Price to Operating Profit (P/OP)
since 2005
Calculation
Deckers Outdoor Corp., P/OP, long-term trends, calculation
| P/OP | = | Share price1, 2, 3 | ÷ | Operating profit per share1 | Operating profit per share1 | = | Income (loss) from operations1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| May 26, 2023 | 18.64 | = | 465.18 | ÷ | 24.95 | 24.95 | = | 652,751 | ÷ | 26,159,846 | |
| May 27, 2022 | 12.90 | = | 271.85 | ÷ | 21.08 | 21.08 | = | 564,707 | ÷ | 26,789,861 | |
| May 28, 2021 | 18.50 | = | 335.44 | ÷ | 18.13 | 18.13 | = | 504,205 | ÷ | 27,813,023 | |
| Jun 1, 2020 | 16.21 | = | 195.82 | ÷ | 12.08 | 12.08 | = | 338,135 | ÷ | 27,999,468 | |
| May 30, 2019 | 13.51 | = | 151.73 | ÷ | 11.23 | 11.23 | = | 327,320 | ÷ | 29,142,002 | |
| May 30, 2018 | 15.05 | = | 110.00 | ÷ | 7.31 | 7.31 | = | 222,584 | ÷ | 30,447,808 | |
| May 30, 2017 | — | = | 67.91 | ÷ | -0.06 | -0.06 | = | -1,919 | ÷ | 31,990,065 | |
| May 31, 2016 | 10.39 | = | 52.59 | ÷ | 5.06 | 5.06 | = | 162,127 | ÷ | 32,023,300 | |
| Jun 1, 2015 | 10.14 | = | 68.35 | ÷ | 6.74 | 6.74 | = | 224,419 | ÷ | 33,296,968 | |
| Jun 1, 2015 | — | = | 68.35 | ÷ | -0.01 | -0.01 | = | -408 | ÷ | 33,296,968 | |
| Mar 3, 2014 | 12.13 | = | 72.87 | ÷ | 6.01 | 6.01 | = | 207,897 | ÷ | 34,620,587 | |
| Mar 1, 2013 | 8.58 | = | 46.62 | ÷ | 5.43 | 5.43 | = | 186,948 | ÷ | 34,402,209 | |
| Feb 29, 2012 | 10.16 | = | 74.76 | ÷ | 7.36 | 7.36 | = | 284,838 | ÷ | 38,693,544 | |
| Mar 1, 2011 | 12.96 | = | 83.66 | ÷ | 6.46 | 6.46 | = | 249,088 | ÷ | 38,581,395 | |
| Mar 1, 2010 | 8.72 | = | 40.93 | ÷ | 4.69 | 4.69 | = | 181,247 | ÷ | 38,625,441 | |
| Mar 2, 2009 | 4.22 | = | 12.57 | ÷ | 2.98 | 2.98 | = | 116,919 | ÷ | 39,268,914 | |
| Feb 29, 2008 | 13.63 | = | 36.88 | ÷ | 2.71 | 2.71 | = | 105,553 | ÷ | 39,019,074 | |
| Mar 16, 2007 | 17.11 | = | 23.30 | ÷ | 1.36 | 1.36 | = | 51,442 | ÷ | 37,778,064 | |
| Mar 9, 2006 | 8.43 | = | 11.78 | ÷ | 1.40 | 1.40 | = | 52,268 | ÷ | 37,394,568 |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Deckers Outdoor Corp. Annual Report.
The financial trajectory from 2006 to 2023 is characterized by substantial growth in both market valuation and operational efficiency. Share prices rose from 11.78 to 465.18, while operating profit per share increased from 1.40 to 24.95 over the same period.
- Share Price Evolution
- Equity valuation exhibited a long-term upward trend with periods of accelerated growth. Significant appreciation is noted after 2018, with the price climbing from 110.00 in 2018 to a peak of 465.18 in 2023, despite a moderate correction in 2022.
- Operating Profitability
- Operating profit per share demonstrated a general increase, although the progression was interrupted by periods of instability between 2015 and 2017, where values became negative. Following this volatility, a period of rapid expansion occurred, with profit per share rising from 7.31 in 2018 to 24.95 in 2023.
- Price to Operating Profit (P/OP) Dynamics
- The P/OP ratio indicates shifting market sentiment and valuation premiums. Early volatility was observed between 2006 and 2009, reaching a low of 4.22. A period of relative stability followed from 2010 to 2014, with the ratio largely remaining between 8.58 and 12.96. From 2018 onward, the ratio trended upward, peaking at 18.64 in 2023, which suggests an increasing market premium attributed to the company's operating earnings.
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Comparison to Competitors
Deckers Outdoor Corp., P/OP, long-term trends, comparison to competitors
| Deckers Outdoor Corp. | lululemon athletica inc. | |
|---|---|---|
| May 26, 2023 | 18.64 | 30.66 |
| May 27, 2022 | 12.90 | 33.00 |
| May 28, 2021 | 18.50 | 50.41 |
| Jun 1, 2020 | 16.21 | 29.40 |
| May 30, 2019 | 13.51 | 27.23 |
| May 30, 2018 | 15.05 | 23.38 |
| May 30, 2017 | — | 21.58 |
| May 31, 2016 | 10.39 | 25.22 |
| Jun 1, 2015 | 10.14 | 24.15 |
| Jun 1, 2015 | — | 19.02 |
| Mar 3, 2014 | 12.13 | 24.82 |
| Mar 1, 2013 | 8.58 | 38.00 |
| Feb 29, 2012 | 10.16 | 30.18 |
| Mar 1, 2011 | 12.96 | 32.10 |
| Mar 1, 2010 | 8.72 | 10.39 |
| Mar 2, 2009 | 4.22 | 44.74 |
| Feb 29, 2008 | 13.63 | — |
| Mar 16, 2007 | 17.11 | — |
| Mar 9, 2006 | 8.43 | — |
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).