At a glance
Kraft Heinz Co is worth $29.56B. Revenue fell 3.5% to $24.94B in fiscal 2025, at a loss; over 5 years it has grown 1.0% a year. It pays a 13.88% dividend yield, and returned $12.14B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +15.7% over the past year with dividends reinvested and −1.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 25.4% in the 2020 crash (S&P 500: 33.7%) and 24.0% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Kraft Heinz makes packaged foods and drinks. Its major brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid and Jell-O. It also sells Capri Sun drink pouches under license. The company was formed in 2015, when Kraft Foods Group merged with Heinz. It had net sales of about $24.9 billion in the fiscal year ended December 27, 2025.
It buys large amounts of dairy, meat, sugar, coffee, tomatoes and vegetable oils and turns them into branded products. It sells them to supermarket chains, club and convenience stores, mass merchants, online retailers, and foodservice customers such as restaurants and hospitals. Walmart alone made up about 21% of 2025 net sales. Condiments, sauces, dressings and spreads are the biggest product group at 45% of sales. Next come easy ready meals such as Kraft Mac & Cheese and frozen potatoes, at 17%.
North America brought in 74.5% of fiscal 2025 sales, and the United States alone about 67%. International Developed Markets (Europe and developed Pacific markets), with brands such as Golden Circle and Wattie's, added 14.2%. Emerging Markets, with brands such as ABC, Master and Quero, added 11.3%. In September 2025 the company announced a plan to split into two public companies. Its board paused that work on February 11, 2026.
Price history
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KHC +15.7% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| North America | $18.59B | 74.5% |
| International Developed Markets | $3.54B | 14.2% |
| Emerging Markets Segment | $2.82B | 11.3% |
By geography
| U.S. Plans | $16.78B | 67.3% |
| Other | $5.09B | 20.4% |
| Canada | $1.80B | 7.2% |
| United Kingdom | $1.27B | 5.1% |
Latest results
- In Q2 FY2026 (ended Jun 27, 2026), revenue was $6.26B, down 1.4% from a year earlier, and net income was $-5.46B.
- For fiscal 2025, revenue was $24.94B (-3.5% year over year; -1.0% a year from FY2020 to FY2025) with a -23.4% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | -1.0% weak |
|---|---|
| Operating margin | -18.7% weak |
| Free cash flow margin | 14.7% good |
| Return on equity (FY2025) | -14% weak |
| Return on assets (FY2025) | -7.1% weak |
| Net cash (cash minus debt) | $-16.32B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $26.18B | $356.0M | $4.33B |
| FY2021 | $26.04B | $1.01B | $4.46B |
| FY2022 | $26.48B | $2.36B | $1.55B |
| FY2023 | $26.64B | $2.85B | $2.96B |
| FY2024 | $25.85B | $2.74B | $3.16B |
| FY2025 | $24.94B | $-5.85B | $3.66B |
Valuation snapshot
| Market value | $29.56B |
|---|---|
| P/E ratio | — |
| Dividend yield | 13.88% |
Rank among 1514 US companies
Market value at each year end
Kraft Heinz’s market value went from $106.29B at the end of 2016 to $29.56B on Nov 2, 2026, down 72%; since the end of 2025 it is up 3%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $29.56B | +3.0% |
| 2025 | $28.70B | -22.7% |
| 2024 | $37.13B | -18.1% |
| 2023 | $45.36B | -9.0% |
| 2022 | $49.87B | +13.4% |
| 2021 | $43.99B | +3.8% |
| 2020 | $42.38B | +8.0% |
| 2019 | $39.24B | -25.2% |
| 2018 | $52.48B | -44.6% |
| 2017 | $94.75B | -10.9% |
| 2016 | $106.29B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| KHC price data to Nov 2, 2026 | +8.0% | +15.7% | -1.9% | -1.5% | -6.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +8.0% |
| 2025 | -10.1% |
| 2024 | -13.0% |
| 2023 | -5.0% |
| 2022 | +18.3% |
| 2021 | +8.0% |
| 2020 | +14.1% |
| 2019 | -21.1% |
| 2018 | -42.2% |
| 2017 | -8.4% |
| 2016 | +23.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 22.4% over that stretch · deepest drop along the way 25.4%, back to its old high 0.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 0.8% over that stretch · deepest drop along the way 24%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 1 open-market purchases ($5.0M) and 5 sales ($7.0M), 4 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| May 12, 2026 | Steven A Cahillane Chief Executive Officer, Director | buy | $5.0M |
| Dec 18, 2025 | Miguel Patricio Executive Chair, Director | sell (plan) | $3.1M |
| Dec 17, 2025 | Miguel Patricio Executive Chair, Director | sell (plan) | $3.1M |
| Jun 18, 2026 | Diana Frost Glbl Chief Growth Officer | sell | $427K |
| Mar 2, 2026 | Cory Onell Chief Omnich Sales & AEM Ofcr | sell (plan) | $223K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 5.8% | Mar 31, 2025 |
| Vanguard Capital Management | 5.34% | Mar 31, 2026 |
ETFs with the most weight in KHC
| FTXG First Trust Nasdaq Food & Beverage ETF | 7.25% |
| QQLV Invesco QQQ Low Volatility ETF | 3.76% |
| FXG First Trust Consumer Staples AlphaDEX Fund | 3.29% |
| BAMD Brookstone Dividend Stock ETF | 3.28% |
| WBIG WBI BullBear Yield 3000 ETF | 2.8% |
| XUDV Franklin U.S. Dividend Multiplier Index ETF | 2.41% |
| SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 2.34% |
| BLCV iShares Large Cap Value Active ETF | 2.17% |
What could go wrong
- A paused split clouds the strategy. Kraft Heinz announced plans in September 2025 to split into two public companies, then paused the work on February 11, 2026. Restarting brings cost and tax risks, and the plan could also be dropped.
- Heavy reliance on Walmart and big retailers. Walmart made up about 21% of 2025 net sales. The five largest North America customers made up about 46% of that segment's sales. Losing shelf space or bargaining power with them could hurt results.
- Heavy debt and credit rating risk. As of June 27, 2026, total debt was $19.0 billion against $2.7 billion of cash and investments. A credit downgrade could raise interest costs, and loan covenants (lender conditions) could limit flexibility.
- More write-downs of acquired brands. The 10-K warns of additional impairments, meaning write-downs of the value of past acquisitions and brand names on its books. These charges don't use cash, but they can cause large reported losses.
- Rising costs, limited room to raise prices. Supply chain costs rose in 2025, partly because of tariffs, and hedging doesn't fully cover swings in commodity prices. Cheaper store brands and pressure from retailers can stop Kraft Heinz from passing those costs on.
- Changing tastes, including weight-loss drugs. Consumer tastes shift quickly. The 10-K flags health and wellness preferences, concerns about ingredients, and eating changes possibly linked to weight-loss drugs. If Kraft Heinz misjudges these shifts, sales and market share could fall.
Recent events
- Other company announcement
- Executive or board change
- Listing notice from the exchange; Investor presentation or announcement
- Quarterly results released
- Bylaws or fiscal year changed
- Executive or board change
- Investor presentation or announcement
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Shareholder vote results
- Other company announcement
For income and retirement investors
Kraft Heinz paid a regular dividend of $1.60 per share in every fiscal year from 2020 through 2025, with no increases. In fiscal 2025 it paid about $1.9 billion in dividends. That was about 52% of free cash flow, the cash left after running and investing in the business. But the company posted a net loss of $4.93 per share, so earnings did not cover the payout. From fiscal 2021 to 2025 it returned $9.7 billion in dividends and $2.4 billion in buybacks. The 10-K says future dividends are up to the board and may be limited by debt agreements.
The share price fell 25% in the 2020 COVID crash but recovered within about a month. Over the market's 2022 slide it rose 0.8%, though it still dropped 24% from May to September 2022. As of October 28, 2026, the price was down about 53% over 10 years. A single stock carries more risk than a diversified fund.
Questions investors ask
Does Kraft Heinz raise its dividend every year?
No. Kraft Heinz paid the same regular dividend of $1.60 per share in each fiscal year from 2020 through 2025, so it has no streak of increases. In fiscal 2025 the dividend used about 52% of free cash flow. But the company posted a net loss of $4.93 per share, so earnings did not cover it. The 10-K says dividends are up to the board and can be limited by the company's finances and debt agreements.
How does Kraft Heinz make money?
Kraft Heinz makes money by selling branded packaged foods and drinks to grocery chains, mass merchants, club stores, online retailers and foodservice customers. Condiments, sauces, dressings and spreads made up 45% of fiscal 2025 net sales. Easy ready meals such as Kraft Mac & Cheese made up 17%. North America produced 74.5% of the roughly $24.9 billion total, and Walmart alone bought about 21%. Gross margin, the share of sales left after production costs, was 33.3%.
Is Kraft Heinz splitting into two companies?
Not as of its annual report filed February 12, 2026. On September 2, 2025, Kraft Heinz announced plans to split into two independent public companies through a tax-free spin-off. Its board paused that work on February 11, 2026. If work resumes, the split would still need final board approval, favorable tax opinions and effective SEC filings. The 10-K warns that a split might not deliver the expected benefits. It could also create large tax bills if it does not qualify as tax-free.
How much debt does Kraft Heinz have?
As of June 27, 2026, Kraft Heinz had about $19.0 billion of total debt and $2.7 billion of cash and investments, leaving net debt of about $16.3 billion. Shareholder equity was about $36.0 billion. Free cash flow was $3.7 billion in fiscal 2025. The 10-K warns that its debt and loan covenants (conditions set by lenders) could restrict the business. It also warns that a credit rating downgrade could raise interest costs or make borrowing harder.
Has Kraft Heinz stock gone up over the last 10 years?
No. As of October 28, 2026, the share price was down about 53% over 10 years, or about 7.3% a year. It was down about 10% over five years. It fell 42% in 2018, 13% in 2024 and 10% in 2025. Its deepest drop from a peak on record was 76%. Over the year to October 28, 2026, the price rose 7.3%. These figures track the share price only, so dividends would have offset part of the decline.