Crocs Inc Financials
This page shows Crocs Inc (CROX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).
Cash generation stayed resilient despite a reported earnings collapse, highlighting a low-capex model and a balance sheet still healing.
FY2025’s reported loss was not driven by a sales collapse: gross margin held near58.0% even as revenue stayed around$4.0B . With operating cash flow at$710M and goodwill down by about$307M from FY2024, the gap between profit and cash points to accounting charges weighing on earnings more than a breakdown in the core cash engine.
From FY2022 to FY2025, long-term debt paydown cut borrowings from
FY2025 capital spending was only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Crocs Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Crocs Inc has an operating margin of 3.7%, meaning the company retains $4 of operating profit per $100 of revenue. This strong profitability earns a score of 73/100, reflecting efficient cost management and pricing power. This is down from 24.9% the prior year.
Crocs Inc's revenue declined 1.5% year-over-year, from $4.1B to $4.0B. This contraction results in a growth score of 35/100.
Crocs Inc has elevated debt relative to equity (D/E of 0.95), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 12/100, reflecting increased financial risk.
Crocs Inc's current ratio of 1.27 indicates adequate short-term liquidity, earning a score of 32/100. The company can meet its near-term obligations, though with limited headroom.
Crocs Inc converts 16.3% of revenue into free cash flow ($659.2M). This strong cash generation earns a score of 86/100.
Crocs Inc earns a strong -6.3% return on equity (ROE), meaning it generates $-6 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 71/100. This is down from 51.8% the prior year.
Crocs Inc scores 3.68, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Crocs Inc passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Crocs Inc generates $-8.75 in operating cash flow ($710.4M OCF vs -$81.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Crocs Inc earns $1.7 in operating income for every $1 of interest expense ($149.5M vs $88.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Crocs Inc generated $4.0B in revenue in fiscal year 2025. This represents a decrease of 1.5% from the prior year.
Crocs Inc's EBITDA was $228.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 79.0% from the prior year.
Crocs Inc reported -$81.2M in net income in fiscal year 2025. This represents a decrease of 108.5% from the prior year.
Crocs Inc earned $-1.50 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 109.4% from the prior year.
Cash & Balance Sheet
Crocs Inc generated $659.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 28.6% from the prior year.
Crocs Inc held $130.4M in cash against $1.2B in long-term debt as of fiscal year 2025.
Crocs Inc had 50M shares outstanding in fiscal year 2025. This represents a decrease of 10.4% from the prior year.
Margins & Returns
Crocs Inc's gross margin was 58.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.
Crocs Inc's operating margin was 3.7% in fiscal year 2025, reflecting core business profitability. This is down 21.2 percentage points from the prior year.
Crocs Inc's net profit margin was -2.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 25.2 percentage points from the prior year.
Crocs Inc's ROE was -6.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 58.0 percentage points from the prior year.
Capital Allocation
Crocs Inc invested $29.6M in research and development in fiscal year 2025. This represents an increase of 15.6% from the prior year.
Crocs Inc spent $582.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 5.4% from the prior year.
Crocs Inc invested $51.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 26.1% from the prior year.
CROX Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $921.5M-3.8% | $957.6M-3.9% | $996.3M-13.3% | $1.1B+22.6% | $937.3M-5.3% | $989.8M-6.8% | $1.1B-4.4% | $1.1B |
| Cost of Revenue | $398.5M-8.2% | $434.0M+5.0% | $413.3M-6.2% | $440.5M+11.3% | $395.8M-5.1% | $416.8M-2.8% | $428.9M-0.2% | $429.6M |
| Gross Profit | $522.9M-0.1% | $523.7M-10.2% | $583.0M-17.8% | $708.8M+30.9% | $541.5M-5.5% | $572.9M-9.5% | $633.3M-7.1% | $681.9M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $322.1M-14.6% | $377.3M+0.5% | $375.3M-5.7% | $398.2M+25.0% | $318.6M-8.7% | $348.9M-4.0% | $363.5M+2.1% | $356.2M |
| Operating Income | $200.8M+37.2% | $146.4M-29.5% | $207.7M+148.6% | -$427.5M-291.7% | $223.0M+11.5% | $199.9M-25.9% | $269.8M-17.2% | $325.7M |
| Interest Expense | $20.5M-3.9% | $21.3M-2.0% | $21.7M-3.6% | $22.5M-1.1% | $22.8M-2.4% | $23.3M-10.9% | $26.2M-10.1% | $29.2M |
| Income Tax | $41.3M+87.2% | $22.1M-49.4% | $43.6M-0.1% | $43.7M-2.6% | $44.8M+123.2% | -$193.7M-529.5% | $45.1M-33.2% | $67.5M |
| Net Income | $137.6M+30.8% | $105.2M-27.9% | $145.8M+129.6% | -$492.3M-407.5% | $160.1M-56.6% | $368.9M+84.7% | $199.8M-12.7% | $228.9M |
| EPS (Diluted) | $2.71 | N/A | $2.70+130.6% | $-8.82-411.7% | $2.83 | N/A | $3.36-10.9% | $3.77 |
CROX Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.3B+4.0% | $4.2B-2.9% | $4.3B-3.4% | $4.5B-12.2% | $5.1B+5.3% | $4.8B+2.1% | $4.7B-0.1% | $4.7B |
| Current Assets | $1.1B+20.2% | $885.9M-8.8% | $971.2M-11.9% | $1.1B+2.6% | $1.1B+23.1% | $872.3M-11.9% | $990.4M-3.6% | $1.0B |
| Cash & Equivalents | $130.9M+0.4% | $130.4M-15.3% | $154.0M-23.2% | $200.6M+20.5% | $166.5M-7.8% | $180.5M-3.0% | $186.1M+11.0% | $167.7M |
| Inventory | $397.6M+7.8% | $368.7M-7.1% | $397.1M-2.0% | $405.1M+3.5% | $391.3M+9.8% | $356.3M-3.0% | $367.2M-2.5% | $376.6M |
| Accounts Receivable | $442.3M+59.0% | $278.2M-17.0% | $335.3M-19.7% | $417.4M-6.3% | $445.7M+73.0% | $257.7M-28.8% | $361.7M-13.9% | $420.2M |
| Goodwill | $404.7M0.0% | $404.7M0.0% | $404.7M0.0% | $404.7M-43.1% | $711.6M0.0% | $711.5M0.0% | $711.6M0.0% | $711.5M |
| Total Liabilities | $2.9B+1.2% | $2.9B-1.9% | $2.9B-3.1% | $3.0B-2.2% | $3.1B+4.0% | $3.0B-0.4% | $3.0B-2.6% | $3.1B |
| Current Liabilities | $639.5M-8.7% | $700.1M+1.2% | $691.7M-3.2% | $714.8M+1.4% | $705.2M-4.7% | $740.2M+6.9% | $692.5M+0.9% | $686.4M |
| Long-Term Debt | $1.3B+8.1% | $1.2B-6.6% | $1.3B-4.4% | $1.4B-6.9% | $1.5B+9.8% | $1.3B-5.1% | $1.4B-7.0% | $1.5B |
| Total Equity | $1.4B+10.4% | $1.3B-5.1% | $1.4B-4.1% | $1.4B-27.8% | $2.0B+7.3% | $1.8B+6.4% | $1.7B+4.3% | $1.7B |
| Retained Earnings | $3.6B+4.0% | $3.5B+3.1% | $3.4B+4.5% | $3.2B-13.2% | $3.7B+4.5% | $3.6B+11.6% | $3.2B+6.7% | $3.0B |
CROX Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$80.9M-132.0% | $252.5M+5.5% | $239.3M-16.3% | $285.8M+525.1% | -$67.2M-120.9% | $321.9M+8.4% | $296.9M-26.0% | $401.2M |
| Capital Expenditures | $18.0M+194.6% | $6.1M-53.6% | $13.2M-20.5% | $16.6M+7.8% | $15.4M-16.8% | $18.5M+2.4% | $18.1M+5.8% | $17.1M |
| Free Cash Flow | -$98.9M-140.1% | $246.4M+9.0% | $226.2M-16.0% | $269.2M+425.9% | -$82.6M-127.2% | $303.4M+8.8% | $278.8M-27.4% | $384.2M |
| Investing Cash Flow | -$18.0M-194.6% | -$6.1M+53.6% | -$13.2M+20.5% | -$16.6M-7.8% | -$15.4M+16.8% | -$18.5M-2.4% | -$18.1M-5.8% | -$17.1M |
| Financing Cash Flow | $100.1M+137.0% | -$270.2M+0.4% | -$271.2M-13.4% | -$239.1M-463.2% | $65.8M+121.8% | -$302.4M-14.8% | -$263.5M+29.7% | -$375.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $0-100.0% | $180.2M-13.4% | $208.0M+56.1% | $133.3M+119.0% | $60.9M-73.1% | $226.3M+49.7% | $151.2M-13.6% | $175.0M |
CROX Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.8%+2.1pp | 54.7%-3.8pp | 58.5%-3.1pp | 61.7%+3.9pp | 57.8%-0.1pp | 57.9%-1.8pp | 59.6%-1.7pp | 61.4% |
| Operating Margin | 21.8%+6.5pp | 15.3%-5.5pp | 20.8%+58.0pp | -37.2%-61.0pp | 23.8%+3.6pp | 20.2%-5.2pp | 25.4%-3.9pp | 29.3% |
| Net Margin | 14.9%+3.9pp | 11.0%-3.7pp | 14.6%+57.5pp | -42.8%-59.9pp | 17.1%-20.2pp | 37.3%+18.5pp | 18.8%-1.8pp | 20.6% |
| Return on Equity | 9.6%+1.5pp | 8.1%-2.6pp | 10.7%+45.3pp | -34.6%-42.8pp | 8.1%-12.0pp | 20.1%+8.5pp | 11.6%-2.3pp | 13.9% |
| Return on Assets | 3.2%+0.6pp | 2.5%-0.9pp | 3.4%+14.5pp | -11.1%-14.2pp | 3.2%-4.5pp | 7.7%+3.4pp | 4.2%-0.6pp | 4.9% |
| Current Ratio | 1.67+0.4 | 1.27-0.1 | 1.40-0.1 | 1.54+0.0 | 1.52+0.3 | 1.18-0.3 | 1.43-0.1 | 1.50 |
| Debt-to-Equity | 0.93-0.0 | 0.95-0.0 | 0.970.0 | 0.97+0.2 | 0.75+0.0 | 0.73-0.1 | 0.82-0.1 | 0.93 |
| FCF Margin | -10.7%-36.5pp | 25.7%+3.0pp | 22.7%-0.7pp | 23.4%+32.2pp | -8.8%-39.5pp | 30.7%+4.4pp | 26.3%-8.3pp | 34.6% |
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Frequently Asked Questions
What is Crocs Inc's annual revenue?
Crocs Inc (CROX) reported $4.0B in total revenue for fiscal year 2025. This represents a -1.5% 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 Crocs Inc's revenue growing?
Crocs Inc (CROX) revenue declined by 1.5% year-over-year, from $4.1B to $4.0B in fiscal year 2025.
Is Crocs Inc profitable?
No, Crocs Inc (CROX) reported a net income of -$81.2M in fiscal year 2025, with a net profit margin of -2.0%.
What is Crocs Inc's EBITDA?
Crocs Inc (CROX) had EBITDA of $228.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Crocs Inc have?
As of fiscal year 2025, Crocs Inc (CROX) had $130.4M in cash and equivalents against $1.2B in long-term debt.
What is Crocs Inc's gross margin?
Crocs Inc (CROX) had a gross margin of 58.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Crocs Inc's operating margin?
Crocs Inc (CROX) had an operating margin of 3.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Crocs Inc's net profit margin?
Crocs Inc (CROX) had a net profit margin of -2.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Crocs Inc's return on equity (ROE)?
Crocs Inc (CROX) has a return on equity of -6.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Crocs Inc's free cash flow?
Crocs Inc (CROX) generated $659.2M in free cash flow during fiscal year 2025. This represents a -28.6% 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 Crocs Inc's operating cash flow?
Crocs Inc (CROX) generated $710.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Crocs Inc's total assets?
Crocs Inc (CROX) had $4.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Crocs Inc's capital expenditures?
Crocs Inc (CROX) invested $51.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Crocs Inc spend on research and development?
Crocs Inc (CROX) invested $29.6M in research and development during fiscal year 2025.
What is Crocs Inc's current ratio?
Crocs Inc (CROX) had a current ratio of 1.27 as of fiscal year 2025, which is considered adequate.
What is Crocs Inc's debt-to-equity ratio?
Crocs Inc (CROX) had a debt-to-equity ratio of 0.95 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Crocs Inc's return on assets (ROA)?
Crocs Inc (CROX) had a return on assets of -1.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Crocs Inc's Altman Z-Score?
Crocs Inc (CROX) has an Altman Z-Score of 3.68, placing it in the Safe Zone (low bankruptcy 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 Crocs Inc's Piotroski F-Score?
Crocs Inc (CROX) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Crocs Inc's earnings high quality?
Crocs Inc (CROX) has an earnings quality ratio of -8.75x, considered mixed 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 Crocs Inc cover its interest payments?
Crocs Inc (CROX) has an interest coverage ratio of 1.7x, meaning it can struggle to 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 Crocs Inc?
Crocs Inc (CROX) scores 52 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.