Short answer
Kraft Heinz (KHC) filed its fiscal 2025 10-K annual report with the SEC on Feb 12, 2026. It reported revenue of $24.9B (−3.5% year over year) and net income of −$5.8B.
- Top risk flagged: Regulatory risk: Commitment to remove FD&C colors from U.S. portfolio by end of 2027, failure or delay could harm brand image
FY2025 key financial metrics · XBRL
- Revenue
- $24.9B
- −3.5% YoY
- Net income
- −$5.8B
- −313.0% YoY
- Operating margin
- -18.7%
- −25.2 pp YoY
- Gross margin
- 33.3%
- −1.4 pp YoY
- EPS (diluted)
- −$4.93
- −318.1% YoY
- ROE
- -14.0%
- −19.6 pp YoY
- Operating cash flow
- $4.5B
- +6.6% YoY
Source: XBRL data from the Kraft Heinz (KHC) FY2025 10-K on SEC EDGAR. USD.
Kraft Heinz FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Global food and beverage company with $25 billion sales focused on eight consumer-driven product platforms
- New emphasis: Paused tax-free spin-off of Kraft Heinz into two independent companies as of Feb 2026, pending board and regulatory approvals
- Strategic shift: Launched KHAI internal AI assistant and Nadia AI leadership coach to enhance employee development and operational agility
- Quantitative metric: Approximately 35,000 employees in 40 countries, with 62% in production; employee engagement at highest survey score to date
- Noteworthy fact: Divested Plasmon infant and specialty food business in Italy in 1Q 2026, impacting intellectual property asset portfolio
Management Discussion & Analysis
- Revenue $24.9B, down 3.5% YoY from $25.8B in 2024, organic sales down 3.4% mainly due to unfavorable volume/mix (-4.1 pp)
- Operating loss $(4.7)B vs income $1.7B in 2024; adjusted operating income $4.7B (-11.5% YoY from $5.4B)
- North America and International Developed Markets had volume/mix declines; Emerging Markets volume/mix favorable, $146M divestiture closed in Italy
- Cash tax payments reduced in 2025 due to tax law change; separation transaction paused; share repurchases partially offset EPS decline
- Diluted EPS $(4.93) vs $2.26 in 2024; adjusted EPS $2.60 (-15.0% YoY); impairment losses $6.7B goodwill and $2.6B intangibles mainly drove losses
Risk Factors
- Regulatory risk: Commitment to remove FD&C colors from U.S. portfolio by end of 2027, failure or delay could harm brand image
- Geopolitical/macroeconomic risk: Inflationary pressures restrict price increases and increase commodity costs impacting profitability
- Operational risk: Supply chain disruptions from severe weather, natural disasters affecting raw material availability and distribution costs
- Competitive risk: Pressure from private label products sold at lower prices requiring increased marketing and trade spending
- Financial risk: Separation transaction paused, causing potential increased costs, management distraction, and uncertainty affecting business and stock price
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