olivLaw · US equity research
Deckers Brands DECK
Rubber & Plastics Footwear · SIC 3021 · Vertical: Rubber and plastics products (SIC 30xx)
Deckers Brands designs, markets and distributes footwear, apparel and accessories under the HOKA, UGG and Teva brands. Net sales reached 5.472 bn USD in fiscal 2026, and HOKA remains the main growth driver, which makes the company relevant to investors following premium footwear.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Deckers Brands (DECK) stock was 89.11 USD (+5.97% on the day), with market capitalisation 11.9 bn USD, P/E 11.8 on diluted EPS of 7.54 USD over the last 12 months, beta 1.29, 52-week range 77.51–120.94 USD. Latest reported quarter (Q2 2027): revenue of 1.5 bn USD (+3.5% YoY), net income of 313.1 m USD (+16.8% YoY), diluted EPS 2.31 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 63.7
- strong (55–70)
- Bollinger (20, 2)
- 79.16 – 88.83
- above the upper band · %B 1.03 · band width 11.5%
- SMA 50 / 200
- 82.37 / 99.05
- mixed trend
- MACD (12, 26, 9)
- 0.55 / 0.12
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +11.1% | −1.1% | +12.2 pp | — |
| 3 months | −10.3% | −0.5% | −9.8 pp | — |
| 6 months | −14.3% | +4.4% | −18.6 pp | — |
| Year to date | −14.0% | +12.3% | −26.4 pp | — |
| 1 year | +12.0% | +13.5% | −1.5 pp | +13.2% |
| 3 years | −10.5% | +76.4% | −86.9 pp | +26.0% |
| 5 years | +26.3% | +63.7% | −37.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.8 bn | 1.0 bn | 964.5 m | 1.4 bn | 2.0 bn | 1.1 bn | 1.0 bn | 1.5 bn |
| Cost of revenue | 724.5 m | 442.0 m | 426.6 m | 627.0 m | 786.2 m | 474.7 m | 444.4 m | 585.4 m |
| Gross profit | 1.1 bn | 579.8 m | 537.9 m | 803.8 m | 1.2 bn | 644.6 m | 575.2 m | 895.1 m |
| SG&A | 535.3 m | 405.8 m | 372.6 m | 477.3 m | 557.0 m | 487.9 m | 419.9 m | 505.7 m |
| Operating income | 567.3 m | 173.9 m | 165.3 m | 326.5 m | 614.4 m | 156.7 m | 155.3 m | 389.5 m |
| Depreciation & amortisation | 17.2 m ≈ | 18.4 m | 19.4 m | 19.7 m ≈ | 18.0 m ≈ | 18.6 m | 17.7 m | 18.3 m ≈ |
| Interest expense | 610.0 k | 725.0 k | 935.0 k | 521.0 k | 1.1 m | 5.0 k | 2.2 m | 1.4 m |
| Income tax | 127.2 m | 39.9 m | 43.9 m | 74.2 m | 145.8 m | 38.5 m | 39.1 m | 90.3 m |
| Net income | 456.7 m | 151.4 m | 139.2 m | 268.2 m | 481.1 m | 135.6 m | 130.0 m | 313.1 m |
| Diluted EPS | 3.00 | 1.00 ≈ | 0.93 | 1.82 | 3.33 | 0.96 ≈ | 0.94 | 2.31 |
| Operating cash flow | 1.1 bn ≈ | -73.0 m | 36.1 m | 8.1 m ≈ | 1.0 bn ≈ | 95.8 m | 47.9 m | -57.2 m ≈ |
| Capex | 24.4 m ≈ | 16.4 m | 23.9 m | 22.0 m ≈ | 21.6 m ≈ | 17.1 m | 15.2 m | 22.0 m ≈ |
| Share repurchases | 44.7 m ≈ | 266.0 m | 183.0 m | 282.0 m ≈ | 348.5 m ≈ | 261.6 m | 338.2 m | 299.3 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 69 percentile of its own 39-quarter history (min 2.3, median 4.2, max 66.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.0 bn | 2.1 bn | 2.5 bn | 3.2 bn | 3.6 bn | 4.3 bn | 5.0 bn | 5.5 bn |
| Revenue YoY | +6.2% | +5.6% | +19.4% | +23.8% | +15.1% | +18.2% | +16.3% | +9.8% |
| Net income | 264.3 m | 276.1 m | 382.6 m | 451.9 m | 516.8 m | 759.6 m | 966.1 m | 1.0 bn |
| Net income YoY | +131.1% | +4.5% | +38.5% | +18.1% | +14.4% | +47.0% | +27.2% | +6.0% |
| Diluted EPS | 8.84 | 9.62 | 13.47 | 16.26 | 3.23 | 4.86 | 6.33 | 7.02 |
| Diluted EPS YoY | +146.9% | +8.8% | +40.0% | +20.7% | −80.1% | +50.5% | +30.2% | +10.9% |
| net % | 13.1% | 12.9% | 15.0% | 14.3% | 14.2% | 17.7% | 19.4% | 18.7% |
| Free cash flow | 330.4 m | 253.9 m | 564.0 m | 121.3 m | 456.4 m | 943.8 m | 958.4 m | 1.1 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 1.9 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 2.5 bn USD
- Total assets
- 3.7 bn USD
- Debt / equity
- unavailable
- Current ratio
- 3.54x
- ROE
- 40.9%
- ROA
- 28.2%
- FCF margin
- 20.1%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 2.5 bn | 3.2 bn | 3.6 bn | 4.3 bn | 5.0 bn | 5.5 bn | SEC (XBRL)· 22 May 2026verified |
| Cost of revenue | 1.2 bn | 1.5 bn | 1.8 bn | 1.9 bn | 2.1 bn | 2.3 bn | SEC (XBRL)· 22 May 2026verified |
| Gross profit | 1.4 bn | 1.6 bn | 1.8 bn | 2.4 bn | 2.9 bn | 3.2 bn | SEC (XBRL)· 22 May 2026verified |
| Research & development | 28.6 m | 33.3 m | 38.7 m | 49.2 m | 56.7 m | 68.9 m | SEC (XBRL)· 22 May 2026verified |
| SG&A | 869.9 m | 1.0 bn | 1.2 bn | 1.5 bn | 1.7 bn | 1.9 bn | SEC (XBRL)· 22 May 2026verified |
| Operating income | 504.2 m | 564.7 m | 652.8 m | 927.5 m | 1.2 bn | 1.3 bn | SEC (XBRL)· 22 May 2026verified |
| Depreciation & amortisation | 40.5 m | 42.9 m | 47.9 m | 57.6 m | 69.4 m | 75.8 m | SEC (XBRL)· 22 May 2026verified |
| EBITDA | 544.7 m ≈ | 607.6 m ≈ | 700.6 m ≈ | 985.1 m ≈ | 1.2 bn ≈ | 1.3 bn ≈ | SEC (XBRL)· 22 May 2026derived |
| Interest expense | — | — | 3.4 m | 2.6 m | 3.5 m | 2.5 m | SEC (XBRL)· 22 May 2026verified |
| Income tax | 118.9 m | 112.7 m | 149.3 m | 219.4 m | 277.2 m | 302.3 m | SEC (XBRL)· 22 May 2026verified |
| Net income | 382.6 m | 451.9 m | 516.8 m | 759.6 m | 966.1 m | 1.0 bn | SEC (XBRL)· 22 May 2026verified |
| Diluted EPS | 13.47 | 16.26 | 3.23 | 4.86 | 6.33 | 7.02 | SEC (XBRL)· 22 May 2026verified |
| Weighted average diluted shares | 28.4 m | 27.8 m | 160.1 m | 156.3 m | 152.7 m | 145.8 m | SEC (XBRL)· 22 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.1 bn | 843.5 m | 981.8 m | 1.5 bn | 1.9 bn | 1.9 bn | SEC (XBRL)· 22 May 2026verified |
| Receivables | 215.7 m | 302.7 m | 301.5 m | 296.6 m | 332.9 m | 319.0 m | SEC (XBRL)· 22 May 2026verified |
| Inventories | 278.2 m | 506.8 m | 532.9 m | 474.3 m | 495.2 m | 487.0 m | SEC (XBRL)· 22 May 2026verified |
| Current assets | 1.7 bn | 1.8 bn | 1.9 bn | 2.4 bn | 2.9 bn | 2.9 bn | SEC (XBRL)· 22 May 2026verified |
| Property, plant & equipment, net | 206.2 m | 222.4 m | 266.7 m | 302.1 m | 325.6 m | 337.8 m | SEC (XBRL)· 22 May 2026verified |
| Goodwill | 14.0 m | 14.0 m | 14.0 m | 14.0 m | 14.0 m | 14.0 m | SEC (XBRL)· 22 May 2026verified |
| Intangibles (excl. goodwill) | 41.9 m | 39.7 m | 37.5 m | 27.1 m | 15.7 m | 15.6 m | SEC (XBRL)· 22 May 2026verified |
| Total assets | 2.2 bn | 2.3 bn | 2.6 bn | 3.1 bn | 3.6 bn | 3.7 bn | SEC (XBRL)· 22 May 2026verified |
| Short-term debt | 0 | — | — | — | — | — | SEC (XBRL)· 28 May 2021verified |
| Current liabilities | 468.4 m | 541.7 m | 497.4 m | 720.0 m | 769.9 m | 804.1 m | SEC (XBRL)· 22 May 2026verified |
| Equity | 1.4 bn † | 1.5 bn † | 1.8 bn † | 2.1 bn † | 2.5 bn † | 2.5 bn † | SEC (XBRL)· 22 May 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 596.2 m | 172.4 m | 537.4 m | 1.0 bn | 1.0 bn | 1.2 bn | SEC (XBRL)· 22 May 2026verified |
| Capex | 32.2 m | 51.0 m | 81.0 m | 89.4 m | 86.2 m | 84.6 m | SEC (XBRL)· 22 May 2026verified |
| Free cash flow | 564.0 m ≈ | 121.3 m ≈ | 456.4 m ≈ | 943.8 m ≈ | 958.4 m ≈ | 1.1 bn ≈ | SEC (XBRL)· 22 May 2026derived |
| Investing cash flow | -32.2 m | -51.0 m | -81.0 m | -89.3 m | -75.0 m | -84.6 m | SEC (XBRL)· 22 May 2026verified |
| Financing cash flow | -129.6 m | -367.5 m | -309.0 m | -417.7 m | -581.3 m | -1.1 bn | SEC (XBRL)· 22 May 2026verified |
| Share repurchases | 99.1 m | 356.7 m | 297.4 m | 414.9 m | 567.0 m | 1.1 bn | SEC (XBRL)· 22 May 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 99 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 11.9 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation96
- Returns100
- Quality100
- Balance sheet100
- Growth100
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 158.03 – 272.38 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E158.03 – 272.38 (Mid 182.30)12 companies used · median multiple 24.2x · quartiles 21.0x – 36.1xATR, AWI, CMT, CROX, CSL, DSWL, ENTG, KRT, MYE, NKE, ONON, WMS
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 99/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 19.0% | 100 (vs peers) | 10% |
| FCF conversion · Quality | 99.3% | 99 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 14.7% | 100 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | 29.5% | 100 (on a fixed band) | 13% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 279.7x | 100 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 2.7x | 100 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 11.8x | 93 (vs peers) | 16% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 8.8% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 10.5% | 100 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet100/100 · 2/3 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality100/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation96/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
DECKERS OUTDOOR CORP (DECK). Latest full fiscal year: 2026; data up to 2026-09-30.
Figures computed from the financial statements: revenue 5.5 bn USD in 2026; YoY growth 9.8%; net margin 19.0%; ROE 44.3%.
The estimated value range is 158.03–272.38 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 182.30 USD, the price of 89.11 USD leaves a potential of 104.6% (value / price − 1) and a margin of safety of 51.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 99/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 19.0%
- FCF conversion: 99.3%
- Revenue CAGR 3Y: 14.7%
- EPS CAGR 3Y: 29.5%
- Interest coverage: 279.7x
- Current ratio: 2.7x
- P/E (TTM): 11.8x
- FCF yield: 8.8%
- Shareholder yield (distributions): 10.5%
- The price is below the estimated value range
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, EV/EBITDA, Payout ratio (FCF).
Versus the vertical median
Rubber and plastics products (SIC 30xx) · same major group (2-digit SIC) · compared with 18 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| ENTGEntegris, Inc. | 21.8 bn | 55.7 | 9.6% | 11.1% | −1.4% | +85% / +37% |
| CSLCarlisle Companies Incorporated | 15.4 bn | 22.6 | 41.9% | 13.8% | +0.3% | +25% / +42% |
| DECKDeckers Outdoor Corp | 11.9 bn | 11.8 | 44.3% | 19.0% | +9.8% | +12% / −10% |
| ONONOn Holding AG | 11.5 bn | 56.3 | 13.5% | 6.8% | +30.0% | −12% / +33% |
| WMSAdvanced Drainage Systems, Inc. | 10.9 bn | 24.9 | 26.1% | 14.0% | +5.0% | −5% / +19% |
| ATRAptarGroup, Inc | 9.3 bn | 35.6 | 9.9% | 6.7% | +5.4% | +18% / +16% |
| AWIArmstrong World Industries, Inc. | 7.4 bn | 23.5 | 36.0% | 18.4% | +12.1% | −7% / +107% |
| CROXCrocs, Inc. | 7.3 bn | 11.9 | 49.1% | 16.2% | −1.5% | +88% / +51% |
| NPOEnpro Inc | 5.9 bn | 94.7 | 4.0% | 4.9% | +9.0% | +25% / +116% |
| NWLNewell Brands Inc | 2.5 bn | — | -12.8% | -4.4% | −5.0% | +61% / −23% |
| GTThe Goodyear Tire & Rubber Company | 1.3 bn | — | -63.9% | -14.4% | −3.2% | −47% / −67% |
| MYEMyers Industries, Inc. | 1.1 bn | 37.6 | 9.7% | 3.3% | −1.3% | +58% / +62% |
| KRTKarat Packaging Inc. | 1.1 bn | 21.5 | 31.2% | 10.2% | +10.7% | +143% / +149% |
| SWIMLatham Group, Inc. | 963.2 m | 100.2 | 2.2% | 1.6% | +7.4% | +14% / +262% |
| LWLGLightwave Logic, Inc. | 662.9 m | — | -34.4% | -9,134.4% | +147.7% | −1% / +8% |
| CMTCore Molding Technologies, Inc. | 187.1 m | 26.1 | 4.4% | 2.4% | −9.5% | +12% / +18% |
| DSWLDeswell Industries, Inc. | 46.5 m | 4.4 | 10.0% | 17.3% | −9.3% | −19% / +12% |
| YHGJYunhong Green Cti Ltd. | 9.2 m | — | -29.5% | -14.4% | +9.8% | −29% / −87% |
| NKENIKE, Inc. | — | 19.5 | 21.6% | 6.7% | +0.2% | −37% / −63% |
1- and 3-year price returns: for DECK from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 61.16 Total return -31% · Per year -31% | 107.65 Total return 21% · Per year 21% | 161.50 Total return 81% · Per year 81% |
| 3 years | 72.14 Total return -19% · Per year -7% | 141.61 Total return 59% · Per year 17% | 231.36 Total return 160% · Per year 37% |
| 5 years | 85.09 Total return -5% · Per year -1% | 186.27 Total return 109% · Per year 16% | 331.44 Total return 272% · Per year 30% |
- Exit P/E± 35.40
- Net margin± 24.78
- Annual revenue growth± 18.53
- Annual dilution± 2.08
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 22 Oct 2026; since then the company filed 10-Q (29 Oct 2026).
In brief
Deckers Brands designs, markets and distributes footwear, apparel and accessories under the HOKA, UGG and Teva brands. Net sales reached 5.472 bn USD in fiscal 2026, and HOKA remains the main growth driver, which makes the company relevant to investors following premium footwear.
SWOT
Strengths
- A portfolio of strong brands, especially HOKA and UGG, with global recognition and consumer loyalty 1.
- An omnichannel model combining wholesale distribution with DTC and company-owned stores, giving control over the customer experience 1.
- Solid financial capacity, with record results in the second quarter of fiscal 2027 and no outstanding borrowings 3.
Weaknesses
- Significant dependence on production concentrated in Southeast Asia, which carries supply chain disruption risk 1.
- Exposure to rapid shifts in consumer preferences, which can lead to excess inventory and margin pressure 1.
- A sharp decline in the Teva brand and the Other brands segment, showing difficulty in repositioning a mature brand 13.
Opportunities
- International expansion of HOKA and UGG, where sales have grown significantly, could support long-term growth 1.
- Developing DTC through digital platforms, data analytics and selective stores could improve margins 1.
- Extending apparel and accessories categories for HOKA and UGG could generate additional revenue 1.
Risks
- Reliance on tariffs and refundshigh
Margins could be hit if tariffs rise or if IEEPA refunds do not arrive in the expected form, and the second-quarter benefit is not assured to recur 23.
- Concentrated manufacturinghigh
Most products are made in Southeast Asia, so logistical or political disruption in the region could reduce product availability 1.
- Shifts in consumer preferencesmedium
If brands fail to respond quickly to changing preferences, sales and loyalty could fall and inventory could become excessive 1.
- Distribution disruptionsmedium
Problems at company or third-party warehouses, especially during the transition to a new international logistics partner, could delay shipments 1.
- Currency and macroeconomic conditionslow
Currency swings and inflation can affect results, and the company notes these effects could become more important in future periods 13.
Investment thesis
What would need to be true (bull case)
- Rapid growth at HOKA and its international expansion could support long-term growth if the brand keeps its position in premium performance footwear 13.
- Gross margin rose significantly in the second quarter of fiscal 2027 and full-year guidance was raised, which points to management's ability to manage costs 3.
- An active share repurchase program and a debt-free balance sheet could give the company financial flexibility for investment and shareholder returns 3.
What would break the thesis
- Second-quarter profit growth was partly supported by tariff refunds, which are not recurring, so future results could be weaker if these benefits do not continue 3.
- Sales of Other brands and Teva have fallen sharply, and repositioning difficulties could keep weighing on overall company performance 13.
- If promotional pressure in the industry rises and consumers become more cautious, margins could fall below recent levels 1.
What to watch
- Development of IEEPA tariff refunds and their effect on gross marginQ3 2027
- Delivery against net sales guidance of 5.700 to 5.725 bn USD2027
- HOKA and UGG sales trends in international regionsQ3 2027
- Progress of the transition to the new international logistics partner and any disruptionsnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 22 Oct 2026; since then the company filed 10-Q (29 Oct 2026).
The business
Deckers Brands is a global leader in designing, marketing and distributing footwear, apparel and accessories for both casual lifestyle use and high-performance activities. It markets its products mainly under three proprietary brands: HOKA, UGG and Teva 1. Products are made by independent manufacturers, mostly in Southeast Asia, and sold through a wholesale channel to retailers and distributors and through a DTC channel of online and company-owned stores 1.
The DTC channel includes company-owned e-commerce websites in 54 countries and retail stores, and as of March 31, 2026 the company operated 203 global company-owned retail stores 1. The company aims to grow DTC as a larger share of total sales while expanding wholesale distribution with partners to build brand awareness 1.
The company reports three segments: HOKA, UGG and Other brands, the last consisting mainly of Teva and including Koolaburra and AHNU, whose standalone operations were phased out in fiscal 2026, and the former Sanuk brand until its sale in August 2024 1.
Segments
UGG
UGG is the company's largest brand by sales and is described as one of the most recognized brands in the industry, offering premium footwear, apparel and accessories 1. In fiscal 2026 UGG net sales rose 8.2% to 2.739 bn USD 1. Full-year fiscal 2027 guidance for UGG points to a low-single-digit increase, and the product is seasonal and sensitive to weather 3.
Market context
The company competes in the casual lifestyle, performance, running and outdoor footwear and apparel markets 1. International net sales rose 26.8% in fiscal 2026 to 2.281 bn USD, showing that geographic expansion is a significant contributor to growth 1.
The market is described as highly competitive, with rapidly changing consumer preferences and promotional pressure that can affect margins, especially when industry inventory levels are elevated 1.
Trends
- Tariffsmixed
Trade policies and tariffs on goods from regions where the company concentrates sourcing could raise costs. The company has paid IEEPA tariffs and begun seeking refunds, which already contributed a benefit in the second quarter of fiscal 2027, but the availability and final amount remain uncertain 23.
- Tariff refundsmixed
IEEPA refunds helped gross margin in the second quarter and were included in updated guidance, but the company does not assume further collections, so future results could be lower if the benefit does not recur 3.
- Discretionary consumer spendingheadwind
Inflation, high interest rates and macroeconomic pressure could reduce discretionary spending on premium products, and consumers could trade down to cheaper alternatives, which would weigh on sales 1.
- International and DTC expansiontailwind
International growth and the expansion of DTC, including digital platforms and stores, support brand awareness and gross margin, although a larger wholesale share could pressure margins in some periods 12.
Competitive position
The company faces competition from established global brands and from newer entrants, helped by offshore manufacturing and technologies that lower development costs 1. Many competitors have substantially greater financial, technological and marketing resources, which may let them compete aggressively on price 1.
Competition is fought over relationships with key retail accounts, shelf space, digital visibility and distribution channels, and promotional pressure can reduce margins and push consumers toward competing products 1.
- Established global athletic and lifestyle footwear brands
Described in the sources as established competitors with greater marketing and distribution resources 1.
- Newer entrants in performance footwear
New companies that can develop similar products quickly and at lower cost thanks to offshore manufacturing and accessible technology 1.
- Retailers and online platforms with private-label offerings
Channels that can compete for shelf space and digital visibility, affecting brands' access to customers 1.
- Casual consumer footwear makers
Competitors in the lifestyle segment that may attract price-sensitive consumers during periods of economic uncertainty 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- Here are Friday's biggest analyst calls: Nvidia, SpaceX, CoreWeave, Deckers, Unusual Machines & moreCNBC — Top News · 23 Oct 2026 · EN
- Stocks making the biggest moves premarket: AT&T, SpaceX, Moderna, Deckers, Bloom Energy and moreCNBC — Top News · 23 Oct 2026 · EN
- Stocks making the biggest moves in after hours: Western Digital, Bloom Energy, Deckers Outdoor & moreCNBC — Top News · 22 Oct 2026 · EN
- Nike, On Holding, and Deckers Outdoor Are Down Between 23% and 43%. Here's the Stock to Buy, Even if the Fed Keeps Hiking Interest Rates.Yahoo Finance — News · 21 Sept 2026 · EN
- Deckers Outdoor Stock: Is DECK Underperforming the Consumer Discretionary Sector?Yahoo Finance — News · 15 Sept 2026 · EN
- Are Wall Street Analysts Predicting Deckers Outdoor Stock Will Climb or Sink?Yahoo Finance — News · 27 Aug 2026 · EN
The latest news item in our archive is from 23 Oct 2026; the newest SEC filing is from 29 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Quarterly report29 Oct 2026
- Current report22 Oct 2026Results of operations · Departure or appointment of officers · Regulation FD disclosure · Financial statements and exhibits
- Current report15 Sept 2026Shareholder vote
- Current report31 Aug 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Quarterly report30 Jul 2026
- Proxy statement24 Jul 2026
- Current report23 Jul 2026Results of operations
- Annual report22 May 2026
- Current report21 May 2026Results of operations · Financial statements and exhibits
- Quarterly report03 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2026-03-31 · SEC / Deckers Brands · 22 May 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Deckers Brands · 30 Jul 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Deckers Brands · 22 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.