Price to Sales (P/S)
since 2005
Calculation
Deckers Outdoor Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Net sales1 (in thousands) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| May 26, 2023 | 3.35 | = | 465.18 | ÷ | 138.66 | 138.66 | = | 3,627,286 | ÷ | 26,159,846 | |
| May 27, 2022 | 2.31 | = | 271.85 | ÷ | 117.59 | 117.59 | = | 3,150,339 | ÷ | 26,789,861 | |
| May 28, 2021 | 3.66 | = | 335.44 | ÷ | 91.53 | 91.53 | = | 2,545,641 | ÷ | 27,813,023 | |
| Jun 1, 2020 | 2.57 | = | 195.82 | ÷ | 76.17 | 76.17 | = | 2,132,689 | ÷ | 27,999,468 | |
| May 30, 2019 | 2.19 | = | 151.73 | ÷ | 69.33 | 69.33 | = | 2,020,437 | ÷ | 29,142,002 | |
| May 30, 2018 | 1.76 | = | 110.00 | ÷ | 62.51 | 62.51 | = | 1,903,339 | ÷ | 30,447,808 | |
| May 30, 2017 | 1.21 | = | 67.91 | ÷ | 55.96 | 55.96 | = | 1,790,147 | ÷ | 31,990,065 | |
| May 31, 2016 | 0.90 | = | 52.59 | ÷ | 58.56 | 58.56 | = | 1,875,197 | ÷ | 32,023,300 | |
| Jun 1, 2015 | 1.25 | = | 68.35 | ÷ | 54.57 | 54.57 | = | 1,817,057 | ÷ | 33,296,968 | |
| Jun 1, 2015 | 7.72 | = | 68.35 | ÷ | 8.85 | 8.85 | = | 294,716 | ÷ | 33,296,968 | |
| Mar 3, 2014 | 1.62 | = | 72.87 | ÷ | 44.96 | 44.96 | = | 1,556,618 | ÷ | 34,620,587 | |
| Mar 1, 2013 | 1.13 | = | 46.62 | ÷ | 41.11 | 41.11 | = | 1,414,398 | ÷ | 34,402,209 | |
| Feb 29, 2012 | 2.10 | = | 74.76 | ÷ | 35.59 | 35.59 | = | 1,377,283 | ÷ | 38,693,544 | |
| Mar 1, 2011 | 3.22 | = | 83.66 | ÷ | 25.94 | 25.94 | = | 1,000,989 | ÷ | 38,581,395 | |
| Mar 1, 2010 | 1.94 | = | 40.93 | ÷ | 21.05 | 21.05 | = | 813,177 | ÷ | 38,625,441 | |
| Mar 2, 2009 | 0.72 | = | 12.57 | ÷ | 17.56 | 17.56 | = | 689,445 | ÷ | 39,268,914 | |
| Feb 29, 2008 | 3.21 | = | 36.88 | ÷ | 11.51 | 11.51 | = | 448,929 | ÷ | 39,019,074 | |
| Mar 16, 2007 | 2.89 | = | 23.30 | ÷ | 8.06 | 8.06 | = | 304,423 | ÷ | 37,778,064 | |
| Mar 9, 2006 | 1.66 | = | 11.78 | ÷ | 7.08 | 7.08 | = | 264,760 | ÷ | 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 revenue generation per share, although the price-to-sales (P/S) ratio has exhibited significant cyclical volatility.
- Price to Sales Ratio Trends
- The P/S ratio experienced a period of instability between 2006 and 2014, reaching a peak of 3.21 in 2008 before dropping sharply to a low of 0.72 in 2009. Following this contraction, the ratio fluctuated between 0.90 and 3.22 for several years. A more consistent upward trajectory began in 2016, with the ratio climbing from 0.90 to 3.35 by 2023, suggesting an expansion in the market's valuation of each dollar of revenue.
- Revenue per Share Growth
- Sales per share demonstrate a consistent long-term growth pattern, increasing from 7.08 US$ in 2006 to 138.66 US$ in 2023. This represents a steady expansion of the underlying business operations and revenue capacity over the nearly two-decade period, providing a fundamental basis for the increase in share price.
- Share Price Appreciation
- The share price exhibits an overall aggressive upward trend, rising from 11.78 US$ in 2006 to 465.18 US$ in 2023. While growth was volatile in the first decade, a period of accelerated appreciation is evident from 2018 onwards, where the price rose from 110.00 US$ to 465.18 US$.
- Valuation Correlation
- The relationship between share price and sales per share indicates that while revenue growth has been steady, the share price has frequently grown at a faster or slower pace, leading to the observed fluctuations in the P/S ratio. The rise in the P/S ratio toward the end of the period suggests that investors are attributing a higher premium to the company's revenue than they did during the 2013-2017 period.
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Comparison to Competitors
Deckers Outdoor Corp., P/S, long-term trends, comparison to competitors
| Deckers Outdoor Corp. | lululemon athletica inc. | Nike Inc. | |
|---|---|---|---|
| May 26, 2023 | 3.35 | 5.02 | 3.21 |
| May 27, 2022 | 2.31 | 7.03 | 3.75 |
| May 28, 2021 | 3.66 | 9.39 | 5.67 |
| Jun 1, 2020 | 2.57 | 6.57 | 4.11 |
| May 30, 2019 | 2.19 | 5.85 | 3.47 |
| May 30, 2018 | 1.76 | 4.02 | 3.39 |
| May 30, 2017 | 1.21 | 3.88 | 2.83 |
| May 31, 2016 | 0.90 | 4.52 | 2.95 |
| Jun 1, 2015 | 1.25 | 5.05 | 3.19 |
| Jun 1, 2015 | 7.72 | 4.68 | 2.43 |
| Mar 3, 2014 | 1.62 | 6.82 | 2.22 |
| Mar 1, 2013 | 1.13 | 10.89 | 1.76 |
| Feb 29, 2012 | 2.10 | 7.65 | 2.09 |
| Mar 1, 2011 | 3.22 | 6.13 | 1.77 |
| Mar 1, 2010 | 1.94 | 1.66 | 1.33 |
| Mar 2, 2009 | 0.72 | 8.16 | 1.51 |
| Feb 29, 2008 | 3.21 | — | 1.71 |
| Mar 16, 2007 | 2.89 | — | 1.36 |
| Mar 9, 2006 | 1.66 | — | 1.60 |
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., P/S, long-term trends, comparison to sector (consumer durables & apparel)
| Deckers Outdoor Corp. | Consumer Durables & Apparel | |
|---|---|---|
| May 26, 2023 | 3.35 | 3.46 |
| May 27, 2022 | 2.31 | 4.14 |
| May 28, 2021 | 3.66 | 6.01 |
| Jun 1, 2020 | 2.57 | 4.34 |
| May 30, 2019 | 2.19 | 3.66 |
| May 30, 2018 | 1.76 | 3.44 |
| May 30, 2017 | 1.21 | 2.89 |
| May 31, 2016 | 0.90 | 3.05 |
| Jun 1, 2015 | 1.25 | 3.29 |
| Jun 1, 2015 | 7.72 | 2.55 |
| Mar 3, 2014 | 1.62 | 2.46 |
| Mar 1, 2013 | 1.13 | 2.12 |
| Feb 29, 2012 | 2.10 | 2.27 |
| Mar 1, 2011 | 3.22 | 1.88 |
| Mar 1, 2010 | 1.94 | 1.33 |
| Mar 2, 2009 | 0.72 | 1.60 |
| Feb 29, 2008 | 3.21 | 1.71 |
| Mar 16, 2007 | 2.89 | 1.36 |
| Mar 9, 2006 | 1.66 | 1.60 |
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., P/S, long-term trends, comparison to industry (consumer discretionary)
| Deckers Outdoor Corp. | Consumer Discretionary | |
|---|---|---|
| May 26, 2023 | 3.35 | 2.63 |
| May 27, 2022 | 2.31 | 2.27 |
| May 28, 2021 | 3.66 | 3.58 |
| Jun 1, 2020 | 2.57 | 3.81 |
| May 30, 2019 | 2.19 | 2.33 |
| May 30, 2018 | 1.76 | 2.05 |
| May 30, 2017 | 1.21 | 2.06 |
| May 31, 2016 | 0.90 | 1.68 |
| Jun 1, 2015 | 1.25 | 1.57 |
| Jun 1, 2015 | 7.72 | 1.32 |
| Mar 3, 2014 | 1.62 | 1.33 |
| Mar 1, 2013 | 1.13 | 1.06 |
| Feb 29, 2012 | 2.10 | 0.97 |
| Mar 1, 2011 | 3.22 | 0.96 |
| Mar 1, 2010 | 1.94 | 0.92 |
| Mar 2, 2009 | 0.72 | 0.66 |
| Feb 29, 2008 | 3.21 | 0.79 |
| Mar 16, 2007 | 2.89 | 0.86 |
| Mar 9, 2006 | 1.66 | 0.79 |
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).