Criteo S.A. Financials
Criteo S.A. (CRTO) reported $1.9B in revenue for fiscal year 2025, up 0.6% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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).
Profitability is being rebuilt through a richer gross-profit mix, while cash conversion and balance-sheet flexibility improve on nearly flat sales.
With revenue still near$1.9B , operating cash flow reached$311M , so cash generation improved faster than the top line. Because accounts receivable fell sharply at the same time, FY2025's stronger cash output came from both better margins and less cash being trapped in customer collections.
The key change is margin shape: a smaller cost-of-revenue burden lifted enough gross profit to fund heavier R&D spending and still widen operating margin to
The balance sheet also got less dependent on leverage: total liabilities fell to
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 Criteo S.A.'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.
Criteo S.A. has an operating margin of 10.4%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 61/100, indicating healthy but not exceptional operating efficiency. This is up from 7.8% the prior year.
Criteo S.A.'s revenue grew a modest 0.6% year-over-year to $1.9B. This slow but positive growth earns a score of 31/100.
Criteo S.A. has a moderate D/E ratio of 0.88. This balance of debt and equity financing earns a leverage score of 49/100.
Criteo S.A.'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.
Criteo S.A. converts 10.7% of revenue into free cash flow ($208.5M). This strong cash generation earns a score of 65/100.
Criteo S.A. earns a strong 13.0% return on equity (ROE), meaning it generates $13 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 69/100. This is up from 11.0% the prior year.
Criteo S.A. scores 2.24, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Criteo S.A. passes 8 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Criteo S.A. generates $2.09 in operating cash flow ($311.2M OCF vs $149.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Criteo S.A. earns $82.39 in operating income for every $1 of interest expense ($202.8M vs $2.5M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Criteo S.A. generated $1.9B in revenue in fiscal year 2025. This represents an increase of 0.6% from the prior year.
Criteo S.A.'s EBITDA was $325.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 35.0% from the prior year.
Criteo S.A. reported $149.0M in net income in fiscal year 2025. This represents an increase of 29.6% from the prior year.
Criteo S.A. earned $2.64 per diluted share (EPS) in fiscal year 2025. This represents an increase of 38.9% from the prior year.
Cash & Balance Sheet
Criteo S.A. generated $208.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 15.8% from the prior year.
Criteo S.A. held $342.0M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Criteo S.A.'s gross margin was 54.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.1 percentage points from the prior year.
Criteo S.A.'s operating margin was 10.4% in fiscal year 2025, reflecting core business profitability. This is up 2.6 percentage points from the prior year.
Criteo S.A.'s net profit margin was 7.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.7 percentage points from the prior year.
Criteo S.A.'s ROE was 13.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.
Capital Allocation
Criteo S.A. invested $283.3M in research and development in fiscal year 2025. This represents an increase of 1.4% from the prior year.
Criteo S.A. spent $152.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 32.3% from the prior year.
Criteo S.A. invested $102.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 31.5% from the prior year.
CRTO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.9B+0.6% | $1.9B-0.8% | $1.9B-3.3% | $2.0B-10.5% | $2.3B+8.8% | $2.1B-8.4% | $2.3B-1.7% | $2.3B+0.2% | $2.3B+27.7% | $1.8B+36.0% | $1.3B+33.9% | $988.2M |
| Cost of Revenue | $770.3M-5.1% | $811.8M-12.4% | $926.8M-14.9% | $1.1B-18.3% | $1.3B+6.9% | $1.2B-5.1% | $1.3B-1.5% | $1.3B-1.6% | $1.4B+26.8% | $1.1B+25.6% | $851.4M+34.4% | $633.4M |
| Gross Profit | $1.0B+6.8% | $983.0M+13.9% | $863.0M+8.5% | $795.2M+1.7% | $781.9M+13.7% | $688.0M-17.0% | $829.0M-0.6% | $834.2M+1.8% | $819.5M+27.1% | $645.0M+36.7% | $471.8M+33.0% | $354.8M |
| R&D Expenses | $283.3M+1.4% | $279.3M+15.3% | $242.3M+29.2% | $187.6M+23.6% | $151.8M+14.6% | $132.5M-23.2% | $172.6M-3.7% | $179.3M+3.1% | $173.9M+40.7% | $123.6M+42.4% | $86.8M+44.5% | $60.1M |
| SG&A Expenses | $168.9M-4.1% | $176.1M+28.1% | $137.5M-33.0% | $205.3M+34.5% | $152.6M+31.1% | $116.4M-16.7% | $139.8M+3.4% | $135.2M+6.4% | $127.1M+8.2% | $117.5M+48.4% | $79.1M+22.3% | $64.7M |
| Operating Income | $202.8M+33.9% | $151.4M+96.1% | $77.2M+218.1% | $24.3M-84.0% | $151.9M+39.6% | $108.8M-22.9% | $141.2M-4.0% | $147.1M+6.7% | $137.8M+13.9% | $121.0M+58.5% | $76.3M+43.8% | $53.1M |
| Interest Expense | $2.5M+34.9% | $1.8M-18.7% | $2.2M+10.8% | $2.0M-10.8% | $2.3M-19.2% | $2.8M+18.0% | $2.4M+13.1% | $2.1M-26.2% | $2.9M+20.7% | $2.4M+262.5% | $653K+12.0% | $583K |
| Income Tax | $54.2M+36.2% | $39.8M+98.1% | $20.1M-35.6% | $31.2M+92.9% | $16.2M-49.8% | $32.2M-18.5% | $39.5M-14.4% | $46.1M+45.8% | $31.7M-4.5% | $33.1M+248.1% | $9.5M-45.9% | $17.6M |
| Net Income | $149.0M+29.6% | $115.0M+109.1% | $55.0M+400.0% | $11.0M-92.0% | $138.0M+92.5% | $71.7M-21.0% | $90.7M+2.4% | $88.6M-2.8% | $91.2M+10.9% | $82.3M+38.1% | $59.6M+30.7% | $45.6M |
| EPS (Diluted) | $2.64+38.9% | $1.90+115.9% | $0.88+528.6% | $0.14-93.3% | $2.09+80.2% | $1.16-15.9% | $1.38+5.3% | $1.31-2.2% | $1.34+7.2% | $1.25+37.4% | $0.91+26.4% | $0.72 |
CRTO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.2B-2.9% | $2.3B-5.2% | $2.4B+1.8% | $2.3B+18.4% | $2.0B+7.0% | $1.9B+3.5% | $1.8B+12.1% | $1.6B+4.3% | $1.5B+26.4% | $1.2B+43.9% | $841.7M | N/A |
| Current Assets | $1.1B-12.4% | $1.2B-6.7% | $1.3B+4.1% | $1.3B-0.3% | $1.3B+18.8% | $1.1B+6.4% | $1.0B+7.1% | $933.9M-5.8% | $991.8M+33.6% | $742.6M+11.9% | $663.4M | N/A |
| Cash & Equivalents | $342.0M+17.7% | $290.7M-13.6% | $336.3M-3.4% | $348.2M-32.5% | $515.5M+5.6% | $488.0M+16.5% | $418.8M+14.9% | $364.4M-12.0% | $414.1M+53.2% | $270.3M-23.5% | $353.5M+0.5% | $351.8M |
| Accounts Receivable | $582.1M-27.3% | $800.9M+3.3% | $775.6M+9.4% | $708.9M+21.8% | $582.0M+22.8% | $474.1M-1.6% | $481.7M+1.7% | $473.9M-2.1% | $484.1M+21.9% | $397.2M+51.9% | $261.6M | N/A |
| Goodwill | $535.8M+4.0% | $515.2M-1.7% | $524.2M+1.8% | $515.1M+56.2% | $329.7M+1.2% | $325.8M+2.7% | $317.1M+1.3% | $312.9M+32.1% | $236.8M+13.1% | $209.4M+398.9% | $42.0M+50.7% | $27.9M |
| Total Liabilities | $1.0B-14.3% | $1.2B-7.4% | $1.3B+1.0% | $1.3B+61.4% | $785.3M+12.1% | $700.7M-6.9% | $752.4M+19.6% | $629.2M-0.7% | $633.6M+5.4% | $601.3M+65.8% | $362.7M | N/A |
| Current Liabilities | $844.7M-19.3% | $1.0B-8.2% | $1.1B+5.6% | $1.1B+60.6% | $672.5M+12.0% | $600.3M-1.6% | $610.3M+0.8% | $605.3M-2.5% | $621.0M+19.5% | $519.8M+45.3% | $357.8M | N/A |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $1.5M-28.9% | $2.1M-28.1% | $2.9M+63.6% | $1.8M-97.7% | $77.4M+2265.4% | $3.3M-35.1% | $5.0M |
| Total Equity | $1.1B+9.5% | $1.0B-2.8% | $1.1B+3.0% | $1.0B-9.9% | $1.2B+4.1% | $1.1B+10.9% | $1.0B+6.7% | $943.7M+7.0% | $881.5M+46.9% | $600.1M+26.5% | $474.3M+13.9% | $416.4M |
| Retained Earnings | $630.8M+10.3% | $571.7M+2.9% | $555.5M-3.8% | $577.7M-4.0% | $601.6M+22.4% | $491.4M+8.8% | $451.7M+16.5% | $387.9M+29.2% | $300.2M+51.3% | $198.4M+70.9% | $116.1M | N/A |
Not reported in any period shown, so not listed: Inventory.
CRTO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $311.2M+20.6% | $258.2M+15.1% | $224.2M-12.4% | $256.0M+15.9% | $220.9M+19.2% | $185.4M-16.8% | $222.8M-14.5% | $260.7M+6.2% | $245.5M+59.9% | $153.5M+11.9% | $137.2M+17.9% | $116.3M |
| Capital Expenditures | $102.7M+31.5% | $78.1M-32.7% | $116.1M+82.0% | $63.8M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | $208.5M+15.8% | $180.0M+66.5% | $108.1M-43.7% | $192.2M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$101.1M-3.3% | -$97.9M+9.9% | -$108.7M+34.6% | -$166.1M-117.5% | -$76.4M+24.5% | -$101.1M+2.7% | -$103.9M+54.2% | -$226.7M-113.4% | -$106.3M+66.0% | -$312.8M-207.7% | -$101.6M-35.0% | -$75.3M |
| Financing Cash Flow | -$151.5M+44.0% | -$270.5M-83.7% | -$147.3M-30.3% | -$113.0M-41.1% | -$80.1M-38.7% | -$57.7M+2.3% | -$59.1M+5.7% | -$62.7M-112.7% | -$29.5M-132.5% | $90.6M+1059.5% | $7.8M-74.8% | $31.0M |
| Share Buybacks | $152.1M-32.3% | $224.6M+79.0% | $125.5M-7.5% | $135.7M+35.6% | $100.0M+129.1% | $43.7M-25.5% | $58.6M-26.8% | $80.0M | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Dividends Paid.
CRTO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.0%+3.1pp | 50.8%+6.6pp | 44.3%+4.8pp | 39.4%+4.7pp | 34.7%+1.5pp | 33.2%-3.5pp | 36.7%+0.4pp | 36.3%+0.6pp | 35.7%-0.2pp | 35.9%+0.2pp | 35.7%-0.2pp | 35.9% |
| Operating Margin | 10.4%+2.6pp | 7.8%+3.9pp | 4.0%+2.8pp | 1.2%-5.5pp | 6.7%+1.5pp | 5.3%-1.0pp | 6.2%-0.2pp | 6.4%+0.4pp | 6.0%-0.7pp | 6.7%+1.0pp | 5.8%+0.4pp | 5.4% |
| Net Margin | 7.7%+1.7pp | 5.9%+3.1pp | 2.8%+2.3pp | 0.5%-5.6pp | 6.1%+2.7pp | 3.5%-0.5pp | 4.0%+0.2pp | 3.9%-0.1pp | 4.0%-0.6pp | 4.6%+0.1pp | 4.5%-0.1pp | 4.6% |
| Return on Equity | 13.0%+2.0pp | 11.0%+5.9pp | 5.1%+4.0pp | 1.1%-10.8pp | 11.9%+5.4pp | 6.4%-2.6pp | 9.0%-0.4pp | 9.4%-1.0pp | 10.3%-3.4pp | 13.7%+1.2pp | 12.6%+1.6pp | 10.9% |
| Return on Assets | 6.8%+1.7pp | 5.1%+2.8pp | 2.3%+1.8pp | 0.5%-6.5pp | 7.0%+3.1pp | 3.9%-1.2pp | 5.1%-0.5pp | 5.5%-0.4pp | 6.0%-0.8pp | 6.8%-0.3pp | 7.1% | N/A |
| Current Ratio | 1.27+0.1x | 1.170.0x | 1.150.0x | 1.17-0.7x | 1.88+0.1x | 1.77+0.1x | 1.64+0.1x | 1.54-0.1x | 1.60+0.2x | 1.43-0.4x | 1.85 | N/A |
| Debt-to-Equity | 0.88-0.2x | 1.13-0.1x | 1.190.0x | 1.21+0.5x | 0.68+0.7x | 0.000.0x | 0.000.0x | 0.000.0x | 0.00-0.1x | 0.13+0.1x | 0.010.0x | 0.01 |
| FCF Margin | 10.7%+1.4pp | 9.3%+3.8pp | 5.5%-4.0pp | 9.5% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Where Criteo S.A. Ranks
Frequently Asked Questions
What is Criteo S.A.'s annual revenue?
Criteo S.A. (CRTO) reported $1.9B in total revenue for fiscal year 2025. This represents a 0.6% 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 Criteo S.A.'s revenue growing?
Criteo S.A. (CRTO) revenue grew by 0.6% year-over-year, from $1.9B to $1.9B in fiscal year 2025.
Is Criteo S.A. profitable?
Yes, Criteo S.A. (CRTO) reported a net income of $149.0M in fiscal year 2025, with a net profit margin of 7.7%.
What is Criteo S.A.'s EBITDA?
Criteo S.A. (CRTO) had EBITDA of $325.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Criteo S.A.'s gross margin?
Criteo S.A. (CRTO) had a gross margin of 54.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Criteo S.A.'s operating margin?
Criteo S.A. (CRTO) had an operating margin of 10.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Criteo S.A.'s net profit margin?
Criteo S.A. (CRTO) had a net profit margin of 7.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Criteo S.A.'s return on equity (ROE)?
Criteo S.A. (CRTO) has a return on equity of 13.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Criteo S.A.'s free cash flow?
Criteo S.A. (CRTO) generated $208.5M in free cash flow during fiscal year 2025. This represents a 15.8% 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 Criteo S.A.'s operating cash flow?
Criteo S.A. (CRTO) generated $311.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Criteo S.A.'s total assets?
Criteo S.A. (CRTO) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Criteo S.A.'s capital expenditures?
Criteo S.A. (CRTO) invested $102.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Criteo S.A. spend on research and development?
Criteo S.A. (CRTO) invested $283.3M in research and development during fiscal year 2025.
What is Criteo S.A.'s current ratio?
Criteo S.A. (CRTO) had a current ratio of 1.27 as of fiscal year 2025, which is considered adequate.
What is Criteo S.A.'s debt-to-equity ratio?
Criteo S.A. (CRTO) had a debt-to-equity ratio of 0.88 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Criteo S.A.'s return on assets (ROA)?
Criteo S.A. (CRTO) had a return on assets of 6.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Criteo S.A.'s Altman Z-Score?
Criteo S.A. (CRTO) has an Altman Z-Score of 2.24, 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 Criteo S.A.'s Piotroski F-Score?
Criteo S.A. (CRTO) has a Piotroski F-Score of 8 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Criteo S.A.'s earnings high quality?
Criteo S.A. (CRTO) has an earnings quality ratio of 2.09x, 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 Criteo S.A. cover its interest payments?
Criteo S.A. (CRTO) has an interest coverage ratio of 82.39x, 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 Criteo S.A.?
Criteo S.A. (CRTO) scores 51 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.