Best Buy reported net earnings of approximately $1.0 billion for fiscal year 2024, down from $1.4 billion the prior year as revenue declined and gross margin pressure from promotional pricing intensified. Despite the drop, the company maintained a net profit margin above 2%, which is consistent with its historical range as a high-volume electronics retailer.
Annual Earnings Of Best Buy
| Fiscal Year |
Net Income (USD) |
YoY Change |
| FY2015 | $1.2B | — |
| FY2016 | $0.9B | −25.0% |
| FY2017 | $1.2B | +33.3% |
| FY2018 | $1.0B | −16.7% |
| FY2019 | $1.5B | +50.0% |
| FY2020 | $1.5B | Flat |
| FY2021 | $1.8B | +20.0% |
| FY2022 | $2.5B | +38.9% |
| FY2023 | $1.4B | −44.0% |
| FY2024 | $1.0B | −28.6% |
Best Buy P/E Ratio
| Fiscal Year |
P/E Ratio |
YoY Change |
| FY2015 | 12.6x | — |
| FY2016 | 12.4x | −1.6% |
| FY2017 | 15.2x | +22.6% |
| FY2018 | 18.4x | +21.1% |
| FY2019 | 13.7x | −25.5% |
| FY2020 | 15.9x | +16.1% |
| FY2021 | 16.8x | +5.7% |
| FY2022 | 12.1x | −27.9% |
| FY2023 | 11.0x | −9.1% |
| FY2024 | 14.0x | +27.3% |
