STOCK TITAN

Criteo Financials

CRTO
Source SEC Filings (10-K/10-Q) Updated May 6, 2026 Currency USD FYE December

This page shows Criteo (CRTO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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 CRTO FY2025

Profitability is being rebuilt through a richer gross-profit mix, while cash conversion and balance-sheet flexibility improve on nearly flat sales.

With revenue still near $1.9B, operating cash flow reached $311M, so cash generation improved faster than the top line. Because accounts receivable fell sharply at the same time, FY2025's stronger cash output came from both better margins and less cash being trapped in customer collections.

The key change is margin shape: a smaller cost-of-revenue burden lifted enough gross profit to fund heavier R&D spending and still widen operating margin to 10.4%. That makes the earnings recovery look more structural than a simple expense-cutting story, especially since operating margin was only 1.2% in FY2022.

The balance sheet also got less dependent on leverage: total liabilities fell to $1.02B and debt-to-equity eased to 0.9x. Even after $152M of buybacks in FY2025, a current ratio of 1.3x suggests that capital returns were being funded from internal cash generation, not a scramble for outside financing.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 44 / 100
Financial Profile 44/100

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 Criteo'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
41

Criteo has an operating margin of 10.4%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 41/100, indicating healthy but not exceptional operating efficiency. This is up from 7.8% the prior year.

Growth
33

Criteo's revenue grew a modest 0.6% year-over-year to $1.9B. This slow but positive growth earns a score of 33/100.

Leverage
84

Criteo carries a low D/E ratio of 0.88, meaning only $0.88 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
21

Criteo's current ratio of 1.27 is below the typical benchmark, resulting in a score of 21/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow
48

Criteo has a free cash flow margin of 10.7%, earning a moderate score of 48/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
35

Criteo's ROE of 13.0% shows moderate profitability relative to equity, earning a score of 35/100. This is up from 11.0% the prior year.

Altman Z-Score Grey Zone
2.30

Criteo scores 2.30, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Strong
8/9

Criteo passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed
2.09x

For every $1 of reported earnings, Criteo generates $2.09 in operating cash flow ($311.2M OCF vs $149.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
82.4x

Criteo earns $82.4 in operating income for every $1 of interest expense ($202.8M vs $2.5M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue
$1.9B
YoY+0.6%
5Y CAGR-1.3%
10Y CAGR+3.9%

Criteo generated $1.9B in revenue in fiscal year 2025. This represents an increase of 0.6% from the prior year.

EBITDA
$325.1M
YoY+35.0%
5Y CAGR+10.5%
10Y CAGR+10.4%

Criteo's EBITDA was $325.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 35.0% from the prior year.

Net Income
$149.0M
YoY+29.6%
5Y CAGR+15.8%
10Y CAGR+9.6%

Criteo reported $149.0M in net income in fiscal year 2025. This represents an increase of 29.6% from the prior year.

EPS (Diluted)
$2.64
YoY+38.9%
5Y CAGR+17.9%
10Y CAGR+11.2%

Criteo earned $2.64 per diluted share (EPS) in fiscal year 2025. This represents an increase of 38.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$208.5M
YoY+15.8%

Criteo generated $208.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 15.8% from the prior year.

Cash & Debt
$342.0M
YoY+17.7%
5Y CAGR-6.9%
10Y CAGR-0.3%

Criteo held $342.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
51M
YoY-5.8%
5Y CAGR-5.0%
10Y CAGR-2.0%

Criteo had 51M shares outstanding in fiscal year 2025. This represents a decrease of 5.8% from the prior year.

Margins & Returns

Gross Margin
54.0%
YoY+3.1pp
5Y CAGR+20.8pp
10Y CAGR+18.3pp

Criteo's gross margin was 54.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.1 percentage points from the prior year.

Operating Margin
10.4%
YoY+2.6pp
5Y CAGR+5.2pp
10Y CAGR+4.7pp

Criteo's operating margin was 10.4% in fiscal year 2025, reflecting core business profitability. This is up 2.6 percentage points from the prior year.

Net Margin
7.7%
YoY+1.7pp
5Y CAGR+4.2pp
10Y CAGR+3.2pp

Criteo's net profit margin was 7.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.7 percentage points from the prior year.

Return on Equity
13.0%
YoY+2.0pp
5Y CAGR+6.6pp
10Y CAGR+0.4pp

Criteo's ROE was 13.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.0 percentage points from the prior year.

Capital Allocation

R&D Spending
$283.3M
YoY+1.4%
5Y CAGR+16.4%
10Y CAGR+12.6%

Criteo invested $283.3M in research and development in fiscal year 2025. This represents an increase of 1.4% from the prior year.

Share Buybacks
$152.1M
YoY-32.3%
5Y CAGR+28.4%

Criteo spent $152.1M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 32.3% from the prior year.

Capital Expenditures
$102.7M
YoY+31.5%

Criteo invested $102.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 31.5% from the prior year.

CRTO Income Statement

Metric Q2'26 Q4'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $424.6M N/A $482.7M+6.9% $451.4M-18.4% $553.0M+20.5% $458.9M-2.6% $471.3M+4.7% $450.1M
Cost of Revenue $174.3M N/A $190.6M+1.9% $187.1M-14.4% $218.6M+13.4% $192.8M-5.6% $204.2M+4.1% $196.2M
Gross Profit $222.7M N/A $258.5M+9.1% $237.0M-21.3% $301.0M+29.8% $231.9M-0.4% $232.8M+7.2% $217.2M
R&D Expenses $69.7M N/A $79.6M+31.0% $60.7M-10.1% $67.6M-20.8% $85.3M+43.0% $59.6M-10.8% $66.9M
SG&A Expenses $45.2M N/A $40.2M+2.7% $39.2M-5.7% $41.5M-10.1% $46.2M+12.2% $41.2M-12.7% $47.2M
Operating Income $10.4M N/A $30.5M-36.8% $48.2M-49.0% $94.5M+884.3% $9.6M-74.0% $36.9M+256.8% $10.4M
Interest Expense $764K N/A $657K+52.8% $430K-11.7% $487K-3.6% $505K+23.5% $409K-3.3% $423K
Income Tax $3.7M N/A $5.7M-45.2% $10.5M-57.8% $24.8M+618.0% $3.5M-59.9% $8.6M+189.5% $3.0M
Net Income $7.8M N/A $21.3M-44.0% $37.9M-49.1% $74.5M+1093.3% $6.2M-76.9% $27.0M+272.5% $7.2M
EPS (Diluted) $0.15 N/A $0.39-40.9% $0.66 N/A $0.11-76.1% $0.46+283.3% $0.12

CRTO Balance Sheet

Metric Q2'26 Q4'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $2.1B-5.9% $2.2B+4.1% $2.1B-0.6% $2.1B-6.1% $2.3B+2.6% $2.2B+1.9% $2.2B-1.7% $2.2B
Current Assets $940.3M-12.3% $1.1B+4.5% $1.0B-5.3% $1.1B-11.5% $1.2B+7.3% $1.1B+0.1% $1.1B-1.7% $1.2B
Cash & Equivalents $320.0M-6.4% $342.0M+66.3% $205.7M-28.0% $285.9M-1.7% $290.7M+39.3% $208.7M-3.7% $216.7M-18.8% $266.9M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable $448.3M-23.0% $582.1M-12.8% $667.8M+3.2% $647.1M-19.2% $800.9M+23.9% $646.3M+2.1% $632.7M+3.6% $610.7M
Goodwill $532.5M-0.6% $535.8M+0.2% $534.9M+2.6% $521.1M+1.2% $515.2M-2.2% $526.6M+1.3% $519.9M-0.2% $521.2M
Total Liabilities $902.6M-11.1% $1.0B+2.9% $986.6M-4.0% $1.0B-13.3% $1.2B+5.6% $1.1B+2.6% $1.1B-3.4% $1.1B
Current Liabilities $737.0M-12.7% $844.7M+1.3% $833.5M-6.0% $886.8M-15.3% $1.0B+7.4% $974.6M+2.0% $955.9M-3.9% $995.0M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $1.1B-1.4% $1.1B+5.5% $1.1B+2.3% $1.1B+1.5% $1.0B-0.2% $1.1B+0.8% $1.0B+0.1% $1.0B
Retained Earnings $635.9M+0.8% $630.8M+0.6% $627.1M+3.2% $607.4M+6.2% $571.7M+2.6% $557.1M+3.7% $537.2M-1.1% $543.1M

CRTO Cash Flow Statement

Metric Q2'26 Q4'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $48.2M N/A -$1.4M-102.2% $62.3M-63.2% $169.5M+194.7% $57.5M+234.6% $17.2M+22.6% $14.0M
Capital Expenditures $32.8M N/A $35.3M+106.3% $17.1M N/A N/A $21.2M+53.3% $13.8M
Free Cash Flow $15.4M N/A -$36.6M-181.0% $45.3M N/A N/A -$4.0M-2436.4% $173K
Investing Cash Flow -$37.9M N/A -$24.2M-37.9% -$17.5M+55.0% -$38.9M-63.5% -$23.8M-12.0% -$21.3M-52.9% -$13.9M
Financing Cash Flow -$31.3M N/A -$48.3M+11.8% -$54.8M+52.8% -$116.1M-122.3% -$52.3M-30.9% -$39.9M+35.8% -$62.2M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $31.0M N/A $48.3M-14.0% $56.2M-16.3% $67.1M+22.0% $55.0M+36.3% $40.4M-35.1% $62.1M

CRTO Financial Ratios

Metric Q2'26 Q4'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 52.4% N/A 53.6%+1.1pp 52.5%-1.9pp 54.4%+3.9pp 50.5%+1.1pp 49.4%+1.1pp 48.3%
Operating Margin 2.5% N/A 6.3%-4.4pp 10.7%-6.4pp 17.1%+15.0pp 2.1%-5.8pp 7.8%+5.5pp 2.3%
Net Margin 1.8% N/A 4.4%-4.0pp 8.4%-5.1pp 13.5%+12.1pp 1.4%-4.4pp 5.7%+4.1pp 1.6%
Return on Equity 0.7% N/A 1.9%-1.6pp 3.6%-3.5pp 7.1%+6.5pp 0.6%-2.0pp 2.6%+1.9pp 0.7%
Return on Assets 0.4% N/A 1.0%-0.8pp 1.8%-1.5pp 3.3%+3.0pp 0.3%-1.0pp 1.2%+0.9pp 0.3%
Current Ratio 1.280.0 1.27+0.0 1.230.0 1.22+0.1 1.170.0 1.17-0.0 1.19+0.0 1.16
Debt-to-Equity 0.80-0.1 0.88-0.0 0.91-0.1 0.97-0.2 1.13+0.1 1.07+0.0 1.05-0.0 1.09
FCF Margin 3.6% N/A -7.6%-17.6pp 10.0% N/A N/A -0.9%-0.9pp 0.0%

Similar Companies

Frequently Asked Questions

Criteo (CRTO) reported $1.9B in total revenue for fiscal year 2025. This represents a 0.6% 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.

Criteo (CRTO) revenue grew by 0.6% year-over-year, from $1.9B to $1.9B in fiscal year 2025.

Yes, Criteo (CRTO) reported a net income of $149.0M in fiscal year 2025, with a net profit margin of 7.7%.

Criteo (CRTO) reported diluted earnings per share of $2.64 for fiscal year 2025. This represents a 38.9% 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.

Criteo (CRTO) had EBITDA of $325.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Criteo (CRTO) had a gross margin of 54.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Criteo (CRTO) had an operating margin of 10.4% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Criteo (CRTO) had a net profit margin of 7.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Criteo (CRTO) has a return on equity of 13.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Criteo (CRTO) generated $208.5M in free cash flow during fiscal year 2025. This represents a 15.8% 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.

Criteo (CRTO) generated $311.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Criteo (CRTO) had $2.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Criteo (CRTO) invested $102.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Criteo (CRTO) invested $283.3M in research and development during fiscal year 2025.

Yes, Criteo (CRTO) spent $152.1M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Criteo (CRTO) had 51M shares outstanding as of fiscal year 2025.

Criteo (CRTO) had a current ratio of 1.27 as of fiscal year 2025, which is considered adequate.

Criteo (CRTO) had a debt-to-equity ratio of 0.88 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Criteo (CRTO) had a return on assets of 6.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Criteo (CRTO) has an Altman Z-Score of 2.30, placing it in the Grey Zone (moderate 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.

Criteo (CRTO) has a Piotroski F-Score of 8 out of 9, indicating strong 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.

Criteo (CRTO) has an earnings quality ratio of 2.09x, 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.

Criteo (CRTO) has an interest coverage ratio of 82.4x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Criteo (CRTO) scores 44 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.

Back to top