Crocs, Inc.

Listed Company

CROXCIK 0001334036NasdaqLarge AcceleratedRubber & Plastics FootwearFY ends Dec 31

Period

FY 2025

Revenue

$4.04B

Net Income

$-81.20M

Total Assets

$4.17B

Equity

$1.29B

Shares Out

49.69M

Op. Cash Flow

$710.43M

Business

Crocs, Inc. is engaged in the design, development, worldwide marketing, distribution, and sale of casual lifestyle footwear and accessories. It offers a broad product portfolio including the Crocs Brand’s iconic molded clogs, sandals, Jibbitz™ charms and comfort technologies (Croslite™, LiteRide™, Free Feel Technology™) and the HEYDUDE Brand’s lightweight, flexible loafer silhouettes with flex-and-fold outsoles and ergonomic insoles. The company reports two operating segments: the Crocs Brand and the HEYDUDE Brand. It distributes products in more than 80 countries through wholesale partners and a direct-to-consumer network of e-commerce sites, company-operated retail and outlet stores, kiosks, and third-party marketplaces.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	4,041	4,102	3,962	3,555	2,313
Cost of sales	1,684	1,692	1,752	1,695	893
Gross profit	2,357	2,410	2,210	1,860	1,420
Selling, general and administrative expense	1,469	1,364	1,164	1,010	737
Goodwill impairment	307	0	0	—	—
Asset impairments	431	24	9	—	—
Income from operations	150	1,022	1,037	851	683
Foreign currency gains (losses), net	10	−7	−1	3	−140,000
Interest income	2	3	2	1	775,000
Interest expense	−88	−109	−161	−136	—
Other income (expense), net	63,000	1	−326,000	−338,000	2
Income before income taxes	73	911	876	719	664
Income tax expense (benefit)	154	−39	84	178	−62
Net income (loss)	−81	950	793	540	726
Basic (in dollars per share)	−1.5	16	12.91	8.82	11.62
Diluted (in dollars per share)	−1.5	15.88	12.79	8.71	11.39
Basic (in shares)	54	59	61	61	62
Diluted (in shares)	54	60	62	62	64

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	130	180	149	192	213
Accounts receivable, net of allowances of $28,136 and $31,579, respectively	278	258	306	296	183
Inventories	369	356	385	472	214
Income taxes receivable	33	4	4	15	22
Other receivables	22	22	21	19	12
Prepaid expenses and other assets	54	52	45	34	23
Total current assets	886	872	911	1,026	667
Property and equipment, net	238	244	238	182	108
Intangible assets, net	1,325	1,777	1,793	1,800	29
Goodwill	405	711	712	715	2
Deferred tax assets, net	935	872	668	528	567
Restricted cash	4	3	4	3	4
Right-of-use assets	339	307	287	240	161
Other assets	44	24	31	8	8
Total assets	4,175	4,812	4,644	4,502	1,545
Accounts payable	266	265	261	231	162
Accrued expenses and other liabilities	301	298	286	239	167
Income taxes payable	47	109	66	89	16
Current operating lease liabilities	86	69	62	57	43
Total current liabilities	700	740	698	641	388
Deferred tax liabilities, net	882,000	4	13	302	176,000
Long-term income taxes payable	649	595	565	225	220
Long-term borrowings	1,231	1,349	1,641	2,298	771
Long-term operating lease liabilities	297	283	270	215	149
Other liabilities	3	4	3	3	2
Total liabilities	2,881	2,976	3,190	3,684	1,531
Commitments and contingencies	—	—	—	—	—
Common stock, par value $0.001 per share, 110.7 million and 110.4 million issued, 50.2 million and 56.5 million shares outstanding, respectively	111,000	110,000	110,000	110,000	106,000
Treasury stock, at cost, 60.5 million and 53.9 million shares, respectively	−3,040	−2,453	−1,889	−1,696	—
Additional paid-in capital	897	860	827	798	496
Retained earnings	3,481	3,562	2,612	1,819	1,279
Accumulated other comprehensive loss	−44	−133	−96	−103	−77
Total stockholders equity	1,293	1,836	1,454	818	14
Total liabilities and stockholders equity	4,175	4,812	4,644	4,502	1,545

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	79	70	54	39	32
Operating lease cost	104	85	80	66	58
Inventory donations	871,000	812,000	2	3	1
Provision for (recovery of) doubtful accounts, net	−190,000	1	4	1	−3
Share-based compensation	37	33	29	31	38
Asset impairments	738	24	9	0	—
Deferred taxes	47	−254	−410	−5	—
Other non-cash items	6	14	4	10	−46,000
Accounts receivable, net of allowances	−6	43	−13	−57	−35
Inventories	−14	22	86	−92	−43
Prepaid expenses and other assets	−22	−14	−32	−14	−6
Accounts payable	709,000	4	37	42	35
Accrued expenses and other liabilities	524,000	10	47	39	—
Right-of-use assets and operating lease liabilities	−105	−89	−75	−63	−53
Income taxes	−74	93	317	54	19
Cash provided by operating activities	710	992	930	603	567
Purchases of property, equipment, and software	−51	−69	−116	−104	−56
Other	0	0	−46,000	−20,000	−9,000
Cash used in investing activities	−51	−69	−116	−2,151	−56
Proceeds from bank borrowings	819	102	258	2,170	390
Repayments of bank borrowings	−947	−425	−924	−575	−485
Repurchases of common stock, including excise taxes paid	−582	−552	−175	0	−1,000
Repurchases of common stock for tax withholding	−4	−8	−17	−11	−20
Other	0	−2	−2	119,000	236,000
Cash used in financing activities	−715	−886	−860	1,530	−430
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	6	−7	3	−4	−4
Net change in cash, cash equivalents, and restricted cash	−50	31	−42	−22	78
Cash paid for interest	78	99	152	128	10
Cash paid for operating leases	104	91	75	63	61
Right-of-use assets obtained in exchange for operating lease liabilities, net of terminations	108	92	121	138	55
Accrued purchases of property, equipment, and software	6	10	8	18	16

Filings

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