Boot Barn Holdings, Inc.
Description
Boot Barn Holdings, Inc. operates specialty retail stores in the United States and internationally. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, safety-toe boots, and flame-resistant and high-visibility clothing, as well as gifts and home merchandise under the Shyanne, Cody James, Moonshine Spirit, Idyllwind, Hawx, Cody James Work, Cleo + Wolf, Brothers & Sons, Rank 45, Blue Ranchwear, and Cody James Black 1978 brands. The company also sells its products through websites, including bootbarn.com, sheplers.com, countryoutfitter.com, and idyllwind.com, as well as third-party marketplaces. The company was formerly known as WW Top Investment Corporation and changed its name to Boot Barn Holdings, Inc. in June 2014. Boot Barn Holdings, Inc. was founded in 1978 and is based in Irvine, California.
About
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 27, 2025 | — | — | — | — |
| Aug 6, 2025 | — | — | — | — |
| May 12, 2025 | — | — | — | — |
| Jan 31, 2025 | 2.36 | 2.43 | 0.07 | 2.97% |
| Oct 29, 2024 | 0.95 | 0.95 | 0.00 | 0.00% |
Earnings estimate
|
Current Quarter
(Mar 2025)
|
Next Quarter
(Jun 2025)
|
Current Year
(Mar 2025)
|
Next Year
(Mar 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 13 | 10 | 10 | 14 |
| Average estimate | 1.24 | 1.47 | 5.89 | 6.85 |
| Low estimate | 1.17 | 1.43 | 5.82 | 6.47 |
| High estimate | 1.27 | 1.50 | 5.91 | 7.15 |
| Last year EPS | 0.96 | 1.26 | 4.80 | 5.89 |
Growth estimates
Analyst Ratings
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| Jan 31, 2025 |
Piper Sandler
Peter Keith
|
Reiterates | Overweight | ▲ Raises $179 → $181 |
| Jan 31, 2025 |
JP Morgan
Matthew Boss
|
Maintains | Overweight | ▲ Raises $200 → $209 |
| Jan 23, 2025 |
Keybanc
Ashley Owens
|
Upgrade | Overweight | Announces $190 |
| Jan 15, 2025 |
B of A Securities
Jason Haas
|
Maintains | Buy | ▲ Raises $187 → $192 |
| Jan 13, 2025 |
BTIG
Janine Stichter
|
Maintains | Buy | ▲ Raises $185 → $190 |
| Jan 13, 2025 |
JP Morgan
Matthew Boss
|
Maintains | Overweight | ▲ Raises $188 → $200 |
| Jan 10, 2025 |
UBS
Jay Sole
|
Upgrade | Buy | ▲ Raises $155 → $210 |
| Jan 8, 2025 |
JP Morgan
Matthew Boss
|
Maintains | Overweight | ▲ Raises $181 → $188 |
| Oct 30, 2024 |
Baird
Jonathan Komp
|
Upgrade | Outperform | Maintains $167 |
| Oct 29, 2024 |
BTIG
Janine Stichter
|
Maintains | Buy | ▲ Raises $165 → $185 |
| Oct 29, 2024 |
Williams Trading
Sam Poser
|
Reiterates | Buy | Maintains $173 |
| Oct 29, 2024 |
Citigroup
Steven Zaccone
|
Maintains | Buy | ▼ Lowers $194 → $178 |
| Oct 29, 2024 |
Benchmark
John Lawrence
|
Reiterates | Buy | Maintains $192 |
| Oct 29, 2024 |
Piper Sandler
Peter Keith
|
Reiterates | Overweight | Maintains $179 |
| Oct 29, 2024 |
Craig-Hallum
Jeremy Hamblin
|
Maintains | Hold | ▼ Lowers $162 → $160 |
| Oct 29, 2024 |
JP Morgan
Matthew Boss
|
Maintains | Overweight | ▲ Raises $160 → $181 |
| Oct 25, 2024 |
Craig-Hallum
Jeremy Hamblin
|
Downgrade | Hold | ▲ Raises $154 → $162 |
| Oct 16, 2024 |
UBS
Jay Sole
|
Maintains | Neutral | ▲ Raises $127 → $165 |
| Oct 14, 2024 |
Piper Sandler
Peter Keith
|
Maintains | Overweight | ▲ Raises $147 → $179 |
| Oct 9, 2024 |
Benchmark
John Lawrence
|
Maintains | Buy | ▲ Raises $140 → $192 |
| Oct 1, 2024 |
Baird
Jonathan Komp
|
Maintains | Neutral | ▲ Raises $140 → $167 |
| Sep 11, 2024 |
Benchmark
John Lawrence
|
Reiterates | Buy | Maintains $140 |
| Sep 10, 2024 |
BTIG
Janine Stichter
|
Maintains | Buy | ▲ Raises $150 → $165 |
| Sep 10, 2024 |
JP Morgan
Matthew Boss
|
Maintains | Overweight | ▲ Raises $146 → $160 |
| Aug 8, 2024 |
UBS
Jay Sole
|
Maintains | Neutral | ▲ Raises $125 → $127 |
| Aug 8, 2024 |
Baird
Jonathan Komp
|
Maintains | Neutral | ▲ Raises $132 → $140 |
| Aug 8, 2024 |
Piper Sandler
Peter Keith
|
Maintains | Overweight | ▲ Raises $144 → $147 |
| Aug 6, 2024 |
Benchmark
John Lawrence
|
Reiterates | Buy | Maintains $140 |
| Jul 24, 2024 |
UBS
Jay Sole
|
Downgrade | Neutral | ▼ Lowers $140 → $125 |
| Jul 22, 2024 |
JP Morgan
Matthew Boss
|
Maintains | Overweight | ▲ Raises $125 → $146 |
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 |
| Total reported revenue | 1.67B | 1.66B | 1.49B | 893.49M | 845.58M |
| Cost of revenue | 1.05B | 1.05B | 913.18M | 598.61M | 569.08M |
| Gross profit | 614.42M | 610.57M | 575.07M | 294.88M | 276.49M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 416.21M | 378.79M | 316.74M | 208.55M | 202.82M |
| Other operating expenses | — | — | — | — | — |
| Operating income | 198.21M | 231.79M | 258.34M | 86.33M | 73.67M |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | 2.24M | 5.88M | 5.78M | 9.44M | 13.31M |
| Other income expense | 1.40M | -29,000 | 35,000 | 366,000 | -45,000 |
| Pretax income | 197.37M | 225.88M | 252.59M | 77.25M | 60.31M |
| Tax provision | 50.38M | 55.33M | 60.14M | 17.86M | 12.36M |
| Net income | 147.00M | 170.55M | 192.45M | 59.39M | 47.95M |
| Basic EPS | 4.87 | 5.72 | 6.51 | 2.05 | 1.68 |
| Diluted EPS | 4.80 | 5.62 | 6.33 | 2.01 | 1.64 |
| Basic average shares | 30.17M | 29.81M | 29.56M | 28.93M | 28.58M |
| Diluted average shares | 30.17M | 29.81M | 29.56M | 28.93M | 28.58M |
| EBITDA | 249.20M | 267.70M | 285.73M | 110.84M | 95.01M |
| Net income from continuing op. | 147.00M | 170.55M | 192.45M | 59.39M | 47.95M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-03-31 | 2023-03-31 | 2022-03-31 | 2021-03-31 | 2020-03-31 |
| Total assets | 1.71B | 1.52B | 1.20B | 933.58M | 924.71M |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 75.85M | 18.19M | 20.67M | 73.15M | 69.56M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 9.96M | 13.15M | 9.66M | 12.77M | 12.09M |
| Other receivables | — | — | — | — | — |
| Inventory | 599.12M | 589.49M | 474.30M | 275.76M | 288.72M |
| Prepaid assets | 23.94M | 37.42M | 28.15M | 9.61M | 6.72M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 10.51M | 10.92M | 6.66M | 2.92M | 2.02M |
| Non current assets | |||||
| Properties | 390.50M | 326.62M | 241.15M | 186.83M | 170.24M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 270.52M | 197.50M | 140.93M | 109.21M | 102.28M |
| Construction in progress | 27.74M | 61.49M | 25.36M | 5.36M | 9.74M |
| Leases | 211.51M | 136.49M | 92.15M | 71.97M | 59.72M |
| Accumulated depreciation | -186.11M | -138.34M | -103.19M | -76.10M | -62.13M |
| Goodwill | 453.70M | 455.76M | 455.82M | 455.89M | 455.98M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 58.70M | 60.75M | 60.81M | 60.89M | 60.97M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 5.58M | 6.19M | 3.32M | 3.47M | 1.74M |
| Total liabilities | 761.95M | 740.93M | 600.18M | 538.69M | 603.02M |
| Current liabilities | |||||
| Accounts payable | 132.88M | 134.25M | 131.39M | 104.64M | 95.33M |
| Accrued expenses | 38.29M | 45.41M | 46.71M | 22.46M | 10.20M |
| Short term debt | 63.45M | 117.64M | 71.67M | 39.40M | 164.68M |
| Deferred revenue | 26.38M | 22.27M | 18.52M | 14.42M | 11.11M |
| Tax payable | 13.47M | 20.23M | 32.44M | 13.79M | 6.47M |
| Pensions | 26.03M | 24.71M | 27.23M | 23.54M | 12.86M |
| Other current liabilities | 4.76M | 1.97M | 1.08M | 621,000 | 10.33M |
| Non current liabilities | |||||
| Long term debt | 403.30M | 330.08M | 234.58M | 291.62M | 269.96M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 42.03M | 33.26M | 26.90M | 21.99M | 19.80M |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 3.81M | 2.75M | 2.23M | 3.42M | 635,000 |
| Shareholders equity | |||||
| Common stock | 3,000 | 3,000 | 3,000 | 3,000 | 3,000 |
| Retained earnings | 723.03M | 576.03M | 405.48M | 213.03M | 153.64M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 943.64M | 776.45M | 599.68M | 394.89M | 321.69M |
| Additional paid in capital | 232.64M | 209.96M | 199.05M | 183.82M | 169.25M |
| Treasury stock | 12.02M | 9.55M | 4.86M | 1.95M | 1.20M |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||
| Net Income | 147.00M | 170.55M | 192.45M | 59.39M | 47.95M | 39.02M | 28.88M | 14.20M | 9.87M | 13.73M | 5.66M | 680,000 |
| Depreciation | 49.59M | 35.95M | 27.35M | 24.15M | 21.38M | 18.90M | 17.13M | 16.71M | 14.02M | 9.21M | 8.13M | 5.59M |
| Deferred Taxes | 8.77M | 6.37M | 4.90M | 2.19M | 2.60M | 4.17M | 1.86M | 6.18M | 981,000 | 1.40M | -1.87M | -633,000 |
| Stock-Based Compensation | 12.94M | 9.71M | 9.48M | 7.16M | 4.91M | 2.87M | 2.25M | 3.02M | 2.88M | 2.05M | 1.29M | 787,000 |
| Other Non-Cash Items | 55.26M | 48.00M | 40.91M | 35.41M | 31.85M | 1.21M | 1.20M | 1.11M | 1.70M | 3.54M | 3.14M | 9.40M |
| Accounts Receivable | 3.28M | -2.72M | 5.22M | 8.05M | 5.72M | -3.71M | -35,000 | -223,000 | 1.52M | -1.67M | -710,000 | -209,000 |
| Accounts Payable | 425,000 | -2.64M | 25.50M | 12.36M | -13.81M | 14.19M | 13.06M | 10.50M | 6.84M | 7.36M | 3.19M | 4.92M |
| Other Assets & Liabilities | -41.14M | -146.85M | -275.57M | -53.29M | -79.85M | -22.80M | -22.46M | -2.41M | -12.58M | -23.77M | -12.11M | -13.05M |
| Operating Cash Flow | 236.11M | 118.37M | 30.23M | 95.41M | 20.75M | 53.86M | 41.88M | 49.09M | 25.23M | 11.84M | 6.72M | 7.49M |
| Investing Activities | ||||||||||||
| Capital Expenditures | -118.78M | -124.53M | -60.44M | -28.42M | -37.20M | -27.53M | -24.42M | -22.29M | -36.13M | -14.07M | -11.38M | -3.79M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | -200,000 | — |
| Net Acquisitions | — | — | — | — | -3.69M | -4.42M | — | -1.31M | -146.54M | — | -15.70M | -41.91M |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | -118.78M | -124.53M | -60.44M | -28.42M | -40.17M | -31.77M | -23.55M | -23.60M | -182.67M | -14.07M | -27.07M | -45.70M |
| Financing Activities | ||||||||||||
| Long-Term Debt Issuance | — | — | — | — | — | — | — | — | 200.94M | 104.94M | 100.00M | 36.08M |
| Long-Term Debt Payments | -863,000 | -838,000 | -112.30M | -667,000 | -65.55M | -10.55M | -10.45M | -2.38M | -77.90M | -130.33M | -70.13M | -1.46M |
| Other Financing Charges | -2.48M | -4.69M | -2.90M | -754,000 | -1.75M | -474,000 | -645,000 | -69,000 | -2.87M | -680,000 | -25.17M | -6.57M |
| Financing Cash Flow | -69.38M | 31.97M | -86.66M | -131.32M | 62.59M | -32.03M | -23.36M | -17.99M | 152.79M | 2.43M | 14.42M | 34.37M |
| Other Cash Details | ||||||||||||
| End Cash Position | 75.85M | 18.19M | 20.67M | 73.15M | 69.56M | 16.61M | 9.02M | 8.04M | 7.20M | 1.45M | 1.12M | 1.19M |
| Income Tax Paid | 57.16M | 60.17M | 41.68M | 11.46M | 13.39M | 649,000 | 614,000 | 4.19M | 3.30M | 8.30M | 4.85M | 3.34M |
| Interest Paid | 2.39M | 5.84M | 3.81M | 8.80M | 11.96M | 14.95M | 13.74M | 13.65M | 10.33M | 11.17M | 9.11M | 6.28M |
| Free Cash Flow | 117.30M | -35.65M | 28.42M | 127.50M | -11.88M | 35.74M | 19.78M | 18.86M | -3.20M | -2.57M | 1.18M | 8.08M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Smallcap World Fund | Sep 30, 2024 | 2,060,262 | 297.13M | 6.75% |
| iShares Core S&P Smallcap ETF | Nov 30, 2024 | 1,973,776 | 284.66M | 6.47% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 957,900 | 138.15M | 3.14% |
| iShares Russell 2000 ETF | Nov 30, 2024 | 830,043 | 119.71M | 2.72% |
| Vanguard Small-Cap Index Fund | Sep 30, 2024 | 763,539 | 110.12M | 2.50% |
| Fidelity Small Cap Growth Fund | Oct 31, 2024 | 550,395 | 79.38M | 1.80% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 456,868 | 65.89M | 1.50% |
| AB Cap Fd.-AB Small Cap Growth Port | Dec 31, 2024 | 434,644 | 62.68M | 1.42% |
| Vanguard Small-Cap Growth Index Fund | Sep 30, 2024 | 421,061 | 60.73M | 1.38% |
| Vanguard Explorer Fund, Inc. | Oct 31, 2024 | 401,032 | 57.84M | 1.31% |
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