Kroger (KR) Financials

$72.32 +0.94 (+1.32%)

As of 03:59 PM Eastern

Annual Income Statements for Kroger

This table shows Kroger'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	2025
Net Income / (Loss) Attributable to Common Shareholders	2,039	1,975	1,907	3,110	1,659	2,585	1,655	2,244	2,164	2,665
Consolidated Net Income / (Loss)	2,049	1,957	1,889	3,078	1,512	2,588	1,666	2,249	2,169	2,672
Net Income / (Loss) Continuing Operations	2,049	1,957	1,889	3,078	1,512	2,588	1,666	2,249	2,169	2,672
Total Pre-Tax Income	3,094	2,914	1,484	3,978	1,981	3,370	2,051	2,902	2,836	3,342
Total Operating Income	3,576	3,452	2,612	2,614	2,251	2,780	3,477	4,126	3,096	3,849
Total Gross Profit	24,334	25,835	27,469	26,749	26,992	30,901	30,349	31,778	33,364	33,403
Total Revenue	109,830	115,337	123,280	121,852	122,286	132,498	137,888	148,258	150,039	147,123
Operating Revenue	109,830	115,337	123,280	121,852	122,286	132,498	137,888	148,258	150,039	147,123
Total Cost of Revenue	85,496	89,502	95,811	95,103	95,294	101,597	107,539	116,480	116,675	113,720
Operating Cost of Revenue	85,496	89,502	95,811	95,103	95,294	101,597	107,539	116,480	116,675	113,720
Total Operating Expenses	20,758	22,383	24,857	24,135	24,741	28,121	26,872	27,652	30,268	29,554
Selling, General & Admin Expense	17,946	19,162	21,510	20,786	21,208	24,500	23,203	23,848	26,252	25,431
Depreciation Expense	2,089	2,340	2,436	2,465	2,649	2,747	2,824	2,965	3,125	3,246
Other Operating Expenses / (Income)	723	881	911	884	884	874	845	839	891	877
Total Other Income / (Expense), net	-482	-538	-1,128	1,364	-270	590	-1,426	-1,224	-260	-507
Interest Expense	482	522	601	620	603	544	571	535	441	-12
Interest & Investment Income	-	-	-	-	157	1,105	-821	-728	151	-598
Other Income / (Expense), net	-	-16	-527	1,984	176	29	-34	39	30	79
Income Tax Expense	1,045	957	-405	900	469	782	385	653	667	670
Net Income / (Loss) Attributable to Noncontrolling Interest	10	-18	-18	-32	-147	3.00	11	5.00	5.00	7.00
Basic Earnings per Share	$2.09	$2.08	$2.11	$3.80	$2.05	$3.31	$2.20	$3.10	$2.99	$3.70
Weighted Average Basic Shares Outstanding	966M	942M	895M	810M	799M	773M	744M	718M	718M	715M
Diluted Earnings per Share	$2.06	$2.05	$2.09	$3.76	$2.04	$3.27	$2.17	$3.06	$2.96	$3.67
Weighted Average Diluted Shares Outstanding	980M	958M	904M	818M	805M	781M	754M	727M	725M	720M
Weighted Average Basic & Diluted Shares Outstanding	975.60M	949.50M	903.80M	818.40M	777.89M	751.99M	723.31M	717.47M	721.69M	660.89M
Cash Dividends to Common per Share	$0.41	$0.47	$0.50	$0.55	$0.62	$0.70	$0.81	$0.99	$1.13	$1.25

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024
Net Income / (Loss) Attributable to Common Shareholders	398	451	962	-180	646	736	947	466	618
Consolidated Net Income / (Loss)	400	451	962	-179	647	739	956	465	617
Net Income / (Loss) Continuing Operations	400	451	962	-179	647	739	956	465	617
Total Pre-Tax Income	526	623	1,248	-197	851	934	1,191	613	804
Total Operating Income	841	826	1,470	-479	912	1,193	1,294	815	828
Total Gross Profit	7,308	7,576	10,085	7,378	7,480	8,421	10,145	7,651	7,686
Total Revenue	34,198	34,822	45,165	33,853	33,957	37,064	45,269	33,912	33,634
Operating Revenue	34,198	34,822	45,165	33,853	33,957	37,064	45,269	33,912	33,634
Total Cost of Revenue	26,890	27,246	35,080	26,475	26,477	28,643	35,124	26,261	25,948
Operating Cost of Revenue	26,890	27,246	35,080	26,475	26,477	28,643	35,124	26,261	25,948
Total Operating Expenses	6,467	6,750	8,615	7,857	6,568	7,228	8,851	6,836	6,858
Selling, General & Admin Expense	5,587	5,847	7,393	6,935	5,646	6,278	7,604	5,886	5,898
Depreciation Expense	685	706	957	716	721	731	978	751	757
Other Operating Expenses / (Income)	195	197	265	206	201	219	269	199	203
Total Other Income / (Expense), net	-315	-203	-222	282	-61	-259	-103	-202	-24
Interest Expense	119	112	153	93	-7.00	101	123	84	-3.00
Interest & Investment Income	-207	-92	-78	367	-68	-164	16	-121	-106
Other Income / (Expense), net	11	1.00	9.00	8.00	0.00	6.00	4.00	3.00	79
Income Tax Expense	126	172	286	-18	204	195	235	148	187
Net Income / (Loss) Attributable to Noncontrolling Interest	2.00	-	0.00	1.00	1.00	3.00	9.00	-1.00	-1.00
Basic Earnings per Share	$0.55	$0.63	$1.33	($0.25)	$0.89	$1.02	$1.30	$0.64	$0.85
Weighted Average Basic Shares Outstanding	716M	718M	717M	719M	719M	718M	721M	723M	723M
Diluted Earnings per Share	$0.55	$0.61	$1.32	($0.25)	$0.88	$1.01	$1.29	$0.64	$0.84
Weighted Average Diluted Shares Outstanding	724M	727M	724M	719M	725M	725M	727M	727M	728M
Weighted Average Basic & Diluted Shares Outstanding	715.82M	717.47M	717.75M	719.32M	719.42M	721.69M	721.79M	723.49M	723.61M
Cash Dividends to Common per Share	$0.26	$0.26	$0.26	$0.29	$0.29	$0.29	$0.29	$0.32	$0.32

This table details how cash moves in and out of Kroger'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	2025
Net Change in Cash & Equivalents	9.00	45	25	82	-30	1,288	134	-806	868	2,076
Net Cash From Operating Activities	4,917	4,272	3,413	4,164	4,664	6,815	6,190	4,498	6,788	5,794
Net Cash From Continuing Operating Activities	4,917	4,272	3,413	4,164	4,664	6,815	6,190	4,498	6,788	5,794
Net Income / (Loss) Continuing Operations	2,049	1,957	1,889	3,078	1,512	2,588	1,666	2,249	2,169	2,672
Consolidated Net Income / (Loss)	2,049	1,957	1,889	3,078	1,512	2,588	1,666	2,249	2,169	2,672
Depreciation Expense	2,089	2,340	2,436	2,465	2,649	2,747	2,824	2,965	3,125	3,246
Amortization Expense	-	-	-	0.00	640	626	605	614	625	603
Non-Cash Adjustments To Reconcile Net Income	391	252	-342	-1,820	470	-760	1,355	1,080	216	387
Changes in Operating Assets and Liabilities, net	388	-277	-570	441	-607	1,614	-260	-2,410	653	-1,114
Net Cash From Investing Activities	-3,570	-3,875	-2,707	-1,186	-2,611	-2,814	-2,611	-3,015	-3,750	-3,228
Net Cash From Continuing Investing Activities	-3,570	-3,875	-2,707	-1,186	-2,611	-2,814	-2,611	-3,015	-3,750	-3,228
Purchase of Property, Plant & Equipment	-3,349	-3,699	-2,809	-2,967	-3,128	-2,865	-2,614	-3,078	-3,904	-4,017
Sale of Property, Plant & Equipment	45	132	138	85	273	165	153	78	101	377
Divestitures	-	-	-	2,169	327	-	-	-	-	464
Other Investing Activities, net	-98	93	-20	160	-83	-114	-150	-15	53	-52
Net Cash From Financing Activities	-1,338	-352	-681	-2,896	-2,083	-2,713	-3,445	-2,289	-2,170	-490
Net Cash From Continuing Financing Activities	-1,338	-352	-681	-2,896	-2,083	-2,713	-3,445	-2,289	-2,170	-490
Repayment of Debt	-1,337	-1,441	-875	-2,750	-2,000	-2,031	-1,603	-748	-1,377	-5,080
Repurchase of Preferred Equity	-	-	-	-	-	-	-	-	-	-1,000
Repurchase of Common Equity	-703	-1,766	-1,633	-2,010	-465	-1,324	-1,647	-993	-62	-4,156
Payment of Dividends	-411	-429	-443	-437	-486	-534	-589	-682	-796	-883
Issuance of Debt	896	3,216	2,219	2,236	813	1,049	56	0.00	15	10,502
Issuance of Common Equity	120	68	51	65	55	127	172	134	50	127
Cash Interest Paid	474	505	656	614	523	564	607	545	488	252
Cash Income Taxes Paid	1,001	557	348	600	706	659	513	698	751	681

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024
Net Change in Cash & Equivalents	-186	99	1,617	-212	-695	158	980	-63	10,558
Net Cash From Operating Activities	911	1,160	2,860	1,504	504	1,920	2,342	1,122	926
Net Cash From Continuing Operating Activities	911	1,160	2,860	1,504	504	1,920	2,342	1,122	926
Net Income / (Loss) Continuing Operations	401	451	962	-179	647	739	956	465	617
Consolidated Net Income / (Loss)	401	451	962	-179	647	739	956	465	617
Depreciation Expense	685	706	957	717	722	729	978	750	758
Amortization Expense	142	143	188	142	142	153	187	140	138
Non-Cash Adjustments To Reconcile Net Income	387	-112	256	-317	74	203	92	196	-22
Changes in Operating Assets and Liabilities, net	-704	-28	497	1,141	-1,081	96	129	-429	-565
Net Cash From Investing Activities	-804	-823	-947	-848	-950	-1,005	-1,014	-891	-497
Net Cash From Continuing Investing Activities	-804	-823	-947	-848	-950	-1,005	-1,014	-891	-497
Purchase of Property, Plant & Equipment	-831	-817	-1,028	-926	-953	-997	-1,304	-875	-954
Sale of Property, Plant & Equipment	34	7.00	86	3.00	5.00	7.00	304	5.00	1.00
Other Investing Activities, net	-7.00	-13	-5.00	75	-2.00	-15	-14	-21	-8.00
Net Cash From Financing Activities	-293	-238	-296	-868	-249	-757	-348	-294	10,129
Net Cash From Continuing Financing Activities	-293	-238	-296	-868	-249	-757	-348	-294	10,129
Repayment of Debt	-104	-49	-102	-675	-38	-562	-120	-79	-143
Repurchase of Common Equity	-10	-8.00	-29	-18	-7.00	-8.00	-103	-13	-9.00
Payment of Dividends	-187	-188	-188	-188	-210	-210	-210	-210	-231
Issuance of Common Equity	8.00	7.00	23	13	6.00	8.00	85	8.00	13
Cash Interest Paid	77	89	164	144	72	108	70	122	-42
Cash Income Taxes Paid	217	49	92	198	289	172	119	78	329

This table presents Kroger'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	2025
Total Assets	33,897	36,505	37,197	38,118	45,256	48,662	49,086	49,623	50,505	52,616
Total Current Assets	9,892	10,340	11,117	10,803	10,890	12,503	12,174	12,670	12,948	15,273
Cash & Equivalents	277	322	347	429	399	1,687	1,821	1,015	1,883	3,959
Accounts Receivable	1,734	1,649	1,637	1,589	1,706	1,781	1,828	2,234	2,136	2,195
Inventories, net	6,168	6,561	6,533	6,846	7,084	7,063	6,783	7,560	7,105	7,038
Prepaid Expenses	790	898	835	592	522	876	660	734	609	769
Other Current Assets	923	910	1,161	1,181	1,179	1,096	1,082	1,127	1,215	1,312
Plant, Property, & Equipment, net	19,619	21,016	21,071	21,635	0.00	22,386	23,789	24,726	25,230	25,703
Total Noncurrent Assets	4,386	5,149	5,009	5,680	34,366	13,773	13,123	12,227	12,327	11,640
Goodwill	2,724	3,031	2,925	3,087	3,076	3,076	3,076	2,916	2,916	2,674
Intangible Assets	1,053	1,153	1,100	1,258	1,066	997	942	899	899	834
Other Noncurrent Operating Assets	609	965	984	1,335	30,224	9,700	9,105	8,412	8,512	8,132
Total Liabilities & Shareholders' Equity	33,897	36,505	37,197	38,118	45,256	48,662	49,086	49,623	50,505	52,616
Total Liabilities	27,099	29,795	30,292	30,283	36,683	39,112	39,657	39,609	38,904	44,335
Total Current Liabilities	12,971	12,860	14,197	14,274	14,243	15,366	16,323	17,238	16,058	15,940
Short-Term Debt	2,370	2,252	3,560	3,157	1,965	911	555	1,310	198	272
Accounts Payable	5,728	5,818	5,858	6,059	6,349	6,679	7,117	10,179	10,381	10,124
Accrued Expenses	1,426	1,234	1,099	1,227	1,168	1,413	1,736	1,746	1,323	1,330
Other Current Liabilities	3,226	3,305	3,421	3,780	4,761	6,363	6,915	4,003	4,156	4,214
Total Noncurrent Liabilities	14,128	16,935	16,095	16,009	22,440	23,746	23,334	22,371	22,846	28,395
Long-Term Debt	9,709	11,825	12,029	12,072	12,111	12,502	12,809	12,068	12,028	17,633
Noncurrent Deferred & Payable Income Tax Liabilities	1,752	1,927	1,568	1,562	1,466	1,542	1,562	1,672	1,579	1,417
Noncurrent Employee Benefit Liabilities	1,380	1,524	792	494	608	535	478	436	385	387
Other Noncurrent Operating Liabilities	1,287	1,659	1,706	1,881	8,255	9,167	8,485	8,195	8,854	8,958
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,798	6,710	6,905	7,835	8,573	9,550	9,429	10,014	11,601	8,281
Total Preferred & Common Equity	6,820	6,698	6,931	7,886	8,602	9,576	9,452	10,042	11,615	8,285
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	6,820	6,698	6,931	7,886	8,602	9,576	9,452	10,042	11,615	8,285
Common Stock	4,898	4,988	5,079	5,163	5,255	5,379	5,575	5,723	5,840	5,005
Retained Earnings	14,011	15,543	17,007	19,681	20,978	23,018	24,066	25,601	26,946	28,724
Treasury Stock	-11,409	-13,118	-14,684	-16,612	-16,991	-18,191	-19,722	-20,650	-20,682	-24,823
Accumulated Other Comprehensive Income / (Loss)	-680	-715	-471	-346	-640	-630	-467	-632	-489	-621
Noncontrolling Interest	-22	12	-26	-51	-29	-26	-23	-28	-14	-4.00

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	49,987	49,623	50,193	50,202	51,021	50,505	51,579	51,443	62,418
Total Current Assets	13,403	12,670	13,204	12,851	13,439	12,948	14,163	14,063	25,025
Cash & Equivalents	916	1,015	2,632	2,420	1,725	1,883	2,846	2,786	13,358
Accounts Receivable	2,019	2,234	1,766	1,820	1,938	2,136	1,968	2,149	2,193
Inventories, net	8,666	7,560	7,030	6,828	7,931	7,105	6,694	6,643	7,585
Prepaid Expenses	593	734	633	642	648	609	822	805	807
Other Current Assets	1,209	1,127	1,143	1,141	1,197	1,215	1,226	1,091	1,082
Plant, Property, & Equipment, net	24,080	24,726	24,935	24,894	24,882	25,230	25,537	25,708	25,698
Total Noncurrent Assets	12,504	12,227	12,054	12,457	12,700	12,327	11,879	11,672	11,695
Goodwill	3,076	2,916	2,916	2,916	2,916	2,916	2,673	2,673	2,674
Intangible Assets	906	899	893	885	890	899	864	866	865
Other Noncurrent Operating Assets	8,522	8,412	8,245	8,656	8,894	8,512	8,342	8,133	8,156
Total Liabilities & Shareholders' Equity	49,987	49,623	50,193	50,202	51,021	50,505	51,579	51,443	62,418
Total Liabilities	40,058	39,609	39,313	39,598	39,830	38,904	39,166	38,931	49,524
Total Current Liabilities	17,738	17,238	17,130	16,537	16,785	16,058	16,378	16,132	16,274
Short-Term Debt	788	1,310	1,319	716	724	198	198	196	187
Accounts Payable	8,219	10,179	7,353	7,597	8,149	10,381	10,777	10,344	10,521
Accrued Expenses	1,463	1,746	1,130	1,182	1,177	1,323	1,208	1,261	1,185
Other Current Liabilities	7,268	4,003	7,328	7,042	6,735	4,156	3,953	4,139	4,381
Total Noncurrent Liabilities	22,320	22,371	22,183	23,061	23,045	22,846	22,788	22,799	33,250
Long-Term Debt	12,442	12,068	12,114	12,075	12,039	12,028	12,021	12,034	22,414
Noncurrent Deferred & Payable Income Tax Liabilities	1,481	1,672	1,694	1,452	1,506	1,579	1,535	1,531	1,556
Noncurrent Employee Benefit Liabilities	407	436	427	419	387	385	386	377	371
Other Noncurrent Operating Liabilities	7,990	8,195	7,948	9,115	9,113	8,854	8,846	8,857	8,909
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	9,929	10,014	10,880	10,604	11,191	11,601	12,413	12,512	12,894
Total Preferred & Common Equity	9,955	10,042	10,905	10,626	11,209	11,615	12,418	12,518	12,900
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	9,955	10,042	10,905	10,626	11,209	11,615	12,418	12,518	12,900
Common Stock	5,676	5,723	5,744	5,758	5,789	5,840	5,902	5,905	5,956
Retained Earnings	25,338	25,601	26,375	25,984	26,421	26,946	27,683	27,917	28,299
Treasury Stock	-20,647	-20,650	-20,670	-20,676	-20,680	-20,682	-20,748	-20,764	-20,766
Accumulated Other Comprehensive Income / (Loss)	-412	-632	-544	-440	-321	-489	-419	-540	-589
Noncontrolling Interest	-26	-28	-25	-22	-18	-14	-5.00	-6.00	-6.00

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

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.26%	5.01%	6.89%	-1.16%	0.36%	8.35%	4.07%	7.52%	1.20%	0.00%	0.00%
EBITDA Growth	11.41%	1.96%	-21.73%	56.23%	-19.07%	8.15%	11.16%	12.69%	-11.21%	0.00%	13.10%
EBIT Growth	13.99%	-3.92%	-39.32%	120.53%	-47.22%	15.74%	22.57%	20.97%	-24.95%	0.00%	25.66%
NOPAT Growth	14.47%	-2.11%	43.42%	-39.17%	-15.06%	24.26%	32.29%	13.22%	-25.95%	0.00%	29.96%
Net Income Growth	17.29%	-4.49%	-3.47%	62.94%	-50.88%	71.16%	-35.63%	34.99%	-3.56%	0.00%	0.00%
EPS Growth	19.77%	-0.49%	1.95%	79.90%	-45.74%	60.29%	-33.64%	41.01%	-3.27%	0.00%	0.00%
Operating Cash Flow Growth	16.65%	-13.12%	-20.11%	22.00%	12.01%	46.12%	-9.17%	-27.33%	50.91%	0.00%	0.00%
Free Cash Flow Firm Growth	-66.36%	-15.93%	338.51%	-34.37%	52.39%	56.38%	0.62%	-42.70%	56.25%	0.00%	0.00%
Invested Capital Growth	10.91%	10.03%	6.53%	3.29%	-1.20%	-4.38%	-1.43%	6.70%	-1.94%	0.00%	1.29%
Revenue Q/Q Growth	0.88%	1.27%	3.39%	-2.69%	0.50%	1.41%	1.70%	1.21%	1.52%	0.00%	0.00%
EBITDA Q/Q Growth	1.02%	-0.10%	-15.95%	6.48%	13.66%	-19.77%	63.11%	-8.21%	6.26%	0.00%	0.00%
EBIT Q/Q Growth	0.45%	-2.00%	-28.99%	9.89%	-1.10%	-35.43%	354.22%	-15.24%	13.51%	0.00%	0.00%
NOPAT Q/Q Growth	1.95%	-1.91%	70.82%	-29.55%	7.95%	-20.30%	44.07%	-5.17%	16.47%	0.00%	0.00%
Net Income Q/Q Growth	2.09%	-3.17%	22.82%	-16.34%	4.71%	-13.24%	63.17%	-4.99%	15.31%	0.00%	0.00%
EPS Q/Q Growth	-0.48%	-5.09%	18.75%	-12.96%	0.99%	-12.80%	60.74%	-4.08%	15.63%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	5.15%	-5.65%	-11.81%	1.76%	4.13%	4.64%	8.43%	-5.05%	12.61%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-68.43%	191.11%	18.51%	13.64%	7.55%	-0.40%	29.25%	-12.68%	36.83%	0.00%	0.00%
Invested Capital Q/Q Growth	7.95%	1.86%	7.08%	1.97%	1.94%	-0.51%	0.23%	0.60%	-1.28%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.16%	22.40%	22.28%	21.95%	22.07%	23.32%	22.01%	21.43%	22.24%	22.24%	22.70%
EBITDA Margin	5.16%	5.01%	3.67%	5.80%	4.67%	4.67%	4.98%	5.22%	4.58%	4.58%	5.29%
Operating Margin	3.26%	2.99%	2.12%	2.15%	1.84%	2.10%	2.52%	2.78%	2.06%	2.06%	2.62%
EBIT Margin	3.26%	2.98%	1.69%	3.77%	1.98%	2.12%	2.50%	2.81%	2.08%	2.08%	2.67%
Profit (Net Income) Margin	1.87%	1.70%	1.53%	2.53%	1.24%	1.95%	1.21%	1.52%	1.45%	1.45%	1.82%
Tax Burden Percent	66.23%	67.16%	127.29%	77.38%	76.33%	76.80%	81.23%	77.50%	76.48%	76.48%	79.95%
Interest Burden Percent	86.52%	84.81%	71.18%	86.52%	81.62%	119.97%	59.57%	69.68%	90.72%	90.72%	85.08%
Effective Tax Rate	33.78%	32.84%	-27.29%	22.62%	23.67%	23.20%	18.77%	22.50%	23.52%	23.52%	20.05%
Return on Invested Capital (ROIC)	13.39%	11.87%	15.73%	9.13%	7.68%	9.81%	13.37%	14.75%	10.69%	10.79%	13.93%
ROIC Less NNEP Spread (ROIC-NNEP)	10.63%	9.04%	5.71%	16.26%	6.22%	13.38%	3.41%	6.82%	8.93%	8.87%	10.60%
Return on Net Nonoperating Assets (RNNOA)	20.09%	17.11%	12.02%	32.64%	10.75%	18.75%	4.19%	8.38%	9.38%	7.91%	17.84%
Return on Equity (ROE)	33.48%	28.98%	27.75%	41.76%	18.43%	28.56%	17.56%	23.13%	20.07%	18.70%	31.78%
Cash Return on Invested Capital (CROIC)	3.05%	2.32%	9.41%	5.89%	8.88%	14.29%	14.81%	8.27%	12.64%	0.00%	12.65%
Operating Return on Assets (OROA)	11.11%	9.76%	5.66%	12.21%	5.82%	5.98%	7.04%	8.44%	6.24%	6.19%	7.47%
Return on Assets (ROA)	6.36%	5.56%	5.13%	8.17%	3.63%	5.51%	3.41%	4.56%	4.33%	4.29%	5.08%
Return on Common Equity (ROCE)	33.46%	29.00%	27.78%	41.98%	18.52%	28.65%	17.60%	23.20%	20.11%	18.72%	31.79%
Return on Equity Simple (ROE_SIMPLE)	30.04%	29.22%	27.25%	39.03%	17.58%	27.03%	17.63%	22.40%	18.67%	18.67%	32.25%
Net Operating Profit after Tax (NOPAT)	2,368	2,318	3,325	2,023	1,718	2,135	2,824	3,198	2,368	2,368	3,077
NOPAT Margin	2.16%	2.01%	2.70%	1.66%	1.41%	1.61%	2.05%	2.16%	1.58%	1.58%	2.09%
Net Nonoperating Expense Percent (NNEP)	2.76%	2.83%	10.02%	-7.14%	1.45%	-3.57%	9.96%	7.94%	1.75%	1.92%	3.34%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	11.75%
Cost of Revenue to Revenue	77.84%	77.60%	77.72%	78.05%	77.93%	76.68%	77.99%	78.57%	77.76%	77.76%	77.30%
SG&A Expenses to Revenue	16.34%	16.61%	17.45%	17.06%	17.34%	18.49%	16.83%	16.09%	17.50%	17.50%	17.29%
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	18.90%	19.41%	20.16%	19.81%	20.23%	21.22%	19.49%	18.65%	20.17%	20.17%	20.09%
Earnings before Interest and Taxes (EBIT)	3,576	3,436	2,085	4,598	2,427	2,809	3,443	4,165	3,126	3,126	3,928
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5,665	5,776	4,521	7,063	5,716	6,182	6,872	7,744	6,876	6,876	7,777
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.58	3.91	3.18	2.50	2.26	2.53	3.18	3.08	2.81	2.86	5.36
Price to Tangible Book Value (P/TBV)	10.26	10.42	7.58	5.58	4.35	4.40	5.53	4.97	4.18	4.26	9.29
Price to Revenue (P/Rev)	0.28	0.23	0.18	0.16	0.16	0.18	0.22	0.21	0.22	0.22	0.30
Price to Earnings (P/E)	15.32	13.26	11.56	6.35	11.70	9.37	18.17	13.79	15.07	15.36	16.66
Dividend Yield	1.23%	1.61%	1.96%	3.98%	2.47%	2.14%	1.91%	2.17%	2.43%	2.40%	1.99%
Earnings Yield	6.53%	7.54%	8.65%	15.74%	8.54%	10.67%	5.50%	7.25%	6.64%	6.51%	6.00%
Enterprise Value to Invested Capital (EV/IC)	2.31	1.95	1.71	1.53	1.49	1.69	1.98	1.93	1.96	1.99	2.62
Enterprise Value to Revenue (EV/Rev)	0.39	0.35	0.30	0.28	0.27	0.27	0.30	0.29	0.29	0.29	0.40
Enterprise Value to EBITDA (EV/EBITDA)	7.59	6.92	8.24	4.88	5.78	5.81	6.05	5.59	6.24	6.34	7.50
Enterprise Value to EBIT (EV/EBIT)	12.03	11.63	17.87	7.50	13.62	12.79	12.08	10.39	13.74	13.94	14.85
Enterprise Value to NOPAT (EV/NOPAT)	18.16	17.23	11.21	17.06	19.24	16.83	14.73	13.53	18.13	18.40	18.95
Enterprise Value to Operating Cash Flow (EV/OCF)	8.75	9.35	10.92	8.29	7.09	5.27	6.72	9.62	6.33	6.42	10.07
Enterprise Value to Free Cash Flow (EV/FCFF)	79.77	88.13	18.74	26.45	16.63	11.55	13.30	24.14	15.33	0.00	20.87
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.78	2.10	2.26	1.94	1.64	1.40	1.42	1.34	1.05	1.05	2.16
Long-Term Debt to Equity	1.43	1.76	1.74	1.54	1.41	1.31	1.36	1.21	1.04	1.04	2.13
Financial Leverage	1.89	1.89	2.10	2.01	1.73	1.40	1.23	1.23	1.05	0.89	1.68
Leverage Ratio	5.26	5.21	5.41	5.11	5.08	5.18	5.15	5.08	4.63	4.35	6.35
Compound Leverage Factor	4.55	4.42	3.85	4.42	4.15	6.22	3.07	3.54	4.20	3.95	5.41
Debt to Total Capital	63.99%	67.72%	69.30%	66.03%	62.15%	58.41%	58.63%	57.19%	51.31%	51.31%	68.38%
Short-Term Debt to Total Capital	12.56%	10.83%	15.83%	13.69%	8.68%	3.97%	2.44%	5.60%	0.83%	0.83%	1.04%
Long-Term Debt to Total Capital	51.43%	56.89%	53.48%	52.34%	53.47%	54.44%	56.20%	51.59%	50.48%	50.48%	67.34%
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	-0.12%	0.06%	-0.12%	-0.22%	-0.13%	-0.11%	-0.10%	-0.12%	-0.06%	-0.06%	-0.02%
Common Equity to Total Capital	36.13%	32.22%	30.81%	34.19%	37.98%	41.70%	41.47%	42.93%	48.75%	48.75%	31.64%
Debt to EBITDA	2.13	2.44	3.45	2.16	2.46	2.17	1.94	1.73	1.78	1.78	2.30
Net Debt to EBITDA	2.08	2.38	3.37	2.10	2.39	1.90	1.68	1.60	1.50	1.50	1.79
Long-Term Debt to EBITDA	1.71	2.05	2.66	1.71	2.12	2.02	1.86	1.56	1.75	1.75	2.27
Debt to NOPAT	5.10	6.07	4.69	7.53	8.19	6.28	4.73	4.18	5.16	5.16	5.82
Net Debt to NOPAT	4.98	5.93	4.58	7.32	7.96	5.49	4.09	3.87	4.37	4.37	4.53
Long-Term Debt to NOPAT	4.10	5.10	3.62	5.97	7.05	5.86	4.54	3.77	5.08	5.08	5.73
Altman Z-Score	4.75	4.51	4.48	4.60	3.76	3.88	4.08	4.35	4.35	4.36	4.39
Noncontrolling Interest Sharing Ratio	0.07%	-0.07%	-0.10%	-0.52%	-0.49%	-0.30%	-0.26%	-0.26%	-0.19%	-0.12%	-0.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.76	0.80	0.78	0.76	0.76	0.81	0.75	0.74	0.81	0.81	0.96
Quick Ratio	0.16	0.15	0.14	0.14	0.15	0.23	0.22	0.19	0.25	0.25	0.39
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	539	453	1,988	1,305	1,988	3,109	3,128	1,793	2,801	0.00	2,794
Operating Cash Flow to CapEx	148.82%	119.76%	127.78%	144.48%	163.36%	252.41%	251.52%	149.93%	178.49%	178.49%	159.18%
Free Cash Flow to Firm to Interest Expense	1.12	0.87	3.31	2.10	3.30	5.71	5.48	3.35	6.35	0.00	0.00
Operating Cash Flow to Interest Expense	10.20	8.18	5.68	6.72	7.73	12.53	10.84	8.41	15.39	15.39	0.00
Operating Cash Flow Less CapEx to Interest Expense	3.35	1.35	1.23	2.07	3.00	7.56	6.53	2.80	6.77	6.77	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	3.41	3.28	3.35	3.24	2.93	2.82	2.82	3.00	3.00	2.97	2.80
Accounts Receivable Turnover	73.22	68.19	75.03	75.54	74.23	76.00	76.41	73.00	68.67	70.24	67.03
Inventory Turnover	14.42	14.06	14.63	14.22	13.68	14.36	15.53	16.24	15.91	16.42	16.16
Fixed Asset Turnover	5.85	5.68	5.86	5.71	0.00	0.00	5.97	6.11	6.01	5.95	5.72
Accounts Payable Turnover	15.86	15.50	16.41	15.96	15.36	15.60	15.59	13.47	11.35	11.24	11.23
Days Sales Outstanding (DSO)	4.99	5.35	4.86	4.83	4.92	4.80	4.78	5.00	5.32	5.20	5.45
Days Inventory Outstanding (DIO)	25.31	25.96	24.94	25.67	26.68	25.41	23.50	22.47	22.94	22.23	22.59
Days Payable Outstanding (DPO)	23.01	23.54	22.24	22.87	23.76	23.40	23.41	27.10	32.16	32.48	32.49
Cash Conversion Cycle (CCC)	7.28	7.77	7.57	7.64	7.83	6.81	4.86	0.37	-3.91	-5.05	-4.46
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	18,600	20,465	21,802	22,520	22,250	21,276	20,972	22,377	21,944	21,944	22,227
Invested Capital Turnover	6.21	5.90	5.83	5.50	5.46	6.09	6.53	6.84	6.77	6.84	6.66
Increase / (Decrease) in Invested Capital	1,829	1,865	1,337	718	-270	-974	-304	1,405	-433	0.00	283
Enterprise Value (EV)	43,014	39,952	37,258	34,502	33,063	35,922	41,594	43,276	42,939	43,568	58,328
Market Capitalization	31,234	26,185	22,042	19,753	19,415	24,222	30,074	30,941	32,610	33,239	44,386
Book Value per Share	$7.00	$7.14	$7.86	$9.89	$10.74	$12.58	$12.86	$14.03	$16.14	$16.14	$11.45
Tangible Book Value per Share	$3.12	$2.68	$3.30	$4.44	$5.57	$7.23	$7.39	$8.70	$10.84	$10.84	$6.60
Total Capital	18,877	20,787	22,494	23,064	22,649	22,963	22,793	23,392	23,827	23,827	26,186
Total Debt	12,079	14,077	15,589	15,229	14,076	13,413	13,364	13,378	12,226	12,226	17,905
Total Long-Term Debt	9,709	11,825	12,029	12,072	12,111	12,502	12,809	12,068	12,028	12,028	17,633
Net Debt	11,802	13,755	15,242	14,800	13,677	11,726	11,543	12,363	10,343	10,343	13,946
Capital Expenditures (CapEx)	3,304	3,567	2,671	2,882	2,855	2,700	2,461	3,000	3,803	3,803	3,640
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-986	-590	133	-743	-1,787	-3,639	-5,415	-4,273	-4,795	-4,795	-4,354
Debt-free Net Working Capital (DFNWC)	-709	-268	480	-314	-1,388	-1,952	-3,594	-3,258	-2,912	-2,912	-395
Net Working Capital (NWC)	-3,079	-2,520	-3,080	-3,471	-3,353	-2,863	-4,149	-4,568	-3,110	-3,110	-667
Net Nonoperating Expense (NNE)	319	361	1,436	-1,055	206	-453	1,158	949	199	199	405
Net Nonoperating Obligations (NNO)	11,802	13,755	14,897	14,685	13,677	11,726	11,543	12,363	10,343	10,343	13,946
Total Depreciation and Amortization (D&A)	2,089	2,340	2,436	2,465	3,289	3,373	3,429	3,579	3,750	3,750	3,849
Debt-free, Cash-free Net Working Capital to Revenue	-0.90%	-0.51%	0.11%	-0.61%	-1.46%	-2.75%	-3.93%	-2.88%	-3.20%	-3.20%	-2.96%
Debt-free Net Working Capital to Revenue	-0.65%	-0.23%	0.39%	-0.26%	-1.14%	-1.47%	-2.61%	-2.20%	-1.94%	-1.94%	-0.27%
Net Working Capital to Revenue	-2.80%	-2.18%	-2.50%	-2.85%	-2.74%	-2.16%	-3.01%	-3.08%	-2.07%	-2.07%	-0.45%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$3.80	$2.05	$3.31	$2.20	$3.10	$2.99	$2.99	$3.70
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	810M	799M	773M	744M	718M	718M	718M	715M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$3.76	$2.04	$3.27	$2.17	$3.06	$2.96	$2.96	$3.67
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	818M	805M	781M	754M	727M	725M	725M	720M
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	0.00	0.00	0.00	798.33M	777.89M	751.99M	723.31M	717.47M	721.69M	721.69M	660.89M
Normalized Net Operating Profit after Tax (NOPAT)	2,368	2,318	1,828	2,023	1,718	2,135	2,824	3,198	2,368	2,368	3,077
Normalized NOPAT Margin	2.16%	2.01%	1.48%	1.66%	1.41%	1.61%	2.05%	2.16%	1.58%	1.58%	2.09%
Pre Tax Income Margin	2.82%	2.53%	1.20%	3.26%	1.62%	2.54%	1.49%	1.96%	1.89%	1.89%	2.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.42	6.58	3.47	7.42	4.02	5.16	6.03	7.79	7.09	7.09	0.00
NOPAT to Interest Expense	4.91	4.44	5.53	3.26	2.85	3.92	4.95	5.98	5.37	5.37	0.00
EBIT Less CapEx to Interest Expense	0.56	-0.25	-0.98	2.77	-0.71	0.20	1.72	2.18	-1.54	-1.54	0.00
NOPAT Less CapEx to Interest Expense	-1.94	-2.39	1.09	-1.39	-1.89	-1.04	0.64	0.37	-3.25	-3.25	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	20.06%	21.92%	23.45%	14.20%	32.14%	20.63%	35.35%	30.32%	36.70%	36.70%	33.05%
Augmented Payout Ratio	54.37%	112.16%	109.90%	79.50%	62.90%	71.79%	134.21%	74.48%	39.56%	39.56%	188.59%

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

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	7.34%	5.37%	1.27%	-2.27%	-0.70%	6.44%	0.23%	0.17%	-0.95%
EBITDA Growth	5.80%	-29.25%	1.04%	-78.35%	5.78%	24.16%	-6.14%	340.21%	1.52%
EBIT Growth	7.71%	-47.53%	-2.76%	-148.81%	7.04%	44.98%	-12.24%	273.67%	-0.55%
NOPAT Growth	-14.62%	-22.14%	-8.20%	-145.18%	8.42%	57.86%	-8.34%	284.38%	-8.36%
Net Income Growth	-17.53%	-20.74%	44.44%	-124.45%	61.75%	63.86%	-0.62%	359.78%	-4.64%
EPS Growth	-14.06%	-17.57%	46.67%	-125.00%	60.00%	65.57%	-2.27%	356.00%	-4.55%
Operating Cash Flow Growth	-45.38%	-17.08%	159.53%	13.51%	-44.68%	65.52%	-18.11%	-25.40%	83.73%
Free Cash Flow Firm Growth	-156.20%	-175.29%	75.39%	333.80%	204.11%	270.61%	17.83%	-93.20%	2.83%
Invested Capital Growth	6.30%	6.70%	0.14%	-3.85%	-0.06%	-1.94%	-1.20%	2.78%	-0.41%
Revenue Q/Q Growth	-1.27%	1.82%	29.70%	-25.05%	0.31%	9.15%	22.14%	-25.09%	-0.82%
EBITDA Q/Q Growth	-6.31%	-0.18%	56.56%	-85.21%	357.73%	16.71%	18.36%	-30.65%	5.56%
EBIT Q/Q Growth	-11.71%	-2.93%	78.84%	-131.85%	293.63%	30.47%	8.26%	-36.98%	10.88%
NOPAT Q/Q Growth	-13.82%	-6.50%	89.50%	-129.59%	306.79%	36.13%	10.04%	-40.48%	2.78%
Net Income Q/Q Growth	-45.36%	12.75%	113.30%	-118.61%	461.45%	14.22%	29.36%	-51.36%	32.69%
EPS Q/Q Growth	-45.00%	10.91%	116.39%	-118.94%	452.00%	14.77%	27.72%	-50.39%	31.25%
Operating Cash Flow Q/Q Growth	-31.25%	27.33%	146.55%	-47.41%	-66.49%	280.95%	21.98%	-52.09%	-17.47%
Free Cash Flow Firm Q/Q Growth	-685.17%	-18.78%	236.56%	-54.30%	40.44%	94.65%	-5.68%	-97.36%	2,025.09%
Invested Capital Q/Q Growth	1.97%	0.60%	-3.11%	-3.26%	5.98%	-1.28%	-2.38%	0.64%	2.68%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	21.37%	21.76%	22.33%	21.79%	22.03%	22.72%	22.41%	22.56%	22.85%
EBITDA Margin	4.91%	4.81%	5.81%	1.15%	5.23%	5.61%	5.44%	5.04%	5.36%
Operating Margin	2.46%	2.37%	3.25%	-1.41%	2.69%	3.22%	2.86%	2.40%	2.46%
EBIT Margin	2.49%	2.37%	3.27%	-1.39%	2.69%	3.23%	2.87%	2.41%	2.70%
Profit (Net Income) Margin	1.17%	1.30%	2.13%	-0.53%	1.91%	1.99%	2.11%	1.37%	1.83%
Tax Burden Percent	76.05%	72.39%	77.08%	90.86%	76.03%	79.12%	80.27%	75.86%	76.74%
Interest Burden Percent	61.74%	75.33%	84.38%	41.83%	93.31%	77.90%	91.76%	74.94%	88.64%
Effective Tax Rate	23.95%	27.61%	22.92%	0.00%	23.97%	20.88%	19.73%	24.14%	23.26%
Return on Invested Capital (ROIC)	12.69%	11.75%	17.23%	-6.85%	13.57%	17.24%	15.99%	12.88%	12.76%
ROIC Less NNEP Spread (ROIC-NNEP)	10.67%	10.52%	15.75%	-5.47%	13.18%	15.44%	15.15%	11.30%	12.58%
Return on Net Nonoperating Assets (RNNOA)	13.05%	12.93%	17.91%	-6.09%	14.57%	16.22%	12.88%	9.49%	10.60%
Return on Equity (ROE)	25.75%	24.68%	35.15%	-12.94%	28.14%	33.46%	28.87%	22.37%	23.36%
Cash Return on Invested Capital (CROIC)	9.51%	8.27%	14.25%	13.15%	9.21%	12.64%	11.75%	12.75%	15.01%
Operating Return on Assets (OROA)	7.31%	7.13%	9.82%	-4.16%	7.86%	9.69%	8.46%	7.13%	7.13%
Return on Assets (ROA)	3.43%	3.89%	6.39%	-1.58%	5.58%	5.98%	6.23%	4.05%	4.85%
Return on Common Equity (ROCE)	25.82%	24.74%	35.22%	-12.97%	28.20%	33.53%	28.91%	22.39%	23.38%
Return on Equity Simple (ROE_SIMPLE)	23.78%	0.00%	23.34%	15.38%	16.78%	0.00%	17.42%	22.42%	21.53%
Net Operating Profit after Tax (NOPAT)	640	598	1,133	-335	693	944	1,039	618	635
NOPAT Margin	1.87%	1.72%	2.51%	-0.99%	2.04%	2.55%	2.29%	1.82%	1.89%
Net Nonoperating Expense Percent (NNEP)	2.02%	1.23%	1.48%	-1.39%	0.40%	1.81%	0.83%	1.58%	0.18%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	2.89%	-	-	-	1.79%
Cost of Revenue to Revenue	78.63%	78.24%	77.67%	78.21%	77.97%	77.28%	77.59%	77.44%	77.15%
SG&A Expenses to Revenue	16.34%	16.79%	16.37%	20.49%	16.63%	16.94%	16.80%	17.36%	17.54%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	18.91%	19.38%	19.07%	23.21%	19.34%	19.50%	19.55%	20.16%	20.39%
Earnings before Interest and Taxes (EBIT)	852	827	1,479	-471	912	1,199	1,298	818	907
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,679	1,676	2,624	388	1,776	2,081	2,463	1,708	1,803
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.18	3.08	3.17	3.21	2.83	2.81	3.06	3.07	3.34
Price to Tangible Book Value (P/TBV)	5.31	4.97	4.87	5.00	4.28	4.18	4.28	4.28	4.61
Price to Revenue (P/Rev)	0.22	0.21	0.23	0.23	0.21	0.22	0.25	0.26	0.29
Price to Earnings (P/E)	13.44	13.79	13.59	20.91	16.86	15.07	17.69	13.74	15.58
Dividend Yield	2.01%	2.17%	2.16%	2.19%	2.43%	2.43%	2.20%	2.24%	2.00%
Earnings Yield	7.44%	7.25%	7.36%	4.78%	5.93%	6.64%	5.65%	7.28%	6.42%
Enterprise Value to Invested Capital (EV/IC)	1.98	1.93	2.09	2.12	1.92	1.96	2.21	2.22	2.36
Enterprise Value to Revenue (EV/Rev)	0.30	0.29	0.30	0.30	0.29	0.29	0.32	0.32	0.35
Enterprise Value to EBITDA (EV/EBITDA)	5.21	5.59	5.83	6.98	6.61	6.24	7.06	5.95	6.49
Enterprise Value to EBIT (EV/EBIT)	8.95	10.39	10.99	16.54	15.54	13.74	16.09	11.30	12.38
Enterprise Value to NOPAT (EV/NOPAT)	13.04	13.53	14.53	22.52	21.00	18.13	20.85	14.51	16.17
Enterprise Value to Operating Cash Flow (EV/OCF)	9.28	9.62	7.25	6.91	7.08	6.33	7.56	8.12	8.30
Enterprise Value to Free Cash Flow (EV/FCFF)	21.42	24.14	14.68	15.80	20.86	15.33	18.71	17.64	15.72
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	1.33	1.34	1.23	1.21	1.14	1.05	0.98	0.98	1.75
Long-Term Debt to Equity	1.25	1.21	1.11	1.14	1.08	1.04	0.97	0.96	1.74
Financial Leverage	1.22	1.23	1.14	1.11	1.11	1.05	0.85	0.84	0.84
Leverage Ratio	5.14	5.08	4.90	4.89	4.78	4.63	4.37	4.40	4.71
Compound Leverage Factor	3.17	3.82	4.13	2.04	4.46	3.61	4.01	3.30	4.18
Debt to Total Capital	57.13%	57.19%	55.25%	54.67%	53.28%	51.31%	49.61%	49.43%	63.67%
Short-Term Debt to Total Capital	3.40%	5.60%	5.43%	3.06%	3.02%	0.83%	0.80%	0.79%	0.53%
Long-Term Debt to Total Capital	53.72%	51.59%	49.83%	51.61%	50.26%	50.48%	48.80%	48.64%	63.15%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-0.11%	-0.12%	-0.10%	-0.09%	-0.08%	-0.06%	-0.02%	-0.02%	-0.02%
Common Equity to Total Capital	42.99%	42.93%	44.85%	45.42%	46.79%	48.75%	50.41%	50.59%	36.34%
Debt to EBITDA	1.57	1.73	1.73	2.01	1.97	1.78	1.82	1.52	2.80
Net Debt to EBITDA	1.46	1.60	1.39	1.63	1.71	1.50	1.40	1.18	1.15
Long-Term Debt to EBITDA	1.47	1.56	1.56	1.90	1.86	1.75	1.79	1.50	2.78
Debt to NOPAT	3.92	4.18	4.31	6.48	6.28	5.16	5.38	3.71	6.98
Net Debt to NOPAT	3.65	3.87	3.46	5.25	5.43	4.37	4.12	2.87	2.85
Long-Term Debt to NOPAT	3.69	3.77	3.88	6.12	5.92	5.08	5.29	3.65	6.92
Altman Z-Score	4.07	4.12	4.23	4.07	4.08	4.23	4.28	4.28	3.77
Noncontrolling Interest Sharing Ratio	-0.28%	-0.26%	-0.21%	-0.20%	-0.21%	-0.19%	-0.13%	-0.12%	-0.10%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	0.76	0.74	0.77	0.78	0.80	0.81	0.86	0.87	1.54
Quick Ratio	0.17	0.19	0.26	0.26	0.22	0.25	0.29	0.31	0.96
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-679	-807	1,102	504	707	1,377	1,299	34	727
Operating Cash Flow to CapEx	114.30%	143.21%	303.61%	162.95%	53.16%	193.94%	234.20%	128.97%	97.17%
Free Cash Flow to Firm to Interest Expense	-5.71	-7.21	7.20	5.42	0.00	13.63	10.56	0.41	0.00
Operating Cash Flow to Interest Expense	7.66	10.36	18.69	16.17	0.00	19.01	19.04	13.36	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.96	3.13	12.54	6.25	0.00	9.21	10.91	3.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	2.94	3.00	3.00	2.99	2.93	3.00	2.95	2.96	2.64
Accounts Receivable Turnover	74.49	73.00	81.48	80.26	74.70	68.67	80.42	75.69	72.56
Inventory Turnover	14.20	16.24	16.21	16.36	13.89	15.91	17.01	17.30	14.95
Fixed Asset Turnover	6.18	6.11	6.06	6.04	6.04	6.01	5.95	5.94	5.93
Accounts Payable Turnover	14.28	13.47	15.64	15.38	14.09	11.35	12.88	12.99	12.42
Days Sales Outstanding (DSO)	4.90	5.00	4.48	4.55	4.89	5.32	4.54	4.82	5.03
Days Inventory Outstanding (DIO)	25.70	22.47	22.52	22.31	26.28	22.94	21.46	21.10	24.42
Days Payable Outstanding (DPO)	25.56	27.10	23.33	23.73	25.91	32.16	28.35	28.10	29.38
Cash Conversion Cycle (CCC)	5.04	0.37	3.66	3.13	5.25	-3.91	-2.35	-2.18	0.07
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	22,243	22,377	21,681	20,975	22,229	21,944	21,421	21,559	22,137
Invested Capital Turnover	6.79	6.84	6.87	6.92	6.65	6.77	6.97	7.06	6.76
Increase / (Decrease) in Invested Capital	1,319	1,405	31	-839	-14	-433	-260	584	-92
Enterprise Value (EV)	43,979	43,276	45,329	44,456	42,698	42,939	47,378	47,830	52,346
Market Capitalization	31,691	30,941	34,553	34,107	31,678	32,610	38,010	38,392	43,109
Book Value per Share	$13.91	$14.03	$15.20	$14.80	$15.58	$16.14	$17.21	$17.34	$17.83
Tangible Book Value per Share	$8.34	$8.70	$9.89	$9.51	$10.29	$10.84	$12.31	$12.44	$12.94
Total Capital	23,159	23,392	24,313	23,395	23,954	23,827	24,632	24,742	35,495
Total Debt	13,230	13,378	13,433	12,791	12,763	12,226	12,219	12,230	22,601
Total Long-Term Debt	12,442	12,068	12,114	12,075	12,039	12,028	12,021	12,034	22,414
Net Debt	12,314	12,363	10,801	10,371	11,038	10,343	9,373	9,444	9,243
Capital Expenditures (CapEx)	797	810	942	923	948	990	1,000	870	953
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,463	-4,273	-5,239	-5,390	-4,347	-4,795	-4,863	-4,659	-4,420
Debt-free Net Working Capital (DFNWC)	-3,547	-3,258	-2,607	-2,970	-2,622	-2,912	-2,017	-1,873	8,938
Net Working Capital (NWC)	-4,335	-4,568	-3,926	-3,686	-3,346	-3,110	-2,215	-2,069	8,751
Net Nonoperating Expense (NNE)	240	147	171	-156	46	205	83	153	18
Net Nonoperating Obligations (NNO)	12,314	12,363	10,801	10,371	11,038	10,343	9,008	9,047	9,243
Total Depreciation and Amortization (D&A)	827	849	1,145	859	864	882	1,165	890	896
Debt-free, Cash-free Net Working Capital to Revenue	-3.05%	-2.88%	-3.52%	-3.64%	-2.94%	-3.20%	-3.24%	-3.10%	-2.95%
Debt-free Net Working Capital to Revenue	-2.42%	-2.20%	-1.75%	-2.01%	-1.77%	-1.94%	-1.34%	-1.25%	5.96%
Net Working Capital to Revenue	-2.96%	-3.08%	-2.64%	-2.49%	-2.26%	-2.07%	-1.48%	-1.38%	5.84%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.55	$0.63	$1.33	($0.25)	$0.89	$1.02	$1.30	$0.64	$0.85
Adjusted Weighted Average Basic Shares Outstanding	716M	718M	717M	719M	719M	718M	721M	723M	723M
Adjusted Diluted Earnings per Share	$0.55	$0.61	$1.32	($0.25)	$0.88	$1.01	$1.29	$0.64	$0.84
Adjusted Weighted Average Diluted Shares Outstanding	724M	727M	724M	719M	725M	725M	727M	727M	728M
Adjusted Basic & Diluted Earnings per Share	$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	715.82M	717.47M	717.75M	719.32M	719.42M	721.69M	721.79M	723.49M	723.61M
Normalized Net Operating Profit after Tax (NOPAT)	640	598	1,133	-335	693	944	1,039	618	635
Normalized NOPAT Margin	1.87%	1.72%	2.51%	-0.99%	2.04%	2.55%	2.29%	1.82%	1.89%
Pre Tax Income Margin	1.54%	1.79%	2.76%	-0.58%	2.51%	2.52%	2.63%	1.81%	2.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.16	7.38	9.67	-5.06	0.00	11.87	10.55	9.74	0.00
NOPAT to Interest Expense	5.37	5.34	7.41	-3.61	0.00	9.35	8.44	7.36	0.00
EBIT Less CapEx to Interest Expense	0.46	0.15	3.51	-14.99	0.00	2.07	2.42	-0.62	0.00
NOPAT Less CapEx to Interest Expense	-1.32	-1.89	1.25	-13.53	0.00	-0.46	0.31	-3.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.46%	30.32%	28.13%	45.96%	41.15%	36.70%	37.82%	29.93%	31.00%
Augmented Payout Ratio	94.34%	74.48%	42.16%	49.94%	44.44%	39.56%	44.11%	34.59%	35.79%

Frequently Asked Questions About Kroger's Financials

When does Kroger's financial year end?

According to the most recent income statement we have on file, Kroger's fiscal year ends in February. Their fiscal year 2025 ended on February 1, 2025.

How has Kroger's net income changed over the last 9 years?

In the past 9 years, Kroger's net income has ranged from $1.51 billion in 2019 to $3.08 billion in 2018, and is currently $2.67 billion as of their latest financial filing in 2025.

What is Kroger's operating income?

Kroger's total operating income in 2025 was $3.85 billion, based on the following breakdown:

Total Gross Profit: $33.40 billion
Total Operating Expenses: $29.55 billion

How has Kroger revenue changed over the last 9 years?

Over the last 9 years, Kroger's total revenue changed from $109.83 billion in 2015 to $147.12 billion in 2025, a change of 34.0%.

How much debt does Kroger have?

Kroger's total liabilities were at $44.34 billion at the end of 2025, a 14.0% increase from 2023, and a 63.6% increase since 2015.

How much cash does Kroger have?

In the past 9 years, Kroger's cash and equivalents has ranged from $277 million in 2015 to $3.96 billion in 2025, and is currently $3.96 billion as of their latest financial filing in 2025.

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

Over the last 10 years, Kroger's book value per share changed from 7.00 in 2015 to 11.45 in 2025, a change of 63.6%.

Related Companies

This page (NYSE:KR) was last updated on 4/30/2025 by MarketBeat.com Staff

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Kroger (KR) Financials

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Kroger (KR) Financials

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