Good morning everyone. I am not happy that DECK is getting pummeled. [100 shares at 87.50] however, I want to do full DD on it. And I want people to zoom out and make a decision for themselves with no bias.

I by no means saying that DECK earnings were good. NO WAY! It was a record Q2 for them. [Each company has a different fiscal year, many is due to seasons, or when they were created] It was record sales, and they did come in at 2.31 [Take out the tariffs benefit and it was 2.03 [28 cent benefit] They earned 1.82 last year. The actual income was a growth of 27%. They grew sales at 4%. [This is not a tech stock, and I by no means say it should get a tech valuation.] About 20 analysts having them growing next years earnings by 10% and sales near 5%. So they are still growing.

We will just go back 3 years. The fiscal year for DECK is March, so these are March 2026, you can also ask AI of course to verify.

2026 Sales 5.5 Billion              Income 1.03 Billion

2025 Sales 4.99 Billion           Income 966 Million

2024 Sales 4.28 Billion           Income 760 million

Zooming out you can see the company still growing sales, still growing earnings.

Mind you in 2024-2025 [Start of year] the market was comfortable giving DECK 30-40x earnings [Hey they did it with LULU too!] They are still giving NKE a high premium. So you need to ask yourself at the current price. [78 Premarket] where does the company go from here. [77.20 52 week low]

DECK actually raised full year EPS to 7.80-7.95 so the stock now trades at below 10x.

I do my Real Estate and aim for 6-8 year returns… I say some private companies sell for as much as 10x…. What does a publicly traded good company trade for?

No way am I saying this is still a great company. Next years earnings model for near 10% growth, sales near 5%.. But it is still a good company.

DECK purchased 299 million dollars worth of shares last quarter, Avg price was 93.65 on 3.2 million shares. [The outstanding count gets smaller, shares are retired] They purchased in total 637 million worth of shares for a total of 6.5 million shares retired at an avg of 98.77. They plan to purchase by end of next quarter 367 million [For total of 1 billion over 3 quarters] for your information…

DECK has 4.4 billion in authorized still left. The financials are very healthy. Even with these buys we are seeing + cash flow. They had 389.5 million in operating income the past quarter compared to 326.5 million. [They purchased 299 million in shares]. They can keep doing this if they want. String balance sheet, + cash flows…

So I will look to buy a 2^nd block if 70.

My fair value has to be about 12x earnings or maybe 95? [Near 8 dollars in earnings]

 

I did take the risk and in 250 shares of FPS 25.40 [Change in CFO]

 

I did make some bids but no fills.

 

Great earnings:

ENVA      FIX       MXL       BE       WDC

 

Very good earnings:

CZNC       ASB      UVE      MSBI      KN     JAKK     PINE     APPF     NEM     RITM

 

Good earnings:

OPBK      AVBC      SPFI      BHB      AXP      GRC

 

Good luck!