Criteo Past Earnings Performance

Past criteria checks 2/6

Criteo has been growing earnings at an average annual rate of 13.1%, while the Media industry saw earnings growing at 7.9% annually. Revenues have been declining at an average rate of 3.5% per year. Criteo's return on equity is 9.2%, and it has net margins of 5.6%.

Key information

13.15%

Earnings growth rate

17.25%

EPS growth rate

Media Industry Growth	13.17%
Revenue growth rate	-3.48%
Return on equity	9.17%
Net Margin	5.60%
Last Earnings Update	30 Jun 2026

Recent past performance updates

Recent updates

Narrative Update • Aug 13

CRTO: Higher Discount Rate And Buybacks Will Shape Balanced Return Outlook

Analysts cut their price target on Criteo from $26 to $16 as they now apply a higher discount rate, expect lower revenue growth and slightly tighter profit margins, and use a reduced future P/E assumption in their valuation work. What's in the News for Criteo Criteo scheduled a Special and Extraordinary Shareholders Meeting for December 15, 2026, at the offices of Loyens & Loeff Luxembourg Sarl in Luxembourg, according to company disclosures.

New Narrative • Aug 13

AI Commerce And Retail Media Channels Will Support A Stronger Long-Term Earnings Profile

Catalysts About Criteo Criteo provides advertising technology that uses commerce data and AI decisioning to help brands and retailers reach shoppers across digital channels. What are the underlying business or industry changes driving this perspective?

New Narrative • Aug 13

Criteo at ~$17 is priced at the bear-case DCF intrinsic value following two consecutive guidance cuts, a CFO departure, and negative H1 FCF

Criteo at ~$17 is priced at the bear-case DCF intrinsic value following two consecutive guidance cuts, a CFO departure, and negative H1 FCF — making it a binary bet that Performance Media stabilizes and the capex cycle ends, with meaningful upside if both occur but no margin of safety if either does not. Investment Thesis Retail Media's underlying client base grew 20% in Q2 ex-scope reductions — the core growth engine remains structurally intact and the known $75M headwind is mechanically set to anniversary in Q4 2026, which should produce a sharp reported re-acceleration The OpenAI partnership has 2,000+ brands advertising on ChatGPT across seven countries within five months of launch, representing the first concrete commercial evidence that the agentic commerce thesis is not purely aspirational At 2.2x FY2026E Adj.

Seeking Alpha • Aug 10

Criteo: No Light At The End Of The Tunnel As Top Line Deteriorates (Rating Downgrade)

Summary Criteo is downgraded to a sell after a dismal Q2 and sharp guidance cut, signaling a value trap. CRTO now expects a -10% to -12% decline in contribution ex-TAC, with both Retail Media and Performance Media segments deteriorating. Adjusted EBITDA margin guidance drops to 30%, but recent trends make even this lowered target appear at risk. Despite a new partnership with OpenAI, CRTO's execution issues and client churn outweigh any AI-driven upside; I recommend avoiding the stock. Read the full article on Seeking Alpha

New Narrative • Jul 30

AI Ad Push And Retail Media Headwinds Will Set Up A Quiet Recovery

Catalysts About Criteo Criteo provides commerce media and AI driven advertising solutions that connect brands, retailers and consumers across channels. What are the underlying business or industry changes driving this perspective?

Revenue & Expenses Breakdown

How Criteo makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqGS:CRTO Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses	R&D Expenses
30 Jun 26	1,863	104	544	282
31 Mar 26	1,918	114	569	290
31 Dec 25	1,945	145	560	281
30 Sep 25	1,957	168	543	268
30 Jun 25	1,946	137	543	286
31 Mar 25	1,935	142	537	266
31 Dec 24	1,933	112	545	272
30 Sep 24	1,947	101	534	257
30 Jun 24	1,957	102	528	234
31 Mar 24	1,954	72	519	242
31 Dec 23	1,949	53	524	239
30 Sep 23	1,948	8	532	263
30 Jun 23	1,925	7	533	243
31 Mar 23	1,951	-23	602	217
31 Dec 22	2,017	9	583	188
30 Sep 22	2,106	67	608	168
30 Jun 22	2,168	84	585	160
31 Mar 22	2,224	133	498	156
31 Dec 21	2,254	134	478	152
30 Sep 21	2,262	106	454	119
30 Jun 21	2,224	88	447	114
31 Mar 21	2,110	79	438	108
31 Dec 20	2,073	72	447	133
30 Sep 20	2,064	68	456	115
30 Jun 20	2,116	82	472	127
31 Mar 20	2,207	87	499	141
31 Dec 19	2,262	91	521	153
30 Sep 19	2,279	87	521	157
30 Jun 19	2,285	85	525	158
31 Mar 19	2,294	88	523	161
31 Dec 18	2,300	89	525	160
30 Sep 18	2,304	104	520	167
30 Jun 18	2,339	106	525	169
31 Mar 18	2,344	99	526	165
31 Dec 17	2,297	91	518	159
30 Sep 17	2,189	78	502	151
30 Jun 17	2,049	71	473	137
31 Mar 17	1,915	78	442	124
31 Dec 16	1,799	82	409	112
30 Sep 16	1,629	81	377	107
30 Jun 16	1,538	72	355	99
31 Mar 16	1,430	64	337	89
31 Dec 15	1,323	60	318	79
30 Sep 15	1,343	48	331	77

Quality Earnings: CRTO has high quality earnings.

Growing Profit Margin: CRTO's current net profit margins (5.6%) are lower than last year (7%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: CRTO's earnings have grown by 13.1% per year over the past 5 years.

Accelerating Growth: CRTO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: CRTO had negative earnings growth (-23.5%) over the past year, making it difficult to compare to the Media industry average (11.6%).

Return on Equity

High ROE: CRTO's Return on Equity (9.2%) is considered low.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/08/24 11:19
End of Day Share Price	2026/08/21 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

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Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Criteo S.A. is covered by 31 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Rocco Strauss	Arete Research Services LLP
Richard Kramer	Arete Research Services LLP
Mark Zgutowicz	Benchmark Company