We’ve recently updated our valuation analysis.

Skechers U.S.A Valuation

Is SKX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

[object Object] Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SKX?

Other financial metrics that can be useful for relative valuation.

SKX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.1x
Enterprise Value/EBITDA11.4x
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does SKX's PE Ratio compare to its peers?

The above table shows the PE ratio for SKX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average12.8x
DECK Deckers Outdoor
23x12.6%US$10.3b
CROX Crocs
11.5x9.5%US$6.4b
SHOO Steven Madden
10.9x3.7%US$2.7b
WWW Wolverine World Wide
5.6x1.2%US$877.3m
SKX Skechers U.S.A
9.6x12.5%US$6.7b

Price-To-Earnings vs Peers: SKX is good value based on its Price-To-Earnings Ratio (9.6x) compared to the peer average (12.8x).


Price to Earnings Ratio vs Industry

How does SKX's PE Ratio compare vs other companies in the US Luxury Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a16.0%
n/an/an/a

Price-To-Earnings vs Industry: SKX is good value based on its Price-To-Earnings Ratio (9.6x) compared to the US Luxury industry average (10.8x)


Price to Earnings Ratio vs Fair Ratio

What is SKX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SKX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.6x
Fair PE Ratio11.6x

Price-To-Earnings vs Fair Ratio: SKX is good value based on its Price-To-Earnings Ratio (9.6x) compared to the estimated Fair Price-To-Earnings Ratio (11.6x).


Share Price vs Fair Value

What is the Fair Price of SKX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SKX ($43.23) is trading above our estimate of fair value ($27.51)

Significantly Below Fair Value: SKX is trading above our estimate of fair value.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SKX forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$43.23
US$45.43
+5.1%
12.7%US$54.00US$31.00n/a12
Nov ’23US$35.23
US$44.52
+26.4%
14.5%US$54.00US$31.00n/a12
Oct ’23US$31.72
US$50.02
+57.7%
15.0%US$60.00US$37.00n/a11
Sep ’23US$37.53
US$50.11
+33.5%
14.8%US$60.00US$37.00n/a11
Aug ’23US$38.29
US$51.27
+33.9%
16.0%US$65.00US$37.00n/a12
Jul ’23US$35.29
US$58.38
+65.4%
16.7%US$70.00US$40.00n/a11
Jun ’23US$39.25
US$60.42
+53.9%
14.6%US$71.00US$40.00n/a12
May ’23US$38.30
US$61.75
+61.2%
13.0%US$77.00US$48.00n/a12
Apr ’23US$40.91
US$62.00
+51.6%
13.1%US$77.00US$48.00n/a12
Mar ’23US$41.51
US$62.50
+50.6%
11.8%US$77.00US$50.00n/a12
Feb ’23US$42.46
US$61.33
+44.4%
10.4%US$72.00US$50.00n/a12
Jan ’23US$43.40
US$61.96
+42.8%
10.7%US$72.00US$47.00n/a12
Dec ’22US$44.58
US$61.96
+39.0%
10.7%US$72.00US$47.00US$42.9812
Nov ’22US$47.79
US$61.96
+29.6%
10.7%US$72.00US$47.00US$35.2312
Oct ’22US$42.49
US$65.50
+54.2%
9.0%US$76.00US$57.00US$31.7211
Sep ’22US$50.21
US$65.45
+30.3%
9.1%US$76.00US$57.00US$37.5311
Aug ’22US$53.68
US$65.49
+22.0%
9.5%US$76.00US$57.00US$38.2910
Jul ’22US$50.85
US$58.29
+14.6%
11.2%US$70.00US$50.00US$35.2910
Jun ’22US$47.34
US$57.99
+22.5%
10.4%US$69.00US$50.00US$39.2510
May ’22US$48.49
US$56.00
+15.5%
9.2%US$67.00US$50.00US$38.309
Apr ’22US$41.58
US$45.36
+9.1%
12.8%US$56.00US$39.00US$40.9111
Mar ’22US$38.95
US$43.73
+12.3%
13.2%US$52.00US$32.00US$41.5111
Feb ’22US$34.51
US$43.82
+27.0%
9.1%US$52.00US$39.00US$42.4611
Jan ’22US$35.94
US$41.23
+14.7%
11.4%US$52.00US$35.00US$43.4013
Dec ’21US$33.71
US$40.07
+18.9%
10.6%US$52.00US$35.00US$44.5814

Analyst Forecast: Target price is less than 20% higher than the current share price.


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