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Credo Technology Group Holding Ltd (CRDO) 10-Year Financial Performance & Capital Metrics

CRDO • • Industrial / General
TechnologyCommunication EquipmentFiber & Cable ConnectivityCable & Connectivity Infrastructure
AboutCredo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Mexico, Mainland China, Hong Kong, and internationally. Its products include integrated circuits, active electrical cables, and SerDes chiplets that are based on its serializer/deserializer and digital signal processor technologies. The company also offers intellectual property solutions consist of SerDes IP licensing. The company was founded in 2008 and is headquartered in San Jose, California.Show more
  • Revenue $437M +126.3%
  • EBITDA $59M +353.6%
  • Net Income $52M +283.9%
  • EPS (Diluted) 0.29 +261.1%
  • Gross Margin 64.77% +4.7%
  • EBITDA Margin 13.52% +212.1%
  • Operating Margin 8.5% +144.3%
  • Net Margin 11.95% +181.3%
  • ROE 8.54% +233.7%
  • ROIC 5.87% +178.3%
  • Debt/Equity 0.02 -8.4%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y profit CAGR of 108.4%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓Momentum leader: RS Rating 90 (top 10%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 52.0%

✗Weaknesses

  • ✗Shares diluted 16.8% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 39.6x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y52%
3Y60.08%
TTM224.17%

Profit (Net Income) CAGR

10Y-
5Y108.35%
3Y-
TTM990.16%

EPS CAGR

10Y-
5Y73.78%
3Y-
TTM888.38%

ROCE

10Y Avg-6.06%
5Y Avg-7.74%
3Y Avg-2.69%
Latest5.9%

Peer Comparison

Cable & Connectivity Infrastructure
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Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
CRDOCredo Technology Group Holding Ltd26.94B149.12514.21126.34%26.63%16.48%0.11%0.02
BDCBelden Inc.4.78B121.5625.33-2.03%8.57%18.36%4.67%0.97
COMMCommScope Holding Company, Inc.4.23B19.10-10.73-7.87%1.16%5.86%
OCCOptical Cable Corporation37.52M4.23-23.509.55%-1.55%-5.27%2.98%0.12

Profit & Loss

Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Apr 2025
Sales/Revenue+53.84M58.7M106.48M184.19M192.97M436.77M
Revenue Growth %-0.09%0.81%0.73%0.05%1.26%
Cost of Goods Sold+7.73M20.42M42.46M78M73.54M153.87M
COGS % of Revenue0.14%0.35%0.4%0.42%0.38%0.35%
Gross Profit+46.11M38.28M64.02M106.19M119.43M282.91M
Gross Margin %0.86%0.65%0.6%0.58%0.62%0.65%
Gross Profit Growth %--0.17%0.67%0.66%0.12%1.37%
Operating Expenses+44.03M63.51M85.98M127.43M156.49M245.78M
OpEx % of Revenue0.82%1.08%0.81%0.69%0.81%0.56%
Selling, General & Admin16.47M28.67M34.9M48.25M60.19M98.92M
SG&A % of Revenue0.31%0.49%0.33%0.26%0.31%0.23%
Research & Development27.56M34.84M47.95M76.77M95.53M145.99M
R&D % of Revenue0.51%0.59%0.45%0.42%0.5%0.33%
Other Operating Expenses003.13M2.41M765K873K
Operating Income+2.07M-25.23M-21.97M-21.23M-37.06M37.12M
Operating Margin %0.04%-0.43%-0.21%-0.12%-0.19%0.08%
Operating Income Growth %--13.18%0.13%0.03%-0.75%2%
EBITDA+3.88M-23.02M-17.18M-11.72M-23.29M59.06M
EBITDA Margin %0.07%-0.39%-0.16%-0.06%-0.12%0.14%
EBITDA Growth %--6.93%0.25%0.32%-0.99%3.54%
D&A (Non-Cash Add-back)1.81M2.22M4.79M9.51M13.77M21.94M
EBIT2.07M-25.23M-18.83M-18.83M-36.29M38M
Net Interest Income+000000
Interest Income000000
Interest Expense000000
Other Income/Expense24K-62K-245K3.32M14.31M17.75M
Pretax Income+2.1M-25.3M-22.21M-17.91M-22.75M54.87M
Pretax Margin %0.04%-0.43%-0.21%-0.1%-0.12%0.13%
Income Tax+766K2.21M-37K-1.37M5.62M2.69M
Effective Tax Rate %0.63%1.09%1%0.92%1.25%0.95%
Net Income+1.33M-27.51M-22.18M-16.55M-28.37M52.18M
Net Margin %0.02%-0.47%-0.21%-0.09%-0.15%0.12%
Net Income Growth %--21.7%0.19%0.25%-0.71%2.84%
Net Income (Continuing)1.33M-27.51M-22.18M-16.55M-28.37M52.18M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+0.02-0.20-0.15-0.11-0.180.29
EPS Growth %--11.93%0.25%0.27%-0.64%2.61%
EPS (Basic)0.02-0.20-0.16-0.11-0.180.31
Diluted Shares Outstanding72.68M139.95M145.01M146.56M155.09M181.16M
Basic Shares Outstanding72.68M139.95M142.51M146.56M155.09M167.5M
Dividend Payout Ratio------

Balance Sheet

Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Apr 2025
Total Current Assets+95.84M137.8M332.18M328.23M530.26M713.53M
Cash & Short-Term Investments73.91M103.76M259.32M217.81M410M431.34M
Cash Only73.91M103.76M259.32M108.58M66.94M236.33M
Short-Term Investments000109.23M343.06M195.01M
Accounts Receivable18.04M18.21M39.59M58.99M81.22M162.14M
Days Sales Outstanding122.3113.22135.73116.89153.63135.5
Inventory2.28M7.1M27.34M46.02M25.91M90.03M
Days Inventory Outstanding107.48126.99234.99215.36128.59213.57
Other Current Assets248K1.14M1.26M5.41M13.13M27.82M
Total Non-Current Assets+12.2M17.69M43.51M69.06M71.67M95.72M
Property, Plant & Equipment10.69M14.23M38.8M55.08M56.74M78.86M
Fixed Asset Turnover5.04x4.12x2.74x3.34x3.40x5.54x
Goodwill000000
Intangible Assets000000
Long-Term Investments000000
Other Non-Current Assets533K3.43M4.71M13.97M14.93M16.86M
Total Assets+108.04M155.49M375.69M397.29M601.93M809.26M
Asset Turnover0.50x0.38x0.28x0.46x0.32x0.54x
Asset Growth %-0.44%1.42%0.06%0.52%0.34%
Total Current Liabilities+18.57M12.53M26.5M31.03M44.62M107.71M
Accounts Payable2.45M3.59M8.49M6.07M13.42M56.16M
Days Payables Outstanding115.864.1772.9528.3966.59133.22
Short-Term Debt000000
Deferred Revenue (Current)1000K1000K1000K1000K1000K0
Other Current Liabilities9.43M1.55M4.71M6.47M9M17.43M
Current Ratio5.16x11.00x12.54x10.58x11.88x6.62x
Quick Ratio5.04x10.43x11.50x9.09x11.30x5.79x
Cash Conversion Cycle113.99176.03297.76303.86215.63215.85
Total Non-Current Liabilities+98.87M198.39M15.03M18.62M17.11M19.96M
Long-Term Debt000000
Capital Lease Obligations0014.81M12.87M11.13M12.69M
Deferred Tax Liabilities0424K0000
Other Non-Current Liabilities98.87M197.97M220K5.37M5.85M7.27M
Total Liabilities117.45M210.92M41.53M49.65M61.73M127.67M
Total Debt+0017.19M15.5M13.87M16.04M
Net Debt-73.91M-103.76M-242.13M-93.08M-53.07M-220.29M
Debt / Equity--0.05x0.04x0.03x0.02x
Debt / EBITDA-----0.27x
Net Debt / EBITDA-19.03x-----3.73x
Interest Coverage------
Total Equity+-9.41M-55.43M334.16M347.63M540.2M681.58M
Equity Growth %--4.89%7.03%0.04%0.55%0.26%
Book Value per Share-0.13-0.402.302.373.483.76
Total Shareholders' Equity-9.41M-55.43M334.16M347.63M540.2M681.58M
Common Stock4K3K7K7K8K8K
Retained Earnings-18.77M-68.25M-90.43M-106.98M-135.34M-83.16M
Treasury Stock000000
Accumulated OCI-151K227K23K-191K-519K-437K
Minority Interest000000

Cash Flow

Apr 2020Apr 2021Apr 2022Apr 2023Apr 2024Apr 2025
Cash from Operations+-10.25M-42.36M-30.83M-24.61M32.74M65.08M
Operating CF Margin %-0.19%-0.72%-0.29%-0.13%0.17%0.15%
Operating CF Growth %--3.13%0.27%0.2%2.33%0.99%
Net Income1.33M-27.51M-22.18M-16.55M-28.37M52.18M
Depreciation & Amortization1.81M2.22M4.79M9.51M13.77M21.94M
Stock-Based Compensation1.25M2.57M9.19M23.52M39.02M77.36M
Deferred Taxes-76K1.37M0000
Other Non-Cash Items229K-1.37M6.97M9.32M9.04M22.01M
Working Capital Changes-14.79M-19.64M-29.61M-50.42M-731K-108.4M
Change in Receivables-10.55M682K-15.88M-20.02M-10.12M-102.48M
Change in Inventory1.3M-4.83M-21.68M-24.38M15.76M-70.47M
Change in Payables1.01M1.34M4.75M-3.84M8.81M41.93M
Cash from Investing+-8.83M-6.06M-17.58M-130.94M-249.49M111.99M
Capital Expenditures-8.83M-6.06M-17.58M-21.71M-15.65M-36.06M
CapEx % of Revenue0.16%0.1%0.17%0.12%0.08%0.08%
Acquisitions------
Investments------
Other Investing000000
Cash from Financing+61.21M77.89M204.18M4.88M175.28M-7.73M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing721K1.45M2.73M4.88M1.84M-7.73M
Net Change in Cash------
Free Cash Flow+-19.09M-48.42M-48.41M-46.33M17.09M29.02M
FCF Margin %-0.35%-0.82%-0.45%-0.25%0.09%0.07%
FCF Growth %--1.54%0%0.04%1.37%0.7%
FCF per Share-0.26-0.35-0.33-0.320.110.16
FCF Conversion (FCF/Net Income)-7.71x1.54x1.39x1.49x-1.15x1.25x
Interest Paid000000
Taxes Paid595K1.22M427K1.2M1.05M1.45M

Key Ratios

Metric202020212022202320242025
Return on Equity (ROE)---15.91%-4.85%-6.39%8.54%
Return on Invested Capital (ROIC)---17.9%-9.19%-7.49%5.87%
Gross Margin85.64%65.21%60.12%57.65%61.89%64.77%
Net Margin2.47%-46.87%-20.83%-8.98%-14.7%11.95%
Debt / Equity--0.05x0.04x0.03x0.02x
FCF Conversion-7.71x1.54x1.39x1.49x-1.15x1.25x
Revenue Growth-9.03%81.4%72.99%4.76%126.34%

Revenue by Segment

2022202320242025
Product73.72M141.47M145.05M412.18M
Product Growth-91.91%2.53%184.17%
License23.31M29.44M28.02M12.48M
License Growth-26.32%-4.82%-55.48%
Product Engineering Services7.74M10.78M19.9M12.12M
Product Engineering Services Growth-39.26%84.58%-39.08%
IP License Engineering Services1.71M2.5M--
IP License Engineering Services Growth-46.25%--

Revenue by Geography

2022202320242025
HONG KONG11.7M9.65M70.16M243.73M
HONG KONG Growth--17.53%627.37%247.38%
CHINA37.7M96.94M28.26M80.06M
CHINA Growth-157.13%-70.84%183.24%
UNITED STATES27.7M44.25M49.57M65.1M
UNITED STATES Growth-59.78%12.01%31.33%
REST OF THE WORLD19.25M20.26M23.69M44.27M
REST OF THE WORLD Growth-5.28%16.91%86.89%
TAIWAN--21.29M3.62M
TAIWAN Growth----82.97%
MEXICO10.14M13.1M--
MEXICO Growth-29.16%--

Frequently Asked Questions

Growth & Financials

Credo Technology Group Holding Ltd (CRDO) reported $796.1M in revenue for fiscal year 2025. This represents a 1379% increase from $53.8M in 2020.

Credo Technology Group Holding Ltd (CRDO) grew revenue by 126.3% over the past year. This is strong growth.

Yes, Credo Technology Group Holding Ltd (CRDO) is profitable, generating $212.0M in net income for fiscal year 2025 (11.9% net margin).

Dividend & Returns

Credo Technology Group Holding Ltd (CRDO) has a return on equity (ROE) of 8.5%. This is below average, suggesting room for improvement.

Credo Technology Group Holding Ltd (CRDO) generated $143.6M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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