Crocs Inc Stock Research

Market Summary

USD126.44+1.38

Market Closed

1.10%

CROX Alerts

1 major insider buys recently.
Big jump in Revenue (Y/Y)

CROX Stock Price

CROX RSI Chart

CROX Valuation

Market Cap

7.8B

Price/Earnings (Trailing)

14.44

Price/Sales (Trailing)

2.19

EV/EBITDA

8.51

Price/Free Cashflow

15.64

CROX Price/Sales (Trailing)

CROX Profitability

EBT Margin

20.21%

Return on Equity

66.04%

Return on Assets

12%

Free Cashflow Yield

6.4%

CROX Fundamentals

CROX Revenue

Revenue (TTM)

3.6B

Revenue Y/Y

61.12%

Revenue Q/Q

-4.05%

CROX Earnings

Earnings (TTM)

540.2M

Earnings Y/Y

-11.05%

Earnings Q/Q

-18.67%

Price Action

52 Week Range

46.08143.50

(Low)(High)

Last 7 days

6.8%

Last 30 days

1.6%

Last 90 days

16.6%

Trailing 12 Months

65.5%

CROX Financial Health

Current Ratio

1.6

CROX Investor Care

Shares Dilution (1Y)

5.83%

Diluted EPS (TTM)

8.71

Peers (Alternatives to Crocs)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
NKE	191.2B	49.1B	3.72%	-7.83%	33.94	3.89	6.05%	-8.67%
LULU	44.5B	7.5B	17.67%	-0.28%	38.09	5.97	27.50%	34.32%
DECK	11.8B	3.6B	8.17%	64.21%	23.99	3.32	20.04%	18.55%
MID-CAP
TPR	10.2B	6.6B	-0.32%	16.04%	12.16	1.54	1.28%	0.05%
VFC	8.9B	11.7B	-8.69%	-59.30%	21.49	0.76	4.21%	-68.79%
CROX	7.8B	3.6B	1.60%	65.50%	14.44	2.19	53.67%	-25.57%
RL	7.8B	6.4B	-0.18%	4.58%	15.07	1.21	7.40%	2.63%
SKX	7.4B	7.4B	4.85%	16.58%	19.8	0.99	17.98%	-49.69%
SHOO	2.8B	2.1B	-0.83%	-6.31%	10.93	1.3	13.71%	69.90%
SMALL-CAP
OXM	1.7B	1.3B	-9.50%	18.87%	10.45	1.25	24.96%	68.50%
WWW	1.3B	2.7B	0.47%	-23.59%	-7.13	0.5	11.18%	-374.49%
GIII	738.4M	3.1B	-4.48%	-42.51%	4.18	0.24	22.63%	5.80%
VRA	185.4M	502.4M	11.55%	-21.90%	-7.02	0.37	-5.78%	-228.18%
RCKY	168.9M	646.0M	-13.17%	-44.53%	6.38	0.26	49.40%	49.42%
FORD	11.2M	41.5M	-1.33%	-35.17%	-5.64	0.27	1.50%	-301.56%

Financials for Crocs

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	11.2%	3,555	3,196	2,837	2,513	2,313
Gross Profit	7.2%	1,860	1,736	1,594	1,492	1,420
S&GA Expenses	6.8%	1,010	945	865	815	737
EBITDA	8.3%	894	826	765	711	-
EBITDA Margin	-2.7%	0.25*	0.26*	0.27*	0.28*	-
Earnings Before Taxes	3.2%	719	696	664	640	664
EBT Margin	-7.2%	0.20*	0.22*	0.23*	0.25*	-
Interest Expenses	43.1%	136	95.00	68.00	39.00	22.00
Net Income	-3.1%	540	557	541	700	726
Net Income Margin	-12.8%	0.15*	0.17*	0.19*	0.28*	-
Free Cahsflow	43.0%	499	349	318	381	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-0.9%	4,502	4,543	4,587	4,471	1,545
Current Assets	-8.7%	1,026	1,123	1,168	1,039	667
Cash Equivalents	34.0%	192	143	187	172	213
Inventory	-8.2%	472	514	502	408	214
Net PPE	11.1%	182	163	140	136	108
Goodwill	0.1%	715	714	714	642	2.00
Liabilities	-5.8%	3,684	3,912	4,095	4,121	1,531
Current Liabilities	12.3%	641	571	602	531	388
LT Debt, Current	21.8%	24.00	20.00	25.00	25.00	-
LT Debt, Non Current	-11.5%	2,298	2,596	2,744	2,851	771
Shareholder's Equity	29.7%	818	631	492	349	14.00
Retained Earnings	8.2%	1,819	1,681	1,512	1,352	1,279
Additional Paid-In Capital	0.7%	798	792	784	775	496
Accumulated Depreciation	2.3%	91.00	89.00	86.00	84.00	-
Shares Outstanding	0%	62.00	62.00	62.00	62.00	58.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	31.5%	603	459	410	468	567
Share Based Compensation	-7.0%	31.00	34.00	36.00	38.00	38.00
Cashflow From Investing	0.3%	-2,151	-2,156	-2,131	-2,119	-55.92
Cashflow From Financing	8.4%	1,530	1,411	1,713	1,568	-429
Buy Backs	-100.0%	0.00	500	650	950	1,000

Risks for CROX

What is the probability of a big loss on CROX?

63.5%

Probability that Crocs stock will be more than 20% underwater in next one year

61.9%

Probability that Crocs stock will be more than 30% underwater in next one year.

43.5%

Probability that Crocs stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CROX drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Crocs was unfortunately bought at previous high price.

Drawdowns

Returns for CROX

Cumulative Returns on CROX

24.0%

10-Year Cumulative Returns

45.0%

7-Year Cumulative Returns

50.7%

5-Year Cumulative Returns

95.2%

3-Year Cumulative Returns

What are the long-term rolling returns for CROX?

FIve years rolling returns for Crocs.

Annualized Returns

Which funds bought or sold CROX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-24	Freemont Management S.A.	sold off	-100	-230,000	-	-%
2023-03-23	MetLife Investment Management, LLC	reduced	-1.62	2,684,760	7,534,150	0.06%
2023-03-17	American Portfolios Advisors	added	2.58	21,107	68,317	-%
2023-03-15	B. Riley Wealth Advisors, Inc.	reduced	-23.15	63,975	467,975	0.01%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	167	14,070,500	18,426,500	0.02%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-49.18	-8,000	33,000	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	sold off	-100	-	-	-%
2023-02-28	Voya Investment Management LLC	reduced	-11.26	-47,452,600	6,786,420	0.01%
2023-02-27	Parallax Volatility Advisers, L.P.	unchanged	-	553,044	1,508,040	-%
2023-02-24	SRS Capital Advisors, Inc.	reduced	-8.33	193	1,193	-%

Latest Funds Activity

Are funds buying CROX calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CROX

No. of Funds

Crocs News

Schedule 13G FIlings of Crocs

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	fmr llc	-	0	SC 13G/A
Feb 09, 2023	vanguard group inc	9.24%	5,703,838	SC 13G/A
Jan 26, 2023	blackrock inc.	11.6%	7,131,887	SC 13G/A
Jan 20, 2023	blackrock inc.	11.6%	7,131,887	SC 13G
Feb 09, 2022	vanguard group inc	9.53%	5,609,635	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Jan 10, 2022	blackrock inc.	10.9%	6,398,885	SC 13G/A
Feb 10, 2021	vanguard group inc	9.99%	6,745,210	SC 13G/A
Feb 10, 2021	renaissance technologies llc	2.04%	1,375,109	SC 13G/A
Feb 10, 2021	vanguard group inc	10.07%	6,798,543	SC 13G/A

CROX Fair Value

Crocs fair value in different scenarios

The table shows the Fair Value estimates for Crocs for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	184.50 45.92%	272.60 115.60%	436.00 244.83%	1204.94 852.97%	2234.57 1667.30%
Current Inflation	171.69 35.79%	248.57 96.59%	389.91 208.38%	1050.41 730.76%	1924.88 1422.37%
Very High Inflation	155.52 23.00%	219.13 73.31%	334.77 164.77%	869.83 587.94%	1567.07 1139.38%

Historical Crocs Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Crocs

View All Filings

Date Filed	Form Type	Document
Mar 15, 2023	4	Insider Trading
Mar 10, 2023	4	Insider Trading
Mar 10, 2023	4/A	Insider Trading
Mar 10, 2023	4/A	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading
Mar 06, 2023	4	Insider Trading

Latest Insider Trading transactions for CROX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-13	SMACH THOMAS J	bought	339,438	113	3,000	-
2023-03-09	BLACKSHAW RICHARD	sold (taxes)	-43,784	119	-366	evp, brand president
2023-03-04	Hart Daniel P	sold (taxes)	-368,177	125	-2,944	executive vice president
2023-03-04	MEHLMAN ANNE	sold (taxes)	-649,562	125	-5,194	cfo
2023-03-04	Poole Michelle	sold (taxes)	-696,584	125	-5,570	president
2023-03-04	SISLER SHANNON	sold (taxes)	-161,703	125	-1,293	evp, chief people officer
2023-03-04	MICHAELS ADAM	sold (taxes)	-227,234	125	-1,817	evp, chief digital officer
2023-03-04	Rees Andrew	sold (taxes)	-3,464,160	125	-27,700	chief executive officer

About Crocs

Andrew Rees

www.crocs.com

5770

Crocs, Inc., together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children. It offers various footwear products, including clogs, sandals, slides, flip-flops, boots, flats, wedges, platforms, socks, shoe charms, loafers, sneakers, and slippers under the Crocs brand name. The company sells its products in approximately 85 countries through wholesalers, retail stores, e-commerce sites, and third-party marketplaces. As of December 31, 2021, it had 193 outlet stores, 107 retail stores, 373 company-operated stores, 73 kiosks and store-in-stores, and 14 company-operated e-commerce sites. The company serves in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Crocs, Inc. was founded in 1999 and is headquartered in Broomfield, Colorado.

CROX Income Statement

2022-12-31

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenues	$ 3,554,985	$ 2,313,416	$ 1,385,951
Cost of sales	1,694,703	893,196	636,003
Gross profit	1,860,282	1,420,220	749,948
Selling, general and administrative expenses	1,009,526	737,156	514,753
Asset impairments	0	0	21,071
Income from operations	850,756	683,064	214,124
Foreign currency gains (losses), net	3,228	(140)	(1,128)
Interest income	1,020	775	215
Interest expense	(136,158)	(21,647)	(6,742)
Other income (expense), net	(338)	1,797	510
Income before income taxes	718,508	663,849	206,979
Income tax expense (benefit)	178,349	(61,845)	(105,882)
Net income	$ 540,159	$ 725,694	$ 312,861
Net income per common share:
Basic (in dollars per share)	$ 8.82	$ 11.62	$ 4.64
Diluted (in dollars per share)	$ 8.71	$ 11.39	$ 4.56
Weighted average common shares outstanding:
Basic (in shares)	61,220	62,464	67,386
Diluted (in shares)	62,006	63,718	68,544

CROX Balance Sheet

2022-12-31

CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands

Dec. 31, 2022

Dec. 31, 2021

Current assets:

Cash and cash equivalents

$ 191,629

$ 213,197

Restricted cash — current

Accounts receivable, net of allowances of $24,493 and $20,715, respectively

295,594

182,629

Inventories

471,551

213,520

Income taxes receivable

14,752

22,301

Other receivables

18,842

12,252

Prepaid expenses and other assets

33,605

22,605

Total current assets

1,025,975

666,569

Property and equipment, net

181,529

108,398

Intangible assets, net

1,800,167

28,802

Goodwill

714,814

1,600

Deferred tax assets, net

528,278

567,201

Restricted cash

3,254

3,663

Right-of-use assets

239,905

160,768

Other assets

7,875

8,067

Total assets

4,501,797

1,545,068

Current liabilities:

Accounts payable

230,821

162,145

Accrued expenses and other liabilities

239,424

166,887

Income taxes payable

89,211

16,279

Current borrowings

24,362

Current operating lease liabilities

57,456

42,932

Total current liabilities

641,274

388,243

Deferred tax liabilities, net

^[1]

302,030

176

Long-term income taxes payable

^[1]

224,837

219,568

Long-term borrowings

2,298,027

771,390

Long-term operating lease liabilities

215,119

149,237

Other liabilities

2,579

2,372

Total liabilities

3,683,866

1,530,986

Stockholders’ equity:

Common stock, par value $0.001 per share, 109.5 million and 105.9 million issued, 61.7 million and 58.3 million shares outstanding, respectively

110

106

Treasury stock, at cost, 47.7 million and 47.6 million shares, respectively

(1,695,501)

(1,684,262)

Additional paid-in capital

797,614

496,036

Retained earnings

1,819,199

1,279,040

Accumulated other comprehensive loss

(103,491)

(76,838)

Total stockholders’ equity

817,931

14,082

Total liabilities and stockholders’ equity

$ 4,501,797

$ 1,545,068

[1]	Amounts for the year ended December 31, 2021 have been reclassified to conform to current period presentation.