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BOOT

Boot Barn Holdings, Inc.

BOOT

Boot Barn Holdings, Inc. • NYSE
$193.82 ▼ -0.15% (-0.29)
Market Cap $5.93 B
52w High $205.31
52w Low $86.17
Dividend Yield 0%
P/E 28.59
Volume 156.87K
Outstanding Shares 30.57M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $505.396M ▲ $127.726M ▲ $42.222M ▼ 8.354% ▼ $1.38 ▼ $76.783M ▼
Q1-2026 $504.067M ▲ $126.501M ▲ $53.408M ▲ 10.595% ▲ $1.75 ▲ $89.149M ▲
Q4-2025 $453.749M ▼ $118.887M ▼ $37.539M ▼ 8.273% ▼ $1.23 ▼ $66.955M ▼
Q3-2025 $608.17M ▲ $139.405M ▲ $75.066M ▲ 12.343% ▲ $2.46 ▲ $115.835M ▲
Q2-2025 $425.799M $112.879M $29.428M 6.911% $0.96 $56.208M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $64.728M ▼ $2.257B ▲ $1.051B ▲ $1.205B ▲
Q1-2026 $95.319M ▲ $2.094B ▲ $922.42M ▲ $1.171B ▲
Q4-2025 $69.77M ▼ $2.018B ▲ $886.964M ▼ $1.131B ▲
Q3-2025 $152.914M ▲ $2.013B ▲ $922.447M ▲ $1.091B ▲
Q2-2025 $37.377M $1.867B $850.119M $1.017B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $42.222M ▼ $25.735M ▼ $-43.519M ▼ $-12.807M ▲ $-30.591M ▼ $-17.495M ▼
Q1-2026 $53.408M ▲ $73.85M ▲ $-31.462M ▲ $-16.839M ▼ $25.549M ▲ $42.388M ▲
Q4-2025 $37.539M ▼ $-43.147M ▼ $-39.932M ▲ $-65K ▼ $-83.144M ▼ $-83.079M ▼
Q3-2025 $75.066M ▲ $157.145M ▲ $-42.903M ▼ $1.295M ▲ $115.537M ▲ $114.187M ▲
Q2-2025 $29.428M $-7.769M $-38.337M $96K $-46.01M $-46.106M

Five-Year Company Overview

Income Statement

Income Statement Boot Barn’s income statement shows a company that has grown meaningfully while staying solidly profitable. Sales have climbed steadily over the past five years, and profits have generally scaled with that growth. Margins remain healthy for a retailer, even though earnings appear to have cooled slightly from an earlier peak and then picked back up again. Overall, it looks like a mature, profitable growth story rather than a boom‑and‑bust pattern, with the main watchpoint being how well they can maintain margins as they keep expanding stores and e‑commerce.

Balance Sheet

Balance Sheet The balance sheet reflects a growing, asset‑heavy retailer that is adding stores and inventory but also building shareholder equity. Total assets and equity have stepped up each year, suggesting reinvestment is largely being funded in a sustainable way. Debt has increased but not explosively, and it appears balanced against a rising equity base, which points to moderate leverage rather than an aggressive capital structure. Cash on hand is fairly lean, which is common for retailers but means they rely on ongoing cash generation and credit lines to manage growth and seasonality.

Cash Flow

Cash Flow Cash flow tells the story of a company in investment mode. Core operations consistently generate cash, but the amount has been somewhat up and down year to year. Free cash flow turns positive when investment slows and drops toward zero or slightly negative when they lean into heavier spending on new stores and infrastructure. The latest period looks like one of those reinvestment years, with higher capital spending absorbing most of the cash from operations. This is typical for a growth retailer, but it puts a spotlight on execution: new stores and digital investments need to keep paying off to support that spend.

Competitive Edge

Competitive Edge Boot Barn holds a strong niche position as the leading specialty retailer focused on Western and workwear. Its scale, deep assortment, and national store footprint create real advantages over smaller regional chains and mom‑and‑pop shops. Exclusive in‑house brands deepen its moat by offering differentiated products and better margins that big‑box or online generalists can’t easily match. Strong ties to the Western lifestyle and work communities, backed by loyalty programs and event sponsorships, further reinforce customer loyalty. The flip side is concentration risk: the brand is tightly tied to a specific lifestyle and economic segment, leaving it exposed to shifts in Western fashion trends, energy and construction employment, and broader consumer spending cycles.

Innovation and R&D

Innovation and R&D While Boot Barn is not a lab‑driven R&D company, it is clearly leaning into innovation in retail. The business is investing in e‑commerce, omnichannel services, and AI tools to personalize shopping, support store associates, and improve training. Its push into exclusive brands is another form of innovation, creating proprietary product lines and digital destinations around them. These efforts can strengthen customer engagement and margins if executed well. The main uncertainties are whether the AI and digital tools truly move the needle on sales and efficiency, and whether brand and product innovation can keep pace with changing tastes, especially as the company scales far beyond its original core markets.

Summary

Boot Barn looks like a focused growth retailer with a solid profit profile and a clear niche. The income statement points to sustained growth and healthy margins, the balance sheet shows expanding assets and equity with manageable leverage, and cash flows reflect a deliberate choice to reinvest heavily in new stores and digital capabilities. Its competitive edge comes from scale in a specialized category, strong private labels, and deep cultural ties to its core customer base, all reinforced by increasingly sophisticated technology. Key things to watch going forward include how same‑store sales and margins hold up as the store base grows, whether cash generation keeps pace with investment needs, and how effectively the company can use data, AI, and exclusive brands to stay ahead of both mainstream retailers and online competitors in a cyclical consumer environment.

NEWS

November 21, 2025 · 4:05 PM UTC

Boot Barn Celebrates 500th Store, Marking Major Milestone in Coast-to-Coast Growth

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October 29, 2025 · 4:10 PM UTC

Boot Barn Holdings, Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Increased Store Count Potential of 1,200 Stores

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October 22, 2025 · 4:05 PM UTC

Boot Barn Holdings, Inc. to Report Second Quarter Fiscal Year 2026 Results on October 29, 2025

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