Tearsheet

Krispy Kreme (DNUT)


Market Price (12/26/2025): $4.255 | Market Cap: $728.3 Mil
Sector: Consumer Staples | Industry: Consumer Staples Merchandise Retail

Krispy Kreme (DNUT)


Market Price (12/26/2025): $4.255
Market Cap: $728.3 Mil
Sector: Consumer Staples
Industry: Consumer Staples Merchandise Retail

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
Dividend Yield is 2.5%
Weak multi-year price returns
2Y Excs Rtn is -118%, 3Y Excs Rtn is -142%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -58 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.8%
1 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, Experiential Retail, Show more.
Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 194%
2   Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 46x
3   Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -10%, Rev Chg QQuarterly Revenue Change % is -1.2%
4   Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.4%
5   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -72%
6   Key risks
DNUT key risks include [1] a precarious financial position due to net losses and significant debt, Show more.
0 Attractive yield
Dividend Yield is 2.5%
1 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail, and Experience Economy & Premiumization. Themes include Direct-to-Consumer Brands, Experiential Retail, Show more.
2 Weak multi-year price returns
2Y Excs Rtn is -118%, 3Y Excs Rtn is -142%
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 15%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -58 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.8%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 194%
6 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 46x
7 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -10%, Rev Chg QQuarterly Revenue Change % is -1.2%
8 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.4%
9 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -72%
10 Key risks
DNUT key risks include [1] a precarious financial position due to net losses and significant debt, Show more.

Valuation, Metrics & Events

DNUT Stock


Why The Stock Moved


Qualitative Assessment

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The Krispy Kreme (DNUT) stock saw significant activity between August 31, 2025, and December 26, 2025. Here are key points that influenced its movement:

1. Krispy Kreme's Q3 2025 Earnings Beat Estimates: Krispy Kreme reported its third-quarter 2025 financial results on November 6, 2025, exceeding analysts' consensus estimates for earnings per share (EPS). The company reported an adjusted EPS of $0.01, significantly surpassing the projected loss of $0.05 per share. This earnings beat indicated progress in the company's turnaround plan and improved profitability. Shares reacted positively to this news, rising over 7% in pre-market trading and surging 10.08% in regular trading, as investors prioritized improved cash flow and operational enhancements.

2. Strategic Refranchising Agreement for Japan Operations: On December 19, 2025, Krispy Kreme announced an agreement to sell its Japanese subsidiary to Unison Capital for approximately $65 million. This transaction is the company's first international refranchising move under its turnaround plan, initiated in August 2025. The proceeds are expected to be used for debt reduction, enhancing financial flexibility. This strategic move aims to shift Japan operations to a franchise model, preserving and potentially expanding the brand's presence in the Japanese market.

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Stock Movement Drivers

Fundamental Drivers

The 30.1% change in DNUT stock from 9/25/2025 to 12/25/2025 was primarily driven by a 30.7% change in the company's P/S Multiple.
925202512252025Change
Stock Price ($)3.264.2430.06%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1538.841534.27-0.30%
P/S Multiple0.360.4730.73%
Shares Outstanding (Mil)170.80171.16-0.21%
Cumulative Contribution30.06%

LTM = Last Twelve Months as of date shown

Market Drivers

9/25/2025 to 12/25/2025
ReturnCorrelation
DNUT30.1% 
Market (SPY)4.9%24.6%
Sector (XLP)0.5%27.7%

Fundamental Drivers

The 58.8% change in DNUT stock from 6/26/2025 to 12/25/2025 was primarily driven by a 66.2% change in the company's P/S Multiple.
626202512252025Change
Stock Price ($)2.674.2458.80%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1597.881534.27-3.98%
P/S Multiple0.280.4766.23%
Shares Outstanding (Mil)170.29171.16-0.51%
Cumulative Contribution58.80%

LTM = Last Twelve Months as of date shown

Market Drivers

6/26/2025 to 12/25/2025
ReturnCorrelation
DNUT58.8% 
Market (SPY)13.1%26.2%
Sector (XLP)-1.9%21.1%

Fundamental Drivers

The -55.7% change in DNUT stock from 12/25/2024 to 12/25/2025 was primarily driven by a -50.1% change in the company's P/S Multiple.
1225202412252025Change
Stock Price ($)9.574.24-55.71%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1712.281534.27-10.40%
P/S Multiple0.950.47-50.11%
Shares Outstanding (Mil)169.60171.16-0.92%
Cumulative Contribution-55.71%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2024 to 12/25/2025
ReturnCorrelation
DNUT-55.7% 
Market (SPY)15.8%27.2%
Sector (XLP)0.2%21.4%

Fundamental Drivers

The -58.2% change in DNUT stock from 12/26/2022 to 12/25/2025 was primarily driven by a -58.3% change in the company's P/S Multiple.
1226202212252025Change
Stock Price ($)10.134.24-58.15%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)1495.901534.272.57%
P/S Multiple1.130.47-58.29%
Shares Outstanding (Mil)167.43171.16-2.23%
Cumulative Contribution-58.17%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2023 to 12/25/2025
ReturnCorrelation
DNUT-71.6% 
Market (SPY)48.3%23.3%
Sector (XLP)14.4%19.1%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
DNUT Return��-45%48%-33%-57%-77%
Peers Return12%21%8%-9%-8%-11%10%
S&P 500 Return16%27%-19%24%23%18%115%

Monthly Win Rates [3]
DNUT Win Rate�60%33%58%33%42% 
Peers Win Rate55%63%53%40%45%38% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
DNUT Max Drawdown��-45%0%-39%-74% 
Peers Max Drawdown-22%-6%-15%-19%-13%-19% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: SBUX, SJM, FLO, MDLZ, HSY.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)

How Low Can It Go

Unique KeyEventDNUTS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-50.9%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven103.5%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days

Compare to WMT, DG, WMK, IMKTA, COST

In The Past

Krispy Kreme's stock fell -50.9% during the 2022 Inflation Shock from a high on 7/1/2021. A -50.9% loss requires a 103.5% gain to breakeven.

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About Krispy Kreme (DNUT)

Krispy Kreme, Inc., together with its subsidiaries, operates through an omni-channel business model to provide doughnut experiences and produce doughnuts. The company operates through three segments: U.S. and Canada, International, and Market Development. It also produces cookies, brownies, cookie cakes, ice cream, cookie-wiches, and cold milk, as well as doughnut mixes, other ingredients, and doughnut-making equipment. As of January 2, 2022, the company had 1,810 Krispy Kreme and Insomnia Cookies-branded shops in approximately 30 countries worldwide, which include 971 company owned and 839 franchised. It serves through doughnut shops, delivered fresh daily outlets, ecommerce, and delivery business. The company was formerly known as Krispy Kreme Doughnuts, Inc. and changed its name to Krispy Kreme, Inc. in May 2021. Krispy Kreme, Inc. was founded in 1937 and is headquartered in Charlotte, North Carolina.

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  • The Starbucks of doughnuts.
  • The Ben & Jerry's of doughnuts.
  • The Shake Shack of doughnuts.

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  • Doughnuts: A wide variety of freshly made doughnuts, most famously their Original Glazed doughnut.
  • Coffee: A selection of hot and iced coffee beverages, often paired with their doughnuts.
  • Other Beverages: A range of cold drinks, milk, and specialty beverages available in their shops.

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Krispy Kreme (symbol: DNUT) operates a hybrid business model. While it sells directly to individual consumers through its company-owned and franchised shops, a significant and growing portion of its business involves wholesale sales to other companies. This is primarily through its "Delivered Fresh Daily" (DFD) model, where fresh doughnuts are delivered to various retail locations, and through the distribution of packaged sweet treats.

Given the substantial sales to other businesses for resale, Krispy Kreme's major customers include the following categories of companies:

Grocery Store Chains

These large national and regional retailers purchase Krispy Kreme's fresh doughnuts via the DFD model and packaged sweet treats for sale in their stores, making them key distribution partners and customers.

  • Walmart Inc. (Symbol: WMT)
  • The Kroger Co. (Symbol: KR)
  • Target Corporation (Symbol: TGT)

Convenience Store Chains

Convenience store operators are also significant wholesale customers, distributing Krispy Kreme's fresh doughnuts and packaged products across thousands of locations.

  • Seven & i Holdings Co., Ltd. (Symbol: SIFBY) - The parent company of 7-Eleven.
  • Alimentation Couche-Tard Inc. (Symbol: ATD.B on TSX, also traded as ANCTF on OTC) - Operates the Circle K brand, among others.

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Josh Charlesworth, President and Chief Executive Officer

Josh Charlesworth has served as President and Chief Executive Officer of Krispy Kreme since January 2024. Prior to this role, he held several key positions within the company, including Global President from June 2022 to December 2023, Chief Operating Officer from May 2019 to December 2023, Chief Financial Officer from April 2017 to January 2023, and Corporate Secretary from July 2018 to August 2020. Before joining Krispy Kreme in 2017, Mr. Charlesworth spent nearly 15 years at Mars, Inc., where he held various leadership roles such as CFO, Vice President Global Chocolate, Regional Finance Director, and CFO for Wrigley Europe and Wrigley Germany. He also held positions at JAB Holding, serving as President, Chief Operating Officer, and Chief Financial Officer. His background at JAB Holding, a private equity firm, indicates a pattern of managing companies backed by private equity. He holds a Bachelor of Science degree in Economics and Economic History from The London School of Economics and Political Science.

Raphael Duvivier, Chief Financial Officer

Raphael Duvivier has served as Krispy Kreme's Chief Financial Officer since July 2025. He joined the company in January 2019 and has held multiple leadership roles, including President, International, Chief Development Officer, and Chief Financial and Strategy Officer, International. Before his tenure at Krispy Kreme, Mr. Duvivier held various senior leadership positions at Restaurant Brands International Inc. across different regions, and also worked at Opus Investments. He holds a B.Sc. in Industrial Engineering from the Pontifícia Universidade Católica do Rio de Janeiro, Brazil, and an M.B.A. from INSEAD.

Nicola Steele, Chief Operating Officer

Nicola Steele has served as Krispy Kreme's Chief Operating Officer since March 2025. She has over 15 years of experience with Krispy Kreme, having previously served as President and Director of Krispy Kreme Australia & New Zealand from September 2023 to March 2025, Chief Operating Officer for Krispy Kreme subsidiaries from March 2022 to August 2023, and Retail Director from January 2019 to February 2022. Ms. Steele began her career with the company in October 2006 as a crew member and has held progressively more senior leadership positions in store and operations management.

Alison Holder, Chief Brand and Product Officer

Alison Holder became Krispy Kreme's Chief Brand and Product Officer effective July 11, 2025. She has worked with Krispy Kreme for 25 years, previously serving as Chief Product Officer and, at one point, as Senior Director of Consumer Insights.

Atiba Adams, Chief Legal Officer and Corporate Secretary

Atiba Adams has served as Krispy Kreme's Chief Legal Officer and Corporate Secretary since June 2024. Prior to joining Krispy Kreme, Mr. Adams was Senior Vice President, Deputy General Counsel at Bausch + Lomb from January 2022 to June 2024. He also held various roles at Mars, Incorporated, including General Counsel of Mars Global Petcare from July 2017 to January 2022 and General Counsel of Mars Global Chocolate from February 2015 to July 2017.

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Krispy Kreme (DNUT) faces several key risks to its business:
  1. Financial Health and Profitability: Krispy Kreme is currently under significant financial pressure, reporting GAAP net losses and experiencing declining net revenue. The company also grapples with high operating expenses and a notable debt-to-equity ratio, which led to the suspension of its dividend in May 2025. This financial strain raises concerns about potential financial instability.
  2. Execution of Growth and Omni-channel Strategy: The company is undergoing a substantial strategic shift, moving towards a "Delivered Fresh Daily (DFD) model" and a "capital-light model." This involves closing underperforming locations and concentrating on profitable expansion. There is acknowledged "execution risk" associated with successfully implementing this pivot, as past strategic decisions, such as the fallout from the McDonald's partnership, have negatively impacted performance.
  3. Cybersecurity Incidents: Krispy Kreme has experienced cybersecurity issues, including a 2024 Cybersecurity Incident that resulted in operational inefficiencies and impacted financial results. The company acknowledges the ongoing risk of cybersecurity threats and potential disruptions to its information technology systems.

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The addressable markets for Krispy Kreme's main products and services include the global and U.S. markets for doughnuts, sweet baked goods, and coffee/coffee shops.

Doughnuts

  • The global doughnut market was valued at approximately USD 44.7 billion in 2024 and is anticipated to reach around USD 66.8 billion by 2033, growing at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2033.
  • In the U.S. alone, the doughnut market is estimated at USD 9.6 billion in 2025.

Sweet Baked Goods (including doughnuts, cakes, pastries, cookies, and muffins)

  • The global sweet baked goods market is projected to grow from USD 265 billion in 2024 to USD 380 billion by 2033, at a CAGR of 4.3%.
  • The U.S. bakery products market, which encompasses sweet baked goods, is projected to reach an estimated value of USD 148.98 billion by 2032.

Coffee and Coffee Shops

  • The global coffee shop market was valued at USD 220.41 billion in 2024 and is expected to grow to nearly USD 290.24 billion by 2032, at a CAGR of 3.5%.
  • The U.S. coffee shop market grew to $49.5 billion as of late 2024.
  • The broader U.S. coffee industry generates an annual revenue of $88.5 billion.

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Krispy Kreme (DNUT) is expected to drive future revenue growth over the next two to three years through several key strategies:

  • Expansion of Global Points of Access (POA): The company is focused on significantly expanding its fresh delivery door network across various channels, including grocery stores, convenience stores, club wholesalers, and quick-service restaurants, both domestically and internationally. This includes adding profitable doors with strategic partners.
  • International Market Expansion and Capital-Light Franchising: Krispy Kreme is accelerating its global expansion efforts, with plans to sign three to five international development deals annually and explore new markets such as Uzbekistan and Brazil. The international segment has demonstrated strong organic revenue growth in key markets like Canada, Japan, and Mexico, and the company is increasingly adopting a capital-light international franchise model, alongside refranchising initiatives.
  • Growth in Delivered Fresh Daily (DFD) and Digital Sales: Krispy Kreme continues to leverage its Delivered Fresh Daily network and digital sales channels, which have been significant contributors to organic revenue growth. Digital sales in the U.S. have shown substantial year-over-year increases, now representing over 20% of U.S. retail sales.
  • Product Innovation and Menu Refresh: The company aims to capture opportunities through its iconic brand by driving innovation, including impactful Limited Time Offers and premium products. Krispy Kreme is also refreshing its everyday donut menu with trending flavors, fan favorites, and returning popular options to enhance variety for consumers.
  • Strategic U.S. Growth with Key Retail Partners: While strategically exiting some unprofitable locations, Krispy Kreme is concentrating on profitable expansion within the U.S. through partnerships with high-volume strategic customers such as Walmart, Target, Costco, Sam's Club, Kroger, and Publix.

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Share Repurchases

  • Krispy Kreme planned to utilize IPO proceeds to repurchase shares from certain executive officers.
  • A cash deficit of $10.1 million was observed after accounting for dividends and buybacks in Q1 FY 2025.

Share Issuance

  • Krispy Kreme completed its initial public offering (IPO) on July 1, 2021, offering 29,411,765 shares at $17.00 per share.
  • The IPO raised approximately $500 million, falling short of its initial estimated target.
  • JAB Holding, the controlling shareholder, aimed to purchase up to $100 million worth of shares in the 2021 IPO.

Inbound Investments

  • JAB Holding Co. took Krispy Kreme private in 2016 for $1.35 billion and remained the controlling shareholder after the 2021 IPO.
  • JAB Holding indicated an intent to purchase up to $100 million in shares during Krispy Kreme's 2021 IPO.

Outbound Investments

  • Krispy Kreme divested a majority stake in Insomnia Cookies during the third quarter of fiscal 2024.
  • The company is prioritizing a capital-light international franchise model for global expansion, including a joint venture for its entry into Spain.

Capital Expenditures

  • Capital expenditures for Q1 2025 were $25.9 million, primarily allocated to support U.S. nationwide expansion.
  • For the full year 2024, capital expenditures were projected to be between 7% and 8% of net revenue.
  • Krispy Kreme plans to reduce capital spending in 2026 compared to 2025 as part of its turnaround strategy, focusing on improving return on invested capital through existing assets and franchise development.

Better Bets than Krispy Kreme (DNUT)

Trade Ideas

Select ideas related to DNUT. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
BF-B_11302025_Dip_Buyer_ValueBuy11302025BF-BBrown-FormanDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-6.5%-6.5%-7.4%
CPB_11302025_Dip_Buyer_ValueBuy11302025CPBCampbell'sDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-8.1%-8.1%-9.2%
ENR_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025ENREnergizerDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
13.2%13.2%-5.3%
FLO_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11212025FLOFlowers FoodsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
5.2%5.2%-1.6%
CLX_11142025_Dip_Buyer_FCFYield11142025CLXCloroxDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-5.3%-5.3%-6.0%

Recent Active Movers

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Peer Comparisons for Krispy Kreme

Peers to compare with:

Financials

DNUTSBUXSJMFLOMDLZHSYMedian
NameKrispy K.StarbucksJM Smuck.Flowers .Mondelez.Hershey  
Mkt Price4.2484.5799.2210.8754.62184.8069.59
Mkt Cap0.796.110.62.370.637.524.0
Rev LTM1,53437,1848,7735,13537,64511,29510,034
Op Inc LTM-583,5811,3323204,3342,1551,744
FCF LTM-992,4426363252,2901,5791,107
FCF 3Y Avg-703,1457952573,1561,5391,167
CFO LTM164,7489694513,5762,1461,557
CFO 3Y Avg505,6171,2683844,3782,1931,730

Growth & Margins

DNUTSBUXSJMFLOMDLZHSYMedian
NameKrispy K.StarbucksJM Smuck.Flowers .Mondelez.Hershey  
Rev Chg LTM-10.4%2.8%-0.7%0.3%4.1%2.5%1.4%
Rev Chg 3Y Avg1.2%5.0%2.5%3.0%7.5%5.2%4.0%
Rev Chg Q-1.2%5.5%2.6%3.0%5.9%26.0%4.2%
QoQ Delta Rev Chg LTM-0.3%1.3%0.7%0.7%1.5%5.0%1.0%
Op Mgn LTM-3.8%9.6%15.2%6.2%11.5%19.1%10.6%
Op Mgn 3Y Avg-0.7%13.0%16.6%5.7%14.5%21.6%13.8%
QoQ Delta Op Mgn LTM0.9%-0.8%-0.3%-0.5%-1.6%-1.9%-0.7%
CFO/Rev LTM1.0%12.8%11.0%8.8%9.5%19.0%10.3%
CFO/Rev 3Y Avg3.0%15.4%14.8%7.5%12.1%19.8%13.4%
FCF/Rev LTM-6.4%6.6%7.2%6.3%6.1%14.0%6.5%
FCF/Rev 3Y Avg-4.3%8.7%9.3%5.0%8.7%13.9%8.7%

Valuation

DNUTSBUXSJMFLOMDLZHSYMedian
NameKrispy K.StarbucksJM Smuck.Flowers .Mondelez.Hershey  
Mkt Cap0.796.110.62.370.637.524.0
P/S0.52.61.20.41.93.31.5
P/EBIT-1.531.5-14.97.116.619.611.8
P/E-1.451.8-8.911.820.024.515.9
P/CFO45.520.310.95.119.717.518.6
Total Yield-67.9%4.8%-6.9%17.5%8.5%7.0%5.9%
Dividend Yield2.5%2.9%4.3%9.0%3.5%2.9%3.2%
FCF Yield 3Y Avg-7.0%3.0%6.4%7.0%3.4%3.9%3.7%
D/E2.00.30.70.90.30.20.5
Net D/E1.90.20.70.90.30.10.5

Returns

DNUTSBUXSJMFLOMDLZHSYMedian
NameKrispy K.StarbucksJM Smuck.Flowers .Mondelez.Hershey  
1M Rtn6.5%-1.6%-1.2%3.3%-3.4%-1.0%-1.1%
3M Rtn30.1%1.6%-7.1%-12.8%-12.0%0.5%-3.3%
6M Rtn58.8%-6.6%5.3%-29.4%-18.2%12.4%-0.7%
12M Rtn-55.7%-3.4%-7.4%-43.3%-6.2%11.9%-6.8%
3Y Rtn-58.2%-7.5%-30.8%-56.9%-12.1%-15.6%-23.2%
1M Excs Rtn13.4%-1.9%-8.2%3.6%-6.2%-3.9%-2.9%
3M Excs Rtn25.1%-3.3%-12.0%-17.8%-16.9%-4.4%-8.2%
6M Excs Rtn45.9%-19.5%-7.6%-42.3%-31.0%-0.5%-13.6%
12M Excs Rtn-71.5%-18.2%-22.9%-60.0%-22.1%-4.8%-22.5%
3Y Excs Rtn-142.2%-89.1%-110.7%-137.5%-91.8%-96.8%-103.8%

Financials

Segment Financials

Revenue by Segment
$ Mil2024202320222021
US1,1051,010  
International490366333230
Market Development92154123109
U.S. and Canada  928783
Total1,6861,5301,3841,122


Price Behavior

Price Behavior
Market Price$4.24 
Market Cap ($ Bil)0.7 
First Trading Date07/01/2021 
Distance from 52W High-56.8% 
   50 Days200 Days
DMA Price$4.03$3.75
DMA Trenddownup
Distance from DMA5.3%13.0%
 3M1YR
Volatility69.7%79.7%
Downside Capture-33.04169.11
Upside Capture97.5063.55
Correlation (SPY)25.1%27.2%
DNUT Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta1.771.331.712.081.070.94
Up Beta1.192.933.291.411.051.14
Down Beta3.423.673.052.700.790.94
Up Capture289%20%97%268%53%18%
Bmk +ve Days12253873141426
Stock +ve Days10202955103340
Down Capture100%-23%38%171%137%104%
Bmk -ve Days7162452107323
Stock -ve Days9213367139398

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
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Based On 5-Year Data
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Based On 10-Year Data
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Short Interest

Short Interest: As Of Date12152025
Short Interest: Shares Quantity25,688,539
Short Interest: % Change Since 11302025-3.5%
Average Daily Volume3,146,104
Days-to-Cover Short Interest8.17
Basic Shares Quantity171,164,000
Short % of Basic Shares15.0%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/6/20253.7%6.9%15.1%
8/7/2025-7.0%-0.6%-1.2%
5/8/2025-24.7%-29.1%-32.6%
2/25/2025-21.9%-33.1%-40.6%
11/7/2024-4.5%-12.4%-17.6%
8/8/202413.5%12.2%25.3%
5/9/20241.8%-7.0%-16.4%
2/13/2024-4.8%-4.7%-13.4%
...
SUMMARY STATS   
# Positive999
# Negative999
Median Positive3.7%10.2%14.8%
Median Negative-7.0%-8.0%-15.4%
Max Positive13.5%20.8%25.3%
Max Negative-24.7%-33.1%-40.6%

SEC Filings

Expand for More
Report DateFiling DateFiling
93020251106202510-Q 9/28/2025
6302025808202510-Q 6/29/2025
3312025508202510-Q 3/30/2025
12312024227202510-K 12/29/2024
93020241108202410-Q 9/29/2024
6302024808202410-Q 6/30/2024
3312024509202410-Q 3/31/2024
12312023227202410-K 12/31/2023
93020231113202310-Q 10/1/2023
6302023810202310-Q 7/2/2023
3312023511202310-Q 4/2/2023
12312022302202310-K 1/1/2023
93020221115202210-Q 10/2/2022
6302022817202210-Q 7/3/2022
3312022511202210-Q 4/3/2022
12312021311202210-K 1/2/2022