Boot Barn Holdings Inc (BOOT)

Activity ratios

Short-term

Turnover ratios

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 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Inventory turnover 2.45 2.63 2.53 2.56 2.42 2.34 2.09 2.42 2.60 2.94 2.86 3.08 2.93 3.09 2.87 2.86 2.67 2.62 2.13 2.30
Receivables turnover 82.35 164.09 182.11 141.87 126.03 108.96 143.35 167.38 125.34 172.83 89.40 105.21 69.96 59.33 60.61 75.45 48.99 75.60 110.95 122.20
Payables turnover 11.06 11.26 10.58 13.41 10.63 9.00 7.81 8.52 9.37 6.00 7.13 8.25 7.72 7.38 9.25 9.27 8.10 5.88 4.89 5.88
Working capital turnover 4.00 4.35 4.94 5.25 5.63 6.12 6.79 6.83 7.24 7.83 7.35 8.24 5.85 7.07 9.31 10.92 11.74 12.93 19.77 21.68

Boot Barn Holdings Inc's inventory turnover has ranged between 2.09 and 3.09 over the past two years. The trend shows some fluctuations but generally remains within a moderate range. This ratio indicates how efficiently the company is managing its inventory and converting it into sales.

The receivables turnover for Boot Barn has shown significant variability over the periods analyzed, ranging from 48.99 to 182.11. This ratio reflects the effectiveness of the company in collecting outstanding receivables. The company seems to have improved its collection efficiency in recent quarters compared to previous years.

In terms of payables turnover, Boot Barn has maintained a relatively consistent performance, with this ratio ranging from 4.89 to 13.41 over the past two years. This ratio indicates how quickly the company pays its suppliers. A higher turnover ratio implies a more efficient management of payables.

Lastly, the working capital turnover ratio for Boot Barn has been decreasing over time, fluctuating between 4.00 and 21.68. This ratio measures how effectively the company is utilizing its working capital to generate sales. The decreasing trend may indicate a need for the company to optimize its working capital management to improve operational efficiency.

Average number of days

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 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Days of inventory on hand (DOH) days 148.79 138.71 144.49 142.48 150.80 156.00 175.01 150.98 140.64 124.01 127.59 118.43 124.58 117.99 127.10 127.55 136.47 139.13 171.63 158.52
Days of sales outstanding (DSO) days 4.43 2.22 2.00 2.57 2.90 3.35 2.55 2.18 2.91 2.11 4.08 3.47 5.22 6.15 6.02 4.84 7.45 4.83 3.29 2.99
Number of days of payables days 33.00 32.42 34.49 27.22 34.34 40.55 46.73 42.84 38.96 60.85 51.19 44.25 47.28 49.44 39.46 39.36 45.06 62.05 74.64 62.10

The Days of Inventory on Hand (DOH) for Boot Barn Holdings Inc have shown some fluctuation over the past few quarters, ranging from 124.01 days to 175.01 days. The trend indicates that it takes the company, on average, between 117.99 to 156.00 days to sell its inventory.

In terms of Days of Sales Outstanding (DSO), the company has also experienced variability, with figures ranging from 2.00 days to 6.15 days. This represents the average number of days it takes for Boot Barn to collect revenue after making a sale.

Moreover, the Number of Days of Payables for Boot Barn has also demonstrated some variability, fluctuating between 27.22 days to 74.64 days. This metric indicates the average number of days it takes for Boot Barn to pay its vendors and suppliers.

Overall, the activity ratios suggest that Boot Barn has been managing its inventory, sales collection, and payable days reasonably efficiently, with some fluctuations seen in the recent quarters. Analysis of trends in these ratios can provide insights into the company's liquidity and operational efficiency.

Long-term

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 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019
Fixed asset turnover 5.15 5.53 5.78 6.07 6.44 6.97 7.76 8.72 9.58 9.98 9.52 9.18 8.09 7.50 7.47 7.39 7.71 8.28 8.35 8.54
Total asset turnover 0.98 1.02 1.08 1.11 1.09 1.07 1.07 1.17 1.24 1.15 1.14 1.11 0.96 0.92 0.93 0.89 0.91 0.97 0.95 0.99

Boot Barn Holdings Inc's long-term activity ratios indicate how efficiently the company utilizes its assets to generate revenue.

1. Fixed asset turnover: This ratio shows how efficiently the company generates sales from its investments in fixed assets. Boot Barn has generally maintained a high fixed asset turnover ratio, indicating that it is effectively utilizing its fixed assets to generate sales. The ratio has been consistently above 5, with a peak of 9.98 in Dec 2021, suggesting that each dollar invested in fixed assets is generating a substantial amount of revenue.

2. Total asset turnover: This ratio measures how efficiently the company uses all its assets to generate sales. Boot Barn's total asset turnover has fluctuated over the periods but generally remains above 1, indicating that the company is efficiently utilizing its total assets to generate sales. The highest total asset turnover was observed in Mar 2022 at 1.24, showing that the company was able to generate $1.24 of sales for every dollar of assets held during that period.

In conclusion, both the fixed asset turnover and total asset turnover ratios suggest that Boot Barn Holdings Inc is effectively managing and utilizing its assets to generate sales, which is a positive indication of its operational efficiency.