Bath & Body Works, Inc. (BBWI) Balance Sheet

NYSE: BBWIAssets, liabilities, debt and equity over 10 years.

BBWI balance sheet, FY2026

January 31, 2026 · U.S. dollars

$5.07B assets = $6.35B liabilities + −$1.28B equity

Liabilities exceed assets: shareholders’ equity is negative (−$1.28B).

Both columns are drawn to the same scale: what BBWI owns equals what it owes plus shareholders’ equity. Hover a block for its value.

BBWI financial health

Current ratio1.27

Adequate · current assets cover current liabilities 1.27×

Equity / assets−25.2%

Thin equity · of assets funded by shareholders

Cash / debt19.2%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles15.6%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2026.

BBWI balance sheet trends, FY2017–FY2026

Bath & Body Works, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$8.17BFY2017	$5.07BFY2026	−5.2%/yr
Total liabilities	$8.90BFY2017	$6.35BFY2026	−3.7%/yr
Shareholders’ equity	−$729.0MFY2017	−$1.28BFY2026	—
Cash & short-term investments	$1.93BFY2017	$953.0MFY2026	−7.6%/yr
Total debt	$5.74BFY2017	$4.95BFY2026	−1.6%/yr
Net cash (debt)	−$3.80BFY2017	−$4.00BFY2026	−$199.0M
Working capital	$1.45BFY2017	$428.0MFY2026	−$1.0B
Book value per share	−$2.50FY2017	−$6.04FY2026	—
Current ratio	1.72FY2017	1.27FY2026	−0.45
Shares outstanding	291.1MFY2017	211.6MFY2026	−3.5%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

BBWI assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

BBWI liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

BBWI debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

BBWI balance sheet

Bath & Body Works, Inc. annual balance sheet
	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Assets
Cash & short-term investments	$953.0M	$674.0M	$1.08B	$1.23B	$1.98B	$3.57B	$1.50B	$1.41B	$1.51B	$1.93B
Cash & equivalents	$953.0M	$674.0M	$1.08B	$1.23B	$1.98B	$3.57B	$1.50B	$1.41B	$1.51B	$1.93B
Short-term investments	—	—	—	—	—	—	—	$11.0M	$17.0M	$5.0M
Receivables	$180.0M	$205.0M	$224.0M	$226.0M	$240.0M	$148.0M	$306.0M	$367.0M	$310.0M	$294.0M
Inventory	$699.0M	$734.0M	$710.0M	$709.0M	$709.0M	$572.0M	$1.29B	$1.25B	$1.24B	$1.10B
Other current assets	$187.0M	$210.0M	$97.0M	$99.0M	$81.0M	$1.29B	$153.0M	$232.0M	$228.0M	$141.0M
Total current assets	$2.02B	$1.82B	$2.12B	$2.27B	$3.01B	$5.58B	$3.25B	$3.26B	$3.29B	$3.46B
Property, plant & equipment (net)	$2.07B	$2.08B	$2.28B	$2.24B	$2.03B	$1.99B	$5.54B	$2.82B	$2.89B	$2.74B
Goodwill & intangible assets	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$1.04B	$1.76B	$1.76B	$1.76B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$189.0M	$180.0M	$279.0M	$192.0M	$194.0M	$3.21B	$302.0M	$253.0M	$204.0M	$205.0M
Total assets	$5.07B	$4.87B	$5.46B	$5.49B	$6.03B	$11.57B	$10.12B	$8.09B	$8.15B	$8.17B
Liabilities
Accounts payable	$465.0M	$338.0M	$380.0M	$455.0M	$435.0M	$345.0M	$647.0M	$711.0M	$717.0M	$683.0M
Short-term debt	$475.0M	$192.0M	$181.0M	$177.0M	$170.0M	$173.0M	$539.0M	$80.0M	$87.0M	$36.0M
Deferred revenue	$223.0M	$197.0M	$198.0M	$195.0M	$148.0M	$115.0M	$330.0M	$316.0M	$267.0M	$259.0M
Total current liabilities	$1.59B	$1.23B	$1.29B	$1.38B	$1.29B	$2.83B	$2.37B	$1.99B	$2.03B	$2.01B
Long-term debt	$3.61B	$3.88B	$4.39B	$4.86B	$4.85B	$6.37B	$5.49B	$5.74B	$5.71B	$0
Lease obligations	$1.06B	$1.07B	$1.19B	$1.19B	$1.16B	$3.09B	$3.53B	—	—	—
Other long-term liabilities	$1.15B	$1.14B	$1.41B	$1.46B	$1.40B	$3.04B	$3.76B	$1.23B	$1.16B	$6.88B
Total liabilities	$6.35B	$6.25B	$7.09B	$7.70B	$7.54B	$12.23B	$11.62B	$8.96B	$8.90B	$8.90B
Shareholders' equity
Common stock & paid-in capital	$108.0M	$115.0M	$120.0M	$122.0M	$134.0M	$143.0M	$142.0M	$141.0M	$141.0M	$157.0M
Retained earnings (deficit)	−$1.44B	−$1.58B	−$1.84B	−$2.40B	−$1.80B	−$1.42B	−$2.18B	−$1.48B	−$1.43B	$205.0M
Treasury stock	—	—	—	−$822.0M	−$822.0M	−$358.0M	—	—	—	—
Accumulated other comprehensive income	$74.0M	$71.0M	$75.0M	$78.0M	$80.0M	$83.0M	$52.0M	$59.0M	$24.0M	$12.0M
Minority interest	$2.0M	$2.0M	$1.0M	$1.0M	$1.0M	$1.0M	—	—	—	—
Total shareholders' equity	−$1.28B	−$1.39B	−$1.63B	−$2.21B	−$1.52B	−$662.0M	−$1.50B	−$869.0M	−$753.0M	−$729.0M
Key figures
Total debt	$4.95B	$4.96B	$5.57B	$6.05B	$6.01B	$7.48B	$9.08B	$5.81B	$5.79B	$5.74B
Net cash (debt)	−$4.00B	−$4.29B	−$4.49B	−$4.82B	−$4.03B	−$3.91B	−$7.58B	−$4.40B	−$4.28B	−$3.80B
Working capital	$428.0M	$592.0M	$826.0M	$887.0M	$1.72B	$2.75B	$873.0M	$1.27B	$1.26B	$1.45B
Tangible book value	−$2.07B	−$2.18B	−$2.42B	−$3.00B	−$2.31B	−$1.46B	−$2.54B	−$2.63B	−$2.51B	−$2.49B
Book value per share	−$6.04	−$6.27	−$7.10	−$9.46	−$5.56	−$2.36	−$5.43	−$3.15	−$2.62	−$2.50
Shares outstanding	211.6M	221.0M	229.0M	233.0M	273.0M	281.0M	276.0M	276.2M	287.4M	291.1M
Current ratio	1.27	1.48	1.64	1.64	2.33	1.97	1.37	1.64	1.62	1.72
Quick ratio	0.71	0.71	1.01	1.06	1.72	1.31	0.76	0.90	0.90	1.11
Equity / assets	−25.2%	−28.4%	−29.8%	−40.1%	−25.2%	−5.7%	−14.8%	−10.7%	−9.2%	−8.9%

Bath & Body Works, Inc. quarterly balance sheet
	Jul '26	Apr '26	Jan '26	Oct '25	Jul '25	Apr '25	Jan '25	Oct '24	Jul '24	Apr '24	Jan '24	Oct '23
Assets
Cash & short-term investments	$794.0M	$820.0M	$953.0M	$236.0M	$364.0M	$636.0M	$674.0M	$191.0M	$514.0M	$855.0M	$1.08B	$412.0M
Cash & equivalents	$794.0M	$820.0M	$953.0M	$236.0M	$364.0M	$636.0M	$674.0M	$191.0M	$514.0M	$855.0M	$1.08B	$412.0M
Receivables	$154.0M	$98.0M	$180.0M	$169.0M	$131.0M	$103.0M	$205.0M	$200.0M	$146.0M	$121.0M	$224.0M	$197.0M
Inventory	$883.0M	$782.0M	$699.0M	$1.25B	$977.0M	$869.0M	$734.0M	$1.18B	$863.0M	$814.0M	$710.0M	$1.21B
Other current assets	$219.0M	$199.0M	$187.0M	$225.0M	$234.0M	$212.0M	$210.0M	$151.0M	$143.0M	$127.0M	$97.0M	$145.0M
Total current assets	$2.05B	$1.90B	$2.02B	$1.88B	$1.71B	$1.82B	$1.82B	$1.72B	$1.67B	$1.92B	$2.12B	$1.96B
Property, plant & equipment (net)	$2.12B	$2.08B	$2.07B	$2.11B	$2.11B	$2.08B	$2.08B	$2.19B	$2.21B	$2.23B	$2.28B	$2.31B
Goodwill & intangible assets	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M	$793.0M
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$195.0M	$191.0M	$189.0M	$206.0M	$207.0M	$187.0M	$180.0M	$284.0M	$280.0M	$281.0M	$279.0M	$180.0M
Total assets	$5.16B	$4.96B	$5.07B	$4.99B	$4.81B	$4.88B	$4.87B	$4.98B	$4.95B	$5.22B	$5.46B	$5.24B
Liabilities
Accounts payable	$676.0M	$557.0M	$465.0M	$781.0M	$567.0M	$452.0M	$338.0M	$510.0M	$411.0M	$403.0M	$380.0M	$627.0M
Short-term debt	$447.0M	$206.0M	$475.0M	$193.0M	$194.0M	$201.0M	$192.0M	$502.0M	$499.0M	$186.0M	$181.0M	$192.0M
Deferred revenue	—	$200.0M	$223.0M	$182.0M	$172.0M	$177.0M	$197.0M	$170.0M	$166.0M	$178.0M	$198.0M	$163.0M
Total current liabilities	$1.71B	$1.38B	$1.59B	$1.55B	$1.30B	$1.29B	$1.23B	$1.57B	$1.50B	$1.22B	$1.29B	$1.41B
Long-term debt	$3.37B	$3.61B	$3.61B	$3.89B	$3.89B	$3.89B	$3.88B	$3.88B	$3.88B	$4.28B	$4.39B	$4.50B
Lease obligations	$1.13B	$1.10B	$1.06B	$1.09B	$1.11B	$1.10B	$1.07B	$1.16B	$1.17B	$1.18B	$1.19B	$1.21B
Other long-term liabilities	$1.14B	$1.10B	$1.15B	$1.14B	$1.17B	$1.15B	$1.14B	$1.27B	$1.29B	$1.39B	$1.41B	$1.46B
Total liabilities	$6.21B	$6.09B	$6.35B	$6.58B	$6.36B	$6.33B	$6.25B	$6.73B	$6.67B	$6.90B	$7.09B	$7.37B
Shareholders' equity
Common stock & paid-in capital	$108.0M	$108.0M	$108.0M	$109.0M	$111.0M	$113.0M	$115.0M	$115.0M	$117.0M	$119.0M	$120.0M	$120.0M
Retained earnings (deficit)	−$1.21B	−$1.29B	−$1.44B	−$1.75B	−$1.72B	−$1.63B	−$1.58B	−$1.94B	−$1.92B	−$1.89B	−$1.84B	−$2.33B
Accumulated other comprehensive income	$73.0M	$74.0M	$74.0M	$73.0M	$73.0M	$73.0M	$71.0M	$73.0M	$74.0M	$74.0M	$75.0M	$75.0M
Minority interest	$2.0M	$2.0M	$2.0M	$1.0M	$1.0M	—	—	—	—	—	—	—
Total shareholders' equity	−$1.05B	−$1.13B	−$1.28B	−$1.59B	−$1.55B	−$1.45B	−$1.39B	−$1.75B	−$1.72B	−$1.68B	−$1.63B	−$2.12B
Key figures
Total debt	$4.74B	$4.71B	$4.95B	$4.98B	$4.99B	$4.98B	$4.96B	$5.35B	$5.36B	$5.46B	$5.57B	$5.71B
Net cash (debt)	−$3.95B	−$3.89B	−$4.00B	−$4.74B	−$4.63B	−$4.35B	−$4.29B	−$5.16B	−$4.85B	−$4.60B	−$4.49B	−$5.30B
Working capital	$343.0M	$522.0M	$428.0M	$328.0M	$403.0M	$526.0M	$592.0M	$145.0M	$169.0M	$696.0M	$826.0M	$550.0M
Tangible book value	−$1.85B	−$1.93B	−$2.07B	−$2.38B	−$2.34B	−$2.24B	−$2.18B	−$2.54B	−$2.51B	−$2.47B	−$2.42B	−$2.92B
Book value per share	−$5.22	−$5.61	−$6.04	−$7.52	−$7.32	−$6.75	−$6.38	−$7.99	−$7.71	−$7.42	−$7.17	−$9.32
Shares outstanding	202.0M	202.0M	211.6M	211.6M	211.6M	215.0M	217.0M	219.0M	223.0M	226.0M	227.0M	228.0M
Current ratio	1.20	1.38	1.27	1.21	1.31	1.41	1.48	1.09	1.11	1.57	1.64	1.39
Quick ratio	0.56	0.67	0.71	0.26	0.38	0.57	0.71	0.25	0.44	0.80	1.01	0.43
Equity / assets	−20.4%	−22.8%	−25.2%	−31.9%	−32.2%	−29.7%	−28.4%	−35.1%	−34.7%	−32.1%	−29.8%	−40.5%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.

BBWI financial position

At the end of fiscal 2026 (January 31, 2026), Bath & Body Works had total assets of $5.1 billion (up 4.0% from a year earlier), total liabilities of $6.3 billion and shareholders' equity of -$1.3 billion. It held $953.0 million in cash and short-term investments against $5.0 billion of debt, net debt of $4.0 billion. Its current ratio was 1.27. In the latest quarter (ended July 31, 2026) total assets were $5.2 billion and equity -$1.1 billion.

Related: BBWI income statement, BBWI cash flow statement, BBWI key metrics. See the BBWI stock overview for the latest quote and news.

BBWI balance sheet FAQ

What are Bath & Body Works's total assets?

Bath & Body Works reported total assets of $5.1 billion at the end of fiscal 2026 (January 31, 2026), compared with $4.9 billion a year earlier.

How much debt does Bath & Body Works have?

Bath & Body Works had $5.0 billion of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.

How much cash does Bath & Body Works have?

Bath & Body Works held $953.0 million in cash and short-term investments at the end of fiscal 2026; with $5.0 billion of debt that is net debt of $4.0 billion.

What is Bath & Body Works's book value?

Bath & Body Works's shareholders' equity (book value) was -$1.3 billion at the end of fiscal 2026, or −$6.04 per share.

What is Bath & Body Works's current ratio?

Bath & Body Works had current assets of $2.0 billion and current liabilities of $1.6 billion, a current ratio of 1.27 (it can cover its short-term obligations).

How much goodwill does Bath & Body Works have?

Bath & Body Works carried $793.0 million of goodwill and intangible assets, 15.6% of total assets, at the end of fiscal 2026.