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Discount stores · Consumer Defensive · Fiscal year ends Jan 30
Ollie's Bargain Outlet reported revenue of $2.6B in the fiscal year ended Jan 2026, up 16.6% from the year before. Operating income was $298M, an operating margin of 11.2%, and net income was $241M. Operating cash flow of $297M less capital expenditure of $102M left free cash flow of $195M. It held more cash than debt (net cash $259M).
Ranks among the 10 discount stores companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 1,753 | 1,827 | 2,103 | 2,272 | 2,649 |
| Cost of revenue | 1,072 | 1,171 | 1,270 | 1,357 | 1,576 |
| Gross profit | 681 | 656 | 832 | 914 | 1,073 |
| Selling, general & admin | 448 | 491 | 563 | 612 | 709 |
| Operating income | 205 | 131 | 228 | 250 | 298 |
| Pre-tax income | 204 | 134 | 242 | 266 | 316 |
| Income tax | 46.9 | 31.1 | 61.0 | 66.1 | 75.8 |
| Net income | 157 | 103 | 181 | 200 | 241 |
| Diluted EPS | 2.43 | 1.64 | 2.92 | 3.23 | 3.89 |
| Diluted shares | 64.9 | 62.7 | 62.1 | 61.8 | 61.8 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 247 | 211 | 266 | 205 | 260 |
| Receivables | 1.4 | 2.4 | 2.2 | 2.4 | 3.8 |
| Inventory | 467 | 471 | 506 | 553 | 650 |
| Current assets | 727 | 754 | 871 | 994 | 964 |
| Net PP&E | 147 | 176 | 270 | 335 | 382 |
| Goodwill | 445 | 445 | 445 | 445 | 445 |
| Total assets | 1,972 | 2,044 | 2,295 | 2,561 | 2,955 |
| Payables | 107 | 90.2 | 128 | 130 | 169 |
| Deferred revenue | 10.1 | 10.7 | 12.8 | 16.0 | 16.6 |
| Current liabilities | 263 | 259 | 316 | 304 | 400 |
| Long-term debt | 0.7 | 0.9 | 1.0 | 1.0 | 1.0 |
| Total liabilities | 684 | 682 | 786 | 866 | 1,067 |
| Shareholders' equity | 1,288 | 1,362 | 1,508 | 1,695 | 1,888 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 45.0 | 114 | 254 | 227 | 297 |
| Capital expenditure | 35.0 | 51.7 | 124 | 121 | 102 |
| Free cash flow | 10.0 | 62.7 | 130 | 107 | 195 |
| Depreciation & amortisation | 24.9 | 28.7 | 34.9 | 44.0 | 55.2 |
| Stock-based compensation | 8.0 | 10.0 | 12.2 | 19.4 | 13.1 |
| Share buybacks | 220 | 41.8 | 52.5 | 53.0 | 73.8 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.2% | 15.1% | 8.0% | 16.6% |
| Operating income growth (YoY) | – | −36.0% | 74.0% | 9.5% | 19.3% |
| EPS growth (YoY) | – | −32.5% | 78.0% | 10.6% | 20.4% |
| Gross margin | 38.9% | 35.9% | 39.6% | 40.3% | 40.5% |
| Operating margin | 11.7% | 7.2% | 10.8% | 11.0% | 11.2% |
| Net margin | 9.0% | 5.6% | 8.6% | 8.8% | 9.1% |
| Return on equityBlank when equity is negative | 12.2% | 7.5% | 12.0% | 11.8% | 12.7% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.0% | 7.3% | 11.5% | 11.1% | 11.7% |
| Free cash flow margin | 0.6% | 3.4% | 6.2% | 4.7% | 7.3% |
| Cash conversion (CFO ÷ net income) | 0.29x | 1.11x | 1.40x | 1.14x | 1.23x |
| Receivable days | 0 | 0 | 0 | 0 | 1 |
| Inventory days | 159 | 147 | 145 | 149 | 151 |
| Payable days | 36 | 28 | 37 | 35 | 39 |
| Debt ÷ equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −246 | −210 | −265 | −204 | −259 |
| Current ratio | 2.76x | 2.91x | 2.76x | 3.27x | 2.41x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.