Filing Flows › Crocs (CROX) › Q4 2025
Crocs (CROX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
Crocs (CROX) reported revenue of $958M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and -4% from the quarter before. Operating margin was 15.3%, net earnings $105M (11.0% of revenue).
Crocs, Q4 2025: revenue $958M (-3% year over year), operating margin 15.3%, net earnings $105M, operating cash flow $253M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $958M | -4% | -3% |
| Gross profit | $524M | -10% | -9% |
| Operating profit | $146M | -30% | -27% |
| Net earnings | $105M | -28% | -71% |
| Operating cash flow | $253M | +6% | -22% |
| Free cash flow | $246M | — | -19% |
What changed
Revenue was $957.6M in Q4 2025, down 3% year over year and down 4% from the previous quarter. Crocs Brand was the largest line at 80% of revenue.
Gross margin was 54.7%, down 3.2 points from a year earlier. Operating profit was $146.4M, a 15.3% margin (down 4.9 points year over year). Operating expenses grew 1% against a revenue fall of 3%. Net earnings were $105.2M, down 71% year over year. The effective tax rate was 17.3%.
Operating cash flow was $252.5M (down 22% year over year), 240% of net earnings. Non-cash charges added back $20.9M of depreciation and amortization and $8.2M of share-based compensation. Working capital and other items added $118.2M. After purchases of property, equipment, and software ($6.1M), free cash flow as the company reports it was $246.4M.
Questions
What was Crocs' revenue in the fourth quarter 2025?
Crocs (CROX) reported revenue of $958M for the fourth quarter 2025 (Q4 2025), -3% from a year earlier and -4% from the quarter before.
Was Crocs profitable in the fourth quarter 2025?
Operating profit was $146M (15.3% of revenue) and net earnings $105M.
Source: Crocs 10-K on SEC EDGAR.