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Crocs
(NASDAQ:CROX)
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Rating:72Outperform
Price Target:
$133.00
▲(8.23% Upside)
Action:Reiterated
Date:10/29/26
The score is driven primarily by strong financial performance—especially cash flow generation and solid current profitability—tempered by leverage and past earnings volatility. A constructive earnings call with raised guidance and margin expansion supports the outlook, while mixed technical signals and only neutral momentum keep the score from being higher; valuation is a positive contributor due to the low P/E.
Positive Factors
Cash Generation
Robust operating and free cash flow shows that reported earnings are converting into liquidity, giving Crocs capacity to fund brand investment, reduce debt, and repurchase shares. This cash-generation strength supports financial flexibility across the next several quarters.
Negative Factors
Limited Revenue Growth
A largely flat multi-year revenue profile limits operating leverage and makes future earnings more dependent on margins, cost actions, and capital returns. The modest guided growth rate suggests Crocs has not yet established a consistently strong top-line expansion trajectory.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Robust operating and free cash flow shows that reported earnings are converting into liquidity, giving Crocs capacity to fund brand investment, reduce debt, and repurchase shares. This cash-generation strength supports financial flexibility across the next several quarters.
Read all positive factors
Crocs Key Performance Indicators (KPIs)
Any
Store Count by Brand
Shows the number of physical stores for each brand under the company, indicating market presence and expansion strategy in various regions.
Shows the number of physical stores for each brand under the company, indicating market presence and expansion strategy in various regions.
Data provided by:
The Fly
The FlyCrocs (CROX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.74B
Dividend YieldN/A
Average Volume (3M)1.10M
Price to Earnings (P/E)10.3
Beta (1Y)0.74
Revenue Growth-2.03%
EPS Growth205.97%
CountryUS
Employees8,010
SectorConsumer Cyclical
Sector Strength84
IndustryApparel - Footwear & Accessories
Share Statistics
EPS (TTM)13.51
Shares Outstanding47,945,076
10 Day Avg. Volume999,589
30 Day Avg. Volume1,104,226
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 Cap1.31
Enterprise Value/Revenue1.83
Enterprise Value/Gross Profit3.08
Enterprise Value/Ebitda7.60
Forecast
1Y Price Target
$142.89Price Target Upside16.27% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)13.97
Revenue Forecast (FY)$4.10B
Crocs Business Overview & Revenue Model
Company Description
Crocs, Inc., along with its affiliated entities, specializes in the design, development, production, promotion, and distribution of everyday footwear and accessories for men, women, and children. Operating under its well-known Crocs brand, the com...
How the Company Makes Money
Crocs makes money primarily by selling branded footwear and accessories through two main channel types: direct-to-consumer (DTC) and wholesale. (1) Direct-to-consumer revenue is generated from sales made directly to end consumers via Crocs- and HE...
Crocs Earnings Call Summary
Earnings Call Date:Oct 29, 2026
(Q3-2026)
| Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call was strongly positive, with third-quarter revenue growth across both brands, record Crocs performance, HEYDUDE's return to growth, margin expansion, higher EPS, raised full-year guidance, and significant shareholder returns. The company also cited North America DTC headwinds, cautious wholesale partners, an uneven consumer environment, and ongoing HEYDUDE awareness and international-development challenges, but management expressed confidence in the growth trajectory and profitability outlook.Positive Updates
Enterprise Revenue Growth and Raised Full-Year Guidance
Third-quarter enterprise revenue exceeded $1 billion, up 5% year over year, with Crocs revenue up 4% and HEYDUDE revenue up 6%. Full-year 2026 revenue guidance was raised from up 1%-2% to up approximately 3%.
Negative Updates
Crocs North America Revenue Decline
Crocs North America revenue declined approximately 2% year over year in the third quarter, partly due to the previously communicated shift from the direct-to-consumer segment to wholesale.
Read all updates
Q3-2026 Updates
Positive
Negative
Enterprise Revenue Growth and Raised Full-Year Guidance
Third-quarter enterprise revenue exceeded $1 billion, up 5% year over year, with Crocs revenue up 4% and HEYDUDE revenue up 6%. Full-year 2026 revenue guidance was raised from up 1%-2% to up approximately 3%.
Read all positive updates
Company Guidance
For full year 2026, Crocs raised enterprise revenue guidance to up approximately 3% from up 1%-2%, with Crocs brand revenue up approximately 4% from up 2%-3% and HEYDUDE revenue approximately flat from down 2% to down 4%; adjusted diluted earnings per share is now expected in the range of $14.45-$14.65 versus $13.70-$14, adjusted gross margin is expected to be up slightly versus last year, adjusted SG&A dollars are implied slightly up to prior year, and adjusted operating margin is expected to expand modestly from 22.5%, excluding a non-GAAP net benefit of approximately $40 million associated with tariff refunds and our cost reduction initiatives, while GAAP tax, non-GAAP tax, and capital expenditure guidance are unchanged. For the fourth quarter, enterprise revenue is expected to be up 7%-9%, Crocs revenue up 6%-8%, HEYDUDE revenue up 10%-12%, adjusted operating margin approximately 20.5% with adjusted gross margin up approximately 200 basis points to prior year, and adjusted diluted earnings per share in the range of $3.25-$3.45; North America DTC is expected to face roughly 700-800 basis points of headwinds until the change is anniversaryed.Crocs Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
80
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.10B | 4.04B | 4.10B | 3.96B | 3.55B | 2.31B |
| Gross Profit | 2.44B | 2.36B | 2.41B | 2.18B | 1.86B | 1.42B |
| EBITDA | 988.18M | 240.55M | 1.09B | 1.09B | 893.89M | 717.47M |
| Net Income | 664.36M | -81.20M | 950.07M | 792.57M | 540.16M | 725.69M |
Balance Sheet | ||||||
| Total Assets | 4.28B | 4.17B | 4.81B | 4.64B | 4.50B | 1.55B |
| Cash, Cash Equivalents and Short-Term Investments | 163.46M | 130.35M | 180.49M | 149.29M | 191.63M | 213.26M |
| Total Debt | 374.07M | 1.61B | 1.70B | 2.00B | 2.59B | 963.56M |
| Total Liabilities | 2.94B | 2.88B | 2.98B | 3.19B | 3.68B | 1.53B |
| Stockholders Equity | 1.35B | 1.29B | 1.84B | 1.45B | 817.93M | 14.08M |
Cash Flow | ||||||
| Free Cash Flow | 753.99M | 659.20M | 923.14M | 814.82M | 498.95M | 511.25M |
| Operating Cash Flow | 813.72M | 710.43M | 992.49M | 930.44M | 603.14M | 567.16M |
| Investing Cash Flow | -59.73M | -51.23M | -69.35M | -115.67M | -2.15B | -55.92M |
| Financing Cash Flow | -742.70M | -714.57M | -886.05M | -859.64M | 1.53B | -429.64M |
Crocs Technical Analysis
Positive
122.89
Price Trends
119.37
Positive
124.42
Negative
109.26
Positive
Market Momentum
-0.11
Negative
49.79
Neutral
25.74
Neutral
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 122.89 is above the 20-day moving average (MA) of 119.05, above the 50-day MA of 119.37, and above the 200-day MA of 109.26, indicating a bullish trend. The MACD of -0.11 indicates Negative momentum. The RSI at 49.79 is Neutral, neither overbought nor oversold. The STOCH value of 25.74 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $11.00B | 10.68 | 43.56% | ― | 6.30% | 11.78% | |
72 Outperform | $5.74B | 10.27 | 43.41% | ― | -2.03% | 205.97% | |
70 Outperform | $5.62B | 15.42 | 12.12% | ― | 19.55% | 19.15% | |
66 Neutral | $1.61B | 15.05 | 26.26% | 2.04% | 7.16% | 24.85% | |
64 Neutral | $3.12B | 21.13 | 16.05% | 1.97% | 18.33% | 56.39% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $447.18M | 8.05 | 8.38% | 2.16% | 7.32% | -13.12% |
* Consumer Cyclical Sector Average
CROX
Crocs
119.69
37.15
45.01%
DECK
Deckers Outdoor
80.74
-0.15
-0.19%
SHOO
Steven Madden
42.68
9.05
26.90%
WWW
Wolverine World Wide
19.56
-2.97
-13.17%
CAL
Caleres
12.96
2.23
20.75%
BIRK
Birkenstock Holding plc
31.59
-8.64
-21.48%
Crocs Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
Crocs Delivers Record Q2 Results and Raises Guidance
Positive
Jul 30, 2026
On July 30, 2026, Crocs reported record second-quarter 2026 results, with consolidated revenue rising 2.6% to $1.18 billion and the Crocs brand surpassing $1 billion in quarterly sales for the first time. Direct-to-consumer revenue grew strongly w...
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.