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Friday 6 November 2026
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Krispy Kreme, Inc.
DNUT Consumer Defensive Grocery Stores
Krispy Kreme, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, down 8.57% from fiscal 2024.
- Revenue
- −12.4%
- EPS
- +27.3%
- Free cash flow
- −44.0%
- Total debt
- −11.4%
Quarter to September 2026, against a year earlier
4.56
1.04
+29.55%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | 796 | 959 | 1,122 | 1,384 | 1,530 | 1,686 | 1,665 | 1,523 | 1,419 | +9.7% | 1,342 | 1,396 | 1,382 | (3.2%) | |
| Gross margin, % | — | — | 69.03 | 72.69 | 72.29 | 74.42 | 73.45 | 73.71 | 75.43 | 75.53 | 75.11 | +6.5 pt | ||||||
| EBT | — | — | (18) | (21) | (52) | (4) | (8) | (41) | 20 | (545) | (89) | +63.1% | ||||||
| EBT margin, % | — | — | (2.23) | (2.23) | (4.62) | (0.30) | (0.53) | (2.43) | 1.19 | (35.77) | (6.30) | (33.5) pt | ||||||
| Net income | — | 0 | (12) | (34) | (61) | (15) | (9) | (37) | 4 | (524) | (85) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 6.37 | 7.68 | 8.98 | 9.38 | 9.14 | 10.02 | 9.83 | 8.91 | 8.18 | +4.9% | |||||
| Earnings | — | — | (0.10) | (0.27) | (0.49) | (0.18) | (0.10) | (0.23) | 0.02 | (3.02) | (0.53) | +62.8% | ||||||
| Cash flow | — | — | 1.19 | 0.65 | 0.23 | 0.96 | 0.83 | 0.27 | 0.27 | 0.20 | 0.37 | (22.5%) | ||||||
| Capex | — | — | (0.33) | (0.61) | (0.76) | (0.81) | (0.66) | (0.72) | (0.71) | (0.55) | 0.00 | +7.7% | ||||||
| Free cash flow | — | — | 0.86 | 0.04 | (0.53) | 0.15 | 0.17 | (0.45) | (0.44) | (0.36) | 0.37 | n/m | ||||||
| Book value | — | — | 0.00 | 7.07 | 6.79 | 9.05 | 7.76 | 7.51 | 6.72 | 3.82 | 3.55 | n/m | ||||||
| Shares, m | — | — | 125 | 125 | 125 | 148 | 167 | 168 | 169 | 171 | 172 | +4.6% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 496.50 | 0.00 | 0.00 | 62.1 | |||||
| P/S | — | — | 2.16 | 2.16 | 2.16 | 2.02 | 1.14 | 1.47 | 1.01 | 0.45 | 0.56 | 1.6 | ||||||
| P/B | — | — | 3.38 | 3.38 | 3.38 | 2.09 | 1.35 | 1.96 | 1.48 | 1.05 | 1.28 | 2.3 | ||||||
| EV/Sales | — | — | 3.04 | 3.04 | 3.04 | 2.51 | 1.63 | 1.98 | 1.53 | 1.07 | 1.15 | 2.2 | ||||||
| EV/FCF | — | — | (112.39) | (112.39) | (112.39) | 158.18 | 85.46 | (44.03) | (34.14) | (26.62) | 229.39 | (24.8) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | 148 | 81 | 29 | 141 | 140 | 46 | 46 | 34 | 64 | (19.0%) | |||||
| Capex | — | — | (41) | (76) | (95) | (119) | (111) | (121) | (121) | (95) | (57) | +12.6% | ||||||
| Free cash flow | — | — | 107 | 4 | (66) | 22 | 29 | (76) | (75) | (61) | 64 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | (265) | (334) | (369) | (338) | (352) | (313) | (283) | (286) | +1.1% | |||||
| Net debt | — | — | — | 1,063 | 1,133 | 678 | 743 | 853 | 872 | 935 | 837 | (2.1%) | ||||||
| Shareholders’ equity | — | — | — | 883 | 848 | 1,336 | 1,299 | 1,264 | 1,137 | 653 | 616 | (4.9%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | 0.00 | (2.60) | (2.17) | (0.79) | (0.50) | (1.19) | 0.10 | (18.21) | 0.00 | (18.2) pt | |||||
| ROIC | — | — | 0.00 | 1.22 | 0.13 | 1.28 | 0.89 | 0.39 | (0.27) | (18.47) | (1.33) | (18.5) pt | ||||||
| ROE | — | — | 0.00 | (5.14) | (7.43) | (2.24) | (1.19) | (2.96) | 0.26 | (57.63) | 0.00 | (57.6) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 21,000 | 21,500 | 23,500 | 22,800 | 21,000 | 17,000 | — | (4.1%) | |||||
| Revenue/emp, $m | — | — | 0.00 | 0.00 | 0.05 | 0.06 | 0.07 | 0.07 | 0.08 | 0.09 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Krispy Kreme, Inc. vs peers in Grocery Stores (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| WMK Weis Markets, Inc. | $2.0B | 19.6× | 16.0× | +4.64% (above 0%: growing) | −8.91% (below 0%: shrinking) | +16,012.87% (above 0%: growing) | 25.75% | 2.28% | Compare |
| YSWY Yesway Inc. | $1.6B | — | — | — | — | — | 19.26% | 5.19% | Compare |
| IMKTA Ingles Markets, Incorporated | $1.6B | 15.1× | — (loss-making) | +1.64% (above 0%: growing) | −1.42% (below 0%: shrinking) | −4.33% (below 0%: shrinking) | 24.30% | 2.52% | Compare |
| GO Grocery Outlet Holding Corp. | $1.3B | — (loss-making) | — (loss-making) | +1.10% (above 0%: growing) | +20.00% (above 0%: growing) | −95.75% (below 0%: shrinking) | 30.24% | 1.32% | Compare |
| ASAIY Sendas Distribuidora S.A. Sponsored ADR | $1.3B | 10.9× | 7.5× | +13.15% (above 0%: growing) | +157.14% (above 0%: growing) | +90.96% (above 0%: growing) | 19.21% | 7.24% | Compare |
| DNUT Krispy Kreme, Inc. | $798.1M | — (loss-making) | — (loss-making) | −12.40% (below 0%: shrinking) | n/m | −43.97% (below 0%: shrinking) | 73.90% | (2.73%) | |
| NGVC Natural Grocers by Vitamin Cottage, Inc. | $674.3M | 14.2× | 13.8× | +1.84% (above 0%: growing) | −5.88% (below 0%: shrinking) | +130.15% (above 0%: growing) | 29.28% | 4.48% | Compare |
| VLGEA Village Super Market, Inc. | $569.1M | 10.8× | 12.3× | +1.65% (above 0%: growing) | −12.82% (below 0%: shrinking) | −11.47% (below 0%: shrinking) | 28.24% | 2.85% | Compare |
| DDL Dingdong (Cayman) Limited Sponsored ADR | $329.9M | 4.9× | 10.6× | −98.71% (below 0%: shrinking) | +200.00% (above 0%: growing) | −81.43% (below 0%: shrinking) | 15.27% | (96.20%) | Compare |
| Median of peers | $1.3B | 12.5× | 12.3× | +1.65% | −1.42% | −4.33% | 25.03% | 2.69% |
Pay and ownership Proxy statement filed 27 April 2026
Ownership
Directors and executive officers, together
1.60%
JAB Indulgence B.V. Piet Heinkade
43.00%
BNP Paribas SA
8.90%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement