Discounted Cash Flow

Boot Barn Holdings, Inc.

BOOT · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2017 $629.8m $14.2m $18.9m 2.3% $0.54
2018 $677.9m (7.6%) $28.9m (103.4%) $19.8m (4.9%) 4.3% (89.0%) $1.08 (100.0%)
2019 $776.9m (14.6%) $39.0m (35.1%) $35.7m (80.6%) 5.0% (17.9%) $1.39 (28.7%)
2020 $845.6m (8.8%) $47.9m (22.9%) $-11.9m (-133.2%) 5.7% (12.9%) $1.68 (20.9%)
2021 $893.5m (5.7%) $59.4m (23.9%) $127.5m (1173.4%) 6.6% (17.2%) $2.05 (22.0%)
2022 $1.5b (66.6%) $192.4m (224.1%) $28.4m (-77.7%) 12.9% (94.6%) $6.51 (217.6%)
2023 $1.7b (11.4%) $170.6m (-11.4%) $-35.6m (-225.4%) 10.3% (-20.4%) $5.72 (-12.1%)
2024 $1.7b (0.6%) $147.0m (-13.8%) $117.3m (429.1%) 8.8% (-14.3%) $4.87 (-14.9%)
2025 $1.9b (14.6%) $180.9m (23.1%) $-753.0k (-100.6%) 9.5% (7.4%) $5.93 (21.8%)
2026 $2.3b (17.9%) $225.9m (24.8%) $126.3m (16878.5%) 10.0% (5.9%) $7.40 (24.8%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model