Crocs, Inc., together with its subsidiaries, designs, develops, manufactures, markets, and distributes casual lifestyle footwear and accessories for men, women, and children worldwide. It offers various footwear products, including clogs, sandals, flips and slides, shoes, and boots. The company’s primary trademarks include the Crocs logo and the Crocs word mark. It sells its products in approximately 90 countries through domestic and international retailers and distributors, as well as directly to end-user consumers through company-operated retail stores, outlets, e-commerce store sites, and kiosks. As of December 31, 2016, Crocs, Inc. operated 228 retail stores; 98 kiosks and store-in-stores; 232 outlet stores; and 12 company-operated e-commerce sites. The company was founded in 1999 and is headquartered in Niwot, Colorado.
BUSINESS ANALYSIS OF CROCS
The Consumer Goods Sector is witnessing a major shakeup, new age business models in the industry are transforming both customers and businesses. Faced with this uncertainity, companies are investing resources to transform their business. An in-depth business analysis is a valuable resource to identify and articulate the need for a business model change. At R&P Research we believe, the starting point for a business analysis is Benchmarking. Business benchmarking can be done at various levels: 1) Industry Benchmarking 2) Peer Benchmarking 3) Disruptors Benchmarking. In this report, we share the snapshot of how Crocs compares against the industry on the major performance indicators. This analysis, along with peer group/disruptors benchmarking and revenue model understanding can help identify growth and cost optimization opportunities to maximize the value delivered by Crocs to its stakeholders. R&P Research Industry Intelligence Platform provides historical data for last 15 years with an easy to use benchmarking interface for an in-depth comparative business analysis.
Here is the performance snapshot of Crocs with an interactive chart.
- Revenue Growth: Crocs reported a revenue growth of -5.0% year-on-year during 2016. Personal Goods Industry grew at -0.4% in the same period
- COGS share of Revenues: As a percentage of revenue, Crocs spent 51.7% of its total revenues on COGS. Personal Goods industry average (COGS share of revenue) in the same period was 50.6%
- R&D; share of Revenues: Crocs R&D; share of Revenues details are not available because either company does not share the data or we do not have it
- SG&A; share of Revenues: As a percentage of revenue, Crocs spent 48.6% of its total revenues on Sales, Marketing, and General Administration (SG&A;). Personal Goods industry average SG&A; spending in the same period was 33.7%
- Inventory share of Revenues: As a percentage of revenue, Crocs spent 14.2% of its total revenues on Inventories. Personal Goods industry average Inventory spending in the same period was 12.9%
- Accounts Payable share of Revenues: As a percentage of revenue, Crocs invested 6.0% of its total revenues on Accounts Payable (A/P) Personal Goods industry average Accounts Payable investment in the same period was 10.2%
- Accounts Receivable share of Revenues: As a percentage of revenue, Crocs invested 9.0% of its total revenues on Accounts Receivable (A/R). Personal Goods industry average Accounts Receivable investment in the same period was 9.5%
- PP&E; share of Revenues: As a percentage of revenue, Crocs invested 4.3% of its total revenues on Property, Plants, and Equipments (PP&E;). Personal Goods industry average PPE investment in the same period was 19.5%
- Intangibles share of Revenues: As a percentage of revenue, Crocs invested 7.2% of its total revenues on Intangibles. Personal Goods industry average Intangibles investment in the same period was 45.5%
- Net Margins: Crocs Net Margins in the year 2016 were -1.6%. Personal Goods industry average Net Margins in the same period were 10.5%
SECTOR AND INDUSTRY ASSOCIATION OF CROCS
For the purpose of performance benchmarking of a company with a sector or industry average, R&P; Research associates every company with one sector and one industry. An industry consists of companies with related/similar business models. A sector comprises of a group of related/similar industries.
Crocs is associated with Consumer Goods Sector and Personal Goods Industry.
Consumer Goods sector is comprised of the following industries: Beverages; Personal Goods; Food Products; Diversified Food; Household Goods & Home Construction; Food Distribution; Toys and Games. The definitions for each of the industries is as follows:
- Beverages industry consists of: Brewing Companies – manufacturers of cider or malt products; Soft Drinks Companies – manufacturers, bottlers and distributors of nonalc*holic beverages, such as soda, fruit juices, tea, coffee and bottled water.
- Personal Goods industry includes: Clothing & Accessories Companies – manufacturers and distributors of all types of clothing, jewellery, watches or textiles, sportswear, sunglasses, eyeglass frames, leather clothing and goods, and processors of hides and skins; Footwear Companies – manufacturers and distributors of shoes, boots, sandals, sneakers and other types of footwear; and Consumer Packaged Goods Companies – makers and distributors of cosmetics, toiletries and personal-care and hygiene products, including deodorants, soaps, toothpaste, perfumes, diapers, shampoos, razors and feminine hygiene products.
- Food Products industry includes: Farming & Fishing companies – companies that grow crops or raise livestock; Food Products Companies – food producers, including meatpacking, snacks, fruits, vegetables, dairy products and frozen seafood. It also includes producers of pet food and manufacturers of dietary supplements, vitamins and related items.
- Diversified Food industry includes companies that offer a diverse portfolio of food products across agricultural, animal and dairy product categories.
- Household Goods & Home Construction industry includes companies that offer: Durable Household Products – Manufacturers and distributors of domestic appliances, lighting, hand tools and power tools, hardware, cutlery, tableware, garden equipment, luggage, towels and linens; Nondurable Household Products – Producers and distributors of pens, paper goods, batteries, light bulbs, tissues, toilet paper and cleaning products such as soaps and polishes; Furnishings – Manufacturers and distributors of furniture, including chairs, tables, desks, carpeting, wallpaper and office furniture; Home Construction – constructors of residential homes, including manufacturers of mobile and prefabricated homes intended for use in one place.
- Food Distribution industry includes companies that distribute food, beverage and consumer goods to restaurants, healthcare, educational facilities, lodging establishments; equipment and supplies for the foodservice and hospitality industries.
- Toys and Games industry consists of manufacturers and distributors of toys and video/computer games, including such toys and games as playing cards, board games, stuffed animals and dolls.
INDUSTRY RANKING OF CROCS
With $1 billion revenues, Crocs ranked number 30 of all the companies in the US Personal Goods industry. There were a total of 52 public companies in the US Personal Goods industry that had revenues greater than $50 million during 2016.
The top-10 companies in the US Personal Goods industry by revenues during 2016 were:
- P&G; ($65.3 billion)
- Nike ($32.4 billion)
- Kimberly Clark ($18.2 billion)
- Colgate Palmolive ($15.2 billion)
- VF ($12 billion)
- Estee Lauder ($11.3 billion)
- PVH ($8 billion)
- Foot Locker ($7.4 billion)
- Ralph Lauren ($7.4 billion)
- Signet Jewelers ($6.6 billion)
BUSINESS MODEL ANALYSIS (BMA) FRAMEWORK
We use the following framework to assess the business model of a company. Business Model Analysis framework can be used by organizations to articulate growth strategies and identify cost optimization opportunities. Technology and consulting companies can use this framework to identify the value drivers and pain points of their targeted customers. Entrepreneurs can use this framework to understand the language of business and identify promising business opportunities. This framework can be used by any professional aspiring to take up a leadership role to better understand the businesses challenges, articulate growth strategy, and monitor the business improvement requirements for the organization.
INDUSTRY PEERS AND COMPETITORS OF CROCS
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REVENUES ANALYSIS
Crocs (CROX) Revenues And Revenue Growth From 2012 To 2016
This report provides the last five years revenues and revenue growth of Crocs, Inc. (CROX) from 2012 to 2016. Crocs generated a total of $1 billion revenues during 2016. Crocs reported a revenue growth of -5% year-over-year during 2016. The revenues and the revenue growth correspond to the fiscal year ending in December.
Crocs (CROX) Revenues And Revenue Growth From 2002 To 2016
This report provides the last fifteen years revenues and revenue growth of Crocs, Inc. (CROX) from 2002 to 2016. Crocs generated a total of $1 billion revenues during 2016. Crocs reported a revenue growth of -5% year-over-year during 2016. The revenues and the revenue growth correspond to the fiscal year ending in December.
Crocs (CROX) Revenue Growth Comparison With Industry Growth From 2012 To…
This report provides a comparison of Crocs, Inc. (CROX) revenue growth with Personal Goods industry growth during the last five years from 2012 to 2016. Crocs reported a revenue growth of -5% year-over-year during 2016. The Personal Goods industry growth was -0.4% year-over-year during 2016. Crocs growth was slower than the industry during 2016.
PROFIT ANALYSIS
Crocs (CROX) Net Profit And Net Margin From 2012 To 2016
This report provides the last five years net profit and net margin of Crocs, Inc. (CROX) from 2012 to 2016. Crocs reported a total net income of -$16.5 million during 2016. Crocs generated a total of $1 billion revenues during 2016. Crocs net profit margin was -1.6% during 2016. The net profit and the net profit margin correspond to the fiscal year ending in December.
Crocs (CROX) Net Profit And Net Margin From 2002 To 2016
This report provides the last fifteen years net profit and net margin of Crocs, Inc. (CROX) from 2002 to 2016. Crocs reported a total net income of -$16.5 million during 2016. Crocs generated a total of $1 billion revenues during 2016. Crocs net profit margin was -1.6% during 2016. The net profit and the net profit margin correspond to the fiscal year ending in December.
Crocs (CROX) Net Profit Margin Comparison With Industry From 2012 To…
This report provides a comparison of Crocs, Inc. (CROX) net profit margin with Personal Goods industry net profit margin during the last five years from 2012 to 2016. Crocs reported a net profit margin of -1.6% during 2016. The Personal Goods industry net profit margin was 10.5% during 2016. Crocs was less profitable than the industry during 2016.
COST EXPENSES ANALYSIS
Crocs (CROX) Cost of Sales (COGS) Analysis From 2012 To 2016
This report provides the last five years cost of sales (COGS) analysis of Crocs, Inc. (CROX) from 2012 to 2016. Crocs spent a total of $536.1 million on COGS during 2016. Crocs generated a total of $1 billion revenues during 2016. As a percentage of revenues, Crocs spent 51.7% of its total revenues on COGS during 2016. The cost of sales (COGS) numbers are for the fiscal year ending in December.
Crocs (CROX) Research & Development (R&D) Spending Analysis 2016
R&D; spending analysis for Crocs is not available because either the company does not provide the data or we don’t have it.
Crocs (CROX) Sales, Marketing, General & Administrative (SG&A) Spending Analysis From…
This report provides the last five years sales, marketing, general & administrative (SG&A;) expenses of Crocs, Inc. (CROX) from 2012 to 2016. Crocs spent a total of $503.2 million on sales, marketing, general, and administrative (SG&A;) activities during 2016. Crocs generated a total of $1 billion revenues during 2016. As a percentage of revenues, Crocs spent 48.6% of its total revenues on SG&A; activities during 2016. The SG&A; spending numbers are for the fiscal year ending in December.
WORKING CAPITAL ANALYSIS
Crocs (CROX) Inventory Spending Analysis From 2012 To 2016
This report provides the last five years inventory spending analysis of Crocs, Inc. (CROX) from 2012 to 2016. Crocs invested a total of $147 million on inventories during 2016. Crocs generated a total of $1 billion revenues during 2016. As a percentage of revenues, Crocs invested 14.2% of its total revenues on inventories during 2016. The inventory numbers are for the fiscal year ending in December.
Crocs (CROX) Accounts Receivable (A/R) Analysis From 2012 To 2016
This report provides the last five years Accounts Receivable (A/R) analysis of Crocs, Inc. (CROX) from 2012 to 2016. Crocs invested a total of $92.9 million on accounts receivable during 2016. Crocs generated a total of $1 billion revenues during 2016. As a percentage of revenues, Crocs invested 9% of its total revenues on accounts receivable during 2016. The accounts receivable numbers are for the fiscal year ending in December.
Crocs (CROX) Accounts Payable (A/P) Analysis From 2012 To 2016
This report provides the last five years Accounts Payable (A/P) analysis of Crocs, Inc. (CROX) from 2012 to 2016. Crocs invested a total of $61.9 million on accounts payable during 2016. Crocs generated a total of $1 billion revenues during 2016. As a percentage of revenues, Crocs invested 6% of its total revenues on accounts payable activities during 2016. The accounts payable numbers are for the fiscal year ending in December.
ASSET MANAGEMENT ANALYSIS
Crocs (CROX) Property, Plant & Equipment (PP&E) Investment Analysis From 2012…
This report provides the last five years property, plant & equipment (PP&E;) investment analysis of Crocs, Inc. (CROX) from 2012 to 2016. Crocs invested a total of $44.1 million on property, plant & equipment (PP&E;) activities during 2016. Crocs generated a total of $1 billion revenues during 2016. As a percentage of revenues, Crocs invested 4.3% of its total revenues on PP&E; activities during 2016. The PP&E; investment numbers are for the fiscal year ending in December.
Crocs (CROX) Intangible Assets Analysis From 2012 To 2016
This report provides the last five years Intangible assets analysis of Crocs, Inc. (CROX) from 2012 to 2016. Crocs invested a total of $74.2 million on Intangible assets during 2016. Crocs generated a total of $1 billion revenues during 2016. As a percentage of revenues, Crocs invested 7.2% of its total revenues on intangible assets during 2016. The Intangible asset numbers are for the fiscal year ending in December.
