Krispy Kreme, Inc. DNUT
Krispy Kreme, Inc. ("KKI" and, together with its subsidiaries, the "Company" or "Krispy Kreme") is one of the most beloved and well-known sweet treat brands in the world. Over its nearly 89-year history, Krispy Kreme has developed a broad consumer base globally and currently operates in 42 countries through its unique network of shops ("Doughnut Shops"), partnerships with leading retailers, and growing digital business. The Company's purpose is to touch and enhance lives through the joy that is Krispy Kreme.
We are an omni-channel business that focuses on fresh, high-quality doughnuts with 15,194 points of access globally as of the end of fiscal 2025. We refer to the points of access where consumers can purchase our doughnuts as our "Global Points of Access" or "Points of Access" when referring to points of access in a particular region or segment. We sell doughnuts to consumers through three main channels: (1) Hot Light Theater Shops and Fresh Shops, (2) fresh delivery, and (3) digital. These channels are supported by a capital-efficient Hub and Spoke model, which leverages production capabilities of our "Hubs" to deliver fresh doughnuts to our "Spokes."
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.52B | $1.67B | $1.69B | $1.53B | $1.38B | $1.12B | $959.4M | — |
| SG&A | $226.3M | $274.3M | $266.9M | $223.2M | $222.4M | $182.3M | $161.5M | — |
| Operating income | -$469.3M | -$8.7M | $13.1M | $29.0M | $41.1M | $4.3M | $38.0M | — |
| Pre-tax income | -$544.6M | $19.8M | -$41.0M | -$8.2M | -$4.1M | -$51.8M | -$21.4M | — |
| Income tax | $20.8M | $16.0M | $4.3M | $612.0K | $10.7M | $9.1M | $12.6M | — |
| Net income | -$523.8M | $3.8M | -$36.6M | -$8.8M | -$14.8M | -$64.3M | -$37.4M | — |
| EPS, basic | -3.04 | 0.02 | -0.23 | -0.10 | -0.18 | -0.52 | -0.30 | — |
| EPS, diluted | -3.04 | 0.02 | -0.23 | -0.10 | -0.18 | -0.52 | -0.30 | — |
| Shares, diluted (wtd. avg.) | $170.9M | $171.5M | $168.3M | $167.5M | $147.7M | $125.0M | $125.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $42.4M | $29.0M | $38.2M | $35.7M | $39.2M | $37.5M | $35.5M | $53.1M |
| Receivables | $55.7M | $57.4M | $45.9M | $40.1M | $41.1M | $39.6M | — | — |
| Inventory | $26.9M | $28.1M | $34.7M | $46.2M | $34.9M | $38.5M | — | — |
| Total current assets | $174.5M | $172.9M | $173.6M | $178.3M | $156.9M | $164.1M | — | — |
| Property, plant and equipment | — | — | — | — | — | — | — | $227.1M |
| Goodwill | $712.3M | $1.05B | $1.10B | $1.09B | $1.11B | $1.09B | $1.05B | — |
| Other intangibles | $797.7M | $819.9M | $946.3M | $966.1M | $992.5M | $998.0M | — | $920.3M |
| Total assets | $2.59B | $3.07B | $3.24B | $3.15B | $3.15B | $3.06B | — | — |
| Accounts payable | $134.4M | $123.3M | $156.5M | $225.3M | $182.1M | $148.6M | — | — |
| Short-term debt | — | — | — | — | — | — | — | $38.1M |
| Total current liabilities | $457.3M | $486.2M | $525.6M | $516.5M | $526.2M | $497.8M | — | — |
| Long-term debt | — | — | — | — | — | — | — | $592.7M |
| Total liabilities | $1.92B | $1.91B | $1.98B | $1.85B | $1.81B | $2.21B | — | — |
| Retained earnings | -$821.4M | -$299.6M | -$279.0M | -$217.5M | -$178.4M | -$142.2M | — | -$67.6M |
| Total equity | $650.1M | $1.13B | $1.24B | $1.27B | $1.34B | $848.4M | $883.4M | $861.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $33.9M | $45.8M | $45.5M | $139.8M | $141.2M | $28.7M | $80.8M | — |
| Depreciation and amortisation | $137.1M | $133.6M | $125.9M | $110.3M | $101.6M | $80.4M | $63.8M | — |
| Stock-based compensation | $12.9M | $35.1M | $24.2M | $18.2M | $22.9M | $11.6M | $10.7M | — |
| Capital expenditure | $97.9M | $120.8M | $121.4M | $111.7M | $119.5M | $97.8M | $76.4M | — |
| Investing cash flow | -$12.1M | $19.3M | -$112.6M | -$121.5M | -$153.4M | -$168.1M | -$226.6M | — |
| Financing cash flow | -$7.8M | -$73.9M | $71.9M | -$16.8M | $16.1M | $139.4M | $129.1M | — |
| Dividends paid | $11.9M | $23.7M | $23.6M | $23.4M | $48.2M | $42.0K | $2.6M | — |
| Buybacks | $1.4M | $5.5M | $1.9M | $4.0M | $139.1M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-182138.