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Held by 286 of 6,047 reporting institutions (93th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 17 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| TJX | $152.6B | 28.5× | — | 2.5× | 7.1% | 31.0% | 9.1% | 53.9% | 42.1% | — | 2,651 |
| ROST | $71.0B | 33.6× | 21.1× | 3.1× | 7.7% | 27.7% | 9.4% | 34.7% | 27.8% | -1.0× | 1,360 |
| GAP | $8.2B | 10.9× | 4.4× | 0.5× | 1.9% | 40.8% | 5.3% | 21.5% | 15.4% | -0.7× | 476 |
| URBN | $7.0B | 16.2× | 9.0× | 1.1× | 11.1% | 36.0% | 7.5% | 16.5% | 16.5% | -0.5× | 405 |
| VSXY | $6.6B | 42.9× | 13.9× | 1.0× | 5.2% | 36.4% | 2.5% | 18.8% | 8.8% | 0.9× | — |
| ANF | $6.1B | 13.6× | 6.2× | 1.1× | 6.4% | — | 9.6% | 36.1% | 36.1% | -0.9× | 407 |
| BOOT | $3.6B | 16.3× | 9.2× | 1.6× | 17.9% | 38.1% | 10.0% | 17.1% | 17.1% | -0.4× | 433 |
| AEO | $3.0B | 16.7× | 6.3× | 0.6× | 4.1% | 36.5% | 3.5% | 11.3% | 11.3% | -0.5× | 336 |
| BKE | $2.3B | 10.7× | 7.9× | 1.8× | 6.6% | 49.0% | 16.2% | 49.4% | 49.4% | 0.0× | 286 |
| CTRN | $430M | 81.8× | 19.3× | 0.5× | 8.9% | — | 0.6% | 4.5% | 4.5% | 0.0× | 143 |
| GCO | $395M | 29.2× | 4.2× | 0.2× | 4.8% | 46.3% | 0.5% | 2.3% | 2.3% | -1.4× | 138 |
| SHOE | $347M | 6.7× | 2.3× | 0.3× | -5.6% | 36.6% | 4.6% | 7.6% | 7.6% | -1.2× | — |
| LE | $310M | 58.3× | 7.0× | 0.3× | 0.7% | 55.9% | 0.5% | 2.3% | 1.2% | 2.8× | 125 |
| DBI | $291M | — | 6.3× | 0.1× | -3.9% | 43.6% | -0.3% | -3.0% | -1.2% | 3.6× | 133 |
| CURV | $253M | — | 8.8× | 0.3× | -9.4% | 34.8% | -0.7% | 3.3% | -11.9% | 4.4× | 92 |
| ZUMZ | $222M | 18.6× | 2.5× | 0.2× | 4.5% | 35.8% | 1.4% | 4.1% | 4.1% | -3.4× | 123 |
| DLTH | $148M | — | 11.2× | 0.3× | -9.8% | 53.4% | -2.9% | -9.7% | -9.7% | -1.4× | 58 |
| VNCE | $144M | 22.6× | 13.4× | 0.5× | 2.2% | 49.7% | 2.1% | 12.7% | 9.2% | 1.6× | 35 |
Peers = companies sharing BKE's sector (Retail-Family Clothing Stores) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2025, FY2026, FY2026). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $44.06 today, the market must believe free cash flow compounds -4.1%/yr for a decade (off $207.6M on the 3-yr avg basis).
The market's -4.1% is more conservative than its 8-yr track record.
Default is 8.2% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.05B shares (market data) · net debt $0
mean 12.4% · volatility σ 33% · implied rate exceeded in 5/8 yrs
Central path = implied -4.1%/yr growth; shaded band = ±1σ (33%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
What the company returns to shareholders — and whether it's covered by cash.
The dividend exceeds free cash flow (109%) — funded from the balance sheet or debt, a red flag if it persists. Last year: $225.1M dividends + $0 buybacks = $225.1M returned on $205.8M FCF.
1 consecutive years of dividend increases · 11%/yr.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 49%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-10-12
How a revenue dollar becomes profit — FY2026
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2026 | FY2026 | FY2025 | FY2023 | FY2022 | FY2021 | FY2021 | FY2020 | FY2019 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.30B 100.0% | $1.22B 100.0% | $1.26B 100.0% | $1.35B 100.0% | $1.29B 100.0% | $901.3M 100.0% | $900.3M 100.0% | $885.5M 100.0% | $913.4M 100.0% | $974.9M 100.0% |
| Cost of Revenue | $662.0M 51.0% | $624.9M 51.3% | $642.0M 50.9% | $669.2M 49.7% | $641.6M 49.6% | $500.6M 55.5% | $522.8M 58.1% | $519.4M 58.7% | $533.4M 58.4% | — |
| Gross Profit | $635.9M 49.0% | $592.8M 48.7% | $619.1M 49.1% | $676.0M 50.3% | $653.0M 50.4% | $400.7M 44.5% | $377.5M 41.9% | $366.1M 41.3% | $380.0M 41.6% | $397.2M 40.7% |
| Selling, General & Admin | $374.4M 28.8% | $351.4M 28.9% | $348.0M 27.6% | $347.9M 25.9% | $317.5M 24.5% | $232.6M 25.8% | $246.0M 27.3% | $245.1M 27.7% | $245.9M 26.9% | $244.4M 25.1% |
| Operating Income | $261.4M 20.1% | $241.4M 19.8% | $271.1M 21.5% | $328.1M 24.4% | $335.5M 25.9% | $168.0M 18.6% | $131.5M 14.6% | $120.9M 13.7% | $134.1M 14.7% | $152.8M 15.7% |
| Other Income (Expense), net | $14.7M 1.1% | $16.4M 1.3% | $18.2M 1.4% | $6.9M 0.5% | $2.3M 0.2% | $2.9M 0.3% | $6.2M 0.7% | $5.7M 0.6% | $5.4M 0.6% | $3.5M 0.4% |
| Pretax Income | $276.1M 21.3% | $257.8M 21.2% | $289.2M 22.9% | $335.1M 24.9% | $337.8M 26.1% | $170.9M 19.0% | $137.7M 15.3% | $126.6M 14.3% | $139.5M 15.3% | $156.3M 16.0% |
| Income Tax Expense | $66.4M 5.1% | $62.3M 5.1% | $69.3M 5.5% | $80.4M 6.0% | $82.9M 6.4% | $40.8M 4.5% | $33.3M 3.7% | $31.0M 3.5% | $49.8M 5.4% | $58.3M 6.0% |
| Net Income | $209.7M 16.2% | $195.5M 16.1% | $219.9M 17.4% | $254.6M 18.9% | $254.8M 19.7% | $130.1M 14.4% | $104.4M 11.6% | $95.6M 10.8% | $89.7M 9.8% | $98.0M 10.0% |
| Per Share | ||||||||||
| EPS (Basic) | $4.17 | $3.92 | $4.44 | $5.17 | $5.20 | $2.67 | $2.15 | $1.97 | $1.86 | $2.04 |
| EPS (Diluted) | $4.14 | $3.89 | $4.40 | $5.13 | $5.16 | $2.66 | $2.14 | $1.97 | $1.85 | $2.03 |
| Weighted Avg Shares (Basic) | 50.3M | 49.9M | 49.6M | 49.3M | 49.0M | 48.8M | 48.6M | 48.4M | 48.3M | 48.1M |
| Weighted Avg Shares (Diluted) | 50.7M | 50.3M | 50.0M | 49.6M | 49.4M | 49.0M | 48.8M | 48.6M | 48.4M | 48.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-12
Earns 14.8pts above its cost of capital, but net margin has stepped down from 1892.87% to 1616.11% over 3 years.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2017 | 40.7% | 15.7% | 10.0% |
| FY2019 | 41.6% | 14.7% | 9.8% |
| FY2020 | 41.3% | 13.7% | 10.8% |
| FY2021 | 41.9% | 14.6% | 11.6% |
| FY2021 | 44.5% | 18.6% | 14.4% |
| FY2022 | 50.4% | 25.9% | 19.7% |
| FY2023 | 50.3% | 24.4% | 18.9% |
| FY2025 | 49.1% | 21.5% | 17.4% |
| FY2026 | 48.7% | 19.8% | 16.1% |
| FY2026 | 49.0% | 20.1% | 16.2% |
Net margin is 1616.11% against 1892.87% 3 years ago — a step down the business has not recovered, whatever the spread says today.
Is the profit real, and how strong is the balance sheet?
FY2026 · every deduction from revenue to net income
DuPont — the three levers
ROE 49% against ROIC 49% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2020 | FY2021 | FY2021 | FY2022 | FY2023 | FY2025 | FY2026 | FY2026 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 58.7 | 58.1 | 55.5 | 49.6 | 49.7 | 50.9 | 51.3 | 51.0 |
| Gross Profit | 41.3 | 41.9 | 44.5 | 50.4 | 50.3 | 49.1 | 48.7 | 49.0 |
| SG&A | 27.7 | 27.3 | 25.8 | 24.5 | 25.9 | 27.6 | 28.9 | 28.8 |
| Operating Income | 13.7 | 14.6 | 18.6 | 25.9 | 24.4 | 21.5 | 19.8 | 20.1 |
| Income Tax | 3.5 | 3.7 | 4.5 | 6.4 | 6.0 | 5.5 | 5.1 | 5.1 |
| Net Income | 10.8 | 11.6 | 14.4 | 19.7 | 18.9 | 17.4 | 16.1 | 16.2 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on BKE: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Return on equity (49%) and return on invested capital (49%) are within a couple of points in FY2026, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2021 | 17.7% | 8.2% (today's — no rate published for this year) | 9.6pts |
| FY2021 | 18.1% | 8.2% (today's — no rate published for this year) | 10.0pts |
| FY2022 | 42.4% | 8.2% (today's — no rate published for this year) | 34.2pts |
| FY2023 | 36.6% | 8.2% (today's — no rate published for this year) | 28.5pts |
| FY2025 | 28.3% | 8.2% (today's — no rate published for this year) | 20.1pts |
| FY2026 | 24.4% | 8.2% (today's — no rate published for this year) | 16.3pts |
| FY2026 | 24.6% | 8.2% (today's — no rate published for this year) | 16.4pts |
| Now | 49.4% | 8.2% | 41.2pts |
Converts 0.99x of reported profit into free cash flow over 5 years, with accruals negative.
| Step | Amount | Running total |
|---|---|---|
| Net income | $210M | $210M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $41M | $251M |
| Operating cash flow | $251M | $251M |
| Capex | −$45M | $206M |
| Free cash flow | $206M | $206M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2021 | 0.1% | not reported | not reported |
| FY2022 | 43.6% | not reported | not reported |
| FY2023 | 3.9% | not reported | not reported |
| FY2025 | -6.3% | not reported | not reported |
| FY2026 | -3.4% | not reported | not reported |
| FY2026 | 6.6% | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2021 | -3.0 percent |
| FY2021 | -11.5 percent |
| FY2022 | -7.3 percent |
| FY2023 | 1.5 percent |
| FY2025 | -3.9 percent |
| FY2026 | -5.1 percent |
| FY2026 | -4.2 percent |
Shares outstanding are up 4% since FY2020 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Missing from our data, so excluded from this answer: share_based_compensation.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Balance sheet at 2026-01-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: interest_expense.
At $44.16, free cash flow must compound -2.02%/yr for 10 years. It has done 8.9%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2021 | 78.2% | −2.0% |
| FY2022 | 33.2% | −2.0% |
| FY2023 | −27.6% | −2.0% |
| FY2025 | 2.5% | −2.0% |
| FY2026 | −8.1% | −2.0% |
| FY2026 | 3.0% | −2.0% |
The implied rate has been matched or beaten in 4 of the last 6 years.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.