At a glance
Ollie's Bargain Outlet Hldg is worth $5.12B, about 22 times its fiscal 2026 earnings. Revenue grew 16.6% to $2.65B in fiscal 2026, with 9.1% kept as profit; over 5 years it has grown 7.9% a year. It pays no dividend; it spent $441.2M buying back its shares over FY2022–FY2026. The stock returned −30.7% over the past year with dividends reinvested and +4.7% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 40.0% in the 2020 crash (S&P 500: 33.7%) and 27.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 1 month and 10 months after the lows.
The business in plain English
Ollie's Bargain Outlet is an off-price retailer: it sells brand-name household products at prices up to 70% below traditional retailers, under the motto "Good Stuff Cheap." It opened its first store in Mechanicsburg, Pennsylvania, in 1982. It buys closeouts (discontinued, overstocked or excess goods) from manufacturers, wholesalers, distributors, brokers and other retailers. Because it buys whatever deals appear, its shelves change constantly. This "treasure hunt" is meant to bring shoppers back often.
Ollie's earns its profit on the gap between low purchase costs and discounted selling prices. It keeps expenses down with no-frills, warehouse-style stores that average about 32,000 square feet and are mostly leased. It reports a single business segment. In the fiscal year ended January 31, 2026, consumables such as food, cleaning supplies and health and beauty aids made up 31.9% of net sales. Home goods were 28.3%, seasonal items like patio furniture and holiday décor 19.1%, and other goods such as books, electronics and clothing 20.7%.
Ollie's sells only in physical stores, with no online shop. On January 31, 2026, it ran 645 stores in 34 states, after opening 86 that fiscal year. It has added some stores by buying former locations of bankrupt retailers at auction. It believes it can grow to more than 1,300 US stores. Revenue for the year was about $2.65 billion.
Price history
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OLLI -30.7% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2027 (ended Aug 1, 2026), revenue was $741.3M, up 9.1% from a year earlier, and net income was $85.5M (+39.4%).
- For fiscal 2026, revenue was $2.65B (+16.6% year over year; +7.9% a year from FY2021 to FY2026) with a 9.1% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +7.9% good |
|---|---|
| Operating margin | 11.2% watch |
| Free cash flow margin | 7.3% watch |
| Return on equity (FY2026) | 12.7% watch |
| Return on assets (FY2026) | 8.1% good |
| Net cash (cash minus debt) | $118.5M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.81B | $242.7M | $330.7M |
| FY2022 | $1.75B | $157.5M | $10.0M |
| FY2023 | $1.83B | $102.8M | $62.7M |
| FY2024 | $2.10B | $181.4M | $130.1M |
| FY2025 | $2.27B | $199.8M | $106.9M |
| FY2026 | $2.65B | $240.6M | $194.7M |
Valuation snapshot
| Market value | $5.12B |
|---|---|
| P/E ratio | 22.2 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Ollie's Bargain Outlet Hldg’s market value went from $1.72B at the end of 2016 to $5.12B on Oct 28, 2026, about 3.0 times as much; since the end of 2025 it is down 24%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $5.12B | -23.8% |
| 2025 | $6.72B | -0.0% |
| 2024 | $6.72B | +43.9% |
| 2023 | $4.67B | +60.3% |
| 2022 | $2.92B | -9.8% |
| 2021 | $3.23B | -39.6% |
| 2020 | $5.35B | +28.7% |
| 2019 | $4.16B | -0.6% |
| 2018 | $4.18B | +27.4% |
| 2017 | $3.28B | +90.4% |
| 2016 | $1.72B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| OLLI price data to Oct 28, 2026 | -21.3% | -30.7% | +4.6% | +4.7% | +12.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -21.3% |
| 2025 | -0.1% |
| 2024 | +44.6% |
| 2023 | +62.0% |
| 2022 | -8.5% |
| 2021 | -37.4% |
| 2020 | +25.2% |
| 2019 | -1.8% |
| 2018 | +24.9% |
| 2017 | +87.2% |
| 2016 | +67.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 27.7% over that stretch · deepest drop along the way 40%, back to its old high 1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 4% over that stretch · deepest drop along the way 27.7%, back to its old high 9.6 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 3 sales ($1.1M), 3 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 31, 2026 | John W Swygert Executive Chairman, Director | sell (plan) | $482K |
| Mar 27, 2026 | John W Swygert Executive Chairman, Director | sell (plan) | $348K |
| Apr 7, 2026 | John W Swygert Executive Chairman, Director | sell (plan) | $319K |
Who owns it
Large shareholders (13G filings)
| FMR LLC | 14.5% | Jun 30, 2026 |
| Wasatch Advisors LP | 8.6% | Sep 30, 2026 |
| Vanguard Capital Management | 5.28% | Mar 31, 2026 |
| Kayne Anderson Rudnick Investment Management, LLC | 1.6% | Jun 30, 2026 |
ETFs with the most weight in OLLI
| RSMC Rockefeller U.S. Small-Mid Cap ETF | 3.59% |
| CSMD Congress SMid Growth ETF | 2.65% |
| BOUT Innovator IBD Breakout Opportunities ETF | 2.39% |
| XRT SPDR S&P Retail ETF | 1.49% |
| GSC Goldman Sachs Small Cap Core Equity ETF | 1.38% |
| TAX Cambria Tax Aware ETF | 1.24% |
| MMSC First Trust Multi-Manager Small Cap Opportunities ETF | 0.93% |
| JHSC John Hancock Multifactor Small Cap ETF | 0.48% |
What could go wrong
- Depends on finding closeout deals. Ollie's model relies on buying leftover and excess goods cheaply as opportunities appear. If suppliers offer fewer bargains, or buyers misjudge what shoppers want, stores could end up with the wrong goods and weaker sales.
- No online shopping option. Ollie's sells only through physical stores. Without online ordering, it may struggle to win and keep customers, including Ollie's Army loyalty members, who could shift to other stores or to web and mobile shopping.
- Growth hinges on new store sites. Ollie's growth rests heavily on new stores. It believes it can exceed 1,300 US locations, up from 645 on January 31, 2026. Too few suitable sites or acceptable leases could slow expansion.
- Distribution center or supply chain disruption. Goods reach stores through Ollie's distribution centers and outside shipping carriers. Losing a distribution center, or a broader supply chain breakdown, could leave stores short of merchandise and hurt sales.
- Tariffs and trade policy shifts. Ollie's buys from suppliers around the world and sells some private-label goods it imports directly. New tariffs, taxes or trade sanctions on imports could raise costs in ways that are hard to predict.
- Sales can swing with shoppers' budgets. Comparable store sales (sales at established stores) have gone up and down before, including from quarter to quarter. Inflation, weaker consumer confidence and higher transport or rent costs could squeeze sales and profits.
Recent events
- Other company announcement
- Quarterly results released
- Shareholder vote results
- Quarterly results released
- Executive or board change; Other company announcement
- Quarterly results released
- Quarterly results released
For income and retirement investors
Ollie's does not pay a dividend and paid none in the five fiscal years through January 31, 2026. An income investor would get no regular cash from the shares. The only way to raise spending money from the holding would be to cash in some shares. Instead of dividends, Ollie's returns cash through buybacks (repurchasing its own shares). It spent about $441 million on buybacks over those five years. Shares outstanding fell 5.9%, from about 63.1 million on December 2, 2021 to about 59.4 million on August 26, 2026.
The share price has been volatile, and its price record does not reach back to the 2008 crisis. In the 2020 COVID crash it fell 40% between February 21 and March 18, 2020, but recovered within about a month. In 2022 it dropped 27.7% from July 8 to September 29 and took about 9.6 months to recover. As of October 28, 2026, it was down 30.7% over one year. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Ollie's Bargain Outlet make money?
Ollie's buys brand-name goods cheaply and resells them at a markup, while keeping prices up to 70% below traditional retailers. It buys closeouts and excess inventory from manufacturers, wholesalers, distributors and other retailers. In the fiscal year ended January 31, 2026, revenue was about $2.65 billion. Its gross margin, the share of sales left after paying for the goods, was 40.5%. Net income was about $240.6 million.
Does Ollie's pay a dividend?
No. Ollie's paid no dividends in the five fiscal years through January 31, 2026. It uses buybacks instead. Over that span it spent about $441 million repurchasing its own shares, including about $73.8 million in the fiscal year ended January 31, 2026. An investor looking for regular income from this stock would receive none and would have to cash in shares to raise money.
How many stores does Ollie's have, and does it sell online?
Ollie's operated 645 stores in 34 states on January 31, 2026, up from 559 a year earlier. It opened 86 stores and closed none that fiscal year. The company believes it can eventually run more than 1,300 US stores. All of its sales come through physical stores. Ollie's has no online shopping option, and its annual report lists this as a risk.
How fast is Ollie's growing?
Revenue rose 16.6% to about $2.65 billion in the fiscal year ended January 31, 2026, and net income rose 20.4% to about $240.6 million. Over the five years to that date, revenue grew about 7.9% a year on average. Profit has been uneven, though. Net income fell to about $102.8 million in the fiscal year ended in early 2023 before recovering. In the quarter ended August 1, 2026, revenue rose 9.1% and net income 39.4% from a year earlier.
Does Ollie's have a lot of debt?
No, it has very little. As of August 1, 2026, Ollie's reported total debt of about $2.2 million against cash and investments of about $120.8 million, leaving net cash of about $118.5 million. Shareholders' equity was about $1.9 billion. However, most of its stores are leased, so rent is an ongoing commitment. Its annual report lists occupancy costs among the outside pressures that could reduce profits.