Kraft Heinz Co KHC
We are driving transformation at The Kraft Heinz Company (Nasdaq: KHC), inspired by our Purpose, Let's Make Life Delicious. Consumers are at the center of everything we do. With 2025 net sales of approximately $25 billion, we are committed to growing our iconic and emerging food and beverage brands on a global scale. We leverage our scale and agility to unleash the full power of Kraft Heinz across a portfolio of eight consumer-driven product platforms. As global citizens, we're dedicated to making a sustainable, ethical impact while helping to feed the world in healthy, responsible ways.
On July 2, 2015, through a series of transactions, we consummated the merger of Kraft Foods Group, Inc. ("Kraft") with and into a wholly-owned subsidiary of H.J. Heinz Holding Corporation ("Heinz") (the "2015 Merger"). At the closing of the 2015 Merger, Heinz was renamed The Kraft Heinz Company, and H. J. Heinz Company changed its name to Kraft Heinz Foods Company ("KHFC"). On September 2, 2025, we announced our intention to separate our company into two independent publicly traded companies through a tax-free spin-off (the "Separation"). On February 11, 2026, we announced that the Kraft Heinz Board of Directors (the "Board") has decided to pause work related to the Separation. If work related to the Separation is resumed, the Separation would be subject to the satisfaction of customary conditions, including final approval by the Board, receipt of favorable tax opinions of our U.S. tax advisors with respect to the tax-free nature of the Separation, and the effectiveness of appropriate filings with the U.S. Securities and Exchange Commission.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.94B | $25.85B | $26.64B | $26.48B | $26.04B | $26.18B | $24.98B | $26.27B | $26.08B | $26.30B |
| Cost of revenue | $16.63B | $16.88B | $17.71B | $18.36B | $17.36B | $17.01B | $16.83B | $17.35B | $17.04B | $17.15B |
| Gross profit | $8.31B | $8.97B | $8.93B | $8.12B | $8.68B | $9.18B | $8.15B | $8.92B | $9.03B | $9.15B |
| R&D | $167.0M | $150.0M | $147.0M | $127.0M | $140.0M | $119.0M | $112.0M | $109.0M | $93.0M | $120.0M |
| SG&A | $12.98B | $7.29B | $4.35B | $4.49B | $5.22B | $7.05B | $5.08B | $19.13B | $2.98B | $3.54B |
| Operating income | -$4.67B | $1.68B | $4.57B | $3.63B | $3.46B | $2.13B | $3.07B | -$10.21B | $6.06B | $5.60B |
| Interest expense | $947.0M | $912.0M | $912.0M | $921.0M | $2.05B | $1.39B | $1.36B | $1.28B | $1.23B | $1.13B |
| Pre-tax income | -$5.45B | $856.0M | $3.63B | $2.97B | $1.71B | $1.03B | $2.66B | -$11.32B | $5.45B | $4.94B |
| Income tax | $403.0M | $1.89B | $787.0M | $598.0M | $684.0M | $669.0M | $728.0M | $1.07B | $5.48B | $1.33B |
| Net income | -$5.85B | $2.74B | $2.85B | $2.36B | $1.01B | $356.0M | $1.94B | -$10.19B | $10.94B | $3.60B |
| EPS, basic | -4.93 | 2.27 | 2.33 | 1.93 | 0.83 | 0.29 | 1.59 | -8.36 | 8.98 | 2.81 |
| EPS, diluted | -4.93 | 2.26 | 2.31 | 1.91 | 0.82 | 0.29 | 1.58 | -8.36 | 8.91 | 2.78 |
| Shares, diluted (wtd. avg.) | $1.19B | $1.22B | $1.24B | $1.24B | $1.24B | $1.23B | $1.22B | $1.22B | $1.23B | $1.23B |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $2.62B | $1.33B | $1.40B | $1.04B | $3.45B | $3.42B | $2.28B | $1.14B | $1.77B | $4.25B |
| Receivables | $2.25B | $2.15B | $2.11B | $2.12B | $1.96B | $2.06B | $1.97B | $2.13B | $973.0M | $936.0M |
| Inventory | $3.17B | $3.38B | $3.61B | $3.65B | $2.73B | $2.77B | $2.72B | $2.67B | $3.01B | $3.09B |
| Total current assets | $10.13B | $7.66B | $7.93B | $7.90B | $8.99B | $10.82B | $8.10B | $9.07B | $7.03B | $9.04B |
| Property, plant and equipment | — | — | — | — | — | — | $7.05B | $7.08B | $6.80B | $6.69B |
| Goodwill | $22.18B | $28.67B | $30.46B | $30.83B | $31.30B | $33.09B | $35.55B | $36.50B | $44.57B | $44.30B |
| Other intangibles | $37.53B | $40.10B | $42.45B | $42.65B | $43.54B | $46.67B | $48.65B | $49.47B | $59.38B | $59.31B |
| Total assets | $81.79B | $88.29B | $90.34B | $90.51B | $93.39B | $99.83B | $101.45B | $103.46B | $119.32B | $120.95B |
| Short-term debt | — | — | $0 | $6.0M | $14.0M | $6.0M | $6.0M | $21.0M | $1.09B | $909.0M |
| Total current liabilities | $8.78B | $7.25B | $8.04B | $9.03B | $9.06B | $8.06B | $7.88B | $7.50B | $7.41B | $9.64B |
| Total liabilities | $40.00B | $38.96B | $40.62B | $41.64B | $43.94B | $49.59B | $49.70B | $51.68B | $60.90B | $63.13B |
| Retained earnings | -$4.63B | $2.17B | $1.37B | $489.0M | -$1.68B | -$2.69B | -$3.06B | -$4.85B | $1.13B | $705.0M |
| Total equity | $41.66B | $49.19B | $49.69B | $48.83B | $49.45B | $50.24B | $51.75B | $51.77B | $66.07B | $57.46B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.46B | $4.18B | $3.98B | $2.47B | $5.36B | $4.93B | $3.55B | $2.57B | $501.0M | $2.65B |
| Depreciation and amortisation | $968.0M | $948.0M | $961.0M | $933.0M | $910.0M | $969.0M | $994.0M | $983.0M | $1.03B | $1.34B |
| Stock-based compensation | $95.0M | $109.0M | $141.0M | $148.0M | $197.0M | $156.0M | $46.0M | $33.0M | $46.0M | $46.0M |
| Capital expenditure | $801.0M | $1.02B | $1.01B | $916.0M | $905.0M | $596.0M | $768.0M | $826.0M | $1.19B | $1.25B |
| Investing cash flow | -$1.83B | -$1.02B | -$916.0M | -$1.09B | $4.04B | -$522.0M | $1.51B | $288.0M | $1.18B | $1.45B |
| Financing cash flow | -$1.25B | -$3.01B | -$2.68B | -$3.71B | -$9.34B | -$3.33B | -$3.91B | -$3.36B | -$4.22B | -$4.62B |
| Dividends paid | $1.90B | $1.93B | $1.97B | $1.96B | $1.96B | $1.96B | $1.95B | $3.18B | $2.89B | $3.58B |
| Buybacks | $436.0M | $988.0M | $455.0M | $280.0M | $271.0M | — | — | — | — | — |
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 0001637459-26-000009.
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