UGG Pure will be 25-30% integrated for full year 2014. So.....for the foreseeable future, cash flow should remain over 130M/year with international growth on its way as well.
130X5=650M or 22/share in cash over the next 4.5 years should be produced on top of the 9 already sitting on the books.
Stock is trading at just 80/share. Little ridiculous.
Out of curiosity, where are you getting the 137M number from?
2012 4th quarter: cash 130M debt 35M
2013 4th quarter: cash 238M debt 9M
Add on 300M in credit facility right now and you add another 9.50/share in cash bringing the total to 40/share in cash over the next 55 months.
Company can give a $3 dollar dividend EASY(3.5% return/year).
Company can buyout some other brand. Company can buyback stock at current prices.
The WORLD is Deck's oyster.