Krispy Kreme, Inc. Financials

DNUT

Source SEC Filings (10-K/10-Q) Updated Sep 28, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 18/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Krispy Kreme, Inc. has an operating margin of -0.5%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 0.8% the prior year.

Growth

Krispy Kreme, Inc.'s revenue declined 1.2% year-over-year, from $1.7B to $1.7B. This contraction results in a growth score of 25/100.

Leverage

Krispy Kreme, Inc. carries a low D/E ratio of 0.74, meaning only $0.74 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Krispy Kreme, Inc.'s current ratio of 0.36 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 0/100, which could limit financial flexibility.

Cash Flow

While Krispy Kreme, Inc. generated $45.8M in operating cash flow, capex of $120.8M consumed most of it, leaving -$75.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Krispy Kreme, Inc. generates a 0.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 1/100.

Piotroski F-Score Neutral

6/9

Krispy Kreme, Inc. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

14.81x

For every $1 of reported earnings, Krispy Kreme, Inc. generates $14.81 in operating cash flow ($45.8M OCF vs $3.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows Krispy Kreme, Inc. (DNUT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$1.7B

YoY-1.2%

Krispy Kreme, Inc. generated $1.7B in revenue in fiscal year 2024. This represents a decrease of 1.2% from the prior year.

EBITDA

$124.9M

YoY-10.2%

Krispy Kreme, Inc.'s EBITDA was $124.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 10.2% from the prior year.

Free Cash Flow

-$75.0M

YoY+1.2%

Krispy Kreme, Inc. generated -$75.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 1.2% from the prior year.

Net Income

$3.1M

YoY+108.2%

Krispy Kreme, Inc. reported $3.1M in net income in fiscal year 2024. This represents an increase of 108.2% from the prior year.

EPS (Diluted)

$0.02

YoY+108.7%

Krispy Kreme, Inc. earned $0.02 per diluted share (EPS) in fiscal year 2024. This represents an increase of 108.7% from the prior year.

Cash & Debt

$29.0M

YoY-24.2%

Krispy Kreme, Inc. held $29.0M in cash against $844.5M in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.04

YoY+0.0%

Krispy Kreme, Inc. paid $0.04 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

170M

YoY+1.0%

Krispy Kreme, Inc. had 170M shares outstanding in fiscal year 2024. This represents an increase of 1.0% from the prior year.

Gross Margin

N/A

Operating Margin

-0.5%

YoY-1.3pp

Krispy Kreme, Inc.'s operating margin was -0.5% in fiscal year 2024, reflecting core business profitability. This is down 1.3 percentage points from the prior year.

Net Margin

0.2%

YoY+2.4pp

Krispy Kreme, Inc.'s net profit margin was 0.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.4 percentage points from the prior year.

Return on Equity

0.3%

Krispy Kreme, Inc.'s ROE was 0.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

$5.5M

YoY+192.0%

Krispy Kreme, Inc. spent $5.5M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 192.0% from the prior year.

Capital Expenditures

$120.8M

YoY-0.5%

Krispy Kreme, Inc. invested $120.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 0.5% from the prior year.

DNUT Income Statement

Metric	FY24	FY23	FY22	FY21	FY19
Revenue	$1.7B-1.2%	$1.7B+21.8%	$1.4B+23.4%	$1.1B+17.0%	$959.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$274.3M+2.8%	$266.9M+20.0%	$222.4M+22.0%	$182.3M+12.9%	$161.5M
Operating Income	-$8.7M-166.5%	$13.1M-68.0%	$41.1M+860.3%	$4.3M-88.7%	$38.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A
Income Tax	$16.0M+467.0%	-$4.3M-140.5%	$10.7M+17.9%	$9.1M-27.6%	$12.6M
Net Income	$3.1M+108.2%	-$37.9M-54.8%	-$24.5M+61.9%	-$64.3M-71.9%	-$37.4M
EPS (Diluted)	$0.02+108.7%	$-0.23-27.8%	$-0.18+65.4%	$-0.52-73.3%	$-0.30

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$375.3M-1.2%	$379.8M+1.2%	$375.2M-7.1%	$404.0M-7.9%	$438.8M-0.9%	$442.7M-1.8%	$450.9M+10.7%	$407.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$49.4M-21.5%	$62.9M+5.9%	$59.4M-11.5%	$67.2M+4.2%	$64.5M-9.9%	$71.6M-3.9%	$74.5M+9.1%	$68.3M
Operating Income	-$7.2M+98.3%	-$434.6M-2043.9%	-$20.3M-76.3%	-$11.5M-267.6%	$6.9M-42.4%	$11.9M+323.2%	-$5.3M-152.5%	-$2.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$2.8M+86.2%	-$20.5M-666.9%	-$2.7M-12.2%	-$2.4M+34.2%	-$3.6M-184.7%	$4.3M+119.9%	-$21.5M-188.1%	$24.4M
Net Income	-$19.4M+95.5%	-$435.3M-1207.7%	-$33.3M-48.3%	-$22.4M-308.7%	-$5.5M+35.7%	-$8.5M-427.0%	$2.6M+106.5%	-$40.5M
EPS (Diluted)	$-0.11+95.7%	$-2.55-1175.0%	$-0.20-53.8%	$-0.13-333.3%	$-0.03+40.0%	$-0.05-600.0%	$0.01+104.2%	$-0.24

DNUT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY19
Total Assets	$3.1B-5.2%	$3.2B+3.4%	$3.1B-0.4%	$3.1B	N/A
Current Assets	$172.9M-0.4%	$173.6M+16.0%	$149.7M-4.6%	$156.9M	N/A
Cash & Equivalents	$29.0M-24.2%	$38.2M+20.8%	$31.6M-37.6%	$50.6M+43.2%	$35.4M
Inventory	$28.1M-19.0%	$34.7M-15.4%	$41.0M+17.8%	$34.9M	N/A
Accounts Receivable	$67.7M+47.7%	$45.9M+2.6%	$44.7M+8.7%	$41.1M	N/A
Goodwill	$1.0B-4.9%	$1.1B-0.3%	$1.1B0.0%	$1.1B+5.3%	$1.0B
Total Liabilities	$1.9B-3.5%	$2.0B+11.2%	$1.8B-1.8%	$1.8B	N/A
Current Liabilities	$486.2M-7.5%	$525.6M+6.1%	$495.2M-5.9%	$526.2M	N/A
Long-Term Debt	$844.5M+0.9%	$836.6M+22.9%	$680.7M+0.1%	$680.3M	N/A
Total Equity	$1.1B-3.0%	$1.2B-6.4%	$1.3B+44.8%	$863.4M-2.3%	$883.4M
Retained Earnings	-$299.6M-7.4%	-$279.0M-54.8%	-$180.3M-1.0%	-$178.4M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$2.6B-1.2%	$2.6B-14.9%	$3.1B+0.6%	$3.1B-4.7%	$3.2B-0.3%	$3.2B-0.2%	$3.2B+1.7%	$3.2B
Current Assets	$161.8M+4.7%	$154.6M-2.2%	$158.0M-8.6%	$172.9M+2.8%	$168.2M-3.4%	$174.0M+0.2%	$173.6M+8.4%	$160.1M
Cash & Equivalents	$30.7M+44.4%	$21.3M+13.6%	$18.7M-35.4%	$29.0M+1.2%	$28.6M-13.6%	$33.1M-13.2%	$38.2M+48.5%	$25.7M
Inventory	$28.1M-16.7%	$33.7M+6.9%	$31.5M+12.1%	$28.1M-28.7%	$39.5M+0.5%	$39.3M+13.1%	$34.7M-1.0%	$35.1M
Accounts Receivable	$53.8M-6.0%	$57.3M-17.4%	$69.3M+2.4%	$67.7M+18.1%	$57.3M+0.1%	$57.3M+24.9%	$45.9M-8.0%	$49.9M
Goodwill	$708.4M-0.5%	$711.8M-32.4%	$1.1B+0.5%	$1.0B-4.4%	$1.1B-0.2%	$1.1B-0.3%	$1.1B+0.9%	$1.1B
Total Liabilities	$1.9B-0.3%	$1.9B-2.3%	$2.0B+2.6%	$1.9B-4.3%	$2.0B+0.4%	$2.0B+0.5%	$2.0B+2.0%	$1.9B
Current Liabilities	$448.9M-1.9%	$457.6M+1.8%	$449.5M-7.6%	$486.2M-1.5%	$493.6M+0.7%	$490.1M-6.8%	$525.6M+0.1%	$525.0M
Long-Term Debt	$906.2M+1.9%	$889.4M-4.9%	$935.0M+10.7%	$844.5M-5.6%	$895.0M+1.5%	$881.8M+5.4%	$836.6M+1.1%	$827.4M
Total Equity	$670.3M-3.4%	$693.6M-37.0%	$1.1B-2.9%	$1.1B-0.1%	$1.1B-1.5%	$1.2B-1.4%	$1.2B+1.5%	$1.2B
Retained Earnings	-$793.6M-2.5%	-$774.2M-128.4%	-$338.9M-13.1%	-$299.6M+1.7%	-$304.8M-3.9%	-$293.4M-5.2%	-$279.0M-1.2%	-$275.7M

DNUT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY19
Operating Cash Flow	$45.8M+0.6%	$45.5M-67.8%	$141.2M+392.5%	$28.7M-64.5%	$80.8M
Capital Expenditures	$120.8M-0.5%	$121.4M+1.6%	$119.5M+22.2%	$97.8M+28.1%	$76.4M
Free Cash Flow	-$75.0M+1.2%	-$75.9M-449.3%	$21.7M+131.4%	-$69.2M-1657.8%	$4.4M
Investing Cash Flow	$19.3M+117.1%	-$112.6M+26.6%	-$153.4M+8.8%	-$168.1M+25.8%	-$226.6M
Financing Cash Flow	-$73.9M-202.9%	$71.9M+346.5%	$16.1M-88.5%	$139.4M+8.0%	$129.1M
Dividends Paid	$23.7M+0.6%	$23.6M-51.1%	$48.2M+114631.0%	$42K-98.4%	$2.6M
Share Buybacks	$5.5M+192.0%	$1.9M-98.6%	$139.1M	$0	$0

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$42.3M+229.9%	-$32.5M-56.2%	-$20.8M-177.0%	$27.0M-18.6%	$33.2M+287.7%	-$17.7M-1271.0%	$1.5M+168.1%	-$2.2M
Capital Expenditures	$26.7M-5.2%	$28.2M+8.9%	$25.9M-23.6%	$33.9M+7.1%	$31.7M+9.0%	$29.1M-11.4%	$32.8M-4.4%	$34.3M
Free Cash Flow	$15.5M+125.6%	-$60.8M-30.0%	-$46.7M-580.2%	-$6.9M-540.7%	$1.6M+103.3%	-$46.8M-49.4%	-$31.3M+14.3%	-$36.5M
Investing Cash Flow	-$27.5M-148.5%	$56.7M+319.9%	-$25.8M-1.4%	-$25.5M+29.5%	-$36.1M-24.3%	-$29.0M+15.1%	-$34.2M+0.1%	-$34.3M
Financing Cash Flow	-$3.9M+81.3%	-$20.6M-155.8%	$36.8M+982.6%	$3.4M+202.0%	-$3.3M-107.6%	$43.6M-1.7%	$44.3M+25.1%	$35.4M
Dividends Paid	$0-100.0%	$6.0M+0.2%	$6.0M+0.2%	$5.9M+0.7%	$5.9M+0.1%	$5.9M0.0%	$5.9M+0.3%	$5.9M
Share Buybacks	$397K-40.2%	$664K+439.8%	$123K-89.0%	$1.1M-67.6%	$3.5M+331.7%	$804K+196.7%	$271K-81.5%	$1.5M

DNUT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	-0.5%-1.3pp	0.8%-2.2pp	3.0%+2.6pp	0.4%-3.6pp	4.0%
Net Margin	0.2%+2.4pp	-2.3%-0.5pp	-1.8%+4.0pp	-5.7%-1.8pp	-3.9%
Return on Equity	0.3%	N/A	N/A	N/A	N/A
Return on Assets	0.1%+1.3pp	-1.2%-0.4pp	-0.8%+1.3pp	-2.0%	N/A
Current Ratio	0.36+0.0	0.33+0.0	0.300.0	0.30	N/A
Debt-to-Equity	0.74+0.0	0.72+0.2	0.54-0.2	0.79	N/A
FCF Margin	-4.5%0.0pp	-4.5%-6.1pp	1.6%+7.7pp	-6.2%-6.6pp	0.5%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-1.9%+112.5pp	-114.4%-109.0pp	-5.4%-2.5pp	-2.9%-4.4pp	1.6%-1.1pp	2.7%+3.9pp	-1.2%-0.7pp	-0.5%
Net Margin	-5.2%+109.4pp	-114.6%-105.7pp	-8.9%-3.3pp	-5.5%-4.3pp	-1.3%+0.7pp	-1.9%-2.5pp	0.6%+10.5pp	-9.9%
Return on Equity	N/A	N/A	N/A	3.4%	N/A	N/A	0.2%	N/A
Return on Assets	-0.8%+15.8pp	-16.6%-15.5pp	-1.1%-0.4pp	-0.7%-0.6pp	-0.2%+0.1pp	-0.3%-0.3pp	0.1%+1.4pp	-1.3%
Current Ratio	0.36+0.0	0.34-0.0	0.350.0	0.36+0.0	0.34-0.0	0.36+0.0	0.33+0.0	0.30
Debt-to-Equity	1.35+0.1	1.28+0.4	0.85+0.1	0.74-0.0	0.79+0.0	0.76+0.0	0.720.0	0.72
FCF Margin	4.1%+20.1pp	-16.0%-3.5pp	-12.5%-10.8pp	-1.7%-2.1pp	0.4%+10.9pp	-10.6%-3.6pp	-6.9%+2.0pp	-9.0%

Note: The current ratio is below 1.0 (0.36), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

What is Krispy Kreme, Inc.'s annual revenue?

Krispy Kreme, Inc. (DNUT) reported $1.7B in total revenue for fiscal year 2024. This represents a -1.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Krispy Kreme, Inc.'s revenue growing?

Krispy Kreme, Inc. (DNUT) revenue declined by 1.2% year-over-year, from $1.7B to $1.7B in fiscal year 2024.

Is Krispy Kreme, Inc. profitable?

Yes, Krispy Kreme, Inc. (DNUT) reported a net income of $3.1M in fiscal year 2024, with a net profit margin of 0.2%.

What is Krispy Kreme, Inc.'s earnings per share (EPS)?

Krispy Kreme, Inc. (DNUT) reported diluted earnings per share of $0.02 for fiscal year 2024. This represents a 108.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Krispy Kreme, Inc.'s EBITDA?

Krispy Kreme, Inc. (DNUT) had EBITDA of $124.9M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Krispy Kreme, Inc. have?

As of fiscal year 2024, Krispy Kreme, Inc. (DNUT) had $29.0M in cash and equivalents against $844.5M in long-term debt.

What is Krispy Kreme, Inc.'s operating margin?

Krispy Kreme, Inc. (DNUT) had an operating margin of -0.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Krispy Kreme, Inc.'s net profit margin?

Krispy Kreme, Inc. (DNUT) had a net profit margin of 0.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Krispy Kreme, Inc. pay dividends?

Yes, Krispy Kreme, Inc. (DNUT) paid $0.04 per share in dividends during fiscal year 2024.

What is Krispy Kreme, Inc.'s return on equity (ROE)?

Krispy Kreme, Inc. (DNUT) has a return on equity of 0.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Krispy Kreme, Inc.'s free cash flow?

Krispy Kreme, Inc. (DNUT) generated -$75.0M in free cash flow during fiscal year 2024. This represents a 1.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Krispy Kreme, Inc.'s operating cash flow?

Krispy Kreme, Inc. (DNUT) generated $45.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Krispy Kreme, Inc.'s total assets?

Krispy Kreme, Inc. (DNUT) had $3.1B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Krispy Kreme, Inc.'s capital expenditures?

Krispy Kreme, Inc. (DNUT) invested $120.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Does Krispy Kreme, Inc. buy back shares?

Yes, Krispy Kreme, Inc. (DNUT) spent $5.5M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Krispy Kreme, Inc. have outstanding?

Krispy Kreme, Inc. (DNUT) had 170M shares outstanding as of fiscal year 2024.

What is Krispy Kreme, Inc.'s current ratio?

Krispy Kreme, Inc. (DNUT) had a current ratio of 0.36 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is Krispy Kreme, Inc.'s debt-to-equity ratio?

Krispy Kreme, Inc. (DNUT) had a debt-to-equity ratio of 0.74 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Krispy Kreme, Inc.'s return on assets (ROA)?

Krispy Kreme, Inc. (DNUT) had a return on assets of 0.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Krispy Kreme, Inc.'s Piotroski F-Score?

Krispy Kreme, Inc. (DNUT) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Krispy Kreme, Inc.'s earnings high quality?

Krispy Kreme, Inc. (DNUT) has an earnings quality ratio of 14.81x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Krispy Kreme, Inc.?

Krispy Kreme, Inc. (DNUT) scores 18 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.