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CREDO TECHNOLOGY GROUP HOLDING Financials

CRDO
Source SEC Filings (10-K/10-Q) Updated May 2, 2026 Currency USD FYE May

This page shows CREDO TECHNOLOGY GROUP HOLDING (CRDO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Rhea AI CRDO FY2025

Revenue scale finally outran the expense base, revealing a high-gross-margin model that turns profitable once volume arrives.

FY2025’s profit swing was driven by fixed-cost absorption more than simple expense cutting: revenue more than doubled from FY2024, and operating margin flipped from -19.2% to 8.5%. Cash backed that accounting turn, with operating cash flow of $65.1M exceeding net income of $52.2M, but the remaining gap to free cash flow implies growth still tied up cash in working capital and equipment.

Growth is being pre-funded on the balance sheet: receivables reached $181.2M and inventory $116.7M, so part of the sales jump arrived with cash still uncollected or stock still sitting in the system. That helps explain why free cash flow improved more slowly than earnings.

The company still looks equity-funded rather than lender-funded, with liabilities of $123.8M against equity of $781.4M. Across FY2023-FY2025, the pattern looks less like a sudden margin miracle and more like a long investment phase finally reaching enough volume to absorb engineering and selling costs.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 78 / 100
Financial Profile 78/100

Based on FY2026 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.

Profitability
56

CREDO TECHNOLOGY GROUP HOLDING has an operating margin of 33.3%, meaning the company retains $33 of operating profit per $100 of revenue. This results in a moderate score of 56/100, indicating healthy but not exceptional operating efficiency. This is up from 8.5% the prior year.

Growth
100

CREDO TECHNOLOGY GROUP HOLDING's revenue surged 205.7% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage
100

CREDO TECHNOLOGY GROUP HOLDING carries a low D/E ratio of 0.11, meaning only $0.11 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
100

With a current ratio of 10.15, CREDO TECHNOLOGY GROUP HOLDING holds $10.15 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow
73

CREDO TECHNOLOGY GROUP HOLDING converts 30.5% of revenue into free cash flow ($407.0M). This strong cash generation earns a score of 73/100.

Returns
39

CREDO TECHNOLOGY GROUP HOLDING's ROE of 22.9% shows moderate profitability relative to equity, earning a score of 39/100. This is up from 6.7% the prior year.

Altman Z-Score Safe
133.49

CREDO TECHNOLOGY GROUP HOLDING scores 133.49, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($50.7B) relative to total liabilities ($232.0M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
6/9

CREDO TECHNOLOGY GROUP HOLDING passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed
0.98x

For every $1 of reported earnings, CREDO TECHNOLOGY GROUP HOLDING generates $0.98 in operating cash flow ($464.3M OCF vs $472.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue
$1.3B
YoY+205.7%
5Y CAGR+86.8%

CREDO TECHNOLOGY GROUP HOLDING generated $1.3B in revenue in fiscal year 2026. This represents an increase of 205.7% from the prior year.

EBITDA
$479.6M
YoY+712.1%

CREDO TECHNOLOGY GROUP HOLDING's EBITDA was $479.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 712.1% from the prior year.

Net Income
$472.3M
YoY+805.0%

CREDO TECHNOLOGY GROUP HOLDING reported $472.3M in net income in fiscal year 2026. This represents an increase of 805.0% from the prior year.

EPS (Diluted)
$2.51
YoY+765.5%

CREDO TECHNOLOGY GROUP HOLDING earned $2.51 per diluted share (EPS) in fiscal year 2026. This represents an increase of 765.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$407.0M
YoY+1302.4%

CREDO TECHNOLOGY GROUP HOLDING generated $407.0M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 1302.4% from the prior year.

Cash & Debt
$1.2B
YoY+430.4%
5Y CAGR+63.3%

CREDO TECHNOLOGY GROUP HOLDING held $1.2B in cash against $0 in long-term debt as of fiscal year 2026.

Dividends Per Share
N/A
Shares Outstanding
186M
YoY+8.6%
5Y CAGR+5.7%

CREDO TECHNOLOGY GROUP HOLDING had 186M shares outstanding in fiscal year 2026. This represents an increase of 8.6% from the prior year.

Margins & Returns

Gross Margin
68.0%
YoY+3.3pp
5Y CAGR+2.8pp

CREDO TECHNOLOGY GROUP HOLDING's gross margin was 68.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 3.3 percentage points from the prior year.

Operating Margin
33.3%
YoY+24.8pp
5Y CAGR+76.3pp

CREDO TECHNOLOGY GROUP HOLDING's operating margin was 33.3% in fiscal year 2026, reflecting core business profitability. This is up 24.8 percentage points from the prior year.

Net Margin
35.4%
YoY+23.4pp
5Y CAGR+82.2pp

CREDO TECHNOLOGY GROUP HOLDING's net profit margin was 35.4% in fiscal year 2026, showing the share of revenue converted to profit. This is up 23.4 percentage points from the prior year.

Return on Equity
22.9%
YoY+16.2pp

CREDO TECHNOLOGY GROUP HOLDING's ROE was 22.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 16.2 percentage points from the prior year.

Capital Allocation

R&D Spending
$279.4M
YoY+90.2%
5Y CAGR+51.6%

CREDO TECHNOLOGY GROUP HOLDING invested $279.4M in research and development in fiscal year 2026. This represents an increase of 90.2% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$57.3M
YoY+58.9%
5Y CAGR+56.7%

CREDO TECHNOLOGY GROUP HOLDING invested $57.3M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 58.9% from the prior year.

CRDO Income Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Revenue N/A $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
Cost of Revenue N/A $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
Gross Profit N/A $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
R&D Expenses N/A $78.5M+35.5% $57.9M+10.4% $52.4M+98.5% $26.4M-27.2% $36.3M+14.2% $31.7M+4.4% $30.4M
SG&A Expenses N/A $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
Operating Income N/A $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
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax N/A $1.9M+84.8% $1.0M-18.6% $1.3M+264.1% $354K-52.9% $752K+157.5% $292K-53.1% $622K
Net Income N/A $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
EPS (Diluted) N/A $0.82+86.4% $0.44+29.4% $0.34 N/A $0.16+633.3% $-0.03+50.0% $-0.06

CRDO Balance Sheet

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Total Assets $2.3B+12.7% $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
Current Assets $2.0B+12.0% $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
Cash & Equivalents $1.2B-4.5% $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
Inventory $250.8M+20.6% $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
Accounts Receivable $233.4M-4.0% $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
Goodwill $92.8M+31.0% $70.9M+2.9% $68.9M N/A $0 N/A N/A N/A
Total Liabilities $232.0M+23.1% $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
Current Liabilities $197.1M+19.3% $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
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $2.1B+11.6% $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
Retained Earnings $389.1M+76.9% $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

CRDO Cash Flow Statement

Metric Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Operating Cash Flow $182.2M+9.6% $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
Capital Expenditures $4.8M-82.0% $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
Free Cash Flow $177.5M+27.0% $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
Investing Cash Flow -$232.5M-267.9% $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
Financing Cash Flow -$5.3M-101.5% $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
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 Q4'26 Q3'26 Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25
Gross Margin N/A 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%
Operating Margin N/A 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%
Net Margin N/A 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%
Return on Equity N/A 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%
Return on Assets N/A 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%
Current Ratio 10.15-0.7 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
Debt-to-Equity 0.11+0.0 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
FCF Margin N/A 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%

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Frequently Asked Questions

CREDO TECHNOLOGY GROUP HOLDING (CRDO) reported $1.3B in total revenue for fiscal year 2026. This represents a 205.7% 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.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) revenue grew by 205.7% year-over-year, from $436.8M to $1.3B in fiscal year 2026.

Yes, CREDO TECHNOLOGY GROUP HOLDING (CRDO) reported a net income of $472.3M in fiscal year 2026, with a net profit margin of 35.4%.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) reported diluted earnings per share of $2.51 for fiscal year 2026. This represents a 765.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had EBITDA of $479.6M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a gross margin of 68.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had an operating margin of 33.3% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a net profit margin of 35.4% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) has a return on equity of 22.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) generated $407.0M in free cash flow during fiscal year 2026. This represents a 1302.4% 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.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) generated $464.3M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had $2.3B in total assets as of fiscal year 2026, including both current and long-term assets.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) invested $57.3M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) invested $279.4M in research and development during fiscal year 2026.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had 186M shares outstanding as of fiscal year 2026.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a current ratio of 10.15 as of fiscal year 2026, which is generally considered healthy.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a debt-to-equity ratio of 0.11 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) had a return on assets of 20.6% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) has an Altman Z-Score of 133.49, 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.

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.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) has an earnings quality ratio of 0.98x, considered mixed 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.

CREDO TECHNOLOGY GROUP HOLDING (CRDO) scores 78 out of 100 on our Financial Profile, indicating strong 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.

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