Boot Barn (BOOT) AI Stock Analysis

• Market Cap: $5.69B
• Dividend Yield: N/A
• Average Volume (3M): 608.73K
• Price to Earnings (P/E): 27.6
• Beta (1Y): 1.55
• Revenue Growth: 17.82%
• EPS Growth: 34.88%
• Country: US
• Employees: 3,100
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Apparel - Retail
• EPS (TTM): 1.37
• Shares Outstanding: 30,483,635
• 10 Day Avg. Volume: 799,392
• 30 Day Avg. Volume: 608,730
• PEG Ratio: 0.81
• Price to Book (P/B): 2.81
• Price to Sales (P/S): 1.66
• P/FCF Ratio: -4.22K
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 3.59
• Enterprise Value/Gross Profit: 9.36
• Enterprise Value/Ebitda: 20.60
• 1Y Price Target: $233.67
• Price Target Upside: 27.05% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): 7.1
• Revenue Forecast (FY): $2.23B

• Rating: 77 Outperform
• Price Target: $229.00 ▲(24.51% Upside)

Boot Barn's strong financial performance and positive earnings call are the most significant factors driving the stock's score. The company's robust revenue growth, profitability, and strategic expansion initiatives position it well for future growth. However, the high P/E ratio suggests potential overvaluation, and technical indicators show mixed signals with potential overbought conditions.

Positive Factors

Revenue Growth

Strong revenue growth indicates effective market penetration and product demand, supporting long-term business expansion and profitability.

Expansion of Total Addressable Market

Expanding the addressable market enhances growth potential, allowing Boot Barn to capture a larger customer base and increase sales opportunities.

E-commerce Success

Strong e-commerce growth reflects successful digital strategy and adaptation to consumer trends, ensuring sustained revenue streams.

Negative Factors

Tariff Challenges

Tariff-related cost increases can pressure margins, potentially impacting profitability and pricing strategies over the long term.

Occupancy Cost Deleverage

Increased occupancy costs from new stores may strain margins, affecting overall cost efficiency and profitability.

Potential Macro Uncertainty

Macroeconomic uncertainties can affect consumer spending, posing risks to sales growth and financial performance.

Boot Barn Business Overview & Revenue Model

Company Description

Boot Barn Holdings, Inc. is a leading retailer of western and work-related footwear, apparel, and accessories in the United States. Founded in 1978, the company operates a chain of stores that cater to the lifestyle of western and outdoor enthusiasts, offering a wide range of products including cowboy boots, work boots, hats, jeans, and other western wear. Boot Barn serves both the western lifestyle and workwear markets, addressing the needs of ranchers, farmers, and outdoor workers, as well as consumers looking for durable and stylish clothing and footwear.

How the Company Makes Money

Boot Barn generates revenue primarily through the sale of its merchandise across its retail locations and e-commerce platform. The company's revenue model is built on a combination of direct sales of proprietary and third-party brands, including popular names in western wear and work apparel. Key revenue streams include in-store sales, online sales, and exclusive brand partnerships. Additionally, Boot Barn benefits from seasonal sales and promotions, contributing to increased foot traffic and online engagement. The company also focuses on customer loyalty programs, which help drive repeat business and enhance customer retention. Strategic partnerships with brands and manufacturers further bolster its product offerings and market presence, thereby supporting overall earnings.

Boot Barn Financial Statement Overview

Summary

Boot Barn exhibits strong financial health with robust revenue growth, solid profitability margins, and efficient asset management. The company maintains a stable balance sheet with moderate leverage and excellent return on equity. Cash flow generation is improving, though capital expenditures remain high. Overall, Boot Barn is well-positioned for sustainable growth within the Apparel - Retail industry.

Income Statement

Boot Barn has demonstrated impressive revenue growth with a 19.2% increase from 2024 to 2025. The gross profit margin is strong at 38.0% TTM, indicating effective cost management. The net profit margin has improved to 9.8% TTM, reflecting enhanced profitability. EBIT and EBITDA margins are healthy at 13.0% and 15.6% TTM, respectively, showcasing operational efficiency.

Balance Sheet

The debt-to-equity ratio stands at 0.51 TTM, suggesting a balanced financial leverage. The return on equity is robust at 16.7% TTM, indicating good return on shareholder investments. The equity ratio has improved to 55.9% TTM, showing a stable asset base with a significant portion funded by equity. Overall, the balance sheet reflects a strong financial position with moderate risk.

Cash Flow

Free cash flow has significantly improved, growing from negative to a positive $27.39 million TTM, indicating improved cash generation. Operating cash flow to net income ratio is 0.92 TTM, reflecting strong cash conversion from profits. However, the free cash flow to net income ratio is lower at 0.14 TTM, suggesting that capital expenditures still consume a significant portion of cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.62B	1.91B	1.67B	1.66B	1.49B	893.49M
Gross Profit	620.24M	717.04M	614.42M	610.57M	575.07M	294.88M
EBITDA	281.77M	304.10M	249.19M	315.57M	325.01M	145.07M
Net Income	170.70M	180.94M	147.00M	170.55M	192.45M	59.39M
Balance Sheet
Total Assets	2.26B	2.02B	1.71B	1.52B	1.20B	933.58M
Cash, Cash Equivalents and Short-Term Investments	64.73M	69.77M	75.85M	18.19M	20.67M	73.15M
Total Debt	667.95M	563.04M	466.76M	447.72M	306.25M	331.02M
Total Liabilities	1.05B	886.96M	761.95M	740.93M	600.18M	538.69M
Stockholders Equity	1.21B	1.13B	943.64M	776.45M	599.68M	394.89M
Cash Flow
Free Cash Flow	139.08M	-753.00K	117.30M	-35.65M	28.42M	127.50M
Operating Cash Flow	256.73M	147.54M	236.08M	88.89M	88.86M	155.92M
Investing Cash Flow	-117.88M	-148.24M	-118.78M	-124.53M	-60.44M	-28.42M
Financing Cash Flow	-28.35M	-5.38M	-59.64M	33.17M	-80.89M	-123.91M

Boot Barn Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 183.92
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 183.92 is below the 20-day moving average (MA) of 189.81, above the 50-day MA of 181.01, and above the 200-day MA of 151.16, indicating a neutral trend. The MACD of 1.80 indicates Positive momentum. The RSI at 48.67 is Neutral, neither overbought nor oversold. The STOCH value of 19.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BOOT.

Boot Barn Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BOOT	77 Outperform	$5.69B	27.62	18.74%	―	17.82%	34.88%
BKE	76 Outperform	$2.93B	14.36	43.13%	6.88%	1.62%	-2.57%
ANF	73 Outperform	$3.37B	6.60	43.30%	―	9.34%	10.61%
AEO	71 Outperform	$3.01B	17.12	12.17%	2.81%	-2.73%	-16.71%
GAP	69 Neutral	$8.70B	10.08	28.07%	2.69%	-0.05%	15.17%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
FL	44 Neutral	―	―	―	―	-3.58%	-4.20%

Boot Barn Corporate Events

Boot Barn Holdings Reports Strong Q2 2026 Growth

Boot Barn Holdings, Inc. is a leading lifestyle retailer specializing in western and work-related footwear, apparel, and accessories across the United States, with a significant presence in both physical stores and e-commerce platforms.

Boot Barn Reports Strong Q2 Financial Results

Boot Barn Holdings, Inc. reported strong financial results for the second fiscal quarter ended September 27, 2025, with an 18.7% increase in net sales to $505.4 million and a net income rise to $42.2 million. The company opened 16 new stores, expanding its total to 489, and announced an increased store count potential of 1,200 locations, reflecting an expanded total addressable market of approximately $58 billion. These results highlight the company’s strategic execution and market growth potential, positioning it for continued success and strong returns for stakeholders.

The most recent analyst rating on (BOOT) stock is a Buy with a $229.00 price target. To see the full list of analyst forecasts on Boot Barn stock, see the BOOT Stock Forecast page.

Boot Barn Holds Annual Stockholders Meeting, August 2025

On August 27, 2025, Boot Barn Holdings, Inc. held its Annual Meeting of Stockholders, where four proposals were voted on. All management’s nominees for directors were elected, and the stockholders approved the fiscal 2025 executive compensation. The frequency of future say-on-pay votes was set to annual, aligning with stockholder preference. Additionally, Deloitte & Touche LLP was ratified as the independent auditor for the fiscal year ending March 28, 2026. These decisions reflect the company’s commitment to aligning with stockholder interests and ensuring robust governance practices.

The most recent analyst rating on (BOOT) stock is a Buy with a $189.00 price target. To see the full list of analyst forecasts on Boot Barn stock, see the BOOT Stock Forecast page.

Boot Barn’s Strong Q1: Growth Amid Challenges

Boot Barn Holdings recently held its first-quarter earnings call, revealing a strong performance marked by significant revenue growth and improved margins. The company demonstrated solid execution of strategic initiatives, although concerns about tariffs and macroeconomic uncertainties loom over the latter half of the fiscal year.

Boot Barn Holdings Reports Strong Q1 Fiscal 2026 Results

Boot Barn Holdings, Inc. is a leading lifestyle retailer specializing in western and work-related footwear, apparel, and accessories, operating in the retail sector with a significant presence across the United States. The company has reported robust financial results for the first quarter of fiscal year 2026, showcasing a strong start with a notable increase in net sales and income. Boot Barn’s net sales rose by 19.1% to $504.1 million, driven by a 9.4% increase in same-store sales and the opening of 14 new stores. The company’s net income also saw a significant boost, rising to $53.4 million, or $1.74 per diluted share, compared to $38.9 million, or $1.26 per diluted share, in the previous year. The increase in gross profit margin by 210 basis points to 39.1% was attributed to better merchandise margins and cost control measures. Looking ahead, Boot Barn is optimistic about its growth prospects, planning to open between 65 and 70 new stores in fiscal year 2026 and expecting total sales growth of 10% to 14%. The company remains confident in its strategic initiatives and aims to continue delivering value to shareholders.

Boot Barn Reports Strong Q1 2026 Financial Performance

Boot Barn Holdings, Inc. reported a robust financial performance for the first quarter of fiscal year 2026, ending June 28, 2025, with net sales rising by 19.1% to $504.1 million compared to the previous year. The company saw a 9.4% increase in same-store sales and opened 14 new stores, bringing the total to 473. Net income rose to $53.4 million, driven by strong merchandise margin expansion and effective expense control. The company raised its full-year outlook, reflecting confidence in its strategic initiatives and growth potential, including plans to open up to 70 new stores in fiscal 2026.

The most recent analyst rating on (BOOT) stock is a Buy with a $181.00 price target. To see the full list of analyst forecasts on Boot Barn stock, see the BOOT Stock Forecast page.