Krispy Kreme, Inc. (DNUT) intrinsic value & 10-year financials
Krispy Kreme, Inc. (DNUT) has a Graham intrinsic value of $0.42 per share. At $3.02 on Oct 17, 2026, the stock trades 619% above that value. Over the last 7 fiscal years revenue grew 9.7% a year to $1.5B, with an average return on invested capital of -3.2%.
- Graham intrinsic value
- $0.42
- Share price (Oct 17, 2026)
- $3.02
- Price vs Graham value
- 619% above
- Market cap
- $516.2M
- Revenue (FY2025)
- $1.5B
- Revenue growth (7-yr CAGR)
- 9.7%
- ROIC (10-yr avg)
- -3.2%
- Free cash flow (FY2025)
- -$64.0M
DNUT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.5B | -$515.8M | -$3.04 | -$64.0M | -30.8% | -25.1% |
| FY2024 | $1.7B | $3.1M | $0.02 | -$75.0M | -0.5% | -0.2% |
| FY2023 | $1.7B | -$37.9M | -$0.23 | -$75.9M | 0.8% | 0.6% |
| FY2022 | $1.4B | -$24.5M | -$0.18 | $21.7M | 3.0% | 2.4% |
| FY2021 | $1.1B | -$64.3M | -$0.52 | -$69.2M | 0.4% | 0.3% |
| FY2019 | $959.4M | -$37.4M | -$0.30 | $4.4M | 4.0% | 2.6% |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Krispy Kreme, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Krispy Kreme, Inc. has historically struggled to out-earn its cost of capital, averaging just -3.2% ROIC.
Over the decade, Krispy Kreme, Inc. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Krispy Kreme, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $0.42 per share.