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Deckers Outdoor
(NYSE:DECK)
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Rating:74Outperform
Price Target:
$112.00
▲(16.62% Upside)
Action:Reiterated
Date:07/31/26
The score is primarily supported by excellent financial performance (strong margins, cash generation, and conservative leverage) and a constructive earnings outlook with raised margin/EPS guidance. These positives are tempered by weak technical positioning (price below key moving averages) and near-term cost headwinds from tariffs and elevated SG&A.
Positive Factors
High and sustainable profitability
Deckers’ elevated TTM margins reflect durable pricing power and a premium product mix. Such structural margin strength stems from brand positioning and favorable channel mix (DTC/full-price) and supports resilient earnings generation and cash conversion across business cycles over the next 2–6 months.
Negative Factors
Moderating revenue growth rate
Revenue growth slowdown increases dependence on margin expansion and share buybacks to meet earnings targets. If top-line momentum weakens further, the company may face pressure to sustain elevated margins or accelerate risky investments to rekindle past growth rates within the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
High and sustainable profitability
Deckers’ elevated TTM margins reflect durable pricing power and a premium product mix. Such structural margin strength stems from brand positioning and favorable channel mix (DTC/full-price) and supports resilient earnings generation and cash conversion across business cycles over the next 2–6 months.
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
$12.78B
Dividend YieldN/A
Average Volume (3M)2.28M
Price to Earnings (P/E)12.9
Beta (1Y)1.41
Revenue Growth7.48%
EPS Growth8.03%
CountryUS
Employees6,000
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)7.06
Shares Outstanding136,181,850
10 Day Avg. Volume2,538,960
30 Day Avg. Volume2,275,684
Financial Highlights & Ratios
PEG Ratio1.33
Price to Book (P/B)5.83
Price to Sales (P/S)2.66
P/FCF Ratio13.27
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$122.38Price Target Upside27.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering19
EPS Forecast (FY)7.53
Revenue Forecast (FY)$5.89B
Deckers Outdoor Business Overview & Revenue Model
Company Description
Deckers Outdoor Corporation, operating with its subsidiaries, is a global enterprise dedicated to the creation, promotion, and distribution of footwear, apparel, and accessories. Its product lines serve both casual everyday needs and specialized h...
How the Company Makes Money
Deckers makes money by selling branded footwear, apparel, and accessories through two primary go-to-market channels: wholesale and direct-to-consumer (DTC). (1) Wholesale revenue: Deckers sells products to third-party retailers and distributors (e...
Deckers Outdoor Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Oct 22, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational and financial execution: double-digit DTC growth, HOKA and UGG momentum, a Q1 gross margin beat and an EPS beat, alongside disciplined inventory and significant share repurchases. Near-term headwinds include higher tariffs (both realized in Q1 and a raised forward assumption), rising SG&A investments, and planned timing shifts that compress first-half wholesale results and pressure Q2 margins. Management raised full-year margin and EPS guidance and emphasized confidence in H2 acceleration driven by HOKA and international wholesale, indicating that company strengths and growth drivers outweigh current headwinds.Positive Updates
Record Quarterly Revenue Above $1 Billion
Total company revenue of $1.02 billion in Q1, up 5.7% versus prior year — the first time Deckers delivered over $1 billion in a first quarter.
Negative Updates
Tariff Headwinds and Increased Tariff Assumption
Q1 tariffs generated a ~150 basis point headwind year-over-year. Management increased the assumed go-forward tariff rate to 12.5% from 10% and continues to pursue refunds related to prior tariffs but has not assumed any recovery in guidance.
Read all updates
Q1-2027 Updates
Positive
Negative
Record Quarterly Revenue Above $1 Billion
Total company revenue of $1.02 billion in Q1, up 5.7% versus prior year — the first time Deckers delivered over $1 billion in a first quarter.
Read all positive updates
Company Guidance
Management reiterated FY‑2027 targets of $5.86–$5.91 billion in revenue (high‑single‑digit growth) with HOKA up low‑double digits and UGG up mid‑single digits, raised full‑year gross margin to “slightly better than 56.5%” (Q1 was 56.4%, +60 bps YoY) and updated the go‑forward tariff assumption to 12.5% (from 10%); SG&A is still expected at ~35% of revenue, operating margin slightly better than 21.5%, an effective tax rate of ~23%, and diluted EPS of $7.35–$7.50 (up $0.05) assuming share repurchases equal to ~80% of projected FY27 free cash flow. For Q2 they expect consolidated revenue ~+5% (HOKA high‑single‑digit, UGG mid‑single‑digit, other brands ~‑50%) and EPS of $1.73–$1.78. Q1 highlights feeding the outlook included $1.02 billion revenue (+5.7%), diluted EPS $0.94, gross margin benefits from better closeouts (~60 bps), full‑price/channel/brand mix (~110 bps) and FX (~40 bps) partially offset by ~‑150 bps tariff headwind, plus $1.6 billion cash, $808 million inventory (‑5% YoY), ~$338 million of Q1 buybacks (avg $103.79) and ~$4.7 billion remaining repurchase authorization.Deckers Outdoor Financial Statement Overview
Summary
Income Statement
93
Very Positive
Balance Sheet
84
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.53B | 5.47B | 4.99B | 4.29B | 3.63B | 3.15B |
| Gross Profit | 3.19B | 3.16B | 2.89B | 2.39B | 1.83B | 1.61B |
| EBITDA | 1.39B | 1.40B | 1.32B | 1.04B | 716.87M | 609.60M |
| Net Income | 1.01B | 1.02B | 966.09M | 759.56M | 516.82M | 451.95M |
Balance Sheet | ||||||
| Total Assets | 3.87B | 3.69B | 3.63B | 3.14B | 2.56B | 2.33B |
| Cash, Cash Equivalents and Short-Term Investments | 1.60B | 1.91B | 1.89B | 1.50B | 981.79M | 843.53M |
| Total Debt | 472.33M | 375.19M | 276.98M | 266.88M | 246.49M | 222.07M |
| Total Liabilities | 1.57B | 1.19B | 1.12B | 1.03B | 790.47M | 793.42M |
| Stockholders Equity | 2.30B | 2.50B | 2.51B | 2.11B | 1.77B | 1.54B |
Cash Flow | ||||||
| Free Cash Flow | 1.20B | 1.10B | 958.35M | 943.82M | 456.40M | 121.34M |
| Operating Cash Flow | 1.19B | 1.18B | 1.04B | 1.03B | 537.42M | 172.35M |
| Investing Cash Flow | -75.90M | -84.61M | -75.00M | -89.33M | -81.01M | -51.01M |
| Financing Cash Flow | -1.24B | -1.08B | -581.33M | -417.68M | -309.03M | -367.48M |
Deckers Outdoor Technical Analysis
Negative
96.04
Price Trends
104.06
Negative
103.62
Negative
102.05
Negative
Market Momentum
-2.60
Positive
32.76
Neutral
11.22
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DECK, the sentiment is Negative. The current price of 96.04 is below the 20-day moving average (MA) of 99.79, below the 50-day MA of 104.06, and below the 200-day MA of 102.05, indicating a bearish trend. The MACD of -2.60 indicates Positive momentum. The RSI at 32.76 is Neutral, neither overbought nor oversold. The STOCH value of 11.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for DECK.
Deckers Outdoor Risk Analysis
Deckers Outdoor disclosed 2 risk factors in its most recent earnings report. Deckers Outdoor reported the most risks in the "Legal & Regulatory" 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $12.78B | 12.92 | 41.10% | ― | 7.48% | 8.03% | |
71 Outperform | $1.49B | 14.45 | 26.91% | 2.10% | 8.31% | 39.91% | |
70 Outperform | $6.89B | 16.59 | 12.95% | ― | 20.35% | 54.59% | |
68 Neutral | $6.31B | 11.20 | 43.41% | ― | -2.03% | 205.97% | |
64 Neutral | $3.53B | 23.61 | 16.05% | 1.96% | 18.33% | 56.39% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% |
* Consumer Cyclical Sector Average
DECK
Deckers Outdoor
91.20
-12.66
-12.19%
CROX
Crocs
130.61
46.58
55.43%
SHOO
Steven Madden
47.70
21.55
82.42%
WWW
Wolverine World Wide
18.06
-9.82
-35.22%
BIRK
Birkenstock Holding plc
36.74
-11.67
-24.11%
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.