CrocsCROX

CrocsCROX

Revenue: is the business selling more than it used to?

$4.0B−1% YoYFY 2025

→Revenue reached $4.0B in 2025, compounding +4% a year since 2022 though the pace has cooled.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Net income: how much of that revenue becomes profit?

$-81MFY 2025

→2025 closed with a loss of $81M after being profitable the year before. One bad year is not a pattern, but it is what the balance sheet has to absorb.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

How fast is it growing, year by year?

-1.5%revenue growth, FY 2025

→Revenue grew -1% in 2025 against a five-year average of +27%. Earnings fell +109% on top of it. 2018's +393% earnings rebound off a collapsed base sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Revenue per share: is your slice growing as fast as the company?

$74.54revenue per share, FY 2025

→Revenue per share reached $74.54 in 2025, compounding +9% a year against +4% for CROX as a whole. Buybacks added roughly 4.8 points to your per-share result. Free cash flow per share stands at $12.16.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Free cash flow: what is left in real cash after everything?

$659M−29% YoYFY 2025

→Free cash flow was $659M in 2025, compounding +10% a year since 2022. The trailing twelve months stand at $705M.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Where does each dollar of revenue actually go?

→Of $4.0B in 2025 sales, nothing survives to the bottom line - the journey ends $81M underwater.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

How much of every sales dollar ends up as free cash?

→16 cents of every sales dollar became free cash in 2025, up 2 points since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

What does staying competitive cost, per dollar of sales?

→The biggest claim on each sales dollar is capital spending, at 1% of revenue (stock compensation 1%, research and development 1%). That share has fallen since 2022, so the cost of competing is easing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

When sales grow, do profits grow faster?

→Operating profit outgrew revenue in only 2 of the last 5 years. Costs are growing roughly in step with the business, so scale isn't yet paying for itself.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Margins: of every $1 of sales, how much survives each cost layer?

→Operating margin compressed 20 points to 4% since 2022. The bottom line is still negative: costs below the operating line eat what is left.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

What does it earn on the money it uses?

→ROE of 43% sits well above ROCE of 4%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

What has the market paid for CROX over time?

10.7xP/E today

→At 10.7x earnings, the market is paying about what it has typically paid CROX's own 8-year median of 10.3x. Neither a bargain nor a stretch by its own standard.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

What cash return does the business throw off per dollar of market value?

12.5%FCF yield today

→Every dollar of market value currently buys 12.5% of annual free cash flow, more than its 11-year median of 8.5% - the cash is cheaper than usual.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Could it handle its debt if things went wrong?

→Debt of $1.3B sits against $170M of cash, or 0.9x shareholders' equity. Earnings cover the interest bill 10 times over, so the debt is comfortably serviced.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Is the company's own capital growing?

→The company's own capital shrank from $1.5B in 2023 to $1.4B (-5%). Buybacks or losses are drawing the buffer down - the distinction matters.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

How much goes back, and how much leaks out as stock comp?

→Shareholders received $582M in buybacks in 2025. Stock compensation issued $37M of new shares in the same year, offsetting 6% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

How fast is your ownership being diluted - or concentrated?

→The share count shrank 9.4% in 2025, averaging 4.3% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Does CROX earn more on its capital than that capital costs?

→CROX earns 4.3% on the capital it employs, below the 10% most investors treat as the cost of capital. It was 22.0% in 2022, so the trend is down, though the pace has cooled.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

CROX has issued or retired shares - did shareholders end up better off?

→CROX has shrunk its share count -40% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +570% over the same years.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

CrocsCROX

Are the people running it buying or selling?

→Insiders bought $626,704 and sold $12M on the open market, a net sale of $11M. A further 44 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30