Kraft Heinz (KHC)
Consumer Staples · $28.5B market cap · SEC CIK 0001637459
fundamentals score out of 100
Next reports on Oct 27, 2026, before the open, with analysts expecting $0.43 in earnings per share.
The case for KHC
- Trades at 0.80× book value, below what the balance sheet says it owns.
- Free cash flow of 12.9% of its market value a year: a lot of cash for the price.
- Pays a 4.6% dividend while you wait.
- Moves less than the market (beta 0.12).
The case against
- Losing money over the last year: net margin -13.6%, return on equity -8%.
- Pays a dividend while losing money over the last twelve months.
- Revenue was flat on the year (-1.6%).
- Revenue has shrunk 1.0% a year over five years.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Staples companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 47 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 25 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 12 |
| Momentumhow the price has behaved lately | 48 |
| Stabilityhow violently it moves, what it owes and what it pays you | 88 |
- It is losing money, so it has no P/E; that counts against value rather than being skipped.
- Each factor except momentum is half fixed thresholds, half rank among the 36 Consumer Staples companies.
Key numbers
| Price / earnings | n/a |
|---|---|
| Price / book | 0.80× |
| Price / sales | 1.1× |
| Revenue growth (YoY) | -1.6% |
| EPS growth (YoY) | — |
| Gross margin | 33% |
| Operating margin | -13% |
| Net margin | -14% |
| Return on equity | -8% |
| Debt / equity | 0.53× |
| Current ratio | 1.06 |
| Dividend yield | 4.58% |
| Beta | 0.12 |
| 52-week range | $21.04 – $28.09 |
| Position in that range | 42% of the way up |
| 3-month return | +6.8% |
| 1-year return | -7.8% |
Five years of financials, as filed
Pulled from Kraft Heinz's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $24.9B | $25.8B | $26.6B | $26.5B | $26.0B |
| Gross profit | $8.3B | $9.0B | $8.9B | $8.1B | $8.7B |
| Operating income | -$4.7B | $1.7B | $4.6B | $3.6B | $3.5B |
| Net income | -$5.8B | $2.7B | $2.9B | $2.4B | $1.0B |
| Operating cash flow | $4.5B | $4.2B | $4.0B | $2.5B | $5.4B |
| Capital expenditure | $801M | $1.0B | $1.0B | $916M | $905M |
| Total assets | $81.8B | $88.3B | $90.3B | $90.5B | $93.4B |
| Total liabilities | $40.0B | $39.0B | $40.6B | $41.6B | $43.9B |
| Shareholder equity | $41.7B | $49.2B | $49.5B | $48.7B | $49.3B |
| Cash | $2.6B | $1.3B | $1.4B | $1.0B | $3.4B |
| Free cash flow | $3.7B | $3.2B | $3.0B | $1.6B | $4.5B |
| Gross margin | 33.3% | 34.7% | 33.5% | 30.7% | 33.3% |
| Operating margin | -18.7% | 6.5% | 17.2% | 13.7% | 13.3% |
| Net margin | -23.4% | 10.6% | 10.7% | 8.9% | 3.9% |
| Diluted shares | 1.2B | 1.2B | 1.2B | 1.2B | 1.2B |
Share count is down 4.0% over 4 years. Buybacks have been shrinking the pie.
What Kraft Heinz says it does
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…
Risk factors KHC lists in its 10-K
- We operate in a highly competitive industry
- Our success depends on our ability to correctly predict, identify, and interpret changes in consumer preferences and demand, to offer new products to meet those changes, and to respond to competitive innovation
- Changes in the retail landscape or the loss of key retail customers could adversely affect our financial performance
- Changes in our relationships with significant customers or suppliers, or in other business relationships, could adversely impact us
- Maintaining, extending, and expanding our reputation and brand image are essential to our business success
- We must leverage our brand value to compete against private label products
- We may be unable to drive revenue growth in our key product categories or platforms, increase our market share, or add products that are in faster-growing and more profitable categories
- Product recalls or other product liability claims could materially and adversely affect us
- Changes in environmental conditions and responsive legislation or regulation may have a long-term adverse impact on our business and results of operations
- The Separation is subject to various risks and uncertainties, involves significant time, expense, and resources and may be further delayed or we may decide to cease work related to the Separation entirely
- The Separation if completed, may not achieve the anticipated benefits and will expose us to new risks
- The Separation if completed, may adversely impact our ability to access the capital markets and our cost of capital
- If the Separation and/or certain related transactions do not qualify as transactions that are generally tax-free for U.S. federal income tax purposes, we and our stockholders could be subject to significant tax liabilities
- Following the Separation, the price of shares of the Company’s common stock may fluctuate significantly