Income Statement
Quarterly Data
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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- Statement of Comprehensive Income
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
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Deckers Outdoor Corp., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-K (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-K (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-K (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30).
- Net Sales
- Net sales display a clear seasonal pattern with peaks typically occurring in the fourth quarter of each year, reflecting strong holiday sales periods. There is a notable downward trend during the first quarters, followed by recoveries in subsequent quarters. Over the long term, net sales exhibit significant growth, increasing from approximately $209.7 million in June 2017 to over $1.56 billion in December 2023, indicating substantial expansion.
- Cost of Sales
- Cost of sales follows a trend similar to net sales, with costs rising in tandem with sales volumes, particularly in the fourth quarters of each year. The absolute values of cost of sales increase over time, reflecting the company's expanding operations. The ratio of cost to sales appears relatively stable, but incremental evidence suggests some efficiency improvements in gross margins in recent periods.
- Gross Profit
- Gross profit mirrors the seasonal pattern of net sales and cost of sales, with the highest values typically reported in the fourth quarter. There is a consistent upward trend, increasing markedly from approximately $90.6 million in June 2017 to around $916.6 million in December 2023, reinforcing the observation of growth. This suggests improvement in scale or pricing power, contributing to increased profitability at the gross margin level.
- Selling, General, and Administrative Expenses (SG&A)
- SG&A expenses exhibit seasonality with elevated spending in the fourth quarters, possibly reflecting higher marketing and operational activities during peak sales periods. Over the period analyzed, SG&A expenses have substantially increased from roughly $146.9 million in June 2017 to $428.7 million in December 2023, consistent with company growth. However, expense growth appears to be slower than net sales and gross profit expansion, which might indicate improving operational leverage.
- Income (Loss) from Operations
- Operating income demonstrates strong seasonality with significant positive results during fourth quarters and smaller or negative income in the early quarters of several years. The trend over time is positive, with operating income increasing from a loss of approximately $56.3 million in June 2017 to a gain of about $487.9 million in December 2023. This progression indicates enhanced profitability and successful cost management relative to sales growth.
- Interest Income and Expense
- Interest income shows a general upward trend, rising from the low hundreds to over $11 million by the fourth quarter of 2023, suggesting increasing returns on investments or cash holdings. Interest expense fluctuates but remains relatively stable and modest compared to interest income, indicating effective management of debt or financing costs.
- Other Income (Expense), Net
- Other income or expense presents volatility with alternating positive and negative values. Some quarters report significant spikes, such as large positive figures in late 2022 and 2023, which may reflect gains on investments, foreign exchange effects, or other non-operating items. These fluctuations impact net income but do not follow a clear long-term trend.
- Income (Loss) Before Income Taxes
- This metric follows the pattern of operating income with seasonal highs in the fourth quarters. There is substantial growth over time from about a $56.6 million loss in June 2017 to a pre-tax profit exceeding $499 million in March 2023. This reinforces the overall positive trajectory in operational and financial performance.
- Income Tax Expense (Benefit)
- Income tax expense shows variability with both positive and negative amounts, reflective of taxable income levels and tax strategies. Large tax benefits are observed in some quarters, while other periods post significant tax expenses, consistent with fluctuations in pre-tax income. The impact on net income is material, contributing to net income volatility.
- Net Income (Loss)
- Net income exhibits marked seasonality with losses primarily in early quarters and strong gains in holiday quarters, corresponding to operational trends. There is a pronounced improvement from a net loss of around $42.1 million in June 2017 to a net income of approximately $389.9 million in December 2023. Despite fluctuations, the overall trend reflects increasing profitability aligned with sales growth and operational efficiency enhancements.