CROXNasdaqRubber & Plastics FootwearUS GAAP · USD

Crocs, Inc.

Crocs, Inc. designs, markets, distributes, and sells casual lifestyle footwear and accessories worldwide, centered on the Crocs Brand and the HEYDUDE Brand. The company’s core business is built around comfort-led, easy-on footwear sold through wholesale partners and direct-to-consumer channels, including e-commerce and company-operated stores.

Ask about the company
Revenue4,041m USD
−1.5 %y/y
Operating profit (EBIT)150m USD
−85.4 %y/y
EBIT margin3.7%
−21.2 ppy/y
Net income-81.2m USD
−108.5 %y/y
Free cash flow659m USD
−28.6 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

01,0002,0003,0004,0005,000m USD2020: 1,386 m USD2020: EBIT 214 m USD20202021: 2,313 m USD2021: EBIT 683 m USD20212022: 3,555 m USD2022: EBIT 851 m USD20222023: 3,962 m USD2023: EBIT 1,037 m USD20232024: 4,102 m USD2024: EBIT 1,022 m USD20242025: 4,041 m USD2025: EBIT 150 m USD20254,041150
RevenueOperating profit (EBIT)
Ask Clarifo about Crocs, Inc.

Business

Share of revenue
Crocs Brand footwear82 %

Classic clogs, sandals, and related casual footwear built around Croslite™ material.

HEYDUDE Brand footwear18 %

Casual loafers and slip-on shoes sold under the HEYDUDE brand.

Accessories and charms3 %

Jibbitz™ charms and other add-on accessories that extend the Crocs ecosystem.

Direct-to-consumer retail30 %

Company-operated stores, outlets, kiosks, and e-commerce sites selling directly to consumers.

Wholesale distribution47 %

Sales through multi-brand retailers, partner stores, e-tailers, and distributors.

Customers

Crocs sells to consumers who want comfort, casual style, and easy-on footwear at accessible price points. Its customer base spans family footwear shoppers, fashion-conscious consumers, and buyers drawn to collaborations, personalization, and brand-led products. The company also relies on wholesale retailers and distributors that buy inventory for resale across physical and digital channels.

Direct-to-consumer shoppers

Buy Crocs and HEYDUDE products through company e-commerce, marketplaces, and stores for convenience and brand experience.

Wholesale retail partners

Family footwear retailers, sporting goods stores, and regional chains buy inventory for resale and broad market reach.

International distributors

Buy product for defined territories outside the U.S. where direct selling is less economical.

Brand-driven consumers

Purchase icons like Classic Clog, Wally, Wendy, and Jibbitz for style, comfort, and personalization.

Strategy

Crocs is focused on growing its core icons, especially the Classic Clog and Jibbitz ecosystem, while broadening the Crocs silhouette with new designs, colors, collaborations, and licensed properties. It is also trying to stabilize and improve HEYDUDE by emphasizing its loafer silhouettes, comfort, and easy-on positioning, while managing the mix between wholesale and direct-to-consumer channels. The company is investing in digital marketing, consumer engagement, and selective retail presence to support brand relevance and pricing power.

Strengthen Crocs Brand iconsShort term

The Classic Clog and Jibbitz are the main growth engines and support brand differentiation.

Reposition and stabilize HEYDUDEMedium term

HEYDUDE needs better brand momentum and profitability after weaker demand and impairment charges.

Expand direct-to-consumer capabilitiesMedium term

DTC improves consumer data, brand control, and pricing flexibility versus pure wholesale reliance.

Geography

2025

Crocs sells in more than 85 countries, with a large footprint in the United States and meaningful exposure across Asia and Europe. The company operates a global retail and e-commerce network, while outside the U.S. it often uses distributors where direct sales are less efficient. Its store base is concentrated in the Crocs Brand, with additional HEYDUDE stores and a broad international wholesale footprint.

United States56 %
Other countries (US filing)44 %

Share of the revenue the company reports by geography.

Risks

Crocs depends on third-party manufacturers outside the U.S., so supply chain disruption, freight issues, tariffs, and labor compliance problems can quickly affect product availability and margins. The business is also exposed to brand and channel risk because demand can shift with consumer spending, fashion cycles, and wholesale partner inventory decisions. Cybersecurity, counterfeiting, and impairment risk around HEYDUDE’s goodwill and trademark are additional company-specific concerns.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Supply chain disruption and manufacturing dependence1Demand volatility and consumer spending pressure2Cybersecurity and data privacy incidents3HEYDUDE impairment risk4Brand counterfeiting and intellectual property loss5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Supply chain disruption and manufacturing dependenceImpact: HighLikelihood: High

    The company relies solely on third-party manufacturers outside the U.S., so factory, logistics, or trade disruptions can interrupt supply and raise costs.

    Exposure: Product manufacturing and global logistics

  2. Demand volatility and consumer spending pressureImpact: HighLikelihood: High

    Footwear demand is discretionary and can weaken when consumers face inflation, elevated rates, or shifting preferences.

    Exposure: Both Crocs and HEYDUDE brands

  3. Cybersecurity and data privacy incidentsImpact: HighLikelihood: Medium

    The company handles sensitive customer and employee data, and a breach could harm operations, reputation, and financial results.

    ExposureE-commerceRetailInternal systems
  4. HEYDUDE impairment riskImpact: HighLikelihood: Low

    The HEYDUDE trademark and reporting unit goodwill are subject to impairment if forecasts weaken further.

    Exposure: Intangible assets and goodwill

  5. Brand counterfeiting and intellectual property lossImpact: MediumLikelihood: Medium

    Counterfeit products can divert sales and damage brand image, especially in foreign jurisdictions with weaker IP protection.

    Exposure: Global brand equity

Ask Clarifo about Crocs, Inc.

Accounting

Judgemental items
Revenue reserves for returns and allowances

Management must estimate returns, rebates, and markdown support, which directly affects net revenue and margin reporting.

Impact: Can materially change reported sales and gross profit

Goodwill and indefinite-lived intangible impairment

HEYDUDE trademark and goodwill are not amortized and can be written down if forecasts weaken.

Impact: Can create large non-cash charges

Foreign currency translation and transaction effects

A meaningful share of sales and costs is non-U.S., so exchange rates affect reported revenue and profitability.

Impact: Can distort year-over-year comparisons

Seasonality and channel mix

Wholesale and DTC timing, promotions, and store traffic can shift quarterly revenue and margins.

Impact: Affects quarterly comparability and inventory planning

Similar listed companies

Publicly listed companies with a comparable business focus.

Rocky Brands, Inc

RCKY · Footwear, (No Rubber)

Birkenstock Holding plc

BIRK · Footwear, (No Rubber)

Deckers Outdoor Corporation

DECK · Rubber & Plastics Footwear

Wolverine World Wide, Inc

WWW · Footwear, (No Rubber)

KOHLS Corp

KSS · Retail-Department Stores

Steven Madden, Ltd

SHOO · Footwear, (No Rubber)

Last updated: 24/09/2026

Crocs, Inc. (CROX) Revenue, Earnings & Financials 2025 – Clarifo