Latest Ratios: P/E Ratio 21.5x · EV/EBITDA 14.3x · ROE 18.4%. (2013–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.8B | $4.6B | $3.2B | $2.9B | $2.3B | $2.9B | $1.9B | $391M | $848M | $488M | $266M |
| Enterprise Value | $5.4B | $5.2B | $3.7B | $3.3B | $2.8B | $3.2B | $2.1B | $756M | $1.0B | $695M | $496M |
| P/E Ratio → | 21.46 | 20.30 | 17.72 | 19.82 | 13.64 | 15.25 | 31.49 | 8.15 | 21.81 | 16.89 | 18.66 |
| P/S Ratio | 2.12 | 2.03 | 1.68 | 1.75 | 1.40 | 1.97 | 2.09 | 0.46 | 1.09 | 0.72 | 0.42 |
| P/B Ratio | 3.68 | 3.48 | 2.83 | 3.09 | 3.00 | 4.89 | 4.73 | 1.21 | 3.21 | 2.27 | 1.48 |
| P/FCF | 37.88 | 36.30 | — | 24.83 | — | 103.22 | 14.63 | — | 23.74 | 24.67 | 14.13 |
| P/OCF | 15.70 | 15.04 | 21.73 | 12.34 | 26.19 | 33.01 | 11.97 | 15.43 | 13.41 | 11.04 | 6.47 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.32 | 1.94 | 1.98 | 1.66 | 2.16 | 2.38 | 0.89 | 1.31 | 1.03 | 0.79 |
| EV / EBITDA | 14.34 | 13.81 | 12.25 | 13.33 | 8.74 | 9.91 | 14.68 | 5.99 | 12.22 | 10.97 | 9.11 |
| EV / EBIT | 18.11 | 17.45 | 15.31 | 16.55 | 11.90 | 12.46 | 24.50 | 10.27 | 15.81 | 15.03 | 13.13 |
| EV / FCF | — | 41.31 | — | 28.16 | — | 113.27 | 16.66 | — | 28.47 | 35.14 | 26.33 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.1% | 38.1% | 37.5% | 36.9% | 36.8% | 38.6% | 33.0% | 32.7% | 32.4% | 30.7% | 30.1% |
| Operating Margin | 13.3% | 13.3% | 12.5% | 11.9% | 14.0% | 17.4% | 9.7% | 8.7% | 8.3% | 6.8% | 6.0% |
| Net Profit Margin | 10.0% | 10.0% | 9.5% | 8.8% | 10.3% | 12.9% | 6.6% | 5.7% | 5.0% | 4.3% | 2.3% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.4% | 18.4% | 17.4% | 17.1% | 24.8% | 38.7% | 16.6% | 16.4% | 16.3% | 14.6% | 8.3% |
| ROA | 9.6% | 9.6% | 9.7% | 9.1% | 12.6% | 18.0% | 6.4% | 6.1% | 6.4% | 5.0% | 2.6% |
| ROIC | 12.6% | 12.6% | 12.1% | 11.7% | 16.6% | 25.2% | 9.7% | 9.9% | 11.3% | 8.3% | 6.9% |
| ROCE | 15.2% | 15.2% | 15.7% | 15.6% | 23.1% | 32.8% | 13.0% | 13.4% | 14.0% | 10.8% | 9.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.59 | 0.59 | 0.50 | 0.49 | 0.58 | 0.51 | 0.84 | 1.35 | 0.70 | 1.01 | 1.32 |
| Debt / EBITDA | 2.05 | 2.05 | 1.87 | 1.88 | 1.42 | 0.94 | 2.29 | 3.45 | 2.23 | 3.41 | 4.37 |
| Net Debt / Equity | — | 0.48 | 0.44 | 0.41 | 0.55 | 0.48 | 0.65 | 1.13 | 0.64 | 0.96 | 1.28 |
| Net Debt / EBITDA | 1.67 | 1.67 | 1.63 | 1.58 | 1.36 | 0.88 | 1.78 | 2.89 | 2.03 | 3.27 | 4.22 |
| Debt / FCF | — | 5.01 | — | 3.33 | — | 10.05 | 2.02 | — | 4.73 | 10.46 | 12.20 |
| Interest Coverage | 195.90 | 195.90 | 161.40 | 89.19 | 39.41 | 44.70 | 9.18 | 5.53 | 3.94 | 3.07 | 2.57 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.64 | 2.64 | 2.45 | 2.33 | 1.79 | 1.61 | 1.69 | 1.23 | 1.83 | 1.60 | 1.52 |
| Quick Ratio | 0.48 | 0.48 | 0.33 | 0.42 | 0.21 | 0.20 | 0.45 | 0.31 | 0.24 | 0.20 | 0.24 |
| Cash Ratio | 0.36 | 0.36 | 0.20 | 0.24 | 0.05 | 0.06 | 0.33 | 0.22 | 0.11 | 0.06 | 0.05 |
| Asset Turnover | — | 0.85 | 0.95 | 0.98 | 1.09 | 1.24 | 0.96 | 0.91 | 1.22 | 1.15 | 1.11 |
| Inventory Turnover | 1.65 | 1.65 | 1.60 | 1.76 | 1.78 | 1.93 | 2.17 | 1.97 | 2.18 | 2.22 | 2.33 |
| Days Sales Outstanding | — | 3.79 | 3.56 | 4.43 | 2.89 | 2.91 | 5.22 | 7.45 | 4.52 | 5.50 | 5.81 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 4.9% | 5.6% | 5.0% | 7.3% | 6.6% | 3.2% | 12.3% | 4.6% | 5.9% | 5.4% |
| FCF Yield | 2.6% | 2.8% | — | 4.0% | — | 1.0% | 6.8% | — | 4.2% | 4.1% | 7.1% |
| Buyback Yield | 1.2% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.2% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $31M | $31M | $31M | $30M | $30M | $29M | $29M | $29M | $28M | $27M |
Leadership transition and execution
Based on current market data, BOOT trades at a forward P/E of 24.23, which suggests that investors are pricing in significant future unit growth rather than viewing the company as a mature, cyclical apparel retailer, according to recent institutional valuation benchmarks for high-growth specialty retail.
The current valuation multiple appears to reflect a premium for the company's aggressive 900-store expansion target and its ability to capture white-space in the Northeast and Midwest. Investors should monitor whether this growth-oriented pricing remains sustainable if same-store sales growth decelerates following the post-pandemic western-wear fashion surge.
As reported in financial statements, ROIC has fluctuated between 2.1% and 5.0% over the last ten quarters, indicating that the company's rapid store rollout strategy currently suppresses overall capital efficiency as new locations undergo initial ramp-up periods before reaching full profitability.
The relatively low ROIC suggests that the company is in a heavy investment phase where capital is being deployed into long-term assets that have yet to fully contribute to earnings. Analysts should investigate whether the return profile improves as the store base matures and the company achieves greater economies of scale.
According to quarterly filings, the cash conversion cycle remains elevated, peaking at 190 days in 2025Q4, which highlights the company's reliance on significant inventory build-ups to support its seasonal retail model and the inherent risks of managing a large-format physical footprint.
The high days-inventory-outstanding (DIO) figures suggest that the company must maintain substantial stock levels to ensure product availability, which ties up significant liquidity. This working capital intensity warrants close monitoring, as any mismatch between inventory procurement and consumer demand could lead to margin-diluting markdowns.
Based on the reported figures, the debt-to-equity ratio of 0.59% indicates a conservative capital structure that provides the company with sufficient flexibility to fund its ongoing expansion without excessive reliance on external financing, as noted in recent balance sheet disclosures.
The company's interest coverage ratio remains healthy, suggesting that debt service is well-supported by current operating income. However, investors should remain cautious regarding the potential impact of ASC 842 lease liabilities, which may understate the true extent of the company's contractual obligations if not treated as debt-equivalents.
Institutional research suggests that the P/E ratio is frequently misapplied to this business model because it fails to account for the significant non-cash store pre-opening expenses that temporarily depress earnings during periods of rapid geographic expansion, according to standard retail accounting analysis.
Investors should instead focus on EV/EBITDA or adjusted operating margins to better gauge the underlying earning power of the mature store base. Relying solely on P/E may lead to an inaccurate assessment of the company's profitability, as it ignores the deliberate capital allocation toward future growth.
Includes 30+ ratios · 14 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BOOT stock.
Boot Barn Holdings, Inc.'s current P/E ratio is 21.5x. The historical average is 21.1x. This places it at the 67th percentile of its historical range.
Boot Barn Holdings, Inc.'s current EV/EBITDA is 14.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.4x.
Boot Barn Holdings, Inc.'s return on equity (ROE) is 18.4%. The historical average is 15.3%.
Based on historical data, Boot Barn Holdings, Inc. is trading at a P/E of 21.5x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Boot Barn Holdings, Inc. has 38.1% gross margin and 13.3% operating margin. Operating margin between 10-20% is typical for established companies.
Boot Barn Holdings, Inc.'s Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.