Latest Ratios: P/E Ratio 15.1x · EV/EBITDA 10.0x · ROE 40.9%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.7B | $14.6B | $17.1B | $24.5B | $12.0B | $7.6B | $9.4B | $3.8B | $4.4B | $2.9B | $1.9B |
| Enterprise Value | $13.2B | $13.1B | $15.5B | $23.3B | $11.3B | $7.0B | $8.5B | $3.5B | $3.8B | $2.5B | $1.7B |
| P/E Ratio → | 15.11 | 14.25 | 17.66 | 32.28 | 23.20 | 16.84 | 24.48 | 13.96 | 16.63 | 25.16 | 332.00 |
| P/S Ratio | 2.70 | 2.67 | 3.42 | 5.72 | 3.31 | 2.42 | 3.69 | 1.80 | 2.18 | 1.51 | 1.08 |
| P/B Ratio | 6.19 | 5.84 | 6.79 | 11.63 | 6.79 | 4.94 | 6.50 | 3.37 | 4.21 | 3.06 | 2.03 |
| P/FCF | 13.43 | 13.29 | 17.81 | 25.98 | 26.29 | 62.70 | 16.64 | 15.14 | 13.30 | 9.85 | 12.49 |
| P/OCF | 12.46 | 12.34 | 16.34 | 23.73 | 22.32 | 44.14 | 15.74 | 13.43 | 12.23 | 8.80 | 9.70 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.39 | 3.10 | 5.43 | 3.10 | 2.22 | 3.35 | 1.64 | 1.90 | 1.30 | 0.94 |
| EV / EBITDA | 9.98 | 9.87 | 12.39 | 23.65 | 16.09 | 11.50 | 15.64 | 9.26 | 10.31 | 9.16 | 33.02 |
| EV / EBIT | 10.60 | 10.49 | 12.40 | 23.72 | 16.82 | 12.33 | 16.79 | 10.09 | 11.50 | 11.02 | 5028.24 |
| EV / FCF | — | 11.90 | 16.13 | 24.67 | 24.68 | 57.58 | 15.11 | 13.75 | 11.61 | 8.49 | 10.81 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.1% | 56.1% | 57.9% | 55.6% | 50.3% | 51.0% | 54.0% | 51.8% | 51.5% | 48.9% | 46.7% |
| Operating Margin | 22.8% | 22.8% | 23.6% | 21.6% | 18.0% | 17.9% | 19.8% | 15.9% | 16.2% | 11.7% | -0.1% |
| Net Profit Margin | 18.8% | 18.8% | 19.4% | 17.7% | 14.2% | 14.3% | 15.0% | 12.9% | 13.1% | 6.0% | 0.3% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 40.9% | 40.9% | 41.8% | 39.2% | 31.3% | 30.3% | 29.6% | 25.3% | 26.6% | 12.1% | 0.6% |
| ROA | 28.0% | 28.0% | 28.5% | 26.7% | 21.1% | 20.1% | 19.5% | 17.3% | 19.6% | 9.3% | 0.5% |
| ROIC | 100.0% | 100.0% | 99.7% | 73.1% | 50.3% | 56.6% | 55.4% | 39.8% | 47.7% | 27.0% | -0.2% |
| ROCE | 43.3% | 43.3% | 44.7% | 41.5% | 33.9% | 32.4% | 31.9% | 25.6% | 29.1% | 21.1% | -0.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.15 | 0.15 | 0.11 | 0.13 | 0.14 | 0.14 | 0.15 | 0.26 | 0.03 | 0.03 | 0.03 |
| Debt / EBITDA | 0.28 | 0.28 | 0.22 | 0.27 | 0.35 | 0.37 | 0.41 | 0.78 | 0.08 | 0.12 | 0.64 |
| Net Debt / Equity | — | -0.61 | -0.64 | -0.59 | -0.42 | -0.40 | -0.60 | -0.31 | -0.53 | -0.42 | -0.27 |
| Net Debt / EBITDA | -1.16 | -1.16 | -1.29 | -1.25 | -1.05 | -1.02 | -1.59 | -0.94 | -1.50 | -1.47 | -5.11 |
| Debt / FCF | — | -1.40 | -1.68 | -1.31 | -1.61 | -5.12 | -1.54 | -1.39 | -1.69 | -1.36 | -1.67 |
| Interest Coverage | 492.12 | 492.12 | 354.51 | 382.80 | 194.52 | 272.07 | 84.20 | 68.55 | 71.57 | 49.13 | 0.05 |
Net cash position: cash ($1.9B) exceeds total debt ($375M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.54 | 3.54 | 3.72 | 3.39 | 3.84 | 3.23 | 3.52 | 3.97 | 4.37 | 4.81 | 5.16 |
| Quick Ratio | 2.94 | 2.94 | 3.07 | 2.73 | 2.77 | 2.30 | 2.93 | 2.93 | 3.26 | 3.23 | 3.28 |
| Cash Ratio | 2.37 | 2.37 | 2.45 | 2.09 | 1.97 | 1.56 | 2.33 | 2.16 | 2.35 | 2.27 | 1.83 |
| Asset Turnover | — | 1.48 | 1.37 | 1.37 | 1.42 | 1.35 | 1.17 | 1.21 | 1.42 | 1.51 | 1.50 |
| Inventory Turnover | 4.91 | 4.91 | 4.24 | 4.01 | 3.38 | 3.04 | 4.21 | 3.30 | 3.52 | 3.24 | 3.20 |
| Days Sales Outstanding | — | 21.47 | 28.60 | 30.13 | 32.40 | 38.51 | 33.37 | 34.81 | 32.69 | 27.98 | 37.40 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 7.0% | 5.7% | 3.1% | 4.3% | 5.9% | 4.1% | 7.2% | 6.0% | 4.0% | 0.3% |
| FCF Yield | 7.4% | 7.5% | 5.6% | 3.8% | 3.8% | 1.6% | 6.0% | 6.6% | 7.5% | 10.2% | 8.0% |
| Buyback Yield | 7.3% | 7.4% | 3.3% | 1.7% | 2.6% | 4.9% | 1.1% | 5.1% | 3.8% | 5.5% | 1.1% |
| Total Shareholder Yield | 7.3% | 7.4% | 3.3% | 1.7% | 2.6% | 4.9% | 1.1% | 5.1% | 3.8% | 5.5% | 1.1% |
| Shares Outstanding | — | $146M | $153M | $156M | $160M | $167M | $170M | $172M | $179M | $192M | $194M |
Inventory Velocity and Saturation
According to current market data, DECK trades at a forward P/E of 15.17, which, when viewed alongside its PEG ratio of 0.58, suggests that investors are pricing in a growth trajectory that may be decoupling from the broader, more mature footwear sector benchmarks.
The current valuation appears to reward the company's superior growth profile and lack of debt compared to peers like Steven Madden or Wolverine World Wide. However, the compression in multiples relative to historical peaks warrants caution, as it may indicate that the market is beginning to discount the sustainability of Hoka's rapid expansion phase.
Based on reported financial statements, DECK's ROIC has demonstrated significant volatility, peaking at 44.7% in 2025Q3 before moderating to 12.4% in 2026Q4, a trend that highlights the company's reliance on seasonal peak performance to generate high returns on its invested capital base.
The wide variance in ROIC suggests that while the company is highly efficient during peak selling seasons, its capital base is increasingly burdened by inventory and infrastructure investments. Investors should monitor whether the company can maintain these returns as it scales its apparel segment, which may inherently carry lower capital efficiency than its core footwear business.
As indicated by recent SEC filings, the company's cash conversion cycle has fluctuated between 38 and 65 days over the last ten quarters, reflecting the inherent difficulty in managing inventory turnover for a business that remains heavily dependent on the Q3 winter selling season.
The increase in days inventory outstanding (DIO) to 102 days in 2026Q4, compared to 86 days in the prior year's peak, suggests a potential slowdown in sell-through velocity. This trend warrants close investigation, as it may indicate that the company is struggling to maintain its historical inventory efficiency while expanding its global distribution footprint.
According to the latest balance sheet data, DECK maintains a negligible debt-to-equity ratio of 0.15, a position that stands in stark contrast to the more leveraged profiles of industry peers and provides the firm with significant financial flexibility during periods of macroeconomic uncertainty.
The company's minimal reliance on external financing effectively insulates it from interest rate volatility, allowing for sustained investment in marketing and R&D even when consumer discretionary spending softens. This structural advantage appears to be a key pillar of the investment thesis, distinguishing DECK from peers that are currently constrained by debt service obligations.
The P/E ratio is frequently misapplied to DECK because it fails to account for the extreme quarterly earnings lumpiness inherent in the company's seasonal business model, often leading to distorted valuation conclusions when analysts rely on trailing twelve-month figures rather than normalized annual performance.
Investors should instead focus on EV/EBITDA or free cash flow yield, which better capture the company's underlying cash-generating capability regardless of the timing of wholesale shipments. Relying on P/E in isolation risks misinterpreting seasonal inventory builds as permanent earnings degradation, potentially leading to premature divestment decisions.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying DECK stock.
Deckers Outdoor Corporation's current P/E ratio is 15.1x. The historical average is 18.4x. This places it at the 37th percentile of its historical range.
Deckers Outdoor Corporation's current EV/EBITDA is 10.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.8x.
Deckers Outdoor Corporation's return on equity (ROE) is 40.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 18.6%.
Based on historical data, Deckers Outdoor Corporation is trading at a P/E of 15.1x. This is at the 37th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Deckers Outdoor Corporation has 56.1% gross margin and 22.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Deckers Outdoor Corporation's Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.