This page shows CREDO TECHNOLOGY GROUP HOLDING (CRDO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue scale finally outran Credo's heavy R&D base, turning a high-gross-margin model into cash-generative profitability in FY2025.
The profit turn looks operational rather than cosmetic: revenue more than doubled while operating margin moved from-19.2% to8.5% , the pattern of a fixed engineering cost base finally being absorbed by volume. Earnings quality also improved because operating cash flow reached$65.1M , ahead of net income at$52.2M , even as working capital became more demanding.
Gross margin stayed strong at
Balance-sheet posture is unusually flexible for a company just crossing into profitability: cash of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of CREDO TECHNOLOGY GROUP HOLDING's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
CREDO TECHNOLOGY GROUP HOLDING has an operating margin of 8.5%, meaning the company retains $9 of operating profit per $100 of revenue. This below-average margin results in a low score of 14/100, suggesting thin profitability after operating expenses. This is up from -19.2% the prior year.
CREDO TECHNOLOGY GROUP HOLDING's revenue surged 126.3% year-over-year to $436.8M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
CREDO TECHNOLOGY GROUP HOLDING carries a low D/E ratio of 0.16, meaning only $0.16 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 7.41, CREDO TECHNOLOGY GROUP HOLDING holds $7.41 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
CREDO TECHNOLOGY GROUP HOLDING's free cash flow margin of 6.6% results in a low score of 27/100. Capital expenditures of $36.1M absorb a large share of operating cash flow.
CREDO TECHNOLOGY GROUP HOLDING generates a 6.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 13/100. This is up from -5.1% the prior year.
CREDO TECHNOLOGY GROUP HOLDING scores 166.48, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($34.0B) relative to total liabilities ($123.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
CREDO TECHNOLOGY GROUP HOLDING passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, CREDO TECHNOLOGY GROUP HOLDING generates $1.25 in operating cash flow ($65.1M OCF vs $52.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
CREDO TECHNOLOGY GROUP HOLDING generated $436.8M in revenue in fiscal year 2025. This represents an increase of 126.3% from the prior year.
CREDO TECHNOLOGY GROUP HOLDING's EBITDA was $59.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 353.6% from the prior year.
CREDO TECHNOLOGY GROUP HOLDING reported $52.2M in net income in fiscal year 2025. This represents an increase of 283.9% from the prior year.
CREDO TECHNOLOGY GROUP HOLDING earned $0.29 per diluted share (EPS) in fiscal year 2025. This represents an increase of 261.1% from the prior year.
Cash & Balance Sheet
CREDO TECHNOLOGY GROUP HOLDING generated $29.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 69.9% from the prior year.
CREDO TECHNOLOGY GROUP HOLDING held $219.6M in cash against $0 in long-term debt as of fiscal year 2025.
CREDO TECHNOLOGY GROUP HOLDING had 172M shares outstanding in fiscal year 2025. This represents an increase of 3.9% from the prior year.
Margins & Returns
CREDO TECHNOLOGY GROUP HOLDING's gross margin was 64.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.9 percentage points from the prior year.
CREDO TECHNOLOGY GROUP HOLDING's operating margin was 8.5% in fiscal year 2025, reflecting core business profitability. This is up 27.7 percentage points from the prior year.
CREDO TECHNOLOGY GROUP HOLDING's net profit margin was 11.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 26.6 percentage points from the prior year.
CREDO TECHNOLOGY GROUP HOLDING's ROE was 6.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 11.8 percentage points from the prior year.
Capital Allocation
CREDO TECHNOLOGY GROUP HOLDING invested $146.0M in research and development in fiscal year 2025. This represents an increase of 52.8% from the prior year.
CREDO TECHNOLOGY GROUP HOLDING invested $36.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 130.4% from the prior year.
CRDO Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $407.0M+51.9% | $268.0M+20.2% | $223.1M+3246.9% | $6.7M-95.1% | $135.0M+87.4% | $72.0M+20.6% | $59.7M-1.8% | $60.8M |
| Cost of Revenue | $128.1M+47.3% | $87.0M+19.6% | $72.7M+1207.2% | $5.6M-88.7% | $49.1M+85.0% | $26.5M+18.2% | $22.4M+7.8% | $20.8M |
| Gross Profit | $278.9M+54.0% | $181.0M+20.4% | $150.4M+13532.6% | $1.1M-98.7% | $85.9M+88.8% | $45.5M+22.1% | $37.3M-6.7% | $40.0M |
| R&D Expenses | $78.5M+35.5% | $57.9M+10.4% | $52.4M+105.3% | $25.5M-29.6% | $36.3M+14.2% | $31.7M+4.4% | $30.4M+13.0% | $26.9M |
| SG&A Expenses | $50.8M+14.5% | $44.3M+19.2% | $37.2M+131.0% | $16.1M-31.4% | $23.5M+5.8% | $22.2M+4.0% | $21.3M+5.8% | $20.2M |
| Operating Income | $149.6M+89.9% | $78.8M+29.7% | $60.7M+246.7% | -$41.4M-258.1% | $26.2M+411.6% | -$8.4M+41.8% | -$14.5M-83.4% | -$7.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $1.9M+84.8% | $1.0M-18.6% | $1.3M+264.1% | $354K-52.9% | $752K+157.5% | $292K-53.1% | $622K-92.0% | $7.8M |
| Net Income | $157.1M+90.2% | $82.6M+30.3% | $63.4M+274.4% | -$36.4M-223.8% | $29.4M+794.9% | -$4.2M+55.7% | -$9.5M+8.9% | -$10.5M |
| EPS (Diluted) | $0.82+86.4% | $0.44+29.4% | $0.34 | N/A | $0.16+633.3% | $-0.03+50.0% | $-0.06 | N/A |
CRDO Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.0B+40.6% | $1.4B+60.1% | $905.2M+11.9% | $809.3M+12.4% | $719.9M+12.7% | $638.6M-1.0% | $644.9M+7.1% | $601.9M |
| Current Assets | $1.8B+43.7% | $1.2B+54.7% | $803.6M+12.6% | $713.5M+15.2% | $619.1M+15.0% | $538.3M-0.8% | $542.4M+2.3% | $530.3M |
| Cash & Equivalents | $1.2B+115.0% | $567.6M+158.4% | $219.6M-7.1% | $236.3M-21.0% | $299.2M+25.1% | $239.2M+130.3% | $103.9M+55.2% | $66.9M |
| Inventory | $208.0M+38.5% | $150.2M+28.7% | $116.7M+29.6% | $90.0M+69.1% | $53.2M+46.6% | $36.3M+15.1% | $31.6M+21.8% | $25.9M |
| Accounts Receivable | $243.2M-0.8% | $245.2M+35.3% | $181.2M+11.8% | $162.1M+3.2% | $157.1M+92.2% | $81.8M+13.8% | $71.9M+20.4% | $59.7M |
| Goodwill | $70.9M+2.9% | $68.9M | N/A | $0 | N/A | N/A | N/A | N/A |
| Total Liabilities | $188.5M+15.5% | $163.2M+31.8% | $123.8M-3.0% | $127.7M+25.6% | $101.7M+43.9% | $70.6M-23.0% | $91.8M+48.6% | $61.7M |
| Current Liabilities | $165.2M+17.7% | $140.4M+29.5% | $108.4M+0.6% | $107.7M+33.4% | $80.7M+62.6% | $49.6M-28.5% | $69.4M+55.6% | $44.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.8B+43.8% | $1.3B+64.6% | $781.4M+14.6% | $681.6M+10.2% | $618.2M+8.9% | $567.9M+2.7% | $553.1M+2.4% | $540.2M |
| Retained Earnings | $220.0M+249.9% | $62.9M+418.1% | -$19.8M+76.2% | -$83.2M+30.6% | -$119.8M+19.7% | -$149.1M-2.9% | -$144.9M-7.0% | -$135.3M |
CRDO Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $166.2M+169.5% | $61.7M+13.8% | $54.2M-6.3% | $57.8M+1272.8% | $4.2M-59.0% | $10.3M+242.1% | -$7.2M-274.1% | $4.2M |
| Capital Expenditures | $26.5M+14.3% | $23.2M+722.0% | $2.8M-22.8% | $3.7M-20.5% | $4.6M-79.1% | $21.9M+274.3% | $5.9M+83.5% | $3.2M |
| Free Cash Flow | $139.7M+263.1% | $38.5M-25.1% | $51.3M-5.2% | $54.2M+14242.8% | -$383K+96.7% | -$11.7M+11.0% | -$13.1M-1461.6% | $962K |
| Investing Cash Flow | $138.5M+251.0% | -$91.7M-35.3% | -$67.8M+42.8% | -$118.7M-300.7% | $59.1M-54.2% | $129.1M+203.8% | $42.5M+228.0% | -$33.2M |
| Financing Cash Flow | $348.0M-7.9% | $377.9M+12823.7% | -$3.0M-50.6% | -$2.0M+40.9% | -$3.3M+17.2% | -$4.0M-351.0% | $1.6M+22814.3% | $7K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CRDO Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.5%+1.0pp | 67.5%+0.1pp | 67.4%+50.9pp | 16.6%-47.1pp | 63.6%+0.5pp | 63.2%+0.7pp | 62.4%-3.3pp | 65.8% |
| Operating Margin | 36.8%+7.4pp | 29.4%+2.2pp | 27.2%+648.5pp | -621.2%-640.6pp | 19.4%+31.1pp | -11.7%+12.5pp | -24.2%-11.2pp | -13.0% |
| Net Margin | 38.6%+7.8pp | 30.8%+2.4pp | 28.4%+573.8pp | -545.4%-567.1pp | 21.8%+27.6pp | -5.9%+10.1pp | -16.0%+1.3pp | -17.2% |
| Return on Equity | 8.5%+2.1pp | 6.4%-1.7pp | 8.1%+13.4pp | -5.3%-10.1pp | 4.8%+5.5pp | -0.7%+1.0pp | -1.7%+0.2pp | -1.9% |
| Return on Assets | 7.7%+2.0pp | 5.7%-1.3pp | 7.0%+11.5pp | -4.5%-8.6pp | 4.1%+4.7pp | -0.7%+0.8pp | -1.5%+0.3pp | -1.7% |
| Current Ratio | 10.82+2.0 | 8.86+1.4 | 7.41+0.8 | 6.62-1.0 | 7.67-3.2 | 10.84+3.0 | 7.81-4.1 | 11.88 |
| Debt-to-Equity | 0.10-0.0 | 0.13-0.0 | 0.16-0.0 | 0.19+0.0 | 0.16+0.0 | 0.12-0.0 | 0.17+0.1 | 0.11 |
| FCF Margin | 34.3%+20.0pp | 14.4%-8.7pp | 23.0%-789.7pp | 812.7%+813.0pp | -0.3%+15.9pp | -16.2%+5.8pp | -21.9%-23.5pp | 1.6% |
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Frequently Asked Questions
What is CREDO TECHNOLOGY GROUP HOLDING's annual revenue?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) reported $436.8M in total revenue for fiscal year 2025. This represents a 126.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is CREDO TECHNOLOGY GROUP HOLDING's revenue growing?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) revenue grew by 126.3% year-over-year, from $193.0M to $436.8M in fiscal year 2025.
Is CREDO TECHNOLOGY GROUP HOLDING profitable?
Yes, CREDO TECHNOLOGY GROUP HOLDING (CRDO) reported a net income of $52.2M in fiscal year 2025, with a net profit margin of 11.9%.
What is CREDO TECHNOLOGY GROUP HOLDING's EBITDA?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) had EBITDA of $59.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is CREDO TECHNOLOGY GROUP HOLDING's gross margin?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a gross margin of 64.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is CREDO TECHNOLOGY GROUP HOLDING's operating margin?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) had an operating margin of 8.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is CREDO TECHNOLOGY GROUP HOLDING's net profit margin?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a net profit margin of 11.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is CREDO TECHNOLOGY GROUP HOLDING's return on equity (ROE)?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) has a return on equity of 6.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is CREDO TECHNOLOGY GROUP HOLDING's free cash flow?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) generated $29.0M in free cash flow during fiscal year 2025. This represents a 69.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is CREDO TECHNOLOGY GROUP HOLDING's operating cash flow?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) generated $65.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are CREDO TECHNOLOGY GROUP HOLDING's total assets?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) had $905.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are CREDO TECHNOLOGY GROUP HOLDING's capital expenditures?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) invested $36.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does CREDO TECHNOLOGY GROUP HOLDING spend on research and development?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) invested $146.0M in research and development during fiscal year 2025.
What is CREDO TECHNOLOGY GROUP HOLDING's current ratio?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a current ratio of 7.41 as of fiscal year 2025, which is generally considered healthy.
What is CREDO TECHNOLOGY GROUP HOLDING's debt-to-equity ratio?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a debt-to-equity ratio of 0.16 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CREDO TECHNOLOGY GROUP HOLDING's return on assets (ROA)?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a return on assets of 5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is CREDO TECHNOLOGY GROUP HOLDING's Altman Z-Score?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) has an Altman Z-Score of 166.48, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is CREDO TECHNOLOGY GROUP HOLDING's Piotroski F-Score?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are CREDO TECHNOLOGY GROUP HOLDING's earnings high quality?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) has an earnings quality ratio of 1.25x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is CREDO TECHNOLOGY GROUP HOLDING?
CREDO TECHNOLOGY GROUP HOLDING (CRDO) scores 59 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.