Skechers Usa Financials
Skechers Usa (SKX) reported $9.4B in revenue over the twelve months to Jun 30, 2025, up 12.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Skechers combines margin expansion with falling debt, but heavier inventory investment makes cash conversion more variable.
Between FY2023 and FY2024, gross margin reached53.2% while operating margin reached10.1% ; the limited pass-through indicates that higher operating costs absorbed much of the gross-profit improvement. That pattern coincided with SG&A rising from$2.69B to$3.06B , showing the margin gain was partly consumed by the expense base rather than flowing proportionally to operating profit.
Cash conversion became less dependable: operating cash flow fell from
Long-term debt dropped from
Financial Health Signals
Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Skechers Usa's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Skechers Usa has an operating margin of 10.1%, meaning the company retains $10 of operating profit per $100 of revenue. This strong profitability earns a score of 73/100, reflecting efficient cost management and pricing power. 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 64/100.
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 96/100, 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 57/100. The company can meet its near-term obligations, though with limited headroom.
Skechers Usa has a free cash flow margin of 3.0%, earning a moderate score of 46/100. The company generates positive cash flow after capital investments, but with room for improvement.
Skechers Usa earns a strong 14.9% return on equity (ROE), meaning it generates $15 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 82/100. 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.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Skechers Usa passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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 $41.29 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
Earnings & Revenue
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 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.
Cash & Balance Sheet
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 held $1.1B in cash against $68.5M in long-term debt as of fiscal year 2024, with $2.3B of liabilities due within a year.
Not reported for fiscal year 2024.
Margins & Returns
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.
Capital Allocation
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.
Not reported for fiscal year 2024.
SKX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.4B+1.2% | $2.4B+9.0% | $2.2B-5.8% | $2.3B+8.8% | $2.2B-4.2% | $2.3B+14.8% | $2.0B-3.2% | $2.0B |
| Cost of Revenue | $1.1B-1.6% | $1.2B+11.9% | $1.0B-8.1% | $1.1B+15.6% | $973.2M-9.0% | $1.1B+16.4% | $919.6M-3.5% | $953.0M |
| Gross Profit | $1.3B+3.7% | $1.3B+6.5% | $1.2B-3.7% | $1.2B+3.3% | $1.2B+0.2% | $1.2B+13.5% | $1.0B-2.8% | $1.1B |
| SG&A Expenses | $876.3M+9.0% | $804.2M-1.4% | $815.7M+4.8% | $778.5M+4.9% | $742.0M+2.2% | $726.3M-0.3% | $728.2M+7.0% | $680.4M |
| Operating Income | $173.1M-34.7% | $265.1M+60.2% | $165.5M-29.1% | $233.4M+13.0% | $206.5M-30.9% | $298.8M+129.3% | $130.3M-38.9% | $213.2M |
| Interest Expense | $9.4M+44.6% | $6.5M0.0% | $6.5M+8.3% | $6.0M+27.7% | $4.7M0.0% | $4.7M-16.1% | $5.6M-1.8% | $5.7M |
| Income Tax | $35.9M-44.4% | $64.6M+319.2% | $15.4M-57.2% | $36.0M-10.8% | $40.4M-28.4% | $56.4M+97.2% | $28.6M-28.9% | $40.2M |
| Net Income | $170.5M-15.8% | $202.4M+103.8% | $99.3M-48.6% | $193.2M+37.7% | $140.3M-32.1% | $206.6M+137.0% | $87.2M-40.0% | $145.4M |
| EPS (Diluted) | $1.13-15.7% | $1.34+103.0% | $0.66-47.6% | $1.26+38.5% | $0.91-31.6% | $1.33+137.5% | $0.56-39.8% | $0.93 |
Not reported in any period shown, so not listed: R&D Expenses.
SKX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $9.3B+7.2% | $8.7B+2.3% | $8.5B-2.2% | $8.6B+8.4% | $8.0B+5.4% | $7.6B+0.3% | $7.5B+4.3% | $7.2B |
| Current Assets | $4.9B+8.5% | $4.5B+0.5% | $4.4B-5.3% | $4.7B+10.4% | $4.3B+8.2% | $3.9B-0.6% | $4.0B+4.9% | $3.8B |
| Cash & Equivalents | $1.4B+38.7% | $993.1M-11.1% | $1.1B-17.5% | $1.4B+5.7% | $1.3B+25.5% | $1.0B-14.2% | $1.2B+8.1% | $1.1B |
| Inventory | $1.9B+5.5% | $1.8B-7.6% | $1.9B | N/A | N/A | N/A | $1.5B | N/A |
| Accounts Receivable | $1.1B-8.8% | $1.3B+27.2% | $990.6M-16.6% | $1.2B+15.6% | $1.0B-11.3% | $1.2B+34.6% | $860.3M-7.4% | $929.4M |
| Goodwill | $103.9M+7.9% | $96.3M+2.0% | $94.5M-5.3% | $99.8M-1.4% | $101.2M0.0% | $101.2M0.0% | $101.2M0.0% | $101.2M |
| Total Liabilities | $3.9B+9.2% | $3.6B-1.7% | $3.6B-2.6% | $3.7B+10.9% | $3.4B+11.7% | $3.0B-4.2% | $3.1B+7.2% | $2.9B |
| Current Liabilities | $2.3B+10.1% | $2.1B-6.8% | $2.3B-5.8% | $2.4B+16.3% | $2.1B+25.5% | $1.6B-1.1% | $1.7B+11.2% | $1.5B |
| Long-Term Debt | $88.0M+6.7% | $82.4M+20.4% | $68.5M+38.7% | $49.4M+8.0% | $45.7M-59.4% | $112.5M-53.7% | $242.9M+1.4% | $239.6M |
| Total Equity | $4.8B+5.8% | $4.5B+5.5% | $4.3B-1.9% | $4.4B+3.3% | $4.2B+1.8% | $4.1B+3.2% | $4.0B+1.7% | $4.0B |
| Retained Earnings | $4.8B+3.7% | $4.6B+4.6% | $4.4B+2.3% | $4.3B+4.7% | $4.1B+3.5% | $4.0B+5.4% | $3.8B+2.4% | $3.7B |
SKX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $553.8M+624.3% | -$105.6M-145.4% | $232.7M+685.9% | -$39.7M-107.5% | $532.0M+1514.8% | -$37.6M-112.0% | $312.5M-9.0% | $343.4M |
| Capital Expenditures | $183.6M+24.8% | $147.1M+10.3% | $133.4M+17.1% | $113.9M+1.3% | $112.5M+97.0% | $57.1M-32.8% | $85.0M-6.9% | $91.3M |
| Free Cash Flow | $370.2M+246.5% | -$252.7M-354.5% | $99.3M+164.7% | -$153.6M-136.6% | $419.6M+543.1% | -$94.7M-141.6% | $227.5M-9.8% | $252.1M |
| Investing Cash Flow | -$188.0M-48.0% | -$127.0M+17.7% | -$154.3M-70.1% | -$90.7M+38.7% | -$147.9M-59.8% | -$92.6M+15.1% | -$109.0M-25.8% | -$86.6M |
| Financing Cash Flow | -$11.0M-109.9% | $111.2M+139.5% | -$281.1M-246.9% | $191.4M+259.1% | -$120.3M-176.7% | -$43.5M+62.5% | -$116.1M-109.6% | -$55.4M |
| Share Buybacks | $0 | $0-100.0% | $120.0M+33.3% | $90.0M+50.0% | $60.0M0.0% | $60.0M0.0% | $60.0M+50.0% | $40.0M |
Not reported in any period shown, so not listed: Dividends Paid.
SKX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.3%+1.3pp | 52.0%-1.2pp | 53.3%+1.2pp | 52.1%-2.8pp | 54.9%+2.4pp | 52.5%-0.6pp | 53.1%+0.2pp | 52.9% |
| Operating Margin | 7.1%-3.9pp | 11.0%+3.5pp | 7.5%-2.5pp | 9.9%+0.4pp | 9.6%-3.7pp | 13.3%+6.6pp | 6.6%-3.9pp | 10.5% |
| Net Margin | 7.0%-1.4pp | 8.4%+3.9pp | 4.5%-3.7pp | 8.2%+1.7pp | 6.5%-2.7pp | 9.2%+4.7pp | 4.5%-2.7pp | 7.2% |
| Return on Equity | 3.6%-0.9pp | 4.5%+2.2pp | 2.3%-2.1pp | 4.4%+1.1pp | 3.3%-1.7pp | 5.0%+2.8pp | 2.2%-1.5pp | 3.7% |
| Return on Assets | 1.8%-0.5pp | 2.3%+1.2pp | 1.2%-1.1pp | 2.2%+0.5pp | 1.8%-1.0pp | 2.7%+1.6pp | 1.2%-0.9pp | 2.0% |
| Current Ratio | 2.090.0x | 2.13+0.2x | 1.970.0x | 1.96-0.1x | 2.06-0.3x | 2.390.0x | 2.38-0.1x | 2.52 |
| Debt-to-Equity | 0.020.0x | 0.020.0x | 0.020.0x | 0.010.0x | 0.010.0x | 0.030.0x | 0.060.0x | 0.06 |
| FCF Margin | 15.2%+25.7pp | -10.5%-15.0pp | 4.5%+11.0pp | -6.5%-26.0pp | 19.4%+23.7pp | -4.2%-15.8pp | 11.6%-0.8pp | 12.4% |
Similar Companies
Where Skechers Usa Ranks
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 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.
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 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 41.29x, 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 70 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.