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Side-by-side financial comparison of Boot Barn Holdings, Inc. (BOOT) and CASELLA WASTE SYSTEMS INC (CWST). Click either name above to swap in a different company.
Boot Barn Holdings, Inc. is the larger business by last-quarter revenue ($705.6M vs $469.1M, roughly 1.5× CASELLA WASTE SYSTEMS INC). Boot Barn Holdings, Inc. runs the higher net margin — 12.2% vs -0.5%, a 12.7% gap on every dollar of revenue. On growth, Boot Barn Holdings, Inc. posted the faster year-over-year revenue change (16.0% vs 9.7%). Boot Barn Holdings, Inc. produced more free cash flow last quarter ($148.0M vs $39.3M). Over the past eight quarters, Boot Barn Holdings, Inc.'s revenue compounded faster (34.8% CAGR vs 17.3%).
Henry Boot plc is a British property development business based in Sheffield, England. It was floated on the London Stock Exchange in 1919, becoming the first quoted housebuilder. Between the wars, Henry Boot built more houses than any other company. The company remains a significant construction and property management company operating in the UK.
Casella Waste Systems, Inc. is a waste management company based in Rutland, Vermont, United States. Founded in 1975 with a single truck, Casella is a regional, vertically integrated solid waste services company. Casella provides resource management expertise and services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection and disposal, transfer, recycling and organics services. The company provides integrated solid waste services in...
BOOT vs CWST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $705.6M | $469.1M |
| Net Profit | $85.8M | $-2.5M |
| Gross Margin | 39.9% | 33.3% |
| Operating Margin | 16.3% | 2.5% |
| Net Margin | 12.2% | -0.5% |
| Revenue YoY | 16.0% | 9.7% |
| Net Profit YoY | 14.3% | -151.5% |
| EPS (diluted) | $2.79 | $-0.04 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $705.6M | $469.1M | ||
| Q3 25 | $505.4M | $485.4M | ||
| Q2 25 | $504.1M | $465.3M | ||
| Q1 25 | $453.7M | $417.1M | ||
| Q4 24 | $608.2M | $427.5M | ||
| Q3 24 | $425.8M | $411.6M | ||
| Q2 24 | $423.4M | $377.2M | ||
| Q1 24 | $388.5M | $341.0M |
| Q4 25 | $85.8M | $-2.5M | ||
| Q3 25 | $42.2M | $10.0M | ||
| Q2 25 | $53.4M | $5.2M | ||
| Q1 25 | $37.5M | $-4.8M | ||
| Q4 24 | $75.1M | $4.9M | ||
| Q3 24 | $29.4M | $5.8M | ||
| Q2 24 | $38.9M | $7.0M | ||
| Q1 24 | $29.4M | $-4.1M |
| Q4 25 | 39.9% | 33.3% | ||
| Q3 25 | 36.4% | 35.0% | ||
| Q2 25 | 39.1% | 33.8% | ||
| Q1 25 | 37.1% | 32.8% | ||
| Q4 24 | 39.3% | 33.2% | ||
| Q3 24 | 35.9% | 35.1% | ||
| Q2 24 | 37.0% | 35.4% | ||
| Q1 24 | 35.9% | 32.3% |
| Q4 25 | 16.3% | 2.5% | ||
| Q3 25 | 11.2% | 6.1% | ||
| Q2 25 | 14.0% | 4.1% | ||
| Q1 25 | 11.0% | 0.8% | ||
| Q4 24 | 16.4% | 4.3% | ||
| Q3 24 | 9.4% | 5.9% | ||
| Q2 24 | 11.9% | 6.1% | ||
| Q1 24 | 9.8% | 2.0% |
| Q4 25 | 12.2% | -0.5% | ||
| Q3 25 | 8.4% | 2.1% | ||
| Q2 25 | 10.6% | 1.1% | ||
| Q1 25 | 8.3% | -1.2% | ||
| Q4 24 | 12.3% | 1.1% | ||
| Q3 24 | 6.9% | 1.4% | ||
| Q2 24 | 9.2% | 1.9% | ||
| Q1 24 | 7.6% | -1.2% |
| Q4 25 | $2.79 | $-0.04 | ||
| Q3 25 | $1.37 | $0.16 | ||
| Q2 25 | $1.74 | $0.08 | ||
| Q1 25 | $1.24 | $-0.08 | ||
| Q4 24 | $2.43 | $0.08 | ||
| Q3 24 | $0.95 | $0.10 | ||
| Q2 24 | $1.26 | $0.12 | ||
| Q1 24 | $0.96 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $200.1M | $123.8M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $1.3B | $1.6B |
| Total Assets | $2.4B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.72× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $200.1M | $123.8M | ||
| Q3 25 | $64.7M | $192.7M | ||
| Q2 25 | $95.3M | $217.8M | ||
| Q1 25 | $69.8M | $267.7M | ||
| Q4 24 | $152.9M | $358.3M | ||
| Q3 24 | $37.4M | $519.0M | ||
| Q2 24 | $83.4M | $208.5M | ||
| Q1 24 | $75.8M | $189.5M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | — | $976.6M | ||
| Q1 24 | — | $980.9M |
| Q4 25 | $1.3B | $1.6B | ||
| Q3 25 | $1.2B | $1.6B | ||
| Q2 25 | $1.2B | $1.6B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.1B | $1.6B | ||
| Q3 24 | $1.0B | $1.5B | ||
| Q2 24 | $981.8M | $1.0B | ||
| Q1 24 | $943.6M | $1.0B |
| Q4 25 | $2.4B | $3.3B | ||
| Q3 25 | $2.3B | $3.3B | ||
| Q2 25 | $2.1B | $3.3B | ||
| Q1 25 | $2.0B | $3.2B | ||
| Q4 24 | $2.0B | $3.2B | ||
| Q3 24 | $1.9B | $3.1B | ||
| Q2 24 | $1.8B | $2.5B | ||
| Q1 24 | $1.7B | $2.5B |
| Q4 25 | — | 0.72× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.72× | ||
| Q4 24 | — | 0.70× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.94× | ||
| Q1 24 | — | 0.96× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $209.7M | $96.6M |
| Free Cash FlowOCF − Capex | $148.0M | $39.3M |
| FCF MarginFCF / Revenue | 21.0% | 8.4% |
| Capex IntensityCapex / Revenue | 8.7% | 12.2% |
| Cash ConversionOCF / Net Profit | 2.44× | — |
| TTM Free Cash FlowTrailing 4 quarters | $89.8M | $84.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $209.7M | $96.6M | ||
| Q3 25 | $25.7M | $93.6M | ||
| Q2 25 | $73.8M | $89.5M | ||
| Q1 25 | $-43.1M | $50.1M | ||
| Q4 24 | $157.1M | $109.8M | ||
| Q3 24 | $-7.8M | $91.8M | ||
| Q2 24 | $41.3M | $72.1M | ||
| Q1 24 | — | $7.7M |
| Q4 25 | $148.0M | $39.3M | ||
| Q3 25 | $-17.5M | $27.6M | ||
| Q2 25 | $42.4M | $23.1M | ||
| Q1 25 | $-83.1M | $-5.4M | ||
| Q4 24 | $114.2M | $32.9M | ||
| Q3 24 | $-46.1M | $40.4M | ||
| Q2 24 | $14.2M | $27.5M | ||
| Q1 24 | — | $-22.6M |
| Q4 25 | 21.0% | 8.4% | ||
| Q3 25 | -3.5% | 5.7% | ||
| Q2 25 | 8.4% | 5.0% | ||
| Q1 25 | -18.3% | -1.3% | ||
| Q4 24 | 18.8% | 7.7% | ||
| Q3 24 | -10.8% | 9.8% | ||
| Q2 24 | 3.4% | 7.3% | ||
| Q1 24 | — | -6.6% |
| Q4 25 | 8.7% | 12.2% | ||
| Q3 25 | 8.6% | 13.6% | ||
| Q2 25 | 6.2% | 14.3% | ||
| Q1 25 | 8.8% | 13.3% | ||
| Q4 24 | 7.1% | 18.0% | ||
| Q3 24 | 9.0% | 12.5% | ||
| Q2 24 | 6.4% | 11.8% | ||
| Q1 24 | — | 8.9% |
| Q4 25 | 2.44× | — | ||
| Q3 25 | 0.61× | 9.37× | ||
| Q2 25 | 1.38× | 17.19× | ||
| Q1 25 | -1.15× | — | ||
| Q4 24 | 2.09× | 22.51× | ||
| Q3 24 | -0.26× | 15.91× | ||
| Q2 24 | 1.06× | 10.29× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BOOT
Segment breakdown not available.
CWST
| Transferred Over Time | $120.9M | 26% |
| Resource Solutions Region | $92.9M | 20% |
| Collection | $90.9M | 19% |
| Mid Atlantic Region | $89.6M | 19% |
| National Accounts | $60.9M | 13% |
| Landfill Revenue | $8.3M | 2% |
| Processing Services | $2.1M | 0% |
| Transportation | $1.4M | 0% |
