Crocs, Inc. (CROX) vs Forward Industries, Inc. (FWDI)

Crocs, Inc. and Forward Industries, Inc. are both Footwear & Accessories companies. Crocs, Inc. is the larger, with a market value of $5.6B against $547.8M — 10.2× the size. Forward Industries, Inc. has negative trailing earnings, so its P/E is not meaningful; Crocs, Inc. trades at 9.8×. Forward Industries, Inc. grew revenue faster over the last twelve months: 309.5% against −2.03%. Crocs, Inc. has the higher net margin (14.6% vs −2,073.8%) and the higher return on invested capital (20.8% vs −127.6%). Across the 18 metrics below, Crocs, Inc. leads on 14 and Forward Industries, Inc. on 4.

Valuation

Metric CROX FWDI Footwear & Accessories median
P/E 9.84 n/m 15.41
P/S 1.39 12.00 1.14
P/B 4.08 1.34 2.58
Price to free cash flow 8.10 n/m 12.47
EV/EBITDA 7.36 n/m 9.36
EV/Sales 1.67 11.78 1.33
Earnings yield 10.16% (429.28%) 6.18%
Free cash flow yield 12.34% (151.83%) 4.87%

Profitability

Metric CROX FWDI Footwear & Accessories median
Gross margin 57.47% 70.56% 49.76%
Operating margin 20.73% (1,771.61%) 8.44%
Net margin 14.63% (2,073.82%) 5.64%
Free cash flow margin 17.38% (1,821.29%) 8.18%
Return on equity 42.30% (466.18%) 12.45%
Return on assets 13.48% (360.71%) 6.15%
Return on invested capital 20.83% (127.61%) 9.58%

Growth

Metric CROX FWDI Footwear & Accessories median
Revenue growth (TTM) (2.03%) 309.45% 3.42%
EPS growth (last fiscal year) (109.45%) (1,289.27%) 10.90%
Revenue growth, 5-year CAGR 23.86% (12.01%) 7.17%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CROX FWDI Footwear & Accessories median
Debt to equity 0.94 0.00 0.46
Current ratio 1.49 0.17 2.07
Net debt to EBITDA 4.81 6.33 1.00

Dividend

Metric CROX FWDI Footwear & Accessories median
Dividend yield — — 1.98%
Payout ratio — — 0.37

Size

Metric CROX FWDI Footwear & Accessories median
Market cap 5.60b 547.75m 547.75m

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