GONasdaqRetail-Grocery StoresFiscal year ends January 2
Grocery Outlet Holding Corp.
Financials through Q2 FY2026, quarter ended Jul 4, 2026Last filing: 10-Q on Aug 12, 2026
$12.79−0.08 (-0.62%)
Close on Oct 19, 2026
- Market cap
- $1.28B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2016 to 2025
Gross margin
30.3%−0.8 pts over 5 years
Operating margin
-4.7%−8.2 pts over 5 years
Net margin
-4.8%−8.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.3% | +9.4% | +8.4% | – | |
| Gross profit | +7.4% | +9.1% | +7.8% | – | |
| Free cash flow | – | -24.4% | -15.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 12.8% | -20.6% | |
| Return on assets | – | 4.6% | -7.2% | |
| Current ratio | – | 1.64 | 1.37 | |
| Debt to equity | – | 0.49 | 0.50 | |
| Net debt to EBITDA | – | 2.11× | – | |
| Capex to revenue | – | 4.0% | 4.2% | |
| Diluted shares | – | 98M | 98M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Grocery Outlet generated $988.64M from operations and spent $898.81M on capital expenditure, dividends and share buybacks. 90% of that went back into the business.
Generated
$988.64M
Used
$898.81M
Capital expenditure$807.80M90%Dividends$306.00K0%Share buybacks$90.70M10%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-4.8%
×Asset turnover1.50×
×Equity multiplier2.87×
=Return on equity, FY2025-20.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -4.8% | 1.50× | 2.87× | -20.6% |
| FY2024 | 0.9% | 1.42× | 2.54× | 3.3% |
| FY2023 | 2.0% | 1.38× | 2.46× | 6.8% |
| FY2022 | 1.8% | 1.31× | 2.57× | 6.1% |
| FY2021 | 2.0% | 1.19× | 2.67× | 6.5% |
| FY2020 | 3.4% | 1.34× | 2.80× | 12.8% |
| FY2019 | 0.6% | 1.44× | 3.41× | 3.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$224.91M
- Cash generatingOperating cash flow above zero$222.13M
- Return on assets improvedROA up on the prior year1.3% → -7.1%
- Earnings backed by cashOperating cash flow above net income$222.13M vs -$224.91M
- Less leverageLong-term debt to assets fell14.6% → 15.5%
- Better liquidityCurrent ratio rose1.44 → 1.37
- No dilutionShare count did not rise100M → 98M
- Gross margin improvedGross margin up on the prior year30.24% → 30.27%
- More efficientAsset turnover rose1.47 → 1.48