# Deckers (DECK) Q1 FY2027: HOKA & UGG Beat and Raised — So Why Is the Stock Near Its Lows?

Page: https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/deckers-deck-q1-fy2027-hoka-ugg-beat-and-raised-so-why-is-the-stock-near-its-lows
Text version: https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/deckers-deck-q1-fy2027-hoka-ugg-beat-and-raised-so-why-is-the-stock-near-its-lows.md
Podcast: [Charged Alpha Stock Encyclopedia](https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792)
Published: 2026-07-25T06:57:21+00:00
Episode link: https://chargedalpha.podbean.com/e/deckers-deck-q1-fy2027-hoka-ugg-beat-and-raised-%e2%80%94-so-why-is-the-stock-near-its-lows/
Audio file: https://mcdn.podbean.com/mf/web/f58sfzwlh6sqdj7k/audio_4.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/charged-alpha-stock-encyclopedia-7819792/episodes/deckers-deck-q1-fy2027-hoka-ugg-beat-and-raised-so-why-is-the-stock-near-its-lows
Duration seconds: 889

## Resource

Deckers Outdoor Corporation (DECK) Q1 FY2027 — Deckers Brands (DECK), the parent of HOKA and UGG, reported fiscal Q1 FY2027 (quarter ended June 30, 2026): revenue of $1.020B (+5.7% YoY; +4.8% constant-currency) — its first-ever billion-dollar first quarter — diluted EPS of $0.94 (beat the ~$0.87 estimate; +1% YoY), and gross margin of 56.4% (+60 bps). Management RAISED full-year FY2027 EPS guidance by 5 cents to $7.35-$7.50 and held revenue at $5.86-$5.91B. Yet the stock fell after the print and sits near its 52-week low (~$96 vs a ~$126 high). The honest read: this was a LOW-QUALITY beat. HOKA — the entire growth engine — grew just 7.7% to $703.5M (down from 30%+ two years ago), UGG grew 4.9% to $278.0M, and Other brands fell 18.1% to $37.9M (Koolaburra wind-down). Operating income actually FELL 6% ($155.3M vs $165.3M) as SG&A jumped 12.7% on marketing, stores and tariffs; EPS only rose because the share count shrank ~7.4% via buybacks. FY2027 op-margin guidance was cut to ~21.5% (from 22.8%), and the outlook explicitly assumes NO refunds on tariffs already paid. Bright spots: DTC +13.0% (comps +6.8%), international +8.4% (vs domestic +3.2%). Balance sheet is a fortress — $1.6B cash, zero debt (~12% of market cap), $338M repurchased in Q1 and $4.7B still authorized (~35% of the company). At ~13x TTM EPS with net cash, our owner-earnings DCF lands fair value ~$120 (base 9% discount, decelerator path) — ~25% above the ~$96 price; even the most cautious corner of the grid ($107) is above the price. Our call: BUY, 4/5 — the market over-punished a debt-free brand machine, but HOKA's growth rate is the one thing to watch. Deckers Brands (NYSE: DECK) is the company behind two of the hottest names in footwear: HOKA, the maximalist performance-running brand, and UGG, the 6…

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/charged-alpha-stock-encyclopedia-7819792/episodes/deckers-deck-q1-fy2027-hoka-ugg-beat-and-raised-so-why-is-the-stock-near-its-lows/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/deckers-deck-q1-fy2027-hoka-ugg-beat-and-raised-so-why-is-the-stock-near-its-lows.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.