Detailed financial statements for Crown Crafts, Inc. (CRWS): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
Crown Crafts, Inc. (CRWS) operates globally through its subsidiaries, making it a key player in the consumer goods market. The company specializes in a diverse array of merchandise designed for infants, toddlers, and young children.
Analysis Summary
Crown Crafts, Inc. reported revenue of $82.3M in the most recent fiscal year, growing at a 5-year CAGR of 0.8%. Net income reached $1.8M, with a -21.2% 5-year CAGR.
Trailing-twelve-month margins: gross margin 24.4%, operating margin 1.3%, net margin 2.2%. Free cash flow grew at 0.6% CAGR over 5 years.
At the current price of $2.55, CRWS trades at a P/E of 13.75 and an ROE of 4.75%. Market capitalisation stands at $27M.
Balance sheet quality for CRWS: current ratio of 3.6, net debt of $23.6M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Cash flow quality is strong: free cash flow of $8.3M represents 448% conversion of reported net income. High conversion (above 90%) suggests earnings translate cleanly into cash; lower conversion may indicate working capital tightness or accounting timing differences.
Income Statement (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $66.0M | $70.3M | $76.4M | $73.4M | $79.2M | $87.4M | $75.1M | $87.6M | $87.2M | $82.3M |
| Cost of Revenue | $46.6M | $50.5M | $54.1M | $51.8M | $55.1M | $64.1M | $55.2M | $64.6M | $66.8M | $62.2M |
| Gross Profit | $19.4M | $19.8M | $22.3M | $21.6M | $24.1M | $23.3M | $19.8M | $23.0M | $20.5M | $20.1M |
| Research & Development | 0 | $73000 | $110000 | $110000 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $10.7M | $14.3M | $15.2M | $12.7M | $14.2M | $12.2M | $11.9M | $15.2M | $16.1M | $17.9M |
| Operating Expenses | $10.7M | $14.3M | $15.2M | $13.9M | $16.5M | $13.0M | $12.7M | $16.1M | $16.1M | $19.0M |
| Operating Income | $8.7M | $5.5M | $7.1M | $7.7M | $7.6M | $10.3M | $7.2M | $6.9M | $4.4M | $1.1M |
| EBITDA | $10.0M | $7.0M | $8.6M | $9.5M | $7.8M | $11.8M | $8.6M | $8.7M | -$4.8M | $6.9M |
| Interest Expense | $68000 | $162000 | $325000 | $2000 | $83000 | $50000 | $287000 | $1.1M | $1.6M | $1.4M |
| Pre-tax Income | $8.8M | $5.4M | $6.8M | $7.8M | $7.7M | $12.3M | $7.4M | $6.2M | -$12.4M | $2.6M |
| Income Tax | $3.2M | $2.4M | $1.8M | $1.2M | $1.6M | $2.4M | $1.8M | $1.3M | -$3.1M | $795000 |
| Net Income | $5.6M | $3.0M | $5.0M | $6.6M | $6.1M | $9.9M | $5.7M | $4.9M | -$9.4M | $1.8M |
| EPS | $0.56 | $0.30 | $0.50 | $0.65 | $0.60 | $0.99 | $0.56 | $0.48 | $-0.90 | $0.17 |
| EPS (Diluted) | $0.55 | $0.30 | $0.50 | $0.65 | $0.60 | $0.98 | $0.56 | $0.48 | $-0.90 | $0.17 |
| Shares Outstanding (Diluted) | $10.0M | $10.1M | $10.1M | $10.2M | $10.2M | $10.1M | $10.1M | $10.2M | $10.4M | $10.7M |
Balance Sheet (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.9M | $215000 | $143000 | $282000 | $613000 | $1.6M | $1.7M | $829000 | $521000 | $200000 |
| Short-term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Receivables | $15.6M | $18.5M | $17.8M | $17.8M | $19.3M | $23.2M | $22.8M | $22.4M | $24.5M | $18.9M |
| Inventory | $15.8M | $19.8M | $19.5M | $17.7M | $20.3M | $20.7M | $34.2M | $29.7M | $27.8M | $28.4M |
| Total Current Assets | $41.1M | $39.8M | $38.7M | $37.0M | $41.5M | $46.5M | $60.4M | $54.8M | $55.3M | $49.6M |
| Property, Plant & Equipment | $441000 | $1.8M | $1.9M | $6.9M | $5.5M | $3.8M | $19.0M | $16.6M | $14.1M | $11.0M |
| Goodwill | $1.1M | $7.1M | $7.1M | $7.1M | $7.1M | $7.1M | $7.9M | $7.9M | 0 | 0 |
| Intangible Assets | $3.1M | $7.3M | $6.4M | $5.6M | $3.2M | $2.7M | $3.5M | $2.9M | $7.0M | $6.3M |
| Total Assets | $47.2M | $56.6M | $54.8M | $57.2M | $58.1M | $60.2M | $91.0M | $82.7M | $81.2M | $70.7M |
| Accounts Payable | $5.1M | $3.8M | $4.2M | $3.0M | $5.5M | $6.4M | $7.5M | $4.5M | $5.2M | $4.9M |
| Short-term Debt | 0 | 0 | 0 | $191000 | $2.0M | 0 | 0 | 0 | $2.0M | $2.0M |
| Total Current Liabilities | $7.6M | $6.8M | $7.7M | $6.5M | $12.9M | $11.8M | $13.1M | $10.5M | $15.5M | $13.9M |
| Long-term Debt | 0 | $9.5M | $4.5M | $2.6M | 0 | 0 | $12.7M | $8.1M | $16.5M | $12.1M |
| Total Liabilities | $8.3M | $17.3M | $13.4M | $14.7M | $16.2M | $14.4M | $41.8M | $31.1M | $41.5M | $31.8M |
| Retained Earnings | -$1.2M | -$1.4M | $338000 | $1.1M | $2.2M | $5.4M | $7.8M | $9.4M | -$3.3M | -$4.8M |
| Total Equity | $38.9M | $39.3M | $41.4M | $42.4M | $41.9M | $45.8M | $49.2M | $51.6M | $39.6M | $38.8M |
| Total Debt | 0 | $9.5M | $4.5M | $7.7M | $6.4M | $2.6M | $30.0M | $23.8M | $31.6M | $23.9M |
| Net Debt | -$7.9M | $9.2M | $4.3M | $7.4M | $5.8M | $1.0M | $28.2M | $23.0M | $31.1M | $23.6M |
| Working Capital | $33.5M | $33.0M | $31.0M | $30.6M | $28.5M | $34.7M | $47.3M | $44.4M | $39.8M | $35.7M |
Cash Flow (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $5.6M | $3.0M | $5.0M | $6.6M | $6.1M | $9.9M | $5.7M | $4.9M | -$9.4M | $1.8M |
| Depreciation & Amortization | $932000 | $1.1M | $1.4M | $3.2M | $3.4M | $2.9M | $3.3M | $5.8M | $6.1M | $1.5M |
| Stock-based Compensation | $604000 | $539000 | $377000 | $297000 | $394000 | $834000 | $1.1M | $763000 | $752000 | $767000 |
| Change in Working Capital | $4.1M | -$2.6M | $980000 | -$1.1M | -$3.0M | -$4.2M | $2.9M | -$3.3M | $2.8M | -$561000 |
| Operating Cash Flow | $10.4M | $2.5M | $9.0M | $8.5M | $8.7M | $8.3M | $7.7M | $7.1M | $9.8M | $8.3M |
| Capital Expenditure | -$191000 | -$221000 | -$751000 | -$705000 | -$733000 | -$531000 | -$813000 | -$786000 | -$67000 | -$11000 |
| Acquisitions | 0 | -$15.2M | 0 | $27000 | 0 | $41000 | -$16.1M | $105000 | -$16.3M | 0 |
| Stock Repurchased | -$947000 | -$56000 | -$95000 | -$82000 | -$2.8M | -$412000 | -$207000 | 0 | 0 | 0 |
| Dividends Paid | -$9.7M | -$3.2M | -$3.2M | -$5.8M | -$5.0M | -$6.7M | -$3.2M | -$3.2M | -$3.3M | -$3.3M |
| Free Cash Flow | $10.2M | $2.2M | $8.2M | $7.8M | $8.0M | $7.7M | $6.9M | $6.3M | $9.8M | $8.3M |
Growth & Margins (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Growth (YoY) | +6.5% | +8.7% | -3.9% | +7.9% | +10.4% | -14.1% | +16.8% | -0.4% | -5.7% | |
| Net Income Growth (YoY) | -45.8% | +66.1% | +30.7% | -7.3% | +63.1% | -43.0% | -13.4% | -291.2% | +119.7% | |
| EPS Growth (YoY) | -46.4% | +66.7% | +30.0% | -7.7% | +65.0% | -43.4% | -14.3% | -287.5% | +118.9% | |
| Shares Change (YoY) | +0.4% | +0.1% | +0.6% | +0.0% | -0.7% | +0.4% | +0.9% | +1.8% | +2.9% | |
| FCF Growth (YoY) | -78.1% | +268.4% | -4.8% | +2.3% | -3.4% | -10.4% | -9.1% | +54.9% | -15.3% | |
| Gross Margin | 29.4% | 28.1% | 29.2% | 29.4% | 30.4% | 26.7% | 26.4% | 26.2% | 23.5% | 24.4% |
| Operating Margin | 13.2% | 7.8% | 9.3% | 10.5% | 9.7% | 11.8% | 9.6% | 7.9% | 5.0% | 1.3% |
| EBITDA Margin | 15.2% | 9.9% | 11.3% | 12.9% | 9.9% | 13.5% | 11.5% | 9.9% | -5.5% | 8.4% |
| Net Margin | 8.4% | 4.3% | 6.6% | 8.9% | 7.7% | 11.4% | 7.5% | 5.6% | -10.7% | 2.2% |
| FCF Margin | 15.5% | 3.2% | 10.8% | 10.7% | 10.1% | 8.9% | 9.2% | 7.2% | 11.2% | 10.0% |
| Effective Tax Rate | 36.7% | 44.3% | 26.1% | 15.5% | 21.3% | 19.5% | 23.9% | 21.4% | 24.6% | 30.1% |
Per-Share Data (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| FCF Per Share | $1.02 | $0.22 | $0.81 | $0.77 | $0.79 | $0.77 | $0.68 | $0.62 | $0.94 | $0.77 |
| Dividends Per Share | $0.97 | $0.32 | $0.32 | $0.57 | $0.49 | $0.67 | $0.32 | $0.32 | $0.32 | $0.31 |
| Shares Outstanding (Basic) | $10.0M | $10.1M | $10.1M | $10.1M | $10.1M | $10.1M | $10.1M | $10.2M | $10.4M | $10.7M |
What to look at in Consumer Cyclical companies
- 5y avg operating margin (Cycle average) — Look at the cycle average, not the current year (peak or trough).
- Inventory turnover (>=4x/year) — Healthy retail rotates inventory fast. A drop signals weak demand.
- 5y avg ROIC (>=12%) — Cyclicals with avg ROIC >12% are structural winners.
- Net debt / EBITDA (peak) (<3x trough) — In cyclicals debt kills in recessions.
- Current Ratio (>1.5x) — Survives 12-18 months without operating cash.
- Altman Z-Score (>2.99 safe) — Bankruptcy model — key in cyclicals sensitive to recessions.
Profitability
| Return on Equity | 4.75% |
| Return on Invested Capital | 1.22% |
| Return on Assets | 2.61% |
| Gross Margin | 24.41% |
| Operating Margin | 1.34% |
| Net Margin | 2.24% |
Financial Health
| Debt / Equity | 0.61 |
| Current Ratio | 3.58 |
Key Ratios (10y)
| Year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 14.70 | 19.67 | 10.30 | 7.31 | 12.72 | 6.61 | 10.18 | 11.10 | -4.04 | 14.94 |
| P/B | 2.12 | 1.51 | 1.26 | 1.14 | 1.85 | 1.44 | 1.17 | 1.05 | 0.96 | 0.70 |
| P/S | 1.25 | 0.85 | 0.68 | 0.66 | 0.98 | 0.75 | 0.77 | 0.62 | 0.43 | 0.33 |
| Gross Margin | 29.4% | 28.1% | 29.2% | 29.4% | 30.4% | 26.7% | 26.4% | 26.2% | 23.5% | 24.4% |
| Operating Margin | 13.2% | 7.8% | 9.3% | 10.5% | 9.7% | 11.8% | 9.6% | 7.9% | 5.0% | 1.3% |
| Net Margin | 8.4% | 4.3% | 6.6% | 8.9% | 7.7% | 11.4% | 7.5% | 5.6% | -10.7% | 2.2% |
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Explore sector: Consumer Cyclical · Furnishings, Fixtures & Appliances
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