Deckers Outdoor Corporation

Uh, let's see.

N-next week, GE, General Motors, 3M, Capital One, Netflix, uh, Thermo, Lam Research, Meta, SAP, Tesla, Texas Instruments, United Rentals, Honeywell in the Dow, Blackstone, Procter & Gamble in the Dow, Spotify, Tractor Supply, Union Pacific, Deckers Outdoor, Western Digital, Whirlpool, Exxon, Chevron.

Did I say that? American Express in the Dow.

And the week after, a few companies called Apple, Amazon, Google, and a few others.

It was, like, amazing.

[laughs] So very similar to, like, what Deckers is now.

Yeah.

Right? Yeah.

Where'd you go?

Uh, before K-Swiss, actually before, before AND1...

Oh, yeah, after AND1 I went to, to Deckers.

Mm.

That's why Home Depot was down 19% for the quarter.

It's why Deckers Outdoor was down 21%, and the war also hurt the cruise lines with Norwegian Cruise down 31% for the quarter.

Industrials.

This sector is kind of a pocket play on AI.

I'll start things off on, where do we start? Oh, I start off with return on equity.

This is basically how is this company taking its equity and getting a return on it? 42.6% for Deckers, 42.3% for Crocs.

So Deckers and Crocs are making the most use out of their equity.

They're getting a better rate of return for their shareholders by a wide margin.

Nike is only 21.6%.

So Deckers is double.

what Nike is getting you from an ROE perspective.

Next is ROIC, return on investment capital.

...

Deckers Outdoor, those stocks are down as well, but they're growing.

Right.

Does that make...