Revenue growth remains highly inconsistent, fluctuating from a 7.4% contraction in 2024Q4 to a 2.2% expansion by 2026Q1, while gross margins remain anchored near 23%.
| Metric | TTM | Jan'26 | Feb'25 | Feb'24 | Jan'23 | Jan'22 | Jan'21 | Feb'20 | Feb'19 | Feb'18 | Jan'17 | Jan'16 | Jan'15 | Feb'14 | Feb'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Feb'08 | Feb'07 | Jan'06 | Jan'05 | Jan'04 | Feb'03 | Feb'02 | Feb'01 | Jan'00 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 148.65B | 147.64B | 147.12B | 150.04B | 148.26B | 137.89B | 132.5B | 122.29B | 121.85B | 123.28B | 115.34B | 109.83B | 108.47B | 98.38B | 96.62B | 90.27B | 82.05B | 76.61B | 76.15B | 70.34B | 66.11B | 60.55B | 56.43B | 53.79B | 51.76B | 50.1B | 49B | 45.35B | 43.08B | 33.93B | 25.17B |
| Revenue Growth % | 1.14% | 0.35% | -1.94% | 1.2% | 7.52% | 4.07% | 8.35% | 0.36% | -1.16% | 6.89% | 5.01% | 1.26% | 10.26% | 1.82% | 7.03% | 10.02% | 7.1% | 0.61% | 8.26% | 6.39% | 9.18% | 7.3% | 4.91% | 3.92% | 3.32% | 2.24% | 8.04% | 5.27% | 26.98% | 34.79% | 5.15% |
| Cost of Goods Sold | 114.18B | 113.24B | 113.72B | 116.67B | 116.48B | 107.54B | 101.6B | 95.29B | 95.1B | 95.81B | 89.5B | 85.5B | 85.51B | 78.14B | 76.73B | 71.39B | 63.8B | 58.85B | 58.54B | 53.71B | 50.12B | 45.56B | 42.14B | 39.64B | 37.81B | 36.4B | 35.81B | 33.32B | 32.06B | 25.47B | 19.27B |
| COGS % of Revenue | - | 76.7% | 77.3% | 77.76% | 78.57% | 77.99% | 76.68% | 77.93% | 78.05% | 77.72% | 77.6% | 77.84% | 78.84% | 79.43% | 79.41% | 79.08% | 77.76% | 76.82% | 76.88% | 76.36% | 75.8% | 75.25% | 74.67% | 73.69% | 73.05% | 72.65% | 73.07% | 73.46% | 74.42% | 75.07% | 76.58% |
| Gross Profit | 34.46B | 34.4B | 33.4B | 33.36B | 31.78B | 30.35B | 30.9B | 26.99B | 26.75B | 27.47B | 25.84B | 24.33B | 22.95B | 20.24B | 19.89B | 18.88B | 18.25B | 17.76B | 17.6B | 16.63B | 16B | 14.99B | 14.29B | 14.15B | 13.95B | 13.7B | 13.19B | 12.04B | 11.02B | 8.46B | 5.9B |
| Gross Margin % | 23.18% | 23.3% | 22.7% | 22.24% | 21.43% | 22.01% | 23.32% | 22.07% | 21.95% | 22.28% | 22.4% | 22.16% | 21.16% | 20.57% | 20.59% | 20.92% | 22.24% | 23.18% | 23.12% | 23.64% | 24.2% | 24.75% | 25.33% | 26.31% | 26.95% | 27.35% | 26.93% | 26.54% | 25.58% | 24.93% | 23.42% |
| Gross Profit Growth % | - | 2.99% | 0.12% | 4.99% | 4.71% | -1.79% | 14.48% | 0.91% | -2.62% | 6.32% | 6.17% | 6.02% | 13.42% | 1.73% | 5.37% | 3.47% | 2.73% | 0.89% | 5.89% | 3.93% | 6.73% | 4.86% | 0.99% | 1.46% | 1.82% | 3.84% | 9.62% | 9.23% | 30.26% | 43.47% | 0.73% |
| Operating Expenses | 32.49B | 32.51B | 29.55B | 30.27B | 27.65B | 26.87B | 28.12B | 24.74B | 24.14B | 24.86B | 22.38B | 20.76B | 19.82B | 17.51B | 17.13B | 17.6B | 16.06B | 16.67B | 15.15B | 14.26B | 13.76B | 12.95B | 13.45B | 12.81B | 11.38B | 11.34B | 10.8B | 9.91B | 9.22B | 7.12B | 5.03B |
| OpEx % of Revenue | - | 22.02% | 20.09% | 20.17% | 18.65% | 19.49% | 21.22% | 20.23% | 19.81% | 20.16% | 19.41% | 18.9% | 18.27% | 17.8% | 17.73% | 19.5% | 19.58% | 21.76% | 19.9% | 20.28% | 20.81% | 21.39% | 23.83% | 23.82% | 21.98% | 22.64% | 22.05% | 21.86% | 21.39% | 20.98% | 19.98% |
| Selling, General & Admin | 8.56B | 872M | 877M | 891M | 839M | 845M | 874M | 884M | 884M | 911M | 881M | 723M | 707M | 613M | 628M | 619M | 623M | 620M | 659M | 643M | 12.49B | 11.69B | 11.29B | 11.01B | 10.27B | 10.13B | 9.8B | 8.97B | 8.38B | 6.53B | 4.67B |
| SG&A % of Revenue | - | 0.59% | 0.6% | 0.59% | 0.57% | 0.61% | 0.66% | 0.72% | 0.73% | 0.74% | 0.76% | 0.66% | 0.65% | 0.62% | 0.65% | 0.69% | 0.76% | 0.81% | 0.87% | 0.91% | 18.89% | 19.3% | 20.01% | 20.47% | 19.85% | 20.23% | 19.99% | 19.77% | 19.45% | 19.23% | 18.56% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 31.64B | 28.68B | 29.38B | 26.81B | 26.03B | 27.25B | 23.86B | 23.25B | 23.95B | 21.5B | 20.04B | 19.11B | 16.9B | 16.5B | 16.98B | 15.44B | 16.05B | 14.49B | 13.62B | 1.27B | 1.26B | 2.16B | 1.8B | 1.1B | 1.21B | 1.01B | 946M | 836M | 592M | 356.8M |
| Operating Income | 1.98B | 1.89B | 3.85B | 3.1B | 4.13B | 3.48B | 2.78B | 2.25B | 2.61B | 2.61B | 3.45B | 3.58B | 3.14B | 2.73B | 2.76B | 1.28B | 2.18B | 1.09B | 2.45B | 2.36B | 2.24B | 2.04B | 843M | 1.34B | 2.57B | 2.36B | 2.39B | 2.12B | 1.8B | 1.34B | 867.3M |
| Operating Margin % | 1.33% | 1.28% | 2.62% | 2.06% | 2.78% | 2.52% | 2.1% | 1.84% | 2.15% | 2.12% | 2.99% | 3.26% | 2.89% | 2.77% | 2.86% | 1.42% | 2.66% | 1.42% | 3.22% | 3.36% | 3.38% | 3.36% | 1.49% | 2.5% | 4.97% | 4.71% | 4.88% | 4.68% | 4.18% | 3.96% | 3.45% |
| Operating Income Growth % | - | -50.9% | 24.32% | -24.96% | 18.67% | 25.07% | 23.5% | -13.89% | 0.08% | -24.33% | -3.47% | 13.99% | 15.12% | -1.41% | 116.28% | -41.43% | 100% | -55.51% | 3.81% | 5.64% | 9.88% | 141.4% | -37.23% | -47.8% | 9.07% | -1.26% | 12.58% | 17.69% | 34.35% | 54.73% | 5.49% |
| EBITDA | 5.65B | 5.81B | 7.7B | 6.85B | 7.71B | 6.91B | 6.15B | 5.54B | 5.08B | 5.05B | 5.79B | 5.67B | 5.08B | 4.43B | 4.42B | 2.92B | 3.78B | 2.62B | 3.9B | 3.72B | 3.51B | 3.3B | 2.1B | 2.55B | 3.66B | 3.44B | 3.4B | 3.07B | 2.64B | 1.93B | 1.22B |
| EBITDA Margin % | 3.8% | 3.94% | 5.23% | 4.56% | 5.2% | 5.01% | 4.64% | 4.53% | 4.17% | 4.09% | 5.02% | 5.16% | 4.69% | 4.5% | 4.57% | 3.23% | 4.61% | 3.41% | 5.12% | 5.28% | 5.31% | 5.45% | 3.72% | 4.74% | 7.07% | 6.86% | 6.93% | 6.76% | 6.13% | 5.7% | 4.86% |
| EBITDA Growth % | -27.54% | -24.53% | 12.45% | -11.15% | 11.57% | 12.24% | 11.06% | 9.08% | 0.61% | -12.85% | 2.24% | 11.41% | 14.84% | 0.27% | 51.44% | -22.9% | 44.57% | -32.84% | 4.79% | 5.96% | 6.3% | 57.22% | -17.75% | -30.27% | 6.55% | 1.12% | 10.72% | 16.26% | 36.45% | 57.99% | 6.75% |
| D&A (Non-Cash Add-back) | 3.67B | 3.92B | 3.85B | 3.75B | 3.58B | 3.43B | 3.37B | 3.29B | 2.46B | 2.44B | 2.34B | 2.09B | 1.95B | 1.7B | 1.65B | 1.64B | 1.6B | 1.52B | 1.44B | 1.35B | 1.27B | 1.26B | 1.26B | 1.21B | 1.09B | 1.08B | 1.01B | 946M | 836M | 592M | 356.8M |
| EBIT | 1.92B | 1.84B | 3.79B | 3.28B | 3.44B | 2.62B | 3.91B | 2.58B | 4.6B | 2.08B | 3.44B | 3.58B | 3.14B | 2.73B | 2.76B | 1.28B | 2.18B | 1.09B | 2.45B | 2.36B | 2.24B | 2.04B | 843M | 1.34B | 2.59B | 2.4B | 2.39B | 2.12B | 1.8B | 1.34B | 867.3M |
| Net Interest Income | -653M | -639M | -459M | -449M | -544M | -581M | -548M | -599M | -616M | -598M | -520M | -481M | -488M | -443M | -451M | -435M | -454M | -502M | -485M | -474M | -488M | -510M | -557M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 100M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 753M | 639M | 459M | 449M | 544M | 581M | 548M | 599M | 616M | 598M | 520M | 481M | 488M | 443M | 451M | 435M | 454M | 502M | 485M | 474M | 488M | 510M | 557M | 604M | 660M | 689M | 884M | 1.04B | 305.9M | 318.4M | 302.9M |
| Other Income/Expense | -700M | -690M | -507M | -260M | -1.22B | -1.43B | 590M | -270M | 1.36B | -1.13B | -538M | -482M | -488M | -443M | -462M | -435M | -448M | -502M | -485M | -474M | -488M | -510M | -557M | -604M | -600M | -648M | -881M | -1.02B | -914M | -388M | -300M |
| Pretax Income | 1.27B | 1.2B | 3.34B | 2.84B | 2.9B | 2.05B | 3.37B | 1.98B | 3.98B | 1.48B | 2.91B | 3.09B | 2.65B | 2.28B | 2.3B | 843M | 1.73B | 589M | 1.97B | 1.89B | 1.75B | 1.52B | 286M | 739M | 1.97B | 1.71B | 1.51B | 1.1B | 889M | 954M | 567.3M |
| Pretax Margin % | 0.86% | 0.81% | 2.27% | 1.89% | 1.96% | 1.49% | 2.54% | 1.62% | 3.26% | 1.2% | 2.53% | 2.82% | 2.44% | 2.32% | 2.38% | 0.93% | 2.11% | 0.77% | 2.58% | 2.68% | 2.64% | 2.52% | 0.51% | 1.37% | 3.81% | 3.42% | 3.08% | 2.43% | 2.06% | 2.81% | 2.25% |
| Income Tax | 215M | 176M | 670M | 667M | 653M | 385M | 782M | 469M | 900M | -405M | 957M | 1.04B | 902M | 751M | 794M | 247M | 601M | 532M | 717M | 664M | 633M | 567M | 390M | 454M | 740M | 668M | 628M | 479M | 385M | 365M | 214.6M |
| Effective Tax Rate % | 16.86% | 14.67% | 20.05% | 23.52% | 22.5% | 18.77% | 23.2% | 23.67% | 22.62% | -27.29% | 32.84% | 33.78% | 34.05% | 32.91% | 34.49% | 29.3% | 34.66% | 90.32% | 36.45% | 35.17% | 36.21% | 37.18% | 136.36% | 61.43% | 37.51% | 39.04% | 41.64% | 43.47% | 43.31% | 38.26% | 37.83% |
| Net Income | 1.05B | 1.02B | 2.67B | 2.16B | 2.24B | 1.66B | 2.58B | 1.66B | 3.11B | 1.91B | 1.98B | 2.04B | 1.73B | 1.52B | 1.5B | 602M | 1.12B | 70M | 1.25B | 1.21B | 1.11B | 958M | -104M | 285M | 1.21B | 1.04B | 877M | 613M | 247M | 465M | 349.8M |
| Net Margin % | 0.71% | 0.69% | 1.81% | 1.44% | 1.51% | 1.2% | 1.95% | 1.36% | 2.55% | 1.55% | 1.71% | 1.86% | 1.59% | 1.54% | 1.55% | 0.67% | 1.36% | 0.09% | 1.64% | 1.72% | 1.69% | 1.58% | -0.18% | 0.53% | 2.33% | 2.08% | 1.79% | 1.35% | 0.57% | 1.37% | 1.39% |
| Net Income Growth % | -59.25% | -61.88% | 23.15% | -3.57% | 35.59% | -35.98% | 55.82% | -46.66% | 63.08% | -3.44% | -3.14% | 18% | 13.76% | 1.47% | 148.67% | -46.06% | 1494.29% | -94.4% | 3.31% | 8.43% | 16.39% | 1021.15% | -136.49% | -76.35% | 15.53% | 18.93% | 43.07% | 148.18% | -46.88% | 32.93% | 15.52% |
| Net Income (Continuing) | 1.06B | 1.02B | 2.67B | 2.17B | 2.25B | 1.67B | 2.59B | 1.51B | 3.08B | 1.89B | 1.96B | 2.05B | 1.75B | 1.53B | 1.51B | 596M | 1.13B | 57M | 1.25B | 1.22B | 1.11B | 958M | -104M | 285M | 1.23B | 1.04B | 880M | 623M | 504M | 589M | 352.7M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 6M | 9M | -4M | -14M | -28M | -23M | -26M | -29M | -51M | -26M | 12M | -22M | 30M | 11M | 7M | -15M | 2M | 74M | 95M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.71 | 1.54 | 3.67 | 2.96 | 3.06 | 2.17 | 3.27 | 2.04 | 3.76 | 2.09 | 2.05 | 2.06 | 1.72 | 1.45 | 1.39 | 0.51 | 0.87 | 0.06 | 0.95 | 0.87 | 0.77 | 0.66 | -0.07 | 0.21 | 0.76 | 0.63 | 0.52 | 0.36 | 0.23 | 0.32 | 0.34 |
| EPS Growth % | -53.41% | -58.04% | 23.99% | -3.27% | 41.01% | -33.64% | 60.29% | -45.74% | 79.9% | 1.95% | -0.49% | 19.77% | 18.62% | 4.32% | 172.55% | -41.38% | 1481.82% | -94.21% | 9.2% | 12.99% | 16.67% | 1042.86% | -133.33% | -72.37% | 20.63% | 21.15% | 44.44% | 56.52% | -28.13% | -5.88% | 13.33% |
| EPS (Basic) | - | 1.56 | 3.70 | 2.99 | 3.10 | 2.20 | 3.31 | 2.05 | 3.80 | 2.11 | 2.08 | 2.09 | 1.75 | 1.47 | 1.39 | 0.51 | 0.88 | 0.06 | 0.96 | 0.88 | 0.78 | 0.66 | -0.07 | 0.21 | 0.77 | 0.63 | 0.54 | 0.37 | 0.24 | 0.46 | 0.35 |
| Diluted Shares Outstanding | 615M | 655M | 720M | 725M | 727M | 754M | 781M | 805M | 818M | 904M | 958M | 980M | 994M | 1.04B | 1.07B | 1.19B | 1.28B | 1.3B | 1.32B | 1.39B | 1.45B | 1.46B | 1.47B | 1.51B | 1.58B | 1.65B | 1.69B | 1.72B | 1.06B | 1.05B | 1.04B |
| Basic Shares Outstanding | 613M | 652M | 715M | 718M | 718M | 744M | 773M | 799M | 810M | 895M | 942M | 966M | 980M | 1.03B | 1.07B | 1.18B | 1.27B | 1.29B | 1.3B | 1.38B | 1.43B | 1.45B | 1.47B | 1.49B | 1.56B | 1.65B | 1.65B | 1.66B | 1.02B | 1.01B | 999.43M |
| Dividend Payout Ratio | - | 87.11% | 33.13% | 36.78% | 30.39% | 35.59% | 20.66% | 29.29% | 14.05% | 23.23% | 21.72% | 18.88% | 19.56% | 21% | 17.84% | 42.69% | 22.4% | 340% | 18.17% | 16.71% | 12.56% | - | - | - | - | - | - | - | - | - | - |
Regulatory and Margin Compression
According to the provided quarterly income statements, Kroger's revenue growth has exhibited significant inconsistency, fluctuating from a 7.4% contraction in 2024Q4 to a 2.2% expansion by 2026Q1, suggesting that the company struggles to maintain a stable organic growth trajectory in a highly competitive retail environment.
The erratic nature of top-line performance appears to be heavily influenced by seasonal cycles and the impact of fuel price volatility on headline figures. Investors should monitor whether the company can achieve consistent identical-store sales growth, as current figures suggest a reliance on external factors rather than sustained volume expansion.
As reported in financial statements, Kroger maintains a gross margin hovering near 23%, a figure that reflects the intense competitive pressure inherent in the grocery sector and the company's inability to significantly improve pricing power despite its proprietary data analytics and vertical integration efforts.
The persistent narrowness of the gross margin suggests that Kroger is effectively a price-taker in its core markets, forced to match discounter pricing to retain foot traffic. This structural limitation implies that any meaningful profitability improvement must originate from alternative revenue streams rather than core retail operations.
Based on the company's reported figures, operating income has failed to scale consistently with gross profit, as evidenced by the 2025Q3 period where a $7.9 billion gross profit resulted in a $1.5 billion operating loss, highlighting the high fixed-cost burden of the firm's extensive physical footprint.
The lack of clear operating leverage suggests that management faces significant challenges in controlling SG&A expenses relative to revenue growth. This inefficiency warrants further investigation into whether the company's investments in automated fulfillment centers are yielding the expected productivity gains or merely adding to the fixed-cost base.
Data from recent filings indicates that net income is subject to extreme swings, including a notable $1.3 billion loss in 2025Q3, which complicates the assessment of normalized earnings quality and suggests that non-operating items or one-time charges may be significantly distorting the company's reported profitability metrics.
The wide variance in quarterly EPS, ranging from a loss of $2.02 to a gain of $1.46, suggests that investors should be cautious when relying on headline net income figures. The presence of stock-based compensation and potential integration-related costs appears to create a noisy earnings profile that obscures the core business health.
While management emphasizes the potential of retail media, the income statement data suggests that Kroger remains vulnerable to margin compression, as evidenced by the thin 1.28% operating margin which leaves almost no buffer for rising labor costs, shrink, or aggressive competitive pricing from larger mass-merchandise peers.
Short-term performance appears highly sensitive to external shocks, and the current financial data does not provide evidence that the company has successfully decoupled its profitability from the low-margin grocery model. The reliance on thin margins makes the company's bottom line exceptionally fragile in the face of persistent inflationary pressures.
Quick answers to the most common questions about buying KR stock.
For fiscal year 2025, The Kroger Co. (KR) reported total revenue of $147.64B. This represents a 486.6% increase compared to $25.17B in 1996.
The Kroger Co. (KR) is profitable, generating $1.02B in net income for the fiscal year ending 2025 with a net profit margin of 0.7%.
The Kroger Co. (KR) reported an operating income of $1.89B, resulting in an operating profit margin of 1.3%. This margin reflects the operational efficiency of the business before interest and taxes.
The Kroger Co. (KR) generated $34.40B in gross profit for the year, representing a gross profit margin of 23.3%. This demonstrates the company's core pricing power and production efficiency.