Deckers Outdoor (DECK) FY2021 results: revenue $2.5 billion, up 19.4% on the year
Deckers Outdoor Corp. (DECK) reported revenue of $2.5 billion for fiscal 2021, the year ended 31 March 2021, up 19.4% on the year before. Net income was $383 million, up 38.5%, and diluted earnings per share $2.25. The figures are the company's own, from the 10-K it filed with the SEC on 28 May 2021.
Revenue
$2.5 billion
+19.4% on the year
FY2015FY2021
Operating margin
19.8%
15.9% a year earlier
FY2015FY2021
Net income
$383 million
+38.5% on the year
FY2015FY2021
Diluted EPS
$2.25
+40.0% on the year
FY2015FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
2,546
2,133
2,020
+19.4%
Cost of revenue
1,172
1,029
980
+13.9%
Gross profit
1,374
1,104
1,040
+24.5%
Gross margin
54.0%
51.8%
51.5%
Research and development
28.6
27.6
23.2
+3.9%
Selling, general and administrative
870
766
713
+13.6%
Operating income
504
338
327
+49.1%
Operating margin
19.8%
15.9%
16.2%
Income tax
119
64.7
64.6
+83.8%
Net income
383
276
264
+38.5%
Net margin
15.0%
12.9%
13.1%
Diluted EPS
$2.25
$1.60
$1.47
+40.0%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
596
286
360
+108.2%
Capital expenditure
32.2
32.5
29.1
-0.7%
Free cash flow
564
254
330
+122.2%
Free cash flow margin
22.2%
11.9%
16.4%
Cash from investing
-32.2
-32.0
-29.0
Cash from financing
-130
-192
-167
Depreciation and amortisation
40.5
38.9
44.9
+4.2%
Share-based compensation
22.7
14.5
14.8
+56.8%
Buybacks
99.1
190
161
-47.9%
Diluted shares, weighted
170m
172m
179m
-1.0%
Shares outstanding at period end
167m
168m
175m
-0.3%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
1,444
1,140
1,045
+26.7%
Short-term borrowings
0.0
0.6
0.6
Debt
0.0
30.3
30.9
Operating lease liabilities
176
216
n/a
-18.3%
Other liabilities
547
378
351
+44.6%
Total liabilities and equity
2,168
1,765
1,427
+22.8%
Fixed assets
206
209
214
-1.4%
Goodwill
14.0
14.0
14.0
0.0%
Intangible assets
41.9
48.0
51.5
-12.6%
Cash and equivalents
1,089
649
590
+67.7%
Receivables
216
186
179
+16.2%
Inventory
278
312
279
-10.7%
Other assets
322
347
101
-7.2%
Total assets
2,168
1,765
1,427
+22.8%
10-K for the year ended 31 March 2021, filed 28 May 2021: the filing.