Boot Barn Holdings, Inc. (BOOT) Stock

Boot Barn Holdings, Inc. (BOOT) is a Consumer Discretionary stock trading at $160.22 (as of 2026-08-20), with a market capitalization of $4.85B and a trailing P/E of 19.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Boot Barn Holdings, Inc. operates specialty retail stores in the United States offering western and work-related footwear, apparel, and accessories for men, women, and kids, along with related gift and home merchandise. It also sells products through e-commerce websites including bootbarn.com, sheplers.com, and countryoutfitter.com.

Understand Boot Barn Holdings, Inc.: how it makes money

Boot Barn operates specialty retail stores in the United States and sells western and work-related footwear, apparel, and accessories, earning money by selling merchandise through its stores and its e-commerce website.

Boot Barn’s operating results are primarily driven by merchandise gross margin and operating efficiency, which depend on product mix and inventory readiness, as shown by Exclusive Brands Volume as a Percentage of Sales and Forward Weeks of Supply.

Revenue by segment (latest quarter)
Net Sales	$0.5B
Other	$0.2B

Business quality (Solid): The business model is straightforward merchandise retail with both store and e-commerce channels, and the provided KPIs point to mix, inventory positioning, loyalty engagement, and store growth as the key operational levers. The main limitation for investors is that only one explicit revenue line item was provided, so segment-level context is incomplete.

Valuation: At 23× earnings, BOOT trades 21% above the Retail average (19×). Note: one-time items can distort reported P/E.

Bull case

Exclusive brands are a meaningful share of sales: Exclusive Brands Volume as a Percentage of Sales is 32.2 percent, with Exclusive Brands Penetration at 41.0 percent.
Customer loyalty engagement is sizable: Be Rewarded Loyalty Active Customers are 9,600,000.
Store growth and distribution readiness support scale: New Stores Opened are 25.0, and Forward Weeks of Supply are 24.0.

Bear case

E-commerce mix is still material and may require operational execution: E-commerce as a Percentage of Net Sales is 12.8 percent, and online orders involving a store associate are 60 percent, which increases reliance on in-store fulfillment and service.
Inventory positioning can become a headwind: Forward Weeks of Supply are 24.0, so if inventory planning misses demand, it could affect product availability and merchandise profitability.
Management retention is a known operational risk: Voluntary Store Manager Turnover is 15 percent, which can create staffing and training challenges during expansion.

Valuation — source: SEC EDGAR (first-party)
Price	$160.22
Market Cap	$4.85B
P/E Ratio	19.3
EV / EBITDA	10.1
Price / Book	3.57
Price / Sales	2.10
FCF Yield	5.6%
DCF Value (model)	$154.71
DCF Upside vs Price	-3.4%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$2.25B
Net Margin	10.0%
Revenue Growth (YoY)	17.9%
EPS Growth (YoY)	24.8%
FCF Growth (YoY)	-16878.5%

Financial Health — source: SEC EDGAR
Altman Z-Score	4.86 (safe)

Valuation vs Sector & Industry
Stock P/E	19.3
Sector P/E (Consumer Discretionary)	20.5
Industry P/E (Retail)	19.5
vs Sector	-5.8%
vs Industry	-1.2%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($694.54M)
Institutional Holders Tracked	10
Congressional Trades (recent)	5

Company
Sector	Consumer Discretionary
Industry	Retail
CEO	John Hazen
Employees	3,100
Country	US
IPO Date	2014-10-30

Related Companies (Business model: Brick-and-Mortar Retail (incl. Omnichannel); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.