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Boot Barn

BOOT NYSE Apparel Retail Financials FY2017–FY2026

Boot Barn's revenue rose 17.9% to $2.3 billion in fiscal 2026. Its operating margin was 13.3%, up from 12.5% a year earlier. Free cash flow was $126 million. It paid out $50 million in dividends and buybacks, 40% of free cash flow. The diluted share count fell 0.1%.

Last close · Oct 23, 2026

$115.18

3.8%
Value it Compare
Revenue Total sales reported in the income statement.
$2.3B
17.9% vs prior year
Operating margin Operating income as a share of revenue.
13.3%
0.8 pts
Net income Profit after all expenses, interest and tax.
$226M
24.9%
Free cash flow Cash from operations minus capital spending.
$126M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$3.5B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
14.6x
On $7.90 EPS (TTM)

What Boot Barn does

No business description yet.

Legal name
Boot Barn Holdings, Inc.
Fiscal year ends
March 28, 2026
Latest annual report
—
Accession · CIK
0001104659-26-061346
0001610250

Revenue and margins

Boot Barn had $2.3B of revenue in fiscal 2026, up 17.9% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew 33.9% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $126M in fiscal 2026, 5.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Boot Barn returned $50.0M to shareholders in fiscal 2026, 40% of free cash flow. The diluted share count fell 0.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Boot Barn yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 30.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 14.6x · peers 12.1x · sector 17.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Boot Barn can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $20.7M$18.2M$75.8M$69.8M$141M
Interest coverage 67.8x39.7x83.1x173.3x213.7x
Current ratio 1.6x1.8x2.3x2.5x2.7x
Quick ratio 0.2x0.2x0.4x0.3x0.5x
Total assets $1.2B$1.5B$1.7B$2.0B$2.5B
Total liabilities $600M$741M$762M$887M$1.1B
Shareholders' equity $600M$776M$944M$1.1B$1.3B
Net debt (− = net cash) —————

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$1.7M

4 insiders

Of sales under plans

14%

$0.2M

DateInsiderTradeSharesPriceValueFiling
May 26, 2026 Jonathon David KosoffChief Digital Officer Sold 230 $160.31 $0.0M Form 4
Feb 25, 2026 Brenda I MorrisDirector Sold 1,000 $197.74 $0.2M Form 4
Dec 1, 2025 Gene Eddie BurtDirector Sold plan 1,200 $191.41 $0.2M Form 4
Nov 3, 2025 Peter StarrettExecutive Chairman, Director Sold 6,498 $190.00 $1.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✓
Cash from operations exceeds net income ✓ ✕ ✓
Debt fell relative to assets — — —
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✕ ✕ ✓
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✓ ✕
F-score — / 9— / 9— / 9
Accruals ratio −5.5%1.8%−3.5%
Altman Z'' 5.075.265.27

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Boot Barn BOOT $3.5B 17.9% 13.3% 5.6% — 14.6x —
Buckle BKE $2.4B 6.6% 20.1% 15.9% — 10.7x — Compare →
Abercrombie & Fitch ANF $6.9B 6.4% 13.3% 7.2% 91.0% 13.4x 5 Compare →
American Eagle Outfitters AEO $3.0B 4.1% 4.1% 3.5% 11.5% 9.1x 4 Compare →
Urban Outfitters URBN $7.5B 11.1% 9.8% 5.1% 23.7% 13.5x 8 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $630M $678M $777M $846M $894M $1.5B $1.7B $1.7B $1.9B $2.3B
Gross profit $190M $208M $251M $277M $295M $575M $611M $614M $717M $858M
Operating income $37.8M $46.3M $64.3M $73.7M $86.3M $258M $232M $198M $239M $299M
Interest expense $13.6M $13.7M $14.9M $12.0M $8.8M $3.8M $5.8M $2.4M $1.4M $1.4M
Pretax income $23.1M $31.2M $48.0M $60.3M $77.2M $253M $226M $197M $240M $301M
Income tax $8.9M $2.3M $9.0M $12.4M $17.9M $60.1M $55.3M $50.4M $59.2M $74.7M
Net income $14.2M $28.9M $39.0M $47.9M $59.4M $192M $171M $147M $181M $226M
Diluted EPS $0.53 $1.05 $1.35 $1.64 $2.01 $6.33 $5.62 $4.80 $5.88 $7.35
Diluted shares 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B
Cash flow
Cash from operations $41.2M $44.2M $63.3M $25.3M $156M $88.9M $88.9M $236M $148M $305M
Capital expenditure $22.3M $24.4M $27.5M $37.2M $28.4M $60.4M $125M $119M $148M $179M
Free cash flow $18.9M $19.8M $35.7M −$11.9M $128M $28.4M −$35.7M $117M −$0.8M $126M
Depreciation and amortization $16.7M $17.1M $18.9M $21.4M $24.1M $27.4M $35.9M $49.6M $62.5M $78.7M
Stock-based compensation $3.0M $2.2M $2.9M $4.9M $7.2M $9.5M $9.7M $12.9M $11.0M $16.1M
Acquisitions $1.3M $0.0M $4.4M $3.7M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $50.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $50.0M
Balance sheet
Cash and short-term investments $8.0M $9.0M $16.6M $69.6M $73.1M $20.7M $18.2M $75.8M $69.8M $141M
Total debt $193M $183M $174M $109M $110M — — — — —
Finance lease liabilities $0.0M $0.0M $0.0M $14.0M $14.7M $17.0M $16.2M $15.3M $14.4M $13.5M
Current assets $224M $241M $277M $385M $375M $542M $669M $730M $864M $1.0B
Current liabilities $148M $151M $152M $313M $222M $337M $375M $313M $353M $391M
Inventory $189M $212M $241M $289M $276M $474M $590M $599M $747M $845M
Property and equipment, net $82.7M $89.2M $98.7M $110M $110M $155M $257M $324M $422M $514M
Total assets $566M $588M $636M $925M $934M $1.2B $1.5B $1.7B $2.0B $2.5B
Total liabilities $386M $373M $372M $603M $539M $600M $741M $762M $887M $1.1B
Shareholders' equity $180M $215M $264M $322M $395M $600M $776M $944M $1.1B $1.3B
Margins
Gross margin 30.2% 30.7% 32.4% 32.7% 33.0% 38.6% 36.8% 36.9% 37.5% 38.1%
Operating margin 6.0% 6.8% 8.3% 8.7% 9.7% 17.4% 14.0% 11.9% 12.5% 13.3%
EBITDA margin 8.7% 9.4% 10.7% 11.2% 12.4% 19.2% 16.2% 14.9% 15.8% 16.8%
Net margin 2.3% 4.3% 5.0% 5.7% 6.7% 12.9% 10.3% 8.8% 9.5% 10.0%
FCF margin 3.0% 2.9% 4.6% −1.4% 14.3% 1.9% −2.2% 7.0% −0.0% 5.6%
Returns
Return on capital 6.1% 11.4% 12.9% 14.7% 16.2% — — — — —
Return on capital employed 9.4% 10.8% 14.0% 13.4% 13.0% 32.8% 23.1% 15.6% 15.7% 16.1%
Return on equity 8.3% 14.6% 16.3% 16.4% 16.6% 38.7% 24.8% 17.1% 17.4% 18.4%
Return on assets 2.6% 5.0% 6.4% 6.1% 6.4% 18.0% 12.6% 9.1% 9.7% 10.1%
Growth
Revenue growth 10.7% 7.6% 14.6% 8.9% 5.7% 66.6% 11.4% 0.6% 14.6% 17.9%
Net income growth 43.9% 103.4% 35.1% 22.9% 23.9% 224.1% −11.4% −13.8% 23.1% 24.8%
EPS growth 43.2% 98.1% 28.6% 21.5% 22.6% 214.9% −11.2% −14.6% 22.5% 25.0%
FCF growth — 4.9% 80.6% −133.2% — −77.7% −225.4% — −100.6% —
Share count change −0.1% 2.2% 4.7% 1.4% 0.9% 3.1% −0.1% 0.8% 0.5% −0.1%
Financial health
Net debt / EBITDA 3.4x 2.8x 1.9x 0.6x 0.5x — — — — —
Debt / equity 1.1x 0.9x 0.7x 0.4x 0.3x — — — — —
Interest coverage 2.8x 3.4x 4.3x 6.2x 9.8x 67.8x 39.7x 83.1x 173.3x 213.7x
Current ratio 1.5x 1.6x 1.8x 1.2x 1.7x 1.6x 1.8x 2.3x 2.5x 2.7x
Quick ratio 0.2x 0.2x 0.2x 0.3x 0.5x 0.2x 0.2x 0.4x 0.3x 0.5x
Capital allocation
Capex / revenue 3.5% 3.6% 3.5% 4.4% 3.2% 4.1% 7.5% 7.1% 7.8% 7.9%
Stock comp / revenue 0.5% 0.3% 0.4% 0.6% 0.8% 0.6% 0.6% 0.8% 0.6% 0.7%
Payouts / FCF 0.0% 0.0% 0.0% — 0.0% 0.0% — 0.0% — 39.6%
Quality scores
Piotroski F-score 6.0 8.0 8.0 6.0 6.0 — — — — —
Altman Z'' 2.0 2.5 3.3 2.2 3.2 4.7 4.6 5.1 5.3 5.3
Accruals ratio −4.9% −2.7% −4.0% 2.9% −10.4% 9.7% 6.0% −5.5% 1.8% −3.5%

Source: SEC EDGAR XBRL filings (CIK 0001610250). Data updated October 19, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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