Deckers Outdoor (DECK) FY2019 results: revenue $2.0 billion, up 6.2% on the year
Deckers Outdoor Corp. (DECK) reported revenue of $2.0 billion for fiscal 2019, the year ended 31 March 2019, up 6.2% on the year before. Net income was $264 million, up 131.1%, and diluted earnings per share $1.47. The figures are the company's own, from the 10-K it filed with the SEC on 30 May 2019.
Revenue
$2.0 billion
+6.2% on the year
FY2015FY2019
Operating margin
16.2%
11.7% a year earlier
FY2015FY2019
Net income
$264 million
+131.1% on the year
FY2015FY2019
Diluted EPS
$1.47
+146.9% on the year
FY2015FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,020
1,903
1,790
+6.2%
Cost of revenue
980
972
955
+0.9%
Gross profit
1,040
932
835
+11.7%
Gross margin
51.5%
48.9%
46.7%
Research and development
23.2
22.4
21.3
+3.6%
Selling, general and administrative
713
709
837
+0.5%
Operating income
327
223
-1.9
+47.1%
Operating margin
16.2%
11.7%
-0.1%
Pre-tax income
n/a
221
-7.0
Income tax
64.6
106
-12.7
-39.2%
Effective tax rate
n/a
48.2%
n/a
Net income
264
114
5.7
+131.1%
Net margin
13.1%
6.0%
0.3%
Diluted EPS
$1.47
$0.60
$0.03
+146.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
360
327
199
+9.8%
Capital expenditure
29.1
34.8
44.5
-16.5%
Free cash flow
330
293
155
+12.9%
Free cash flow margin
16.4%
15.4%
8.6%
Cash from investing
-29.0
-34.7
-44.5
Cash from financing
-167
-158
-104
Depreciation and amortisation
44.9
48.6
52.6
-7.5%
Share-based compensation
14.8
14.3
6.0
+3.3%
Buybacks
161
150
12.6
+7.8%
Diluted shares, weighted
179m
192m
194m
-6.5%
Shares outstanding at period end
175m
183m
192m
-4.3%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,045
941
954
+11.1%
Short-term borrowings
0.6
0.6
0.5
+4.3%
Debt
30.9
31.5
32.1
-1.9%
Other liabilities
351
292
205
+20.3%
Total liabilities and equity
1,427
1,264
1,192
+12.9%
Fixed assets
214
220
226
-2.9%
Goodwill
14.0
14.0
14.0
0.0%
Intangible assets
51.5
57.9
65.1
-11.0%
Cash and equivalents
590
430
292
+37.1%
Receivables
179
144
159
+24.3%
Inventory
279
300
299
-6.9%
Other assets
101
99.1
138
+1.7%
Total assets
1,427
1,264
1,192
+12.9%
10-K for the year ended 31 March 2019, filed 30 May 2019: the filing.