Boot Barn Holdings Past Earnings Performance
Past criteria checks 5/6
Boot Barn Holdings has been growing earnings at an average annual rate of 9.6%, while the Specialty Retail industry saw earnings declining at 4.7% annually. Revenues have been growing at an average rate of 12.6% per year. Boot Barn Holdings's return on equity is 17.1%, and it has net margins of 10%.
Key information
9.61%
Earnings growth rate
8.62%
EPS growth rate
| Specialty Retail Industry Growth | 26.64% |
| Revenue growth rate | 12.57% |
| Return on equity | 17.13% |
| Net Margin | 10.02% |
| Last Earnings Update | 28 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • May 21
BOOT: Future Returns Will Reflect Solid Q4 And Conservative 2027 Plan
Analysts reduced the fair value estimate for Boot Barn Holdings by about $12 to roughly $225 per share, reflecting lower assumed profit margins and valuation multiples. They are updating models after what they describe as a solid Q4 report and generally reiterate positive long term views on the stock.Seeking Alpha • May 15
Boot Barn Holdings Takes A Step Higher As Growth Surprises
Summary Boot Barn Holdings delivered strong Q4 FY2026 results, with revenue and EPS surpassing expectations and robust growth in store count and comparable sales. BOOT's e-commerce segment excelled, with 14.1% comparable sales growth, aided by AI-driven marketing and operational initiatives and dedicated women's brand websites. Management guides for FY2027 revenue of $2.578–$2.623 billion, 70 new store openings, and net profit of $251.1–$264.5 million, supported by a debt-free balance sheet. I maintain a 'hold' rating as BOOT trades at a premium to peers; a further price drop or continued outperformance could justify an upgrade. Read the full article on Seeking Alpha
Narrative Update • May 06
BOOT: Private Brand Margins And Execution Will Support Future Earnings Power
Narrative Update on Boot Barn Holdings The updated analyst price target for Boot Barn Holdings has edged higher, supported by Street research that points to slightly stronger revenue growth and profit margin assumptions, a modestly higher fair value estimate near $278, and a somewhat lower future P/E multiple as analysts reassess the stock following several recent target raises and an upgrade. Analyst Commentary Recent Street research has tilted more constructive on Boot Barn Holdings, with bullish analysts adjusting price targets higher and upgrading the stock as part of a broader reappraisal of its earnings power and execution.Narrative Update • Apr 22
BOOT: Future Returns Will Reflect Store Expansion And Execution Risks
Boot Barn Holdings' analyst price target has been revised by $0, with analysts citing updated assumptions around discount rate, revenue, profit margin, and future P/E to support the unchanged fair value estimate of $237.14. Analyst Commentary Recent research updates around Boot Barn Holdings highlight a mix of optimism and caution as analysts refine their assumptions on discount rates, revenue, profit margins, and future P/E multiples.
Narrative Update • Apr 07
BOOT: Merchandise Margin Expansion And Q3 Strength Will Support Future Earnings Power
Analysts have lifted the fair value estimate for Boot Barn Holdings from $180.00 to about $196.63, citing Street research that highlights stronger Q3 results, improved profitability and merchandise margin expansion as key drivers behind higher price targets from firms such as Jefferies, BTIG, Citi and Piper Sandler. Analyst Commentary Recent Street research around Boot Barn centers on stronger than expected Q3 results, with several firms adjusting price targets and ratings to reflect updated views on earnings power, merchandise margins and store performance.Narrative Update • Mar 24
BOOT: Future Returns Will Reflect Stronger Margins And Execution Risks
Analyst price targets for Boot Barn Holdings have been lifted by $10 to $237.14, as analysts factor in recent target increases across firms. They emphasize expectations for sustained demand, improving profitability, and a lower assumed future P/E multiple of about 25x in their updated models.Narrative Update • Mar 09
BOOT: Private Brand Margin Expansion Will Support Future Earnings Power
Analysts have increased their price targets on Boot Barn by low single-digit dollar amounts, citing stronger than expected Q3 results, improved profitability, and ongoing merchandise margin gains tied to private brand growth and scale efficiencies. Analyst Commentary Bullish analysts are responding to Boot Barn's recent Q3 update with a series of higher price targets, reflecting confidence in how the company is executing and how that execution is feeding into earnings power and valuation.Narrative Update • Feb 23
BOOT: Private Brand Margin Expansion Will Support Stronger Earnings Power
Analysts have nudged their average price targets on Boot Barn Holdings higher by a few dollars, into the mid to high $190s range. They cite stronger than expected Q3 results, improving profitability, and continued merchandise margin expansion supported by private brand growth and scale efficiencies.Narrative Update • Feb 08
BOOT: Merchandise Margin Strength From Private Brands Will Drive Further Upside
Analysts trimmed their fair value estimate for Boot Barn Holdings by about US$0.50 per share to roughly US$278. This reflects slightly lower revenue growth assumptions, a modestly reduced future P/E multiple, and a small improvement in expected profit margins following recent price target hikes across the Street.Narrative Update • Jan 25
BOOT: Margin Expansion And Private Brand Gains Will Drive Further Upside
Analysts have lifted their price targets on Boot Barn Holdings, reflected in our fair value estimate edging up by about $4 per share. They are factoring in stronger recent Q2 and Q3 updates, broader top line and margin strength, and continued benefits from private brand growth and buying efficiencies.Narrative Update • Jan 11
BOOT: Strong Recent Comps And Conservative Guidance Will Shape Balanced Outlook
Analysts have lifted their price targets for Boot Barn, with our fair value estimate moving from US$128.77 to US$180.00. This change is supported by views that strong recent quarterly results, solid comp growth and what they see as conservative guidance justify higher expectations.Analysis Article • Jan 05
If EPS Growth Is Important To You, Boot Barn Holdings (NYSE:BOOT) Presents An Opportunity
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Narrative Update • Dec 27
BOOT: Strong Same Store Sales Trends Will Drive Further Upside
Analysts have lifted their fair value estimate for Boot Barn Holdings from about $209 to roughly $275 per share. This change reflects stronger than expected recent quarterly results and a robust start to the current quarter, which support slightly higher growth assumptions despite modestly lower margin expectations.Narrative Update • Dec 13
BOOT: Future Performance Expected To Reflect Strong Comps And Elevated Execution Risks
Narrative Update on Analyst Price Target The analyst price target for Boot Barn Holdings has been lifted modestly to approximately $227 per share from about $227 previously, as analysts factor in stronger near term revenue growth supported by robust recent same store sales and upside to quarterly results, even as they make a slight upward adjustment to the discount rate and expect only marginally lower profit margins. Analyst Commentary Bullish analysts highlight that the latest quarterly performance and early third quarter trends support a higher valuation framework for Boot Barn, with upward revisions to price targets reflecting greater confidence in the durability of same store sales growth and earnings power.Narrative Update • Nov 28
BOOT: Continued Acceleration Expected Following Standout 8.4% Comparable Sales Momentum
Analysts have increased their price target on Boot Barn Holdings by $15, citing strong second quarter performance and an encouraging start to the third quarter as key reasons for their more optimistic outlook. Analyst Commentary Bullish Takeaways Bullish analysts have raised their price targets, reflecting increased confidence in Boot Barn’s valuation potential amid strong quarterly performance.Narrative Update • Nov 13
BOOT: Future Momentum Will Continue Following Strong 8.4% Comparable Sales Performance
Analysts have increased their price target for Boot Barn Holdings by $6.38 to $227.31. They cite robust quarterly results and strong momentum continuing into the current quarter.Analysis Article • Nov 08
Boot Barn Holdings, Inc. Just Recorded A 7.5% EPS Beat: Here's What Analysts Are Forecasting Next
Boot Barn Holdings, Inc. ( NYSE:BOOT ) investors will be delighted, with the company turning in some strong numbers...Narrative Update • Oct 30
BOOT: Strong Comparable Sales And Conservative Guidance Will Support Upside Momentum
Analysts have raised their price target for Boot Barn Holdings from approximately $213 to nearly $221 per share. They cite the company’s robust quarterly results, stronger-than-expected comparable sales growth, and a promising outlook for the coming quarters.Analysis Article • Aug 04
Boot Barn Holdings, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions
Boot Barn Holdings, Inc. ( NYSE:BOOT ) shareholders are probably feeling a little disappointed, since its shares fell...Analysis Article • Jul 22
Is Now The Time To Look At Buying Boot Barn Holdings, Inc. (NYSE:BOOT)?
Boot Barn Holdings, Inc. ( NYSE:BOOT ), is not the largest company out there, but it led the NYSE gainers with a...Analysis Article • Jun 14
Here's What To Make Of Boot Barn Holdings' (NYSE:BOOT) Decelerating Rates Of Return
If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and...Seeking Alpha • Apr 18
Boot Barn Unfairly Given The Boot, If Tariffs Go Away, The Stock Will Soar
Summary Boot Barn's 47% stock decline is driven by tariff fears, not fundamentals, presenting a buying opportunity if trade tensions ease. Tariffs on Mexican and Chinese imports have significantly impacted BOOT's supply chain, leading to increased costs and reduced profit margins. The market's overreaction to tariff news has punished BOOT unfairly, with the potential for a strong rebound if tariffs are reduced. Despite risks, BOOT remains undervalued with strong fundamentals, making it a buy for long-term gains, especially if tariffs normalize soon. Read the full article on Seeking AlphaSeeking Alpha • Jan 31
Boot Barn Keeps Demonstrating Greatness, But Oh Boy, Is It Expensive
Summary Boot Barn Holdings, Inc.'s Q3 2025 same-store sales rose 8.6%, showcasing strong retail performance despite easier comps from a weak 3Q24. Despite impressive results, BOOT stock is expensive, trading at nearly 30x earnings, making it difficult to justify a buy. The company faces potential future margin hits from increased tariffs and risks from rapid store expansion into less valuable areas. Given high valuation and economic cycle exposure, I maintain a Hold rating, awaiting more attractive entry points. Read the full article on Seeking AlphaSeeking Alpha • Jan 18
Boot Barn: Valuation Remains Too High Despite Outstanding SSS
Summary Boot Barn has returned to incredibly rapid same-store sales growth despite continued industry weakness, exceeding prior expectations. The performance could still be temporary, aided by near-term fashion tailwinds. The rapid store expansion and margin initiatives have continued as planned, providing a good earnings growth outlook ahead. BOOT stock prices in too rapid growth, and I estimate -26% downside to a fair value of $118.8. Read the full article on Seeking AlphaSeeking Alpha • Oct 29
Boot Barn: Q2 Was Great, But Stock Is Not An Opportunity Even After The Drop
Summary Boot Barn Holdings, Inc.'s Q2 2025 earnings showed a positive 5% same-store sales growth, reversing a previous weaker trend, and guiding for similar performance in Q3. Despite strong earnings, Boot Barn's stock fell 20% due to the CEO's departure to Ross Stores, adding transition and execution risks. Margins saw only a slight improvement, with gross margins up 10bps but SG&A deleveraging by 100bps due to compensation and legal expenses. Updated guidance predicts 3-5% SSS growth, 12.5-14.5% total growth, flat operating margins, and EPS between $5.3 and $5.6. Read the full article on Seeking AlphaSeeking Alpha • Sep 05
Boot Barn's Q1 2025 Gives Confidence In Return To Growth, But The Stock Is Still Expensive
Summary Boot Barn's 1Q25 results showed positive comparable sales growth and maintained margins, with a 10% store expansion rate. Management's effective strategies in ad spend and inventory management highlight their focus on long-term profitability over short-term gains. Despite positive performance and strong management, Boot Barn's current valuation is too high, limiting upside potential and increasing risk. I maintain a Hold rating due to the high P/E multiple and the need for consistent growth to justify the current stock price. Read the full article on Seeking Alpha
New Narrative • Sep 03
Expanding Store Base And E-commerce Innovations Fuel Retailer's Growth And Engagement Surge
Expansion and opening of new stores, coupled with focus on increasing transaction values in existing stores, suggest overall sales growth.Seeking Alpha • Jul 29
Boot Barn: Still Watching Same-Store Sales Performance Closely (Rating Downgrade)
Summary Boot Barn is going to report its Q1 results, with analysts expecting a sequential improvement in same-store sales into a stable performance. While Q1 looks to improve the SSS KPI, the guidance for FY2025 is still weak. Boot Barn has underperformed industry peers in the latest reported quarter, making better SSS critical. The stock's valuation has become stretched after the recent rally. Read the full article on Seeking AlphaRevenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Boot Barn Holdings makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 28 Mar 26 | 2,254 | 226 | 559 | 0 |
| 27 Dec 25 | 2,169 | 219 | 540 | 0 |
| 27 Sep 25 | 2,071 | 208 | 513 | 0 |
| 28 Jun 25 | 1,992 | 195 | 498 | 0 |
| 29 Mar 25 | 1,911 | 181 | 478 | 0 |
| 28 Dec 24 | 1,846 | 173 | 458 | 0 |
| 28 Sep 24 | 1,758 | 153 | 443 | 0 |
| 29 Jun 24 | 1,707 | 152 | 425 | 0 |
| 30 Mar 24 | 1,667 | 147 | 414 | 0 |
| 30 Dec 23 | 1,704 | 164 | 408 | 0 |
| 30 Sep 23 | 1,698 | 161 | 399 | 0 |
| 01 Jul 23 | 1,675 | 165 | 389 | 0 |
| 01 Apr 23 | 1,658 | 171 | 379 | 0 |
| 24 Dec 22 | 1,615 | 169 | 372 | 0 |
| 24 Sep 22 | 1,587 | 185 | 356 | 0 |
| 25 Jun 22 | 1,548 | 191 | 339 | 0 |
| 26 Mar 22 | 1,488 | 192 | 317 | 0 |
| 25 Dec 21 | 1,364 | 172 | 246 | 0 |
| 25 Sep 21 | 1,180 | 133 | 234 | 0 |
| 26 Jun 21 | 1,052 | 101 | 223 | 0 |
| 27 Mar 21 | 893 | 59 | 209 | 0 |
| 26 Dec 20 | 823 | 41 | 211 | 0 |
| 26 Sep 20 | 805 | 36 | 196 | 0 |
| 27 Jun 20 | 808 | 38 | 196 | 0 |
| 28 Mar 20 | 846 | 48 | 203 | 0 |
| 28 Dec 19 | 850 | 51 | 231 | 0 |
| 28 Sep 19 | 820 | 45 | 215 | 0 |
| 29 Jun 19 | 801 | 42 | 201 | 0 |
| 30 Mar 19 | 777 | 39 | 187 | 0 |
| 29 Dec 18 | 755 | 37 | 184 | 0 |
| 29 Sep 18 | 726 | 38 | 175 | 0 |
| 30 Jun 18 | 701 | 35 | 169 | 0 |
| 31 Mar 18 | 678 | 29 | 162 | 0 |
| 30 Dec 17 | 670 | 25 | 159 | 0 |
| 30 Sep 17 | 645 | 15 | 153 | 0 |
| 01 Jul 17 | 636 | 14 | 149 | 0 |
| 01 Apr 17 | 630 | 14 | 151 | 0 |
| 24 Dec 16 | 616 | 13 | 148 | 0 |
| 24 Sep 16 | 611 | 12 | 143 | 0 |
| 25 Jun 16 | 606 | 8 | 146 | 0 |
| 26 Mar 16 | 569 | 10 | 134 | 0 |
| 26 Dec 15 | 523 | 11 | 121 | 0 |
| 26 Sep 15 | 460 | 10 | 111 | 0 |
| 27 Jun 15 | 416 | 15 | 100 | 0 |
Quality Earnings: BOOT has high quality earnings.
Growing Profit Margin: BOOT's current net profit margins (10%) are higher than last year (9.5%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: BOOT's earnings have grown by 9.6% per year over the past 5 years.
Accelerating Growth: BOOT's earnings growth over the past year (24.9%) exceeds its 5-year average (9.6% per year).
Earnings vs Industry: BOOT earnings growth over the past year (24.9%) exceeded the Specialty Retail industry -0.7%.
Return on Equity
High ROE: BOOT's Return on Equity (17.1%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/01 23:26 |
| End of Day Share Price | 2026/06/01 00:00 |
| Earnings | 2026/03/28 |
| Annual Earnings | 2026/03/28 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Boot Barn Holdings, Inc. is covered by 23 analysts. 16 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Jonathan Komp | Baird |
| Christopher Nardone | BofA Global Research |
| Jeffrey Lick | B. Riley Securities, Inc. |