DCF Tool

DECK

Deckers Outdoor Corp. – Footwear Manufacturing
Deckers Outdoor Corporation, doing business as Deckers Brands, is a footwear designer and distributor based in Goleta, California, United States. It was founded in 1973 by University of California, Santa Barbara alumni Doug Otto and Karl F. Lopker.
Analysis Results
Intrinsic Value $2,110.32
Latest Price $380.81
Relative Value 82% undervalued
Thoughts on this result? Let us know.
Ad
Cash Flow (Billions)
Analysis Parameters
%
%
%
New Ticker
Ad
Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 60.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 11.0%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 60.4%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2022 1.1 0.991
2023 1.76 1.43
2024 2.83 2.07
2025 4.54 2.99
2026 7.28 4.32
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 82.4 billion. This corresponds to a present value of 44.1 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 11.8 billion. Adding in the terminal value gives a total present value of 55.9 billion.

There are presently 26.5 million outstanding shares, so the intrinsic value per share is 2110.32.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,752,128,000
Current Cash 843,527,000
Current Liabilities 541,684,000
Current Debt 0
Non-Cash Working Capital (NCWC) 366,917,000
Change in NCWC 273,847,000
EBIT 564,707,000
Tax Provision 112,689,000
Depreciation and Amortization 44,430,000
Capital Expenditure -51,017,000
Unlevered Free Cash Flow 719,264,229
Current Assets 1,650,799,000
Current Cash 1,089,361,000
Current Liabilities 468,368,000
Current Debt 0
Non-Cash Working Capital (NCWC) 93,070,000
Change in NCWC -151,297,000
EBIT 504,205,000
Tax Provision 118,939,000
Depreciation and Amortization 40,530,000
Capital Expenditure -32,218,000
Unlevered Free Cash Flow 241,642,802
Current Assets 1,194,111,000
Current Cash 649,436,000
Current Liabilities 300,946,000
Current Debt 638,000
Non-Cash Working Capital (NCWC) 244,367,000
Change in NCWC -11,425,000
EBIT 338,135,000
Tax Provision 64,724,000
Depreciation and Amortization 38,912,000
Capital Expenditure -32,455,000
Unlevered Free Cash Flow 268,961,565
Current Assets 1,095,405,000
Current Cash 589,692,000
Current Liabilities 250,524,000
Current Debt 603,000
Non-Cash Working Capital (NCWC) 255,792,000
Change in NCWC -36,340,000
EBIT 327,320,000
Tax Provision 64,626,000
Depreciation and Amortization 44,941,000
Capital Expenditure -29,086,000
Unlevered Free Cash Flow 242,526,104
Current Assets 910,690,000
Current Cash 429,970,000
Current Liabilities 189,166,000
Current Debt 578,000
Non-Cash Working Capital (NCWC) 292,132,000
Change in NCWC -78,423,000
EBIT 222,584,000
Tax Provision 106,302,000
Depreciation and Amortization 48,572,000
Capital Expenditure -34,813,000
Unlevered Free Cash Flow 50,708,612
Current Assets 820,821,000
Current Cash 291,764,000
Current Liabilities 159,051,000
Current Debt 549,000
Non-Cash Working Capital (NCWC) 370,555,000
Change in NCWC 1,769,000
EBIT -1,919,000
Tax Provision -12,696,000
Depreciation and Amortization 52,628,000
Capital Expenditure -44,499,000
Unlevered Free Cash Flow 7,979,000
Current Assets 785,765,000
Current Cash 245,956,000
Current Liabilities 238,498,000
Current Debt 67,475,000
Non-Cash Working Capital (NCWC) 368,786,000
Change in NCWC 69,495,000
EBIT 162,127,000
Tax Provision 34,620,000
Depreciation and Amortization 50,024,000
Capital Expenditure -70,056,000
Unlevered Free Cash Flow 175,813,241
Current Assets 686,593,000
Current Cash 225,143,000
Current Liabilities 167,542,000
Current Debt 5,383,000
Non-Cash Working Capital (NCWC) 299,291,000
Change in NCWC 17,902,000
EBIT 224,419,000
Tax Provision 59,359,000
Depreciation and Amortization 49,293,000
Capital Expenditure -100,636,000
Unlevered Free Cash Flow 130,738,569
Current Assets 829,304,000
Current Cash 237,125,000
Current Liabilities 320,518,000
Current Debt 9,728,000
Non-Cash Working Capital (NCWC) 281,389,000
Change in NCWC -65,933,000
EBIT 207,897,000
Tax Provision 59,868,000
Depreciation and Amortization 41,439,000
Capital Expenditure -79,829,000
Unlevered Free Cash Flow 43,024,480
Current Assets 691,586,000
Current Cash 110,247,000
Current Liabilities 267,017,000
Current Debt 33,000,000
Non-Cash Working Capital (NCWC) 347,322,000
Change in NCWC 25,105,000
EBIT 186,948,000
Tax Provision 55,104,000
Depreciation and Amortization 33,367,000
Capital Expenditure -66,533,000
Unlevered Free Cash Flow 122,936,019
Current Assets 817,902,000
Current Cash 263,606,000
Current Liabilities 232,079,000
Current Debt 0
Non-Cash Working Capital (NCWC) 322,217,000
Change in NCWC 196,574,000
EBIT 284,838,000
Tax Provision 83,404,000
Depreciation and Amortization 28,977,000
Capital Expenditure -59,563,000
Unlevered Free Cash Flow 367,545,967

This analysis is provided for informational purposes only and does not constitute financial or investing advice. For more information on the advantages and limitations of DCF analysis see background. This information is provided on an "as is" basis. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. By using this site you agree that under no circumstances shall Valuation Tools LLC be held liable for any loss or damage caused by information obtained from this website including any articles, data, videos, its social media accounts, or any other materials.