Is Boot Barn Holdings, Inc. overvalued or undervalued?

As of 17 October 2025, Boot Barn Holdings, Inc. has moved from a very attractive to a fair valuation grade. The company appears to be overvalued based on its current metrics. Key ratios include a P/E ratio of 28, an EV to EBITDA of 16.79, and a PEG ratio of 1.28. In comparison, peers such as Gap, Inc. have a P/E of 10.22, and Urban Outfitters, Inc. shows a much lower P/E of 13.77, indicating that Boot Barn's valuation is relatively high within its industry.
Despite the overvaluation, Boot Barn has demonstrated strong performance, with a year-to-date return of 21.85%, significantly outperforming the S&P 500's return of 13.30% in the same period. However, the overall valuation metrics suggest that the stock may not be a compelling buy at its current price.