# The Buckle, Inc. (BKE)

> Source: Nexqual · https://nexqual.com/BKE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, The Buckle, Inc. (BKE), nexqual.com/BKE" · informational, not investment advice.

**Price:** USD 47.48 (+3.17% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 46.02 · day 46.12–47.53 · 52w 39.44–58.52 · market cap $2.45B · NYQ

## Key facts
- Last four reported quarters (through Aug 1, 2026): revenue $1.33B, net income $221M (16.6% margin), free cash flow $191M (SEC filings).
- Valuation: P/E 11.1x (avg 10.3x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 5 Form 4 filings, $3.1M; 5 not under a Rule 10b5-1 plan ($3.1M); 2 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 3.00 on a 1–5 scale) (2 analysts), mean target USD 46 (range 46–46).
- Total return with dividends: 1Y -7.5% vs S&P 500 +14.9%; 5Y +89.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-20, EPS estimate USD 0.92, revenue estimate $337M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.29B | $1.35B | $1.26B | $1.22B | $1.30B | $1.33B |
| Gross profit | $653M | $676M | $619M | $593M | $636M | — |
| Operating income | $335M | $328M | $271M | $241M | $261M | $277M |
| Net income | $255M | $255M | $220M | $195M | $210M | $221M |
| EPS (diluted) | $5.16 | $5.13 | $4.40 | $3.89 | $4.14 | — |
| Free cash flow | $293M | $212M | $217M | $200M | $206M | $191M |
| Gross margin | 50.4% | 50.3% | 49.1% | 48.7% | 49.0% | — |
| Operating margin | 25.9% | 24.4% | 21.5% | 19.8% | 20.1% | 20.8% |
| Net margin | 19.7% | 18.9% | 17.4% | 16.1% | 16.2% | 16.6% |
| Revenue growth | +43.6% | +3.9% | -6.3% | -3.4% | +6.6% | — |
| Cash + short-term investments | $267M | $273M | $290M | $291M | $274M | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 1, 2026)
P/E 11.1x · P/S 1.8x · P/FCF 12.8x · P/B 5.0x · FCF yield 7.82% · Earnings yield 9.03% · Dividend yield (paid, TTM) 9.21%
P/E at fiscal year-ends: Jan 2026 11.4x, Feb 2025 10.3x, Feb 2024 9.3x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 5 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-22 | Werth Scott A | SVP Stores | 2,500 | $117K | 5.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-10-15 | Fairfield Bill L | Director | 8,500 | $394K | 16.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-08 | Fairfield Bill L | Director | 2,500 | $111K | 4.5% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-04-10 | Smith Kari G | EVP Stores | 30,000 | $1.6M | 26.4% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-10 | Hoffman Michelle | SVP Sales | 16,200 | $888K | 45.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 2 analysts; mean target USD 46 (low 46, high 46).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-11 | UBS | Target lowered | Neutral | $47 → $46 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -7.5% | +89.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -7.6% | +13.6% |
| Volatility (annualized) | 29.6% | 31.7% |
| Max drawdown | -29.3% (Apr 2026→Sep 2026) | -37.0% (Dec 2021→Jun 2022) |

## Peers (Apparel Retail)
AEO (American Eagle Outfitters, Inc.) USD 17.89 +2.93% · BOOT (Boot Barn Holdings, Inc.) USD 119.76 +3.16% · CRI (Carter's, Inc.) USD 33.93 +4.46% · REF (Reformation Inc.) USD 15.03 +7.43% · ANF (Abercrombie & Fitch Company) USD 161.49 +1.16% · VSXY (Victorias Secret & Co.) USD 88.42 -0.82%

## More
Full page: https://nexqual.com/BKE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $0.92 | $0.97 | -5.1% | $337.1M | 1 |
| Next quarter (ends 2027-01-31) | $1.57 | $1.61 | -2.5% | $423.1M | 1 |
| Current fiscal year (ends 2027-01-31) | $4.30 | $4.21 | +2.2% | $1.37B | 1 |
| Next fiscal year (ends 2028-01-31) | $4.15 | $4.50 | -7.9% | $1.42B | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-20): ±7.8%; last 8 reports averaged ±5.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 34.9% | ±7.8% |
| 2026-12-18 | 56 | 34.8% | ±10.9% |
| 2027-03-19 | 147 | 35.0% | ±17.5% |
| 2027-06-17 | 237 | 33.7% | ±21.3% |