NASDAQ NMS - GLOBAL MARKET · Food Products · CIK 0001637459
$23.50
-1.38% · delayed ~15 min
Last price from Oct 21, 2026
$27.82B market value
From Kraft Heinz Co's FY2025 10-K, filed Feb 12, 2026 · read the filing
Kraft Heinz makes food and drink. It took in $24.94B last year, which makes it a large company. It spends more than it earns — losing about 23 cents on every dollar of sales.
The financial picture is led by accounting, while profitability, growth and debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Received a delisting or listing-standard notice, in a filing on 2026-08-26.
Form 8-K, item 3.01 · Read the filing
A published bankruptcy-risk model places it in its distress range. This is a statistical reading, not a forecast.
Altman Z-Score 0.47
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Several areas of financial weakness.
From Kraft Heinz Co's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Operating income
$1.68B → -$4.67B
Profit
$2.74B → -$5.85B
Operating margin
6.5% → -18.7%
Profit margin
10.6% → -23.4%
Measured against FY2024, from the 10-K filed Feb 12, 2026
Deteriorated: turned negative
$1.68B to -$4.67BCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: turned negative
$2.74B to -$5.85BCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote delayed ~15 min), and what was published around it
KHC fell 1.38% on the latest quote. The average Consumer Staples company tracked here moved +3.96%, and the S&P 500 −1.04%. That is 5.3 points below its sector and in line with the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to shrink by about 0% a year for the next 10 years. Over the last 11 years it grew by about 7% a year.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $5.85B last year, losing about 23 cents on every dollar of sales.
No. Sales shrank 3.5% last year.
Manageable, but notable. Clearing its debt would take about 4.2 years of cash flow. For every $1 it owes, it owns $2.04 in assets. Its operating profit does not cover its interest bill — -4.93x against the interest it owes. A bankruptcy-risk model also places it in its distress range.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It paid a dividend while making a loss, so the payment did not come out of profits — it came from reserves, borrowing or asset sales. It paid out 43% of the cash its operations generated. It has paid in each of the last 10 years.
WeakNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it lost $5.85B and generated $4.46B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 12, 2026Filing for FY2025 | FY202410-K · Feb 13, 2025Filing for FY2024 | FY202310-K · Feb 15, 2024Filing for FY2023 | FY202210-K · Feb 16, 2023Filing for FY2022 | FY202110-K · Feb 17, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $24.94B | $25.85B | $26.64B | $26.48B | $26.04B | −3.5% |
| Cost of revenue | $16.63B | $16.88B | $17.71B | $18.36B | $17.36B | −1.5% |
| Gross profit | $8.31B | $8.97B | $8.93B | $8.12B | $8.68B | −7.3% |
| Gross marginGross profit ÷ revenueWhat is this? | 33.3% | 34.7% | 33.5% | 30.7% | 33.3% | −1.4 pts |
| Selling, general and administrative | $12.98B | $7.29B | $4.35B | $4.49B | $5.22B | +78.1% |
| Operating income | -$4.67B | $1.68B | $4.57B | $3.63B | $3.46B | n/m |
| Operating marginOperating income ÷ revenueWhat is this? | -18.7% | 6.5% | 17.2% | 13.7% | 13.3% | −25.2 pts |
| Interest expense | $947.0M | $912.0M | $912.0M | $921.0M | $2.05B | +3.8% |
| Income before tax | -$5.45B | $856.0M | $3.63B | $2.97B | $1.71B | n/m |
| Net income | -$5.85B | $2.74B | $2.85B | $2.36B | $1.01B | n/m |
| Net marginNet income ÷ revenueWhat is this? | -23.4% | 10.6% | 10.7% | 8.9% | 3.9% | −34.1 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-4.94 | $2.30 | $2.34 | $1.93 | $0.8268 | n/m |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| KHCKraft Heinz Co · this page | 4.0/10 | 5/9 | -3.5% |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 103,354 shares ($2.5M) on or after .
Shares originally obtained via Restricted Stock Vesting Under a Registered Plan.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Reported another event
Read the filingHad a director or senior officer leave or join
Read the filingWrite down why you are following Kraft Heinz Co, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 166 subsidiaries named in its 10-K, incorporated across 44 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from KHC's 10-K for fiscal year 2025 (period ending 2025-12-27, filed Feb 12, 2026), reported under the US GAAP taxonomy. View the source filing.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 4.0 | 5/9 | 10-K, filed Feb 12, 2026 |
| FY2024 | 6.0 | 6/9 | 10-K, filed Feb 13, 2025 |
| FY2023 | 7.0 | 8/9 | 10-K, filed Feb 15, 2024 |
| FY2022 | 6.0 | 7/9 | 10-K, filed Feb 16, 2023 |
| FY2021 | 5.0 | 7/9 | 10-K, filed Feb 17, 2022 |
| FY2020 | 6.0 | 7/9 | 10-K, filed Feb 17, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
5 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
0.47
In the distress zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-3.21
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Deteriorated: −25.2 pts
6.5% to -18.7%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −34.1 pts
10.6% to -23.4%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: turned negative
$2.30 to -$4.94Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +96.0%
$1.33B to $2.62BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +15.9%
$3.16B to $3.66BSignificant
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Changed: -21.8%
$1.02B to $801.0MSignificant
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Deteriorated: -7.3%
$8.97B to $8.31BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: −1.4 pts
34.7% to 33.3%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 5, 2026 — read it.
Improved: +22.8 pts
-125.5% to -102.7%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +36.0 pts
-123.2% to -87.2%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +54.4%
$1.57B to $2.42BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: $1.54B narrower
-$7.97B to -$6.43BSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: $2.36B narrower
-$7.82B to -$5.46BSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: $2.00 narrower
-$6.61 to -$4.60Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -7.1%
$2.18B to $2.03BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: −2.0 pts
34.4% to 32.4%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: -8.7%
$19.31B to $17.62BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 5, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: turned negative
$1.15B to -$6.43BCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: turned negative
$798.0M to -$5.46BCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −121.6 pts
18.9% to -102.7%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −100.4 pts
13.2% to -87.2%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: turned negative
$0.67 to -$4.60Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: −4.3 pts
36.7% to 32.4%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: -26.9%
$3.31B to $2.42BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Deteriorated: -8.6%
$2.22B to $2.03BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: -8.3%
$19.22B to $17.62BNotable
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
4 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
Loading price history…
Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between -2% and 1%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 7.8% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
| -23.4% |
| — |
| 0.96x |
| MDLZMondelez International, Inc. | 7.0/10 | 5/9 | 5.8% | 6.4% | 34.40x | 1.76x |
|---|
| HSYHERSHEY CO | 8.0/10 | 5/9 | 4.4% | 7.6% | 40.34x | 1.96x |
|---|
| TSNTYSON FOODS, INC. | 7.0/10 | 6/9 | 2.1% | 0.9% | 42.98x | 1.03x |
|---|
| GISGENERAL MILLS INC | 4.0/10 | 5/9 | -5.4% | -0.5% | — | 3.07x |
|---|
| SJMJ M SMUCKER Co | 5.0/10 | 6/9 | 3.7% | -1.5% | — | 1.93x |
|---|
| HRLHORMEL FOODS CORP /DE/ | 8.0/10 | 6/9 | 1.6% | 4.0% | 24.57x | 0.70x |
|---|
| Median of peers | 7.0/10 | — | 2.9% | 2.4% | 37.37x | 1.85x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Received a delisting or listing-standard notice · Made a Regulation FD disclosure
Quarterly report for Q2 FY2026
Operating margin +22.8 pts · Profit margin +36.0 pts · Cash +54.4% — against Q2 FY2025
Read the filingPublished results
Read the filingAmended its charter or changed its financial year
Read the filingHad a director or senior officer leave or join
Read the filingMade a Regulation FD disclosure
Read the filingSigned a material agreement · Took on a direct financial obligation · Made a Regulation FD disclosure
Read the filingHeld a shareholder vote
Read the filingReported another event
Read the filingMade a Regulation FD disclosure
Read the filingQuarterly report for Q1 FY2026
Operating margin −1.0 pts · Free cash flow +58.9% · Cash +56.6% — against Q1 FY2025
Read the filingPublished results
Read the filingProxy statement for a shareholder meeting
Read the filingHad a director or senior officer leave or join
Read the filingAnnual report for FY2025
Operating margin −25.2 pts · Operating income turned negative · Profit turned negative — against FY2024
Read the filingPublished results
Read the filingReported another event
Read the filingHad a director or senior officer leave or join · Made a Regulation FD disclosure
Read the filingThe first 40 of 166. The rest are in the exhibit.
Source: Exhibit 21 of the 10-K filed 2026-02-12. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
Coverage from the last 30 days
Kraft Heinz (KHC) vs. GIS and CAG: Can Strong Cash Generation and Debt Paydown Revive a Forgotten Consumer Staples Stock?
Yahoo ·
These 5 Grocery Aisle Giants Are Splitting Into Dividend Winners and Losers
Yahoo ·
Can Campbell's Digital Marketing Strategy Fuel Everyday Meal Sales?
Yahoo ·
JP Morgan Maintains Underweight on Kraft Heinz, Lowers Price Target to $23
Benzinga ·
These 5 Dividend Stocks Look Like Income Bargains. The Math Says Otherwise
Yahoo ·
Kraft Heinz (KHC) Stock Sees Modest Fair Value Cut As Analyst Targets Cluster Low
Yahoo ·
Kraft Heinz (KHC) Says Angel S. Willis Has Resigned
Yahoo ·
Should Tyson Foods Stock Holders Look At JM Smucker Instead?
Yahoo ·
Kraft Heinz (KHC) Gains As Market Dips: What You Should Know
Yahoo ·
Barclays Maintains Equal-Weight on Kraft Heinz, Lowers Price Target to $25
Benzinga ·
Two Food Giants Yield Over 7%. Only One Has the Cash to Back It Up
Yahoo ·
This High-Yield Stock Pays Investors 7%+, but There’s a Catch
Yahoo ·
Primary sources and further research