Grocery Outlet Holding Financials
Grocery Outlet Holding (GO) reported $4.7B in revenue for fiscal year 2025, up 7.3% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
Revenue kept climbing, but stable gross economics were overwhelmed by heavier below-the-line costs and reinvestment demands.
The latest year's net loss looks less like a demand collapse than an accounting-and-cost reset: revenue reached$4.7B while gross margin held near30.3% . Operating cash flow recovered to$222M and free cash flow returned to positive at$23.8M , while goodwill fell, pointing to a meaningful non-cash component in the reported loss.
Gross margin stability from roughly
Balance-sheet flexibility has narrowed as long-term debt climbed from
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 Grocery Outlet Holding'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.
Grocery Outlet Holding has an operating margin of -4.7%, meaning the company loses $5 on every $100 of revenue. This results in a profitability score of 29/100. This is down from 1.8% the prior year.
Grocery Outlet Holding's revenue grew 7.3% year-over-year to $4.7B, a solid pace of expansion. This earns a growth score of 62/100.
Grocery Outlet Holding has a moderate D/E ratio of 0.49. This balance of debt and equity financing earns a leverage score of 60/100.
Grocery Outlet Holding's current ratio of 1.37 indicates adequate short-term liquidity, earning a score of 36/100. The company can meet its near-term obligations, though with limited headroom.
While Grocery Outlet Holding generated $222.1M in operating cash flow, capex of $198.3M consumed most of it, leaving $23.8M in free cash flow. This results in a low score of 30/100, reflecting heavy capital investment rather than weak cash generation.
Grocery Outlet Holding posts a -22.9% return on equity (ROE), meaning it loses $23 for every $100 of shareholders' equity. This results in a returns score of 25/100. This is down from 3.3% the prior year.
Grocery Outlet Holding scores 1.73, below the 1.81 distress threshold. 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.
Grocery Outlet Holding passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Grocery Outlet Holding reported a net loss of $224.9M while generating $222.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Grocery Outlet Holding generated $4.7B in revenue in fiscal year 2025. This represents an increase of 7.3% from the prior year.
Grocery Outlet Holding's EBITDA was -$91.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 149.0% from the prior year.
Grocery Outlet Holding reported -$224.9M in net income in fiscal year 2025. This represents a decrease of 669.9% from the prior year.
Grocery Outlet Holding earned -$2.30 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 675.0% from the prior year.
Cash & Balance Sheet
Grocery Outlet Holding generated $23.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 131.9% from the prior year.
Grocery Outlet Holding held $69.6M in cash against $477.9M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Grocery Outlet Holding's gross margin was 30.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. That is unchanged from the prior year.
Grocery Outlet Holding's operating margin was -4.7% in fiscal year 2025, reflecting core business profitability. This is down 6.5 percentage points from the prior year.
Grocery Outlet Holding's net profit margin was -4.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 5.7 percentage points from the prior year.
Grocery Outlet Holding's ROE was -22.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 26.2 percentage points from the prior year.
Capital Allocation
Grocery Outlet Holding repurchased no shares in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Grocery Outlet Holding invested $198.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 6.3% from the prior year.
Not reported for fiscal year 2025.
GO Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.7B | $4.7B+7.3% | $4.4B+10.1% | $4.0B+10.9% | $3.6B+16.2% | $3.1B-1.8% | $3.1B+22.5% | $2.6B+11.9% | $2.3B+10.2% | $2.1B |
| Cost of Revenue | $3.3B | $3.3B+7.2% | $3.0B+11.8% | $2.7B+9.7% | $2.5B+16.7% | $2.1B-1.4% | $2.2B+21.9% | $1.8B+11.3% | $1.6B+10.3% | $1.4B |
| Gross Profit | $1.4B | $1.4B+7.4% | $1.3B+6.5% | $1.2B+13.7% | $1.1B+15.1% | $948.8M-2.5% | $973.3M+23.7% | $787.1M+13.2% | $695.4M+10.1% | $631.9M |
| SG&A Expenses | $1.4B | $1.3B+8.5% | $1.2B+10.0% | $1.1B+11.9% | $997.1M+16.0% | $859.7M+11.3% | $772.4M+20.8% | $639.4M+14.8% | $557.1M+9.2% | $510.1M |
| Operating Income | -$374.2M | -$221.7M-383.1% | $78.3M-37.7% | $125.8M+32.4% | $95.0M+6.6% | $89.1M-17.0% | $107.4M+57.1% | $68.3M-17.1% | $82.5M+7.2% | $76.9M |
| Income Tax | -$20.3M | -$24.3M-245.3% | $16.7M-32.2% | $24.6M+130.4% | $10.7M-29.6% | $15.2M+177.6% | -$19.6M-1536.5% | $1.4M-77.2% | $6.0M+15.7% | $5.2M |
| Net Income | -$381.3M | -$224.9M-669.9% | $39.5M-50.3% | $79.4M+22.1% | $65.1M+4.4% | $62.3M-41.6% | $106.7M+592.1% | $15.4M-2.8% | $15.9M-23.0% | $20.6M |
| EPS (Diluted) | — | -$2.30-675.0% | $0.40-49.4% | $0.79+21.5% | $0.65+3.2% | $0.63-41.7% | $1.08+468.4% | $0.19-17.4% | $0.23-23.3% | $0.30 |
Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.
TTM is the trailing twelve months, Q3 FY2026 through Q2 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GO Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.1B-2.6% | $3.2B+6.9% | $3.0B+7.1% | $2.8B+3.8% | $2.7B+7.4% | $2.5B+13.7% | $2.2B+58.7% | $1.4B | N/A |
| Current Assets | $497.6M-1.2% | $503.9M-2.4% | $516.6M+10.5% | $467.4M+5.6% | $442.7M+15.9% | $382.0M+41.0% | $270.8M+12.7% | $240.4M | N/A |
| Cash & Equivalents | $69.6M+10.8% | $62.8M-45.4% | $115.0M+11.9% | $102.7M-26.7% | $140.1M+33.0% | $105.3M+274.8% | $28.1M+33.4% | $21.1M+263.1% | $5.8M |
| Accounts Receivable | $14.7M-5.8% | $15.6M+18.5% | $13.1M+45.6% | $9.0M+54.8% | $5.8M+77.6% | $3.3M-36.2% | $5.1M+37.1% | $3.8M | N/A |
| Goodwill | $633.8M-19.0% | $782.7M+4.7% | $747.9M0.0% | $747.9M0.0% | $747.9M0.0% | $747.9M0.0% | $747.9M0.0% | $747.9M | N/A |
| Total Liabilities | $2.1B+6.6% | $2.0B+12.9% | $1.8B+5.3% | $1.7B+0.1% | $1.7B+6.2% | $1.6B+8.6% | $1.4B+33.7% | $1.1B | N/A |
| Current Liabilities | $364.0M+4.1% | $349.6M-8.9% | $384.0M+36.9% | $280.5M+17.9% | $237.9M+2.3% | $232.6M+11.5% | $208.6M+38.2% | $150.9M | N/A |
| Long-Term Debt | $477.9M+3.3% | $462.5M+61.1% | $287.1M-24.4% | $379.6M-15.9% | $451.5M+0.5% | $449.2M+0.3% | $447.7M-47.3% | $850.0M | N/A |
| Total Equity | $983.7M-17.8% | $1.2B-1.8% | $1.2B+9.8% | $1.1B+10.0% | $1.0B+9.4% | $922.3M+23.7% | $745.4M+148.5% | $300.0M-29.8% | $427.1M |
| Retained Earnings | $156.5M-59.0% | $381.4M+11.5% | $342.0M+30.3% | $262.5M+32.9% | $197.5M+46.1% | $135.2M+382.5% | $28.0M+125.4% | $12.4M | N/A |
Not reported in any period shown, so not listed: Inventory.
GO Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $185.3M | $222.1M+98.4% | $112.0M-63.1% | $303.4M+63.6% | $185.5M+12.0% | $165.6M-8.6% | $181.2M+36.4% | $132.8M+25.5% | $105.8M+24.9% | $84.7M |
| Capital Expenditures | $173.2M | $198.3M+6.3% | $186.6M+10.4% | $169.0M+29.5% | $130.5M+5.8% | $123.4M-1.2% | $124.9M+28.5% | $97.2M+50.1% | $64.8M-8.9% | $71.1M |
| Free Cash Flow | $12.1M | $23.8M+131.9% | -$74.6M-155.5% | $134.5M+144.3% | $55.0M+30.4% | $42.2M-25.1% | $56.3M+58.0% | $35.6M-13.2% | $41.0M+201.0% | $13.6M |
| Investing Cash Flow | -$196.6M | -$229.7M+16.2% | -$274.0M-41.1% | -$194.2M-29.5% | -$149.9M-9.7% | -$136.7M-2.2% | -$133.8M-23.9% | -$108.0M-46.9% | -$73.5M+5.5% | -$77.8M |
| Financing Cash Flow | $30.3M | $14.3M-87.0% | $109.9M+213.3% | -$97.0M-33.0% | -$72.9M-1339.4% | $5.9M-80.2% | $29.8M+267.5% | -$17.8M-4.6% | -$17.0M-114.2% | -$7.9M |
| Dividends Paid | N/A | $0 | $0-100.0% | $15K-85.7% | $105K-43.5% | $186K-57.1% | $434K-88.1% | $3.6M-97.6% | $153.6M+11651.1% | $1.3M |
| Share Buybacks | N/A | $0-100.0% | $81.4M+1280.5% | $5.9M+70.8% | $3.5M | $0 | $0 | N/A | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2026 through Q2 FY2027, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
GO Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.3%0.0pp | 30.2%-1.0pp | 31.3%+0.8pp | 30.5%-0.3pp | 30.8%-0.2pp | 31.1%+0.3pp | 30.8%+0.4pp | 30.4%-0.1pp | 30.4% |
| Operating Margin | -4.7%-6.5pp | 1.8%-1.4pp | 3.2%+0.5pp | 2.6%-0.2pp | 2.9%-0.5pp | 3.4%+0.8pp | 2.7%-0.9pp | 3.6%-0.1pp | 3.7% |
| Net Margin | -4.8%-5.7pp | 0.9%-1.1pp | 2.0%+0.2pp | 1.8%-0.2pp | 2.0%-1.4pp | 3.4%+2.8pp | 0.6%-0.1pp | 0.7%-0.3pp | 1.0% |
| Return on Equity | -22.9%-26.2pp | 3.3%-3.2pp | 6.5%+0.7pp | 5.9%-0.3pp | 6.2%-5.4pp | 11.6%+9.5pp | 2.1%-3.2pp | 5.3%+0.5pp | 4.8% |
| Return on Assets | -7.3%-8.5pp | 1.2%-1.4pp | 2.7%+0.3pp | 2.4%0.0pp | 2.3%-2.0pp | 4.3%+3.6pp | 0.7%-0.4pp | 1.1% | N/A |
| Current Ratio | 1.37-0.1x | 1.44+0.1x | 1.35-0.3x | 1.67-0.2x | 1.86+0.2x | 1.64+0.3x | 1.30-0.3x | 1.59 | N/A |
| Debt-to-Equity | 0.49+0.1x | 0.39+0.2x | 0.24-0.1x | 0.34-0.1x | 0.450.0x | 0.49-0.1x | 0.60-2.2x | 2.83 | N/A |
| FCF Margin | 0.5%+2.2pp | -1.7%-5.1pp | 3.4%+1.8pp | 1.5%+0.2pp | 1.4%-0.4pp | 1.8%+0.4pp | 1.4%-0.4pp | 1.8%+1.1pp | 0.7% |
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Where Grocery Outlet Holding Ranks
Frequently Asked Questions
What is Grocery Outlet Holding's annual revenue?
Grocery Outlet Holding (GO) reported $4.7B in total revenue for fiscal year 2025. This represents a 7.3% 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 Grocery Outlet Holding's revenue growing?
Grocery Outlet Holding (GO) revenue grew by 7.3% year-over-year, from $4.4B to $4.7B in fiscal year 2025.
Is Grocery Outlet Holding profitable?
No, Grocery Outlet Holding (GO) reported a net income of -$224.9M in fiscal year 2025, with a net profit margin of -4.8%.
What is Grocery Outlet Holding's EBITDA?
Grocery Outlet Holding (GO) had EBITDA of -$91.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Grocery Outlet Holding have?
As of fiscal year 2025, Grocery Outlet Holding (GO) had $69.6M in cash and equivalents against $477.9M in long-term debt.
What is Grocery Outlet Holding's gross margin?
Grocery Outlet Holding (GO) had a gross margin of 30.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Grocery Outlet Holding's operating margin?
Grocery Outlet Holding (GO) had an operating margin of -4.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Grocery Outlet Holding's net profit margin?
Grocery Outlet Holding (GO) had a net profit margin of -4.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Grocery Outlet Holding's return on equity (ROE)?
Grocery Outlet Holding (GO) has a return on equity of -22.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Grocery Outlet Holding's free cash flow?
Grocery Outlet Holding (GO) generated $23.8M in free cash flow during fiscal year 2025. This represents a 131.9% 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 Grocery Outlet Holding's operating cash flow?
Grocery Outlet Holding (GO) generated $222.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Grocery Outlet Holding's total assets?
Grocery Outlet Holding (GO) had $3.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Grocery Outlet Holding's capital expenditures?
Grocery Outlet Holding (GO) invested $198.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Grocery Outlet Holding's current ratio?
Grocery Outlet Holding (GO) had a current ratio of 1.37 as of fiscal year 2025, which is considered adequate.
What is Grocery Outlet Holding's debt-to-equity ratio?
Grocery Outlet Holding (GO) had a debt-to-equity ratio of 0.49 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Grocery Outlet Holding's return on assets (ROA)?
Grocery Outlet Holding (GO) had a return on assets of -7.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Grocery Outlet Holding's Altman Z-Score?
Grocery Outlet Holding (GO) has an Altman Z-Score of 1.73, 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 Grocery Outlet Holding's Piotroski F-Score?
Grocery Outlet Holding (GO) has a Piotroski F-Score of 4 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Grocery Outlet Holding's earnings high quality?
Grocery Outlet Holding (GO) reported a net loss of $224.9M while generating $222.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 Grocery Outlet Holding?
Grocery Outlet Holding (GO) scores 40 out of 100 on our Financial Health Score, indicating moderate 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.