Crocs, Inc. (CROX) 10-Year Financial Performance & Capital Metrics

CROX • • Industrial / General

Consumer CyclicalFootwear & AccessoriesCasual & Lifestyle FootwearCasual Footwear Innovators

AboutCrocs, Inc., together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name. The company sells its products in approximately 85 countries through wholesalers, retail stores, e-commerce sites, and third-party marketplaces. As of December 31, 2021, it had 193 outlet stores, 107 retail stores, 373 company-operated stores, 73 kiosks and store-in-stores, and 14 company-operated e-commerce sites. The company serves in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Crocs, Inc. was founded in 1999 and is headquartered in Broomfield, Colorado.Show more

Revenue $4.1B +3.5%
EBITDA $1.09B -0.8%
Net Income $950M +19.9%
EPS (Diluted) 15.88 +24.2%
Gross Margin 58.76% +6.9%
EBITDA Margin 26.61% -4.2%
Operating Margin 24.91% -5.7%
Net Margin 23.16% +15.8%
ROE 57.76% -17.2%
ROIC 23.02% -4.3%
Debt/Equity 0.93 -32.5%
Interest Coverage 9.35 +44.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 85.8%
✓Strong 5Y profit CAGR of 51.4%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 22.5% free cash flow margin
✓Strong 5Y sales CAGR of 27.2%
✓Share count reduced 3.4% through buybacks

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.1%

5Y27.23%

3Y21.04%

TTM0.01%

Profit (Net Income) CAGR

10Y-

5Y51.38%

3Y9.4%

TTM-78.13%

EPS CAGR

10Y-

5Y56.9%

3Y11.71%

TTM-77.74%

ROCE

10Y Avg22.98%

5Y Avg37.56%

3Y Avg28.74%

Latest25.49%

Peer Comparison

Casual Footwear Innovators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CROXCrocs, Inc.	4.31B	83.01	5.23	3.53%	4.48%	13.39%	21.42%	0.93

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.09B	1.04B	1.02B	1.09B	1.23B	1.39B	2.31B	3.55B	3.96B	4.1B
Revenue Growth %	-0.09%	-0.05%	-0.01%	0.06%	0.13%	0.13%	0.67%	0.54%	0.11%	0.04%
Cost of Goods Sold+	579.83M	536.11M	506.29M	528.05M	613.54M	636M	893.2M	1.69B	1.78B	1.69B
COGS % of Revenue	0.53%	0.52%	0.49%	0.49%	0.5%	0.46%	0.39%	0.48%	0.45%	0.41%
Gross Profit+	510.81M	500.16M	517.22M	560.15M	617.06M	749.95M	1.42B	1.86B	2.18B	2.41B
Gross Margin %	0.47%	0.48%	0.51%	0.51%	0.5%	0.54%	0.61%	0.52%	0.55%	0.59%
Gross Profit Growth %	-0.13%	-0.02%	0.03%	0.08%	0.1%	0.22%	0.89%	0.31%	0.17%	0.11%
Operating Expenses+	559.1M	503.17M	494.6M	497.21M	488.41M	535.82M	737.16M	1.01B	1.13B	1.39B
OpEx % of Revenue	0.51%	0.49%	0.48%	0.46%	0.4%	0.39%	0.32%	0.28%	0.29%	0.34%
Selling, General & Admin	515.31M	463.61M	494.6M	447.78M	457.63M	535.82M	715.89M	929.16M	1.11B	1.29B
SG&A % of Revenue	0.47%	0.45%	0.48%	0.41%	0.37%	0.39%	0.31%	0.26%	0.28%	0.31%
Research & Development	0	0	0	0	0	10.2M	13.7M	18.7M	21.4M	25.6M
R&D % of Revenue	-	-	-	-	-	0.01%	0.01%	0.01%	0.01%	0.01%
Other Operating Expenses	53.81M	27.66M	-13.4M	35.33M	18.97M	-10.2M	7.56M	61.67M	0	71.85M
Operating Income+	-72.32M	-6.15M	17.34M	62.94M	128.65M	214.12M	683.06M	850.76M	1.05B	1.02B
Operating Margin %	-0.07%	-0.01%	0.02%	0.06%	0.1%	0.15%	0.3%	0.24%	0.26%	0.25%
Operating Income Growth %	-14.3%	0.91%	3.82%	2.63%	1.04%	0.66%	2.19%	0.25%	0.23%	-0.02%
EBITDA+	-36.33M	27.89M	50.47M	92.19M	152.86M	241.74M	715.04M	889.99M	1.1B	1.09B
EBITDA Margin %	-0.03%	0.03%	0.05%	0.08%	0.12%	0.17%	0.31%	0.25%	0.28%	0.27%
EBITDA Growth %	-2.11%	1.77%	0.81%	0.83%	0.66%	0.58%	1.96%	0.24%	0.24%	-0.01%
D&A (Non-Cash Add-back)	35.99M	34.04M	33.13M	29.25M	24.21M	27.62M	31.98M	39.23M	54.3M	69.84M
EBIT	-73.78M	-6.38M	19.05M	66.11M	127.96M	213.72M	685.5M	854.67M	1.04B	1.02B
Net Interest Income+	-2K	-144K	1K	326K	-8.04M	-6.53M	-20.87M	-135.14M	-158.94M	-105.78M
Interest Income	967K	692K	870K	1.28M	601K	215K	775K	1.02M	2.41M	3.48M
Interest Expense	969K	836K	869K	955K	8.64M	6.74M	21.65M	136.16M	161.35M	109.26M
Other Income/Expense	-2.42M	-1.06M	844K	2.21M	-9.33M	-7.14M	-19.21M	-132.25M	-170.2M	-111.33M
Pretax Income+	-74.74M	-7.21M	18.18M	65.16M	119.32M	206.98M	663.85M	718.51M	876.27M	910.59M
Pretax Margin %	-0.07%	-0.01%	0.02%	0.06%	0.1%	0.15%	0.29%	0.2%	0.22%	0.22%
Income Tax+	8.45M	9.28M	7.94M	14.72M	-175K	-105.88M	-61.84M	178.35M	83.71M	-39.49M
Effective Tax Rate %	1.11%	2.29%	0.56%	0.77%	1%	1.51%	1.09%	0.75%	0.9%	1.04%
Net Income+	-83.2M	-16.49M	10.24M	50.44M	119.5M	312.86M	725.69M	540.16M	792.57M	950.07M
Net Margin %	-0.08%	-0.02%	0.01%	0.05%	0.1%	0.23%	0.31%	0.15%	0.2%	0.23%
Net Income Growth %	-15.89%	0.8%	1.62%	3.93%	1.37%	1.62%	1.32%	-0.26%	0.47%	0.2%
Net Income (Continuing)	-83.2M	-16.49M	10.24M	50.44M	119.5M	312.86M	725.69M	540.16M	792.57M	950.07M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.30	-0.43	-0.07	-1.01	1.67	4.56	11.39	8.71	12.79	15.88
EPS Growth %	-4.91%	0.67%	0.84%	-13.43%	2.65%	1.73%	1.5%	-0.24%	0.47%	0.24%
EPS (Basic)	-1.30	-0.43	-0.07	-1.01	1.70	4.64	11.62	8.82	12.91	16.00
Diluted Shares Outstanding	75.39M	73.81M	72.25M	68.42M	71.77M	68.54M	63.72M	62.01M	61.95M	59.83M
Basic Shares Outstanding	75.39M	73.37M	72.25M	68.42M	70.36M	67.39M	62.46M	61.22M	61.39M	59.38M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	445.95M	425.48M	425.05M	380.3M	425.38M	492.84M	666.57M	1.03B	910.7M	872.27M
Cash & Short-Term Investments	143.34M	150.1M	174.27M	125.31M	109.75M	137.34M	213.26M	191.63M	149.29M	180.49M
Cash Only	143.34M	150.1M	174.27M	125.31M	109.75M	137.34M	213.26M	191.63M	149.29M	180.49M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	108.08M	95.93M	97.83M	108.37M	118.25M	162.52M	217.18M	329.19M	331.23M	283.91M
Days Sales Outstanding	36.17	33.79	34.89	36.35	35.07	42.8	34.27	33.8	30.51	25.26
Inventory	168.19M	147.03M	130.35M	124.49M	172.03M	175.12M	213.52M	471.55M	385.05M	356.25M
Days Inventory Outstanding	105.88	100.1	93.97	86.05	102.34	100.5	87.25	101.56	78.75	76.86
Other Current Assets	2.55M	2.53M	2.14M	1.95M	1.5M	1.54M	65K	33.61M	45.13M	51.62M
Total Non-Current Assets+	162.07M	140.91M	118.65M	88.6M	313.42M	625.88M	878.5M	3.48B	3.73B	3.94B
Property, Plant & Equipment	49.49M	44.09M	35.03M	22.21M	229.63M	224.89M	269.17M	421.43M	525.75M	551.56M
Fixed Asset Turnover	22.04x	23.50x	29.22x	48.99x	5.36x	6.16x	8.59x	8.44x	7.54x	7.44x
Goodwill	1.97M	1.48M	1.69M	1.61M	1.58M	1.72M	1.6M	714.81M	711.59M	711.49M
Intangible Assets	82.3M	72.7M	56.43M	45.69M	47.09M	37.64M	28.8M	1.8B	1.79B	1.78B
Long-Term Investments	0	2.55M	2.78M	2.22M	2.29M	1.93M	3.66M	3.25M	3.81M	3.19M
Other Non-Current Assets	23.3M	13.27M	12.54M	8.21M	8.07M	8.93M	8.07M	7.87M	31.45M	24.21M
Total Assets+	608.02M	566.39M	543.7M	468.9M	738.8M	1.12B	1.55B	4.5B	4.64B	4.81B
Asset Turnover	1.79x	1.83x	1.88x	2.32x	1.67x	1.24x	1.50x	0.79x	0.85x	0.85x
Asset Growth %	-0.25%	-0.07%	-0.04%	-0.14%	0.58%	0.51%	0.38%	1.91%	0.03%	0.04%
Total Current Liabilities+	167.1M	149.14M	157.02M	184.49M	257.22M	291.58M	388.24M	641.27M	698.3M	740.21M
Accounts Payable	63.34M	61.93M	66.38M	77.23M	95.75M	112.78M	162.15M	230.82M	260.98M	264.9M
Days Payables Outstanding	39.87	42.16	47.86	53.38	56.97	64.72	66.26	49.71	53.37	57.15
Short-Term Debt	4.77M	2.34M	676K	0	48.59M	47.06M	42.93M	81.82M	85.59M	68.55M
Deferred Revenue (Current)	0	0	0	0	0	0	100K	1000K	0	0
Other Current Liabilities	71.6M	57.38M	49.49M	58.2M	66.22M	77.83M	103.84M	177.15M	215.53M	216.8M
Current Ratio	2.67x	2.85x	2.71x	2.06x	1.65x	1.69x	1.72x	1.60x	1.30x	1.18x
Quick Ratio	1.66x	1.87x	1.88x	1.39x	0.98x	1.09x	1.17x	0.86x	0.75x	0.70x
Cash Conversion Cycle	102.18	91.73	81	69.02	80.45	78.58	55.26	85.65	55.89	44.97
Total Non-Current Liabilities+	19.29M	17.97M	18.38M	134.1M	349.67M	536.51M	1.14B	3.04B	2.49B	2.24B
Long-Term Debt	1.63M	40K	0	120M	205M	180M	771.39M	2.3B	1.64B	1.35B
Capital Lease Obligations	0	0	0	0	140.15M	146.4M	149.24M	215.12M	269.77M	283.41M
Deferred Tax Liabilities	0	0	0	0	0	0	176K	302.03M	12.91M	4.09M
Other Non-Current Liabilities	17.67M	17.93M	18.35M	14.1M	4.53M	210.1M	222.12M	227.42M	567.94M	599.38M
Total Liabilities	186.39M	167.11M	175.4M	318.59M	606.9M	828.09M	1.53B	3.68B	3.19B	2.98B
Total Debt+	6.4M	2.38M	676K	120M	393.73M	373.46M	963.56M	2.59B	2B	1.7B
Net Debt	-136.94M	-147.72M	-173.57M	-5.31M	283.98M	236.12M	750.3M	2.4B	1.85B	1.52B
Debt / Equity	0.02x	0.01x	0.00x	0.80x	2.98x	1.29x	68.42x	3.17x	1.37x	0.93x
Debt / EBITDA	-	0.09x	0.01x	1.30x	2.58x	1.54x	1.35x	2.92x	1.81x	1.56x
Net Debt / EBITDA	-	-5.30x	-3.44x	-0.06x	1.86x	0.98x	1.05x	2.70x	1.68x	1.39x
Interest Coverage	-74.64x	-7.36x	19.95x	65.91x	14.90x	31.76x	31.55x	6.25x	6.49x	9.35x
Total Equity+	421.63M	399.28M	368.3M	150.31M	131.91M	290.63M	14.08M	817.93M	1.45B	1.84B
Equity Growth %	-0.33%	-0.05%	-0.08%	-0.59%	-0.12%	1.2%	-0.95%	57.08%	0.78%	0.26%
Book Value per Share	5.59	5.41	5.10	2.20	1.84	4.24	0.22	13.19	23.47	30.68
Total Shareholders' Equity	421.63M	399.28M	368.3M	150.31M	131.91M	290.63M	14.08M	817.93M	1.45B	1.84B
Common Stock	94K	94K	95K	103K	104K	105K	106K	110K	110K	110K
Retained Earnings	227.46M	195.72M	190.43M	121.22M	240.49M	553.35M	1.28B	1.82B	2.61B	3.56B
Treasury Stock	-283.91M	-284.24M	-334.31M	-397.49M	-546.21M	-688.85M	-1.68B	-1.7B	-1.89B	-2.45B
Accumulated OCI	-50.91M	-55.6M	-43.39M	-54.65M	-58.38M	-56.35M	-76.84M	-103.49M	-95.77M	-132.65M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	9.7M	39.75M	98.26M	114.16M	89.96M	266.9M	567.16M	603.14M	930.44M	992.49M
Operating CF Margin %	0.01%	0.04%	0.1%	0.1%	0.07%	0.19%	0.25%	0.17%	0.23%	0.24%
Operating CF Growth %	1.83%	3.1%	1.47%	0.16%	-0.21%	1.97%	1.12%	0.06%	0.54%	0.07%
Net Income	-83.2M	-16.49M	10.24M	50.44M	119.5M	312.86M	725.69M	540.16M	792.57M	950.07M
Depreciation & Amortization	35.99M	34.04M	33.13M	29.25M	24.21M	27.62M	31.98M	39.23M	54.3M	69.84M
Stock-Based Compensation	11.24M	10.74M	9.77M	13.11M	14.41M	16.36M	38.12M	31.3M	29.07M	33.05M
Deferred Taxes	289K	-388K	-3.09M	959K	-16.26M	-325.06M	-241.28M	-4.76M	-410.32M	-254.45M
Other Non-Cash Items	47.63M	-2.15M	3.31M	8.45M	59.39M	102.73M	57.18M	88.89M	98.3M	125.55M
Working Capital Changes	-2.25M	14.01M	44.9M	11.96M	-111.3M	132.39M	-44.53M	-91.68M	366.52M	68.43M
Change in Receivables	-15.6M	2.41M	620K	-24.62M	-15.02M	-47.05M	-35.06M	-56.77M	-13.32M	42.59M
Change in Inventory	-8.59M	20.37M	23.32M	-1.99M	-48.16M	-13.46M	-43.06M	-91.61M	86.35M	22.05M
Change in Payables	23.26M	-1.35M	-2.71M	12.95M	6.03M	23.23M	34.87M	41.7M	37.2M	3.95M
Cash from Investing+	-18.63M	-19.86M	-11.54M	-10.11M	-36.24M	-41.76M	-55.92M	-2.15B	-115.67M	-69.35M
Capital Expenditures	-18.49M	-22.19M	-13.12M	-11.98M	-36.58M	-42.03M	-55.92M	-104.19M	-115.63M	-69.35M
CapEx % of Revenue	0.02%	0.02%	0.01%	0.01%	0.03%	0.03%	0.02%	0.03%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-139K	2.34M	1.58M	1.87M	340K	-192K	-15K	-20K	-46K	0
Cash from Financing+	-101.26M	-16.44M	-65.37M	-148.8M	-68.64M	-198.04M	-429.64M	1.53B	-859.64M	-886.05M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-11.9M	-12M	-12M	-21.02M	-2.98M	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.86M	-818K	-259K	-270K	-1.94M	854K	-14.52M	-53.48M	-1.74M	-2.11M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-8.79M	17.56M	85.15M	102.18M	53.38M	224.87M	511.25M	498.95M	814.82M	923.14M
FCF Margin %	-0.01%	0.02%	0.08%	0.09%	0.04%	0.16%	0.22%	0.14%	0.21%	0.23%
FCF Growth %	0.87%	3%	3.85%	0.2%	-0.48%	3.21%	1.27%	-0.02%	0.63%	0.13%
FCF per Share	-0.12	0.24	1.18	1.49	0.74	3.28	8.02	8.05	13.15	15.43
FCF Conversion (FCF/Net Income)	-0.12x	-2.41x	9.60x	2.26x	0.75x	0.85x	0.78x	1.12x	1.17x	1.04x
Interest Paid	917K	653K	434K	462K	7.52M	6.66M	10.21M	127.81M	151.62M	99.46M
Taxes Paid	19.92M	12.34M	13.21M	18.63M	16.05M	20.82M	159.68M	130.08M	179.72M	124.96M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-15.89%	-4.02%	2.67%	19.45%	84.69%	148.09%	476.31%	129.84%	69.77%	57.76%
Return on Invested Capital (ROIC)	-16.59%	-1.72%	5.83%	27.79%	34.41%	34.07%	79.36%	32.02%	24.07%	23.02%
Gross Margin	46.84%	48.27%	50.53%	51.48%	50.14%	54.11%	61.39%	52.33%	54.96%	58.76%
Net Margin	-7.63%	-1.59%	1%	4.63%	9.71%	22.57%	31.37%	15.19%	20%	23.16%
Debt / Equity	0.02x	0.01x	0.00x	0.80x	2.98x	1.29x	68.42x	3.17x	1.37x	0.93x
Interest Coverage	-74.64x	-7.36x	19.95x	65.91x	14.90x	31.76x	31.55x	6.25x	6.49x	9.35x
FCF Conversion	-0.12x	-2.41x	9.60x	2.26x	0.75x	0.85x	0.78x	1.12x	1.17x	1.04x
Revenue Growth	-8.98%	-4.98%	-1.23%	6.32%	13.08%	12.62%	66.92%	53.67%	11.46%	3.53%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Crocs Brand	-	-	-	-	-	-	-	2.66B	3.01B	3.28B
Crocs Brand Growth	-	-	-	-	-	-	-	-	13.31%	8.80%
HEYDUDE Brand	-	-	-	-	-	-	-	895.86M	949.39M	824.14M
HEYDUDE Brand Growth	-	-	-	-	-	-	-	-	5.98%	-13.19%
Sales Channel, Through Intermediary, Wholesale	-	-	-	578.04M	656.23M	692.92M	1.17B	-	-	-
Sales Channel, Through Intermediary, Wholesale Growth	-	-	-	-	13.53%	5.59%	69.44%	-	-	-
Sales Channel, Directly to Consumer	-	-	-	-	-	-	1.14B	-	-	-
Sales Channel, Directly to Consumer Growth	-	-	-	-	-	-	-	-	-	-
Sales Channel, Directly to Consumer, e-Commerce	-	-	-	182.73M	227M	359.02M	-	-	-	-
Sales Channel, Directly to Consumer, e-Commerce Growth	-	-	-	-	24.23%	58.15%	-	-	-	-
Sales Channel, Directly to Consumer, Retail	-	-	-	327.43M	347.36M	334.02M	-	-	-	-
Sales Channel, Directly to Consumer, Retail Growth	-	-	-	-	6.09%	-3.84%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	476.21M	467.01M	480.15M	520.19M	640.51M	863.61M	1.61B	1.64B	2.57B	2.48B
Americas Growth	-	-1.93%	2.81%	8.34%	23.13%	34.83%	86.08%	2.34%	56.49%	-3.55%
Other Geographical Location	-	745K	870K	3.15M	-	-	-	-	1.39B	1.62B
Other Geographical Location Growth	-	-	16.78%	261.49%	-	-	-	-	-	16.65%
EMEA	188.83M	173.44M	172.83M	220.27M	241.95M	243.66M	356.16M	540.53M	-	-
EMEA Growth	-	-8.15%	-0.35%	27.45%	9.84%	0.71%	46.17%	51.77%	-	-
Asia Pacific	424.49M	395.08M	369.67M	344.6M	348.07M	278.51M	350.16M	473.94M	-	-
Asia Pacific Growth	-	-6.93%	-6.43%	-6.78%	1.01%	-19.98%	25.72%	35.35%	-	-

Frequently Asked Questions

Valuation & Price

Crocs, Inc. (CROX) has a price-to-earnings (P/E) ratio of 5.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Crocs, Inc. (CROX) reported $4.07B in revenue for fiscal year 2024. This represents a 307% increase from $1.00B in 2011.

Crocs, Inc. (CROX) grew revenue by 3.5% over the past year. Growth has been modest.

Yes, Crocs, Inc. (CROX) is profitable, generating $182.5M in net income for fiscal year 2024 (23.2% net margin).

Dividend & Returns

Crocs, Inc. (CROX) has a return on equity (ROE) of 57.8%. This is excellent, indicating efficient use of shareholder capital.

Crocs, Inc. (CROX) generated $716.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Crocs, Inc. (CROX) 10-Year Financial Performance & Capital Metrics

CROX • • Industrial / General

Consumer CyclicalFootwear & AccessoriesCasual & Lifestyle FootwearCasual Footwear Innovators

Revenue $4.1B +3.5%
EBITDA $1.09B -0.8%
Net Income $950M +19.9%
EPS (Diluted) 15.88 +24.2%
Gross Margin 58.76% +6.9%
EBITDA Margin 26.61% -4.2%
Operating Margin 24.91% -5.7%
Net Margin 23.16% +15.8%
ROE 57.76% -17.2%
ROIC 23.02% -4.3%
Debt/Equity 0.93 -32.5%
Interest Coverage 9.35 +44.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 85.8%
✓Strong 5Y profit CAGR of 51.4%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 22.5% free cash flow margin
✓Strong 5Y sales CAGR of 27.2%
✓Share count reduced 3.4% through buybacks

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y13.1%

5Y27.23%

3Y21.04%

TTM0.01%

Profit (Net Income) CAGR

10Y-

5Y51.38%

3Y9.4%

TTM-78.13%

EPS CAGR

10Y-

5Y56.9%

3Y11.71%

TTM-77.74%

ROCE

10Y Avg22.98%

5Y Avg37.56%

3Y Avg28.74%

Latest25.49%

Peer Comparison

Casual Footwear Innovators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CROXCrocs, Inc.	4.31B	83.01	5.23	3.53%	4.48%	13.39%	21.42%	0.93

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.09B	1.04B	1.02B	1.09B	1.23B	1.39B	2.31B	3.55B	3.96B	4.1B
Revenue Growth %	-0.09%	-0.05%	-0.01%	0.06%	0.13%	0.13%	0.67%	0.54%	0.11%	0.04%
Cost of Goods Sold+	579.83M	536.11M	506.29M	528.05M	613.54M	636M	893.2M	1.69B	1.78B	1.69B
COGS % of Revenue	0.53%	0.52%	0.49%	0.49%	0.5%	0.46%	0.39%	0.48%	0.45%	0.41%
Gross Profit+	510.81M	500.16M	517.22M	560.15M	617.06M	749.95M	1.42B	1.86B	2.18B	2.41B
Gross Margin %	0.47%	0.48%	0.51%	0.51%	0.5%	0.54%	0.61%	0.52%	0.55%	0.59%
Gross Profit Growth %	-0.13%	-0.02%	0.03%	0.08%	0.1%	0.22%	0.89%	0.31%	0.17%	0.11%
Operating Expenses+	559.1M	503.17M	494.6M	497.21M	488.41M	535.82M	737.16M	1.01B	1.13B	1.39B
OpEx % of Revenue	0.51%	0.49%	0.48%	0.46%	0.4%	0.39%	0.32%	0.28%	0.29%	0.34%
Selling, General & Admin	515.31M	463.61M	494.6M	447.78M	457.63M	535.82M	715.89M	929.16M	1.11B	1.29B
SG&A % of Revenue	0.47%	0.45%	0.48%	0.41%	0.37%	0.39%	0.31%	0.26%	0.28%	0.31%
Research & Development	0	0	0	0	0	10.2M	13.7M	18.7M	21.4M	25.6M
R&D % of Revenue	-	-	-	-	-	0.01%	0.01%	0.01%	0.01%	0.01%
Other Operating Expenses	53.81M	27.66M	-13.4M	35.33M	18.97M	-10.2M	7.56M	61.67M	0	71.85M
Operating Income+	-72.32M	-6.15M	17.34M	62.94M	128.65M	214.12M	683.06M	850.76M	1.05B	1.02B
Operating Margin %	-0.07%	-0.01%	0.02%	0.06%	0.1%	0.15%	0.3%	0.24%	0.26%	0.25%
Operating Income Growth %	-14.3%	0.91%	3.82%	2.63%	1.04%	0.66%	2.19%	0.25%	0.23%	-0.02%
EBITDA+	-36.33M	27.89M	50.47M	92.19M	152.86M	241.74M	715.04M	889.99M	1.1B	1.09B
EBITDA Margin %	-0.03%	0.03%	0.05%	0.08%	0.12%	0.17%	0.31%	0.25%	0.28%	0.27%
EBITDA Growth %	-2.11%	1.77%	0.81%	0.83%	0.66%	0.58%	1.96%	0.24%	0.24%	-0.01%
D&A (Non-Cash Add-back)	35.99M	34.04M	33.13M	29.25M	24.21M	27.62M	31.98M	39.23M	54.3M	69.84M
EBIT	-73.78M	-6.38M	19.05M	66.11M	127.96M	213.72M	685.5M	854.67M	1.04B	1.02B
Net Interest Income+	-2K	-144K	1K	326K	-8.04M	-6.53M	-20.87M	-135.14M	-158.94M	-105.78M
Interest Income	967K	692K	870K	1.28M	601K	215K	775K	1.02M	2.41M	3.48M
Interest Expense	969K	836K	869K	955K	8.64M	6.74M	21.65M	136.16M	161.35M	109.26M
Other Income/Expense	-2.42M	-1.06M	844K	2.21M	-9.33M	-7.14M	-19.21M	-132.25M	-170.2M	-111.33M
Pretax Income+	-74.74M	-7.21M	18.18M	65.16M	119.32M	206.98M	663.85M	718.51M	876.27M	910.59M
Pretax Margin %	-0.07%	-0.01%	0.02%	0.06%	0.1%	0.15%	0.29%	0.2%	0.22%	0.22%
Income Tax+	8.45M	9.28M	7.94M	14.72M	-175K	-105.88M	-61.84M	178.35M	83.71M	-39.49M
Effective Tax Rate %	1.11%	2.29%	0.56%	0.77%	1%	1.51%	1.09%	0.75%	0.9%	1.04%
Net Income+	-83.2M	-16.49M	10.24M	50.44M	119.5M	312.86M	725.69M	540.16M	792.57M	950.07M
Net Margin %	-0.08%	-0.02%	0.01%	0.05%	0.1%	0.23%	0.31%	0.15%	0.2%	0.23%
Net Income Growth %	-15.89%	0.8%	1.62%	3.93%	1.37%	1.62%	1.32%	-0.26%	0.47%	0.2%
Net Income (Continuing)	-83.2M	-16.49M	10.24M	50.44M	119.5M	312.86M	725.69M	540.16M	792.57M	950.07M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.30	-0.43	-0.07	-1.01	1.67	4.56	11.39	8.71	12.79	15.88
EPS Growth %	-4.91%	0.67%	0.84%	-13.43%	2.65%	1.73%	1.5%	-0.24%	0.47%	0.24%
EPS (Basic)	-1.30	-0.43	-0.07	-1.01	1.70	4.64	11.62	8.82	12.91	16.00
Diluted Shares Outstanding	75.39M	73.81M	72.25M	68.42M	71.77M	68.54M	63.72M	62.01M	61.95M	59.83M
Basic Shares Outstanding	75.39M	73.37M	72.25M	68.42M	70.36M	67.39M	62.46M	61.22M	61.39M	59.38M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	445.95M	425.48M	425.05M	380.3M	425.38M	492.84M	666.57M	1.03B	910.7M	872.27M
Cash & Short-Term Investments	143.34M	150.1M	174.27M	125.31M	109.75M	137.34M	213.26M	191.63M	149.29M	180.49M
Cash Only	143.34M	150.1M	174.27M	125.31M	109.75M	137.34M	213.26M	191.63M	149.29M	180.49M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	108.08M	95.93M	97.83M	108.37M	118.25M	162.52M	217.18M	329.19M	331.23M	283.91M
Days Sales Outstanding	36.17	33.79	34.89	36.35	35.07	42.8	34.27	33.8	30.51	25.26
Inventory	168.19M	147.03M	130.35M	124.49M	172.03M	175.12M	213.52M	471.55M	385.05M	356.25M
Days Inventory Outstanding	105.88	100.1	93.97	86.05	102.34	100.5	87.25	101.56	78.75	76.86
Other Current Assets	2.55M	2.53M	2.14M	1.95M	1.5M	1.54M	65K	33.61M	45.13M	51.62M
Total Non-Current Assets+	162.07M	140.91M	118.65M	88.6M	313.42M	625.88M	878.5M	3.48B	3.73B	3.94B
Property, Plant & Equipment	49.49M	44.09M	35.03M	22.21M	229.63M	224.89M	269.17M	421.43M	525.75M	551.56M
Fixed Asset Turnover	22.04x	23.50x	29.22x	48.99x	5.36x	6.16x	8.59x	8.44x	7.54x	7.44x
Goodwill	1.97M	1.48M	1.69M	1.61M	1.58M	1.72M	1.6M	714.81M	711.59M	711.49M
Intangible Assets	82.3M	72.7M	56.43M	45.69M	47.09M	37.64M	28.8M	1.8B	1.79B	1.78B
Long-Term Investments	0	2.55M	2.78M	2.22M	2.29M	1.93M	3.66M	3.25M	3.81M	3.19M
Other Non-Current Assets	23.3M	13.27M	12.54M	8.21M	8.07M	8.93M	8.07M	7.87M	31.45M	24.21M
Total Assets+	608.02M	566.39M	543.7M	468.9M	738.8M	1.12B	1.55B	4.5B	4.64B	4.81B
Asset Turnover	1.79x	1.83x	1.88x	2.32x	1.67x	1.24x	1.50x	0.79x	0.85x	0.85x
Asset Growth %	-0.25%	-0.07%	-0.04%	-0.14%	0.58%	0.51%	0.38%	1.91%	0.03%	0.04%
Total Current Liabilities+	167.1M	149.14M	157.02M	184.49M	257.22M	291.58M	388.24M	641.27M	698.3M	740.21M
Accounts Payable	63.34M	61.93M	66.38M	77.23M	95.75M	112.78M	162.15M	230.82M	260.98M	264.9M
Days Payables Outstanding	39.87	42.16	47.86	53.38	56.97	64.72	66.26	49.71	53.37	57.15
Short-Term Debt	4.77M	2.34M	676K	0	48.59M	47.06M	42.93M	81.82M	85.59M	68.55M
Deferred Revenue (Current)	0	0	0	0	0	0	100K	1000K	0	0
Other Current Liabilities	71.6M	57.38M	49.49M	58.2M	66.22M	77.83M	103.84M	177.15M	215.53M	216.8M
Current Ratio	2.67x	2.85x	2.71x	2.06x	1.65x	1.69x	1.72x	1.60x	1.30x	1.18x
Quick Ratio	1.66x	1.87x	1.88x	1.39x	0.98x	1.09x	1.17x	0.86x	0.75x	0.70x
Cash Conversion Cycle	102.18	91.73	81	69.02	80.45	78.58	55.26	85.65	55.89	44.97
Total Non-Current Liabilities+	19.29M	17.97M	18.38M	134.1M	349.67M	536.51M	1.14B	3.04B	2.49B	2.24B
Long-Term Debt	1.63M	40K	0	120M	205M	180M	771.39M	2.3B	1.64B	1.35B
Capital Lease Obligations	0	0	0	0	140.15M	146.4M	149.24M	215.12M	269.77M	283.41M
Deferred Tax Liabilities	0	0	0	0	0	0	176K	302.03M	12.91M	4.09M
Other Non-Current Liabilities	17.67M	17.93M	18.35M	14.1M	4.53M	210.1M	222.12M	227.42M	567.94M	599.38M
Total Liabilities	186.39M	167.11M	175.4M	318.59M	606.9M	828.09M	1.53B	3.68B	3.19B	2.98B
Total Debt+	6.4M	2.38M	676K	120M	393.73M	373.46M	963.56M	2.59B	2B	1.7B
Net Debt	-136.94M	-147.72M	-173.57M	-5.31M	283.98M	236.12M	750.3M	2.4B	1.85B	1.52B
Debt / Equity	0.02x	0.01x	0.00x	0.80x	2.98x	1.29x	68.42x	3.17x	1.37x	0.93x
Debt / EBITDA	-	0.09x	0.01x	1.30x	2.58x	1.54x	1.35x	2.92x	1.81x	1.56x
Net Debt / EBITDA	-	-5.30x	-3.44x	-0.06x	1.86x	0.98x	1.05x	2.70x	1.68x	1.39x
Interest Coverage	-74.64x	-7.36x	19.95x	65.91x	14.90x	31.76x	31.55x	6.25x	6.49x	9.35x
Total Equity+	421.63M	399.28M	368.3M	150.31M	131.91M	290.63M	14.08M	817.93M	1.45B	1.84B
Equity Growth %	-0.33%	-0.05%	-0.08%	-0.59%	-0.12%	1.2%	-0.95%	57.08%	0.78%	0.26%
Book Value per Share	5.59	5.41	5.10	2.20	1.84	4.24	0.22	13.19	23.47	30.68
Total Shareholders' Equity	421.63M	399.28M	368.3M	150.31M	131.91M	290.63M	14.08M	817.93M	1.45B	1.84B
Common Stock	94K	94K	95K	103K	104K	105K	106K	110K	110K	110K
Retained Earnings	227.46M	195.72M	190.43M	121.22M	240.49M	553.35M	1.28B	1.82B	2.61B	3.56B
Treasury Stock	-283.91M	-284.24M	-334.31M	-397.49M	-546.21M	-688.85M	-1.68B	-1.7B	-1.89B	-2.45B
Accumulated OCI	-50.91M	-55.6M	-43.39M	-54.65M	-58.38M	-56.35M	-76.84M	-103.49M	-95.77M	-132.65M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	9.7M	39.75M	98.26M	114.16M	89.96M	266.9M	567.16M	603.14M	930.44M	992.49M
Operating CF Margin %	0.01%	0.04%	0.1%	0.1%	0.07%	0.19%	0.25%	0.17%	0.23%	0.24%
Operating CF Growth %	1.83%	3.1%	1.47%	0.16%	-0.21%	1.97%	1.12%	0.06%	0.54%	0.07%
Net Income	-83.2M	-16.49M	10.24M	50.44M	119.5M	312.86M	725.69M	540.16M	792.57M	950.07M
Depreciation & Amortization	35.99M	34.04M	33.13M	29.25M	24.21M	27.62M	31.98M	39.23M	54.3M	69.84M
Stock-Based Compensation	11.24M	10.74M	9.77M	13.11M	14.41M	16.36M	38.12M	31.3M	29.07M	33.05M
Deferred Taxes	289K	-388K	-3.09M	959K	-16.26M	-325.06M	-241.28M	-4.76M	-410.32M	-254.45M
Other Non-Cash Items	47.63M	-2.15M	3.31M	8.45M	59.39M	102.73M	57.18M	88.89M	98.3M	125.55M
Working Capital Changes	-2.25M	14.01M	44.9M	11.96M	-111.3M	132.39M	-44.53M	-91.68M	366.52M	68.43M
Change in Receivables	-15.6M	2.41M	620K	-24.62M	-15.02M	-47.05M	-35.06M	-56.77M	-13.32M	42.59M
Change in Inventory	-8.59M	20.37M	23.32M	-1.99M	-48.16M	-13.46M	-43.06M	-91.61M	86.35M	22.05M
Change in Payables	23.26M	-1.35M	-2.71M	12.95M	6.03M	23.23M	34.87M	41.7M	37.2M	3.95M
Cash from Investing+	-18.63M	-19.86M	-11.54M	-10.11M	-36.24M	-41.76M	-55.92M	-2.15B	-115.67M	-69.35M
Capital Expenditures	-18.49M	-22.19M	-13.12M	-11.98M	-36.58M	-42.03M	-55.92M	-104.19M	-115.63M	-69.35M
CapEx % of Revenue	0.02%	0.02%	0.01%	0.01%	0.03%	0.03%	0.02%	0.03%	0.03%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-139K	2.34M	1.58M	1.87M	340K	-192K	-15K	-20K	-46K	0
Cash from Financing+	-101.26M	-16.44M	-65.37M	-148.8M	-68.64M	-198.04M	-429.64M	1.53B	-859.64M	-886.05M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-11.9M	-12M	-12M	-21.02M	-2.98M	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	1.86M	-818K	-259K	-270K	-1.94M	854K	-14.52M	-53.48M	-1.74M	-2.11M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-8.79M	17.56M	85.15M	102.18M	53.38M	224.87M	511.25M	498.95M	814.82M	923.14M
FCF Margin %	-0.01%	0.02%	0.08%	0.09%	0.04%	0.16%	0.22%	0.14%	0.21%	0.23%
FCF Growth %	0.87%	3%	3.85%	0.2%	-0.48%	3.21%	1.27%	-0.02%	0.63%	0.13%
FCF per Share	-0.12	0.24	1.18	1.49	0.74	3.28	8.02	8.05	13.15	15.43
FCF Conversion (FCF/Net Income)	-0.12x	-2.41x	9.60x	2.26x	0.75x	0.85x	0.78x	1.12x	1.17x	1.04x
Interest Paid	917K	653K	434K	462K	7.52M	6.66M	10.21M	127.81M	151.62M	99.46M
Taxes Paid	19.92M	12.34M	13.21M	18.63M	16.05M	20.82M	159.68M	130.08M	179.72M	124.96M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-15.89%	-4.02%	2.67%	19.45%	84.69%	148.09%	476.31%	129.84%	69.77%	57.76%
Return on Invested Capital (ROIC)	-16.59%	-1.72%	5.83%	27.79%	34.41%	34.07%	79.36%	32.02%	24.07%	23.02%
Gross Margin	46.84%	48.27%	50.53%	51.48%	50.14%	54.11%	61.39%	52.33%	54.96%	58.76%
Net Margin	-7.63%	-1.59%	1%	4.63%	9.71%	22.57%	31.37%	15.19%	20%	23.16%
Debt / Equity	0.02x	0.01x	0.00x	0.80x	2.98x	1.29x	68.42x	3.17x	1.37x	0.93x
Interest Coverage	-74.64x	-7.36x	19.95x	65.91x	14.90x	31.76x	31.55x	6.25x	6.49x	9.35x
FCF Conversion	-0.12x	-2.41x	9.60x	2.26x	0.75x	0.85x	0.78x	1.12x	1.17x	1.04x
Revenue Growth	-8.98%	-4.98%	-1.23%	6.32%	13.08%	12.62%	66.92%	53.67%	11.46%	3.53%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Crocs Brand	-	-	-	-	-	-	-	2.66B	3.01B	3.28B
Crocs Brand Growth	-	-	-	-	-	-	-	-	13.31%	8.80%
HEYDUDE Brand	-	-	-	-	-	-	-	895.86M	949.39M	824.14M
HEYDUDE Brand Growth	-	-	-	-	-	-	-	-	5.98%	-13.19%
Sales Channel, Through Intermediary, Wholesale	-	-	-	578.04M	656.23M	692.92M	1.17B	-	-	-
Sales Channel, Through Intermediary, Wholesale Growth	-	-	-	-	13.53%	5.59%	69.44%	-	-	-
Sales Channel, Directly to Consumer	-	-	-	-	-	-	1.14B	-	-	-
Sales Channel, Directly to Consumer Growth	-	-	-	-	-	-	-	-	-	-
Sales Channel, Directly to Consumer, e-Commerce	-	-	-	182.73M	227M	359.02M	-	-	-	-
Sales Channel, Directly to Consumer, e-Commerce Growth	-	-	-	-	24.23%	58.15%	-	-	-	-
Sales Channel, Directly to Consumer, Retail	-	-	-	327.43M	347.36M	334.02M	-	-	-	-
Sales Channel, Directly to Consumer, Retail Growth	-	-	-	-	6.09%	-3.84%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	476.21M	467.01M	480.15M	520.19M	640.51M	863.61M	1.61B	1.64B	2.57B	2.48B
Americas Growth	-	-1.93%	2.81%	8.34%	23.13%	34.83%	86.08%	2.34%	56.49%	-3.55%
Other Geographical Location	-	745K	870K	3.15M	-	-	-	-	1.39B	1.62B
Other Geographical Location Growth	-	-	16.78%	261.49%	-	-	-	-	-	16.65%
EMEA	188.83M	173.44M	172.83M	220.27M	241.95M	243.66M	356.16M	540.53M	-	-
EMEA Growth	-	-8.15%	-0.35%	27.45%	9.84%	0.71%	46.17%	51.77%	-	-
Asia Pacific	424.49M	395.08M	369.67M	344.6M	348.07M	278.51M	350.16M	473.94M	-	-
Asia Pacific Growth	-	-6.93%	-6.43%	-6.78%	1.01%	-19.98%	25.72%	35.35%	-	-

Frequently Asked Questions

Valuation & Price

Crocs, Inc. (CROX) has a price-to-earnings (P/E) ratio of 5.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Crocs, Inc. (CROX) reported $4.07B in revenue for fiscal year 2024. This represents a 307% increase from $1.00B in 2011.

Crocs, Inc. (CROX) grew revenue by 3.5% over the past year. Growth has been modest.

Yes, Crocs, Inc. (CROX) is profitable, generating $182.5M in net income for fiscal year 2024 (23.2% net margin).

Dividend & Returns

Crocs, Inc. (CROX) has a return on equity (ROE) of 57.8%. This is excellent, indicating efficient use of shareholder capital.

Crocs, Inc. (CROX) generated $716.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.