Is Boot Barn Holdings, Inc. overvalued or undervalued?

As of 4 September 2025, Boot Barn Holdings, Inc. has moved from an attractive to a fair valuation grade. The company appears to be fairly valued based on its current metrics, which include a P/E ratio of 28, an EV to EBITDA of 16.79, and a PEG ratio of 1.28. In comparison to peers, Gap, Inc. has a P/E of 10.22 and Urban Outfitters, Inc. has a P/E of 13.77, indicating that Boot Barn is priced at a premium relative to these competitors.
Despite the fair valuation, Boot Barn has demonstrated strong performance with a year-to-date return of 17.73%, outperforming the S&P 500's 12.22% during the same period. However, over the past week, the stock has declined by 5.14%, contrasting with the S&P 500's gain of 1.05%. Overall, while Boot Barn Holdings, Inc. is fairly valued, its strong historical returns suggest potential for future growth.