Deckers Outdoor (DECK) FY2024 results: revenue $4.3 billion, up 18.2% on the year

Deckers Outdoor Corp. (DECK) reported revenue of $4.3 billion for fiscal 2024, the year ended 31 March 2024, up 18.2% on the year before. Net income was $760 million, up 47.0%, and diluted earnings per share $4.86. The figures are the company's own, from the 10-K it filed with the SEC on 24 May 2024.

Revenue

$4.3 billion

+18.2% on the year

FY2017FY2024

Operating margin

21.6%

18.0% a year earlier

FY2017FY2024

Net income

$760 million

+47.0% on the year

FY2017FY2024

Diluted EPS

$4.86

+50.5% on the year

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	4,288	3,627	3,150	+18.2%
Cost of revenue	1,902	1,802	1,543	+5.6%
Gross profit	2,385	1,825	1,608	+30.7%
Gross margin	55.6%	50.3%	51.0%
Research and development	49.2	38.7	33.3	+27.2%
Selling, general and administrative	1,458	1,173	1,043	+24.3%
Operating income	928	653	565	+42.1%
Operating margin	21.6%	18.0%	17.9%
Interest expense	2.6	3.4	n/a	-25.5%
Income tax	219	149	113	+47.0%
Net income	760	517	452	+47.0%
Net margin	17.7%	14.2%	14.3%
Diluted EPS	$4.86	$3.23	$2.71	+50.5%

$ million except per share.

Free 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	FY2024	FY2023	FY2022	On the year
Operating cash flow	1,033	537	172	+92.2%
Capital expenditure	89.4	81.0	51.0	+10.3%
Free cash flow	944	456	121	+106.8%
Free cash flow margin	22.0%	12.6%	3.9%
Cash from investing	-89.3	-81.0	-51.0
Cash from financing	-418	-309	-367
Depreciation and amortisation	57.6	47.9	42.9	+20.3%
Share-based compensation	37.3	26.9	26.8	+38.6%
Buybacks	415	297	357	+39.5%
Diluted shares, weighted	156m	160m	167m	-2.4%
Shares outstanding at period end	154m	157m	162m	-2.2%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	2,107	1,766	1,539	+19.4%
Debt	0.0	0.0	0.0
Operating lease liabilities	213	196	172	+9.0%
Other liabilities	815	595	621	+37.0%
Total liabilities and equity	3,136	2,556	2,332	+22.7%
Fixed assets	302	267	222	+13.3%
Goodwill	14.0	14.0	14.0	0.0%
Intangible assets	27.1	37.5	39.7	-27.7%
Cash and equivalents	1,502	982	844	+53.0%
Receivables	297	302	303	-1.6%
Inventory	474	533	507	-11.0%
Other assets	519	422	403	+23.1%
Total assets	3,136	2,556	2,332	+22.7%

10-K for the year ended 31 March 2024, filed 24 May 2024: the filing.