Boot Barn Holdings, Inc. (BOOT) stock analysis

P/E below its 5-year median

Boot Barn's P/E of 16.4 is below its own 5-year median of 18.8.

P/E below the industry

Boot Barn's P/E of 16.4 is below the Apparel and Accessory Stores median of 19.2.

EV/EBITDA below its 5-year median

Boot Barn's EV/EBITDA of 11.9 is below its 5-year median of 13.3.

P/B above the industry

Boot Barn's price-to-book of 2.93 is above the Apparel and Accessory Stores median of 1.98.

Trading below fair value

The share price of $135.49 is below our fair value estimate of $137.67.

Margin of safety under 20%

The price is 1.6% below fair value, less than the 20% cushion we look for.

Revenue growing 10%+ a year

Revenue grew 10.8% a year over the last three fiscal years.

EPS growing under 10% a year

Diluted EPS grew 9.4% a year over the last three fiscal years.

Earnings growth not accelerating

Net income grew 21.4% over the last twelve months, against a 5-year average of 30.6% a year.

Growing faster than the industry

Revenue grew 16.8% over the last twelve months; the Apparel and Accessory Stores median is 4.7%.

Guidance lowered

Boot Barn lowered its second fiscal quarter ending September 26, 2026 SG&A expenses outlook on Jul 29, 2026.

Gross margin improving

Gross margin was 38.6% over the last twelve months, against 38.1% a year earlier.

Return on equity over 15%

Return on equity was 19.6% over the last twelve months and averaged 23.3% over five years.

Return on capital over 10%

Return on invested capital was 20.7%, above the 10% that usually covers the cost of capital.

Return on equity above the industry

Boot Barn's return on equity of 19.6% is above the Apparel and Accessory Stores median of 16.8%.

Earnings grew over 5 years

Net income grew 30.6% a year on average over the last five fiscal years.

Net margin above its 5-year average

Net margin was 10.4% over the last twelve months, against a 5-year average of 10.3%.

Net margin above the industry

Boot Barn's net margin of 10.4% is above the Apparel and Accessory Stores median of 2.3%.

No debt

Boot Barn has no borrowings on its latest balance sheet.

Debt not rising

With no debt today, leverage cannot have risen.

Debt covered by cash flow

There is no debt to cover.

Interest well covered

No meaningful interest expense to cover.

Short-term assets cover short-term debts

Current assets are 2.44 times current liabilities.

Low bankruptcy risk

The Altman Z-score is 4.18; above 3 is the safe zone and below 1.8 the distress zone.

No dividend

Boot Barn has not paid a dividend in the last twelve months.

Yield against Treasuries

No dividend.

Yield against the market

No dividend.

Dividend stability

No dividend.

Earnings cover

No dividend.

Cash-flow cover

No dividend.