Carters Financials
This page shows Carters (CRI) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Carters has an operating margin of 9.0%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 45/100, indicating healthy but not exceptional operating efficiency. This is down from 11.0% the prior year.
Carters's revenue declined 3.4% year-over-year, from $2.9B to $2.8B. This contraction results in a growth score of 19/100.
Carters carries a low D/E ratio of 0.58, meaning only $0.58 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 90/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.25, Carters holds $2.25 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 70/100.
Carters has a free cash flow margin of 8.5%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.
Carters earns a strong 21.7% return on equity (ROE), meaning it generates $22 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 87/100. This is down from 27.5% the prior year.
Carters scores 2.92, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Carters passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, all 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Carters generates $1.61 in operating cash flow ($298.8M OCF vs $185.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Carters earns $8.1 in operating income for every $1 of interest expense ($254.7M vs $31.3M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Carters generated $2.8B in revenue in fiscal year 2024. This represents a decrease of 3.4% from the prior year.
Carters's EBITDA was $309.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.5% from the prior year.
Carters generated $242.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 48.3% from the prior year.
Carters reported $185.5M in net income in fiscal year 2024. This represents a decrease of 20.2% from the prior year.
Carters earned $5.12 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 17.9% from the prior year.
Carters held $412.9M in cash against $498.1M in long-term debt as of fiscal year 2024.
Carters paid $3.20 per share in dividends in fiscal year 2024. This represents an increase of 6.7% from the prior year.
Carters had 36M shares outstanding in fiscal year 2024. This represents a decrease of 1.4% from the prior year.
Carters's gross margin was 48.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the prior year.
Carters's operating margin was 9.0% in fiscal year 2024, reflecting core business profitability. This is down 2.0 percentage points from the prior year.
Carters's net profit margin was 6.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 1.4 percentage points from the prior year.
Carters's ROE was 21.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 5.8 percentage points from the prior year.
Carters spent $50.5M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 49.5% from the prior year.
Carters invested $56.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 6.2% from the prior year.
CRI Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $757.8M+29.5% | $585.3M-7.1% | $629.8M-26.6% | $857.9M+8.4% | $791.7M+31.9% | $600.2M-13.7% | $695.9M-23.7% | $912.1M |
| Cost of Revenue | $416.2M+37.1% | $303.6M | N/A | N/A | $415.3M+34.7% | $308.3M | N/A | N/A |
| Gross Profit | $341.6M+21.2% | $281.8M-3.2% | $291.1M-30.4% | $418.2M+11.1% | $376.4M+28.9% | $291.9M-5.7% | $309.5M-25.5% | $415.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $318.0M+13.2% | $281.0M+3.9% | $270.3M-5.8% | $287.0M-0.6% | $288.7M+11.6% | $258.7M-0.4% | $259.6M-14.2% | $302.5M |
| Operating Income | $29.1M+619.4% | $4.0M-84.5% | $26.1M-80.8% | $136.1M+45.6% | $93.4M+148.7% | $37.6M-33.3% | $56.4M-48.6% | $109.5M |
| Interest Expense | $7.2M-8.7% | $7.9M+0.5% | $7.8M+2.5% | $7.6M-11.4% | $8.6M+6.6% | $8.1M-16.2% | $9.6M+3.9% | $9.3M |
| Income Tax | $3.2M+157.8% | $1.3M-78.4% | $5.8M-81.5% | $31.4M+63.4% | $19.2M+160.7% | $7.4M-36.7% | $11.7M-42.4% | $20.3M |
| Net Income | $11.6M+2499.3% | $446K-97.1% | $15.5M-85.4% | $106.5M+61.1% | $66.1M+177.1% | $23.9M-33.7% | $36.0M-55.1% | $80.2M |
| EPS (Diluted) | $0.32+3100.0% | $0.01-97.7% | $0.43-85.0% | $2.87+61.2% | $1.78+178.1% | $0.64-32.6% | $0.95-54.3% | $2.08 |
CRI Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.5B+0.6% | $2.5B+5.3% | $2.3B-2.0% | $2.4B+2.5% | $2.3B+1.4% | $2.3B+0.2% | $2.3B-6.4% | $2.4B |
| Current Assets | $1.1B-2.1% | $1.2B+10.4% | $1.0B-4.7% | $1.1B+3.1% | $1.1B+2.2% | $1.0B+0.3% | $1.0B-12.3% | $1.2B |
| Cash & Equivalents | $184.2M-45.5% | $338.2M+5.4% | $320.8M-8.7% | $351.2M+107.7% | $169.1M-3.1% | $174.5M+10.7% | $157.7M-25.5% | $211.7M |
| Inventory | $656.1M+6.0% | $619.1M+30.6% | $474.1M-11.7% | $537.1M-13.5% | $620.7M-8.9% | $681.6M+11.0% | $613.9M-17.5% | $744.6M |
| Accounts Receivable | $247.0M | N/A | N/A | $183.8M-23.6% | $240.5M | N/A | N/A | N/A |
| Goodwill | $208.4M-0.3% | $209.0M+0.9% | $207.1M-1.6% | $210.5M+0.5% | $209.5M-0.5% | $210.5M+0.4% | $209.6M+0.1% | $209.3M |
| Total Liabilities | $1.6B+0.2% | $1.6B+7.9% | $1.5B-3.2% | $1.5B-0.1% | $1.5B+1.4% | $1.5B+1.9% | $1.5B-9.6% | $1.6B |
| Current Liabilities | $501.7M-4.6% | $525.7M+28.4% | $409.3M-20.0% | $511.9M+10.3% | $464.2M-10.3% | $517.5M+26.0% | $410.6M-22.4% | $528.9M |
| Long-Term Debt | $498.7M0.0% | $498.5M0.0% | $498.3M+0.2% | $497.4M-12.3% | $567.2M+14.1% | $497.0M-13.8% | $576.8M-6.5% | $616.6M |
| Total Equity | $864.6M+1.3% | $853.9M+0.8% | $847.2M+0.2% | $845.3M+7.6% | $785.3M+1.3% | $775.0M-2.9% | $797.9M+0.2% | $796.4M |
| Retained Earnings | $874.4M+0.3% | $871.9M-1.0% | $880.6M+1.4% | $868.8M+6.7% | $814.1M+1.8% | $799.6M-3.4% | $827.9M-0.3% | $830.4M |
CRI Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$128.0M-417.5% | $40.3M+182.9% | -$48.6M-115.0% | $323.3M+9466.8% | -$3.5M-102.1% | $167.0M+295.9% | $42.2M-86.2% | $305.8M |
| Capital Expenditures | $16.1M-0.5% | $16.2M+56.6% | $10.3M-40.5% | $17.4M+7.9% | $16.1M+28.6% | $12.5M-9.4% | $13.8M+2.4% | $13.5M |
| Free Cash Flow | -$144.1M-697.7% | $24.1M+140.9% | -$59.0M-119.3% | $306.0M+1663.7% | -$19.6M-112.7% | $154.5M+444.6% | $28.4M-90.3% | $292.3M |
| Investing Cash Flow | -$16.1M+0.5% | -$16.2M-56.6% | -$10.3M+40.5% | -$17.4M-7.9% | -$16.1M-28.6% | -$12.5M+9.4% | -$13.8M-2.4% | -$13.5M |
| Financing Cash Flow | -$9.3M-0.7% | -$9.2M+72.5% | -$33.6M+73.3% | -$126.0M-957.4% | $14.7M+110.6% | -$138.6M-67.4% | -$82.8M+59.2% | -$202.9M |
| Dividends Paid | $9.1M+0.2% | $9.1M-68.6% | $29.0M+5.4% | $27.5M-1.3% | $27.9M-1.1% | $28.2M-1.1% | $28.5M-0.2% | $28.6M |
| Share Buybacks | $0 | $0 | $0-100.0% | $32.5M+18.0% | $27.6M-9.1% | $30.3M+216.5% | $9.6M-83.4% | $57.9M |
CRI Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'23 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.1%-3.1pp | 48.1%+1.9pp | 46.2%-2.5pp | 48.8%+1.2pp | 47.5%-1.1pp | 48.6%+4.2pp | 44.5%-1.1pp | 45.6% |
| Operating Margin | 3.8%+3.1pp | 0.7%-3.5pp | 4.1%-11.7pp | 15.9%+4.1pp | 11.8%+5.5pp | 6.3%-1.8pp | 8.1%-3.9pp | 12.0% |
| Net Margin | 1.5%+1.4pp | 0.1%-2.4pp | 2.5%-10.0pp | 12.4%+4.1pp | 8.3%+4.4pp | 4.0%-1.2pp | 5.2%-3.6pp | 8.8% |
| Return on Equity | 1.3%+1.3pp | 0.1%-1.8pp | 1.8%-10.8pp | 12.6%+4.2pp | 8.4%+5.3pp | 3.1%-1.4pp | 4.5%-5.6pp | 10.1% |
| Return on Assets | 0.5%+0.5pp | 0.0%-0.7pp | 0.7%-3.8pp | 4.5%+1.6pp | 2.9%+1.8pp | 1.0%-0.5pp | 1.6%-1.7pp | 3.3% |
| Current Ratio | 2.26+0.1 | 2.20-0.4 | 2.56+0.4 | 2.15-0.1 | 2.30+0.3 | 2.02-0.5 | 2.54+0.3 | 2.25 |
| Debt-to-Equity | 0.580.0 | 0.580.0 | 0.590.0 | 0.59-0.1 | 0.72+0.1 | 0.64-0.1 | 0.72-0.1 | 0.77 |
| FCF Margin | -19.0%-23.1pp | 4.1%+13.5pp | -9.4%-45.0pp | 35.7%+38.1pp | -2.5%-28.2pp | 25.7%+21.7pp | 4.1%-28.0pp | 32.0% |
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Frequently Asked Questions
What is Carters's annual revenue?
Carters (CRI) reported $2.8B in total revenue for fiscal year 2024. This represents a -3.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Carters's revenue growing?
Carters (CRI) revenue declined by 3.4% year-over-year, from $2.9B to $2.8B in fiscal year 2024.
Is Carters profitable?
Yes, Carters (CRI) reported a net income of $185.5M in fiscal year 2024, with a net profit margin of 6.5%.
What is Carters's earnings per share (EPS)?
Carters (CRI) reported diluted earnings per share of $5.12 for fiscal year 2024. This represents a -17.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Carters's EBITDA?
Carters (CRI) had EBITDA of $309.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Carters have?
As of fiscal year 2024, Carters (CRI) had $412.9M in cash and equivalents against $498.1M in long-term debt.
What is Carters's gross margin?
Carters (CRI) had a gross margin of 48.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Carters's operating margin?
Carters (CRI) had an operating margin of 9.0% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Carters's net profit margin?
Carters (CRI) had a net profit margin of 6.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Carters pay dividends?
Yes, Carters (CRI) paid $3.20 per share in dividends during fiscal year 2024.
What is Carters's return on equity (ROE)?
Carters (CRI) has a return on equity of 21.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Carters's free cash flow?
Carters (CRI) generated $242.6M in free cash flow during fiscal year 2024. This represents a -48.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Carters's operating cash flow?
Carters (CRI) generated $298.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Carters's total assets?
Carters (CRI) had $2.4B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Carters's capital expenditures?
Carters (CRI) invested $56.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Carters buy back shares?
Yes, Carters (CRI) spent $50.5M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Carters have outstanding?
Carters (CRI) had 36M shares outstanding as of fiscal year 2024.
What is Carters's current ratio?
Carters (CRI) had a current ratio of 2.25 as of fiscal year 2024, which is generally considered healthy.
What is Carters's debt-to-equity ratio?
Carters (CRI) had a debt-to-equity ratio of 0.58 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Carters's return on assets (ROA)?
Carters (CRI) had a return on assets of 7.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Carters's Altman Z-Score?
Carters (CRI) has an Altman Z-Score of 2.92, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Carters's Piotroski F-Score?
Carters (CRI) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Carters's earnings high quality?
Carters (CRI) has an earnings quality ratio of 1.61x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Carters cover its interest payments?
Carters (CRI) has an interest coverage ratio of 8.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Carters?
Carters (CRI) scores 59 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.