Crocs
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Crocs, Inc., together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. The last earnings update was 9 days ago. More info.
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- Crocs has significant price volatility in the past 3 months.
CROX Share Price and Events
7 Day Returns
1 Year Returns
CROX Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Crocs (CROX) | -7.3% | -17.9% | -20.7% | 36.5% | 144.2% | 49.1% |
| US Luxury | -4% | -5.5% | -2.9% | 10.3% | 30.1% | 42.9% |
| US Market | -3.9% | -3.6% | 1.8% | 1.4% | 35.8% | 40.8% |
1 Year Return vs Industry and Market
- CROX outperformed the Luxury industry which returned 10.3% over the past year.
- CROX outperformed the Market in United States of America which returned 1.4% over the past year.
Value
Is Crocs undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Crocs
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Crocs.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 6 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Luxury Unlevered Beta | Simply Wall St/ S&P Global | 0.69 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.69 (1 + (1- 21%) (24.25%)) |
0.881 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.88 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.881 * 5.96%) |
7.98% |
Discounted Cash Flow Calculation for NasdaqGS:CROX using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Crocs is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (USD, Millions) | Source |
Present Value Discounted (@ 7.98%) |
|
|---|---|---|---|
| 2019 | 37.20 | Analyst x2 | 34.45 |
| 2020 | 96.14 | Analyst x3 | 82.45 |
| 2021 | 126.30 | Analyst x1 | 100.31 |
| 2022 | 151.32 | Est @ 19.81% | 111.30 |
| 2023 | 173.55 | Est @ 14.69% | 118.22 |
| 2024 | 192.81 | Est @ 11.1% | 121.63 |
| 2025 | 209.37 | Est @ 8.59% | 122.32 |
| 2026 | 223.68 | Est @ 6.83% | 121.02 |
| 2027 | 236.21 | Est @ 5.6% | 118.35 |
| 2028 | 247.40 | Est @ 4.74% | 114.80 |
| Present value of next 10 years cash flows | $1,044.87 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $247.40 × (1 + 2.73%) ÷ (7.98% – 2.73%) |
$4,840.47 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $4,840.47 ÷ (1 + 7.98%)10 |
$2,246.10 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $1,044.87 + $2,246.10 |
$3,290.97 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $3,290.97 / 71.86 |
$45.8 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $45.80 |
| Current discount | Discount to share price of
$22.08
= -1 x ($22.08 - $45.80) / $45.80 |
51.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Crocs's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Crocs's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Crocs's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Crocs's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $-0.79 |
| NasdaqGS:CROX Share Price ** | NasdaqGS (2019-05-15) in USD | $22.08 |
| United States of America Luxury Industry PE Ratio | Median Figure of 38 Publicly-Listed Luxury Companies | 16.42x |
| United States of America Market PE Ratio | Median Figure of 3,087 Publicly-Listed Companies | 17.79x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Crocs.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NasdaqGS:CROX Share Price ÷ EPS (both in USD) = 22.08 ÷ -0.79 |
-27.93x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Crocs is loss making, we can't compare its value to the US Luxury industry average.
- Crocs is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does
Crocs's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -27.93x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts |
52.6%per year |
| United States of America Luxury Industry PEG Ratio | Median Figure of 28 Publicly-Listed Luxury Companies | 1.54x |
| United States of America Market PEG Ratio | Median Figure of 2,113 Publicly-Listed Companies | 1.52x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Crocs, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Crocs's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $1.71 |
| NasdaqGS:CROX Share Price * | NasdaqGS (2019-05-15) in USD | $22.08 |
| United States of America Luxury Industry PB Ratio | Median Figure of 47 Publicly-Listed Luxury Companies | 1.48x |
| United States of America Market PB Ratio | Median Figure of 5,195 Publicly-Listed Companies | 1.83x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NasdaqGS:CROX Share Price ÷ Book Value per Share (both in USD) = 22.08 ÷ 1.71 |
12.93x |
* Primary Listing of Crocs.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Crocs is overvalued based on assets compared to the US Luxury industry average.
Value checks
We assess Crocs's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Luxury industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Luxury industry average (and greater than 0)? (1 check) Crocs has a total score of 2/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
How is Crocs expected to perform in the next 1 to 3 years based on estimates from 6 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Crocs's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Crocs's earnings growth is expected to exceed the United States of America market average.
- Crocs's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NasdaqGS:CROX Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts | 52.6% |
| NasdaqGS:CROX Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts | 5.4% |
| United States of America Luxury Industry Earnings Growth Rate | Market Cap Weighted Average | 13.2% |
| United States of America Luxury Industry Revenue Growth Rate | Market Cap Weighted Average | 6.8% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 1,283 | 146 | 126 | 1 |
| 2020-12-31 | 1,231 | 121 | 102 | 6 |
| 2019-12-31 | 1,168 | 96 | 81 | 6 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 1,101 | 97 | -55 |
| 2018-12-31 | 1,088 | 114 | -69 |
| 2018-09-30 | 1,071 | 104 | 17 |
| 2018-06-30 | 1,054 | 100 | 9 |
| 2018-03-31 | 1,039 | 102 | -1 |
| 2017-12-31 | 1,024 | 98 | -5 |
| 2017-09-30 | 1,012 | 91 | -23 |
| 2017-06-30 | 1,014 | 59 | -26 |
| 2017-03-31 | 1,025 | 47 | -31 |
| 2016-12-31 | 1,036 | 40 | -32 |
| 2016-09-30 | 1,058 | 32 | -63 |
| 2016-06-30 | 1,086 | 33 | -86 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
All data from Crocs Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 1.70 | 1.70 | 1.70 | 1.00 |
| 2020-12-31 | 1.36 | 1.48 | 1.21 | 4.00 |
| 2019-12-31 | 1.09 | 1.15 | 1.02 | 4.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | -0.79 |
| 2018-12-31 | -1.01 |
| 2018-09-30 | 0.24 |
| 2018-06-30 | 0.13 |
| 2018-03-31 | -0.01 |
| 2017-12-31 | -0.07 |
| 2017-09-30 | -0.32 |
| 2017-06-30 | -0.35 |
| 2017-03-31 | -0.42 |
| 2016-12-31 | -0.43 |
| 2016-09-30 | -0.86 |
| 2016-06-30 | -1.17 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Crocs's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Crocs has a total score of 4/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Crocs performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Crocs does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
- Unable to compare Crocs's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Crocs's 1-year growth to the US Luxury industry average as it is not currently profitable.
Earnings and Revenue History
All data from Crocs Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 1,101.01 | -54.94 | 421.06 | 14.10 |
| 2018-12-31 | 1,088.21 | -69.22 | 426.68 | 14.10 |
| 2018-09-30 | 1,071.33 | 16.52 | 432.71 | 13.40 |
| 2018-06-30 | 1,053.54 | 9.18 | 429.92 | 13.40 |
| 2018-03-31 | 1,038.75 | -0.89 | 432.85 | 13.40 |
| 2017-12-31 | 1,023.51 | -5.29 | 438.70 | 13.40 |
| 2017-09-30 | 1,011.82 | -23.13 | 478.51 | 2.60 |
| 2017-06-30 | 1,014.43 | -25.70 | 477.74 | 6.30 |
| 2017-03-31 | 1,025.04 | -31.06 | 474.06 | 9.20 |
| 2016-12-31 | 1,036.27 | -31.74 | 463.61 | 11.90 |
| 2016-09-30 | 1,057.53 | -63.22 | 461.79 | 23.30 |
| 2016-06-30 | 1,085.73 | -85.93 | 476.89 | 19.60 |
| 2016-03-31 | 1,107.58 | -86.68 | 495.29 | 16.70 |
| 2015-12-31 | 1,090.63 | -98.01 | 515.31 | 14.00 |
| 2015-09-30 | 1,088.43 | -75.70 | 515.90 | |
| 2015-06-30 | 1,116.74 | -38.17 | 523.92 | |
| 2015-03-31 | 1,147.99 | -30.45 | 514.29 | |
| 2014-12-31 | 1,198.22 | -18.96 | 509.34 | 16.70 |
| 2014-09-30 | 1,220.42 | -34.02 | 528.87 | |
| 2014-06-30 | 1,206.55 | -31.34 | 514.63 | |
| 2014-03-31 | 1,193.45 | -12.96 | 509.42 | |
| 2013-12-31 | 1,192.68 | 10.38 | 510.37 | |
| 2013-09-30 | 1,189.00 | 73.53 | 510.91 | |
| 2013-06-30 | 1,196.04 | 105.42 | 503.26 | |
| 2013-03-31 | 1,163.16 | 131.37 | 478.33 | |
| 2012-12-31 | 1,123.30 | 130.70 | 432.59 | |
| 2012-09-30 | 1,102.02 | 139.84 | 424.37 | |
| 2012-06-30 | 1,081.35 | 124.92 | 422.62 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Whilst Crocs made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
- It is difficult to establish if Crocs has efficiently used its assets last year compared to the US Luxury industry average (Return on Assets) as it is loss-making.
- It is difficult to establish if Crocs improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Crocs's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Luxury industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Crocs has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Crocs's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Crocs's finances.
The net worth of a company is the difference between its assets and liabilities.
- Crocs is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Crocs's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Crocs Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 122.95 | 384.67 | 86.33 |
| 2018-12-31 | 150.31 | 120.00 | 123.37 |
| 2018-09-30 | 382.32 | 0.03 | 203.05 |
| 2018-06-30 | 382.54 | 0.04 | 171.51 |
| 2018-03-31 | 366.85 | 0.31 | 101.95 |
| 2017-12-31 | 368.30 | 0.66 | 172.13 |
| 2017-09-30 | 415.58 | 1.11 | 178.19 |
| 2017-06-30 | 427.34 | 1.76 | 156.96 |
| 2017-03-31 | 414.18 | 4.50 | 88.88 |
| 2016-12-31 | 399.28 | 2.38 | 147.57 |
| 2016-09-30 | 452.49 | 3.62 | 150.22 |
| 2016-06-30 | 455.03 | 5.32 | 146.66 |
| 2016-03-31 | 436.34 | 13.56 | 89.08 |
| 2015-12-31 | 421.63 | 6.40 | 143.34 |
| 2015-09-30 | 507.98 | 7.73 | 168.47 |
| 2015-06-30 | 577.26 | 9.04 | 197.28 |
| 2015-03-31 | 578.94 | 10.36 | 180.70 |
| 2014-12-31 | 625.20 | 11.67 | 267.51 |
| 2014-09-30 | 748.28 | 12.97 | 350.37 |
| 2014-06-30 | 795.18 | 14.47 | 408.95 |
| 2014-03-31 | 804.58 | 15.55 | 411.81 |
| 2013-12-31 | 624.74 | 16.85 | 317.14 |
| 2013-09-30 | 690.23 | 13.61 | 332.49 |
| 2013-06-30 | 667.61 | 9.93 | 289.35 |
| 2013-03-31 | 633.81 | 10.49 | 232.67 |
| 2012-12-31 | 617.40 | 14.58 | 294.35 |
| 2012-09-30 | 640.98 | 11.33 | 315.06 |
| 2012-06-30 | 583.68 | 11.28 | 278.83 |
- Crocs's level of debt (312.9%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (1.9% vs 312.9% today).
CASH RUNWAY ANALYSIS
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
- Whilst loss making Crocs has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
- Whilst loss making Crocs has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -69.9% per year.
Financial health checks
We assess Crocs's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Crocs has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Crocs's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Crocs
shares you are expected to receive
$0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate Crocs's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate Crocs's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 6 Analyst Estimates (S&P Global) | See Below |
| United States of America Luxury Industry Average Dividend Yield | Market Cap Weighted Average of 18 Stocks | 1.5% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 1997 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | ||
| 2020-12-31 | ||
| 2019-12-31 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as Crocs has not reported any payouts.
- Unable to verify if Crocs's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess Crocs's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Crocs afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Crocs has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $9,100,814 |
| AGE | 51 |
| TENURE AS CEO | 1.9 years |
CEO Bio
Mr. Andrew Rees has been the Chief Executive Officer of Crocs, Inc. since June 1, 2017 and its President since June 9, 2014. Mr. Rees served as an Acting Principal Executive Officer of Crocs, Inc. from June 9, 2014 to January 28, 2015. He joined Crocs, Inc. from L.E.K. Consulting, where he served as Managing Director for the past 14 years. Prior to L.E.K. Consulting, Mr. Rees served in various executive positions at Reebok International. Mr. Rees served as a Senior Executive of Reebok International. Mr. Rees was responsible for building Reebok's own retail channel into a substantial and profitable business. He has been a Director of Crocs, Inc. since June 6, 2017. He was responsible for strategic planning for Reebok worldwide. He also served as an executive at Laura Ashley. Mr. Rees led the US Retail and Consumer Products Practice and has substantial operating and strategic experience with leading world-wide consumer brands. Mr. Rees served as a Member of the Advisory Board of oneTXT, Inc. He has a B.A. from Imperial College, The University of London.
CEO Compensation
- Andrew's compensation has increased whilst company is loss making.
- Andrew's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Crocs management team in years:
- The tenure for the Crocs management team is about average.
Management Team
Andrew Rees
President
$9M
51
1.9 yrs
Anne Mehlman
Executive VP & CFO
$877K
38
0.8 yrs
Dan Hart
Executive VP & Chief Legal and Risk Officer
$2M
59
9.3 yrs
Marisa Jacobs
Senior Director of Investor Relations
Terence Reilly
Chief Marketing Officer & Senior VP
3.7 yrs
Shannon Sisler
Senior Vice President of Global Human Resources
Michelle Poole
Senior Vice President of Global Product & Marketing
4.6 yrs
David Thomson
Senior VP & General Manager of Asia
4 yrs
Michael Margolis
Vice President of Sales & Marketing
$1M
66
14.3 yrs
Board of Directors Tenure
Average tenure and age of the Crocs board of directors in years:
- The tenure for the Crocs board of directors is about average.
Board of Directors
Tom Smach
Chairman
$351K
57
7.9 yrs
Andrew Rees
President
$9M
51
1.9 yrs
Ron Frasch
Independent Director
$225K
69
12.6 yrs
Doreen Wright
Independent Director
$255K
61
7.9 yrs
Doug Treff
Independent Director
$245K
60
2.9 yrs
Prakash Melwani
Independent Director
$215K
60
5.3 yrs
Ian Bickley
Independent Director
$210K
54
4.1 yrs
Bill Gray
Director
$155K
66
0.9 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 23. Aug 18 | Sell | Thomas Smach | Individual | 22. Aug 18 | 22. Aug 18 | -24,400 | $20.44 | $-498,736 | ||
Management checks
We assess Crocs's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Crocs has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Read This Before Buying Crocs, Inc. (NASDAQ:CROX) Shares
So shareholders might well want to know whether insiders have been buying or selling shares in Crocs, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was selling shares at slightly below the current price (US$26.43).
Simply Wall St - – Full articleAnnouncing: Crocs Stock Increased An Energizing 159% In The Last Three Years
Many high growth companies focus on growing revenue before profits, but if revenue is the focus, it really needs to grow. … As you can imagine, it's easy to imagine a fast growing company becoming (potentially very) profitable, but when revenue growth slows, then the potential upside often seems less impressive. … In the last 3 years Crocs saw its revenue shrink by 1.8% per year.
Simply Wall St - – Full articleIs Crocs, Inc.'s (NASDAQ:CROX) ROE Of 9.7% Impressive?
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … That means that for every $1 worth of shareholders' equity, it generated $0.097 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleIntrinsic Calculation For Crocs, Inc. (NASDAQ:CROX) Shows Investors Are Overpaying
by projecting its future cash flows and then discounting them to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model
Simply Wall St - – Full articleUnderstanding Your Return On Investment In Crocs Inc (NASDAQ:CROX)
This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … To understand Crocs’s capital returns we will look at a useful metric called return on capital employed. … What is Return on Capital Employed (ROCE)?
Simply Wall St - – Full articleDid Crocs Inc (NASDAQ:CROX) Create Value For Investors Over The Past Year?
and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … Crocs Inc’s (NASDAQ:CROX) most recent return on equity was a substandard 7.35% relative to its industry performance of 12.00% over the past year. … See our latest analysis for Crocs
Simply Wall St - – Full articleEstimating The Fair Value Of Crocs Inc (NASDAQ:CROX)
Today, I will calculate the stock's intrinsic value. … by taking the foreast future cash flows of the company and discounting them back to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model
Simply Wall St - – Full articleDoes Crocs Inc's (NASDAQ:CROX) Recent Track Record Look Strong?
Below, I will assess CROX's recent performance announced on 31 March 2018 and compare these figures to its historical trend and industry movements. … Did CROX's recent earnings growth beat the long-term trend and the industry. … CROX is loss-making, with the most recent trailing twelve-month earnings of -US$893.00k (from 31 March 2018), which compared to last year has become
Simply Wall St - – Full articleCalculating The Intrinsic Value Of Crocs Inc (NASDAQ:CROX)
Today, I will calculate the stock's intrinsic value by estimating the company's future cash flows and discounting them to their present value. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = $77 × (1 + 2.9%) ÷ (8.6% – 2.9%) = $1,410 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = $1,410 / ( 1 + 8.6%)5 = $934 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is $1,233. … NasdaqGS:CROX Intrinsic Value Jun 7th 18 Important assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.
Simply Wall St - – Full articleWhy You Need To Look At This Factor Before Buying Crocs Inc (NASDAQ:CROX)
A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … CROX's beta implies it may be a stock that investors with high-beta portfolios might find relevant if they wanted to reduce their exposure to market risk, especially during times of downturns. … However, this is the opposite to what CROX’s actual beta value suggests, which is lower stock volatility relative to the market.
Simply Wall St - – Full articleCompany Info
Description
Crocs, Inc., together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots under the Crocs brand name. The company sells its products in approximately 85 countries through wholesalers and distributors, as well as through stores and e-commerce sites. As of December 31, 2018, it had 120 retail stores; 68 kiosks and store-in-stores; 195 outlet stores; and 13 company-operated e-commerce sites. The company was founded in 1999 and is headquartered in Niwot, Colorado.
Details
| Name: | Crocs, Inc. |
| CROX | |
| Exchange: | NasdaqGS |
| Founded: | 1999 |
| $1,586,583,019 | |
| 71,856,115 | |
| Website: | http://www.crocs.com |
| Address: |
Crocs, Inc. 7477 East Dry Creek Parkway, Niwot, Colorado, 80503, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NasdaqGS | CROX | Common Stock | Nasdaq Global Select | US | USD | 08. Feb 2006 | |
| DB | C7N | Common Stock | Deutsche Boerse AG | DE | EUR | 08. Feb 2006 |
Number of employees
Current staff
Industry
| Footwear | |
| Consumer Durables |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/16 01:50 |
| End of day share price update: | 2019/05/15 00:00 |
| Last estimates confirmation: | 2019/05/13 |
| Last earnings filing: | 2019/05/07 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
