Stock fact sheet · data as of
Boot Barn Holdings, Inc. (BOOT): fair value, margin of safety and Wheel Score
Consumer Cyclical · Apparel - Retail · United States · High Growth
Is BOOT undervalued?
Boot Barn Holdings, Inc. (BOOT) closed at 120.62 on 16 Oct 2026, close to the GLS average fair value of 116.86 (3.2% above fair value). 3 of the 8 models that produced a number sit above the price, 5 below - the market and our models roughly agree. With little margin of safety either way, the case for or against the stock rests on the quality numbers and the option premium rather than on price.
The 8 models disagree widely: Lynch gives 6.06 while GLS Growth gives 348.74. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files BOOT under High Growth: revenue and earnings growing fast enough that the growth-based models carry the valuation.
Nine valuation models for BOOT
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 19.49 | -84% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 89.70 | -26% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 78.26 | -35% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 6.06 | -95% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 348.74 | +189% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 168.03 | +39% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 135.82 | +13% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 88.78 | -26% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -10.38 | -109% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 209.50 | +74% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - BOOT passes 6 of the nine Piotroski tests, which passes the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is 7.9 out of 10, built from ten years of revenue, earnings, margins, cash flow, share count and returns on capital scored for consistency - a high reading that points to a durable business.
Returns on capital are moderate - ROIC 10.8%, ROE 17.1%, ROA 8.5% - with debt at 0.59 times equity and a free-cash-flow yield of 3.2%.
Boot Barn Holdings, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Single Reportable 100% (quarter Q1 FY2027).
Institutional ownership scores 10/10, insider activity 1/10 and Congressional trading 10/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 10.8% |
|---|---|---|---|
| GLS Moat | 7.9 / 10 | ROE | 17.1% |
| Debt / equity | 0.59 | ROA | 8.5% |
| Free-cash-flow yield | 3.2% | Payout ratio | 0% |
| Institutions | 10 / 10 | Insiders · Congress | 1 · 10 / 10 |
Wheel Score 71: Good
BOOT scores 71 out of 100 on the Wheel Score (Good band, 65-79). The score blends the margin of safety (Value, 11/25), Piotroski health (13/20), the GLS moat (12/15), the option premium on offer (20/20) and how easily the stock trades (15/20). Value (11/25) is the part holding the score back.
Implied volatility is 57% on the near-the-money contracts 20-60 days out - inside the 35-60% range the Wheel Score pays full marks for: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is 4,017 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 1.1M shares a day on a market cap of $3.7B, with a beta of 1.76 - a high beta, so the stock tends to move more than the market and a strike can be gapped through; the Stability part of the Wheel Score gives that 15 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 11 / 25 | -3% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 12 / 15 | moat 7.9/10 | |
| Premium | 20 / 20 | implied volatility 57% | |
| Stability | 15 / 20 | 1.1M shares/day, $3.7B cap, beta 1.76 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 4 Nov 2026 (after the close), 19 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Apparel - Retail
The 12 companies below are the closest to Boot Barn Holdings, Inc. by market cap within the Apparel - Retail industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| AEO American Eagle Outfitters, Inc. | 18.05 | 18.32 | +1% | 71Good | $3.0B |
| BKE The Buckle, Inc. | 46.57 | 50.55 | +8% | 70Good | $2.4B |
| ANF Abercrombie & Fitch Co. | 152.07 | 291.83 | +48% | 86Prime | $6.5B |
| VSXY Victoria's Secret & Company | 88.39 | 75.84 | -17% | 67Good | $7.1B |
| URBN Urban Outfitters, Inc. | 84.68 | 132.92 | +36% | 92Prime | $7.3B |
| GAP The Gap, Inc. | 23.46 | 76.74 | +69% | 84Prime | $8.2B |
| CRI Carter's Inc. | 32.64 | 88.45 | +63% | 78Good | $1.2B |
| LULU Lululemon Athletica Inc. | 99.09 | 240.75 | +59% | 89Prime | $11.5B |
| BURL Burlington Stores, Inc. | 267.79 | 361.33 | +26% | 86Prime | $16.8B |
| CAL Caleres, Inc. | 13.14 | 42.46 | +69% | 75Good | $453M |
| CTRN Citi Trends, Inc. | 49.94 | 20.51 | -144% | 30Weak | $416M |
| GCO Genesco Inc. | 37.42 | 116.09 | +68% | 68Good | $405M |
⚖ Compare BOOT with 7 of them All Consumer Cyclical stocks →
Screen the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about BOOT
Is BOOT undervalued right now?
Not meaningfully: at 120.62 the stock trades within a few percent of the GLS average fair value of 116.86 (3.2% above fair value, data as of 16 Oct 2026).
What is the Wheel Score of BOOT and what does it mean?
BOOT scores 71 out of 100 (Good). The Wheel Score blends the margin of safety (25 points), Piotroski health (20), the GLS moat (15), the option premium on offer (20) and trading stability (20) into one number that ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned. 80 and above is Prime, 65-79 Good, 50-64 Fair, under 50 Weak.
What is the GLS fair value for BOOT?
116.86 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Boot Barn Holdings, Inc. report earnings next?
The next earnings report is due on 4 Nov 2026 (after the close), 19 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does BOOT have listed options, and how liquid are they?
Yes. The nightly snapshot found 280 listed contracts with 4,017 open interest across all expiries and implied volatility of 57% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.