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Buckle
(NYSE:BKE)
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Rating:69Neutral
Price Target:
$48.00
▲(9.76% Upside)
Action:Downgraded
Date:09/15/26
The score is driven primarily by strong underlying profitability and cash generation, plus attractive valuation and income (low P/E and high dividend yield). These positives are tempered by clearly bearish technicals (price below major moving averages with negative MACD) and some fundamental/call-related caution signals including margin step-down vs prior peaks, recent free-cash-flow decline, higher inventory, and quarter-level expense pressure.
Positive Factors
Revenue and earnings growth
Broad-based year-to-date growth shows that Buckle is still expanding sales while converting that demand into stronger earnings. Sustained improvement in revenue and net income can support store investments, digital operations, and shareholder returns over the coming quarters.
Negative Factors
Quarterly margin and expense pressure
The quarterly margin decline indicates that higher store-growth, labor, marketing, and other operating costs are absorbing part of Buckle’s sales gains. If expense growth continues to outpace revenue, profitability could remain below prior peaks and limit operating leverage.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings growth
Broad-based year-to-date growth shows that Buckle is still expanding sales while converting that demand into stronger earnings. Sustained improvement in revenue and net income can support store investments, digital operations, and shareholder returns over the coming quarters.
Read all positive factors
Buckle (BKE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.27B
Dividend Yield9.99%
Average Volume (3M)473.02K
Price to Earnings (P/E)10.1
Beta (1Y)0.79
Revenue Growth6.22%
EPS Growth8.74%
CountryUS
Employees8,000
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Retail
Share Statistics
EPS (TTM)4.38
Shares Outstanding51,512,432
10 Day Avg. Volume442,592
30 Day Avg. Volume473,021
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 Cap1.04
Enterprise Value/Revenue1.78
Enterprise Value/Gross Profit3.64
Enterprise Value/Ebitda7.69
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 makes money primarily by selling merchandise—apparel, footwear, and accessories—through its brick-and-mortar stores and its online channel. Revenue is generated when customers purchase products, with profitability driven by the spread betwe...
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
70
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.33B | 1.30B | 1.22B | 1.26B | 1.35B | 1.29B |
| Gross Profit | 650.37M | 635.86M | 592.79M | 619.07M | 676.00M | 653.01M |
| EBITDA | 307.68M | 301.54M | 280.77M | 310.05M | 353.91M | 356.44M |
| Net Income | 220.84M | 209.74M | 195.47M | 219.92M | 254.63M | 254.82M |
Balance Sheet | ||||||
| Total Assets | 1.09B | 991.28M | 913.17M | 889.81M | 837.58M | 780.88M |
| Cash, Cash Equivalents and Short-Term Investments | 287.18M | 274.16M | 290.73M | 290.42M | 273.07M | 266.90M |
| Total Debt | 421.38M | 383.81M | 326.26M | 315.41M | 303.79M | 288.34M |
| Total Liabilities | 605.75M | 566.64M | 489.37M | 476.59M | 461.26M | 467.96M |
| Stockholders Equity | 488.95M | 424.64M | 423.80M | 413.22M | 376.31M | 312.92M |
Cash Flow | ||||||
| Free Cash Flow | 191.32M | 205.78M | 199.74M | 217.37M | 212.02M | 292.65M |
| Operating Cash Flow | 257.76M | 251.14M | 242.01M | 254.64M | 242.38M | 311.75M |
| Investing Cash Flow | -65.46M | -43.52M | -45.28M | -41.77M | -41.40M | -28.77M |
| Financing Cash Flow | -225.34M | -225.09M | -198.02M | -196.74M | -202.88M | -347.80M |
Buckle Technical Analysis
Positive
43.73
Price Trends
43.08
Positive
43.49
Positive
47.34
Negative
Market Momentum
0.42
Negative
61.69
Neutral
84.12
Negative
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 above the 20-day moving average (MA) of 42.25, above the 50-day MA of 43.08, and below the 200-day MA of 47.34, indicating a neutral trend. The MACD of 0.42 indicates Negative momentum. The RSI at 61.69 is Neutral, neither overbought nor oversold. The STOCH value of 84.12 is Negative, 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | $6.19B | 12.30 | 39.59% | 6.86% | 4.73% | 8.69% | |
79 Outperform | $7.08B | 12.72 | 20.72% | ― | 11.01% | 24.97% | |
69 Neutral | $2.27B | 10.06 | 46.91% | 9.99% | 6.22% | 8.74% | |
67 Neutral | $3.63B | 15.05 | 18.78% | 2.98% | 17.65% | 24.64% | |
65 Neutral | $3.03B | 9.04 | 20.04% | 2.77% | 8.21% | 89.24% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
50 Neutral | $226.89M | 18.50 | 4.21% | ― | 3.61% | 7189.81% |
* Consumer Cyclical Sector Average
BKE
Buckle
44.06
-5.31
-10.76%
ANF
Abercrombie Fitch
145.91
73.47
101.42%
AEO
American Eagle
18.07
2.62
16.99%
BOOT
Boot Barn
119.97
-60.09
-33.37%
URBN
Urban Outfitters
82.69
14.77
21.75%
ZUMZ
Zumiez
14.80
-6.11
-29.22%
Buckle Corporate Events
Dividends
Buckle Declares Quarterly Dividend, Signaling Ongoing Confidence
Positive
Sep 15, 2026
At its quarterly board meeting held on September 14, 2026, The Buckle, Inc. authorized a quarterly cash dividend of $0.35 per share, reflecting the company’s continued practice of returning capital to shareholders. The dividend will be paid ...
Business Operations and StrategyExecutive/Board Changes
Buckle Announces Resignation of Longtime Board Director
Neutral
Aug 31, 2026
On August 28, 2026, Buckle announced that longtime director Angie J. Klein tendered her resignation from the company’s board, effective August 30, 2026, citing obligations tied to a new professional role. Klein, who joined the board in Decem...
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.