Name: Deckers Outdoor Corp. (NYSE:DECK) | Income Statement
Creator: Stock Analysis on Net

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

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Deckers Outdoor Corp., consolidated income statement

US$ in thousands

12 months ended:	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020	Mar 31, 2019	Mar 31, 2018
Net sales	3,627,286)	3,150,339)	2,545,641)	2,132,689)	2,020,437)	1,903,339)
Cost of sales	(1,801,916)	(1,542,788)	(1,171,551)	(1,029,016)	(980,187)	(971,697)
Gross profit	1,825,370)	1,607,551)	1,374,090)	1,103,673)	1,040,250)	931,642)
Selling, general, and administrative expenses	(1,172,619)	(1,042,844)	(869,885)	(765,538)	(712,930)	(709,058)
Income from operations	652,751)	564,707)	504,205)	338,135)	327,320)	222,584)
Interest income	15,563)	1,901)	2,637)	7,261)	6,028)	3,057)
Interest expense	(3,442)	(2,083)	(6,028)	(5,046)	(4,661)	(4,585)
Other income (expense), net	1,210)	113)	700)	516)	247)	(360)
Other income (expense), net	13,331)	(69)	(2,691)	2,731)	1,614)	(1,888)
Income before income taxes	666,082)	564,638)	501,514)	340,866)	328,934)	220,696)
Income tax expense	(149,260)	(112,689)	(118,939)	(64,724)	(64,626)	(106,302)
Net income	516,822)	451,949)	382,575)	276,142)	264,308)	114,394)

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).

A consistent upward trajectory in both top-line revenue and bottom-line net income is observed over the six-year period ending March 31, 2023. Net sales increased from 1.9 billion USD in 2018 to 3.6 billion USD in 2023, reflecting a strong and sustained expansion in sales volume.

Revenue and Gross Profitability: Net sales demonstrated continuous growth, with a notable acceleration in the pace of increase between 2021 and 2023. Gross profit followed a similar upward trend, rising from 931.6 million USD to 1.8 billion USD. The gross margin improved from 48.9% in 2018 to a peak of 54.0% in 2021, before settling at 50.3% in 2023, suggesting a period of enhanced pricing power or production efficiency followed by a stabilization phase.
Operating Efficiency and Expense Control: Income from operations grew substantially from 222.6 million USD in 2018 to 652.8 million USD in 2023. Although selling, general, and administrative expenses increased in absolute terms—rising from 709.1 million USD to 1.17 billion USD—the growth of these expenses lagged behind the growth of net sales. This result indicates positive operational leverage, as the operating margin expanded from 11.7% in 2018 to 18.0% in 2023.
Net Earnings and Bottom-Line Performance: Net income showed a significant increase, growing from 114.4 million USD in 2018 to 516.8 million USD in 2023. This growth pushed the net profit margin from 6.0% to 14.2% over the analyzed period. The bottom line was further supported by a stable interest expense profile and a significant increase in interest income in the final year, which reached 15.6 million USD in 2023.

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