KinderCare Learning Companies Inc. (KLC) 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	$0.1	$0.08	-20.0%	—	$697.5M	—
Q1 26	-$0.01	$0.04	+500.0%	—	$672.5M	—
Q4 25	$0.09	$0.12	+33.3%	—	$688.1M	—
Q3 25	$0.12	$0.13	+8.3%	—	$676.8M	—
Q2 25	$0.26	$0.22	-15.4%	—	$700.1M	—
Q1 25	$0.17	$0.23	+35.3%	—	$668.2M	—
Q4 24	$0.05	$0.09	+80.0%	—	$647M	—
Q3 24	-$0.02	$0.05	+350.0%	—	$671.5M	—

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	—	-$0.95	—	—	$2.7B	—
FY24	—	-$0.96	—	—	$2.7B	—
FY23	—	$1.13	—	—	$2.5B	—
FY22	—	$2.35	—	—	$2.2B	—
FY21

Total revenue

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

Period	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$1.7B	$1.9B	$1.4B	$1.8B	$2.2B	$2.5B	$2.7B	$2.7B
YoY change	—	+12%	-27.1%	+32.3%	+19.8%	+15.9%	+6.09%	+2.64%

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	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	1.7B	1.9B	1.4B	1.8B	2.2B	2.5B	2.7B	2.7B
Cost of revenue	1.3B	1.5B	1.2B	1.3B	1.4B	1.8B	2B	2.1B
Gross profit	345.6M	389.2M	214.5M	506.2M	741.2M	685.9M	630.5M	605.2M
Gross margin	20.6%	20.8%	15.7%	28%	34.2%	27.3%	23.7%	22.1%
Research & development	—	—	—	—	—	—	—	—
Selling, general & administrative	188.6M	202.7M	158.4M	204.2M	247.8M	288M	423.1M	297.2M
Operating expenses	188.6M	202.7M	158.4M	204.2M	247.8M	288M	423.1M	297.2M
Operating income	62.3M	87.3M	-31.8M	219.7M	404.9M	288.8M	89.9M	184M
Operating margin	3.72%	4.65%	-2.33%	12.2%	18.7%	11.5%	3.37%	6.73%
Non-operating income, net	-16.2M	-21.9M	-37.6M	-6.7M	-18.7M	-12.2M	-4.9M	-198.2M
Pretax income	-48.1M	-37.2M	-168.8M	116.5M	287.8M	129.9M	-78.2M	-93.3M
Income tax	-11.6M	-8.1M	-39.3M	28.1M	68.6M	27.4M	14.6M	19.5M
Net income	-36.4M	-29.1M	-129.5M	88.4M	219.2M	102.6M	-92.8M	-112.9M
Net margin	-2.17%	-1.55%	-9.48%	4.89%	10.1%	4.09%	-3.49%	-4.13%
EBITDA	158.3M	187.6M	57.1M	302.7M	493.2M	405.4M	220.4M	318.7M
EPS	-0.4	-0.32	-1.43	0.98	2.35	1.13	-0.96	-0.95
Diluted EPS	-0.4	-0.32	-1.43	0.98	2.35	1.13	-0.96	-0.95

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	Q4 22	Q3 23	Q4 23	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	575.2M	624.5M	618M	689.9M	671.5M	647M	668.2M	700.1M	676.8M	688.1M	672.5M	697.5M
Cost of revenue	404.4M	468.4M	467M	500M	521.1M	513.7M	516.2M	519.5M	543.1M	549.3M	550.9M	567.4M
Gross profit	170.9M	156M	151M	189.9M	150.4M	133.3M	152.1M	180.6M	133.7M	138.8M	121.6M	130.1M
Gross margin	29.7%	25%	24.4%	27.5%	22.4%	20.6%	22.8%	25.8%	19.8%	20.2%	18.1%	18.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	66.3M	68.5M	67.4M	78.6M	65.1M	188.9M	71.7M	78.6M	73M	73.8M	71.1M	73.1M
Operating expenses	66.3M	68.5M	67.4M	78.6M	65.1M	188.9M	71.7M	78.6M	73M	73.8M	71.1M	73.1M
Operating income	78.8M	60.5M	55.1M	82.1M	55.6M	-85.9M	50.4M	70.9M	29.6M	33.1M	19.4M	25.3M
Operating margin	13.7%	9.69%	8.92%	11.9%	8.29%	-13.3%	7.53%	10.1%	4.38%	4.81%	2.88%	3.63%
Non-operating income, net	-7.5M	-2.5M	-6.8M	-1M	680K	-3.5M	-1.9M	814K	-1.1M	-196M	-292.4M	-18.6M
Pretax income	41.6M	21.1M	11.8M	38.9M	18.1M	-137.8M	29M	53.1M	6.2M	-181.6M	-290.4M	-10.5M
Income tax	6.1M	5.1M	-3M	10.4M	4.2M	-4.3M	7.8M	14.5M	1.7M	-4.4M	-535K	-1.8M
Net income	35.5M	16M	14.8M	28.5M	14M	-133.6M	21.2M	38.6M	4.5M	-177.2M	-289.8M	-8.8M
Net margin	6.18%	2.57%	2.4%	4.14%	2.08%	-20.6%	3.17%	5.51%	0.67%	-25.7%	-43.1%	-1.26%
EBITDA	103.7M	88.4M	85.3M	113.6M	88.5M	-53.5M	80.6M	106.5M	64.6M	67M	50.4M	62.3M
EPS	—	0.18	—	—	0.12	-1.17	0.18	0.33	0.04	-1.5	-2.45	-0.07
Diluted EPS	—	0.18	—	—	0.12	-1.17	0.18	0.33	0.04	-1.5	-2.45	-0.07

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	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	—	—	—	238.2M
Enterprise value	—	—	—	—	—	—	—	—	2.6B
Shares outstanding	90.4M	90.4M	90.4M	90.5M	93.4M	90.4M	96.3M	118.3M	118.3M

Valuation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	—	—	—	28.1
P/S	—	—	—	—	—	—	—	—	0.09
P/B	—	—	—	—	—	—	—	—	0.54
EV/EBITDA	—	—	—	—	—	—	—	—	11.1
EV/Sales	—	—	—	—	—	—	—	—	0.95
Earnings yield	—	—	—	—	—	—	—	—	3.56%
FCF yield	—	—	—	—	—	—	—	—	17.3%
PEG	—	—	—	—	—	—	—	—	-0.23

Profitability

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	20.6%	20.8%	15.7%	28%	34.2%	27.3%	23.7%	22.1%	18.7%
Operating margin	3.72%	4.65%	-2.33%	12.2%	18.7%	11.5%	3.37%	6.73%	3.63%
Net margin	-2.17%	-1.55%	-9.48%	4.89%	10.1%	4.09%	-3.49%	-4.13%	-17.2%
ROE	—	-12.2%	-95%	34.6%	53.8%	20.2%	-10.7%	-14.9%	-67.8%
ROA	—	-0.88%	-3.96%	2.55%	5.98%	2.81%	-2.55%	-3.01%	1.86%
ROIC	—	2.96%	-1.09%	5.63%	9.76%	7.49%	2.81%	5.85%	3.83%
Return on tangible assets	—	-6.9%	-30.9%	14.3%	38.9%	18.5%	-17%	-11.6%	-39.8%

Financial health

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	0.36	0.41	0.8	0.57	0.66	0.52	0.74	0.74
Quick ratio	—	0.36	0.41	0.8	0.57	0.66	0.52	0.74	0.75
Debt / equity	—	11.5	20.9	11.3	7.01	5.31	2.77	3.34	5.39
Debt / assets	—	0.83	0.87	0.83	0.78	0.74	0.66	0.67	0.74
Net debt / EBITDA	—	14.4	49	8.95	5.58	6.26	10.6	7.51	9.57
Interest coverage	0.49	0.64	-0.7	2.21	3.84	1.85	0.54	-0.11	-4.93
Effective tax rate	0%	0%	0%	24.1%	23.8%	21.1%	0%	0%	0%

Per share

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	18.5	20.8	15.1	20	23.2	27.8	27.7	23.1	23.1
EPS (basic)	-0.4	-0.32	-1.43	0.98	2.35	1.13	-0.96	-0.95	-0.95
EPS (diluted)	-0.4	-0.32	-1.43	0.98	2.35	1.13	-0.96	-0.95	-3.98
Book value per share	—	2.64	1.51	2.83	4.37	5.61	8.98	6.38	3.93
FCF per share	0.03	0.25	-0.38	1.29	2.17	1.93	-0.17	0.93	0.68
Cash per share	—	0.45	0.59	1.96	1.13	1.73	0.65	1.13	1.47
Capex per share	0.97	1	0.52	0.73	1.49	1.13	1.34	—	—

Capital allocation

Metric	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	5.23%	4.84%	3.42%	3.65%	6.42%	4.07%	4.86%	—	—
Capex / operating cash flow	117%	99.6%	-234.4%	31.2%	43.6%	38.4%	142%	—	—
Payout ratio	—	—	—	—	—	0%	-344.7%	0%	0%

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	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	40.3M	53.2M	177.2M	105.2M	156.1M	62.3M	133.2M
Receivables	66.8M	61.1M	73.6M	70M	88.1M	104.3M	118.5M
Inventory	—	—	—	—	—	—	—
Total current assets	121.5M	136.7M	304.2M	233.5M	283.4M	214.8M	358M
Property, plant & equipment	1.7B	1.7B	1.7B	1.8B	1.8B	1.8B	1.9B
Goodwill & intangibles	2.9B	2.8B	2.9B	3.1B	3.1B	3.1B	2.8B
Total assets	3.3B	3.3B	3.5B	3.7B	3.7B	3.6B	3.7B
Accounts payable	30.7M	39.7M	47.9M	56.7M	50.6M	45.3M	48.9M
Short-term debt	141.7M	136.9M	151.5M	153.4M	148.4M	153.9M	157.2M
Total current liabilities	341.7M	330.4M	380.2M	410.2M	426.5M	412.8M	484.9M
Long-term debt	2.6B	2.7B	2.7B	2.7B	2.5B	2.2B	2.4B
Total liabilities	3.1B	3.1B	3.2B	3.3B	3.1B	2.8B	3B
Shareholders' equity	238.5M	136.3M	255.6M	407.7M	506.9M	864.5M	755.3M
Total debt	2.7B	2.8B	2.9B	2.9B	2.7B	2.4B	2.5B
Net debt	2.7B	2.8B	2.7B	2.8B	2.5B	2.3B	2.4B

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	Q1 22	Q4 22	Q4 23	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	311.2M	105.2M	156.1M	95.7M	137.2M	62.3M	131.3M	119M	174.7M	133.2M	132.9M	173.7M
Receivables	60.9M	70M	88.1M	100.3M	100.9M	104.3M	95.9M	112.7M	103.3M	118.5M	106.8M	114.3M
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	436.4M	233.5M	283.4M	250.9M	302.8M	214.8M	284.7M	276.4M	334.1M	358M	344M	342.1M
Property, plant & equipment	1.7B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B	1.9B	1.9B	1.9B	1.9B	1.9B
Goodwill & intangibles	2.8B	3.1B	3.1B	3.1B	3.1B	3.1B	3.1B	3.1B	3.1B	2.8B	2.2B	2.2B
Total assets	3.6B	3.7B	3.7B	3.7B	3.7B	3.6B	3.7B	3.8B	3.9B	3.7B	3.4B	3.4B
Accounts payable	164.4M	56.7M	50.6M	156.2M	66.3M	45.3M	183.6M	173.5M	198.2M	48.9M	154.2M	174.8M
Short-term debt	147.1M	153.4M	148.4M	159.1M	160.6M	153.9M	159.6M	158.5M	174.5M	157.2M	159.4M	173.6M
Total current liabilities	418.9M	410.2M	426.5M	442.8M	504.5M	412.8M	470.4M	420.2M	469.5M	484.9M	468M	459.1M
Long-term debt	2.7B	2.7B	2.5B	2.8B	2.8B	2.2B	2.2B	2.3B	2.3B	2.4B	2.4B	2.3B
Total liabilities	3.3B	3.3B	3.1B	3.4B	3.5B	2.8B	2.8B	2.9B	3B	3B	3B	2.9B
Shareholders' equity	328.6M	407.7M	506.9M	237.4M	235.6M	864.5M	884.9M	924.3M	931.2M	755.3M	471.1M	466.2M
Total debt	2.9B	2.9B	2.7B	3B	3B	2.4B	2.4B	2.5B	2.5B	2.5B	2.5B	2.5B
Net debt	2.6B	2.8B	2.5B	2.9B	2.8B	2.3B	2.3B	2.4B	2.3B	2.4B	2.4B	2.3B

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	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-36.4M	-29.1M	-129.5M	88.4M	219.2M	102.6M	-92.8M	-112.9M
Depreciation & amortization	95.9M	99.3M	87.9M	82.3M	88.5M	109M	117.6M	124M
Stock-based compensation	2.2M	-74K	1.5M	909K	9.9M	12.6M	144.1M	11.8M
Change in working capital	19.9M	25M	53M	10.6M	-29.4M	50.8M	-54.7M	56.3M
Operating cash flow	74.9M	91.2M	-19.9M	211.4M	319.4M	266M	91.2M	238.5M
Capital expenditure	-87.6M	-90.8M	-46.8M	-66M	-139.1M	-102.2M	-129.4M	—
Investing cash flow	-295.5M	-94.5M	-48.5M	-80.2M	-299.7M	-117.7M	-147.2M	-26.4M
Dividends paid	—	—	—	—	—	0	-320M	0
Share repurchases	—	—	—	0	-72.7M	0	0	—
Financing cash flow	196.8M	-38.7M	-50.2M	20.9M	-117.7M	-134.9M	-62.6M	-13.3M
Net change in cash	-23.8M	-42M	-118.7M	152.2M	-98M	13.4M	-118.7M	198.8M
Free cash flow	2.8M	23M	-34.6M	116.4M	202.2M	174.5M	-16.4M	110.3M

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	—	14.8M	—	—	—	—	—	—	4.5M	-177.2M	-289.8M	-8.8M
Depreciation & amortization	—	28.5M	—	—	—	—	—	—	31M	31.9M	31.1M	31.7M
Stock-based compensation	—	-1.3M	—	—	—	—	—	—	2.8M	1.7M	2.5M	1.7M
Change in working capital	—	-30.7M	—	—	—	—	—	—	58.3M	-2.4M	-8M	-21.1M
Operating cash flow	—	-572K	—	—	—	—	—	—	100.8M	4.3M	31.1M	73.4M
Capital expenditure	—	-13.3M	—	—	—	—	—	—	—	—	—	—
Investing cash flow	51K	-21.1M	1.5M	96K	54K	194K	3.1M	548K	-4M	-7.8M	1.3M	-1.8M
Dividends paid	—	—	—	—	—	—	—	—	0	0	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	—	-7.2M	—	—	—	—	—	—	-2.9M	-5.8M	-2.8M	-2.8M
Net change in cash	51K	-28.8M	1.5M	96K	54K	194K	3.1M	548K	93.9M	-9.3M	29.6M	68.9M
Free cash flow	—	-43.5M	—	—	—	—	—	—	62.6M	-28.1M	1.1M	45.4M

KinderCare Learning Companies Inc. 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

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