Boot Barn Holdings (BOOT)
NYSE:BOOT
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Boot Barn
(NYSE:BOOT)
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Rating:65Neutral
Price Target:
$183.00
▲(12.21% Upside)
Action:Reiterated
Date:05/15/26
The score is anchored by solid financial performance and a positive FY27 outlook (strong growth and EPS guidance). However, the stock’s technical setup is notably weak (trading below key moving averages with negative MACD), and valuation appears only moderate with no dividend yield provided to offset volatility.
Positive Factors
Consistent Multi‑Year Revenue Growth
Boot Barn has delivered sustained top‑line expansion driven by both new stores and comp growth, which supports scale economics across buying, distribution and marketing. Persistent same‑store strength indicates durable consumer demand and underpins predictable revenue growth and investment capacity over the next 2–6 months.
Negative Factors
Rising Leverage
Leverage has increased materially as Boot Barn funded aggressive expansion, raising debt to $773M. Higher leverage reduces financial flexibility for buybacks, opportunistic investment or buffering margin shocks, and increases interest expense sensitivity if cost of capital rises over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Multi‑Year Revenue Growth
Boot Barn has delivered sustained top‑line expansion driven by both new stores and comp growth, which supports scale economics across buying, distribution and marketing. Persistent same‑store strength indicates durable consumer demand and underpins predictable revenue growth and investment capacity over the next 2–6 months.
Read all positive factors
Boot Barn (BOOT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.16B
Dividend YieldN/A
Average Volume (3M)756.41K
Price to Earnings (P/E)22.9
Beta (1Y)1.59
Revenue Growth17.93%
EPS Growth24.95%
CountryUS
Employees3,100
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)7.41
Shares Outstanding30,347,473
10 Day Avg. Volume996,054
30 Day Avg. Volume756,410
Financial Highlights & Ratios
PEG Ratio0.81
Price to Book (P/B)3.45
Price to Sales (P/S)2.02
P/FCF Ratio36.03
Enterprise Value/Market Cap1.12
Enterprise Value/Revenue2.57
Enterprise Value/Gross Profit6.74
Enterprise Value/Ebitda15.32
Forecast
1Y Price Target
$228.00Price Target Upside39.80% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)8.5
Revenue Forecast (FY)$2.56B
Boot Barn Business Overview & Revenue Model
Company Description
Boot Barn Holdings, Inc., a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers ...
How the Company Makes Money
Boot Barn makes money primarily by selling western and work lifestyle merchandise directly to consumers through two main channels: (1) brick-and-mortar retail stores and (2) e-commerce. Revenue is largely driven by the sale of footwear (e.g., cowb...
Boot Barn Earnings Call Summary
Earnings Call Date:May 14, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call emphasized strong top-line growth, record revenue and EPS, successful new store expansion, accelerating e-commerce and meaningful progress on exclusive brands and margin expansion. Management provided constructive FY27 guidance with continued investments in stores, sourcing and distribution while acknowledging near-term margin headwinds from freight, occupancy and DC costs, tariff uncertainty and some category mix pressure. On balance, the positives (substantial sales and earnings growth, comp strength, brand and sourcing progress, and confident guidance) outweigh the identified near-term challenges.Positive Updates
Record Fiscal '26 Revenue and Earnings
Full-year revenue grew 18% to $2.25 billion and diluted EPS increased 25% to $7.35 (up $1.47 YoY), marking the company's highest sales and earnings on record.
Negative Updates
Q4 and Q1 Gross Profit Pressure
Q4 merchandise margin decreased 30 bps and gross profit declined 80 bps driven by a 50 bps deleverage in buying, occupancy and distribution center costs. Q1 guidance assumes a ~60 bps YoY merchandise margin decline and 120 bps of deleverage in buying/occupancy/DC costs.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Fiscal '26 Revenue and Earnings
Full-year revenue grew 18% to $2.25 billion and diluted EPS increased 25% to $7.35 (up $1.47 YoY), marking the company's highest sales and earnings on record.
Read all positive updates
Company Guidance
Boot Barn's fiscal 2027 high‑end guidance calls for $2.6 billion in sales (≈16% growth) with consolidated same‑store sales +4% (retail +3%, e‑commerce +13%), merchandise margin ~51.4% (+50 bps YoY), gross profit ~37.9% (‑20 bps), ~40 bps of SG&A leverage, operating income $353M (13.5% of sales, +20 bps), net income $265M and EPS $8.64 (+18%); capex $130M and an effective tax rate of 25.7%; exclusive brand penetration expected to reach ~41.3% (~+50 bps) toward a 50% long‑term target; planned store growth is 70 openings (25 in Q1, 45 thereafter), ~13% FY store growth and a 2‑year average of 15%; Q1 high‑end guide: $584M sales, same‑store +4%, merchandise margin ~51.5% (‑60 bps YoY, +120 bps on a 2‑yr stack), gross profit ~37.3%, buying/occupancy/DC deleverage ~120 bps, SG&A ~25.5%, operating income ~$69M (11.9% of sales) and EPS $1.71; freight is a Q1 headwind (noted +70 bps) but expected to improve ~10 bps for the full year, and guidance excludes a potential ~$18M tariff refund.Boot Barn Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
71
Positive
Cash Flow
68
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.25B | 1.91B | 1.67B | 1.66B | 1.49B |
| Gross Profit | 858.36M | 717.04M | 614.42M | 610.57M | 575.07M |
| EBITDA | 377.80M | 304.10M | 249.19M | 315.57M | 325.01M |
| Net Income | 225.88M | 180.94M | 147.00M | 170.55M | 192.45M |
Balance Sheet | |||||
| Total Assets | 2.67B | 2.02B | 1.71B | 1.52B | 1.20B |
| Cash, Cash Equivalents and Short-Term Investments | 141.04M | 69.77M | 75.85M | 18.19M | 20.67M |
| Total Debt | 773.48M | 563.04M | 466.76M | 447.72M | 306.25M |
| Total Liabilities | 1.35B | 886.96M | 761.95M | 740.93M | 600.18M |
| Stockholders Equity | 1.32B | 1.13B | 943.64M | 776.45M | 599.68M |
Cash Flow | |||||
| Free Cash Flow | 126.34M | -753.00K | 117.30M | -35.65M | 28.42M |
| Operating Cash Flow | 304.90M | 147.54M | 236.08M | 88.89M | 88.86M |
| Investing Cash Flow | -178.81M | -148.24M | -118.78M | -124.53M | -60.44M |
| Financing Cash Flow | -54.83M | -5.38M | -59.64M | 33.17M | -80.89M |
Boot Barn Technical Analysis
Positive
163.09
Price Trends
157.34
Positive
171.64
Negative
177.17
Negative
Market Momentum
0.80
Negative
61.69
Neutral
85.14
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BOOT, the sentiment is Positive. The current price of 163.09 is above the 20-day moving average (MA) of 157.05, above the 50-day MA of 157.34, and below the 200-day MA of 177.17, indicating a neutral trend. The MACD of 0.80 indicates Negative momentum. The RSI at 61.69 is Neutral, neither overbought nor oversold. The STOCH value of 85.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BOOT.
Boot Barn Risk Analysis
Boot Barn disclosed 49 risk factors in its most recent earnings report. Boot Barn reported the most risks in the "Ability to Sell" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Boot Barn Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $3.47B | 7.04 | 36.89% | ― | 5.13% | 0.95% | |
69 Neutral | $2.36B | 10.49 | 47.36% | 6.82% | 7.10% | 12.26% | |
67 Neutral | $7.73B | 8.08 | 26.47% | 2.45% | 1.58% | 11.13% | |
65 Neutral | $5.16B | 22.87 | 18.15% | ― | 17.93% | 24.95% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
57 Neutral | $2.65B | 9.46 | 17.24% | 2.09% | 6.22% | 65.05% | |
| ― | ― | ― | ― | ― | ― | ― |
* Consumer Cyclical Sector Average
BOOT
Boot Barn
169.87
12.36
7.85%
ANF
Abercrombie Fitch
77.22
-1.12
-1.43%
AEO
American Eagle
15.80
5.71
56.58%
BKE
Buckle
45.87
6.63
16.89%
FL
Foot Locker
―
―
―
GAP
Gap Inc
21.15
-0.65
-2.99%
Boot Barn Corporate Events
Business Operations and StrategyFinancial Disclosures
Boot Barn Posts Record Q4 and Fiscal 2026 Results
Positive
May 14, 2026
Boot Barn Holdings reported record results for its fourth quarter and fiscal year ended March 28, 2026, with quarterly net sales up 18.7% to $538.8 million and same-store sales rising 6.1%, including double-digit e-commerce growth. Quarterly net i...
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.