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Crocs Inc (CROX) Fair Value & Analysis

Consumer Cyclical · US · Market cap $6.8B · ISIN US2270461096

What is Crocs Inc really worth?

CI Crocs Inc logo Crocs Inc CROX · US
Price$116.01
Fair Value$203.65
Upside+75.6%
Quality60/100

A solid business, trading 43% below our fair value of $203.65.

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Strengths

Moderate debt · generates free cash flow

Risks

!Mixed Growth (revenue 5y +23.9 %/yr)
!Loss-making · -2.6% net margin
!Trails peers (5/13)
!Moderate moat 47/100
!Evidence only medium, so the estimate is less certain
Evidence: Medium Range $145.28 – $262.03

Fair value as of: Aug 31, 2026

From 13 valuation models · updated 5 days ago

Share price −17.8% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case ($145.28). The market is more pessimistic than our downside scenario.
  • Solid quality (60/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range ($145.28 to $262.03) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

$180.57 $47.21 Fair Value $203.65 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 31, 2026.

How to read this chart

60‑month range $47.21 – $180.57 · fair‑value band $145.28 – $262.03 · the $116.01 price screens below the $203.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 31, 2026.

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Analysis

Crocs Inc (CROX) currently trades at $116.01, while our model-based Fair Value estimate is $203.65, implying the stock looks roughly 43.0% undervalued today. The Quality Score stands at 60/100 (solid quality), in the Consumer Cyclical sector. Bull case: the DCF Models group reads highest at a median of $302.73 per share, and 11 of the 13 models we run sit above the $116.01 price. Bear case: the Earnings-Based group reads lowest at $133.23, and 2 of the 13 models stay below the price. Evidence for this calculation is medium.

Over the trailing twelve months, Crocs Inc generated revenue of $4.0B at a net margin of −2.6%. Revenue declined 1.7% year over year. It earns a return on equity of −6.1%. Net debt stands at $1.5B. Fundamentals as of Aug 31, 2026

Our scenario range runs from $145.28 (bear case) to $262.03 (bull case); at $116.01, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 58% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 32% fair-value upside, at 76%, CROX screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF $188.86 $302.73 $657.75 75
EPV $112.04 $133.23 $151.51 74
Growth DCF $176.01 $334.08 $643.43 74
All 13 models by family
DCF Models
FCF DCF $188.86 $302.73 $657.75 75
5Y Revenue Exit $92.21 $158.11 $294.58 69
5Y EBITDA Exit $167.48 $310.28 $590.17 71
10Y Revenue Exit $120.11 $248.79 $317.88 66
10Y EBITDA Exit $176.78 $407.17 $804.59 64
Earnings-Based
EPV $112.04 $133.23 $151.51 74
Multiples
EV/EBIT $219.01 $299.39 $379.78 66
EV/EBITDA $152.98 $211.36 $269.74 67
EV/Revenue $46.16 $75.43 $104.71 52
Asset-Based
NCAV (Graham) $13.01 $17.44 $26.03 54
Growth DCF
Growth DCF $176.01 $334.08 $643.43 74
Rev-Margin DCF $93.41 $184.32 $355.76 68
Economic Profit
ROIC Compounder $149.45 $226.70 $332.24 70

Widest divergence: DCF Models ($302.73) versus Asset-Based ($17.44). Highest evidence: FCF DCF (75).

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Key figures & financial health

P/S ratio 1.69 TTM
EPS (TTM) $−1.61
Net margin −2.0% FY2025
Return on equity −6.1% TTM
Return on assets (EBIT) 25.6% avg 5y
Operating margin 22.2% TTM
More key figures
Growth
Revenue (TTM) $4.0B TTM
Revenue growth (YoY) −1.7% 3y avg +4.4%
EPS growth (YoY) −4.2%
Balance sheet & cash flow
Free cash flow $659M FY2025
Net debt $1.5B FY2025 · ≈ 2.3 yrs of FCF

Figures from reported company fundamentals · as of Aug 31, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 60 · Market factors (momentum, volatility) 58

Profitability 38
Margins and returns on capital today
Quality Growth 34
Are margins and returns improving?
Cashflow 77
Earnings quality: real cash, not paper profit
Fin. Strength 51
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 27
Calm price path (market factor)
Momentum 73
Price trend over the last 3–12 months (market factor)
52W Momentum 68
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Crocs, Inc. together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and kids under the Crocs and HEYDUDE Brands in the United States and internationally.

Full company description

Crocs, Inc. together with its subsidiaries, designs, develops, manufactures, markets, distributes, and sells casual lifestyle footwear and accessories for men, women, and kids under the Crocs and HEYDUDE Brands in the United States and internationally. The company offers various footwear products, including clogs, sandals, loafers, classics, fuzz, platforms, boots, sandals, slides, slippers, sneakers, flip flops, and flats, as well as totes, backpacks, belt bags, socks, bag charms, cases, attachments, cartoon characters products, and touchland and other accessories. It sells its products through wholesalers, retail stores, e-commerce sites, third-party marketplaces, outlet stores, and kiosks/store-in-store locations. Crocs, Inc. was founded in 1999 and is headquartered in Broomfield, Colorado.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Crocs Inc reported revenue of $4.0B in FY2025 versus $2.3B in FY2021, a compound +15.0%/yr. Reported net income was −$81.2M in FY2025.

Growth Quality 61/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$4.0B
Latest YoY
−1.5%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.4%
Avg. revenue growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+23.9%
Avg. revenue growth/yr (23Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+68.7%
Value creation/yr We only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +15.0%/yr
FY21 $2.3B
FY22 $3.6B
FY23 $4.0B
FY24 $4.1B
FY25 $4.0B
Net income
FY21 $726M
FY22 $540M
FY23 $793M
FY24 $950M
FY25 −$81.2M

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Cite: Fair Value Calculator (2026). "Crocs Inc Fair Value". https://www.fairvalue-calculator.com/stock/CROX

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Footwear & Accessories · 93 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 60 · Above median
Fair Value upside +76% · Top 25%
Return on assets 12% · Top 25%
Net margin (TTM) −3% · Bottom 25%
Operating margin (TTM) 22% · Top 25%
Revenue growth −2% · Below median
Debt / equity 0.95× · Higher than 75% of peers

Valuation Multiples vs Footwear & Accessories median · lower = cheaper

P/B 5.26× · Pricier than 75% of peers
P/S (TTM) 1.69× · Pricier than 75% of peers
P/FCF 10.3× · Pricier than 75% of peers
EV/EBITDA 8.3× · Cheaper than median
PEG 1.39× · Pricier than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 6
FUTURE0 · sector 0
PAST0 · sector 22
HEALTH52 · sector 97
DIVIDEND0 · sector 49

Insider activity: 30/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Aug 31, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $38.44 $35.63 −7%
Deckers Outdoor Corporation DECK $87.76 $125.16 +43%
On Holding ONON $31.03 $17.79 −43%
Zhejiang China Commodities City Group 600415 ¥12.61 ¥13.03 +3%
Birkenstock Holding BIRK $33.95 $44.93 +32%
Huali Industrial Group 300979 ¥34.24 ¥51.36 +50%
PUMA SE PUM €25.63 €10.57 −59%
Steven Madden, Ltd SHOO $47.70 $11.69 −75%
Yue Yuen Industrial (Holdings) Limited 0551 HK$13.65 HK$31.67 +132%
Samsonite Group 1910 HK$13.20 HK$36.62 +177%

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Frequently asked questions

Is Crocs Inc (CROX) overvalued or undervalued?
As of Aug 31, 2026, our model estimates a fair value of $203.65 versus a price of $116.01, about +76% upside (undervalued).
What is the fair value of CROX?
Our model-based fair value for Crocs Inc is $203.65 (as of Aug 31, 2026), built from audited fundamentals. The current price: $116.01.
What is the quality score of CROX?
Crocs Inc has a Quality Score of 60/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Crocs Inc (CROX)?
Crocs Inc reported trailing-twelve-month revenue of about $4.0B (latest available figure, as of Aug 31, 2026).
What is the net profit margin of CROX?
The net profit margin of Crocs Inc is about −2.6%, meaning it is currently running at a net loss. Based on the latest reported figures.
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