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Deckers Outdoor cash flow, quarter by quarter

Latest: Q2 FY27 · from the cash-flow statements filed with the SEC

Free cash flow−$79.1M in Q2 FY27 · $1.1B over twelve months

Operating cash flow−$57.2M
Capital spending−$22.0M
Free cash flow−$79.1M
Cash / net income-0.2×
Cash conversion cycle56 days

Analysis

In Q2 FY27, Deckers Outdoor generated −$57.2M of operating cash flow and spent $22.0M on capital projects, leaving free cash flow of −$79.1M. That is $65.2M less than in Q2 FY26 (−$13.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.1B; the largest uses were buybacks ($1.2B), capital spending ($75.9M), other financing ($11.5M); besides operations, cash came from shares issued ($4.3M), other investing ($11K); the cash balance fell by $205M.

Operating cash flow was −$57.2M against net income of $313M — -0.2× profit, less cash than reported earnings, worth checking against working capital. The largest differences: receivables −$312M, payables −$77.2M, accrued liabilities +$55.2M.

Its cash conversion cycle was 56 days (receivables 33 + inventory 131 − payables 108).

Free cash flow

Deckers Outdoor: free cash flow by quarterDeckers Outdoor: free cash flow by quarter$1.1BQ3 FY25−$89.4MQ4 FY25$12.2MQ1 FY26−$13.9MQ2 FY26$1.0BQ3 FY26$78.8MQ4 FY26$32.7MQ1 FY27−$79.1MQ2 FY27
Operating cash flow less capital spending.
Deckers Outdoor: operating cash flow against capital spendingDeckers Outdoor: operating cash flow against capital spendingOperating cash flowCapital spending$1.1B$24.4MQ3 FY25−$73.0M$16.4MQ4 FY25$36.1M$23.9MQ1 FY26$8.1M$22.0MQ2 FY26$1.0B$21.6MQ3 FY26$95.8M$17.1MQ4 FY26$47.9M$15.2MQ1 FY27−$57.2M$22.0MQ2 FY27
Latest (Q2 FY27): Operating cash flow −$57.2M, Capital spending $22.0M.

Capital allocation, year by year

Deckers Outdoor: where the cash came from (up) and went (down), by fiscal yearDeckers Outdoor: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedAsset salesCapital spendingBuybacksFY22: Operating cash flow $172MFY22: Shares issued $3.2MFY22: Asset sales $8KFY22: Capital spending −$51.0MFY22: Buybacks −$357M$176MFY22FY23: Operating cash flow $537MFY23: Shares issued $6.6MFY23: Asset sales $12KFY23: Capital spending −$81.0MFY23: Buybacks −$297M$544MFY23FY24: Operating cash flow $1.0BFY24: Shares issued $7.2MFY24: Asset sales $34KFY24: Capital spending −$89.4MFY24: Buybacks −$415M$1.0BFY24FY25: Operating cash flow $1.0BFY25: Shares issued $4.8MFY25: Asset sales $11.2MFY25: Capital spending −$86.2MFY25: Buybacks −$567M$1.1BFY25FY26: Operating cash flow $1.2BFY26: Shares issued $4.5MFY26: Asset sales $11KFY26: Capital spending −$84.6MFY26: Buybacks −$1.1B$1.2BFY26
Over these 5 years operating cash flow totalled $4.0B; the largest uses were buybacks ($2.7B) and capital spending ($392M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.2B
Debtnone
Net cash$1.2B

Deckers Outdoor funds itself: free cash flow was $1.1B over the last twelve months, with $1.2B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Deckers Outdoor: sources (+) and uses (−) of cash, Q2 FY27Deckers Outdoor: sources (+) and uses (−) of cash, Q2 FY27Cash drawn (+) / kept (−)$393MBuybacks−$299MOperating cash flow−$57.2MCapital spending−$22.0MOther financing−$9.4MTaxes on employees’ shares−$6.3MExchange rates$1.3MOther investing−$9K
Deckers Outdoor: sources (+) and uses (−) of cash, TTM to Q2 FY27Deckers Outdoor: sources (+) and uses (−) of cash, TTM to Q2 FY27Buybacks−$1.2BOperating cash flow$1.1BCash drawn (+) / kept (−)$205MCapital spending−$75.9MOther financing−$11.5MTaxes on employees’ shares−$7.3MExchange rates$4.7MShares issued$4.3MOther investing$11K

From profit to cash

Deckers Outdoor: net income to operating cash flow, Q2 FY27Deckers Outdoor: net income to operating cash flow, Q2 FY27Net income$313MDepreciation & amortization$18.3MStock-based pay$10.4MDeferred taxes−$983KGains on disposals$78KReceivables−$312MInventory−$53.3MPayables−$77.2MAccrued liabilities$55.2MPrepaid and other assets−$23.2MOther liabilities−$6.6MIncome taxes payable$31.4MOperating cash flow−$57.2M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 FY273313110856
Q1 FY273113311450
Q4 FY26271069340
Q3 FY2621867037
Q2 FY26291249756
Q1 FY263314312354
Q4 FY252810910235
Q3 FY2521867136

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q2 FY27−$57.2M−$22.0M−$299M—$393M−$79.1M
Q1 FY27$47.9M−$15.2M−$338M—$305M$32.7M
Q4 FY26$95.8M−$17.1M−$262M$2.3M$179M$78.8M
Q3 FY26$1.0B−$21.6M−$349M—−$672M$1.0B
Q2 FY26$8.1M−$22.0M−$282M—$306M−$13.9M
Q1 FY26$36.1M−$23.9M−$183M—$169M$12.2M
Q4 FY25−$73.0M−$16.4M−$266M$2.2M$352M−$89.4M
Q3 FY25$1.1B−$24.4M−$44.7M$274K−$1.0B$1.1B

Deckers Outdoor: income statement and cash flow

Deckers Outdoor, Q2 FY27: revenue $1.5B (+4% year over year), operating margin 26.3%. The chart follows the revenue to costs, profit and cash.

Deckers Outdoor: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.