Boot Barn Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Boot Barn Holdings, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	630	678	777	846	893	1,488	1,658	1,667	1,911	2,254
Cost of revenue	440	470	525	569	599	913	1,047	1,053	1,194	1,396
Gross profit	190	208	251	276	295	575	611	614	717	858
Selling, general and administrative	152	162	187	203	209	317	379	416	478	559
Operating expenses	152	162
Operating income	37.8	46.3	64.3	73.7	86.3	258	232	198	239	299
Other non-operating income			0.01	-0.05	0.37	0.04	-0.03	1.4	2.26	2.97
Pre-tax income	23.1	31.2	48	60.3	77.3	253	226	197	240	301
Income tax	8.92	2.3	8.97	12.4	17.9	60.1	55.3	50.4	59.2	74.7
Net income	14.2	28.9	39	47.9	59.4	192	171	147	181	226
EBITDA	52.4	62.3	82.6	94.9	110	286	268	248	302	378
EPS, basic	0.54	1.08	1.39	1.68	2.05	6.51	5.72	4.87	5.93	7.40
EPS, diluted	0.53	1.05	1.35	1.64	2.01	6.33	5.62	4.80	5.88	7.35
Shares, basic (weighted)	26.5	26.7	28.1	28.6	28.9	29.6	29.8	30.2	30.5	30.5
Shares, diluted (weighted)	26.9	27.5	28.8	29.2	29.5	30.4	30.4	30.6	30.8	30.7

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	8.04	9.02	16.6	69.6	73.1	20.7	18.2	75.8	69.8	141
Receivables	4.35	4.39	8.1	12.1	12.8	9.66	13.1	9.96	10.3	15.3
Inventory	189	211	241	289	276	474	589	599	747	845
Other current assets	1.98	4.25	1.87	2.02	2.92	6.66	7.12	7.07	7.55	7.14
Total current assets	224	241	277	385	374	542	669	730	864	1,034
Property, plant and equipment	82.7	89.2	98.7	110	110	155	257	324	422	514
Lease right-of-use assets				160	179	231	317	382	462	631
Goodwill	193	193	196	198	198	198	198	198	198	198
Intangible assets	64.5	63.4	62.8	61	60.9	60.8	60.8	58.7	58.7	59
Other non-current assets	0.96	1.13	1.37	1.74	3.47	3.32	6.19	5.58	6.34	6.66
Total assets	566	588	636	925	934	1,200	1,517	1,706	2,018	2,450
Accounts payable	77.5	90	105	95.3	105	131	134	133	134	142
Accrued liabilities	36	40	47	52.6	77.6	133	123	116	146	159
Deferred revenue	8.04	9.53	10.2
Total current liabilities	148	151	152	313	222	336	375	313	353	391
Long-term debt	192	183	174	109	110
Lease liabilities				148	168	218	315	389	477	671
Other non-current liabilities	17.6	18.8	21.8	0.64	3.42	2.23	2.75	3.81	4.12	5
Total liabilities	386	373	372	603	539	600	741	762	887	1,131
Paid-in capital	142	148	159	169	184	199	210	233	247	263
Retained earnings	37.8	66.7	106	154	213	405	576	723	904	1,130
Treasury stock	-0.07	-0.19	-0.67	-1.2	-1.95	-4.86	-9.55	-12	-19.6	-74.4
Shareholders' equity	180	215	264	322	395	600	776	944	1,131	1,319
Minority interests	0
Total equity	180	215	264	322	395	600	776	944	1,131	1,319
Total liabilities and equity	566	588	636	925	934	1,200	1,517	1,706	2,018	2,450
Shares outstanding	26.6	27.3	28.3	28.8	29.3	29.7	29.9	30.3	30.6	30.4

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	14.2	28.9	39	47.9	59.4	192	171	147	181	226
Depreciation and amortization	14.6	16	18.3	21.2	24.1	27.3	35.9	49.5	62.5	78.7
Stock-based compensation	3.02	2.25	2.87	4.91	7.16	9.48	9.71	12.9	11	16.1
Deferred income tax	6.18	1.86	4.17	2.6	2.19	4.9	6.37	8.77	-2.72	12.4
Change in receivables	-0.22	-0.04	-3.71	5.72	8.05	5.22	-2.72	3.28	-0.24	-4.87
Change in inventory	-12.8	-24.6	-27.7	-45.6	13	-199	-115	-9.63	-148	-97.4
Change in payables	10.5	13.1	14.2	-13.8	12.4	25.5	-2.64	0.43	0.21	8.16
Cash from operations	41.2	44.2	63.3	25.3	156	88.9	88.9	236	148	305
Capital expenditures	-22.3	-24.4	-27.5	-37.2	-28.4	-60.4	-125	-119	-148	-179
Acquisitions	-1.31		-4.42	-3.69
Cash from investing	-23.6	-23.6	-31.8	-40.2	-28.4	-60.4	-125	-119	-148	-179
Stock issued	1.28	3.7	8.14	5.2	7.41	5.76	1.2	9.74	3.11	0.43
Share buybacks										-50
Cash from financing	-16.7	-19.7	-23.9	67.8	-124	-80.9	33.2	-59.6	-5.38	-54.8
Net change in cash	0.84	0.98	7.6	52.9	3.59	-52.5	-2.48	57.7	-6.08	71.3
Free cash flow	18.9	19.8	35.7	-11.9	127	28.4	-35.6	117	-0.75	126
Interest paid	13.6	13.7	14.9	12	8.8	3.81	5.84	2.39	1.38	1.4
Income taxes paid	4.19	0.61	0.65	13.4	11.5	41.7	60.2	57.2	59.9	62

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $123.30 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	38.5%	Gross profit / revenue.
Operating margin	13.6%	Operating income / revenue.
EBITDA margin	17.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	13.7%	Pre-tax income / revenue.
Net margin	10.4%	Net income / revenue.
FCF margin	5.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.4%	Cash from operations / revenue.
Effective tax rate	24.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	17.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	9.4%	Net income / average total assets.
Return on invested capital (ROIC)	19.7%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	24.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	8.5%	Capital expenditures / revenue.
D&A / revenue	3.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	17.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	20.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	19.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	12.0%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	23.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	25.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	8.9%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	28.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	25.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	12.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	27.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	24.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	9.8%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	30.6%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	25.0%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	9.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	29.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	106.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	50.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	14.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-0.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	16.6%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	19.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	27.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	21.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	17.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	21.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.53x	Current assets / current liabilities.
Quick ratio	0.39x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.32x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	47.1%	Total liabilities / total assets.
Working capital	$661.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	10.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$1.10B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.91x	Revenue / average total assets.
Fixed asset turnover	4.32x	Revenue / average property, plant and equipment.
Inventory turnover	1.60x	Cost of revenue / average inventory.
Days inventory	228 days	365 x average inventory / cost of revenue.
Receivables turnover	79.7x	Revenue / average receivables.
Days sales outstanding	5 days	365 x average receivables / revenue.
Days payables	45 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	188 days	Days inventory + days sales outstanding - days payables.
FCF conversion	48.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	62.9%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$7.93	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$76.58	Revenue / diluted weighted shares.
FCF per share	$3.81	Free cash flow / diluted weighted shares.
Operating cash flow per share	$10.29	Cash from operations / diluted weighted shares.
Book value per share	$44.80	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$36.34	Tangible book value / shares outstanding.
Cash per share	$4.59	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	53.6%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$3.73B	Share price x shares outstanding.
Enterprise value	$3.59B	Market cap + total debt - cash - short-term investments.
P/E	15.4x	Market cap / net income. Only when net income is positive.
P/S	1.59x	Market cap / revenue.
P/B	2.75x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.39x	Market cap / tangible book value, when positive.
P/FCF	32.0x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	11.9x	Market cap / cash from operations, when positive.
EV/Sales	1.53x	Enterprise value / revenue.
EV/EBIT	11.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	8.93x	Enterprise value / EBITDA, when both are positive.
EV/FCF	30.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.1%	Free cash flow / market cap.
Earnings yield	6.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.7%	(Dividends paid + share buybacks) / market cap.
PEG	1.64x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Boot Barn Holdings, Inc.'s revenue in fiscal 2026?

Boot Barn Holdings, Inc. reported revenue of $2.25B for fiscal 2026, 17.9% higher than the year before.

Was Boot Barn Holdings, Inc. profitable in fiscal 2026?

Yes. Net income was $225.9M, a net margin of 10%.

How much free cash flow did Boot Barn Holdings, Inc. generate in fiscal 2026?

Cash from operations of $304.9M minus capital expenditures of $178.6M left free cash flow of $126.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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