BOOT
Boot Barn Holdings, Inc.
BOOT has the edge over GME overall, supported by stronger modeled upside and lower modeled downside.
GME
GameStop Corp.
GME offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
BOOT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
BOOT's revenue, profitability, cash flow and balance sheet are all currently healthy.
GME Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Unavailable |
GME's profitability and cash flow are currently strong, and its revenue is stable. There isn't enough data to rate its balance sheet.
BOOT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 13x | $108 | -19% |
| Forward | 15x | $134 | — |
| Current | 16x | $134 | — |
| Fair | 21x | $174 | +30% |
| Expensive | 29x | $240 | +80% |
Historical ranges are pointers, not guarantees.
BOOT's PE is in its fair range at 16x. If earnings grow as analysts expect, today's price would be 15x next year's earnings, in its cheap range.
GME PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 17x | $25.62 | — |
| Cheap | 18x | $27.96 | +9.1% |
| Forward | 38x | $25.62 | — |
| Fair | 43x | $66.84 | +161% |
| Expensive | 252x | $388 | +1414% |
Historical ranges are pointers, not guarantees.
GME has the edge over BOOT in the historical PE scenario, which offers more potential upside but is not a forecast.
BOOT Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
BOOT has the edge over GME on the outlook, with more favorable valuation and earnings expectations.
GME Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong decline | |
| Strong decline | |
| Strongly weakening | |
| Limited | |
| High |
Analysts expect GME's earnings and revenue to decline, with profitability weakening.
BOOT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.00 | +8.9% |
| Q3 2026 | $8.26 | +22% |
| Q2 2026 | $7.90 | +24% |
| Q1 2026 | $7.35 | +25% |
| Q4 2025 | $7.14 | +28% |
| Q3 2025 | $6.78 | +36% |
| Q2 2025 | $6.36 | +29% |
| Q1 2025 | $5.88 | +23% |
| Q4 2024 | $5.60 | +4.3% |
BOOT's earnings per share have climbed steadily: $8.26 over the past year, up 22% from the year before, and higher year over year for eight quarters in a row.
GME Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.67 | -56% |
| Q3 2026 | $1.54 | +93% |
| Q2 2026 | $1.34 | +153% |
| Q1 2026 | $0.77 | +133% |
| Q4 2025 | $0.89 | +394% |
| Q3 2025 | $0.80 | +515% |
| Q2 2025 | $0.53 | +563% |
| Q1 2025 | $0.33 | +1550% |
| Q4 2024 | $0.18 | +$0.21 |
GME's earnings per share have climbed steadily: $1.54 over the past year, up 93% from the year before, and higher year over year for 15 quarters in a row.
BOOT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $581.8M | +15% |
| Q2 2026 | $593.5M | +18% |
| Q1 2026 | $538.8M | +19% |
| Q4 2025 | $705.6M | +16% |
| Q3 2025 | $505.4M | +19% |
| Q2 2025 | $504.1M | +19% |
| Q1 2025 | $453.7M | +17% |
| Q4 2024 | $608.2M | +17% |
BOOT has the edge over GME on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 12% | +0.9 points |
| Q2 2026 | 15% | +1.2 points |
| Q1 2026 | 11% | -0.3 points |
| Q4 2025 | 16% | -0.1 points |
| Q3 2025 | 11% | +1.8 points |
| Q2 2025 | 14% | +2.2 points |
| Q1 2025 | 11% | +1.1 points |
| Q4 2024 | 16% | +1.9 points |
BOOT's operating margin was 12% last quarter, up 0.9 points from the same quarter a year ago.
GME Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $790.2M | -19% |
| Q2 2026 | $835.3M | +14% |
| Q1 2026 | $1.1B | -14% |
| Q4 2025 | $821M | -4.6% |
| Q3 2025 | $972.2M | +22% |
| Q2 2025 | $732.4M | -17% |
| Q1 2025 | $1.3B | -28% |
| Q4 2024 | $860.3M | -20% |
GME's revenue has slid since its 2022 peak: $790M last quarter, down 19% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +13 points |
| Q2 2026 | 17% | +19 points |
| Q1 2026 | 12% | +6 points |
| Q4 2025 | 5% | +8.9 points |
| Q3 2025 | 6.8% | +9.6 points |
| Q2 2025 | -1.5% | +4.3 points |
| Q1 2025 | 6.2% | +3.1 points |
| Q4 2024 | -3.9% | -2.5 points |
GME has the edge over BOOT on profitability, with a higher operating margin.
BOOT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$6.7M | +$10.8M |
| Q2 2026 | $32.8M | -23% |
| Q1 2026 | -$46.5M | +$36.6M |
| Q4 2025 | $148M | +30% |
| Q3 2025 | -$17.5M | +$28.6M |
| Q2 2025 | $42.4M | +198% |
| Q1 2025 | -$83.1M | -$51.2M |
| Q4 2024 | $114.2M | +67% |
BOOT usually generates cash, though not every quarter: the latest was −$7M, but it generated $127M over the past year.
GME Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $60.7M | -46% |
| Q2 2026 | $332.9M | +76% |
| Q1 2026 | $187.4M | +18% |
| Q4 2025 | $107M | +435% |
| Q3 2025 | $113.3M | +73% |
| Q2 2025 | $189.6M | +$304.3M |
| Q1 2025 | $158.8M | +$177.5M |
| Q4 2024 | $20M | +80% |
GME has the edge over BOOT on cash flow, with more consistent year-over-year improvement.
BOOT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.6% | -189K shares |
| 1 year | -1.1% | -338K shares |
| 3 years | -0.7% | -215K shares |
| 5 years | +0.2% | +56K shares |
| Available history | +3.6% | +1M shares |
BOOT has the edge over GME on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $34.6M |
| Q2 2026 | $25M |
| Q1 2026 | $12.5M |
| Q4 2025 | $12.5M |
| Q3 2025 | $12.5M |
| Q2 2025 | $12.5M |
BOOT spent $85M buying back its own shares over the past year.
GME Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +300K shares |
| 1 year | +8.4% | +46.1M shares |
| 3 years | +94% | +288M shares |
| 5 years | +104% | +302M shares |
| Available history | +80% | +264M shares |
GME has 593M diluted shares, up 8.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2021 | — |
| Q4 2020 | — |
| Q1 2020 | $21.8M |
| Q4 2019 | $114M |
BOOT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.2x | Net Cash |
| Q2 2026 | -0.4x | Net Cash |
| Q1 2026 | -0.4x | Net Cash |
| Q4 2025 | -0.6x | Net Cash |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | -0.3x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
BOOT has more cash than debt.
GME Net Leverage
BOOT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.9 | Neutral |
| Stochastic | 35.4 | Neutral |
BOOT's weekly RSI is 44 (neutral) and its Stochastic is 35 (neutral).
GME Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.9 | Neutral |
| Stochastic | 68.5 | Neutral |
GME's weekly RSI is 60 (neutral) and its Stochastic is 69 (neutral).
BOOT PE vs Consumer Cyclical Sector
| Metric | BOOT | Sector median | Relative |
|---|---|---|---|
| PE | 16x | 18x | 10% below |
| PE % | 34 | 47 | 13 pts below |
BOOT has the edge over GME on valuation relative to its sector.
GME PE vs Consumer Cyclical Sector
| Metric | GME | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 18x | 7.7% below |
| PE % | 15 | 47 | 32 pts below |
GME is trading at 17x earnings, in line with the Consumer Cyclical sector's median of 18x.
BOOT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $124.9 | 7.1% above |
| 20 week MA | $141.9 | 5.8% below |
| 50 week MA | $162.1 | 18% below |
| 100 week MA | $157.8 | 15% below |
| 200 week MA | $128.6 | 4% above |
BOOT's trend is mixed: it's above two of its five weekly moving averages, and 4% above its 200-week average.
GME Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $25.2 | 1.8% above |
| 20 week MA | $22.4 | 15% above |
| 50 week MA | $22.6 | 13% above |
| 100 week MA | $24.0 | 7% above |
| 200 week MA | $21.8 | 17% above |
GME has the edge over BOOT on trend strength, trading above more of its moving averages.
BOOT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $43.3 | $40.5 | -6.4% |
| 2021 | $40.5 | $116.8 | +189% |
| 2022 | $116.8 | $61.7 | -47% |
| 2023 | $61.7 | $76.8 | +24% |
| 2024 | $76.8 | $156.7 | +104% |
| 2025 | $156.7 | $186.0 | +19% |
| 2026 YTD | $186.0 | $133.7 | -28% |
BOOT's yearly returns have swung widely, from +189% in 2021 to −47% in 2022. It's down 28% so far in 2026.
GME Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.48 | $5.04 | +241% |
| 2021 | $5.04 | $38.0 | +655% |
| 2022 | $38.0 | $20.1 | -47% |
| 2023 | $20.1 | $17.5 | -13% |
| 2024 | $17.5 | $32.2 | +84% |
| 2025 | $32.2 | $21.1 | -35% |
| 2026 YTD | $21.1 | $25.6 | +21% |
GME has the edge over BOOT on returns for 2026, with the stronger performance.