Cash flow Kroger Co. (The)

Equities

KR

US5010441013

Food Retail & Distribution

Market Closed - Nyse Other stock markets 21:00:02 13/09/2024 BST			5-day change	1st Jan Change
55.91 ^USD	+1.29%		+6.96%	+22.31%

09-13	Overview of US food retailers
09-13	Roth MKM Adjusts Kroger Company Price Target to $52 From $50	MT

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Published financial data: KROGER CO. (THE)

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: February	2020	2021	2022	2023	2024
Revenues	122B	132B	138B	148B	150B
Total Revenues	122B	132B	138B	148B	150B
Cost of Goods Sold, Total	94.44B	101B	107B	115B	116B
Gross Profit	27.85B	31.79B	31.33B	32.81B	34.45B
Selling General & Admin Expenses, Total	22.58B	25.86B	24.8B	25.3B	26.34B
Depreciation & Amortization - (IS)	2.65B	2.75B	2.82B	2.96B	3.12B
Other Operating Expenses, Total	25.23B	28.61B	27.62B	28.26B	29.47B
Operating Income	2.62B	3.18B	3.71B	4.55B	4.99B
Interest Expense, Total	-603M	-544M	-571M	-535M	-441M
Net Interest Expenses	-603M	-544M	-571M	-535M	-441M
EBT, Excl. Unusual Items	2.02B	2.64B	3.14B	4.01B	4.54B
Restructuring Charges	-	-111M	-136M	-	-
Merger & Related Restructuring Charges	-	-	-	-44M	-316M
Impairment of Goodwill	-19M	-	-	-160M	-
Gain (Loss) On Sale Of Investments	157M	1.1B	-821M	-728M	151M
Gain (Loss) On Sale Of Assets	176M	-	-	-	-
Asset Writedown	-339M	-70M	-64M	-72M	-69M
Legal Settlements	-	-	-	-85M	-1.48B
Other Unusual Items	-11M	-189M	-66M	-20M	-
EBT, Incl. Unusual Items	1.98B	3.37B	2.05B	2.9B	2.84B
Income Tax Expense	469M	782M	385M	653M	667M
Earnings From Continuing Operations	1.51B	2.59B	1.67B	2.25B	2.17B
Net Income to Company	1.51B	2.59B	1.67B	2.25B	2.17B
Minority Interest	147M	-3M	-11M	-5M	-5M
Net Income - (IS)	1.66B	2.58B	1.66B	2.24B	2.16B
Preferred Dividend and Other Adjustments	19M	29M	16M	-20M	18M
Net Income to Common Incl Extra Items	1.64B	2.56B	1.64B	2.26B	2.15B
Net Income to Common Excl. Extra Items	1.64B	2.56B	1.64B	2.26B	2.15B
Per Share Items
Net EPS - Basic	2.05	3.31	2.2	3.15	2.99
Basic EPS - Continuing Operations	2.05	3.31	2.2	3.15	2.99
Basic Weighted Average Shares Outstanding	799M	773M	744M	718M	718M
Net EPS - Diluted	2.04	3.27	2.17	3.06	2.96
Diluted EPS - Continuing Operations	2.04	3.27	2.17	3.06	2.96
Diluted Weighted Average Shares Outstanding	805M	781M	754M	727M	725M
Normalized Basic EPS	1.76	2.13	2.62	3.48	3.95
Normalized Diluted EPS	1.75	2.1	2.59	3.44	3.91
Dividend Per Share	0.62	0.7	0.81	0.99	1.13
Payout Ratio	29.29	20.66	35.59	30.39	36.78
Supplemental Items
EBITDA	5.35B	5.99B	6.59B	7.56B	8.15B
EBITA	2.7B	3.25B	3.77B	4.6B	5.03B
EBIT	2.62B	3.18B	3.71B	4.55B	4.99B
EBITDAR	6.24B	6.87B	7.44B	8.4B	9.04B
Effective Tax Rate - (Ratio)	23.67	23.2	18.77	22.5	23.52
Current Domestic Taxes	524M	710M	416M	492M	821M
Total Current Taxes	524M	710M	416M	492M	821M
Deferred Domestic Taxes	-55M	72M	-31M	161M	-154M
Total Deferred Taxes	-55M	72M	-31M	161M	-154M
Normalized Net Income	1.41B	1.64B	1.95B	2.5B	2.84B
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	48M	45M	52M	66M	78M
Non-Cash Pension Expense	15M	-13M	59M	-20M	-13M
Supplemental Operating Expense Items
Advertising Expense	854M	888M	984M	1.03B	1.09B
Selling and Marketing Expenses	854M	888M	984M	1.03B	1.09B
Net Rental Expense, Total	884M	874M	845M	839M	891M
Imputed Operating Lease Interest Expense	234M	182M	188M	175M	157M
Imputed Operating Lease Depreciation	650M	692M	657M	664M	734M
Stock-Based Comp., Other (Total)	155M	185M	203M	190M	172M
Total Stock-Based Compensation	155M	185M	203M	190M	172M

Fiscal Period: February	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	399M	1.69B	1.82B	1.02B	1.88B
Total Cash And Short Term Investments	399M	1.69B	1.82B	1.02B	1.88B
Accounts Receivable, Total	1.71B	1.78B	1.83B	2.23B	2.14B
Total Receivables	1.71B	1.78B	1.83B	2.23B	2.14B
Inventory	7.08B	7.06B	6.78B	7.56B	7.1B
Prepaid Expenses	522M	605M	660M	734M	609M
Other Current Assets, Total	1.18B	1.37B	1.08B	1.13B	1.22B
Total Current Assets	10.89B	12.5B	12.17B	12.67B	12.95B
Gross Property Plant And Equipment	52.66B	52.82B	56.58B	60.03B	63.38B
Accumulated Depreciation	-23.98B	-23.64B	-26.1B	-28.64B	-31.46B
Net Property Plant And Equipment	28.68B	29.18B	30.48B	31.39B	31.92B
Long-term Investments	-	2.25B	1.58B	995M	1.12B
Goodwill	3.08B	3.08B	3.08B	2.92B	2.92B
Other Intangibles, Total	1.07B	997M	942M	899M	899M
Loans Receivable Long-Term	-	240M	191M	169M	78M
Deferred Tax Assets Long-Term	-	-	-	-	18M
Deferred Charges Long-Term	-	79M	151M	193M	257M
Other Long-Term Assets, Total	1.54B	337M	490M	393M	347M
Total Assets	45.26B	48.66B	49.09B	49.62B	50.5B
Liabilities
Accounts Payable, Total	6.35B	6.68B	7.12B	7.12B	10.38B
Accrued Expenses, Total	1.42B	1.67B	2.01B	2.02B	1.64B
Short-term Borrowings	-	-	-	65M	-
Current Portion of Long-Term Debt	1.93B	844M	451M	1.15B	25M
Current Portion of Leases	636M	734M	754M	819M	843M
Current Income Taxes Payable	-	9M	-	-	-
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	3.92B	5.43B	6B	6.06B	3.17B
Total Current Liabilities	14.24B	15.37B	16.32B	17.24B	16.06B
Long-Term Debt	11.35B	11.57B	11.29B	10.14B	10.28B
Long-Term Leases	7.29B	7.44B	7.94B	8.3B	8.22B
Pension & Other Post Retirement Benefits	608M	535M	478M	436M	385M
Deferred Tax Liability Non Current	1.47B	1.54B	1.56B	1.67B	1.58B
Other Non Current Liabilities	1.73B	2.66B	2.06B	1.82B	2.38B
Total Liabilities	36.68B	39.11B	39.66B	39.61B	38.9B
Common Stock, Total	1.92B	1.92B	1.92B	1.92B	1.92B
Additional Paid In Capital	3.34B	3.46B	3.66B	3.8B	3.92B
Retained Earnings	20.98B	23.02B	24.07B	25.6B	26.95B
Treasury Stock	-16.99B	-18.19B	-19.72B	-20.65B	-20.68B
Comprehensive Income and Other	-640M	-630M	-467M	-632M	-489M
Total Common Equity	8.6B	9.58B	9.45B	10.04B	11.62B
Minority Interest	-29M	-26M	-23M	-28M	-14M
Total Equity	8.57B	9.55B	9.43B	10.01B	11.6B
Total Liabilities And Equity	45.26B	48.66B	49.09B	49.62B	50.5B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	778M	752M	723M	717M	722M
ECS Total Common Shares Outstanding	788M	758M	727M	716M	720M
Book Value / Share	10.92	12.63	13	14.03	16.13
Tangible Book Value	4.46B	5.5B	5.43B	6.23B	7.8B
Tangible Book Value Per Share	5.66	7.26	7.47	8.7	10.83
Total Debt	21.2B	20.59B	20.44B	20.48B	19.37B
Net Debt	20.8B	18.9B	18.62B	19.46B	17.48B
Debt Equivalent of Unfunded Proj. Benefit Obligation	424M	397M	206M	238M	225M
Debt Equivalent Oper. Leases	7.07B	6.99B	6.76B	6.71B	7.13B
Minority Interest, Total (Incl. Fin. Div)	-29M	-26M	-23M	-28M	-14M
Equity Method Investments, Total	-	-	282M	274M	290M
Account Code - Inventory Valuation	4	4	4	4	4
LIFO Reserve, Total	-1.38B	-1.37B	-1.57B	-2.2B	-2.31B
Inventories - Others	8.46B	8.44B	8.35B	9.76B	9.41B
Land - (BS)	3.3B	3.37B	3.4B	3.44B	3.51B
Buildings, Total	12.55B	13.15B	14B	14.54B	15.14B
Machinery, Total	15.03B	14.93B	15.95B	17.33B	19.38B
Full Time Employees	435K	465K	420K	430K	414K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-

Fiscal Period: February	2020	2021	2022	2023	2024
Net Income	1.66B	2.58B	1.66B	2.24B	2.16B
Depreciation & Amortization - CF	3.29B	3.37B	3.43B	3.58B	3.75B
Amortization of Goodwill and Intangible Assets - (CF)	85M	67M	59M	52M	42M
Depreciation & Amortization, Total	3.37B	3.44B	3.49B	3.63B	3.79B
(Gain) Loss From Sale Of Asset	78M	-59M	-44M	-40M	-56M
(Gain) Loss on Sale of Investments - (CF)	-157M	-1.1B	821M	728M	-151M
Asset Writedown & Restructuring Costs	120M	70M	64M	232M	69M
Stock-Based Compensation (CF)	155M	185M	203M	190M	172M
Other Operating Activities, Total	-253M	158M	232M	706M	-10M
Change In Accounts Receivable	-36M	-90M	-61M	-222M	14M
Change In Inventories	-351M	7M	80M	-1.37B	342M
Change In Accounts Payable	342M	330M	438M	3M	545M
Change In Income Taxes	-142M	24M	16M	-190M	68M
Change in Other Net Operating Assets	-125M	1.27B	-702M	-1.41B	-161M
Cash from Operations	4.66B	6.82B	6.19B	4.5B	6.79B
Capital Expenditure	-3.13B	-2.86B	-2.61B	-3.08B	-3.9B
Sale of Property, Plant, and Equipment	273M	165M	153M	78M	101M
Cash Acquisitions	-	-	-	-	-
Divestitures	327M	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	-83M	-114M	-150M	-15M	53M
Cash from Investing	-2.61B	-2.81B	-2.61B	-3.02B	-3.75B
Short Term Debt Issued, Total	350M	-	-	-	-
Long-Term Debt Issued, Total	813M	1.05B	56M	-	15M
Total Debt Issued	1.16B	1.05B	56M	-	15M
Short Term Debt Repaid, Total	-	-1.15B	-	-	-
Long-Term Debt Repaid, Total	-2.3B	-747M	-1.44B	-552M	-1.3B
Total Debt Repaid	-2.3B	-1.9B	-1.44B	-552M	-1.3B
Issuance of Common Stock	55M	127M	172M	134M	50M
Repurchase of Common Stock	-465M	-1.32B	-1.65B	-993M	-62M
Common Dividends Paid	-486M	-534M	-589M	-682M	-796M
Common & Preferred Stock Dividends Paid	-486M	-534M	-589M	-682M	-796M
Other Financing Activities, Total	-46M	-134M	5M	-196M	-76M
Cash from Financing	-2.08B	-2.71B	-3.44B	-2.29B	-2.17B
Net Change in Cash	-30M	1.29B	134M	-806M	868M
Supplemental Items
Cash Interest Paid	523M	564M	607M	545M	488M
Cash Income Tax Paid (Refund)	706M	659M	513M	698M	751M
Levered Free Cash Flow	2.11B	4.19B	4.83B	2.09B	3.41B
Unlevered Free Cash Flow	2.49B	4.53B	5.19B	2.42B	3.69B
Change In Net Working Capital	-447M	-1.78B	-1.79B	1.16B	-514M
Net Debt Issued / Repaid	-1.14B	-848M	-1.39B	-552M	-1.29B

Fiscal Period: February	2020	2021	2022	2023	2024
Profitability
Return on Assets	3.93	4.23	4.74	5.76	6.22
Return on Total Capital	6.2	6.63	7.73	9.41	10.13
Return On Equity %	18.43	28.56	17.56	23.13	20.07
Return on Common Equity	19.89	28.12	17.23	23.23	19.82
Margin Analysis
Gross Profit Margin %	22.77	23.99	22.72	22.13	22.96
SG&A Margin	18.46	19.52	17.99	17.06	17.56
EBITDA Margin %	4.38	4.52	4.78	5.1	5.43
EBITA Margin %	2.21	2.45	2.73	3.1	3.35
EBIT Margin %	2.14	2.4	2.69	3.07	3.32
Income From Continuing Operations Margin %	1.24	1.95	1.21	1.52	1.45
Net Income Margin %	1.36	1.95	1.2	1.51	1.44
Net Avail. For Common Margin %	1.34	1.93	1.19	1.53	1.43
Normalized Net Income Margin	1.15	1.24	1.41	1.69	1.89
Levered Free Cash Flow Margin	1.72	3.16	3.5	1.41	2.28
Unlevered Free Cash Flow Margin	2.03	3.42	3.76	1.64	2.46
Asset Turnover
Asset Turnover	2.93	2.82	2.82	3	3
Fixed Assets Turnover	4.86	4.58	4.62	4.79	4.74
Receivables Turnover (Average Receivables)	74.23	76	76.41	73	68.67
Inventory Turnover (Average Inventory)