Krispy Kreme, Inc.

Consumer Staples
Food Chains
www.krispykreme.com

Moat Score
Safety Score

Market Cap $1.72B
PE 61
Debt $899.79M
Cash $25.88M
EV $2.60B
FCF -$99.40M

Earnings

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Sales & Net Margins

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Earnings	$28.15M
EBIT	$38.97M
ROE	2%
ROA	1%
FCF	-$99.40M
Equity	$1.21B
Growth Stability	1
PE	61.17
PB	1.42
P/FCF	-17.32
P/S	1.01
Price/Cash	0.02
Debt/Equity	0.74
Debt/FCF	-9.05
Net Margins	2%
Op. Margins	2%
Sales Growth YoY	-7%
Sales Growth QoQ	-13%
Sales CAGR	11%
FCF CAGR	0%
Equity CAGR	11%
Earnings Growth YoY	-198%
Earnings Growth QoQ	-821%
Sales CAGR 5Y	11%

FCF CAGR 5Y	0%
Equity CAGR 5Y	11%
Earnings CAGR 3Y	9%
Sales CAGR 3Y	9%
FCF CAGR 3Y	0%
Equity CAGR 3Y	-3%
Market Cap	$1.72B
Revenue	$1.71B
Dividend Yield	1%
Payout Ratio	84%
Assets	$3.07B
Total Debt	$899.79M
Cash	$25.88M
Shares Outstanding	169.13M
EV	2.6B
Moat Score	33%
Safety Score	67%
Working Capital	-311.15M
Current Ratio	0.35
Shares Growth 3y	2%
Equity Growth QoQ	-2%
Equity Growth YoY	-3%

Assets & ROA

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Stockholders Equity & ROE

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Krispy Kreme Inc is a sweet treat brands company. The company's Original Glazed doughnut is recognized for its hot-off-the-line, melt-in- your-mouth experience. It operates in 30 countries through its network of fresh Doughnut Shops, partnerships with retailers, and a growing ecommerce and delivery business. The company conducts its business through the following three reported segments namely U.S. and Canada, includes all operations in the U.S. and Canada, Insomnia Cookies shops, and the Branded Sweet Treat Line; International includes operations in the U.K., Ireland, Australia, New Zealand, and Mexico; and Market Development includes franchise operations across the globe, as well as operations in Japan.

SEC Filings

Direct access to Krispy Kreme, Inc. (DNUT) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 29
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Oct 01
- 10-Q Jul 02
- 10-Q Apr 02
- 10-K Jan 01
2022
- 10-Q Oct 02
- 10-Q Jul 03
- 10-Q Apr 03
- 10-K Jan 02

Sector Comparison

How does Krispy Kreme, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Krispy Kreme, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Krispy Kreme, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Krispy Kreme, Inc..

Years

Calculation mode

= -$997M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$99M	-$99M	-$100M	-$100M	-$100M	-$100M	-$100M	-$100M	-$100M	-$100M	-$100M	-$999M
DCF		-$90M	-$82M	-$75M	-$68M	-$62M	-$56M	-$51M	-$47M	-$42M	-$39M	-$385M
Value	-$997M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2019	01/2021	01/2022	12/2022	12/2023	TTM
Net Margins	-4%	-6%	-2%	-1%	-2%	2%
ROA	-	0%	1%	1%	0%	1%
ROE	-	-8%	-2%	-1%	-3%	2%

Bad Net Margins (2.02%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2019	01/2021	01/2022	12/2022	12/2023	TTM
Debt over FCF	-	-12.56	34.68	29.15	-12.46	-9.05
Debt over Equity	-	1.02	0.56	0.63	0.75	0.74
Growth Stability	-	-	-	-	-	1

Good Debt/FCF ratio (-9.05)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.74)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2019	01/2021	01/2022	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	17%	23%	11%	10%	11%
Earnings YoY growth	-	73%	-60%	-38%	137%	-
Equity YoY growth	-	-4%	57%	-3%	-3%	11%
FCF YoY growth	-	-2K%	-131%	29%	-370%	0%