Criteo S.A. (CRTO) intrinsic value & 10-year financials
Criteo S.A. (CRTO) has a Graham intrinsic value of $55.80 per share. At $15.34 on Oct 17, 2026, the stock trades 73% below that value. Over the last 10 fiscal years revenue grew 0.9% a year to $1.9B, with an average return on invested capital of 14.4%.
- Graham intrinsic value
- $55.80
- Share price (Oct 17, 2026)
- $15.34
- Price vs Graham value
- 73% below
- Market cap
- $840.5M
- Revenue (FY2025)
- $1.9B
- Revenue growth (10-yr CAGR)
- 0.9%
- ROIC (10-yr avg)
- 14.4%
- Free cash flow (FY2025)
- $208.5M
CRTO 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.9B | $144.6M | $2.64 | $208.5M | 10.4% | 16.5% |
| FY2024 | $1.9B | $111.6M | $1.90 | $180.0M | 7.8% | 13.0% |
| FY2023 | $1.9B | $53.3M | $0.88 | $108.1M | 4.0% | 6.8% |
| FY2022 | $2.0B | $9.0M | $0.14 | $192.2M | 1.2% | 1.6% |
| FY2021 | $2.3B | $134.5M | $2.09 | — | 6.7% | 18.2% |
| FY2020 | $2.1B | $71.7M | $1.16 | — | 5.3% | 10.3% |
| FY2019 | $2.3B | $90.7M | $1.38 | — | 6.2% | 14.9% |
| FY2018 | $2.3B | $88.6M | $1.31 | — | 6.4% | 18.2% |
| FY2017 | $2.3B | $91.2M | $1.34 | — | 6.0% | 23.2% |
| FY2016 | $1.8B | $82.3M | $1.25 | — | 6.7% | 20.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Criteo S.A. has demonstrated mature, steady growth, with revenue compounding at 0.9% annually over the past decade.
Criteo S.A. returns on capital have been average, hovering around 14.4% ROIC over the decade.
Over the decade, Criteo S.A. shows that management has aggressively returned capital to shareholders by retiring 16.5% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Criteo S.A. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $55.80 per share.