Crocs (CROX)
NASDAQ:CROX
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Crocs
(NASDAQ:CROX)
Select Model
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Rating:62Neutral
Price Target:
$89.00
▼(-1.62% Downside)
Action:ReiteratedDate:02/14/26
The score is driven primarily by solid underlying cash generation and improved leverage, but it is held back by the sharp deterioration in the latest reported results and conservative near-term guidance (including HeyDude weakness and tariff pressure). Technicals are supportive with price above major averages, while valuation is less favorable at ~27x earnings without a dividend.
Positive Factors
Cash Generation
Sizable and historically consistent free cash flow provides durable internal funding for debt paydown, share repurchases and capex. That recurring cash generation supports capital allocation flexibility and cushions the business through cyclical apparel demand swings over the next 2–6 months.
Negative Factors
Earnings Volatility
A large swing to a net loss and significant revenue deterioration weaken earnings quality and raise uncertainty around sustainable profitability. Persistent volatility can depress returns, constrain reinvestment, and complicate planning for suppliers, inventory and long-term margin recovery.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Sizable and historically consistent free cash flow provides durable internal funding for debt paydown, share repurchases and capex. That recurring cash generation supports capital allocation flexibility and cushions the business through cyclical apparel demand swings over the next 2–6 months.
Read all positive factors
Crocs (CROX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.88B
Dividend YieldN/A
Average Volume (3M)1.21M
Price to Earnings (P/E)―
Beta (1Y)0.77
Revenue Growth<0.01%
EPS Growth-77.31%
CountryUS
Employees7,910
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)2.29
Shares Outstanding50,233,597
10 Day Avg. Volume972,358
30 Day Avg. Volume1,208,534
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 Cap1.34
Enterprise Value/Revenue1.61
Enterprise Value/Gross Profit2.77
Enterprise Value/Ebitda19.05
Forecast
1Y Price Target
$101.44Price Target Upside12.13% Upside
Rating ConsensusHold
Number of Analyst Covering11
EPS Forecast (FY)13.29
Revenue Forecast (FY)$4.04B
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 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 Earnings Call Summary
Earnings Call Date:Feb 12, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: clear operational and strategic strengths (strong free cash flow, large share repurchases, DTC and international growth, product and marketing momentum, and identified cost savings) were counterbalanced by near-term revenue softness (enterprise down ~2%), pronounced weakness at HeyDude (double-digit declines and wholesale cleanup), margin pressure from tariffs, and conservative near-term guidance. Management emphasized that many 2025 strategic actions will continue to weigh on early 2026 results but positioned the company for improvement in the back half of the year.Positive Updates
Full-Year Revenue and Brand Mix
Enterprise revenue for FY2025 was just over $4.0 billion, with the Crocs brand at approximately $3.3 billion and HeyDude at $715 million; Crocs brand grew for the eighth consecutive year.
Negative Updates
Enterprise and Segment Revenue Pressure
Enterprise revenue declined approximately 2% for FY2025; Q4 revenue was ~$958 million, down 4% year-over-year. HeyDude revenue declined 14% for the year and Q4 HeyDude fell 18%.
Read all updates
Q4-2025 Updates
Positive
Negative
Full-Year Revenue and Brand Mix
Enterprise revenue for FY2025 was just over $4.0 billion, with the Crocs brand at approximately $3.3 billion and HeyDude at $715 million; Crocs brand grew for the eighth consecutive year.
Read all positive updates
Company Guidance
For fiscal 2026 the company guided enterprise revenue to be roughly flat to down 1% (reported, FX as of Feb 9), with Crocs brand revenue flat to up ~2% (including ~10% international growth offset by North America declines) and HeyDude revenue down roughly 7–9%; management expects DTC to outperform wholesale and the second half to outpace the first half. They expect adjusted gross margin to be up slightly versus 2025 despite an incremental tariff pressure of about 80 basis points (an unmitigated ~$80M annualized headwind, improved from $90M); quarterly tariff pressure is guided at ~100 bps in Q1 and ~200 bps in Q2. Adjusted SG&A dollars are expected to be roughly flat, adjusted operating margin to expand modestly from 22.3% (excluding approximately $25M of discrete implementation costs), and adjusted diluted EPS is guided to $12.88–$13.35 (non‑GAAP tax rate ~18%, GAAP ~23%). For Q1, revenues are expected down 3.5–5.5% (Crocs down low single digits; HeyDude down 15–18%), Q1 adjusted operating margin ~21.5% and Q1 adjusted diluted EPS $2.67–$2.77. The company plans $70–80M of capex, intends to maintain net leverage of 1.0–1.5x while opportunistically buying back shares (guidance assumes future debt repayment but not further repurchases), and has identified $100M of cost savings for 2026 (balanced between COGS and SG&A).Crocs Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
62
Positive
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.04B | 4.10B | 3.96B | 3.55B | 2.31B |
| Gross Profit | 2.36B | 2.41B | 2.18B | 1.86B | 1.42B |
| EBITDA | 979.22M | 1.09B | 1.09B | 893.89M | 717.47M |
| Net Income | -81.20M | 950.07M | 792.57M | 540.16M | 725.69M |
Balance Sheet | |||||
| Total Assets | 4.17B | 4.81B | 4.64B | 4.50B | 1.55B |
| Cash, Cash Equivalents and Short-Term Investments | 130.35M | 180.49M | 149.29M | 191.63M | 213.26M |
| Total Debt | 1.61B | 1.70B | 2.00B | 2.59B | 963.56M |
| Total Liabilities | 2.88B | 2.98B | 3.19B | 3.68B | 1.53B |
| Stockholders Equity | 1.29B | 1.84B | 1.45B | 817.93M | 14.08M |
Cash Flow | |||||
| Free Cash Flow | 659.20M | 923.14M | 814.82M | 498.95M | 511.25M |
| Operating Cash Flow | 710.43M | 992.49M | 930.44M | 603.14M | 567.16M |
| Investing Cash Flow | -51.23M | -69.35M | -115.67M | -2.15B | -55.92M |
| Financing Cash Flow | -714.57M | -886.05M | -859.64M | 1.53B | -429.64M |
Crocs Technical Analysis
Positive
90.47
Price Trends
86.06
Positive
85.66
Positive
87.32
Positive
Market Momentum
1.24
Negative
74.11
Negative
94.53
Negative
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 90.47 is above the 20-day moving average (MA) of 81.67, above the 50-day MA of 86.06, and above the 200-day MA of 87.32, indicating a bullish trend. The MACD of 1.24 indicates Negative momentum. The RSI at 74.11 is Negative, neither overbought nor oversold. The STOCH value of 94.53 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CROX.
Crocs Risk Analysis
Crocs disclosed 42 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 | $15.10B | 7.91 | 41.36% | ― | 12.38% | 18.43% | |
72 Outperform | $6.80B | 32.23 | 13.87% | ― | 18.86% | 88.29% | |
62 Neutral | $4.88B | -57.09 | -5.37% | ― | <0.01% | -77.31% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $1.37B | 15.53 | 26.62% | 2.28% | 3.61% | ― | |
56 Neutral | $2.71B | 66.08 | 5.21% | 1.97% | 6.26% | -66.51% | |
54 Neutral | $370.57M | -56.33 | -1.16% | 2.11% | -2.83% | -86.19% |
* Consumer Cyclical Sector Average
CROX
Crocs
97.08
-2.51
-2.52%
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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.