At ~$91, DECK trades ~12x forward earnings with zero debt, $1.6B cash, ~$1.1B FCF, and buybacks shrinking shares ~7%/yr. The stock is priced as if growth is over while HOKA DTC +17%, international expansion, and ~$120M unbooked refund create
At ~$91, DECK trades ~12x forward earnings with zero debt, $1.6B cash, ~$1.1B FCF, and buybacks shrinking shares ~7%/yr. The stock is priced as if growth is over while HOKA DTC +17%, international expansion, and ~$120M unbooked refund create