Boot Barn Holdings, Inc. Earnings Per Share Disclosure
16. Earnings Per Share
Earnings per share is computed under the provisions of FASB ASC Topic 260, Earnings Per Share. Basic earnings per share is computed based on the weighted average number of outstanding shares of common stock during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method, whereby proceeds from such exercise and unamortized compensation, if any, on share-based awards are assumed to be used by the Company to purchase the shares of common stock at the average market price during the period. The dilutive effect of stock options and restricted stock is applicable only in periods of net income. Performance share units and market-based stock option awards are excluded from the calculation of diluted earnings per share until their respective performance or market criteria has been achieved.
The components of basic and diluted earnings per share of common stock, in aggregate, for fiscal 2026, fiscal 2025, and fiscal 2024 are as follows:
| Fiscal Year Ended | ||||||||
March 28, | March 29, | March 30, | |||||||
(in thousands, except per share data) |
| 2026 | | 2025 | | 2024 | |||
Net income | $ | 225,880 | $ | 180,942 | $ | 146,996 | |||
Weighted average basic shares outstanding |
| 30,505 |
| 30,524 |
| 30,167 | |||
Dilutive effect of options and restricted stock |
| 230 |
| 249 |
| 444 | |||
Weighted average diluted shares outstanding |
| 30,735 |
| 30,773 |
| 30,611 | |||
Basic earnings per share | $ | 7.40 | $ | 5.93 | $ | 4.87 | |||
Diluted earnings per share | $ | 7.35 | $ | 5.88 | $ | 4.80 | |||
During fiscal 2026, fiscal 2025 and fiscal 2024, securities outstanding totaling approximately zero, zero, and 86,882 shares, comprised of options and restricted stock, were excluded from the computation of weighted average diluted common shares outstanding, as the effect of doing so would have been anti-dilutive.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | May 14, 2026 | Showing above |
| 2025 | May 15, 2025 | |
| 2024 | May 15, 2024 | |
| 2023 | May 18, 2023 | |
| 2022 | May 12, 2022 | |
| 2021 | May 13, 2021 | |
| 2020 | May 22, 2020 | |
| 2019 | May 24, 2019 | |
| 2018 | May 16, 2018 | |
| 2017 | Jun 7, 2017 | |
| 2016 | Jun 3, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.