Karat Packaging Inc. (KRT) 10-Year Financial Performance & Capital Metrics

KRT • • Industrial / General

Consumer CyclicalPackagingSpecialty & Consumer PackagingDisposable Foodservice Products

AboutKarat Packaging Inc. manufactures and distributes single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand. The company offers its products to domestic and regional distributors, restaurant chains, retail establishments, and online customers. It also provides new product development, design, printing, and logistics services. Karat Packaging Inc. was founded in 2000 and is based in Chino, California.Show more

Revenue $423M +4.2%
EBITDA $56M -3.1%
Net Income $30M -7.7%
EPS (Diluted) 1.49 -8.6%
Gross Margin 38.88% +3.1%
EBITDA Margin 13.26% -7.0%
Operating Margin 8.93% -13.9%
Net Margin 7.09% -11.4%
ROE 18.45% -10.6%
ROIC 13.05% -16.2%
Debt/Equity 0.57 +31.2%
Interest Coverage 17.79 -13.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 77.0%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 13.4%
✓Good 3Y average ROE of 18.6%
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y13.45%

3Y5.08%

TTM8.93%

Profit (Net Income) CAGR

10Y-

5Y77.03%

3Y12.99%

TTM7.17%

EPS CAGR

10Y-

5Y68.41%

3Y9.98%

TTM7.14%

ROCE

10Y Avg17.19%

5Y Avg17.66%

3Y Avg16.68%

Latest15.73%

Peer Comparison

Disposable Foodservice Products

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRTKarat Packaging Inc.	499.87M	24.87	16.69	4.19%	6.67%	18.74%	8.79%	0.57

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	140.06M	175.43M	224.91M	295.52M	364.24M	422.96M	405.65M	422.63M
Revenue Growth %	-	0.25%	0.28%	0.31%	0.23%	0.16%	-0.04%	0.04%
Cost of Goods Sold+	98.75M	131.98M	163.89M	206.39M	256.42M	290.87M	252.61M	258.3M
COGS % of Revenue	0.71%	0.75%	0.73%	0.7%	0.7%	0.69%	0.62%	0.61%
Gross Profit+	41.3M	43.45M	61.02M	89.13M	107.83M	132.09M	153.04M	164.33M
Gross Margin %	0.29%	0.25%	0.27%	0.3%	0.3%	0.31%	0.38%	0.39%
Gross Profit Growth %	-	0.05%	0.4%	0.46%	0.21%	0.22%	0.16%	0.07%
Operating Expenses+	35.3M	41.32M	55.18M	61.43M	84.68M	102.07M	110.97M	126.57M
OpEx % of Revenue	0.25%	0.24%	0.25%	0.21%	0.23%	0.24%	0.27%	0.3%
Selling, General & Admin	35.3M	41.32M	55.18M	61.43M	84.68M	102.07M	108.44M	123.82M
SG&A % of Revenue	0.25%	0.24%	0.25%	0.21%	0.23%	0.24%	0.27%	0.29%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	277K	0	0	0	0	0	2.52M	2.75M
Operating Income+	6.01M	2.13M	5.84M	27.7M	23.14M	30.02M	42.08M	37.76M
Operating Margin %	0.04%	0.01%	0.03%	0.09%	0.06%	0.07%	0.1%	0.09%
Operating Income Growth %	-	-0.65%	1.74%	3.75%	-0.16%	0.3%	0.4%	-0.1%
EBITDA+	9.13M	6.09M	11.79M	36.27M	33.19M	44.24M	57.83M	56.06M
EBITDA Margin %	0.07%	0.03%	0.05%	0.12%	0.09%	0.1%	0.14%	0.13%
EBITDA Growth %	-	-0.33%	0.94%	2.08%	-0.08%	0.33%	0.31%	-0.03%
D&A (Non-Cash Add-back)	3.12M	3.96M	5.95M	8.57M	10.04M	14.23M	15.75M	18.3M
EBIT	6.01M	2.13M	7.7M	25.85M	30.43M	34.53M	45.03M	42.82M
Net Interest Income+	-1.28M	-1.46M	-4.75M	-5.49M	-1.4M	209K	-240K	176K
Interest Income	0	0	0	0	1.51M	2.23M	1.8M	2.3M
Interest Expense	1.28M	1.46M	4.75M	5.49M	2.91M	2.02M	2.04M	2.12M
Other Income/Expense	-1.36M	-585K	-2.89M	-5.77M	4.38M	2.5M	908K	2.93M
Pretax Income+	4.64M	1.55M	2.94M	21.93M	27.53M	32.51M	42.98M	40.7M
Pretax Margin %	0.03%	0.01%	0.01%	0.07%	0.08%	0.08%	0.11%	0.1%
Income Tax+	96K	1.67M	781K	5.26M	5.09M	6.68M	9.8M	9.87M
Effective Tax Rate %	0.98%	0.01%	0.59%	0.8%	0.75%	0.73%	0.76%	0.74%
Net Income+	4.55M	21K	1.72M	17.52M	20.78M	23.65M	32.47M	29.98M
Net Margin %	0.03%	0%	0.01%	0.06%	0.06%	0.06%	0.08%	0.07%
Net Income Growth %	-	-1%	81.1%	9.16%	0.19%	0.14%	0.37%	-0.08%
Net Income (Continuing)	4.55M	-124K	2.16M	16.67M	22.44M	25.84M	33.18M	30.82M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	7.87M	8.31M	7.46M	9.13M	10.25M	8.57M	6.63M
EPS (Diluted)+	0.21	0.00	0.11	1.13	1.12	1.19	1.63	1.49
EPS Growth %	-	-0.99%	-	9.27%	-0.01%	0.06%	0.37%	-0.09%
EPS (Basic)	0.21	0.00	0.11	1.15	1.13	1.19	1.63	1.50
Diluted Shares Outstanding	14.72M	19.12M	15.19M	15.45M	19.8M	19.93M	19.98M	20.12M
Basic Shares Outstanding	14.72M	19.12M	15.19M	15.18M	19.8M	19.82M	19.9M	20M
Dividend Payout Ratio	0.15%	59.29%	-	0.03%	-	0.29%	0.71%	1.03%

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	42.32M	47.62M	61.03M	79.78M	102.87M	123.8M	154.93M	161M
Cash & Short-Term Investments	791K	965K	802K	448K	6.48M	16.04M	49.42M	59.93M
Cash Only	791K	965K	802K	448K	6.48M	16.04M	23.08M	31.58M
Short-Term Investments	0	0	0	0	0	0	26.34M	28.34M
Accounts Receivable	11.64M	15.1M	21.71M	23.84M	32.78M	29.91M	27.76M	26.74M
Days Sales Outstanding	30.34	31.41	35.24	29.44	32.84	25.81	24.98	23.09
Inventory	28.52M	29.52M	35.43M	48.96M	58.47M	71.21M	71.53M	70.72M
Days Inventory Outstanding	105.4	81.63	78.9	86.59	83.23	89.35	103.35	99.93
Other Current Assets	0	0	0	0	0	6.64M	6.22M	3.61M
Total Non-Current Assets+	21.77M	48.39M	72.33M	101.33M	104.73M	128.38M	121.47M	133.53M
Property, Plant & Equipment	19.81M	38.12M	59.02M	95.53M	93.47M	111.28M	115.97M	128.61M
Fixed Asset Turnover	7.07x	4.60x	3.81x	3.09x	3.90x	3.80x	3.50x	3.29x
Goodwill	0	0	0	3.11M	3.51M	3.51M	3.51M	3.51M
Intangible Assets	0	0	0	0	380K	353K	327K	300K
Long-Term Investments	1.25M	0	0	2.46M	0	0	0	0
Other Non-Current Assets	708K	9.36M	9.83M	161K	7.36M	13.23M	1.67M	1.1M
Total Assets+	64.09M	96.01M	133.35M	181.1M	207.6M	252.18M	276.4M	294.52M
Asset Turnover	2.19x	1.83x	1.69x	1.63x	1.75x	1.68x	1.47x	1.43x
Asset Growth %	-	0.5%	0.39%	0.36%	0.15%	0.21%	0.1%	0.07%
Total Current Liabilities+	45.63M	60.51M	35.93M	43.14M	30.76M	39.25M	44.4M	46.45M
Accounts Payable	17.47M	18.5M	24.14M	25.11M	20.47M	23.5M	23.75M	17.83M
Days Payables Outstanding	64.56	51.17	53.75	44.4	29.14	29.49	34.32	25.2
Short-Term Debt	25.07M	37.6M	6.89M	11.36M	1.18M	957K	1.12M	1.18M
Deferred Revenue (Current)	187K	1000K	676K	551K	1000K	1000K	951K	742K
Other Current Liabilities	2.33M	3.24M	1.42M	1.14M	788K	6.88M	5.38M	12.38M
Current Ratio	0.93x	0.79x	1.70x	1.85x	3.34x	3.15x	3.49x	3.47x
Quick Ratio	0.30x	0.30x	0.71x	0.71x	1.44x	1.34x	1.88x	1.94x
Cash Conversion Cycle	71.19	61.87	60.39	71.63	86.93	85.68	94.01	97.83
Total Non-Current Liabilities+	7.77M	13.61M	73.37M	98.1M	44.81M	60.99M	69.31M	85.88M
Long-Term Debt	7.77M	11.83M	67.37M	86.58M	35.34M	41.56M	48.4M	47.28M
Capital Lease Obligations	0	123K	635K	290K	0	11.62M	16.69M	35.44M
Deferred Tax Liabilities	0	1.66M	2.18M	6.18M	5.63M	5.16M	4.2M	426K
Other Non-Current Liabilities	0	0	3.18M	5.05M	3.84M	2.65M	26K	2.74M
Total Liabilities	53.39M	74.12M	109.3M	141.24M	75.57M	100.24M	113.71M	132.32M
Total Debt+	32.87M	49.59M	75.22M	98.55M	36.52M	58.65M	71M	92.87M
Net Debt	32.08M	48.63M	74.41M	98.11M	30.03M	42.61M	47.93M	61.29M
Debt / Equity	3.07x	2.27x	3.13x	2.47x	0.28x	0.39x	0.44x	0.57x
Debt / EBITDA	3.60x	8.14x	6.38x	2.72x	1.10x	1.33x	1.23x	1.66x
Net Debt / EBITDA	3.51x	7.98x	6.31x	2.71x	0.90x	0.96x	0.83x	1.09x
Interest Coverage	4.70x	1.47x	1.23x	5.04x	7.96x	14.88x	20.60x	17.79x
Total Equity+	10.7M	21.89M	24.05M	39.87M	132.03M	151.93M	162.69M	162.2M
Equity Growth %	-	1.05%	0.1%	0.66%	2.31%	0.15%	0.07%	-0%
Book Value per Share	0.73	1.15	1.58	2.58	6.67	7.62	8.14	8.06
Total Shareholders' Equity	10.7M	14.02M	15.74M	32.4M	122.9M	141.68M	154.12M	155.57M
Common Stock	15K	15K	15K	15K	20K	20K	20K	20K
Retained Earnings	7.93M	21K	1.75M	18.66M	39.43M	56.12M	67.68M	66.34M
Treasury Stock	0	0	0	-248K	-248K	-248K	-248K	-248K
Accumulated OCI	-784K	0	0	0	0	0	0	0
Minority Interest	0	7.87M	8.31M	7.46M	9.13M	10.25M	8.57M	6.63M

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1M	2.72M	-32K	14.55M	8.68M	29.47M	53.38M	47.98M
Operating CF Margin %	0.01%	0.02%	-0%	0.05%	0.02%	0.07%	0.13%	0.11%
Operating CF Growth %	-	1.71%	-1.01%	455.59%	-0.4%	2.4%	0.81%	-0.1%
Net Income	4.55M	-124K	1.72M	16.67M	22.44M	25.84M	32.47M	30.82M
Depreciation & Amortization	3.12M	3.96M	5.96M	8.57M	10.04M	14.23M	15.75M	18.3M
Stock-Based Compensation	0	0	0	0	2.03M	2.05M	770K	2.06M
Deferred Taxes	0	1.66M	0	3.94M	-483K	-478K	-959K	-3.77M
Other Non-Cash Items	305K	191K	3.86M	2.03M	-5M	2.8M	7.1M	4.65M
Working Capital Changes	-6.97M	-2.97M	-11.57M	-16.66M	-20.34M	-14.96M	-1.75M	-4.08M
Change in Receivables	-1.35M	-3.51M	-6.34M	-3.7M	-8.94M	1.85M	2.86M	559K
Change in Inventory	-7.79M	-985K	-5.95M	-13.83M	-10.85M	-16.21M	-3.82M	-942K
Change in Payables	1.72M	3.28M	0	1M	-1.6M	89K	1.06M	-260K
Cash from Investing+	-6.35M	-24.31M	-24.76M	-37.35M	-13.28M	-17.84M	-30.17M	-5.86M
Capital Expenditures	-5.51M	-31.91M	-34.81M	-36.48M	-12.38M	-14.75M	-9.33M	-4.07M
CapEx % of Revenue	0.04%	0.18%	0.15%	0.12%	0.03%	0.03%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	409K	90K	10.05M	24K	0	5.95M	1.34M	134K
Cash from Financing+	5.96M	21.76M	24.63M	22.45M	10.64M	-2.07M	-16.17M	-33.62M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	-700K	-1.25M	0	-606K	0	-6.96M	-23.2M	-31.02M
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	-626K	1.81M	-119K	0	100K	-1.06M	-79K	-2.21M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-4.51M	-29.19M	-34.84M	-21.93M	-3.7M	14.73M	44.05M	43.91M
FCF Margin %	-0.03%	-0.17%	-0.15%	-0.07%	-0.01%	0.03%	0.11%	0.1%
FCF Growth %	-	-5.48%	-0.19%	0.37%	0.83%	4.98%	1.99%	-0%
FCF per Share	-0.31	-1.53	-2.29	-1.42	-0.19	0.74	2.20	2.18
FCF Conversion (FCF/Net Income)	0.22x	129.38x	-0.02x	0.83x	0.42x	1.25x	1.64x	1.60x
Interest Paid	1.27M	1.5M	3.32M	3.89M	2.9M	1.98M	2M	2.03M
Taxes Paid	97K	530K	0	2.5M	4.84M	8.3M	11.77M	10.97M

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	42.52%	0.13%	7.5%	54.81%	24.18%	16.66%	20.64%	18.45%
Return on Invested Capital (ROIC)	10.53%	2.82%	5.18%	17.57%	11.57%	12.63%	15.58%	13.05%
Gross Margin	29.49%	24.77%	27.13%	30.16%	29.6%	31.23%	37.73%	38.88%
Net Margin	3.25%	0.01%	0.77%	5.93%	5.7%	5.59%	8%	7.09%
Debt / Equity	3.07x	2.27x	3.13x	2.47x	0.28x	0.39x	0.44x	0.57x
Interest Coverage	4.70x	1.47x	1.23x	5.04x	7.96x	14.88x	20.60x	17.79x
FCF Conversion	0.22x	129.38x	-0.02x	0.83x	0.42x	1.25x	1.64x	1.60x
Revenue Growth	-	25.26%	28.2%	31.39%	23.26%	16.12%	-4.09%	4.19%

Revenue by Segment

	2021	2022	2023	2024
Distributors	199.9M	242.28M	228.32M	234.93M
Distributors Growth	-	21.20%	-5.77%	2.90%
National Distribution	86.02M	95.79M	89.66M	90.24M
National Distribution Growth	-	11.36%	-6.40%	0.66%
Online	50.27M	53.7M	61.27M	70.13M
Online Growth	-	6.82%	14.09%	14.47%
Retail	28.05M	31.19M	26.41M	27.33M
Retail Growth	-	11.17%	-15.31%	3.45%
Logistics Services	-	6.15M	4.38M	5.48M
Logistics Services Growth	-	-	-28.75%	25.13%

Frequently Asked Questions

Valuation & Price

Karat Packaging Inc. (KRT) has a price-to-earnings (P/E) ratio of 16.7x. This is roughly in line with market averages.

Growth & Financials

Karat Packaging Inc. (KRT) reported $453.8M in revenue for fiscal year 2024. This represents a 224% increase from $140.1M in 2017.

Karat Packaging Inc. (KRT) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, Karat Packaging Inc. (KRT) is profitable, generating $30.3M in net income for fiscal year 2024 (7.1% net margin).

Dividend & Returns

Yes, Karat Packaging Inc. (KRT) pays a dividend with a yield of 6.20%. This makes it attractive for income-focused investors.

Karat Packaging Inc. (KRT) has a return on equity (ROE) of 18.5%. This is reasonable for most industries.

Karat Packaging Inc. (KRT) generated $22.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Karat Packaging Inc. (KRT) 10-Year Financial Performance & Capital Metrics

KRT • • Industrial / General

Consumer CyclicalPackagingSpecialty & Consumer PackagingDisposable Foodservice Products

Revenue $423M +4.2%
EBITDA $56M -3.1%
Net Income $30M -7.7%
EPS (Diluted) 1.49 -8.6%
Gross Margin 38.88% +3.1%
EBITDA Margin 13.26% -7.0%
Operating Margin 8.93% -13.9%
Net Margin 7.09% -11.4%
ROE 18.45% -10.6%
ROIC 13.05% -16.2%
Debt/Equity 0.57 +31.2%
Interest Coverage 17.79 -13.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 77.0%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 13.4%
✓Good 3Y average ROE of 18.6%
✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y13.45%

3Y5.08%

TTM8.93%

Profit (Net Income) CAGR

10Y-

5Y77.03%

3Y12.99%

TTM7.17%

EPS CAGR

10Y-

5Y68.41%

3Y9.98%

TTM7.14%

ROCE

10Y Avg17.19%

5Y Avg17.66%

3Y Avg16.68%

Latest15.73%

Peer Comparison

Disposable Foodservice Products

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
KRTKarat Packaging Inc.	499.87M	24.87	16.69	4.19%	6.67%	18.74%	8.79%	0.57

Profit & Loss

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	140.06M	175.43M	224.91M	295.52M	364.24M	422.96M	405.65M	422.63M
Revenue Growth %	-	0.25%	0.28%	0.31%	0.23%	0.16%	-0.04%	0.04%
Cost of Goods Sold+	98.75M	131.98M	163.89M	206.39M	256.42M	290.87M	252.61M	258.3M
COGS % of Revenue	0.71%	0.75%	0.73%	0.7%	0.7%	0.69%	0.62%	0.61%
Gross Profit+	41.3M	43.45M	61.02M	89.13M	107.83M	132.09M	153.04M	164.33M
Gross Margin %	0.29%	0.25%	0.27%	0.3%	0.3%	0.31%	0.38%	0.39%
Gross Profit Growth %	-	0.05%	0.4%	0.46%	0.21%	0.22%	0.16%	0.07%
Operating Expenses+	35.3M	41.32M	55.18M	61.43M	84.68M	102.07M	110.97M	126.57M
OpEx % of Revenue	0.25%	0.24%	0.25%	0.21%	0.23%	0.24%	0.27%	0.3%
Selling, General & Admin	35.3M	41.32M	55.18M	61.43M	84.68M	102.07M	108.44M	123.82M
SG&A % of Revenue	0.25%	0.24%	0.25%	0.21%	0.23%	0.24%	0.27%	0.29%
Research & Development	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-
Other Operating Expenses	277K	0	0	0	0	0	2.52M	2.75M
Operating Income+	6.01M	2.13M	5.84M	27.7M	23.14M	30.02M	42.08M	37.76M
Operating Margin %	0.04%	0.01%	0.03%	0.09%	0.06%	0.07%	0.1%	0.09%
Operating Income Growth %	-	-0.65%	1.74%	3.75%	-0.16%	0.3%	0.4%	-0.1%
EBITDA+	9.13M	6.09M	11.79M	36.27M	33.19M	44.24M	57.83M	56.06M
EBITDA Margin %	0.07%	0.03%	0.05%	0.12%	0.09%	0.1%	0.14%	0.13%
EBITDA Growth %	-	-0.33%	0.94%	2.08%	-0.08%	0.33%	0.31%	-0.03%
D&A (Non-Cash Add-back)	3.12M	3.96M	5.95M	8.57M	10.04M	14.23M	15.75M	18.3M
EBIT	6.01M	2.13M	7.7M	25.85M	30.43M	34.53M	45.03M	42.82M
Net Interest Income+	-1.28M	-1.46M	-4.75M	-5.49M	-1.4M	209K	-240K	176K
Interest Income	0	0	0	0	1.51M	2.23M	1.8M	2.3M
Interest Expense	1.28M	1.46M	4.75M	5.49M	2.91M	2.02M	2.04M	2.12M
Other Income/Expense	-1.36M	-585K	-2.89M	-5.77M	4.38M	2.5M	908K	2.93M
Pretax Income+	4.64M	1.55M	2.94M	21.93M	27.53M	32.51M	42.98M	40.7M
Pretax Margin %	0.03%	0.01%	0.01%	0.07%	0.08%	0.08%	0.11%	0.1%
Income Tax+	96K	1.67M	781K	5.26M	5.09M	6.68M	9.8M	9.87M
Effective Tax Rate %	0.98%	0.01%	0.59%	0.8%	0.75%	0.73%	0.76%	0.74%
Net Income+	4.55M	21K	1.72M	17.52M	20.78M	23.65M	32.47M	29.98M
Net Margin %	0.03%	0%	0.01%	0.06%	0.06%	0.06%	0.08%	0.07%
Net Income Growth %	-	-1%	81.1%	9.16%	0.19%	0.14%	0.37%	-0.08%
Net Income (Continuing)	4.55M	-124K	2.16M	16.67M	22.44M	25.84M	33.18M	30.82M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	7.87M	8.31M	7.46M	9.13M	10.25M	8.57M	6.63M
EPS (Diluted)+	0.21	0.00	0.11	1.13	1.12	1.19	1.63	1.49
EPS Growth %	-	-0.99%	-	9.27%	-0.01%	0.06%	0.37%	-0.09%
EPS (Basic)	0.21	0.00	0.11	1.15	1.13	1.19	1.63	1.50
Diluted Shares Outstanding	14.72M	19.12M	15.19M	15.45M	19.8M	19.93M	19.98M	20.12M
Basic Shares Outstanding	14.72M	19.12M	15.19M	15.18M	19.8M	19.82M	19.9M	20M
Dividend Payout Ratio	0.15%	59.29%	-	0.03%	-	0.29%	0.71%	1.03%

Balance Sheet

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	42.32M	47.62M	61.03M	79.78M	102.87M	123.8M	154.93M	161M
Cash & Short-Term Investments	791K	965K	802K	448K	6.48M	16.04M	49.42M	59.93M
Cash Only	791K	965K	802K	448K	6.48M	16.04M	23.08M	31.58M
Short-Term Investments	0	0	0	0	0	0	26.34M	28.34M
Accounts Receivable	11.64M	15.1M	21.71M	23.84M	32.78M	29.91M	27.76M	26.74M
Days Sales Outstanding	30.34	31.41	35.24	29.44	32.84	25.81	24.98	23.09
Inventory	28.52M	29.52M	35.43M	48.96M	58.47M	71.21M	71.53M	70.72M
Days Inventory Outstanding	105.4	81.63	78.9	86.59	83.23	89.35	103.35	99.93
Other Current Assets	0	0	0	0	0	6.64M	6.22M	3.61M
Total Non-Current Assets+	21.77M	48.39M	72.33M	101.33M	104.73M	128.38M	121.47M	133.53M
Property, Plant & Equipment	19.81M	38.12M	59.02M	95.53M	93.47M	111.28M	115.97M	128.61M
Fixed Asset Turnover	7.07x	4.60x	3.81x	3.09x	3.90x	3.80x	3.50x	3.29x
Goodwill	0	0	0	3.11M	3.51M	3.51M	3.51M	3.51M
Intangible Assets	0	0	0	0	380K	353K	327K	300K
Long-Term Investments	1.25M	0	0	2.46M	0	0	0	0
Other Non-Current Assets	708K	9.36M	9.83M	161K	7.36M	13.23M	1.67M	1.1M
Total Assets+	64.09M	96.01M	133.35M	181.1M	207.6M	252.18M	276.4M	294.52M
Asset Turnover	2.19x	1.83x	1.69x	1.63x	1.75x	1.68x	1.47x	1.43x
Asset Growth %	-	0.5%	0.39%	0.36%	0.15%	0.21%	0.1%	0.07%
Total Current Liabilities+	45.63M	60.51M	35.93M	43.14M	30.76M	39.25M	44.4M	46.45M
Accounts Payable	17.47M	18.5M	24.14M	25.11M	20.47M	23.5M	23.75M	17.83M
Days Payables Outstanding	64.56	51.17	53.75	44.4	29.14	29.49	34.32	25.2
Short-Term Debt	25.07M	37.6M	6.89M	11.36M	1.18M	957K	1.12M	1.18M
Deferred Revenue (Current)	187K	1000K	676K	551K	1000K	1000K	951K	742K
Other Current Liabilities	2.33M	3.24M	1.42M	1.14M	788K	6.88M	5.38M	12.38M
Current Ratio	0.93x	0.79x	1.70x	1.85x	3.34x	3.15x	3.49x	3.47x
Quick Ratio	0.30x	0.30x	0.71x	0.71x	1.44x	1.34x	1.88x	1.94x
Cash Conversion Cycle	71.19	61.87	60.39	71.63	86.93	85.68	94.01	97.83
Total Non-Current Liabilities+	7.77M	13.61M	73.37M	98.1M	44.81M	60.99M	69.31M	85.88M
Long-Term Debt	7.77M	11.83M	67.37M	86.58M	35.34M	41.56M	48.4M	47.28M
Capital Lease Obligations	0	123K	635K	290K	0	11.62M	16.69M	35.44M
Deferred Tax Liabilities	0	1.66M	2.18M	6.18M	5.63M	5.16M	4.2M	426K
Other Non-Current Liabilities	0	0	3.18M	5.05M	3.84M	2.65M	26K	2.74M
Total Liabilities	53.39M	74.12M	109.3M	141.24M	75.57M	100.24M	113.71M	132.32M
Total Debt+	32.87M	49.59M	75.22M	98.55M	36.52M	58.65M	71M	92.87M
Net Debt	32.08M	48.63M	74.41M	98.11M	30.03M	42.61M	47.93M	61.29M
Debt / Equity	3.07x	2.27x	3.13x	2.47x	0.28x	0.39x	0.44x	0.57x
Debt / EBITDA	3.60x	8.14x	6.38x	2.72x	1.10x	1.33x	1.23x	1.66x
Net Debt / EBITDA	3.51x	7.98x	6.31x	2.71x	0.90x	0.96x	0.83x	1.09x
Interest Coverage	4.70x	1.47x	1.23x	5.04x	7.96x	14.88x	20.60x	17.79x
Total Equity+	10.7M	21.89M	24.05M	39.87M	132.03M	151.93M	162.69M	162.2M
Equity Growth %	-	1.05%	0.1%	0.66%	2.31%	0.15%	0.07%	-0%
Book Value per Share	0.73	1.15	1.58	2.58	6.67	7.62	8.14	8.06
Total Shareholders' Equity	10.7M	14.02M	15.74M	32.4M	122.9M	141.68M	154.12M	155.57M
Common Stock	15K	15K	15K	15K	20K	20K	20K	20K
Retained Earnings	7.93M	21K	1.75M	18.66M	39.43M	56.12M	67.68M	66.34M
Treasury Stock	0	0	0	-248K	-248K	-248K	-248K	-248K
Accumulated OCI	-784K	0	0	0	0	0	0	0
Minority Interest	0	7.87M	8.31M	7.46M	9.13M	10.25M	8.57M	6.63M

Cash Flow

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1M	2.72M	-32K	14.55M	8.68M	29.47M	53.38M	47.98M
Operating CF Margin %	0.01%	0.02%	-0%	0.05%	0.02%	0.07%	0.13%	0.11%
Operating CF Growth %	-	1.71%	-1.01%	455.59%	-0.4%	2.4%	0.81%	-0.1%
Net Income	4.55M	-124K	1.72M	16.67M	22.44M	25.84M	32.47M	30.82M
Depreciation & Amortization	3.12M	3.96M	5.96M	8.57M	10.04M	14.23M	15.75M	18.3M
Stock-Based Compensation	0	0	0	0	2.03M	2.05M	770K	2.06M
Deferred Taxes	0	1.66M	0	3.94M	-483K	-478K	-959K	-3.77M
Other Non-Cash Items	305K	191K	3.86M	2.03M	-5M	2.8M	7.1M	4.65M
Working Capital Changes	-6.97M	-2.97M	-11.57M	-16.66M	-20.34M	-14.96M	-1.75M	-4.08M
Change in Receivables	-1.35M	-3.51M	-6.34M	-3.7M	-8.94M	1.85M	2.86M	559K
Change in Inventory	-7.79M	-985K	-5.95M	-13.83M	-10.85M	-16.21M	-3.82M	-942K
Change in Payables	1.72M	3.28M	0	1M	-1.6M	89K	1.06M	-260K
Cash from Investing+	-6.35M	-24.31M	-24.76M	-37.35M	-13.28M	-17.84M	-30.17M	-5.86M
Capital Expenditures	-5.51M	-31.91M	-34.81M	-36.48M	-12.38M	-14.75M	-9.33M	-4.07M
CapEx % of Revenue	0.04%	0.18%	0.15%	0.12%	0.03%	0.03%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-
Other Investing	409K	90K	10.05M	24K	0	5.95M	1.34M	134K
Cash from Financing+	5.96M	21.76M	24.63M	22.45M	10.64M	-2.07M	-16.17M	-33.62M
Debt Issued (Net)	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-
Dividends Paid	-700K	-1.25M	0	-606K	0	-6.96M	-23.2M	-31.02M
Share Repurchases	-	-	-	-	-	-	-	-
Other Financing	-626K	1.81M	-119K	0	100K	-1.06M	-79K	-2.21M
Net Change in Cash	-	-	-	-	-	-	-	-
Free Cash Flow+	-4.51M	-29.19M	-34.84M	-21.93M	-3.7M	14.73M	44.05M	43.91M
FCF Margin %	-0.03%	-0.17%	-0.15%	-0.07%	-0.01%	0.03%	0.11%	0.1%
FCF Growth %	-	-5.48%	-0.19%	0.37%	0.83%	4.98%	1.99%	-0%
FCF per Share	-0.31	-1.53	-2.29	-1.42	-0.19	0.74	2.20	2.18
FCF Conversion (FCF/Net Income)	0.22x	129.38x	-0.02x	0.83x	0.42x	1.25x	1.64x	1.60x
Interest Paid	1.27M	1.5M	3.32M	3.89M	2.9M	1.98M	2M	2.03M
Taxes Paid	97K	530K	0	2.5M	4.84M	8.3M	11.77M	10.97M

Key Ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	42.52%	0.13%	7.5%	54.81%	24.18%	16.66%	20.64%	18.45%
Return on Invested Capital (ROIC)	10.53%	2.82%	5.18%	17.57%	11.57%	12.63%	15.58%	13.05%
Gross Margin	29.49%	24.77%	27.13%	30.16%	29.6%	31.23%	37.73%	38.88%
Net Margin	3.25%	0.01%	0.77%	5.93%	5.7%	5.59%	8%	7.09%
Debt / Equity	3.07x	2.27x	3.13x	2.47x	0.28x	0.39x	0.44x	0.57x
Interest Coverage	4.70x	1.47x	1.23x	5.04x	7.96x	14.88x	20.60x	17.79x
FCF Conversion	0.22x	129.38x	-0.02x	0.83x	0.42x	1.25x	1.64x	1.60x
Revenue Growth	-	25.26%	28.2%	31.39%	23.26%	16.12%	-4.09%	4.19%

Revenue by Segment

	2021	2022	2023	2024
Distributors	199.9M	242.28M	228.32M	234.93M
Distributors Growth	-	21.20%	-5.77%	2.90%
National Distribution	86.02M	95.79M	89.66M	90.24M
National Distribution Growth	-	11.36%	-6.40%	0.66%
Online	50.27M	53.7M	61.27M	70.13M
Online Growth	-	6.82%	14.09%	14.47%
Retail	28.05M	31.19M	26.41M	27.33M
Retail Growth	-	11.17%	-15.31%	3.45%
Logistics Services	-	6.15M	4.38M	5.48M
Logistics Services Growth	-	-	-28.75%	25.13%

Frequently Asked Questions

Valuation & Price

Karat Packaging Inc. (KRT) has a price-to-earnings (P/E) ratio of 16.7x. This is roughly in line with market averages.

Growth & Financials

Karat Packaging Inc. (KRT) reported $453.8M in revenue for fiscal year 2024. This represents a 224% increase from $140.1M in 2017.

Karat Packaging Inc. (KRT) grew revenue by 4.2% over the past year. Growth has been modest.

Yes, Karat Packaging Inc. (KRT) is profitable, generating $30.3M in net income for fiscal year 2024 (7.1% net margin).

Dividend & Returns

Yes, Karat Packaging Inc. (KRT) pays a dividend with a yield of 6.20%. This makes it attractive for income-focused investors.

Karat Packaging Inc. (KRT) has a return on equity (ROE) of 18.5%. This is reasonable for most industries.

Karat Packaging Inc. (KRT) generated $22.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.