The Kroger Co.
KR Consumer Defensive Grocery Stores
The Kroger Co.’s revenue for fiscal 2026 (year ended January 2026) was $147.6 billion, roughly unchanged from fiscal 2025. In the quarter to July 2026, revenue grew 2.01%, EPS grew 15.4%, free cash flow fell 72.9% and total debt fell 5.36%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for five consecutive years.
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The Kroger Co. (KR) Altman Z-score
The Kroger Co.'s Altman Z-score for fiscal 2026 is 4.36, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 4.36 | (0.02) |
| FY2025 | 4.38 | 0.03 |
| FY2024 | 4.36 | 0.00 |
| FY2023 | 4.36 | 0.24 |
| FY2022 | 4.12 | 0.21 |
| FY2021 | 3.91 | 0.13 |
| FY2020 | 3.78 | (0.71) |
| FY2019 | 4.49 | (0.13) |
| FY2018 | 4.62 | 0.00 |
| FY2017 | 4.63 | (0.26) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.07) | — | −0.09 | |
| Retained earnings / total assets | 0.58 | — | 0.81 | |
| EBIT / total assets | 0.04 | — | 0.12 | |
| Market value of equity / total liabilities | 0.93 | — | 0.56 | |
| Sales / total assets | 2.96 | — | 2.96 | |
| Altman Z-score | Safe zone | 4.36 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.81 | ||
Z and Z″ put The Kroger Co. in different zones: safe zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| WMK Weis Markets, Inc. compare | 5.4× |
| SFM Sprouts Farmers Market, Inc. compare | 4.5× |
| KR The Kroger Co. | 4.4× |
| IMKTA Ingles Markets, Incorporated compare | 4.3× |
| NGVC Natural Grocers by Vitamin Cottage, Inc. compare | 3.8× |
| VLGEA Village Super Market, Inc. compare | 3.7× |
| ACI Albertsons Companies, Inc. compare | 3.5× |
| ASAIY Sendas Distribuidora S.A. Sponsored ADR compare | 2.2× |
| GO Grocery Outlet Holding Corp. compare | 1.7× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on KR
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement