Krispy Kreme (DNUT) financial statements
Krispy Kreme reported revenue of $1.5B in fiscal 2025, up 8.0% a year over 6 years.
Net income was -$516M and the operating margin -30.8%, against 4.0% in 2019.
Free cash flow was -$64M, and the company returned $12M in dividends and $1M in net buybacks.
The diluted share count rose 37% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Krispy Kreme's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $959M | $1.1B | $1.4B | $1.5B | $1.7B | $1.7B | $1.5B |
| Selling, general and admin | $161M | $182M | $222M | $223M | $267M | $274M | $226M |
| Operating income | $38M | $4M | $41M | $29M | $13M | -$9M | -$469M |
| Pre-tax income | -$21M | -$52M | -$4M | -$8M | -$41M | $20M | -$545M |
| Income tax | $13M | $9M | $11M | $612,000 | -$4M | $16M | -$21M |
| Net income | -$37M | -$64M | -$25M | -$16M | -$38M | $3M | -$516M |
| EPS (diluted) | -$0.30 | -$0.52 | -$0.18 | -$0.10 | -$0.23 | $0.02 | -$3.04 |
| Diluted shares | 125M | 125M | 148M | 167M | 168M | 172M | 171M |
| Operating margin | 4.0% | 0.4% | 3.0% | 1.9% | 0.8% | -0.5% | -30.8% |
| Net margin | -3.9% | -5.7% | -1.8% | -1.0% | -2.2% | 0.2% | -33.9% |
Balance sheet
Fiscal years, from Krispy Kreme's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $35M | $37M | $39M | $35M | $38M | $29M | $42M |
| Receivables | — | $74M | $47M | $51M | $59M | $68M | $62M |
| Inventory | — | $39M | $35M | $46M | $35M | $28M | $27M |
| Total current assets | — | $164M | $157M | $178M | $174M | $173M | $174M |
| Property, plant and equipment | — | $395M | $439M | $472M | $538M | $511M | $461M |
| Goodwill | $1.0B | $1.1B | $1.1B | $1.1B | $1.1B | $1.0B | $712M |
| Total assets | — | $3.1B | $3.1B | $3.1B | $3.2B | $3.1B | $2.6B |
| Total current liabilities | — | $498M | $526M | $516M | $526M | $486M | $457M |
| Long-term debt | — | $786M | $680M | $739M | $837M | $845M | $912M |
| Total liabilities | — | $2.2B | $1.8B | $1.8B | $2.0B | $1.9B | $1.9B |
| Shareholders' equity | $883M | $685M | $1.2B | $1.2B | $1.2B | $1.1B | $650M |
| Net debt | -$35M | $790M | $678M | $744M | $853M | $872M | $935M |
Cash flow
Fiscal years, from Krispy Kreme's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $81M | $29M | $141M | $140M | $46M | $46M | $34M |
| Capital spending | $76M | $98M | $119M | $112M | $121M | $121M | $98M |
| Free cash flow | $4M | -$69M | $22M | $28M | -$76M | -$75M | -$64M |
| Stock-based compensation | $11M | $12M | $23M | $18M | $24M | $35M | $13M |
| Dividends paid | $3M | $42,000 | $48M | $23M | $24M | $24M | $12M |
| Share buybacks (net) | $0 | $0 | -$139M | -$4M | -$2M | -$5M | -$1M |
| Net borrowing | $804M | $288M | $695M | $149M | $1.2B | $676M | $779M |
| Free cash flow margin | 0.5% | -6.2% | 1.6% | 1.8% | -4.5% | -4.5% | -4.2% |
| Dividends per share | $0.02 | $0.00 | $0.33 | $0.14 | $0.14 | $0.14 | $0.07 |
Questions
What was Krispy Kreme's revenue in 2025?
$1.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Krispy Kreme generate?
-$64M in fiscal 2025 (operating cash flow minus capital spending).
From Krispy Kreme's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.