Saturday 31 October 2026
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Boot Barn Holdings, Inc.
BOOT Consumer Cyclical Apparel Retail
Boot Barn Holdings, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $2.3 billion, up 17.9% from fiscal 2025. In the quarter to June 2026, revenue grew 17.8%, EPS grew 32.0% and free cash flow fell 22.7%, each against the same quarter a year earlier. Revenue growth for ten consecutive years.
131.97
1.49
+1.14%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to March
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Price, $ | |||||||||||||||||
| Price, $ | Low | 5.90 | 15.01 | 16.24 | 8.03 | 41.44 | 50.20 | 59.21 | 68.37 | 86.17 | 110.53 | +38.5% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | |
| High | 17.68 | 31.62 | 45.15 | 48.11 | 134.50 | 126.70 | 104.91 | 169.83 | 210.25 | 207.77 | +31.5% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ||
| People | |||||||||||||||||
| People | Employees | 3,000 | 3,500 | 4,000 | 3,200 | 4,900 | 8,400 | 8,800 | 11,300 | 10,400 | 12,700 | +17.4% | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | |
| Revenue/emp, $m | 0.21 | 0.19 | 0.19 | 0.26 | 0.18 | 0.18 | 0.19 | 0.15 | 0.18 | 0.18 | (1.8%) | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ||
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | 630 | 678 | 777 | 846 | 893 | 1,488 | 1,658 | 1,667 | 1,911 | 2,254 | +15.2% | 2,606 | 2,939 | 3,285 | +13.4% | |
| Gross margin, % | 30.15 | 30.67 | 32.37 | 32.70 | 33.00 | 38.64 | 36.83 | 36.86 | 37.52 | 38.08 | +7.9 pt | ||||||
| EBT | 23 | 31 | 48 | 60 | 77 | 253 | 226 | 197 | 240 | 301 | +33.0% | ||||||
| EBT margin, % | 3.67 | 4.60 | 6.18 | 7.13 | 8.65 | 16.97 | 13.63 | 11.84 | 12.56 | 13.34 | +9.7 pt | ||||||
| Net income | 14 | 29 | 39 | 48 | 59 | 192 | 171 | 147 | 181 | 226 | +36.0% | ||||||
| Depreciation | 18 | 18 | 20 | 53 | 59 | 29 | 36 | 52 | 63 | 79 | +17.9% | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | 23.80 | 25.35 | 27.65 | 29.58 | 30.88 | 50.35 | 55.62 | 55.26 | 62.61 | 73.88 | +13.4% | |||||
| Earnings | 0.54 | 1.08 | 1.39 | 1.62 | 2.05 | 6.51 | 5.72 | 4.87 | 5.93 | 7.40 | +33.8% | ||||||
| Cash flow | 1.56 | 1.65 | 2.25 | 0.89 | 5.39 | 3.01 | 2.98 | 7.83 | 4.83 | 10.00 | +23.0% | ||||||
| Capex | (0.84) | (0.91) | (0.98) | (1.30) | (0.98) | (2.04) | (4.18) | (3.94) | (4.86) | (5.86) | +24.1% | ||||||
| Free cash flow | 0.71 | 0.74 | 1.27 | (0.42) | 4.41 | 0.96 | (1.20) | 3.89 | (0.02) | 4.13 | +21.6% | ||||||
| Book value | 6.80 | 8.02 | 9.40 | 11.25 | 13.65 | 20.29 | 26.05 | 31.28 | 37.05 | 43.23 | +22.8% | ||||||
| Shares, m | 26 | 27 | 28 | 29 | 29 | 30 | 30 | 30 | 31 | 31 | +1.6% | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | 18.31 | 15.67 | 21.88 | 7.70 | 30.54 | 14.56 | 13.40 | 20.46 | 18.12 | 19.75 | 18.0 | |||||
| P/S | 0.42 | 0.67 | 1.09 | 0.44 | 2.02 | 1.88 | 1.38 | 1.80 | 1.72 | 1.98 | 1.3 | ||||||
| P/B | 1.45 | 2.11 | 3.21 | 1.15 | 4.56 | 4.67 | 2.94 | 3.19 | 2.90 | 3.39 | 3.0 | ||||||
| EV/Sales | 0.77 | 0.97 | 1.34 | 0.83 | 2.10 | 2.05 | 1.55 | 1.91 | 1.82 | 2.03 | 1.5 | ||||||
| EV/FCF | 25.79 | 33.11 | 29.06 | (58.92) | 14.73 | 107.11 | (72.00) | 27.20 | (4,971.67) | 36.36 | (482.9) | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | 41 | 44 | 63 | 25 | 156 | 89 | 89 | 236 | 148 | 305 | +24.9% | |||||
| Capex | (22) | (24) | (28) | (37) | (28) | (60) | (125) | (119) | (148) | (179) | +26.0% | ||||||
| Free cash flow | 19 | 20 | 36 | (12) | 127 | 28 | (36) | 117 | (1) | 126 | +23.5% | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | 77 | 90 | 125 | 72 | 153 | 205 | 294 | 417 | 511 | 643 | +26.7% | |||||
| Total debt | 233 | 212 | 182 | 400 | 149 | 263 | 66 | — | — | — | (18.9%) | ||||||
| Net debt | 225 | 202 | 165 | 330 | 76 | 242 | 48 | (76) | (70) | (141) | n/m | ||||||
| Shareholders’ equity | 180 | 215 | 264 | 322 | 395 | 600 | 776 | 944 | 1,131 | 1,319 | +24.8% | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | 2.57 | 5.01 | 6.38 | 6.14 | 6.39 | 18.04 | 12.55 | 9.12 | 9.72 | 10.11 | +7.5 pt | |||||
| ROIC | 5.84 | 6.93 | 9.36 | 7.06 | 11.47 | 19.17 | 17.57 | 14.28 | 14.10 | 15.88 | +10.0 pt | ||||||
| ROE | 8.32 | 14.64 | 16.30 | 16.37 | 16.57 | 38.70 | 24.79 | 17.09 | 17.44 | 18.44 | +10.1 pt | ||||||
Negative figures in brackets.
estimates
Fiscal years to Mar 2026 · latest quarter Jun 2026
Boot Barn Holdings, Inc. vs peers in Apparel Retail (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| LULU lululemon athletica inc. | $12.7B | 8.8× | 10.3× | −4.34% (below 0%: shrinking) | −5.81% (below 0%: shrinking) | +49.33% (above 0%: growing) | 60.52% | 18.78% | Compare |
| GAP The Gap, Inc. | $8.0B | 6.5× | 6.1× | −1.99% (below 0%: shrinking) | +143.10% (above 0%: growing) | −47.71% (below 0%: shrinking) | 52.83% | 18.52% | Compare |
| VSXY Victoria's Secret & Co. | $7.9B | 21.7× | 17.7× | +10.42% (above 0%: growing) | +990.00% (above 0%: growing) | +272.73% (above 0%: growing) | 47.11% | 15.95% | Compare |
| URBN Urban Outfitters, Inc. | $7.9B | 14.0× | 12.2× | +10.44% (above 0%: growing) | +75.63% (above 0%: growing) | +92.47% (above 0%: growing) | 43.42% | 17.37% | Compare |
| ANF Abercrombie & Fitch Company | $7.0B | 13.9× | 11.6× | +4.81% (above 0%: growing) | +41.41% (above 0%: growing) | +296.59% (above 0%: growing) | 71.10% | 19.95% | Compare |
| BOOT Boot Barn Holdings, Inc. | $3.9B | 16.6× | 12.7× | +17.75% (above 0%: growing) | +32.00% (above 0%: growing) | −22.73% (below 0%: shrinking) | 40.42% | 15.25% | |
| AEO American Eagle Outfitters, Inc. | $3.4B | 9.8× | 7.9× | +7.53% (above 0%: growing) | +77.78% (above 0%: growing) | +367.29% (above 0%: growing) | 48.69% | 15.32% | Compare |
| BKE Buckle, Inc. (The) | $2.4B | 10.6× | 10.8× | +4.60% (above 0%: growing) | −2.22% (below 0%: shrinking) | −63.66% (below 0%: shrinking) | 47.85% | 17.45% | Compare |
| CRI Carter's, Inc. | $1.2B | 5.9× | 5.4× | +5.16% (above 0%: growing) | +28,600.00% (above 0%: growing) | +688.36% (above 0%: growing) | 67.04% | 22.72% | Compare |
| Median of peers | $7.5B | 10.2× | 10.6× | +4.99% | +76.71% | +182.60% | 50.76% | 17.99% |
Pay and ownership Proxy statement filed 16 July 2026
Ownership
Directors and executive officers, together
less than 1%
BlackRock, Inc.
14.20%
Vanguard Portfolio Management
5.60%
FMR LLC
5.30%
Vanguard Capital Management
5.20%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement