YouTube · Q2 2026 · 2026-08-12
DECK · NYSE
Deckers Outdoor Corporation
Footwear & Accessories · United States
USD 85.003.7% daily changeQuote 2026-11-02 · USD
- Market cap (USD)
- US$11.35B
- Trailing P/E
- 11.26x
- Forward P/E
- 10.39x
- Quarterly revenue growth
- 3.5%
- Trailing net margin
- 19.0%
- Indicated dividend yield
- —
Snapshot 2026-11-03 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2027-01-28 (provider estimate; issuer confirmation unavailable here).
Company background
Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers footwear, apparel, and accessories under the UGG brand; footwear, such as running, trail, hiking, fitness, and lifestyle shoes, as well as apparel and accessories under the HOKA brand; and sandals, shoes, and boots under the Teva brand name. It also provides a casual footwear fashion line under the Koolaburra brand name; and footwear products under the AHNU brand name. The company sells its products through domestic and international retailers, international distributors, and directly to its consumers through its direct-to-consumer business, which includes e-commerce websites and retail stores. Deckers Outdoor Corporation was founded in 1973 and is headquartered in Goleta, California.
Company websiteQ2 FY2027
Go beyond the headline.
DECK Stock: Refunds Lift EPS, Customers Pull Back | Q2 FY2027
Published 2026-10-28
Short takes Q2 FY2027
DECK Stock: The Refund Is Not Demand | Q2 FY2027 #Shorts
Watch Short on YouTube
Q2 FY2027 REPORT HIGHLIGHTS
What’s changed for DECK
Tariff refunds lift reported profit while direct-sales comps weaken and underlying guidance slips; a cash-aware reset from BUY to HOLD.
The earnings lift has two sources.
Refunds and a lower share count amplify a much smaller underlying operating improvement.
Direct demand weakened.
DTC revenue fell 1.8%; comparable sales fell 6.4%, while wholesale grew 5.5%.
The outlook is not an underlying raise.
Subtracting the $0.52 refund benefit puts the EPS midpoint $0.07 below July; sales midpoint fell 2.93%.
Cash needs another filing.
Receivables rose faster than revenue. The current release does not supply September cash flow; annual cash strength cannot resolve that gap.
We are lowering our prior call.
BUY/$120 becomes HOLD/$100; the earlier approximate $96 reference is down 16.10% to $80.54, before any other adjustments.
Comparable businesses
DECK peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | DECKDeckers Outdoor CorporationSnapshot 2026-11-03Financial period: 2026-09-30 | ONONOn Holding AGSnapshot 2026-11-03Financial period: 2026-06-30 | BIRKBirkenstock Holding plcSnapshot 2026-11-03Financial period: 2026-06-30 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$11.35B | US$11.87B | US$5.87B | US$8.87Bn=2 |
| Forward P/EProvider forward earnings estimate | 10.39x | 17.18x | 13.00x | 15.09xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 7.69x | — | — | — |
| Revenue growthLatest quarter vs prior-year quarter | 3.5% | 13.5% | 13.3% | 13.4%n=2 |
| Operating marginLatest reported quarter | 26.3% | 14.0% | 29.0% | 21.5%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | 7.2% | — | — | — |
| Net debt / EBITDANet debt / trailing EBITDA | -0.48x | -1.38x | 1.92x | 0.27xn=2 |
| Debt / equityTotal debt / positive book equity | 0.23x | 0.29x | 0.69x | 0.49xn=2 |
| Trailing P/ETrailing twelve-month earnings | 11.26x | 22.48x | 16.69x | 19.58xn=2 |
| Price / bookPrice / positive book equity per share | 4.89x | 5.12x | 2.01x | 3.56xn=2 |
| EV / salesEnterprise value / trailing revenue | 1.91x | — | — | — |
| Earnings growthLatest quarter vs prior-year quarter | 27.0% | — | -13.0% | — |
| Gross marginTrailing twelve months | 58.9% | 64.8% | 57.5% | 61.2%n=2 |
| Net marginTrailing twelve months | 19.0% | 12.3% | 14.8% | 13.6%n=2 |
| Return on equityProvider trailing return; positive equity only | 44.3% | 24.0% | 12.4% | 18.2%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | 14.6% | 9.0% | 6.8% | 7.9%n=2 |
| Dividend yieldIndicated annual dividend / price | — | — | — | — |
| Earnings payoutProvider trailing dividend payout | 0.0% | 0.0% | 0.0% | 0.0%n=2 |
| Current ratioCurrent assets / current liabilities | 2.72x | 2.83x | 3.78x | 3.31xn=2 |
| BetaProvider historical market sensitivity | 1.11 | 2.08 | 1.26 | 1.67n=2 |
YouTube · Q2 2026 · 2026-08-12
YouTube · Q3 FY2026 · 2026-08-14
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-03. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for DECK
Q2 FY20272026-10-28
FREE RESEARCH PACKET · Q2 FY2027
Deckers: The Refund Raised EPS. The Customer Did Not.
Tariff refunds lift reported profit while direct-sales comps weaken and underlying guidance slips; a cash-aware reset from BUY to HOLD.
Research published October 28, 2026 · Download original report
Read Research PacketDECK Stock: Refunds Lift EPS, Customers Pull Back | Q2 FY2027
Presentation · 2026-10-28 · YouTube
Short takes Q2 FY2027
DECK Stock: The Refund Is Not Demand | Q2 FY2027 #Shorts
Watch Short on YouTube
Q1 FY20272026-07-25
Deckers (DECK) Q1 FY2027: HOKA & UGG Beat and Raised — So Why Is the Stock Near Its Lows?
Presentation · 2026-07-25 · YouTube
Short takes Q1 FY2027
Deckers (DECK): HOKA & UGG Beat — Stock Near Its Lows #shorts
Watch Short on YouTube
Q4 FY20262026-05-22
DECK Stock: HOLD Call - Great Brands Fair Price Q4 FY2026
Presentation · 2026-05-22 · YouTube