Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.

Short-term Activity Ratios (Summary)
Inventory Turnover
Receivables Turnover
Payables Turnover
Working Capital Turnover
Average Inventory Processing Period
Average Receivable Collection Period
Operating Cycle
Average Payables Payment Period
Cash Conversion Cycle

Deckers Outdoor Corp., short-term (operating) activity ratios

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Turnover Ratios
Inventory turnover	3.38	3.04	4.21	3.30	3.52	3.24
Receivables turnover	12.03	10.41	11.80	11.49	11.31	13.24
Payables turnover	6.78	4.71	5.06	6.96	7.84	10.34
Working capital turnover	2.57	2.60	2.15	2.39	2.39	2.64
Average No. Days
Average inventory processing period	108	120	87	111	104	113
Add: Average receivable collection period	30	35	31	32	32	28
Operating cycle	138	155	118	143	136	141
Less: Average payables payment period	54	77	72	52	47	35
Cash conversion cycle	84	78	46	91	89	106

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).

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Short-term activity ratio	Description	The company
Inventory turnover	An activity ratio calculated as cost of goods sold divided by inventory.	Deckers Outdoor Corp. inventory turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Deckers Outdoor Corp. receivables turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Deckers Outdoor Corp. payables turnover ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Working capital turnover	An activity ratio calculated as revenue divided by working capital.	Deckers Outdoor Corp. working capital turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

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Short-term activity ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.	Deckers Outdoor Corp. number of days of inventory outstanding deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnover.	Deckers Outdoor Corp. number of days of receivables outstanding deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Deckers Outdoor Corp. operating cycle deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Deckers Outdoor Corp. number of days of payables outstanding increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Deckers Outdoor Corp. cash conversion cycle deteriorated from 2021 to 2022 and from 2022 to 2023.

Deckers Outdoor Corp., inventory turnover calculation, comparison to benchmarks

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data (US$ in thousands)
Cost of sales	1,801,916)	1,542,788)	1,171,551)	1,029,016)	980,187)	971,697)
Inventories	532,852)	506,796)	278,242)	311,620)	278,842)	299,602)
Short-term Activity Ratio
Inventory turnover¹	3.38	3.04	4.21	3.30	3.52	3.24
Benchmarks
Inventory Turnover, Competitors²
lululemon athletica inc.	2.50	2.74	2.99	3.39	3.64	—
Nike Inc.	3.42	3.00	3.59	2.87	3.85	3.89
Inventory Turnover, Sector
Consumer Durables & Apparel	3.29	2.97	3.53	2.91	3.84	—
Inventory Turnover, Industry
Consumer Discretionary	7.06	6.74	7.06	7.55	7.84	—

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).

¹ 2023 Calculation
Inventory turnover = Cost of sales ÷ Inventories
= 1,801,916 ÷ 532,852 = 3.38

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Inventory turnover	An activity ratio calculated as cost of goods sold divided by inventory.	Deckers Outdoor Corp. inventory turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Deckers Outdoor Corp., receivables turnover calculation, comparison to benchmarks

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data (US$ in thousands)
Net sales	3,627,286)	3,150,339)	2,545,641)	2,132,689)	2,020,437)	1,903,339)
Trade accounts receivable, net of allowances	301,511)	302,688)	215,718)	185,596)	178,602)	143,704)
Short-term Activity Ratio
Receivables turnover¹	12.03	10.41	11.80	11.49	11.31	13.24
Benchmarks
Receivables Turnover, Competitors²
lululemon athletica inc.	61.02	81.25	70.54	98.94	91.89	—
Nike Inc.	12.40	10.01	9.98	13.61	9.16	10.41
Receivables Turnover, Sector
Consumer Durables & Apparel	13.91	11.16	10.81	14.84	9.84	—
Receivables Turnover, Industry
Consumer Discretionary	17.99	18.02	21.14	21.80	21.73	—

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).

¹ 2023 Calculation
Receivables turnover = Net sales ÷ Trade accounts receivable, net of allowances
= 3,627,286 ÷ 301,511 = 12.03

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Receivables turnover	An activity ratio equal to revenue divided by receivables.	Deckers Outdoor Corp. receivables turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Deckers Outdoor Corp., payables turnover calculation, comparison to benchmarks

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data (US$ in thousands)
Cost of sales	1,801,916)	1,542,788)	1,171,551)	1,029,016)	980,187)	971,697)
Trade accounts payable	265,605)	327,487)	231,632)	147,892)	124,974)	93,939)
Short-term Activity Ratio
Payables turnover¹	6.78	4.71	5.06	6.96	7.84	10.34
Benchmarks
Payables Turnover, Competitors²
lululemon athletica inc.	20.95	9.14	11.25	21.95	15.41	—
Nike Inc.	10.11	7.51	8.67	9.41	8.29	8.97
Payables Turnover, Sector
Consumer Durables & Apparel	10.72	7.64	8.81	9.84	8.54	—
Payables Turnover, Industry
Consumer Discretionary	5.23	4.84	4.67	4.77	5.59	—

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).

¹ 2023 Calculation
Payables turnover = Cost of sales ÷ Trade accounts payable
= 1,801,916 ÷ 265,605 = 6.78

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Payables turnover	An activity ratio calculated as cost of goods sold divided by payables.	Deckers Outdoor Corp. payables turnover ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Deckers Outdoor Corp., working capital turnover calculation, comparison to benchmarks

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data (US$ in thousands)
Current assets	1,910,253)	1,752,128)	1,650,799)	1,194,111)	1,095,405)	910,690)
Less: Current liabilities	497,380)	541,684)	468,368)	300,946)	250,524)	189,166)
Working capital	1,412,873)	1,210,444)	1,182,431)	893,165)	844,881)	721,524)

Net sales	3,627,286)	3,150,339)	2,545,641)	2,132,689)	2,020,437)	1,903,339)
Short-term Activity Ratio
Working capital turnover¹	2.57	2.60	2.15	2.39	2.39	2.64
Benchmarks
Working Capital Turnover, Competitors²
lululemon athletica inc.	4.86	5.17	3.55	3.35	3.54	—
Nike Inc.	3.21	2.67	2.68	3.05	4.52	4.00
Working Capital Turnover, Sector
Consumer Durables & Apparel	3.37	2.83	2.74	3.07	4.42	—
Working Capital Turnover, Industry
Consumer Discretionary	16.27	19.61	11.06	13.40	33.38	—

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).

¹ 2023 Calculation
Working capital turnover = Net sales ÷ Working capital
= 3,627,286 ÷ 1,412,873 = 2.57

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Working capital turnover	An activity ratio calculated as revenue divided by working capital.	Deckers Outdoor Corp. working capital turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023.

Deckers Outdoor Corp., average inventory processing period calculation, comparison to benchmarks

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data
Inventory turnover	3.38	3.04	4.21	3.30	3.52	3.24
Short-term Activity Ratio (no. days)
Average inventory processing period¹	108	120	87	111	104	113
Benchmarks (no. days)
Average Inventory Processing Period, Competitors²
lululemon athletica inc.	146	133	122	108	100	—
Nike Inc.	107	122	102	127	95	94
Average Inventory Processing Period, Sector
Consumer Durables & Apparel	111	123	103	126	95	—
Average Inventory Processing Period, Industry
Consumer Discretionary	52	54	52	48	47	—

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).

¹ 2023 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.38 = 108

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Average inventory processing period	An activity ratio equal to the number of days in the period divided by inventory turnover over the period.	Deckers Outdoor Corp. number of days of inventory outstanding deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Deckers Outdoor Corp., average receivable collection period calculation, comparison to benchmarks

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data
Receivables turnover	12.03	10.41	11.80	11.49	11.31	13.24
Short-term Activity Ratio (no. days)
Average receivable collection period¹	30	35	31	32	32	28
Benchmarks (no. days)
Average Receivable Collection Period, Competitors²
lululemon athletica inc.	6	4	5	4	4	—
Nike Inc.	29	36	37	27	40	35
Average Receivable Collection Period, Sector
Consumer Durables & Apparel	26	33	34	25	37	—
Average Receivable Collection Period, Industry
Consumer Discretionary	20	20	17	17	17	—

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).

¹ 2023 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 12.03 = 30

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Average receivable collection period	An activity ratio equal to the number of days in the period divided by receivables turnover.	Deckers Outdoor Corp. number of days of receivables outstanding deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level.

Deckers Outdoor Corp., operating cycle calculation, comparison to benchmarks

No. days

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data
Average inventory processing period	108	120	87	111	104	113
Average receivable collection period	30	35	31	32	32	28
Short-term Activity Ratio
Operating cycle¹	138	155	118	143	136	141
Benchmarks
Operating Cycle, Competitors²
lululemon athletica inc.	152	137	127	112	104	—
Nike Inc.	136	158	139	154	135	129
Operating Cycle, Sector
Consumer Durables & Apparel	137	156	137	151	132	—
Operating Cycle, Industry
Consumer Discretionary	72	74	69	65	64	—

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).

¹ 2023 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 108 + 30 = 138

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Operating cycle	Equal to average inventory processing period plus average receivables collection period.	Deckers Outdoor Corp. operating cycle deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Deckers Outdoor Corp., average payables payment period calculation, comparison to benchmarks

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data
Payables turnover	6.78	4.71	5.06	6.96	7.84	10.34
Short-term Activity Ratio (no. days)
Average payables payment period¹	54	77	72	52	47	35
Benchmarks (no. days)
Average Payables Payment Period, Competitors²
lululemon athletica inc.	17	40	32	17	24	—
Nike Inc.	36	49	42	39	44	41
Average Payables Payment Period, Sector
Consumer Durables & Apparel	34	48	41	37	43	—
Average Payables Payment Period, Industry
Consumer Discretionary	70	75	78	76	65	—

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).

¹ 2023 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.78 = 54

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Average payables payment period	An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period.	Deckers Outdoor Corp. number of days of payables outstanding increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.

Deckers Outdoor Corp., cash conversion cycle calculation, comparison to benchmarks

No. days

	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Selected Financial Data
Average inventory processing period	108	120	87	111	104	113
Average receivable collection period	30	35	31	32	32	28
Average payables payment period	54	77	72	52	47	35
Short-term Activity Ratio
Cash conversion cycle¹	84	78	46	91	89	106
Benchmarks
Cash Conversion Cycle, Competitors²
lululemon athletica inc.	135	97	95	95	80	—
Nike Inc.	100	109	97	115	91	88
Cash Conversion Cycle, Sector
Consumer Durables & Apparel	103	108	96	114	89	—
Cash Conversion Cycle, Industry
Consumer Discretionary	2	-1	-9	-11	-1	—

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).

¹ 2023 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 108 + 30 – 54 = 84

² Click competitor name to see calculations.

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Short-term activity ratio	Description	The company
Cash conversion cycle	A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period.	Deckers Outdoor Corp. cash conversion cycle deteriorated from 2021 to 2022 and from 2022 to 2023.

Deckers Outdoor Corp. (NYSE:DECK)

Analysis of Short-term (Operating) Activity Ratios

Short-term Activity Ratios (Summary)

Inventory Turnover

Receivables Turnover

Payables Turnover

Working Capital Turnover

Average Inventory Processing Period

Average Receivable Collection Period

Operating Cycle

Average Payables Payment Period

Cash Conversion Cycle