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Criteo

CRTO on Nasdaq. Criteo sells advertising technology to brands, agencies, retailers, and media owners. Market value $710m.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Media & telecom stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
24.5%very high

For every $100 of what the whole company costs, it produced $24.45 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 48 of 100. Price score: 83 of 100. Our list needs 70 on quality and 60 on price.

$14.80 a share, 4% above its 1-year low

Over the past year the price has ranged from $14.28 to $25.29.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
0.2
0.1
0.2
0.2
0.2
2021202220232024202512 monthsto Jun '26
Revenue
$2.3bn$2.0bn$1.9bn$1.9bn$1.9bn
Operating margin
6.7%1.2%4.0%7.8%10.4%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.06bn0.06bn0.06bn0.05bn0.05bn

Health checks

  • Free cash flow positive4 of 4 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)8 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • DebtUnknown
  • Revenue growth, five yearsShrinking, 1.3% a year
  • Buying back its own sharesYes, 19% fewer since 2021

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

Sales by quarter
Sales by quarter
Quarter toAmount
June 2024$471m
September 2024$459m
December 2024$553m
March 2025$451m
June 2025$483m
December 2025Not reported
March 2026$425m
June 2026$428m
Profit by quarter
Profit by quarter
Quarter toAmount
June 2024$27m
September 2024$6m
December 2024$71m
March 2025$38m
June 2025$21m
December 2025Not reported
March 2026$8m
June 2026$11m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

None of the long-term investors we follow own it. 122 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

8 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $348,623 of shares on the open market. 4 sold $2m.

  • McGogney Connor
    Chief Financial Officer
    Sold
    Date
    1 September 2026
    Shares
    276
    Price
    $17.50
    Value
    $4,830
  • Damon Ryan
    Chief Legal Officer
    Sold
    Date
    1 September 2026
    Shares
    1,079
    Price
    $17.50
    Value
    $18,883
  • McGogney Connor
    Chief Financial Officer
    Sold
    Date
    28 August 2026
    Shares
    258
    Price
    $17.28
    Value
    $4,458
  • Komasinski Michael
    CEO, Director
    Sold
    Date
    28 August 2026
    Shares
    1,656
    Price
    $17.28
    Value
    $28,616
  • Damon Ryan
    Chief Legal Officer
    Sold
    Date
    28 August 2026
    Shares
    789
    Price
    $17.28
    Value
    $13,634
  • McGogney Connor
    Chief Financial Officer
    Sold
    Date
    24 August 2026
    Shares
    671
    Price
    $17.37
    Value
    $11,655
  • Damon Ryan
    Chief Legal Officer
    Sold
    Date
    24 August 2026
    Shares
    2,132
    Price
    $17.37
    Value
    $37,033
  • Komasinski Michael
    CEO, Director
    Sold
    Date
    6 August 2026
    Shares
    15,559
    Price
    $17.23
    Value
    $268,082
  • Damon Ryan
    Chief Legal Officer
    Sold
    Date
    6 August 2026
    Shares
    6,178
    Price
    $17.23
    Value
    $106,447
  • Glickman Sarah JS
    Chief Financial Officer
    Sold
    Date
    6 August 2026
    Shares
    6,285
    Price
    $17.23
    Value
    $108,291

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 26 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 7 later 8-Ks.

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

  • Sales have shrunk: 1.3% a year.

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
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What a finished deep dive looks like

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.