Deckers Brands vs On Holding
Deckers Brands is the larger business, with $5.47bn of revenue in fiscal 2026 against $3.64bn for On Holding (1.5 times as much). On Holding grew faster (38.1% against 9.8%). Deckers Brands kept more of each dollar of sales as profit: a net margin of 18.7% against 6.8%. Deckers Brands carries less debt relative to equity (0.0% against 0.0%).
| Latest fiscal year | Deckers BrandsDECK, 2026 | On HoldingONON, 2025 |
|---|---|---|
| Revenue | $5.47bn | $3.64bn |
| Revenue growth | 9.8% | 38.1% |
| Net income | $1.02bn | $246m |
| Operating margin | 23.1% | 12.5% |
| Net margin | 18.7% | 6.8% |
| Return on equity | 40.9% | 13.7% |
| Free cash flow | $1.10bn | $346m |
| Cash | $1.91bn | $1.29bn |
| Total debt | $0 | $0 |
| Debt to equity | 0.0% | 0.0% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $1.08bn | — |
| Employees | 6,000 | — |
| Market value | $11.36bn | $10.54bn |
| Price vs our value range | Below our value range | Below our value range |
| Moat score | 76 (Strong) | — |
| Insider trades, 12 months | 0 buys, 3 sales | 8 buys, 9 sales |