Kraft Heinz Co
$25.11
+0.63 (+2.57%) · delayed · Nov 13, 2026
Five-year price
52w $21.04 to $28.09
- Market cap
- $29.7B
- Enterprise value
- $46.4B
- P/E
- —
- EV / EBIT
- —
- FCF yield
- 12.3%
- ROIC
- −6.3%
- Debt / equity
- 0.46
- Piotroski F
- 5/9
Value scorecard · FY2025
Does it pass the value tests?
Quality
33
- ○ROIC > 12% (5y avg)5y avg ROIC 1.8%
- ○ROE > 15% (5y avg)5y avg ROE 0.8%
- ○Stable operating marginsMargin volatility 13.0% (σ, 5y)
- ●Earnings convert to cashFCF / net income 181% (5y avg)
- ○Growing revenueRevenue CAGR 5y -1.0%
- ●Shrinking share countDiluted shares -3.3% over 5y
Value
n/a
- –P/E below 15P/E n/a
- –EV/EBIT below 12EV/EBIT n/a
- ●FCF yield above 6%FCF yield 12.3%
- –Price below Graham NumberGraham Number n/a
- ●P/B below 3P/B 0.7
Safety
20
- ●Debt / equity below 0.5D/E 0.46
- ○Debt payable in < 4 yrs of earningsNet debt $16.7B
- ○Interest coverage > 8xCoverage -4.9x
- ○Current ratio > 1.5Current ratio 1.15
- ○Piotroski F-score ≥ 6F-score 5/9
Graham Defensive
40
- ●Adequate size (revenue > $2B)Revenue $24.9B
- ○Strong condition (current ratio ≥ 2)Current ratio 1.15
- ○Earnings stability (no loss, 10y)10 years of data
- ●Uninterrupted dividendsDividends paid every year on record
- ○Earnings growth ≥ 33% (10y, 3y avgs)EPS growth -111%
- –Moderate P/E (≤ 15 on 3y avg EPS)P/E (3y avg) n/a
- –P/E × P/B ≤ 22.5Product n/a
Valuation lab
What do you have to believe?
At $25.11, the market is pricing in about −0.4% annual free-cash-flow growth for the next decade (9% discount rate, 2.5% terminal growth).
Starting cash flow
Net debt $16.7B · 1184M shares · 5y revenue CAGR −1.0%
Intrinsic value
$23.45
Price
$25.11
Premium paid
7%
What the price implies
The market is paying for −0.4% annual cash-flow growth for 10 years at a 9.0% discount rate.
Terminal value share
50% of the value sits beyond year 10.
Financial statements
A decade of the record.
USD millions · fiscal years · source: SEC 10-K XBRL
| Line item | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 26,300 | 26,076 | 26,268 | 24,977 | 26,185 | 26,042 | 26,485 | 26,640 | 25,846 | 24,942 |
| Gross profit | 9,146 | 9,033 | 8,921 | 8,147 | 9,177 | 8,682 | 8,122 | 8,926 | 8,968 | 8,309 |
| Operating income | 5,601 | 6,057 | (10,205) | 3,070 | 2,128 | 3,460 | 3,634 | 4,572 | 1,683 | (4,669) |
| Operating margin | 21.3% | 23.2% | -38.8% | 12.3% | 8.1% | 13.3% | 13.7% | 17.2% | 6.5% | -18.7% |
| Pre-tax income | 4,939 | 5,450 | (11,321) | 2,661 | 1,030 | 1,708 | 2,966 | 3,633 | 856 | (5,445) |
| Income tax | 1,333 | (5,482) | (1,067) | 728 | 669 | 684 | 598 | 787 | (1,890) | 403 |
| Net income | 3,596 | 10,941 | (10,192) | 1,935 | 356 | 1,012 | 2,363 | 2,855 | 2,744 | (5,846) |
| EPS (diluted) | 2.78 | 8.91 | -8.36 | 1.58 | 0.29 | 0.82 | 1.91 | 2.31 | 2.26 | -4.93 |
| Diluted shares | 1,226 | 1,228 | 1,219 | 1,224 | 1,228 | 1,236 | 1,235 | 1,235 | 1,215 | 1,187 |
Who owns it