Buckle Inc. (BKE) intrinsic value & 10-year financials
Buckle Inc. (BKE) has a Graham intrinsic value of $87.51 per share. At $46.50 on Oct 17, 2026, the stock trades 47% below that value. Over the last 10 fiscal years revenue grew 3.2% a year to $1.3B, with an average return on invested capital of 47.0%.
- Graham intrinsic value
- $87.51
- Share price (Oct 17, 2026)
- $46.50
- Price vs Graham value
- 47% below
- Market cap
- $2.4B
- Revenue (FY2026)
- $1.3B
- Revenue growth (10-yr CAGR)
- 3.2%
- ROIC (10-yr avg)
- 47.0%
- Free cash flow (FY2026)
- $205.8M
BKE 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $1.3B | $209.7M | $4.14 | $205.8M | 20.1% | 45.3% |
| FY2025 | $1.2B | $195.5M | $3.89 | $199.7M | 19.8% | 47.0% |
| FY2024 | $1.3B | $219.9M | $4.40 | $217.4M | 21.5% | 57.7% |
| FY2023 | $1.3B | $254.6M | $5.13 | $212.0M | 24.4% | 83.4% |
| FY2022 | $1.3B | $254.8M | $5.16 | $292.7M | 25.9% | 90.2% |
| FY2021 | $901.3M | $130.1M | $2.66 | $219.8M | 18.6% | 33.6% |
| FY2020 | $900.3M | $104.4M | $2.14 | $123.3M | 14.6% | 29.2% |
| FY2019 | $885.5M | $95.6M | $1.97 | $98.7M | 13.7% | 40.5% |
| FY2018 | $913.4M | $89.7M | $1.85 | $106.3M | 14.7% | 21.0% |
| FY2017 | $974.9M | $98.0M | $2.03 | $117.2M | 15.7% | 22.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BUCKLE INC has demonstrated mature, steady growth, with revenue compounding at 3.2% annually over the past decade.
BUCKLE INC has earned high returns on invested capital, averaging 47.0% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
BUCKLE INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BUCKLE INC is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $87.51 per share.