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Boot Barn Hldgs Inc Financials

BOOT
Source SEC Filings (10-K/10-Q) Updated Dec 27, 2025 Currency USD FYE March

This page shows Boot Barn Hldgs Inc (BOOT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 59 / 100
Financial Profile 59/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
63

Boot Barn Hldgs Inc has an operating margin of 12.5%, meaning the company retains $13 of operating profit per $100 of revenue. This results in a moderate score of 63/100, indicating healthy but not exceptional operating efficiency. This is up from 11.9% the prior year.

Growth
70

Boot Barn Hldgs Inc's revenue grew 14.6% year-over-year to $1.9B, a solid pace of expansion. This earns a growth score of 70/100.

Leverage
82

Boot Barn Hldgs Inc carries a low D/E ratio of 0.78, meaning only $0.78 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
78

With a current ratio of 2.45, Boot Barn Hldgs Inc holds $2.45 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 78/100.

Cash Flow
0

While Boot Barn Hldgs Inc generated $147.5M in operating cash flow, capex of $148.3M consumed most of it, leaving -$753K in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
64

Boot Barn Hldgs Inc's ROE of 16.0% shows moderate profitability relative to equity, earning a score of 64/100. This is up from 15.6% the prior year.

Altman Z-Score Safe
6.14

Boot Barn Hldgs Inc scores 6.14, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.7B) relative to total liabilities ($887.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
5/9

Boot Barn Hldgs Inc passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed
0.82x

For every $1 of reported earnings, Boot Barn Hldgs Inc generates $0.82 in operating cash flow ($147.5M OCF vs $180.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue
$1.9B
YoY+14.6%
5Y CAGR+17.7%
10Y CAGR+16.9%

Boot Barn Hldgs Inc generated $1.9B in revenue in fiscal year 2025. This represents an increase of 14.6% from the prior year.

EBITDA
$302.6M
YoY+21.7%
5Y CAGR+25.8%
10Y CAGR+21.1%

Boot Barn Hldgs Inc's EBITDA was $302.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 21.7% from the prior year.

Free Cash Flow
-$753K
YoY-100.6%

Boot Barn Hldgs Inc generated -$753K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 100.6% from the prior year.

Net Income
$180.9M
YoY+23.1%
5Y CAGR+30.4%
10Y CAGR+29.4%

Boot Barn Hldgs Inc reported $180.9M in net income in fiscal year 2025. This represents an increase of 23.1% from the prior year.

EPS (Diluted)
$5.88
YoY+22.5%
5Y CAGR+29.1%
10Y CAGR+27.0%

Boot Barn Hldgs Inc earned $5.88 per diluted share (EPS) in fiscal year 2025. This represents an increase of 22.5% from the prior year.

Cash & Debt
$69.8M
YoY-8.0%
5Y CAGR+0.1%
10Y CAGR+47.3%

Boot Barn Hldgs Inc held $69.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
31M
YoY+0.6%
5Y CAGR+1.2%
10Y CAGR+1.7%

Boot Barn Hldgs Inc had 31M shares outstanding in fiscal year 2025. This represents an increase of 0.6% from the prior year.

Gross Margin
37.5%
YoY+0.7pp
5Y CAGR+4.8pp
10Y CAGR+4.0pp

Boot Barn Hldgs Inc's gross margin was 37.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.7 percentage points from the prior year.

Operating Margin
12.5%
YoY+0.6pp
5Y CAGR+3.8pp
10Y CAGR+3.7pp

Boot Barn Hldgs Inc's operating margin was 12.5% in fiscal year 2025, reflecting core business profitability. This is up 0.6 percentage points from the prior year.

Net Margin
9.5%
YoY+0.7pp
5Y CAGR+3.8pp
10Y CAGR+6.1pp

Boot Barn Hldgs Inc's net profit margin was 9.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.

Return on Equity
16.0%
YoY+0.4pp
5Y CAGR+1.1pp
10Y CAGR+6.4pp

Boot Barn Hldgs Inc's ROE was 16.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.4 percentage points from the prior year.

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$148.3M
YoY+24.8%
5Y CAGR+31.9%
10Y CAGR+26.6%

Boot Barn Hldgs Inc invested $148.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 24.8% from the prior year.

BOOT Income Statement

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q3'23 Q2'23
Revenue $705.6M+39.6% $505.4M+0.3% $504.1M-17.1% $608.2M+42.8% $425.8M+0.6% $423.4M-18.6% $520.4M+39.0% $374.5M
Cost of Revenue $424.4M+32.1% $321.2M+4.7% $306.8M-16.9% $369.3M+35.3% $272.9M+2.4% $266.6M-17.0% $321.3M+33.6% $240.5M
Gross Profit $281.2M+52.7% $184.1M-6.6% $197.2M-17.4% $238.9M+56.3% $152.9M-2.5% $156.7M-21.3% $199.1M+48.7% $133.9M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $166.5M+30.3% $127.7M+1.0% $126.5M-9.3% $139.4M+23.5% $112.9M+6.0% $106.5M-14.1% $124.0M+30.0% $95.3M
Operating Income $114.8M+103.4% $56.4M-20.2% $70.7M-28.9% $99.5M+148.8% $40.0M-20.4% $50.2M-33.2% $75.1M+94.8% $38.6M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $28.9M+96.8% $14.7M-17.8% $17.9M-25.8% $24.1M+116.7% $11.1M-3.8% $11.6M-40.3% $19.4M+86.3% $10.4M
Net Income $85.8M+103.2% $42.2M-20.9% $53.4M-28.9% $75.1M+155.1% $29.4M-24.4% $38.9M-30.0% $55.6M+101.0% $27.7M
EPS (Diluted) $2.79+103.6% $1.37-21.3% $1.74-28.4% $2.43+155.8% $0.95-24.6% $1.26-30.4% $1.81+101.1% $0.90

BOOT Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q3'23 Q2'23
Total Assets $2.4B+6.3% $2.3B+7.8% $2.1B+4.0% $2.0B+7.8% $1.9B+5.2% $1.8B+6.0% $1.7B+6.0% $1.6B
Current Assets $1.1B+9.3% $967.3M+6.4% $908.7M+1.0% $899.4M+11.4% $807.1M+6.8% $756.0M+2.8% $735.1M+9.3% $672.6M
Cash & Equivalents $200.1M+209.1% $64.7M-32.1% $95.3M-37.7% $152.9M+309.1% $37.4M-55.2% $83.4M-22.2% $107.2M+177.2% $38.7M
Inventory $805.5M-5.8% $855.1M+10.5% $774.1M+12.1% $690.3M-3.2% $713.0M+13.7% $627.1M+11.3% $563.4M-3.8% $585.6M
Accounts Receivable $14.2M+40.7% $10.1M+18.4% $8.5M-16.7% $10.2M+29.8% $7.9M-0.4% $7.9M-23.7% $10.4M+11.4% $9.3M
Goodwill $197.5M0.0% $197.5M0.0% $197.5M0.0% $197.5M0.0% $197.5M0.0% $197.5M0.0% $197.5M0.0% $197.5M
Total Liabilities $1.1B+6.1% $1.1B+14.0% $922.4M0.0% $922.4M+8.5% $850.1M+7.3% $792.6M+3.9% $762.6M+5.1% $725.8M
Current Liabilities $441.4M+7.0% $412.4M+15.0% $358.7M-12.3% $409.1M+14.1% $358.4M+10.9% $323.1M-6.0% $343.6M+4.5% $328.8M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $1.3B+6.5% $1.2B+2.9% $1.2B+7.4% $1.1B+7.3% $1.0B+3.5% $981.8M+7.8% $910.9M+6.9% $852.4M
Retained Earnings $1.1B+8.6% $999.6M+4.4% $957.4M+10.5% $866.4M+9.5% $791.4M+3.9% $761.9M+9.9% $693.6M+8.7% $638.0M

BOOT Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q3'23 Q2'23
Operating Cash Flow $209.7M+714.8% $25.7M-65.2% $73.8M-53.0% $157.1M+2122.7% -$7.8M-118.8% $41.3M-56.5% $95.0M+27.2% $74.7M
Capital Expenditures $61.7M+42.8% $43.2M+37.4% $31.5M-26.8% $43.0M+12.1% $38.3M+41.6% $27.1M+1.7% $26.6M-23.5% $34.8M
Free Cash Flow $148.0M+945.8% -$17.5M-141.3% $42.4M-62.9% $114.2M+347.7% -$46.1M-423.7% $14.2M-79.2% $68.4M+71.5% $39.9M
Investing Cash Flow -$61.7M-41.8% -$43.5M-38.3% -$31.5M+26.7% -$42.9M-11.9% -$38.3M-41.6% -$27.1M-1.7% -$26.6M+23.5% -$34.8M
Financing Cash Flow -$12.7M+1.2% -$12.8M+23.9% -$16.8M-1400.3% $1.3M+1249.0% $96K+101.4% -$6.7M-6086.6% $112K+100.6% -$18.3M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $12.5M0.0% $12.5M0.0% $12.5M N/A N/A N/A N/A N/A

BOOT Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q3'24 Q2'24 Q1'24 Q3'23 Q2'23
Gross Margin 39.9%+3.4pp 36.4%-2.7pp 39.1%-0.2pp 39.3%+3.4pp 35.9%-1.1pp 37.0%-1.2pp 38.3%+2.5pp 35.8%
Operating Margin 16.3%+5.1pp 11.2%-2.9pp 14.0%-2.3pp 16.4%+7.0pp 9.4%-2.5pp 11.9%-2.6pp 14.4%+4.1pp 10.3%
Net Margin 12.2%+3.8pp 8.3%-2.2pp 10.6%-1.7pp 12.3%+5.4pp 6.9%-2.3pp 9.2%-1.5pp 10.7%+3.3pp 7.4%
Return on Equity 6.7%+3.2pp 3.5%-1.1pp 4.6%-2.3pp 6.9%+4.0pp 2.9%-1.1pp 4.0%-2.1pp 6.1%+2.9pp 3.3%
Return on Assets 3.6%+1.7pp 1.9%-0.7pp 2.5%-1.2pp 3.7%+2.1pp 1.6%-0.6pp 2.2%-1.1pp 3.3%+1.6pp 1.8%
Current Ratio 2.40+0.1 2.35-0.2 2.53+0.3 2.20-0.1 2.25-0.1 2.34+0.2 2.14+0.1 2.05
Debt-to-Equity 0.870.0 0.87+0.1 0.79-0.1 0.850.0 0.84+0.0 0.81-0.0 0.84-0.0 0.85
FCF Margin 21.0%+24.4pp -3.5%-11.9pp 8.4%-10.4pp 18.8%+29.6pp -10.8%-14.2pp 3.4%-9.8pp 13.1%+2.5pp 10.7%

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Frequently Asked Questions

What is Boot Barn Hldgs Inc's annual revenue?

Boot Barn Hldgs Inc (BOOT) reported $1.9B in total revenue for fiscal year 2025. This represents a 14.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Boot Barn Hldgs Inc's revenue growing?

Boot Barn Hldgs Inc (BOOT) revenue grew by 14.6% year-over-year, from $1.7B to $1.9B in fiscal year 2025.

Is Boot Barn Hldgs Inc profitable?

Yes, Boot Barn Hldgs Inc (BOOT) reported a net income of $180.9M in fiscal year 2025, with a net profit margin of 9.5%.

What is Boot Barn Hldgs Inc's earnings per share (EPS)?

Boot Barn Hldgs Inc (BOOT) reported diluted earnings per share of $5.88 for fiscal year 2025. This represents a 22.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Boot Barn Hldgs Inc's EBITDA?

Boot Barn Hldgs Inc (BOOT) had EBITDA of $302.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Boot Barn Hldgs Inc's gross margin?

Boot Barn Hldgs Inc (BOOT) had a gross margin of 37.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Boot Barn Hldgs Inc's operating margin?

Boot Barn Hldgs Inc (BOOT) had an operating margin of 12.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Boot Barn Hldgs Inc's net profit margin?

Boot Barn Hldgs Inc (BOOT) had a net profit margin of 9.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Boot Barn Hldgs Inc's return on equity (ROE)?

Boot Barn Hldgs Inc (BOOT) has a return on equity of 16.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Boot Barn Hldgs Inc's free cash flow?

Boot Barn Hldgs Inc (BOOT) generated -$753K in free cash flow during fiscal year 2025. This represents a -100.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Boot Barn Hldgs Inc's operating cash flow?

Boot Barn Hldgs Inc (BOOT) generated $147.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Boot Barn Hldgs Inc's total assets?

Boot Barn Hldgs Inc (BOOT) had $2.0B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Boot Barn Hldgs Inc's capital expenditures?

Boot Barn Hldgs Inc (BOOT) invested $148.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Boot Barn Hldgs Inc have outstanding?

Boot Barn Hldgs Inc (BOOT) had 31M shares outstanding as of fiscal year 2025.

What is Boot Barn Hldgs Inc's current ratio?

Boot Barn Hldgs Inc (BOOT) had a current ratio of 2.45 as of fiscal year 2025, which is generally considered healthy.

What is Boot Barn Hldgs Inc's debt-to-equity ratio?

Boot Barn Hldgs Inc (BOOT) had a debt-to-equity ratio of 0.78 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Boot Barn Hldgs Inc's return on assets (ROA)?

Boot Barn Hldgs Inc (BOOT) had a return on assets of 9.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Boot Barn Hldgs Inc's Altman Z-Score?

Boot Barn Hldgs Inc (BOOT) has an Altman Z-Score of 6.14, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Boot Barn Hldgs Inc's Piotroski F-Score?

Boot Barn Hldgs Inc (BOOT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Boot Barn Hldgs Inc's earnings high quality?

Boot Barn Hldgs Inc (BOOT) has an earnings quality ratio of 0.82x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Boot Barn Hldgs Inc?

Boot Barn Hldgs Inc (BOOT) scores 59 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.