What is Krispy Kreme's operating income?

Krispy Kreme's total operating income in 2025 was -$469.27 million, based on the following breakdown: Total Gross Profit: $1.52 billion Total Operating Expenses: $1.99 billion

Krispy Kreme (DNUT) Financials

$3.85 -0.14 (-3.51%)

Closing price 04:00 PM Eastern

Extended Trading

$3.88 +0.03 (+0.91%)

As of 07:59 PM Eastern

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Annual Income Statements for Krispy Kreme

This table shows Krispy Kreme's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/29/2019	1/3/2021	1/2/2022	1/1/2023	12/31/2023	12/29/2024	12/28/2025
Net Income / (Loss) Attributable to Common Shareholders	-37	-64	-25	-16	-38	3.10	-516
Consolidated Net Income / (Loss)	-34	-61	-15	-8.78	-37	3.82	-524
Net Income / (Loss) Continuing Operations	-34	-61	-15	-8.78	-37	3.82	-524
Total Pre-Tax Income	-21	-52	-4.10	-8.16	-41	20	-545
Total Operating Income	38	4.28	41	29	13	-8.74	-469
Total Gross Profit	697	811	1,384	1,530	1,686	1,665	1,523
Total Revenue	959	1,122	1,384	1,530	1,686	1,665	1,523
Total Cost of Revenue	262	311	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	659	807	1,343	1,501	1,673	1,674	1,992
Selling, General & Admin Expense	552	670	853	927	1,043	1,084	1,025
Marketing Expense	29	34	394	449	489	457	418
Depreciation Expense	64	80	102	110	126	134	137
Other Operating Expenses / (Income)	7.47	10	-10	10	-15	-8.43	-24
Impairment Charge	-	-	-	-	25	4.46	432
Other Special Charges / (Income)	7.08	12	5.57	4.23	4.12	3.41	3.58
Total Other Income / (Expense), net	-59	-56	-45	-37	-54	29	-75
Interest Expense	60	57	43	34	50	60	66
Other Income / (Expense), net	0.61	1.10	-2.19	-3.04	-3.80	89	-9.53
Income Tax Expense	13	9.11	11	0.61	-4.35	16	-21
Net Income / (Loss) Attributable to Noncontrolling Interest	3.41	3.36	9.66	6.85	1.28	0.72	-8.01
Basic Earnings per Share	($0.30)	($0.52)	($0.18)	($0.10)	($0.23)	$0.02	($3.04)
Weighted Average Basic Shares Outstanding	124.99M	124.99M	147.66M	167.47M	168.29M	169.34M	170.92M
Diluted Earnings per Share	($0.30)	($0.52)	($0.18)	($0.10)	($0.23)	$0.02	($3.04)
Weighted Average Diluted Shares Outstanding	124.99M	124.99M	147.66M	167.47M	168.29M	171.50M	170.92M
Weighted Average Basic & Diluted Shares Outstanding	-	-	167.25M	168.10M	168.70M	170.30M	172.20M
Cash Dividends to Common per Share	-	-	$0.04	$0.04	$0.04	$0.04	$0.04

This table shows Krispy Kreme's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026
Net Income / (Loss) Attributable to Common Shareholders	-40	2.61	-8.53	-5.49	40	-22	-33	-435	-19	-28	-23
Consolidated Net Income / (Loss)	-40	1.88	-6.66	-4.93	38	-22	-33	-441	-20	-29	-23
Net Income / (Loss) Continuing Operations	-40	1.88	-6.66	-4.93	38	-22	-33	-441	-20	-29	-23
Total Pre-Tax Income	-16	-20	-2.40	-8.54	55	-25	-36	-462	-23	-24	-19
Total Operating Income	-2.11	-5.34	12	6.86	-16	-11	-20	-435	-7.18	-7.27	-3.63
Total Gross Profit	407	451	443	439	380	404	375	380	375	392	367
Total Revenue	407	451	443	439	380	404	375	380	375	392	367
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	409	456	431	432	396	416	395	814	382	400	371
Selling, General & Admin Expense	264	275	277	277	263	267	258	274	245	248	246
Marketing Expense	114	127	119	120	107	111	101	105	108	104	98
Depreciation Expense	32	37	34	35	31	34	34	36	33	34	32
Other Operating Expenses / (Income)	-1.10	16	0.20	-1.05	-5.78	2.46	1.24	-8.31	-9.78	-7.43	0.76
Impairment Charge	-	-	-	0.20	0.00	-	0.16	407	4.81	-	1.89
Other Special Charges / (Income)	1.06	1.19	1.11	0.97	0.62	0.72	0.93	1.47	0.67	0.51	-8.69
Total Other Income / (Expense), net	-14	-14	-14	-15	71	-13	-16	-27	-16	-17	-15
Interest Expense	13	13	14	14	16	16	16	17	16	17	16
Other Income / (Expense), net	-0.97	-0.77	-0.57	-0.95	88	2.56	0.39	-10	0.59	-0.19	0.16
Income Tax Expense	24	-21	4.26	-3.61	18	-2.38	-2.67	-20	-2.82	5.12	3.58
Net Income / (Loss) Attributable to Noncontrolling Interest	0.20	-0.73	1.87	0.56	-1.99	0.28	-0.12	-5.86	-0.69	-1.35	0.11
Basic Earnings per Share	($0.24)	$0.01	($0.05)	($0.03)	$0.23	($0.13)	($0.22)	($2.55)	($0.11)	($0.18)	($0.16)
Weighted Average Basic Shares Outstanding	168.22M	168.29M	168.69M	169.10M	169.60M	169.34M	170.29M	170.80M	171.16M	170.92M	172.02M
Diluted Earnings per Share	($0.24)	$0.01	($0.05)	($0.03)	$0.23	($0.13)	($0.22)	($2.55)	($0.11)	($0.18)	($0.16)
Weighted Average Diluted Shares Outstanding	168.22M	168.29M	168.69M	169.10M	171.49M	171.50M	170.29M	170.80M	171.16M	170.92M	172.02M
Weighted Average Basic & Diluted Shares Outstanding	168.60M	168.70M	168.70M	169.60M	170M	170.30M	170.80M	171.20M	171.30M	172.20M	172.40M

This table details how cash moves in and out of Krispy Kreme's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/29/2019	1/3/2021	1/2/2022	1/1/2023	12/31/2023	12/29/2024	12/28/2025
Net Change in Cash & Equivalents	-18	2.03	1.71	-3.46	2.88	-9.30	14
Net Cash From Operating Activities	81	29	141	140	46	46	34
Net Cash From Continuing Operating Activities	81	29	141	140	46	46	34
Net Income / (Loss) Continuing Operations	-34	-61	-15	-8.78	-37	3.82	-524
Consolidated Net Income / (Loss)	-34	-61	-15	-8.78	-37	3.82	-524
Depreciation Expense	64	80	102	110	126	134	137
Amortization Expense	-	-	0.00	0.00	-10	-5.91	0.00
Non-Cash Adjustments To Reconcile Net Income	45	20	25	42	62	-54	460
Changes in Operating Assets and Liabilities, net	5.91	-11	30	-4.13	-95	-32	-40
Net Cash From Investing Activities	-227	-168	-153	-121	-113	19	-12
Net Cash From Continuing Investing Activities	-227	-168	-153	-121	-113	19	-12
Purchase of Property, Plant & Equipment	-76	-98	-119	-112	-121	-121	-98
Acquisitions	-150	-75	-46	-18	-1.42	-35	-3.00
Sale of Property, Plant & Equipment	0.00	2.84	0.22	1.08	0.22	0.18	3.08
Divestitures	-	-	-	0.00	0.00	124	75
Other Investing Activities, net	0.65	0.68	11	7.49	10	51	11
Net Cash From Financing Activities	129	139	16	-17	72	-74	-7.76
Net Cash From Continuing Financing Activities	129	139	16	-17	72	-74	-7.76
Repayment of Debt	-720	-226	-1,149	-101	-1,090	-713	-729
Repurchase of Common Equity	0.00	0.00	-139	-16	-1.88	-5.49	-1.35
Payment of Dividends	-22	-11	-72	-35	-39	-65	-12
Issuance of Debt	804	288	695	149	1,176	676	779
Issuance of Common Equity	16	21	581	0.59	0.29	1.56	0.00
Other Financing Activities, net	51	67	100	-14	26	32	-44
Effect of Exchange Rate Changes	-0.94	2.05	-2.20	-4.97	-1.93	-0.46	-0.45

This table details how cash moves in and out of Krispy Kreme's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026
Net Change in Cash & Equivalents	-0.83	12	-5.00	-4.50	-3.22	3.43	-10	2.66	9.33	12	32
Net Cash From Operating Activities	-2.22	1.51	-18	33	3.26	27	-21	-33	42	45	20
Net Cash From Continuing Operating Activities	-2.22	1.51	-18	33	3.26	27	-21	-33	42	45	20
Net Income / (Loss) Continuing Operations	-40	1.88	-6.66	-4.93	38	-22	-33	-441	-20	-29	-23
Consolidated Net Income / (Loss)	-40	1.88	-6.66	-4.93	38	-22	-33	-441	-20	-29	-23
Depreciation Expense	32	37	34	35	31	34	34	36	33	34	32
Non-Cash Adjustments To Reconcile Net Income	7.32	26	8.50	8.81	-82	11	5.23	419	8.69	27	-0.95
Changes in Operating Assets and Liabilities, net	1.67	-60	-50	-2.29	16	4.26	-27	-46	20	13	12
Net Cash From Investing Activities	-34	-34	-29	-36	110	-25	-26	57	-28	-16	100
Net Cash From Continuing Investing Activities	-34	-34	-29	-36	110	-25	-26	57	-28	-16	100
Purchase of Property, Plant & Equipment	-34	-33	-29	-32	-26	-34	-26	-28	-27	-17	-8.78
Sale of Property, Plant & Equipment	-	-	-	-	-	-	0.00	-	-	-	0.02
Divestitures	-	-	-	-	-	6.48	0.00	-	-	-	111
Other Investing Activities, net	0.06	-0.20	0.02	-0.94	45	7.11	0.09	12	0.08	-1.56	-2.60
Net Cash From Financing Activities	35	44	44	-3.33	-118	3.40	37	-21	-3.85	-20	-88
Net Cash From Continuing Financing Activities	35	44	44	-3.33	-118	3.40	37	-21	-3.85	-20	-88
Repayment of Debt	-49	-119	-132	-174	-239	-167	-116	-371	-121	-122	-160
Repurchase of Common Equity	-1.46	-0.27	-0.80	-3.47	-0.09	-1.12	-0.12	-0.66	-0.40	-0.17	-0.40
Payment of Dividends	-7.52	-8.56	-6.88	-7.07	-39	-12	-6.00	-5.97	-	-	0.35
Issuance of Debt	56	131	180	186	125	186	183	334	144	118	73
Other Financing Activities, net	38	41	4.10	-3.83	35	-3.34	-24	23	-27	-15	-1.12
Effect of Exchange Rate Changes	0.22	0.86	-1.83	1.71	1.20	-1.55	-0.30	-1.00	-1.59	2.44	-0.30

This table presents Krispy Kreme's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	1/3/2021	1/2/2022	1/1/2023	12/31/2023	12/29/2024	12/28/2025
Total Assets	3,061	3,145	3,149	3,241	3,072	2,593
Total Current Assets	164	157	178	174	173	174
Cash & Equivalents	37	39	35	38	29	42
Restricted Cash	0.02	0.63	0.36	0.43	0.35	0.50
Accounts Receivable	46	47	51	59	68	62
Inventories, net	39	35	46	35	28	27
Prepaid Expenses	13	21	27	25	32	19
Current Deferred & Refundable Income Taxes	28	15	18	16	16	11
Other Current Nonoperating Assets	-	-	-	-	0.00	13
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	2,897	2,988	2,970	3,067	2,899	2,419
Long-Term Investments	-	-	-	2.81	91	7.41
Goodwill	1,087	1,105	1,088	1,102	1,048	712
Intangible Assets	998	993	966	946	820	798
Other Noncurrent Operating Assets	812	891	916	1,016	941	870
Other Noncurrent Nonoperating Assets	-	-	-	-	0.00	31
Total Liabilities & Shareholders' Equity	3,061	3,145	3,149	3,241	3,072	2,593
Total Liabilities	2,213	1,810	1,850	1,977	1,908	1,916
Total Current Liabilities	498	526	516	526	486	457
Short-Term Debt	41	37	40	55	56	66
Accounts Payable	149	182	225	156	123	134
Accrued Expenses	125	141	104	134	124	100
Other Current Liabilities	183	167	147	180	182	144
Other Current Nonoperating Liabilities	-	-	-	-	0.00	14
Total Noncurrent Liabilities	1,715	1,283	1,333	1,451	1,421	1,459
Long-Term Debt	1,130	680	739	837	845	912
Noncurrent Deferred Revenue	63	43	38	36	41	43
Noncurrent Deferred & Payable Income Tax Liabilities	145	145	143	124	131	96
Other Noncurrent Operating Liabilities	376	415	413	455	405	396
Other Noncurrent Nonoperating Liabilities	-	-	-	-	0.00	12
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	27	24
Total Equity & Noncontrolling Interests	848	1,336	1,299	1,264	1,137	653
Total Preferred & Common Equity	685	1,232	1,196	1,170	1,135	650
Total Common Equity	685	1,232	1,196	1,170	1,135	650
Common Stock	847	1,417	1,428	1,445	1,468	1,475
Retained Earnings	-142	-178	-217	-279	-300	-821
Accumulated Other Comprehensive Income / (Loss)	-1.21	-2.48	-9.15	7.25	-32	-2.06
Other Equity Adjustments	-19	-4.38	-4.81	-3.85	-1.91	-1.79
Noncontrolling Interest	164	104	103	94	2.60	2.66

This table presents Krispy Kreme's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	10/2/2022	4/2/2023	7/2/2023	10/1/2023	3/31/2024	6/30/2024	9/29/2024	3/30/2025	6/29/2025	9/28/2025	3/29/2026
Total Assets	3,102	3,145	3,174	3,187	3,234	3,223	3,065	3,089	2,630	2,600	2,387
Total Current Assets	175	156	159	160	174	168	164	158	155	162	187
Cash & Equivalents	28	30	27	26	33	29	25	19	21	31	74
Restricted Cash	0.40	0.41	0.34	0.43	0.48	0.48	0.47	0.45	0.56	0.45	0.49
Accounts Receivable	47	52	49	50	57	57	62	69	57	54	53
Inventories, net	49	36	34	35	39	39	31	32	34	28	27
Prepaid Expenses	33	21	32	31	25	24	26	21	24	29	19
Current Deferred & Refundable Income Taxes	17	16	17	18	18	18	19	17	18	20	11
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	1.89
Plant, Property, & Equipment, net	0.00	476	0.00	0.00	543	0.00	0.00	539	0.00	0.00	383
Total Noncurrent Assets	2,927	2,514	3,015	3,027	2,517	3,055	2,901	2,392	2,476	2,438	1,816
Long-Term Investments	-	-	-	-	-	-	91	91	6.08	6.72	22
Goodwill	1,074	1,094	1,099	1,092	1,099	1,096	1,060	1,053	712	708	669
Intangible Assets	966	964	960	949	939	928	832	814	812	804	733
Other Noncurrent Operating Assets	887	456	955	986	480	1,031	918	435	946	919	392
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	0.00
Total Liabilities & Shareholders' Equity	3,102	3,145	3,174	3,187	3,234	3,223	3,065	3,089	2,630	2,600	2,387
Total Liabilities	1,828	1,838	1,868	1,938	1,986	1,994	1,856	1,958	1,912	1,906	1,753
Total Current Liabilities	509	446	447	525	490	494	475	449	458	449	446
Short-Term Debt	40	40	41	43	60	60	48	55	68	73	59
Accounts Payable	188	205	216	179	129	135	123	117	97	117	131
Accrued Expenses	112	83	96	165	117	114	120	115	111	104	121
Other Current Liabilities	169	118	93	138	184	184	185	163	182	155	136
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	-	0.00
Total Noncurrent Liabilities	1,319	1,392	1,421	1,413	1,496	1,501	1,381	1,508	1,455	1,457	1,307
Long-Term Debt	739	777	814	827	882	895	805	935	889	906	830
Noncurrent Deferred Revenue	40	40	33	34	37	37	50	44	46	47	39
Noncurrent Deferred & Payable Income Tax Liabilities	140	142	134	110	123	116	119	119	100	93	97
Other Noncurrent Operating Liabilities	401	432	439	442	454	453	407	410	419	411	341
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	-	0.00
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	1,274	1,307	1,306	1,249	1,248	1,229	1,209	1,131	718	694	633
Total Preferred & Common Equity	1,173	1,204	1,208	1,152	1,153	1,135	1,180	1,102	694	670	632
Total Common Equity	1,173	1,204	1,208	1,152	1,153	1,135	1,180	1,102	694	670	632
Common Stock	1,425	1,433	1,434	1,439	1,451	1,456	1,462	1,471	1,475	1,475	1,473
Retained Earnings	-209	-224	-229	-276	-293	-305	-271	-339	-774	-794	-844
Accumulated Other Comprehensive Income / (Loss)	-37	-0.92	7.78	-7.52	-1.21	-13	-9.28	-28	-5.02	-9.27	4.18
Other Equity Adjustments	-4.81	-4.83	-3.81	-3.82	-3.63	-2.87	-1.92	-1.78	-1.79	-1.79	-1.31
Noncontrolling Interest	100	103	98	97	95	94	29	30	25	24	1.48

This table displays calculated financial ratios and metrics derived from Krispy Kreme's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/29/2019	1/3/2021	1/2/2022	1/1/2023	12/31/2023	12/29/2024	12/28/2025
DEI Shares Outstanding	0.00	0.00	167,250,735.00	-	-	-	171,300,000.00
DEI Adjusted Shares Outstanding	0.00	0.00	167,250,735.00	-	-	-	171,300,000.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	-0.15	-	-	-	-3.01
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	16.95%	23.38%	10.51%	10.21%	-1.23%	-8.57%
EBITDA Growth	0.00%	-16.21%	63.82%	-3.07%	-8.26%	66.08%	-264.67%
EBIT Growth	0.00%	-86.06%	623.12%	-33.34%	-63.97%	754.12%	-699.74%
NOPAT Growth	0.00%	-88.74%	860.33%	-29.50%	-54.63%	-118.32%	-19,387.14%
Net Income Growth	0.00%	-79.23%	75.64%	40.88%	-317.63%	110.41%	-13,829.46%
EPS Growth	0.00%	-73.33%	65.38%	44.44%	-130.00%	108.70%	-15,300.00%
Operating Cash Flow Growth	0.00%	-64.52%	392.50%	-1.00%	-67.43%	0.63%	-25.98%
Free Cash Flow Firm Growth	0.00%	0.00%	99.84%	-175.71%	-623.36%	368.55%	-81.45%
Invested Capital Growth	0.00%	0.00%	1.61%	1.43%	3.50%	-7.98%	-18.48%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	2.27%	2.82%	-2.74%	-0.76%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-7.33%	-2.37%	-1.24%	0.40%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-27.63%	-52.56%	-3.43%	0.31%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	166.68%	-44.50%	41.84%	0.89%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-150.21%	7.26%	-86.31%	-1.35%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-66.67%	11.54%	-87.50%	-1.67%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	46.03%	23.55%	-59.74%	125.78%	112.69%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-16.79%	14.01%	237.98%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.90%	0.95%	0.03%	-3.05%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	72.69%	72.29%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	10.67%	7.64%	10.15%	8.90%	7.41%	12.46%	-22.44%
Operating Margin	3.96%	0.38%	2.97%	1.89%	0.78%	-0.52%	-30.82%
EBIT Margin	4.02%	0.48%	2.81%	1.70%	0.55%	4.79%	-31.45%
Profit (Net Income) Margin	-3.54%	-5.43%	-1.07%	-0.57%	-2.17%	0.23%	-34.40%
Tax Burden Percent	158.71%	117.58%	362.20%	107.50%	89.40%	19.30%	96.18%
Interest Burden Percent	-55.49%	-963.17%	-10.53%	-31.47%	-438.58%	24.76%	113.74%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	80.70%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.30%	1.44%	1.00%	0.44%	-0.08%	-18.61%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-10.98%	-3.38%	-3.09%	-5.31%	0.59%	-41.73%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-14.67%	-2.80%	-1.67%	-3.30%	0.40%	-38.28%
Return on Equity (ROE)	0.00%	-14.37%	-1.36%	-0.67%	-2.86%	0.31%	-56.89%
Cash Return on Invested Capital (CROIC)	0.00%	-199.70%	-0.16%	-0.42%	-2.99%	8.23%	1.75%
Operating Return on Assets (OROA)	0.00%	0.18%	1.25%	0.82%	0.29%	2.53%	-16.90%
Return on Assets (ROA)	0.00%	-1.99%	-0.48%	-0.28%	-1.15%	0.12%	-18.49%
Return on Common Equity (ROCE)	0.00%	-11.59%	-1.19%	-0.61%	-2.64%	0.30%	-55.14%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-8.90%	-1.21%	-0.73%	-3.13%	0.34%	0.00%
Net Operating Profit after Tax (NOPAT)	27	3.00	29	20	9.20	-1.69	-328
NOPAT Margin	2.77%	0.27%	2.08%	1.33%	0.55%	-0.10%	-21.57%
Net Nonoperating Expense Percent (NNEP)	0.00%	11.29%	4.82%	4.09%	5.76%	-0.67%	23.12%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	0.98%	0.43%	-0.08%	-20.15%
Cost of Revenue to Revenue	27.31%	27.71%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	57.57%	59.75%	61.59%	60.62%	61.89%	65.10%	67.34%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	68.73%	71.91%	97.03%	98.11%	99.22%	100.52%	130.82%
Earnings before Interest and Taxes (EBIT)	39	5.38	39	26	9.35	80	-479
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	102	86	141	136	125	208	-342
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.66	2.50	1.41	2.14	1.46	1.13
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.47	0.40	2.22	1.10	1.49	0.99	0.48
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	535.00	0.00
Dividend Yield	0.00%	0.00%	0.19%	1.39%	0.94%	1.44%	3.27%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.19%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.88	1.92	1.24	1.63	1.27	1.06
Enterprise Value to Revenue (EV/Rev)	0.00	1.56	2.79	1.65	2.05	1.48	1.11
Enterprise Value to EBITDA (EV/EBITDA)	0.00	20.40	27.46	18.58	27.60	11.88	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	325.24	99.16	97.54	369.01	30.89	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	584.15	134.10	124.75	374.85	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	61.03	27.32	18.10	75.73	53.81	49.74
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	14.77	54.48
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	1.38	0.54	0.60	0.71	0.77	1.44
Long-Term Debt to Equity	0.00	1.33	0.51	0.57	0.66	0.73	1.35
Financial Leverage	0.00	1.34	0.83	0.54	0.62	0.67	0.92
Leverage Ratio	0.00	3.61	2.84	2.39	2.49	2.60	3.08
Compound Leverage Factor	0.00	-34.75	-0.30	-0.75	-10.93	0.64	3.50
Debt to Total Capital	0.00%	58.00%	34.93%	37.49%	41.36%	43.62%	59.09%
Short-Term Debt to Total Capital	0.00%	2.04%	1.78%	1.93%	2.54%	2.73%	3.99%
Long-Term Debt to Total Capital	0.00%	55.96%	33.14%	35.57%	38.82%	40.89%	55.10%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	8.10%	5.07%	4.93%	4.37%	1.45%	1.62%
Common Equity to Total Capital	0.00%	33.90%	60.00%	57.57%	54.28%	54.93%	39.29%
Debt to EBITDA	0.00	13.66	5.10	5.72	7.13	4.34	-2.86
Net Debt to EBITDA	0.00	13.21	4.82	5.46	6.80	3.76	-2.71
Long-Term Debt to EBITDA	0.00	13.18	4.84	5.43	6.70	4.07	-2.67
Debt to NOPAT	0.00	391.07	24.92	38.41	96.86	-534.45	-2.98
Net Debt to NOPAT	0.00	378.21	23.55	36.65	92.36	-463.03	-2.82
Long-Term Debt to NOPAT	0.00	377.30	23.65	36.44	90.92	-501.02	-2.78
Altman Z-Score	0.00	0.30	1.28	0.83	1.04	0.89	-0.37
Noncontrolling Interest Sharing Ratio	0.00%	19.29%	12.26%	7.84%	7.67%	5.11%	3.08%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	0.33	0.30	0.35	0.33	0.36	0.38
Quick Ratio	0.00	0.17	0.16	0.17	0.19	0.20	0.23
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-1,978	-3.12	-8.60	-62	167	31
Operating Cash Flow to CapEx	105.81%	30.19%	118.40%	126.37%	37.57%	38.00%	35.77%
Free Cash Flow to Firm to Interest Expense	0.00	-34.58	-0.07	-0.25	-1.24	2.78	0.47
Operating Cash Flow to Interest Expense	1.35	0.50	3.28	4.10	0.90	0.76	0.52
Operating Cash Flow Less CapEx to Interest Expense	0.07	-1.16	0.51	0.86	-1.50	-1.24	-0.93
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.37	0.45	0.49	0.53	0.53	0.54
Accounts Receivable Turnover	0.00	24.39	29.62	31.04	30.53	26.21	23.55
Inventory Turnover	0.00	8.07	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	2.09	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	14.96	12.32	11.76	11.96	13.93	15.50
Days Inventory Outstanding (DIO)	0.00	45.22	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	174.51	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	-114.32	12.32	11.76	11.96	13.93	15.50
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	1,981	2,013	2,042	2,114	1,945	1,585
Invested Capital Turnover	0.00	1.13	0.69	0.75	0.81	0.82	0.86
Increase / (Decrease) in Invested Capital	0.00	1,981	32	29	71	-169	-359
Enterprise Value (EV)	0.00	1,750	3,858	2,530	3,449	2,466	1,688
Market Capitalization	453	453	3,076	1,684	2,505	1,656	733
Book Value per Share	$0.00	$5.48	$7.36	$7.15	$6.94	$6.67	$3.80
Tangible Book Value per Share	$0.00	($11.20)	($5.18)	($5.12)	($5.21)	($4.31)	($5.02)
Total Capital	0.00	2,020	2,053	2,078	2,155	2,065	1,655
Total Debt	0.00	1,172	717	779	891	901	978
Total Long-Term Debt	0.00	1,130	680	739	837	845	912
Net Debt	0.00	1,133	678	743	850	781	928
Capital Expenditures (CapEx)	76	95	119	111	121	121	95
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-331	-372	-334	-336	-286	-260
Debt-free Net Working Capital (DFNWC)	0.00	-292	-333	-298	-297	-257	-217
Net Working Capital (NWC)	0.00	-334	-369	-338	-352	-313	-283
Net Nonoperating Expense (NNE)	61	64	44	29	46	-5.50	195
Net Nonoperating Obligations (NNO)	0.00	1,133	678	743	850	781	909
Total Depreciation and Amortization (D&A)	64	80	102	110	116	128	137
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-29.50%	-26.86%	-21.82%	-19.93%	-17.18%	-17.06%
Debt-free Net Working Capital to Revenue	0.00%	-26.07%	-24.03%	-19.49%	-17.64%	-15.42%	-14.24%
Net Working Capital to Revenue	0.00%	-29.74%	-26.67%	-22.11%	-20.88%	-18.81%	-18.58%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.18)	($0.10)	($0.23)	$0.02	($3.04)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	147.65M	167.47M	168.29M	169.34M	170.92M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.18)	($0.10)	($0.23)	$0.02	($3.04)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	147.65M	167.47M	168.29M	171.50M	170.92M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	167.25M	168.10M	168.70M	170.30M	172.20M
Normalized Net Operating Profit after Tax (NOPAT)	32	11	33	23	12	-3.73	-23
Normalized NOPAT Margin	3.29%	0.99%	2.36%	1.52%	0.72%	-0.22%	-1.53%
Pre Tax Income Margin	-2.23%	-4.62%	-0.30%	-0.53%	-2.43%	1.19%	-35.77%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.64	0.09	0.90	0.76	0.19	1.33	-7.28
NOPAT to Interest Expense	0.44	0.05	0.67	0.59	0.18	-0.03	-4.99
EBIT Less CapEx to Interest Expense	-0.63	-1.57	-1.87	-2.48	-2.22	-0.68	-8.72
NOPAT Less CapEx to Interest Expense	-0.83	-1.61	-2.10	-2.65	-2.23	-2.04	-6.43
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-63.32%	-18.76%	-482.00%	-400.58%	-106.68%	1,711.01%	-2.29%
Augmented Payout Ratio	-63.32%	-18.76%	-1,419.16%	-588.35%	-111.81%	1,854.89%	-2.54%

This table displays calculated financial ratios and metrics derived from Krispy Kreme's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	10/1/2023	12/31/2023	3/31/2024	6/30/2024	9/29/2024	12/29/2024	3/30/2025	6/29/2025	9/28/2025	12/28/2025	3/29/2026
DEI Shares Outstanding	-	-	-	-	-	-	170,300,000.00	170,800,000.00	171,200,000.00	171,300,000.00	172,200,000.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	170,300,000.00	170,800,000.00	171,200,000.00	171,300,000.00	172,200,000.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.20	-2.55	-0.11	-0.16	-0.13
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.91%	11.44%	5.67%	7.32%	-6.75%	-10.40%	-15.25%	-13.46%	-1.20%	-2.89%	-2.17%
EBITDA Growth	2.03%	-9.88%	0.19%	27.73%	296.28%	-9.39%	-66.58%	-1,189.32%	-73.90%	5.53%	104.27%
EBIT Growth	-15.29%	-243.48%	-18.74%	28.93%	2,419.42%	-46.53%	-275.35%	-7,627.50%	-109.21%	16.52%	82.56%
NOPAT Growth	-105.74%	-202.48%	-33.48%	21.51%	-635.79%	-115.52%	-270.21%	-6,435.49%	53.82%	36.77%	82.12%
Net Income Growth	-240.02%	291.17%	-505.29%	-5,970.24%	193.33%	-1,277.00%	-401.35%	-8,845.81%	-153.58%	-31.41%	32.13%
EPS Growth	-200.00%	150.00%	0.00%	0.00%	195.83%	-1,400.00%	-340.00%	-8,400.00%	-147.83%	-38.46%	27.27%
Operating Cash Flow Growth	-113.21%	-97.81%	-270.82%	-7.41%	246.87%	1,688.69%	-17.67%	-197.93%	1,196.20%	66.46%	196.79%
Free Cash Flow Firm Growth	-142.61%	-197.67%	-30.35%	87.16%	294.21%	313.83%	343.78%	1,399.52%	119.53%	120.64%	346.60%
Invested Capital Growth	3.45%	3.50%	2.97%	0.96%	-7.13%	-7.98%	-6.74%	-23.56%	-15.89%	-18.48%	-29.24%
Revenue Q/Q Growth	-0.37%	10.69%	-1.82%	-0.88%	-13.43%	6.36%	-7.14%	1.22%	-1.18%	4.55%	-6.46%
EBITDA Q/Q Growth	-11.68%	6.65%	51.53%	-10.51%	174.02%	-75.61%	-44.11%	-3,016.88%	106.57%	-1.40%	8.19%
EBIT Q/Q Growth	-167.28%	-97.86%	285.76%	-47.86%	1,110.34%	-112.50%	-122.30%	-2,138.25%	98.52%	-13.28%	53.56%
NOPAT Q/Q Growth	-137.43%	-152.48%	323.21%	-42.40%	-326.67%	26.05%	-76.28%	-2,043.92%	98.35%	-1.25%	50.14%
Net Income Q/Q Growth	-48,026.19%	104.68%	-453.85%	25.99%	861.96%	-158.99%	-50.72%	-1,220.51%	95.44%	-44.68%	22.15%
EPS Q/Q Growth	0.00%	104.17%	-600.00%	40.00%	866.67%	-156.52%	-69.23%	-1,175.00%	95.69%	-63.64%	11.11%
Operating Cash Flow Q/Q Growth	-106.19%	168.08%	-1,270.97%	287.69%	-90.18%	729.09%	-177.03%	-56.20%	229.93%	6.47%	-55.21%
Free Cash Flow Firm Q/Q Growth	41.52%	-5.35%	30.97%	70.89%	984.52%	15.99%	-18.36%	55.15%	49.42%	16.58%	65.24%
Invested Capital Q/Q Growth	-1.91%	0.95%	1.89%	-0.07%	-9.77%	0.03%	3.40%	-18.09%	-0.72%	-3.05%	-10.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	6.37%	6.14%	9.48%	8.56%	27.09%	6.21%	3.74%	-107.72%	7.16%	6.75%	7.81%
Operating Margin	-0.52%	-1.18%	2.69%	1.56%	-4.21%	-2.85%	-5.40%	-114.43%	-1.91%	-1.85%	-0.99%
EBIT Margin	-0.76%	-1.35%	2.56%	1.35%	18.83%	-2.21%	-5.30%	-117.14%	-1.76%	-1.90%	-0.94%
Profit (Net Income) Margin	-9.88%	0.42%	-1.51%	-1.12%	9.89%	-5.49%	-8.90%	-116.15%	-5.36%	-7.42%	-6.18%
Tax Burden Percent	253.34%	-9.61%	277.51%	57.73%	68.00%	90.32%	92.61%	95.57%	87.73%	121.31%	118.77%
Interest Burden Percent	515.27%	320.96%	-21.18%	-144.53%	77.24%	274.45%	181.49%	103.75%	348.26%	321.66%	550.78%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	32.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-0.29%	-0.67%	1.51%	0.89%	-2.43%	-1.63%	-2.90%	-64.83%	-1.15%	-1.12%	-0.61%
ROIC Less NNEP Spread (ROIC-NNEP)	-5.15%	0.03%	-0.25%	-0.22%	3.70%	-3.37%	-5.05%	-79.60%	-2.95%	-3.96%	-3.02%
Return on Net Nonoperating Assets (RNNOA)	-3.26%	0.02%	-0.17%	-0.15%	2.38%	-2.26%	-3.79%	-75.81%	-2.60%	-3.64%	-2.86%
Return on Equity (ROE)	-3.55%	-0.65%	1.35%	0.73%	-0.05%	-3.90%	-6.69%	-140.65%	-3.75%	-4.76%	-3.47%
Cash Return on Invested Capital (CROIC)	-2.59%	-2.99%	-2.59%	-0.58%	7.25%	8.23%	5.60%	8.94%	-1.25%	1.75%	15.80%
Operating Return on Assets (OROA)	-0.39%	-0.71%	1.37%	0.73%	10.31%	-1.17%	-2.68%	-61.59%	-0.95%	-1.02%	-0.52%
Return on Assets (ROA)	-5.15%	0.22%	-0.81%	-0.61%	5.42%	-2.89%	-4.50%	-61.07%	-2.91%	-3.99%	-3.42%
Return on Common Equity (ROCE)	-3.27%	-0.60%	1.24%	0.68%	-0.05%	-3.70%	-6.34%	-132.09%	-3.64%	-4.61%	-3.41%
Return on Equity Simple (ROE_SIMPLE)	-3.43%	0.00%	-3.90%	-4.40%	2.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.48	-3.73	8.34	4.80	-11	-8.05	-14	-304	-5.03	-5.09	-2.54
NOPAT Margin	-0.36%	-0.83%	1.88%	1.09%	-2.87%	-1.99%	-3.78%	-80.10%	-1.34%	-1.30%	-0.69%
Net Nonoperating Expense Percent (NNEP)	4.86%	-0.71%	1.77%	1.11%	-6.13%	1.73%	2.15%	14.76%	1.80%	2.85%	2.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.17%	-	-	-	-0.39%	-0.67%	-18.16%	-0.30%	-0.31%	-0.17%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	64.73%	61.02%	62.52%	63.12%	69.27%	66.17%	68.83%	72.05%	65.37%	63.23%	67.06%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	100.52%	101.18%	97.31%	98.44%	104.21%	102.85%	105.40%	214.43%	101.91%	101.85%	100.99%
Earnings before Interest and Taxes (EBIT)	-3.08	-6.10	11	5.91	72	-8.94	-20	-445	-6.59	-7.46	-3.47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	26	28	42	38	103	25	14	-409	27	26	29
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.80	2.14	2.21	1.59	1.57	1.46	0.77	0.65	0.88	1.13	0.88
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.26	1.49	1.49	1.04	1.08	0.99	0.53	0.29	0.38	0.48	0.37
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	65.60	535.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	1.14%	0.94%	0.92%	1.31%	1.29%	1.44%	2.82%	5.28%	4.08%	3.27%	4.33%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	1.52%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.44	1.63	1.65	1.31	1.34	1.27	0.87	0.85	0.95	1.06	0.95
Enterprise Value to Revenue (EV/Rev)	1.84	2.05	2.08	1.63	1.53	1.48	1.10	0.91	1.01	1.11	0.89
Enterprise Value to EBITDA (EV/EBITDA)	23.52	27.60	28.45	21.24	12.43	11.88	9.61	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	152.77	369.01	528.28	351.04	31.58	30.89	36.07	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	181.53	374.85	502.85	357.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	26.61	75.73	203.56	190.94	128.64	53.81	41.08	0.00	97.33	49.74	18.01
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	17.83	14.77	15.03	8.27	0.00	54.48	4.97
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.70	0.71	0.76	0.78	0.70	0.77	0.87	1.33	1.41	1.44	1.40
Long-Term Debt to Equity	0.66	0.66	0.71	0.73	0.67	0.73	0.83	1.24	1.31	1.35	1.31
Financial Leverage	0.63	0.62	0.66	0.69	0.64	0.67	0.75	0.95	0.88	0.92	0.95
Leverage Ratio	2.49	2.49	2.50	2.52	2.54	2.60	2.66	3.01	2.98	3.08	3.10
Compound Leverage Factor	12.85	8.00	-0.53	-3.65	1.96	7.14	4.82	3.12	10.37	9.90	17.09
Debt to Total Capital	41.08%	41.36%	43.02%	43.72%	41.34%	43.62%	46.66%	57.13%	58.53%	59.09%	58.38%
Short-Term Debt to Total Capital	2.05%	2.54%	2.75%	2.74%	2.31%	2.73%	2.58%	4.04%	4.38%	3.99%	3.86%
Long-Term Debt to Total Capital	39.03%	38.82%	40.26%	40.98%	39.03%	40.89%	44.08%	53.09%	54.16%	55.10%	54.52%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	4.57%	4.37%	4.32%	4.30%	1.43%	1.45%	1.40%	1.47%	1.41%	1.62%	0.10%
Common Equity to Total Capital	54.35%	54.28%	52.66%	51.98%	57.23%	54.93%	51.94%	41.40%	40.06%	39.29%	41.52%
Debt to EBITDA	6.80	7.13	7.54	7.17	4.06	4.34	5.42	-3.58	-2.85	-2.86	-2.72
Net Debt to EBITDA	6.60	6.80	7.27	6.95	3.50	3.76	4.82	-3.48	-2.74	-2.71	-2.42
Long-Term Debt to EBITDA	6.46	6.70	7.05	6.72	3.83	4.07	5.12	-3.33	-2.64	-2.67	-2.54
Debt to NOPAT	52.53	96.86	133.19	120.51	-294.02	-534.45	-34.55	-2.83	-2.96	-2.98	-2.80
Net Debt to NOPAT	50.95	92.36	128.44	116.83	-253.69	-463.03	-30.72	-2.75	-2.84	-2.82	-2.50
Long-Term Debt to NOPAT	49.90	90.92	124.66	112.96	-277.61	-501.02	-32.65	-2.63	-2.73	-2.78	-2.62
Altman Z-Score	0.89	1.02	1.07	0.84	0.99	0.79	0.49	-0.38	0.21	0.23	0.19
Noncontrolling Interest Sharing Ratio	7.81%	7.67%	7.75%	7.56%	5.14%	5.11%	5.23%	6.09%	2.79%	3.08%	1.77%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.30	0.33	0.36	0.34	0.35	0.36	0.35	0.34	0.36	0.38	0.42
Quick Ratio	0.14	0.19	0.18	0.17	0.18	0.20	0.20	0.17	0.19	0.23	0.29
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-71	-75	-54	-16	138	161	131	203	304	354	586
Operating Cash Flow to CapEx	-6.47%	4.61%	-60.92%	104.92%	12.48%	79.74%	-80.45%	-115.36%	158.13%	263.50%	230.21%
Free Cash Flow to Firm to Interest Expense	-5.57	-5.57	-3.92	-1.08	8.51	10.30	8.10	12.18	18.58	21.42	37.48
Operating Cash Flow to Interest Expense	-0.17	0.11	-1.29	2.30	0.20	1.73	-1.29	-1.95	2.58	2.72	1.29
Operating Cash Flow Less CapEx to Interest Expense	-2.85	-2.32	-3.40	0.11	-1.41	-0.44	-2.89	-3.64	0.95	1.69	0.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.53	0.54	0.54	0.55	0.53	0.51	0.53	0.54	0.54	0.55
Accounts Receivable Turnover	33.88	30.53	31.28	32.60	30.61	26.21	25.24	26.86	26.49	23.55	24.67
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	3.36	0.00	0.00	0.00	2.95	0.00	0.00	0.00	3.28
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	10.77	11.96	11.67	11.20	11.92	13.93	14.46	13.59	13.78	15.50	14.80
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	10.77	11.96	11.67	11.20	11.92	13.93	14.46	13.59	13.78	15.50	14.80
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,094	2,114	2,156	2,155	1,944	1,945	2,011	1,647	1,635	1,585	1,423
Invested Capital Turnover	0.80	0.81	0.80	0.81	0.85	0.82	0.77	0.81	0.86	0.86	0.88
Increase / (Decrease) in Invested Capital	70	71	62	20	-149	-169	-145	-508	-309	-359	-588
Enterprise Value (EV)	3,010	3,449	3,557	2,829	2,611	2,466	1,754	1,406	1,552	1,688	1,349
Market Capitalization	2,068	2,505	2,554	1,809	1,846	1,656	845	453	587	733	556
Book Value per Share	$6.85	$6.94	$6.84	$6.73	$6.96	$6.67	$6.47	$4.06	$3.92	$3.80	$3.67
Tangible Book Value per Share	($5.29)	($5.21)	($5.24)	($5.27)	($4.20)	($4.31)	($4.49)	($4.86)	($4.92)	($5.02)	($4.48)
Total Capital	2,120	2,155	2,190	2,184	2,061	2,065	2,121	1,675	1,673	1,655	1,522
Total Debt	871	891	942	955	852	901	990	957	979	978	888
Total Long-Term Debt	827	837	882	895	805	845	935	889	906	912	830
Net Debt	845	850	908	926	735	781	880	929	942	928	792
Capital Expenditures (CapEx)	34	33	29	32	26	34	26	28	27	17	8.76
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-348	-336	-289	-295	-289	-286	-256	-257	-245	-260	-275
Debt-free Net Working Capital (DFNWC)	-321	-297	-256	-266	-264	-257	-237	-235	-214	-217	-200
Net Working Capital (NWC)	-365	-352	-316	-325	-311	-313	-291	-303	-287	-283	-259
Net Nonoperating Expense (NNE)	39	-5.62	15	9.73	-48	14	19	137	15	24	20
Net Nonoperating Obligations (NNO)	845	850	908	926	735	781	880	929	942	909	790
Total Depreciation and Amortization (D&A)	29	34	31	32	31	34	34	36	33	34	32
Debt-free, Cash-free Net Working Capital to Revenue	-21.20%	-19.93%	-16.92%	-16.94%	-16.90%	-17.18%	-16.02%	-16.72%	-15.97%	-17.06%	-18.17%
Debt-free Net Working Capital to Revenue	-19.61%	-17.64%	-14.96%	-15.27%	-15.39%	-15.42%	-14.82%	-15.30%	-13.94%	-14.24%	-13.23%
Net Working Capital to Revenue	-22.26%	-20.88%	-18.48%	-18.70%	-18.17%	-18.81%	-18.24%	-19.69%	-18.72%	-18.58%	-17.11%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.24)	$0.01	($0.05)	($0.03)	$0.23	($0.13)	($0.20)	($2.55)	($0.11)	($0.18)	($0.16)
Adjusted Weighted Average Basic Shares Outstanding	168.22M	168.29M	168.69M	169.10M	169.60M	169.34M	170.29M	170.80M	171.16M	170.92M	172.02M
Adjusted Diluted Earnings per Share	($0.24)	$0.01	($0.05)	($0.03)	$0.23	($0.13)	($0.20)	($2.55)	($0.11)	($0.18)	($0.16)
Adjusted Weighted Average Diluted Shares Outstanding	168.22M	168.29M	168.69M	169.10M	171.49M	171.50M	170.29M	170.80M	171.16M	170.92M	172.02M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	168.60M	168.70M	168.70M	169.60M	170M	170.30M	170.80M	171.20M	171.30M	172.20M	172.40M
Normalized Net Operating Profit after Tax (NOPAT)	-0.74	-2.90	9.11	5.48	-10	-7.54	-13	-18	-1.20	-4.73	-7.30
Normalized NOPAT Margin	-0.18%	-0.64%	2.06%	1.25%	-2.75%	-1.87%	-3.58%	-4.82%	-0.32%	-1.21%	-1.99%
Pre Tax Income Margin	-3.90%	-4.34%	-0.54%	-1.95%	14.54%	-6.07%	-9.61%	-121.54%	-6.11%	-6.12%	-5.20%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-0.24	-0.45	0.83	0.41	4.39	-0.57	-1.23	-26.65	-0.40	-0.45	-0.22
NOPAT to Interest Expense	-0.12	-0.28	0.61	0.33	-0.67	-0.52	-0.88	-18.22	-0.31	-0.31	-0.16
EBIT Less CapEx to Interest Expense	-2.92	-2.89	-1.29	-1.78	2.79	-2.75	-2.83	-28.34	-2.04	-1.48	-0.78
NOPAT Less CapEx to Interest Expense	-2.79	-2.71	-1.51	-1.86	-2.27	-2.69	-2.48	-19.91	-1.94	-1.34	-0.72
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-92.61%	-106.68%	-86.65%	-60.10%	220.14%	1,711.01%	-280.86%	-13.79%	-4.73%	-2.29%	-1.10%
Augmented Payout Ratio	-132.25%	-111.81%	-92.62%	-72.12%	236.79%	1,854.89%	-301.83%	-14.22%	-5.18%	-2.54%	-1.41%

Financials Breakdown Chart

Key Financial Trends

Krispy Kreme’s latest quarter shows a business that is still generating positive operating cash flow, but profitability remains weak and the balance sheet is highly leveraged. In Q1 2026, revenue fell year over year to $367.0 million from $375.3 million in Q1 2025, and the company posted a net loss of $22.7 million. Despite that loss, operating cash flow was positive at $20.2 million, helped by depreciation and changes in working capital. The bigger story, though, is debt: Krispy Kreme ended the quarter with $888.4 million of short- and long-term debt combined, against just $74.2 million of cash and equivalents.

Q1 2026 operating cash flow was positive at $20.2 million, showing the core business still produced cash despite a net loss.
The company generated $100.1 million in investing cash flow, largely driven by divestitures, which boosted near-term liquidity.
Cash and equivalents increased to $74.2 million in Q1 2026 from $30.7 million in Q3 2025, improving the immediate cash position.
Quarterly selling, general and administrative expense held fairly steady versus recent quarters, suggesting costs are not spiraling out of control.
Depreciation remains a large non-cash charge at $32.1 million in Q1 2026, which supports operating cash flow but also reflects a capital-intensive business model.
The company continues to carry a meaningful level of goodwill and intangible assets, which together make up a large portion of total assets.
Shares outstanding were broadly stable around 172 million, so dilution has not been a major issue recently.
Q1 2026 revenue declined 2.2% year over year, from $375.3 million to $367.0 million.
Krispy Kreme posted a Q1 2026 net loss of $22.7 million, or -$0.16 per share, compared with a loss of $33.4 million in Q1 2025.
Interest expense remains heavy at $15.6 million in Q1 2026, which continues to pressure earnings.
Total liabilities of $1.75 billion are far above total equity of $633.3 million, underscoring a leveraged balance sheet.
Debt remains elevated at $829.7 million of long-term debt and $58.7 million of short-term debt, limiting financial flexibility.

Longer-term trend: Krispy Kreme’s results have been highly volatile over the last four years. Revenue has generally hovered in the high-$300 million to low-$400 million range per quarter, but operating performance has swung from modest profits to losses and even large impairment-driven setbacks. The most concerning feature is the company’s reliance on debt financing and asset sales to manage cash needs. While recent quarters show some stabilization in operating cash generation, the path to sustained profitability remains uneven.

Bottom line: DNUT is not in immediate cash-flow distress, but investors should view it as a highly leveraged turnaround story. Positive operating cash flow is encouraging, yet shrinking revenue, recurring losses, and high interest expense remain the key risks.

06/17/26 12:52 AM ETAI Generated. May Contain Errors.

Krispy Kreme Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Krispy Kreme's fiscal year ends in December. Their fiscal year 2025 ended on December 28, 2025.

Krispy Kreme's net income appears to be on an upward trend, with a most recent value of -$523.78 million in 2025, rising from -$34.00 million in 2019. The previous period was $3.82 million in 2024. See where experts think Krispy Kreme is headed by visiting Krispy Kreme's forecast page.

Krispy Kreme's total operating income in 2025 was -$469.27 million, based on the following breakdown:

Total Gross Profit: $1.52 billion
Total Operating Expenses: $1.99 billion

Over the last 6 years, Krispy Kreme's total revenue changed from $959.41 million in 2019 to $1.52 billion in 2025, a change of 58.7%.

Krispy Kreme's total liabilities were at $1.92 billion at the end of 2025, a 0.4% increase from 2024, and a 13.4% decrease since 2020.

In the past 5 years, Krispy Kreme's cash and equivalents has ranged from $28.96 million in 2024 to $42.39 million in 2025, and is currently $42.39 million as of their latest financial filing in 2025.

Over the last 6 years, Krispy Kreme's book value per share changed from 0.00 in 2019 to 3.80 in 2025, a change of 379.5%.

Related Companies

Financial statements for NASDAQ:DNUT last updated on 6/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Krispy Kreme (DNUT) Financials

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Krispy Kreme (DNUT) Financials

Annual Income Statements for Krispy Kreme

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Quarterly Metrics And Ratios for Krispy Kreme

Financials Breakdown Chart

Key Financial Trends

Krispy Kreme Financials - Frequently Asked Questions

When does Krispy Kreme's financial year end?

How has Krispy Kreme's net income changed over the last 6 years?

What is Krispy Kreme's operating income?

How has Krispy Kreme's revenue changed over the last 6 years?

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How has Krispy Kreme's book value per share changed over the last 6 years?

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