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Crocs, Inc (CROX) Fair Value & Analysis

Consumer Cyclical · US · Market cap $6.8B

CI Crocs, Inc logo Crocs, Inc CROX · US
Price$136.62
Fair Value$203.65
Upside+49.1%
Quality61/100
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Mixed Growth
Loss-making · -2.6% net margin
Moderate debt · generates free cash flow
Trails peers (5/13)
Moderate moat 47/100
Evidence: Medium Range $145.28 – $263.32 Share as image

Fair value as of: Jul 17, 2026

From 13 valuation models · updated 24 days ago

Share price +11.6% over the past month.

A solid business, screening 49% undervalued on our models.

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 (61/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range ($145.28 to $263.32) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$180.57 $47.21 Fair Value $203.65 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $47.21 – $180.57 · fair‑value band $145.28 – $263.32 · the $136.62 price screens below the $203.65 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Crocs, Inc (CROX) currently trades at $136.62, while our model-based Fair Value estimate is $203.65, implying the stock looks roughly 49.1% undervalued today. The Quality Score stands at 61/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

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 Jul 17, 2026

Our scenario range runs from $145.28 (bear case) to $263.32 (bull case); at $136.62, 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 near its 52-week high and 87% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at -20% fair-value upside, at 49%, 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 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.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $176.01 $334.08 $643.43 80
Rev-Margin DCF $93.41 $184.32 $355.76 74
ROIC Compounder $149.45 $226.70 $332.24 72
All 13 models by family
DCF Models
FCF DCF $188.86 $302.73 $657.75 38
5Y Revenue Exit $92.21 $158.11 $294.58 39
5Y EBITDA Exit $167.48 $310.28 $590.17 41
10Y Revenue Exit $120.11 $248.79 $317.88 36
10Y EBITDA Exit $176.78 $407.17 $804.59 37
Earnings-Based
EPV $112.04 $133.23 $151.51 59
Multiples
EV/EBIT $219.01 $299.39 $379.78 53
EV/EBITDA $152.98 $211.36 $269.74 54
EV/Revenue $46.16 $75.43 $104.71 43
Asset-Based
NCAV (Graham) $13.01 $17.44 $26.03 50
Growth DCF
Growth DCF $176.01 $334.08 $643.43 80
Rev-Margin DCF $93.41 $184.32 $355.76 74
Economic Profit
ROIC Compounder $149.45 $226.70 $332.24 72

Widest divergence: DCF Models ($302.73) versus Asset-Based ($17.44). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $4.0B
Revenue growth (YoY) -1.7%
Net margin -2.6%
Return on equity -6.1%
Free cash flow $659M FY2025
Operating margin 22.2%
More key figures
EPS (TTM) $-1.61
EPS growth (YoY) -4.2%
Net debt $1.5B FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 61/100

Of which business quality 60 · Market factors (momentum, volatility) 63

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 13
Calm price path (market factor)
Momentum 85
Price trend over the last 3–12 months (market factor)
52W Momentum 85
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.

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. growth/yr (3Y)
+4.4%
Avg. growth/yr (5Y)
+23.9%
Avg. growth/yr (23Y)
+68.7%
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

Earlier news

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

Peer Group

Footwear & Accessories · 94 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 61 · Above median
Fair Value upside +49% · Above median
Return on assets 12% · Top 25%
Net margin (TTM) -3% · Below median
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× · Pricier than median
PEG 1.39× · Cheaper than median

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.

VALUE 99 · sector 4
FUTURE 0 · sector 0
PAST 0 · sector 23
HEALTH 52 · sector 97
DIVIDEND 0 · sector 41

Insider activity: 46/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Footwear & Accessories stocks, each showing price versus our Fair Value estimate (as of Jul 17, 2026).

Stock Price Fair Value vs Fair Value
NIKE, Inc NKE $44.37 $35.63 -20%
adidas AG 1ADS €165.00 €65.71 -60%
Deckers Outdoor Corporation DECK $106.49 $125.16 +18%
On Holding ONON $38.20 $17.64 -54%
Zhejiang China Commodities City Group 600415 ¥12.11 ¥13.03 +8%
Birkenstock Holding BIRK $44.36 $44.14 -0%
Huali Industrial Group 300979 ¥31.10 ¥54.71 +76%
PUMA SE PUM €29.31 €10.57 -64%
Steven Madden, Ltd SHOO $43.26 $11.69 -73%
Yue Yuen Industrial (Holdings) Limited 0551 HK$14.18 HK$4.04 -72%

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Frequently asked questions

Is Crocs, Inc (CROX) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $203.65 versus a price of $136.62, about +49% (undervalued).
What is the fair value of CROX?
Our model-based fair value for Crocs, Inc is $203.65 (as of Jul 17, 2026), built from audited fundamentals. The current price is $136.62.
What is the quality score of CROX?
Crocs, Inc has a Quality Score of 61/100. 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 Jul 17, 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.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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