Cricut, Inc.

Rank #36Value

CRCT · Nasdaq · Technology

Cricut, Inc. (CRCT) — Rank #36 by gross profitability (GP/assets 0.67) · ROE 20.8% · Piotroski F-Score 6 / 9.

As-of 2026-09-15 · CIK 0001828962 · all metrics point-in-time as of the filing date.

About

Cricut, Inc. engages in the design, marketing, and distribution of a creativity platform that enables users to turn ideas into professional-looking handmade goods in the United States, Canada, the United Kingdom, Ireland, Australia, New Zealand, Western Europe, the Middle East, Latin America, South Africa, and Asia.

It operates through Platform and Products segments. The company offers connected machines, accessories, and materials for users to create personalized birthday cards, mugs, T-shirts, and large-scale interior decorations. Its connected machines, which are used to cut, write, score, and create decorative effects on paper, adhesive vinyl, iron-on vinyl, wood, and leather, comprise Cricut Joy family, Cricut Explore family, Cricut Maker family, and Cricut Venture. The company also provides Cricut Design Space, a cloud-based software that integrates with connected machines to enable users to create and work on projects across desktop and mobile devices; Cricut Access and Cricut Access Premium subscription offerings; and in-app purchases of images, fonts, and projects. In addition, it offers a range of accessories and materials, such as Cricut EasyPress, Cricut Mug Press, hand tools, machine replacement tools and blades, and project materials, such as vinyl and iron-on. Further, the company provides craft, DIY, home décor products, and extensions. It offers its products through its third-party brick-and-mortar and online retail partners; and its website cricut.com, as well as through a network of distributors. Cricut, Inc. was formerly known as Provo Craft & Novelty, Inc. and changed its name to Cricut, Inc. in March 2018.

The company was incorporated in 1969 and is headquartered in South Jordan, Utah.

Industry: Computer Hardware
Sector: Technology
State: DE
Filer Category: Accelerated filer
Fiscal Year End: December 31
Website: cricut.com

Price History

CRCT-72.7% · -22.9% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and dividend yield are the primary valuation lenses for mature businesses.

Market Cap

$1.18B

P/E (annual)

16.1

P/S (annual)

1.7

P/B

3.2

P/OCF (annual)

5.9

Shareholder Yield

16.4%

Employees

700

Industry

Computer Hardware

Exchange

Nasdaq

Signal Flags

4 green1 red

Revenue growth acceleratingGrowth rate increasing year over year

Operating leverage expandingOperating income growing faster than revenue

RPO outpacing revenueRemaining performance obligations growing faster than recognized revenue — forward demand building

Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 1-quarter streak

Revenue declining YoYRevenue contracted year over year

Quality Profile

Profitability

1/1 pass

GP / assets

0.67

Return on equity

20.8%

Gross margin trend

PASS

Safety

1/1 pass

Balance-sheet safety

PASS

Debt / equity

0.59

Current ratio

2.49×

Net cash

$286.26M

Cash Flow

1/1 pass

Positive FCF

N/A

Cash-backed earnings

N/A

Accruals healthy

PASS

SBC / revenue

4.9%

Growth

1/2 pass

Revenue growth

-0.5%

Piotroski F-Score

6 / 9

Share dilution

0.8%

Terry Smith quality gate

Passes 3/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

12.9xCheap

12.9xmed 18.8x61.1x

P / S

Price / revenue per share

1.4xCheap

1.3xmed 2.0x5.0x

P / B

Price / book value per share

2.9xFair

1.9xmed 3.1x19.9x

P / GP

Price / gross profit per share

2.5xCheap

2.5xmed 5.6x17.0x

Earnings bubble check

Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.

Gross margin55.1% now vs 35.0%–55.1% 10yr range

1.6σ above average

Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).

Profitability

Gross profitability (GP / assets)

0.67

Primary signal (Novy-Marx).

100th pctl of 36 SIC 35 peers

Return on equity

20.8%

Gross margin

55.1%

86th pctl of 36 SIC 35 peers

Revenue growth (YoY)

-0.5%

RPO growth (YoY)

10.4%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

	2022	2023	2024	2025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-7.2%

Revenue CAGR (5Y)

-5.9%

Earnings CAGR (3Y)

8.1%

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.59

83rd pctl of 36 SIC 35 peers (best = lowest)

Current ratio

2.49×

69th pctl of 36 SIC 35 peers

Quick ratio

1.78×

Net cash

$286.26M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

—

Operating cash flow minus capex.

Positive free cash flow

N/A

FCF / net income

—

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

N/A

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

4.9%

Stock-based comp intensity.

Dividend safety

Composite score

1.2 / 5

Weak

Payout ratio

263.5%0/5 Weak

FCF coverage

N/A0/5 Weak

Dividend growth streak

1 yr1/5 Weak

Balance-sheet health

D/E 0.59 · IC 169.37×4/5 Strong

Piotroski F-Score

F-Score

6 / 9

Fundamental-strength score (0-9).

Lifecycle Phase History

2020-2021

2022

2023-2025

20202025

Hypergrowth

Decline

Value

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