Deckers OutdoorDECK

Deckers OutdoorDECK

Revenue: is the business selling more than it used to?

$5.5B+10% YoYFY 2025

→Revenue reached $5.5B in 2025, compounding +15% a year since 2022 though the pace has cooled. The last twelve months (+8%) ran below that pace, so growth is slowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

Net income: how much of that revenue becomes profit?

$1.0B+6% YoYFY 2025

→Net income was $1.0B in 2025, compounding +26% a year over three years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

How fast is it growing, year by year?

+9.8%revenue growth, FY 2025

→Revenue grew +10% in 2025 against a five-year average of +17%. Earnings grew more slowly (+6%), so costs are absorbing part of the growth. 2017's +1903% earnings rebound off a collapsed base sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

Revenue per share: is your slice growing as fast as the company?

$37.53revenue per share, FY 2025

→Revenue per share reached $37.53 in 2025, compounding +18% a year against +15% for DECK as a whole. Buybacks added roughly 3.6 points to your per-share result. Free cash flow per share stands at $7.53.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

Free cash flow: what is left in real cash after everything?

$1.1B+15% YoYFY 2025

→Free cash flow was $1.1B in 2025, compounding +34% a year since 2022. That is the most cash the business has ever thrown off in a year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

Where does each dollar of revenue actually go?

→Of $5.5B in 2025 sales, $1.0B reaches net profit - 19 cents on the dollar. The largest single deduction is producing the product ($2.3B).

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

How much of every sales dollar ends up as free cash?

→20 cents of every sales dollar became free cash in 2025, up 7 points since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is capital spending, at 2% of revenue (research and development 1%, stock compensation 1%). That share has fallen since 2022, so the cost of competing is easing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in 3 of the last 5 years, most recently +7% against +10%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin widened 5 points to 23% since 2022. After everything, 19 cents of each sales dollar reaches net profit.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

What does it earn on the money it uses?

→ROE of 44% and ROCE of 43% sit close together, so the returns come from the business itself rather than from borrowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

What has the market paid for DECK over time?

12.3xP/E today

→At 12.3x earnings, the market is paying 31% less than DECK's own 11-year median of 17.8x. Pessimism is priced in - the question is whether it is deserved. Today's multiple is the lowest in the charted history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

What cash return does the business throw off per dollar of market value?

9.5%FCF yield today

→Every dollar of market value currently buys 9.5% of annual free cash flow, more than its 11-year median of 5.9% - the cash is cheaper than usual.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

Could it handle its debt if things went wrong?

→Debt isn't clearly tagged in DECK's filings, so treat the balance sheet with extra care rather than assuming zero.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

Is the company's own capital growing?

→The company's own capital grew from $2.1B in 2023 to $2.3B (+9%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

How much goes back, and how much leaks out as stock comp?

→Shareholders received $1.1B in buybacks in 2025. Stock compensation issued $45M of new shares in the same year, offsetting 4% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

How fast is your ownership being diluted - or concentrated?

→The share count shrank 4.5% in 2025, averaging 3.1% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

Does DECK earn more on its capital than that capital costs?

→DECK earns 42.8% on the capital it employs, well above the 10% most investors treat as the cost of capital. It was 32.7% in 2022, so the trend is up, though the pace has cooled. That is the highest in DECK's filed history.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Deckers OutdoorDECK

DECK has issued or retired shares - did shareholders end up better off?

→DECK has shrunk its share count -30% from 2014 to 2025, so each remaining share owns more of the business. Revenue per share is +330% over the same years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30