BOOT vs. ASO

Last updated Apr 1, 2026

Compare and contrast key facts about Boot Barn Holdings, Inc. (BOOT) and Academy Sports and Outdoors, Inc. (ASO).

Performance

BOOT vs. ASO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Boot Barn Holdings, Inc. (BOOT) and Academy Sports and Outdoors, Inc. (ASO). The values are adjusted to include any dividend payments, if applicable.

BOOT vs. ASO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BOOT Boot Barn Holdings, Inc.	-17.06%	16.24%	97.79%	22.78%	-49.19%	183.79%	40.19%
ASO Academy Sports and Outdoors, Inc.	13.31%	-12.23%	-12.18%	26.44%	20.55%	111.77%	59.58%

Fundamentals

Market Cap BOOT : $4.50B ASO : $3.82B
EPS BOOT : $7.12 ASO : $5.55
PE Ratio BOOT : 20.55 ASO : 10.17
PS Ratio BOOT : 2.07 ASO : 0.63
PB Ratio BOOT : 3.50 ASO : 1.76
Total Revenue (TTM) BOOT : $2.17B ASO : $6.05B
Gross Profit (TTM) BOOT : $831.18M ASO : $2.11B
EBITDA (TTM) BOOT : $347.67M ASO : $512.18M

Returns By Period

In the year-to-date period, BOOT achieves a -17.06% return, which is significantly lower than ASO's 13.31% return.

BOOT

• 1D: 4.59%
• 1M: -22.65%
• YTD: -17.06%
• 6M: -11.68%
• 1Y: 36.24%
• 3Y*: 24.07%
• 5Y*: 18.82%
• 10Y*: 31.25%

ASO

• 1D: 4.02%
• 1M: -5.85%
• YTD: 13.31%
• 6M: 13.45%
• 1Y: 25.12%
• 3Y*: -3.88%
• 5Y*: 15.01%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

BOOT vs. ASO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BOOT

BOOT Risk / Return Rank: 67
BOOT Sharpe Ratio Rank: 67
BOOT Sortino Ratio Rank: 66
BOOT Omega Ratio Rank: 62
BOOT Calmar Ratio Rank: 68
BOOT Martin Ratio Rank: 73

ASO

ASO Risk / Return Rank: 59
ASO Sharpe Ratio Rank: 60
ASO Sortino Ratio Rank: 58
ASO Omega Ratio Rank: 56
ASO Calmar Ratio Rank: 61
ASO Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BOOT vs. ASO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Boot Barn Holdings, Inc. (BOOT) and Academy Sports and Outdoors, Inc. (ASO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BOOT	ASO	Difference
Sharpe ratio Return per unit of total volatility	0.72	0.47	+0.25
Sortino ratio Return per unit of downside risk	1.38	1.05	+0.33
Omega ratio Gain probability vs. loss probability	1.16	1.14	+0.03
Calmar ratio Return relative to maximum drawdown	1.24	0.84	+0.40
Martin ratio Return relative to average drawdown	4.03	2.01	+2.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOOT vs. ASO - Sharpe Ratio Comparison

The current BOOT Sharpe Ratio is 0.72, which is higher than the ASO Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of BOOT and ASO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BOOT	ASO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	0.47	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	0.32	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.67	-0.34

Correlation

The correlation between BOOT and ASO is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BOOT vs. ASO - Dividend Comparison

BOOT has not paid dividends to shareholders, while ASO's dividend yield for the trailing twelve months is around 0.96%.

	TTM	2025	2024	2023	2022
BOOT Boot Barn Holdings, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%
ASO Academy Sports and Outdoors, Inc.	0.96%	1.04%	0.76%	0.55%	0.57%

Drawdowns

BOOT vs. ASO - Drawdown Comparison

The maximum BOOT drawdown since its inception was -83.73%, which is greater than ASO's maximum drawdown of -54.17%. Use the drawdown chart below to compare losses from any high point for BOOT and ASO.

Drawdown Indicators

	BOOT	ASO	Difference
Max Drawdown Largest peak-to-trough decline	-83.73%	-54.17%	-29.56%
Max Drawdown (1Y) Largest decline over 1 year	-32.71%	-28.41%	-4.30%
Max Drawdown (5Y) Largest decline over 5 years	-60.62%	-54.17%	-6.45%
Max Drawdown (10Y) Largest decline over 10 years	-77.88%	—	—
Current Drawdown Current decline from peak	-29.63%	-23.31%	-6.32%
Average Drawdown Average peak-to-trough decline	-32.48%	-19.00%	-13.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.05%	11.89%	-1.84%

Volatility

BOOT vs. ASO - Volatility Comparison

The current volatility for Boot Barn Holdings, Inc. (BOOT) is 12.00%, while Academy Sports and Outdoors, Inc. (ASO) has a volatility of 15.93%. This indicates that BOOT experiences smaller price fluctuations and is considered to be less risky than ASO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOOT	ASO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.00%	15.93%	-3.93%
Volatility (6M) Calculated over the trailing 6-month period	29.98%	32.06%	-2.08%
Volatility (1Y) Calculated over the trailing 1-year period	50.59%	53.21%	-2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.75%	46.74%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.78%	47.17%	+10.61%

Financials

BOOT vs. ASO - Profitability Comparison

The chart below illustrates the profitability comparison between Boot Barn Holdings, Inc. and Academy Sports and Outdoors, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BOOT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Boot Barn Holdings, Inc. reported a gross profit of 281.24M and revenue of 705.64M. Therefore, the gross margin over that period was 39.9%.

ASO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Academy Sports and Outdoors, Inc. reported a gross profit of 576.60M and revenue of 1.72B. Therefore, the gross margin over that period was 33.6%.

BOOT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Boot Barn Holdings, Inc. reported an operating income of 114.78M and revenue of 705.64M, resulting in an operating margin of 16.3%.

ASO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Academy Sports and Outdoors, Inc. reported an operating income of 170.15M and revenue of 1.72B, resulting in an operating margin of 9.9%.

BOOT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Boot Barn Holdings, Inc. reported a net income of 85.81M and revenue of 705.64M, resulting in a net margin of 12.2%.

ASO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Academy Sports and Outdoors, Inc. reported a net income of 133.69M and revenue of 1.72B, resulting in a net margin of 7.8%.