CRCTCricut, Inc.
Is the business good?
A genuinely good business: earnings fully cash-backed (2.2×) and margins widening.
Operating profit is fully backed by cash. Conversion is worsening vs a year ago.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
A balanced mix of margins, efficiency, and leverage. ROE 22% = margin × turnover × leverage.
Unless marked, from derived.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CRCT?
Cricut, Inc. keeps 16% of every revenue dollar as operating profit, against 0.31% for the median Computer Hardware name.
Operating margin · Computer Hardware median 0.31% · 12 months to Q2 2026
- Cash conversion
- 2.25×
Cash conversion · 4.37× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −1.6%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 9.8%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 21% |
| FY2021 | 15% |
| FY2022 | 9.0% |
| FY2023 | 9.2% |
| FY2024 | 11% |
| FY2025 | 14% |
Details›
- Gross margin12 months to Q2 2026
- 58%
- Operating margin12 months to Q2 2026
- 16%
- Net margin12 months to Q2 2026
- 13%
- R&D as % of revenue
- 9.8%
- Revenue, trailing twelve months
- $690M
- Net income, trailing twelve months
- $88M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.