KHC

MKT CAP:$26B

The Kraft Heinz Company

Market Cap

$26B

Consumer Defensive·Packaged Foods·🇺🇸 United States·NASDAQ

Consumer Def.·Packaged Foods·🇺🇸·NASDAQ

Stock Price

$22.21-$2.18 (-8.94%)

Apr 20, 2026

Company Details

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy...

CEO

Steven A. Cahillane

IPO Date

Jul 6, 2015

Website

www.kraftheinzcompany.com

Key Metrics TTM

Revenue

$24.9B

-3.5% YoY

Net Income

-$5.8B

EPS (Diluted)

-$4.90

Free Cash Flow

$3.7B

Revenue / Share

$21.01

Gross Margin

33.3%

Operating Margin

-18.7%

Net Margin

-23.4%

FCF Margin

14.7%

P/S

1.0x

P/E

—

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 12, 2026

$24.9B-3.5%EPS -$4.93

Q4 2025

Feb 12, 2026

$6.4B-3.4%EPS $0.55

Q3 2025

Oct 29, 2025

$6.2B-2.3%EPS $0.52

Q2 2025

Jul 30, 2025

$6.4B-1.9%EPS -$6.57

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$6.9B	$2.5B	$1.6B
Q3 21	$6.3B	$2.0B	$1.2B
Q2 22	$6.6B	$2.0B	$542M
Q3 22	$6.5B	$1.8B	$751M
Q4 22	$7.4B	$2.4B	$1.2B
Q1 23	$6.5B	$2.1B	$1.2B
Q2 23	$6.7B	$2.3B	$1.4B
Q4 23	$6.9B	$2.3B	$1.3B
Q1 24	$6.4B	$2.2B	$1.3B
Q2 24	$6.5B	$2.3B	$522M
Q3 24	$6.4B	$2.2B	-$101M
Q4 24	$6.6B	$2.2B	-$40M
Q1 25	$6.0B	$2.1B	$1.2B
Q2 25	$6.4B	$2.2B	-$8.0B
Q3 25	$6.2B	$2.0B	$1.0B
Q4 25	$6.4B	$2.1B	$1.1B

Valuation

Quarter	P/S	P/E
Q4 20	1.0x	29.4x
Q3 21	1.0x	36.3x
Q2 22	1.0x	9.8x
Q3 22	1.0x	10.5x
Q4 22	1.0x	11.1x
Q1 23	1.0x	10.6x
Q2 23	1.0x	8.2x
Q4 23	0.9x	7.4x
Q1 24	1.0x	7.6x
Q2 24	1.0x	9.7x
Q3 24	1.0x	18.8x
Q4 24	1.0x	9.4x
Q1 25	1.0x	9.7x
Q2 25	1.0x	—
Q3 25	1.0x	—
Q4 25	1.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	$1.6B	$1.4B
Q3 21	$419M	$195M
Q2 22	$302M	$81M
Q3 22	$729M	$532M
Q4 22	$952M	$668M
Q1 23	$486M	$220M
Q2 23	$1.1B	$856M
Q4 23	$1.4B	$1.1B
Q1 24	$771M	$477M
Q2 24	$942M	$553M
Q3 24	$1.1B	$849M
Q4 24	$1.4B	$1.1B
Q1 25	$720M	$482M
Q2 25	$1.2B	$1.0B
Q3 25	$1.2B	$986M
Q4 25	$1.4B	$1.2B

Capital Expenditures

Quarter	CapEx
Q4 20	$199M
Q3 21	$224M
Q2 22	$221M
Q3 22	$197M
Q4 22	$284M
Q1 23	$266M
Q2 23	$242M
Q4 23	$234M
Q1 24	$294M
Q2 24	$389M
Q3 24	$234M
Q4 24	$247M
Q1 25	$238M
Q2 25	$187M
Q3 25	$171M
Q4 25	$205M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	+8.3%	-5.0%
Q3 21	+4.1%	+5.6%
Q2 22	-1.4%	-24.7%
Q3 22	+1.0%	+8.7%
Q4 22	+6.4%	+14.2%
Q1 23	+2.6%	+1.5%
Q2 23	+2.5%	-11.1%
Q4 23	+5.5%	-3.4%
Q1 24	-13.1%	-17.0%
Q2 24	-0.2%	+13.5%
Q3 24	-5.0%	+21.3%
Q4 24	-4.1%	+19.0%
Q1 25	-6.4%	-6.0%
Q2 25	-1.9%	+140.6%
Q3 25	-2.3%	-19.6%
Q4 25	-3.4%	-20.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$42M	0.6%
Q3 21	$51M	0.8%
Q2 22	$45M	0.7%
Q3 22	$28M	0.4%
Q4 22	$41M	0.6%
Q1 23	$31M	0.5%
Q2 23	$46M	0.7%
Q4 23	$31M	0.5%
Q1 24	$31M	0.5%
Q2 24	$34M	0.5%
Q3 24	$18M	0.3%
Q4 24	$26M	0.4%
Q1 25	$27M	0.5%
Q2 25	$26M	0.4%
Q3 25	$17M	0.3%
Q4 25	$25M	0.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 20	—	$873M	—	—
Q3 21	—	$815M	—	—
Q2 22	—	$763M	—	—
Q3 22	—	$766M	—	—
Q4 22	—	$1.1B	—	—
Q1 23	—	$845M	—	—
Q2 23	—	$857M	—	—
Q4 23	$147M	—	$1.1B	—
Q1 24	—	$908M	—	—
Q2 24	—	$884M	—	—
Q3 24	—	$819M	—	—
Q4 24	—	$869M	—	—
Q1 25	—	$837M	$31M	—
Q2 25	—	—	—	$891M
Q3 25	—	—	—	$930M
Q4 25	—	—	—	$983M

Revenue Segments

Quarter	Ambient meals	Cheese and dairy	Coffee	Condiments and Sauces	Desserts, toppings and baking	Frozen and chilled meals	Infant and nutrition	Meats and seafood	Nuts and salted snacks	Other products	Refreshment beverages	Easy Ready Meals	Hydration	Meats	Substantial Snacking	Taste Elevation
Q3 21	$724M	$1.2B	$200M	$1.8B	$277M	$666M	$115M	$679M	$6M	$208M	$443M	—	—	—	—	—
Q2 22	$684M	$928M	$217M	$2.1B	$286M	$708M	$107M	$693M	—	$236M	$558M	—	—	—	—	—
Q3 22	$730M	$932M	$213M	$2.0B	$276M	$731M	$94M	$704M	—	$261M	$516M	—	—	—	—	—
Q4 22	$911M	$1.2B	$259M	$2.2B	$387M	$809M	$106M	$708M	—	$272M	$469M	—	—	—	—	—
Q1 23	$749M	$917M	$220M	$2.2B	$259M	$719M	$93M	$595M	—	$279M	$489M	—	—	—	—	—
Q2 23	$689M	$883M	$212M	$2.4B	$296M	$709M	$96M	$644M	—	$234M	$568M	—	—	—	—	—
Q1 24	—	$413M	$221M	—	$241M	—	—	—	—	$129M	—	$1.1B	$534M	$511M	$443M	$2.8B
Q2 24	—	$434M	$202M	—	$290M	—	—	—	—	$93M	—	$1.1B	$643M	$584M	$318M	$2.8B
Q3 24	—	$426M	$200M	—	$292M	—	—	—	—	$75M	—	$1.2B	$539M	$538M	$317M	$2.8B
Q4 24	—	$473M	$212M	—	$329M	—	—	—	—	$202M	—	$1.4B	$413M	$503M	$152M	$2.9B
Q1 25	—	$400M	$220M	—	$223M	—	—	—	—	$99M	—	$1.0B	$502M	$473M	$395M	$2.7B
Q2 25	—	$425M	$207M	—	$277M	—	—	—	—	$85M	—	$948M	$570M	$528M	$380M	$2.9B
Q3 25	—	$392M	$219M	—	$291M	—	—	—	—	$84M	—	$1.0B	$552M	$485M	$406M	$2.8B
Q4 25	—	$440M	$221M	—	$332M	—	—	—	—	$127M	—	$1.1B	$471M	$438M	$351M	$2.9B

Revenue by Geography

Quarter	Canada Segment	Rest of World Segment	United States Segment	Emerging Markets	International Developed Markets Segment	North America Segment
Q3 21	$420M	$1.4B	$4.5B	—	—	—
Q2 22	—	$1.5B	$5.0B	—	—	—
Q3 22	—	$1.5B	$5.0B	—	—	—
Q1 23	—	$1.6B	$4.9B	—	—	—
Q2 23	—	$1.6B	$5.1B	—	—	—
Q1 24	—	—	—	$728M	$855M	$4.8B
Q2 24	—	—	—	$670M	$885M	$4.9B
Q3 24	—	—	—	$675M	$882M	$4.8B
Q1 25	—	—	—	$694M	$817M	$4.5B
Q2 25	—	—	—	$698M	$897M	$4.8B
Q3 25	—	—	—	$701M	$895M	$4.6B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3.0B	$0	$3.0B
Q2 22	$1.5B	$0	$1.5B
Q3 22	$997M	$0	$997M
Q4 22	$1.0B	$0	$1.0B
Q1 23	$826M	$0	$826M
Q2 23	$947M	$0	$947M
Q3 23	$1.1B	$0	$1.1B
Q4 23	$1.4B	$0	$1.4B
Q1 24	$1.6B	$0	$1.6B
Q2 24	$900M	$0	$900M
Q3 24	$1.3B	$0	$1.3B
Q4 24	$1.3B	$0	$1.3B
Q1 25	$2.1B	$674M	$2.8B
Q2 25	$1.6B	$997M	$2.6B
Q3 25	$2.1B	$1.0B	$3.1B
Q4 25	$2.6B	$1.1B	$3.7B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	1.23B	+0.1%	+0.7%
Q3 21	1.24B	+0.5%	+1.1%
Q2 22	1.24B	-0.1%	+1.0%
Q3 22	1.24B	0.0%	+0.5%
Q4 22	1.23B	-0.2%	+0.2%
Q1 23	1.23B	+0.1%	-0.2%
Q2 23	1.24B	+0.1%	0.0%
Q4 23	1.23B	-0.2%	-0.2%
Q1 24	1.22B	-0.7%	-0.8%
Q2 24	1.22B	-0.6%	-1.5%
Q3 24	1.21B	-0.5%	-2.0%
Q4 24	1.21B	-0.2%	-2.0%
Q1 25	1.19B	-1.1%	-2.4%
Q2 25	1.19B	-0.3%	-2.1%
Q3 25	1.19B	-0.3%	-2.0%
Q4 25	1.19B	+0.1%	-1.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 20	$182.6K	38K
Q3 21	$166.4K	38K
Q2 22	$182.1K	36K
Q3 22	$180.7K	36K
Q4 22	$199.5K	37K
Q1 23	$175.4K	37K
Q2 23	$181.6K	37K
Q4 23	$190.6K	36K
Q1 24	$178.1K	36K
Q2 24	$179.9K	36K
Q3 24	$177.3K	36K
Q4 24	$182.7K	36K
Q1 25	$166.6K	36K
Q2 25	$176.4K	36K
Q3 25	$173.3K	36K
Q4 25	$181.5K	35K

Revenue / Employee