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Makes high-speed cables and chips (SerDes/DSP) that connect servers inside AI data-center networks.
Makes high-speed cables and chips (SerDes/DSP) that connect servers inside AI data-center networks.
Sells cables with a signal-processing chip built into each connector, so a data-centre operator can link servers inside a rack without optical modules, and revenue recurs as customers reorder for each new build-out. It also licenses SerDes designs, the circuits that convert data to and from a high-speed serial signal. It is fabless: it designs products and contracts out manufacturing.
In one line: A high-speed-networking Astera Labs peer.
Moat: narrow (IP / patents, process know-how, customer qualification). Proprietary SerDes/DSP IP and multi-year design wins with hyperscalers, in a fast-moving, contested market.
Headquarters: San Jose, California, US · Founded: 2008 · Employees: 807
Size Credo Technology (CRDO) is a United States Information Technology company (Information Technology Services) with a market value of $22.7B, the 459th largest of 3,117 United States companies the cockpit tracks. Shares closed at $120.51 on 6 Nov 2026.
Performance Over six months the shares fell 36.1%, against +26.5% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 165.1% over the last twelve months (peer median +10.5%); the operating margin is 32.3% (peer median 10.1%).
Valuation It trades at 16.5× forward earnings against a peer median of 19.6× (7th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 47% a year for seven years (Req g). Recent delivered growth is +87%, so the hurdle is -39 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.6 points above its cost of capital (19.8% WACC).
Short interest Short interest is 5.2% of the free float (15 Oct 2026).
Next results Next results expected around 2 Dec 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.59B | $1.34B | $437M | $193M | $184M |
| Revenue growth | — | +206% | +126% | +5% | — |
| Gross profit | $1.07B | $908M | $283M | $119M | $106M |
| EBITDA | $564M | $480M | $59.9M | -$22.5M | -$9.31M |
| Net income | $538M | $472M | $52.2M | -$28.4M | -$16.5M |
| Free cash flow | $439M | $407M | $29.0M | $17.1M | -$46.3M |
| Capital expenditure | $61.8M | $57.3M | $36.1M | $15.7M | $21.7M |
| Total debt | $26.2M | $25.4M | $16.0M | $13.9M | $15.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Credo Technology CRDO | $22.7B | -36% | +165% | 32% | 16.5× | 47.4% |
| Marvell Technology MRVL | $124B | -17% | +31% | 17% | 25.0× | 54.4% |
| Astera Labs ALAB | $33.1B | -5% | +115% | 26% | 28.0× | n/a |
| Broadcom AVGO | $1.40T | -32% | +49% | 49% | 16.9× | 26.6% |
| Semtech SMTC | $9.63B | -15% | +18% | 12% | 19.1× | 51.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CRDO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -43.1% | +6.6% | lowest of 21 |
| 6-month return | -36.1% | +26.5% | lowest of 21 |
| Distance from 52-week high | -61.0% | -20.3% | lowest of 21 |
| Revenue growth (TTM) | +165.1% | +10.5% | highest of 21 |
| Operating margin | 32.3% | 10.1% | 2nd highest of 21 |
| Forward P/E | 16.5× | 19.6× | 7th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 47.4% | 5.0% | most demanding of 19 |
| Growth delivered (Del g) | +86.8% | +8.3% | highest of 19 |
| Hurdle (Req g minus delivered) | -39.4 pp | -0.5 pp | least demanding of 19 |
| ROIC minus cost of capital | +0.6 pp | +6.9 pp | 5th lowest of 20 |
| EV / EBITDA | 38.9× | 11.9× | 2nd most expensive of 15 |
| Net debt / EBITDA | -1.3× | 0.5× | 3rd least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Credo Technology CRDO | United States | $22.7B | -36% | +165% | 32% | 16.5× | 47.4% | +86.8% |
| Rubrik RBRK | United States | $21.9B | +70% | +42% | -18% | 215.0× | 36.2% | +27.7% |
| Capgemini CAP.PA | France | $24.1B | +31% | +6% | 11% | 10.4× | -0.1% | +7.2% |
| Wipro WIPRO.NS | India | $20.7B | 0% | +8% | 16% | 14.9× | 9.0% | +8.4% |
| Nomura Research Institute 4307.T | Japan | $20.2B | +40% | +8% | 19% | 26.4× | 0.7% | +8.2% |
| HP Inc. HPQ | United States | $25.7B | +27% | +9% | 7% | 9.5× | -7.0% | -0.4% |
| CDW CDW | United States | $19.6B | +51% | +11% | 7% | 12.9× | 2.6% | +4.0% |
| Tech Mahindra TECHM.NS | India | $19.0B | +26% | +14% | 14% | 23.9× | 20.3% | +8.5% |
| Cognizant CTSH | United States | $28.9B | +26% | +5% | -1% | 10.5× | 0.8% | +4.9% |
| CGI GIB-A.TO | Canada | $17.2B | +27% | +6% | 17% | 12.2× | -12.0% | +5.5% |
| OBIC 4684.T | Japan | $16.6B | +46% | +13% | 67% | 30.3× | 4.6% | +10.0% |
| Fujitsu 6702.T | Japan | $35.4B | +1% | +4% | 10% | 18.0× | 4.1% | -0.5% |
| Nec 6701.T | Japan | $36.3B | +5% | +7% | 12% | 18.6× | 5.5% | +3.7% |
| CACI International CACI | United States | $13.6B | +27% | +10% | 10% | 17.6× | 7.3% | +9.6% |
| Bentley Systems BSY | United States | $13.5B | +36% | +13% | 24% | 31.4× | 22.8% | +13.4% |
| Guidewire Software GWRE | United States | $13.3B | +17% | +23% | 10% | 38.5× | 39.4% | +14.7% |
| iflytek 002230.SZ | China | $13.2B | -20% | +11% | -4% | 106.3× | n/a | n/a |
| Samsung Sds 018260.KS | South Korea | $12.4B | +31% | +2% | 5% | 24.9× | 13.0% | +4.8% |
| HCL Technologies HCLTECH.NS | India | $41.4B | +22% | +13% | 18% | 19.5× | 11.8% | +11.5% |
| Ruijie Networks 301165.SZ | China | $11.7B | +6% | +30% | 5% | 48.3× | n/a | n/a |
| Indra Sistemas IDR.MC | Spain | $11.2B | +12% | +28% | 10% | 19.7× | 4.2% | +12.4% |