BKEThe Buckle, Inc.
Is the business good?
The checks split: earnings fully cash-backed (1.2×) and elite returns on assets, but margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
High-quality, exceptional returns on the assets themselves, not leverage. ROE 46% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is BKE?
The Buckle, Inc. keeps 21% of every revenue dollar as operating profit, against 8.0% for the median Apparel Retail name.
Operating margin · Apparel Retail median 8.0% · 12 months to Q2 2026
- Cash conversion
- 1.23×
Cash conversion · 1.34× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +0.75%
Share count, year on year · flat: no meaningful dilution
- Gross margin
- 49%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | 19% |
| FY2021 | 26% |
| FY2022 | 24% |
| FY2023 | 21% |
| FY2024 | 20% |
| FY2025 | 20% |
Details›
- Gross margin12 months to Q2 2026
- 49%
- Operating margin12 months to Q2 2026
- 21%
- Net margin12 months to Q2 2026
- 17%
- Free cash flow margin
- 14%
- Revenue, trailing twelve months
- $1.33B
- Free cash flow, trailing twelve months
- $191M
- Net income, trailing twelve months
- $221M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.