Abercrombie & Fitch
ANF · Apparel Retail
$155.82
3.5%Boot Barn
BOOT · Apparel Retail
$115.18
3.8%The short version
- Abercrombie & Fitch is the larger business, with $5.3B of revenue in fiscal 2025 against $2.3B for Boot Barn, about 2.3 times as much.
- Boot Barn grew revenue faster (17.9%, against 6.4%).
- Abercrombie & Fitch turned more of its sales into free cash flow (7.2% FCF margin, against 5.6% FCF margin).
- Investors pay more for each dollar of Boot Barn’s earnings: a P/E of 14.6x against 13.4x for Abercrombie & Fitch.
| Latest fiscal year | ANF · FY25 | BOOT · FY26 |
|---|---|---|
| Size | ||
| Market cap | $6.9B | $3.5B |
| Revenue | $5.3B | $2.3B |
| Free cash flow | $378M | $126M |
| Net income | $507M | $226M |
| Growth | ||
| Revenue growth | 6.4% | 17.9% |
| 5-year growth | 11.0% | 20.3% |
| Share count change | −8.5% | −0.1% |
| Profitability | ||
| Gross margin | — | 38.1% |
| Operating margin | 13.3% | 13.3% |
| Net margin | 9.6% | 10.0% |
| FCF margin | 7.2% | 5.6% |
| Return on capital | 91.0% | — |
| Return on equity | 37.0% | 18.4% |
| Balance sheet | ||
| Net debt | −$785M | — |
| Net debt / EBITDA | −0.9x | — |
| Dividends and buybacks | $451M | $50.0M |
| Valuation & quality | ||
| P/E | 13.4x | 14.6x |
| Piotroski F-score | 5 | — |
FY17
ANF $3.5B
BOOT $630M
FY18
ANF $3.6B
BOOT $678M
FY19
ANF $3.6B
BOOT $777M
FY20
ANF $3.1B
BOOT $846M
FY21
ANF $3.7B
BOOT $894M
FY22
ANF $3.7B
BOOT $1.5B
FY23
ANF $4.3B
BOOT $1.7B
FY24
ANF $4.9B
BOOT $1.7B
FY25
ANF $5.3B
BOOT $1.9B
FY26
ANF —
BOOT $2.3B
ANF
BOOT
FY17
ANF 2.1%
BOOT 6.0%
FY18
ANF 3.6%
BOOT 6.8%
FY19
ANF 1.9%
BOOT 8.3%
FY20
ANF −0.7%
BOOT 8.7%
FY21
ANF 9.2%
BOOT 9.7%
FY22
ANF 2.5%
BOOT 17.4%
FY23
ANF 11.3%
BOOT 14.0%
FY24
ANF 15.0%
BOOT 11.9%
FY25
ANF 13.3%
BOOT 12.5%
FY26
ANF —
BOOT 13.3%
ANF
BOOT
FY17
ANF $181M
BOOT $18.9M
FY18
ANF $201M
BOOT $19.8M
FY19
ANF $97.9M
BOOT $35.7M
FY20
ANF $303M
BOOT −$11.9M
FY21
ANF $181M
BOOT $128M
FY22
ANF −$167M
BOOT $28.4M
FY23
ANF $496M
BOOT −$35.7M
FY24
ANF $527M
BOOT $117M
FY25
ANF $378M
BOOT −$0.8M
FY26
ANF —
BOOT $126M
ANF
BOOT
FY17
ANF 4.0%
BOOT 6.1%
FY18
ANF 8.1%
BOOT 11.4%
FY19
ANF 5.1%
BOOT 12.9%
FY20
ANF −3.9%
BOOT 14.7%
FY21
ANF —
BOOT 16.2%
FY22
ANF 11.5%
BOOT —
FY23
ANF 78.3%
BOOT —
FY24
ANF 132.7%
BOOT —
FY25
ANF 91.0%
BOOT —
FY26
ANF —
BOOT —
ANF
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.