Strativest CapitalSTRATIVEST RESEARCH
Independent research · Est. October 2026
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Stock X-Ray · Consumer Discretionary · S&P 500 Full Coverage — Phase 1

Deckers Brands (DECK)

X-Ray dated Oct 28, 2026 · Share price as of Oct 28, 2026 intraday, when the valuation snapshot was captured · Financials from SEC filings (EDGAR) · Valuation multiples from a labelled secondary source
The verdict — valuation label: OVERVALUED

Forward P/E is 10.16x against a peer median of 7.23x, a ratio of 1.41x — above the fair range — with trailing P/E 10.54x and PEG 1.76. Latest-quarter revenue grew 5.7% year over year (PRIMARY, EDGAR), exactly in line with the group pace and with a PEG above 1.5, so the growth exception does not apply. Delivered demand check: the autos, parts & leisure group's median growth was 5.7% year over year — demand steady, and this company matches that pace.

10.2×
Forward P/E — price vs next year’s expected earnings (secondary source)
7.2×
Peer median forward P/E — closest comparable companies
10.5×
Trailing P/E — price vs the last twelve months of earnings
2.0×
Price / sales

What would change this label: Move to FAIRLY PRICED if the forward P/E compresses to about 8.31x or below (1.15x the peer median) at unchanged estimates, or if revenue growth rises above 11% year over year for two quarters with the PEG at or below about 1.5. Move further from fair value if revenue growth falls below 0% year over year while the forward multiple stays above 10x.

In simple words

Deckers sells premium footwear, including boots and running shoes. Its shares trade at about 10 times expected earnings, which sounds low, but the similar companies in its group trade at only about 7 times, and its sales grew 5.7%, the same pace as the group. Against its own group, the price is ahead, so the shares look overvalued.

Words we use, in plain English: P/E ratio — the share price divided by earnings per share; how many dollars you pay for one dollar of yearly profit. Forward P/E — the same, using next year’s expected earnings. Free cash flow — cash a company has left after running the business and buying equipment. TTM — the last twelve months. Drawdown — the worst fall from a peak to the low after it.
The share price vs the market — six years
Deckers Brands (DECK)S&P 500 (SPY)
522083655216772021202220232024202520262020-09-012026-10-27

Both lines start at 100 on 2020-09-01. Over the full window Deckers Brands returned +130.15% and the S&P 500 +118.28% (price returns; dividends not reinvested). Worst peak-to-trough fall for Deckers Brands: -65.3% (2025-01-30 to 2026-09-15). Source: Nasdaq official daily history.

What the label rests on

Forward P/E is 10.16x against a peer median of 7.23x, a ratio of 1.41x — above the fair range — with trailing P/E 10.54x and PEG 1.76. Latest-quarter revenue grew 5.7% year over year (PRIMARY, EDGAR), exactly in line with the group pace and with a PEG above 1.5, so the growth exception does not apply. Delivered demand check: the autos, parts & leisure group's median growth was 5.7% year over year — demand steady, and this company matches that pace. The company’s forward P/E is 10.2× against a peer median of 7.2×. Its own history: UNVERIFIED — no sourced range available. Sector demand read: Delivered demand check: the Autos, parts & leisure group's median latest-quarter revenue growth was 5.7% year over year (SEC filings) — demand steady. Deckers Brands grew 5.7%, exactly matching the group median. Latest-quarter sales growth was +5.7% versus a year earlier (SEC filings).

CompanyPrice (Oct 28, 2026)Forward P/ETrailing P/E
Deckers Brands (DECK)$79.7910.2×10.5×
APTV—7.2×42.3×
HAS—18.1×17.9×
F—6.7×—
GRMN—25.8×26.4×
GM—5.7×19.0×
Peer median7.2×

Multiples: stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026. Peer set chosen by sector; the median is the middle value of the set. The label and its numbers were recorded in the programme’s label registry on Oct 28, 2026 and will be scored at 6 and 12 months.

Sales, profit and cash

Sales each quarter, and the gross margin
SalesGross margin (right axis)
$0B$1B$1B$2B0%36%72%Sep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025Jun 2026

Gross margin = gross profit divided by sales, from SEC filings.

Cash left over each quarter (free cash flow)
PositiveNegative
$-1B$0B$1BSep 2020Sep 2021Sep 2022Sep 2023Sep 2024Sep 2025Jun 2026

Free cash flow = cash from operations minus spending on plant and equipment, both from the company’s SEC cash-flow statement. Gaps are quarters where that spending line is not separately tagged in the filings — shown as gaps, never estimated.

QuarterSalesGross marginNet incomeEPS (GAAP, diluted)Free cash flow
Q/E Jun 2026
2026-06-30
$1.0B56.4%$130M0.94$33M
Q/E Mar 2026
2026-03-31
$1.1B57.6%$136M—$79M
Q/E Dec 2025
2025-12-31
$2.0B59.8%$481M3.33$1.0B
Q/E Sep 2025
2025-09-30
$1.4B56.2%$268M1.82$-14M
Q/E Jun 2025
2025-06-30
$965M55.8%$139M0.93$12M
Q/E Mar 2025
2025-03-31
$1.0B56.7%$151M—$-89M
Q/E Dec 2024
2024-12-31
$1.8B60.4%$457M3.00$1.1B
Q/E Sep 2024
2024-09-30
$1.3B55.9%$242M1.59$-113M
Q/E Jun 2024
2024-06-30
$825M57.0%$116M4.52$90M
Q/E Mar 2024
2024-03-31
$960M56.2%$128M4.95$-44M
Q/E Dec 2023
2023-12-31
$1.6B58.7%$390M15.11$924M
Q/E Sep 2023
2023-09-30
$1.1B53.4%$179M6.82$-30M

The last twelve reported quarters. Full 24-quarter history sits in the data pack behind this page. A dash means the figure is not tagged as a standalone quarter in the company’s SEC facts (the usual case is the fourth quarter, which many companies only report inside the full-year filing) — it is missing, not zero.

Earnings: getting better or worse?

Each box is one quarter’s earnings per share (EPS). Green means EPS was higher than the same quarter a year earlier; red means lower; a dash means the figure is not tagged in the filings.

Sep 2022
3.80
Dec 2022
10.48
Mar 2023
3.46
Jun 2023
2.41
Sep 2023
6.82
Dec 2023
15.11
Mar 2024
4.95
Jun 2024
4.52
Sep 2024
1.59
Dec 2024
3.00
Mar 2025
—
Jun 2025
0.93
Sep 2025
1.82
Dec 2025
3.33
Mar 2026
—
Jun 2026
0.94

Basis: GAAP diluted EPS from SEC company facts, compared with the same quarter a year earlier.

Key facts

ItemValue
Company (legal name in filings)DECKERS OUTDOOR CORP
Chief executiveStefano Caroti (source: https://en.wikipedia.org/wiki/Deckers_Brands)
SectorConsumer Discretionary — Footwear — sells premium footwear, including boots and running shoes
Share price (Oct 28, 2026)$79.79
Market value (market cap)$11.0B — share price times shares outstanding of 136,414,227 (SEC filings; SEC EDGAR dei EntityCommonStockSharesOutstanding (latest))
Sales, last twelve months$5.5B
Net income, last twelve months$1.0B
Free cash flow, last twelve months$1.1B
Latest reported quarterQ/E Jun 2026 (of 24 quarters in the data pack)
Six-year price return vs S&P 500+130.15% vs +118.28%
Worst peak-to-trough fall-65.3% (2025-01-30 to 2026-09-15)

What we could not verify

  • TTM GAAP diluted EPS could not be summed from company facts because at least one of the last four quarters (typically Q4) has no standalone tagged EPS; trailing P/E is therefore taken from the labelled secondary source in valuation_label.md.
  • Own-history P/E range not yet compiled for this company in the Phase 1 batch run; the label rests on peer-median, growth and PEG evidence.
  • Guidance record (each quarter scored against the guidance the company gave the quarter before) is not yet compiled for this company — it is a Phase 2 layer. The earnings strip below therefore uses reported EPS versus a year earlier, which is fully sourced from filings.

The IT factor — the most exciting thing the market is overlooking — is not assessed on an X-Ray page. It belongs to the Deep Dive (Phase 2), where it gets the evidence standard it needs. Leadership-era scoring (the six years split by chief executive) is likewise a Phase 2 layer; this page names the current chief executive only, from a sourced profile.

Sources

  • SEC EDGAR submissions — Filing index; company legal name. https://data.sec.gov/submissions/CIK0000910521.json
  • SEC EDGAR company facts — Quarterly financial spine: revenue, gross profit, net income, GAAP diluted EPS, operating cash flow, PP&E capex, buybacks, dividends, diluted shares. https://data.sec.gov/api/xbrl/companyfacts/CIK0000910521.json
  • Nasdaq official daily history — Daily closes for the company; SPY (assetclass=etf) saved as raw/nasdaq_spy_raw.json over identical dates. https://api.nasdaq.com/api/quote/DECK/historical?assetclass=stocks
  • Valuation multiples and peer figures — stockanalysis.com (SECONDARY, S&P Global data), fetched Oct 28, 2026; see valuation_label.md in the data pack.

Conventions: earliest-filed value per period, as first reported; cash-flow years-to-date differenced quarter by quarter; EPS never differenced; free cash flow = operating cash flow minus plant-and-equipment spending. This page is a dated snapshot — updates are new versions, never silent edits.

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