Kohl's (KSS) financial statements
Kohl's reported revenue of $15.5B in fiscal 2026, down 2.6% a year over 9 years.
Net income was $272M and the operating margin 4.0%, against 6.0% in 2017.
Free cash flow was $1.0B, and the company returned $56M in dividends.
The diluted share count fell 36% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Kohl's's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.7B | $20.1B | $20.2B | $20.0B | $16.0B | $19.4B | $18.1B | $17.5B | $16.2B | $15.5B |
| Cost of revenue | $11.9B | $12.2B | $12.2B | $12.1B | $10.4B | $11.4B | $11.5B | $10.5B | $9.7B | $9.2B |
| Gross profit | $6.7B | $6.9B | $8.0B | $7.8B | $5.6B | $8.0B | $6.6B | $7.0B | $6.6B | $6.3B |
| Selling, general and admin | $5.4B | $5.5B | $5.6B | $5.7B | $5.0B | $5.5B | $5.6B | $5.5B | $5.3B | $5.1B |
| Operating income | $1.2B | $1.4B | $1.4B | $1.1B | -$262M | $1.7B | $246M | $717M | $433M | $624M |
| Pre-tax income | $875M | $1.1B | $1.0B | $901M | -$546M | $1.2B | -$58M | $373M | $114M | $336M |
| Income tax | $319M | $258M | $241M | $210M | -$383M | $281M | -$39M | $56M | $5M | $64M |
| Net income | $556M | $859M | $801M | $691M | -$163M | $938M | -$19M | $317M | $109M | $272M |
| EPS (diluted) | $3.11 | $5.12 | $4.84 | $4.37 | -$1.06 | $6.32 | -$0.15 | $2.85 | $0.98 | $2.38 |
| Diluted shares | 179M | 168M | 165M | 158M | 154M | 148M | 120M | 111M | 112M | 114M |
| Gross margin | 34.3% | 34.5% | 39.7% | 39.2% | 35.1% | 41.1% | 36.7% | 39.9% | 40.4% | 40.6% |
| Operating margin | 6.0% | 7.1% | 6.7% | 5.5% | -1.6% | 8.6% | 1.4% | 4.1% | 2.7% | 4.0% |
| Net margin | 2.8% | 4.3% | 4.0% | 3.5% | -1.0% | 4.8% | -0.1% | 1.8% | 0.7% | 1.8% |
Balance sheet
Fiscal years, from Kohl's's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.1B | $1.3B | $934M | $723M | $2.3B | $1.6B | $153M | $183M | $134M | $674M |
| Inventory | $3.8B | $3.5B | $3.5B | $3.5B | $2.6B | $3.1B | $3.2B | $2.9B | $2.9B | $2.7B |
| Total current assets | $5.2B | $5.4B | $4.8B | $4.6B | $5.8B | $5.0B | $3.7B | $3.4B | $3.4B | $3.7B |
| Property, plant and equipment | $8.1B | $7.8B | $7.4B | $7.4B | $6.7B | $7.3B | $7.9B | $7.7B | $7.3B | $6.9B |
| Total assets | $13.6B | $13.4B | $12.5B | $14.6B | $15.3B | $15.1B | $14.3B | $14.0B | $13.6B | $13.4B |
| Total current liabilities | $3.0B | $2.7B | $2.7B | $2.8B | $3.0B | $3.3B | $3.1B | $2.6B | $3.1B | $2.5B |
| Long-term debt | $2.8B | $2.8B | $1.9B | $1.9B | $2.5B | $1.9B | $1.6B | $1.6B | $1.2B | $1.4B |
| Total liabilities | $8.4B | $8.0B | $6.9B | $9.1B | $10.1B | $10.4B | $10.6B | $10.1B | $9.8B | $9.3B |
| Shareholders' equity | $5.2B | $5.4B | $5.5B | $5.5B | $5.2B | $4.7B | $3.8B | $3.9B | $3.8B | $4.0B |
| Net debt | $1.7B | $1.5B | $927M | $1.1B | $180M | $323M | $1.8B | $1.5B | $1.4B | $762M |
Cash flow
Fiscal years, from Kohl's's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.2B | $1.7B | $2.1B | $1.7B | $1.3B | $2.3B | $282M | $1.2B | $648M | $1.4B |
| Capital spending | $768M | $672M | $578M | $855M | $334M | $605M | $826M | $577M | $466M | $372M |
| Free cash flow | $1.4B | $1.0B | $1.5B | $802M | $1.0B | $1.7B | -$544M | $591M | $182M | $1.0B |
| Stock-based compensation | $41M | $55M | $87M | $56M | $40M | $48M | $30M | $42M | $30M | $34M |
| Dividends paid | $358M | $368M | $400M | $423M | $108M | $147M | $239M | $220M | $222M | $56M |
| Share buybacks (net) | -$557M | -$306M | -$396M | -$470M | -$8M | -$1.4B | -$658M | — | $0 | — |
| Net borrowing | $0 | — | -$943M | -$6M | $600M | -$544M | — | -$275M | -$113M | -$83M |
| Free cash flow margin | 7.0% | 5.1% | 7.6% | 4.0% | 6.3% | 8.6% | -3.0% | 3.4% | 1.1% | 6.5% |
| Dividends per share | $2.00 | $2.19 | $2.42 | $2.68 | $0.70 | $0.99 | $1.99 | $1.98 | $1.98 | $0.49 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for KSS.
Open KSS in InvestinglyQuestions
What was Kohl's's revenue in 2026?
$15.5B in fiscal 2026, from its 10-K filing.
How much free cash flow does Kohl's generate?
$1.0B in fiscal 2026 (operating cash flow minus capital spending).
From Kohl's's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.