Credo Technology Group Holding Ltd
CRDO - Insider Information
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+ FollowMarket Cap$26.01B
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Earnings Call Q1 2027
September 1, 2026 - AI Summary
Record Q1 momentum (strong fundamentals): Revenue hit a record $479M, +10% sequentially and +115% YoY; Credo delivered non-GAAP gross margin of 68% and non-GAAP net income of $236.3M (+140% YoY). Non-GAAP operating margin was 48.2%; operating expenses were elevated due to heavy R&D (up 16% sequentially). Note: Cash from operations fell $92M sequentially mainly from working-capital changes.
Q2 fiscal 2027 guidance (clearly stated ranges): Management expects revenue $525M–$535M (midpoint just above guidance high end was achieved in Q1), non-GAAP gross margin 67%–69%, non-GAAP operating expenses $100M–$105M, and diluted weighted-average shares ~200M. Outlook is stated to be sensitive to a “tariff regime” that remains fluid.
Big picture forecast / inflection thesis (optics as primary driver): Credo expects a second-half inflection driven by >$600M optical revenue in fiscal 27, with zero-flap optics, silicon-photonics PICs, and optical DSPs each contributing >$100M and optics comprising the majority of the growth step-up. For full-year, management expects >85% YoY total revenue growth in fiscal 27, with FY27 non-GAAP gross margin broadly consistent with FY26 and non-GAAP operating expenses up ~55% YoY (but still below revenue growth rate), leading to non-GAAP net margin ~50%.
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$-10.39
107.4% downside
Current Fair Value
107.4% downsideOvervalued by 107.4% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $26.01 Billion |
|---|---|
| Enterprise Value | $25.56 Billion |
| Earnings per Share | $2.65 |
| Beta | 3.29 |
| Outstanding Shares | 186,007,000 |
Return
| Return on Equity | 19.73% |
|---|---|
| Return on Assets | 17.87% |
| Return on Invested Capital | 18.74% |
Valuation & Multiples
| P/E Ratio | 40.85 |
|---|---|
| PEG | 39.23 |
| Price to Sales | 17.48 |
| Price to Book Ratio | 9.99 |
| Enterprise Value to Revenue | 16.06 |
| Enterprise Value to EBIT | 48.46 |
| Enterprise Value to Net Income | 47 |
| Total Debt to Enterprise | 0 |
| Debt to Equity | 0.01 |
Revenue Sources
No data
Last Earnings Call
Report Date
September 2, 2026
EPS Estimate
$1.17
Consensus analyst estimateRevenue Estimate
$472.05 M
Consensus analyst estimateNext Earnings Call
Expected Date
December 2, 2026
EPS Estimate
$1.29
Consensus analyst estimateRevenue Estimate
$531.84 M
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 8.76, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 8.7554▲ 770.07% |
|---|---|
| Total Calls | 41,300▼ 99.41% |
| Total Puts | 361,600▼ 95.08% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 10.89%▼ 61.26% |
|---|---|
| Total Invested | $3.94B▼ 89.11% |
| Investors Holding | 480▼ 565.00% |