Krispy Kreme, Inc. Financials
This page shows Krispy Kreme, Inc. (DNUT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Positive operating cash flow masks a capital-hungry, write-down-hit model that weakens free cash flow and equity.
In FY2025, net loss and cash flow parted ways: the company reported a-$524M loss yet still produced$34M of operating cash flow. At the same time, goodwill fell sharply to$712M from$1.05B , which helps explain why accounting earnings deteriorated far more than cash generation.
The business has been cash-generative before reinvestment, which means day-to-day operations still bring in cash even when reported profit is weak. But capital spending reached
Short-term liquidity remains structurally tight, with only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Krispy Kreme, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Krispy Kreme, Inc. has an operating margin of -30.8%, meaning the company retains $-31 of operating profit per $100 of revenue. This below-average margin results in a low score of 17/100, suggesting thin profitability after operating expenses. This is down from -0.5% the prior year.
Krispy Kreme, Inc.'s revenue declined 8.6% year-over-year, from $1.7B to $1.5B. This contraction results in a growth score of 18/100.
Krispy Kreme, Inc. has a moderate D/E ratio of 1.40. This balance of debt and equity financing earns a leverage score of 39/100.
Krispy Kreme, Inc.'s current ratio of 0.38 is below the typical benchmark, resulting in a score of 3/100. This tight liquidity could limit financial flexibility if cash inflows slow.
While Krispy Kreme, Inc. generated $33.9M in operating cash flow, capex of $97.9M consumed most of it, leaving -$64.0M in free cash flow. This results in a low score of 21/100, reflecting heavy capital investment rather than weak cash generation.
Krispy Kreme, Inc. generates a -80.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 18/100. This is down from 0.3% the prior year.
Krispy Kreme, Inc. scores -0.40, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($589.6M) relative to total liabilities ($1.9B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Krispy Kreme, Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Krispy Kreme, Inc. generates $-0.06 in operating cash flow ($33.9M OCF vs -$523.8M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Krispy Kreme, Inc. generated $1.5B in revenue in fiscal year 2025. This represents a decrease of 8.6% from the prior year.
Krispy Kreme, Inc.'s EBITDA was -$332.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 366.1% from the prior year.
Krispy Kreme, Inc. reported -$523.8M in net income in fiscal year 2025. This represents a decrease of 13829.5% from the prior year.
Krispy Kreme, Inc. earned $-3.04 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 15300.0% from the prior year.
Cash & Balance Sheet
Krispy Kreme, Inc. generated -$64.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 14.6% from the prior year.
Krispy Kreme, Inc. held $42.4M in cash against $911.9M in long-term debt as of fiscal year 2025.
Krispy Kreme, Inc. paid $0.04 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Krispy Kreme, Inc. had 172M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.
Margins & Returns
Krispy Kreme, Inc.'s operating margin was -30.8% in fiscal year 2025, reflecting core business profitability. This is down 30.3 percentage points from the prior year.
Krispy Kreme, Inc.'s net profit margin was -34.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 34.6 percentage points from the prior year.
Krispy Kreme, Inc.'s ROE was -80.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 80.9 percentage points from the prior year.
Capital Allocation
Krispy Kreme, Inc. spent $1.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 75.4% from the prior year.
Krispy Kreme, Inc. invested $97.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 18.9% from the prior year.
DNUT Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $367.0M-6.5% | $392.4M+4.5% | $375.3M-1.2% | $379.8M+1.2% | $375.2M-7.1% | $404.0M+6.4% | $379.9M-13.4% | $438.8M |
| 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 | $58.0M+6.4% | $54.6M+10.4% | $49.4M-21.5% | $62.9M+5.9% | $59.4M-11.5% | $67.2M-5.6% | $71.1M+10.3% | $64.5M |
| Operating Income | -$3.6M+50.1% | -$7.3M-1.3% | -$7.2M+98.3% | -$434.6M-2043.9% | -$20.3M-76.3% | -$11.5M+28.2% | -$16.0M-333.3% | $6.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $3.6M-30.0% | $5.1M+281.7% | -$2.8M+86.2% | -$20.5M-666.9% | -$2.7M-12.2% | -$2.4M-113.4% | $17.7M+589.6% | -$3.6M |
| Net Income | -$22.8M+36.3% | -$35.8M-84.1% | -$19.4M+95.5% | -$435.3M-1207.7% | -$33.3M-53.2% | -$21.7M-154.9% | $39.6M+820.5% | -$5.5M |
| EPS (Diluted) | $-0.16 | N/A | $-0.11+95.7% | $-2.55-1059.1% | $-0.22 | N/A | $0.23+866.7% | $-0.03 |
DNUT Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.4B-8.0% | $2.6B-0.3% | $2.6B-1.2% | $2.6B-14.9% | $3.1B+0.6% | $3.1B+0.2% | $3.1B-4.9% | $3.2B |
| Current Assets | $186.9M+7.1% | $174.5M+7.8% | $161.8M+4.7% | $154.6M-2.2% | $158.0M-8.6% | $172.9M+5.2% | $164.3M-2.3% | $168.2M |
| Cash & Equivalents | $74.2M+75.1% | $42.4M+38.0% | $30.7M+44.4% | $21.3M+13.6% | $18.7M-35.4% | $29.0M+14.0% | $25.4M-11.2% | $28.6M |
| Inventory | $27.2M+1.3% | $26.9M-4.3% | $28.1M-16.7% | $33.7M+6.9% | $31.5M+12.1% | $28.1M-10.6% | $31.5M-20.2% | $39.5M |
| Accounts Receivable | $53.5M-13.2% | $61.6M+14.4% | $53.8M-6.0% | $57.3M-17.4% | $69.3M+20.7% | $57.4M-7.4% | $62.0M+8.1% | $57.3M |
| Goodwill | $669.3M-6.0% | $712.3M+0.5% | $708.4M-0.5% | $711.8M-32.4% | $1.1B+0.5% | $1.0B-1.2% | $1.1B-3.3% | $1.1B |
| Total Liabilities | $1.8B-8.5% | $1.9B+0.5% | $1.9B-0.3% | $1.9B-2.3% | $2.0B+2.6% | $1.9B+2.8% | $1.9B-6.9% | $2.0B |
| Current Liabilities | $446.0M-2.5% | $457.3M+1.9% | $448.9M-1.9% | $457.6M+1.8% | $449.5M-7.6% | $486.2M+2.3% | $475.5M-3.7% | $493.6M |
| Long-Term Debt | $829.7M-9.0% | $911.9M+0.6% | $906.2M+1.9% | $889.4M-4.9% | $935.0M+10.7% | $844.5M+5.0% | $804.6M-10.1% | $895.0M |
| Total Equity | $631.8M-2.8% | $650.1M-3.0% | $670.3M-3.4% | $693.6M-37.0% | $1.1B-2.9% | $1.1B-3.8% | $1.2B+3.9% | $1.1B |
| Retained Earnings | -$844.2M-2.8% | -$821.4M-3.5% | -$793.6M-2.5% | -$774.2M-128.4% | -$338.9M-13.1% | -$299.6M-10.5% | -$271.2M+11.0% | -$304.8M |
DNUT Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $20.2M-55.2% | $45.0M+6.5% | $42.3M+229.9% | -$32.5M-56.2% | -$20.8M-177.0% | $27.0M+729.1% | $3.3M-90.2% | $33.2M |
| Capital Expenditures | $8.8M-48.6% | $17.1M-36.1% | $26.7M-5.2% | $28.2M+8.9% | $25.9M-23.6% | $33.9M+29.7% | $26.1M-17.5% | $31.7M |
| Free Cash Flow | $11.4M-59.3% | $27.9M+79.7% | $15.5M+125.6% | -$60.8M-30.0% | -$46.7M-580.2% | -$6.9M+70.0% | -$22.9M-1567.6% | $1.6M |
| Investing Cash Flow | $100.1M+742.8% | -$15.6M+43.4% | -$27.5M-148.5% | $56.7M+319.9% | -$25.8M-1.4% | -$25.5M-123.2% | $109.9M+404.3% | -$36.1M |
| Financing Cash Flow | -$88.1M-337.1% | -$20.2M-423.5% | -$3.9M+81.3% | -$20.6M-155.8% | $36.8M+982.6% | $3.4M+102.9% | -$117.6M-3429.2% | -$3.3M |
| Dividends Paid | $0 | $0 | $0-100.0% | $6.0M+0.2% | $6.0M+0.2% | $5.9M+0.2% | $5.9M+0.5% | $5.9M |
| Share Buybacks | $402K+142.2% | $166K-58.2% | $397K-40.2% | $664K+439.8% | $123K-89.0% | $1.1M+1134.1% | $91K-97.4% | $3.5M |
DNUT Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -1.0%+0.9pp | -1.8%+0.1pp | -1.9%+112.5pp | -114.4%-109.0pp | -5.4%-2.5pp | -2.9%+1.4pp | -4.2%-5.8pp | 1.6% |
| Net Margin | -6.2%+2.9pp | -9.1%-3.9pp | -5.2%+109.4pp | -114.6%-105.7pp | -8.9%-3.5pp | -5.4%-15.8pp | 10.4%+11.7pp | -1.3% |
| Return on Equity | -3.6%+1.9pp | -5.5%-2.6pp | -2.9%+59.8pp | -62.7%-59.7pp | -3.0%-1.1pp | -1.9%-5.3pp | 3.4%+3.8pp | -0.5% |
| Return on Assets | -0.9%+0.4pp | -1.4%-0.6pp | -0.8%+15.8pp | -16.6%-15.5pp | -1.1%-0.4pp | -0.7%-2.0pp | 1.3%+1.5pp | -0.2% |
| Current Ratio | 0.42+0.0 | 0.38+0.0 | 0.36+0.0 | 0.34-0.0 | 0.350.0 | 0.36+0.0 | 0.350.0 | 0.34 |
| Debt-to-Equity | 1.31-0.1 | 1.40+0.1 | 1.35+0.1 | 1.28+0.4 | 0.85+0.1 | 0.74+0.1 | 0.68-0.1 | 0.79 |
| FCF Margin | 3.1%-4.0pp | 7.1%+3.0pp | 4.1%+20.1pp | -16.0%-3.5pp | -12.5%-10.8pp | -1.7%+4.3pp | -6.0%-6.4pp | 0.4% |
Note: The current ratio is below 1.0 (0.38), 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 $1.5B in total revenue for fiscal year 2025. This represents a -8.6% 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 8.6% year-over-year, from $1.7B to $1.5B in fiscal year 2025.
Is Krispy Kreme, Inc. profitable?
No, Krispy Kreme, Inc. (DNUT) reported a net income of -$523.8M in fiscal year 2025, with a net profit margin of -34.4%.
What is Krispy Kreme, Inc.'s EBITDA?
Krispy Kreme, Inc. (DNUT) had EBITDA of -$332.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Krispy Kreme, Inc. have?
As of fiscal year 2025, Krispy Kreme, Inc. (DNUT) had $42.4M in cash and equivalents against $911.9M in long-term debt.
What is Krispy Kreme, Inc.'s operating margin?
Krispy Kreme, Inc. (DNUT) had an operating margin of -30.8% in fiscal year 2025, 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 -34.4% in fiscal year 2025, 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 2025.
What is Krispy Kreme, Inc.'s return on equity (ROE)?
Krispy Kreme, Inc. (DNUT) has a return on equity of -80.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Krispy Kreme, Inc.'s free cash flow?
Krispy Kreme, Inc. (DNUT) generated -$64.0M in free cash flow during fiscal year 2025. This represents a 14.6% 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 $33.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Krispy Kreme, Inc.'s total assets?
Krispy Kreme, Inc. (DNUT) had $2.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Krispy Kreme, Inc.'s capital expenditures?
Krispy Kreme, Inc. (DNUT) invested $97.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Krispy Kreme, Inc.'s current ratio?
Krispy Kreme, Inc. (DNUT) had a current ratio of 0.38 as of fiscal year 2025, 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 1.40 as of fiscal year 2025, 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 -20.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Krispy Kreme, Inc.'s Altman Z-Score?
Krispy Kreme, Inc. (DNUT) has an Altman Z-Score of -0.40, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Krispy Kreme, Inc.'s Piotroski F-Score?
Krispy Kreme, Inc. (DNUT) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 -0.06x, considered mixed 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 19 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.