CRTO · Criteo S.A. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.94B | $1.93B | $1.95B | $2.02B | $2.25B | $2.07B |
| Cost of Revenue | $770.28M | $811.81M | $926.84M | $1.09B | $1.47B | $1.38B |
| Gross Profit | $1.05B | $982.97M | $863.04M | $795.20M | $781.94M | $688.02M |
| R&D | $283.30M | $279.34M | $242.29M | $187.60M | $151.82M | $132.51M |
| SG&A | $168.94M | $176.14M | $137.53M | $205.33M | $152.63M | $116.39M |
| Total Operating Expenses | $846.62M | $831.57M | $785.83M | $770.92M | $630.07M | $579.19M |
| D&A | $33.30M | $41.10M | $51.40M | $55.60M | $65.84M | $63.30M |
| Operating Income | $202.76M | $151.40M | $77.22M | $24.28M | $151.88M | $108.83M |
| Interest Expense | $2.46M | $1.82M | $2.24M | $2.02M | $2.27M | $2.81M |
| Income Tax | $54.20M | $39.78M | $20.08M | $31.19M | $16.17M | $32.20M |
| Net Income | $144.60M | $111.57M | $53.26M | $8.95M | $134.46M | $71.68M |
| EPS - Basic | $2.73 | $2.04 | $0.95 | $0.15 | $2.21 | $1.18 |
| EPS - Diluted | $2.64 | $1.90 | $0.88 | $0.14 | $2.09 | $1.16 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $342.04M | $290.69M | $336.34M | $348.20M | $515.53M | $488.01M |
| Accounts Receivable | $582.10M | $800.86M | $775.59M | $708.95M | $581.99M | $474.06M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $566.05M | $802.52M | $838.52M | $742.92M | $430.25M | $367.02M |
| Current Assets | $1.07B | $1.22B | $1.35B | $1.26B | $1.26B | $1.06B |
| Total Assets | $2.20B | $2.27B | $2.43B | $2.35B | $1.98B | $1.85B |
| Current Liabilities | $844.65M | $1.05B | $1.18B | $1.08B | $672.55M | $600.33M |
| Long-term Debt | - | - | - | - | - | $1.50M |
| Total Liabilities | $1.02B | $1.19B | $1.32B | $1.27B | $785.27M | $700.72M |
| Stockholders' Equity | $1.15B | $1.05B | $1.08B | $1.05B | $1.16B | $1.12B |
| Retained Earnings | $630.75M | $571.74M | $555.46M | $577.65M | $601.59M | $491.36M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $311.24M | $258.16M | $224.25M | $255.99M | $220.91M | $185.36M |
| Investing Cash Flow | ($101.13M) | ($97.90M) | ($108.71M) | ($166.12M) | ($76.37M) | ($101.09M) |
| Financing Cash Flow | ($151.48M) | ($270.50M) | ($147.25M) | ($113.04M) | ($80.12M) | ($57.75M) |
| CapEx | $102.74M | $78.11M | - | - | - | - |
| Free Cash Flow | $208.50M | $180.05M | - | - | - | - |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 54.0% | 50.8% | 44.3% | 39.4% | 34.7% | 33.2% |
| Operating margin | 10.4% | 7.8% | 4.0% | 1.2% | 6.7% | 5.3% |
| EBITDA margin | 12.1% | 10.0% | 6.6% | 4.0% | 9.7% | 8.3% |
| Net margin | 7.4% | 5.8% | 2.7% | 0.4% | 6.0% | 3.5% |
| Free cash flow margin | 10.7% | 9.3% | - | - | - | - |
| FCF / Net income | 1.44 | 1.61 | - | - | - | - |
| R&D / Revenue | 14.6% | 14.4% | 12.4% | 9.3% | 6.7% | 6.4% |
| SG&A / Revenue | 8.7% | 9.1% | 7.1% | 10.2% | 6.8% | 5.6% |
| Effective tax rate | 27.3% | 26.3% | 27.4% | 77.7% | 10.7% | 31.0% |
| Return on assets | 6.6% | 4.9% | 2.2% | 0.4% | 6.8% | 3.9% |
| Return on equity | 12.6% | 10.6% | 4.9% | 0.9% | 11.6% | 6.4% |
| Return on invested capital | - | - | - | - | - | 6.7% |
| Liquidity | ||||||
| Current ratio | 1.27 | 1.17 | 1.15 | 1.17 | 1.88 | 1.77 |
| Quick ratio | 1.27 | 1.17 | 1.15 | 1.17 | 1.88 | 1.77 |
| Cash ratio | 0.40 | 0.28 | 0.28 | 0.32 | 0.77 | 0.81 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | 0.00 |
| Debt / Assets | - | - | - | - | - | 0.00 |
| Debt / EBITDA | - | - | - | - | - | 0.01 |
| Interest coverage | 82.4x | 83.0x | 34.4x | 12.0x | 66.9x | 38.7x |
| Equity multiplier | 1.92 | 2.16 | 2.25 | 2.24 | 1.71 | 1.66 |
| Liabilities / Assets | 0.46 | 0.52 | 0.54 | 0.54 | 0.40 | 0.38 |
| Efficiency | ||||||
| Asset turnover | 0.88 | 0.85 | 0.80 | 0.86 | 1.14 | 1.12 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 109d | 151d | 145d | 128d | 94d | 83d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 268d | 361d | 330d | 249d | 107d | 97d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 7.8x | 20.8x | 28.8x | 186.1x | 18.6x | 17.7x |
| P / B | 1.0x | 2.2x | 1.4x | 1.6x | 2.1x | 1.1x |
| P / S | 0.6x | 1.2x | 0.8x | 0.8x | 1.1x | 0.6x |
| EV / EBITDA | 3.3x | 10.5x | 9.2x | 16.1x | 9.1x | 4.5x |
| Growth | ||||||
| Revenue growth (YoY) | 0.6% | -0.8% | -3.3% | -10.5% | 8.8% | -8.4% |
| Revenue CAGR (3y) | -1.2% | -5.0% | -2.0% | -3.7% | 7.8% | -3.4% |
| Revenue CAGR (5y) | -1.3% | -3.1% | 1.6% | -2.6% | 4.6% | - |
| Gross profit growth (YoY) | 6.8% | 13.9% | 8.5% | 1.7% | 13.7% | -17.0% |
| Operating income growth (YoY) | 33.9% | 96.1% | 218.1% | -84.0% | 39.6% | -22.9% |
| Net income growth (YoY) | 29.6% | 109.5% | 494.9% | -93.3% | 87.6% | -21.0% |
| EPS growth (YoY) | 38.9% | 115.9% | 528.6% | -93.3% | 80.2% | -15.9% |
| EPS CAGR (3y) | 166.2% | -3.1% | -8.8% | -53.4% | 16.8% | -4.7% |
| EPS CAGR (5y) | 17.9% | 6.6% | -7.6% | -36.3% | 10.8% | - |
| FCF growth (YoY) | 15.8% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 9.5% | -2.8% | 3.0% | -9.9% | 4.1% | 10.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.94B totalPerformance Media$1.68B · 86.4%
Retail Media$263.87M · 13.6%
Product / service
$1.68B totalCommerce Growth$1.56B · 93.0%
Other$117.94M · 7.0%
Geographic
$3.22B totalAmericas$836.67M · 26.0%
US$753.29M · 23.4%
EMEA$728.05M · 22.6%
Asia Pacific$380.18M · 11.8%
JP$221.09M · 6.9%
DE$207.60M · 6.5%
FR$88.89M · 2.8%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.96
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
8/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Advertising Agencies
Comparing Criteo S.A. against the 5 most active filers in the same SIC group.