KR Consumer Defensive

The Kroger Co.

$66.81-2.27%

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: 39.5B USD
Enterprise value: 51.3B USD
Full-time employees: 400,000

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.70 vs a peer median of 1.52) and more debt relative to equity (2.63× vs a peer median of 0.42×)higher risk: less liquidity (current ratio 0.70 vs peers 1.52) and more debt vs equity (2.63× vs peers 0.42×)
About average: valuation

Ranks #672 of 761 consumer defensive companies (bottom 12%)

See how it ranks against its peers

Worth knowing

Much more borrowing than peers. Debt is 2.6× equity vs a peer median of 0.4×.Debt is 2.6× equity vs peers 0.4×.
Debt is 2.6× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 2.6× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.
Sales growing faster than profits. Since FY Jan 2023: revenue −0.4%, operating profit −54%.
Since FY Jan 2023, Kroger's revenue changed −0.4% while operating profit fell 54%: costs rose faster than sales.
Cash flow well above reported profit. Free cash flow is 2.2× reported profit.
Free cash flow is 2.2× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Thin margins. Operating margin 1.4% (12 months to Aug 2026) vs a peer median of 7.6%.Operating margin 1.4% vs peers 7.6%.
Kroger keeps 1.4% of revenue as operating profit, less than most peers (median 7.6%), leaving less room if costs rise.

StockQuotient Score

26/ 100

Oct 5 27 → Nov 4 26 (-1)

Valuation

Is the price right?

48/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Share count down 3.6%

Valuation also moves with the share price every day.

Why

Held back by:

▼ Earnings yield

Compare with peers

Behind the score

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

Earnings yield2.7%

SEC filings · 12 months to Aug 2026Reported value30% base weight · Z-score -0.59Sector median: 0.0453 · MAD: 0.0301

EBITDA yield10.0%

SEC filings · 12 months to Aug 2026Reported value50% base weight · Z-score 0.32Sector median: 0.0865 · MAD: 0.0435

Free cash flow yield6.0%

SEC filings · 12 months to Aug 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.04Sector median: 0.0622 · MAD: 0.0441

Other data (not scored)

Book yield14.8%

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

Growth

Is it growing?

19/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ EPS growth
▼ 3-yr revenue

Compare with peers

Behind the score

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

Earnings per share growth-55.4%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -2.25Sector median: 0.0154 · MAD: 0.2529

3-year revenue growth0.3%

SEC filings · 3 years to Aug 2026Reported value33% base weight · Z-score -0.72Sector median: 0.0366 · MAD: 0.0470

Revenue growth1.6%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -0.20Sector median: 0.0278 · MAD: 0.0585

Profitability

Does it earn well?

30/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA

Compare with peers

Behind the score

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

Operating margin1.4%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -1.22Sector median: 0.0759 · MAD: 0.0508

Return on assets2.2%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score -0.67Sector median: 0.0396 · MAD: 0.0262

Return on invested capital8.4%

SEC filings · 12 months to Aug 2026Reported value33% base weight · Z-score 0.11Sector median: 0.0766 · MAD: 0.0673

Other data (not scored)

Gross margin23.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3182 · MAD: 0.1263

Return on equity18.6%

SEC filings · 12 months to Aug 2026Reported valueInformational · 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:

▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

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

Beta0.35

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.32Sector median: 0.4070 · MAD: 0.1690

Current ratio0.70×

SEC filings · latest balance sheetReported value33% base weight · Z-score -1.27Sector median: 1.5250 · MAD: 0.6460

Debt / equity2.63×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -5.63Sector 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 Kroger

Is Kroger getting weaker?: Its latest SEC filing (Sep 18, 2026) got stronger: share count down 3.6%. Its overall score is unchanged at 26/100 since Oct 28, 2026.
How is Kroger valued vs its peers?: Priced about in line with its peers. Valuation scores 48/100 against 823 consumer defensive peers. Earnings yield 2.7% vs a peer median of 4.5% (weaker than 67% of peers).Earnings yield 2.7% vs peers 4.5% (weaker than 67% of peers).
Is Kroger growing?: More slowly than most of its peers. Growth scores 19/100 against 823 consumer defensive peers. Earnings per share growth -55.4% vs a peer median of 1.5% (weaker than 91% of peers).Earnings per share growth -55.4% vs peers 1.5% (weaker than 91% of peers).
How profitable is Kroger?: Less profitable than most of its peers. Profitability scores 30/100 against 823 consumer defensive peers. Operating margin 1.4% vs a peer median of 7.6% (weaker than 84% of peers).Operating margin 1.4% vs peers 7.6% (weaker than 84% of peers).
How risky is Kroger?: Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Debt / equity 2.63× vs a peer median of 0.42× (weaker than 100% of peers).Debt / equity 2.63× vs peers 0.42× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Aug 15, 2026 · filed Sep 18, 2026 · compared with the quarter ended May 23, 2026

Got stronger

Share count down 3.6%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	148.6B USD	149.3B USD	+0.5%
Net income (12 months)	1.1B USD	1.1B USD	+2.9%
Operating margin	1.3%	1.4%	+0.1 pts
Free cash flow (12 months)	2.8B USD	2.4B USD	−15.8%
Debt	15.4B USD	15.4B USD	−0.1%
Cash	2.9B USD	1.7B USD	−41.7%
Shares outstanding	612.6M	590.6M	−3.6%

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 Jan 2022	FY Jan 2023	FY Jan 2024	FY Jan 2025	FY Jan 2026	Change
Operating margin	2.5%	2.8%	2.1%	2.6%	1.3%	▼ 1.3 pts
Net margin	1.2%	1.5%	1.4%	1.8%	0.7%	▼ 1.1 pts
Return on assets (ROA)	3.4%	4.5%	4.3%	5.1%	2.0%	▼ 3.0 pts
Return on equity (ROE)	17.5%	22.3%	18.6%	32.2%	17.1%	▼ 15 pts
Free cash flow margin	2.6%	1.0%	1.9%	1.2%	2.3%	▲ 1.1 pts
Current ratio	0.75×	0.74×	0.81×	0.96×	0.80×	▼ 16%
Debt to equity	1.24×	1.12×	0.88×	1.92×	2.68×	▲ 39%
Interest coverage	6.09×	7.71×	7.02×	—	—	—

KR 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: higher risk than most peers: less short-term liquidity (current ratio 0.70 vs a peer median of 1.52) and more debt relative to equity (2.63× vs a peer median of 0.42×)higher risk: less liquidity (current ratio 0.70 vs peers 1.52) and more debt vs equity (2.63× vs peers 0.42×)

About average: valuation

Ranks #672 of 761 consumer defensive companies (bottom 12%)

See how it ranks against its peers

Worth knowing

Much more borrowing than peers. Debt is 2.6× equity vs a peer median of 0.4×.Debt is 2.6× equity vs peers 0.4×.

Debt is 2.6× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 2.6× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.

Sales growing faster than profits. Since FY Jan 2023: revenue −0.4%, operating profit −54%.

Since FY Jan 2023, Kroger's revenue changed −0.4% while operating profit fell 54%: costs rose faster than sales.

Cash flow well above reported profit. Free cash flow is 2.2× reported profit.

Free cash flow is 2.2× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Thin margins. Operating margin 1.4% (12 months to Aug 2026) vs a peer median of 7.6%.Operating margin 1.4% vs peers 7.6%.

Kroger keeps 1.4% of revenue as operating profit, less than most peers (median 7.6%), leaving less room if costs rise.

Questions investors ask about Kroger

Is Kroger getting weaker?

Its latest SEC filing (Sep 18, 2026) got stronger: share count down 3.6%. Its overall score is unchanged at 26/100 since Oct 28, 2026.

How is Kroger valued vs its peers?

Priced about in line with its peers. Valuation scores 48/100 against 823 consumer defensive peers. Earnings yield 2.7% vs a peer median of 4.5% (weaker than 67% of peers).Earnings yield 2.7% vs peers 4.5% (weaker than 67% of peers).

Is Kroger growing?

More slowly than most of its peers. Growth scores 19/100 against 823 consumer defensive peers. Earnings per share growth -55.4% vs a peer median of 1.5% (weaker than 91% of peers).Earnings per share growth -55.4% vs peers 1.5% (weaker than 91% of peers).

How profitable is Kroger?

Less profitable than most of its peers. Profitability scores 30/100 against 823 consumer defensive peers. Operating margin 1.4% vs a peer median of 7.6% (weaker than 84% of peers).Operating margin 1.4% vs peers 7.6% (weaker than 84% of peers).

How risky is Kroger?

Higher risk relative to 823 consumer defensive peers, judged on debt, liquidity and share-price swings. Debt / equity 2.63× vs a peer median of 0.42× (weaker than 100% of peers).Debt / equity 2.63× vs peers 0.42× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

148.6B USD

149.3B USD

+0.5%

Net income (12 months)

1.1B USD

1.1B USD

+2.9%

Operating margin

1.3%

1.4%

+0.1 pts

Free cash flow (12 months)

2.8B USD

2.4B USD

−15.8%

Debt

15.4B USD

15.4B USD

−0.1%

Cash

2.9B USD

1.7B USD

−41.7%

Shares outstanding

612.6M

590.6M

−3.6%

Key ratios

FY Jan 2022

FY Jan 2023

FY Jan 2024

FY Jan 2025

FY Jan 2026

Change

Operating margin

2.5%

2.8%

2.1%

2.6%

1.3%

▼ 1.3 pts

Net margin

1.2%

1.5%

1.4%

1.8%

0.7%

▼ 1.1 pts

Return on assets (ROA)

3.4%

4.5%

4.3%

5.1%

2.0%

▼ 3.0 pts

Return on equity (ROE)

17.5%

22.3%

18.6%

32.2%

17.1%

▼ 15 pts

Free cash flow margin

2.6%

1.0%

1.9%

1.2%

2.3%

▲ 1.1 pts

Current ratio

0.75×

0.74×

0.81×

0.96×

0.80×

▼ 16%

Debt to equity

1.24×

1.12×

0.88×

1.92×

2.68×

▲ 39%

Interest coverage

6.09×

7.71×

7.02×

—