DECKERS OUTDOOR CORP

DECK · Materials · $15.0B mkt cap · FY2026 filings · Wide moat

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Wide moat

The four filters

Pricing power82

Median gross margin 51.6% over 10y, very stable.

Returns on capital97

Median ROIC 64.8%, above the 9% hurdle in 90% of years.

Balance-sheet safety73

Net debt/EBITDA n/ax, interest coverage 499x.

Capital discipline100

Owner earnings +61.3%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

10% above value

Owner earnings (normalized): $759.6M
Est. intrinsic value / share: $97.67
Recent price: $107.34
Discount to value: 10% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell DECK. See the disclaimer.