A Business at a Glance
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DECKERS OUTDOOR CORP
DECK
$14.0B
Mkt Cap
$96.04
-0.20%
DECKERS OUTDOOR CORP (DECK) has a current P/E ratio of 15.2, compared to its historical median P/E of 20.5. The stock is currently considered Fair based on its historical valuation range.
DECKERS OUTDOOR CORP (DECK) has a 5-year average return on invested capital (ROIC) of 103.6%. This indicates strong capital allocation and a potential competitive advantage.
DECKERS OUTDOOR CORP (DECK) has a market capitalization of $14.0B. It is classified as a large-cap stock.
DECKERS OUTDOOR CORP (DECK) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 7.67%.
Based on historical P/E analysis, DECKERS OUTDOOR CORP (DECK) appears fair. The current P/E of 15.2 is 26% below its historical median of 20.5. The estimated fair value CAGR (P/E method) is 26.8%.
DECKERS OUTDOOR CORP (DECK) operates in the Rubber & Plastics Footwear industry, within the Materials sector.
DECKERS OUTDOOR CORP (DECK) reported annual revenue of $5.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Deckers Brands is a global leader in designing, marketing, and distributing innovative footwear, apparel, and accessories across five proprietary brands: UGG, HOKA, Teva, AHNU, and Koolaburra (with Koolaburra being phased out and Sanuk divested). The company operates through a dual-channel model combining wholesale distribution through specialty retailers, department stores, and online partners with a direct-to-consumer (DTC) channel comprising company-owned e-commerce websites in 56 countries and 179 global retail stores (predominantly UGG concept and outlet stores, plus HOKA concept stores). All products are manufactured by independent contractors primarily located in Southeast Asia, particularly Vietnam, with raw materials sourced from designated suppliers, including sheepskin from Australia for UGG products. The company's brands compete across fashion and casual lifestyle, performance, running, and outdoor markets, emphasizing distinctive design, authenticity, functionality, quality, and comfort tailored to diverse activities, seasons, and demographics. UGG is an iconic premium lifestyle brand with year-round offerings and global consumer loyalty, while HOKA is an authentic premium performance line originally designed for ultra-runners that has expanded to appeal to world champions and everyday athletes across running, trail, hiking, fitness, and lifestyle categories. The company's omni-channel DTC strategy integrates e-commerce and retail stores to create a fluid purchasing experience that drives brand loyalty, inventory productivity, and consumer lifetime value, with international markets and DTC channels expected to grow faster than U.S. and wholesale channels respectively.
【Strong brand momentum and innovation】 Management expects HOKA to remain the fastest-growing brand with significant international expansion potential and consistent U.S. progress, supported by recent product upgrades across key franchises including Bondi, Clifton, Arahi, Gaviota, Cielo, Rocket, and Mach, with six franchise families already generating over $100 million in annual revenue. UGG is anticipated to continue driving growth across DTC and wholesale through men's and 365 product initiatives, with international regions leading growth alongside continued U.S. expansion, supported by successful collaborations and new consumer acquisition in younger demographics. The company is committed to disciplined marketplace execution and full-price selling while investing in category-defining product innovation, brand marketing with greater regional localization, DTC capabilities focused on lifetime value, and technology advancements including responsible AI use to support productivity and consumer acquisition. Management remains confident in the durability of the business model and consumer demand for its brands, with targeted investments designed to build brand heat, deepen consumer engagement, and enhance industry-leading operations while maintaining strong operating margins through the multi-year period.
| Metric | Target | Period |
|---|---|---|
| Revenue | $5.86 billion–$5.91 billion | FY2027 |
| Gross margin | approximately 56.5% | FY2027 |
| Operating margin | approximately 21.5% | FY2027 |
| HOKA revenue growth | low double digits | FY2027 |
| UGG revenue growth | mid-single digits | FY2027 |
| Consolidated revenue growth (multi-year framework) | high single-digit | FY2028–FY2030 |
| EPS growth (multi-year framework) | low double-digit annual | FY2028–FY2030 |
Revenue (FY2027): “For the full fiscal year 2027, we expect revenue in the range of $5.86 billion-$5.91 billion, reflecting high single-digit growth versus the prior year”
Gross margin (FY2027): “Gross margin is expected to be approximately 56.5%, which is down versus last year, primarily due to higher freight costs from rising transportation costs and shipping disruption related to the ongoing Middle East conflict, and increased input costs related to material upgrades and inflationary pressures.”
Operating margin (FY2027): “We expect an operating margin of approximately 21.5%, reflecting our commitment to deliver top-tier levels of profitability while continuing to invest in the long-term growth of our brands.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q2 FY2027 Earnings Call, Q1 FY2027 Earnings Call, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call
| Metric | TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|---|
| Revenue | 5.5B | 5.5B | 5.0B | 4.3B | 3.6B | 3.2B |
| Net Income | 1.0B | 1.0B | 966M | 760M | 517M | 452M |
| EPS | $7.02 | $7.02 | $6.33 | $0.81 | $0.54 | $2.71 |
| Free Cash Flow | 1.1B | 1.1B | 958M | 944M | 456M | 121M |
| ROIC | 164.6% | 149.8% | 140.4% | 91.0% | 60.1% | 77.0% |
| Gross Margin | 57.7% | 57.7% | 57.9% | 55.6% | 50.3% | 51.0% |
| Debt/Equity | 0.00 | 0.48 | 0.42 | 0.49 | 0.45 | 0.52 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 1.3B | 1.3B | 1.2B | 928M | 653M | 565M |
| Operating Margin | 23.1% | 23.1% | 23.6% | 21.6% | 18.0% | 17.9% |
| ROE | 41.0% | 40.9% | 41.8% | 39.2% | 31.3% | 30.3% |
| Shares Outstanding | 146M | 146M | 153M | 938M | 960M | 167M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 1.8B | 1.9B | 1.8B | 1.9B | 2.0B | 2.1B | 2.5B | 3.2B | 3.6B | 4.3B | 5.0B | 5.5B | 5.5B |
| Gross Margin | 48.3% | 45.2% | 46.7% | 48.9% | 51.5% | 51.8% | 54.0% | 51.0% | 50.3% | 55.6% | 57.9% | 57.7% | 57.7% |
| R&D | 21M | 22M | 21M | 22M | 23M | 28M | 29M | 33M | 39M | 49M | 57M | 69M | 69M |
| SG&A | 654M | 685M | 837M | 709M | 713M | 766M | 870M | 1.0B | 1.2B | 1.5B | 1.7B | 1.9B | 1.9B |
| EBIT | 224M | 162M | -1.9M | 223M | 327M | 338M | 504M | 565M | 653M | 928M | 1.2B | 1.3B | 1.3B |
| Op. Margin | 12.4% | 8.6% | -0.1% | 11.7% | 16.2% | 15.9% | 19.8% | 17.9% | 18.0% | 21.6% | 23.6% | 23.1% | 23.1% |
| Net Income | 162M | 122M | 5.7M | 114M | 264M | 276M | 383M | 452M | 517M | 760M | 966M | 1.0B | 1.0B |
| Net Margin | 8.9% | 6.5% | 0.3% | 6.0% | 13.1% | 12.9% | 15.0% | 14.3% | 14.2% | 17.7% | 19.4% | 18.7% | 18.7% |
| Non-Recurring | 0 | 25M | 142M | 1.3M | 18K | 667K | 13M | 3.1M | 126K | -407K | 1.1M | -1.2M | -1.2M |
| Returns on Capital | |||||||||||||
| ROIC | 31.3% | 21.9% | 0.6% | 27.6% | 64.1% | 81.1% | 17.7% | 77.0% | 60.1% | 91.0% | 140.4% | 149.8% | 164.6% |
| ROE | 17.3% | 12.6% | 0.6% | 12.1% | 26.6% | 25.3% | 29.6% | 30.3% | 31.3% | 39.2% | 41.8% | 40.9% | 41.0% |
| ROA | 13.8% | 9.6% | 0.5% | 9.3% | 19.6% | 17.3% | 19.5% | 20.1% | 21.1% | 26.7% | 28.8% | 28.2% | 27.8% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 170M | 126M | 199M | 327M | 360M | 286M | 596M | 172M | 537M | 1.0B | 1.0B | 1.2B | 1.2B |
| Free Cash Flow | 79M | 60M | 155M | 293M | 330M | 254M | 564M | 121M | 456M | 944M | 958M | 1.1B | 1.1B |
| Owner Earnings | 107M | 69M | 185M | 305M | 338M | 268M | 571M | 103M | 463M | 939M | 938M | 1.1B | 1.1B |
| CapEx | 91M | 65M | 44M | 35M | 29M | 32M | 32M | 51M | 81M | 89M | 86M | 85M | 85M |
| Maint. CapEx | 49M | 50M | 7.9M | 7.8M | 6.2M | 3.5M | 2.6M | 43M | 47M | 57M | 68M | 75M | 75M |
| Growth CapEx | 42M | 15M | 37M | 27M | 23M | 29M | 30M | 8.5M | 34M | 32M | 18M | 10M | 10M |
| D&A | 49M | 50M | 7.9M | 7.8M | 6.2M | 3.5M | 2.6M | 43M | 47M | 57M | 68M | 75M | 75M |
| CapEx/OCF | 53.7% | 52.0% | 22.3% | 10.6% | 8.1% | 11.3% | 5.4% | 29.6% | 15.1% | 8.6% | 8.2% | N/A | 7.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 107M | 94M | 13M | 150M | 161M | 190M | 99M | 357M | 297M | 415M | 567M | 1.1B | 1.1B |
| Buyback Yield | 4.3% | 5.0% | 0.7% | 5.2% | 3.7% | 5.0% | 1.0% | 4.7% | 2.5% | 1.7% | 3.3% | 0.0% | 7.7% |
| Stock-Based Comp | 14M | 6.6M | 6.0M | 14M | 15M | 14M | 23M | 27M | 27M | 37M | 38M | 45M | 45M |
| Debt Repayment | 283K | 493K | 523K | 550K | 578K | 603K | 31M | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -412M | -392M | -458M | -667M | -930M | -1.1B | -1.9B | N/A | N/A | N/A | N/A | N/A | -1.9B |
| Cash & Equiv. | 225M | 246M | 292M | 430M | 590M | 649M | 1.1B | 844M | 982M | 1.5B | 1.9B | 1.9B | 1.9B |
| Long-Term Debt | 33M | 33M | 32M | 32M | 31M | 30M | 0 | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.04 | 0.10 | 0.03 | 0.03 | 0.03 | 0.03 | 0.00 | 0.52 | 0.45 | 0.49 | 0.42 | 0.48 | 0.00 |
| Interest Coverage | 52.0 | 34.9 | -1.7 | 603.2 | 2975.6 | 287.5 | 438.1 | 9411.8 | 189.6 | 361.7 | 408.0 | 499.2 | 499.2 |
| Equity | 937M | 967M | 954M | 941M | 1.0B | 1.1B | 1.4B | 1.5B | 1.8B | 2.1B | 2.5B | 2.5B | 2.5B |
| Total Assets | 1.2B | 1.3B | 1.2B | 1.3B | 1.4B | 1.8B | 2.2B | 2.3B | 2.6B | 3.1B | 3.6B | 3.7B | 3.7B |
| Total Liabilities | 233M | 311M | 238M | 324M | 382M | 625M | 723M | 793M | 790M | 1.0B | 1.1B | 1.2B | 1.2B |
| Intangibles | 88M | 83M | 65M | 58M | 51M | 48M | 42M | 40M | 37M | 27M | 16M | 16M | 16M |
| Retained Earnings | 798M | 826M | 820M | 786M | 889M | 974M | 1.3B | 1.4B | 1.6B | 1.9B | 2.3B | 2.2B | 2.2B |
| Working Capital | 519M | 547M | 662M | 722M | 845M | 893M | 1.2B | 1.2B | 1.4B | 1.7B | 2.1B | 2.0B | 2.0B |
| Current Assets | 687M | 786M | 821M | 911M | 1.1B | 1.2B | 1.7B | 1.8B | 1.9B | 2.4B | 2.9B | 2.9B | 2.9B |
| Current Liabilities | 168M | 238M | 159M | 189M | 251M | 301M | 468M | 542M | 497M | 720M | 770M | 804M | 804M |
| Per Share Data | |||||||||||||
| EPS | 0.78 | 0.62 | 0.03 | 0.60 | 1.47 | 1.60 | 2.25 | 2.71 | 0.54 | 0.81 | 6.33 | 7.02 | 7.02 |
| Owner EPS | 0.51 | 0.35 | 0.97 | 1.59 | 1.89 | 1.56 | 3.35 | 0.62 | 0.48 | 1.00 | 6.15 | 7.28 | 7.28 |
| Book Value | 4.50 | 4.88 | 5.01 | 4.91 | 5.83 | 6.62 | 8.47 | 9.23 | 1.84 | 2.25 | 16.47 | 17.14 | 17.14 |
| Cash Flow/Share | 0.81 | 0.63 | 1.05 | 1.71 | 2.00 | 1.66 | 3.50 | 1.03 | 0.56 | 1.10 | 6.84 | 8.10 | 7.53 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 208.3M | 198.3M | 190.3M | 191.7M | 179.4M | 172.2M | 170.4M | 166.8M | 960.0M | 937.7M | 152.6M | 145.9M | 145.9M |
| Valuation | |||||||||||||
| P/E Ratio | 15.6 | 15.4 | 325.7 | 25.2 | 16.6 | 13.8 | 24.8 | 16.9 | 23.3 | 32.3 | 17.6 | N/A | 13.7 |
| P/FCF | 32.1 | 31.2 | 12.0 | 9.9 | 13.3 | 15.0 | 16.8 | 63.1 | 158.3 | 155.9 | 17.8 | N/A | 12.8 |
| EV/EBIT | 9.4 | 9.2 | N/A | 10.0 | 10.6 | 7.5 | 14.5 | N/A | N/A | N/A | N/A | N/A | 9.6 |
| Price/Book | 2.7 | 1.9 | 1.9 | 3.1 | 4.2 | 3.4 | 6.6 | 5.0 | 6.8 | 11.6 | 6.8 | N/A | 5.6 |
| Price/Sales | 1.6 | 1.1 | 1.0 | 1.2 | 1.8 | 2.1 | 2.6 | 3.2 | 2.5 | 3.7 | 5.0 | N/A | 2.6 |
| FCF Yield | 3.1% | 3.2% | 8.3% | 10.1% | 7.5% | 6.6% | 5.9% | 1.6% | 3.8% | 3.8% | 5.6% | N/A | 7.8% |
| Market Cap | 2.5B | 1.9B | 1.9B | 2.9B | 4.4B | 3.8B | 9.5B | 7.7B | 12.1B | 24.5B | 17.0B | 0 | 14.0B |
| Avg. Price | 14.19 | 10.27 | 9.64 | 11.98 | 19.84 | 26.49 | 39.54 | 59.94 | 56.12 | 102.02 | 162.40 | 0.00 | 96.04 |
| Year-End Price | 12.11 | 9.49 | 9.77 | 15.04 | 24.50 | 22.18 | 55.64 | 45.93 | 75.27 | 156.88 | 111.56 | 0.00 | 96.04 |
DECKERS OUTDOOR CORP passes 6 of 9 quality checks, suggesting mixed fundamentals.
DECKERS OUTDOOR CORP trades at 15.2x trailing earnings, compared to its 15-year median P/E of 20.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 15.3x vs a median of 15.0x. The company's 5-year average ROIC is 103.6% with a gross margin of 54.5%. Total shareholder yield (buybacks) is 7.7%. At current prices, the estimated annualized return to fair value is +23.3%.
DECKERS OUTDOOR CORP (DECK) has a net profit margin of 18.7%. This is a healthy margin.
DECKERS OUTDOOR CORP (DECK) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
DECKERS OUTDOOR CORP (DECK) has a debt-to-equity ratio of 0.48. This indicates a conservatively financed balance sheet.
DECKERS OUTDOOR CORP (DECK) reported earnings per share (EPS) of $7.02 in its most recent fiscal year.
DECKERS OUTDOOR CORP (DECK) has a return on equity (ROE) of 40.9%. This indicates the company generates strong returns for shareholders.
DECKERS OUTDOOR CORP (DECK) has a 5-year average gross margin of 54.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 18 years of financial data for DECKERS OUTDOOR CORP (DECK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
DECKERS OUTDOOR CORP (DECK) has a book value per share of $17.14, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects HOKA to remain the fastest-growing brand with significant international expansion potential and consistent U.S. progress, supported by recent product upgrades across key franchises including Bondi, Clifton, Arahi, Gaviota, Cielo, Rocket, and Mach, with six franchise families already generating over $100 million in annual revenue. UGG is anticipated to continue driving growth across DTC and wholesale through men's and 365 product initiatives, with international regions leading growth alongside continued U.S. expansion, supported by successful collaborations and new consumer acquisition in younger demographics. The company is committed to disciplined marketplace execution and full-price selling while investing in category-defining product innovation, brand marketing with greater regional localization, DTC capabilities focused on lifetime value, and technology advancements including responsible AI use to support productivity and consumer acquisition. Management remains confident in the durability of the business model and consumer demand for its brands, with targeted investments designed to build brand heat, deepen consumer engagement, and enhance industry-leading operations while maintaining strong operating margins through the multi-year period.
Based on recent SEC filings and earnings calls, DECKERS OUTDOOR CORP (DECK) has provided the following forward guidance: Revenue: $5.86 billion–$5.91 billion (FY2027); Gross margin: approximately 56.5% (FY2027); Operating margin: approximately 21.5% (FY2027); HOKA revenue growth: low double digits (FY2027); UGG revenue growth: mid-single digits (FY2027), plus 2 additional metrics.
HOKA revenue growth (FY2027): “with HOKA increasing low double digits versus the prior year, reflecting a higher DTC growth rate relative to wholesale”
UGG revenue growth (FY2027): “and UGG increasing mid-single digits with balanced growth across channels”
Consolidated revenue growth (multi-year framework) (FY2028–FY2030): “we remain highly confident in our brand portfolio's ability to deliver high single-digit revenue growth on a consolidated company basis through our fiscal year 2030, with HOKA expected to increase low double digits annually and UGG anticipated to grow mid-single digits annually”
EPS growth (multi-year framework) (FY2028–FY2030): “our fiscal 2028- 2030 framework incorporates maintaining strong operating margins through industry-leading full-price selling, disciplined marketplace execution, and realizes the benefits of our multi-year investments. With today's announcements of our Board's approval of an additional share repurchase authorization, this demonstrates the Board's confidence in our multi-year framework. Deckers' disciplined operational execution, paired with this increased authorization for sustained shareholder capital returns through share repurchases, reinforced by superior balance sheet and robust expected free cash flow generation, is expected to drive low double-digit annual earnings per share growth for fiscal year 2028- 2030”
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