Buckle (BKE) AI Stock Analysis

• Market Cap: $2.74B
• Dividend Yield: 6.82%
• Average Volume (3M): 459.81K
• Price to Earnings (P/E): 13.2
• Beta (1Y): 0.77
• Revenue Growth: 4.67%
• EPS Growth: 3.46%
• Country: US
• Employees: 2,800
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Retail
• EPS (TTM): 0.96
• Shares Outstanding: 51,156,628
• 10 Day Avg. Volume: 310,686
• 30 Day Avg. Volume: 459,814
• PEG Ratio: -1.04
• Price to Book (P/B): 5.61
• Price to Sales (P/S): 1.95
• P/FCF Ratio: 11.90
• Enterprise Value/Market Cap: 1.03
• Enterprise Value/Revenue: 2.20
• Enterprise Value/Gross Profit: 4.50
• Enterprise Value/Ebitda: 9.88
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 4.1
• Revenue Forecast (FY): $1.33B

• Rating: 79 Outperform
• Price Target: $61.00 ▲(15.18% Upside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

The score is driven primarily by strong profitability and cash generation, supported by a favorable valuation (moderate P/E and high dividend yield). Technicals are constructive with the stock trading above major moving averages, though momentum looks somewhat extended. The latest earnings call was broadly positive on sales and margin trends, with some merchandising/traffic mix cautions and no formal guidance.

Positive Factors

Cash generation

Consistently strong cash generation (TTM OCF ~$260M, FCF ~$215M, FCF ≈83% of net income) provides durable flexibility to fund dividends, special payouts, inventory and reinvestment. Reliable cash conversion supports shareholder returns and cushions against cyclical retail volatility.

High margins & profitability

Elevated gross (~49%) and net (~16%) margins, plus exceptionally high ROE (~44% TTM), reflect strong product assortment, pricing power and operating leverage. These structural profitability advantages support long-term cash flow generation and competitive resilience in apparel retail.

Shareholder returns & liquidity

A large special cash dividend plus regular quarterly payouts, combined with substantial cash/investments (~$371M reported), show a durable capital-return policy and ample liquidity. This demonstrates management's capacity to allocate excess capital to shareholders while maintaining operational funding.

Negative Factors

Margin compression

A sustained decline in margins versus prior years erodes earnings power and reduces the cushion for cost inflation or promotional activity. If merchandise margin pressure persists, it can constrain free cash flow and limit flexibility for reinvestment or maintaining dividend levels over time.

Choppy revenue & FCF trends

Irregular annual revenue and free-cash-flow trends (notable declines in some years) reduce predictability of operating performance. For a retail model tied to seasonal demand, inconsistent top-line and FCF trajectories increase planning risk for inventory, staffing and capital allocation over the medium term.

Leadership turnover in stores/sales

The departure of two long-tenured leaders responsible for store operations and sales removes institutional knowledge critical to in-store execution and culture. Transition risk could affect merchandising, training and comp performance, with potential medium-term impacts on comparable-store trends and customer experience.

Buckle Business Overview & Revenue Model

Company Description

The Buckle, Inc. operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Reclaim, BKE Vintage, Nova Industries, J.B. Holt, and Veece. The company also provides services, such as hemming, gift-packaging, layaways, guest loyalty program, the Buckle private label credit card, and personalized stylist services, as well as special order system that allows stores to obtain requested merchandise from other company stores or its online order fulfillment center. As of March 11, 2022, it operated 440 retail stores in 42 states under the Buckle and The Buckle names. The Buckle, Inc. also sells its products through its website, buckle.com. The company was formerly known as Mills Clothing, Inc. and changed its name to The Buckle, Inc. in April 1991. The Buckle, Inc. was incorporated in 1948 and is headquartered in Kearney, Nebraska.

How the Company Makes Money

Buckle generates revenue primarily through the sale of clothing, accessories, and footwear in its retail stores and online. The company's revenue model is based on direct-to-consumer sales, with key revenue streams coming from both in-store transactions and e-commerce sales. Buckle also benefits from its loyalty program, which encourages repeat purchases by offering rewards and incentives to customers. Additionally, the company may engage in partnerships with various brands for exclusive product lines, driving sales and enhancing its market position. Seasonal promotions and marketing campaigns further contribute to increased foot traffic and online engagement, boosting overall sales performance.

Buckle Financial Statement Overview

Summary

Strong profitability (~49% gross margin, ~16% net margin) and healthy cash generation (TTM FCF ~$215M; ~83% of net income). Offsetting this are multi-year margin compression and uneven annual revenue/free-cash-flow trends despite modest TTM revenue growth (+2.18%).

Income Statement

TTM (Trailing-Twelve-Months) revenue is up modestly (+2.18%), and profitability remains strong for retail with ~49% gross margin and ~16% net margin. However, margins have compressed versus prior years (net margin down from ~19.7% in 2022 and ~18.9% in 2023), and the annual revenue trend has been choppy with declines in 2024 and 2025 (annual) despite the recent TTM stabilization.

Balance Sheet

Leverage looks manageable with debt at ~0.73x equity in TTM (Trailing-Twelve-Months), improving from higher levels earlier (near ~0.92x in 2022). Returns on equity are exceptionally high (TTM ~44%), signaling strong profitability, but also reflect a relatively modest equity base versus earnings, which can amplify volatility if operating performance weakens.

Cash Flow

Cash generation is solid: TTM (Trailing-Twelve-Months) operating cash flow is ~$260M and free cash flow is ~$215M, with positive TTM free-cash-flow growth (+2.27%). Cash flow tracks earnings reasonably well (free cash flow is ~83% of net income in TTM), though annual free cash flow growth has been uneven (notably down in 2023 and 2025 annual), pointing to some variability in cash conversion year to year.

Breakdown	TTM	Jan 2025	Jan 2024	Jan 2023	Jan 2022	Jan 2021
Income Statement
Total Revenue	1.28B	1.22B	1.26B	1.35B	1.29B	901.28M
Gross Profit	625.38M	592.79M	619.07M	676.00M	653.01M	400.67M
EBITDA	284.86M	263.50M	291.89M	346.99M	354.19M	188.88M
Net Income	206.10M	195.47M	219.92M	254.63M	254.82M	130.14M
Balance Sheet
Total Assets	1.08B	913.17M	889.81M	837.58M	780.88M	845.81M
Cash, Cash Equivalents and Short-Term Investments	340.14M	290.73M	290.42M	273.07M	266.90M	322.15M
Total Debt	374.90M	326.26M	315.41M	303.79M	288.34M	306.27M
Total Liabilities	567.64M	489.37M	476.59M	461.26M	467.96M	449.19M
Stockholders Equity	510.73M	423.80M	413.22M	376.31M	312.92M	396.63M
Cash Flow
Free Cash Flow	215.31M	199.74M	217.37M	212.02M	292.65M	219.76M
Operating Cash Flow	259.63M	242.01M	254.64M	242.38M	311.75M	227.42M
Investing Cash Flow	-47.02M	-45.28M	-41.77M	-41.40M	-28.77M	-768.00K
Financing Cash Flow	-198.42M	-198.02M	-196.74M	-202.88M	-347.80M	-128.83M

Buckle Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 52.96
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BKE, the sentiment is Positive. The current price of 52.96 is above the 20-day moving average (MA) of 51.29, above the 50-day MA of 51.77, and above the 200-day MA of 49.28, indicating a bullish trend. The MACD of 0.66 indicates Negative momentum. The RSI at 58.59 is Neutral, neither overbought nor oversold. The STOCH value of 59.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BKE.

Buckle Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BKE	79 Outperform	$2.74B	13.16	41.26%	6.82%	4.67%	3.46%
ANF	74 Outperform	$4.36B	9.20	40.72%	―	7.57%	1.75%
AEO	74 Outperform	$4.03B	20.51	12.36%	2.09%	-1.15%	-0.98%
SCVL	71 Outperform	$575.15M	9.99	8.78%	3.12%	-6.22%	-22.81%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
TLYS	48 Neutral	$42.05M	-1.25	-34.77%	―	-8.31%	36.10%

Buckle Corporate Events

Buckle Announces Key Executive Retirements and Leadership Changes

On January 23, 2026, The Buckle, Inc. announced that Executive Vice President of Stores Kari G. Smith and Senior Vice President of Sales Michelle M. Hoffman would retire from their roles effective February 13, 2026. The retirements mark leadership changes across store operations and sales management at the apparel retailer, potentially impacting how the company executes its in-store strategy and sales initiatives.

Following their final day of employment, Hoffman and Smith entered into separation agreements on February 16 and February 18, 2026, respectively, which set out their departure terms. Each executive is to receive a one-time cash payment equal to 26 weeks of their most recent annual base salary, plus a separate $20,000 cash payment intended to offset healthcare continuation costs under COBRA.

The most recent analyst rating on (BKE) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on Buckle stock, see the BKE Stock Forecast page.

Buckle Sets 2026 Executive Pay and Incentive Plan

On January 28, 2026, Buckle’s board compensation committee approved the executive compensation program for fiscal 2026, maintaining the same core structure as in 2025 with competitive base salaries, performance-linked cash bonuses, standard benefits, and grants of restricted stock for its president and CEO, CFO, and other named executive officers; executive vice president of stores Kari G. Smith and senior vice president of sales Michelle M. Hoffman, who will retire effective February 13, 2026, were excluded from the new program. The committee set 2026 base salaries at $1.34 million for CEO Dennis H. Nelson, $665,000 for CFO Thomas B. Heacock, and $700,000 for senior vice president of leasing Brett P. Milkie, while also adopting a one‑year 2026 Management Incentive Plan that ties bonus-pool funding to pre‑bonus net income and allocates approximately 37% of pool points to the CEO, and approving substantial performance- and time-based restricted stock awards that vest over four years based on aggressive profitability and net‑income targets, reinforcing pay-for-performance alignment and retention for top management while closely linking executive rewards to shareholder value creation.

The most recent analyst rating on (BKE) stock is a Buy with a $64.00 price target. To see the full list of analyst forecasts on Buckle stock, see the BKE Stock Forecast page.

Buckle Announces Retirement of Longtime Store and Sales Leaders

On January 23, 2026, The Buckle, Inc. announced that longtime executives Kari G. Smith, Executive Vice President of Stores and board director, and Michelle M. Hoffman, Senior Vice President of Sales, will retire effective February 13, 2026, ending respective 47-year and 46-year tenures with the company. The departures, which are not due to any disagreements over operations, policies, or practices, mark the exit of two leaders credited with shaping Buckle’s in-store experience, sales culture, and leadership development, signaling a significant leadership transition for the retailer’s store and sales organization while preserving continuity in its established retail model and brand positioning.

The most recent analyst rating on (BKE) stock is a Buy with a $64.00 price target. To see the full list of analyst forecasts on Buckle stock, see the BKE Stock Forecast page.

Buckle Announces Special Cash Dividend and New VP

On December 9, 2025, The Buckle, Inc. announced a special cash dividend of $3.00 per share and a quarterly dividend of $0.35 per share, both payable on January 29, 2026, to shareholders of record as of January 15, 2026. Additionally, the company appointed Ashley L. Andreas as Vice President of Human Resources, bringing significant retail and human resources experience to the team, which is expected to enhance the teammate experience for over 8,000 employees across the U.S.

The most recent analyst rating on (BKE) stock is a Buy with a $62.00 price target. To see the full list of analyst forecasts on Buckle stock, see the BKE Stock Forecast page.