Crocs Inc (CROX)

Activity ratios

Short-term

Turnover ratios

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Inventory turnover	8.78	8.41	8.14	7.74	7.66	7.48	6.58	5.95	5.78	4.72	4.24	4.55	7.72	7.37	6.85	6.43	6.78	6.29	7.34	5.69
Receivables turnover	15.53	10.98	9.33	7.98	12.25	9.57	9.03	8.58	11.03	7.78	6.53	6.21	11.22	9.22	7.95	6.70	9.08	8.31	7.18	6.87
Payables turnover	11.81	12.82	12.53	12.85	11.30	13.91	10.95	12.18	11.80	12.75	9.43	9.13	10.16	11.74	8.59	8.90	10.53	9.19	12.96	10.62
Working capital turnover	30.77	13.43	11.58	8.09	17.89	11.39	8.55	7.54	8.90	5.64	4.91	4.89	8.26	3.73	6.27	3.88	6.84	6.34	4.52	4.34

The activity ratios of Crocs Inc provide insights into the efficiency of the company's operations.

1. Inventory Turnover: The inventory turnover ratio measures how quickly Crocs Inc is selling its inventory over a specific period. The trend shows fluctuations, but overall, there is an increasing trend from March 31, 2020, to December 31, 2024, indicating that the company has been managing its inventory more efficiently over time.

2. Receivables Turnover: This ratio shows how many times Crocs Inc collects its accounts receivable during a period. The data depicts varying levels of receivables turnover, with a significant increase observed towards the end of the period. This improvement suggests that the company has become more efficient in collecting payments from its customers.

3. Payables Turnover: The payables turnover ratio reflects how quickly Crocs Inc pays its suppliers. The data indicates fluctuations in payables turnover, with no clear trend. However, the ratios generally show that the company has been able to manage its payables effectively throughout the period.

4. Working Capital Turnover: This ratio reveals how efficiently Crocs Inc is using its working capital to generate sales. The figures display an increasing trend, indicating that the company has been utilizing its working capital more effectively to support its operations and drive revenue growth.

Overall, based on the analysis of the activity ratios, Crocs Inc has shown improvements in managing its inventory, collecting receivables, paying suppliers, and utilizing working capital efficiently over the specified period.

Average number of days

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Days of inventory on hand (DOH)	days	41.58	43.41	44.82	47.13	47.67	48.78	55.51	61.37	63.19	77.40	86.16	80.27	47.31	49.52	53.25	56.80	53.82	58.04	49.70	64.12
Days of sales outstanding (DSO)	days	23.51	33.25	39.12	45.77	29.80	38.13	40.41	42.52	33.08	46.92	55.86	58.80	32.52	39.60	45.92	54.49	40.20	43.93	50.81	53.14
Number of days of payables	days	30.92	28.48	29.14	28.41	32.31	26.24	33.32	29.95	30.93	28.64	38.71	39.96	35.93	31.10	42.48	41.03	34.66	39.71	28.17	34.36

Crocs Inc's activity ratios provide insights into the efficiency of the company's operations.

1. Days of Inventory on Hand (DOH):
- Crocs Inc's inventory management improved from March 2020 to December 2024. The company reduced its DOH from 64.12 days to 41.58 days, indicating better inventory turnover and potentially lower holding costs.
- The trend demonstrates the company's ability to manage inventory levels more effectively over the years, except for a slight increase in the DOH in the most recent quarter of December 2024.

2. Days of Sales Outstanding (DSO):
- Crocs Inc's accounts receivable management seemed to be inconsistent over the years. The DSO fluctuated, indicating variations in the collection efficiency.
- The company had a notable reduction in DSO from March 2021 to December 2024, implying improved collections and potentially better credit policies. However, the DSO increased slightly in June and September 2024.

3. Number of Days of Payables:
- Crocs Inc's payable days show fluctuations but generally exhibit a decreasing trend from March 2020 to December 2024. This suggests the company has been taking longer to pay its suppliers over time.
- The reduction in the number of days of payables may indicate improved relationships with suppliers or changes in payment terms.

In summary, Crocs Inc has made progress in inventory management and collections efficiency. However, the fluctuations in DSO and the decreasing trend in payables days may require further monitoring to ensure sustainable cash flow management and supplier relationships.

Long-term

	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Fixed asset turnover	16.63	16.44	16.16	15.91	15.94	16.92	17.40	19.02	18.86	19.05	19.83	18.32	21.22	23.27	24.23	22.21	23.97	21.82	22.61	25.65
Total asset turnover	0.84	0.85	0.84	0.81	0.82	0.82	0.81	0.79	0.76	0.69	0.61	0.56	1.49	1.22	1.25	1.14	1.23	1.53	1.45	1.44

Crocs Inc's Fixed Asset Turnover ratio has been steadily declining from 25.65 in March 2020 to 16.63 in December 2024. This indicates a decreasing efficiency in generating sales revenue relative to the value of fixed assets over the period.

Similarly, the Total Asset Turnover ratio fluctuated over the same period, with a peak of 1.53 in September 2020 and falling to 0.84 by December 2024. The declining trend in this ratio suggests a diminishing ability to generate sales in relation to the total assets employed.

Overall, both ratios show a declining trend, which may signal inefficiencies in asset utilization and potentially point to operational challenges or changes in the company's business model that have impacted its ability to generate revenue efficiently using its asset base.