Be patient. But over the next 5 years, company should make approximately 700-800M in cash on top of the 245M already sitting on the books. Of course nobody truly knows the future, but market is supposed to be foward looking and as an investor, it is my job to look foward and predict the future as well and make the best bet.
Based on the fact that UGGS has been around for 35 years and is sitting on record revenues and projecting another double digit increase next year, one would presume another 5 years of reliability should be in store, meaning plenty of cash coming to investors way and providing huge safety to those who are smart and patient at this valuation.
1B is equal to about 35 in cash likely to be on the books. Stock is currently trading at 80. So if for some ridiculous reason we were to sell-off, one has a cushion of about 35/share because that amount will be in cash in 60 months or so.
You have to be forward thinking. That is all one can do. 35 years= pretty reliable brand.