CROCS, INC.

CROX · Materials · $6.9B mkt cap · FY2025 filings · Narrow moat

Wonderful & reasonably priced

Narrow moat

The four filters

Pricing power84

Median gross margin 53.2% over 10y, very stable.

Returns on capital93

Median ROIC 33.6%, above the 9% hurdle in 80% of years.

Balance-sheet safety0

Net debt/EBITDA 4.8x, interest coverage 2x.

Capital discipline64

Owner earnings trend unclear, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

15% below value

Owner earnings (normalized): $725.7M
Est. intrinsic value / share: $160.62
Recent price: $137.29
Discount to value: 15% below value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

Embed this score on your site

One iframe, no script. The badge shows CROX’s live Moat Score, updates itself as new filings are scored, and links back here. How it works.

<iframe
  src="https://buylikebuffett.com/embed/CROX"
  width="340" height="150" style="border:0"
  title="CROX Moat Score — The Moat Index"
  loading="lazy"></iframe>

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell CROX. See the disclaimer.