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Casual footwear brand known for its foam clog shoes, also owns the HEYDUDE casual/lifestyle footwear brand.
Casual footwear brand known for its foam clog shoes, also owns the HEYDUDE casual/lifestyle footwear brand.
Sells shoes made by contract factories, mostly in Southeast Asia, through department stores, retailers, its own website and shops, and Jibbitz charms add high-margin extras. The 2022 purchase of HEYDUDE added a second brand, mostly sold through wholesale retailers, whose sales have been shrinking.
Moat: narrow (brand, IP / patents). Distinctive, patented clog design and strong brand recognition sustain a differentiated niche.
Headquarters: Broomfield, Colorado, US · Founded: 2002 · Employees: 8,010
Size Crocs (CROX) is a United States Consumer Discretionary company (Apparel/Footwear) with a market value of $6.94B, the 965th largest of 3,117 United States companies the cockpit tracks. Shares closed at $151.86 on 6 Nov 2026.
Performance Over six months the shares gained 46.5%, against +3.7% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue grew 0.7% over the last twelve months (peer median +6.4%); the operating margin is 22.6% (peer median 13.5%).
Valuation It trades at 9.6× forward earnings against a peer median of 14.4× (2nd cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is -23 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 14.8 points above its cost of capital (11.0% WACC).
Credit Crocs has 2 bonds outstanding ($700M), rated BB by the agencies and trading like BB at a weighted spread of 154 bp.
Short interest Short interest is 9.5% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.10B | $4.04B | $4.10B | $3.96B | $3.55B |
| Revenue growth | — | -1% | +4% | +11% | — |
| Gross profit | $2.44B | $2.30B | $2.36B | $2.18B | $1.83B |
| EBITDA | $1.01B | $967M | $1.09B | $1.10B | $917M |
| Net income | $664M | -$81.2M | $950M | $793M | $540M |
| Free cash flow | $754M | $659M | $923M | $815M | $499M |
| Capital expenditure | $59.7M | $51.2M | $69.3M | $116M | $104M |
| Total debt | $1.66B | $1.61B | $1.70B | $2.00B | $2.59B |
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 |
|---|---|---|---|---|---|---|
| Crocs CROX | $6.94B | +47% | +1% | 23% | 9.6× | 1.1% |
| Deckers Brands DECK | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% |
| Birkenstock BIRK | $6.64B | -5% | +20% | 24% | 13.9× | 7.4% |
| Nike NKE | $57.3B | -13% | -1% | 9% | 30.4× | 7.0% |
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 | CROX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +30.0% | +11.2% | 2nd highest of 21 |
| 6-month return | +46.5% | +3.7% | highest of 21 |
| Distance from 52-week high | -6.2% | -15.9% | 3rd highest of 21 |
| Revenue growth (TTM) | +0.7% | +6.4% | 7th lowest of 21 |
| Operating margin | 22.6% | 13.5% | 3rd highest of 21 |
| Forward P/E | 9.6× | 14.4× | 2nd cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 1.1% | 6.5% | 9th least demanding of 20 |
| Growth delivered (Del g) | +23.9% | +11.4% | highest of 20 |
| Hurdle (Req g minus delivered) | -22.7 pp | -7.2 pp | 2nd least demanding of 20 |
| ROIC minus cost of capital | +14.8 pp | +7.4 pp | 6th highest of 21 |
| EV / EBITDA | 8.4× | 9.9× | 6th cheapest of 17 |
| Net debt / EBITDA | 1.5× | 1.5× | 9th least indebted of 17 |
| Bond spread | 154 bp | 144 bp | 2nd widest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Crocs CROX | United States | $6.94B | +47% | +1% | 23% | 9.6× | 1.1% | +23.9% |
| Huali Industrial 300979.SZ | China | $7.09B | +6% | -10% | 14% | 19.7× | -4.4% | +12.4% |
| Bosideng International 3998.HK | Hong Kong | $6.64B | +3% | +8% | 18% | 10.3× | -10.8% | +14.2% |
| Birkenstock BIRK | United States | $6.64B | -5% | +20% | 24% | 13.9× | 7.4% | +19.9% |
| Brunello Cucinelli BC.MI | Italy | $6.61B | +4% | +10% | 18% | 37.8× | 20.6% | +20.9% |
| Gildan Activewear GIL.TO | Canada | $6.48B | -40% | +40% | 15% | 6.8× | 6.5% | +13.7% |
| V.F VFC | United States | $8.01B | +7% | -2% | 8% | 16.6× | 11.1% | +0.8% |
| Shenzhou Intl 2313.HK | Hong Kong | $8.08B | -7% | +2% | 16% | 11.8× | -4.5% | +5.4% |
| Ermenegildo Zegna ZGN | United States | $5.96B | +7% | +11% | 9% | 31.1× | 20.3% | +11.3% |
| Youngor Fashion 600177.SS | China | $5.69B | +10% | -5% | -3% | 12.8× | 23.3% | +0.1% |
| Levi Strauss & LEVI | United States | $8.77B | +1% | +5% | 13% | 14.6× | 5.2% | +7.1% |
| Burberry BRBY.L | United Kingdom | $5.38B | -4% | -2% | 7% | 28.8× | 19.1% | +0.6% |
| Li Ning 2331.HK | Hong Kong | $5.10B | -21% | +7% | 13% | 14.4× | -5.4% | +14.6% |
| Abc-mart 2670.T | Japan | $5.03B | +20% | +4% | 17% | 16.2× | -10.0% | +11.4% |
| Fosun International 0656.HK | Hong Kong | $4.82B | +11% | -1% | 3% | 12.9× | 10.6% | +4.1% |
| HLA 600398.SS | China | $4.47B | -6% | +7% | 11% | 14.3× | -13.1% | +3.8% |
| Puma PUM.DE | Germany | $4.42B | +4% | -19% | -6% | n/a | n/a | n/a |
| Page Industries PAGEIND.NS | India | $4.22B | -4% | +8% | 19% | 46.8× | 27.7% | +13.1% |
| Kontoor Brands KTB | United States | $4.21B | +5% | +16% | 13% | 13.2× | 1.1% | +8.5% |
| K.P.R. Mill KPRMILL.NS | India | $4.21B | +19% | +6% | 18% | 34.8× | 29.9% | +13.3% |
| Deckers Brands DECK | United States | $11.6B | -14% | +6% | 23% | 11.0× | -3.3% | +16.5% |
Crocs has 2 bonds outstanding with $700M face value. The agencies rate it BB; its bonds trade like BB. Weighted yield 6.09%, a spread of 154 bp over government bonds.