Tearsheet

Crocs (CROX)


Market Price (9/14/2025): $77.57 | Market Cap: $4.3 Bil
Sector: Consumer Discretionary | Industry: Footwear

Crocs (CROX)


Market Price (9/14/2025): $77.57
Market Cap: $4.3 Bil
Sector: Consumer Discretionary
Industry: Footwear

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, FCF Yield is 18%
Weak multi-year price returns
2Y Excs Rtn is -65%, 3Y Excs Rtn is -64%
 
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 24%
Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%
 
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%
  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.5%, FCF Yield is 18%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 24%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 19%
3 Weak multi-year price returns
2Y Excs Rtn is -65%, 3Y Excs Rtn is -64%
4 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12%

Market Valuation

 9/14/252024202320222021
Share Price CYE$77.57$109.53$93.41$108.43$128.22
Market Cap CYE ($ Bil)4.36.35.76.77.5
Total Debt ($ Bil)1.81.72.02.61.0
Total Cash ($ Bil)0.20.20.10.20.2
Enterprise Value ($ Bil)5.98.07.79.38.5
Valuation Ratios     
P/S TTM1.11.61.41.93.5
P/EBIT TTM15.96.45.57.811.7
P/E TTM18.36.87.212.311.0
Sector Ratios     
P/S TTM (Sector)0.80.80.90.81.3
P/EBIT TTM (Sector)7.36.97.05.57.4
P/E TTM (Sector)9.68.18.97.39.2
 9/14/2520242023
Share Price CYE$77.57$109.53$93.41
Market Cap CYE ($ Bil)4.36.35.7
Total Debt ($ Bil)1.81.72.0
Total Cash ($ Bil)0.20.20.1
Enterprise Value ($ Bil)5.98.07.7
Valuation Ratios   
P/S TTM1.11.61.4
P/EBIT TTM15.96.45.5
P/E TTM18.36.87.2
Sector Ratios   
P/S TTM (Sector)0.80.80.9
P/EBIT TTM (Sector)7.36.97.0
P/E TTM (Sector)9.68.18.9

Business 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, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name. The company sells its products in approximately 85 countries through wholesalers, retail stores, e-commerce sites, and third-party marketplaces. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
CROX Return50%105%-15%-14%17%-29%85%
Peers Return30%18%-10%31%1%-20%48%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: NKE, LULU, DECK, SKX, FL. See CROX Returns vs. Peers.
[3] 2025 data is for the year up to 9/12/2025 (YTD)

Latest Trefis Analyses

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Peer Comparisons for Crocs

Financials

CROXNKELULUDECKSKXFLMedian
NameCrocs Nike Lululemo.Deckers .Skechers.Foot Loc. 
Mkt Price77.5772.96159.65118.6063.22-77.57
Mkt Cap4.3107.719.117.99.5-17.9
Rev LTM4,13946,30910,9044,9869,4127,8608,636
Op Inc LTM1,0033,7022,4951,1798371621,091
FCF LTM7693,2681,168958636864
FCF 3Y Avg7994,9191,279786395-2792
CFO LTM8373,6981,9121,045641221941
CFO 3Y Avg8875,6561,964872817238879

Growth & Margins

CROXNKELULUDECKSKXFLMedian
NameCrocs Nike Lululemo.Deckers .Skechers.Foot Loc. 
Rev Chg LTM2.0%-9.8%9.2%16.3%12.1%-3.6%5.6%
Rev Chg 3Y Avg14.5%0.0%15.8%16.5%10.9%-3.6%12.7%
Rev Chg Q3.4%-12.0%6.5%6.5%13.1%-2.3%4.9%
QoQ Delta Rev Chg LTM0.9%-3.2%1.4%1.3%3.1%-0.5%1.1%
Op Mgn LTM24.2%8.0%22.9%23.6%8.9%2.1%15.9%
Op Mgn 3Y Avg25.5%10.6%22.7%21.1%9.2%3.0%15.9%
QoQ Delta Op Mgn LTM-0.6%-2.3%-0.5%0.3%-0.6%-0.1%-0.5%
CFO/Rev LTM20.2%8.0%17.5%21.0%6.8%2.8%12.8%
CFO/Rev 3Y Avg22.0%11.3%19.8%20.0%9.7%2.9%15.6%
FCF/Rev LTM18.6%7.1%10.7%19.2%0.7%0.1%8.9%
FCF/Rev 3Y Avg19.8%9.8%12.9%17.9%4.8%-0.0%11.4%

Valuation

CROXNKELULUDECKSKXFLMedian
NameCrocs Nike Lululemo.Deckers .Skechers.Foot Loc. 
Mkt Cap4.3107.719.117.99.5-17.9
P/S1.02.31.83.61.0-1.8
P/EBIT15.929.17.714.411.3-14.4
P/E18.333.510.718.514.2-18.3
P/CFO5.229.110.017.214.8-14.8
Total Yield5.5%3.0%9.3%5.4%7.0%-16.8%5.4%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg11.4%3.9%3.6%4.4%4.1%0.1%4.0%
D/E0.40.10.10.00.2-0.1
Net D/E0.40.00.0-0.10.1-0.0

Returns

CROXNKELULUDECKSKXFLMedian
NameCrocs Nike Lululemo.Deckers .Skechers.Foot Loc. 
1M Rtn-8.6%-4.7%-19.4%15.1%0.2%--4.7%
3M Rtn-20.6%21.2%-33.1%16.8%1.1%-1.1%
6M Rtn-21.5%3.1%-48.6%-0.2%11.7%--0.2%
12M Rtn-39.9%-5.6%-40.1%-24.0%-6.2%--24.0%
3Y Rtn0.0%-27.3%-52.8%109.5%74.6%-0.0%
1M Excs Rtn-9.0%-6.8%-22.1%9.5%-1.6%--6.8%
3M Excs Rtn-34.2%7.9%-44.2%1.1%-8.2%--8.2%
6M Excs Rtn-41.8%-17.6%-67.6%-18.0%-6.5%--18.0%
12M Excs Rtn-58.1%-24.3%-55.1%-40.0%-22.5%--40.0%
3Y Excs Rtn-64.0%-94.7%-118.0%44.0%1.7%--64.0%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Crocs Brand3,0132,6592,313  
HEYDUDE Brand9498960  
Direct-to-consumer   693 
Wholesale   693656
E-commerce    227
Retail    347
Total3,9623,5552,3131,3861,231


Operating Income by Segment
$ Mil20242023202220212020
Crocs Brand1,079852861  
HEYDUDE Brand2122110  
Enterprise corporate costs-255-213-178  
Total1,037851683  


Price Behavior

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity6,418,914
Short Interest: % Change Since 8152025-7.8%
Average Daily Volume1,597,659
Days-to-Cover Short Interest4.02
Basic Shares Quantity55,783,000
Short % of Basic Shares11.5%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/7/2025-29.2%-20.7%-17.8%
5/8/20259.8%17.4%0.7%
2/13/202523.9%22.6%11.0%
10/29/2024-19.2%-23.0%-24.6%
8/1/2024-2.6%-6.1%8.1%
5/7/20247.8%12.9%16.9%
2/15/202412.2%8.2%18.3%
11/2/2023-5.3%-5.1%21.9%
...
SUMMARY STATS   
# Positive111012
# Negative111210
Median Positive9.8%10.6%15.3%
Median Negative-10.7%-15.8%-19.2%
Max Positive23.9%22.6%55.1%
Max Negative-29.2%-27.5%-45.6%

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Healy Susan L.EVP, Chief Financial Officer8142025Buy76.562,000153,1203,833,972Form
1REPLOGLE JOHN B 8132025Buy76.3033625,637953,165Form
2SMACH THOMAS J5132025Sell109.479,1391,000,44611,982,367Form
3Bickley Ian5132025Sell115.893,044352,7843,187,692Form
4SISLER SHANNONEVP, Chief People Officer2212025Sell109.754,659511,3253,215,565Form