"With this being my final call before I pass the torch to Stefano at the end of the month, I am confident that the Deckers team has laid the groundwork to deliver another year of excellent results."
— Dave Powers
03Detailed Report
DECK
Deckers Outdoor Corporation
Period
Q1 2025
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 5, 2026
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Executive Summary
Deckers Outdoor Corporation reported a strong financial performance for Q1 2025, reflecting a 22% increase in revenue year-over-year, reaching $825 million. The growth was primarily driven by the HOKA brand, which saw a remarkable 30% growth to $545 million. The gross margin improved significantly to 56.9%, backed by better product mix and higher full-price selling. Net income surged to $115.6 million, representing an impressive 82% increase compared to the previous year. Management commentary emphasized a robust demand environment across both direct-to-consumer (DTC) and wholesale channels, indicating a well-controlled marketplace focused on sustainable growth.
Key Performance Indicators
Revenue
Increasing
825.35M
QoQ: -14.00% | YoY: 22.13%
Gross Profit
Increasing
452.47M
54.82% margin
QoQ: -16.13% | YoY: 30.61%
Operating Income
Increasing
132.81M
QoQ: -7.94% | YoY: 87.75%
Net Income
Increasing
115.63M
QoQ: -9.35% | YoY: 81.94%
EPS
Increasing
0.76
QoQ: -8.84% | YoY: 86.83%
Revenue Trend
Margin Analysis
Financial Highlights
1. Revenue: $825 million, up 22% YoY
2. Gross Profit: $452.5 million, gross margin of 56.9%, up 560 basis points YoY
3. Operating Income: $132.8 million, operating margin of 16.1%
4. Net Income: $115.6 million, with EPS of $4.52, up 87% YoY
5. DTC Revenue Growth: 24% YoY, HOKA DTC growth at 33% YoY
6. Cash and Cash Equivalents: $1.44 billion
7. Repurchased Shares: $152 million in Q1 2025
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
825.35M
22.13%
-14.00%
Gross Profit
452.47M
30.61%
-16.13%
Operating Income
132.81M
87.75%
-7.94%
Net Income
115.63M
81.94%
-9.35%
EPS
0.76
86.83%
-8.84%
Key Financial Ratios
Gross Profit Margin
Good
54.80%
Gross profit margin is healthy and competitive within industry standards
Operating Profit Margin
Good
16.10%
Operating margin is healthy and competitive within industry standards
Net Profit Margin
Good
14.00%
Net profit margin is healthy and competitive within industry standards
Return on Assets
Fair
3.50%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
5.57%
Return on equity is acceptable but below top-tier companies
Current Ratio
Strong
2.86
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.13
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
High Growth
52.13x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
High Premium
11.62x
Very high premium suggests asset-light business model or lofty expectations
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