Stock Analysis on Net
Stock Analysis on Net

Deckers Outdoor Corp. (NYSE:DECK)

This company has been moved to the archive! The financial data has not been updated since February 5, 2024.

DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin

Microsoft Excel

Decomposing ROE involves expressing net income divided by shareholders’ equity as the product of component ratios.

Two-Component Disaggregation of ROE

Deckers Outdoor Corp., decomposition of ROE

Microsoft Excel
ROE = ROA × Financial Leverage
Mar 31, 2023 29.27% = 20.22% × 1.45
Mar 31, 2022 29.37% = 19.38% × 1.52
Mar 31, 2021 26.49% = 17.65% × 1.50
Mar 31, 2020 24.22% = 15.64% × 1.55
Mar 31, 2019 25.29% = 18.52% × 1.37
Mar 31, 2018 12.16% = 9.05% × 1.34

Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over 2023 year is the decrease in financial leverage ratio.

Three-Component Disaggregation of ROE

Deckers Outdoor Corp., decomposition of ROE

Microsoft Excel
ROE = Net Profit Margin × Asset Turnover × Financial Leverage
Mar 31, 2023 29.27% = 14.25% × 1.42 × 1.45
Mar 31, 2022 29.37% = 14.35% × 1.35 × 1.52
Mar 31, 2021 26.49% = 15.03% × 1.17 × 1.50
Mar 31, 2020 24.22% = 12.95% × 1.21 × 1.55
Mar 31, 2019 25.29% = 13.08% × 1.42 × 1.37
Mar 31, 2018 12.16% = 6.01% × 1.51 × 1.34

Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over 2023 year is the decrease in financial leverage ratio.

Five-Component Disaggregation of ROE

Deckers Outdoor Corp., decomposition of ROE

Microsoft Excel
ROE = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Financial Leverage
Mar 31, 2023 29.27% = 0.78 × 0.99 × 18.46% × 1.42 × 1.45
Mar 31, 2022 29.37% = 0.80 × 1.00 × 17.99% × 1.35 × 1.52
Mar 31, 2021 26.49% = 0.76 × 0.99 × 19.94% × 1.17 × 1.50
Mar 31, 2020 24.22% = 0.81 × 0.99 × 16.22% × 1.21 × 1.55
Mar 31, 2019 25.29% = 0.80 × 0.99 × 16.51% × 1.42 × 1.37
Mar 31, 2018 12.16% = 0.52 × 0.98 × 11.84% × 1.51 × 1.34

Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).

The primary reason for the decrease in return on equity ratio (ROE) over 2023 year is the decrease in financial leverage ratio.

Two-Component Disaggregation of ROA

Deckers Outdoor Corp., decomposition of ROA

Microsoft Excel
ROA = Net Profit Margin × Asset Turnover
Mar 31, 2023 20.22% = 14.25% × 1.42
Mar 31, 2022 19.38% = 14.35% × 1.35
Mar 31, 2021 17.65% = 15.03% × 1.17
Mar 31, 2020 15.64% = 12.95% × 1.21
Mar 31, 2019 18.52% = 13.08% × 1.42
Mar 31, 2018 9.05% = 6.01% × 1.51

Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).

The primary reason for the increase in return on assets ratio (ROA) over 2023 year is the increase in asset turnover ratio.

Four-Component Disaggregation of ROA

Deckers Outdoor Corp., decomposition of ROA

Microsoft Excel
ROA = Tax Burden × Interest Burden × EBIT Margin × Asset Turnover
Mar 31, 2023 20.22% = 0.78 × 0.99 × 18.46% × 1.42
Mar 31, 2022 19.38% = 0.80 × 1.00 × 17.99% × 1.35
Mar 31, 2021 17.65% = 0.76 × 0.99 × 19.94% × 1.17
Mar 31, 2020 15.64% = 0.81 × 0.99 × 16.22% × 1.21
Mar 31, 2019 18.52% = 0.80 × 0.99 × 16.51% × 1.42
Mar 31, 2018 9.05% = 0.52 × 0.98 × 11.84% × 1.51

Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).

The primary reason for the increase in return on assets ratio (ROA) over 2023 year is the increase in efficiency measured by asset turnover ratio.

Disaggregation of Net Profit Margin

Deckers Outdoor Corp., decomposition of net profit margin ratio

Microsoft Excel
Net Profit Margin = Tax Burden × Interest Burden × EBIT Margin
Mar 31, 2023 14.25% = 0.78 × 0.99 × 18.46%
Mar 31, 2022 14.35% = 0.80 × 1.00 × 17.99%
Mar 31, 2021 15.03% = 0.76 × 0.99 × 19.94%
Mar 31, 2020 12.95% = 0.81 × 0.99 × 16.22%
Mar 31, 2019 13.08% = 0.80 × 0.99 × 16.51%
Mar 31, 2018 6.01% = 0.52 × 0.98 × 11.84%

Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).

The primary reason for the decrease in net profit margin ratio over 2023 year is the decrease in effect of taxes measured by tax burden ratio.