best-buy-financials

Best Buy Financials

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Best Buy generated $46.3 billion in revenue in 2023 and $1.42 billion in net profits compared to $51.76 billion in revenue in 2022, and $2.45 billion in profits, $47.26 billion in revenue, and $1.8 billion in profits in 2021, and $43.64 billion in revenue and $1.54 billion in profits.

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Best Buy Business Model

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While from a superficial look at its revenue streams, Best Buy seems the same company it was in 2012. In reality, in the last decade, Best Buy has undergone a massive business model transformation. Due to a shift in consumers behaviors driven by phenomena like “showrooming” (the practice of choosing a tech gadget in a physical store like Best Buy, only to finalize the purchase on an online store like Amazon), Best Buy had to respond by matching prices of online competitors. By redefining its offerings, like the vendor experiences or the “stores-within-stores” services. And broader support to customers throughout Best Buy stores and directly to the consumers’ homes.

Best Buy Revenue

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Best Buy generated $46.3 billion in revenue in 2023, $51.76 billion in revenue in 2022, $47.26 billion in 2021, and $43.64 billion in 2020.

Best Buy Profits

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Costco generated $6.29 billion in profits in 2023, compared to $5.84 billion in net income in 2022, $5 billion in 2021 and $5 billion in 2020.

Best Buy Free Cash Flow

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Best Buy generated $2.5 billion in free cash flow in 2022, compared to $4.21 billion in 2021 and $1.82 billion in 2020.

Best Buy Revenue Breakdown

Best Buy Revenue Breakdown
In 2023, Best Buy generated $42.79 billion from domestic and $3.5 billion from international segments. Compared to $51.76 billion in revenue in 2022, where Best Buy generated $47,8 billion from the domestic segment and $3.93 billion from the international segment.

Best Buy Revenue By Product

Revenue By Product Category
In 2023, Best Buy generated most of its revenue from computing and mobile phones ($19.76 billion), followed by consumer electronics ($14.09 billion), appliances ($6.73 billion), entertainment (3.05 billion), services ($2.33 billion).

Best Buy Stores

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In 2023, Best Buy had about a thousand stores: 925 Best Buy stores, 19 Outlet Centers, 20 Pacific Sales stores, and 14 Yardbird stores.

Best Buy Employees

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Best Buy had 90,000 employees in 2023, compared to 105,000 employees in 2022 and 102,000 employees in 2021.

Best Buy Revenue per Employee

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Best Buy generated $514,422 per employee in 2023, compared to $492,962 in 2022, and $463,353 in 2021.

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