The Kraft Heinz Company (KHC) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.53	$0.56	+5.7%	—	$6.3B	—
Q1 26	$0.5	$0.58	+16.0%	—	$6B	—
Q4 25	$0.61	$0.67	+9.8%	—	$6.4B	—
Q2 25	$0.64	$0.69	+7.8%	—	$6.4B	—
Q1 25	$0.6	$0.62	+3.3%	—	$6B	—
Q4 24	$0.78	$0.84	+7.7%	—	$6.6B	—
Q3 24	$0.74	$0.75	+1.4%	—	$6.4B	—
Q2 24	$0.74	$0.78	+5.4%	—	$6.5B	—
Q1 24	$0.69	$0.69	0.0%	—	$6.4B	—
Q4 23	$0.77	$0.78	+1.3%	—	$6.9B	—
Q3 23	$0.66	$0.72	+9.1%	—	$6.6B	—
Q2 23	$0.76	$0.79	+3.9%	—	$6.7B	—
Q1 23	$0.6	$0.68	+13.3%	—	$6.5B	—
Q4 22	$0.78	$0.85	+9.0%	—	$7.4B	—
Q3 22	$0.56	$0.63	+12.5%	—	$6.5B	—
Q2 22	$0.68	$0.7	+2.9%	—	$6.6B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$4.93	—	—	$24.9B	—
FY24	—	$2.27	—	—	$25.8B	—
FY23	—	$2.33	—	—	$26.6B	—
FY22	—	$1.93	—	—	$26.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$26.3B	$26.1B	$26.3B	$25B	$26.2B	$26B	$26.5B	$26.6B	$25.8B	$24.9B
YoY change	+43.4%	-0.85%	+0.74%	-4.91%	+4.84%	-0.55%	+1.7%	+0.59%	-2.98%	-3.5%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	26.3B	26.1B	26.3B	25B	26.2B	26B	26.5B	26.6B	25.8B	24.9B
Cost of revenue	17.2B	17B	17.3B	16.8B	17B	17.4B	18.4B	17.7B	16.9B	16.6B
Gross profit	9.1B	9B	8.9B	8.1B	9.2B	8.7B	8.1B	8.9B	9B	8.3B
Gross margin	34.8%	34.6%	34%	32.6%	35%	33.3%	30.7%	33.5%	34.7%	33.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	3.5B	2.9B	2.8B	2.7B	3.3B	3.4B	3.4B	3.7B	3.6B	3.7B
Operating expenses	3.5B	2.9B	2.8B	2.7B	3.3B	3.4B	3.4B	3.7B	3.6B	3.7B
Operating income	5.6B	6.1B	6.1B	5.4B	5.8B	5.3B	4.7B	5.2B	5.4B	4.6B
Operating margin	21.4%	23.4%	23.2%	21.8%	22.3%	20.4%	17.7%	19.4%	20.7%	18.6%
Non-operating income, net	454M	578M	-16.2B	-1.5B	-3.5B	-1.6B	-836M	-676M	-3.7B	-9.3B
Pretax income	4.9B	5.5B	-11.3B	2.7B	1B	1.7B	3B	3.6B	856M	-5.4B
Income tax	1.3B	-5.5B	-1.1B	728M	669M	684M	598M	787M	-1.9B	403M
Net income	3.6B	10.9B	-10.3B	1.9B	361M	1B	2.4B	2.8B	2.7B	-5.8B
Net margin	13.7%	41.9%	-39%	7.74%	1.38%	3.93%	8.94%	10.7%	10.6%	-23.4%
EBITDA	7.4B	7.8B	7.1B	6.5B	6.8B	6.2B	5.7B	6.2B	6.5B	5.8B
EPS	2.81	8.98	-8.36	1.59	0.29	0.83	1.93	2.33	2.27	-4.93
Diluted EPS	2.78	8.91	-8.36	1.58	0.29	0.82	1.91	2.31	2.26	-4.93

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	6.6B	6.9B	6.4B	6.5B	6.4B	6.6B	6B	6.4B	6.2B	6.4B	6B	6.3B
Cost of revenue	4.3B	4.5B	4.2B	4.2B	4.2B	4.3B	3.9B	4.2B	4.2B	4.3B	3.8B	4.2B
Gross profit	2.2B	2.3B	2.2B	2.3B	2.2B	2.2B	2.1B	2.2B	2B	2.1B	2.2B	2B
Gross margin	34%	33.8%	35%	35.4%	34.2%	34.1%	34.4%	34.4%	31.9%	32.6%	36.7%	32.4%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	895M	1.1B	908M	885M	859M	898M	868M	891M	930M	983M	1.1B	1.1B
Operating expenses	895M	1.1B	908M	885M	859M	898M	868M	891M	930M	983M	1.1B	1.1B
Operating income	1.3B	1.2B	1.3B	1.4B	1.3B	1.3B	1.2B	1.3B	1.1B	1.1B	1.2B	921M
Operating margin	20.4%	17%	20.8%	21.8%	20.8%	20.5%	19.9%	20.3%	17%	17.1%	19.1%	14.7%
Non-operating income, net	-664M	-2M	-96M	-849M	-1.4B	-1.4B	28M	-9.2B	-47M	9M	46M	-7.4B
Pretax income	460M	950M	1B	348M	-283M	-238M	1B	-8.2B	807M	897M	1B	-6.4B
Income tax	206M	193M	225M	248M	7M	-2.4B	304M	-344M	194M	249M	211M	-916M
Net income	254M	757M	804M	100M	-290M	2.1B	714M	-7.8B	613M	648M	799M	-5.5B
Net margin	3.87%	11%	12.5%	1.54%	-4.54%	32.4%	11.9%	-123.2%	9.83%	10.2%	13.2%	-87.2%
EBITDA	1.6B	1.4B	1.6B	1.7B	1.6B	1.6B	1.5B	1.6B	1.4B	1.4B	1.5B	8.6B
EPS	0.21	0.62	0.66	0.08	-0.24	1.77	0.6	-6.6	0.52	0.55	0.67	-4.6
Diluted EPS	0.21	0.61	0.66	0.08	-0.24	1.76	0.59	-6.6	0.52	0.55	0.67	-4.6

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	94.7B	52.5B	39.2B	42.4B	43.9B	49.9B	45.4B	37.2B	28.8B	27.9B
Enterprise value	—	124.6B	82.5B	66.2B	67.3B	62.3B	68.9B	64B	55.7B	46.3B	44.5B
Shares outstanding	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B	1.2B

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	8.66	—	20.3	117.4	42.9	21.1	15.9	13.5	—	13
P/S	—	3.63	2	1.57	1.62	1.69	1.88	1.7	1.44	1.15	1.12
P/B	—	1.43	1.01	0.76	0.84	0.89	1.02	0.91	0.75	0.69	0.78
EV/EBITDA	—	16	11.6	10.2	9.89	9.99	12.2	10.4	8.58	7.93	8.1
EV/Sales	—	4.78	3.14	2.65	2.57	2.39	2.6	2.4	2.15	1.86	1.79
Earnings yield	—	11.5%	—	4.93%	0.85%	2.33%	4.74%	6.27%	7.39%	—	7.69%
FCF yield	—	-0.73%	3.33%	7.1%	10.2%	10.1%	3.11%	6.53%	8.13%	12.7%	11.6%
PEG	—	—	—	—	—	—	—	—	—	—	-0.43

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	34.8%	34.6%	34%	32.6%	35%	33.3%	30.7%	33.5%	34.7%	33.3%	32.4%
Operating margin	21.4%	23.4%	23.2%	21.8%	22.3%	20.4%	17.7%	19.4%	20.7%	18.6%	15.5%
Net margin	13.7%	41.9%	-39%	7.74%	1.38%	3.93%	8.94%	10.7%	10.6%	-23.4%	-13.6%
ROE	6.26%	16.5%	-19.8%	3.74%	0.72%	2.07%	4.85%	5.72%	5.57%	-14%	-8.76%
ROA	2.99%	9.1%	-9.91%	1.91%	0.36%	1.1%	2.62%	3.15%	3.11%	-7.15%	3.63%
ROIC	4.78%	6.36%	7.43%	5.03%	2.73%	4.7%	5.52%	5.94%	7.89%	7.82%	8.06%
Return on tangible assets	-4.18%	-12.4%	15%	-2.89%	-0.6%	-1.82%	-4.19%	-5.13%	-5.57%	15.5%	10.9%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.92	0.71	1.21	1.03	1.34	0.99	0.87	0.99	1.06	1.15	1.06
Quick ratio	0.64	0.44	0.85	0.68	1	0.69	0.47	0.54	0.59	0.79	0.68
Debt / equity	0.56	0.48	0.6	0.57	0.56	0.44	0.41	0.4	0.4	0.51	0.53
Debt / assets	0.27	0.26	0.3	0.29	0.28	0.23	0.22	0.22	0.23	0.26	0.26
Net debt / EBITDA	3.8	3.85	4.24	4.17	3.66	2.94	3.37	3.02	2.86	3	1.27
Interest coverage	5.36	5.42	-7.82	2.96	1.74	1.83	4.22	4.98	1.94	-4.75	-4.75
Effective tax rate	27%	0%	0%	27.4%	65%	40%	20.2%	21.7%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	21.6	21.4	21.5	20.5	21.4	21.3	21.6	21.7	21.4	21	21
EPS (basic)	2.81	8.98	-8.36	1.59	0.29	0.83	1.93	2.33	2.27	-4.93	-4.93
EPS (diluted)	2.78	8.91	-8.36	1.58	0.29	0.82	1.91	2.31	2.26	-4.93	-2.88
Book value per share	47.3	54.2	42.5	42.4	41.1	40.4	39.9	40.5	40.8	35.2	30.4
FCF per share	1.15	-0.57	1.43	2.28	3.54	3.64	1.27	2.41	2.5	3.08	3.22
Cash per share	3.45	1.34	0.93	1.87	2.79	2.81	0.85	1.14	1.1	3.1	2.26
Capex per share	—	—	—	—	—	—	—	—	—	0.67	0.68

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	3.21%	3.23%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	18%	17.4%
Payout ratio	104.4%	26.4%	-31%	101%	542.4%	191.3%	82.8%	69%	70.3%	-32.5%	73.1%
Dividend yield	—	3.05%	6.07%	4.98%	4.62%	4.46%	3.93%	4.33%	5.2%	6.59%	6.79%

Yield

6.79%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.40

ex-dividend Sep 4, 2026

Payout ratio

73%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 4, 2026	$0.40
Jun 5, 2026	$0.40
Mar 6, 2026	$0.40
Nov 28, 2025	$0.40
Aug 29, 2025	$0.40
May 30, 2025	$0.40

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$6.6B	$6.9B	$6.4B	$6.5B	$6.4B	$6.6B	$6B	$6.4B	$6.2B	$6.4B	$6B	$6.3B
YoY change	+1%	-7.06%	-1.2%	-3.65%	-2.85%	-4.14%	-6.43%	-1.91%	-2.29%	-3.38%	+0.8%	-1.42%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	4.2B	1.6B	1.1B	2.3B	3.4B	3.4B	1B	1.4B	1.3B	3.7B
Receivables	898M	1.3B	2.1B	2B	2.1B	2B	2.1B	2.1B	2.1B	2.3B
Inventory	2.7B	2.8B	2.7B	2.7B	2.8B	2.7B	3.7B	3.6B	3.4B	3.2B
Total current assets	8.8B	7.2B	9.1B	8.1B	10.8B	9B	7.9B	7.9B	7.7B	10.1B
Property, plant & equipment	4.8B	4.8B	4.7B	4.6B	4.4B	4.3B	4.2B	4.4B	4.3B	4.2B
Goodwill & intangibles	206.8B	208.5B	171.9B	168.4B	159.5B	149.7B	147B	145.8B	137.5B	119.4B
Total assets	120.5B	120.1B	103.5B	101.5B	99.8B	93.4B	90.5B	90.3B	88.3B	81.8B
Accounts payable	4B	4.4B	4.2B	4B	4.3B	4.8B	4.8B	4.6B	4.2B	4.3B
Short-term debt	2.7B	3.2B	398M	1B	236M	754M	837M	638M	654M	1.9B
Total current liabilities	9.5B	10.2B	7.5B	7.9B	8.1B	9.1B	9B	8B	7.3B	8.8B
Long-term debt	29.7B	28.3B	30.8B	28.2B	28.1B	21.1B	19.2B	19.4B	19.2B	19.3B
Total liabilities	62.9B	54B	51.7B	49.7B	49.6B	43.9B	41.6B	40.6B	39B	40B
Shareholders' equity	57.6B	66.1B	51.8B	51.7B	50.2B	49.5B	48.9B	49.7B	49.3B	41.8B
Total debt	32.4B	31.5B	31.2B	29.2B	28.3B	21.8B	20.1B	20B	19.9B	21.2B
Net debt	28.2B	29.9B	30B	27B	24.9B	18.4B	19B	18.6B	18.5B	18.6B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	1.1B	1.4B	1.6B	900M	1.3B	1.3B	2.8B	2.6B	3.1B	3.7B	4.1B	2.7B
Receivables	2.1B	2.1B	2.2B	2.2B	2.2B	2.1B	2.3B	2.3B	2.3B	2.3B	2.3B	2.3B
Inventory	3.8B	3.6B	3.6B	3.6B	3.9B	3.4B	3.6B	3.6B	3.5B	3.2B	3.3B	3.3B
Total current assets	7.8B	7.9B	8.2B	7.5B	8.2B	7.7B	9.5B	9.2B	10B	10.1B	10.7B	9.3B
Property, plant & equipment	—	4.4B	—	—	—	4.3B	—	—	—	4.2B	—	—
Goodwill & intangibles	145.2B	145.8B	145.4B	143.7B	141.5B	137.5B	137.8B	120B	119.4B	119.4B	119.1B	104.2B
Total assets	89.7B	90.3B	90.3B	88.8B	88.6B	88.3B	90.3B	81.6B	81.7B	81.8B	82B	73.1B
Accounts payable	4.5B	4.6B	4.4B	4.4B	4.6B	4.2B	4.1B	4.3B	4.6B	4.3B	4.4B	4.5B
Short-term debt	608M	638M	622M	669M	708M	654M	678M	1.9B	1.9B	1.9B	1.9B	1.4B
Total current liabilities	7.8B	8B	7.6B	7.5B	7.7B	7.3B	7.2B	8.6B	8.9B	8.8B	8.9B	8.7B
Long-term debt	19.3B	19.4B	19.9B	19.3B	19.4B	19.2B	20.9B	19.3B	19.3B	19.3B	19.2B	17.6B
Total liabilities	40.2B	40.6B	40.6B	39.8B	40.1B	39B	40.7B	40.1B	40.1B	40B	40B	36.9B
Shareholders' equity	49.5B	49.7B	49.7B	49B	48.5B	49.3B	49.6B	41.5B	41.6B	41.8B	42B	36.1B
Total debt	19.9B	20B	20.5B	19.9B	20.1B	19.9B	21.6B	21.2B	21.2B	21.2B	21.1B	19B
Net debt	18.8B	18.6B	18.9B	19B	18.8B	18.5B	19.5B	19.6B	19.1B	18.6B	17.8B	16.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	3.6B	10.9B	-10.3B	1.9B	361M	1B	2.4B	2.8B	2.7B	-5.8B
Depreciation & amortization	1.3B	1B	983M	994M	969M	910M	933M	961M	948M	968M
Stock-based compensation	46M	46M	33M	46M	156M	197M	148M	141M	109M	95M
Change in working capital	-1.5B	-3.4B	-2.1B	-235M	458M	406M	-1.5B	-806M	-589M	230M
Operating cash flow	3B	744M	-13.2B	2.3B	1.5B	1.3B	1.6B	3.3B	257M	4.5B
Capital expenditure	—	—	—	—	—	—	—	—	—	-801M
Investing cash flow	2.8B	2.4B	1.1B	2.3B	74M	4.9B	-175M	97M	141M	-1.8B
Dividends paid	-3.8B	-2.9B	-3.2B	-2B	-2B	-2B	-2B	-2B	-1.9B	-1.9B
Share repurchases	-8.3B	0	0	—	—	-271M	-280M	-455M	-988M	-436M
Financing cash flow	-10.7B	-10.5B	-6.6B	-4.5B	-7.3B	-9.3B	-3.9B	-2.8B	-3B	-1.3B
Net change in cash	-4.9B	-7.4B	-18.6B	80M	-5.7B	-3.1B	-2.5B	573M	-2.6B	1.4B
Free cash flow	1.4B	-693M	1.7B	2.8B	4.3B	4.5B	1.6B	3B	3B	3.7B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	254M	757M	804M	100M	-290M	2.1B	714M	-7.8B	613M	648M	799M	-5.5B
Depreciation & amortization	274M	251M	230M	239M	245M	234M	231M	241M	245M	251M	245M	261M
Stock-based compensation	33M	31M	31M	34M	18M	26M	27M	26M	17M	25M	22M	31M
Change in working capital	-173M	46M	-342M	-176M	-117M	46M	-286M	169M	66M	281M	133M	269M
Operating cash flow	368M	1.4B	691M	89M	-341M	-178M	706M	1.2B	1.2B	1.4B	1B	1.1B
Capital expenditure	—	—	—	—	—	—	—	-187M	-171M	-205M	-240M	-189M
Investing cash flow	8M	25M	7M	44M	17M	-2M	-640M	-470M	-262M	-223M	185M	366M
Dividends paid	-492M	-491M	-486M	-483M	-483M	-479M	-477M	-474M	-473M	-474M	-474M	-475M
Share repurchases	—	—	-329M	-208M	-1M	-450M	-225M	-210M	0	-1M	-23M	-4M
Financing cash flow	-667M	-557M	-239M	-1.3B	-481M	-962M	900M	-647M	-340M	-488M	-512M	611M
Net change in cash	-291M	833M	459M	-1.2B	-805M	-1.1B	966M	92M	555M	665M	679M	2.1B
Free cash flow	765M	1.1B	477M	553M	849M	1.1B	482M	1B	986M	1.2B	766M	893M

The Kraft Heinz Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement