Boot Barn Holdings Inc (BOOT)
Inventory turnover
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 1,194,066 | 1,157,925 | 1,109,916 | 1,077,515 | 1,052,598 | 1,073,393 | 1,078,840 | 1,060,765 | 1,047,075 | 1,011,718 | 979,224 | 951,325 | 913,183 | 845,204 | 746,488 | 680,947 | 598,612 | 562,786 | 554,218 | 553,038 |
| Inventory | US$ in thousands | 747,191 | 690,285 | 712,991 | 627,108 | 599,120 | 563,378 | 585,573 | 566,294 | 589,494 | 592,151 | 641,021 | 534,380 | 474,300 | 385,642 | 350,274 | 296,762 | 275,760 | 246,008 | 260,940 | 261,546 |
| Inventory turnover | 1.60 | 1.68 | 1.56 | 1.72 | 1.76 | 1.91 | 1.84 | 1.87 | 1.78 | 1.71 | 1.53 | 1.78 | 1.93 | 2.19 | 2.13 | 2.29 | 2.17 | 2.29 | 2.12 | 2.11 |
March 31, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $1,194,066K ÷ $747,191K
= 1.60
Boot Barn Holdings Inc's inventory turnover has fluctuated over the past few years, indicating varying efficiency in managing its inventory levels. The inventory turnover ratio measures the number of times a company sells and replaces its inventory during a specific period.
From June 30, 2020, to September 30, 2021, the inventory turnover remained relatively stable between 2.11 and 2.29. This suggests that Boot Barn was able to efficiently turn over its inventory during this period. However, from March 31, 2022, onwards, the inventory turnover ratio started to decline steadily, reaching 1.60 as of March 31, 2025.
The decreasing trend in inventory turnover could signify several potential issues for Boot Barn, such as overstocking, slowing sales, or ineffective inventory management practices. A declining inventory turnover ratio may lead to higher carrying costs, increased risk of obsolescence, and reduced profitability.
It would be advisable for Boot Barn to closely monitor its inventory levels, review its procurement and stocking strategies, and focus on optimizing its inventory management processes to improve its inventory turnover ratio and overall operational efficiency. Additionally, conducting a thorough analysis of demand patterns and implementing effective inventory control mechanisms could help mitigate the downward trend in inventory turnover.
Peer comparison
Mar 31, 2025
Mar 31, 2025