Boot Barn (BOOT) AI Stock Analysis

• Market Cap: $5.46B
• Dividend Yield: N/A
• Average Volume (3M): 626.65K
• Price to Earnings (P/E): 29.9
• Beta (1Y): 1.59
• Revenue Growth: 14.64%
• EPS Growth: 21.68%
• Country: US
• Employees: 3,100
• Sector: Consumer Cyclical
• Sector Strength: 72
• Industry: Apparel - Retail
• EPS (TTM): 1.22
• Shares Outstanding: 30,578,522
• 10 Day Avg. Volume: 600,360
• 30 Day Avg. Volume: 626,647
• PEG Ratio: 6.57
• Price to Book (P/B): 4.82
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -7.26K
• Enterprise Value/Market Cap: 1.09
• Enterprise Value/Revenue: 2.76
• Enterprise Value/Gross Profit: 40.58
• Enterprise Value/Ebitda: 47.81
• 1Y Price Target: $192.08
• Price Target Upside: 9.69% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 13

• Rating: 77 Outperform
• Price Target: $197.00 ▲(12.50%Upside)

Boot Barn's robust financial performance and strategic initiatives, including store expansion and a significant share buyback program, are positive indicators. While technical indicators suggest strong momentum, potential risks include tariff impacts and the stock's high valuation. Overall, the company is well-positioned for growth, supported by effective leadership and strategic planning.

Positive Factors

Expansion Plans

BOOT has 459 stores in over 49 states and a target of 900 by 2030, indicating significant expansion plans.

Market Position

Boot Barn has very few competitors and virtually owns the better western and better work businesses within the retail space.

Sales Momentum

Momentum continues to accelerate with a significant increase in comparable store sales, indicating strong demand and growth potential.

Negative Factors

Consumer Health Concerns

There is caution on consumer health, which may lead to a decline in transactions, creating some uncertainty in future performance.

Market Comparisons

The bar for stock momentum to continue post EPS has heightened due to the stock run and significantly harder compares starting in August.

Stock Valuation

BOOT currently trades at ~24x FY'2 P/E, which is above its 5YR average of ~18x.

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 boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing. The company also provides gifts and home merchandise. As of May 10, 2022, it operated 304 stores in 38 states. The company also sells its products through e-commerce websites, including bootbarn.com; sheplers.com; and countryoutfitter.com. The company was formerly known as WW Top Investment Corporation and changed its name to Boot Barn Holdings, Inc. in June 2014. Boot Barn Holdings, Inc. was founded in 1978 and is based in Irvine, California.

How the Company Makes Money

Boot Barn generates revenue primarily through the sale of its extensive range of footwear, apparel, and accessories. The company's revenue model is centered on retail sales conducted through its physical retail stores and online platform. Key revenue streams include sales from national brands as well as exclusive private label products, which often carry higher margins. Boot Barn's earnings are further supported by strategic partnerships with suppliers and manufacturers, allowing it to offer unique and sought-after products. Additionally, Boot Barn benefits from a loyal customer base and frequent promotional events, which drive foot traffic and online sales.

Boot Barn Financial Statement Overview

Summary

Boot Barn shows strong financial health with significant revenue growth and improved profitability. The balance sheet is solid with controlled leverage, though rising debt levels require monitoring. Cash flow management needs improvement, particularly in maintaining positive free cash flow.

Income Statement

Boot Barn has demonstrated strong revenue growth with a consistent upward trajectory over the years. The gross profit margin has remained healthy, indicating efficient cost management. The net profit margin has also improved, reflecting enhanced profitability. The stability of EBIT and EBITDA margins signals robust operational efficiency, contributing positively to the income statement's strength.

Balance Sheet

The company's balance sheet shows a sound equity position with a reasonable debt-to-equity ratio, indicating balanced leverage. The return on equity has improved, showcasing effective use of shareholders' funds. The equity ratio suggests a solid asset base relative to liabilities, although the increase in debt levels requires monitoring to prevent potential leverage risks.

Cash Flow

Cash flow from operations has shown fluctuations, with a decrease in recent periods. Despite a drop in free cash flow, the operating cash flow to net income ratio remains stable, indicating good conversion of net income into cash. However, the negative free cash flow growth rate highlights potential challenges in managing capital expenditures and financing activities.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.91B	1.67B	1.66B	1.49B	893.49M
Gross Profit	717.04M	614.42M	610.57M	575.07M	294.88M
EBITDA	239.35M	249.19M	315.57M	325.01M	145.07M
Net Income	180.94M	147.00M	170.55M	192.45M	59.39M
Balance Sheet
Total Assets	2.02B	1.71B	1.52B	1.20B	933.58M
Cash, Cash Equivalents and Short-Term Investments	69.77M	75.85M	18.19M	20.67M	73.15M
Total Debt	563.04M	466.76M	447.72M	306.25M	331.02M
Total Liabilities	886.96M	761.95M	740.93M	600.18M	538.69M
Stockholders Equity	1.13B	943.64M	776.45M	599.68M	394.89M
Cash Flow
Free Cash Flow	-753.00K	117.30M	-35.65M	28.42M	127.50M
Operating Cash Flow	147.54M	236.08M	88.89M	88.86M	155.92M
Investing Cash Flow	-148.24M	-118.78M	-124.53M	-60.44M	-28.42M
Financing Cash Flow	-5.38M	-59.64M	33.17M	-80.89M	-123.91M

Boot Barn Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 175.11
• 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 BOOT, the sentiment is Positive. The current price of 175.11 is above the 20-day moving average (MA) of 169.06, above the 50-day MA of 163.58, and above the 200-day MA of 140.50, indicating a bullish trend. The MACD of 4.61 indicates Negative momentum. The RSI at 58.82 is Neutral, neither overbought nor oversold. The STOCH value of 77.83 is Neutral, 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
ANF	79 Outperform	$4.70B	9.64	46.98%	―	12.54%	25.47%
BKE	79 Outperform	$2.56B	12.90	44.55%	7.89%	-1.08%	-8.20%
BOOT	77 Outperform	$5.46B	29.86	17.44%	―	14.64%	21.68%
GAP	73 Outperform	$7.61B	8.89	29.16%	3.17%	1.07%	28.03%
AEO	68 Neutral	$2.08B	12.31	12.19%	4.34%	-0.95%	-10.51%
Sector *	60 Neutral	€5.94B	10.63	-11.12%	4.14%	3.99%	-37.65%
FL	55 Neutral	$2.45B	194.63	-12.85%	―	-2.62%	0.93%

Boot Barn Corporate Events

Boot Barn Releases Strategic Investor Presentation

Boot Barn Holdings, Inc. has released an investor presentation to be used in meetings with institutional investors and analysts. The presentation provides insights into the company’s strategic initiatives and growth potential, highlighting challenges such as economic conditions and trade policies that could impact operations. Boot Barn continues to focus on expanding its store count and enhancing its product offerings to maintain its industry-leading position.

The most recent analyst rating on (BOOT) stock is a Buy with a $147.00 price target. To see the full list of analyst forecasts on Boot Barn stock, see the BOOT Stock Forecast page.

Boot Barn Announces $200 Million Share Buyback Program

Boot Barn Holdings, Inc. reported a strong financial performance for the fourth quarter and fiscal year ending March 29, 2025, with net sales increasing by 16.8% and 14.6% respectively compared to the previous year. The company also announced a $200 million share repurchase program, reflecting confidence in its strategic initiatives and market positioning, as it continues to expand its store count and strengthen its brand appeal.

The most recent analyst rating on (BOOT) stock is a Buy with a $110.00 price target. To see the full list of analyst forecasts on Boot Barn stock, see the BOOT Stock Forecast page.

Boot Barn Appoints John Hazen as CEO

Boot Barn Holdings, Inc. has appointed John Hazen as Chief Executive Officer, effective May 5, 2025, following his interim role since November 2024. The Board of Directors, after a comprehensive search, believes Hazen’s industry knowledge and experience in digital transformation make him well-suited to lead the company. Hazen’s compensation includes a base salary of $900,000 and participation in the company’s incentive bonus program. Peter Starrett will continue as Executive Chairman until the end of 2025 to aid in the transition. The appointment is expected to strengthen Boot Barn’s strategic direction and growth initiatives, enhancing value for customers and stakeholders.