Footwear, rubber and plastics · 21/36 against 20/36 checks · to 2026-09-08
CROX vs DECK.
CrocsSells Crocs clogs and HEYDUDE casual shoes.
Deckers OutdoorSells HOKA running shoes and UGG boots.→Crocs (CROX) and Deckers Outdoor (DECK) are within reach of each other at $5.5B and $11.3B, and on the filings Crocs passes more, 21 checks of 36 against 20.
Which passes more checks?
widest gap first→No axis separates them by more than 1 of six checks, and the widest is Growth. They score identically on 3 of the six, so the difference between them is narrower than a headline suggests.
| CROX | DECK | |
|---|---|---|
| Growth | 3/6 | 4/6 |
| Shareholder returns | 4/6 | 3/6 |
| Trend analysis | 1/6 | 0/6 |
| Value | 3/6 | 3/6 |
| Quality | 6/6 | 6/6 |
| Health | 4/6 | 4/6 |
| All checks | 21/36 | 20/36 |
→Deckers Outdoor turns over $5.5B to Crocs's $4.1B, 1.4 times as much. Crocs keeps 14.6% of revenue as profit against 18.4% at Deckers Outdoor.
Which is growing faster, CROX or DECK?
→Deckers Outdoor grew revenue faster last year, +7.9% against -2.0% at Crocs - 10 points apart. Over three years the order is reversed: Deckers Outdoor compounds at +14.7% against +4.4%.
| CROX | DECK | |
|---|---|---|
| Revenue (TTM) | $4.1B | $5.5B |
| Revenue growth, 1 year | -2.0% | +7.9% |
| Revenue CAGR, 3 years | +4.4% | +14.7% |
| Net income (TTM) | $593M | $1.0B |
| Free cash flow (TTM) | $705M | $1.1B |
Which hands more back to owners?
→Neither Crocs nor Deckers Outdoor pays a dividend worth the name, so what either returns to owners has to come through the share count.
| CROX | DECK | |
|---|---|---|
| Dividend yield | - | - |
| Payout ratio | - | - |
| Years of unbroken dividend | - | - |
Which is cheaper?
→Crocs is the cheaper of the two on earnings, 10.4x against 11.9x. Against their own histories, Crocs is above its 10.3x median and Deckers Outdoor is below its 17.8x.
| CROX | DECK | |
|---|---|---|
| Share price | $114.35 | $82.60 |
| Market cap | $5.5B | $11.3B |
| P/E | 10.4x | 11.9x |
| P/E, own median own 8-year median / own 11-year median | 10.3x | 17.8x |
| P/S | 1.4x | 2.0x |
| Free cash flow yield | 12.9% | 9.9% |
Which keeps more of each sale?
→Their gross margins are within 0.3 points of each other, 57.5% at Crocs and 57.8% at Deckers Outdoor, so neither keeps materially more of a sale than the other.
| CROX | DECK | |
|---|---|---|
| Gross margin | 57.5% | 57.8% |
| Operating margin | 20.7% | 22.7% |
| Return on equity | 42.9% | 44.1% |
Which balance sheet is stronger?
| CROX | DECK | |
|---|---|---|
| Debt / equity | 0.95x | - |
| Interest coverage | 10.1x | 327.8x |
| Cash and short-term investments | $170M | $1.6B |
Where they differ most
the checks behind the gapGrowth: Deckers Outdoor 1 ahead
- Sustained growth beats its sector (3 years) 14.7% vs 13.0% (market 70th pct)
- Profits grew last year 2.5% vs 0.0%
- Profit growth beats its peers 29.6% vs 13.0% (market 70th pct)
- Outgrew its sector last year -2.0% vs 11.3% (market 70th pct)
- Sustained growth beats its sector (3 years) 4.4% vs 13.0% (market 70th pct)
- Growth is speeding up, not slowing 1y -2.0% vs 3y 4.4%
Shareholder returns: Crocs 1 ahead
- Share count isn't climbing shares down 12.6% over 3 years
- Buybacks outpace the stock issued to staff $644M bought back vs $42M of stock compensation
- What it hands back fits inside its cash flow 91.4% vs 100.0%
- What it hands back fits inside its cash flow 110.1% vs 100.0%
- Buybacks are sustained, not one-off $1.2B bought back in the last twelve months, 0.00 the year before; no dividend
- Buybacks growing $1.2B vs 0.00 the year before; no dividend