Deckers Outdoor (DECK)
NYSE:DECK
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Deckers Outdoor
(NYSE:DECK)
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Rating:81Outperform
Price Target:
$123.00
▲(9.33% Upside)
Action:Reiterated
Date:05/23/26
The score is driven primarily by strong financial performance (growth, margins, low leverage, and strong recent free cash flow) and a positive earnings outlook with clear capital-return commitments, tempered by near-term margin headwinds and only mixed technical momentum (negative MACD despite price holding above key moving averages).
Positive Factors
Cash generation & capital returns
Consistent, large free cash flow and a strong cash balance give Deckers durable financial flexibility. Management returns capital aggressively (large FY26 repurchases and guidance to use most FCF for buybacks), supporting shareholder returns while funding growth, inventories and investments through cycles.
Negative Factors
Tariff and trade exposure
Significant tariff payments and continued exposure to trade policy create a structural margin risk. If tariffs, freight or geopolitical trade disruptions persist, gross margins could be chronically compressed absent sustained price increases or cost offsets, pressuring medium-term profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & capital returns
Consistent, large free cash flow and a strong cash balance give Deckers durable financial flexibility. Management returns capital aggressively (large FY26 repurchases and guidance to use most FCF for buybacks), supporting shareholder returns while funding growth, inventories and investments through cycles.
Read all positive factors
Deckers Outdoor Key Performance Indicators (KPIs)
Any
Revenue by Geography
Details which countries or regions generate sales, showing where Deckers has market share and where it can expand. Useful for spotting regional headwinds or tailwinds—like weather patterns, local consumer trends and macro conditions—that directly affect brand performance and inventory planning.
Details which countries or regions generate sales, showing where Deckers has market share and where it can expand. Useful for spotting regional headwinds or tailwinds—like weather patterns, local consumer trends and macro conditions—that directly affect brand performance and inventory planning.
Data provided by:
The Fly
The FlyDeckers Outdoor (DECK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.39B
Dividend YieldN/A
Average Volume (3M)2.12M
Price to Earnings (P/E)15.3
Beta (1Y)1.35
Revenue Growth9.35%
EPS Growth10.89%
CountryUS
Employees4,800
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)7.05
Shares Outstanding138,880,950
10 Day Avg. Volume2,870,420
30 Day Avg. Volume2,118,964
Financial Highlights & Ratios
PEG Ratio1.33
Price to Book (P/B)5.83
Price to Sales (P/S)2.67
P/FCF Ratio13.27
Enterprise Value/Market Cap0.93
Enterprise Value/Revenue2.61
Enterprise Value/Gross Profit4.56
Enterprise Value/Ebitda10.76
Forecast
1Y Price Target
$129.08Price Target Upside14.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering17
EPS Forecast (FY)7.48
Revenue Forecast (FY)$5.90B
Deckers Outdoor Business Overview & Revenue Model
Company Description
Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities. The company offers premium footwear, apparel, and accessori...
How the Company Makes Money
Deckers makes money primarily by selling branded footwear (and to a lesser extent apparel and accessories) through two main routes: (1) wholesale and (2) direct-to-consumer (DTC). In wholesale, Deckers sells products in bulk to third-party retaile...
Deckers Outdoor Earnings Call Summary
Earnings Call Date:May 21, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Jul 23, 2026
Earnings Call Sentiment Positive
Positive: The call emphasized record revenue and EPS, strong brand momentum—especially from HOKA and continued UGG strength—robust free cash flow, disciplined inventory and aggressive share repurchases. Management acknowledged near-term margin pressures (tariffs, freight and higher input costs) and higher SG&A from investments, but provided a clear multiyear framework targeting mid-single-digit revenue CAGR and low-double-digit EPS growth with continued capital returns. Overall, the magnitude and durability of the operational and financial positives substantially outweigh the listed headwinds.Positive Updates
Record Annual Revenue and Growth
Deckers delivered record fiscal 2026 revenue of $5.47 billion, up 10% year-over-year, and record diluted EPS of $7.02, up 11% versus $6.33 in the prior year.
Negative Updates
Tariff Headwinds and Uncertainty
Fiscal 2026 experienced a tariff-related gross margin headwind of approximately 80 basis points; the company paid roughly $120 million in tariffs under the IEPA and is pursuing refunds, but FY27 guidance assumes the current 10% tariff rate remains and does not include any assumed refund amounts.
Read all updates
Q4-2026 Updates
Positive
Negative
Record Annual Revenue and Growth
Deckers delivered record fiscal 2026 revenue of $5.47 billion, up 10% year-over-year, and record diluted EPS of $7.02, up 11% versus $6.33 in the prior year.
Read all positive updates
Company Guidance
Deckers guided fiscal 2027 revenue of $5.86–$5.91 billion (high‑single‑digit growth) with HOKA growing low‑double‑digits and UGG mid‑single‑digits; gross margin is expected to be ~56.5%, SG&A ~35% of revenue, operating margin ~21.5%, an effective tax rate of ~23% and diluted EPS of $7.30–$7.45 (including a plan to repurchase at least 80% of free cash flow). For Q1 ending June 30 they expect consolidated revenue up ~5% (their first-ever ~$1.0 billion quarter), HOKA up high‑single‑digits (DTC‑led), UGG up mid‑single‑digits, Q1 EPS $0.82–$0.87, and near‑term gross margin pressure largely from tariffs (assumed 10%) and higher input/freight costs; capex is guided to $145–$155 million. Looking further, the company’s multiyear framework targets high‑single‑digit annual revenue CAGR through FY28–30 (HOKA low‑double‑digit, UGG mid‑single‑digit), low‑double‑digit annual EPS growth for FY28–30, continued DTC and international outperformance versus wholesale/U.S., and assumes continued strong full‑price sell‑through (historical context: FY26 revenue $5.47B, gross margin 57.7%, operating margin 23.1%, EPS $7.02, cash $1.9B, inventory $487M, and >$900M FCF for three consecutive years).Deckers Outdoor Financial Statement Overview
Summary
Income Statement
92
Very Positive
Balance Sheet
88
Very Positive
Cash Flow
85
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.45B | 4.99B | 4.29B | 3.63B | 3.15B |
| Gross Profit | 3.06B | 2.89B | 2.39B | 1.83B | 1.61B |
| EBITDA | 1.32B | 1.32B | 1.04B | 716.87M | 609.60M |
| Net Income | 1.02B | 966.09M | 759.56M | 516.82M | 451.95M |
Balance Sheet | |||||
| Total Assets | 3.69B | 3.63B | 3.14B | 2.56B | 2.33B |
| Cash, Cash Equivalents and Short-Term Investments | 1.91B | 1.89B | 1.50B | 981.79M | 843.53M |
| Total Debt | 375.19M | 276.98M | 266.88M | 246.49M | 222.07M |
| Total Liabilities | 1.19B | 1.12B | 1.03B | 790.47M | 793.42M |
| Stockholders Equity | 2.50B | 2.51B | 2.11B | 1.77B | 1.54B |
Cash Flow | |||||
| Free Cash Flow | 1.10B | 958.35M | 943.82M | 456.40M | 121.34M |
| Operating Cash Flow | 1.18B | 1.04B | 1.03B | 537.42M | 172.35M |
| Investing Cash Flow | -84.61M | -75.00M | -89.33M | -81.01M | -51.01M |
| Financing Cash Flow | -1.08B | -581.33M | -417.68M | -309.03M | -367.48M |
Deckers Outdoor Technical Analysis
Positive
112.50
Price Trends
103.18
Positive
105.90
Positive
103.20
Positive
Market Momentum
2.47
Negative
60.95
Neutral
87.94
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DECK, the sentiment is Positive. The current price of 112.5 is above the 20-day moving average (MA) of 101.92, above the 50-day MA of 103.18, and above the 200-day MA of 103.20, indicating a bullish trend. The MACD of 2.47 indicates Negative momentum. The RSI at 60.95 is Neutral, neither overbought nor oversold. The STOCH value of 87.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DECK.
Deckers Outdoor Risk Analysis
Deckers Outdoor disclosed 27 risk factors in its most recent earnings report. Deckers Outdoor reported the most risks in the "Production" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Deckers Outdoor Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $15.39B | 15.27 | 40.79% | ― | 9.35% | 10.89% | |
70 Outperform | $7.98B | 19.23 | 12.95% | ― | 20.35% | 54.59% | |
66 Neutral | $3.24B | 41.42 | 8.78% | 1.97% | 15.48% | -54.34% | |
64 Neutral | $1.39B | 13.34 | 26.91% | 2.28% | 8.31% | 39.91% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $5.81B | -56.64 | -7.54% | ― | -1.85% | -108.05% |
* Consumer Cyclical Sector Average
DECK
Deckers Outdoor
110.79
4.96
4.69%
CROX
Crocs
116.86
14.69
14.38%
SHOO
Steven Madden
44.27
20.11
83.21%
WWW
Wolverine World Wide
16.96
0.52
3.14%
BIRK
Birkenstock Holding plc
43.41
-11.79
-21.36%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.