DBI FY 2023 Earnings Report — Designer Brands Inc. Revenue & Financial Results | Market Cap Arena

Designer Brands Inc.DBI

FY 2023 Earnings

Reported March 25, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$3.1B	—	$3.3B	—	-7.3%
Op. Income	$72M	—	$110M	—	-34.3%
Gross Margin	31.7%	—	32.6%	—	-0.8pp
Net Margin	0.9%	—	4.9%	—	-4.0pp
EPS (Diluted)	$0.46	—	$2.26	—	-79.6%
Free Cash Flow	$107M	—	$146M	—	-26.7%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$2.1B
GROSS PROFIT	$975M
R&D Expenses	$0
Selling & Marketing	$176M
General & Administrative	$1.1B
SG&A Expenses	$1.3B
Other Expenses	$0
Operating Expenses	$902M
Cost & Expenses	$3.0B
OPERATING INCOME	$72M
Interest Income	$0
Interest Expense	$32M
Other Income/Expenses	-$32M
INCOME BEFORE TAX	$40M
Income Tax Expense	$11M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$66M
EBIT	$72M
EBITDA	$139M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$2.1B
GROSS PROFIT	$975M
R&D Expenses	$0
Selling & Marketing	$176M
General & Administrative	$1.1B
SG&A Expenses	$1.3B
Other Expenses	$0
Operating Expenses	$902M
Cost & Expenses	$3.0B
OPERATING INCOME	$72M
Interest Income	$0
Interest Expense	$32M
Other Income/Expenses	-$32M
INCOME BEFORE TAX	$40M
Income Tax Expense	$11M
Net Income from Continuing Ops	$29M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$29M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$29M
D&A	$66M
EBIT	$72M
EBITDA	$139M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$29M
Depreciation & Amortization	$66M
Stock-Based Compensation	$29M
Deferred Income Tax	$9M
Other Non-Cash Items	$6M
Change in Working Capital	$22M
OPERATING CASH FLOW	$162M
Capital Expenditure	-$55M
Acquisitions (Net)	-$127M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$182M
Net Debt Issuance	$153M
Common Stock Repurchased	-$102M
Common Dividends Paid	-$12M
Other Financing Activities	-$28M
NET CASH FROM FINANCING	$10M
FREE CASH FLOW	$107M
Net Change in Cash	-$10M

Balance Sheet

Item	Amount
Cash & Equivalents	$49M
Short-Term Investments	$0
Net Receivables	$84M
Inventory	$571M
Other Current Assets	$73M
TOTAL CURRENT ASSETS	$777M
PP&E (Net)	$941M
Goodwill	$124M
Intangible Assets	$83M
Long-Term Investments	$63M
Tax Assets	$39M
Other Non-Current Assets	$49M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$2.1B
Account Payables	$289M
Short-Term Debt	$7M
Deferred Revenue	$48M
Other Current Liabilities	$39M
TOTAL CURRENT LIABILITIES	$622M
Long-Term Debt	$420M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$25M
TOTAL NON-CURRENT LIABILITIES	$1.1B
TOTAL LIABILITIES	$1.7B
Common Stock	$1.0B
Additional Paid-In Capital	$0
Retained Earnings	$99M
Treasury Stock	-$765M
Accum. Other Comp. Income	-$6M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$359M
Minority Interest	$3M
TOTAL EQUITY	$363M
TOTAL LIABILITIES & EQUITY	$2.1B
Total Debt	$1.2B
Net Debt	$1.2B