GO Consumer Defensive

Grocery Outlet Holding Corp.

$12.78-3.40%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Consumer Defensive
Industry: Grocery Stores
Country: United States
Market cap: 1.3B USD
Enterprise value: 1.7B USD
Full-time employees: 1,642

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.67 vs a peer median of 0.41), though less than the overall markethigher risk: bigger price swings (beta 0.67 vs peers 0.41)

Ranks #695 of 761 consumer defensive companies (bottom 9%)

See how it ranks against its peers

Worth knowing

Buybacks largely absorbed by stock pay. Stock-based pay expense $52M vs $87M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +1.4% from December 2022 to August 2026.
Over three fiscal years Grocery Outlet recorded $52M of stock-based pay expense and spent $87M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (+1.4%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Grocery Outlet recorded $52M of stock-based pay expense and spent $87M repurchasing shares. The share count barely moved (+1.4%), so much of the repurchasing offset new employee shares rather than shrinking the count.
Earnings slid into a loss. Loss per share this year after a profit last year.
Grocery Outlet made a loss per share in its latest year after a profit the year before.
Operating margin at a 6-year low. -4.7% in 2025, the weakest of the last 6 years.
Grocery Outlet's operating margin fell to -4.7% in 2025, its lowest in the 6 years of filings we have.
Loss over 12 months, profit last quarter. Lost money in the 12 months to July 2026, but made a $5.6M profit in the quarter to July 2026.
Grocery Outlet reported a net loss over the last twelve months, but its most recent quarter was profitable ($5.6M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

StockQuotient Score

23/ 100

Oct 5 22 → Nov 4 23 (+1)

Valuation

Is the price right?

22/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ FCF yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-30.1%

SEC filings · 12 months to Jul 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.51Sector median: 0.0453 · MAD: 0.0301

EBITDA yield6.7%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.46Sector median: 0.0865 · MAD: 0.0435

Free cash flow yield1.0%

SEC filings · 12 months to Jul 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -1.19Sector median: 0.0622 · MAD: 0.0441

Other data (not scored)

Book yield64.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5381 · MAD: 0.2865

Growth

Is it growing?

39/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a profit to a loss33% base weight · Z-score -2.08Sector median: 0.0154 · MAD: 0.2529

3-year revenue growth7.4%

SEC filings · 3 years to Jul 2026Reported value33% base weight · Z-score 0.80Sector median: 0.0366 · MAD: 0.0470

Revenue growth5.1%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score 0.40Sector median: 0.0278 · MAD: 0.0585

Profitability

Does it earn well?

1/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ ROIC
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-7.9%

SEC filings · 12 months to Jul 2026Reported value33% base weight · Z-score -3.05Sector median: 0.0759 · MAD: 0.0508

Return on assets-12.7%

SEC filings · 12 months to Jul 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.62Sector median: 0.0396 · MAD: 0.0262

Return on invested capital-23.7%

SEC filings · 12 months to Jul 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.51Sector median: 0.0766 · MAD: 0.0673

Other data (not scored)

Gross margin30.0%

SEC filings · 12 months to Jul 2026Reported valueInformational · 0% composite weightSector median: 0.3182 · MAD: 0.1263

Return on equity-46.7%

SEC filings · 12 months to Jul 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0831 · MAD: 0.0675

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.67

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.53Sector median: 0.4070 · MAD: 0.1690

Current ratio1.29×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.36Sector median: 1.5250 · MAD: 0.6460

Debt / equity0.62×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.55Sector median: 0.4234 · MAD: 0.3581

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Grocery Outlet

Is Grocery Outlet getting weaker?: Its latest SEC filing (Aug 12, 2026) showed no major changes. Its overall score is unchanged at 23/100 since Oct 28, 2026.
How is Grocery Outlet valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 22/100 against 823 consumer defensive peers. Earnings yield -30.1% vs a peer median of 4.5% (weaker than 100% of peers).Earnings yield -30.1% vs peers 4.5% (weaker than 100% of peers).
Is Grocery Outlet growing?: More slowly than most of its peers. Growth scores 39/100 against 823 consumer defensive peers. 3-year revenue growth 7.4% vs a peer median of 3.7% (stronger than 73% of peers).3-year revenue growth 7.4% vs peers 3.7% (stronger than 73% of peers).
How profitable is Grocery Outlet?: Less profitable than most of its peers. Profitability scores 1/100 against 823 consumer defensive peers. Return on assets -12.7% vs a peer median of 4.0% (weaker than 100% of peers).Return on assets -12.7% vs peers 4.0% (weaker than 100% of peers).
How risky is Grocery Outlet?: Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Beta 0.67 vs a peer median of 0.41 (weaker than 79% of peers).Beta 0.67 vs peers 0.41 (weaker than 79% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jul 4, 2026 · filed Aug 12, 2026 · compared with the quarter ended Apr 4, 2026

No major changes

Worth watching: Grocery Outlet is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	4.7B USD	4.7B USD	+0.3%
Net income (12 months)	−381.9M USD	−381.3M USD	−0.2%
Operating margin	-8.0%	-7.9%	+0.1 pts
Free cash flow (12 months)	25.1M USD	12.1M USD	−51.8%
Debt	489.3M USD	505.6M USD	+3.3%
Cash	59.0M USD	74.2M USD	+25.8%
Shares outstanding	98.9M	99.1M	+0.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Consumer Defensive · 91 companies

Valuations in Consumer Defensive are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
18% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −4% and earnings +7% (medians): prices and earnings moved broadly together.
Median price-to-sales is −58% vs the whole market, against a usual −39%.

2016Shaded: most expensive fifth of its range2026

Shown for Consumer Defensive: too few Grocery Stores companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	30.8%	30.5%	31.3%	30.2%	30.3%	▲ 0.0 pts
Operating margin	2.9%	2.7%	3.2%	1.8%	-4.7%	▼ 6.5 pts
Net margin	2.0%	1.8%	2.0%	0.9%	-4.8%	▼ 5.7 pts
Return on assets (ROA)	2.3%	2.3%	2.7%	1.2%	-7.3%	▼ 8.5 pts
Return on equity (ROE)	6.2%	5.9%	6.5%	3.3%	-22.9%	▼ 26 pts
Free cash flow margin	1.4%	1.5%	3.4%	-1.7%	0.5%	▲ 2.2 pts
Current ratio	1.86×	1.67×	1.35×	1.44×	1.37×	▼ 5.1%
Quick ratio	0.70×	0.47×	0.43×	0.31×	0.32×	▲ 1.2%
Debt to equity	0.46×	0.34×	0.24×	0.40×	0.50×	▲ 26%

GO price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 0.67 vs a peer median of 0.41), though less than the overall markethigher risk: bigger price swings (beta 0.67 vs peers 0.41)

Ranks #695 of 761 consumer defensive companies (bottom 9%)

See how it ranks against its peers

Worth knowing

Buybacks largely absorbed by stock pay. Stock-based pay expense $52M vs $87M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +1.4% from December 2022 to August 2026.

Over three fiscal years Grocery Outlet recorded $52M of stock-based pay expense and spent $87M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). The share count barely moved (+1.4%), so much of the repurchasing offset new employee shares rather than shrinking the count.Over three fiscal years Grocery Outlet recorded $52M of stock-based pay expense and spent $87M repurchasing shares. The share count barely moved (+1.4%), so much of the repurchasing offset new employee shares rather than shrinking the count.

Earnings slid into a loss. Loss per share this year after a profit last year.

Grocery Outlet made a loss per share in its latest year after a profit the year before.

Operating margin at a 6-year low. -4.7% in 2025, the weakest of the last 6 years.

Grocery Outlet's operating margin fell to -4.7% in 2025, its lowest in the 6 years of filings we have.

Loss over 12 months, profit last quarter. Lost money in the 12 months to July 2026, but made a $5.6M profit in the quarter to July 2026.

Grocery Outlet reported a net loss over the last twelve months, but its most recent quarter was profitable ($5.6M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

Questions investors ask about Grocery Outlet

Is Grocery Outlet getting weaker?

Its latest SEC filing (Aug 12, 2026) showed no major changes. Its overall score is unchanged at 23/100 since Oct 28, 2026.

How is Grocery Outlet valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 22/100 against 823 consumer defensive peers. Earnings yield -30.1% vs a peer median of 4.5% (weaker than 100% of peers).Earnings yield -30.1% vs peers 4.5% (weaker than 100% of peers).

Is Grocery Outlet growing?

More slowly than most of its peers. Growth scores 39/100 against 823 consumer defensive peers. 3-year revenue growth 7.4% vs a peer median of 3.7% (stronger than 73% of peers).3-year revenue growth 7.4% vs peers 3.7% (stronger than 73% of peers).

How profitable is Grocery Outlet?

Less profitable than most of its peers. Profitability scores 1/100 against 823 consumer defensive peers. Return on assets -12.7% vs a peer median of 4.0% (weaker than 100% of peers).Return on assets -12.7% vs peers 4.0% (weaker than 100% of peers).

How risky is Grocery Outlet?

Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Beta 0.67 vs a peer median of 0.41 (weaker than 79% of peers).Beta 0.67 vs peers 0.41 (weaker than 79% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

4.7B USD

4.7B USD

+0.3%

Net income (12 months)

−381.9M USD

−381.3M USD

−0.2%

Operating margin

-8.0%

-7.9%

+0.1 pts

Free cash flow (12 months)

25.1M USD

12.1M USD

−51.8%

Debt

489.3M USD

505.6M USD

+3.3%

Cash

59.0M USD

74.2M USD

+25.8%

Shares outstanding

98.9M

99.1M

+0.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

30.8%

30.5%

31.3%

30.2%

30.3%

▲ 0.0 pts

Operating margin

2.9%

2.7%

3.2%

1.8%

-4.7%

▼ 6.5 pts

Net margin

2.0%

1.8%

2.0%

0.9%

-4.8%

▼ 5.7 pts

Return on assets (ROA)

2.3%

2.7%

1.2%

-7.3%

▼ 8.5 pts

Return on equity (ROE)

6.2%

5.9%

6.5%

3.3%

-22.9%

▼ 26 pts

Free cash flow margin

1.4%

1.5%

3.4%

-1.7%

0.5%

▲ 2.2 pts

Current ratio

1.86×

1.67×

1.35×

1.44×

1.37×

▼ 5.1%

Quick ratio

0.70×

0.47×

0.43×

0.31×

0.32×

▲ 1.2%

Debt to equity

0.46×

0.34×

0.24×

0.40×

0.50×

▲ 26%