American Eagle Outfitters
AEO · Apparel Retail
$17.91
0.1%Boot Barn
BOOT · Apparel Retail
$115.18
3.8%The short version
- American Eagle Outfitters is the larger business, with $5.5B of revenue in fiscal 2025 against $2.3B for Boot Barn, about 2.5 times as much.
- Boot Barn grew revenue faster (17.9%, against 4.1%).
- Boot Barn kept more of each dollar of sales as operating profit (13.3% operating margin, against 4.1% operating margin).
- Boot Barn turned more of its sales into free cash flow (5.6% FCF margin, against 3.5% FCF margin).
- Investors pay more for each dollar of Boot Barn’s earnings: a P/E of 14.6x against 9.1x for American Eagle Outfitters.
| Latest fiscal year | AEO · FY25 | BOOT · FY26 |
|---|---|---|
| Size | ||
| Market cap | $3.0B | $3.5B |
| Revenue | $5.5B | $2.3B |
| Free cash flow | $195M | $126M |
| Net income | $192M | $226M |
| Growth | ||
| Revenue growth | 4.1% | 17.9% |
| 5-year growth | 8.1% | 20.3% |
| Share count change | −10.3% | −0.1% |
| Profitability | ||
| Gross margin | 36.5% | 38.1% |
| Operating margin | 4.1% | 13.3% |
| Net margin | 3.5% | 10.0% |
| FCF margin | 3.5% | 5.6% |
| Return on capital | 11.5% | — |
| Return on equity | 11.1% | 18.4% |
| Balance sheet | ||
| Net debt | −$197M | — |
| Net debt / EBITDA | −0.4x | — |
| Dividends and buybacks | $142M | $50.0M |
| Valuation & quality | ||
| P/E | 9.1x | 14.6x |
| Piotroski F-score | 4 | — |
FY17
AEO $3.8B
BOOT $630M
FY18
AEO $4.0B
BOOT $678M
FY19
AEO $4.3B
BOOT $777M
FY20
AEO $3.8B
BOOT $846M
FY21
AEO $5.0B
BOOT $894M
FY22
AEO $5.0B
BOOT $1.5B
FY23
AEO $5.3B
BOOT $1.7B
FY24
AEO $5.3B
BOOT $1.7B
FY25
AEO $5.5B
BOOT $1.9B
FY26
AEO —
BOOT $2.3B
AEO
BOOT
FY17
AEO 8.0%
BOOT 6.0%
FY18
AEO 8.4%
BOOT 6.8%
FY19
AEO 5.4%
BOOT 8.3%
FY20
AEO −7.2%
BOOT 8.7%
FY21
AEO 11.8%
BOOT 9.7%
FY22
AEO 5.0%
BOOT 17.4%
FY23
AEO 4.2%
BOOT 14.0%
FY24
AEO 8.0%
BOOT 11.9%
FY25
AEO 4.1%
BOOT 12.5%
FY26
AEO —
BOOT 13.3%
AEO
BOOT
FY17
AEO $225M
BOOT $18.9M
FY18
AEO $268M
BOOT $19.8M
FY19
AEO $205M
BOOT $35.7M
FY20
AEO $74.5M
BOOT −$11.9M
FY21
AEO $69.8M
BOOT $128M
FY22
AEO $146M
BOOT $28.4M
FY23
AEO $406M
BOOT −$35.7M
FY24
AEO $254M
BOOT $117M
FY25
AEO $195M
BOOT −$0.8M
FY26
AEO —
BOOT $126M
AEO
BOOT
FY17
AEO 26.0%
BOOT 6.1%
FY18
AEO 30.2%
BOOT 11.4%
FY19
AEO 21.5%
BOOT 12.9%
FY20
AEO −30.8%
BOOT 14.7%
FY21
AEO 46.9%
BOOT 16.2%
FY22
AEO 12.6%
BOOT —
FY23
AEO 11.6%
BOOT —
FY24
AEO 23.3%
BOOT —
FY25
AEO 11.5%
BOOT —
FY26
AEO —
BOOT —
AEO
BOOT
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.