Crocs (CROX) financial statements
Crocs reported revenue of $4.0B in fiscal 2025, up 16.3% a year over 9 years.
Net income was -$81M and the operating margin 3.7%, against -0.6% in 2016.
Free cash flow was $659M, and the company returned $582M in net buybacks.
The diluted share count fell 26% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Crocs's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0B | $1.0B | $1.1B | $1.2B | $1.4B | $2.3B | $3.6B | $4.0B | $4.1B | $4.0B |
| Cost of revenue | $536M | $506M | $528M | $614M | $636M | $893M | $1.7B | $1.8B | $1.7B | $1.7B |
| Gross profit | $500M | $517M | $560M | $617M | $750M | $1.4B | $1.9B | $2.2B | $2.4B | $2.4B |
| Research and development | $12M | $13M | $14M | $12M | $10M | $14M | $19M | $21M | $26M | $30M |
| Selling, general and admin | $503M | $495M | $495M | $488M | $515M | $737M | $1.0B | $1.2B | $1.4B | $1.5B |
| Operating income | -$6M | $17M | $63M | $129M | $214M | $683M | $851M | $1.0B | $1.0B | $150M |
| Interest expense | $836,000 | $869,000 | $955,000 | $9M | $7M | $22M | $136M | $161M | $109M | $88M |
| Pre-tax income | -$7M | $18M | $65M | $119M | $207M | $664M | $719M | $876M | $911M | $73M |
| Income tax | $9M | $8M | $15M | -$175,000 | -$106M | -$62M | $178M | $84M | -$39M | $154M |
| Net income | -$16M | $10M | $50M | $119M | $313M | $726M | $540M | $793M | $950M | -$81M |
| EPS (diluted) | -$0.43 | -$0.07 | -$1.01 | $1.66 | $4.56 | $11.39 | $8.71 | $12.79 | $15.88 | -$1.50 |
| Diluted shares | 73M | 72M | 68M | 72M | 69M | 64M | 62M | 62M | 60M | 54M |
| Gross margin | 48.3% | 50.5% | 51.5% | 50.1% | 54.1% | 61.4% | 52.3% | 55.8% | 58.8% | 58.3% |
| Operating margin | -0.6% | 1.7% | 5.8% | 10.5% | 15.4% | 29.5% | 23.9% | 26.2% | 24.9% | 3.7% |
| Net margin | -1.6% | 1.0% | 4.6% | 9.7% | 22.6% | 31.4% | 15.2% | 20.0% | 23.2% | -2.0% |
Balance sheet
Fiscal years, from Crocs's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $148M | $172M | $123M | $108M | $136M | $213M | $192M | $149M | $180M | $130M |
| Receivables | $78M | $84M | $98M | $108M | $150M | $183M | $296M | $306M | $258M | $278M |
| Inventory | $147M | $130M | $124M | $172M | $175M | $214M | $472M | $385M | $356M | $369M |
| Total current assets | $425M | $425M | $380M | $425M | $493M | $667M | $1.0B | $911M | $872M | $886M |
| Property, plant and equipment | $44M | $35M | $22M | $47M | $57M | $108M | $182M | $238M | $244M | $238M |
| Goodwill | $1M | $2M | $2M | $2M | $2M | $2M | $715M | $712M | $711M | $405M |
| Total assets | $566M | $544M | $469M | $739M | $1.1B | $1.5B | $4.5B | $4.6B | $4.8B | $4.2B |
| Total current liabilities | $149M | $157M | $184M | $257M | $292M | $388M | $641M | $698M | $740M | $700M |
| Long-term debt | $40,000 | $0 | $120M | $205M | $180M | $771M | $2.3B | $1.6B | $1.3B | $1.2B |
| Total liabilities | $167M | $175M | $319M | $607M | $828M | $1.5B | $3.7B | $3.2B | $3.0B | $2.9B |
| Shareholders' equity | $220M | $186M | $150M | $132M | $291M | $14M | $818M | $1.5B | $1.8B | $1.3B |
| Net debt | -$148M | -$171M | -$3M | $97M | $44M | $558M | $2.1B | $1.5B | $1.2B | $1.1B |
Cash flow
Fiscal years, from Crocs's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $40M | $98M | $114M | $90M | $267M | $567M | $603M | $930M | $992M | $710M |
| Capital spending | $22M | $13M | $12M | $37M | $42M | $56M | $104M | $116M | $69M | $51M |
| Free cash flow | $18M | $85M | $102M | $53M | $225M | $511M | $499M | $815M | $923M | $659M |
| Stock-based compensation | $11M | $10M | $13M | $14M | $16M | $38M | $31M | $29M | $33M | $37M |
| Share buybacks (net) | $0 | -$50M | -$63M | -$147M | -$171M | -$1.0B | $0 | -$175M | -$552M | -$582M |
| Net borrowing | — | — | — | $0 | $0 | $700M | $0 | $0 | — | — |
| Free cash flow margin | 1.7% | 8.3% | 9.4% | 4.3% | 16.2% | 22.1% | 14.0% | 20.6% | 22.5% | 16.3% |
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Open CROX in InvestinglyQuestions
What was Crocs's revenue in 2025?
$4.0B in fiscal 2025, from its 10-K filing.
How much free cash flow does Crocs generate?
$659M in fiscal 2025 (operating cash flow minus capital spending).
From Crocs's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.