Stock Analysis on Net
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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.

Common-Size Income Statement 

Deckers Outdoor Corp., common-size consolidated income statement

Microsoft Excel
12 months ended: Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020 Mar 31, 2019 Mar 31, 2018
Net sales 100.00 100.00 100.00 100.00 100.00 100.00
Cost of sales -49.68 -48.97 -46.02 -48.25 -48.51 -51.05
Gross profit 50.32% 51.03% 53.98% 51.75% 51.49% 48.95%
Selling, general, and administrative expenses -32.33 -33.10 -34.17 -35.90 -35.29 -37.25
Income from operations 18.00% 17.93% 19.81% 15.85% 16.20% 11.69%
Interest income 0.43 0.06 0.10 0.34 0.30 0.16
Interest expense -0.09 -0.07 -0.24 -0.24 -0.23 -0.24
Other income (expense), net 0.03 0.00 0.03 0.02 0.01 -0.02
Other income (expense), net 0.37% 0.00% -0.11% 0.13% 0.08% -0.10%
Income before income taxes 18.36% 17.92% 19.70% 15.98% 16.28% 11.60%
Income tax expense -4.11 -3.58 -4.67 -3.03 -3.20 -5.59
Net income 14.25% 14.35% 15.03% 12.95% 13.08% 6.01%

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).

Gross Profit Margin
The gross profit margin showed an increasing trend from 48.95% in 2018 to a peak of 53.98% in 2021, indicating improved efficiency or pricing power during this period. However, it declined thereafter to 51.03% in 2022 and 50.32% in 2023, suggesting some pressure on cost of sales or pricing.
Cost of Sales
The cost of sales as a percentage of net sales decreased from -51.05% in 2018 to -46.02% in 2021, reflecting positive cost management or favorable input costs. From 2021 onwards, it increased again to -48.97% in 2022 and -49.68% in 2023, partially reversing earlier improvements.
Selling, General, and Administrative Expenses (SG&A)
SG&A expenses steadily declined relative to net sales over the period, from -37.25% in 2018 to -32.33% in 2023. This reflects enhanced operational efficiencies or tighter expense control contributing favorably to the operating margin.
Income from Operations
Operating income as a percentage of net sales showed consistent improvement from 11.69% in 2018 to 19.81% in 2021. Although it slightly decreased to 17.93% in 2022, it rebounded slightly to 18% in 2023, suggesting continued strong operational performance overall.
Interest Income and Expense
Interest income remained relatively low and fluctuated, peaking at 0.43% in 2023. Interest expense was stable at around -0.24% up to 2021, then declined markedly to about -0.07% and -0.09% in 2022 and 2023, indicating reduced financing costs or lower debt levels.
Other Income (Expense), Net
Other income and expenses showed minor fluctuations around zero, with a small increase to 0.37% in 2023 from negative or near zero figures in prior years, perhaps reflecting unusual or non-recurring gains in the latest year.
Income Before Income Taxes
The percentage of income before income taxes increased from 11.6% in 2018 to a peak of 19.7% in 2021, then declined marginally to about 17.92% in 2022 before rising to 18.36% in 2023, broadly mirroring trends in operating income.
Income Tax Expense
Income tax expense as a percentage of net sales showed a downward trend from -5.59% in 2018 to about -3.03% in 2020, rose to -4.67% in 2021, then decreased again to around -3.58% in 2022 before rising slightly to -4.11% in 2023. This pattern suggests variability in tax rates or tax planning outcomes.
Net Income
Net income margin improved significantly from 6.01% in 2018 to 15.03% in 2021, reflecting strong overall profitability growth. It then saw a slight decline to 14.35% in 2022 and a small decrease to 14.25% in 2023, indicating sustained solid profitability despite some margin pressure.