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Kroger (KR) stock

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NYSE: KR NYSE Food Retail Next results ~December 3, 2026

C Fundamentals grade

Kroger is a US-listed company in the food retail industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$30

Cash-flow model

Base case. Range ~$17–$48 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 56% below it.

Price used: $68.36, November 2, 2026

Kroger valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Kroger files

Where Kroger stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $149.3bn, up 1.6% on a year earlier, about the same pace as a quarter earlier. That puts it 780 of 931 for growth among all the companies we cover. Free-cash-flow margin held at 1.6%. The diluted share count is down 8.7% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 6 financial-health checks. Our cash-flow model value is $33.20 a share, against a share price of $62.62. At that price, our model says the market is pricing in about 9.8% a year of cash-flow growth for five years, faster than the 1.6% a year revenue growth it has delivered.

Source: 10-Q filed September 18, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 3, 2026 (estimated)

Kroger's trailing-twelve-month revenue grew 1.6% year on year, with a free-cash-flow margin of 1.6%. Where it stands out: stock pay as % of revenue of 0.1% ranks 2 of 7 food retail companies we cover. Where it lags: long-term debt as % of assets of 28.1% ranks 7 of 8 food retail companies we cover.

Our discounted-cash-flow model values the business at ~$30 per share in the base case (~$17–$48 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 7.8% while net income fell 60.2%: a 68pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 8.7% in a year, so each share owns more of the business.

Things to watch

  • Priced above our value. The share price of $68.36 is 56% above our value per share of $30.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 28.1% ranks 7 of 8 food retail companies we cover (median 18.3%).
  • Below peers: revenue growth. Revenue growth of 1.6% ranks 8 of 10 food retail companies we cover (median 3.7%).

Latest results: FY2027 Q2

Filed September 18, 2026
Earnings per share
$1.09 against an average estimate of $1.05: beat by 3.6%
Revenue
$34.62bn, up 2.0% on a year earlier
Share reaction
+7.0% in the first session after the results on September 11, 2026, against +0.4% for the S&P 500
Guidance given
identical Sales without fuel growth 0.2% to 0.8% (full-year 2026); FIFO Operating Profit $5bn to $5.2bn (full-year 2026)
Next report
December 3, 2026; average EPS estimate $1.16

Kroger's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.4%
  • 1 week+2.4%
  • 1 month+15.8%
  • This year+11.3%
  • 1 year+9.9%
  • 5 years+77.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$149B
Operating margin
1.4%
Net margin
0.7%
EPS (TTM, diluted)
$1.73

Growth

Revenue growth
+1.6%
Change in growth rate
+0.4 pts
Share count change
−8.7%

Cash

Free cash flow (TTM)
$2.4B
FCF margin
1.6%
Stock pay % of revenue
0.1%

Earnings

Last results
September 11, 2026
Next results (est.)
December 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Insider trade
  4. Results
  5. Guidance
  6. Leadership
  7. Insider trade

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Kroger valuation models and calculator

What the price is pricing in

The share price implies about 11.2% a year of cash-flow growth for five years.That is faster than the 1.6% a year revenue growth Kroger has delivered.

  • Priced in11.2%
  • Last 12 months1.6%
  • 3 years a year0.3%
  • 5 years a year1.6%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($66.88, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$30
Price used
$66.88close November 3, 2026
Implied change
▼ 55%
Uncertainty
High

How we got here: a discounted-cash-flow model of Kroger's free cash flow after stock-based pay with after-tax interest added back ($2B, FY2027 Q2 TTM), growing 1.9% and 1.8% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$17–~$48 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Kroger's free cash flow after stock-based pay ( $2B, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Kroger as an operating company, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.43 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$30 ~$17–$48 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$75 ~$56–$110 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$41 ~$29–$62 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$43 ~$34–$57 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$44 ~$30–$75 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Kroger with Food Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −39%
  • Revenue growth 5 points higher ▲ +51%
  • Free-cash-flow margin 1 point lower ▼ −97%
  • Last year's free-cash-flow margin change, if it persists ▲ +10%
  • Discount rate 1 point higher ▼ −22%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $23$40$62$91$129$177
8.5% $12$24$40$61$88$123
10% $6$15$27$43$64$90

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$31.19$27.17$24.34$23.73$23.24$30.49$39.20$41.42$43.44$59.39$61.78$68.36
Market value$30.6bn$26.0bn$22.0bn$19.4bn$18.7bn$23.8bn$29.6bn$30.1bn$31.5bn$42.8bn$40.5bn$43.0bn
+ Net debt (− = net cash)$11.8bn$13.8bn$15.2bn$14.8bn$12.9bn$10.7bn$9.9bn$10.3bn$8.3bn$11.9bn$12.5bn$13.7bn
Enterprise value$42.4bn$39.8bn$37.2bn$34.2bn$31.6bn$34.5bn$39.5bn$40.4bn$39.8bn$54.7bn$53.0bn$56.7bn
Multiples
Price / sales 0.3x0.2x0.2x0.2x0.2x0.2x0.2x0.2x0.2x0.3x0.3x0.3x
Price / earnings 15.0x13.2x11.5x6.2x11.3x9.2x17.9x13.4x14.6x16.0x39.8x39.6x
Price / free cash flow 19.5x45.4x36.4x16.2x12.2x6.0x8.3x21.2x10.9x24.1x11.7x18.0x
EV / EBITDA 7.5x6.9x7.4x6.7x6.4x6.2x6.3x5.7x6.4x7.7x10.2x10.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

56 /100

Moderate moat

How hard Kroger's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 5 / 20

    Net income has been a median 4.6% of total assets over 10 years.

  • Durability 9 / 20

    Operating margin has been a median 2.3%; its worst year was 1.4%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 10 of 10 years, at a median 1.4% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 17.7% over five years; stock-based pay has been a median 0.1% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 3, 2026, before the open. Analysts expect revenue of $34.6bn and EPS of $1.16 (range $1.10 to $1.25) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.19 +7% $150.8bn +2%
Next $5.47 +6% $153.2bn +2%

Next year's EPS estimate has moved −1.1% in 90 days, across 23 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.4% on 90 days ago. In the last 30 days, 5 analysts raised Kroger's forecast and 11 cut it.

Consensus EPS forecast Kroger, last 90 days
$5.10 $5.20 $5.30 $5.40 $5.50 $5.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $5.21 Current fiscal year, 60 days ago: $5.21 Current fiscal year, 30 days ago: $5.19 Current fiscal year, 7 days ago: $5.18 Current fiscal year, Now: $5.19 $5.19 Next fiscal year, 90 days ago: $5.54 Next fiscal year, 60 days ago: $5.54 Next fiscal year, 30 days ago: $5.51 Next fiscal year, 7 days ago: $5.50 Next fiscal year, Now: $5.47 $5.47

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $5.21$5.54
60 days ago $5.21$5.54
30 days ago $5.19$5.51
7 days ago $5.18$5.50
Now $5.19$5.47

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $1.05 $1.09 +3.6%
Apr 2026 $1.59 $1.58 −0.8%
Jan 2026 $1.20 $1.28 +6.5%
Oct 2025 $1.03 $1.05 +1.7%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 11, 2026
  • EPS full-year 2026 $5.10 to $5.30 Non-GAAP Maintained
    “EPS $5.10 - $5.30 $5.10 - $5.30” source
  • Identical Sales without fuel full-year 2026 0.2% growth to 0.8% growth Non-GAAP Lowered
    “Given our first half results and the macro environment, we are updating our identical sales without fuel guidance to a new range of 0.2% to 0.8%, which includes an approximately 140 basis point headwind from the Inflation Reduction Act.” source
  • FIFO Operating Profit full-year 2026 $5bn to $5.2bn Non-GAAP Maintained
    “FIFO Operating Profit $5.0 - $5.2 billion $5.0 - $5.2 billion” source
  • Free Cash Flow full-year 2026 $2.7bn to $2.9bn Non-GAAP
    “Free Cash Flow $2.7 - $2.9 billion $2.7 - $2.9 billion” source
  • CapEx full-year 2026 $3.8bn to $4bn Non-GAAP
    “Cap Ex $3.8 - $4.0 billion $3.8 - $4.0 billion” source
  • Tax Rate full-year 2026 about 23% Non-GAAP
    “Tax Rate*** 23% 23%” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Kroger's revenue by +1.9% next year and +1.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+1.8%, weight 70%) and the company's own record (+2.0%, weight 30%) . How the weights are set.

Analyst recommendations

24 analysts, Oct 2026
Buy1354%
Hold1146%
Sell00%

Monthly trend

  1. Oct 2026121124
  2. Sep 2026121224
  3. Aug 2026111324
  4. Jul 2026111324

Counts of recommendations published by analysts covering Kroger, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.2%
of tradable shares
Days to cover
3.69
at average volume
Short interest, 1 month
+3%
to October 15, 2026
Held by institutions
86%
of shares
Held by insiders
6.9%
of shares
Employees
400,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +9.9%

$62.22 on October 31, 2025 to $68.36

ThenNowEffect
Revenue (last 12 months) $147.0bn $149.3bn +1.6%
Net margin 1.9% 0.7% −60.8%
P/E multiple 15.7x 39.6x +152.0%
Share count 689m 629m +9.6%

Biggest factor: net margin.

Last 3 years +61.1%

$42.43 on November 3, 2023 to $68.36

ThenNowEffect
Revenue (last 12 months) $148.0bn $149.3bn +0.9%
Net margin 1.1% 0.7% −34.1%
P/E multiple 18.8x 39.6x +110.5%
Share count 723m 629m +15.1%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
KR+45%+0%+5%+37%+4%+11%
Industry peers (median)+26%+7%+16%+8%−23%+20%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
KR75%42%50%58%50%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
KR−18%−31%−14%−14%−17%−26%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 52% from December 29, 2015 to September 25, 2017. Getting back needed a 108% gain, reached on May 10, 2021, 1323 days after the low.

Price behaviour

52-week range
$55.15 – $74.69
From 52-week high
−8.5%
vs 50-day average
+12.3%
vs 200-day average
+8.2%
Volatility (1 year)
30%
Beta vs S&P 500
-0.74

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±6.6%
After a week
8 up, 4 down
typical move ±6.4%
After a month
9 up, 3 down
typical move ±6.6%
Results releasedNext dayS&P 500 next day5 days21 days
September 11, 2026 +7.0% +0.4% +5.4% +9.9%
June 18, 2026 −9.8% +0.7% −6.6% −6.5%
March 5, 2026 +9.0% −1.9% +10.3% +7.4%
December 4, 2025 −5.3% +0.3% −6.0% −6.7%
September 11, 2025 +1.9% +0.8% −1.6% +1.1%
June 20, 2025 +12.9% +0.8% +9.0% +10.8%
March 6, 2025 +6.7% −1.2% +5.7% +7.4%
March 3, 2025 −2.5% −2.9% +4.5% +5.1%
December 5, 2024 −1.1% 0.0% +5.7% −1.3%
September 12, 2024 +8.6% +1.4% +6.5% +7.5%
June 20, 2024 −3.4% −0.4% −5.0% +5.5%
March 7, 2024 +10.9% +0.4% +9.9% +9.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Kroger’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.22× the last 60 days’ realised volatility .
  • Puts and calls are priced at about the same implied volatility.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

KR Kroger Grade C $68.53

Own 100 shares, sell the $75.00 call expiring December 18, 2026 (46 days) for $0.85 a share — $85.00 per contract.

Previous session · Bid $0.85, ask $1.04, quoted Mon 2 Nov, 17:28 New York time with KR at $68.53. Option prices move with the shares: check the live chain at your broker before trading.

  • If KR ends below $75.00: you keep your shares and the $85.00 — 1.2% extra on the position, 9.8% a year at that pace.
  • If it ends above $75.00: your shares are sold at $75.00, a total return of 10.7% including the premium — at or above our value of ~$30.
$732 $0 −$1.4k Break-even $67.68 Price $68.53 ← Our value ~$30
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$85.00
Annualised
9.8%
Break-even
$67.68
Max gain
$732
Chance of selling
~25%

Results are expected around December 6, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Own the shares, buy the $65.00 put and sell the $75.00 call, both expiring December 18, 2026 (46 days).

  • Net cost of $0.95 a share ($95.00 per contract of 100 shares).
  • Worst case at expiry: -6.5%, if the shares fall below $65.00 (-5.2% from today).
  • Best case at expiry: +8.1%, if the shares rise above $75.00 (+9.4%); gains beyond that go to the call buyer.

Offered because the shares trade at or above our fair value of $30.00: a way to hold on with a floor under the price, paid for by giving up upside the model does not expect. Strikes near 25-delta; the put at its ask and the call at its bid. Protection has a cost over time: research on protective puts finds they have usually lowered returns.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Kroger in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Kroger
$146B $147B $148B $149B $150B $151B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $147.8B Revenue (TTM), FY24 Q4: $150B Revenue (TTM), FY25 Q1: $150.1B Revenue (TTM), FY25 Q2: $150.2B Revenue (TTM), FY25 Q3: $149.9B Revenue (TTM), FY25 Q4: $147.1B Revenue (TTM), FY26 Q1: $147B Revenue (TTM), FY26 Q2: $147B Revenue (TTM), FY26 Q3: $147.2B Revenue (TTM), FY26 Q4: $147.6B Revenue (TTM), FY27 Q1: $148.6B Revenue (TTM), FY27 Q2: $149.3B $149.3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $147.8B
FY24 Q4 $150B
FY25 Q1 $150.1B
FY25 Q2 $150.2B
FY25 Q3 $149.9B
FY25 Q4 $147.1B
FY26 Q1 $147B
FY26 Q2 $147B
FY26 Q3 $147.2B
FY26 Q4 $147.6B
FY27 Q1 $148.6B
FY27 Q2 $149.3B
Revenue growth, TTM YoY Kroger
-3% -2% -1% 0% 1% 2% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: 0.9% Revenue growth, TTM YoY, FY24 Q4: 1.2% Revenue growth, TTM YoY, FY25 Q1: 0.9% Revenue growth, TTM YoY, FY25 Q2: 1.5% Revenue growth, TTM YoY, FY25 Q3: 1.4% Revenue growth, TTM YoY, FY25 Q4: -1.9% Revenue growth, TTM YoY, FY26 Q1: -2.1% Revenue growth, TTM YoY, FY26 Q2: -2.1% Revenue growth, TTM YoY, FY26 Q3: -1.8% Revenue growth, TTM YoY, FY26 Q4: 0.4% Revenue growth, TTM YoY, FY27 Q1: 1.1% Revenue growth, TTM YoY, FY27 Q2: 1.6% 1.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 0.9%
FY24 Q4 1.2%
FY25 Q1 0.9%
FY25 Q2 1.5%
FY25 Q3 1.4%
FY25 Q4 -1.9%
FY26 Q1 -2.1%
FY26 Q2 -2.1%
FY26 Q3 -1.8%
FY26 Q4 0.4%
FY27 Q1 1.1%
FY27 Q2 1.6%
Operating margin (TTM) Kroger
1% 1.5% 2% 2.5% 3% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 1.8% Operating margin (TTM), FY24 Q4: 2.1% Operating margin (TTM), FY25 Q1: 1.9% Operating margin (TTM), FY25 Q2: 2.8% Operating margin (TTM), FY25 Q3: 2.8% Operating margin (TTM), FY25 Q4: 2.6% Operating margin (TTM), FY26 Q1: 2.6% Operating margin (TTM), FY26 Q2: 2.7% Operating margin (TTM), FY26 Q3: 1.1% Operating margin (TTM), FY26 Q4: 1.3% Operating margin (TTM), FY27 Q1: 1.3% Operating margin (TTM), FY27 Q2: 1.4% 1.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 1.8%
FY24 Q4 2.1%
FY25 Q1 1.9%
FY25 Q2 2.8%
FY25 Q3 2.8%
FY25 Q4 2.6%
FY26 Q1 2.6%
FY26 Q2 2.7%
FY26 Q3 1.1%
FY26 Q4 1.3%
FY27 Q1 1.3%
FY27 Q2 1.4%
FCF margin (TTM) Kroger
1% 1.5% 2% 2.5% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 1.6% FCF margin (TTM), FY24 Q4: 1.9% FCF margin (TTM), FY25 Q1: 1.4% FCF margin (TTM), FY25 Q2: 1.2% FCF margin (TTM), FY25 Q3: 1.5% FCF margin (TTM), FY25 Q4: 1.2% FCF margin (TTM), FY26 Q1: 1.3% FCF margin (TTM), FY26 Q2: 1.5% FCF margin (TTM), FY26 Q3: 1.5% FCF margin (TTM), FY26 Q4: 2.3% FCF margin (TTM), FY27 Q1: 1.9% FCF margin (TTM), FY27 Q2: 1.6% 1.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 1.6%
FY24 Q4 1.9%
FY25 Q1 1.4%
FY25 Q2 1.2%
FY25 Q3 1.5%
FY25 Q4 1.2%
FY26 Q1 1.3%
FY26 Q2 1.5%
FY26 Q3 1.5%
FY26 Q4 2.3%
FY27 Q1 1.9%
FY27 Q2 1.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Kroger took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $148B
  2. Other operating costs $146B · 98.7%
  3. Operating income $1.9B · 1.3%
  4. Net income $1B · 0.7%

Shares of revenue. Source: Kroger's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Jan 2010 2011 Jan 2011 2012 Jan 2012 2013 Feb 2013 2014 Feb 2014 2015 Jan 2015 2016 Jan 2016 2017 Jan 2017 2018 Feb 2018 2019 Feb 2019 2020 Feb 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Feb 2024 2025 Feb 2025 2026 Jan 2026 LTM Aug 2026
Income
Revenue 76.6 82.0 90.3 96.6 98.4 108.5 109.8 115.3 123.3 121.9 122.3 132.5 137.9 148.3 150.0 147.1 147.6 149.3
Gross profit 17.8 18.2 18.8 — — — — — — — — — — — — — — —
EBITDA 2.6 3.8 2.9 4.4 4.4 5.1 5.7 5.8 5.0 5.1 4.9 5.5 6.3 7.1 6.2 7.1 5.2 5.3
Operating income 1.1 2.2 1.3 2.8 2.7 3.1 3.6 3.5 2.6 2.6 2.3 2.8 3.5 4.1 3.1 3.8 1.9 2.1
Net income 0.1 1.1 0.6 1.5 1.5 1.7 2.0 2.0 1.9 3.1 1.7 2.6 1.7 2.2 2.2 2.7 1.0 1.1
Diluted EPS $0.06 $0.87 $0.51 $1.39 $1.45 $1.72 $2.06 $2.05 $2.09 $3.76 $2.04 $3.27 $2.17 $3.06 $2.96 $3.67 $1.54 $1.73
Growth (year on year)
Revenue +0.6% +7.1% +10.0% +7.0% +1.8% +10.3% +1.3% +5.0% +6.9% −1.2% +0.4% +8.4% +4.1% +7.5% +1.2% −1.9% +0.4% +1.6%
EBITDA −32.8% +44.6% −22.9% +51.4% +0.3% +14.8% +11.4% +2.2% −12.8% +0.6% −3.5% +12.8% +14.0% +12.5% −12.3% +14.0% −26.4% −26.9%
Operating income −55.5% — −41.4% — −1.4% +15.1% +14.0% −3.5% −24.3% +0.1% −13.9% — +25.1% +18.7% −25.0% +24.3% −50.9% −46.9%
Net income — — — — — — — — — — −46.7% — — — — — — —
Diluted EPS — — — — — — — — — — −45.7% — — — — — — —
Margins
Gross margin 23.2% 22.2% 20.8% — — — — — — — — — — — — — — —
EBITDA margin 3.4% 4.6% 3.2% 4.6% 4.5% 4.7% 5.2% 5.0% 4.1% 4.2% 4.0% 4.2% 4.6% 4.8% 4.1% 4.8% 3.5% 3.6%
Operating margin 1.4% 2.7% 1.4% 2.9% 2.8% 2.9% 3.3% 3.0% 2.1% 2.1% 1.8% 2.1% 2.5% 2.8% 2.1% 2.6% 1.3% 1.4%
Net margin 0.1% 1.4% 0.7% 1.5% 1.5% 1.6% 1.9% 1.7% 1.5% 2.6% 1.4% 2.0% 1.2% 1.5% 1.4% 1.8% 0.7% 0.7%
Free-cash-flow margin 0.8% 1.8% 0.8% 0.9% 1.3% 1.3% 1.4% 0.5% 0.5% 1.0% 1.3% 3.0% 2.6% 1.0% 1.9% 1.2% 2.3% 1.6%
Cash flow
Cash from operations 2.9 3.4 2.7 3.0 3.6 4.2 4.9 4.3 3.4 4.2 4.7 6.8 6.2 4.5 6.8 5.8 7.3 6.7
Capital spending 2.3 1.9 1.9 2.1 2.3 2.8 3.3 3.7 2.8 3.0 3.1 2.9 2.6 3.1 3.9 4.0 3.9 4.3
Free cash flow 0.6 1.4 0.8 0.9 1.2 1.4 1.6 0.6 0.6 1.2 1.5 4.0 3.6 1.4 2.9 1.8 3.5 2.4
Stock-based pay 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2
Free cash flow after stock pay 0.5 1.4 0.7 0.8 1.1 1.2 1.4 0.4 0.5 1.0 1.4 3.8 3.4 1.2 2.7 1.6 3.3 2.2
Balance sheet
Cash 0.4 0.8 0.2 0.2 0.4 0.3 0.3 0.3 0.3 0.4 0.4 1.7 1.8 1.0 1.9 4.0 3.3 1.7
Total debt 8.0 7.8 8.1 8.9 11.3 11.6 12.1 14.1 15.6 15.2 13.3 12.4 11.7 11.3 10.2 15.9 15.9 15.4
Net debt (negative = net cash) 7.6 7.0 8.0 8.6 10.9 11.3 11.8 13.8 15.2 14.8 12.9 10.7 9.9 10.3 8.3 12.0 12.5 13.7
Diluted shares 1,300m 1,276m 1,186m 1,074m 1,040m 993m 980m 958m 904m 818m 805m 781m 754m 727m 725m 720m 655m 629m
Returned to shareholders
Dividends 0.2 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.5 0.5 0.6 0.7 0.8 0.9 0.9 0.9
Buybacks 0.2 0.5 1.5 1.3 0.6 1.3 0.7 1.8 1.6 2.0 0.5 1.3 1.6 1.0 0.1 4.2 2.7 3.8
Total returned 0.5 0.8 1.8 1.5 0.9 1.6 1.1 2.2 2.1 2.4 1.0 1.9 2.2 1.7 0.9 5.0 3.6 4.7

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 6 checks passed · August 15, 2026
What it owns · $49.5bn
Short-term assets $12.9bnLonger-term assets $36.6bn
What it owes, and who funded it · $49.5bn
Short-term liabilities $18.4bnLonger-term liabilities $25.2bnShareholders' equity $5.8bn
  • Short-term assets cover short-term liabilities $12.9bn of assets due within a year against $18.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $12.9bn short-term assets against $25.2bn of longer-dated liabilities.
  • More cash than debt $1.7bn of cash against $15.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 263% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 119% to 263% over five years.
  • A year's operating cash flow covers at least 20% of debt $6.7bn of operating cash flow against $15.4bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Kroger's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$3.8B
Dividends (TTM)
$894M
Returned to shareholders
196%
of free cash flow
Buybacks, last 3 fiscal years
$6.9B
Diluted share count
−8.7%
year over year
Total shareholder yield
11.2%
dividends 2.1% + buybacks 9.1% of market value
Dividend payout ratio
82%
of net income paid out

Competitors: side by side with peers

Closest by revenue in food retail
Last 12 months unless stated KR ACI CASY SFM IMKTA WMK Median
Revenue, last 12 months $149.3bn $83.2bn $18.7bn $9.1bn $5.4bn $5.1bn $5.2bn
Revenue growth, last 12 months 1.6% 2.3% 13.8% 5.3% 1.0% 4.7% 3.0%
Revenue growth, 3-year average 0.3% 1.8% 8.8% 10.7% −2.0% 1.8% 3.6%
Revenue growth, latest quarter 2.0% −0.1% 24.3% 4.7% 1.6% 4.6% 1.7%
Gross margin 20.6% 27.0% 23.4% 38.6% 24.5% 25.5% 27.6%
Operating margin 1.4% 0.5% — 7.3% 2.6% 2.5% 2.5%
Operating margin, 3-year average 2.3% 1.5% — 7.1% 2.6% 2.5% 2.5%
Net margin 0.7% −0.1% 4.1% 5.4% 1.9% 2.0% 1.9%
Cash from operations / revenue 4.5% 2.8% 7.4% 7.6% 4.6% 4.8% 4.6%
Free-cash-flow margin 1.6% 0.6% 3.5% 3.7% 2.8% 0.8% 1.6%
Free-cash-flow margin, 3-year average 1.4% 0.8% 3.4% 4.6% 1.5% 0.7% 1.5%
Stock pay / revenue 0.1% 0.1% 0.3% 0.3% — — 0.2%
Change in share count −8.7% −11.8% −0.4% −4.3% — −7.5% −4.3%

Median of all 10 companies we cover in food retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

10 food retail companies
Measure Company Peer median Rank
Revenue growth Growth 1.6% 3.7% 8 of 10
Change in growth rate Growth +0.4pp -0.5pp 4 of 10
Operating margin Profitability 1.4% 2.5% 6 of 9
Net margin Profitability 0.7% 2.0% 7 of 10
Free-cash-flow margin Cash generation 1.6% 1.7% 6 of 10
Stock pay as % of revenue Cash generation 0.1% 0.2% 2 of 7
Long-term debt as % of assets Balance sheet 28.1% 18.3% 7 of 8
Change in share count Balance sheet -8.7% -4.3% 2 of 7

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 31, 2026
Products and services
Line of business Revenue Share YoY
Non Perishable $77.6B 52.5% ▲ 0.6%
Perishable $37.2B 25.2% ▲ 2.4%
Pharmacy $18.2B 12.3% ▲ 15.8%
Supermarket Fuel $13.6B 9.2% ▼ 9.3%
Other Product $1.1B 0.8% ▼ 63.1%

From Kroger's 10-K filed March 31, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$29.2B
Institutions reporting
1,310
Shares held vs prior quarter
▲ 0.3%
Positions opened / closed
113 / 183

Top buyers and sellers, Q2 2026: 647 institutions bought and 660 sold ; the biggest buyer was Pacer Advisors, Inc (+3.0M shares) and the biggest seller GQG Partners LLC (−12.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $3B 54.3M 10.3% ▲ 2.3%
Berkshire Hathaway Inc $2.2B 39.0M 7.4% ▼ 22.0%
Vanguard Capital Management LLC $2B 35.5M 6.7% ▼ 2.5%
Vanguard Portfolio Management LLC $1.7B 31.0M 5.9% ▼ 2.2%
State Street Corp $1.6B 29.2M 5.6% ▼ 4.0%
Wellington Management Group LLP $940M 16.9M 3.2% ▼ 27.9%
FMR LLC $922M 16.6M 3.2% ▲ 19.9%
Geode Capital Management, LLC $872M 15.8M 3.0% ▼ 1.4%
Franklin Resources Inc $834M 15.0M 2.9% ▼ 1.3%
Dimensional Fund Advisors LP $696M 12.5M 2.4% ▲ 1.9%
Morgan Stanley $522M 9.4M 1.8% ▼ 25.2%
Goldman Sachs Group Inc $468M 8.4M 1.6% ▼ 10.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Kroger's complete shareholder register. Values are as reported by the filers ; 4 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $6.2M 4 trades by 2 insiders · 0% under pre-set plans
Net ▼ $6.2M net selling
Insider Date Trade Shares Price Value
Adcock Mary Ellen Executive Vice President September 18, 2026 Sell 24,095 $60.68 $1.5M
Adcock Mary Ellen Executive Vice President September 18, 2026 Sell 10,846 $60.64 $657,723
Adcock Mary Ellen Executive Vice President September 18, 2026 Sell 37,960 $60.73 $2.3M
Cosset Yael Executive Vice President July 14, 2026 Sell 30,000 $58.80 $1.8M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 72 trades and filings

In the last 12 months, 1 member of Congress disclosed 5 purchases and 2 sales of Kroger shares.

  • David J. Taylor(R-OH 2):Purchase, $1,001 - $15,000, traded July 24, 2026, filed August 6, 2026
  • David J. Taylor(R-OH 2):Purchase, $1,001 - $15,000, traded July 24, 2026, filed August 6, 2026
  • David J. Taylor(R-OH 2):Purchase, $1,001 - $15,000, traded June 5, 2026, filed June 12, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around December 6, 2026 estimated from the company's past filing pattern, not announced

  • September 11, 2026
  • June 18, 2026
  • March 5, 2026
  • December 4, 2025
  • September 11, 2025
  • June 20, 2025

Recent SEC filings

Data status

When each part of this page on Kroger was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Kroger in brief

What does Kroger do?
Kroger is a US-listed company in the food retail industry. Its financial year ends in January.
What is Kroger's stock ticker?
Kroger trades under the ticker KR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Kroger's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Kroger reported revenue of $149B, 1.6% higher than a year earlier, according to its SEC filings.
What is Kroger's free cash flow?
Kroger's free-cash-flow margin is 1.6% of revenue over the trailing twelve months, ranking 6 of the 10 food retail companies we cover.
What is Kroger's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Kroger's free cash flow after stock-based pay gives ~$30 per share in the base case, and ~$17–$48 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Kroger's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Berkshire Hathaway Inc and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Kroger buying back stock, and does it pay a dividend?
Kroger spent $3.8B on share repurchases over the trailing twelve months, and its diluted share count fell 8.7% over the year.
What is Kroger's market cap?
On November 2, 2026, Kroger's market capitalisation was about $43B, with a price-to-earnings ratio of 39.6 and net debt of $13.7B. Market figures come from third-party market data and may be delayed.
Does Kroger pay a dividend?
Yes: Kroger paid $894M in dividends over the trailing twelve months, a dividend yield of 2.15% and a payout ratio of 82.4%.
How much debt does Kroger have?
Kroger's debt-to-equity ratio is 263.1%, from its latest balance sheet (119.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Kroger's competitors?
In our Food Retail peer group, the companies closest to Kroger are Albertsons Companies, Inc., Casey's, Sprouts Farmers Market, Inc., Ingles Markets Inc and Weis Markets Inc. The side-by-side comparison below sets their revenue, margins and growth against Kroger's.
Are insiders buying or selling Kroger stock?
Over the last 12 months, Kroger's directors and officers reported 0 open-market purchases and 4 sales on Form 4. The insider trading page charts every trade.
When is Kroger's next earnings date?
Around December 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Kroger announces its own schedule.