Boot Barn Holdings, Inc.
BOOT · Retail-Shoe Stores · 30.3M shares · +1%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $37M (gross $50M, SBC $13M)
Reference price $160.31 · est. market cap ~$4.9B — last insider sale, 2026-05-26 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B76Profitable, growing specialty retailer (western/work wear) — strong returns and free cash flow.
Strengths
- Profitable and growing — operating margin 13% (79th), ROA 9% (86th), revenue +18%
- Solid free cash flow — FCF $126M (74th)
Risks
- Thin quick liquidity — quick ratio 0.5 (10th)
- Discretionary-retail cyclicality — per 10-K
- Tariff/sourcing exposure — per 10-K
Notable findings
- Customer concentration~31% of revenue from one customer/distributor — In fiscal 2026, fiscal 2025 and fiscal 2024, we generated approximately 31%, 32% and 31% of our net sales during our third fiscal quarter, respectively
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $141M cash & investments
- New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
- Insider sellingInsider selling — 2 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, last 6mo) Form 4 ↗
- Revenue declineRevenue -23.7% YoY
- Notable holderHeld by 6 notable fund(s): FMR LLC, STATE STREET CORP, CITADEL ADVISORS LLC +3 more (as of 2026-03-31)
- AccumulatingInstitutional holders rose 8→9 QoQ (2025-12-31→2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
38.1%
Operating margin
13.3%
Net margin
10.0%
Return on equity
17.1%
Return on assets
9.2%
Revenue growth (QoQ)
-23.7%
Net-income growth
24.8%
Current ratio
2.6×
Free cash flow
$126M
Tangible book value
$1.1B
Cash & investments
$141M
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-26 | Kosoff Jonathon David | Sell | 230 | $160.31 |
| 2026-05-20 | Hazen John | Grant | 14K | — |
| 2026-05-20 | Grijalva Laurie Marie | Grant | 14K | — |
| 2026-05-20 | Watkins James M | Tax withheld | 6.9K | $142.27 |
| 2026-05-20 | Hazen John | Tax withheld | 6.9K | $142.27 |
| 2026-05-20 | Watkins James M | Grant | 14K | — |
| 2026-05-20 | Love Michael A | Grant | 14K | — |
| 2026-05-20 | Grijalva Laurie Marie | Tax withheld | 6.9K | $142.27 |
| 2026-05-20 | Love Michael A | Tax withheld | 5.3K | $142.27 |
| 2026-05-19 | Hazen John | Tax withheld | 1.0K | $141.54 |
| 2026-05-19 | Grijalva Laurie Marie | Tax withheld | 1.0K | $141.54 |
| 2026-05-19 | Love Michael A | Tax withheld | 810 | $141.54 |
| 2026-05-18 | STARRETT PETER | Grant | 1.0K | — |
| 2026-05-18 | Kosoff Jonathon David | Grant | 3.0K | — |
| 2026-05-18 | Love Michael A | Grant | 4.1K | — |
| 2026-05-18 | Hazen John | Grant | 17K | — |
| 2026-05-18 | Weston Bradley Morgan | Grant | 1.0K | — |
| 2026-05-18 | Grijalva Laurie Marie | Grant | 4.1K | — |
| 2026-05-18 | Burt Gene Eddie | Grant | 1.0K | — |
| 2026-05-18 | Bruzzo Chris | Grant | 1.0K | — |
| 2026-05-18 | Morris Brenda I | Grant | 1.0K | — |
| 2026-05-18 | Laube Lisa | Grant | 1.0K | — |
| 2026-05-18 | MACDONALD ANNE | Grant | 1.0K | — |
| 2026-05-18 | Watkins James M | Grant | 4.6K | — |
| 2026-05-16 | Grijalva Laurie Marie | Tax withheld | 1.2K | $141.09 |
| 2026-05-16 | Hazen John | Tax withheld | 3.1K | $141.09 |
| 2026-05-16 | Love Michael A | Tax withheld | 893 | $141.09 |
| 2026-05-16 | Kosoff Jonathon David | Tax withheld | 268 | $141.09 |
| 2026-02-25 | Morris Brenda I | Sell | 1.0K | $197.74 |
| 2025-12-01 | Burt Gene Eddie | Sell | 1.2K | $191.41 |
| 2025-11-20 | Watkins James M | Gift | 2.0K | — |
| 2025-11-03 | STARRETT PETER | Sell | 6.5K | $190.00 |
| 2025-11-03 | Watkins James M | Tax withheld | 176 | $191.17 |
| 2025-08-26 | Grijalva Laurie Marie | Sell | 7.5K | $172.14 |
| 2025-08-21 | Morris Brenda I | Sell | 1.5K | $170.00 |
| 2025-05-23 | Love Michael A | Sell | 2.6K | $155.14 |
| 2025-05-23 | Love Michael A | Sell | 1.5K | $155.68 |
| 2025-05-22 | Grijalva Laurie Marie | Sell | 2.4K | $160.67 |
| 2025-05-19 | Grijalva Laurie Marie | Tax withheld | 737 | $160.94 |
| 2025-05-19 | Watkins James M | Tax withheld | 737 | $160.94 |
| 2025-05-19 | Love Michael A | Tax withheld | 502 | $160.94 |
| 2025-05-19 | Hazen John | Tax withheld | 1.0K | $160.94 |
| 2025-05-16 | Kosoff Jonathon David | Grant | 2.2K | — |
| 2025-05-16 | Love Michael A | Tax withheld | 400 | $156.71 |
| 2025-05-16 | Love Michael A | Grant | 3.7K | — |
| 2025-05-16 | Hazen John | Tax withheld | 834 | $156.71 |
| 2025-05-16 | Hazen John | Grant | 13K | — |
| 2025-05-16 | Watkins James M | Tax withheld | 588 | $156.71 |
| 2025-05-16 | Watkins James M | Grant | 4.1K | — |
| 2025-05-16 | Grijalva Laurie Marie | Tax withheld | 588 | $156.71 |
| 2025-05-16 | Grijalva Laurie Marie | Grant | 3.7K | — |
| 2025-05-16 | Bruzzo Chris | Grant | 926 | — |
| 2025-05-16 | Laube Lisa | Grant | 926 | — |
| 2025-05-16 | MACDONALD ANNE | Grant | 926 | — |
| 2025-05-16 | Morris Brenda I | Grant | 926 | — |
| 2025-05-16 | Weston Bradley Morgan | Grant | 926 | — |
| 2025-05-16 | Burt Gene Eddie | Grant | 926 | — |
| 2025-05-16 | STARRETT PETER | Grant | 5.7K | — |
| 2025-05-14 | Grijalva Laurie Marie | Tax withheld | 248 | $132.84 |
| 2025-05-14 | Hazen John | Tax withheld | 353 | $132.84 |
| 2025-05-14 | Love Michael A | Tax withheld | 112 | $132.84 |
| 2025-05-12 | Love Michael A | Tax withheld | 328 | $133.30 |
| 2025-05-12 | Hazen John | Tax withheld | 681 | $133.30 |
| 2025-05-12 | Grijalva Laurie Marie | Tax withheld | 480 | $133.30 |
| 2025-01-02 | Hazen John | Option exercise | 3.1K | $20.94 |
| 2025-01-02 | Hazen John | Option exercise | 3.3K | $24.08 |
| 2025-01-02 | Hazen John | Sell | 354 | $151.47 |
| 2025-01-02 | Hazen John | Sell | 5.3K | $152.95 |
| 2025-01-02 | Hazen John | Sell | 614 | $154.06 |
| 2025-01-02 | Hazen John | Sell | 33 | $154.65 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-14 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-04 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-09 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-05 | Exec/director change | filing ↗ |
| 2025-10-29 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-28 | Shareholder vote | filing ↗ |
| 2025-07-31 | ResultsReg FDExhibits | filing ↗ |
| 2025-06-02 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-14 | 2026-05-14 | 0001104659-26-061169 ↗ |
| 10-K | 2026-05-14 | 2026-03-28 | 0001104659-26-061346 ↗ |
| 10-Q | 2026-02-05 | 2025-12-27 | 0001104659-26-010386 ↗ |
| 8-K | 2026-02-04 | 2026-02-04 | 0001104659-26-010309 ↗ |
| 8-K | 2026-01-09 | 2026-01-09 | 0001104659-26-002514 ↗ |
| 8-K | 2026-01-05 | 2025-12-31 | 0001104659-26-000612 ↗ |
| 10-Q | 2025-11-03 | 2025-09-27 | 0001104659-25-105082 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001104659-25-103720 ↗ |
| 8-K | 2025-08-28 | 2025-08-27 | 0001558370-25-011801 ↗ |
| 10-Q | 2025-07-31 | 2025-06-28 | 0001558370-25-009902 ↗ |
| 8-K | 2025-07-31 | 2025-07-31 | 0001558370-25-009888 ↗ |
| 8-K | 2025-06-02 | 2025-06-02 | 0001558370-25-008343 ↗ |