 Cr | Jun 2023 ₹40 Cr | Sep 2023 ₹39 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹33 Cr | Mar 2025 ₹32 Cr | Jun 2025 ₹25 Cr | Sep 2025 ₹25 Cr | Dec 2025 ₹22 Cr | Mar 2026 ₹22 Cr | Jun 2026 —
- FLWS: Sep 2021 ₹301 Cr | Dec 2021 ₹313 Cr | Mar 2022 ₹306 Cr | Jun 2022 — | Sep 2022 ₹299 Cr | Dec 2022 ₹442 Cr | Mar 2023 ₹293 Cr | Jun 2023 ₹285 Cr | Sep 2023 ₹329 Cr | Dec 2023 ₹358 Cr | Mar 2024 ₹313 Cr | Jun 2024 ₹309 Cr | Sep 2024 ₹351 Cr | Dec 2024 ₹278 Cr | Mar 2025 ₹279 Cr | Jun 2025 ₹271 Cr | Sep 2025 ₹375 Cr | Dec 2025 ₹258 Cr | Mar 2026 ₹252 Cr | Jun 2026 —
- ONEW: Sep 2021 ₹318 Cr | Dec 2021 ₹661 Cr | Mar 2022 ₹714 Cr | Jun 2022 ₹680 Cr | Sep 2022 ₹835 Cr | Dec 2022 ₹1.0K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.0K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹593 Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹990 Cr | Sep 2025 ₹964 Cr | Dec 2025 ₹128 Cr | Mar 2026 ₹952 Cr | Jun 2026 —

### 20-quarter Net debt history
- CASY: Sep 2021 ₹1.5K Cr | Dec 2021 ₹1.4K Cr | Mar 2022 ₹1.7K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.3K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.2K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹2.4K Cr | Mar 2025 ₹2.7K Cr | Jun 2025 ₹2.6K Cr | Sep 2025 ₹2.4K Cr | Dec 2025 ₹2.4K Cr | Mar 2026 ₹2.4K Cr | Jun 2026 ₹2.4K Cr
- WSM: Sep 2021 ₹571 Cr | Dec 2021 ₹674 Cr | Mar 2022 ₹451 Cr | Jun 2022 ₹925 Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹876 Cr | Dec 2023 ₹696 Cr | Mar 2024 ₹129 Cr | Jun 2024 ₹87 Cr | Sep 2024 ₹49 Cr | Dec 2024 ₹488 Cr | Mar 2025 ₹134 Cr | Jun 2025 ₹322 Cr | Sep 2025 ₹408 Cr | Dec 2025 ₹581 Cr | Mar 2026 ₹437 Cr | Jun 2026 ₹842 Cr
- ULTA: Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹1.3K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹2.0K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.4K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹2.0K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹2.4K Cr | Mar 2026 ₹1.7K Cr | Jun 2026 ₹2.1K Cr
- DKS: Sep 2021 ₹839 Cr | Dec 2021 ₹1.7K Cr | Mar 2022 ₹2.1K Cr | Jun 2022 ₹2.3K Cr | Sep 2022 ₹2.5K Cr | Dec 2022 ₹2.7K Cr | Mar 2023 ₹2.3K Cr | Jun 2023 ₹2.6K Cr | Sep 2023 ₹2.4K Cr | Dec 2023 ₹2.8K Cr | Mar 2024 ₹2.5K Cr | Jun 2024 ₹2.8K Cr | Sep 2024 ₹2.7K Cr | Dec 2024 ₹3.0K Cr | Mar 2025 ₹2.8K Cr | Jun 2025 ₹3.5K Cr | Sep 2025 ₹3.4K Cr | Dec 2025 ₹6.9K Cr | Mar 2026 ₹6.4K Cr | Jun 2026 ₹6.8K Cr
- BBY: Sep 2021 ₹-240 Cr | Dec 2021 ₹520 Cr | Mar 2022 ₹319 Cr | Jun 2022 ₹3.3K Cr | Sep 2022 ₹3.2K Cr | Dec 2022 ₹3.1K Cr | Mar 2023 ₹2.1K Cr | Jun 2023 ₹2.9K Cr | Sep 2023 ₹2.9K Cr | Dec 2023 ₹3.4K Cr | Mar 2024 ₹2.5K Cr | Jun 2024 ₹2.8K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹3.4K Cr | Mar 2025 ₹2.5K Cr | Jun 2025 ₹2.9K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹3.2K Cr | Mar 2026 ₹2.4K Cr | Jun 2026 ₹2.4K Cr
- TSCO: Sep 2021 ₹2.8K Cr | Dec 2021 ₹3.0K Cr | Mar 2022 ₹3.5K Cr | Jun 2022 ₹2.4K Cr | Sep 2022 ₹3.8K Cr | Dec 2022 ₹4.1K Cr | Mar 2023 — | Jun 2023 ₹4.5K Cr | Sep 2023 ₹4.2K Cr | Dec 2023 ₹4.6K Cr | Mar 2024 ₹4.8K Cr | Jun 2024 ₹4.7K Cr | Sep 2024 ₹5.1K Cr | Dec 2024 ₹5.2K Cr | Mar 2025 ₹5.5K Cr | Jun 2025 ₹5.3K Cr | Sep 2025 ₹5.5K Cr | Dec 2025 ₹5.7K Cr | Mar 2026 ₹6.2K Cr | Jun 2026 ₹6.3K Cr
- FIVE: Sep 2021 ₹819 Cr | Dec 2021 ₹989 Cr | Mar 2022 ₹957 Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹1.4K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.6K Cr | Dec 2024 ₹1.8K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.5K Cr | Mar 2026 ₹1.1K Cr | Jun 2026 ₹886 Cr
- MUSA: Sep 2021 ₹1.9K Cr | Dec 2021 ₹2.0K Cr | Mar 2022 ₹1.9K Cr | Jun 2022 ₹2.0K Cr | Sep 2022 ₹2.1K Cr | Dec 2022 ₹2.2K Cr | Mar 2023 ₹2.1K Cr | Jun 2023 ₹2.1K Cr | Sep 2023 ₹2.1K Cr | Dec 2023 ₹2.1K Cr | Mar 2024 ₹2.2K Cr | Jun 2024 ₹2.2K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹2.4K Cr | Jun 2025 ₹2.5K Cr | Sep 2025 ₹2.7K Cr | Dec 2025 ₹2.7K Cr | Mar 2026 ₹2.6K Cr | Jun 2026 —
- GME: Sep 2021 ₹-1.0K Cr | Dec 2021 ₹-745 Cr | Mar 2022 ₹-622 Cr | Jun 2022 ₹-418 Cr | Sep 2022 ₹-307 Cr | Dec 2022 ₹-467 Cr | Mar 2023 ₹-774 Cr | Jun 2023 ₹-659 Cr | Sep 2023 ₹-560 Cr | Dec 2023 ₹-596 Cr | Mar 2024 ₹-596 Cr | Jun 2024 ₹-494 Cr | Sep 2024 ₹-3.7K Cr | Dec 2024 ₹-4.2K Cr | Mar 2025 ₹-4.4K Cr | Jun 2025 ₹-4.6K Cr | Sep 2025 ₹-4.3K Cr | Dec 2025 ₹-4.4K Cr | Mar 2026 ₹-4.7K Cr | Jun 2026 ₹-4.0K Cr
- BBWI: Sep 2021 ₹4.8K Cr | Dec 2021 ₹4.5K Cr | Mar 2022 ₹4.0K Cr | Jun 2022 ₹5.4K Cr | Sep 2022 ₹5.6K Cr | Dec 2022 ₹5.8K Cr | Mar 2023 ₹4.8K Cr | Jun 2023 ₹4.9K Cr | Sep 2023 ₹5.1K Cr | Dec 2023 ₹5.3K Cr | Mar 2024 ₹4.5K Cr | Jun 2024 ₹4.6K Cr | Sep 2024 ₹4.9K Cr | Dec 2024 ₹5.2K Cr | Mar 2025 ₹4.3K Cr | Jun 2025 ₹4.3K Cr | Sep 2025 ₹4.6K Cr | Dec 2025 ₹4.7K Cr | Mar 2026 ₹4.0K Cr | Jun 2026 ₹3.9K Cr
- RH: Sep 2021 ₹1.4K Cr | Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.0K Cr | Sep 2022 ₹1.6K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹2.2K Cr | Sep 2023 ₹3.3K Cr | Dec 2023 ₹3.4K Cr | Mar 2024 ₹3.6K Cr | Jun 2024 ₹3.6K Cr | Sep 2024 ₹3.6K Cr | Dec 2024 ₹3.7K Cr | Mar 2025 ₹3.9K Cr | Jun 2025 ₹3.9K Cr | Sep 2025 ₹3.8K Cr | Dec 2025 ₹3.9K Cr | Mar 2026 ₹3.9K Cr | Jun 2026 ₹3.9K Cr
- ASO: Sep 2021 ₹1.3K Cr | Dec 2021 ₹1.5K Cr | Mar 2022 ₹1.4K Cr | Jun 2022 ₹1.4K Cr | Sep 2022 ₹1.5K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 ₹1.4K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.5K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.3K Cr | Jun 2024 ₹1.3K Cr | Sep 2024 ₹1.4K Cr | Dec 2024 ₹1.5K Cr | Mar 2025 ₹1.5K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹1.5K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹1.6K Cr | Jun 2026 ₹1.6K Cr
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 ₹610 Cr | Dec 2023 ₹610 Cr | Mar 2024 — | Jun 2024 — | Sep 2024 ₹610 Cr | Dec 2024 ₹610 Cr | Mar 2025 — | Jun 2025 — | Sep 2025 ₹702 Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹857 Cr | Jun 2026 —
- EYE: Sep 2021 ₹603 Cr | Dec 2021 ₹572 Cr | Mar 2022 ₹667 Cr | Jun 2022 ₹666 Cr | Sep 2022 ₹738 Cr | Dec 2022 ₹743 Cr | Mar 2023 — | Jun 2023 ₹764 Cr | Sep 2023 ₹763 Cr | Dec 2023 ₹773 Cr | Mar 2024 ₹775 Cr | Jun 2024 ₹746 Cr | Sep 2024 ₹750 Cr | Dec 2024 ₹742 Cr | Mar 2025 ₹725 Cr | Jun 2025 ₹671 Cr | Sep 2025 ₹638 Cr | Dec 2025 — | Mar 2026 ₹656 Cr | Jun 2026 ₹624 Cr
- SVV: Sep 2021 — | Dec 2021 ₹419 Cr | Mar 2022 ₹701 Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.1K Cr | Dec 2022 ₹1.1K Cr | Mar 2023 — | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.4K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.2K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹1.3K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 — | Mar 2026 ₹1.3K Cr | Jun 2026 ₹1.3K Cr
- SBH: Sep 2021 ₹1.5K Cr | Dec 2021 ₹1.6K Cr | Mar 2022 ₹1.7K Cr | Jun 2022 ₹1.7K Cr | Sep 2022 ₹1.7K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 ₹1.6K Cr | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹1.5K Cr | Mar 2024 ₹1.5K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.5K Cr | Dec 2024 ₹1.4K Cr | Mar 2025 ₹1.4K Cr | Jun 2025 ₹1.4K Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.4K Cr | Jun 2026 —
- OLPX: Sep 2021 ₹641 Cr | Dec 2021 ₹572 Cr | Mar 2022 ₹522 Cr | Jun 2022 ₹466 Cr | Sep 2022 ₹413 Cr | Dec 2022 ₹340 Cr | Mar 2023 ₹291 Cr | Jun 2023 ₹280 Cr | Sep 2023 ₹227 Cr | Dec 2023 ₹190 Cr | Mar 2024 ₹146 Cr | Jun 2024 ₹145 Cr | Sep 2024 ₹113 Cr | Dec 2024 ₹64 Cr | Mar 2025 ₹68 Cr | Jun 2025 ₹63 Cr | Sep 2025 ₹66 Cr | Dec 2025 ₹33 Cr | Mar 2026 ₹26 Cr | Jun 2026 —
- WINA: Sep 2021 ₹16 Cr | Dec 2021 ₹41 Cr | Mar 2022 ₹65 Cr | Jun 2022 ₹71 Cr | Sep 2022 ₹62 Cr | Dec 2022 ₹64 Cr | Mar 2023 — | Jun 2023 ₹51 Cr | Sep 2023 ₹43 Cr | Dec 2023 ₹60 Cr | Mar 2024 ₹49 Cr | Jun 2024 ₹41 Cr | Sep 2024 ₹32 Cr | Dec 2024 ₹51 Cr | Mar 2025 ₹41 Cr | Jun 2025 ₹34 Cr | Sep 2025 ₹23 Cr | Dec 2025 ₹52 Cr | Mar 2026 ₹42 Cr | Jun 2026 ₹36 Cr
- ARHS: Sep 2021 ₹-98 Cr | Dec 2021 ₹-73 Cr | Mar 2022 ₹167 Cr | Jun 2022 ₹213 Cr | Sep 2022 ₹209 Cr | Dec 2022 ₹243 Cr | Mar 2023 ₹263 Cr | Jun 2023 ₹272 Cr | Sep 2023 ₹215 Cr | Dec 2023 ₹227 Cr | Mar 2024 ₹248 Cr | Jun 2024 ₹348 Cr | Sep 2024 ₹344 Cr | Dec 2024 ₹301 Cr | Mar 2025 ₹311 Cr | Jun 2025 ₹315 Cr | Sep 2025 ₹310 Cr | Dec 2025 ₹328 Cr | Mar 2026 ₹423 Cr | Jun 2026 —
- ARKO: Sep 2021 ₹1.7K Cr | Dec 2021 ₹1.8K Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.9K Cr | Dec 2022 ₹2.0K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹2.3K Cr | Sep 2023 ₹2.3K Cr | Dec 2023 ₹2.3K Cr | Mar 2024 ₹2.4K Cr | Jun 2024 ₹2.4K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹2.3K Cr | Jun 2025 ₹2.3K Cr | Sep 2025 ₹2.3K Cr | Dec 2025 ₹2.3K Cr | Mar 2026 ₹2.1K Cr | Jun 2026 —
- WOOF: Sep 2021 ₹2.8K Cr | Dec 2021 ₹2.8K Cr | Mar 2022 ₹2.8K Cr | Jun 2022 ₹2.8K Cr | Sep 2022 ₹2.9K Cr | Dec 2022 ₹2.9K Cr | Mar 2023 ₹2.9K Cr | Jun 2023 ₹2.9K Cr | Sep 2023 ₹2.9K Cr | Dec 2023 ₹2.9K Cr | Mar 2024 ₹2.9K Cr | Jun 2024 ₹2.9K Cr | Sep 2024 ₹2.9K Cr | Dec 2024 ₹2.9K Cr | Mar 2025 ₹2.8K Cr | Jun 2025 ₹2.8K Cr | Sep 2025 ₹2.8K Cr | Dec 2025 ₹2.7K Cr | Mar 2026 ₹2.6K Cr | Jun 2026 ₹2.6K Cr
- HZO: Sep 2021 ₹-39 Cr | Dec 2021 ₹52 Cr | Mar 2022 ₹-7 Cr | Jun 2022 ₹-22 Cr | Sep 2022 ₹52 Cr | Dec 2022 ₹742 Cr | Mar 2023 ₹866 Cr | Jun 2023 ₹849 Cr | Sep 2023 ₹893 Cr | Dec 2023 ₹1.0K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹993 Cr | Sep 2024 ₹1.0K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.0K Cr | Jun 2026 ₹935 Cr
- EVGO: Sep 2021 ₹-521 Cr | Dec 2021 ₹-485 Cr | Mar 2022 ₹-418 Cr | Jun 2022 ₹-339 Cr | Sep 2022 ₹-258 Cr | Dec 2022 ₹-195 Cr | Mar 2023 ₹-110 Cr | Jun 2023 ₹-204 Cr | Sep 2023 ₹-173 Cr | Dec 2023 ₹-141 Cr | Mar 2024 ₹-100 Cr | Jun 2024 ₹-83 Cr | Sep 2024 ₹-67 Cr | Dec 2024 ₹-31 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹69 Cr | Dec 2025 ₹110 Cr | Mar 2026 ₹184 Cr | Jun 2026 —
- BNED: Sep 2021 ₹511 Cr | Dec 2021 ₹462 Cr | Mar 2022 ₹460 Cr | Jun 2022 ₹533 Cr | Sep 2022 ₹598 Cr | Dec 2022 ₹555 Cr | Mar 2023 ₹579 Cr | Jun 2023 ₹453 Cr | Sep 2023 ₹592 Cr | Dec 2023 ₹505 Cr | Mar 2024 ₹527 Cr | Jun 2024 ₹404 Cr | Sep 2024 ₹494 Cr | Dec 2024 ₹420 Cr | Mar 2025 ₹355 Cr | Jun 2025 ₹274 Cr | Sep 2025 ₹360 Cr | Dec 2025 ₹300 Cr | Mar 2026 ₹306 Cr | Jun 2026 ₹216 Cr
- BBW: Sep 2021 ₹67 Cr | Dec 2021 ₹61 Cr | Mar 2022 ₹66 Cr | Jun 2022 ₹64 Cr | Sep 2022 ₹80 Cr | Dec 2022 ₹80 Cr | Mar 2023 ₹45 Cr | Jun 2023 ₹54 Cr | Sep 2023 ₹50 Cr | Dec 2023 ₹53 Cr | Mar 2024 ₹40 Cr | Jun 2024 ₹43 Cr | Sep 2024 ₹77 Cr | Dec 2024 ₹69 Cr | Mar 2025 ₹69 Cr | Jun 2025 ₹55 Cr | Sep 2025 ₹68 Cr | Dec 2025 ₹90 Cr | Mar 2026 ₹100 Cr | Jun 2026 ₹100 Cr
- BBBY: Sep 2021 ₹-459 Cr | Dec 2021 ₹-1 Cr | Mar 2022 ₹-444 Cr | Jun 2022 ₹-396 Cr | Sep 2022 ₹-383 Cr | Dec 2022 ₹-59 Cr | Mar 2023 ₹-334 Cr | Jun 2023 ₹-303 Cr | Sep 2023 ₹-286 Cr | Dec 2023 ₹-299 Cr | Mar 2024 ₹-253 Cr | Jun 2024 ₹-183 Cr | Sep 2024 ₹-139 Cr | Dec 2024 ₹-153 Cr | Mar 2025 ₹-109 Cr | Jun 2025 ₹-123 Cr | Sep 2025 ₹-169 Cr | Dec 2025 ₹-180 Cr | Mar 2026 ₹-141 Cr | Jun 2026 —
- FLWS: Sep 2021 ₹297 Cr | Dec 2021 ₹42 Cr | Mar 2022 ₹213 Cr | Jun 2022 — | Sep 2022 ₹268 Cr | Dec 2022 ₹433 Cr | Mar 2023 ₹103 Cr | Jun 2023 ₹233 Cr | Sep 2023 ₹202 Cr | Dec 2023 ₹350 Cr | Mar 2024 ₹129 Cr | Jun 2024 ₹150 Cr | Sep 2024 ₹343 Cr | Dec 2024 ₹31 Cr | Mar 2025 ₹194 Cr | Jun 2025 ₹224 Cr | Sep 2025 ₹367 Cr | Dec 2025 ₹65 Cr | Mar 2026 ₹201 Cr | Jun 2026 —
- ONEW: Sep 2021 ₹244 Cr | Dec 2021 ₹586 Cr | Mar 2022 ₹625 Cr | Jun 2022 ₹568 Cr | Sep 2022 ₹774 Cr | Dec 2022 ₹959 Cr | Mar 2023 ₹1.0K Cr | Jun 2023 ₹979 Cr | Sep 2023 ₹992 Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.0K Cr | Sep 2024 ₹583 Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹999 Cr | Jun 2025 ₹908 Cr | Sep 2025 ₹951 Cr | Dec 2025 — | Mar 2026 ₹944 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: Winmark Corporation leads ROCE at 38.3%, 28.4 percentage points above Build-A-Bear Workshop, Inc.. 1-800-FLOWERS.COM, Inc. has the strongest latest improvement at +9.1 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Winmark Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Winmark Corporation · 38.3% | 286.9% versus #2 · Build-A-Bear Workshop, Inc. | 3/8 recent comparable periods | 28/28 companies · 517 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Winmark Corporation (WINA): 38%
2. Build-A-Bear Workshop, Inc. (BBW): 9.9%
3. Williams-Sonoma, Inc. (WSM): 8.7%
4. Bath & Body Works, Inc. (BBWI): 6.4%
5. Tractor Supply Company (TSCO): 5.6%

### ROCE change — fastest improvers
1. 1-800-FLOWERS.COM, Inc. (FLWS): +9.1 pp
2. MarineMax, Inc. (HZO): +5.2 pp
3. Murphy USA Inc. (MUSA): +3.0 pp
4. Five Below, Inc. (FIVE): +2.5 pp
5. Best Buy Co., Inc. (BBY): +2.2 pp

### 20-quarter ROCE history
- CASY: Sep 2021 — | Dec 2021 3.5% | Mar 2022 2.3% | Jun 2022 2.1% | Sep 2022 4.8% | Dec 2022 4.2% | Mar 2023 3.0% | Jun 2023 1.8% | Sep 2023 4.7% | Dec 2023 4.3% | Mar 2024 2.5% | Jun 2024 2.4% | Sep 2024 4.8% | Dec 2024 4.2% | Mar 2025 2.2% | Jun 2025 2.5% | Sep 2025 4.8% | Dec 2025 4.2% | Mar 2026 2.7% | Jun 2026 3.2%
- WSM: Sep 2021 — | Dec 2021 12% | Mar 2022 19% | Jun 2022 13% | Sep 2022 14% | Dec 2022 12% | Mar 2023 16% | Jun 2023 7.6% | Sep 2023 10% | Dec 2023 11% | Mar 2024 14% | Jun 2024 10% | Sep 2024 8.8% | Dec 2024 9.9% | Mar 2025 16% | Jun 2025 8.5% | Sep 2025 9.5% | Dec 2025 9.7% | Mar 2026 14% | Jun 2026 8.7%
- ULTA: Sep 2021 — | Dec 2021 7.8% | Mar 2022 11% | Jun 2022 13% | Sep 2022 11% | Dec 2022 9.9% | Mar 2023 13% | Jun 2023 12% | Sep 2023 11% | Dec 2023 8.9% | Mar 2024 13% | Jun 2024 10% | Sep 2024 8.3% | Dec 2024 8.1% | Mar 2025 13% | Jun 2025 9.7% | Sep 2025 8.0% | Dec 2025 7.2% | Mar 2026 11% | Jun 2026 0.0%
- DKS: Sep 2021 — | Dec 2021 8.1% | Mar 2022 8.2% | Jun 2022 6.2% | Sep 2022 7.6% | Dec 2022 5.6% | Mar 2023 4.9% | Jun 2023 5.0% | Sep 2023 4.8% | Dec 2023 4.4% | Mar 2024 5.8% | Jun 2024 5.0% | Sep 2024 6.9% | Dec 2024 4.2% | Mar 2025 5.6% | Jun 2025 5.2% | Sep 2025 6.1% | Dec 2025 0.9% | Mar 2026 1.8% | Jun 2026 4.4%
- BBY: Sep 2021 — | Dec 2021 8.2% | Mar 2022 10% | Jun 2022 6.3% | Sep 2022 4.9% | Dec 2022 4.9% | Mar 2023 8.7% | Jun 2023 4.6% | Sep 2023 5.1% | Dec 2023 5.2% | Mar 2024 8.1% | Jun 2024 4.5% | Sep 2024 5.4% | Dec 2024 5.0% | Mar 2025 3.1% | Jun 2025 3.2% | Sep 2025 3.6% | Dec 2025 2.9% | Mar 2026 11% | Jun 2026 5.4%
- TSCO: Sep 2021 5.7% | Dec 2021 5.3% | Mar 2022 4.5% | Jun 2022 9.3% | Sep 2022 5.3% | Dec 2022 6.1% | Mar 2023 — | Jun 2023 4.1% | Sep 2023 9.0% | Dec 2023 5.1% | Mar 2024 3.9% | Jun 2024 8.0% | Sep 2024 4.5% | Dec 2024 4.4% | Mar 2025 3.4% | Jun 2025 7.7% | Sep 2025 4.4% | Dec 2025 3.8% | Mar 2026 2.8% | Jun 2026 5.6%
- FIVE: Sep 2021 — | Dec 2021 2.2% | Mar 2022 9.0% | Jun 2022 1.9% | Sep 2022 2.4% | Dec 2022 0.9% | Mar 2023 9.0% | Jun 2023 1.7% | Sep 2023 2.2% | Dec 2023 0.6% | Mar 2024 9.1% | Jun 2024 1.2% | Sep 2024 1.3% | Dec 2024 0.0% | Mar 2025 7.3% | Jun 2025 1.5% | Sep 2025 1.5% | Dec 2025 1.2% | Mar 2026 8.2% | Jun 2026 4.0%
- MUSA: Sep 2021 5.6% | Dec 2021 5.8% | Mar 2022 6.6% | Jun 2022 7.9% | Sep 2022 9.2% | Dec 2022 5.2% | Mar 2023 4.9% | Jun 2023 5.9% | Sep 2023 7.2% | Dec 2023 6.4% | Mar 2024 3.1% | Jun 2024 6.3% | Sep 2024 6.3% | Dec 2024 5.6% | Mar 2025 2.5% | Jun 2025 6.2% | Sep 2025 5.5% | Dec 2025 5.7% | Mar 2026 5.5% | Jun 2026 —
- GME: Sep 2021 — | Dec 2021 -6.3% | Mar 2022 -10% | Jun 2022 -9.2% | Sep 2022 -5.1% | Dec 2022 -4.9% | Mar 2023 2.4% | Jun 2023 -3.1% | Sep 2023 -0.9% | Dec 2023 -0.9% | Mar 2024 3.1% | Jun 2024 -2.9% | Sep 2024 -0.7% | Dec 2024 -1.0% | Mar 2025 2.3% | Jun 2025 -0.3% | Sep 2025 0.9% | Dec 2025 0.6% | Mar 2026 1.8% | Jun 2026 1.7%
- BBWI: Sep 2021 — | Dec 2021 6.6% | Mar 2022 13% | Jun 2022 4.9% | Sep 2022 4.2% | Dec 2022 4.9% | Mar 2023 15% | Jun 2023 4.7% | Sep 2023 4.9% | Dec 2023 5.9% | Mar 2024 0.0% | Jun 2024 4.6% | Sep 2024 4.9% | Dec 2024 6.0% | Mar 2025 17% | Jun 2025 5.5% | Sep 2025 4.5% | Dec 2025 4.7% | Mar 2026 17% | Jun 2026 6.4%
- RH: Sep 2021 — | Dec 2021 8.9% | Mar 2022 6.7% | Jun 2022 6.1% | Sep 2022 6.6% | Dec 2022 3.7% | Mar 2023 2.5% | Jun 2023 2.2% | Sep 2023 3.7% | Dec 2023 1.2% | Mar 2024 1.7% | Jun 2024 1.4% | Sep 2024 2.9% | Dec 2024 3.0% | Mar 2025 2.0% | Jun 2025 1.6% | Sep 2025 3.6% | Dec 2025 2.9% | Mar 2026 2.6% | Jun 2026 0.9%
- ASO: Sep 2021 — | Dec 2021 6.1% | Mar 2022 5.9% | Jun 2022 5.9% | Sep 2022 7.3% | Dec 2022 5.2% | Mar 2023 5.8% | Jun 2023 3.5% | Sep 2023 5.9% | Dec 2023 3.7% | Mar 2024 5.5% | Jun 2024 2.8% | Sep 2024 5.1% | Dec 2024 2.4% | Mar 2025 4.0% | Jun 2025 1.8% | Sep 2025 4.4% | Dec 2025 2.5% | Mar 2026 4.2% | Jun 2026 1.8%
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 — | Jun 2024 — | Sep 2024 0.0% | Dec 2024 4.9% | Mar 2025 — | Jun 2025 — | Sep 2025 0.0% | Dec 2025 4.8% | Mar 2026 2.7% | Jun 2026 —
- EYE: Sep 2021 — | Dec 2021 2.5% | Mar 2022 0.4% | Jun 2022 1.8% | Sep 2022 0.9% | Dec 2022 0.8% | Mar 2023 — | Jun 2023 1.5% | Sep 2023 0.3% | Dec 2023 -0.7% | Mar 2024 1.3% | Jun 2024 0.0% | Sep 2024 -0.5% | Dec 2024 -1.5% | Mar 2025 1.6% | Jun 2025 1.1% | Sep 2025 0.6% | Dec 2025 — | Mar 2026 0.4% | Jun 2026 2.9%
- SVV: Sep 2021 — | Dec 2021 7.3% | Mar 2022 3.1% | Jun 2022 4.7% | Sep 2022 8.5% | Dec 2022 5.6% | Mar 2023 — | Jun 2023 1.1% | Sep 2023 4.6% | Dec 2023 2.4% | Mar 2024 1.1% | Jun 2024 2.0% | Sep 2024 3.0% | Dec 2024 2.0% | Mar 2025 0.6% | Jun 2025 2.0% | Sep 2025 2.1% | Dec 2025 — | Mar 2026 2.5% | Jun 2026 0.7%
- SBH: Sep 2021 4.9% | Dec 2021 4.9% | Mar 2022 4.1% | Jun 2022 4.9% | Sep 2022 1.9% | Dec 2022 4.2% | Mar 2023 3.4% | Jun 2023 4.5% | Sep 2023 3.8% | Dec 2023 3.3% | Mar 2024 2.9% | Jun 2024 3.4% | Sep 2024 3.8% | Dec 2024 4.6% | Mar 2025 3.2% | Jun 2025 3.6% | Sep 2025 3.6% | Dec 2025 3.4% | Mar 2026 3.2% | Jun 2026 —
- OLPX: Sep 2021 6.4% | Dec 2021 7.1% | Mar 2022 7.6% | Jun 2022 8.2% | Sep 2022 5.8% | Dec 2022 3.0% | Mar 2023 2.3% | Jun 2023 1.2% | Sep 2023 2.2% | Dec 2023 1.0% | Mar 2024 1.2% | Jun 2024 1.0% | Sep 2024 1.7% | Dec 2024 0.2% | Mar 2025 0.5% | Jun 2025 -0.1% | Sep 2025 0.3% | Dec 2025 -0.3% | Mar 2026 -0.3% | Jun 2026 —
- WINA: Sep 2021 40% | Dec 2021 70% | Mar 2022 137% | Jun 2022 81% | Sep 2022 44% | Dec 2022 73% | Mar 2023 — | Jun 2023 85% | Sep 2023 52% | Dec 2023 65% | Mar 2024 48% | Jun 2024 38% | Sep 2024 35% | Dec 2024 63% | Mar 2025 53% | Jun 2025 38% | Sep 2025 34% | Dec 2025 64% | Mar 2026 46% | Jun 2026 38%
- ARHS: Sep 2021 12% | Dec 2021 -1.8% | Mar 2022 9.0% | Jun 2022 17% | Sep 2022 15% | Dec 2022 17% | Mar 2023 9.2% | Jun 2023 9.4% | Sep 2023 4.0% | Dec 2023 6.2% | Mar 2024 2.7% | Jun 2024 4.0% | Sep 2024 1.4% | Dec 2024 3.7% | Mar 2025 0.7% | Jun 2025 5.6% | Sep 2025 1.9% | Dec 2025 2.3% | Mar 2026 0.2% | Jun 2026 —
- ARKO: Sep 2021 2.7% | Dec 2021 1.2% | Mar 2022 0.8% | Jun 2022 2.0% | Sep 2022 2.6% | Dec 2022 1.3% | Mar 2023 0.3% | Jun 2023 1.4% | Sep 2023 1.5% | Dec 2023 0.8% | Mar 2024 -0.2% | Jun 2024 1.3% | Sep 2024 1.3% | Dec 2024 0.5% | Mar 2025 -0.4% | Jun 2025 1.8% | Sep 2025 1.1% | Dec 2025 0.7% | Mar 2026 0.3% | Jun 2026 —
- WOOF: Sep 2021 — | Dec 2021 1.2% | Mar 2022 1.6% | Jun 2022 0.9% | Sep 2022 0.9% | Dec 2022 0.9% | Mar 2023 1.4% | Jun 2023 0.5% | Sep 2023 0.4% | Dec 2023 -25% | Mar 2024 0.0% | Jun 2024 -0.3% | Sep 2024 0.1% | Dec 2024 0.1% | Mar 2025 0.4% | Jun 2025 0.4% | Sep 2025 1.0% | Dec 2025 0.7% | Mar 2026 0.8% | Jun 2026 0.6%
- HZO: Sep 2021 6.9% | Dec 2021 6.6% | Mar 2022 9.4% | Jun 2022 12% | Sep 2022 6.0% | Dec 2022 3.2% | Mar 2023 4.7% | Jun 2023 6.0% | Sep 2023 2.7% | Dec 2023 1.2% | Mar 2024 1.4% | Jun 2024 3.9% | Sep 2024 1.7% | Dec 2024 2.5% | Mar 2025 1.5% | Jun 2025 -2.7% | Sep 2025 0.9% | Dec 2025 0.3% | Mar 2026 0.7% | Jun 2026 2.5%
- EVGO: Sep 2021 -6.2% | Dec 2021 -7.4% | Mar 2022 -6.5% | Jun 2022 -6.4% | Sep 2022 -5.8% | Dec 2022 -6.3% | Mar 2023 -6.4% | Jun 2023 -4.7% | Sep 2023 -5.3% | Dec 2023 -6.0% | Mar 2024 -4.9% | Jun 2024 -4.5% | Sep 2024 -4.5% | Dec 2024 -5.0% | Mar 2025 -4.6% | Jun 2025 -4.3% | Sep 2025 -4.6% | Dec 2025 -1.6% | Mar 2026 -4.7% | Jun 2026 —
- BNED: Sep 2021 -4.9% | Dec 2021 3.8% | Mar 2022 -4.7% | Jun 2022 -3.4% | Sep 2022 -7.2% | Dec 2022 4.4% | Mar 2023 -1.0% | Jun 2023 -4.0% | Sep 2023 -5.5% | Dec 2023 7.5% | Mar 2024 1.6% | Jun 2024 -0.6% | Sep 2024 -5.9% | Dec 2024 8.9% | Mar 2025 1.5% | Jun 2025 -1.9% | Sep 2025 -3.7% | Dec 2025 9.2% | Mar 2026 3.0% | Jun 2026 -3.6%
- BBW: Sep 2021 — | Dec 2021 4.6% | Mar 2022 12% | Jun 2022 11% | Sep 2022 4.5% | Dec 2022 5.8% | Mar 2023 15% | Jun 2023 12% | Sep 2023 6.3% | Dec 2023 6.1% | Mar 2024 14% | Jun 2024 8.2% | Sep 2024 6.2% | Dec 2024 7.1% | Mar 2025 14% | Jun 2025 9.5% | Sep 2025 6.9% | Dec 2025 4.8% | Mar 2026 9.2% | Jun 2026 9.9%
- BBBY: Sep 2021 4.6% | Dec 2021 6.8% | Mar 2022 1.9% | Jun 2022 1.6% | Sep 2022 0.8% | Dec 2022 -72% | Mar 2023 -1.1% | Jun 2023 -0.6% | Sep 2023 -6.4% | Dec 2023 -26% | Mar 2024 -11% | Jun 2024 -10% | Sep 2024 -11% | Dec 2024 -15% | Mar 2025 -9.5% | Jun 2025 -8.2% | Sep 2025 -5.5% | Dec 2025 -6.4% | Mar 2026 -9.8% | Jun 2026 —
- FLWS: Sep 2021 -2.7% | Dec 2021 14% | Mar 2022 -3.2% | Jun 2022 — | Sep 2022 -3.3% | Dec 2022 -5.1% | Mar 2023 13% | Jun 2023 -10% | Sep 2023 -2.9% | Dec 2023 -4.7% | Mar 2024 -3.4% | Jun 2024 -3.4% | Sep 2024 -6.0% | Dec 2024 11% | Mar 2025 -27% | Jun 2025 -8.2% | Sep 2025 -8.0% | Dec 2025 11% | Mar 2026 -18% | Jun 2026 —
- ONEW: Sep 2021 7.6% | Dec 2021 5.5% | Mar 2022 9.9% | Jun 2022 14% | Sep 2022 5.1% | Dec 2022 2.8% | Mar 2023 5.0% | Jun 2023 5.8% | Sep 2023 -11% | Dec 2023 0.6% | Mar 2024 1.3% | Jun 2024 3.8% | Sep 2024 0.4% | Dec 2024 -0.2% | Mar 2025 1.7% | Jun 2025 3.1% | Sep 2025 -15% | Dec 2025 -0.4% | Mar 2026 0.9% | Jun 2026 —

### 20-quarter ROCE change history
- CASY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.7 pp | Mar 2023 +0.7 pp | Jun 2023 −0.3 pp | Sep 2023 −0.1 pp | Dec 2023 +0.1 pp | Mar 2024 −0.5 pp | Jun 2024 +0.6 pp | Sep 2024 +0.1 pp | Dec 2024 −0.1 pp | Mar 2025 −0.3 pp | Jun 2025 +0.1 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 +0.5 pp | Jun 2026 +0.7 pp
- WSM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.6 pp | Mar 2023 −2.5 pp | Jun 2023 −5.2 pp | Sep 2023 −4.1 pp | Dec 2023 −1.5 pp | Mar 2024 −1.7 pp | Jun 2024 +2.6 pp | Sep 2024 −1.2 pp | Dec 2024 −0.9 pp | Mar 2025 +1.3 pp | Jun 2025 −1.7 pp | Sep 2025 +0.7 pp | Dec 2025 −0.2 pp | Mar 2026 −1.6 pp | Jun 2026 +0.2 pp
- ULTA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +2.1 pp | Mar 2023 +2.2 pp | Jun 2023 −0.1 pp | Sep 2023 −0.3 pp | Dec 2023 −1.0 pp | Mar 2024 +0.4 pp | Jun 2024 −2.1 pp | Sep 2024 −2.6 pp | Dec 2024 −0.8 pp | Mar 2025 −0.9 pp | Jun 2025 −0.6 pp | Sep 2025 −0.3 pp | Dec 2025 −0.9 pp | Mar 2026 −1.9 pp | Jun 2026 −9.7 pp
- DKS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −2.5 pp | Mar 2023 −3.3 pp | Jun 2023 −1.2 pp | Sep 2023 −2.8 pp | Dec 2023 −1.2 pp | Mar 2024 +0.9 pp | Jun 2024 0.0 pp | Sep 2024 +2.1 pp | Dec 2024 −0.2 pp | Mar 2025 −0.2 pp | Jun 2025 +0.2 pp | Sep 2025 −0.8 pp | Dec 2025 −3.3 pp | Mar 2026 −3.8 pp | Jun 2026 −0.8 pp
- BBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −3.3 pp | Mar 2023 −1.7 pp | Jun 2023 −1.7 pp | Sep 2023 +0.2 pp | Dec 2023 +0.3 pp | Mar 2024 −0.6 pp | Jun 2024 −0.1 pp | Sep 2024 +0.3 pp | Dec 2024 −0.2 pp | Mar 2025 −5.0 pp | Jun 2025 −1.3 pp | Sep 2025 −1.8 pp | Dec 2025 −2.1 pp | Mar 2026 +7.4 pp | Jun 2026 +2.2 pp
- TSCO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 +0.8 pp | Mar 2023 — | Jun 2023 −5.2 pp | Sep 2023 +3.7 pp | Dec 2023 −1.0 pp | Mar 2024 — | Jun 2024 +3.9 pp | Sep 2024 −4.5 pp | Dec 2024 −0.7 pp | Mar 2025 −0.5 pp | Jun 2025 −0.3 pp | Sep 2025 −0.1 pp | Dec 2025 −0.6 pp | Mar 2026 −0.6 pp | Jun 2026 −2.1 pp
- FIVE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.3 pp | Mar 2023 0.0 pp | Jun 2023 −0.2 pp | Sep 2023 −0.2 pp | Dec 2023 −0.3 pp | Mar 2024 +0.1 pp | Jun 2024 −0.5 pp | Sep 2024 −0.9 pp | Dec 2024 −0.6 pp | Mar 2025 −1.8 pp | Jun 2025 +0.3 pp | Sep 2025 +0.2 pp | Dec 2025 +1.2 pp | Mar 2026 +0.9 pp | Jun 2026 +2.5 pp
- MUSA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.6 pp | Dec 2022 −0.6 pp | Mar 2023 −1.7 pp | Jun 2023 −2.0 pp | Sep 2023 −2.0 pp | Dec 2023 +1.2 pp | Mar 2024 −1.8 pp | Jun 2024 +0.4 pp | Sep 2024 −0.9 pp | Dec 2024 −0.8 pp | Mar 2025 −0.6 pp | Jun 2025 −0.1 pp | Sep 2025 −0.8 pp | Dec 2025 +0.1 pp | Mar 2026 +3.0 pp | Jun 2026 —
- GME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.4 pp | Mar 2023 +12.6 pp | Jun 2023 +6.1 pp | Sep 2023 +4.2 pp | Dec 2023 +4.0 pp | Mar 2024 +0.7 pp | Jun 2024 +0.2 pp | Sep 2024 +0.2 pp | Dec 2024 −0.1 pp | Mar 2025 −0.8 pp | Jun 2025 +2.6 pp | Sep 2025 +1.6 pp | Dec 2025 +1.6 pp | Mar 2026 −0.5 pp | Jun 2026 +2.0 pp
- BBWI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.7 pp | Mar 2023 +1.8 pp | Jun 2023 −0.2 pp | Sep 2023 +0.7 pp | Dec 2023 +1.0 pp | Mar 2024 −14.8 pp | Jun 2024 −0.1 pp | Sep 2024 0.0 pp | Dec 2024 +0.1 pp | Mar 2025 +17.4 pp | Jun 2025 +0.9 pp | Sep 2025 −0.4 pp | Dec 2025 −1.3 pp | Mar 2026 −0.6 pp | Jun 2026 +0.9 pp
- RH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −5.2 pp | Mar 2023 −4.2 pp | Jun 2023 −3.9 pp | Sep 2023 −2.9 pp | Dec 2023 −2.5 pp | Mar 2024 −0.8 pp | Jun 2024 −0.8 pp | Sep 2024 −0.8 pp | Dec 2024 +1.8 pp | Mar 2025 +0.3 pp | Jun 2025 +0.2 pp | Sep 2025 +0.7 pp | Dec 2025 −0.1 pp | Mar 2026 +0.6 pp | Jun 2026 −0.7 pp
- ASO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.9 pp | Mar 2023 −0.1 pp | Jun 2023 −2.4 pp | Sep 2023 −1.4 pp | Dec 2023 −1.5 pp | Mar 2024 −0.3 pp | Jun 2024 −0.7 pp | Sep 2024 −0.8 pp | Dec 2024 −1.3 pp | Mar 2025 −1.5 pp | Jun 2025 −1.0 pp | Sep 2025 −0.7 pp | Dec 2025 +0.1 pp | Mar 2026 +0.2 pp | Jun 2026 0.0 pp
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 0.0 pp | Dec 2024 +4.9 pp | Mar 2025 — | Jun 2025 — | Sep 2025 0.0 pp | Dec 2025 −0.1 pp | Mar 2026 — | Jun 2026 —
- EYE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.7 pp | Mar 2023 — | Jun 2023 −0.3 pp | Sep 2023 −0.6 pp | Dec 2023 −1.5 pp | Mar 2024 — | Jun 2024 −1.5 pp | Sep 2024 −0.8 pp | Dec 2024 −0.8 pp | Mar 2025 +0.3 pp | Jun 2025 +1.1 pp | Sep 2025 +1.1 pp | Dec 2025 — | Mar 2026 −1.2 pp | Jun 2026 +1.8 pp
- SVV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −1.7 pp | Mar 2023 — | Jun 2023 −3.6 pp | Sep 2023 −3.9 pp | Dec 2023 −3.2 pp | Mar 2024 — | Jun 2024 +0.9 pp | Sep 2024 −1.6 pp | Dec 2024 −0.4 pp | Mar 2025 −0.5 pp | Jun 2025 0.0 pp | Sep 2025 −0.9 pp | Dec 2025 — | Mar 2026 +1.9 pp | Jun 2026 −1.3 pp
- SBH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.0 pp | Dec 2022 −0.7 pp | Mar 2023 −0.7 pp | Jun 2023 −0.4 pp | Sep 2023 +1.9 pp | Dec 2023 −0.9 pp | Mar 2024 −0.5 pp | Jun 2024 −1.1 pp | Sep 2024 0.0 pp | Dec 2024 +1.3 pp | Mar 2025 +0.3 pp | Jun 2025 +0.2 pp | Sep 2025 −0.2 pp | Dec 2025 −1.2 pp | Mar 2026 0.0 pp | Jun 2026 —
- OLPX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.6 pp | Dec 2022 −4.1 pp | Mar 2023 −5.3 pp | Jun 2023 −7.0 pp | Sep 2023 −3.6 pp | Dec 2023 −2.0 pp | Mar 2024 −1.1 pp | Jun 2024 −0.2 pp | Sep 2024 −0.5 pp | Dec 2024 −0.8 pp | Mar 2025 −0.7 pp | Jun 2025 −1.1 pp | Sep 2025 −1.4 pp | Dec 2025 −0.5 pp | Mar 2026 −0.8 pp | Jun 2026 —
- WINA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.2 pp | Dec 2022 +2.9 pp | Mar 2023 — | Jun 2023 +4.0 pp | Sep 2023 +8.9 pp | Dec 2023 −7.6 pp | Mar 2024 — | Jun 2024 −47.3 pp | Sep 2024 −17.4 pp | Dec 2024 −1.9 pp | Mar 2025 +4.6 pp | Jun 2025 −0.1 pp | Sep 2025 −1.1 pp | Dec 2025 +0.1 pp | Mar 2026 −7.1 pp | Jun 2026 +0.7 pp
- ARHS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.7 pp | Dec 2022 +19.0 pp | Mar 2023 +0.2 pp | Jun 2023 −7.7 pp | Sep 2023 −10.7 pp | Dec 2023 −11.0 pp | Mar 2024 −6.5 pp | Jun 2024 −5.4 pp | Sep 2024 −2.6 pp | Dec 2024 −2.5 pp | Mar 2025 −2.0 pp | Jun 2025 +1.6 pp | Sep 2025 +0.5 pp | Dec 2025 −1.4 pp | Mar 2026 −0.5 pp | Jun 2026 —
- ARKO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.1 pp | Dec 2022 +0.1 pp | Mar 2023 −0.5 pp | Jun 2023 −0.6 pp | Sep 2023 −1.1 pp | Dec 2023 −0.5 pp | Mar 2024 −0.5 pp | Jun 2024 −0.1 pp | Sep 2024 −0.2 pp | Dec 2024 −0.3 pp | Mar 2025 −0.2 pp | Jun 2025 +0.5 pp | Sep 2025 −0.2 pp | Dec 2025 +0.2 pp | Mar 2026 +0.7 pp | Jun 2026 —
- WOOF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.3 pp | Mar 2023 −0.2 pp | Jun 2023 −0.4 pp | Sep 2023 −0.5 pp | Dec 2023 −26.0 pp | Mar 2024 −1.4 pp | Jun 2024 −0.8 pp | Sep 2024 −0.3 pp | Dec 2024 +25.2 pp | Mar 2025 +0.4 pp | Jun 2025 +0.7 pp | Sep 2025 +0.9 pp | Dec 2025 +0.6 pp | Mar 2026 +0.4 pp | Jun 2026 +0.2 pp
- HZO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.9 pp | Dec 2022 −3.4 pp | Mar 2023 −4.7 pp | Jun 2023 −5.6 pp | Sep 2023 −3.3 pp | Dec 2023 −2.0 pp | Mar 2024 −3.3 pp | Jun 2024 −2.1 pp | Sep 2024 −1.0 pp | Dec 2024 +1.3 pp | Mar 2025 +0.1 pp | Jun 2025 −6.6 pp | Sep 2025 −0.8 pp | Dec 2025 −2.2 pp | Mar 2026 −0.8 pp | Jun 2026 +5.2 pp
- EVGO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.4 pp | Dec 2022 +1.1 pp | Mar 2023 +0.1 pp | Jun 2023 +1.7 pp | Sep 2023 +0.5 pp | Dec 2023 +0.3 pp | Mar 2024 +1.5 pp | Jun 2024 +0.2 pp | Sep 2024 +0.8 pp | Dec 2024 +1.0 pp | Mar 2025 +0.3 pp | Jun 2025 +0.2 pp | Sep 2025 −0.1 pp | Dec 2025 +3.4 pp | Mar 2026 −0.1 pp | Jun 2026 —
- BNED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.3 pp | Dec 2022 +0.6 pp | Mar 2023 +3.7 pp | Jun 2023 −0.6 pp | Sep 2023 +1.7 pp | Dec 2023 +3.1 pp | Mar 2024 +2.6 pp | Jun 2024 +3.4 pp | Sep 2024 −0.4 pp | Dec 2024 +1.4 pp | Mar 2025 −0.1 pp | Jun 2025 −1.3 pp | Sep 2025 +2.2 pp | Dec 2025 +0.3 pp | Mar 2026 +1.5 pp | Jun 2026 −1.7 pp
- BBW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.2 pp | Mar 2023 +3.2 pp | Jun 2023 +0.9 pp | Sep 2023 +1.8 pp | Dec 2023 +0.3 pp | Mar 2024 −1.0 pp | Jun 2024 −3.3 pp | Sep 2024 −0.1 pp | Dec 2024 +1.0 pp | Mar 2025 −0.3 pp | Jun 2025 +1.3 pp | Sep 2025 +0.7 pp | Dec 2025 −2.3 pp | Mar 2026 −4.5 pp | Jun 2026 +0.4 pp
- BBBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.8 pp | Dec 2022 −79.2 pp | Mar 2023 −3.0 pp | Jun 2023 −2.2 pp | Sep 2023 −7.2 pp | Dec 2023 +46.8 pp | Mar 2024 −10.3 pp | Jun 2024 −9.8 pp | Sep 2024 −4.9 pp | Dec 2024 +10.2 pp | Mar 2025 +1.9 pp | Jun 2025 +2.2 pp | Sep 2025 +5.8 pp | Dec 2025 +9.0 pp | Mar 2026 −0.3 pp | Jun 2026 —
- FLWS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.6 pp | Dec 2022 −18.7 pp | Mar 2023 +16.2 pp | Jun 2023 — | Sep 2023 +0.4 pp | Dec 2023 +0.4 pp | Mar 2024 −16.4 pp | Jun 2024 +6.8 pp | Sep 2024 −3.1 pp | Dec 2024 +15.7 pp | Mar 2025 −23.5 pp | Jun 2025 −4.8 pp | Sep 2025 −2.0 pp | Dec 2025 −0.2 pp | Mar 2026 +9.1 pp | Jun 2026 —
- ONEW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.5 pp | Dec 2022 −2.7 pp | Mar 2023 −4.9 pp | Jun 2023 −7.7 pp | Sep 2023 −16.5 pp | Dec 2023 −2.2 pp | Mar 2024 −3.7 pp | Jun 2024 −2.0 pp | Sep 2024 +11.8 pp | Dec 2024 −0.8 pp | Mar 2025 +0.4 pp | Jun 2025 −0.7 pp | Sep 2025 −15.2 pp | Dec 2025 −0.2 pp | Mar 2026 −0.8 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Bath & Body Works, Inc. has the lowest comparable Guarded PEG at 0.24×, 31.4% below Best Buy Co., Inc.. Only 14 of 28 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Bath & Body Works, Inc. · 0.24× | 31.4% versus #2 · Best Buy Co., Inc. | 0/8 recent comparable periods | 14/28 companies · 63 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. Bath & Body Works, Inc. (BBWI): 0.2
2. Best Buy Co., Inc. (BBY): 0.4
3. RH (RH): 0.5
4. Five Below, Inc. (FIVE): 0.7
5. Murphy USA Inc. (MUSA): 0.8

### P/E — lowest P/E
1. Bath & Body Works, Inc. (BBWI): 5.4
2. Sally Beauty Holdings, Inc. (SBH): 7.7
3. Build-A-Bear Workshop, Inc. (BBW): 8.4
4. Academy Sports and Outdoors, Inc. (ASO): 9.5
5. OneWater Marine Inc. (ONEW): 10.4

### 20-quarter Guarded PEG history
- CASY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.6 | Sep 2023 0.9 | Dec 2023 1.3 | Mar 2024 — | Jun 2024 1.9 | Sep 2024 2.5 | Dec 2024 2.5 | Mar 2025 2.1 | Jun 2025 3.5 | Sep 2025 2.5 | Dec 2025 2.4 | Mar 2026 1.6 | Jun 2026 1.4
- WSM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 2.7 | Sep 2024 1.4 | Dec 2024 1.1 | Mar 2025 1.2 | Jun 2025 2.6 | Sep 2025 2.2 | Dec 2025 2.1 | Mar 2026 — | Jun 2026 —
- ULTA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 1.0 | Sep 2023 1.1 | Dec 2023 1.9 | Mar 2024 2.3 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- DKS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 1.0 | Jun 2024 — | Sep 2024 0.7 | Dec 2024 0.6 | Mar 2025 1.1 | Jun 2025 0.9 | Sep 2025 2.9 | Dec 2025 — | Mar 2026 — | Jun 2026 —
- BBY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 0.7 | Jun 2026 0.4
- FIVE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 2.9 | Dec 2023 2.0 | Mar 2024 2.2 | Jun 2024 2.4 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 1.9 | Mar 2026 0.7 | Jun 2026 —
- MUSA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.2 | Jun 2023 0.8 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 0.8 | Jun 2026 —
- BBWI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 0.5 | Sep 2024 0.2 | Dec 2024 0.2 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- RH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 0.5 | Mar 2026 — | Jun 2026 —
- ASO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 1.7 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SBH: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 1.0 | Mar 2025 0.2 | Jun 2025 0.1 | Sep 2025 0.3 | Dec 2025 1.5 | Mar 2026 — | Jun 2026 —
- WINA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 3.7 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ARHS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 0.8 | Dec 2023 0.9 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 1.0 | Jun 2026 —
- ARKO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 3.9 | Mar 2026 — | Jun 2026 —
- BBW: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 0.7 | Dec 2023 1.1 | Mar 2024 0.4 | Jun 2024 1.2 | Sep 2024 — | Dec 2024 1.2 | Mar 2025 — | Jun 2025 0.5 | Sep 2025 0.4 | Dec 2025 0.8 | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- CASY: Sep 2021 — | Dec 2021 24.1 | Mar 2022 21.8 | Jun 2022 22.1 | Sep 2022 20.3 | Dec 2022 21.0 | Mar 2023 19.6 | Jun 2023 19.2 | Sep 2023 20.5 | Dec 2023 21.1 | Mar 2024 21.6 | Jun 2024 23.8 | Sep 2024 28.2 | Dec 2024 27.5 | Mar 2025 29.4 | Jun 2025 31.6 | Sep 2025 33.4 | Dec 2025 31.6 | Mar 2026 34.8 | Jun 2026 42.9
- WSM: Sep 2021 — | Dec 2021 13.9 | Mar 2022 10.5 | Jun 2022 8.5 | Sep 2022 9.0 | Dec 2022 7.4 | Mar 2023 7.8 | Jun 2023 8.0 | Sep 2023 9.7 | Dec 2023 10.1 | Mar 2024 14.3 | Jun 2024 17.4 | Sep 2024 18.9 | Dec 2024 16.3 | Mar 2025 24.1 | Jun 2025 18.5 | Sep 2025 20.9 | Dec 2025 21.4 | Mar 2026 23.2 | Jun 2026 20.2
- ULTA: Sep 2021 — | Dec 2021 23.5 | Mar 2022 20.0 | Jun 2022 19.6 | Sep 2022 18.2 | Dec 2022 18.3 | Mar 2023 21.1 | Jun 2023 22.4 | Sep 2023 17.9 | Dec 2023 15.4 | Mar 2024 19.4 | Jun 2024 15.5 | Sep 2024 13.7 | Dec 2024 15.1 | Mar 2025 16.3 | Jun 2025 15.5 | Sep 2025 19.5 | Dec 2025 19.9 | Mar 2026 25.3 | Jun 2026 20.0
- DKS: Sep 2021 — | Dec 2021 9.6 | Mar 2022 8.2 | Jun 2022 7.5 | Sep 2022 8.0 | Dec 2022 10.3 | Mar 2023 11.7 | Jun 2023 12.4 | Sep 2023 12.0 | Dec 2023 9.0 | Mar 2024 12.8 | Jun 2024 16.8 | Sep 2024 14.6 | Dec 2024 13.9 | Mar 2025 17.1 | Jun 2025 13.9 | Sep 2025 14.4 | Dec 2025 17.8 | Mar 2026 20.3 | Jun 2026 21.4
- BBY: Sep 2021 — | Dec 2021 11.9 | Mar 2022 9.9 | Jun 2022 10.0 | Sep 2022 10.3 | Dec 2022 10.2 | Mar 2023 13.5 | Jun 2023 12.6 | Sep 2023 14.3 | Dec 2023 11.1 | Mar 2024 13.3 | Jun 2024 13.0 | Sep 2024 14.2 | Dec 2024 15.5 | Mar 2025 20.1 | Jun 2025 16.6 | Sep 2025 17.7 | Dec 2025 27.2 | Mar 2026 12.9 | Jun 2026 11.1
- TSCO: Sep 2021 26.9 | Dec 2021 26.5 | Mar 2022 26.6 | Jun 2022 22.4 | Sep 2022 20.2 | Dec 2022 23.2 | Mar 2023 — | Jun 2023 24.2 | Sep 2023 22.1 | Dec 2023 21.3 | Mar 2024 25.4 | Jun 2024 25.9 | Sep 2024 27.7 | Dec 2024 26.8 | Mar 2025 26.5 | Jun 2025 25.4 | Sep 2025 27.2 | Dec 2025 25.0 | Mar 2026 22.0 | Jun 2026 16.3
- FIVE: Sep 2021 — | Dec 2021 42.3 | Mar 2022 32.1 | Jun 2022 33.7 | Sep 2022 29.9 | Dec 2022 36.3 | Mar 2023 41.6 | Jun 2023 41.4 | Sep 2023 42.6 | Dec 2023 35.1 | Mar 2024 33.5 | Jun 2024 27.2 | Sep 2024 13.6 | Dec 2024 19.8 | Mar 2025 20.4 | Jun 2025 17.7 | Sep 2025 27.0 | Dec 2025 28.2 | Mar 2026 29.6 | Jun 2026 29.1
- MUSA: Sep 2021 12.9 | Dec 2021 13.4 | Mar 2022 10.5 | Jun 2022 10.7 | Sep 2022 10.1 | Dec 2022 10.0 | Mar 2023 9.6 | Jun 2023 12.3 | Sep 2023 14.4 | Dec 2023 14.0 | Mar 2024 17.6 | Jun 2024 19.0 | Sep 2024 20.3 | Dec 2024 20.8 | Mar 2025 19.8 | Jun 2025 16.8 | Sep 2025 16.4 | Dec 2025 16.7 | Mar 2026 17.1 | Jun 2026 —
- GME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 736.5 | Jun 2024 205.9 | Sep 2024 162.1 | Dec 2024 124.5 | Mar 2025 81.5 | Jun 2025 59.7 | Sep 2025 30.3 | Dec 2025 27.2 | Mar 2026 31.0 | Jun 2026 20.1
- BBWI: Sep 2021 — | Dec 2021 15.0 | Mar 2022 11.2 | Jun 2022 11.5 | Sep 2022 9.4 | Dec 2022 8.8 | Mar 2023 13.0 | Jun 2023 11.2 | Sep 2023 12.0 | Dec 2023 9.0 | Mar 2024 11.3 | Jun 2024 11.9 | Sep 2024 8.0 | Dec 2024 7.1 | Mar 2025 10.4 | Jun 2025 8.3 | Sep 2025 8.4 | Dec 2025 7.5 | Mar 2026 7.0 | Jun 2026 5.4
- RH: Sep 2021 — | Dec 2021 30.7 | Mar 2022 17.7 | Jun 2022 13.4 | Sep 2022 12.4 | Dec 2022 12.5 | Mar 2023 15.6 | Jun 2023 17.9 | Sep 2023 29.5 | Dec 2023 23.1 | Mar 2024 43.3 | Jun 2024 76.2 | Sep 2024 151.5 | Dec 2024 92.8 | Mar 2025 115.8 | Jun 2025 46.8 | Sep 2025 37.4 | Dec 2025 31.1 | Mar 2026 32.4 | Jun 2026 25.1
- ASO: Sep 2021 — | Dec 2021 6.6 | Mar 2022 5.3 | Jun 2022 5.4 | Sep 2022 6.0 | Dec 2022 6.3 | Mar 2023 7.4 | Jun 2023 8.7 | Sep 2023 8.3 | Dec 2023 6.4 | Mar 2024 9.6 | Jun 2024 8.8 | Sep 2024 7.6 | Dec 2024 8.3 | Mar 2025 9.1 | Jun 2025 7.2 | Sep 2025 9.2 | Dec 2025 8.8 | Mar 2026 9.9 | Jun 2026 9.5
- EYE: Sep 2021 — | Dec 2021 31.3 | Mar 2022 33.6 | Jun 2022 34.7 | Sep 2022 28.7 | Dec 2022 48.0 | Mar 2023 — | Jun 2023 53.8 | Sep 2023 81.0 | Dec 2023 — | Mar 2024 738.7 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 70.1 | Jun 2026 41.6
- SVV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 51.5 | Dec 2023 51.1 | Mar 2024 47.0 | Jun 2024 53.2 | Sep 2024 23.2 | Dec 2024 60.7 | Mar 2025 46.7 | Jun 2025 48.9 | Sep 2025 — | Dec 2025 — | Mar 2026 67.5 | Jun 2026 53.6
- SBH: Sep 2021 8.0 | Dec 2021 8.4 | Mar 2022 6.9 | Jun 2022 5.8 | Sep 2022 7.6 | Dec 2022 8.3 | Mar 2023 10.7 | Jun 2023 8.3 | Sep 2023 5.0 | Dec 2023 8.5 | Mar 2024 8.5 | Jun 2024 7.8 | Sep 2024 9.5 | Dec 2024 6.3 | Mar 2025 5.1 | Jun 2025 5.0 | Sep 2025 8.6 | Dec 2025 8.1 | Mar 2026 7.7 | Jun 2026 —
- OLPX: Sep 2021 87.5 | Dec 2021 91.0 | Mar 2022 44.7 | Jun 2022 35.2 | Sep 2022 23.3 | Dec 2022 14.9 | Mar 2023 14.2 | Jun 2023 20.7 | Sep 2023 16.3 | Dec 2023 28.2 | Mar 2024 27.4 | Jun 2024 22.0 | Sep 2024 39.2 | Dec 2024 57.7 | Mar 2025 63.5 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- WINA: Sep 2021 22.8 | Dec 2021 23.1 | Mar 2022 21.1 | Jun 2022 18.5 | Sep 2022 19.5 | Dec 2022 21.5 | Mar 2023 — | Jun 2023 29.6 | Sep 2023 29.9 | Dec 2023 37.8 | Mar 2024 33.0 | Jun 2024 32.2 | Sep 2024 35.2 | Dec 2024 36.4 | Mar 2025 28.2 | Jun 2025 33.4 | Sep 2025 44.8 | Dec 2025 36.3 | Mar 2026 37.6 | Jun 2026 38.0
- ARHS: Sep 2021 — | Dec 2021 73.6 | Mar 2022 31.5 | Jun 2022 9.0 | Sep 2022 9.9 | Dec 2022 10.0 | Mar 2023 9.2 | Jun 2023 11.2 | Sep 2023 11.5 | Dec 2023 13.3 | Mar 2024 20.3 | Jun 2024 26.9 | Sep 2024 22.0 | Dec 2024 19.2 | Mar 2025 21.2 | Jun 2025 17.3 | Sep 2025 20.4 | Dec 2025 23.4 | Mar 2026 14.4 | Jun 2026 —
- ARKO: Sep 2021 59.4 | Dec 2021 20.9 | Mar 2022 17.2 | Jun 2022 14.1 | Sep 2022 18.8 | Dec 2022 16.3 | Mar 2023 18.1 | Jun 2023 23.4 | Sep 2023 21.0 | Dec 2023 34.4 | Mar 2024 21.9 | Jun 2024 24.1 | Sep 2024 43.9 | Dec 2024 50.7 | Mar 2025 131.7 | Jun 2025 52.9 | Sep 2025 41.6 | Dec 2025 30.3 | Mar 2026 29.3 | Jun 2026 —
- WOOF: Sep 2021 — | Dec 2021 51.5 | Mar 2022 29.5 | Jun 2022 28.3 | Sep 2022 30.9 | Dec 2022 33.2 | Mar 2023 34.5 | Jun 2023 43.3 | Sep 2023 63.8 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 89.7 | Jun 2026 144.0
- HZO: Sep 2021 7.2 | Dec 2021 8.1 | Mar 2022 5.0 | Jun 2022 4.2 | Sep 2022 3.4 | Dec 2022 3.8 | Mar 2023 4.0 | Jun 2023 5.7 | Sep 2023 6.7 | Dec 2023 9.6 | Mar 2024 12.1 | Jun 2024 15.1 | Sep 2024 21.4 | Dec 2024 12.2 | Mar 2025 8.8 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 261.6
- BNED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 8.4 | Dec 2025 101.4 | Mar 2026 — | Jun 2026 21.0
- BBW: Sep 2021 — | Dec 2021 7.4 | Mar 2022 5.9 | Jun 2022 6.0 | Sep 2022 5.1 | Dec 2022 5.4 | Mar 2023 7.7 | Jun 2023 7.1 | Sep 2023 7.1 | Dec 2023 7.0 | Mar 2024 6.2 | Jun 2024 8.6 | Sep 2024 7.2 | Dec 2024 10.1 | Mar 2025 11.1 | Jun 2025 8.8 | Sep 2025 11.1 | Dec 2025 12.5 | Mar 2026 15.0 | Jun 2026 8.4
- BBBY: Sep 2021 10.1 | Dec 2021 7.3 | Mar 2022 5.5 | Jun 2022 15.3 | Sep 2022 121.8 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- FLWS: Sep 2021 19.6 | Dec 2021 16.5 | Mar 2022 13.8 | Jun 2022 — | Sep 2022 21.3 | Dec 2022 54.1 | Mar 2023 191.2 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ONEW: Sep 2021 5.8 | Dec 2021 8.0 | Mar 2022 4.1 | Jun 2022 3.6 | Sep 2022 3.3 | Dec 2022 3.5 | Mar 2023 3.8 | Jun 2023 6.7 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 9.4 | Mar 2025 7.7 | Jun 2025 7.6 | Sep 2025 — | Dec 2025 6.5 | Mar 2026 10.4 | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: Bath & Body Works, Inc. leads ev/ebitda at 5.54×; OneWater Marine Inc. leads p/bv at 0.58×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Bath & Body Works, Inc. · 5.54× | 13.2% versus #2 · Best Buy Co., Inc. | 8/8 recent comparable periods | 26/28 companies · 437 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. Bath & Body Works, Inc. (BBWI): 5.5
2. Best Buy Co., Inc. (BBY): 6.4
3. Build-A-Bear Workshop, Inc. (BBW): 6.5
4. Sally Beauty Holdings, Inc. (SBH): 6.7
5. Academy Sports and Outdoors, Inc. (ASO): 7.8

### P/BV — lowest P/BV
1. OneWater Marine Inc. (ONEW): 0.6
2. Petco Health and Wellness Company, Inc. (WOOF): 0.7
3. MarineMax, Inc. (HZO): 0.9
4. 1-800-FLOWERS.COM, Inc. (FLWS): 1.0
5. Barnes & Noble Education, Inc. (BNED): 1.2

### 20-quarter EV/EBITDA history
- CASY: Sep 2021 — | Dec 2021 11.8 | Mar 2022 11.2 | Jun 2022 11.2 | Sep 2022 10.5 | Dec 2022 11.0 | Mar 2023 10.6 | Jun 2023 10.3 | Sep 2023 10.9 | Dec 2023 11.2 | Mar 2024 11.4 | Jun 2024 12.6 | Sep 2024 14.4 | Dec 2024 15.0 | Mar 2025 15.9 | Jun 2025 16.5 | Sep 2025 17.2 | Dec 2025 16.2 | Mar 2026 17.8 | Jun 2026 22.1
- WSM: Sep 2021 — | Dec 2021 9.4 | Mar 2022 7.0 | Jun 2022 5.9 | Sep 2022 6.2 | Dec 2022 5.4 | Mar 2023 5.5 | Jun 2023 5.6 | Sep 2023 6.6 | Dec 2023 6.8 | Mar 2024 9.2 | Jun 2024 11.4 | Sep 2024 12.4 | Dec 2024 10.8 | Mar 2025 15.8 | Jun 2025 12.3 | Sep 2025 13.8 | Dec 2025 14.1 | Mar 2026 15.0 | Jun 2026 13.4
- ULTA: Sep 2021 — | Dec 2021 14.9 | Mar 2022 12.9 | Jun 2022 12.9 | Sep 2022 12.3 | Dec 2022 12.6 | Mar 2023 14.2 | Jun 2023 15.3 | Sep 2023 12.5 | Dec 2023 11.1 | Mar 2024 13.3 | Jun 2024 10.8 | Sep 2024 9.7 | Dec 2024 10.7 | Mar 2025 11.0 | Jun 2025 10.5 | Sep 2025 13.3 | Dec 2025 13.7 | Mar 2026 16.5 | Jun 2026 80.9
- DKS: Sep 2021 — | Dec 2021 5.5 | Mar 2022 4.5 | Jun 2022 4.4 | Sep 2022 4.7 | Dec 2022 6.2 | Mar 2023 6.9 | Jun 2023 8.3 | Sep 2023 8.3 | Dec 2023 6.8 | Mar 2024 9.0 | Jun 2024 11.3 | Sep 2024 10.1 | Dec 2024 10.0 | Mar 2025 11.8 | Jun 2025 9.9 | Sep 2025 10.4 | Dec 2025 14.2 | Mar 2026 15.4 | Jun 2026 15.5
- BBY: Sep 2021 — | Dec 2021 7.4 | Mar 2022 5.8 | Jun 2022 6.5 | Sep 2022 6.4 | Dec 2022 6.4 | Mar 2023 7.6 | Jun 2023 7.5 | Sep 2023 8.2 | Dec 2023 6.8 | Mar 2024 7.5 | Jun 2024 7.6 | Sep 2024 8.0 | Dec 2024 9.2 | Mar 2025 9.7 | Jun 2025 8.5 | Sep 2025 8.2 | Dec 2025 11.8 | Mar 2026 7.2 | Jun 2026 6.4
- TSCO: Sep 2021 18.4 | Dec 2021 18.3 | Mar 2022 18.4 | Jun 2022 15.0 | Sep 2022 14.4 | Dec 2022 16.2 | Mar 2023 — | Jun 2023 16.9 | Sep 2023 15.3 | Dec 2023 14.9 | Mar 2024 17.4 | Jun 2024 17.7 | Sep 2024 18.7 | Dec 2024 17.9 | Mar 2025 17.7 | Jun 2025 16.8 | Sep 2025 18.0 | Dec 2025 16.7 | Mar 2026 15.3 | Jun 2026 12.3
- FIVE: Sep 2021 — | Dec 2021 27.2 | Mar 2022 21.1 | Jun 2022 21.9 | Sep 2022 19.4 | Dec 2022 23.8 | Mar 2023 26.5 | Jun 2023 26.5 | Sep 2023 27.4 | Dec 2023 23.4 | Mar 2024 21.8 | Jun 2024 18.2 | Sep 2024 10.5 | Dec 2024 13.9 | Mar 2025 13.5 | Jun 2025 11.6 | Sep 2025 16.3 | Dec 2025 17.5 | Mar 2026 18.0 | Jun 2026 18.0
- MUSA: Sep 2021 8.4 | Dec 2021 8.5 | Mar 2022 7.1 | Jun 2022 7.3 | Sep 2022 7.0 | Dec 2022 6.9 | Mar 2023 6.9 | Jun 2023 8.2 | Sep 2023 9.3 | Dec 2023 9.1 | Mar 2024 10.9 | Jun 2024 11.6 | Sep 2024 12.3 | Dec 2024 12.5 | Mar 2025 11.9 | Jun 2025 10.5 | Sep 2025 10.2 | Dec 2025 10.3 | Mar 2026 10.5 | Jun 2026 —
- GME: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 180.0 | Jun 2024 — | Sep 2024 — | Dec 2024 6,511.2 | Mar 2025 603.2 | Jun 2025 185.7 | Sep 2025 44.3 | Dec 2025 28.1 | Mar 2026 24.5 | Jun 2026 19.7
- BBWI: Sep 2021 — | Dec 2021 21.5 | Mar 2022 7.6 | Jun 2022 8.2 | Sep 2022 7.0 | Dec 2022 7.6 | Mar 2023 9.4 | Jun 2023 9.0 | Sep 2023 9.5 | Dec 2023 8.0 | Mar 2024 9.2 | Jun 2024 18.5 | Sep 2024 15.1 | Dec 2024 14.3 | Mar 2025 8.0 | Jun 2025 7.0 | Sep 2025 6.9 | Dec 2025 6.7 | Mar 2026 6.1 | Jun 2026 5.5
- RH: Sep 2021 — | Dec 2021 14.6 | Mar 2022 8.8 | Jun 2022 8.3 | Sep 2022 7.5 | Dec 2022 7.6 | Mar 2023 10.0 | Jun 2023 9.7 | Sep 2023 14.4 | Dec 2023 11.9 | Mar 2024 14.4 | Jun 2024 16.1 | Sep 2024 17.2 | Dec 2024 17.9 | Mar 2025 21.3 | Jun 2025 13.5 | Sep 2025 12.8 | Dec 2025 11.8 | Mar 2026 12.1 | Jun 2026 10.2
- ASO: Sep 2021 — | Dec 2021 5.4 | Mar 2022 4.6 | Jun 2022 4.7 | Sep 2022 5.0 | Dec 2022 5.3 | Mar 2023 6.0 | Jun 2023 7.2 | Sep 2023 7.0 | Dec 2023 6.0 | Mar 2024 7.8 | Jun 2024 7.1 | Sep 2024 6.5 | Dec 2024 7.1 | Mar 2025 7.7 | Jun 2025 6.6 | Sep 2025 7.9 | Dec 2025 7.7 | Mar 2026 8.1 | Jun 2026 7.8
- EYE: Sep 2021 — | Dec 2021 16.1 | Mar 2022 16.8 | Jun 2022 17.2 | Sep 2022 13.8 | Dec 2022 18.6 | Mar 2023 — | Jun 2023 14.6 | Sep 2023 19.1 | Dec 2023 19.7 | Mar 2024 21.4 | Jun 2024 16.0 | Sep 2024 16.7 | Dec 2024 19.1 | Mar 2025 20.8 | Jun 2025 25.3 | Sep 2025 24.8 | Dec 2025 — | Mar 2026 18.1 | Jun 2026 14.9
- SVV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 18.9 | Dec 2023 19.2 | Mar 2024 20.6 | Jun 2024 17.9 | Sep 2024 14.1 | Dec 2024 14.0 | Mar 2025 11.9 | Jun 2025 14.2 | Sep 2025 18.2 | Dec 2025 — | Mar 2026 13.5 | Jun 2026 11.9
- SBH: Sep 2021 6.6 | Dec 2021 7.0 | Mar 2022 6.3 | Jun 2022 5.9 | Sep 2022 6.9 | Dec 2022 7.2 | Mar 2023 8.3 | Jun 2023 7.6 | Sep 2023 5.7 | Dec 2023 7.1 | Mar 2024 7.0 | Jun 2024 6.8 | Sep 2024 7.3 | Dec 2024 6.0 | Mar 2025 5.5 | Jun 2025 5.4 | Sep 2025 6.9 | Dec 2025 6.9 | Mar 2026 6.7 | Jun 2026 —
- OLPX: Sep 2021 49.4 | Dec 2021 50.8 | Mar 2022 25.5 | Jun 2022 20.8 | Sep 2022 14.3 | Dec 2022 9.0 | Mar 2023 9.1 | Jun 2023 11.4 | Sep 2023 8.0 | Dec 2023 11.8 | Mar 2024 9.8 | Jun 2024 8.2 | Sep 2024 12.5 | Dec 2024 10.1 | Mar 2025 8.4 | Jun 2025 10.9 | Sep 2025 13.8 | Dec 2025 15.3 | Mar 2026 29.4 | Jun 2026 —
- WINA: Sep 2021 16.1 | Dec 2021 17.8 | Mar 2022 16.2 | Jun 2022 14.5 | Sep 2022 15.1 | Dec 2022 16.2 | Mar 2023 — | Jun 2023 21.9 | Sep 2023 22.2 | Dec 2023 28.1 | Mar 2024 24.4 | Jun 2024 23.9 | Sep 2024 25.9 | Dec 2024 27.1 | Mar 2025 20.9 | Jun 2025 24.8 | Sep 2025 32.9 | Dec 2025 27.4 | Mar 2026 28.4 | Jun 2026 28.1
- ARHS: Sep 2021 — | Dec 2021 30.4 | Mar 2022 8.6 | Jun 2022 7.4 | Sep 2022 8.3 | Dec 2022 7.6 | Mar 2023 6.1 | Jun 2023 7.3 | Sep 2023 7.0 | Dec 2023 9.8 | Mar 2024 14.3 | Jun 2024 18.7 | Sep 2024 15.3 | Dec 2024 12.9 | Mar 2025 13.3 | Jun 2025 11.3 | Sep 2025 12.6 | Dec 2025 14.1 | Mar 2026 10.4 | Jun 2026 —
- ARKO: Sep 2021 13.9 | Dec 2021 12.4 | Mar 2022 12.2 | Jun 2022 11.6 | Sep 2022 11.8 | Dec 2022 11.5 | Mar 2023 12.8 | Jun 2023 12.8 | Sep 2023 13.2 | Dec 2023 13.7 | Mar 2024 13.3 | Jun 2024 13.4 | Sep 2024 13.6 | Dec 2024 14.0 | Mar 2025 12.4 | Jun 2025 12.2 | Sep 2025 12.5 | Dec 2025 12.1 | Mar 2026 11.2 | Jun 2026 —
- WOOF: Sep 2021 — | Dec 2021 22.2 | Mar 2022 17.4 | Jun 2022 17.8 | Sep 2022 15.4 | Dec 2022 13.7 | Mar 2023 14.4 | Jun 2023 13.9 | Sep 2023 13.6 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 21.1 | Mar 2025 17.2 | Jun 2025 15.2 | Sep 2025 12.8 | Dec 2025 11.9 | Mar 2026 10.6 | Jun 2026 10.6
- HZO: Sep 2021 4.5 | Dec 2021 5.6 | Mar 2022 3.3 | Jun 2022 2.7 | Sep 2022 2.5 | Dec 2022 5.1 | Mar 2023 5.6 | Jun 2023 6.4 | Sep 2023 6.7 | Dec 2023 8.3 | Mar 2024 9.3 | Jun 2024 9.4 | Sep 2024 10.5 | Dec 2024 9.5 | Mar 2025 8.3 | Jun 2025 17.9 | Sep 2025 48.2 | Dec 2025 — | Mar 2026 — | Jun 2026 26.3
- BNED: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1,363.6 | Jun 2023 — | Sep 2023 48.1 | Dec 2023 19.4 | Mar 2024 15.4 | Jun 2024 9.1 | Sep 2024 11.1 | Dec 2024 10.1 | Mar 2025 12.7 | Jun 2025 12.4 | Sep 2025 10.8 | Dec 2025 10.0 | Mar 2026 8.8 | Jun 2026 9.4
- BBW: Sep 2021 — | Dec 2021 5.9 | Mar 2022 5.5 | Jun 2022 5.3 | Sep 2022 4.8 | Dec 2022 4.9 | Mar 2023 5.4 | Jun 2023 5.3 | Sep 2023 5.2 | Dec 2023 5.2 | Mar 2024 4.6 | Jun 2024 6.1 | Sep 2024 5.5 | Dec 2024 7.3 | Mar 2025 7.8 | Jun 2025 6.3 | Sep 2025 8.0 | Dec 2025 9.1 | Mar 2026 10.6 | Jun 2026 6.5
- BBBY: Sep 2021 1,599.0 | Dec 2021 12.2 | Mar 2022 6.4 | Jun 2022 3.1 | Sep 2022 4.1 | Dec 2022 18.7 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- FLWS: Sep 2021 13.3 | Dec 2021 9.6 | Mar 2022 8.2 | Jun 2022 — | Sep 2022 9.6 | Dec 2022 11.6 | Mar 2023 13.0 | Jun 2023 59.3 | Sep 2023 34.5 | Dec 2023 32.6 | Mar 2024 14.5 | Jun 2024 14.5 | Sep 2024 19.9 | Dec 2024 17.4 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ONEW: Sep 2021 5.2 | Dec 2021 8.7 | Mar 2022 5.9 | Jun 2022 5.0 | Sep 2022 5.4 | Dec 2022 6.1 | Mar 2023 6.5 | Jun 2023 7.9 | Sep 2023 31.6 | Dec 2023 68.4 | Mar 2024 — | Jun 2024 — | Sep 2024 10.7 | Dec 2024 16.4 | Mar 2025 15.3 | Jun 2025 15.3 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/BV history
- CASY: Sep 2021 — | Dec 2021 3.4 | Mar 2022 3.2 | Jun 2022 3.3 | Sep 2022 3.2 | Dec 2022 3.5 | Mar 2023 3.4 | Jun 2023 3.2 | Sep 2023 3.4 | Dec 2023 3.5 | Mar 2024 3.4 | Jun 2024 3.9 | Sep 2024 4.6 | Dec 2024 4.4 | Mar 2025 4.6 | Jun 2025 4.9 | Sep 2025 5.3 | Dec 2025 5.0 | Mar 2026 5.8 | Jun 2026 7.7
- WSM: Sep 2021 — | Dec 2021 8.8 | Mar 2022 6.7 | Jun 2022 6.9 | Sep 2022 7.6 | Dec 2022 5.8 | Mar 2023 4.9 | Jun 2023 5.3 | Sep 2023 5.6 | Dec 2023 5.2 | Mar 2024 6.3 | Jun 2024 8.2 | Sep 2024 8.9 | Dec 2024 8.9 | Mar 2025 12.2 | Jun 2025 9.1 | Sep 2025 10.6 | Dec 2025 11.3 | Mar 2026 11.7 | Jun 2026 11.3
- ULTA: Sep 2021 — | Dec 2021 10.0 | Mar 2022 12.2 | Jun 2022 11.8 | Sep 2022 11.3 | Dec 2022 11.1 | Mar 2023 13.0 | Jun 2023 13.6 | Sep 2023 10.7 | Dec 2023 9.1 | Mar 2024 10.7 | Jun 2024 8.3 | Sep 2024 6.9 | Dec 2024 7.6 | Mar 2025 7.6 | Jun 2025 7.3 | Sep 2025 8.8 | Dec 2025 8.8 | Mar 2026 10.2 | Jun 2026 8.9
- DKS: Sep 2021 — | Dec 2021 4.0 | Mar 2022 4.1 | Jun 2022 3.4 | Sep 2022 3.3 | Dec 2022 3.9 | Mar 2023 4.1 | Jun 2023 4.6 | Sep 2023 4.3 | Dec 2023 3.4 | Mar 2024 4.8 | Jun 2024 6.1 | Sep 2024 5.5 | Dec 2024 5.1 | Mar 2025 6.0 | Jun 2025 5.0 | Sep 2025 4.9 | Dec 2025 3.2 | Mar 2026 3.2 | Jun 2026 3.6
- BBY: Sep 2021 — | Dec 2021 6.9 | Mar 2022 7.4 | Jun 2022 7.3 | Sep 2022 6.0 | Dec 2022 5.1 | Mar 2023 6.7 | Jun 2023 5.8 | Sep 2023 6.4 | Dec 2023 5.0 | Mar 2024 5.3 | Jun 2024 5.2 | Sep 2024 5.7 | Dec 2024 6.3 | Mar 2025 6.5 | Jun 2025 5.2 | Sep 2025 5.0 | Dec 2025 6.5 | Mar 2026 4.6 | Jun 2026 4.1
- TSCO: Sep 2021 11.9 | Dec 2021 12.9 | Mar 2022 14.5 | Jun 2022 11.8 | Sep 2022 10.6 | Dec 2022 12.1 | Mar 2023 — | Jun 2023 13.5 | Sep 2023 11.6 | Dec 2023 10.8 | Mar 2024 13.3 | Jun 2024 12.6 | Sep 2024 13.4 | Dec 2024 12.8 | Mar 2025 12.7 | Jun 2025 11.0 | Sep 2025 11.6 | Dec 2025 10.5 | Mar 2026 9.4 | Jun 2026 6.2
- FIVE: Sep 2021 — | Dec 2021 10.7 | Mar 2022 7.9 | Jun 2022 7.8 | Sep 2022 6.1 | Dec 2022 7.0 | Mar 2023 8.0 | Jun 2023 7.9 | Sep 2023 8.0 | Dec 2023 6.8 | Mar 2024 6.3 | Jun 2024 5.0 | Sep 2024 2.4 | Dec 2024 3.3 | Mar 2025 2.9 | Jun 2025 2.5 | Sep 2025 3.9 | Dec 2025 4.5 | Mar 2026 4.8 | Jun 2026 5.5
- MUSA: Sep 2021 5.2 | Dec 2021 6.2 | Mar 2022 6.1 | Jun 2022 7.1 | Sep 2022 8.1 | Dec 2022 9.5 | Mar 2023 7.8 | Jun 2023 8.9 | Sep 2023 8.6 | Dec 2023 9.0 | Mar 2024 11.1 | Jun 2024 11.9 | Sep 2024 12.0 | Dec 2024 12.0 | Mar 2025 12.9 | Jun 2025 12.2 | Sep 2025 13.3 | Dec 2025 12.1 | Mar 2026 13.9 | Jun 2026 —
- GME: Sep 2021 — | Dec 2021 7.9 | Mar 2022 4.6 | Jun 2022 6.5 | Sep 2022 7.7 | Dec 2022 6.9 | Mar 2023 5.3 | Jun 2023 4.6 | Sep 2023 5.3 | Dec 2023 3.2 | Mar 2024 3.4 | Jun 2024 3.9 | Sep 2024 2.1 | Dec 2024 2.1 | Mar 2025 2.4 | Jun 2025 2.5 | Sep 2025 1.9 | Dec 2025 1.9 | Mar 2026 2.0 | Jun 2026 2.0
- BBWI: Sep 2021 — | Dec 2021 -10.7 | Mar 2022 -9.1 | Jun 2022 -4.7 | Sep 2022 -3.0 | Dec 2022 -2.9 | Mar 2023 -4.6 | Jun 2023 -3.7 | Sep 2023 -3.9 | Dec 2023 -3.0 | Mar 2024 -6.0 | Jun 2024 -6.1 | Sep 2024 -4.3 | Dec 2024 -3.6 | Mar 2025 -5.9 | Jun 2025 -4.6 | Sep 2025 -3.8 | Dec 2025 -3.2 | Mar 2026 -3.4 | Jun 2026 -3.4
- RH: Sep 2021 — | Dec 2021 14.1 | Mar 2022 7.2 | Jun 2022 6.2 | Sep 2022 5.4 | Dec 2022 4.7 | Mar 2023 8.7 | Jun 2023 6.7 | Sep 2023 -25.0 | Dec 2023 -11.7 | Mar 2024 -15.8 | Jun 2024 -17.4 | Sep 2024 -20.3 | Dec 2024 -32.8 | Mar 2025 -48.0 | Jun 2025 -33.2 | Sep 2025 -92.0 | Dec 2025 968.0 | Mar 2026 63.5 | Jun 2026 43.2
- ASO: Sep 2021 — | Dec 2021 2.7 | Mar 2022 2.2 | Jun 2022 2.1 | Sep 2022 2.3 | Dec 2022 2.2 | Mar 2023 2.6 | Jun 2023 2.9 | Sep 2023 2.5 | Dec 2023 1.8 | Mar 2024 2.5 | Jun 2024 2.2 | Sep 2024 1.8 | Dec 2024 1.8 | Mar 2025 1.8 | Jun 2025 1.3 | Sep 2025 1.6 | Dec 2025 1.5 | Mar 2026 1.7 | Jun 2026 1.6
- BOBS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 2.9 | Jun 2026 —
- EYE: Sep 2021 — | Dec 2021 4.6 | Mar 2022 4.2 | Jun 2022 3.8 | Sep 2022 2.5 | Dec 2022 2.8 | Mar 2023 — | Jun 2023 1.6 | Sep 2023 2.1 | Dec 2023 2.0 | Mar 2024 2.1 | Jun 2024 1.2 | Sep 2024 1.0 | Dec 2024 1.0 | Mar 2025 1.2 | Jun 2025 2.2 | Sep 2025 2.6 | Dec 2025 — | Mar 2026 2.4 | Jun 2026 2.1
- SVV: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -267.2 | Dec 2023 7.4 | Mar 2024 7.9 | Jun 2024 4.7 | Sep 2024 4.0 | Dec 2024 3.9 | Mar 2025 2.7 | Jun 2025 3.8 | Sep 2025 5.2 | Dec 2025 — | Mar 2026 3.4 | Jun 2026 2.7
- SBH: Sep 2021 6.8 | Dec 2021 7.2 | Mar 2022 6.2 | Jun 2022 4.3 | Sep 2022 4.6 | Dec 2022 3.6 | Mar 2023 3.9 | Jun 2023 2.7 | Sep 2023 1.8 | Dec 2023 2.6 | Mar 2024 2.3 | Jun 2024 1.9 | Sep 2024 2.2 | Dec 2024 1.6 | Mar 2025 1.3 | Jun 2025 1.2 | Sep 2025 2.0 | Dec 2025 1.7 | Mar 2026 1.6 | Jun 2026 —
- OLPX: Sep 2021 35.1 | Dec 2021 36.1 | Mar 2022 17.2 | Jun 2022 13.5 | Sep 2022 8.3 | Dec 2022 4.3 | Mar 2023 3.5 | Jun 2023 3.0 | Sep 2023 1.5 | Dec 2023 2.0 | Mar 2024 1.5 | Jun 2024 1.2 | Sep 2024 1.8 | Dec 2024 1.3 | Mar 2025 1.0 | Jun 2025 1.1 | Sep 2025 1.0 | Dec 2025 1.0 | Mar 2026 1.6 | Jun 2026 —
- WINA: Sep 2021 -61.2 | Dec 2021 -22.5 | Mar 2022 -12.0 | Jun 2022 -10.1 | Sep 2022 -12.4 | Dec 2022 -13.2 | Mar 2023 — | Jun 2023 -20.5 | Sep 2023 -26.6 | Dec 2023 -24.7 | Mar 2024 -24.1 | Jun 2024 -29.4 | Sep 2024 -40.2 | Dec 2024 -27.5 | Mar 2025 -24.2 | Jun 2025 -36.1 | Sep 2025 -67.9 | Dec 2025 -27.3 | Mar 2026 -32.3 | Jun 2026 -39.9
- ARHS: Sep 2021 — | Dec 2021 26.0 | Mar 2022 5.0 | Jun 2022 5.0 | Sep 2022 6.1 | Dec 2022 6.4 | Mar 2023 4.7 | Jun 2023 5.1 | Sep 2023 4.2 | Dec 2023 4.9 | Mar 2024 7.6 | Jun 2024 7.7 | Sep 2024 5.4 | Dec 2024 3.9 | Mar 2025 3.5 | Jun 2025 3.2 | Sep 2025 3.7 | Dec 2025 3.8 | Mar 2026 2.6 | Jun 2026 —
- ARKO: Sep 2021 5.2 | Dec 2021 4.3 | Mar 2022 4.6 | Jun 2022 4.0 | Sep 2022 4.2 | Dec 2022 3.7 | Mar 2023 3.7 | Jun 2023 3.4 | Sep 2023 2.9 | Dec 2023 3.5 | Mar 2024 2.5 | Jun 2024 2.7 | Sep 2024 2.9 | Dec 2024 2.8 | Mar 2025 1.8 | Jun 2025 1.8 | Sep 2025 1.9 | Dec 2025 1.9 | Mar 2026 1.6 | Jun 2026 —
- WOOF: Sep 2021 — | Dec 2021 2.9 | Mar 2022 2.1 | Jun 2022 2.2 | Sep 2022 1.6 | Dec 2022 1.2 | Mar 2023 1.3 | Jun 2023 1.1 | Sep 2023 0.9 | Dec 2023 0.7 | Mar 2024 0.6 | Jun 2024 0.4 | Sep 2024 0.7 | Dec 2024 1.1 | Mar 2025 0.9 | Jun 2025 0.8 | Sep 2025 0.7 | Dec 2025 0.8 | Mar 2026 0.7 | Jun 2026 0.7
- HZO: Sep 2021 1.8 | Dec 2021 2.1 | Mar 2022 1.3 | Jun 2022 1.1 | Sep 2022 0.8 | Dec 2022 0.8 | Mar 2023 0.7 | Jun 2023 0.8 | Sep 2023 0.8 | Dec 2023 0.9 | Mar 2024 0.8 | Jun 2024 0.7 | Sep 2024 0.8 | Dec 2024 0.7 | Mar 2025 0.5 | Jun 2025 0.6 | Sep 2025 0.6 | Dec 2025 0.6 | Mar 2026 0.6 | Jun 2026 0.9
- EVGO: Sep 2021 -0.6 | Dec 2021 -0.5 | Mar 2022 -0.4 | Jun 2022 -0.7 | Sep 2022 -0.5 | Dec 2022 -0.9 | Mar 2023 -0.5 | Jun 2023 -1.1 | Sep 2023 -3.7 | Dec 2023 -2.3 | Mar 2024 10.3 | Jun 2024 19.1 | Sep 2024 -1.3 | Dec 2024 -2.1 | Mar 2025 -9.6 | Jun 2025 -2.1 | Sep 2025 -1.5 | Dec 2025 -3.4 | Mar 2026 6.2 | Jun 2026 —
- BNED: Sep 2021 1.7 | Dec 2021 2.0 | Mar 2022 1.2 | Jun 2022 0.7 | Sep 2022 0.8 | Dec 2022 0.7 | Mar 2023 0.7 | Jun 2023 0.6 | Sep 2023 0.8 | Dec 2023 0.5 | Mar 2024 0.5 | Jun 2024 0.1 | Sep 2024 1.8 | Dec 2024 1.4 | Mar 2025 1.4 | Jun 2025 1.3 | Sep 2025 1.1 | Dec 2025 1.1 | Mar 2026 1.1 | Jun 2026 1.2
- BBW: Sep 2021 — | Dec 2021 2.8 | Mar 2022 3.0 | Jun 2022 3.0 | Sep 2022 2.6 | Dec 2022 2.7 | Mar 2023 3.0 | Jun 2023 3.2 | Sep 2023 3.3 | Dec 2023 3.2 | Mar 2024 2.5 | Jun 2024 3.3 | Sep 2024 2.8 | Dec 2024 4.0 | Mar 2025 4.0 | Jun 2025 3.2 | Sep 2025 4.2 | Dec 2025 4.7 | Mar 2026 4.9 | Jun 2026 2.9
- BBBY: Sep 2021 2.9 | Dec 2021 30.5 | Mar 2022 1.6 | Jun 2022 0.9 | Sep 2022 1.0 | Dec 2022 10.0 | Mar 2023 1.4 | Jun 2023 2.6 | Sep 2023 1.4 | Dec 2023 3.5 | Mar 2024 5.7 | Jun 2024 2.4 | Sep 2024 2.4 | Dec 2024 1.6 | Mar 2025 2.3 | Jun 2025 3.0 | Sep 2025 3.1 | Dec 2025 1.7 | Mar 2026 1.6 | Jun 2026 —
- FLWS: Sep 2021 4.5 | Dec 2021 2.6 | Mar 2022 1.6 | Jun 2022 — | Sep 2022 1.2 | Dec 2022 0.9 | Mar 2023 1.6 | Jun 2023 1.5 | Sep 2023 1.1 | Dec 2023 1.0 | Mar 2024 1.4 | Jun 2024 1.3 | Sep 2024 1.2 | Dec 2024 1.4 | Mar 2025 1.7 | Jun 2025 1.2 | Sep 2025 1.4 | Dec 2025 0.9 | Mar 2026 1.0 | Jun 2026 —
- ONEW: Sep 2021 2.4 | Dec 2021 3.2 | Mar 2022 1.6 | Jun 2022 1.3 | Sep 2022 1.1 | Dec 2022 1.0 | Mar 2023 1.0 | Jun 2023 1.2 | Sep 2023 1.0 | Dec 2023 1.4 | Mar 2024 1.2 | Jun 2024 1.1 | Sep 2024 1.0 | Dec 2024 0.7 | Mar 2025 0.7 | Jun 2025 0.6 | Sep 2025 0.9 | Dec 2025 0.7 | Mar 2026 0.6 | Jun 2026 —

## Market action

Arko Corp. has the strongest one-year price move in Specialty Retail at +101.3%. It also leads on Mansfield relative strength against the S&P 500 at +29.9%. 9 of 27 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. Arko Corp. (ARKO): 101%
2. Murphy USA Inc. (MUSA): 66%
3. Casey's General Stores, Inc. (CASY): 64%
4. Sally Beauty Holdings, Inc. (SBH): 60%
5. MarineMax, Inc. (HZO): 59%

### Strongest relative strength versus NIFTY 500
1. Arko Corp. (ARKO): 30%
2. Barnes & Noble Education, Inc. (BNED): 28%
3. Murphy USA Inc. (MUSA): 24%
4. Casey's General Stores, Inc. (CASY): 21%
5. Olaplex Holdings, Inc. (OLPX): 20%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

## Every company
- Casey's General Stores, Inc. (CASY) — market value ₹31.7K Cr; latest fundamentals Jun 2026
- Williams-Sonoma, Inc. (WSM) — market value ₹27.8K Cr; latest fundamentals Jun 2026
- Ulta Beauty, Inc. (ULTA) — market value ₹21.6K Cr; latest fundamentals Jun 2026
- DICK'S Sporting Goods, Inc. (DKS) — market value ₹18.9K Cr; latest fundamentals Jun 2026
- Best Buy Co., Inc. (BBY) — market value ₹18.9K Cr; latest fundamentals Jun 2026
- Tractor Supply Company (TSCO) — market value ₹16.5K Cr; latest fundamentals Jun 2026
- Five Below, Inc. (FIVE) — market value ₹11.5K Cr; latest fundamentals Jun 2026
- Murphy USA Inc. (MUSA) — market value ₹11.1K Cr; latest fundamentals Mar 2026
- GameStop Corp. (GME) — market value ₹9.9K Cr; latest fundamentals Jun 2026
- Bath & Body Works, Inc. (BBWI) — market value ₹4.1K Cr; latest fundamentals Jun 2026
- RH (RH) — market value ₹3.4K Cr; latest fundamentals Jun 2026
- Academy Sports and Outdoors, Inc. (ASO) — market value ₹3.1K Cr; latest fundamentals Jun 2026
- Bob's Discount Furniture, Inc. (BOBS) — market value ₹2.2K Cr; latest fundamentals Mar 2026
- National Vision Holdings, Inc. (EYE) — market value ₹1.7K Cr; latest fundamentals Jun 2026
- Savers Value Village, Inc. (SVV) — market value ₹1.6K Cr; latest fundamentals Jun 2026
- Sally Beauty Holdings, Inc. (SBH) — market value ₹1.5K Cr; latest fundamentals Mar 2026
- Olaplex Holdings, Inc. (OLPX) — market value ₹1.4K Cr; latest fundamentals Mar 2026
- Winmark Corporation (WINA) — market value ₹1.2K Cr; latest fundamentals Jun 2026
- Arhaus, Inc. (ARHS) — market value ₹1.1K Cr; latest fundamentals Mar 2026
- Arko Corp. (ARKO) — market value ₹901 Cr; latest fundamentals Mar 2026
- Petco Health and Wellness Company, Inc. (WOOF) — market value ₹811 Cr; latest fundamentals Jun 2026
- MarineMax, Inc. (HZO) — market value ₹784 Cr; latest fundamentals Jun 2026
- EVgo, Inc. (EVGO) — market value ₹512 Cr; latest fundamentals Mar 2026
- Barnes & Noble Education, Inc. (BNED) — market value ₹451 Cr; latest fundamentals Jun 2026
- Build-A-Bear Workshop, Inc. (BBW) — market value ₹431 Cr; latest fundamentals Jun 2026
- Bed Bath & Beyond, Inc. (BBBY) — market value ₹428 Cr; latest fundamentals Mar 2026
- 1-800-FLOWERS.COM, Inc. (FLWS) — market value ₹254 Cr; latest fundamentals Mar 2026
- OneWater Marine Inc. (ONEW) — market value ₹217 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Specialty Retail company is the biggest?

Best Buy Co., Inc. is the largest, with trailing-twelve-month revenue of $41,860 million, ahead of Murphy USA Inc. at $19,678 million. That covers 21 of 28 companies with comparable reporting through Jun 2026.

### Which Specialty Retail company is growing fastest?

EVgo, Inc. has the fastest revenue growth at 50.4% year on year, across 21 of 28 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Specialty Retail company has the best profit margins?

Winmark Corporation has the highest operating margin at 59.3%, from 28 of 28 comparable companies. 1-800-FLOWERS.COM, Inc. shows the biggest recent improvement, at +26.1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Specialty Retail company makes the most profit?

Ulta Beauty, Inc. earns the most, at $1,193 million of trailing-twelve-month net profit, from 21 of 28 comparable companies. GameStop Corp. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Specialty Retail company earns the highest return on capital?

Winmark Corporation leads on return on capital employed at 38.3%, across 28 of 28 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Specialty Retail stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Bath & Body Works, Inc. screens cheapest at 0.24×. Only 14 of 28 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Specialty Retail company has the strongest balance sheet?

Bed Bath & Beyond, Inc. carries the lowest comparable gross debt at $22 million, from 28 of 28 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Specialty Retail company is investing most in new capacity?

DICK'S Sporting Goods, Inc. reports the largest capital spending at $361 million, across 28 of 28 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

### Is the Specialty Retail sector beating the market?

Specialty Retail has underperformed S&P 500 by 3.6% over the last 52 weeks and 5.2% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 9 of 27 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Specialty Retail stock has the strongest price momentum?

Arko Corp. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Specialty Retail company scores highest for research priority?

Five Below, Inc. scores 69.9 out of 100 with 86.2% evidence confidence, from 31 points on growth and earnings, 14.4 on capital efficiency, 13.8 on valuation and 10.7 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Specialty Retail companies does this comparison cover, and over what period?

It compares 28 listed companies over up to 20 reported quarters of fundamentals and 8 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Specialty Retail sector?

The 28 Specialty Retail companies on this page carry $194,115 million of combined market value. Casey's General Stores, Inc. is the largest at $31,708 million, about 16% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Specialty Retail sector's P/E ratio?

The median price-to-earnings ratio across the 28 Specialty Retail companies on this page is 21.4×, measured on the 26 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Specialty Retail sector performing?

9 of the 27 covered Specialty Retail companies are beating S&P 500 on Mansfield relative strength. The sector itself is 3.6% behind S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Specialty Retail stocks are listed in the US?

This comparison covers 28 listed Specialty Retail companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/specialty-retail