Deckers Outdoor Posts Record 10% Revenue Growth to $5.47B with $128 Price Target
DECK•Deckers Outdoor reported a record 10% full-year revenue climb to $5.47 billion and 11% EPS increase to $7.02, driven by HOKA and UGG. Despite strong results and $1 billion buybacks, stock is down nearly 20% over the past year and Argus cut its price target to $128.
1. Fiscal 2026 Financial Results
Deckers Outdoor delivered record full-year results with revenue rising 10% to $5.47 billion and diluted EPS climbing 11% to $7.02.
2. Brand Performance Drivers
HOKA sales increased 15.9% to $2.59 billion while UGG sales grew 8.2% to $2.74 billion, offsetting contractions in other lines.
3. Fourth-Quarter Operating Income
Fourth-quarter operating income fell to $156.7 million from $173.9 million year-over-year due to elevated operating expenses.
4. Capital Allocation and Outlook
The company repurchased over $1 billion in shares, holds $1.91 billion in cash with no debt, and a $128 price target implies roughly 11.9% upside.
