Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Krispy Kreme, Inc.DNUT · shops | |
|---|---|
| Grade |  Eweakest fifth of 258 graded peers; percentile 95.7, sampling error 2.9 points; lower is stronger |
| Rank | 247 of 258 |
| Profitability | Cpercentile 53.0 |
| Solvency | Epercentile 87.8 |
| Growth and financing | Dpercentile 72.0 |
| Reliability | 0.91 AUCfailure model, filers with $591M to $2.67B assets; 95% interval 0.88 to 0.94; 160 events, 2020 to 2025 |
| Peer failure rate | 1.01% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $591M to $2.67B assetstotal assets $2.6B[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none activenot computable: distress |
| Inputs computable | 7 of 14 |
| Graded from | filings received through Mar 6, 2026217 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $3.002026-10-08; market equity $521.4M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Mar 6, 2026; the document on sec.gov.
Krispy Kreme, Inc. (“KKI” and, together with its subsidiaries, the “Company” or “Krispy Kreme”) is one of the most beloved and well-known sweet treat brands in the world. Over its nearly 89-year history, Krispy Kreme has developed a broad consumer base globally and currently operates in 42 countries through its unique network of shops (“Doughnut Shops”), partnerships with leading retailers, and growing digital business. The Company’s purpose is to touch and enhance lives through the joy that is Krispy Kreme. We are an omni-channel business that focuses on fresh, high-quality doughnuts with 15,194 points of access globally as of the end of fiscal 2025.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 53.0 | |||||||
| Gross profitability | not computable | 42.6% | |||||
| one or more required annual facts are missing | |||||||
| Return on invested capital | (26.0%) | [3-11] | 10.9% | 95.2 | 84 | 2025-12-28 | |
| Accruals ratio | (19.4%) | [1,12-14] | (4.9%) | 10.8 | 287 | 2025-12-28 | |
| Gross margin stability, five years | not computable | 1.2 pts | |||||
| five annual gross margins are required; found 0 | |||||||
| Solvency, sleeve percentile 87.8 | |||||||
| Twelve-month failure probability | not computable | 0.04% | |||||
| latest liabilities, cash plus short-term investments, book equity, and shares are required | |||||||
| Altman Z double-prime | (2.61) | [1,3,7,15-18] | 1.92 | 80.7 | 208 | 2025-12-28 | |
| Net debt to EBITDA | not computable | 1.84x | |||||
| EBITDA must exceed $100,000 | |||||||
| Interest coverage | not computable | 2.26x | |||||
| one or more required annual facts are missing | |||||||
| Current ratio | 0.38x | [15-16] | 1.37x | 94.9 | 295 | 2025-12-28 | |
| Growth and financing, sleeve percentile 72.0 | |||||||
| Revenue growth, three-year compound | (0.2%) | [2,19-21] | 1.5% | 56.7 | 269 | 2025-12-28 | |
| Free cash flow growth, three-year compound | not computable | 5.6% | |||||
| current FCF must be positive and base FCF must exceed $100,000 | |||||||
| Reinvestment rate | not computable | 7.3% | |||||
| NOPAT must exceed $100,000 | |||||||
| Asset growth, three years | (6.3%) | [1,14,22-23] | 3.4% | 79.7 | 272 | 2025-12-28 | |
| Net share issuance, one year | 1.1% | [24-25] | (0.6%) | 79.5 | 211 | 2026-02-20 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.451; sampling error 2.9 percentile points on 258 peers.
Among 258 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 242 | CHS Inc. (CHSCO) CHS Inc. (CHSCO) Eweakest fifth; percentile 93.4 Nasdaq · Wholesale-Farm Product Raw Materials last close $25.57 No active warnings; 10 of 14 inputs | 93.4 | E | |
| 243 | CHS Inc. (CHSCP) CHS Inc. (CHSCP) Eweakest fifth; percentile 93.4 Nasdaq · Wholesale-Farm Product Raw Materials last close $26.10 No active warnings; 10 of 14 inputs | 93.4 | E | |
| 244 | CrossAmerica Partners L.P. (CAPL) CrossAmerica Partners L.P. (CAPL) Eweakest fifth; percentile 94.6 NYSE · Wholesale-Petroleum & Petroleum Products (No Bulk Stations) market equity $823.8M; last close $21.58 No active warnings; 11 of 14 inputs | 94.6 | E | |
| 245 | Amaze Holdings, Inc. (AMZE) Amaze Holdings, Inc. (AMZE) Eweakest fifth; percentile 94.9 NYSE · Retail-Catalog & Mail-Order Houses market equity $1.6M; last close $0.07 Warnings: dilution, late filer; 8 of 14 inputs | 94.9 | E | dilution, late filer |
| 246 | Dolphin Entertainment, Inc. (DLPN) Dolphin Entertainment, Inc. (DLPN) Eweakest fifth; percentile 95.3 Nasdaq · Services-Personal Services market equity $13.0M; last close $1.08 No active warnings; 8 of 14 inputs | 95.3 | E | |
| 247 | Krispy Kreme, Inc. (DNUT) Krispy Kreme, Inc. (DNUT) Eweakest fifth; percentile 95.7 Nasdaq · Retail-Food Stores market equity $522.2M; last close $3.00 No active warnings; 7 of 14 inputs | 95.7 | E | |
| 248 | Andersons, Inc. (ANDE) Andersons, Inc. (ANDE) Eweakest fifth; percentile 96.1 Nasdaq · Wholesale-Farm Product Raw Materials market equity $2.3B; last close $66.50 No active warnings; 7 of 14 inputs | 96.1 | E | |
| 249 | Torrid Holdings Inc. (CURV) Torrid Holdings Inc. (CURV) Eweakest fifth; percentile 96.5 NYSE · Retail-Apparel & Accessory Stores market equity $235.3M; last close $2.38 No active warnings; 10 of 14 inputs | 96.5 | E | |
| 250 | Olenox Industries Inc. (OLOX) Olenox Industries Inc. (OLOX) Eweakest fifth; percentile 96.9 Nasdaq · Wholesale-Lumber & Other Construction Materials market equity $1.5M; last close $0.94 Warnings: late filer; 7 of 14 inputs | 96.9 | E | late filer |
| 251 | Cato Corp. (CATO) Cato Corp. (CATO) Eweakest fifth; percentile 97.3 NYSE · Retail-Women's Clothing Stores last close $2.35 No active warnings; 7 of 14 inputs | 97.3 | E | |
| 252 | Rent the Runway, Inc. (RENT) Rent the Runway, Inc. (RENT) Eweakest fifth; percentile 97.7 Nasdaq · Retail-Retail Stores, NEC market equity $61.8M; last close $1.82 No active warnings; 7 of 14 inputs | 97.7 | E |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | E | 91.1 | 2204 |
| sector peers, equal sleeves (the grade) | E | 95.7 | 258 |
| same exchange, equal sleeves | E | 85.8 | 1219 |
| sector peers, equal inputs | E | 91.1 | 258 |
Each letter is one fifth of the 258 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | (11.6%) | (0.1%) | 37 | hotter than 37 of 100 peers |
| Distance from 52-week high | (36.0%) | (24.1%) | 33 | closer to its high than 33 of 100 peers |
| EBIT to enterprise value | (36.2%) | 5.3% | 9 | pricier than 91 of 100 peers |
| Free cash flow yield | (12.3%) | 4.2% | 10 | pricier than 90 of 100 peers |
| Book value to price | 1.18 | 0.36 | 87 | pricier than 13 of 100 peers |
| Sales to price | 2.92 | 1.75 | 69 | pricier than 31 of 100 peers |
| Composite equity issuance, five years | not computable | (16.7%) | a share count from five years earlier is required | |
| Relative strength against the sector, log excess return | (0.10) | 0.02 | 37 | ahead of 37 of 100 peers |
Inputs: market equity $522.2M; EBIT -$469.3M; free cash flow -$64.0M; book equity $618.1M; sales $1.5B; debt $794.2M; cash $21.8M[26].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: None of 9, period end 2025-12-28 | ||
|---|---|---|
| Return on assets above zero | (16.8%) | ✗ fail[12,14] |
| Operating cash flow above zero | $33.9M | ✓ pass[13] |
| Return on assets improved | (16.9 pts) | ✗ fail[12,14,22,27] |
| Operating cash flow exceeds net income | $549.7M | ✓ pass[12-13] |
| Long-term leverage fell | 5.4 pts | ✗ fail[1,6,9,14,22] |
| Current ratio improved | 2.6 pts | ✓ pass[15-16,28-29] |
| No new shares issued | 1.1% | ✗ fail[24-25] |
| Gross margin improved | n/a | |
| Asset turnover improved | (1.8 pts) | ✗ fail[2,14,19,22] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $21.8M[30] |
| Operating cash flow, four quarters | $97.3M[13,30-34] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 64 |
| 10-Q received Aug 6, 2026 | |
| Median daily dollar volume | $7.0M |
| 63 sessions | |
| Days since newest grade input | 217 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $2.6B | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.5B | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 3 | operating income | us-gaap:OperatingIncomeLoss | -$469.3M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 4 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | -$544.6M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 5 | income tax | us-gaap:IncomeTaxExpenseBenefit | -$20.8M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 6 | total debt | us-gaap:LongTermDebtAndCapitalLeaseObligations | $911.9M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 7 | book equity | us-gaap:StockholdersEquity | $650.1M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 8 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $42.4M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 9 | total debt | us-gaap:LongTermDebtAndCapitalLeaseObligations | $844.5M | 2024-12-29 | 2026-03-06 | 10-K | filing · viewer · series |
| 10 | book equity | us-gaap:StockholdersEquity | $1.1B | 2024-12-29 | 2026-03-06 | 10-K | filing · viewer · series |
| 11 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $29.0M | 2024-12-29 | 2026-03-06 | 10-K | filing · viewer · series |
| 12 | net income | us-gaap:NetIncomeLoss | -$515.8M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 13 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $33.9M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 14 | assets | us-gaap:Assets | $3.1B | 2024-12-29 | 2026-03-06 | 10-K | filing · viewer · series |
| 15 | current assets | us-gaap:AssetsCurrent | $174.5M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 16 | current liabilities | us-gaap:LiabilitiesCurrent | $457.3M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 17 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | -$821.4M | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 18 | liabilities | us-gaap:Liabilities | $1.9B | 2025-12-28 | 2026-03-06 | 10-K | filing · viewer · series |
| 19 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.7B | 2024-12-29 | 2026-03-06 | 10-K | filing · viewer · series |
| 20 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.7B | 2023-12-31 | 2026-03-06 | 10-K | filing · viewer · series |
| 21 | revenue | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax | $1.5B | 2023-01-01 | 2025-02-27 | 10-K | filing · viewer · series |
| 22 | assets | us-gaap:Assets | $3.2B | 2023-12-31 | 2025-02-27 | 10-K | filing · viewer · series |
| 23 | assets | us-gaap:Assets | $3.1B | 2023-01-01 | 2024-02-27 | 10-K | filing · viewer · series |
| 24 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 172,200,000 | 2026-02-20 | 2026-03-06 | 10-K | filing · viewer · series |
| 25 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 170,300,000 | 2025-02-14 | 2025-02-27 | 10-K | filing · viewer · series |
| 26 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 173,500,000 | 2026-07-30 | 2026-08-06 | 10-Q | filing · viewer · series |
| 27 | net income | us-gaap:NetIncomeLoss | $3.1M | 2024-12-29 | 2026-03-06 | 10-K | filing · viewer · series |
| 28 | current assets | us-gaap:AssetsCurrent | $172.9M | 2024-12-29 | 2026-03-06 | 10-K | filing · viewer · series |
| 29 | current liabilities | us-gaap:LiabilitiesCurrent | $486.2M | 2024-12-29 | 2026-03-06 | 10-K | filing · viewer · series |
| 30 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $21.8M | 2026-06-28 | 2026-08-06 | 10-Q | filing · viewer · series |
| 31 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $10.0M | 2026-06-28 | 2026-08-06 | 10-Q | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $20.2M | 2026-03-29 | 2026-05-08 | 10-Q | filing · viewer · series |
| 33 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$11.1M | 2025-09-28 | 2025-11-06 | 10-Q | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | -$53.4M | 2025-06-29 | 2026-08-06 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 95.7 is 15.7 points from the nearest band edge; sampling error is 2.9 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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