Crocs Inc

CROX

Equity

ISIN null / Valor 2404471

NASDAQ (2026-06-03)

USD 118.48+1.39%

Crocs Inc
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About company

Crocs, Inc., headquartered in Broomfield, Colorado, is a globally recognized company specializing in innovative casual footwear for women, men, and children. The company prides itself on a blend of comfort, style, and value, a formula that has resonated well with consumers worldwide. Crocs, Inc.'s portfolio includes its flagship Crocs brand, known for its distinctive clogs, as well as HEYDUDE, a brand that adds to the company's diverse footwear offerings. With a presence in more than 85 countries, Crocs leverages both wholesale and direct-to-consumer sales channels to reach its extensive customer base. The company operates with a significant global footprint, maintaining regional offices in Boston, Massachusetts, Hoofdorp, The Netherlands, and Singapore, and employs a workforce of over 6,000 individuals. This international operation ensures that Crocs' products, celebrated for their unique blend of comfort and style, are accessible on a global scale, from the streets of New York City to Shanghai and Berlin.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue trends

Consolidated revenues: Q4 2025 $957.6M, down 3.2% year-over-year (down 4.2% cc). Full-year 2025 revenue $4.041B, down 1.5% (down 1.7% cc). Direct-to-consumer grew (Q4 DTC +4.7%; FY DTC +3.3%), while wholesale weakened (Q4 wholesale -14.5%; FY wholesale -6.2%).

Profitability & margins

Gross margin: Q4 GAAP 54.7% vs 57.9% a year ago (adjusted gross margin also 54.7%, -320 bps). FY gross margin 58.3% vs 58.8% (-50 bps). GAAP operating margin fell to 15.3% in Q4 (from 20.2%) and to 3.7% for the year (from 24.9%) primarily due to impairment charges; adjusted operating margin was 16.8% in Q4 and 22.3% for FY2025.

EPS and impairments

Q4 diluted EPS (GAAP) was $2.03, down 68% YoY; adjusted diluted EPS was $2.29 (down 9.1% YoY). Full-year GAAP result was a loss per share of $1.50 (driven by ~ $737M of HEYDUDE-related impairments); full-year adjusted diluted EPS was $12.51 (down ~5.0%).

Cash flow, buybacks and debt

Operating cash flow ~ $710M for FY2025 and free cash flow $659.2M. Company repurchased ~6.5M shares for $577M in 2025 (2.2M / $180M in Q4) and repaid $128M of debt during the year; year-end cash & equivalents $130M and total borrowings $1.231B. ~$747M of repurchase authorization remained.

Brand & regional performance

Crocs Brand outperformed HEYDUDE: Q4 Crocs Brand revenue $768.4M (up 0.8% YoY; international +14.1%, North America -7.4%). HEYDUDE Q4 revenue $189.3M, down 16.9% (wholesale sharply lower; DTC roughly flat).

Balance sheet and inventory

Year-end cash $130M (vs $180M prior year), inventories $368.7M (slightly up), intangible assets and goodwill declined reflecting impairments (intangible assets down to $1.324B; goodwill to $404.7M). Total assets $4.175B; total liabilities $2.881B.

2026 outlook

Q1 2026: revenue expected down ~5.5% to 3.5% vs Q1 2025; adjusted diluted EPS $2.67–$2.77; adjusted operating margin ~21.5%. Full-year 2026: revenue roughly flat to down ~1% (Crocs Brand flat to +2%; HEYDUDE down ~7–9%); adjusted diluted EPS $12.88–$13.35; adjusted operating margin to expand modestly from 22.3%; GAAP tax ~23%, adjusted tax ~18%.

Management actions

Management highlighted ~$700M of operating cash flow, repurchases and debt paydown, identified $100M of cost savings to drive efficiency in 2026, and expects roughly $25M of non‑GAAP adjustments in 2026 related to supply-chain optimization and cost-savings execution.

Summarized from source with an LLMView Source

Key figures

16.0%1Y

7.67%3Y

17.3%5Y

Performance

54.9%1Y

51.8%3Y

55.6%5Y

Volatility