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Kraft Heinz (KHC) Financials

Kraft Heinz logo
$23.07 +0.53 (+2.35%)
Closing price 04:00 PM Eastern
Extended Trading
$23.22 +0.16 (+0.67%)
As of 06:22 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Kraft Heinz

Annual Income Statements for Kraft Heinz

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/3/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 12/26/2020 12/25/2021 12/31/2022 12/30/2023 12/28/2024 12/27/2025
Net Income / (Loss) Attributable to Common Shareholders		 -266 3,416 10,941 -10,192 1,935 356 1,012 2,363 2,855 2,744 -5,846
Consolidated Net Income / (Loss)		 647 3,606 10,932 -10,254 1,933 361 1,024 2,368 2,846 2,746 -5,848
Net Income / (Loss) Continuing Operations		 647 3,606 10,932 -10,254 1,933 361 1,024 2,368 2,846 2,746 -5,848
Total Pre-Tax Income 		1,013 4,939 5,450 -11,321 2,661 1,030 1,708 2,966 3,633 856 -5,445
Total Operating Income		 2,639 5,601 6,057 -10,205 3,070 2,128 3,460 3,634 4,572 1,683 -4,669
Total Gross Profit		 5,761 9,146 9,033 8,921 8,147 9,177 8,682 8,122 8,926 8,968 8,309
Total Revenue		 18,338 26,300 26,076 26,268 24,977 26,185 26,042 26,485 26,640 25,846 24,942
Operating Revenue		 18,338 26,300 26,076 26,268 24,977 26,185 26,042 26,485 26,640 25,846 24,942
Total Cost of Revenue		 12,577 17,154 17,043 17,347 16,830 17,008 17,360 18,363 17,714 16,878 16,633
Operating Cost of Revenue		 12,577 17,154 17,043 17,347 16,830 17,008 17,360 18,363 17,714 16,878 16,633
Total Operating Expenses		 3,122 3,545 2,976 19,126 5,077 7,049 5,222 4,488 4,354 7,285 12,978
Selling, General & Admin Expense		 3,122 3,527 2,927 3,190 3,178 3,650 3,588 3,575 3,692 3,616 3,672
Impairment Charge		 - 18 49 15,936 1,899 3,399 1,634 913 662 3,669 9,306
Total Other Income / (Expense), net		 -1,626 -662 -607 -1,116 -409 -1,098 -1,752 -668 -939 -827 -776
Interest Expense		 1,321 1,134 1,234 1,284 1,361 1,394 2,047 921 912 912 947
Other Income / (Expense), net		 -305 472 627 168 952 296 295 253 -27 85 171
Income Tax Expense		 366 1,333 -5,482 -1,067 728 669 684 598 787 -1,890 403
Net Income / (Loss) Attributable to Noncontrolling Interest		 13 10 -9.00 -62 -2.00 5.00 12 5.00 -9.00 2.00 -2.00
Basic Earnings per Share		 ($0.34) $2.81 $8.98 ($8.36) $1.59 $0.29 $0.83 $1.93 $2.33 $2.27 ($4.93)
Weighted Average Basic Shares Outstanding		 1.22B 1.22B 1.22B 1.22B 1.22B 1.22B 1.22B 1.23B 1.21B 1.19B 1.18B
Diluted Earnings per Share		 ($0.34) $2.78 $8.91 ($8.36) $1.58 $0.29 $0.82 $1.91 $2.31 $2.26 ($4.93)
Weighted Average Diluted Shares Outstanding		 1.22B 1.22B 1.22B 1.22B 1.22B 1.22B 1.22B 1.23B 1.21B 1.19B 1.18B
Weighted Average Basic & Diluted Shares Outstanding		 1.22B 1.22B 1.22B 1.22B 1.22B 1.22B 1.22B 1.23B 1.21B 1.19B 1.18B

Quarterly Income Statements for Kraft Heinz

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025
Net Income / (Loss) Attributable to Common Shareholders		 1,000 262 757 801 102 -290 2,131 712 -7,824 615 651
Consolidated Net Income / (Loss)		 998 254 757 804 100 -290 2,132 714 -7,823 613 648
Net Income / (Loss) Continuing Operations		 998 254 757 804 100 -290 2,132 714 -7,823 613 648
Total Pre-Tax Income 		1,172 460 950 1,029 348 -283 -238 1,018 -8,167 807 897
Total Operating Income		 1,376 653 1,300 1,302 522 -101 -40 1,196 -7,974 1,025 1,084
Total Gross Profit		 2,261 2,235 2,317 2,243 2,294 2,186 2,245 2,064 2,183 1,990 2,072
Total Revenue		 6,721 6,570 6,860 6,411 6,476 6,383 6,576 5,999 6,352 6,237 6,354
Operating Revenue		 6,721 6,570 6,860 6,411 6,476 6,383 6,576 5,999 6,352 6,237 6,354
Total Cost of Revenue		 4,460 4,335 4,543 4,168 4,182 4,197 4,331 3,935 4,169 4,247 4,282
Operating Cost of Revenue		 4,460 4,335 4,543 4,168 4,182 4,197 4,331 3,935 4,169 4,247 4,282
Total Operating Expenses		 885 1,582 1,017 941 1,772 2,287 2,285 868 10,157 965 988
Selling, General & Admin Expense		 885 920 1,017 941 918 859 898 868 891 930 983
Total Other Income / (Expense), net		 -204 -193 -350 -273 -174 -182 -198 -178 -193 -218 -187
Interest Expense		 228 228 229 226 229 230 227 229 240 240 238
Other Income / (Expense), net		 24 35 -121 -47 55 48 29 51 47 22 51
Income Tax Expense		 174 206 193 225 248 7.00 -2,370 304 -344 194 249
Net Income / (Loss) Attributable to Noncontrolling Interest		 -2.00 -8.00 - 3.00 -2.00 0.00 1.00 2.00 1.00 -2.00 -3.00
Basic Earnings per Share		 $0.81 $0.21 $0.63 $0.66 $0.08 ($0.24) $1.77 $0.60 ($6.60) $0.52 $0.55
Weighted Average Basic Shares Outstanding		 1.23B 1.23B 1.21B 1.21B 1.21B 1.21B 1.19B 1.18B 1.18B 1.18B 1.18B
Diluted Earnings per Share		 $0.81 $0.21 $0.61 $0.66 $0.08 ($0.24) $1.76 $0.59 ($6.60) $0.52 $0.56
Weighted Average Diluted Shares Outstanding		 1.23B 1.23B 1.21B 1.21B 1.21B 1.21B 1.19B 1.18B 1.18B 1.18B 1.18B
Weighted Average Basic & Diluted Shares Outstanding		 1.23B 1.23B 1.21B 1.21B 1.21B 1.21B 1.19B 1.18B 1.18B 1.18B 1.18B

Annual Cash Flow Statements for Kraft Heinz

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/3/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 12/26/2020 12/25/2021 12/31/2022 12/30/2023 12/28/2024 12/27/2025
Net Change in Cash & Equivalents		 2,602 -657 -2,543 -633 1,150 1,138 28 -2,405 363 82 1,458
Net Cash From Operating Activities		 1,272 2,648 501 2,574 3,552 4,929 5,364 2,469 3,976 4,184 4,462
Net Cash From Continuing Operating Activities		 1,272 2,648 501 2,574 3,552 4,929 5,364 2,478 3,976 4,184 4,462
Net Income / (Loss) Continuing Operations		 647 3,606 10,932 -10,254 1,933 361 1,024 2,368 2,846 2,746 -5,848
Consolidated Net Income / (Loss)		 647 3,606 10,932 -10,254 1,933 361 1,024 2,368 2,846 2,746 -5,848
Depreciation Expense		 740 1,337 1,031 983 994 969 910 933 961 948 968
Non-Cash Adjustments To Reconcile Net Income		 722 -406 -1,528 16,054 1,601 3,660 3,218 959 751 3,982 9,610
Changes in Operating Assets and Liabilities, net		 -725 -1,542 -9,606 -3,870 -670 61 219 -1,768 -582 -3,492 -268
Net Cash From Investing Activities		 -8,309 1,452 1,177 288 1,511 -522 4,038 -1,091 -916 -1,023 -1,833
Net Cash From Continuing Investing Activities		 -8,309 1,452 1,177 288 1,511 -522 4,038 -1,091 -916 -1,023 -1,833
Purchase of Property, Plant & Equipment		 -648 -1,247 -1,194 -826 -768 -596 -905 -916 -1,013 -1,024 -801
Acquisitions		 -9,468 0.00 0.00 -248 -199 0.00 -74 -481 0.00 -140 0.00
Purchase of Investments		 - - - - - 25 - 208 0.00 0.00 -1,724
Divestitures		 - - 0.00 18 1,875 0.00 5,014 88 0.00 8.00 9.00
Sale and/or Maturity of Investments		 488 - 6.00 24 590 - -28 - 0.00 0.00 686
Other Investing Activities, net		 1,319 2,699 2,365 1,320 13 49 31 10 97 133 -3.00
Net Cash From Financing Activities		 10,047 -4,620 -4,221 -3,363 -3,913 -3,331 -9,344 -3,714 -2,678 -3,008 -1,251
Net Cash From Continuing Financing Activities		 10,047 -4,620 -4,221 -3,363 -3,913 -3,331 -9,344 -3,714 -2,678 -3,008 -1,251
Repayment of Debt		 -12,585 -6,197 -8,890 -5,954 -5,484 -8,873 -7,114 -1,702 -1,065 -683 -537
Repurchase of Common Equity		 - - - - - - -271 -280 -455 -988 -436
Payment of Dividends		 -2,202 -3,764 -2,888 -3,183 -1,953 -1,958 -1,959 -1,960 -1,965 -1,931 -1,898
Issuance of Debt		 14,834 13,661 7,557 5,774 3,524 7,500 0.00 228 807 594 1,620
Effect of Exchange Rate Changes		 - -137 - -132 - 62 -30 -69 -19 -71 80
Cash Interest Paid		 704 1,176 1,269 1,322 1,306 1,286 1,196 937 896 906 903

Quarterly Cash Flow Statements for Kraft Heinz

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

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025
Net Change in Cash & Equivalents		 121 105 350 224 -726 386 269 777 -551 539 693
Net Cash From Operating Activities		 1,098 1,036 1,356 771 942 1,083 1,388 720 1,209 1,157 1,376
Net Cash From Continuing Operating Activities		 1,098 1,050 1,350 768 938 1,071 1,394 720 1,209 1,157 1,376
Net Income / (Loss) Continuing Operations		 998 254 757 804 100 -290 2,132 714 -7,823 613 648
Consolidated Net Income / (Loss)		 998 254 757 804 100 -290 2,132 714 -7,823 613 648
Depreciation Expense		 216 274 251 230 239 245 234 231 241 245 251
Non-Cash Adjustments To Reconcile Net Income		 43 697 17 93 819 1,495 1,573 24 9,282 85 219
Changes in Operating Assets and Liabilities, net		 -155 -172 329 -359 -219 -377 -2,541 -249 -491 214 258
Net Cash From Investing Activities		 -211 -263 -178 -287 -345 -217 -174 -878 -470 -262 -223
Net Cash From Continuing Investing Activities		 -211 -263 -178 -287 -345 -217 -174 -878 -470 -262 -223
Purchase of Property, Plant & Equipment		 -242 -271 -234 -294 -249 -234 -247 -238 -187 -171 -205
Purchase of Investments		 - - - 0.00 - - - -673 -360 -325 -366
Sale and/or Maturity of Investments		 - - - - - - - - - 309 332
Other Investing Activities, net		 31 8.00 25 10 38 15 -5.00 24 32 -75 16
Net Cash From Financing Activities		 -748 -629 -862 -239 -1,326 -481 -962 900 -1,323 -340 -488
Net Cash From Continuing Financing Activities		 -748 -629 -862 -239 -1,326 -481 -962 900 -1,323 -340 -488
Repayment of Debt		 -898 -25 -216 -17 -635 2.00 -33 -18 -639 133 -13
Repurchase of Common Equity		 -16 -112 -305 -329 -208 -1.00 -450 -225 -210 - -1.00
Payment of Dividends		 -491 -492 -491 -486 -483 -483 -479 -477 -474 -473 -474
Effect of Exchange Rate Changes		 -18 - - -21 3.00 1.00 - 35 33 -16 28

Annual Balance Sheets for Kraft Heinz

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/3/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 12/26/2020 12/25/2021 12/31/2022 12/30/2023 12/28/2024 12/27/2025
Total Assets		 122,973 120,480 120,092 103,461 101,450 99,830 93,394 90,513 90,339 88,287 81,786
Total Current Assets		 9,780 8,753 7,201 9,075 8,097 10,822 8,994 7,897 7,929 7,655 10,127
Cash & Equivalents		 4,837 4,204 1,629 1,130 2,279 3,417 3,445 1,040 1,400 1,334 2,615
Short-Term Investments		 - - - - - - - - - - 1,060
Accounts Receivable		 1,454 898 1,274 2,129 1,973 2,063 1,957 2,120 2,112 2,147 2,254
Inventories, net		 2,618 2,684 2,760 2,667 2,721 2,773 2,729 3,651 3,614 3,376 3,167
Prepaid Expenses		 - - 345 400 384 132 136 240 234 215 291
Other Current Assets		 871 707 655 1,221 618 574 716 842 569 583 588
Other Current Nonoperating Assets		 - - 0.00 1,376 122 1,863 11 4.00 - 0.00 152
Plant, Property, & Equipment, net		 6,524 6,688 7,061 7,078 0.00 0.00 0.00 0.00 0.00 7,152 0.00
Total Noncurrent Assets		 106,669 105,039 105,830 87,308 93,353 89,008 84,400 82,616 82,410 73,480 71,659
Goodwill		 43,051 44,125 44,825 36,503 35,546 33,089 31,296 30,833 30,459 28,673 22,179
Intangible Assets		 62,120 59,297 59,432 49,468 48,652 46,667 43,542 42,649 42,448 40,099 37,529
Other Noncurrent Operating Assets		 1,498 1,617 1,573 1,337 9,155 9,252 9,562 9,134 9,503 4,708 11,951
Total Liabilities & Shareholders' Equity		 122,973 120,480 120,092 103,461 101,450 99,830 93,394 90,513 90,339 88,287 81,786
Total Liabilities		 56,737 62,906 54,016 51,683 49,701 49,587 43,942 41,643 40,617 38,962 39,997
Total Current Liabilities		 6,932 9,501 10,154 7,503 7,875 8,061 9,064 9,028 8,037 7,253 8,778
Short-Term Debt		 83 2,691 3,195 398 1,028 236 754 837 638 654 1,908
Accounts Payable		 2,844 3,996 4,362 4,153 4,003 4,304 4,753 4,848 4,627 4,188 4,308
Accrued Expenses		 856 749 689 722 647 946 804 749 733 697 801
Other Current Liabilities		 1,241 1,238 1,489 1,767 1,804 2,086 1,944 2,330 1,781 1,451 1,455
Other Current Nonoperating Liabilities		 401 415 419 463 393 375 268 264 258 263 306
Total Noncurrent Liabilities		 49,805 53,405 43,862 44,180 41,826 41,526 34,878 32,615 32,580 31,709 31,219
Long-Term Debt		 25,151 29,713 28,308 30,770 28,216 28,070 21,061 19,233 19,394 19,215 19,311
Noncurrent Deferred Revenue		 - - - - - 6.00 1,534 1,477 1,424 1,374 1,321
Noncurrent Deferred & Payable Income Tax Liabilities		 21,497 20,848 14,039 12,202 11,878 11,462 10,536 10,152 10,201 9,679 9,022
Noncurrent Employee Benefit Liabilities		 2,405 2,038 427 306 273 243 205 144 143 135 131
Other Noncurrent Operating Liabilities		 752 806 1,088 902 1,459 1,745 1,542 1,609 1,418 1,306 1,434
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		 8,343 0.00 6.00 3.00 0.00 0.00 4.00 40 34 6.00 12
Total Equity & Noncontrolling Interests		 57,893 57,574 66,070 51,775 51,749 50,243 49,448 48,830 49,688 49,319 41,777
Total Preferred & Common Equity		 57,685 57,358 65,863 51,657 51,623 50,103 49,298 48,678 49,526 49,185 41,664
Total Common Equity		 57,685 57,358 65,863 51,657 51,623 50,103 49,298 48,678 49,526 49,185 41,664
Common Stock		 58,387 58,605 58,646 58,735 56,840 55,108 53,391 51,846 52,049 52,147 51,299
Retained Earnings		 0.00 588 8,495 -4,853 -3,060 -2,694 -1,682 489 1,367 2,171 -4,629
Treasury Stock		 -31 -207 -224 -282 -271 -344 -587 -847 -1,286 -2,218 -2,636
Accumulated Other Comprehensive Income / (Loss)		 -671 -1,628 -1,054 -1,943 -1,886 -1,967 -1,824 -2,810 -2,604 -2,915 -2,370
Noncontrolling Interest		 208 216 207 118 126 140 150 152 162 134 113

Quarterly Balance Sheets for Kraft Heinz

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

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025
Period end date 4/1/2023 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025
Total Assets		 90,943 90,956 89,656 90,339 90,309 88,797 88,566 88,287 90,274 81,581 81,695
Total Current Assets		 8,216 7,994 7,838 7,929 8,233 7,530 8,202 7,655 9,458 9,241 9,988
Cash & Equivalents		 826 947 1,052 1,400 1,626 900 1,284 1,334 2,113 1,567 2,114
Short-Term Investments		 - - - - - - - - 674 997 1,020
Accounts Receivable		 2,286 2,237 2,103 2,112 2,216 2,160 2,178 2,147 2,257 2,344 2,255
Inventories, net		 4,016 3,820 3,779 3,614 3,578 3,573 3,872 3,376 3,591 3,567 3,530
Prepaid Expenses		 329 296 245 234 292 273 228 215 271 258 281
Other Current Assets		 755 691 654 569 521 624 633 583 552 508 640
Other Current Nonoperating Assets		 4.00 3.00 5.00 - 0.00 0.00 7.00 - - - 148
Plant, Property, & Equipment, net		 6,776 0.00 6,813 0.00 7,036 0.00 7,137 0.00 7,157 7,251 7,144
Total Noncurrent Assets		 75,951 82,962 75,005 82,410 75,040 81,267 73,227 80,632 73,659 65,089 64,563
Goodwill		 30,888 30,953 30,310 30,459 30,390 29,501 28,946 28,673 28,753 22,226 22,167
Intangible Assets		 42,665 42,714 42,314 42,448 42,296 42,347 41,802 40,099 40,147 37,782 37,545
Other Noncurrent Operating Assets		 2,398 9,295 2,381 9,503 2,354 9,419 2,479 11,860 4,759 5,081 4,851
Total Liabilities & Shareholders' Equity		 90,943 90,956 89,656 90,339 90,309 88,797 88,566 88,287 90,274 81,581 81,695
Total Liabilities		 41,590 40,942 40,198 40,617 40,621 39,766 40,097 38,962 40,669 40,089 40,116
Total Current Liabilities		 8,954 8,385 7,804 8,037 7,571 7,486 7,728 7,253 7,235 8,624 8,863
Short-Term Debt		 842 630 608 638 622 669 708 654 678 1,904 1,905
Accounts Payable		 4,804 4,545 4,463 4,627 4,421 4,448 4,553 4,188 4,122 4,340 4,582
Accrued Expenses		 758 843 793 733 749 724 752 697 694 749 711
Other Current Liabilities		 2,235 2,109 1,672 1,781 1,475 1,385 1,442 1,451 1,442 1,350 1,371
Other Current Nonoperating Liabilities		 315 258 268 258 304 260 273 263 299 281 294
Total Noncurrent Liabilities		 32,636 32,557 32,394 32,580 33,050 32,280 32,369 31,709 33,434 31,465 31,253
Long-Term Debt		 19,263 19,367 19,270 19,394 19,923 19,265 19,383 19,215 20,925 19,307 19,287
Noncurrent Deferred Revenue		 1,465 1,451 1,436 1,424 1,414 1,400 1,386 1,374 1,361 1,348 1,331
Noncurrent Deferred & Payable Income Tax Liabilities		 10,162 10,149 10,132 10,201 10,220 10,173 10,023 9,679 9,716 9,103 9,103
Noncurrent Employee Benefit Liabilities		 145 148 143 143 140 137 140 135 134 139 136
Other Noncurrent Operating Liabilities		 1,601 1,442 1,413 1,418 1,353 1,305 1,437 1,306 1,298 1,568 1,396
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		 40 40 24 34 35 10 6.00 6.00 7.00 7.00 7.00
Total Equity & Noncontrolling Interests		 49,313 49,974 49,434 49,688 49,653 49,021 48,463 49,319 49,598 41,485 41,572
Total Preferred & Common Equity		 49,153 49,814 49,276 49,526 49,522 48,895 48,328 49,185 49,460 41,358 41,450
Total Common Equity		 49,153 49,814 49,276 49,526 49,522 48,895 48,328 49,185 49,460 41,358 41,450
Common Stock		 51,922 51,979 52,016 52,049 52,062 52,098 52,118 52,147 52,181 52,208 51,750
Retained Earnings		 831 1,336 1,104 1,367 1,680 1,297 521 2,171 2,404 -5,895 -5,280
Treasury Stock		 -852 -870 -981 -1,286 -1,551 -1,762 -1,764 -2,218 -2,432 -2,636 -2,636
Accumulated Other Comprehensive Income / (Loss)		 -2,748 -2,631 -2,863 -2,604 -2,669 -2,738 -2,547 -2,915 -2,693 -2,319 -2,384
Noncontrolling Interest		 160 160 158 162 131 126 135 134 138 127 122

Annual Metrics And Ratios for Kraft Heinz

This table displays calculated financial ratios and metrics derived from Kraft Heinz's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 1/3/2016 12/31/2016 12/30/2017 12/29/2018 12/28/2019 12/26/2020 12/25/2021 12/31/2022 12/30/2023 12/28/2024 12/27/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 67.90% 43.42% -0.85% 0.74% -4.91% 4.84% -0.55% 1.70% 0.59% -2.98% -3.50%
EBITDA Growth		 47.14% 138.45% 4.59% -227.16% 150.14% -30.55% 42.40% 3.18% 14.27% -50.73% -229.97%
EBIT Growth		 56.75% 160.20% 10.06% -250.16% 140.07% -39.73% 54.91% 3.52% 16.93% -61.10% -354.41%
NOPAT Growth		 28.45% 142.62% 197.10% -158.80% 131.22% -66.56% 178.13% 39.86% 23.45% 50.74% -160.54%
Net Income Growth		 -3.72% 457.34% 203.16% -193.80% 118.85% -81.32% 183.66% 131.25% 20.19% -3.51% -312.96%
EPS Growth		 -100.00% 917.65% 220.50% -193.83% 118.90% -81.65% 182.76% 132.93% 20.94% -2.16% -318.14%
Operating Cash Flow Growth		 -40.56% 108.18% -81.08% 413.77% 38.00% 38.77% 8.83% -53.97% 61.04% 5.23% 6.64%
Free Cash Flow Firm Growth		 -131.25% 109.62% -65.42% 322.56% -50.16% 46.74% 25.51% -63.08% 10.97% 88.14% -8.84%
Invested Capital Growth		 226.23% -1.83% 11.81% -16.05% -2.37% -6.76% -7.56% 0.12% 0.66% -0.71% -12.68%
Revenue Q/Q Growth		 0.00% -1.70% 0.64% 0.21% -1.40% 1.56% -0.88% 2.60% -1.92% -1.09% -0.88%
EBITDA Q/Q Growth		 0.00% 2.02% 0.22% -249.52% 146.73% 43.91% -24.55% 33.20% -1.56% -30.85% 24.78%
EBIT Q/Q Growth		 0.00% 3.41% 0.80% -276.99% 137.31% 65.69% -28.95% 43.80% -1.92% -40.23% 20.30%
NOPAT Q/Q Growth		 0.00% -0.27% 197.10% -156.78% 127.32% 109.22% -37.35% 38.24% -0.09% 166.27% 19.40%
Net Income Q/Q Growth		 0.00% 7.77% 180.16% -199.44% 117.77% 173.67% -55.73% 93.15% -4.37% 100.29% -34.01%
EPS Q/Q Growth		 0.00% 4.91% 181.07% -199.41% 117.83% 170.73% -56.15% 94.90% -4.55% 103.60% -32.17%
Operating Cash Flow Q/Q Growth		 -18.20% 71.73% -69.60% 88.85% -3.64% 0.84% 32.41% -44.30% 11.31% 0.77% -0.27%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -20.04% 56.38% -48.30% 631.39% 21.77% -22.89% -21.39% 94.15% 44.92%
Invested Capital Q/Q Growth		 0.00% -1.73% 7.87% -16.24% -1.77% 0.24% -3.44% -1.14% 0.09% 0.86% -0.50%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 31.42% 34.78% 34.64% 33.96% 32.62% 35.05% 33.34% 30.67% 33.51% 34.70% 33.31%
EBITDA Margin		 16.15% 26.86% 28.33% -35.76% 18.86% 12.49% 17.89% 18.15% 20.62% 10.47% -14.15%
Operating Margin		 14.39% 21.30% 23.23% -38.85% 12.29% 8.13% 13.29% 13.72% 17.16% 6.51% -18.72%
EBIT Margin		 12.73% 23.09% 25.63% -38.21% 16.10% 9.26% 14.42% 14.68% 17.06% 6.84% -18.03%
Profit (Net Income) Margin		 3.53% 13.71% 41.92% -39.04% 7.74% 1.38% 3.93% 8.94% 10.68% 10.62% -23.45%
Tax Burden Percent		 63.87% 73.01% 200.59% 90.58% 72.64% 35.05% 59.95% 79.84% 78.34% 320.79% 107.40%
Interest Burden Percent		 43.40% 81.33% 81.54% 112.79% 66.16% 42.49% 45.49% 76.31% 79.93% 48.42% 121.05%
Effective Tax Rate		 36.13% 26.99% -100.59% 0.00% 27.36% 64.95% 40.05% 20.16% 21.66% -220.79% 0.00%
Return on Invested Capital (ROIC)		 2.94% 4.70% 13.31% -8.06% 2.79% 0.98% 2.93% 4.26% 5.24% 7.90% -5.12%
ROIC Less NNEP Spread (ROIC-NNEP)		 -3.40% 2.77% 9.18% -18.53% 1.74% -0.54% -2.07% 1.45% 1.38% -6.18% -19.26%
Return on Net Nonoperating Assets (RNNOA)		 -1.36% 1.12% 4.37% -9.34% 0.94% -0.27% -0.87% 0.56% 0.54% -2.35% -7.71%
Return on Equity (ROE)		 1.58% 5.83% 17.68% -17.40% 3.73% 0.71% 2.05% 4.82% 5.77% 5.54% -12.84%
Cash Return on Invested Capital (CROIC)		 -103.22% 6.55% 2.16% 9.39% 5.19% 7.98% 10.78% 4.14% 4.58% 8.61% 8.41%
Operating Return on Assets (OROA)		 2.93% 4.99% 5.56% -8.98% 3.93% 2.41% 3.89% 4.23% 5.03% 1.98% -5.29%
Return on Assets (ROA)		 0.81% 2.96% 9.09% -9.17% 1.89% 0.36% 1.06% 2.58% 3.15% 3.07% -6.88%
Return on Common Equity (ROCE)		 1.25% 5.41% 17.62% -17.35% 3.73% 0.71% 2.05% 4.80% 5.75% 5.53% -12.80%
Return on Equity Simple (ROE_SIMPLE)		 1.12% 6.29% 16.60% -19.85% 3.74% 0.72% 2.08% 4.86% 5.75% 5.58% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,686 4,089 12,150 -7,144 2,230 746 2,074 2,901 3,582 5,399 -3,268
NOPAT Margin		 9.19% 15.55% 46.59% -27.19% 8.93% 2.85% 7.97% 10.95% 13.44% 20.89% -13.10%
Net Nonoperating Expense Percent (NNEP)		 6.34% 1.93% 4.13% 10.47% 1.05% 1.52% 5.00% 2.81% 3.85% 14.08% 14.14%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 4.21% 5.14% 7.80% -5.19%
Cost of Revenue to Revenue		 68.58% 65.22% 65.36% 66.04% 67.38% 64.95% 66.66% 69.33% 66.49% 65.30% 66.69%
SG&A Expenses to Revenue		 17.02% 13.41% 11.22% 12.14% 12.72% 13.94% 13.78% 13.50% 13.86% 13.99% 14.72%
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		 17.02% 13.48% 11.41% 72.81% 20.33% 26.92% 20.05% 16.95% 16.34% 28.19% 52.03%
Earnings before Interest and Taxes (EBIT)		 2,334 6,073 6,684 -10,037 4,022 2,424 3,755 3,887 4,545 1,768 -4,498
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2,962 7,063 7,387 -9,393 4,710 3,271 4,658 4,806 5,492 2,706 -3,530
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.10 1.37 1.09 0.81 0.62 0.75 0.80 0.94 0.87 0.75 0.69
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)		 3.45 2.98 2.75 1.60 1.29 1.44 1.52 1.72 1.62 1.44 1.15
Price to Earnings (P/E)		 0.00 22.92 6.56 0.00 16.66 105.78 39.18 19.26 15.16 13.52 0.00
Dividend Yield		 3.26% 4.55% 5.17% 7.26% 6.06% 5.19% 4.94% 4.31% 4.53% 5.22% 6.63%
Earnings Yield		 0.00% 4.36% 15.23% 0.00% 6.00% 0.95% 2.55% 5.19% 6.60% 7.40% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.05 1.24 1.06 0.89 0.75 0.85 0.85 0.95 0.91 0.82 0.78
Enterprise Value to Revenue (EV/Rev)		 5.03 4.06 3.91 2.75 2.38 2.39 2.23 2.44 2.33 2.16 1.85
Enterprise Value to EBITDA (EV/EBITDA)		 31.12 15.11 13.80 0.00 12.60 19.16 12.49 13.47 11.31 20.61 0.00
Enterprise Value to EBIT (EV/EBIT)		 39.50 17.57 15.25 0.00 14.75 25.86 15.49 16.65 13.66 31.55 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 54.69 26.10 8.39 0.00 26.60 84.05 28.04 22.31 17.34 10.33 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 72.47 40.30 203.40 28.04 16.70 12.72 10.84 26.22 15.62 13.33 10.36
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 18.73 51.74 8.67 14.30 10.30 7.61 22.95 19.84 9.47 8.61
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.38 0.56 0.48 0.60 0.57 0.56 0.44 0.41 0.40 0.40 0.51
Long-Term Debt to Equity		 0.38 0.52 0.43 0.59 0.55 0.56 0.43 0.39 0.39 0.39 0.46
Financial Leverage		 0.40 0.41 0.48 0.50 0.54 0.50 0.42 0.39 0.39 0.38 0.40
Leverage Ratio		 1.95 1.97 1.95 1.90 1.98 1.97 1.94 1.87 1.83 1.80 1.87
Compound Leverage Factor		 0.85 1.60 1.59 2.14 1.31 0.84 0.88 1.43 1.47 0.87 2.26
Debt to Total Capital		 27.59% 36.01% 32.28% 37.58% 36.11% 36.04% 30.61% 29.11% 28.72% 28.71% 33.68%
Short-Term Debt to Total Capital		 0.09% 2.99% 3.27% 0.48% 1.27% 0.30% 1.06% 1.21% 0.91% 0.95% 3.03%
Long-Term Debt to Total Capital		 27.50% 33.02% 29.01% 37.10% 34.84% 35.74% 29.55% 27.90% 27.80% 27.77% 30.65%
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		 9.35% 0.24% 0.22% 0.15% 0.16% 0.18% 0.22% 0.28% 0.28% 0.20% 0.20%
Common Equity to Total Capital		 63.06% 63.75% 67.50% 62.28% 63.74% 63.79% 69.17% 70.61% 71.00% 71.08% 66.12%
Debt to EBITDA		 8.52 4.59 4.26 -3.32 6.21 8.65 4.68 4.18 3.65 7.34 -6.01
Net Debt to EBITDA		 6.89 3.99 4.04 -3.20 5.73 7.61 3.94 3.96 3.39 6.85 -4.97
Long-Term Debt to EBITDA		 8.49 4.21 3.83 -3.28 5.99 8.58 4.52 4.00 3.53 7.10 -5.47
Debt to NOPAT		 14.97 7.92 2.59 -4.36 13.11 37.95 10.52 6.92 5.59 3.68 -6.49
Net Debt to NOPAT		 12.10 6.90 2.46 -4.20 12.09 33.37 8.86 6.56 5.20 3.43 -5.37
Long-Term Debt to NOPAT		 14.92 7.27 2.33 -4.31 12.65 37.64 10.15 6.63 5.41 3.56 -5.91
Altman Z-Score		 0.91 1.13 1.27 0.37 0.73 0.79 0.93 1.08 1.12 0.97 0.49
Noncontrolling Interest Sharing Ratio		 20.90% 7.08% 0.35% 0.28% 0.24% 0.26% 0.29% 0.35% 0.39% 0.34% 0.29%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.41 0.92 0.71 1.21 1.03 1.34 0.99 0.87 0.99 1.06 1.15
Quick Ratio		 0.91 0.54 0.29 0.43 0.54 0.68 0.60 0.35 0.44 0.48 0.68
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -59,198 5,696 1,970 8,323 4,148 6,087 7,639 2,820 3,130 5,888 5,368
Operating Cash Flow to CapEx		 196.30% 212.35% 41.96% 311.62% 462.50% 827.01% 592.71% 269.54% 392.50% 408.59% 557.05%
Free Cash Flow to Firm to Interest Expense		 -44.81 5.02 1.60 6.48 3.05 4.37 3.73 3.06 3.43 6.46 5.67
Operating Cash Flow to Interest Expense		 0.96 2.34 0.41 2.00 2.61 3.54 2.62 2.68 4.36 4.59 4.71
Operating Cash Flow Less CapEx to Interest Expense		 0.47 1.24 -0.56 1.36 2.05 3.11 2.18 1.69 3.25 3.46 3.87
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.23 0.22 0.22 0.24 0.24 0.26 0.27 0.29 0.29 0.29 0.29
Accounts Receivable Turnover		 15.91 22.36 24.01 15.44 12.18 12.98 12.96 12.99 12.59 12.14 11.33
Inventory Turnover		 6.61 6.47 6.26 6.39 6.25 6.19 6.31 5.76 4.88 4.83 5.08
Fixed Asset Turnover		 4.13 3.98 3.79 3.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 5.60 5.02 4.08 4.07 4.13 4.09 3.83 3.83 3.74 3.83 3.92
Days Sales Outstanding (DSO)		 22.94 16.32 15.20 23.64 29.97 28.13 28.17 28.09 28.99 30.07 32.20
Days Inventory Outstanding (DIO)		 55.18 56.41 58.30 57.10 58.43 58.95 57.84 63.41 74.85 75.58 71.79
Days Payable Outstanding (DPO)		 65.23 72.77 89.50 89.58 88.44 89.14 95.21 95.42 97.62 95.32 93.22
Cash Conversion Cycle (CCC)		 12.90 -0.04 -16.00 -8.84 -0.04 -2.05 -9.20 -3.92 6.22 10.34 10.77
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 87,796 86,189 96,369 80,903 78,985 73,644 68,079 68,160 68,612 68,123 59,487
Invested Capital Turnover		 0.32 0.30 0.29 0.30 0.31 0.34 0.37 0.39 0.39 0.38 0.39
Increase / (Decrease) in Invested Capital		 60,884 -1,607 10,180 -15,466 -1,918 -5,341 -5,565 81 452 -489 -8,636
Enterprise Value (EV)		 92,181 106,716 101,903 72,178 59,325 62,686 58,170 64,735 62,103 55,772 46,231
Market Capitalization		 63,233 78,300 71,816 42,019 32,234 37,657 39,646 45,513 43,275 37,097 28,562
Book Value per Share		 $47.54 $47.12 $54.05 $42.36 $42.27 $40.98 $40.23 $39.74 $40.38 $40.68 $35.20
Tangible Book Value per Share		 ($39.13) ($37.84) ($31.51) ($28.14) ($26.68) ($24.25) ($20.84) ($20.25) ($19.06) ($16.20) ($15.24)
Total Capital		 91,470 89,978 97,579 82,946 80,993 78,549 71,267 68,940 69,754 69,194 63,008
Total Debt		 25,234 32,404 31,503 31,168 29,244 28,306 21,815 20,070 20,032 19,869 21,219
Total Long-Term Debt		 25,151 29,713 28,308 30,770 28,216 28,070 21,061 19,233 19,394 19,215 19,311
Net Debt		 20,397 28,200 29,874 30,038 26,965 24,889 18,370 19,030 18,632 18,535 17,544
Capital Expenditures (CapEx)		 648 1,247 1,194 826 768 596 905 916 1,013 1,024 801
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1,906 -2,261 -1,387 840 -1,029 -420 -2,761 -1,334 -870 -278 -418
Debt-free Net Working Capital (DFNWC)		 2,931 1,943 242 1,970 1,250 2,997 684 -294 530 1,056 3,257
Net Working Capital (NWC)		 2,848 -748 -2,953 1,572 222 2,761 -70 -1,131 -108 402 1,349
Net Nonoperating Expense (NNE)		 1,039 483 1,218 3,111 297 385 1,050 533 736 2,653 2,580
Net Nonoperating Obligations (NNO)		 21,560 28,615 30,293 29,125 27,236 23,401 18,627 19,290 18,890 18,798 17,698
Total Depreciation and Amortization (D&A)		 628 990 703 644 688 847 903 919 947 938 968
Debt-free, Cash-free Net Working Capital to Revenue		 -10.39% -8.60% -5.32% 3.20% -4.12% -1.60% -10.60% -5.04% -3.27% -1.08% -1.68%
Debt-free Net Working Capital to Revenue		 15.98% 7.39% 0.93% 7.50% 5.00% 11.45% 2.63% -1.11% 1.99% 4.09% 13.06%
Net Working Capital to Revenue		 15.53% -2.84% -11.32% 5.98% 0.89% 10.54% -0.27% -4.27% -0.41% 1.56% 5.41%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.34) $0.00 $0.00 $0.00 $1.59 $0.29 $0.83 $1.93 $2.33 $2.27 ($4.93)
Adjusted Weighted Average Basic Shares Outstanding		 1.22B 0.00 0.00 0.00 1.22B 1.22B 1.22B 1.23B 1.21B 1.19B 1.18B
Adjusted Diluted Earnings per Share		 ($0.34) $0.00 $0.00 $0.00 $1.58 $0.29 $0.82 $1.91 $2.31 $2.26 ($4.93)
Adjusted Weighted Average Diluted Shares Outstanding		 1.22B 0.00 0.00 0.00 1.22B 1.22B 1.22B 1.23B 1.21B 1.19B 1.18B
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		 1.22B 0.00 0.00 0.00 1.22B 1.22B 1.22B 1.23B 1.21B 1.19B 1.18B
Normalized Net Operating Profit after Tax (NOPAT)		 1,686 4,102 4,274 4,012 3,610 3,869 3,054 3,630 4,100 3,746 3,246
Normalized NOPAT Margin		 9.19% 15.60% 16.39% 15.27% 14.45% 14.78% 11.73% 13.71% 15.39% 14.50% 13.01%
Pre Tax Income Margin		 5.52% 18.78% 20.90% -43.10% 10.65% 3.93% 6.56% 11.20% 13.64% 3.31% -21.83%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.77 5.36 5.42 -7.82 2.96 1.74 1.83 4.22 4.98 1.94 -4.75
NOPAT to Interest Expense		 1.28 3.61 9.85 -5.56 1.64 0.54 1.01 3.15 3.93 5.92 -3.45
EBIT Less CapEx to Interest Expense		 1.28 4.26 4.45 -8.46 2.39 1.31 1.39 3.23 3.87 0.82 -5.60
NOPAT Less CapEx to Interest Expense		 0.79 2.51 8.88 -6.21 1.07 0.11 0.57 2.16 2.82 4.80 -4.30
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 340.34% 104.38% 26.42% -31.04% 101.03% 542.38% 191.31% 82.77% 69.04% 70.32% -32.46%
Augmented Payout Ratio		 340.34% 104.38% 26.42% -31.04% 101.03% 542.38% 217.77% 94.59% 85.03% 106.30% -39.91%

Quarterly Metrics And Ratios for Kraft Heinz

This table displays calculated financial ratios and metrics derived from Kraft Heinz's official financial filings.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025
Period end date 7/1/2023 9/30/2023 12/30/2023 3/30/2024 6/29/2024 9/28/2024 12/28/2024 3/29/2025 6/28/2025 9/27/2025 12/27/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 2.55% 1.00% -7.06% -1.20% -3.65% -2.85% -4.14% -6.43% -1.91% -2.29% -3.38%
EBITDA Growth		 86.14% -3.91% -5.75% -0.87% -49.44% -80.19% -84.64% -0.47% -1,041.91% 572.92% 521.52%
EBIT Growth		 121.17% -11.00% -7.02% -1.80% -58.79% -107.70% -100.93% -0.64% -1,473.83% 2,075.47% 10,418.18%
NOPAT Growth		 225.50% -39.85% 0.12% 2.77% -87.20% -119.61% -102.70% -17.54% -3,821.20% 1,201.26% 2,896.75%
Net Income Growth		 276.60% -41.61% -14.66% -3.94% -89.98% -214.17% 181.64% -11.19% -7,923.00% 311.38% -69.61%
EPS Growth		 285.71% -40.00% -15.28% -2.94% -90.12% -214.29% 188.52% -10.61% -8,350.00% 316.67% -68.18%
Operating Cash Flow Growth		 263.58% 42.11% 42.44% 58.64% -14.21% 4.54% 2.36% -6.61% 28.34% 6.83% -0.86%
Free Cash Flow Firm Growth		 -73.70% -64.95% -38.78% -197.22% 166.85% 23.49% -21.05% 101.52% 103.08% 813.80% 1,943.19%
Invested Capital Growth		 1.08% -0.57% 0.66% 0.00% -1.43% -1.47% -0.71% -0.28% -11.57% -11.49% -12.68%
Revenue Q/Q Growth		 3.58% -2.25% 4.41% 0.00% 1.01% -1.44% 3.02% -8.77% 5.88% -1.81% 1.88%
EBITDA Q/Q Growth		 7.83% -40.51% 48.70% 0.00% -45.01% -76.69% 15.26% 574.89% -620.03% 116.81% 7.28%
EBIT Q/Q Growth		 9.55% -50.86% 71.37% 0.00% -54.02% -109.19% 79.25% 11,436.36% -735.69% 113.21% 8.41%
NOPAT Q/Q Growth		 18.37% -69.23% 187.29% 0.00% -85.26% -147.13% 60.40% 3,095.87% -765.42% 113.95% 0.58%
Net Income Q/Q Growth		 19.24% -74.55% 198.03% 0.00% -87.56% -390.00% 835.17% -66.51% -1,195.66% 107.84% 5.71%
EPS Q/Q Growth		 19.12% -74.07% 190.48% 0.00% -87.88% -400.00% 833.33% -66.48% -1,218.64% 107.88% 7.69%
Operating Cash Flow Q/Q Growth		 125.93% -5.65% 30.89% -43.14% 22.18% 14.97% 28.16% -48.13% 67.92% -4.30% 18.93%
Free Cash Flow Firm Q/Q Growth		 -99.39% 76.47% -22.82% 0.00% 101.69% -18.33% -50.66% 123.39% 125.59% 267.49% 10.32%
Invested Capital Q/Q Growth		 0.00% -1.11% 0.09% 0.00% -0.85% -1.15% 0.86% 0.88% -12.08% -1.05% -0.50%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 33.64% 34.02% 33.78% 34.99% 35.42% 34.25% 34.14% 34.41% 34.37% 31.91% 32.61%
EBITDA Margin		 23.98% 14.60% 20.79% 23.12% 12.58% 2.98% 3.33% 24.64% -121.00% 20.72% 21.81%
Operating Margin		 20.47% 9.94% 18.95% 20.31% 8.06% -1.58% -0.61% 19.94% -125.54% 16.43% 17.06%
EBIT Margin		 20.83% 10.47% 17.19% 19.58% 8.91% -0.83% -0.17% 20.79% -124.80% 16.79% 17.86%
Profit (Net Income) Margin		 14.85% 3.87% 11.04% 12.54% 1.54% -4.54% 32.42% 11.90% -123.16% 9.83% 10.20%
Tax Burden Percent		 85.15% 55.22% 79.68% 78.13% 28.74% 102.47% -895.80% 70.14% 95.79% 75.96% 72.24%
Interest Burden Percent		 83.71% 66.86% 80.58% 81.99% 60.31% 533.96% 2,163.64% 81.64% 103.03% 77.08% 79.03%
Effective Tax Rate		 14.85% 44.78% 20.32% 21.87% 71.26% 0.00% 0.00% 29.86% 0.00% 24.04% 27.76%
Return on Invested Capital (ROIC)		 6.85% 2.17% 5.88% 12.23% 0.89% -0.43% -0.16% 5.17% -34.55% 4.93% 4.82%
ROIC Less NNEP Spread (ROIC-NNEP)		 5.96% 1.62% 4.42% 10.01% 0.63% -1.57% 11.30% 4.52% -46.28% 4.05% 4.08%
Return on Net Nonoperating Assets (RNNOA)		 2.34% 0.63% 1.71% 3.87% 0.24% -0.61% 4.30% 1.74% -19.54% 1.67% 1.63%
Return on Equity (ROE)		 9.19% 2.80% 7.59% 16.11% 1.13% -1.04% 4.14% 6.91% -54.09% 6.61% 6.45%
Cash Return on Invested Capital (CROIC)		 4.43% 5.79% 4.58% -189.53% 5.22% 4.46% 8.61% 7.48% 4.76% 5.82% 8.41%
Operating Return on Assets (OROA)		 6.18% 3.15% 5.06% 5.76% 2.61% -0.24% -0.05% 5.86% -37.08% 4.96% 5.24%
Return on Assets (ROA)		 4.41% 1.16% 3.25% 3.69% 0.45% -1.33% 9.38% 3.35% -36.59% 2.91% 2.99%
Return on Common Equity (ROCE)		 9.15% 2.79% 7.56% 16.05% 1.13% -1.04% 4.13% 6.89% -53.93% 6.59% 6.43%
Return on Equity Simple (ROE_SIMPLE)		 6.34% 6.04% 0.00% 5.68% 3.92% 2.84% 0.00% 5.37% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1,172 361 1,036 1,017 150 -71 -28 839 -5,582 779 783
NOPAT Margin		 17.43% 5.49% 15.10% 15.87% 2.32% -1.11% -0.43% 13.98% -87.87% 12.48% 12.32%
Net Nonoperating Expense Percent (NNEP)		 0.89% 0.55% 1.46% 2.22% 0.26% 1.15% -11.46% 0.65% 11.73% 0.89% 0.74%
Return On Investment Capital (ROIC_SIMPLE)		 - - 1.49% - - - -0.04% 1.18% -8.90% 1.24% 1.24%
Cost of Revenue to Revenue		 66.36% 65.98% 66.22% 65.01% 64.58% 65.75% 65.86% 65.59% 65.63% 68.09% 67.39%
SG&A Expenses to Revenue		 13.17% 14.00% 14.83% 14.68% 14.18% 13.46% 13.66% 14.47% 14.03% 14.91% 15.47%
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		 13.17% 24.08% 14.83% 14.68% 27.36% 35.83% 34.75% 14.47% 159.90% 15.47% 15.55%
Earnings before Interest and Taxes (EBIT)		 1,400 688 1,179 1,255 577 -53 -11 1,247 -7,927 1,047 1,135
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,612 959 1,426 1,482 815 190 219 1,478 -7,686 1,292 1,386
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.83 0.80 0.87 0.91 0.80 0.88 0.75 0.73 0.73 0.74 0.69
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)		 1.54 1.45 1.62 1.70 1.49 1.64 1.44 1.42 1.20 1.23 1.15
Price to Earnings (P/E)		 13.17 13.21 15.16 16.05 20.36 31.22 13.52 13.61 0.00 0.00 0.00
Dividend Yield		 4.72% 4.98% 4.53% 4.34% 4.97% 4.52% 5.22% 5.29% 6.25% 6.14% 6.63%
Earnings Yield		 7.59% 7.57% 6.60% 6.23% 4.91% 3.20% 7.40% 7.35% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.88 0.85 0.91 0.93 0.85 0.91 0.82 0.80 0.81 0.82 0.78
Enterprise Value to Revenue (EV/Rev)		 2.25 2.15 2.33 2.42 2.22 2.36 2.16 2.17 1.94 1.95 1.85
Enterprise Value to EBITDA (EV/EBITDA)		 10.83 10.48 11.31 11.74 12.45 15.77 20.61 20.34 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 12.89 12.62 13.66 14.23 15.76 20.86 31.55 31.31 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 16.01 16.31 17.34 17.84 22.46 30.44 10.33 11.12 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 18.63 16.37 15.62 15.10 14.20 14.86 13.33 13.33 11.16 10.96 10.36
Enterprise Value to Free Cash Flow (EV/FCFF)		 19.91 14.69 19.84 0.00 16.24 20.35 9.47 10.70 16.03 13.23 8.61
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.40 0.40 0.40 0.41 0.41 0.41 0.40 0.44 0.51 0.51 0.51
Long-Term Debt to Equity		 0.39 0.39 0.39 0.40 0.39 0.40 0.39 0.42 0.47 0.46 0.46
Financial Leverage		 0.39 0.39 0.39 0.39 0.39 0.39 0.38 0.39 0.42 0.41 0.40
Leverage Ratio		 1.84 1.83 1.83 1.82 1.81 1.82 1.80 1.82 1.88 1.89 1.87
Compound Leverage Factor		 1.54 1.22 1.48 1.49 1.09 9.72 39.02 1.48 1.94 1.46 1.48
Debt to Total Capital		 28.56% 28.67% 28.72% 29.25% 28.90% 29.30% 28.71% 30.34% 33.83% 33.76% 33.68%
Short-Term Debt to Total Capital		 0.90% 0.88% 0.91% 0.89% 0.97% 1.03% 0.95% 0.95% 3.04% 3.03% 3.03%
Long-Term Debt to Total Capital		 27.66% 27.79% 27.80% 28.37% 27.93% 28.27% 27.77% 29.39% 30.79% 30.73% 30.65%
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		 0.29% 0.26% 0.28% 0.24% 0.20% 0.21% 0.20% 0.20% 0.21% 0.21% 0.20%
Common Equity to Total Capital		 71.15% 71.07% 71.00% 70.51% 70.90% 70.49% 71.08% 69.46% 65.96% 66.03% 66.12%
Debt to EBITDA		 3.56 3.56 3.65 3.75 4.26 5.13 7.34 7.97 -3.66 -4.52 -6.01
Net Debt to EBITDA		 3.39 3.37 3.39 3.45 4.07 4.81 6.85 6.95 -3.22 -3.85 -4.97
Long-Term Debt to EBITDA		 3.45 3.45 3.53 3.64 4.11 4.95 7.10 7.72 -3.33 -4.11 -5.47
Debt to NOPAT		 5.26 5.54 5.59 5.69 7.68 9.91 3.68 4.36 -4.38 -5.23 -6.49
Net Debt to NOPAT		 5.01 5.25 5.20 5.24 7.33 9.28 3.43 3.80 -3.85 -4.45 -5.37
Long-Term Debt to NOPAT		 5.10 5.38 5.41 5.52 7.42 9.56 3.56 4.22 -3.99 -4.76 -5.91
Altman Z-Score		 0.97 0.94 1.00 1.04 0.93 0.95 0.90 0.93 0.35 0.74 0.72
Noncontrolling Interest Sharing Ratio		 0.41% 0.39% 0.39% 0.33% 0.34% 0.33% 0.34% 0.31% 0.30% 0.30% 0.29%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.95 1.00 0.99 1.09 1.01 1.06 1.06 1.31 1.07 1.13 1.15
Quick Ratio		 0.38 0.40 0.44 0.51 0.41 0.45 0.48 0.70 0.57 0.61 0.68
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 429 757 584 -67,894 1,144 934 461 1,030 2,323 8,538 9,419
Operating Cash Flow to CapEx		 453.72% 382.29% 579.49% 262.24% 378.31% 462.82% 561.94% 302.52% 646.52% 676.61% 671.22%
Free Cash Flow to Firm to Interest Expense		 1.88 3.32 2.55 -300.41 5.00 4.06 2.03 4.50 9.68 35.57 39.58
Operating Cash Flow to Interest Expense		 4.82 4.54 5.92 3.41 4.11 4.71 6.11 3.14 5.04 4.82 5.78
Operating Cash Flow Less CapEx to Interest Expense		 3.75 3.36 4.90 2.11 3.03 3.69 5.03 2.10 4.26 4.11 4.92
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.30 0.30 0.29 0.29 0.29 0.29 0.29 0.28 0.30 0.30 0.29
Accounts Receivable Turnover		 12.37 12.38 12.59 11.99 11.97 12.21 12.14 11.37 11.24 11.35 11.33
Inventory Turnover		 5.11 4.67 4.88 4.89 4.66 4.47 4.83 4.64 4.66 4.51 5.08
Fixed Asset Turnover		 0.00 4.00 0.00 3.78 0.00 3.75 0.00 3.58 0.00 3.52 0.00
Accounts Payable Turnover		 3.97 3.93 3.74 3.96 3.83 3.79 3.83 3.90 3.79 3.65 3.92
Days Sales Outstanding (DSO)		 29.51 29.49 28.99 30.45 30.49 29.90 30.07 32.10 32.48 32.15 32.20
Days Inventory Outstanding (DIO)		 71.49 78.22 74.85 74.60 78.32 81.70 75.58 78.60 78.35 80.98 71.79
Days Payable Outstanding (DPO)		 91.90 92.99 97.62 92.18 95.26 96.28 95.32 93.67 96.43 99.94 93.22
Cash Conversion Cycle (CCC)		 9.11 14.72 6.22 12.87 13.54 15.32 10.34 17.03 14.39 13.19 10.77
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 69,319 68,547 68,612 68,911 68,325 67,542 68,123 68,720 60,420 59,783 59,487
Invested Capital Turnover		 0.39 0.40 0.39 0.77 0.38 0.38 0.38 0.37 0.39 0.40 0.39
Increase / (Decrease) in Invested Capital		 743 -396 452 68,911 -994 -1,005 -489 -191 -7,905 -7,759 -8,636
Enterprise Value (EV)		 60,841 58,476 62,103 64,344 58,295 61,713 55,772 55,097 49,092 49,020 46,231
Market Capitalization		 41,591 39,468 43,275 45,259 39,125 42,765 37,097 36,136 30,311 30,833 28,562
Book Value per Share		 $40.59 $40.12 $40.38 $40.78 $40.27 $39.97 $40.68 $41.39 $34.94 $35.02 $35.20
Tangible Book Value per Share		 ($19.44) ($19.01) ($19.06) ($19.08) ($18.90) ($18.54) ($16.20) ($16.27) ($15.76) ($15.43) ($15.24)
Total Capital		 70,011 69,336 69,754 70,233 68,965 68,560 69,194 71,208 62,703 62,771 63,008
Total Debt		 19,997 19,878 20,032 20,545 19,934 20,091 19,869 21,603 21,211 21,192 21,219
Total Long-Term Debt		 19,367 19,270 19,394 19,923 19,265 19,383 19,215 20,925 19,307 19,287 19,311
Net Debt		 19,050 18,826 18,632 18,919 19,034 18,807 18,535 18,816 18,647 18,058 17,544
Capital Expenditures (CapEx)		 242 271 234 294 249 234 247 238 187 171 205
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -708 -410 -870 -342 -187 -102 -278 114 -43 -104 -418
Debt-free Net Working Capital (DFNWC)		 239 642 530 1,284 713 1,182 1,056 2,901 2,521 3,030 3,257
Net Working Capital (NWC)		 -391 34 -108 662 44 474 402 2,223 617 1,125 1,349
Net Nonoperating Expense (NNE)		 174 107 279 213 50 219 -2,160 125 2,241 166 135
Net Nonoperating Obligations (NNO)		 19,305 19,089 18,890 19,223 19,294 19,073 18,798 19,115 18,928 18,204 17,698
Total Depreciation and Amortization (D&A)		 212 271 247 227 238 243 230 231 241 245 251
Debt-free, Cash-free Net Working Capital to Revenue		 -2.61% -1.51% -3.27% -1.29% -0.71% -0.39% -1.08% 0.45% -0.17% -0.41% -1.68%
Debt-free Net Working Capital to Revenue		 0.88% 2.36% 1.99% 4.83% 2.71% 4.52% 4.09% 11.41% 9.96% 12.04% 13.06%
Net Working Capital to Revenue		 -1.44% 0.13% -0.41% 2.49% 0.17% 1.81% 1.56% 8.74% 2.44% 4.47% 5.41%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.81 $0.21 $0.63 $0.66 $0.08 ($0.24) $1.77 $0.60 ($6.60) $0.52 $0.55
Adjusted Weighted Average Basic Shares Outstanding		 1.23B 1.23B 1.21B 1.21B 1.21B 1.21B 1.19B 1.18B 1.18B 1.18B 1.18B
Adjusted Diluted Earnings per Share		 $0.81 $0.21 $0.61 $0.66 $0.08 ($0.24) $1.76 $0.59 ($6.60) $0.52 $0.56
Adjusted Weighted Average Diluted Shares Outstanding		 1.23B 1.23B 1.21B 1.21B 1.21B 1.21B 1.19B 1.18B 1.18B 1.18B 1.18B
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		 1.23B 1.23B 1.21B 1.21B 1.21B 1.21B 1.19B 1.18B 1.18B 1.18B 1.18B
Normalized Net Operating Profit after Tax (NOPAT)		 1,172 726 1,036 1,017 963 929 -28 839 904 805 783
Normalized NOPAT Margin		 17.43% 11.05% 15.10% 15.87% 14.87% 14.55% -0.43% 13.98% 14.24% 12.91% 12.32%
Pre Tax Income Margin		 17.44% 7.00% 13.85% 16.05% 5.37% -4.43% -3.62% 16.97% -128.57% 12.94% 14.12%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.14 3.02 5.15 5.55 2.52 -0.23 -0.05 5.45 -33.03 4.36 4.77
NOPAT to Interest Expense		 5.14 1.58 4.52 4.50 0.66 -0.31 -0.12 3.66 -23.26 3.24 3.29
EBIT Less CapEx to Interest Expense		 5.08 1.83 4.13 4.25 1.43 -1.25 -1.14 4.41 -33.81 3.65 3.91
NOPAT Less CapEx to Interest Expense		 4.08 0.39 3.50 3.20 -0.43 -1.32 -1.21 2.62 -24.04 2.53 2.43
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 62.15% 65.99% 69.04% 69.68% 101.93% 141.72% 70.32% 72.36% -36.32% -43.61% -32.46%
Augmented Payout Ratio		 62.15% 65.99% 85.03% 96.77% 151.75% 203.21% 106.30% 105.65% -53.14% -63.89% -39.91%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, four-year trend snapshot of Kraft Heinz Co (KHC) based on the quarterly statements you provided. The focus is on identifying notable shifts in cash flow, profitability, and leverage for retail investors.

  • Strong 2025 operating cash generation: Net cash from continuing operating activities was about $1.38B in Q4 2025, $1.16B in Q3 2025, $1.21B in Q2 2025, and $0.65B in Q1 2025, indicating solid cash generation from core operations.
  • Gross margins remained around the 32% level: Q4 2025 gross margin was roughly 32.6% (2.072B gross profit on 6.354B revenue), a level broadly in line with recent years and indicative of stable product profitability.
  • Earnings per share shown at a positive quarterly level in Q4 2025: Basic EPS of $0.55 and Diluted EPS of $0.56 in Q4 2025 suggest quarterly earnings power returning at the per-share level.
  • Long-term debt remained in a stable range: Long-term debt hovered around $19.2B through 2025, indicating a relatively stable leverage profile and easing near-term refinancing risk.
  • 2025 revenue lower versus 2024: Q4 revenue was $6.354B in 2025 versus $6.576B in Q4 2024 (roughly a mid-single-digit year-over-year decline), signaling topline pressure despite other cash-flow improvements.
  • Earnings show volatility across quarters: Net income to common shareholders was positive in Q4 2025 ($651M) and Q3 2025 ($615M) but was heavily negative in Q2 2025 (a large loss), indicating earnings volatility within the year.
  • Investing cash flows remain net use of cash: Net cash from investing activities was negative in 2025 (e.g., about -$223M in Q4 2025 and -$262M in Q3 2025), reflecting ongoing capital expenditure and investment activity.
  • Impairment charges weighed on 2025 results: An impairment expense around $9.27B occurred in 2025 Q2, contributing to earnings pressure and influencing quarterly comparability.
  • Financing activity remains a cash outflow driver: Net cash from financing activities was negative in Q4 2025 (about -$488M) and similarly weak in Q3 2025, driven by dividends and debt management actions.
  • High liability base vs. equity: By mid-2025, total liabilities were in the ~$40B range, indicating a sizable leverage position relative to equity and signaling ongoing balance-sheet risk to monitor.
05/06/26 05:33 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Kraft Heinz's Financials

When does Kraft Heinz's fiscal year end?

According to the most recent income statement we have on file, Kraft Heinz's financial year ends in December. Their financial year 2025 ended on December 27, 2025.

How has Kraft Heinz's net income changed over the last 10 years?

Kraft Heinz's net income appears to be on a downward trend, with a most recent value of -$5.85 billion in 2025, falling from $647 million in 2015. The previous period was $2.75 billion in 2024. Find out what analysts predict for Kraft Heinz in the coming months.

What is Kraft Heinz's operating income?
Kraft Heinz's total operating income in 2025 was -$4.67 billion, based on the following breakdown:
  • Total Gross Profit: $8.31 billion
  • Total Operating Expenses: $12.98 billion
How has Kraft Heinz's revenue changed over the last 10 years?

Over the last 10 years, Kraft Heinz's total revenue changed from $18.34 billion in 2015 to $24.94 billion in 2025, a change of 36.0%.

How much debt does Kraft Heinz have?

Kraft Heinz's total liabilities were at $40.00 billion at the end of 2025, a 2.7% increase from 2024, and a 29.5% decrease since 2015.

How much cash does Kraft Heinz have?

In the past 10 years, Kraft Heinz's cash and equivalents has ranged from $1.04 billion in 2022 to $4.84 billion in 2015, and is currently $2.62 billion as of their latest financial filing in 2025.

How has Kraft Heinz's book value per share changed over the last 10 years?

Over the last 10 years, Kraft Heinz's book value per share changed from 47.54 in 2015 to 35.20 in 2025, a change of -26.0%.


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Financial statements for NASDAQ:KHC last updated on 2/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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