Credo Technology Group Holding
CRDO on Nasdaq. Credo Technology Group Holding sells copper and optical connectivity products to companies building AI data centers. Market value $39.9bn.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to April 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $1.06 of spare cash in the past 12 months. A savings account pays about $4.
You pay 81.3 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns -6 cents a year. Above 10 is good.
Quality score: 52 of 100. Price score: 13 of 100. Our list needs 70 on quality and 60 on price.
$220.83 a share, 155% above its 1-year low
Over the past year the price has ranged from $86.49 to $308.67.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $106m | $184m | $193m | $437m | $1.3bn |
| Operating margin | |||||
| Operating margin | -20.6% | -11.5% | -19.2% | 8.5% | 33.3% |
| Debt to equity | |||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Shares outstanding | |||||
| Shares outstanding | 0.15bn | 0.16bn | 0.17bn | 0.18bn | 0.19bn |
Health checks
- Free cash flow positive3 of 5 years
- Accounting looks honest (Beneish)Warning signs
- Financial strength (Piotroski)6 of 9
- Profit backed by cash (accruals)Yes
- Debt0.00× equity
- Revenue growth, five yearsStrong, 88.0% a year
- Buying back its own sharesNo, 27% more shares since 2022
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $479 million last quarter, up 115% on a year ago.
- Profit: $129 million, up 104% on a year ago.
- It keeps 32 cents of each $1 of sales as operating profit, up from 19 cents a year earlier.
- Spare cash over the past 12 months: $439 million, up from $93 million.
- 5% more shares than a year ago. Each share owns a bit less of the company.
- It has $467 million more cash than debt, up from $220 million a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $72m |
| January 2025 | $135m |
| April 2025 | $170m |
| July 2025 | $223m |
| October 2025 | $268m |
| January 2026 | $407m |
| April 2026 | $437m |
| July 2026 | $479m |
| Quarter to | Amount |
|---|---|
| October 2024 | -$4m |
| January 2025 | $29m |
| April 2025 | $37m |
| July 2025 | $63m |
| October 2025 | $83m |
| January 2026 | $157m |
| April 2026 | $169m |
| July 2026 | $129m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 15 June 2026
- Next quarterly (estimated, 10-Q)
- 2 December 2026
Who owns it
2 long-term investors we follow own it, down from 4 last quarter. 980 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| H&H International InvestmentDuan Yongping | $191m | 1.0% | Cut |
| Gotham Asset ManagementJoel Greenblatt | $595,027 | <0.1% | Cut |
Sold out this quarter
Largest holders overall
- BlackRock$4.8bnCut
- Banque Cantonale Vaudoise$2.4bnCut
- Vanguard Portfolio Management$2.2bnCut
- Vanguard Capital Management$2.0bnAdded
- Point72 Asset Management, L.P.$1.7bnCut
- State Street$1.1bnCut
- Geode Capital Management$877mCut
- Price T Rowe Associates$723mAdded
- Jennison Associates$722mAdded
- SRS Investment Management$700mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- BlackRock, Inc.Passive investor7.7%−1.3 ptsSince 30 June 2026
- Chi Fung ChengPassive investorat least 4.7%−0.4 pts(filed with 2 related holders)Since 31 March 2025
- JPMORGAN CHASE & CO.Passive investorSold down below 5%Since 28 February 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 7.7%−1.3 pts | 30 June 2026 | |
Chi Fung Cheng Passive investor | at least 4.7%−0.4 pts (filed with 2 related holders) | 31 March 2025 | |
JPMORGAN CHASE & CO. Passive investor | Sold down below 5% | 28 February 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 10 sold $457m, $431m of it under preset trading plans.
- Laufman JamesChief Legal Officer, SecretarySold
- Date
- 1 October 2026
- Shares
- 5,000
- Price
- $205.00
- Value
- $1m
- Lam Yat TungChief Operating Officer, DirectorSoldunder a preset trading plan
- Date
- 1 October 2026
- Shares
- 50,000
- Price
- $205.22
- Value
- $10m
- Cheng Chi FungChief Technology Officer, DirectorSoldunder a preset trading plan
- Date
- 29 September 2026
- Shares
- 27,500
- Price
- $193.93
- Value
- $5m
- Lam Yat TungChief Operating Officer, DirectorSoldunder a preset trading plan
- Date
- 25 September 2026
- Shares
- 100,000
- Price
- $206.29
- Value
- $21m
- Cheng Chi FungChief Technology Officer, DirectorSoldunder a preset trading plan
- Date
- 23 September 2026
- Shares
- 27,500
- Price
- $193.12
- Value
- $5m
- Laufman JamesChief Legal Officer, SecretarySold
- Date
- 21 September 2026
- Shares
- 5,000
- Price
- $185.00
- Value
- $925,000
- Cheng Chi FungChief Technology Officer, DirectorSoldunder a preset trading plan
- Date
- 17 September 2026
- Shares
- 27,500
- Price
- $166.38
- Value
- $5m
- Brennan William JosephPres & Chief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 14 September 2026
- Shares
- 16,672
- Price
- $151.88
- Value
- $3m
- Cheng Chi FungChief Technology Officer, DirectorSoldunder a preset trading plan
- Date
- 11 September 2026
- Shares
- 27,500
- Price
- $162.73
- Value
- $4m
- Cheng Chi FungChief Technology Officer, DirectorSold
- Date
- 4 September 2026
- Shares
- 3,790
- Price
- $170.00
- Value
- $644,300
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 1 October 2026 | Laufman James Chief Legal Officer, Secretary | Sold | 5,000 | $205.00 | $1m |
| 1 October 2026 | Lam Yat Tung Chief Operating Officer, Director | Sold under a preset trading plan | 50,000 | $205.22 | $10m |
| 29 September 2026 | Cheng Chi Fung Chief Technology Officer, Director | Sold under a preset trading plan | 27,500 | $193.93 | $5m |
| 25 September 2026 | Lam Yat Tung Chief Operating Officer, Director | Sold under a preset trading plan | 100,000 | $206.29 | $21m |
| 23 September 2026 | Cheng Chi Fung Chief Technology Officer, Director | Sold under a preset trading plan | 27,500 | $193.12 | $5m |
| 21 September 2026 | Laufman James Chief Legal Officer, Secretary | Sold | 5,000 | $185.00 | $925,000 |
| 17 September 2026 | Cheng Chi Fung Chief Technology Officer, Director | Sold under a preset trading plan | 27,500 | $166.38 | $5m |
| 14 September 2026 | Brennan William Joseph Pres & Chief Executive Officer, Director | Sold under a preset trading plan | 16,672 | $151.88 | $3m |
| 11 September 2026 | Cheng Chi Fung Chief Technology Officer, Director | Sold under a preset trading plan | 27,500 | $162.73 | $4m |
| 4 September 2026 | Cheng Chi Fung Chief Technology Officer, Director | Sold | 3,790 | $170.00 | $644,300 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 15 Jun 2026, plus the 10-Q filed 2 Sep 2026 and 1 later 8-K.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Its accounts show patterns that sometimes come before companies have to correct past results (Beneish score).
- It isn't cheap on profits: 81.3× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.