Deckers Outdoor Corp. (NYSE:DECK)

Total Asset Turnover

The reported total asset turnover experienced a declining trend from 1.51 in 2018 to a low of 1.17 in 2021, followed by a recovery to 1.42 in 2023. The adjusted total asset turnover exhibited a more stable pattern, decreasing modestly from 1.26 in 2018 to 1.19 in 2021, then rising sharply to 1.45 in 2023. This suggests a recent improvement in efficiency in utilizing assets to generate sales.

Current Ratio

Both reported and adjusted current ratios followed a downward trajectory from 2018 to 2022, with the reported ratio falling from 4.81 to 3.23 and the adjusted from 4.83 to 3.25. In 2023, both ratios increased noticeably to approximately 3.84 and 3.86 respectively, indicating an improvement in short-term liquidity after several years of decline.

Debt to Equity and Debt to Capital Ratios

The reported debt to equity and debt to capital ratios were consistently very low, around 0.03 in the years available, without data after 2020. The adjusted ratios demonstrate a decreasing pattern, with debt to equity declining from 0.34 in 2018 to 0.14 in 2023, and debt to capital mirroring this decline from 0.25 to 0.13 over the same period. This indicates a strengthening equity position and reduced reliance on debt financing in recent years.

Financial Leverage

Reported financial leverage increased from 1.34 in 2018 to 1.55 in 2020, then stabilized near 1.5 before decreasing slightly to 1.45 in 2023. Adjusted financial leverage showed a continuous decline from 1.66 in 2018 to 1.45 in 2023. This trend points to a gradual reduction in the use of borrowed funds relative to equity, improving financial stability.

Net Profit Margin

The reported net profit margin more than doubled from 6.01% in 2018 to around 15% in 2021, before slightly declining but remaining above 14% in subsequent years. The adjusted net profit margin closely follows this pattern, peaking at 15.16% in 2021, then dipping to around 13.5% by 2023. This reflects a significant improvement in profitability in the earlier part of the period with some stabilization thereafter.

Return on Equity (ROE)

Reported ROE demonstrated a strong upward trend, rising from 12.16% in 2018 to nearly 30% in 2022 and 2023. Adjusted ROE follows a similar pattern with values slightly higher, peaking at 28.66% in 2023. These figures suggest enhanced efficiency in generating shareholder returns through equity over the period.

Return on Assets (ROA)

Reported ROA increased steadily from 9.05% in 2018 to over 20% in 2023, while adjusted ROA showed a consistent upward trend as well, moving from 8.87% to 19.73%. This sustained improvement indicates better utilization of assets to generate net income across the measured years.

Net Sales

Net sales demonstrated a consistent upward trend over the six-year period, increasing from approximately $1.9 billion in 2018 to nearly $3.63 billion in 2023. This reflects robust revenue growth, with notable acceleration between 2020 and 2023.

Total Assets

Total assets also expanded steadily from about $1.26 billion in 2018 to $2.56 billion in 2023. The asset base grew substantially, especially between 2019 and 2021, indicating increased investment or asset accumulation during this period.

Reported Total Asset Turnover

The reported total asset turnover exhibited a declining trend from 1.51 in 2018 to 1.17 in 2021, suggesting a decrease in how efficiently the company used its assets to generate sales. However, after 2021, this ratio improved to 1.35 in 2022 and further to 1.42 in 2023, indicating a recovery in asset utilization efficiency.

Adjusted Net Sales

Adjusted net sales closely mirrored the trend of reported net sales, increasing steadily from $1.9 billion in 2018 to approximately $3.62 billion in 2023. The adjusted figures suggest consistent revenue growth after accounting for relevant adjustments.

Adjusted Total Assets

Adjusted total assets rose from about $1.51 billion in 2018 to approximately $2.49 billion in 2023. Compared to reported total assets, these adjusted figures show a similar growth trajectory but at a generally higher baseline, reflecting possible revaluation or reclassification adjustments.

Adjusted Total Asset Turnover

Adjusted total asset turnover remained relatively stable between 2018 and 2021, with a slight decline from 1.26 to 1.19. Post-2021, this ratio improved significantly, reaching 1.39 in 2022 and 1.45 in 2023. This indicates an enhanced ability to generate sales from assets when considering adjusted figures, aligning with the trend seen in reported asset turnover.

The financial data displays a general upward trend in both current assets and current liabilities over the six-year period, from 2018 to 2023. Current assets increased steadily from approximately $910.7 million in 2018 to about $1.91 billion in 2023, showing consistent growth in the company's short-term resources. Correspondingly, current liabilities rose from around $189.2 million to $497.4 million during the same timeframe, indicating an expansion in short-term obligations.

Despite the increase in liabilities, the reported current ratio, which measures liquidity by comparing current assets to current liabilities, exhibits a declining trend from 4.81 in 2018 down to 3.23 in 2022, before rising somewhat to 3.84 in 2023. This suggests that the company's liquidity position weakened over the first five years but showed signs of improvement in the final year reported. A high current ratio typically indicates strong short-term financial health, so the observed decrease, followed by recovery, implies careful management of operational liquidity.

The adjusted metrics, which presumably account for certain factors not captured in the raw current assets and liabilities, mirror the same pattern. Adjusted current assets climbed from approximately $914.2 million to about $1.92 billion, while the adjusted current ratio declined from 4.83 in 2018 to 3.25 in 2022 before rebounding to 3.86 in 2023. This alignment with the reported ratios reinforces the view of gradual liquidity contraction followed by partial restoration.

Key observations:

- Current assets demonstrate consistent growth, nearly doubling over the six years.

- Current liabilities also increased, more than doubling, which exerts downward pressure on liquidity ratios.

- Liquidity ratios declined steadily from 2018 to 2022, indicative of increasing short-term financial risk.

- The improvement in liquidity ratios in 2023 suggests effective measures to bolster short-term financial stability.

Overall, the data reflects a company expanding its asset base and liabilities concurrently, with temporary stresses on liquidity that appear to have been ameliorated by the end of the period. Continued monitoring of the current ratio will be essential to ensure sustained short-term financial health.

The financial data exhibits notable trends in both debt levels and equity over the six-year period under review. The company's reported total debt remained relatively stable from March 2018 through March 2020, with values around the 31,000 thousand US$ mark, but no reported data is available for subsequent years.

In contrast, stockholders’ equity shows a consistent upward trajectory throughout the entire period. Beginning at approximately 940,779 thousand US$ in 2018, equity increased steadily each year, reaching 1,765,733 thousand US$ by March 2023. This significant increase suggests a strengthening equity base over time.

Regarding the debt to equity ratios, the reported debt to equity remained at a low and steady level of 0.03 from 2018 to 2020, with no data reported afterward. However, the adjusted total debt, which likely reflects a more comprehensive accounting of liabilities, shows more variation. Adjusted debt decreased from 308,568 thousand US$ in 2018 to a low of 222,070 thousand US$ in 2022 before rising again to 246,488 thousand US$ in 2023.

Adjusted stockholders’ equity mirrors the trend seen in reported equity, increasing consistently from 905,885 thousand US$ in 2018 to 1,717,165 thousand US$ in 2023. This steady rise contributes to a continuous decline in the adjusted debt to equity ratio, which dropped from 0.34 in 2018 to 0.14 in 2023. The decreasing ratio indicates an improving capital structure with progressively less reliance on debt financing relative to equity.

Overall, the data reflects a strong growth in equity paired with controlled and relatively modest levels of debt, especially when considering the adjusted figures. The decline in the adjusted debt to equity ratio over the years suggests an enhanced financial stability and potentially improved creditworthiness.

The financial data presents trends in the debt and capital structure over multiple years, revealing several key patterns.

Total Debt and Total Capital

The reported total debt shows a slight decline from 32,082 thousand USD in 2018 to 30,901 thousand USD in 2020, with no data available for subsequent years. During the same period, total capital consistently increased from 972,861 thousand USD in 2018 to 1,765,733 thousand USD in 2023. This indicates a steady growth in capital resources despite flat or decreasing reported debt levels.

Reported Debt to Capital Ratio

The reported debt to capital ratio remained constant at 0.03 from 2018 through 2020, indicating very low reported leverage relative to capital. This metric lacks values after 2020, limiting the ability to analyze trends beyond that point based on reported figures alone.

Adjusted Total Debt and Capital

The adjusted total debt shows higher and more variable values compared to reported debt, decreasing from 308,568 thousand USD in 2018 to 223,042 thousand USD in 2021, followed by a slight increase to 246,488 thousand USD in 2023. Adjusted total capital increased steadily from 1,214,453 thousand USD in 2018 to 1,963,653 thousand USD in 2023, consistent with the increase in reported total capital, but on a higher scale. This suggests a broader measure of debt and capital positions.

Adjusted Debt to Capital Ratio

The adjusted debt to capital ratio decreased notably from 0.25 in 2018 to 0.13 in 2023. This decline reflects improved capital structure with relatively lower leverage over time. The ratio fell steadily each year, with the most pronounced drop occurring between 2020 and 2021, aligning with the fall in adjusted debt and rise in adjusted capital.

Overall, the data indicates that while reported debt remained minimal and relatively stable through 2020, the adjusted debt figures provide a more nuanced view, showing a decrease and subsequent slight rise but remaining at a lower level relative to growing capital. The consistent increase in total and adjusted capital underlines ongoing capital expansion, accompanied by gradually diminishing leverage as shown by the adjusted debt to capital ratio. These trends suggest a strengthening financial position with conservative debt usage relative to capital growth.

The financial data presents a clear picture of the company's asset base and equity growth over the six-year period ending March 31, 2023. Total assets have shown consistent growth every year, increasing from approximately $1.26 billion in 2018 to about $2.56 billion in 2023, reflecting an expanding asset base.

Similarly, stockholders’ equity has risen steadily, climbing from roughly $941 million in 2018 to nearly $1.77 billion in 2023. This upward trend in equity indicates retained earnings growth and possibly successful capital management, strengthening the company’s financial position.

When examining the reported financial leverage, measured as the ratio of total assets to stockholders’ equity, the values increased from 1.34 in 2018 to a peak of 1.55 in 2020. This suggests that the company increased its use of debt relative to equity during this period. Following 2020, the leverage ratio declined gradually to 1.45 by 2023, indicating a reduction in financial leverage and potentially a strategic move towards a more conservative capital structure.

The adjusted figures track a similar pattern to the reported numbers but begin at higher asset and equity values due to accounting or valuation adjustments. Adjusted total assets increased from about $1.51 billion in 2018 to approximately $2.49 billion in 2023, reinforcing the growth narrative. Adjusted stockholders’ equity also rose from around $906 million to $1.72 billion over the same timeframe.

Regarding adjusted financial leverage, the ratio started higher at 1.66 in 2018, then showed a steady downward trend to 1.45 by 2023. This consistent decrease signifies improved equity backing relative to the asset base, hinting at a stronger financial structure when considering adjustments.

Overall, the company demonstrates solid growth in assets and equity, accompanied by a gradual reduction in financial leverage in recent years. This pattern implies a stronger balance sheet and potentially a lower risk profile, which can be favorable for stakeholders. The adjustments made do not materially alter these conclusions but suggest a somewhat higher leverage earlier in the period that has been managed down over time.

Net Income

The net income of the company exhibited a consistent upward trend over the analyzed period. Starting at 114,394 thousand US dollars in 2018, it increased substantially to 264,308 thousand in 2019, showing more than a twofold growth. Subsequent years maintained this positive trajectory, culminating in a net income of 516,822 thousand US dollars by 2023. This growth indicates enhanced profitability and operational efficiency over time.

Net Sales

Net sales consistently increased each year, reflecting expanding revenue streams and possibly market share. Beginning with 1,903,339 thousand US dollars in 2018, net sales rose steadily to reach 3,627,286 thousand US dollars in 2023. The growth accelerated particularly after 2020, suggesting successful business strategies or increased demand during this period.

Reported Net Profit Margin

The reported net profit margin showed significant improvement from 6.01% in 2018 to a peak of 15.03% in 2021, indicating enhanced profitability relative to sales. However, there was a slight decline in the following years to 14.35% in 2022 and 14.25% in 2023, suggesting minor pressures on profit margins despite higher sales and net income levels. Overall, margins remained substantially higher than the initial year.

Adjusted Net Income

Adjusted net income followed a similar upward trend to reported net income, rising from 133,508 thousand US dollars in 2018 to 492,199 thousand in 2023. The adjusted figures are generally higher than reported net income, suggesting that certain adjustments positively affected profitability measurements. This consistency reinforces the company's strong earnings performance.

Adjusted Net Sales

Adjusted net sales mirrored the pattern of net sales, increasing from 1,903,339 thousand US dollars in 2018 to 3,624,930 thousand in 2023. The adjustment caused slight variations in annual figures, notably a higher sales figure in 2022 compared to the reported sales, which may reflect more precise revenue recognition or accounting treatments.

Adjusted Net Profit Margin

The adjusted net profit margin exhibited stability at relatively higher levels compared to the reported margin. It rose from 7.01% in 2018 to 15.16% in 2021, then declined to 13.47% in 2022 before a modest increase to 13.58% in 2023. The fluctuations in margin correspond closely to those observed in reported margins, indicating consistent profitability trends across adjusted and reported measures.

The financial data reveals a sustained growth trend in both net income and stockholders’ equity over the examined six-year period. Net income increased substantially from $114,394 thousand in 2018 to $516,822 thousand in 2023, marking a more than fourfold rise. This growth exhibits a particularly notable acceleration starting in 2021, where income rose sharply from $276,142 thousand in 2020 to $382,575 thousand, continuing an upward trajectory through 2023.

Stockholders’ equity also showed consistent expansion, growing from $940,779 thousand in 2018 to $1,765,733 thousand in 2023. This steady increase reflects a strengthening capital base, with an apparent acceleration in growth from 2020 onwards, coinciding with the period of faster net income growth.

Return on equity, both reported and adjusted, demonstrates strong improvement, supporting the overall positive performance. Reported ROE more than doubled from 12.16% in 2018 to approximately 29.3% in 2022 and 29.27% in 2023. Likewise, adjusted ROE rose from 14.74% to 28.66% over the same span. These figures reflect enhanced profitability relative to equity, with some stabilization at near 29% levels in the last two years.

Adjusted net income and adjusted stockholders’ equity figures closely track their reported counterparts, indicating consistency between the adjusted and reported performance metrics. Adjusted net income follows a similar pattern of growth, starting at $133,508 thousand in 2018 and increasing to $492,199 thousand by 2023. Adjusted stockholders’ equity advances from $905,885 thousand to $1,717,165 thousand within the timeframe, further corroborating the positive financial trends.

Overall, the data indicates robust financial health with strong profitability growth and effective utilization of equity capital. The company demonstrates solid performance enhancements year over year, particularly pronounced from 2020 forward, accompanied by stabilizing high returns on equity in the latest periods.

Net Income

The net income has exhibited a consistent upward trend over the six-year period, increasing from $114,394 thousand in 2018 to $516,822 thousand in 2023. The most significant growth occurred between 2018 and 2019, where net income more than doubled. Subsequently, the increases continued but at a steadier pace, indicating sustained profitability expansion.

Total Assets

Total assets have risen substantially, growing from $1,264,379 thousand in 2018 to $2,556,203 thousand in 2023. This reflects a strategic accumulation of resources, nearly doubling the asset base within the period. The asset growth rate slightly decelerated after 2021 but remained positive, demonstrating continued investment and asset buildup.

Reported Return on Assets (ROA)

The reported ROA has generally improved over the years, starting at 9.05% in 2018 and reaching 20.22% by 2023. While there was a slight dip in 2020 to 15.64% from 18.52% in 2019, overall profitability relative to assets increased markedly, highlighting enhanced operational efficiency or better asset utilization over time.

Adjusted Net Income

Adjusted net income follows a similar upward trajectory as net income, increasing from $133,508 thousand in 2018 to $492,199 thousand in 2023. The adjusted figures show a notable jump in 2019 and maintain a consistent growth pattern thereafter, reflecting strong underlying earnings after adjustments.

Adjusted Total Assets

Adjusted total assets also exhibit growth but at a more moderate pace compared to reported total assets. Starting at $1,505,971 thousand in 2018, the figure reaches $2,494,187 thousand in 2023. This indicates steady asset growth when accounting for adjustments, with asset levels closely tracking reported figures.

Adjusted Return on Assets (ROA)

The adjusted ROA increased from 8.87% in 2018 to 19.73% in 2023. The trend mirrors the reported ROA, with a slight dip in 2020 followed by consistent improvements. This suggests that even after adjustments, the company has enhanced its efficiency in generating returns from its asset base over time.