BOOT

MKT CAP:$5B

Boot Barn Holdings, Inc.

Market Cap

$5B

Consumer Cyclical·Apparel - Retail·🇺🇸 United States·NYSE

Consumer Cyc.·Apparel - Retail·🇺🇸·NYSE

Stock Price

$161.33-$25.30 (-13.56%)

Apr 23, 2026

Company Details

Boot Barn Holdings, Inc., a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It ...

CEO

John Hazen

IPO Date

Oct 30, 2014

Website

www.bootbarn.com

Key Metrics TTM

Revenue

$2.2B

+17.5% YoY

Net Income

$219M

EPS (Diluted)

$7.12

Free Cash Flow

$89M

Revenue / Share

$70.59

Gross Margin

38.3%

Operating Margin

13.4%

Net Margin

10.1%

FCF Margin

4.1%

P/S

2.4x

P/E

23.5x

Earnings Reports

Q4 2026

May 13, 2026

PENDING

Q3 2026

Feb 4, 2026

$706M+16.0%EPS $2.79

Q2 2026

Oct 31, 2025

$505M+18.7%EPS $1.37

Q1 2026

Jul 31, 2025

$504M+19.1%EPS $1.74

FY 2025

May 15, 2025

$1.9B+14.6%EPS $5.88

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$383M	$149M	$62M
Q1 23	$366M	$138M	$52M
Q2 23	$352M	$129M	$44M
Q3 23	$515M	$188M	$72M
Q4 23	$426M	$156M	$63M
Q1 24	$384M	$142M	$46M
Q2 24	$374M	$134M	$39M
Q3 24	$520M	$199M	$75M
Q4 24	$388M	$139M	$38M
Q1 25	$423M	$157M	$50M
Q2 25	$426M	$153M	$40M
Q3 25	$608M	$239M	$99M
Q4 25	$454M	$169M	$50M
Q1 26	$504M	$197M	$71M
Q2 26	$505M	$184M	$56M
Q3 26	$706M	$281M	$115M

Valuation

Quarter	P/S	P/E
Q4 22	3.5x	26.7x
Q1 23	3.3x	26.9x
Q2 23	3.2x	27.7x
Q3 23	3.2x	30.4x
Q4 23	3.1x	30.1x
Q1 24	3.1x	31.0x
Q2 24	3.0x	31.9x
Q3 24	3.0x	31.3x
Q4 24	3.1x	35.0x
Q1 25	3.0x	33.9x
Q2 25	2.9x	33.5x
Q3 25	2.8x	29.7x
Q4 25	2.7x	28.4x
Q1 26	2.6x	26.3x
Q2 26	2.5x	24.7x
Q3 26	2.4x	23.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	-$102M	-$122M
Q1 23	-$26M	-$47M
Q2 23	-$36M	-$68M
Q3 23	$149M	$119M
Q4 23	$2M	-$40M
Q1 24	$71M	$41M
Q2 24	$75M	$40M
Q3 24	$95M	$68M
Q4 24	-$4M	-$32M
Q1 25	$41M	$14M
Q2 25	-$8M	-$46M
Q3 25	$157M	$114M
Q4 25	-$43M	-$83M
Q1 26	$74M	$42M
Q2 26	$26M	-$18M
Q3 26	$210M	$148M

Capital Expenditures

Quarter	CapEx
Q4 22	$21M
Q1 23	$21M
Q2 23	$32M
Q3 23	$31M
Q4 23	$41M
Q1 24	$30M
Q2 24	$35M
Q3 24	$27M
Q4 24	$27M
Q1 25	$27M
Q2 25	$38M
Q3 25	$43M
Q4 25	$40M
Q1 26	$31M
Q2 26	$44M
Q3 26	$62M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+48.1%	+42.0%
Q1 23	+19.4%	+24.0%
Q2 23	+12.4%	+17.1%
Q3 23	+5.9%	+12.3%
Q4 23	+11.0%	+13.1%
Q1 24	+4.9%	+7.7%
Q2 24	+6.5%	+9.3%
Q3 24	+1.1%	+0.7%
Q4 24	-8.7%	-3.5%
Q1 25	+10.3%	+10.6%
Q2 25	+13.7%	+14.9%
Q3 25	+16.9%	+14.3%
Q4 25	+16.8%	+15.4%
Q1 26	+19.1%	+16.1%
Q2 26	+18.7%	+16.4%
Q3 26	+16.0%	+16.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$2M	0.4%
Q1 23	$5M	1.3%
Q2 23	$2M	0.7%
Q3 23	$2M	0.5%
Q4 23	$149.0K	0.0%
Q1 24	$5M	1.3%
Q2 24	$3M	0.8%
Q3 24	$3M	0.5%
Q4 24	$3M	0.6%
Q1 25	$6M	1.4%
Q2 25	$5M	1.2%
Q3 25	-$3M	-0.4%
Q4 25	$3M	0.6%
Q1 26	$4M	0.7%
Q2 26	$4M	0.9%
Q3 26	$5M	0.6%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q4 22	—	—	$86M
Q1 23	—	—	$85M
Q2 23	—	—	$85M
Q3 23	—	—	$115M
Q4 23	$52M	$41M	—
Q1 24	—	—	$96M
Q2 24	—	—	$95M
Q3 24	—	—	$124M
Q4 24	$57M	$44M	—
Q1 25	—	—	$107M
Q2 25	—	—	$113M
Q3 25	—	—	$139M
Q4 25	$68M	$51M	—
Q1 26	—	—	$127M
Q2 26	—	—	$128M
Q3 26	—	—	$166M

Revenue Segments

Quarter	Single Reportable Segment
Q1 26	$504M
Q2 26	$505M
Q3 26	$706M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$21M	$0	$21M
Q1 23	$16M	$0	$16M
Q2 23	$20M	$0	$20M
Q3 23	$50M	$0	$50M
Q4 23	$18M	$0	$18M
Q1 24	$17M	$0	$17M
Q2 24	$39M	$0	$39M
Q3 24	$107M	$0	$107M
Q4 24	$76M	$0	$76M
Q1 25	$83M	$0	$83M
Q2 25	$37M	$0	$37M
Q3 25	$153M	$0	$153M
Q4 25	$70M	$0	$70M
Q1 26	$95M	$0	$95M
Q2 26	$65M	$0	$65M
Q3 26	$200M	$0	$200M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	30M	-0.1%	+1.3%
Q1 23	30M	-0.1%	+0.6%
Q2 23	30M	-0.2%	-0.1%
Q3 23	30M	-0.1%	-0.5%
Q4 23	30M	+0.4%	+0.0%
Q1 24	30M	+0.1%	+0.2%
Q2 24	31M	+0.6%	+1.0%
Q3 24	31M	+0.1%	+1.2%
Q4 24	31M	+0.2%	+1.0%
Q1 25	31M	+0.3%	+1.2%
Q2 25	31M	+0.3%	+0.9%
Q3 25	31M	-0.0%	+0.8%
Q4 25	31M	-0.4%	+0.2%
Q1 26	31M	-0.1%	-0.2%
Q2 26	31M	0.0%	-0.5%
Q3 26	31M	-0.1%	-0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$174.2K	2K
Q1 23	$166.3K	2K
Q2 23	$159.8K	2K
Q3 23	$233.9K	2K
Q4 23	$193.5K	2K
Q1 24	$142.1K	3K
Q2 24	$138.7K	3K
Q3 24	$192.7K	3K
Q4 24	$125.3K	3K
Q1 25	$136.6K	3K
Q2 25	$137.4K	3K
Q3 25	$196.2K	3K
Q4 25	$137.5K	3K
Q1 26	$152.7K	3K
Q2 26	$153.2K	3K
Q3 26	$213.8K	3K

Revenue / Employee