CROXNasdaqRubber & Plastics FootwearFiscal year ends December 31
Crocs, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$120.18−2.96 (-2.40%)
Close on Oct 19, 2026
- Market cap
- $5.96B
- P/E (TTM)
- 10.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
58.3%+4.2 pts over 5 years
Operating margin
3.7%−11.7 pts over 5 years
Net margin
-2.0%−24.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -1.5% | +4.4% | +23.9% | +14.0% | |
| Gross profit | -2.2% | +8.2% | +25.7% | +16.5% | |
| Operating income | -85.4% | -44.0% | -6.9% | – | |
| Free cash flow | -28.6% | +9.7% | +24.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -7.1% | 148.1% | -5.2% | |
| Return on assets | -2.8% | 33.7% | -1.8% | |
| Current ratio | 2.85 | 1.69 | 1.27 | |
| Debt to equity | 0.01 | 0.62 | 0.95 | |
| Net debt to EBITDA | -5.39× | 0.17× | 4.81× | |
| Interest coverage | -7.4× | 31.8× | 1.7× | |
| Inventory turnover | 3.4× | 3.7× | 4.6× | |
| Capex to revenue | 2.1% | 3.0% | 1.3% | |
| Diluted shares | 73M | 69M | 54M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Crocs generated $3.80B from operations and spent $2.71B on capital expenditure, dividends and share buybacks. 15% of that went back into the business.
Generated
$3.80B
Used
$2.71B
Capital expenditure$396.31M15%Dividends$00%Share buybacks$2.31B85%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.0%
×Asset turnover0.90×
×Equity multiplier2.87×
=Return on equity, FY2025-5.2%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -2.0% | 0.90× | 2.87× | -5.2% |
| FY2024 | 23.2% | 0.87× | 2.87× | 57.8% |
| FY2023 | 20.0% | 0.87× | 4.03× | 69.8% |
| FY2022 | 15.2% | 1.18× | 7.27× | 129.8% |
| FY2021 | 31.4% | 1.74× | 8.74× | 476.3% |
| FY2020 | 22.6% | 1.49× | 4.40× | 148.1% |
| FY2019 | 9.7% | 2.04× | 4.28× | 84.7% |
| FY2018 | 4.6% | 2.15× | 3.01× | 30.0% |
| FY2017 | 1.0% | 1.84× | 2.73× | 5.0% |
| FY2016 | -1.6% | 1.76× | 2.52× | -7.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$81.20M
- Cash generatingOperating cash flow above zero$710.43M
- Return on assets improvedROA up on the prior year20.5% → -1.7%
- Earnings backed by cashOperating cash flow above net income$710.43M vs -$81.20M
- Less leverageLong-term debt to assets fell28.0% → 29.5%
- Better liquidityCurrent ratio rose1.18 → 1.27
- No dilutionShare count did not rise60M → 54M
- Gross margin improvedGross margin up on the prior year58.76% → 58.33%
- More efficientAsset turnover rose0.88 → 0.84