NASDAQ : CRTO
Criteo S.A. — Financial statements
Communication Services · Advertising Agencies · France
Last price 14.65 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 717.81M
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Financial statements
Criteo S.A. (CRTO) reported revenue of 1.86B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.86B | 1.94B | 1.93B | 1.95B | 2.02B | 2.25B |
| Cost of Revenue | 864.61M | 895.52M | 950.32M | 1.09B | 1.22B | 1.47B |
| Gross Profit | 998.84M | 1.05B | 982.97M | 863.04M | 795.20M | 781.94M |
| Selling, General & Admin | 544.05M | 560.27M | 545.33M | 524.04M | 583.33M | 478.25M |
| Research & Development | 282.11M | 280.84M | 272.05M | 238.79M | 187.60M | 151.82M |
| Operating Expenses | 826.16M | 841.11M | 817.38M | 762.83M | 770.92M | 630.07M |
| Operating Income | 172.68M | 208.27M | 165.59M | 100.22M | 24.28M | 151.88M |
| Interest Expense | -2.80M | -2.46M | -1.82M | -2.24M | -2.02M | -2.27M |
| Interest & Investment Income | 7.87M | 5.66M | 10.07M | 4.68M | 1.93M | 634.00K |
| Currency Exchange Gain (Loss) | -2.29M | -2.22M | -3.53M | -7.55M | 19.66M | -1.78M |
| Other Non Operating Income (Expenses) | -280.00K | -171.00K | -1.61M | 2.63M | -1.78M | 5.35M |
| EBT Excluding Unusual Items | 175.18M | 209.08M | 168.69M | 97.73M | 42.06M | 153.82M |
| Merger & Restructuring Charges | -20.67M | -3.04M | -8.50M | -23.00M | ||
| Asset Writedown | -2.46M | -2.46M | -5.69M | |||
| Pretax Income | 152.05M | 203.57M | 154.50M | 74.73M | 42.06M | 153.82M |
| Income Tax Expense | 45.27M | 54.20M | 39.78M | 20.08M | 31.19M | 16.17M |
| Earnings From Continuing Operations | 106.78M | 149.38M | 114.71M | 54.64M | 10.88M | 137.65M |
| Minority Interest in Earnings | -2.35M | -4.78M | -3.14M | -1.39M | -1.92M | -3.19M |
| Net Income | 104.43M | 144.60M | 111.57M | 53.26M | 8.95M | 134.46M |
| Net Income to Common | 104.43M | 144.60M | 111.57M | 53.26M | 8.95M | 134.46M |
| Shares Outstanding (Basic) | 51.20M | 52.93M | 54.82M | 56.17M | 60.00M | 60.72M |
| Shares Outstanding (Diluted) | 52.09M | 54.79M | 58.61M | 60.23M | 62.76M | 64.23M |
| EPS (Basic) | 2.04 | 2.73 | 2.04 | 0.95 | 0.15 | 2.21 |
| EPS (Diluted) | 2.01 | 2.64 | 1.90 | 0.88 | 0.14 | 2.09 |
| Free Cash Flow | 177.31M | 208.50M | 180.05M | 108.13M | 192.17M | 165.93M |
| Free Cash Flow Per Share | 3.40 | 3.81 | 3.07 | 1.79 | 3.06 | 2.58 |
| Gross Margin | 53.60% | 53.95% | 50.84% | 44.27% | 39.42% | 34.69% |
| Operating Margin | 9.27% | 10.71% | 8.57% | 5.14% | 1.20% | 6.74% |
| Profit Margin | 5.60% | 7.43% | 5.77% | 2.73% | 0.44% | 5.96% |
| Free Cash Flow Margin | 9.52% | 10.72% | 9.31% | 5.55% | 9.53% | 7.36% |
| EBITDA | 285.59M | 322.69M | 266.78M | 199.87M | 113.30M | 242.81M |
| EBITDA Margin | 15.33% | 16.59% | 13.80% | 10.25% | 5.62% | 10.77% |
| D&A For EBITDA | 112.91M | 114.42M | 101.19M | 99.65M | 89.02M | 90.93M |
| EBIT | 172.68M | 208.27M | 165.59M | 100.22M | 24.28M | 151.88M |
| EBIT Margin | 9.27% | 10.71% | 8.57% | 5.14% | 1.20% | 6.74% |
| Effective Tax Rate | 29.77% | 26.62% | 25.75% | 26.88% | 74.15% | 10.51% |
| Advertising Expenses | 4.40M | 1.90M | 1.70M | 7.60M | 2.50M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 252.24M | 342.04M | 290.69M | 336.34M | 348.20M | 515.53M |
| Short-Term Investments | 28.05M | 23.24M | 26.24M | 5.97M | 25.10M | 50.30M |
| Cash & Short-Term Investments | 280.29M | 365.28M | 316.94M | 342.31M | 373.30M | 565.83M |
| Accounts Receivable | 455.97M | 582.10M | 800.86M | 775.59M | 708.95M | 581.99M |
| Other Receivables | 79.14M | 76.78M | 55.43M | 71.00M | 108.65M | 91.43M |
| Receivables | 535.10M | 658.88M | 856.29M | 846.59M | 817.60M | 673.42M |
| Prepaid Expenses | 32.86M | 24.55M | 15.28M | |||
| Restricted Cash | 105.00K | 300.00K | 300.00K | 75.00M | 25.00M | |
| Other Current Assets | 57.58M | 47.41M | 50.59M | 15.43M | 20.55M | 9.64M |
| Total Current Assets | 873.07M | 1.07B | 1.22B | 1.31B | 1.26B | 1.26B |
| Property, Plant & Equipment | 302.77M | 273.54M | 206.69M | 238.98M | 233.38M | 260.22M |
| Long-Term Investments | 30.86M | 31.81M | 19.92M | 21.87M | 5.93M | 11.44M |
| Goodwill | 531.79M | 535.76M | 515.19M | 524.20M | 515.14M | 329.70M |
| Other Intangible Assets | 141.36M | 151.85M | 158.38M | 180.89M | 175.98M | 82.63M |
| Long-Term Deferred Tax Assets | 84.94M | 90.69M | 81.01M | 52.68M | 31.65M | 35.44M |
| Other Long-Term Assets | 45.99M | 45.68M | 61.15M | 60.74M | 125.82M | |
| Total Assets | 2.01B | 2.20B | 2.27B | 2.39B | 2.35B | 1.98B |
| Accounts Payable | 457.11M | 566.05M | 802.52M | 838.52M | 742.92M | 430.25M |
| Accrued Expenses | 134.50M | 165.97M | 160.36M | 162.89M | 161.27M | 175.79M |
| Current Portion of Long-Term Debt | 9.64M | 11.36M | 3.33M | 3.39M | 219.00K | 642.00K |
| Current Portion of Leases | 36.41M | 33.09M | 25.81M | 35.40M | 31.00M | 34.07M |
| Current Income Taxes Payable | 8.32M | 27.53M | 34.86M | 17.21M | 13.04M | 6.64M |
| Current Unearned Revenue | 10.00K | 82.00K | ||||
| Other Current Liabilities | 31.73M | 40.66M | 19.71M | 82.70M | 131.53M | 25.08M |
| Total Current Liabilities | 677.72M | 844.65M | 1.05B | 1.14B | 1.08B | 672.55M |
| Long-Term Debt | 77.00K | 74.00K | 360.00K | |||
| Long-Term Leases | 102.13M | 105.28M | 77.58M | 83.05M | 77.54M | 93.89M |
| Pension & Post-Retirement Benefits | 6.04M | 5.71M | 4.71M | 4.12M | 3.71M | 5.53M |
| Long-Term Deferred Tax Liabilities | 5.13M | 5.29M | 4.07M | 1.08M | 3.46M | 3.05M |
| Other Long-Term Liabilities | 55.64M | 54.55M | 52.39M | 51.71M | 103.01M | 9.89M |
| Total Liabilities | 846.65M | 1.02B | 1.19B | 1.28B | 1.27B | 785.27M |
| Common Stock | 1.81M | 1.87M | 1.93M | 2.02M | 2.08M | 2.15M |
| Additional Paid-In Capital | 706.53M | 706.32M | 709.58M | 769.24M | 734.49M | 731.25M |
| Retained Earnings | 608.28M | 630.75M | 571.74M | 555.46M | 577.65M | 601.59M |
| Treasury Stock | -108.99M | -120.85M | -125.30M | -161.79M | -174.29M | -131.56M |
| Comprehensive Income & Other | -80.12M | -68.88M | -108.77M | -85.33M | -91.89M | -40.29M |
| Total Common Equity | 1.13B | 1.15B | 1.05B | 1.08B | 1.05B | 1.16B |
| Minority Interest | 36.62M | 36.52M | 31.91M | 31.79M | 33.06M | 35.19M |
| Shareholders' Equity | 1.16B | 1.19B | 1.08B | 1.11B | 1.08B | 1.20B |
| Total Liabilities & Equity | 2.01B | 2.20B | 2.27B | 2.39B | 2.35B | 1.98B |
| Total Debt | 148.19M | 149.72M | 106.72M | 121.92M | 108.83M | 128.96M |
| Net Cash (Debt) | 154.89M | 239.06M | 225.80M | 236.97M | 264.47M | 441.87M |
| Net Cash Per Share | 2.97 | 4.36 | 3.85 | 3.93 | 4.21 | 6.88 |
| Filing Date Shares Outstanding | 49.00M | 49.86M | 54.34M | 55.23M | 55.83M | 60.76M |
| Total Common Shares Outstanding | 48.55M | 51.15M | 54.28M | 55.77M | 57.26M | 60.68M |
| Working Capital | 195.36M | 227.22M | 177.51M | 172.07M | 181.00M | 591.62M |
| Book Value Per Share | 23.22 | 22.47 | 19.33 | 19.36 | 18.30 | 19.17 |
| Tangible Book Value | 454.36M | 461.60M | 375.62M | 374.52M | 356.92M | 750.80M |
| Tangible Book Value Per Share | 9.36 | 9.02 | 6.92 | 6.72 | 6.23 | 12.37 |
| Machinery | 317.05M | 288.12M | 308.27M | 300.88M | 347.81M | |
| Construction In Progress | 11.90M | 876.00K | 46.58M | 47.53M | 13.40M | |
| Leasehold Improvements | 24.49M | 20.73M | 17.74M | 12.97M | 13.43M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 104.43M | 144.60M | 111.57M | 53.26M | 8.95M | 134.46M |
| Depreciation & Amortization | 112.91M | 114.42M | 101.19M | 99.65M | 89.02M | 90.93M |
| Loss (Gain) From Sale of Assets | -365.00K | 1.73M | 7.42M | -7.93M | -194.00K | 1.97M |
| Asset Writedown & Restructuring Costs | 7.90M | 7.90M | ||||
| Stock-Based Compensation | 51.04M | 57.85M | 102.62M | 97.19M | 65.03M | 44.53M |
| Other Operating Activities | 1.33M | -1.92M | -15.97M | -84.16M | 33.09M | -9.36M |
| Change in Accounts Receivable | 214.88M | 245.98M | -28.52M | -56.34M | -41.91M | -134.95M |
| Change in Accounts Payable | -163.10M | -265.39M | -17.16M | 87.94M | 133.79M | 82.69M |
| Change in Other Net Operating Assets | -10.22M | 6.07M | -2.99M | 34.64M | -31.80M | 10.65M |
| Operating Cash Flow | 318.80M | 311.24M | 258.16M | 224.25M | 255.99M | 220.91M |
| Capital Expenditures | -141.49M | -102.74M | -78.11M | -116.11M | -63.81M | -54.98M |
| Sale of Property, Plant & Equipment | 2.71M | 2.01M | 1.48M | 1.80M | 7.97M | |
| Cash Acquisitions | -527.00K | -6.83M | -138.03M | -10.42M | ||
| Investment in Securities | -16.30M | -407.00K | -20.74M | 12.42M | 27.75M | -12.94M |
| Other Investing Activities | 1.97M | |||||
| Investing Cash Flow | -155.08M | -101.13M | -97.90M | -108.71M | -166.12M | -76.37M |
| Long-Term Debt Repaid | -265.00K | -5.29M | ||||
| Net Debt Issued (Repaid) | -265.00K | -5.29M | ||||
| Issuance of Common Stock | 1.90M | 4.55M | 1.95M | 1.03M | 25.20M | |
| Repurchase of Common Stock | -108.89M | -152.06M | -224.59M | -125.49M | -135.69M | -100.03M |
| Other Financing Activities | -1.41M | -1.31M | -50.45M | -23.71M | 21.88M | |
| Financing Cash Flow | -110.30M | -151.48M | -270.50M | -147.25M | -113.04M | -80.12M |
| Foreign Exchange Rate Adjustments | -7.11M | -7.21M | -10.16M | -5.14M | -44.15M | -36.91M |
| Net Cash Flow | 46.32M | 51.42M | -120.40M | -36.86M | -67.33M | 27.52M |
| Free Cash Flow | 177.31M | 208.50M | 180.05M | 108.13M | 192.17M | 165.93M |
| Free Cash Flow Margin | 9.52% | 10.72% | 9.31% | 5.55% | 9.53% | 7.36% |
| Free Cash Flow Per Share | 3.40 | 3.81 | 3.07 | 1.79 | 3.06 | 2.58 |
| Levered Free Cash Flow | 178.64M | 182.21M | 206.89M | 112.33M | 325.72M | 140.97M |
| Unlevered Free Cash Flow | 180.39M | 183.75M | 208.03M | 113.74M | 326.99M | 142.39M |
| Cash Interest Paid | 1.99M | 1.58M | 1.36M | 1.54M | 1.30M | 1.49M |
| Cash Income Tax Paid | 35.51M | 64.93M | 40.70M | 40.13M | 38.12M | 28.77M |
| Change in Working Capital | 41.55M | -13.35M | -48.67M | 66.23M | 60.08M | -41.61M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Debt / Equity Ratio | 0.13 | 0.13 | 0.10 | 0.11 | 0.10 | 0.11 |
| Debt / EBITDA Ratio | 0.45 | 0.42 | 0.35 | 0.51 | 0.74 | 0.45 |
| Debt / FCF Ratio | 0.84 | 0.72 | 0.59 | 1.13 | 0.57 | 0.78 |
| Net Debt / Equity Ratio | -0.13 | -0.20 | -0.21 | -0.21 | -0.24 | -0.37 |
| Net Debt / EBITDA Ratio | -0.54 | -0.74 | -0.85 | -1.19 | -2.33 | -1.82 |
| Net Debt / FCF Ratio | -0.87 | -1.15 | -1.25 | -2.19 | -1.38 | -2.66 |
| Asset Turnover | 0.90 | 0.87 | 0.83 | 0.82 | 0.93 | 1.18 |
| Quick Ratio | 1.20 | 1.21 | 1.12 | 1.04 | 1.10 | 1.84 |
| Current Ratio | 1.29 | 1.27 | 1.17 | 1.15 | 1.17 | 1.88 |
| Return on Equity (ROE) | 9.32% | 13.18% | 10.46% | 4.98% | 0.95% | 11.71% |
| Return on Assets (ROA) | 5.23% | 5.83% | 4.44% | 2.64% | 0.70% | 4.95% |
| Return on Invested Capital (ROIC) | 12.14% | 16.60% | 13.96% | 8.58% | 0.80% | 17.42% |
| Return on Capital Employed (ROCE) | 13.00% | 15.40% | 13.60% | 8.00% | 1.90% | 11.60% |
| Buyback Yield / Dilution | 8.79% | 6.51% | 2.70% | 4.03% | 2.29% | -3.90% |