Revenue growth remains in a contractionary phase, evidenced by an 11.3% year-over-year decline in 2026Q3 alongside volatile gross margins that bottomed at 18.3% in 2025Q4.
| Metric | TTM | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'04 | Mar'03 | Mar'02 | Mar'01 | Mar'00 | Mar'99 | Mar'98 | Mar'97 |
|---|
| Sales/Revenue | 83.12M | 82.27M | 87.25M | 87.63M | 75.05M | 87.36M | 79.16M | 73.4M | 76.38M | 70.27M | 65.98M | 84.34M | 85.98M | 81.29M | 78.42M | 85.31M | 89.97M | 86.07M | 87.4M | 74.89M | 71.99M | 72.63M | 83.91M | 86.23M | 94.73M | 117.59M | 247.51M | 319.89M | 362.07M | 319.24M | 256.38M |
| Revenue Growth % | -4.74% | -5.71% | -0.44% | 16.76% | -14.09% | 10.35% | 7.86% | -3.91% | 8.7% | 6.51% | -21.77% | -1.9% | 5.76% | 3.67% | -8.08% | -5.18% | 4.54% | -1.52% | 16.71% | 4.03% | -0.88% | -13.44% | -2.69% | -8.98% | -19.44% | -52.49% | -22.63% | -11.65% | 13.42% | 24.52% | 17.07% |
| Cost of Goods Sold | 63.92M | 62.19M | 66.76M | 64.63M | 55.23M | 64.05M | 55.07M | 51.81M | 54.07M | 50.49M | 46.57M | 60.53M | 62.43M | 58.76M | 58.65M | 65.76M | 69.88M | 65.84M | 68.49M | 56.28M | 53.89M | 55.54M | 66.88M | 66.63M | 73.31M | 91.66M | 228.97M | 284.74M | 310.81M | 248.15M | 204.65M |
| COGS % of Revenue | - | 75.59% | 76.51% | 73.75% | 73.58% | 73.32% | 69.56% | 70.58% | 70.8% | 71.85% | 70.58% | 71.77% | 72.61% | 72.28% | 74.79% | 77.09% | 77.67% | 76.5% | 78.36% | 75.15% | 74.86% | 76.47% | 79.71% | 77.28% | 77.39% | 77.95% | 92.51% | 89.01% | 85.84% | 77.73% | 79.82% |
| Gross Profit | 19.2M | 20.08M | 20.49M | 23M | 19.83M | 23.31M | 24.1M | 21.59M | 22.31M | 19.78M | 19.41M | 23.81M | 23.55M | 22.53M | 19.77M | 19.54M | 20.09M | 20.23M | 18.91M | 18.61M | 18.1M | 17.09M | 17.02M | 19.59M | 21.42M | 25.93M | 18.54M | 35.16M | 51.26M | 71.09M | 51.74M |
| Gross Margin % | 23.09% | 24.41% | 23.49% | 26.25% | 26.42% | 26.68% | 30.44% | 29.42% | 29.2% | 28.15% | 29.42% | 28.23% | 27.39% | 27.72% | 25.21% | 22.91% | 22.33% | 23.5% | 21.64% | 24.85% | 25.14% | 23.53% | 20.29% | 22.72% | 22.61% | 22.05% | 7.49% | 10.99% | 14.16% | 22.27% | 20.18% |
| Gross Profit Growth % | - | -2.03% | -10.9% | 16% | -14.93% | -3.27% | 11.61% | -3.21% | 12.78% | 1.9% | -18.49% | 1.12% | 4.51% | 14% | 1.15% | -2.73% | -0.68% | 6.98% | 1.63% | 2.8% | 5.92% | 0.37% | -13.11% | -8.52% | -17.39% | 39.83% | -47.26% | -31.41% | -27.89% | 37.4% | 21.87% |
| Operating Expenses | 32.74M | 18.98M | 16.09M | 16.11M | 12.65M | 13M | 16.45M | 13.85M | 15.19M | 14.27M | 10.71M | 13.03M | 14.33M | 13.16M | 11.67M | 11.39M | 12.46M | 11.47M | 10.95M | 10.7M | 10.23M | 10.05M | 10.79M | 12.16M | 12.7M | 20.91M | 78.1M | 54.71M | 56.48M | 52.1M | 40.1M |
| OpEx % of Revenue | - | 23.07% | 18.44% | 18.38% | 16.86% | 14.88% | 20.78% | 18.87% | 19.89% | 20.31% | 16.23% | 15.44% | 16.67% | 16.18% | 14.89% | 13.35% | 13.85% | 13.33% | 12.53% | 14.29% | 14.21% | 13.83% | 12.86% | 14.1% | 13.4% | 17.78% | 31.55% | 17.1% | 15.6% | 16.32% | 15.64% |
| Selling, General & Admin | 17.49M | 0 | 16.09M | 15.15M | 11.89M | 12.15M | 14.22M | 12.75M | 15.19M | 14.27M | 10.71M | 13.03M | 14.33M | 13.16M | 11.67M | 11.39M | 12.46M | 11.47M | 10.95M | 10.7M | 10.23M | 10.05M | 10.79M | 12.16M | 12.69M | 20.87M | 43.31M | 54.71M | 56.48M | 52.1M | 40.1M |
| SG&A % of Revenue | - | - | 18.44% | 17.29% | 15.84% | 13.91% | 17.96% | 17.37% | 19.89% | 20.31% | 16.23% | 15.44% | 16.67% | 16.18% | 14.89% | 13.35% | 13.85% | 13.33% | 12.53% | 14.29% | 14.21% | 13.83% | 12.86% | 14.1% | 13.39% | 17.75% | 17.5% | 17.1% | 15.6% | 16.32% | 15.64% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 110K | 110K | 110K | 73K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | 0.14% | 0.15% | 0.14% | 0.1% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 1.68M | 18.98M | 0 | 954K | 768K | 849K | 2.12M | 994K | 3K | 0 | 4K | 7K | 7K | -6K | 29K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 11K | 34K | 34.79M | 0 | 0 | 0 | 0 |
| Operating Income | -13.55M | 1.1M | 4.41M | 6.89M | 7.17M | 10.31M | 7.64M | 7.74M | 7.11M | 5.51M | 8.7M | 10.79M | 9.22M | 9.38M | 8.09M | 8.15M | 7.63M | 8.76M | -14.93M | 7.91M | 7.87M | 7.04M | 6.24M | 7.43M | 6.95M | 5.02M | -59.55M | -19.56M | -5.22M | 18.99M | 11.64M |
| Operating Margin % | -16.3% | 1.34% | 5.05% | 7.87% | 9.56% | 11.8% | 9.66% | 10.54% | 9.31% | 7.84% | 13.19% | 12.79% | 10.72% | 11.54% | 10.32% | 9.55% | 8.48% | 10.18% | -17.08% | 10.56% | 10.94% | 9.69% | 7.43% | 8.62% | 7.33% | 4.27% | -24.06% | -6.11% | -1.44% | 5.95% | 4.54% |
| Operating Income Growth % | - | -75.05% | -36.11% | -3.88% | -30.4% | 34.81% | -1.19% | 8.77% | 29.16% | -36.7% | -19.35% | 17.01% | -1.68% | 15.88% | -0.71% | 6.8% | -12.88% | 158.68% | -288.77% | 0.43% | 11.83% | 12.89% | -16.1% | 6.99% | 38.35% | 108.43% | -204.5% | -274.6% | -127.49% | 63.16% | 9.56% |
| EBITDA | -10.82M | 6.56M | 10.5M | 8.33M | 8.34M | 11.47M | 11.07M | 9.2M | 8.59M | 6.68M | 9.63M | 11.85M | 10.28M | 10.44M | 9.09M | 9.47M | 9.11M | 10.59M | -12.9M | 9.04M | 8.34M | 7.52M | 6.69M | 7.97M | 7.67M | 7.05M | -49.08M | -6.22M | 7.43M | 30.18M | 22.06M |
| EBITDA Margin % | -13.02% | 7.98% | 12.03% | 9.51% | 11.11% | 13.13% | 13.98% | 12.53% | 11.25% | 9.5% | 14.6% | 14.05% | 11.95% | 12.84% | 11.59% | 11.11% | 10.13% | 12.3% | -14.76% | 12.07% | 11.59% | 10.35% | 7.98% | 9.24% | 8.1% | 5.99% | -19.83% | -1.95% | 2.05% | 9.46% | 8.6% |
| EBITDA Growth % | -45.93% | -37.49% | 26.02% | -0.13% | -27.25% | 3.6% | 20.34% | 7.04% | 28.71% | -30.69% | -18.69% | 15.29% | -1.53% | 14.78% | -4.05% | 3.97% | -13.95% | 182.11% | -242.66% | 8.37% | 10.94% | 12.34% | -15.97% | 3.83% | 8.87% | 114.36% | -688.59% | -183.78% | -75.39% | 36.85% | 11.02% |
| D&A (Non-Cash Add-back) | 2.73M | 5.46M | 6.09M | 1.44M | 1.17M | 1.16M | 3.42M | 1.46M | 1.48M | 1.17M | 932K | 1.06M | 1.05M | 1.06M | 998K | 1.32M | 1.48M | 1.83M | 2.03M | 1.13M | 469K | 479K | 457K | 532K | 724K | 2.02M | 10.47M | 13.33M | 12.65M | 11.19M | 10.42M |
| EBIT | 839K | 1.1M | -10.85M | 7.25M | 7.46M | 10.65M | 9.88M | 7.99M | 7.11M | 5.58M | 8.86M | 10.8M | 10.45M | 9.39M | 8.1M | 8.15M | 7.63M | 8.7M | -14.82M | 7.91M | 7.87M | 7.04M | 6.24M | 7.44M | 8.72M | 5.02M | 247.51M | 319.89M | -7.03M | 18.99M | 11.64M |
| Net Interest Income | -1.43M | 0 | -1.56M | -1.09M | 81K | -50K | 83K | -2K | -325K | -83K | 66K | 11K | -18K | -28K | -20K | -229K | -460K | -692K | -1.09M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 81K | 0 | 83K | 0 | 0 | 79K | 134K | 69K | 19K | 21K | 61K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.43M | 0 | 1.56M | 1.09M | 287K | 50K | 208K | 2K | 325K | 162K | 68K | 58K | 37K | 49K | 81K | 229K | 460K | 692K | 1.09M | 775K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.42M | 1.54M | -16.82M | -667K | 253K | 2.02M | 78K | 31K | -322K | -86K | 96K | -44K | -60K | -32K | -75K | -213K | -457K | -755K | -981K | -649K | 3.04M | -3.04M | -3.69M | -4.11M | -4.2M | -4.91M | -14.05M | -13.64M | -9.98M | -6.48M | -4.74M |
| Pretax Income | -12.12M | 2.64M | -12.41M | 6.23M | 7.43M | 12.33M | 7.72M | 7.77M | 6.79M | 5.42M | 8.8M | 10.74M | 9.16M | 9.35M | 8.02M | 7.94M | 7.17M | 8.01M | -15.91M | 7.26M | 10.92M | 4M | 2.54M | 3.33M | 2.75M | 114K | -73.61M | -33.2M | -17M | 12.52M | 6.91M |
| Pretax Margin % | -14.59% | 3.21% | -14.23% | 7.11% | 9.89% | 14.11% | 9.76% | 10.58% | 8.89% | 7.71% | 13.33% | 12.74% | 10.65% | 11.5% | 10.22% | 9.31% | 7.97% | 9.3% | -18.2% | 9.69% | 15.17% | 5.51% | 3.03% | 3.86% | 2.9% | 0.1% | -29.74% | -10.38% | -4.7% | 3.92% | 2.69% |
| Income Tax | -2.9M | 795K | -3.06M | 1.33M | 1.78M | 2.41M | 1.64M | 1.21M | 1.77M | 2.4M | 3.22M | 3.92M | 3.44M | 3.58M | 2.91M | 2.89M | 2.77M | 3.1M | 1.13M | 2.83M | 3.32M | -3.97M | 105K | 222K | 264K | -1.88M | -23K | -4.05M | -5.23M | 4.71M | 3.27M |
| Effective Tax Rate % | 23.92% | 30.14% | 24.63% | 21.42% | 23.92% | 19.54% | 21.26% | 15.54% | 26.09% | 44.27% | 36.65% | 36.44% | 37.58% | 38.25% | 36.26% | 36.36% | 38.63% | 38.76% | -7.12% | 38.96% | 30.39% | -99.22% | 4.13% | 6.68% | 9.6% | -1649.12% | 0.03% | 12.19% | 30.76% | 37.63% | 47.41% |
| Net Income | -9.22M | 1.84M | -9.36M | 4.89M | 5.65M | 9.92M | 6.08M | 6.56M | 5.02M | 3.02M | 5.57M | 6.83M | 5.72M | 5.77M | 5.11M | 5.04M | 4.31M | 4.78M | -17.09M | 4.35M | 7.6M | 7.97M | 2.44M | 3.1M | 2.49M | 27M | -73.59M | -29.15M | -11.77M | 7.81M | 3.63M |
| Net Margin % | -11.1% | 2.24% | -10.72% | 5.58% | 7.53% | 11.35% | 7.68% | 8.94% | 6.57% | 4.3% | 8.45% | 8.1% | 6.65% | 7.1% | 6.52% | 5.91% | 4.79% | 5.55% | -19.55% | 5.81% | 10.56% | 10.97% | 2.91% | 3.6% | 2.63% | 22.96% | -29.73% | -9.11% | -3.25% | 2.45% | 1.42% |
| Net Income Growth % | 1.41% | 119.7% | -291.17% | -13.38% | -43.03% | 63.1% | -7.32% | 30.72% | 66.14% | -45.78% | -18.41% | 19.43% | -0.92% | 12.91% | 1.43% | 17.02% | -9.92% | 127.98% | -492.51% | -42.73% | -4.59% | 226.78% | -21.43% | 24.77% | -90.79% | 136.69% | -152.46% | -147.6% | -250.81% | 114.98% | -8.01% |
| Net Income (Continuing) | -9.22M | 1.84M | -9.36M | 4.89M | 5.65M | 9.92M | 6.08M | 6.56M | 5.02M | 3.02M | 5.57M | 6.83M | 5.72M | 5.77M | 5.11M | 5.05M | 4.4M | 4.9M | -17.04M | 4.43M | 7.6M | 7.97M | 2.44M | 3.1M | 2.49M | 1.99M | -73.59M | -29.15M | -11.77M | 7.81M | 3.63M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.86 | 0.17 | -0.90 | 0.48 | 0.56 | 0.98 | 0.60 | 0.65 | 0.50 | 0.30 | 0.55 | 0.68 | 0.57 | 0.59 | 0.52 | 0.52 | 0.45 | 0.52 | -1.83 | 0.44 | 0.76 | 0.37 | 0.11 | 0.14 | 0.12 | 1.37 | -8.55 | -3.39 | -1.37 | 0.92 | 0.45 |
| EPS Growth % | 1.35% | 118.89% | -287.5% | -14.29% | -42.86% | 63.33% | -7.69% | 30% | 66.67% | -45.45% | -19.12% | 19.3% | -3.39% | 13.46% | 0% | 15.56% | -13.46% | 128.42% | -515.91% | -42.11% | 105.41% | 236.36% | -21.43% | 16.67% | -91.24% | 116.02% | -152.21% | -147.45% | -248.91% | 104.44% | -8.16% |
| EPS (Basic) | - | 0.17 | -0.90 | 0.48 | 0.56 | 0.99 | 0.60 | 0.65 | 0.50 | 0.30 | 0.56 | 0.68 | 0.57 | 0.59 | 0.52 | 0.52 | 0.45 | 0.52 | -1.83 | 0.44 | 0.78 | 0.84 | 0.26 | 0.33 | 0.26 | 2.95 | -8.55 | -3.39 | -1.37 | 0.97 | 0.45 |
| Diluted Shares Outstanding | 10.7M | 10.7M | 10.4M | 10.21M | 10.12M | 10.08M | 10.15M | 10.15M | 10.09M | 10.08M | 10.04M | 10.04M | 10.08M | 9.86M | 9.79M | 9.75M | 9.67M | 9.29M | 9.32M | 10.16M | 10.04M | 21.73M | 21.95M | 22.39M | 21.47M | 19.76M | 8.61M | 8.61M | 8.59M | 8.49M | 8.04M |
| Basic Shares Outstanding | 10.7M | 10.7M | 10.4M | 10.21M | 10.1M | 10.05M | 10.14M | 10.15M | 10.09M | 10.07M | 10.01M | 10.02M | 10.05M | 9.85M | 9.79M | 9.64M | 9.5M | 9.19M | 9.32M | 9.89M | 9.78M | 9.51M | 9.51M | 9.48M | 9.42M | 9.17M | 8.61M | 8.6M | 8.59M | 8.06M | 8.01M |
| Dividend Payout Ratio | - | 180.74% | - | 66.24% | 57.45% | 67.77% | 82.42% | 88.22% | 64.32% | 106.62% | 174.43% | 47.02% | 56.05% | 54.58% | 149.68% | 24.85% | 17.46% | - | - | - | - | - | - | - | - | - | - | - | - | 12.46% | 26.25% |
Retailer inventory destocking cycles
As reported in recent quarterly filings, CRWS experienced a revenue decline of 11.3% in 2026Q3, continuing a broader pattern of top-line weakness that suggests the company is struggling to maintain its footprint within the highly competitive nursery bedding and infant accessory segments of mass-market retail channels.
The consistent year-over-year revenue erosion indicates that the company's core product offerings may be losing relevance or facing significant pressure from retailer destocking initiatives. Investors should monitor whether this contraction reflects a structural decline in demand for licensed nursery goods or merely a temporary adjustment in inventory replenishment cycles.
Based on the provided financial data, CRWS's gross margin has fluctuated significantly, reaching a low of 18.3% in 2025Q4 before recovering to 23.5% in 2026Q3, highlighting the company's sensitivity to input costs and the limited pricing power inherent in its outsourced manufacturing model.
The inability to maintain consistent gross margins suggests that the company remains highly susceptible to fluctuations in textile commodity prices and inbound freight costs. This lack of margin stability complicates the path to sustainable profitability, as the firm appears to have little room to absorb cost shocks without impacting its bottom line.
According to the income statement history, CRWS's operating income has frequently dipped into negative territory, including a loss of $106,000 in 2026Q3, which demonstrates that the company lacks the necessary scale to leverage its SG&A expenses effectively against its current revenue base.
The firm's operating margin profile appears fragile, as even minor revenue fluctuations lead to outsized impacts on operating income. This suggests that the current cost structure is not sufficiently optimized to support the business during periods of top-line volatility, warranting further investigation into the efficiency of its overhead management.
As evidenced by the financial statements, SG&A expenses have remained relatively sticky, hovering around $4.0M to $4.7M per quarter, which creates a significant burden on the company's thin operating margins during periods where revenue growth fails to materialize or turns negative.
The company's reliance on third-party manufacturing means that COGS is largely variable, yet the fixed nature of its SG&A costs prevents the firm from achieving meaningful operating leverage. Management's inability to scale these expenses down in proportion to revenue declines suggests a potential lack of operational flexibility in the current environment.
Based on the most recent filings, the company's cash position has dwindled to $200,000, a figure that raises significant concerns regarding its ability to fund seasonal working capital requirements or maintain its historical dividend policy in the face of ongoing operational losses.
Short-sellers would likely focus on this liquidity constraint as a primary indicator of financial distress, especially given the recent revenue contraction. The transition toward the Manhattan Toy segment may be a necessary pivot, but the current lack of cash reserves leaves the company with virtually no margin for error.
Quick answers to the most common questions about buying CRWS stock.
For fiscal year 2026, Crown Crafts, Inc. (CRWS) reported total revenue of $82.3M. This represents a 67.9% decline compared to $256.4M in 1997.
Crown Crafts, Inc. (CRWS) is profitable, generating $1.8M in net income for the fiscal year ending 2026 with a net profit margin of 2.2%.
Crown Crafts, Inc. (CRWS) reported an operating income of $1.1M, resulting in an operating profit margin of 1.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Crown Crafts, Inc. (CRWS) generated $20.1M in gross profit for the year, representing a gross profit margin of 24.4%. This demonstrates the company's core pricing power and production efficiency.