2024

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<p class="has-drop-cap">Deckers Brands (NYSE: DECK) reported its financial results for the <a href="https://ir.deckers.com/news-events/press-releases/press-release/2024/DECKERS-BRANDS-REPORTS-FOURTH-QUARTER-AND-FULL-FISCAL-YEAR-2024-FINANCIAL-RESULTS/" target="_blank" aria-label="fourth quarter and full fiscal year 2024 (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">fourth quarter and full fiscal year 2024</a>, ending March 31, 2024. The company posted record net sales and significant growth across its key brands, particularly HOKA and UGG.</p>
<h3 id="deckers-brands-full-fiscal-year-2024-financial-review">Deckers Brands Full Fiscal Year 2024 Financial Review</h3>
<p>Net sales for the full fiscal year 2024 increased by 18.2% to $4.288 billion compared to the previous year. Domestic net sales grew by 16.8% to $2.864 billion, while international net sales increased by 21.1% to $1.424 billion. Direct-to-consumer (DTC) sales saw a substantial increase of 26.5% to $1.855 billion, and wholesale sales rose by 12.6% to $2.432 billion.<br><br>Regarding brand performance, HOKA continued its strong growth trajectory with a 27.9% increase in net sales, reaching $1.807 billion. UGG also experienced significant growth, with net sales increasing by 16.1% to $2.239 billion. However, Teva and Sanuk faced challenges, with net sales decreasing by 18.9% and 33%, respectively. Other brands, primarily Koolaburra, saw a modest increase of 5.9% in net sales.<br><br>Key financial metrics also improved, with gross margin rising to 55.6% from 50.3% in the previous year. SG&amp;A expenses increased to $1.458 billion while operating income rose to $927.5 million. <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">Diluted EPS</a> significantly increased, reaching $29.16 compared to $19.37 in the previous fiscal year.</p>
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<h3 id="balance-sheet-and-stock-repurchase-program">Balance Sheet and Stock Repurchase Program</h3>
<p>Deckers Brands’ balance sheet remained strong, with cash and cash equivalents increasing to $1.502 billion from $981.8 million in the previous year. Inventories decreased to $474.3 million, and the company had no outstanding borrowings as of March 31, 2024.<br><br>During the fourth quarter, Deckers <a href="https://tokenist.com/investing/what-is-a-stock-buyback/" rel="noopener noreferrer nofollow" class="deco-link">repurchased</a> approximately 119 thousand shares for $104.3 million at an average price of $875.01 per share. For the full fiscal year, the company repurchased approximately 715 thousand shares for $414.9 million at an average price of $580.44 per share. As of March 31, 2024, the remaining authorization for stock repurchases was approximately $941.7 million.</p>
<h3 id="deckers-stock-price-update">Deckers Stock Price Update</h3>
<p>Deckers Brands’ stock has been performing exceptionally well, with the stock price at $1,029.08 as of 12:19 PM EDT on the day of the earnings report. The company’s market capitalization stands at $26.415 billion, with an average trading volume of 260,000 shares.</p>
<p>Comparative returns showcase the stock’s outstanding performance, with a year-to-date return of 53.95%, a 1-year return of 129.30%, a 3-year return of 206.49%, and a 5-year return of 598.11%. These returns significantly outperform the <a href="https://tokenist.com/the-bull-and-bear-case-for-spx-in-2024/" rel="noopener noreferrer nofollow" class="deco-link">S&amp;P 500 benchmark</a> across all time periods.</p>
<p>Valuation measures indicate a trailing P/E ratio of 32.69 and a forward P/E ratio of 30.21. The company’s <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="noopener noreferrer nofollow" class="deco-link">price/sales (TTM) ratio</a> is 5.76, and its price/book (MRQ) ratio is 11.04. The enterprise value/revenue and enterprise value/EBITDA ratios stand at 5.30 and 22.15, respectively.<br><br>Deckers Brands’ financial highlights demonstrate strong profitability and growth. The company’s profit margin is 17.71%, with a return on assets (TTM) of 20.37% and a return on equity (TTM) of 39.22%. Revenue (TTM) reached $4.29 billion, with a net income available to common stockholders (TTM) of $759.56 million and a diluted EPS (TTM) of $27.68.</p>
<p>Analyst price targets for Deckers Brands range from a low estimate of $744.98 to a high estimate of $1,150.00.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/deckers-brands-announces-record-q4-results-stock-surges/">Deckers Brands Announces Record Q4 Results, Stock Surges</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Deckers Brands Announces Record Q4 Results, Stock Surges

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