Kraft Heinz (KHC) Financials

$23.85 +0.06 (+0.25%)

As of 05/26/2026 04:00 PM Eastern

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

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	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	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	3/28/2026
Net Income / (Loss) Attributable to Common Shareholders	262	757	801	102	-290	2,131	712	-7,824	615	651	798
Consolidated Net Income / (Loss)	254	757	804	100	-290	2,132	714	-7,823	613	648	799
Net Income / (Loss) Continuing Operations	254	757	804	100	-290	2,132	714	-7,823	613	648	799
Total Pre-Tax Income	460	950	1,029	348	-283	-238	1,018	-8,167	807	897	1,010
Total Operating Income	653	1,300	1,302	522	-101	-40	1,196	-7,974	1,025	1,084	1,145
Total Gross Profit	2,235	2,317	2,243	2,294	2,186	2,245	2,064	2,183	1,990	2,072	2,219
Total Revenue	6,570	6,860	6,411	6,476	6,383	6,576	5,999	6,352	6,237	6,354	6,047
Operating Revenue	6,570	6,860	6,411	6,476	6,383	6,576	5,999	6,352	6,237	6,354	6,047
Total Cost of Revenue	4,335	4,543	4,168	4,182	4,197	4,331	3,935	4,169	4,247	4,282	3,828
Operating Cost of Revenue	4,335	4,543	4,168	4,182	4,197	4,331	3,935	4,169	4,247	4,282	3,828
Total Operating Expenses	1,582	1,017	941	1,772	2,287	2,285	868	10,157	965	988	1,074
Selling, General & Admin Expense	920	1,017	941	918	859	898	868	891	930	983	1,061
Impairment Charge	662	-	-	854	1,428	-	0.00	9,266	35	-	13
Total Other Income / (Expense), net	-193	-350	-273	-174	-182	-198	-178	-193	-218	-187	-135
Interest Expense	228	229	226	229	230	227	229	240	240	238	236
Other Income / (Expense), net	35	-121	-47	55	48	29	51	47	22	51	101
Income Tax Expense	206	193	225	248	7.00	-2,370	304	-344	194	249	211
Net Income / (Loss) Attributable to Noncontrolling Interest	-8.00	-	3.00	-2.00	0.00	1.00	2.00	1.00	-2.00	-3.00	1.00
Basic Earnings per Share	$0.21	$0.63	$0.66	$0.08	($0.24)	$1.77	$0.60	($6.60)	$0.52	$0.55	$0.67
Weighted Average Basic Shares Outstanding	1.23B	1.21B	1.21B	1.21B	1.21B	1.19B	1.18B	1.18B	1.18B	1.18B	1.19B
Diluted Earnings per Share	$0.21	$0.61	$0.66	$0.08	($0.24)	$1.76	$0.59	($6.60)	$0.52	$0.56	$0.67
Weighted Average Diluted Shares Outstanding	1.23B	1.21B	1.21B	1.21B	1.21B	1.19B	1.18B	1.18B	1.18B	1.18B	1.19B
Weighted Average Basic & Diluted Shares Outstanding	1.23B	1.21B	1.21B	1.21B	1.21B	1.19B	1.18B	1.18B	1.18B	1.18B	1.19B
Cash Dividends to Common per Share	$0.40	-	$0.40	$0.40	-	-	$0.40	$0.40	-	-	$0.40

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

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	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	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	3/28/2026
Net Change in Cash & Equivalents	105	350	224	-726	386	269	777	-551	539	693	672
Net Cash From Operating Activities	1,036	1,356	771	942	1,083	1,388	720	1,209	1,157	1,376	1,006
Net Cash From Continuing Operating Activities	1,050	1,350	768	938	1,071	1,394	720	1,209	1,157	1,376	1,006
Net Income / (Loss) Continuing Operations	254	757	804	100	-290	2,132	714	-7,823	613	648	799
Consolidated Net Income / (Loss)	254	757	804	100	-290	2,132	714	-7,823	613	648	799
Depreciation Expense	274	251	230	239	245	234	231	241	245	251	245
Non-Cash Adjustments To Reconcile Net Income	697	17	93	819	1,495	1,573	24	9,282	85	219	27
Changes in Operating Assets and Liabilities, net	-172	329	-359	-219	-377	-2,541	-249	-491	214	258	-65
Net Cash From Investing Activities	-263	-178	-287	-345	-217	-174	-878	-470	-262	-223	185
Net Cash From Continuing Investing Activities	-263	-178	-287	-345	-217	-174	-878	-470	-262	-223	185
Purchase of Property, Plant & Equipment	-271	-234	-294	-249	-234	-247	-238	-187	-171	-205	-240
Purchase of Investments	-	-	0.00	-	-	-	-673	-360	-325	-366	-105
Divestitures	-	-	-3.00	6.00	2.00	3.00	9.00	-	-	-	146
Sale and/or Maturity of Investments	-	-	-	-	-	-	0.00	-	309	332	387
Other Investing Activities, net	8.00	25	10	38	15	-5.00	24	32	-75	16	-3.00
Net Cash From Financing Activities	-629	-862	-239	-1,326	-481	-962	900	-1,323	-340	-488	-512
Net Cash From Continuing Financing Activities	-629	-862	-239	-1,326	-481	-962	900	-1,323	-340	-488	-512
Repayment of Debt	-25	-216	-17	-635	2.00	-33	-18	-639	133	-13	-15
Repurchase of Common Equity	-112	-305	-329	-208	-1.00	-450	-225	-210	-	-1.00	-23
Payment of Dividends	-492	-491	-486	-483	-483	-479	-477	-474	-473	-474	-474
Issuance of Debt	-	150	593	-	1.00	-	1,620	-	-	-	0.00
Effect of Exchange Rate Changes	-	-	-21	3.00	1.00	-	35	33	-16	28	-7.00

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	7,318
Total Noncurrent Assets	106,669	105,039	105,830	87,308	93,353	89,008	84,400	82,616	82,410	73,480	64,341
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	4,633
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

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
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	3/28/2026
Total Assets	90,956	89,656	90,339	90,309	88,797	88,566	88,287	90,274	81,581	81,695	82,046
Total Current Assets	7,994	7,838	7,929	8,233	7,530	8,202	7,655	9,458	9,241	9,988	10,681
Cash & Equivalents	947	1,052	1,400	1,626	900	1,284	1,334	2,113	1,567	2,114	3,308
Short-Term Investments	-	-	-	-	-	-	-	674	997	1,020	783
Accounts Receivable	2,237	2,103	2,112	2,216	2,160	2,178	2,147	2,257	2,344	2,255	2,306
Inventories, net	3,820	3,779	3,614	3,578	3,573	3,872	3,376	3,591	3,567	3,530	3,310
Prepaid Expenses	296	245	234	292	273	228	215	271	258	281	270
Other Current Assets	691	654	569	521	624	633	583	552	508	640	704
Other Current Nonoperating Assets	3.00	5.00	-	0.00	0.00	7.00	-	-	-	148	0.00
Plant, Property, & Equipment, net	0.00	6,813	0.00	7,036	0.00	7,137	0.00	7,157	7,251	7,144	7,233
Total Noncurrent Assets	82,962	75,005	82,410	75,040	81,267	73,227	80,632	73,659	65,089	64,563	64,132
Goodwill	30,953	30,310	30,459	30,390	29,501	28,946	28,673	28,753	22,226	22,167	22,153
Intangible Assets	42,714	42,314	42,448	42,296	42,347	41,802	40,099	40,147	37,782	37,545	37,387
Other Noncurrent Operating Assets	9,295	2,381	9,503	2,354	9,419	2,479	11,860	4,759	5,081	4,851	4,592
Total Liabilities & Shareholders' Equity	90,956	89,656	90,339	90,309	88,797	88,566	88,287	90,274	81,581	81,695	82,046
Total Liabilities	40,942	40,198	40,617	40,621	39,766	40,097	38,962	40,669	40,089	40,116	39,997
Total Current Liabilities	8,385	7,804	8,037	7,571	7,486	7,728	7,253	7,235	8,624	8,863	8,938
Short-Term Debt	630	608	638	622	669	708	654	678	1,904	1,905	1,910
Accounts Payable	4,545	4,463	4,627	4,421	4,448	4,553	4,188	4,122	4,340	4,582	4,390
Accrued Expenses	843	793	733	749	724	752	697	694	749	711	936
Other Current Liabilities	2,109	1,672	1,781	1,475	1,385	1,442	1,451	1,442	1,350	1,371	1,408
Other Current Nonoperating Liabilities	258	268	258	304	260	273	263	299	281	294	294
Total Noncurrent Liabilities	32,557	32,394	32,580	33,050	32,280	32,369	31,709	33,434	31,465	31,253	31,059
Long-Term Debt	19,367	19,270	19,394	19,923	19,265	19,383	19,215	20,925	19,307	19,287	19,223
Noncurrent Deferred Revenue	1,451	1,436	1,424	1,414	1,400	1,386	1,374	1,361	1,348	1,331	1,308
Noncurrent Deferred & Payable Income Tax Liabilities	10,149	10,132	10,201	10,220	10,173	10,023	9,679	9,716	9,103	9,103	9,050
Noncurrent Employee Benefit Liabilities	148	143	143	140	137	140	135	134	139	136	131
Other Noncurrent Operating Liabilities	1,442	1,413	1,418	1,353	1,305	1,437	1,306	1,298	1,568	1,396	1,347
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	24	34	35	10	6.00	6.00	7.00	7.00	7.00	13
Total Equity & Noncontrolling Interests	49,974	49,434	49,688	49,653	49,021	48,463	49,319	49,598	41,485	41,572	42,036
Total Preferred & Common Equity	49,814	49,276	49,526	49,522	48,895	48,328	49,185	49,460	41,358	41,450	41,923
Total Common Equity	49,814	49,276	49,526	49,522	48,895	48,328	49,185	49,460	41,358	41,450	41,923
Common Stock	51,979	52,016	52,049	52,062	52,098	52,118	52,147	52,181	52,208	51,750	50,850
Retained Earnings	1,336	1,104	1,367	1,680	1,297	521	2,171	2,404	-5,895	-5,280	-3,831
Treasury Stock	-870	-981	-1,286	-1,551	-1,762	-1,764	-2,218	-2,432	-2,636	-2,636	-2,648
Accumulated Other Comprehensive Income / (Loss)	-2,631	-2,863	-2,604	-2,669	-2,738	-2,547	-2,915	-2,693	-2,319	-2,384	-2,448
Noncontrolling Interest	160	158	162	131	126	135	134	138	127	122	113

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%

This table displays calculated financial ratios and metrics derived from Kraft Heinz'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	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	3/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,183,744,751.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1,183,744,751.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.67
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.00%	-7.06%	-1.20%	-3.65%	-2.85%	-4.14%	-6.43%	-1.91%	-2.29%	-3.38%	0.80%
EBITDA Growth	-3.91%	-5.75%	-0.87%	-49.44%	-80.19%	-84.64%	-0.47%	-1,041.91%	572.92%	521.52%	0.88%
EBIT Growth	-11.00%	-7.02%	-1.80%	-58.79%	-107.70%	-100.93%	-0.64%	-1,473.83%	2,075.47%	10,418.18%	-0.08%
NOPAT Growth	-39.85%	0.12%	2.77%	-87.20%	-119.61%	-102.70%	-17.54%	-3,821.20%	1,201.26%	2,896.75%	7.98%
Net Income Growth	-41.61%	-14.66%	-3.94%	-89.98%	-214.17%	181.64%	-11.19%	-7,923.00%	311.38%	-69.61%	11.90%
EPS Growth	-40.00%	-15.28%	-2.94%	-90.12%	-214.29%	188.52%	-10.61%	-8,350.00%	316.67%	-68.18%	13.56%
Operating Cash Flow Growth	42.11%	42.44%	58.64%	-14.21%	4.54%	2.36%	-6.61%	28.34%	6.83%	-0.86%	39.72%
Free Cash Flow Firm Growth	-64.95%	-38.78%	-197.22%	166.85%	23.49%	-21.05%	101.52%	103.08%	813.80%	1,943.19%	894.40%
Invested Capital Growth	-0.57%	0.66%	0.00%	-1.43%	-1.47%	-0.71%	-0.28%	-11.57%	-11.49%	-12.68%	-13.58%
Revenue Q/Q Growth	-2.25%	4.41%	0.00%	1.01%	-1.44%	3.02%	-8.77%	5.88%	-1.81%	1.88%	-4.83%
EBITDA Q/Q Growth	-40.51%	48.70%	0.00%	-45.01%	-76.69%	15.26%	574.89%	-620.03%	116.81%	7.28%	7.58%
EBIT Q/Q Growth	-50.86%	71.37%	0.00%	-54.02%	-109.19%	79.25%	11,436.36%	-735.69%	113.21%	8.41%	9.78%
NOPAT Q/Q Growth	-69.23%	187.29%	0.00%	-85.26%	-147.13%	60.40%	3,095.87%	-765.42%	113.95%	0.58%	15.67%
Net Income Q/Q Growth	-74.55%	198.03%	0.00%	-87.56%	-390.00%	835.17%	-66.51%	-1,195.66%	107.84%	5.71%	23.30%
EPS Q/Q Growth	-74.07%	190.48%	0.00%	-87.88%	-400.00%	833.33%	-66.48%	-1,218.64%	107.88%	7.69%	19.64%
Operating Cash Flow Q/Q Growth	-5.65%	30.89%	-43.14%	22.18%	14.97%	28.16%	-48.13%	67.92%	-4.30%	18.93%	-26.89%
Free Cash Flow Firm Q/Q Growth	76.47%	-22.82%	0.00%	101.69%	-18.33%	-50.66%	123.39%	125.59%	267.49%	10.32%	8.72%
Invested Capital Q/Q Growth	-1.11%	0.09%	0.00%	-0.85%	-1.15%	0.86%	0.88%	-12.08%	-1.05%	-0.50%	-0.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.02%	33.78%	34.99%	35.42%	34.25%	34.14%	34.41%	34.37%	31.91%	32.61%	36.70%
EBITDA Margin	14.60%	20.79%	23.12%	12.58%	2.98%	3.33%	24.64%	-121.00%	20.72%	21.81%	24.66%
Operating Margin	9.94%	18.95%	20.31%	8.06%	-1.58%	-0.61%	19.94%	-125.54%	16.43%	17.06%	18.94%
EBIT Margin	10.47%	17.19%	19.58%	8.91%	-0.83%	-0.17%	20.79%	-124.80%	16.79%	17.86%	20.61%
Profit (Net Income) Margin	3.87%	11.04%	12.54%	1.54%	-4.54%	32.42%	11.90%	-123.16%	9.83%	10.20%	13.21%
Tax Burden Percent	55.22%	79.68%	78.13%	28.74%	102.47%	-895.80%	70.14%	95.79%	75.96%	72.24%	79.11%
Interest Burden Percent	66.86%	80.58%	81.99%	60.31%	533.96%	2,163.64%	81.64%	103.03%	77.08%	79.03%	81.06%
Effective Tax Rate	44.78%	20.32%	21.87%	71.26%	0.00%	0.00%	29.86%	0.00%	24.04%	27.76%	20.89%
Return on Invested Capital (ROIC)	2.17%	5.88%	12.23%	0.89%	-0.43%	-0.16%	5.17%	-34.55%	4.93%	4.82%	5.84%
ROIC Less NNEP Spread (ROIC-NNEP)	1.62%	4.42%	10.01%	0.63%	-1.57%	11.30%	4.52%	-46.28%	4.05%	4.08%	5.26%
Return on Net Nonoperating Assets (RNNOA)	0.63%	1.71%	3.87%	0.24%	-0.61%	4.30%	1.74%	-19.54%	1.67%	1.63%	2.09%
Return on Equity (ROE)	2.80%	7.59%	16.11%	1.13%	-1.04%	4.14%	6.91%	-54.09%	6.61%	6.45%	7.94%
Cash Return on Invested Capital (CROIC)	5.79%	4.58%	-189.53%	5.22%	4.46%	8.61%	7.48%	4.76%	5.82%	8.41%	9.42%
Operating Return on Assets (OROA)	3.15%	5.06%	5.76%	2.61%	-0.24%	-0.05%	5.86%	-37.08%	4.96%	5.24%	5.98%
Return on Assets (ROA)	1.16%	3.25%	3.69%	0.45%	-1.33%	9.38%	3.35%	-36.59%	2.91%	2.99%	3.83%
Return on Common Equity (ROCE)	2.79%	7.56%	16.05%	1.13%	-1.04%	4.13%	6.89%	-53.93%	6.59%	6.43%	7.91%
Return on Equity Simple (ROE_SIMPLE)	6.04%	0.00%	5.68%	3.92%	2.84%	0.00%	5.37%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	361	1,036	1,017	150	-71	-28	839	-5,582	779	783	906
NOPAT Margin	5.49%	15.10%	15.87%	2.32%	-1.11%	-0.43%	13.98%	-87.87%	12.48%	12.32%	14.98%
Net Nonoperating Expense Percent (NNEP)	0.55%	1.46%	2.22%	0.26%	1.15%	-11.46%	0.65%	11.73%	0.89%	0.74%	0.59%
Return On Investment Capital (ROIC_SIMPLE)	-	1.49%	-	-	-	-0.04%	1.18%	-8.90%	1.24%	1.24%	1.43%
Cost of Revenue to Revenue	65.98%	66.22%	65.01%	64.58%	65.75%	65.86%	65.59%	65.63%	68.09%	67.39%	63.30%
SG&A Expenses to Revenue	14.00%	14.83%	14.68%	14.18%	13.46%	13.66%	14.47%	14.03%	14.91%	15.47%	17.55%
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	24.08%	14.83%	14.68%	27.36%	35.83%	34.75%	14.47%	159.90%	15.47%	15.55%	17.76%
Earnings before Interest and Taxes (EBIT)	688	1,179	1,255	577	-53	-11	1,247	-7,927	1,047	1,135	1,246
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	959	1,426	1,482	815	190	219	1,478	-7,686	1,292	1,386	1,491
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.80	0.87	0.91	0.80	0.88	0.75	0.73	0.73	0.74	0.69	0.62
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)	1.45	1.62	1.70	1.49	1.64	1.44	1.42	1.20	1.23	1.15	1.04
Price to Earnings (P/E)	13.21	15.16	16.05	20.36	31.22	13.52	13.61	0.00	0.00	0.00	0.00
Dividend Yield	4.98%	4.53%	4.34%	4.97%	4.52%	5.22%	5.29%	6.25%	6.14%	6.63%	7.26%
Earnings Yield	7.57%	6.60%	6.23%	4.91%	3.20%	7.40%	7.35%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.85	0.91	0.93	0.85	0.91	0.82	0.80	0.81	0.82	0.78	0.73
Enterprise Value to Revenue (EV/Rev)	2.15	2.33	2.42	2.22	2.36	2.16	2.17	1.94	1.95	1.85	1.73
Enterprise Value to EBITDA (EV/EBITDA)	10.48	11.31	11.74	12.45	15.77	20.61	20.34	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	12.62	13.66	14.23	15.76	20.86	31.55	31.31	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	16.31	17.34	17.84	22.46	30.44	10.33	11.12	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	16.37	15.62	15.10	14.20	14.86	13.33	13.33	11.16	10.96	10.36	9.11
Enterprise Value to Free Cash Flow (EV/FCFF)	14.69	19.84	0.00	16.24	20.35	9.47	10.70	16.03	13.23	8.61	7.17
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.40	0.40	0.41	0.41	0.41	0.40	0.44	0.51	0.51	0.51	0.50
Long-Term Debt to Equity	0.39	0.39	0.40	0.39	0.40	0.39	0.42	0.47	0.46	0.46	0.46
Financial Leverage	0.39	0.39	0.39	0.39	0.39	0.38	0.39	0.42	0.41	0.40	0.40
Leverage Ratio	1.83	1.83	1.82	1.81	1.82	1.80	1.82	1.88	1.89	1.87	1.88
Compound Leverage Factor	1.22	1.48	1.49	1.09	9.72	39.02	1.48	1.94	1.46	1.48	1.52
Debt to Total Capital	28.67%	28.72%	29.25%	28.90%	29.30%	28.71%	30.34%	33.83%	33.76%	33.68%	33.45%
Short-Term Debt to Total Capital	0.88%	0.91%	0.89%	0.97%	1.03%	0.95%	0.95%	3.04%	3.03%	3.03%	3.02%
Long-Term Debt to Total Capital	27.79%	27.80%	28.37%	27.93%	28.27%	27.77%	29.39%	30.79%	30.73%	30.65%	30.42%
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	0.26%	0.28%	0.24%	0.20%	0.21%	0.20%	0.20%	0.21%	0.21%	0.20%	0.20%
Common Equity to Total Capital	71.07%	71.00%	70.51%	70.90%	70.49%	71.08%	69.46%	65.96%	66.03%	66.12%	66.35%
Debt to EBITDA	3.56	3.65	3.75	4.26	5.13	7.34	7.97	-3.66	-4.52	-6.01	-6.01
Net Debt to EBITDA	3.37	3.39	3.45	4.07	4.81	6.85	6.95	-3.22	-3.85	-4.97	-4.85
Long-Term Debt to EBITDA	3.45	3.53	3.64	4.11	4.95	7.10	7.72	-3.33	-4.11	-5.47	-5.47
Debt to NOPAT	5.54	5.59	5.69	7.68	9.91	3.68	4.36	-4.38	-5.23	-6.49	-6.40
Net Debt to NOPAT	5.25	5.20	5.24	7.33	9.28	3.43	3.80	-3.85	-4.45	-5.37	-5.16
Long-Term Debt to NOPAT	5.38	5.41	5.52	7.42	9.56	3.56	4.22	-3.99	-4.76	-5.91	-5.82
Altman Z-Score	0.94	1.00	1.04	0.93	0.95	0.90	0.93	0.35	0.74	0.72	0.71
Noncontrolling Interest Sharing Ratio	0.39%	0.39%	0.33%	0.34%	0.33%	0.34%	0.31%	0.30%	0.30%	0.29%	0.30%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.00	0.99	1.09	1.01	1.06	1.06	1.31	1.07	1.13	1.15	1.20
Quick Ratio	0.40	0.44	0.51	0.41	0.45	0.48	0.70	0.57	0.61	0.68	0.72
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	757	584	-67,894	1,144	934	461	1,030	2,323	8,538	9,419	10,241
Operating Cash Flow to CapEx	382.29%	579.49%	262.24%	378.31%	462.82%	561.94%	302.52%	646.52%	676.61%	671.22%	419.17%
Free Cash Flow to Firm to Interest Expense	3.32	2.55	-300.41	5.00	4.06	2.03	4.50	9.68	35.57	39.58	43.39
Operating Cash Flow to Interest Expense	4.54	5.92	3.41	4.11	4.71	6.11	3.14	5.04	4.82	5.78	4.26
Operating Cash Flow Less CapEx to Interest Expense	3.36	4.90	2.11	3.03	3.69	5.03	2.10	4.26	4.11	4.92	3.25
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.30	0.29	0.29	0.29	0.29	0.29	0.28	0.30	0.30	0.29	0.29
Accounts Receivable Turnover	12.38	12.59	11.99	11.97	12.21	12.14	11.37	11.24	11.35	11.33	10.95
Inventory Turnover	4.67	4.88	4.89	4.66	4.47	4.83	4.64	4.66	4.51	5.08	4.79
Fixed Asset Turnover	4.00	0.00	3.78	0.00	3.75	0.00	3.58	0.00	3.52	0.00	3.47
Accounts Payable Turnover	3.93	3.74	3.96	3.83	3.79	3.83	3.90	3.79	3.65	3.92	3.88
Days Sales Outstanding (DSO)	29.49	28.99	30.45	30.49	29.90	30.07	32.10	32.48	32.15	32.20	33.32
Days Inventory Outstanding (DIO)	78.22	74.85	74.60	78.32	81.70	75.58	78.60	78.35	80.98	71.79	76.21
Days Payable Outstanding (DPO)	92.99	97.62	92.18	95.26	96.28	95.32	93.67	96.43	99.94	93.22	94.00
Cash Conversion Cycle (CCC)	14.72	6.22	12.87	13.54	15.32	10.34	17.03	14.39	13.19	10.77	15.53
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	68,547	68,612	68,911	68,325	67,542	68,123	68,720	60,420	59,783	59,487	59,385
Invested Capital Turnover	0.40	0.39	0.77	0.38	0.38	0.38	0.37	0.39	0.40	0.39	0.39
Increase / (Decrease) in Invested Capital	-396	452	68,911	-994	-1,005	-489	-191	-7,905	-7,759	-8,636	-9,335
Enterprise Value (EV)	58,476	62,103	64,344	58,295	61,713	55,772	55,097	49,092	49,020	46,231	43,258
Market Capitalization	39,468	43,275	45,259	39,125	42,765	37,097	36,136	30,311	30,833	28,562	26,090
Book Value per Share	$40.12	$40.38	$40.78	$40.27	$39.97	$40.68	$41.39	$34.94	$35.02	$35.20	$35.42
Tangible Book Value per Share	($19.01)	($19.06)	($19.08)	($18.90)	($18.54)	($16.20)	($16.27)	($15.76)	($15.43)	($15.24)	($14.88)
Total Capital	69,336	69,754	70,233	68,965	68,560	69,194	71,208	62,703	62,771	63,008	63,182
Total Debt	19,878	20,032	20,545	19,934	20,091	19,869	21,603	21,211	21,192	21,219	21,133
Total Long-Term Debt	19,270	19,394	19,923	19,265	19,383	19,215	20,925	19,307	19,287	19,311	19,223
Net Debt	18,826	18,632	18,919	19,034	18,807	18,535	18,816	18,647	18,058	17,544	17,042
Capital Expenditures (CapEx)	271	234	294	249	234	247	238	187	171	205	240
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-410	-870	-342	-187	-102	-278	114	-43	-104	-418	-438
Debt-free Net Working Capital (DFNWC)	642	530	1,284	713	1,182	1,056	2,901	2,521	3,030	3,257	3,653
Net Working Capital (NWC)	34	-108	662	44	474	402	2,223	617	1,125	1,349	1,743
Net Nonoperating Expense (NNE)	107	279	213	50	219	-2,160	125	2,241	166	135	107
Net Nonoperating Obligations (NNO)	19,089	18,890	19,223	19,294	19,073	18,798	19,115	18,928	18,204	17,698	17,336
Total Depreciation and Amortization (D&A)	271	247	227	238	243	230	231	241	245	251	245
Debt-free, Cash-free Net Working Capital to Revenue	-1.51%	-3.27%	-1.29%	-0.71%	-0.39%	-1.08%	0.45%	-0.17%	-0.41%	-1.68%	-1.75%
Debt-free Net Working Capital to Revenue	2.36%	1.99%	4.83%	2.71%	4.52%	4.09%	11.41%	9.96%	12.04%	13.06%	14.62%
Net Working Capital to Revenue	0.13%	-0.41%	2.49%	0.17%	1.81%	1.56%	8.74%	2.44%	4.47%	5.41%	6.97%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.21	$0.63	$0.66	$0.08	($0.24)	$1.77	$0.60	($6.60)	$0.52	$0.55	$0.67
Adjusted Weighted Average Basic Shares Outstanding	1.23B	1.21B	1.21B	1.21B	1.21B	1.19B	1.18B	1.18B	1.18B	1.18B	1.19B
Adjusted Diluted Earnings per Share	$0.21	$0.61	$0.66	$0.08	($0.24)	$1.76	$0.59	($6.60)	$0.52	$0.56	$0.67
Adjusted Weighted Average Diluted Shares Outstanding	1.23B	1.21B	1.21B	1.21B	1.21B	1.19B	1.18B	1.18B	1.18B	1.18B	1.19B
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	1.21B	1.21B	1.21B	1.21B	1.19B	1.18B	1.18B	1.18B	1.18B	1.19B
Normalized Net Operating Profit after Tax (NOPAT)	726	1,036	1,017	963	929	-28	839	904	805	783	916
Normalized NOPAT Margin	11.05%	15.10%	15.87%	14.87%	14.55%	-0.43%	13.98%	14.24%	12.91%	12.32%	15.15%
Pre Tax Income Margin	7.00%	13.85%	16.05%	5.37%	-4.43%	-3.62%	16.97%	-128.57%	12.94%	14.12%	16.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.02	5.15	5.55	2.52	-0.23	-0.05	5.45	-33.03	4.36	4.77	5.28
NOPAT to Interest Expense	1.58	4.52	4.50	0.66	-0.31	-0.12	3.66	-23.26	3.24	3.29	3.84
EBIT Less CapEx to Interest Expense	1.83	4.13	4.25	1.43	-1.25	-1.14	4.41	-33.81	3.65	3.91	4.26
NOPAT Less CapEx to Interest Expense	0.39	3.50	3.20	-0.43	-1.32	-1.21	2.62	-24.04	2.53	2.43	2.82
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	65.99%	69.04%	69.68%	101.93%	141.72%	70.32%	72.36%	-36.32%	-43.61%	-32.46%	-32.88%
Augmented Payout Ratio	65.99%	85.03%	96.77%	151.75%	203.21%	106.30%	105.65%	-53.14%	-63.89%	-39.91%	-36.94%

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.

05/26/26 11:53 PM ETAI Generated. May Contain Errors.

Kraft Heinz Financials - Frequently Asked Questions

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

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. See where experts think Kraft Heinz is headed by visiting Kraft Heinz's forecast page.

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

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%.

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.

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.

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%.

Related Companies

Financial statements for NASDAQ:KHC last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Kraft Heinz (KHC) Financials

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Kraft Heinz (KHC) Financials

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Financials Breakdown Chart

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Kraft Heinz Financials - Frequently Asked Questions

When does Kraft Heinz's financial year end?

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

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

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