Skechers Usa Financials
This page shows Skechers Usa (SKX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Skechers Usa has an operating margin of 10.1%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 50/100, indicating healthy but not exceptional operating efficiency. This is up from 9.8% the prior year.
Skechers Usa's revenue grew 12.1% year-over-year to $9.0B, a solid pace of expansion. This earns a growth score of 63/100.
Skechers Usa carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Skechers Usa's current ratio of 1.97 indicates adequate short-term liquidity, earning a score of 59/100. The company can meet its near-term obligations, though with limited headroom.
Skechers Usa's free cash flow margin of 3.0% results in a low score of 15/100. Capital expenditures of $416.8M absorb a large share of operating cash flow.
Skechers Usa's ROE of 14.9% shows moderate profitability relative to equity, earning a score of 60/100. This is up from 13.6% the prior year.
Skechers Usa scores 4.03, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Skechers Usa passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Skechers Usa generates $1.07 in operating cash flow ($687.4M OCF vs $639.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Skechers Usa earns $41.3 in operating income for every $1 of interest expense ($904.3M vs $21.9M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Skechers Usa generated $9.0B in revenue in fiscal year 2024. This represents an increase of 12.1% from the prior year.
Skechers Usa's EBITDA was $1.1B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 15.4% from the prior year.
Skechers Usa generated $270.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 70.2% from the prior year.
Skechers Usa reported $639.5M in net income in fiscal year 2024. This represents an increase of 17.2% from the prior year.
Skechers Usa earned $4.16 per diluted share (EPS) in fiscal year 2024. This represents an increase of 19.2% from the prior year.
Skechers Usa held $1.1B in cash against $68.5M in long-term debt as of fiscal year 2024.
Skechers Usa's gross margin was 53.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.
Skechers Usa's operating margin was 10.1% in fiscal year 2024, reflecting core business profitability. This is up 0.3 percentage points from the prior year.
Skechers Usa's net profit margin was 7.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.3 percentage points from the prior year.
Skechers Usa's ROE was 14.9% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.4 percentage points from the prior year.
Skechers Usa spent $330.1M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 106.2% from the prior year.
Skechers Usa invested $416.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 28.8% from the prior year.
SKX Income Statement
| Metric | Q2'25 | Q1'25 | Q2'24 | Q3'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4B+1.2% | $2.4B+9.0% | $2.2B-5.8% | $2.3B+4.3% | $2.3B+14.8% | $2.0B-3.2% | $2.0B+0.6% | $2.0B |
| Cost of Revenue | $1.1B-1.6% | $1.2B+11.9% | $1.0B-8.1% | $1.1B+5.1% | $1.1B+16.4% | $919.6M-3.5% | $953.0M+0.1% | $952.0M |
| Gross Profit | $1.3B+3.7% | $1.3B+6.5% | $1.2B-3.7% | $1.2B+3.5% | $1.2B+13.5% | $1.0B-2.8% | $1.1B+1.1% | $1.1B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $876.3M+9.0% | $804.2M-1.4% | $815.7M+4.8% | $778.5M+7.2% | $726.3M-0.3% | $728.2M+7.0% | $680.4M+3.8% | $655.7M |
| Operating Income | $173.1M-34.7% | $265.1M+60.2% | $165.5M-29.1% | $233.4M-21.9% | $298.8M+129.3% | $130.3M-38.9% | $213.2M-2.1% | $217.7M |
| Interest Expense | $9.4M+44.6% | $6.5M0.0% | $6.5M+8.3% | $6.0M+27.7% | $4.7M-16.1% | $5.6M-1.8% | $5.7M-5.0% | $6.0M |
| Income Tax | $35.9M-44.4% | $64.6M+319.2% | $15.4M-57.2% | $36.0M-36.1% | $56.4M+97.2% | $28.6M-28.9% | $40.2M+3.2% | $38.9M |
| Net Income | $170.5M-15.8% | $202.4M+103.8% | $99.3M-48.6% | $193.2M-6.5% | $206.6M+137.0% | $87.2M-40.0% | $145.4M-4.8% | $152.8M |
| EPS (Diluted) | $1.13-15.7% | $1.34+103.0% | $0.66-47.6% | $1.26-5.3% | $1.33+137.5% | $0.56-39.8% | $0.93-5.1% | $0.98 |
SKX Balance Sheet
| Metric | Q2'25 | Q1'25 | Q2'24 | Q3'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.3B+7.2% | $8.7B+2.3% | $8.5B-2.2% | $8.6B+14.3% | $7.6B+0.3% | $7.5B+4.3% | $7.2B+1.9% | $7.1B |
| Current Assets | $4.9B+8.5% | $4.5B+0.5% | $4.4B-5.3% | $4.7B+19.5% | $3.9B-0.6% | $4.0B+4.9% | $3.8B+2.7% | $3.7B |
| Cash & Equivalents | $1.4B+38.7% | $993.1M-11.1% | $1.1B-17.5% | $1.4B+32.7% | $1.0B-14.2% | $1.2B+8.1% | $1.1B+22.7% | $896.5M |
| Inventory | $1.9B+5.5% | $1.8B-7.6% | $1.9B | N/A | N/A | $1.5B | N/A | N/A |
| Accounts Receivable | $1.1B-8.8% | $1.3B+27.2% | $990.6M-16.6% | $1.2B+2.5% | $1.2B+34.6% | $860.3M-7.4% | $929.4M-1.2% | $940.2M |
| Goodwill | $103.9M+7.9% | $96.3M+2.0% | $94.5M-5.3% | $99.8M-1.4% | $101.2M0.0% | $101.2M0.0% | $101.2M-0.2% | $101.5M |
| Total Liabilities | $3.9B+9.2% | $3.6B-1.7% | $3.6B-2.6% | $3.7B+23.9% | $3.0B-4.2% | $3.1B+7.2% | $2.9B+0.6% | $2.9B |
| Current Liabilities | $2.3B+10.1% | $2.1B-6.8% | $2.3B-5.8% | $2.4B+45.9% | $1.6B-1.1% | $1.7B+11.2% | $1.5B+1.1% | $1.5B |
| Long-Term Debt | $88.0M+6.7% | $82.4M+20.4% | $68.5M+38.7% | $49.4M-56.1% | $112.5M-53.7% | $242.9M+1.4% | $239.6M+1.2% | $236.8M |
| Total Equity | $4.8B+5.8% | $4.5B+5.5% | $4.3B-1.9% | $4.4B+5.1% | $4.1B+3.2% | $4.0B+1.7% | $4.0B+2.9% | $3.8B |
| Retained Earnings | $4.8B+3.7% | $4.6B+4.6% | $4.4B+2.3% | $4.3B+8.3% | $4.0B+5.4% | $3.8B+2.4% | $3.7B+4.1% | $3.6B |
SKX Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q2'24 | Q3'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $553.8M+624.3% | -$105.6M-145.4% | $232.7M+685.9% | -$39.7M-5.6% | -$37.6M-112.0% | $312.5M-9.0% | $343.4M+1.0% | $340.1M |
| Capital Expenditures | $183.6M+24.8% | $147.1M+10.3% | $133.4M+17.1% | $113.9M+99.5% | $57.1M-32.8% | $85.0M-6.9% | $91.3M+19.8% | $76.2M |
| Free Cash Flow | $370.2M+246.5% | -$252.7M-354.5% | $99.3M+164.7% | -$153.6M-62.2% | -$94.7M-141.6% | $227.5M-9.8% | $252.1M-4.5% | $263.9M |
| Investing Cash Flow | -$188.0M-48.0% | -$127.0M+17.7% | -$154.3M-70.1% | -$90.7M+2.0% | -$92.6M+15.1% | -$109.0M-25.8% | -$86.6M+43.6% | -$153.6M |
| Financing Cash Flow | -$11.0M-109.9% | $111.2M+139.5% | -$281.1M-246.9% | $191.4M+540.2% | -$43.5M+62.5% | -$116.1M-109.6% | -$55.4M-11.0% | -$49.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0 | $0-100.0% | $120.0M+33.3% | $90.0M+50.0% | $60.0M0.0% | $60.0M+50.0% | $40.0M+33.3% | $30.0M |
SKX Financial Ratios
| Metric | Q2'25 | Q1'25 | Q2'24 | Q3'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.3%+1.3pp | 52.0%-1.2pp | 53.3%+1.2pp | 52.1%-0.4pp | 52.5%-0.6pp | 53.1%+0.2pp | 52.9%+0.2pp | 52.7% |
| Operating Margin | 7.1%-3.9pp | 11.0%+3.5pp | 7.5%-2.5pp | 9.9%-3.3pp | 13.3%+6.6pp | 6.6%-3.9pp | 10.5%-0.3pp | 10.8% |
| Net Margin | 7.0%-1.4pp | 8.4%+3.9pp | 4.5%-3.7pp | 8.2%-1.0pp | 9.2%+4.7pp | 4.5%-2.7pp | 7.2%-0.4pp | 7.6% |
| Return on Equity | 3.6%-0.9pp | 4.5%+2.2pp | 2.3%-2.1pp | 4.4%-0.5pp | 5.0%+2.8pp | 2.2%-1.5pp | 3.7%-0.3pp | 4.0% |
| Return on Assets | 1.8%-0.5pp | 2.3%+1.2pp | 1.2%-1.1pp | 2.2%-0.5pp | 2.7%+1.6pp | 1.2%-0.9pp | 2.0%-0.1pp | 2.1% |
| Current Ratio | 2.09-0.0 | 2.13+0.2 | 1.97+0.0 | 1.96-0.4 | 2.39+0.0 | 2.38-0.1 | 2.52+0.0 | 2.48 |
| Debt-to-Equity | 0.020.0 | 0.020.0 | 0.020.0 | 0.01-0.0 | 0.03-0.0 | 0.060.0 | 0.060.0 | 0.06 |
| FCF Margin | 15.2%+25.7pp | -10.5%-15.0pp | 4.5%+11.0pp | -6.5%-2.3pp | -4.2%-15.8pp | 11.6%-0.8pp | 12.4%-0.7pp | 13.1% |
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Frequently Asked Questions
What is Skechers Usa's annual revenue?
Skechers Usa (SKX) reported $9.0B in total revenue for fiscal year 2024. This represents a 12.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Skechers Usa's revenue growing?
Skechers Usa (SKX) revenue grew by 12.1% year-over-year, from $8.0B to $9.0B in fiscal year 2024.
Is Skechers Usa profitable?
Yes, Skechers Usa (SKX) reported a net income of $639.5M in fiscal year 2024, with a net profit margin of 7.1%.
What is Skechers Usa's earnings per share (EPS)?
Skechers Usa (SKX) reported diluted earnings per share of $4.16 for fiscal year 2024. This represents a 19.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Skechers Usa's EBITDA?
Skechers Usa (SKX) had EBITDA of $1.1B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Skechers Usa have?
As of fiscal year 2024, Skechers Usa (SKX) had $1.1B in cash and equivalents against $68.5M in long-term debt.
What is Skechers Usa's gross margin?
Skechers Usa (SKX) had a gross margin of 53.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Skechers Usa's operating margin?
Skechers Usa (SKX) had an operating margin of 10.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Skechers Usa's net profit margin?
Skechers Usa (SKX) had a net profit margin of 7.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Skechers Usa's return on equity (ROE)?
Skechers Usa (SKX) has a return on equity of 14.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Skechers Usa's free cash flow?
Skechers Usa (SKX) generated $270.6M in free cash flow during fiscal year 2024. This represents a -70.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Skechers Usa's operating cash flow?
Skechers Usa (SKX) generated $687.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Skechers Usa's total assets?
Skechers Usa (SKX) had $8.5B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Skechers Usa's capital expenditures?
Skechers Usa (SKX) invested $416.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Skechers Usa buy back shares?
Yes, Skechers Usa (SKX) spent $330.1M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
What is Skechers Usa's current ratio?
Skechers Usa (SKX) had a current ratio of 1.97 as of fiscal year 2024, which is generally considered healthy.
What is Skechers Usa's debt-to-equity ratio?
Skechers Usa (SKX) had a debt-to-equity ratio of 0.02 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Skechers Usa's return on assets (ROA)?
Skechers Usa (SKX) had a return on assets of 7.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Skechers Usa's Altman Z-Score?
Skechers Usa (SKX) has an Altman Z-Score of 4.03, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Skechers Usa's Piotroski F-Score?
Skechers Usa (SKX) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Skechers Usa's earnings high quality?
Skechers Usa (SKX) has an earnings quality ratio of 1.07x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Skechers Usa cover its interest payments?
Skechers Usa (SKX) has an interest coverage ratio of 41.3x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Skechers Usa?
Skechers Usa (SKX) scores 58 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.