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Buckle
(NYSE:BKE)
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Rating:72Outperform
Price Target:
$47.00
▲(7.48% Upside)
Action:Upgraded
Date:08/21/26
The score is driven primarily by strong underlying profitability and cash generation, plus an attractive valuation supported by a low P/E and high dividend yield. These strengths are moderated by weak current price momentum (below major moving averages with negative MACD) and some operational watch-items highlighted on the earnings call (SG&A deleverage, inventory build, and a one-time margin benefit).
Positive Factors
Strong Profitability and Cash Generation
Strong TTM gross and net margins, alongside $269M of operating cash flow and $221M of free cash flow, gives Buckle capacity to fund stores, absorb demand volatility, and return capital without relying solely on external financing.
Negative Factors
Meaningful and Rising Leverage
Debt-to-equity is about 0.90 and debt has risen versus prior years. Although the balance sheet is not distressed, higher leverage and a modest equity cushion reduce flexibility if apparel demand weakens or working capital needs increase.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Profitability and Cash Generation
Strong TTM gross and net margins, alongside $269M of operating cash flow and $221M of free cash flow, gives Buckle capacity to fund stores, absorb demand volatility, and return capital without relying solely on external financing.
Read all positive factors
Buckle (BKE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.25B
Dividend Yield9.96%
Average Volume (3M)521.53K
Price to Earnings (P/E)10.1
Beta (1Y)0.78
Revenue Growth6.22%
EPS Growth8.74%
CountryUS
Employees8,000
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)4.40
Shares Outstanding51,515,995
10 Day Avg. Volume462,130
30 Day Avg. Volume521,532
Financial Highlights & Ratios
PEG Ratio1.78
Price to Book (P/B)5.60
Price to Sales (P/S)1.83
P/FCF Ratio11.55
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$46.00Price Target Upside5.19% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)4.23
Revenue Forecast (FY)$1.35B
Buckle Business Overview & Revenue Model
Company Description
The Buckle, Inc. operates as a retailer of casual apparel, footwear, and accessories for men, women, and kids under the Buckle and Buckle Youth brands in the United States. The company markets a selection of brand name casual apparel, including de...
How the Company Makes Money
Buckle primarily makes money by selling apparel, footwear, and accessories to consumers through two main channels: (1) physical retail stores and (2) e-commerce via buckle.com. Revenue is generated at the point of sale from merchandise transaction...
Buckle Earnings Call Summary
Earnings Call Date:Aug 21, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 13, 2026
Earnings Call Sentiment Positive
The call presents a generally positive operational and financial picture: comparable-store and total sales grew (quarter +4.6%, YTD +5.3%), merchandise and gross margins improved, the women's and kids categories showed meaningful strength, private label penetration increased, online and ticket metrics were favorable, and year-to-date net income and operating margin improved materially. Offsetting these positives were a slight decline in quarterly net income/EPS, quarter-level operating margin compression, a notable quarter SG&A increase driven by marketing investments, inventory up 13.3%, and some category softness in men's denim and footwear. Merchandise margin gains were also aided by a one-time tariff refund benefit. On balance the positives (growth, margin expansion YTD, category wins and store expansion) outweigh the negatives, though management highlighted several investments and one-time items that temper the quarter's headline profitability.Positive Updates
Quarterly Net Sales Growth
Net sales for the 13-week second quarter increased 4.6% to $319.8 million (vs $305.7 million prior year); comparable store sales rose 2.1% and online sales increased 2.3% to $44.6 million.
Negative Updates
Slight Quarterly Net Income and EPS Decline
Net income for the 13-week second quarter fell to $44.4 million or $0.87 per diluted share vs $45.0 million or $0.89 per diluted share in the prior-year quarter (modest decline of ~1.3% in net income and ~2 cents in EPS).
Read all updates
Q2-2026 Updates
Positive
Negative
Quarterly Net Sales Growth
Net sales for the 13-week second quarter increased 4.6% to $319.8 million (vs $305.7 million prior year); comparable store sales rose 2.1% and online sales increased 2.3% to $44.6 million.
Read all positive updates
Company Guidance
Management reiterated that the company does not provide future sales or earnings guidance (safe-harbor applies) and has no obligation to update forward-looking statements; the only forward-looking operational detail given was that Buckle expects to open 5 additional new stores and complete 4 more full remodels for the remainder of the year (year-to-date through post-quarter: 9 new stores, 10 remodels, 2 closures; ended the quarter with 446 stores vs. 440 a year ago). They reported Q2 net income of $44.4M ($0.87 diluted) vs. $45.0M ($0.89) a year ago and YTD net income of $91.3M ($1.79) vs. $80.2M ($1.59), Q2 net sales $319.8M (+4.6%) with comparable store sales +2.1% and online sales $44.6M (+2.3%), YTD net sales $608.6M (+5.3%) with comps +3.5% and online $92.2M (+2.5%); unit-per-transaction (UPT) was down ~1%, average unit retail +4.5%, average transaction value +3.5%. Other metrics noted that Q2 gross margin was 47.8% (+40 bps) with merchandise margins +110 bps (including $2.5M of tariff refunds, ~65 bps), Q2 SG&A 30.4% of sales (vs. 29.0%), Q2 operating margin 17.4% (YTD 19.0% vs. 17.3%), inventory $161.4M (+13.3%), cash & investments $322.9M, fixed assets net $191.7M, Q2 capex $29.8M (YTD $44.5M; $24.4M stores/remodels/tech, $20.1M HQ/DC incl. replacement aircraft), and an income tax rate of 24.5% for the periods reported.Buckle Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
66
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.31B | 1.30B | 1.22B | 1.26B | 1.35B | 1.29B |
| Gross Profit | 642.36M | 635.86M | 592.79M | 619.07M | 676.00M | 653.01M |
| EBITDA | 323.75M | 301.54M | 279.91M | 310.05M | 353.91M | 356.44M |
| Net Income | 221.43M | 209.74M | 195.47M | 219.92M | 254.63M | 254.82M |
Balance Sheet | ||||||
| Total Assets | 1.05B | 991.28M | 913.17M | 889.81M | 837.58M | 780.88M |
| Cash, Cash Equivalents and Short-Term Investments | 289.98M | 274.16M | 290.73M | 290.42M | 273.07M | 266.90M |
| Total Debt | 410.87M | 383.81M | 326.26M | 315.41M | 303.79M | 288.34M |
| Total Liabilities | 589.92M | 566.64M | 489.37M | 476.59M | 461.26M | 467.96M |
| Stockholders Equity | 458.87M | 424.64M | 423.80M | 413.22M | 376.31M | 312.92M |
Cash Flow | ||||||
| Free Cash Flow | 220.86M | 205.78M | 199.74M | 217.37M | 212.02M | 292.65M |
| Operating Cash Flow | 269.48M | 251.14M | 242.01M | 254.64M | 242.38M | 311.75M |
| Investing Cash Flow | -46.99M | -43.52M | -45.28M | -41.77M | -41.40M | -28.77M |
| Financing Cash Flow | -225.22M | -225.09M | -198.02M | -196.74M | -202.88M | -347.80M |
Buckle Technical Analysis
Positive
43.73
Price Trends
43.54
Positive
46.84
Negative
48.93
Negative
Market Momentum
-0.07
Positive
50.37
Neutral
56.52
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BKE, the sentiment is Positive. The current price of 43.73 is below the 20-day moving average (MA) of 44.58, above the 50-day MA of 43.54, and below the 200-day MA of 48.93, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 50.37 is Neutral, neither overbought nor oversold. The STOCH value of 56.52 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BKE.
Buckle Risk Analysis
Buckle disclosed 18 risk factors in its most recent earnings report. Buckle reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Buckle Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $4.84B | 12.45 | 36.89% | ― | 4.73% | 8.69% | |
72 Outperform | $2.25B | 10.08 | 46.91% | 10.36% | 6.22% | 8.74% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $2.80B | 10.66 | 17.24% | 2.94% | 6.22% | 65.05% | |
53 Neutral | $114.03M | -39.70 | -3.98% | ― | 1.69% | 93.35% |
* Consumer Cyclical Sector Average
BKE
Buckle
44.17
-8.11
-15.51%
ANF
Abercrombie Fitch
147.75
52.39
54.94%
AEO
American Eagle
17.59
4.72
36.72%
TLYS
Tilly's
3.93
2.06
110.16%
Buckle Corporate Events
Business Operations and StrategyDividendsShareholder Meetings
Buckle Announces Dividend and Confirms Governance Stability
Positive
Jun 2, 2026
The Buckle, Inc. held its Annual Meeting of Stockholders on June 1, 2026, where shareholders elected the full slate of director nominees and approved the ratification of Deloitte Touche LLP as the company’s independent auditor. Investors al...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.