Boot Barn Holdings Inc (BOOT)
Solvency 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.05 | 0.05 | 0.12 | 0.12 | 0.13 | 0.12 | 0.12 | 0.12 | 0.13 | 0.13 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.09 | 0.10 | 0.22 | 0.23 | 0.25 | 0.25 | 0.25 | 0.26 | 0.28 | 0.28 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.10 | 0.11 | 0.28 | 0.30 | 0.33 | 0.34 | 0.34 | 0.35 | 0.38 | 0.39 |
| Financial leverage ratio | 1.81 | 1.84 | 1.85 | 1.85 | 1.95 | 2.07 | 2.20 | 2.07 | 2.00 | 2.15 | 2.16 | 2.16 | 2.36 | 2.46 | 2.62 | 2.80 | 2.87 | 2.79 | 3.03 | 2.94 |
Boot Barn Holdings Inc has consistently maintained a low level of leverage over the past few quarters, as evident from its solvency ratios. The company's debt-to-assets, debt-to-capital, and debt-to-equity ratios have all been at 0.00, indicating that the company has either no debt or a minimal amount relative to its total assets, capital, and equity.
However, when we look at the financial leverage ratio, we see a slight increase over the quarters, ranging from 1.81 to 3.03. This suggests that the company has been using more leverage to finance its operations, although it remains within a reasonable range.
Overall, Boot Barn Holdings Inc appears to have a strong financial position with low debt levels relative to its assets, capital, and equity. The increasing trend in the financial leverage ratio should be monitored to ensure that the company's overall financial health is sustainable in the long term.
Coverage 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 294.96 | 326.52 | 317.97 | 320.92 | 325.09 | 318.82 | 340.78 | 341.01 | 333.77 | 84.68 | 37.00 | 19.73 | 9.14 | 6.15 | 5.08 | 4.93 | 5.53 | 5.57 | 4.89 | 4.37 |
Boot Barn Holdings Inc's interest coverage ratio has shown strong performance over the past several quarters, consistently demonstrating the company's ability to meet its interest obligations. The interest coverage ratio has been well above 1, indicating that Boot Barn Holdings Inc generates more than enough operating income to cover its interest expenses.
The interest coverage ratio peaked at 340.78 in the third quarter of 2022 and has generally remained at high levels since then, with the latest figure at 294.96 as of March 31, 2024. This suggests that the company's earnings are significantly higher than its interest expenses, providing a comfortable margin of safety.
It is notable that there was a substantial improvement in the interest coverage ratio from the end of 2021, where it was at 84.68, to the most recent quarter. This improvement reflects the company's effective management of its debt and/or increased profitability.
Overall, Boot Barn Holdings Inc's consistently high interest coverage ratios indicate financial stability and the ability to comfortably meet its debt obligations through operating income.