Current Ratio
since 2005
Calculation
Deckers Outdoor Corp., current ratio, long-term trends, calculation
| Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
|---|---|---|---|---|---|
| Mar 31, 2023 | 3.84 | = | 1,910,253) | ÷ | 497,380) |
| Mar 31, 2022 | 3.23 | = | 1,752,128) | ÷ | 541,684) |
| Mar 31, 2021 | 3.52 | = | 1,650,799) | ÷ | 468,368) |
| Mar 31, 2020 | 3.97 | = | 1,194,111) | ÷ | 300,946) |
| Mar 31, 2019 | 4.37 | = | 1,095,405) | ÷ | 250,524) |
| Mar 31, 2018 | 4.81 | = | 910,690) | ÷ | 189,166) |
| Mar 31, 2017 | 5.16 | = | 820,821) | ÷ | 159,051) |
| Mar 31, 2016 | 3.29 | = | 785,765) | ÷ | 238,498) |
| Mar 31, 2015 | 4.10 | = | 686,593) | ÷ | 167,542) |
| Dec 31, 2014 | 5.10 | = | 623,862) | ÷ | 122,215) |
| Dec 31, 2013 | 2.59 | = | 829,304) | ÷ | 320,518) |
| Dec 31, 2012 | 2.59 | = | 691,586) | ÷ | 267,017) |
| Dec 31, 2011 | 3.52 | = | 817,902) | ÷ | 232,079) |
| Dec 31, 2010 | 4.94 | = | 715,732) | ÷ | 144,863) |
| Dec 31, 2009 | 5.16 | = | 520,987) | ÷ | 100,870) |
| Dec 31, 2008 | 4.34 | = | 412,964) | ÷ | 95,209) |
| Dec 31, 2007 | 4.22 | = | 301,567) | ÷ | 71,394) |
| Dec 31, 2006 | 4.74 | = | 187,423) | ÷ | 39,563) |
| Dec 31, 2005 | 4.86 | = | 134,854) | ÷ | 27,734) |
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), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The liquidity profile of the organization demonstrates a consistently strong position over the period from 2005 to 2023, characterized by a current ratio that remained substantially above 2.0 at all times. While both current assets and current liabilities increased in absolute terms, the relationship between them evolved through distinct phases of volatility and stabilization.
- Asset and Liability Growth
- Current assets experienced an aggressive long-term expansion, rising from 134.8 million USD in 2005 to 1.91 billion USD by March 31, 2023. Current liabilities also trended upward from 27.7 million USD to 497.4 million USD over the same period, though the growth in assets consistently outpaced the growth in obligations, ensuring a high margin of safety for short-term solvency.
- Liquidity Volatility (2011–2014)
- A period of significant fluctuation in the current ratio occurred between 2011 and 2014. After maintaining ratios near or above 4.0 for several years, the current ratio declined to its period low of 2.59 in 2012 and 2013. This was followed by a sharp recovery to 5.10 in 2014, driven primarily by a substantial reduction in current liabilities, which dropped from 320.5 million USD in 2013 to 122.2 million USD in 2014.
- Recent Liquidity Trends (2015–2023)
- From 2015 through 2022, a gradual downward trend in the current ratio is observed, moving from 4.10 to 3.23. This compression suggests a more efficient utilization of current assets or a proportional increase in short-term obligations. However, a reversal occurred in 2023, with the ratio increasing to 3.84, reflecting a decrease in current liabilities to 497.4 million USD alongside continued growth in current assets.
Overall, the financial data indicates an exceptionally conservative liquidity strategy. Even at its lowest point, the current ratio remained well above the generally accepted industry benchmark of 1.0 to 2.0, signifying a robust ability to cover short-term liabilities with liquid assets.
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Comparison to Competitors
Deckers Outdoor Corp., current ratio, long-term trends, comparison to competitors
| Deckers Outdoor Corp. | lululemon athletica inc. | Nike Inc. | |
|---|---|---|---|
| Mar 31, 2023 | 3.84 | 2.12 | 2.72 |
| Mar 31, 2022 | 3.23 | 1.86 | 2.63 |
| Mar 31, 2021 | 3.52 | 2.41 | 2.72 |
| Mar 31, 2020 | 3.97 | 2.91 | 2.48 |
| Mar 31, 2019 | 4.37 | 2.86 | 2.10 |
| Mar 31, 2018 | 4.81 | 4.91 | 2.51 |
| Mar 31, 2017 | 5.16 | 4.82 | 2.93 |
| Mar 31, 2016 | 3.29 | 4.07 | 2.80 |
| Mar 31, 2015 | 4.10 | 5.95 | 2.52 |
| Dec 31, 2014 | 5.10 | 8.31 | 2.72 |
| Dec 31, 2013 | 2.59 | 5.90 | 3.47 |
| Dec 31, 2012 | 2.59 | 5.10 | 2.98 |
| Dec 31, 2011 | 3.52 | 4.56 | 2.85 |
| Dec 31, 2010 | 4.94 | 3.69 | 3.26 |
| Dec 31, 2009 | 5.16 | 2.58 | 2.97 |
| Dec 31, 2008 | 4.34 | 2.73 | 2.66 |
| Dec 31, 2007 | 4.22 | — | 3.13 |
| Dec 31, 2006 | 4.74 | — | 2.81 |
| Dec 31, 2005 | 4.86 | — | 3.18 |
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), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Consumer Durables & Apparel)
Deckers Outdoor Corp., current ratio, long-term trends, comparison to sector (consumer durables & apparel)
| Deckers Outdoor Corp. | Consumer Durables & Apparel | |
|---|---|---|
| Mar 31, 2023 | 3.84 | 2.64 |
| Mar 31, 2022 | 3.23 | 2.54 |
| Mar 31, 2021 | 3.52 | 2.69 |
| Mar 31, 2020 | 3.97 | 2.51 |
| Mar 31, 2019 | 4.37 | 2.15 |
| Mar 31, 2018 | 4.81 | 2.62 |
| Mar 31, 2017 | 5.16 | 3.01 |
| Mar 31, 2016 | 3.29 | 2.86 |
| Mar 31, 2015 | 4.10 | 2.61 |
| Dec 31, 2014 | 5.10 | 2.85 |
| Dec 31, 2013 | 2.59 | 3.55 |
| Dec 31, 2012 | 2.59 | 3.04 |
| Dec 31, 2011 | 3.52 | 2.89 |
| Dec 31, 2010 | 4.94 | 3.26 |
| Dec 31, 2009 | 5.16 | 2.97 |
| Dec 31, 2008 | 4.34 | 2.66 |
| Dec 31, 2007 | 4.22 | 3.13 |
| Dec 31, 2006 | 4.74 | 2.81 |
| Dec 31, 2005 | 4.86 | 3.18 |
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), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Discretionary)
Deckers Outdoor Corp., current ratio, long-term trends, comparison to industry (consumer discretionary)
| Deckers Outdoor Corp. | Consumer Discretionary | |
|---|---|---|
| Mar 31, 2023 | 3.84 | 1.20 |
| Mar 31, 2022 | 3.23 | 1.15 |
| Mar 31, 2021 | 3.52 | 1.25 |
| Mar 31, 2020 | 3.97 | 1.19 |
| Mar 31, 2019 | 4.37 | 1.10 |
| Mar 31, 2018 | 4.81 | 1.15 |
| Mar 31, 2017 | 5.16 | 1.15 |
| Mar 31, 2016 | 3.29 | 1.12 |
| Mar 31, 2015 | 4.10 | 1.25 |
| Dec 31, 2014 | 5.10 | 1.11 |
| Dec 31, 2013 | 2.59 | 1.15 |
| Dec 31, 2012 | 2.59 | 1.14 |
| Dec 31, 2011 | 3.52 | 1.31 |
| Dec 31, 2010 | 4.94 | 1.24 |
| Dec 31, 2009 | 5.16 | 1.25 |
| Dec 31, 2008 | 4.34 | 0.96 |
| Dec 31, 2007 | 4.22 | 1.21 |
| Dec 31, 2006 | 4.74 | 1.15 |
| Dec 31, 2005 | 4.86 | 1.10 |
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), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).