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Crocs, Inc. (CROX) stock analysis

CROXNasdaqRubber & Plastics FootwearFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 14/3025% below fair value
$159.98+0.32 (+0.20%)

Close on Nov 11, 2026Market cap $7.32BP/E 11.9Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value4Growth2Performance4Health4Dividend0

Mixed14 of 30 checks passed

Crocs passes 14 of the 30 checks behind our score; 8 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
4/6
Growth
2/6
Past performance
4/6
Financial health
4/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 24.8% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $159.98 is below our fair value estimate of $212.63.

  • Return on equity over 15%

    Return on equity was 49.1% over the last twelve months and averaged 146% over five years.

  • Return on capital over 10%

    Return on invested capital was 29.0%, above the 10% that usually covers the cost of capital.

What to watch

  • High debt

    Debt is 95.8% of shareholders' equity, above the 40% we consider low.

  • Revenue growing under 10% a year

    Revenue grew 4.4% a year over the last three fiscal years, short of the 10% we look for.

  • P/E above its 5-year median

    Crocs's P/E of 11.9 is above its own 5-year median of 9.8.

  • P/B above the industry

    Crocs's price-to-book of 5.44 is above the Rubber and Miscellaneous Plastics Products median of 3.76.

Valuation4/6

  • P/E above its 5-year median

    Crocs's P/E of 11.9 is above its own 5-year median of 9.8.

  • P/E below the industry

    Crocs's P/E of 11.9 is below the Rubber and Miscellaneous Plastics Products median of 24.6.

  • EV/EBITDA below its 5-year median

    Crocs's EV/EBITDA of 8.4 is below its 5-year median of 9.0.

  • P/B above the industry

    Crocs's price-to-book of 5.44 is above the Rubber and Miscellaneous Plastics Products median of 3.76.

  • Trading below fair value

    The share price of $159.98 is below our fair value estimate of $212.63.

  • Margin of safety over 20%

    The price is 24.8% below fair value, more than the 20% cushion we look for.

Growth2/6

  • Revenue growing under 10% a year

    Revenue grew 4.4% a year over the last three fiscal years, short of the 10% we look for.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing slower than the industry

    Revenue grew 0.7% over the last twelve months; the Rubber and Miscellaneous Plastics Products median is 7.8%.

  • Guidance raised

    Crocs raised its Full Year 2026 Revenues outlook on Jul 30, 2026.

  • Gross margin improving

    Gross margin was 59.4% over the last twelve months, against 59.1% a year earlier.

Past performance4/6

  • Return on equity over 15%

    Return on equity was 49.1% over the last twelve months and averaged 146% over five years.

  • Return on capital over 10%

    Return on invested capital was 29.0%, above the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    Crocs's return on equity of 49.1% is above the Rubber and Miscellaneous Plastics Products median of 9.7%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin below its 5-year average

    Net margin was 16.2% over the last twelve months, against a 5-year average of 17.5%.

  • Net margin above the industry

    Crocs's net margin of 16.2% is above the Rubber and Miscellaneous Plastics Products median of 6.7%.

Financial health4/6

  • High debt

    Debt is 95.8% of shareholders' equity, above the 40% we consider low.

  • Debt rising against equity

    Debt to equity rose from 61.9% five years ago to 95.8%.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 63.1% of total debt.

  • Interest well covered

    Operating income covers interest expense 11.5 times.

  • Short-term assets cover short-term debts

    Current assets are 1.44 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 4.58; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Crocs has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$212.63

The share price is 25% below this estimate.

20%+ below
Near fair value
20%+ above
$159.98Price$212.63Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E17.1×9.8×24.6×$229.9144%
EV/EBITDA10.9×9.0×12.8×$214.9639%
Earnings power11.1% cost of equity––$161.1217%
Fair value$212.63100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 9.8
  • Rubber and Miscellaneous Plastics Products median 24.6

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$171.28M
Value traded per 1% price move
$72.83M

Downside

Medium risk

Typical loss in a bad month
19.3%
Volatility (annualized)
51%
Sharpe ratio, 1 year
2.21
Beta to the S&P 500 (5Y)
1.25

Typical bad-month loss, week by week

25%: high

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

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