CRTO
Criteo S.A.
Next earnings Jul 28, 2026 (before open) · consensus $0.72 EPS, $268M rev
Last earnings -21.2% on 2026-05-06
$17.66
▲ +1.03%$17.66▼ -25.42%
over 1Y
L $15.86EODHDH $24.92
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.0%
1W+6.6%
1M-1.2%
3M+2.8%
YTD-11.9%
1Y-25.4%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 18 analysts
Buy
CRTO at 6.8x earnings with $342M cash, accelerating margins and aggressive buybacks — a cheap, cash-generative ad-tech turnaround.
P/E ratio 6.8 · FY2025
The read
Quality fundamentals and an attractive price line up (~366% below fair value) — the rarer case where both the business and the entry look good.
Criteo is quietly executing a credible margin turnaround at a giveaway valuation. FY2025 revenue was essentially flat at $1.94B (+0.6% YoY), but the quality of earnings underneath improved sharply: operating income jumped 33.9% to $203M, net income rose 29.6% to $145M, and diluted EPS climbed 38.9% to $2.64 — a 6.8x P/E and 0.5x P/S on a business throwing off $311M of operating cash flow (+20.6%). Gross margin of 54% and ROE of 12.6% are healthy for ad-tech, and the balance sheet is a fortress: $342M cash, near-zero debt (long-term debt of just $1.5M per the data), and liabilities/equity of 0.88x that actually fell 14.3% YoY.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $2.25B | $2.02B | $1.95B | $1.93B | $1.94B |
| Gross profit | $782M | $795M | $863M | $983M | $1.05B |
| Operating income | $152M | $24.3M | $77.2M | $151M | $203M |
| Net income | $134M | $8.95M | $53.3M | $112M | $145M |
| Diluted EPS | $2.09 | $0.14 | $0.88 | $1.90 | $2.64 |
| Net margin | 6.0% | 0.4% | 2.7% | 5.8% | 7.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$541M
EV / EBITDA—
EV / Sales0.3
EV / FCF2.6
P / FCF4.2
PEG (trailing)0.23
Earnings yield16.4%
FCF yield23.7%
Quality & risk
ROIC (est.)13.9%
Free cash flow$208M
Total debt$2.49M
Net cash$340M
Altman Z-Score2.23 grey
Piotroski F-Score9/9
Capital returns
Buyback yield17.3%
Dividend yield (est.)—
Shareholder yield17.3%
Shares Δ YoY-8.3%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- DEF 14A Proxy statement2026-05-08
2026 proxy: director slate, say-on-pay and routine governance items
- 8-K Earnings results2026-05-06
Q1 2026 10-Q filed; ongoing disclosure with no flagged control issues
- 10-Q Quarterly report2026-05-06
Q1 2026 10-Q filed; ongoing disclosure with no flagged control issues
- 8-K Charter / bylaws change2026-04-28
FY2025 10-K amendment (Part III proxy info); not a restatement
- 10-K/A Restated periodic report2026-04-28
FY2025 10-K amendment (Part III proxy info); not a restatement
- 8-K Shareholder vote2026-02-27
Annual shareholder vote results disclosed; routine governance item
- 10-K Annual report2026-02-26
FY25 10-K: rev $1.94B, op inc +34%, ICFR effective, $67M buyback left
- 8-K Other event2026-02-13
Other-events disclosure; non-material corporate update
- 8-K Earnings results2026-02-11
FY2025 results: EPS +39%, net income +30%, OCF +21% — strong beat
Recent filings
all on EDGAR ↗4Period ending 2026-06-012026-06-02open ↗4Period ending 2026-06-012026-06-02open ↗144Filing2026-06-01open ↗144Filing2026-06-01open ↗4Period ending 2026-05-262026-05-28open ↗4Period ending 2026-05-262026-05-28open ↗144Filing2026-05-26open ↗144Filing2026-05-26open ↗SCHEDULE 13GFiling2026-05-15open ↗SCHEDULE 13G/AFiling2026-05-14open ↗DEFA14AFiling2026-05-08open ↗DEFA14AFiling2026-05-08open ↗
Frequently asked
- Is Criteo S.A. (CRTO) a buy?
- CRTO currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. CRTO at 6.8x earnings with $342M cash, accelerating margins and aggressive buybacks — a cheap, cash-generative ad-tech turnaround.
- What is CRTO's fair value?
- A Modified-Graham model based on CRTO's SEC fundamentals estimates a fair value of about $82.25. It is an estimate from reported earnings, not a price target.
- Is CRTO overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CRTO currently appears undervalued relative to its SEC-grounded earnings power.
- What is Criteo S.A.'s quality score?
- CRTO scores 77.09803921568627/100 (grade B+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001576427, latest 10-Q filed 2026-05-06) · EODHD · analysis by claude-code · as of 6/25/2026, 2:44:53 PM.
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