The Kraft Heinz Company (KHC) quarterly cash flow statement — complete operating, investing & financing history
The Kraft Heinz Company (KHC) cash flow statement — 15-year operating, investing & financing cash flows
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 |
|---|
| Cash from Operations | 1.08B | 1.01B | 1.38B | 1.16B | 1.21B | 720M | 1.39B | 1.08B | 942M | 771M | 1.36B | 1.04B | 1.1B | 486M | 952M | 729M | 302M | 486M | 2.92B | 419M |
| Operating CF Margin % | 17.28% | 16.64% | 21.66% | 18.55% | 19.03% | 12% | 21.11% | 16.97% | 14.55% | 12.03% | 19.77% | 15.77% | 16.34% | 7.49% | 12.9% | 11.21% | 4.61% | 8.04% | 43.46% | 6.63% |
| Operating CF Growth % | -10.5% | 39.72% | -0.86% | 6.83% | 28.34% | -6.61% | 2.36% | 4.54% | -14.21% | 58.64% | 42.44% | 42.11% | 263.58% | 0% | -67.35% | 73.99% | -75.23% | -40% | 81.91% | -62.25% |
| Net Income | -5.46B | 798M | 648M | 614M | -7.82B | 714M | 2.13B | -290M | 102M | 804M | 757M | 254M | 998M | 837M | 887M | 432M | 265M | 781M | -255M | 736M |
| Depreciation & Amortization | 261M | 245M | 251M | 245M | 241M | 231M | 234M | 245M | 239M | 230M | 251M | 274M | 216M | 220M | 248M | 229M | 236M | 220M | 233M | 228M |
| Stock-Based Compensation | 31M | 22M | 25M | 17M | 26M | 27M | 26M | 18M | 34M | 31M | 31M | 33M | 46M | 31M | 41M | 28M | 45M | 34M | 42M | 51M |
| Deferred Taxes | -1.2B | 29M | -7M | 107M | -646M | 51M | -2.58B | -229M | -49M | 1M | 32M | 19M | -31M | -3M | -94M | -77M | -130M | 23M | -922M | -6M |
| Other Non-Cash Items | 7.18B | -221M | 178M | 108M | 9.24B | -17M | 1.53B | 1.46B | 792M | 47M | 239M | 629M | -62M | -23M | -75M | 362M | 597M | -100M | 3.14B | 58M |
| Working Capital Changes | 269M | 133M | 281M | 66M | 169M | -286M | 46M | -117M | -176M | -342M | 46M | -173M | -69M | -578M | -55M | -245M | -711M | -472M | 680M | -648M |
| Change in Receivables | 12M | -73M | -2M | 70M | -34M | -89M | -56M | 30M | 32M | -145M | 34M | 98M | 37M | -151M | -20M | 14M | -99M | -123M | -5M | 30M |
| Change in Inventory | -33M | -195M | 338M | -41M | 53M | -217M | 386M | -291M | -45M | -56M | 171M | -45M | 174M | -406M | -94M | -259M | -386M | -382M | 120M | -37M |
| Change in Payables | 136M | 256M | -409M | 203M | 120M | -11M | -356M | 88M | 9M | -49M | -74M | -65M | -124M | 0 | -147M | 97M | 196M | 6M | 214M | -26M |
| Cash from Investing | 366M | 185M | -223M | -262M | -470M | -878M | -174M | -217M | -345M | -287M | -178M | -263M | -211M | -264M | -53M | -117M | -452M | -469M | 1.29B | -283M |
| Capital Expenditures | -189M | -240M | -205M | -171M | -187M | -238M | -247M | -234M | -389M | -294M | -234M | -271M | -242M | -266M | -284M | -197M | -221M | -214M | -250M | -224M |
| CapEx % of Revenue | 3.02% | 3.97% | 3.23% | 2.74% | 2.94% | 3.97% | 3.76% | 3.67% | 6.01% | 4.59% | 3.41% | 4.12% | 3.6% | 4.1% | 3.85% | 3.03% | 3.37% | 3.54% | 3.73% | 3.54% |
| Acquisitions | 0 | 146M | 0 | 0 | 0 | 0 | 3M | 2M | 6M | -3M | 0 | 0 | 0 | 0 | 108M | 0 | -240M | -261M | 1.54B | -34M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 32M | -3M | 16M | -75M | 32M | 33M | 70M | 15M | 38M | 10M | 56M | 8M | 31M | 2M | 123M | 80M | 9M | 6M | 5M | -25M |
| Cash from Financing | -2.37B | -512M | -488M | -340M | -1.32B | 900M | -962M | -481M | -1.33B | -239M | -862M | -629M | -748M | -439M | -903M | -1.09B | -1.24B | -485M | -3.01B | -1.78B |
| Debt Issued (Net) | -1.83B | 0 | -1M | -1M | -676M | 1.62B | -11M | 0 | -605M | 592M | -25M | -1M | -164M | -1M | -281M | -498M | -667M | -9M | -2.4B | -1.2B |
| Equity Issued (Net) | -4M | -23M | -1M | 435M | -210M | -225M | -450M | -1M | -208M | -329M | -455M | 0 | -16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -475M | -474M | -474M | -473M | -474M | -477M | -479M | -483M | -483M | -486M | -491M | -492M | -491M | -491M | -490M | -490M | -490M | -490M | -490M | -490M |
| Share Repurchases | -4M | -23M | -1M | 435M | -210M | -225M | -450M | -1M | -208M | -329M | -455M | 0 | -16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -62M | -15M | -12M | -301M | 37M | -18M | -22M | 3M | -30M | -16M | 109M | -136M | -77M | 53M | -132M | -101M | -80M | 14M | -117M | -89M |
| Net Change in Cash | -927M | 694M | 693M | 548M | -547M | 777M | 198M | 386M | -726M | 224M | 350M | 105M | 121M | -213M | 43M | -522M | -1.46B | -466M | 1.17B | -1.67B |
| Free Cash Flow | 893M | 766M | 1.17B | 986M | 1.02B | 482M | 1.14B | 849M | 553M | 477M | 1.12B | 765M | 856M | 220M | 668M | 532M | 81M | 272M | 2.67B | 195M |
| FCF Margin % | 14.26% | 12.67% | 18.43% | 15.81% | 16.09% | 8.03% | 17.35% | 13.3% | 8.54% | 7.44% | 16.36% | 11.64% | 12.74% | 3.39% | 9.05% | 8.18% | 1.24% | 4.5% | 39.74% | 3.08% |
| FCF Growth % | -12.62% | 58.92% | 2.63% | 16.14% | 84.81% | 1.05% | 1.69% | 10.98% | -35.4% | 116.82% | 67.96% | 43.8% | 956.79% | -19.12% | -74.94% | 172.82% | -92.02% | -53.34% | 89.89% | -79.92% |
| FCF per Share | 0.75 | 0.64 | 0.99 | 0.83 | 0.86 | 0.40 | 0.95 | 0.70 | 0.45 | 0.39 | 0.91 | 0.62 | 0.69 | 0.18 | 0.54 | 0.43 | 0.07 | 0.22 | 2.18 | 0.16 |
| FCF Conversion (FCF/Net Income) | -0.20x | 1.26x | 2.11x | 1.88x | -0.15x | 1.01x | 0.65x | -3.73x | 9.24x | 0.96x | 1.79x | 3.95x | 1.10x | 0.58x | 1.07x | 1.69x | 1.14x | 0.63x | -11.35x | 0.57x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |