DECKERS OUTDOOR CORP Earnings Summary — Q4 2026

• Revenue grew 9.55% year-over-year to $1.12 billion, marking a resilient fourth quarter performance.
• The HOKA brand continues its trajectory as a major growth engine alongside a revitalized UGG brand.
• Operating margins show expected seasonal compression from Q3 (31.4%) to Q4 (14.0%) due to holiday sales cycling.
• Net income for the quarter reached $135.57 million, a slight decrease compared to $151.41 million in Q4 2025.
• The balance sheet remains exceptionally strong with zero long-term debt and high shareholder equity.
• Return on equity (ROE) for the full year 2026 reached an elite level of approximately 40.8%.
• Direct-to-Consumer (DTC) channels continue to drive premiumization and scale efficiencies.
• Aggressive market share gains from legacy competitors like Nike suggest continued brand strength.

Management remains focused on pivoting UGG into a year-round lifestyle staple and establishing HOKA as a premier global runner with an emphasis on expansion into the DTC model to sustain elite-level margins.

Stable

While net income dipped slightly year-over-year this quarter, the underlying revenue growth and debt-free status suggest a healthy high-quality compounder.

Deckers is positioned as a diversified athletic and lifestyle powerhouse with non-linear profitability scaling and a clear path toward maintaining industry-leading returns on equity through global HOKA adoption.