企業概要
The Kroger Co. (KR) operates as a leading food and drug retailer within the United States, managing a diverse portfolio that includes combination food and drug stores, multi-department outlets, marketplace locations, and price impact warehouses. These combination food and drug stores specifically feature specialized natural food and organic sections alongside pharmacies and general merchandise offerings. The company is classified within the Consumer Defensive sector and the Grocery Stores industry, a classification that reflects its role in providing essential goods that tend to remain resilient during economic downturns. With a market capitalization of $44.52B and annual revenue of $147.64B, the entity represents a significant player in the retail landscape, supported by a workforce of 403,000 employees. These valuation and revenue figures indicate that the company possesses substantial scale and market penetration, allowing it to exert considerable influence over pricing power and supply chain logistics within the highly competitive grocery sector.
財務健全性
The company reported a total revenue of $147.64B and net income of $1.01B over the trailing twelve months, with an EBITDA of $8.09B. The substantial disparity between the $147.64B in revenue and the $1.01B in net income highlights a cost structure characterized by high operating leverage and significant expenses related to inventory, labor, and logistics. However, the EBITDA figure of $8.09B suggests that before accounting for interest, taxes, depreciation, and amortization, the business generates robust operating cash flow to service debt and fund operations. The free cash flow stands at $3.40B, providing the company with significant financial flexibility to return capital to shareholders or invest in store modernization without relying heavily on external financing. The gross margin is 24.1%, while the operating margin is 3.4% and the profit margin is 0.7%, indicating that after covering the cost of goods sold and all operational expenses, the company retains a very thin slice of revenue as profit. In terms of liquidity, the company holds $3.33B in cash against $24.69B in total debt, resulting in a debt-to-equity ratio of 415.97%, which signals a highly leveraged balance sheet typical of capital-intensive retail operations. Despite the high leverage, the current ratio of 0.80 indicates that current assets are lower than current liabilities, suggesting potential short-term liquidity pressure if inventory turnover slows or receivables accumulate. Return on Equity is 14.4% and Return on Assets is 5.8%, metrics that reveal management's effectiveness in generating returns relative to the equity invested and the total asset base utilized, respectively.
バリュエーション評価
The trailing twelve-month P/E ratio is 45.68, whereas the forward P/E is 12.51, implying that the market expects earnings to increase significantly in the coming year compared to current levels. The price-to-book ratio is 5.70, indicating that the stock trades at a substantial premium relative to its tangible book value, likely reflecting the value of its real estate, brand equity, and customer loyalty. Alternative valuation metrics such as the price-to-sales ratio of 0.30 and EV/EBITDA of 9.57 suggest that the company is valued conservatively relative to its sales volume but moderately relative to its earnings power before non-cash expenses. The 52-week high is $76.58 and the 52-week low is $58.60, and assuming the current market price aligns with the forward P/E multiple logic, the stock sits within the lower to middle portion of its recent trading range relative to the high, though exact current price positioning requires the latest daily quote which is not provided in the facts. The beta value is 0.55, which means the stock's price volatility is historically lower than the broader market, making it a relatively stable holding for portfolios seeking defensive characteristics against market swings.
Growth & Income
Revenue growth year-over-year is 1.2%, while earnings growth year-over-year is 50.9%, demonstrating that earnings are expanding at a rate far faster than revenue, likely driven by margin expansion or one-time factors not detailed in the static facts. As a dividend payer with a yield of 2.0% and a payout ratio of 87.0%, the company distributes a large portion of its earnings to shareholders, which may limit the room for further dividend growth if earnings were to stagnate. The high payout ratio of 87.0% indicates that the company is relying heavily on current earnings to fund dividends, which must be monitored closely given the thin profit margins of 0.7%. Overall, the growth and income profile presents a mix of modest top-line expansion paired with explosive earnings growth and a high-yield dividend, offering investors a return component that is substantial but potentially sensitive to operational efficiency.