CROX

MKT CAP:$5B

Crocs, Inc.

Market Cap

$5B

Consumer Cyclical·Apparel - Footwear & Accessories·🇺🇸 United States·NASDAQ

Consumer Cyc.·Apparel·🇺🇸·NASDAQ

Stock Price

$104.22+$17.27 (+19.86%)

Apr 23, 2026

Company Details

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, sl...

CEO

Andrew Rees

IPO Date

Feb 8, 2006

Website

www.crocs.com

Key Metrics TTM

Revenue

$4.0B

-1.5% YoY

Net Income

-$81M

EPS (Diluted)

-$1.26

Free Cash Flow

$659M

Revenue / Share

$78.10

Gross Margin

58.3%

Operating Margin

3.7%

Net Margin

-2.0%

FCF Margin

16.3%

P/S

1.3x

P/E

—

Earnings Reports

Q1 2026

Apr 30, 2026

PENDING

Q4 2025

Feb 12, 2026

$958M-3.2%EPS $2.03

Q3 2025

Oct 30, 2025

$996M-6.2%EPS $2.70

Q2 2025

Aug 7, 2025

$1.1B+3.4%EPS -$8.82

Q1 2025

May 8, 2025

$937M-0.1%EPS $2.83

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$660M	$325M	$119M
Q2 22	$965M	$498M	$248M
Q3 22	$985M	$541M	$264M
Q4 22	$945M	$496M	$220M
Q1 23	$884M	$476M	$235M
Q2 23	$1.1B	$621M	$318M
Q3 23	$1.0B	$582M	$274M
Q4 23	$960M	$531M	$210M
Q1 24	$939M	$522M	$226M
Q2 24	$1.1B	$682M	$326M
Q3 24	$1.1B	$633M	$270M
Q4 24	$990M	$573M	$200M
Q1 25	$937M	$542M	$223M
Q2 25	$1.1B	$709M	-$428M
Q3 25	$996M	$583M	$208M
Q4 25	$958M	$524M	$146M

Valuation

Quarter	P/S	P/E
Q1 22	2.1x	7.6x
Q2 22	1.9x	9.8x
Q3 22	1.7x	9.5x
Q4 22	1.5x	9.8x
Q1 23	1.4x	8.6x
Q2 23	1.4x	7.9x
Q3 23	1.3x	7.9x
Q4 23	1.3x	6.7x
Q1 24	1.3x	6.7x
Q2 24	1.3x	6.5x
Q3 24	1.3x	6.4x
Q4 24	1.3x	5.6x
Q1 25	1.3x	5.5x
Q2 25	1.3x	22.5x
Q3 25	1.3x	29.1x
Q4 25	1.3x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$69M	-$109M
Q2 22	$154M	$137M
Q3 22	$162M	$129M
Q4 22	$356M	$342M
Q1 23	$10M	-$18M
Q2 23	$321M	$297M
Q3 23	$250M	$215M
Q4 23	$350M	$320M
Q1 24	-$28M	-$43M
Q2 24	$401M	$384M
Q3 24	$297M	$279M
Q4 24	$322M	$303M
Q1 25	-$67M	-$83M
Q2 25	$286M	$269M
Q3 25	$239M	$226M
Q4 25	$253M	$246M

Capital Expenditures

Quarter	CapEx
Q1 22	$40M
Q2 22	$17M
Q3 22	$33M
Q4 22	$15M
Q1 23	$28M
Q2 23	$24M
Q3 23	$35M
Q4 23	$29M
Q1 24	$16M
Q2 24	$17M
Q3 24	$18M
Q4 24	$18M
Q1 25	$15M
Q2 25	$17M
Q3 25	$13M
Q4 25	$6M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+43.5%	+61.4%
Q2 22	+50.5%	+60.9%
Q3 22	+57.4%	+70.5%
Q4 22	+61.1%	+70.0%
Q1 23	+33.9%	+19.9%
Q2 23	+11.2%	+5.2%
Q3 23	+6.2%	+7.1%
Q4 23	+1.6%	+3.5%
Q1 24	+6.2%	+9.7%
Q2 24	+3.6%	+4.2%
Q3 24	+1.6%	+2.7%
Q4 24	+3.1%	+5.2%
Q1 25	-0.1%	+0.3%
Q2 25	+3.4%	+100.7%
Q3 25	-6.2%	-0.5%
Q4 25	-3.2%	+2.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$8M	1.3%
Q2 22	$9M	1.0%
Q3 22	$8M	0.8%
Q4 22	$6M	0.6%
Q1 23	$7M	0.8%
Q2 23	$8M	0.8%
Q3 23	$8M	0.7%
Q4 23	$6M	0.6%
Q1 24	$8M	0.8%
Q2 24	$10M	0.9%
Q3 24	$7M	0.6%
Q4 24	$9M	0.9%
Q1 25	$9M	0.9%
Q2 25	$11M	1.0%
Q3 25	$8M	0.9%
Q4 25	$8M	0.9%

OpEx Breakdown

Quarter	R&D	S&M	SG&A
Q1 22	—	—	$206M
Q2 22	—	—	$250M
Q3 22	—	—	$277M
Q4 22	—	$261M	—
Q1 23	—	—	$241M
Q2 23	—	—	$303M
Q3 23	—	—	$308M
Q4 23	$21M	—	$312M
Q1 24	—	—	$296M
Q2 24	—	—	$356M
Q3 24	—	—	$364M
Q4 24	$26M	$378M	—
Q1 25	—	—	$319M
Q2 25	—	—	$1.1B
Q3 25	—	—	$375M
Q4 25	—	—	$343M

Revenue Segments

Quarter	Crocs Brand Segment	HEYDUDE Brand Segment
Q1 22	$545M	$115M
Q2 22	$732M	$232M
Q3 22	$716M	$269M
Q4 22	$666M	$279M
Q1 23	$649M	$235M
Q2 23	$833M	$239M
Q3 23	$799M	$247M
Q4 23	$732M	$228M
Q1 24	$744M	$195M
Q2 24	$914M	$198M
Q3 24	$858M	$204M
Q4 24	$762M	$228M
Q1 25	$762M	$176M
Q2 25	$960M	$190M
Q3 25	$836M	$160M
Q4 25	$768M	$189M

Revenue by Geography

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$172M	$0	$172M
Q2 22	$187M	$0	$187M
Q3 22	$143M	$0	$143M
Q4 22	$192M	$0	$192M
Q1 23	$126M	$0	$126M
Q2 23	$166M	$0	$166M
Q3 23	$127M	$0	$127M
Q4 23	$149M	$0	$149M
Q1 24	$159M	$0	$159M
Q2 24	$168M	$0	$168M
Q3 24	$186M	$0	$186M
Q4 24	$180M	$0	$180M
Q1 25	$166M	$0	$166M
Q2 25	$201M	$0	$201M
Q3 25	$154M	$0	$154M
Q4 25	$130M	$0	$130M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	61M	+1.3%	-8.9%
Q2 22	62M	+2.2%	-3.7%
Q3 22	62M	+0.2%	-1.5%
Q4 22	63M	+0.2%	+3.9%
Q1 23	63M	+0.2%	+2.8%
Q2 23	63M	-0.0%	+0.6%
Q3 23	62M	-1.6%	-1.2%
Q4 23	61M	-1.0%	-2.4%
Q1 24	61M	+0.1%	-2.5%
Q2 24	61M	-0.5%	-2.9%
Q3 24	60M	-2.1%	-3.4%
Q4 24	58M	-2.5%	-4.8%
Q1 25	57M	-2.6%	-7.5%
Q2 25	56M	-1.0%	-7.9%
Q3 25	55M	-1.4%	-7.3%
Q4 25	52M	-6.2%	-10.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$114.4K	6K
Q2 22	$167.2K	6K
Q3 22	$170.7K	6K
Q4 22	$141.5K	7K
Q1 23	$132.4K	7K
Q2 23	$160.5K	7K
Q3 23	$156.5K	7K
Q4 23	$136.6K	7K
Q1 24	$133.5K	7K
Q2 24	$158.1K	7K
Q3 24	$151.1K	7K
Q4 24	$125.1K	8K
Q1 25	$118.5K	8K
Q2 25	$145.3K	8K
Q3 25	$126.0K	8K
Q4 25	$119.6K	8K

Revenue / Employee