Crocs (CROX)
NASDAQ:CROX
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Crocs
(NASDAQ:CROX)
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Rating:61Neutral
Price Target:
$106.00
▲(0.12% Upside)
Action:Reiterated
Date:04/30/26
The score is driven primarily by mixed financial performance (recent revenue/profitability downturn but strong free cash flow) and constructive technical momentum. Raised EPS guidance and margin expectations add support, while the negative P/E and lack of dividend data weigh on valuation.
Positive Factors
Direct-to-Consumer Strength
Sustained DTC growth improves margin capture, control of pricing and inventory, and customer data access. Over 2–6 months continued DTC outperformance supports more stable revenue and higher unit economics than wholesale, enabling targeted marketing and faster product cycle monetization.
Negative Factors
Revenue & Profit Decline
A material multi-period revenue and earnings decline undermines ability to invest in growth, weakens operating leverage, and can strain wholesale partnerships. Persistent top-line weakness would pressure margins, ROE and long-term competitiveness unless DTC and international gains offset losses.
Read all positive and negative factors
Positive Factors
Negative Factors
Direct-to-Consumer Strength
Sustained DTC growth improves margin capture, control of pricing and inventory, and customer data access. Over 2–6 months continued DTC outperformance supports more stable revenue and higher unit economics than wholesale, enabling targeted marketing and faster product cycle monetization.
Read all positive factors
Crocs Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue from different business segments, offering insight into which areas are driving growth and profitability.
Breaks down revenue from different business segments, offering insight into which areas are driving growth and profitability.
Data provided by:
The Fly
The FlyCrocs (CROX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.82B
Dividend YieldN/A
Average Volume (3M)1.27M
Price to Earnings (P/E)7.6
Beta (1Y)0.83
Revenue Growth-1.85%
EPS Growth-108.05%
CountryUS
Employees7,910
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)-1.31
Shares Outstanding49,689,648
10 Day Avg. Volume1,042,609
30 Day Avg. Volume1,272,398
Financial Highlights & Ratios
PEG Ratio0.52
Price to Book (P/B)3.58
Price to Sales (P/S)1.15
P/FCF Ratio7.03
Enterprise Value/Market Cap1.35
Enterprise Value/Revenue1.62
Enterprise Value/Gross Profit2.79
Enterprise Value/Ebitda6.89
Forecast
1Y Price Target
$112.80Price Target Upside6.55% Upside
Rating ConsensusHold
Number of Analyst Covering12
EPS Forecast (FY)13.65
Revenue Forecast (FY)$4.07B
Crocs Business Overview & Revenue Model
Company Description
Crocs, Inc., together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, f...
How the Company Makes Money
Crocs makes money primarily by selling footwear and related accessories through two main routes: (1) direct-to-consumer (DTC) and (2) wholesale. DTC revenue comes from products sold directly to end customers via the Crocs-branded e-commerce sites ...
Crocs Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: the company beat near‑term expectations, demonstrated strong DTC and international momentum, delivered successful product innovation and returned cash to shareholders while raising full‑year EPS guidance. Offsetting these positives were ongoing declines in wholesale and HEYDUDE revenue, margin pressure from tariffs and new product mix, and uncertainty related to the Middle East conflict and higher transportation/resin costs. Management emphasized agility, inventory discipline and cost savings to mitigate headwinds and expressed confidence in a second‑half recovery.Positive Updates
Better‑Than‑Expected Q1 Performance
Enterprise revenue of $921 million in Q1, beating expectations. Adjusted diluted EPS of $2.99 was ahead of expectations and flat year‑over‑year.
Negative Updates
Overall Revenue and Brand Declines
Enterprise revenue declined 2% on a reported basis and 4% on a constant currency basis in Q1. Crocs brand revenue down 2% and HEYDUDE brand revenue down 13% in the quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Better‑Than‑Expected Q1 Performance
Enterprise revenue of $921 million in Q1, beating expectations. Adjusted diluted EPS of $2.99 was ahead of expectations and flat year‑over‑year.
Read all positive updates
Company Guidance
For full-year 2026 management now expects enterprise revenue to be up 1% to down 1% (reported, FX as of April 27), with Crocs brand revenue flat to +2% and HEYDUDE revenue down ~5%–7%; adjusted diluted EPS has been raised to $13.20–$13.75 (range excludes future repurchases). They expect adjusted gross margin to be slightly up versus last year despite tariff and logistics headwinds, adjusted SG&A dollars roughly flat, and adjusted operating margin to expand modestly from the FY25 level of 22.3% (guidance excludes about $25M of nonrecurring costs). The Q2 outlook calls for revenues down slightly (FX as of April 27) with Crocs +1%–3% and HEYDUDE -12%–14%, adjusted operating margin of ~24.7%, adjusted gross margin down ~150 bps y/y, and adjusted diluted EPS of $4.15–$4.35. Financial position and capital allocation assumptions include cash of $131M, >$800M revolver capacity, net leverage at the low end of the 1.0–1.5x target, inventory of $398M (up 2%) with footwear units down high-single-digits and annualized turns above 4x, capex of $70–80M, $747M remaining on the repurchase authorization and quarter-to-date repurchases of 800k shares for $74M; guidance also contemplates country-specific impacts from the Middle East conflict and higher distribution/transportation costs and does not assume upside from potential tariff refunds.Crocs Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
56
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.02B | 4.04B | 4.10B | 3.96B | 3.55B | 2.31B |
| Gross Profit | 2.34B | 2.30B | 2.41B | 2.18B | 1.86B | 1.42B |
| EBITDA | 946.49M | 966.91M | 1.09B | 1.09B | 893.89M | 717.47M |
| Net Income | -103.75M | -81.20M | 950.07M | 792.57M | 540.16M | 725.69M |
Balance Sheet | ||||||
| Total Assets | 4.34B | 4.17B | 4.81B | 4.64B | 4.50B | 1.55B |
| Cash, Cash Equivalents and Short-Term Investments | 130.88M | 130.35M | 180.49M | 149.29M | 191.63M | 213.26M |
| Total Debt | 1.73B | 1.61B | 1.70B | 2.00B | 2.59B | 963.56M |
| Total Liabilities | 2.92B | 2.88B | 2.98B | 3.19B | 3.68B | 1.53B |
| Stockholders Equity | 1.43B | 1.29B | 1.84B | 1.45B | 817.93M | 14.08M |
Cash Flow | ||||||
| Free Cash Flow | 670.66M | 659.20M | 923.14M | 814.82M | 498.95M | 511.25M |
| Operating Cash Flow | 724.52M | 710.43M | 992.49M | 930.44M | 603.14M | 567.16M |
| Investing Cash Flow | -53.86M | -51.23M | -69.35M | -115.67M | -2.15B | -55.92M |
| Financing Cash Flow | -708.08M | -714.57M | -886.05M | -859.64M | 1.53B | -429.64M |
Crocs Technical Analysis
Positive
105.87
Price Trends
93.50
Positive
90.68
Positive
87.08
Positive
Market Momentum
0.28
Positive
50.33
Neutral
17.10
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CROX, the sentiment is Positive. The current price of 105.87 is above the 20-day moving average (MA) of 101.32, above the 50-day MA of 93.50, and above the 200-day MA of 87.08, indicating a neutral trend. The MACD of 0.28 indicates Positive momentum. The RSI at 50.33 is Neutral, neither overbought nor oversold. The STOCH value of 17.10 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CROX.
Crocs Risk Analysis
Crocs disclosed 43 risk factors in its most recent earnings report. Crocs reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Crocs Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | $13.43B | 7.91 | 41.36% | ― | 8.99% | 14.67% | |
69 Neutral | $5.91B | 17.12 | 12.95% | ― | 20.35% | 54.59% | |
67 Neutral | $2.83B | 8.40 | 8.78% | 1.97% | 15.48% | -54.34% | |
64 Neutral | $1.26B | 16.13 | 26.91% | 2.28% | 8.31% | 39.91% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $4.82B | 7.59 | -7.54% | ― | -1.85% | -108.05% | |
52 Neutral | $370.14M | -4.37 | -1.16% | 2.11% | 1.29% | -107.28% |
* Consumer Cyclical Sector Average
CROX
Crocs
99.11
-13.71
-12.15%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.