Deckers Brands key statistics and ratios

In fiscal 2026, Deckers Brands had return on equity of 40.9%, an operating margin of 23.1%, debt equal to 0.0% of equity and a current ratio of 3.54. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Deckers Brands: financial ratios, annual
Fiscal year	2010Dec 2009	2011Dec 2010	2012Dec 2011	2013Dec 2012	2014Dec 2013	2015Mar 2015	2016Mar 2016	2017Mar 2017	2018Mar 2018	2019Mar 2019	2020Mar 2020	2021Mar 2021	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026	LTMSept 2026
Gross margin	45.6%	50.2%	49.3%	44.7%	47.3%	48.3%	45.2%	46.7%	48.9%	51.5%	51.8%	54.0%	51.0%	50.3%	55.6%	57.9%	57.7%	58.9%
Operating margin	22.3%	24.9%	20.7%	13.2%	13.4%	12.4%	8.6%	−0.1%	11.7%	16.2%	15.9%	19.8%	17.9%	18.0%	21.6%	23.6%	23.1%	23.6%
Net margin	14.4%	15.8%	14.5%	9.1%	9.4%	8.9%	6.5%	0.3%	6.0%	13.1%	12.9%	15.0%	14.3%	14.2%	17.7%	19.4%	18.7%	19.0%
Free-cash-flow margin	21.1%	11.7%	−1.8%	7.2%	11.7%	4.3%	3.2%	8.6%	15.4%	16.4%	11.9%	22.2%	3.9%	12.6%	22.0%	19.2%	20.1%	18.9%
Return on equity	23.8%	27.7%	26.7%	16.4%	17.9%	17.7%	12.8%	0.6%	12.1%	26.6%	25.3%	29.6%	30.3%	31.3%	39.2%	41.8%	40.9%	44.0%
Return on assets	19.5%	22.5%	20.4%	11.6%	12.5%	13.3%	10.0%	0.5%	9.3%	19.6%	17.3%	19.5%	20.1%	21.1%	26.7%	28.8%	28.2%	27.8%
Asset turnover	1.36	1.42	1.41	1.28	1.34	1.50	1.53	1.45	1.55	1.50	1.34	1.29	1.40	1.48	1.51	1.49	1.51	1.46
Current ratio	5.16	4.94	3.52	2.59	2.59	4.10	3.29	5.16	4.81	4.37	3.97	3.52	3.23	3.84	3.39	3.72	3.54	2.72
Debt to equity	0.0%	0.0%	0.0%	4.5%	1.1%	6.1%	7.0%	0.1%	0.1%	0.1%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	—	—	—	—	—	—	—	—	—	—	—	—	—	189.6x	—	—	—	—
Effective tax rate	36.2%	35.9%	29.2%	29.9%	29.1%	26.8%	22.1%	—	48.2%	—	—	—	—	—	—	—	—	—
R&D as % of revenue	1.0%	1.2%	1.0%	1.1%	1.2%	1.1%	1.2%	1.2%	1.2%	1.1%	1.3%	1.1%	1.1%	1.1%	1.1%	1.1%	1.3%	—
SG&A as % of revenue	23.3%	25.4%	28.6%	31.5%	34.0%	36.0%	36.5%	46.8%	37.3%	35.3%	35.9%	34.2%	33.1%	32.3%	34.0%	34.2%	34.6%	35.3%
Capital spending as % of revenue	1.7%	2.2%	4.0%	4.4%	5.1%	5.0%	3.5%	2.5%	1.8%	1.4%	1.5%	1.3%	1.6%	2.2%	2.1%	1.7%	1.5%	1.4%
Free cash flow ÷ net income	147.1%	74.2%	−12.8%	79.4%	125.1%	48.5%	48.8%	>999%	255.7%	125.0%	91.9%	147.4%	26.8%	88.3%	124.3%	99.2%	107.2%	99.3%
Dividends and buybacks ÷ free cash flow	11.6%	8.6%	—	215.7%	0.0%	136.6%	158.0%	8.1%	51.2%	48.8%	75.0%	17.6%	293.9%	65.2%	44.0%	59.2%	98.0%	118.5%

US$ thousands unless shown otherwise. Fiscal quarters.

Deckers Brands: financial ratios, quarterly
Quarter	2025 Q3Dec 2024	2025 Q4Mar 2025	2026 Q1Jun 2025	2026 Q2Sept 2025	2026 Q3Dec 2025	2026 Q4Mar 2026	2027 Q1Jun 2026	2027 Q2Sept 2026
Gross margin	60.3%	56.7%	55.8%	56.2%	59.8%	57.6%	56.4%	60.5%
Operating margin	31.0%	17.0%	17.1%	22.8%	31.4%	14.0%	15.2%	26.3%
Net margin	25.0%	14.8%	14.4%	18.7%	24.6%	12.1%	12.7%	21.1%
Free-cash-flow margin	58.6%	−8.8%	1.3%	−1.0%	52.1%	7.0%	3.2%	−5.3%
Current ratio	3.17	3.72	2.94	3.07	2.86	3.54	2.75	2.72
SG&A as % of revenue	29.3%	39.7%	38.6%	33.4%	28.5%	43.6%	41.2%	34.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 2 checks passed · September 30, 2026

What it owns · $3.9bn

Short-term assets $2.9bnLonger-term assets $1.0bn

What it owes, and who funded it · $3.4bn

Short-term liabilities $1.1bnShareholders' equity $2.3bn

Short-term assets cover short-term liabilities $2.9bn of assets due within a year against $1.1bn of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $1.3bn against $5m of interest.

From Deckers Brands's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

76 /100

Strong moat

How hard Deckers Brands's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 20 / 20

Net income has been a median 15.8% of total assets over 10 years.
Pricing power 16 / 20

Gross margin has been a median 52.3%, moving by 3.6 percentage points (standard deviation) across 10 years.
Durability 6 / 20

Operating margin has been a median 16.1%; its worst year was 1.8%.
Cash conversion 19 / 20

Free cash flow was positive in 10 of 10 years, at a median 17.1% of revenue.
Discipline 20 / 20

The diluted share count fell 20.2% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (81 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Deckers Brands's SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Deckers Brands.