Crocs' turnaround gains momentum with growth in DTC, international markets, and strong brand collaborations.

Crocs is showing signs of a successful turnaround, driven by confidence in direct-to-consumer (DTC) and wholesale growth expected to resume in the second half of 2026. The company's international expansion, particularly in India, Japan, and China, is compensating for declines in North America. Collaborations with brands like Lego are enhancing Crocs' brand relevance. A discounted cash flow (DCF) model values Crocs at $130.9 per share, supported by strong share buybacks, reduced debt, and lower tariff risks, indicating potential long-term value for investors.