At a glance
Kohl's Corporation is worth $2.65B, about 10 times its fiscal 2026 earnings. Revenue fell 4.3% to $15.53B in fiscal 2026, with 1.8% kept as profit; over 5 years it has grown 0.5% a year. It pays a 2.23% dividend yield, and returned $2.90B to shareholders in dividends and buybacks over FY2022–FY2026. The stock returned +46.5% over the past year with dividends reinvested and −7.9% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 69.6% in the 2020 crash (S&P 500: 33.7%) and 59.0% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Kohl's is a department store chain based in Wisconsin. As of January 31, 2026, it ran 1,153 stores, all in the United States, plus the Kohls.com website. It sells moderately priced clothing, shoes, accessories, beauty and home goods, and calls its core shopper a moderate-income customer.
Kohl's buys goods from many suppliers and sells them at a markup. Most of those goods are made overseas, mainly in Asia. It pairs national brands with labels sold only at Kohl's, such as Sonoma Goods for Life, Croft & Barrow, Apt. 9, SO and Tek Gear. It also sells exclusive lines made under deals with names like LC Lauren Conrad, Nine West and Simply Vera Vera Wang. These brands generally sell for less than national brands but earn higher gross margins (the share of each sale left after paying for the goods). In the fiscal year ended January 31, 2026, revenue was about $15.5 billion, down 4.3%, and gross margin was 40.6%.
Nine distribution centers supply the stores. Online orders ship from four e-commerce centers, from stores or from vendors, or are picked up in a store. Sales are usually highest during back-to-school and the holidays. The annual report shows sales by product line and brand type only in charts, so no exact split is given here.
Price history
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KSS +46.5% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2027 (ended Aug 1, 2026), revenue was $3.52B, down 0.9% from a year earlier, and net income was $151.0M (-1.3%).
- For fiscal 2026, revenue was $15.53B (-4.3% year over year; -0.5% a year from FY2021 to FY2026) with a 1.8% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | -0.5% weak |
|---|---|
| Operating margin | 4% weak |
| Free cash flow margin | 6.5% watch |
| Return on equity (FY2026) | 6.7% weak |
| Return on assets (FY2026) | 2% weak |
| Net cash (cash minus debt) | $-504.0M watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $15.96B | $-163.0M | $1.00B |
| FY2022 | $19.43B | $938.0M | $1.67B |
| FY2023 | $18.10B | $-19.0M | $-544.0M |
| FY2024 | $17.48B | $317.0M | $591.0M |
| FY2025 | $16.22B | $109.0M | $182.0M |
| FY2026 | $15.53B | $272.0M | $1.01B |
Valuation snapshot
| Market value | $2.65B |
|---|---|
| P/E ratio | 9.8 |
| Dividend yield | 2.23% |
Rank among 1514 US companies
Market value at each year end
Kohl's’s market value went from $8.71B at the end of 2016 to $2.65B on Oct 28, 2026, down 70%; since the end of 2025 it is up 16%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.65B | +15.6% |
| 2025 | $2.29B | +46.5% |
| 2024 | $1.56B | -50.8% |
| 2023 | $3.18B | +13.8% |
| 2022 | $2.79B | -59.4% |
| 2021 | $6.87B | +7.1% |
| 2020 | $6.41B | -19.6% |
| 2019 | $7.98B | -27.2% |
| 2018 | $10.95B | +20.2% |
| 2017 | $9.11B | +4.6% |
| 2016 | $8.71B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| KSS price data to Oct 28, 2026 | +17.3% | +46.5% | +9.0% | -7.9% | -1.2% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +17.3% |
| 2025 | +51.9% |
| 2024 | -45.9% |
| 2023 | +23.7% |
| 2022 | -46.0% |
| 2021 | +23.6% |
| 2020 | -16.9% |
| 2019 | -19.2% |
| 2018 | +26.6% |
| 2017 | +15.8% |
| 2016 | +8.3% |
| 2015 | -19.5% |
| 2014 | +10.6% |
| 2013 | +35.7% |
| 2012 | -10.5% |
| 2011 | -7.3% |
| 2010 | +0.8% |
| 2009 | +49.0% |
| 2008 | -21.0% |
| 2007 | -33.1% |
| 2006 | +40.8% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 44.3% over that stretch · deepest drop along the way 59.1%, back to its old high 59.5 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 69% over that stretch · deepest drop along the way 69.6%, back to its old high 9.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 44.7% over that stretch · deepest drop along the way 59%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 6 sales ($1.8M), 6 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Oct 22, 2026 | Jennifer J. Kent Chief Legal & Corp Affairs Off | sell (plan) | $551K |
| Aug 3, 2026 | Jennifer J. Kent Sr. EVP, CLO & Corp. Sec. | sell (plan) | $459K |
| Oct 15, 2026 | Jennifer J. Kent Chief Legal & Corp Affairs Off | sell (plan) | $404K |
| Aug 3, 2026 | Christie Raymond Sr. EVP, Chief Marketing Off. | sell (plan) | $300K |
| Oct 13, 2026 | Jennifer J. Kent Chief Legal & Corp Affairs Off | sell (plan) | $101K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.8% | Jun 30, 2025 |
| Vanguard Portfolio Management | 6.32% | Mar 31, 2026 |
| Dimensional Fund Advisors LP | 6.1% | Sep 30, 2026 |
| T. Rowe Price Associates, Inc. | 4.4% | Dec 31, 2024 |
| THE GOLDMAN SACHS GROUP, INC. | 4.2% | Dec 31, 2025 |
| FMR LLC | 0.3% | Dec 31, 2024 |
ETFs with the most weight in KSS
| FGD First Trust Dow Jones Global Select Dividend Index Fund | 1.77% |
| RWJ Invesco S&P SmallCap 600 Revenue ETF | 1.16% |
| MYLD Cambria Micro and SmallCap Shareholder Yield ETF | 0.78% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 0.65% |
| SDIV Global X SuperDividend ETF | 0.6% |
| PSCD Invesco S&P SmallCap Consumer Discretionary ETF | 0.56% |
| SYLD Cambria Shareholder Yield ETF | 0.3% |
| IBUY Amplify Online Retail ETF | 0.25% |
What could go wrong
- Its core shoppers cut back quickly. Kohl's says its moderate-income customers trim spending when food, fuel and healthcare costs rise. Every store is in the United States, so a U.S. slowdown hits harder than at more global rivals.
- Tariffs on goods made in Asia. Most goods Kohl's buys are made overseas, mainly in Asia. A February 20, 2026 Supreme Court ruling struck down some tariffs, but refunds are uncertain and new tariffs were announced, which could squeeze margins.
- Misjudged merchandise forces price cuts. If Kohl's misjudges demand or orders too much, it may need to cut prices to clear stock. Operating profit was 4 cents per sales dollar in the year ended January 31, 2026, leaving little room.
- Pressure from off-price and online rivals. Kohl's competes with online sellers, off-price chains, warehouse clubs, mass merchants and other department stores. It names product and value as the biggest competitive factors, so rival price cuts could pull shoppers away.
- Credit card and payment risks. Kohl's has its own credit card operations. The company warns payment problems could hurt sales and profits, raise costs, expose it to fraud or theft, and bring legal liability.
- Borrowing costs and access to credit. As of August 1, 2026, Kohl's had about $1.3 billion of debt and $821 million in cash and investments. If credit tightens, borrowing could cost more and leave less financial flexibility.
Recent events
- Executive or board change; Investor presentation or announcement
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Other company announcement
- Executive or board change; Investor presentation or announcement
- Major agreement signed
- Executive or board change
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Executive or board change; Shareholder vote results
- Other company announcement
For income and retirement investors
Kohl's pays a dividend, but it has not been steady. The regular dividend rose to $2.00 a share, then was cut to $0.50 in the fiscal year ended January 31, 2026, leaving no streak of increases. That payout used 20.6% of earnings and 5.6% of free cash flow (cash left after running and investing in the business). The yield was 2.23% as of October 28, 2026. Share buybacks totaled about $2.0 billion over the five fiscal years through January 2026, and the share count fell 18.5% between November 2021 and August 2026.
The shares have fallen hard in downturns. They lost 59.1% in the 2008 financial crisis and took almost five years to recover. They lost 69.6% in the 2020 COVID crash, recovering in about 9.7 months. They lost 59% in the 2022 bear market and had not recovered as of October 28, 2026. Like any single stock, Kohl's carries more risk than a diversified fund.
Questions investors ask
How does Kohl's make money?
Kohl's makes money by selling moderately priced clothing, shoes, accessories, beauty and home goods. As of January 31, 2026, it sold them through 1,153 U.S. stores and Kohls.com. It mixes national brands with its own labels, such as Sonoma Goods for Life and Croft & Barrow, which generally sell for less but earn higher gross margins. In the fiscal year ended January 31, 2026, revenue was about $15.5 billion and net income was $272 million.
Did Kohl's cut its dividend?
Yes. Kohl's paid $2.00 a share in regular dividends in each of the three fiscal years before the one ended January 31, 2026. In that year the total fell to $0.50, so the company has no streak of increases. The smaller payout used 20.6% of earnings and 5.6% of free cash flow, so profits and cash covered it easily at that level. The dividend yield was 2.23% as of October 28, 2026.
Are Kohl's sales going down?
Yes. Revenue reached about $19.4 billion in the fiscal year ended January 2022, then fell each year to about $15.5 billion in the fiscal year ended January 31, 2026. That was a 4.3% drop from the year before. The decline slowed in the quarter ended August 1, 2026, when revenue was about $3.5 billion, down 0.9% from a year earlier. Profit margins are thin: net income was $272 million in the fiscal year ended January 31, 2026, or about 1.8 cents per dollar of sales.
How much debt does Kohl's have?
Kohl's had about $1.3 billion of total debt and $821 million in cash and investments as of August 1, 2026. That means debt was about $504 million more than cash. Shareholders' equity (assets minus liabilities) was about $4.2 billion. In its annual report, Kohl's warns it may be unable to raise capital or keep credit on favorable terms, which could limit its flexibility and raise its costs.
How has Kohl's stock performed over the years?
The share price has fallen over five and ten years, with big swings along the way. As of October 28, 2026, it was up 46.5% over one year but down 34% over five years and 11% over ten years, before dividends. Calendar-year moves included drops of about 46% in both 2022 and 2024 and a gain of about 52% in 2025. Its one-year beta of 1.54 means it tended to move about 1.5 times as much as the overall market.