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Side-by-side financial comparison of Boot Barn Holdings, Inc. (BOOT) and Freedom Holding Corp. (FRHC). 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 $628.6M, roughly 1.1× Freedom Holding Corp.). Boot Barn Holdings, Inc. runs the higher net margin — 12.2% vs 12.1%, a 0.0% gap on every dollar of revenue. On growth, Boot Barn Holdings, Inc. posted the faster year-over-year revenue change (16.0% vs -4.1%). Freedom Holding Corp. produced more free cash flow last quarter ($651.7M vs $148.0M). Over the past eight quarters, Boot Barn Holdings, Inc.'s revenue compounded faster (34.8% CAGR vs 16.3%).

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.

Freedom Holding Corp. is an investment conglomerate registered in Nevada, USA. The company provides a range of services in retail financial securities brokerage and trading, asset management, capital markets, investment research and counseling, investment banking and underwriting services, mortgages, insurance, banking and other consumer services. Its main area of focus is in the American stock market, as well as the markets of Europe and Central Asia, mainly Kazakhstan.

BOOT vs FRHC — Head-to-Head

Bigger by revenue
BOOT
BOOT
1.1× larger
BOOT
$705.6M
$628.6M
FRHC
Growing faster (revenue YoY)
BOOT
BOOT
+20.1% gap
BOOT
16.0%
-4.1%
FRHC
Higher net margin
BOOT
BOOT
0.0% more per $
BOOT
12.2%
12.1%
FRHC
More free cash flow
FRHC
FRHC
$503.8M more FCF
FRHC
$651.7M
$148.0M
BOOT
Faster 2-yr revenue CAGR
BOOT
BOOT
Annualised
BOOT
34.8%
16.3%
FRHC

Income Statement — Q3 FY2026 vs Q3 FY2026

Metric
BOOT
BOOT
FRHC
FRHC
Revenue
$705.6M
$628.6M
Net Profit
$85.8M
$76.2M
Gross Margin
39.9%
96.0%
Operating Margin
16.3%
14.9%
Net Margin
12.2%
12.1%
Revenue YoY
16.0%
-4.1%
Net Profit YoY
14.3%
-2.6%
EPS (diluted)
$2.79
$1.25

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.

Revenue
BOOT
BOOT
FRHC
FRHC
Q4 25
$705.6M
$628.6M
Q3 25
$505.4M
$526.1M
Q2 25
$504.1M
$533.4M
Q1 25
$453.7M
$363.7M
Q4 24
$608.2M
$655.2M
Q3 24
$425.8M
$580.9M
Q2 24
$423.4M
$450.7M
Q1 24
$388.5M
$464.7M
Net Profit
BOOT
BOOT
FRHC
FRHC
Q4 25
$85.8M
$76.2M
Q3 25
$42.2M
$38.7M
Q2 25
$53.4M
$30.4M
Q1 25
$37.5M
$-142.7M
Q4 24
$75.1M
$78.3M
Q3 24
$29.4M
$114.7M
Q2 24
$38.9M
$34.4M
Q1 24
$29.4M
$95.2M
Gross Margin
BOOT
BOOT
FRHC
FRHC
Q4 25
39.9%
96.0%
Q3 25
36.4%
97.1%
Q2 25
39.1%
97.4%
Q1 25
37.1%
96.6%
Q4 24
39.3%
98.6%
Q3 24
35.9%
99.1%
Q2 24
37.0%
99.0%
Q1 24
35.9%
Operating Margin
BOOT
BOOT
FRHC
FRHC
Q4 25
16.3%
14.9%
Q3 25
11.2%
11.5%
Q2 25
14.0%
7.6%
Q1 25
11.0%
-42.7%
Q4 24
16.4%
15.0%
Q3 24
9.4%
22.1%
Q2 24
11.9%
9.2%
Q1 24
9.8%
22.5%
Net Margin
BOOT
BOOT
FRHC
FRHC
Q4 25
12.2%
12.1%
Q3 25
8.4%
7.4%
Q2 25
10.6%
5.7%
Q1 25
8.3%
-39.2%
Q4 24
12.3%
11.9%
Q3 24
6.9%
19.7%
Q2 24
9.2%
7.6%
Q1 24
7.6%
20.5%
EPS (diluted)
BOOT
BOOT
FRHC
FRHC
Q4 25
$2.79
$1.25
Q3 25
$1.37
$0.63
Q2 25
$1.74
$0.50
Q1 25
$1.24
$-2.35
Q4 24
$2.43
$1.29
Q3 24
$0.95
$1.89
Q2 24
$1.26
$0.57
Q1 24
$0.96
$1.60

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BOOT
BOOT
FRHC
FRHC
Cash + ST InvestmentsLiquidity on hand
$200.1M
$869.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.3B
$1.4B
Total Assets
$2.4B
$12.4B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BOOT
BOOT
FRHC
FRHC
Q4 25
$200.1M
$869.2M
Q3 25
$64.7M
$636.0M
Q2 25
$95.3M
$567.9M
Q1 25
$69.8M
$837.3M
Q4 24
$152.9M
$577.9M
Q3 24
$37.4M
$569.2M
Q2 24
$83.4M
$718.7M
Q1 24
$75.8M
$545.1M
Stockholders' Equity
BOOT
BOOT
FRHC
FRHC
Q4 25
$1.3B
$1.4B
Q3 25
$1.2B
$1.2B
Q2 25
$1.2B
$1.2B
Q1 25
$1.1B
$1.2B
Q4 24
$1.1B
$1.3B
Q3 24
$1.0B
$1.3B
Q2 24
$981.8M
$1.1B
Q1 24
$943.6M
$1.2B
Total Assets
BOOT
BOOT
FRHC
FRHC
Q4 25
$2.4B
$12.4B
Q3 25
$2.3B
$10.3B
Q2 25
$2.1B
$9.7B
Q1 25
$2.0B
$9.9B
Q4 24
$2.0B
$9.1B
Q3 24
$1.9B
$8.8B
Q2 24
$1.8B
$8.5B
Q1 24
$1.7B
$8.3B

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BOOT
BOOT
FRHC
FRHC
Operating Cash FlowLast quarter
$209.7M
$717.8M
Free Cash FlowOCF − Capex
$148.0M
$651.7M
FCF MarginFCF / Revenue
21.0%
103.7%
Capex IntensityCapex / Revenue
8.7%
10.5%
Cash ConversionOCF / Net Profit
2.44×
9.42×
TTM Free Cash FlowTrailing 4 quarters
$89.8M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BOOT
BOOT
FRHC
FRHC
Q4 25
$209.7M
$717.8M
Q3 25
$25.7M
$535.3M
Q2 25
$73.8M
$480.8M
Q1 25
$-43.1M
$1.3B
Q4 24
$157.1M
$-72.8M
Q3 24
$-7.8M
$-438.0M
Q2 24
$41.3M
$854.1M
Q1 24
$309.0M
Free Cash Flow
BOOT
BOOT
FRHC
FRHC
Q4 25
$148.0M
$651.7M
Q3 25
$-17.5M
$456.4M
Q2 25
$42.4M
$450.0M
Q1 25
$-83.1M
Q4 24
$114.2M
$-92.7M
Q3 24
$-46.1M
$-447.5M
Q2 24
$14.2M
$829.9M
Q1 24
FCF Margin
BOOT
BOOT
FRHC
FRHC
Q4 25
21.0%
103.7%
Q3 25
-3.5%
86.7%
Q2 25
8.4%
84.4%
Q1 25
-18.3%
Q4 24
18.8%
-14.1%
Q3 24
-10.8%
-77.0%
Q2 24
3.4%
184.1%
Q1 24
Capex Intensity
BOOT
BOOT
FRHC
FRHC
Q4 25
8.7%
10.5%
Q3 25
8.6%
15.0%
Q2 25
6.2%
5.8%
Q1 25
8.8%
Q4 24
7.1%
3.0%
Q3 24
9.0%
1.6%
Q2 24
6.4%
5.4%
Q1 24
Cash Conversion
BOOT
BOOT
FRHC
FRHC
Q4 25
2.44×
9.42×
Q3 25
0.61×
13.82×
Q2 25
1.38×
15.82×
Q1 25
-1.15×
Q4 24
2.09×
-0.93×
Q3 24
-0.26×
-3.82×
Q2 24
1.06×
24.83×
Q1 24
3.24×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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