Crocs, Inc. (CROX) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$4.35	$4.55	+4.6%	—	$1.2B	—
Q1 26	$2.79	$2.99	+7.2%	—	$921.5M	—
Q4 25	$1.91	$2.29	+19.9%	—	$957.6M	—
Q3 25	$2.36	$2.92	+23.7%	—	$996.3M	—
Q2 25	$4.02	$4.23	+5.2%	—	$1.1B	—
Q1 25	$2.49	$3	+20.5%	—	$937.3M	—
Q4 24	$2.26	$2.52	+11.5%	—	$989.8M	—
Q3 24	$3.11	$3.6	+15.8%	—	$1.1B	—
Q2 24	$3.57	$4.01	+12.3%	—	$1.1B	—
Q1 24	$2.25	$3.02	+34.2%	—	$938.6M	—
Q4 23	$2.37	$2.58	+8.9%	—	$960.1M	—
Q3 23	$3.13	$3.25	+3.8%	—	$1B	—
Q2 23	$2.98	$3.59	+20.5%	—	$1.1B	—
Q1 23	$2.16	$2.61	+20.8%	—	$884.2M	—
Q4 22	$2.26	$2.65	+17.3%	—	$945.2M	—
Q3 22	$2.61	$2.97	+13.8%	—	$985.1M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$1.5	—	—	$4B	—
FY24	—	$16	—	—	$4.1B	—
FY23	—	$12.9	—	—	$4B	—
FY22	—	$8.82	—	—	$3.6B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1B	$1B	$1.1B	$1.2B	$1.4B	$2.3B	$3.6B	$4B	$4.1B	$4B
YoY change	-4.98%	-1.23%	+6.32%	+13.1%	+12.6%	+66.9%	+53.7%	+11.5%	+3.53%	-1.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1B	1B	1.1B	1.2B	1.4B	2.3B	3.6B	4B	4.1B	4B
Cost of revenue	536.1M	506.3M	528.1M	613.5M	636M	893.2M	1.7B	1.8B	1.7B	1.7B
Gross profit	500.2M	517.2M	560.2M	617.1M	749.9M	1.4B	1.9B	2.2B	2.4B	2.4B
Gross margin	48.3%	50.5%	51.5%	50.1%	54.1%	61.4%	52.3%	55.8%	58.8%	58.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	503.2M	494.6M	495M	488.4M	514.8M	737.2M	1B	1.2B	1.3B	1.4B
Operating expenses	503.2M	494.6M	495M	488.4M	514.8M	737.2M	1B	1.2B	1.3B	1.4B
Operating income	-3M	22.6M	65.1M	128.6M	235.2M	683.1M	850.8M	1B	1B	887.6M
Operating margin	-0.29%	2.21%	5.98%	10.5%	17%	29.5%	23.9%	26.4%	24.9%	22%
Non-operating income, net	-4.1M	-4.4M	-295K	-1.3M	-21.7M	1.7M	2.9M	-10.9M	-5.5M	-728.2M
Pretax income	-7.2M	18.2M	65.2M	119.3M	207M	663.8M	718.5M	876.3M	910.6M	73M
Income tax	9.3M	7.9M	14.7M	-175K	-105.9M	-61.8M	178.3M	83.7M	-39.5M	154.2M
Net income	-16.5M	10.2M	50.4M	119.5M	312.9M	725.7M	540.2M	792.6M	950.1M	-81.2M
Net margin	-1.59%	1%	4.63%	9.71%	22.6%	31.4%	15.2%	20%	23.2%	-2.01%
EBITDA	33.3M	56.9M	96.2M	153.5M	263.5M	717.6M	890.7M	1.1B	1.1B	968.8M
EPS	-0.43	-0.07	-1.01	1.7	4.64	11.6	8.82	12.9	16	-1.5
Diluted EPS	-0.43	-0.07	-1.01	1.66	4.56	11.4	8.71	12.8	15.9	-1.5

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	1B	960.1M	938.6M	1.1B	1.1B	989.8M	937.3M	1.1B	996.3M	957.6M	921.5M	1.2B
Cost of revenue	464.1M	429.4M	416.6M	429.6M	428.9M	416.8M	395.8M	440.5M	413.3M	434M	398.5M	478.8M
Gross profit	581.6M	530.7M	522.1M	681.9M	633.3M	572.9M	541.5M	708.8M	583M	523.7M	522.9M	700.7M
Gross margin	55.6%	55.3%	55.6%	61.4%	59.6%	57.9%	57.8%	61.7%	58.5%	54.7%	56.8%	59.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	307.8M	311.9M	295.6M	356.2M	363.5M	326.2M	318.6M	398.2M	375.3M	343.4M	322.1M	415M
Operating expenses	307.8M	311.9M	295.6M	356.2M	363.5M	326.2M	318.6M	398.2M	375.3M	343.4M	322.1M	415M
Operating income	273.9M	218.8M	226.4M	325.7M	269.8M	199.9M	223M	310.6M	207.7M	146.4M	200.8M	285.7M
Operating margin	26.2%	22.8%	24.1%	29.3%	25.4%	20.2%	23.8%	27%	20.8%	15.3%	21.8%	24.2%
Non-operating income, net	-1.7M	-9.7M	-2.3M	-1.3M	-95K	-1.9M	4.4M	-737.1M	2.9M	1.5M	-1.9M	-2.4M
Pretax income	233.4M	173.9M	194M	296.4M	244.9M	175.2M	204.9M	-448.6M	189.4M	127.2M	178.8M	263.9M
Income tax	56.4M	-79.7M	41.6M	67.5M	45.1M	-193.7M	44.8M	43.7M	43.6M	22.1M	41.3M	59M
Net income	177M	253.6M	152.5M	228.9M	199.8M	368.9M	160.1M	-492.3M	145.8M	105.2M	137.6M	204.9M
Net margin	16.9%	26.4%	16.2%	20.6%	18.8%	37.3%	17.1%	-42.8%	14.6%	11%	14.9%	17.4%
EBITDA	289.1M	233M	243M	344.5M	289.6M	219.4M	241.4M	331.1M	228.5M	167.9M	221.2M	306.2M
EPS	2.9	4.19	2.52	3.79	3.38	6.4	2.85	-8.82	2.72	2.05	2.74	4.17
Diluted EPS	2.87	4.16	2.5	3.77	3.36	6.36	2.83	-8.82	2.7	2.03	2.71	4.13

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	506.3M	913.3M	1.8B	2.9B	4.2B	8B	6.6B	5.7B	6.5B	4.6B	5.9B
Enterprise value	361.1M	741.8M	1.8B	3.2B	4.5B	8.8B	9B	7.6B	8B	6.1B	7.6B
Shares outstanding	73.8M	72.3M	68.4M	70.4M	67.4M	62.5M	61.2M	61.4M	59.4M	54.2M	54.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	89.2	35.2	24.7	13.5	11	12.3	7.23	6.85	—	11.2
P/S	0.49	0.89	1.63	2.39	3.05	3.46	1.87	1.45	1.59	1.15	1.49
P/B	1.27	2.48	11.8	22.3	14.5	568.7	8.12	3.94	3.54	3.58	4.39
EV/EBITDA	10.9	13	18.4	21.1	16.9	12.2	10.2	6.88	7.32	6.32	8.17
EV/Sales	0.35	0.72	1.63	2.63	3.22	3.79	2.54	1.91	1.96	1.51	1.87
Earnings yield	—	1.12%	2.84%	4.05%	7.41%	9.06%	8.14%	13.8%	14.6%	—	8.93%
FCF yield	3.47%	9.32%	5.75%	1.81%	5.33%	6.38%	7.52%	14.2%	14.2%	14.2%	9.1%
PEG	—	—	—	—	—	—	—	—	—	—	-0.08

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	48.3%	50.5%	51.5%	50.1%	54.1%	61.4%	52.3%	55.8%	58.8%	58.3%	59.4%
Operating margin	-0.29%	2.21%	5.98%	10.5%	17%	29.5%	23.9%	26.4%	24.9%	22%	24.2%
Net margin	-1.59%	1%	4.63%	9.71%	22.6%	31.4%	15.2%	20%	23.2%	-2.01%	14.6%
ROE	-4.13%	2.78%	33.6%	90.6%	107.6%	5.2K%	66%	54.5%	51.8%	-6.28%	42.3%
ROA	-2.91%	1.88%	10.8%	16.2%	28%	47%	12%	17.1%	19.7%	-1.94%	12%
ROIC	-1.18%	6.47%	34.3%	30.8%	44.5%	89.4%	19.9%	28.7%	30.4%	0%	22.6%
Return on tangible assets	-3.95%	2.4%	13.5%	18.6%	30.1%	48.9%	-102.3%	-217.5%	-575.8%	-11.3%	65.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.85	2.71	2.06	1.65	1.69	1.72	1.6	1.3	1.18	1.27	1.49
Quick ratio	1.87	1.88	1.39	0.98	1.09	1.17	0.86	0.75	0.7	0.74	0.96
Debt / equity	0.01	0	0.8	2.98	1.29	68.4	3.17	1.37	0.93	1.25	1.22
Debt / assets	0	0	0.26	0.53	0.33	0.62	0.58	0.43	0.35	0.39	0.39
Net debt / EBITDA	-4.36	-3.01	-0.03	1.86	0.9	1.05	2.7	1.68	1.39	1.53	1.64
Interest coverage	-7.63	21.9	69.2	14.8	31.7	31.7	6.28	6.43	9.33	1.83	10.1
Effective tax rate	0%	43.7%	22.6%	0%	0%	0%	24.8%	9.55%	0%	100%	21.9%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	14	14.2	15.9	17.5	20.6	37	58.1	64.5	69.1	74.5	79.4
EPS (basic)	-0.43	-0.07	-1.01	1.7	4.64	11.6	8.82	12.9	16	-1.5	-1.5
EPS (diluted)	-0.43	-0.07	-1.01	1.66	4.56	11.4	8.71	12.8	15.9	-1.5	11.3
Book value per share	5.41	5.1	2.2	1.87	4.31	0.23	13.4	23.7	30.9	23.9	28.8
FCF per share	0.24	1.18	1.49	0.76	3.34	8.18	8.15	13.3	15.5	12.2	14.2
Cash per share	2	2.38	1.8	1.54	2.02	3.41	3.13	2.43	3.04	2.4	3.55
Capex per share	0.27	0.16	0.15	0.51	0.62	0.9	1.7	1.88	1.17	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.91%	1.13%	0.93%	2.92%	3%	2.42%	2.93%	2.92%	1.69%	—	—
Capex / operating cash flow	45.4%	16.7%	12.7%	242.5%	27.4%	10.4%	18.3%	12.8%	7.15%	—	—
Payout ratio	-72.8%	117.2%	41.7%	2.5%	0%	0%	—	—	—	—	0%
Dividend yield	2.37%	1.31%	1.18%	0.1%	0%	0%	—	—	—	—	—

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$1B	$960.1M	$938.6M	$1.1B	$1.1B	$989.8M	$937.3M	$1.1B	$996.3M	$957.6M	$921.5M	$1.2B
YoY change	+6.15%	+1.58%	+6.16%	+3.65%	+1.58%	+3.09%	-0.14%	+3.41%	-6.2%	-3.25%	-1.69%	+2.62%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	147.6M	172.1M	123.4M	108.3M	135.8M	213.2M	191.6M	149.3M	180.5M	130.4M
Receivables	78.3M	83.5M	97.6M	108.2M	149.8M	182.6M	295.6M	305.7M	257.7M	278.2M
Inventory	147M	130.3M	124.5M	172M	175.1M	213.5M	471.6M	385.1M	356.3M	368.7M
Total current assets	425.5M	425M	380.3M	425.4M	492.8M	666.6M	1B	910.7M	872.3M	885.9M
Property, plant & equipment	44.1M	35M	22.2M	229.6M	224.9M	269.2M	421.4M	525.8M	551.6M	576.9M
Goodwill & intangibles	148.4M	116.2M	94.6M	97.3M	78.7M	60.8M	5B	5B	5B	3.5B
Total assets	566.4M	543.7M	468.9M	738.8M	1.1B	1.5B	4.5B	4.6B	4.8B	4.2B
Accounts payable	61.9M	66.4M	77.2M	95.8M	112.8M	162.1M	230.8M	261M	264.9M	266.1M
Short-term debt	2.3M	662K	—	48.6M	47.1M	42.9M	81.8M	85.6M	68.6M	85.8M
Total current liabilities	149.1M	157M	184.5M	257.2M	291.6M	388.2M	641.3M	698.3M	740.2M	700.1M
Long-term debt	40K	—	120M	345.1M	326.4M	920.6M	2.5B	1.9B	1.6B	1.5B
Total liabilities	167.1M	175.4M	318.6M	606.9M	828.1M	1.5B	3.7B	3.2B	3B	2.9B
Shareholders' equity	399.3M	368.3M	150.3M	131.9M	290.6M	14.1M	817.9M	1.5B	1.8B	1.3B
Total debt	2.4M	662K	120M	393.7M	373.5M	963.6M	2.6B	2B	1.7B	1.6B
Net debt	-145.2M	-171.5M	-3.4M	285.5M	237.7M	750.4M	2.4B	1.8B	1.5B	1.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	127.3M	149.3M	159.3M	167.7M	186.1M	180.5M	166.5M	200.6M	154M	130.4M	130.9M	170.3M
Receivables	391.2M	305.7M	481.5M	420.2M	361.7M	257.7M	445.7M	417.4M	335.3M	278.2M	442.3M	430.3M
Inventory	390.2M	385.1M	392M	376.6M	367.2M	356.3M	391.3M	405.1M	397.1M	368.7M	397.6M	389.2M
Total current assets	979.2M	910.7M	1.1B	1B	990.4M	872.3M	1.1B	1.1B	971.2M	885.9M	1.1B	1.1B
Property, plant & equipment	536.7M	525.8M	523M	536.2M	547.1M	551.6M	581.6M	598.4M	585.2M	576.9M	582M	583.6M
Goodwill & intangibles	5B	5B	5B	5B	5B	5B	5B	3.5B	3.5B	3.5B	3.5B	3.4B
Total assets	4.6B	4.6B	4.8B	4.7B	4.7B	4.8B	5.1B	4.5B	4.3B	4.2B	4.3B	4.4B
Accounts payable	209.9M	261M	236.3M	244.9M	240.9M	264.9M	244.9M	263.3M	217.3M	266.1M	242.5M	262.5M
Short-term debt	81.1M	85.6M	62.8M	63.9M	66.9M	68.6M	77.7M	82.9M	84.3M	85.8M	93.8M	90.1M
Total current liabilities	647.9M	698.3M	628.6M	686.4M	692.5M	740.2M	705.2M	714.8M	691.7M	700.1M	639.5M	728M
Long-term debt	2.2B	1.9B	2B	1.8B	1.7B	1.6B	1.8B	1.7B	1.6B	1.5B	1.6B	1.6B
Total liabilities	3.4B	3.2B	3.2B	3.1B	3B	3B	3.1B	3B	2.9B	2.9B	2.9B	3B
Shareholders' equity	1.2B	1.5B	1.6B	1.7B	1.7B	1.8B	2B	1.4B	1.4B	1.3B	1.4B	1.4B
Total debt	2.3B	2B	2.1B	1.9B	1.8B	1.7B	1.9B	1.8B	1.7B	1.6B	1.7B	1.7B
Net debt	2.2B	1.8B	1.9B	1.7B	1.6B	1.5B	1.7B	1.6B	1.6B	1.5B	1.6B	1.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-16.5M	10.2M	50.4M	119.5M	312.9M	725.7M	540.2M	792.6M	950.1M	-81.2M
Depreciation & amortization	34M	33.1M	29.3M	24.2M	27.6M	32M	39.2M	54.3M	69.8M	79.3M
Stock-based compensation	10.7M	9.8M	13.1M	14.4M	16.4M	38.1M	31.3M	29.1M	33.1M	36.7M
Change in working capital	15.7M	20.5M	-15.8M	-184.9M	43.8M	-76.8M	-115.9M	351.7M	72.4M	-198.7M
Operating cash flow	43.5M	69M	79.9M	14.8M	151.5M	537.2M	568.8M	902.3M	970M	710.4M
Capital expenditure	-19.8M	-11.5M	-10.1M	-36M	-41.6M	-55.9M	-104.2M	-115.6M	-69.3M	—
Investing cash flow	-19.9M	-11M	-10.1M	-36.2M	-41.8M	-55.9M	-2.2B	-115.7M	-69.3M	—
Dividends paid	-12M	-12M	-21M	-3M	0	0	—	—	—	—
Share repurchases	0	-50M	-246.9M	-148.7M	-173.9M	-1B	-11.5M	-192.1M	-560.7M	-586.6M
Financing cash flow	-16M	-65.4M	-148.8M	-68.6M	-198M	-429.6M	1.5B	-859.6M	-886M	-714.6M
Net change in cash	7.6M	-7.4M	-79M	-90M	-88.3M	51.7M	-52.6M	-73M	14.6M	-4.1M
Free cash flow	17.6M	85.1M	102.2M	53.4M	224.9M	511.2M	499M	814.8M	923.1M	659.2M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	177M	253.6M	152.5M	228.9M	199.8M	368.9M	160.1M	-492.3M	145.8M	105.2M	137.6M	204.9M
Depreciation & amortization	14.8M	13.8M	16.2M	17.5M	18.2M	17.9M	18.5M	19.5M	20.3M	20.9M	20.2M	20M
Stock-based compensation	7.7M	5.6M	7.6M	10.2M	6.6M	8.7M	8.8M	11.3M	8.5M	8.2M	10.6M	14.2M
Change in working capital	22.1M	407.5M	-252.2M	107.6M	54.7M	162.3M	-295.6M	-9.8M	42.3M	64.4M	-266M	82.1M
Operating cash flow	248.4M	701.2M	-43.8M	398.1M	315.4M	568.6M	-70.8M	-436.6M	239.3M	252.5M	-80.9M	351.7M
Capital expenditure	-34.7M	-29.2M	-15.8M	-17.1M	-18.1M	-18.5M	-15.4M	-16.6M	—	—	—	—
Investing cash flow	-34.7M	-29.2M	-15.8M	-17.1M	-18.1M	-18.5M	-15.4M	-16.6M	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-155.4M	-25.1M	-5.9M	-175M	-153.5M	-226.3M	-64.2M	-134.1M	-208.2M	-180.2M	-2.5M	-256.9M
Financing cash flow	-246.5M	-301.8M	54.8M	-375M	-263.5M	-302.4M	65.8M	-239.1M	-271.2M	-270.2M	100.1M	-287.5M
Net change in cash	-32.9M	370.2M	-4.7M	6M	33.9M	247.8M	-20.3M	-692.3M	-31.8M	-17.6M	19.2M	64.2M
Free cash flow	215.4M	320.5M	-43.3M	384.2M	278.8M	303.4M	-82.6M	269.2M	226.2M	246.4M	-98.9M	331M

Crocs, Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement