Return on Equity (ROE)
since 2005
Calculation
Deckers Outdoor Corp., ROE, long-term trends, calculation
| ROE | = | 100 | × | Net income (loss)1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|---|---|
| Mar 31, 2023 | 29.27% | = | 100 | × | 516,822) | ÷ | 1,765,733) |
| Mar 31, 2022 | 29.37% | = | 100 | × | 451,949) | ÷ | 1,538,825) |
| Mar 31, 2021 | 26.49% | = | 100 | × | 382,575) | ÷ | 1,444,225) |
| Mar 31, 2020 | 24.22% | = | 100 | × | 276,142) | ÷ | 1,140,120) |
| Mar 31, 2019 | 25.29% | = | 100 | × | 264,308) | ÷ | 1,045,130) |
| Mar 31, 2018 | 12.16% | = | 100 | × | 114,394) | ÷ | 940,779) |
| Mar 31, 2017 | 0.60% | = | 100 | × | 5,710) | ÷ | 954,255) |
| Mar 31, 2016 | 12.64% | = | 100 | × | 122,265) | ÷ | 967,471) |
| Mar 31, 2015 | 17.27% | = | 100 | × | 161,780) | ÷ | 937,012) |
| Dec 31, 2014 | -0.30% | = | 100 | × | (2,685) | ÷ | 888,849) |
| Dec 31, 2013 | 16.40% | = | 100 | × | 145,689) | ÷ | 888,119) |
| Dec 31, 2012 | 17.46% | = | 100 | × | 129,014) | ÷ | 738,801) |
| Dec 31, 2011 | 23.81% | = | 100 | × | 199,052) | ÷ | 835,936) |
| Dec 31, 2010 | 24.23% | = | 100 | × | 158,235) | ÷ | 652,987) |
| Dec 31, 2009 | 23.77% | = | 100 | × | 116,786) | ÷ | 491,358) |
| Dec 31, 2008 | 19.24% | = | 100 | × | 73,948) | ÷ | 384,252) |
| Dec 31, 2007 | 22.25% | = | 100 | × | 66,437) | ÷ | 298,638) |
| Dec 31, 2006 | 14.55% | = | 100 | × | 30,609) | ÷ | 210,410) |
| Dec 31, 2005 | 17.94% | = | 100 | × | 31,845) | ÷ | 177,555) |
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 analysis of return on equity (ROE) from 2005 to 2023 reveals three distinct phases of financial performance: a period of stable growth, a phase of significant volatility, and a final period of accelerated efficiency.
- Initial Growth and Stability (2005–2011)
- During this interval, net income experienced a steady climb from 31.8 million to 199.1 million, while stockholders' equity expanded from 177.6 million to 835.9 million. ROE remained consistently strong, generally fluctuating between 14.5% and 24.2%, indicating a robust ability to generate profit relative to shareholder investment.
- Operational Volatility and Contraction (2012–2017)
- A period of instability is observed between 2012 and 2017. Net income exhibited sharp fluctuations, including a loss of 2.7 million in 2014 and a significant drop to 5.7 million in 2017. Consequently, ROE declined precipitously, reaching a minimum of -0.30% in 2014 and 0.60% in 2017. Despite these earnings contractions, stockholders' equity continued a general upward trend, which further diluted the ROE during the low-income years.
- Performance Acceleration and Optimization (2018–2023)
- Beginning in 2018, a strong upward trajectory in profitability emerged. Net income rose sharply from 114.4 million in 2018 to 516.8 million by 2023. This growth in earnings outpaced the increase in stockholders' equity, which grew to 1.77 billion over the same period. As a result, ROE climbed significantly, stabilizing at a peak level of approximately 29.3% between 2022 and 2023, reflecting a substantial increase in capital efficiency.
The long-term trend indicates a transition from moderate stability to high-efficiency profitability. The most recent five-year window represents the highest level of shareholder return in the analyzed timeframe, characterized by a strong correlation between rising net income and an optimized return on equity.
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Comparison to Competitors
Deckers Outdoor Corp., ROE, long-term trends, comparison to competitors
| Deckers Outdoor Corp. | lululemon athletica inc. | Nike Inc. | |
|---|---|---|---|
| Mar 31, 2023 | 29.27% | 27.15% | 36.20% |
| Mar 31, 2022 | 29.37% | 35.60% | 39.57% |
| Mar 31, 2021 | 26.49% | 23.02% | 44.86% |
| Mar 31, 2020 | 24.22% | 33.07% | 31.52% |
| Mar 31, 2019 | 25.29% | 33.46% | 44.57% |
| Mar 31, 2018 | 12.16% | 16.20% | 19.70% |
| Mar 31, 2017 | 0.60% | 22.31% | 34.17% |
| Mar 31, 2016 | 12.64% | 25.89% | 30.67% |
| Mar 31, 2015 | 17.27% | 21.94% | 25.76% |
| Dec 31, 2014 | -0.30% | 25.49% | 24.88% |
| Dec 31, 2013 | 16.40% | 30.49% | 22.28% |
| Dec 31, 2012 | 17.46% | 30.61% | 21.41% |
| Dec 31, 2011 | 23.81% | 31.21% | 21.67% |
| Dec 31, 2010 | 24.23% | 25.00% | 19.55% |
| Dec 31, 2009 | 23.77% | 25.42% | 17.10% |
| Dec 31, 2008 | 19.24% | 27.53% | 24.07% |
| Dec 31, 2007 | 22.25% | — | 21.23% |
| Dec 31, 2006 | 14.55% | — | 22.15% |
| Dec 31, 2005 | 17.94% | — | 21.47% |
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., ROE, long-term trends, comparison to sector (consumer durables & apparel)
| Deckers Outdoor Corp. | Consumer Durables & Apparel | |
|---|---|---|
| Mar 31, 2023 | 29.27% | 34.54% |
| Mar 31, 2022 | 29.37% | 38.96% |
| Mar 31, 2021 | 26.49% | 41.21% |
| Mar 31, 2020 | 24.22% | 31.82% |
| Mar 31, 2019 | 25.29% | 43.04% |
| Mar 31, 2018 | 12.16% | 19.21% |
| Mar 31, 2017 | 0.60% | 33.00% |
| Mar 31, 2016 | 12.64% | 30.30% |
| Mar 31, 2015 | 17.27% | 25.46% |
| Dec 31, 2014 | -0.30% | 24.94% |
| Dec 31, 2013 | 16.40% | 22.88% |
| Dec 31, 2012 | 17.46% | 21.92% |
| Dec 31, 2011 | 23.81% | 22.03% |
| Dec 31, 2010 | 24.23% | 19.68% |
| Dec 31, 2009 | 23.77% | 17.25% |
| Dec 31, 2008 | 19.24% | 24.12% |
| Dec 31, 2007 | 22.25% | 21.23% |
| Dec 31, 2006 | 14.55% | 22.15% |
| Dec 31, 2005 | 17.94% | 21.47% |
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., ROE, long-term trends, comparison to industry (consumer discretionary)
| Deckers Outdoor Corp. | Consumer Discretionary | |
|---|---|---|
| Mar 31, 2023 | 29.27% | 29.93% |
| Mar 31, 2022 | 29.37% | 20.78% |
| Mar 31, 2021 | 26.49% | 33.71% |
| Mar 31, 2020 | 24.22% | 24.49% |
| Mar 31, 2019 | 25.29% | 34.62% |
| Mar 31, 2018 | 12.16% | 34.33% |
| Mar 31, 2017 | 0.60% | 22.85% |
| Mar 31, 2016 | 12.64% | 28.74% |
| Mar 31, 2015 | 17.27% | 29.03% |
| Dec 31, 2014 | -0.30% | 20.60% |
| Dec 31, 2013 | 16.40% | 20.34% |
| Dec 31, 2012 | 17.46% | 21.97% |
| Dec 31, 2011 | 23.81% | 34.92% |
| Dec 31, 2010 | 24.23% | 24.34% |
| Dec 31, 2009 | 23.77% | 25.32% |
| Dec 31, 2008 | 19.24% | 1.64% |
| Dec 31, 2007 | 22.25% | 16.06% |
| Dec 31, 2006 | 14.55% | 3.84% |
| Dec 31, 2005 | 17.94% | 19.92% |
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).