Start here if you're new
what it is
Krispy Kreme sells doughnuts and cookies through shops, retail shelves, delivery, and franchise partners in more than 30 countries.
how it gets paid
Last year Krispy Kreme made $1.5B in revenue. Doughnut Shops was the main engine at $0.56B, or 37% of sales.
why growth slowed
Revenue fell 8.6% last year. The pattern is the story. Krispy Kreme posted losses in all four quarters of 2024: -$0.05.
what just happened
The key takeaway: quarterly EPS fell to -$0.14 in Q4 2024, closing a full year at -$0.32.
At a glance
C+ balance sheet — struggling to keep the lights on
0.1% return on capital — nothing to write home about
-$0.32 fy2024 eps est
$2B fy2024 rev est
0.0% dividend yield
xvary composite: 29/100 — weak
What they do
Krispy Kreme sells doughnuts and cookies through shops, retail shelves, delivery, and franchise partners in more than 30 countries.
You know the brand before you see the box. That matters after 84 years and across 30+ countries. The edge is distribution: Krispy Kreme sells through shops, Delivered Fresh Daily outlets, ecommerce, and branded sweet treats, so your doughnut can meet you almost anywhere.
How they make money
$1.5B
annual revenue · their business grew -8.6% last year
Doughnut Shops
$0.56B
Delivered Fresh Daily
$0.47B
E-commerce & Delivery
$0.21B
Branded Sweet Treats
$0.15B
Insomnia Cookies
$0.11B
The products that matter
retail doughnut shops
Company-Owned Shops
$1.0B · 66% of segment revenue shown
This is the largest piece at $1.0B, and it fell 8.6% last year. You need this business to stop shrinking because it carries the heaviest fixed-cost load.
largest segment
franchise royalty income
Franchise & Licensing
$0.3B · flat growth
This $0.3B stream is steadier than store operations, but flat growth tells you the asset-light piece is not yet carrying the turnaround.
asset-light
wholesale distribution
Delivered Fresh Daily
$0.2B · +5% growth
At $0.2B, it is still the smallest of the three shown here, but it grew 5% while company-owned shops fell. That is why management keeps leaning on the hub-and-spoke story.
turnaround lever
Key numbers
-$0.32
FY24 EPS
EPS → profit per share → so what: the company is still expected to lose 32 cents a share even with revenue projected at $2.0B.
30.8%
operating margin
Operating margin → profit after running the business → so what: Krispy Kreme loses about 31 cents for every dollar of sales before interest and taxes.
$1.3B
long-term debt
Debt → money owed → so what: the balance sheet carries more obligation than a $563M equity value comfortably supports.
70%
debt to capital
Debt to capital → how much of the company is financed by borrowing → so what: creditors have a big seat at the table.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 15 / 100
- long-term debt $1.3B (70% of capital)
C+ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for DNUT right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The key takeaway: quarterly EPS fell to -$0.14 in Q4 2024, closing a full year at -$0.32.
The pattern is the story. Krispy Kreme posted losses in all four quarters of 2024: -$0.05, -$0.03, -$0.10, and -$0.14. Latest reported quarterly revenue was $1.1B, while companywide operating margin sits at -30.8%.
$375M
revenue
-$0.14
q4 eps
30.8%
operating margin
the number that mattered
The number that matters is -30.8%. Margin → profit on each sales dollar → so what: a famous brand is still losing money on the core business.
source: company earnings report, 2026
Get this snapshot in your inbox
This page, delivered free — plus weekly updates when the numbers change. plain english, no spam.
weekly updates
earnings alerts
plain english
no spam
What could go wrong
the #1 risk is a doughnut turnaround that still loses money at scale.
med
negative unit economics
A -33.27% net margin on $1.52B in revenue is not a small miss. It means the core model is still destroying value.
If losses stay this deep, equity gets diluted by time even before any capital raise enters the picture.
med
company-owned shop drag
Company-owned shops are the largest revenue block shown at $1.0B, and they fell 8.6% last year. Fixed-cost retail is unforgiving when traffic slips.
If that segment keeps shrinking, growth from smaller channels will not be enough to repair margins.
med
balance sheet pressure
Long-term debt is $1.3B, or 70% of capital. That is a lot of leverage for a business with no trailing earnings.
Debt limits your room to absorb weak quarters, especially if sales growth stays stuck near 2–4%.
med
turnaround expectations are still ahead of proof
Q4 EPS beat the $0.029 estimate, and adjusted EBITDA rose 21%. Good. Analysts still expect FY2024 EPS of -$0.32. The turnaround has headlines, not closure.
If upcoming quarters do not show repeated progress, the market will treat the Q4 beat as noise instead of a trend.
$1.3B in long-term debt plus a -33.27% net margin is the combination that matters. This company does not have much room for a slow fix.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q1 2026 earnings report
Expected May 7, 2026. You want to see whether the Q4 beat turns into a second clean quarter.
margin
net loss trend
The biggest number on this page is still -33.27%. Any improvement there matters more than a one-quarter EPS beat.
channel mix
Delivered Fresh Daily vs. company-owned shops
DFD grew 5% while company-owned shops fell 8.6%. You want that gap widening in the right direction.
balance sheet
debt pressure
Long-term debt sits at $1.3B, or 70% of capital. If operating progress stalls, leverage becomes the story again.
Analyst rankings
risk profile
high risk
risk rank 5 — significant risk of large drawdowns.
chart momentum
average
momentum rank 3 — the stock is moving with the broader market, no unusual signal.
source: institutional data
Institutional activity
institutional ownership data for DNUT is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$3
current price
n/a
target midpoint · n/a from current
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive