Grocery Outlet Holding (GO) financial statements
Grocery Outlet Holding reported revenue of $4.7B in fiscal 2025, up 10.7% a year over 8 years.
Net income was -$225M and the operating margin -4.7%, against 3.7% in 2017.
Free cash flow was $24M.
The diluted share count rose 43% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Grocery Outlet Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.1B | $2.3B | $2.6B | $3.1B | $3.1B | $3.6B | $4.0B | $4.4B | $4.7B |
| Cost of revenue | $1.4B | $1.6B | $1.8B | $2.2B | $2.1B | $2.5B | $2.7B | $3.0B | $3.3B |
| Gross profit | $632M | $695M | $787M | $973M | $949M | $1.1B | $1.2B | $1.3B | $1.4B |
| Selling, general and admin | $510M | $557M | $639M | $772M | $860M | $997M | $1.1B | $1.2B | $1.3B |
| Operating income | $77M | $82M | $68M | $107M | $89M | $95M | $126M | $78M | -$222M |
| Pre-tax income | $26M | $22M | $17M | $87M | $78M | $76M | $104M | $56M | -$249M |
| Income tax | $5M | $6M | $1M | -$20M | $15M | $11M | $25M | $17M | -$24M |
| Net income | $21M | $16M | $15M | $107M | $62M | $65M | $79M | $39M | -$225M |
| EPS (diluted) | $0.30 | $0.23 | $0.19 | $1.08 | $0.63 | $0.65 | $0.79 | $0.40 | -$2.30 |
| Diluted shares | 68M | 69M | 82M | 98M | 99M | 100M | 101M | 100M | 98M |
| Gross margin | 30.4% | 30.4% | 30.8% | 31.1% | 30.8% | 30.5% | 31.3% | 30.2% | 30.3% |
| Operating margin | 3.7% | 3.6% | 2.7% | 3.4% | 2.9% | 2.7% | 3.2% | 1.8% | -4.7% |
| Net margin | 1.0% | 0.7% | 0.6% | 3.4% | 2.0% | 1.8% | 2.0% | 0.9% | -4.8% |
Balance sheet
Fiscal years, from Grocery Outlet Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $6M | $21M | $28M | $105M | $140M | $103M | $115M | $63M | $70M |
| Receivables | — | $4M | $5M | $3M | $6M | $9M | $13M | $16M | $15M |
| Total current assets | — | $240M | $271M | $382M | $443M | $467M | $517M | $504M | $498M |
| Property, plant and equipment | — | $304M | $357M | $434M | $499M | $561M | $642M | $750M | $743M |
| Goodwill | — | $748M | $748M | $748M | $748M | $748M | $748M | $783M | $634M |
| Total assets | — | $1.4B | $2.2B | $2.5B | $2.7B | $2.8B | $3.0B | $3.2B | $3.1B |
| Total current liabilities | — | $151M | $209M | $233M | $238M | $281M | $384M | $350M | $364M |
| Long-term debt | — | $850M | $448M | $449M | $451M | $380M | $287M | $463M | $478M |
| Total liabilities | — | $1.1B | $1.4B | $1.6B | $1.7B | $1.7B | $1.8B | $2.0B | $2.1B |
| Shareholders' equity | $427M | $300M | $745M | $922M | $1.0B | $1.1B | $1.2B | $1.2B | $984M |
| Net debt | -$6M | $829M | $420M | $344M | $311M | $277M | $178M | $415M | $423M |
Cash flow
Fiscal years, from Grocery Outlet Holding's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $85M | $106M | $133M | $181M | $166M | $186M | $303M | $112M | $222M |
| Capital spending | $71M | $65M | $97M | $125M | $123M | $130M | $169M | $187M | $198M |
| Free cash flow | $14M | $41M | $36M | $56M | $42M | $55M | $134M | -$75M | $24M |
| Stock-based compensation | $2M | $10M | $31M | $38M | $18M | $33M | $31M | $11M | $10M |
| Dividends paid | $1M | $154M | $4M | $434,000 | $186,000 | $105,000 | $15,000 | $0 | $0 |
| Share buybacks (net) | — | — | — | $0 | $0 | -$3M | -$6M | -$81M | $0 |
| Free cash flow margin | 0.7% | 1.8% | 1.4% | 1.8% | 1.4% | 1.5% | 3.4% | -1.7% | 0.5% |
| Dividends per share | $0.02 | $2.24 | $0.04 | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
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Open GO in InvestinglyQuestions
What was Grocery Outlet Holding's revenue in 2025?
$4.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does Grocery Outlet Holding generate?
$24M in fiscal 2025 (operating cash flow minus capital spending).
From Grocery Outlet Holding's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.