The Buckle Inc. (BKE)
NYSE:BKE
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Buckle
(NYSE:BKE)
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Rating:68Neutral
Price Target:
$49.00
▼(-10.29% Downside)
Action:Downgraded
Date:06/12/26
The score is driven primarily by strong underlying profitability and cash flow, plus attractive valuation (low P/E and high dividend yield). Offsetting these positives are weak technicals (price below major moving averages with negative momentum) and earnings-call risks around margin pressure, rising inventory, and cost headwinds, even though recent sales and earnings growth were solid.
Positive Factors
High margins and strong profitability
Sustained high gross and net margins for a specialty apparel retailer indicate durable pricing power and effective merchandise sourcing. These margins support operating profitability through cycles, enabling reinvestment, dividends, and resilience to moderate sales volatility over the next several quarters.
Negative Factors
Rising leverage limits financial flexibility
Meaningful leverage relative to equity reduces the company’s cushion against sales downturns and increases interest and refinancing sensitivity. Higher debt constrains agility for opportunistic investments or aggressive buybacks and elevates risk if margins compress or cash flow weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
High margins and strong profitability
Sustained high gross and net margins for a specialty apparel retailer indicate durable pricing power and effective merchandise sourcing. These margins support operating profitability through cycles, enabling reinvestment, dividends, and resilience to moderate sales volatility over the next several quarters.
Read all positive factors
Buckle (BKE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.27B
Dividend Yield6.82%
Average Volume (3M)474.91K
Price to Earnings (P/E)10.1
Beta (1Y)0.76
Revenue Growth7.10%
EPS Growth12.26%
CountryUS
Employees2,800
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)4.40
Shares Outstanding51,518,085
10 Day Avg. Volume466,855
30 Day Avg. Volume474,912
Financial Highlights & Ratios
PEG Ratio1.78
Price to Book (P/B)5.60
Price to Sales (P/S)1.83
P/FCF Ratio11.55
Enterprise Value/Market Cap1.07
Enterprise Value/Revenue1.84
Enterprise Value/Gross Profit3.77
Enterprise Value/Ebitda7.48
Forecast
1Y Price Target
$47.00Price Target Upside-13.95% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)4.21
Revenue Forecast (FY)$1.35B
Buckle Business Overview & Revenue Model
Company Description
The Buckle, Inc. operates as a leading fashion retailer in the United States, offering a wide array of casual apparel, footwear, and complementary accessories primarily for young men and women. Their product assortment includes a selection of popu...
How the Company Makes Money
Buckle primarily makes money by selling merchandise to consumers at retail prices through two main channels: its network of brick-and-mortar stores and its online store. Revenue is generated from product sales across key categories such as denim, ...
Buckle Earnings Call Summary
Earnings Call Date:May 29, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 14, 2026
Earnings Call Sentiment Positive
The call presented solid top-line growth, meaningful improvements in net income and operating margin, strong category performances (notably women's and kids), and a healthy cash position and planned store growth. Offsetting these positives were margin pressures from occupancy and buying/distribution, a notable increase in inventory, one-time impacts that masked rising SG&A ex-settlement, and cost headwinds from tariffs and fuel surcharges. Overall, the company appears fundamentally strong this quarter but faces several manageable cost and operating pressures to monitor going forward.Positive Updates
Material Net Income and EPS Growth
Net income for Q1 was $46.9M ($0.92 diluted EPS) versus $35.2M ($0.70) a year ago — an increase in net income of ~33.3% and EPS up ~31.4% year-over-year, reflecting strong profitability in the quarter.
Negative Updates
Gross Margin Contraction
Gross margin declined to 46.2% from 46.7% in prior-year Q1 — a 50 basis point decline. Management attributed this to a 10 basis point merchandise margin reduction and ~40 basis points from increased buying, distribution and occupancy expense.
Read all updates
Q1-2026 Updates
Positive
Negative
Material Net Income and EPS Growth
Net income for Q1 was $46.9M ($0.92 diluted EPS) versus $35.2M ($0.70) a year ago — an increase in net income of ~33.3% and EPS up ~31.4% year-over-year, reflecting strong profitability in the quarter.
Read all positive updates
Company Guidance
Buckle reiterated that it does not provide future sales or earnings guidance, but did give operational plans: it expects to open an additional 9 new stores and complete 7 more full remodels for the remainder of fiscal 2026 (year-to-date: 6 new stores, 7 full remodels, 2 closures), finishing Q1 with 442 stores in 42 states (vs. 439 a year ago). In Q1 the company reported net sales of $289.0M (+6.1% YoY), net income of $46.9M ($0.92 diluted vs. $35.2M/$0.70 prior), comparable store sales +5.1%, online sales $47.7M (+2.8%), UPTs down ~1%, average unit retail +4.5%, average transaction value +3.5%, gross margin 46.2% (down 50 bps), operating margin 20.6% (vs. 16%), SG&A 25.6% of sales (vs. 30.7% prior, influenced by a $19.1M interchange settlement = 660 bps; absent the settlement SG&A was up 150 bps driven by ~100 bps incentive/equity accruals, ~30 bps store comp and ~20 bps other), inventory $150M (+13.5%), cash & investments $324M, Q1 capex $14.7M (stores/remodels/tech $13.5M; HQ/DC $1.2M), depreciation $6.5M, and occupancy expense up ~66.6%.Buckle Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.31B | 1.30B | 1.22B | 1.26B | 1.35B | 1.29B |
| Gross Profit | 642.36M | 635.86M | 592.79M | 619.07M | 676.00M | 653.01M |
| EBITDA | 323.75M | 301.54M | 279.91M | 310.05M | 353.91M | 356.44M |
| Net Income | 221.43M | 209.74M | 195.47M | 219.92M | 254.63M | 254.82M |
Balance Sheet | ||||||
| Total Assets | 1.05B | 991.28M | 913.17M | 889.81M | 837.58M | 780.88M |
| Cash, Cash Equivalents and Short-Term Investments | 289.98M | 274.16M | 290.73M | 290.42M | 273.07M | 266.90M |
| Total Debt | 410.87M | 383.81M | 326.26M | 315.41M | 303.79M | 288.34M |
| Total Liabilities | 589.92M | 566.64M | 489.37M | 476.59M | 461.26M | 467.96M |
| Stockholders Equity | 458.87M | 424.64M | 423.80M | 413.22M | 376.31M | 312.92M |
Cash Flow | ||||||
| Free Cash Flow | 220.86M | 205.78M | 199.74M | 217.37M | 212.02M | 292.65M |
| Operating Cash Flow | 269.48M | 251.14M | 242.01M | 254.64M | 242.38M | 311.75M |
| Investing Cash Flow | -46.99M | -43.52M | -45.28M | -41.77M | -41.40M | -28.77M |
| Financing Cash Flow | -225.22M | -225.09M | -198.02M | -196.74M | -202.88M | -347.80M |
Buckle Technical Analysis
Negative
54.62
Price Trends
50.43
Negative
50.55
Negative
51.62
Negative
Market Momentum
-1.72
Negative
36.17
Neutral
52.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BKE, the sentiment is Negative. The current price of 54.62 is above the 20-day moving average (MA) of 46.05, above the 50-day MA of 50.43, and above the 200-day MA of 51.62, indicating a bearish trend. The MACD of -1.72 indicates Negative momentum. The RSI at 36.17 is Neutral, neither overbought nor oversold. The STOCH value of 52.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BKE.
Buckle Risk Analysis
Buckle disclosed 18 risk factors in its most recent earnings report. Buckle reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Buckle Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $4.05B | 8.11 | 36.89% | ― | 5.13% | 0.95% | |
68 Neutral | $2.27B | 10.10 | 47.36% | 6.82% | 7.10% | 12.26% | |
63 Neutral | $3.09B | 10.50 | 17.24% | 2.09% | 6.22% | 65.05% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $471.62M | 12.78 | 5.49% | 3.12% | -4.40% | -43.68% | |
58 Neutral | $155.49M | -42.50 | -3.98% | ― | 1.69% | 93.35% |
* Consumer Cyclical Sector Average
BKE
Buckle
44.20
2.91
7.03%
ANF
Abercrombie Fitch
89.06
13.22
17.43%
AEO
American Eagle
17.54
8.26
89.05%
SCVL
Shoe Carnival
17.37
-1.52
-8.04%
TLYS
Tilly's
4.59
3.40
285.71%
Buckle Corporate Events
Business Operations and StrategyDividendsShareholder Meetings
Buckle Announces Dividend and Confirms Governance Stability
Positive
Jun 2, 2026
The Buckle, Inc. held its Annual Meeting of Stockholders on June 1, 2026, where shareholders elected the full slate of director nominees and approved the ratification of Deloitte Touche LLP as the company’s independent auditor. Investors al...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Buckle Posts Strong Sales, Promotes Werth to Senior VP
Positive
Apr 9, 2026
On April 9, 2026, The Buckle, Inc. reported that comparable store net sales for the five-week period ended April 4, 2026 rose 7.0% year-on-year, with total net sales up 8.2% to $118.0 million, while year-to-date comparable sales for the nine-week ...
Dividends
Buckle Declares Quarterly Cash Dividend, Reinforcing Shareholder Returns
Positive
Mar 24, 2026
On March 23, 2026, The Buckle, Inc. board authorized a quarterly cash dividend of $0.35 per share, reaffirming its practice of returning capital to shareholders. The dividend will be paid on April 29, 2026, to investors of record as of the close o...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.