DECK
Deckers Outdoor Corporation
DECK has the edge over NIO overall, supported by stronger valuation and stronger modeled upside.
NIO
NIO Inc.
NIO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
DECK Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Healthy | |
| Strong |
DECK's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
NIO Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Stable | |
| Unavailable |
NIO's revenue is currently strong, and its profitability and cash flow are stable. There isn't enough data to rate its balance sheet.
DECK PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 11x | $84.53 | — |
| Forward | 11x | $84.53 | — |
| Cheap | 16x | $117 | +38% |
| Fair | 22x | $167 | +97% |
| Expensive | 29x | $217 | +156% |
Historical ranges are pointers, not guarantees.
DECK's PE is in its cheap range at 11.2x. If earnings grow as analysts expect, today's price would be 10.8x next year's earnings.
NIO PE Valuation
NIO has no meaningful PE right now: it lost money over the past year.
DECK Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect earnings and revenue growth for DECK, with profitability improving. However, they disagree widely on these estimates.
NIO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect NIO's losses to shrink, with revenue growing.
DECK Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $7.84 | +4.2% |
| Q3 2026 | $7.52 | +12% |
| Q2 2026 | $7.03 | +8% |
| Q1 2026 | $7.02 | +11% |
| Q4 2025 | $7.07 | +15% |
| Q3 2025 | $6.74 | +18% |
| Q2 2025 | $6.51 | +24% |
| Q1 2025 | $6.33 | +30% |
| Q4 2024 | $6.17 | +33% |
DECK has the edge over NIO on earnings quality, reporting a profit while its opponent remains loss making.
NIO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.29 | +$1.45 |
| Q1 2026 | -$0.60 | +$1.16 |
| Q4 2025 | -$1.06 | +$0.60 |
| Q3 2025 | -$1.59 | +$0.02 |
| Q2 2025 | -$1.74 | -$0.10 |
| Q1 2025 | -$1.76 | +$0.06 |
| Q4 2024 | -$1.66 | +$0.21 |
| Q3 2024 | -$1.61 | +$0.32 |
NIO is still losing money, but far less than before: $0.29 per share over the past year, against $1.93 at its worst in late 2023.
DECK Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.5B | +3.5% |
| Q2 2026 | $1B | +5.7% |
| Q1 2026 | $1.1B | +9.6% |
| Q4 2025 | $2B | +7.1% |
| Q3 2025 | $1.4B | +9.1% |
| Q2 2025 | $964.5M | +17% |
| Q1 2025 | $1B | +6.5% |
| Q4 2024 | $1.8B | +17% |
DECK's revenue has grown year over year every quarter since late 2020: $1.5B last quarter, up 3.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 26% | +3.5 points |
| Q2 2026 | 15% | -1.9 points |
| Q1 2026 | 14% | -3 points |
| Q4 2025 | 31% | +0.3 points |
| Q3 2025 | 23% | -0.4 points |
| Q2 2025 | 17% | +1.1 points |
| Q1 2025 | 17% | +2 points |
| Q4 2024 | 31% | -0.2 points |
DECK has the edge over NIO on profitability, with a higher operating margin.
NIO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.8B | +69% |
| Q1 2026 | $3.8B | +112% |
| Q4 2025 | $5.2B | +76% |
| Q3 2025 | $3.3B | +17% |
| Q2 2025 | $2.9B | +9% |
| Q1 2025 | $1.8B | +21% |
| Q4 2024 | $3B | +15% |
| Q3 2024 | $2.8B | -2.1% |
NIO's revenue has grown year over year for seven quarters in a row: $4.8B last quarter, up 69% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -2.1% | +24 points |
| Q1 2026 | -1.2% | +52 points |
| Q4 2025 | 2.3% | +33 points |
| Q3 2025 | -16% | +12 points |
| Q2 2025 | -26% | +4 points |
| Q1 2025 | -53% | +1.1 points |
| Q4 2024 | -31% | +8.1 points |
| Q3 2024 | -28% | -2.6 points |
NIO's operating margin was −2.1% last quarter, up 24 points from the same quarter a year ago.
DECK Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$79.1M | -$65.2M |
| Q2 2026 | $32.7M | +168% |
| Q1 2026 | $78.8M | +$168.2M |
| Q4 2025 | $1B | -4.7% |
| Q3 2025 | -$13.9M | +$99.5M |
| Q2 2025 | $12.2M | -86% |
| Q1 2025 | -$89.4M | -$45.5M |
| Q4 2024 | $1.1B | +16% |
DECK usually generates cash, though not every quarter: the latest was −$79M, but it generated $1.1B over the past year.
NIO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | +$2.1B |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | +$391.3M |
| Q3 2025 | $0 | $0 |
| Q2 2025 | -$2.1B | +$73.9M |
| Q1 2025 | $0 | $0 |
| Q4 2024 | -$391.3M | -386% |
| Q2 2024 | -$2.2B | +$337.9M |
NIO's free cash flow was $0 over the past year, against −$2.5B the year before.
DECK Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -2.4% | -3.3M shares |
| 1 year | -8.4% | -12.4M shares |
| 3 years | -14% | -21.8M shares |
| 5 years | -19% | -32.1M shares |
| Available history | -20% | -34.2M shares |
DECK has the edge over NIO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $299.3M |
| Q2 2026 | $338.2M |
| Q1 2026 | $261.6M |
| Q4 2025 | $348.5M |
| Q3 2025 | $282M |
| Q2 2025 | $183M |
| Q1 2025 | $266M |
| Q4 2024 | $44.7M |
DECK spent $1.2B buying back its own shares over the past year, up 61% from the year before.
NIO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +15.6M shares |
| 1 year | +12% | +267M shares |
| 3 years | +51% | +844M shares |
| 5 years | +60% | +933M shares |
| Available history | +143% | +1.5B shares |
NIO has 2.5B diluted shares, up 12% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
NIO hasn't bought back shares in the past year.
DECK Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.9x | Net Cash |
| Q2 2026 | -1.2x | Net Cash |
| Q1 2026 | -1.4x | Net Cash |
| Q4 2025 | -1.5x | Net Cash |
| Q3 2025 | -1.1x | Net Cash |
| Q2 2025 | -1.3x | Net Cash |
| Q1 2025 | -1.5x | Net Cash |
| Q4 2024 | -1.8x | Net Cash |
DECK has more cash than debt.
NIO Net Leverage
NIO's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
DECK Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.6 | Neutral |
| Stochastic | 30.4 | Neutral |
DECK's weekly RSI is 43 (neutral) and its Stochastic is 30 (neutral).
NIO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.7 | Neutral |
| Stochastic | 6.9 | Oversold |
NIO's weekly RSI is 31 (neutral) and its Stochastic is 7 (oversold).
DECK PE vs Consumer Cyclical Sector
| Metric | DECK | Sector median | Relative |
|---|---|---|---|
| PE | 11x | 18x | 38% below |
| PE % | 1 | 47 | 46 pts below |
DECK is trading at 11x earnings, a 38% discount to the Consumer Cyclical sector's median of 18x.
NIO PE vs Consumer Cyclical Sector
NIO has no meaningful PE right now: it lost money over the past year.
DECK Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $82.6 | 2.3% above |
| 20 week MA | $89.3 | 5.4% below |
| 50 week MA | $99.3 | 15% below |
| 100 week MA | $111.3 | 24% below |
| 200 week MA | $116.1 | 27% below |
DECK has the edge over NIO on trend strength, trading above more of its moving averages.
NIO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.36 | 9.2% below |
| 20 week MA | $4.01 | 24% below |
| 50 week MA | $4.81 | 37% below |
| 100 week MA | $4.85 | 37% below |
| 200 week MA | $6.03 | 49% below |
NIO is in a downtrend: it's below all five of its weekly moving averages, and 49% below its 200-week average.
DECK Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $27.9 | $48.8 | +75% |
| 2021 | $48.8 | $59.4 | +22% |
| 2022 | $59.4 | $65.2 | +9.6% |
| 2023 | $65.2 | $111.4 | +71% |
| 2024 | $111.4 | $207.1 | +86% |
| 2025 | $207.1 | $103.1 | -50% |
| 2026 YTD | $103.1 | $84.5 | -18% |
DECK has the edge over NIO on returns for 2026, with the stronger performance.
NIO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.42 | $45.8 | +1791% |
| 2021 | $45.8 | $30.5 | -33% |
| 2022 | $30.5 | $11.0 | -64% |
| 2023 | $11.0 | $9.07 | -17% |
| 2024 | $9.07 | $4.48 | -51% |
| 2025 | $4.48 | $5.10 | +14% |
| 2026 YTD | $5.10 | $3.05 | -40% |
NIO's yearly returns have swung widely, from +1791% in 2020 to −64% in 2022. It's down 40% so far in 2026.