Crocs Stock Draws New $54 Million Bet Despite 12% Drop This Past Year
Key Points
Himalaya Capital Management bought 628,159 shares of Crocs in the fourth quarter.
The quarter-end position value increased by $53.72 million as a result of the new holding.
Crocs now accounts for 1.5% of Himalaya’s 13F AUM.
- 10 stocks we like better than Crocs ›
On February 17, 2026, Himalaya Capital Management disclosed a new position in Crocs (NASDAQ:CROX), acquiring 628,159 shares valued at an estimated $53.72 million based on quarter-end pricing.
What happened
According to an SEC filing dated February 17, 2026, Himalaya Capital Management LLC established a new position in Crocs, purchasing 628,159 shares. The quarter-end value of this stake increased by $53.72 million, reflecting the addition of the new shares.
What else to know
- This was a new position, bringing Crocs to 1.5% of Himalaya’s 13F AUM as of December 31, 2025.
- Top holdings after the filing include:
- NASDAQ: GOOGL: $1.57 billion (43.9% of AUM)
- NYSE: BAC: $573.73 million (16.1% of AUM)
- NASDAQ: PDD: $522.50 million (14.6% of AUM)
- NYSE: BRK-B: $451.25 million (12.6% of AUM)
- NASDAQ: EWBC: $312.03 million (8.7% of AUM)
- As of Thursday, CROX shares were priced at $92.70, down 12% over the past year and well underperforming the S&P 500’s roughly 16% gain in the same period.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close February 17, 2026) | $99.92 |
| Market capitalization | $5.19 billion |
| Revenue (TTM) | $4.04 billion |
| Net income (TTM) | ($81.2 million) |
Company snapshot
- Crocs offers a diverse portfolio of casual footwear and accessories, including clogs, sandals, slides, boots, flats, socks, shoe charms, and more, marketed under the Crocs brand.
- The firm generates revenue through wholesale distribution, company-operated retail stores, e-commerce platforms, and third-party marketplaces.
- It targets men, women, and children globally, with a strong presence in the Americas, Asia Pacific, Europe, the Middle East, and Africa.
Crocs is a leading global designer and manufacturer of casual footwear, recognized for its innovative and highly recognizable products. The company leverages a multi-channel distribution model to maximize reach and adaptability in diverse markets.
What this transaction means for investors
Consumer brands that stumble don’t always get the benefit of the doubt. Crocs just posted full-year revenue of $4.04 billion, down 1.5%, and reported a GAAP net loss driven largely by $81.2 million in HEYDUDE-related impairments. Strip out the noise, however, and adjusted diluted EPS still came in at $12.51 for 2025.
Operating cash flow reached $710 million, translating to roughly $659 million in free cash flow. Management used that firepower to repurchase 6.5 million shares for $577 million and pay down $128 million of debt. Total borrowings now sit at $1.23 billion, down from $1.35 billion a year ago.
All of this to say, Crocs still looks like a potentially steady earnings profile trading well below prior enthusiasm levels. And ultimately, in a portfolio dominated by concentrated positions in Alphabet, Bank of America, and Berkshire Hathaway, a 1.5% allocation to Crocs looks opportunistic rather than reckless.
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Bank of America is an advertising partner of Motley Fool Money. Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet and Berkshire Hathaway. The Motley Fool recommends Crocs. The Motley Fool has a disclosure policy.
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