Boot Barn (BOOT) AI Stock Analysis

• Market Cap: $4.95B
• Dividend Yield: N/A
• Average Volume (3M): 696.03K
• Price to Earnings (P/E): 25.6
• Beta (1Y): 1.59
• Revenue Growth: 16.70%
• EPS Growth: 27.76%
• Country: US
• Employees: 3,100
• Sector: Consumer Cyclical
• Sector Strength: 73
• Industry: Apparel - Retail
• EPS (TTM): 1.74
• Shares Outstanding: 30,555,622
• 10 Day Avg. Volume: 593,419
• 30 Day Avg. Volume: 696,033
• 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: 1.06
• Enterprise Value/Revenue: 2.64
• Enterprise Value/Gross Profit: 6.94
• Enterprise Value/Ebitda: 16.01
• 1Y Price Target: $216.08
• Price Target Upside: 29.17% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 14

• Rating: 76 Outperform
• Price Target: $189.00 ▲(12.98% Upside)

Boot Barn's overall stock score reflects its strong financial performance and positive earnings call, which highlight robust growth and strategic expansion. Technical analysis suggests a potential consolidation phase, while valuation indicates moderate pricing compared to peers. Macroeconomic uncertainties and tariff-related concerns are notable risks.

Positive Factors

Brand Penetration

The focus on expanding the exclusive brand business is expected to increase its penetration mix significantly, enhancing brand strength.

Sales Momentum

Strong sales momentum across categories and geographies suggests potential upside to revenue and margin estimates.

Negative Factors

Tariff Risks

Tariff risk remains an overhang, with still-uncertain rates.

Valuation Concerns

Valuation is becoming a key debate and the top push back on the Buy rating as shares recently peaked at $179 and are indicating +10% after hours.

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 impressive 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, indicating a strong position for sustainable growth.

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	1.99B	1.91B	1.67B	1.66B	1.49B	893.49M
Gross Profit	757.52M	717.04M	614.42M	610.57M	575.07M	294.88M
EBITDA	328.15M	304.10M	249.19M	315.57M	325.01M	145.07M
Net Income	195.44M	180.94M	147.00M	170.55M	192.45M	59.39M
Balance Sheet
Total Assets	2.09B	2.02B	1.71B	1.52B	1.20B	933.58M
Cash, Cash Equivalents and Short-Term Investments	95.32M	69.77M	75.85M	18.19M	20.67M	73.15M
Total Debt	597.15M	563.04M	466.76M	447.72M	306.25M	331.02M
Total Liabilities	922.42M	886.96M	761.95M	740.93M	600.18M	538.69M
Stockholders Equity	1.17B	1.13B	943.64M	776.45M	599.68M	394.89M
Cash Flow
Free Cash Flow	27.39M	-753.00K	117.30M	-35.65M	28.42M	127.50M
Operating Cash Flow	180.08M	147.54M	236.08M	88.89M	88.86M	155.92M
Investing Cash Flow	-152.63M	-148.24M	-118.78M	-124.53M	-60.44M	-28.42M
Financing Cash Flow	-15.51M	-5.38M	-59.64M	33.17M	-80.89M	-123.91M

Boot Barn Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 167.28
• 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 167.28 is below the 20-day moving average (MA) of 170.20, above the 50-day MA of 165.86, and above the 200-day MA of 140.92, indicating a neutral trend. The MACD of -0.17 indicates Positive momentum. The RSI at 49.77 is Neutral, neither overbought nor oversold. The STOCH value of 16.77 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
BKE	79 Outperform	$2.84B	14.30	44.55%	7.02%	-1.08%	-8.20%
BOOT	76 Outperform	$4.95B	25.56	18.15%	―	16.70%	27.76%
ANF	76 Outperform	$4.47B	9.24	46.98%	―	12.54%	25.47%
GAP	73 Outperform	$7.72B	9.02	29.16%	3.01%	1.07%	28.03%
AEO	69 Neutral	$2.25B	13.29	12.19%	3.89%	-0.95%	-10.51%
Sector *	61 Neutral	$17.43B	12.62	-6.02%	3.11%	1.71%	-15.47%
FL	50 Neutral	$2.46B	194.63	-12.85%	―	-2.62%	0.93%

Boot Barn Corporate Events

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.

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.