Crocs highlights product innovation progress, HEYDUDE brand reset execution, and initial positive signals in wholesale demand. Product updates and wholesale signals point to moderate effects on Crocs sales trajectory and positioning.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | 1 | — | — | — | — | — | — | — | — | — | 3 |
| Sell | — | — | — | — | 3 | — | — | — | 1 | — | 1 | — |
| total | individual payouts | |
|---|---|---|
| 2025 | ‡‡‡ |
|
| 2024 | ‡‡‡ |
|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 149.29 | 180.49 | 130.35 | 170.28 |
| Receivables | 331.23 | 283.91 | 333.06 | 458.11 |
| Inventory | 385.05 | 356.25 | 368.69 | 389.21 |
| Other | — | — | — | — |
| 910.70 | 872.27 | 885.88 | 1,084.61 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 260.98 | 264.90 | 266.09 | 262.51 |
| ST’ Debt | 23.33 | — | — | — |
| Other | — | — | — | — |
| 698.30 | 740.21 | 700.13 | 728.03 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 921.46 | 1,179.47 | — | — |
—
|
| ’25 | 937.33 | 1,149.37 | 996.30 | 957.64 |
4,040.65
|
| ’24 | 938.63 | 1,111.50 | 1,062.20 | 989.77 |
4,102.11
|
| ’23 | 884.17 | 1,072.37 | 1,045.72 | 960.10 |
3,962.35
|
| ’22 | 660.15 | 964.58 | 985.09 | 945.16 |
3,554.99
|
| ’21 | 460.10 | 640.77 | 625.92 | 586.63 |
2,313.42
|
| ’20 | 281.16 | 331.55 | 361.74 | 411.51 |
1,385.95
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (80.93) | 351.70 | — | — |
—
|
| ’25 | (67.23) | 285.80 | 239.34 | 252.53 |
710.43
|
| ’24 | (27.57) | 401.24 | 296.89 | 321.94 |
992.49
|
| ’23 | 9.93 | 320.68 | 250.11 | 349.72 |
930.44
|
| ’22 | (68.76) | 153.51 | 161.94 | 356.46 |
603.14
|
| ’21 | 30.15 | 212.22 | 112.80 | 212.00 |
567.17
|
| ’20 | (84.91) | 125.18 | 118.37 | 108.26 |
266.90
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (98.93) | 330.97 | — | — |
—
|
| ’25 | (82.61) | 269.23 | 226.16 | 246.42 |
659.20
|
| ’24 | (43.32) | 384.18 | 278.84 | 303.45 |
923.14
|
| ’23 | (17.65) | 296.62 | 215.38 | 320.47 |
814.82
|
| ’22 | (108.55) | 136.55 | 129.10 | 341.86 |
498.95
|
| ’21 | 22.17 | 198.87 | 98.37 | 191.84 |
511.25
|
| ’20 | (100.96) | 117.34 | 109.51 | 98.99 |
224.87
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 2.71 | 4.13 | — | — |
—
|
| ’25 | 2.83 | (8.82) | 2.70 | 2.03 |
(1.50)
|
| ’24 | 2.50 | 3.77 | 3.36 | 6.36 |
15.88
|
| ’23 | 2.39 | 3.39 | 2.87 | 4.16 |
12.79
|
| ’22 | 1.19 | 2.58 | 2.72 | 2.20 |
8.71
|
| ’21 | 1.47 | 4.93 | 2.42 | 2.57 |
11.39
|
| ’20 | 0.16 | 0.83 | 0.91 | 2.69 |
4.56
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 46.08 | 74.00 | 85.71 | 73.21 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 136.81 | 151.32 | 165.32 | 122.84 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6,680 | 7,030 | 7,910 | 8,010 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.53 | 0.56 | 0.52 | 0.50 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,554.99 | 3,962.35 | 4,102.11 | 4,040.65 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 52.33% | 55.78% | 58.76% | 58.33% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 718.51 | 876.27 | 910.59 | 72.98 | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 20.21% | 22.11% | 22.20% | 1.81% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 540.16 | 792.57 | 950.07 | (81.20) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 39.23 | 54.30 | 69.84 | 79.28 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 58.07 | 64.55 | 69.08 | 74.54 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 8.82 | 12.91 | 16.00 | (1.50) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.85 | 15.16 | 16.71 | 13.11 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.70) | (1.88) | (1.17) | (0.95) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 8.15 | 13.27 | 15.55 | 12.16 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 13.36 | 23.68 | 30.91 | 23.86 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 61.22 | 61.39 | 59.38 | 54.21 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.14 | 7.25 | 6.81 | 0.00 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.84 | 1.45 | 1.59 | 1.15 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.99 | 3.96 | 3.54 | 3.58 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.44 | 1.84 | 1.88 | 1.43 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.65 | 9.01 | 8.41 | 8.84 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 603.14 | 930.44 | 992.49 | 710.43 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (104.19) | (115.62) | (69.35) | (51.23) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 498.95 | 814.82 | 923.14 | 659.20 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 384.70 | 212.41 | 132.06 | 185.75 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,322.39 | 1,664.32 | 1,349.34 | 1,230.89 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2,130.76 | 1,515.03 | 1,168.85 | 1,100.53 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 817.93 | 1,453.92 | 1,835.73 | 1,293.28 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 17.87% | 17.33% | 20.09% | (1.81%) | ‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 18.03% | 21.83% | 21.26% | 3.90% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 129.84% | 69.77% | 57.76% | (5.19%) | ‡‡‡‡‡ | — | — |
ROE
|
Crocs, Inc. (CROX) has staged an epic turnaround, surging from near-bankruptcy in the early 2010s to a pandemic powerhouse with revenue exploding 295% to $4.1 billion by 2023, fueled by viral clogs, Jibbitz customization, and the $2.5 billion HEYDUDE acquisition. Yet, as projections flatten around $4 billion annually through 2028—after a projected 2024 revenue dip and shock -$82 million net income— the stock trades midway between analyst targets, offering modest 2% upside to averages but wild swings of 23% downside or 34% pop to extremes. Stellar 2023 metrics like 59% gross margins, $923 million FCF, and 21% ROIC underscore resilience, with EV/FCF at a bargain 8.4x.
Contrarian signals mix hope and caution: insider buys from CFO and directors clash with net selling, while maturing growth, lingering $1.17 billion net debt, and inventory risks echo past pitfalls. At dirt-cheap 7x forward PE, Crocs yields steady cash for buybacks amid peer-beating ROIC, but flat topline and HEYDUDE drags could bloat multiples if demand softens post-inflation. A meme revival via collabs could rocket to highs; otherwise, trim on misses—diving deeper reveals if this foam empire sustains its billionaire-making magic.
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