Karat Packaging (KRT)
Market Price (11/9/2026): $36.44 | Market Cap: $726.3 MilSector: Materials | Industry: Metal, Glass & Plastic Containers
Karat Packaging (KRT)
Market Price (11/9/2026): $36.44Market Cap: $726.3 MilSector: MaterialsIndustry: Metal, Glass & Plastic Containers
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 4.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.9%, FCF Yield is 9.2% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% Megatrend and thematic driversMegatrends include Sustainable Consumption, Vegan & Alternative Foods, and Circular Economy & Recycling. Themes include Eco-friendly Products, Show more. | Key risksKRT key risks include [1] margin pressure from its heavy reliance on tariff-exposed imports, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 4.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.9%, FCF Yield is 9.2% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Megatrend and thematic driversMegatrends include Sustainable Consumption, Vegan & Alternative Foods, and Circular Economy & Recycling. Themes include Eco-friendly Products, Show more. |
| Key risksKRT key risks include [1] margin pressure from its heavy reliance on tariff-exposed imports, Show more. |
Qualitative Assessment
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Karat Packaging (KRT) stock has lost about 15% since 7/31/2026 because of the following key factors:
1. Significant Earnings Per Share Miss in Fiscal Q3 2026. Karat Packaging reported adjusted earnings per share (EPS) of $0.24 for fiscal Q3 2026, which ended September 30, 2026. This figure notably missed analysts' consensus estimates of $0.41 by $0.17, representing a 41.5% shortfall.
2. Revenue Falls Short of Expectations in Fiscal Q3 2026. The company's revenue for fiscal Q3 2026 was reported at $134.74 million, missing analyst estimates of $140.33 million. This represents a miss of approximately $5.59 million, or 4%.
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Karat Packaging (KRT) stock has lost about 15% since 7/31/2026 because of the following key factors:
1. Significant Earnings Per Share Miss in Fiscal Q3 2026. Karat Packaging reported adjusted earnings per share (EPS) of $0.24 for fiscal Q3 2026, which ended September 30, 2026. This figure notably missed analysts' consensus estimates of $0.41 by $0.17, representing a 41.5% shortfall.
2. Revenue Falls Short of Expectations in Fiscal Q3 2026. The company's revenue for fiscal Q3 2026 was reported at $134.74 million, missing analyst estimates of $140.33 million. This represents a miss of approximately $5.59 million, or 4%.
3. Gross Margin Contraction Due to Elevated Costs. Karat Packaging experienced a contraction in its gross margin during fiscal Q3 2026, which declined to 33.5% from 34.5% in the prior-year quarter. This decrease was primarily driven by higher product costs, including increased resin prices, and elevated import expenses, with ocean freight costs rising by 17% in average container rates. Consequently, operating income decreased to $4.9 million in fiscal Q3 2026, compared to $8.6 million in the prior-year quarter.
4. Disappointing Fourth Quarter and Full-Year 2026 Guidance. The company provided a weakened outlook, with its full-year 2026 revenue guidance set between $509.8 million and $519.2 million, falling below the consensus estimate of $524.7 million. Furthermore, Karat Packaging projected fiscal Q4 2026 net sales of $127.2 million at the midpoint, which is 3.2% below analysts' consensus estimates of $131.4 million. The guidance also indicated lower anticipated margins for Q4 2026, with gross margin expected between 33% and 35%, and adjusted EBITDA margin in the high single digits.
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Stock Movement Drivers
Fundamental Drivers
The -15.8% change in KRT stock from 7/31/2026 to 11/8/2026 was primarily driven by a -43.4% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 39.84 | 33.54 | -15.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 481 | 504 | 4.7% |
| Net Income Margin (%) | 6.6% | 9.4% | 42.0% |
| P/E Multiple | 25.0 | 14.2 | -43.4% |
| Shares Outstanding (Mil) | 20 | 20 | 0.0% |
| Cumulative Contribution | -15.8% |
Market Drivers
7/31/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| KRT | -15.8% | |
| Market (SPY) | -1.6% | 11.2% |
| Sector (XLB) | 3.0% | 26.3% |
Fundamental Drivers
The 20.0% change in KRT stock from 4/30/2026 to 11/8/2026 was primarily driven by a 39.5% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.94 | 33.54 | 20.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 468 | 504 | 7.7% |
| Net Income Margin (%) | 6.7% | 9.4% | 39.5% |
| P/E Multiple | 17.8 | 14.2 | -20.4% |
| Shares Outstanding (Mil) | 20 | 20 | 0.4% |
| Cumulative Contribution | 20.0% |
Market Drivers
4/30/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| KRT | 20.0% | |
| Market (SPY) | 2.6% | 10.3% |
| Sector (XLB) | 1.3% | 18.7% |
Fundamental Drivers
The 49.1% change in KRT stock from 10/31/2025 to 11/8/2026 was primarily driven by a 29.5% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.49 | 33.54 | 49.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 442 | 504 | 13.9% |
| Net Income Margin (%) | 7.3% | 9.4% | 29.5% |
| P/E Multiple | 14.1 | 14.2 | 0.6% |
| Shares Outstanding (Mil) | 20 | 20 | 0.5% |
| Cumulative Contribution | 49.1% |
Market Drivers
10/31/2025 to 11/8/2026| Return | Correlation | |
|---|---|---|
| KRT | 49.1% | |
| Market (SPY) | 8.7% | 15.4% |
| Sector (XLB) | 22.9% | 22.3% |
Fundamental Drivers
The 94.3% change in KRT stock from 10/31/2023 to 11/8/2026 was primarily driven by a 26.8% change in the company's Net Income Margin (%).| (LTM values as of) | 10312023 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.26 | 33.54 | 94.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 407 | 504 | 23.7% |
| Net Income Margin (%) | 7.4% | 9.4% | 26.8% |
| P/E Multiple | 11.4 | 14.2 | 24.3% |
| Shares Outstanding (Mil) | 20 | 20 | -0.4% |
| Cumulative Contribution | 94.3% |
Market Drivers
10/31/2023 to 11/8/2026| Return | Correlation | |
|---|---|---|
| KRT | 94.3% | |
| Market (SPY) | 81.9% | 29.1% |
| Sector (XLB) | 44.0% | 32.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| KRT Return | 9% | -27% | 82% | 29% | -20% | 55% | 131% |
| Peers Return | 12% | 8% | 5% | 9% | -9% | 8% | 35% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| KRT Win Rate | 56% | 42% | 75% | 58% | 25% | 82% | |
| Peers Win Rate | 60% | 47% | 45% | 55% | 47% | 53% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| KRT Max Drawdown | - | -35% | -27% | -21% | -34% | -39% | |
| Peers Max Drawdown | -16% | -22% | -22% | -16% | -27% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GPK, AMCR, SON, PKG, GEF.
[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] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | KRT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.8% | -18.8% |
| % Gain to Breakeven | 33.0% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -12.9% | -7.8% |
| % Gain to Breakeven | 14.8% | 8.5% |
| Time to Breakeven | 68 days | 18 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -18.5% | -6.7% |
| % Gain to Breakeven | 22.7% | 7.1% |
| Time to Breakeven | 46 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.6% | -24.5% |
| % Gain to Breakeven | 46.2% | 32.4% |
| Time to Breakeven | 263 days | 427 days |
In The Past
Karat Packaging's stock fell -24.8% during the 2025 US Tariff Shock. Such a loss loss requires a 33.0% gain to breakeven.
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| Event | KRT | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -24.8% | -18.8% |
| % Gain to Breakeven | 33.0% | 23.1% |
| Time to Breakeven | 38 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -31.6% | -24.5% |
| % Gain to Breakeven | 46.2% | 32.4% |
| Time to Breakeven | 263 days | 427 days |
In The Past
Karat Packaging's stock fell -24.8% during the 2025 US Tariff Shock. Such a loss loss requires a 33.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Karat Packaging (KRT)
Karat Packaging Inc. (KRT) is a manufacturer and distributor primarily focused on single-use disposable products for the restaurant and foodservice industries. The company offers a wide range of disposables made from various materials, including traditional plastic, paper, and increasingly popular biopolymer-based and other compostable forms, catering to diverse environmental preferences and regulatory requirements.
Its comprehensive product catalog includes essential items like food and take-out containers, bags, tableware, cups, lids, cutlery, and straws. Beyond these disposables, Karat Packaging also supplies specialty beverage ingredients, equipment, and gloves, with some eco-friendly offerings marketed under its Karat Earth brand. The company extends its value proposition by providing services such as new product development, design, printing, and logistics to its clients.
Karat Packaging serves a broad customer base, including domestic and regional distributors, large restaurant chains, various retail establishments, and online customers. This diverse market approach positions KRT as a key supplier for businesses within the foodservice sector seeking a one-stop solution for their packaging and disposable product needs.
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Like a smaller Pactiv Evergreen, specializing in single-use foodservice disposables and packaging.
Imagine an Office Depot or Staples, but exclusively for all the disposable cups, containers, and cutlery that restaurants use.
Think of it as the B2B version of Dixie or Solo Cup, providing a comprehensive range of disposable packaging, cups, and cutlery for restaurants.
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- Food and Take-Out Containers: Disposable containers used for packaging and transporting food items in foodservice settings.
- Bags: Disposable bags for various uses in restaurants and retail.
- Tableware: Disposable plates, bowls, and other dining accessories.
- Cups and Lids: Disposable beverage cups along with their corresponding lids.
- Cutlery and Straws: Disposable forks, knives, spoons, and drinking straws.
- Specialty Beverage Ingredients: Components used to prepare specific beverages.
- Equipment: Various pieces of equipment related to foodservice operations.
- Gloves: Disposable gloves for hygiene and food handling.
- New Product Development Services: Services focused on creating and introducing new disposable product lines.
- Design and Printing Services: Custom design and printing solutions for packaging and products.
- Logistics Services: Management of the distribution and supply chain for products.
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- Domestic and regional distributors
- Restaurant chains
- Retail establishments
- Online customers (generally other businesses in the foodservice or hospitality sector)
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Alan Yu, Chairman and Chief Executive Officer
Alan Yu co-founded Karat Packaging Inc. (initially Lollicup USA Inc.) in 2000. He began the business as a bubble tea cafe in San Gabriel, California, before strategically shifting to become a supplier for the foodservice industry. He also served as the Chief Executive Officer and President of Lollicup USA, Inc. Yu is a significant shareholder, contributing to the company's high insider ownership.
Jian Guo, Director, Chief Financial Officer, and Principal Accounting Officer
Jian Guo possesses over 18 years of progressive accounting and finance experience. She demonstrated confidence in the company by purchasing shares in November 2025.
Marvin Cheng, Vice President of Manufacturing and Secretary
Marvin Cheng co-founded Karat Packaging (originally Lollicup USA Inc.) in 2000 with Alan Yu. He is recognized as one of the largest individual shareholders within the company. Cheng brings two decades of experience in managing supply chains and overseeing manufacturing operations.
Daniel Quire, Chief Revenue Officer
Daniel Quire is focused on expanding sales in the Eastern U.S. He has over a decade of sales management experience specifically within the food service industry.
Joanne Wang, Chief Operations Officer
Joanne Wang has held positions at Bigzoo.Com, Alaska Premium Beverage and Bottling, and Lollicup USA Inc. Her previous roles include Vice President of Sales & Operations at Pincity.Com and Premiere Telemedia.
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The key risks to Karat Packaging's business (symbol: KRT) are:
- Trade Volatility, Tariffs, and Increased Import Costs: Karat Packaging faces significant and immediate risks from ongoing trade volatility, higher tariff and duty costs, and shifts in U.S. trade policy. These factors directly increase the company's cost of goods sold (COGS) and have materially impacted its gross margins. The company's heavy reliance on global sourcing makes it particularly vulnerable to these external pressures. For example, in the third quarter of 2025 alone, increased import costs due to higher duties and tariffs rose by an estimated $8.2 million compared to the prior-year quarter, leading to a decline in gross margin from 39.2% to 34.0%.
- Highly Competitive Market and Pricing Pressure: The foodservice packaging industry is fragmented and highly competitive, making it challenging for Karat Packaging to sustain price increases and maintain pricing power. This intense competition can lead to rivals undercutting prices, which can force Karat Packaging to absorb increased costs, such as tariffs, directly impacting its bottom line. The California market, in particular, has been cited as experiencing a "slowdown" with restaurant closures and a "very competitive environment".
- Supply Chain Disruptions and Cost Fluctuations: Beyond tariffs, Karat Packaging is exposed to risks from general global supply chain disruptions, fluctuating energy and logistics costs, and currency fluctuations, particularly involving the New Taiwan Dollar. These factors can materially impact the company's costs and earnings. Additionally, weather disruptions, such as those experienced in Texas and the East Coast, have temporarily impacted sales and operations.
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Increasing governmental regulations and consumer shifts towards reusable packaging systems and outright bans on single-use items (even those made from paper or biopolymer-based compostable materials), driven by environmental sustainability initiatives, posing a fundamental threat to the demand for all disposable products.
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Karat Packaging (NASDAQ: KRT) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Expansion of Eco-Friendly Product Lines and Paper Bag Business: Karat Packaging is strategically focused on significantly increasing its eco-friendly product sales, particularly through the expansion of its Karat Earth® line and the paper bag category. This includes adding new SKUs and securing contracts with major national chains, with eco-friendly product sales growing to 37.3% of total revenue in Q4 2025, up from 34.5% in the same quarter of 2024. The paper bag category specifically saw growth from $7.9 million in 2024 to $13.7 million in 2025.
- Volume Growth and Market Share Gains: The company anticipates revenue growth driven by increased sales volume. In Q4 2024, sales volume rose by 13.9% year-over-year, and in Q4 2025, net sales increased by 13.7% due to volume and favorable pricing. Management explicitly stated that 2026 guidance assumes most growth will come from market share gains, particularly in expanded product categories and by leveraging global sourcing flexibility.
- Growth in Chain Accounts and Distributor Sales: Sales to chain accounts and distributors represent Karat Packaging's largest sales channel and showed a 17.5% increase in the Q4 2025. Continued growth in this area is a key driver, supported by ongoing efforts to add new customer accounts and expand existing relationships.
- Favorable Pricing and Product Mix: Pricing contributed positively to revenue growth in Q4 2025 for the first time since early 2023. This favorable pricing, combined with an optimized product mix, is expected to continue supporting revenue expansion.
- Strategic Operational Expansions and Supply Chain Resilience: Karat Packaging plans significant operational expansions, including a new distribution center. The company is also prioritizing strengthening its supply chain resilience through diversifying its sourcing, with its import mix in Q4 2025 including 46% from Taiwan, 14% from China, 13% from the United States, and 11% each from Vietnam and Malaysia. Additionally, the company is actively evaluating strategic acquisitions to broaden its infrastructure, product offerings, expertise, and supply chain diversity, particularly within the U.S.
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Share Repurchases
- Karat Packaging authorized its first share repurchase program of up to $15 million on November 5, 2025.
- During the fourth quarter of 2025, the company repurchased 137,374 shares for a total of $3.0 million.
- As of March 11, 2026, approximately $12.0 million remained available under the authorized repurchase program.
Share Issuance
- In June 2025, a secondary offering of 1.50 million shares was made by certain members of the company's management team at a price of $27.00 per share; Karat Packaging Inc. did not receive any proceeds from this sale.
Capital Expenditures
- Capital expenditures in Q3 2025 were $246K, representing a 47.3% increase from the prior quarter.
- Purchases of property, plant, and equipment totaled $2.5 million in Q4 2025, an increase of 229.1% year-over-year.
- Capital expenditures have supported an expanded U.S. distribution footprint, including new warehouses in Chino, California, and Mesa, Arizona, and the relocation of headquarters to Rockwall, Texas.
Peer Outperformance in Metal, Glass & Plastic Containers
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Copper | 7 | 31.6% | 115.9% | 133.4% | SCCO 236% · TGB 208% · HBM 191% |
| Steel | 14 | 14.3% | 39.2% | 108.4% | HCC 311% · STLD 259% · RS 174% |
| Gold | 38 | 17.5% | 190.2% | 102.1% | IAG 509% · OGC 372% · AGI 313% |
| Silver | 6 | 37.5% | 293.2% | 82.3% | AYA 284% · HL 149% · EXK 47% |
| Construction Materials | 6 | -14.7% | 16.8% | 34.3% | USLM 338% · CRH 104% · VMC 43% |
| Aluminum | 3 | 6.8% | 110.3% | 16.5% | CENX 142% · AA -15% |
| Metal, Glass & Plastic Containers ← | 11 | 16.9% | 21.4% | 8.0% | GEF 24% · ATR 16% · SLGN 9% |
| Paper & Plastic Packaging Products & Materials | 7 | 19.6% | 17.6% | -5.6% | PKG 115% · CCK 21% · SON 1% |
| Diversified Metals & Mining | 23 | -52.8% | -2.8% | -7.6% | SKE 179% · MTRN 105% · MP -15% |
| Diversified Chemicals | 3 | 18.4% | 4.4% | -14.4% | CBT 34% · ASH -14% |
| Specialty Chemicals | 42 | 11.0% | 10.0% | -21.3% | PRM 146% · NEU 128% · ECL 38% |
| Commodity Chemicals | 13 | 18.3% | -22.8% | -31.0% | HWKN 318% · MEOH 53% · DOW -30% |
| Precious Metals & Minerals | 7 | -0.9% | 137.5% | -31.4% | PPTA 309% |
| Fertilizers & Agricultural Chemicals | 10 | 5.2% | 10.4% | -42.8% | CF 112% · CTVA 80% · NTR 23% |
| Paper Products | 4 | -40.8% | -62.4% | -81.3% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Karat Packaging Earnings Notes | 12/16/2025 | |
| Is Karat Packaging Stock Built to Withstand a Pullback? | 10/17/2025 | |
| Karat Packaging (KRT) Operating Cash Flow Comparison | 02/17/2025 | |
| Karat Packaging (KRT) Net Income Comparison | 02/15/2025 | |
| Karat Packaging (KRT) Operating Income Comparison | 02/15/2025 | |
| Karat Packaging (KRT) Revenue Comparison | 02/13/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
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Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 47.72 |
| Mkt Cap | 4.6 |
| Rev LTM | 8,005 |
| Op Inc LTM | 579 |
| FCF LTM | 383 |
| FCF 3Y Avg | 277 |
| CFO LTM | 723 |
| CFO 3Y Avg | 738 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.3% |
| Rev Chg 3Y Avg | 7.8% |
| Rev Chg Q | 3.4% |
| QoQ Delta Rev Chg LTM | 0.8% |
| Op Inc Chg LTM | 4.2% |
| Op Inc Chg 3Y Avg | 9.0% |
| Op Mgn LTM | 9.2% |
| Op Mgn 3Y Avg | 9.5% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 9.0% |
| CFO/Rev 3Y Avg | 9.8% |
| FCF/Rev LTM | 4.8% |
| FCF/Rev 3Y Avg | 5.4% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Manufacturing and distribution of a diverse range of single-use food and beverage service products | 468 | 423 | 406 | 423 | 364 |
| Total | 468 | 423 | 406 | 423 | 364 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Manufacturing and distribution of a diverse range of single-use food and beverage service products | 33 | 31 | 33 |
| Total | 33 | 31 | 33 |
Price Behavior
| Market Price | $33.54 | |
| Market Cap ($ Bil) | 0.7 | |
| First Trading Date | 04/15/2021 | |
| Distance from 52W High | -38.7% | |
| 50 Days | 200 Days | |
| DMA Price | $51.53 | $35.91 |
| DMA Trend | up | up |
| Distance from DMA | -34.9% | -6.6% |
| 3M | 1YR | |
| Volatility | 75.2% | 51.8% |
| Downside Capture | 7.13 | 0.13 |
| Upside Capture | -202.68 | 40.86 |
| Correlation (S&P 500) | 8.0% | 15.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.87 | 0.46 | 0.66 | 0.39 | 0.58 | 0.82 |
| Up Beta | 1.64 | 0.83 | 0.73 | 0.28 | 0.64 | 0.68 |
| Down Beta | 0.56 | 1.04 | 1.25 | 0.79 | 1.07 | 0.99 |
| Up Capture | 128% | 70% | 122% | 105% | 88% | 89% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 11 | 22 | 36 | 77 | 140 | 407 |
| Down Capture | 72% | -37% | -61% | -85% | -24% | 88% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 11 | 21 | 28 | 48 | 110 | 338 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KRT | |
|---|---|---|---|---|
| KRT | 41.4% | 51.8% | 0.87 | - |
| Sector ETF (XLB) | 23.7% | 18.2% | 1.01 | 22.1% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 15.2% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 6.8% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -16.7% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 18.6% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 8.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KRT | |
|---|---|---|---|---|
| KRT | 13.6% | 46.0% | 0.43 | - |
| Sector ETF (XLB) | 6.1% | 19.2% | 0.20 | 28.9% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 29.5% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | 5.2% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | -0.8% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 26.8% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 12.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with KRT | |
|---|---|---|---|---|
| KRT | 8.7% | 47.0% | 0.49 | - |
| Sector ETF (XLB) | 10.5% | 20.7% | 0.44 | 26.7% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 28.0% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 5.2% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 0.3% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 25.1% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 10.3% |
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Returns Analyses
Earnings Returns History
Updated 11/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2026 | -34.8% | ||
| 8/6/2026 | 11.1% | 12.9% | 15.3% |
| 5/7/2026 | -7.7% | -13.7% | -3.0% |
| 3/12/2026 | 20.7% | 23.0% | 32.2% |
| 11/6/2025 | -6.3% | -7.0% | -6.4% |
| 8/7/2025 | -6.3% | -4.9% | -3.8% |
| 5/8/2025 | 10.7% | 11.6% | 16.3% |
| 3/13/2025 | -2.1% | 0.4% | -14.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 13 | 11 |
| # Negative | 13 | 9 | 11 |
| Median Positive | 5.7% | 7.2% | 12.3% |
| Median Negative | -7.7% | -7.0% | -5.7% |
| Max Positive | 20.7% | 23.0% | 32.2% |
| Max Negative | -34.8% | -13.7% | -14.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/5/2026 | -34.8% | ||
| 8/6/2026 | 11.1% | 12.9% | 15.3% |
| 5/7/2026 | -7.7% | -13.7% | -3.0% |
| 3/12/2026 | 20.7% | 23.0% | 32.2% |
| 11/6/2025 | -6.3% | -7.0% | -6.4% |
| 8/7/2025 | -6.3% | -4.9% | -3.8% |
| 5/8/2025 | 10.7% | 11.6% | 16.3% |
| 3/13/2025 | -2.1% | 0.4% | -14.7% |
| 11/7/2024 | 0.9% | 3.2% | 8.8% |
| 8/8/2024 | -14.8% | -8.0% | -11.5% |
| 5/9/2024 | -7.7% | 0.4% | -2.1% |
| 3/14/2024 | -10.3% | 0.6% | -5.7% |
| 11/9/2023 | -14.2% | -3.8% | 1.1% |
| 8/9/2023 | 3.0% | 18.6% | 2.1% |
| 5/10/2023 | 4.1% | 5.6% | 15.7% |
| 3/16/2023 | -4.1% | -10.8% | -9.3% |
| 11/10/2022 | -10.9% | -13.6% | -10.2% |
| 8/11/2022 | 2.8% | 2.7% | 1.9% |
| 5/12/2022 | 13.6% | 11.1% | 12.3% |
| 3/24/2022 | 6.9% | 13.9% | 13.4% |
| 11/12/2021 | -1.1% | -1.1% | -2.5% |
| 8/12/2021 | -2.6% | -6.2% | -4.9% |
| 5/28/2021 | 4.5% | 7.2% | 3.6% |
| SUMMARY STATS | |||
| # Positive | 10 | 13 | 11 |
| # Negative | 13 | 9 | 11 |
| Median Positive | 5.7% | 7.2% | 12.3% |
| Median Negative | -7.7% | -7.0% | -5.7% |
| Max Positive | 20.7% | 23.0% | 32.2% |
| Max Negative | -34.8% | -13.7% | -14.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/06/2026 | 10-Q |
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 03/15/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/06/2026 | 10-Q |
| 06/30/2026 | 08/07/2026 | 10-Q |
| 03/31/2026 | 05/08/2026 | 10-Q |
| 12/31/2025 | 03/13/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 03/14/2025 | 10-K |
| 09/30/2024 | 11/08/2024 | 10-Q |
| 06/30/2024 | 08/09/2024 | 10-Q |
| 03/31/2024 | 05/10/2024 | 10-Q |
| 12/31/2023 | 03/15/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/16/2023 | 10-K |
| 09/30/2022 | 11/14/2022 | 10-Q |
| 06/30/2022 | 08/11/2022 | 10-Q |
| 03/31/2022 | 05/12/2022 | 10-Q |
| 12/31/2021 | 03/31/2022 | 10-K |
| 09/30/2021 | 11/12/2021 | 10-Q |
| 06/30/2021 | 08/13/2021 | 10-Q |
| 03/31/2021 | 05/28/2021 | 10-Q |
| 12/31/2020 | 04/16/2021 | 424B4 |
| 09/30/2020 | 02/18/2021 | S-1 |
| 06/30/2019 | 09/17/2019 | S-1 |
Recent Forward Guidance
Updated 11/6/2026Latest: Q3 2026 Earnings Reported 11/5/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Quarterly Dividend Per Share | Reported | 0.47 | ||||||
| Q4 2026 Net Sales Growth | Reported | 9.0% | 10.0% | 11.0% | ||||
| Q4 2026 Gross Margin | Reported | 33.0% | 34.0% | 35.0% | -2.0% | Lower New | Guidance: 36.0% for Q3 2026 | |
| Q4 2026 Adjusted EBITDA Margin | Reported | |||||||
| 2026 Net Sales Growth | Reported | 9.0% | 10.0% | 11.0% | ||||
| 2026 Gross Margin | Reported | 39.0% | 40.0% | 41.0% | -2.0% | Lowered | Guidance: 42.0% for 2026 | |
| 2026 Adjusted EBITDA Margin | Reported | 15.0% | 0.0% | Affirmed | Guidance: 15.0% for 2026 | |||
Prior: Q2 2026 Earnings Reported 8/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Gross Margin | Reported | 35.0% | 36.0% | 37.0% | 0.0% | Same New | Actual: 36.0% for Q2 2026 | |
| Q3 2026 Adjusted EBITDA Margin | Reported | 9.0% | 10.0% | 11.0% | -2.0% | Lower New | Actual: 12.0% for Q2 2026 | |
| 2026 Gross Margin | Reported | 42.0% | 7.0% | Raised | Guidance: 35.0% for 2026 | |||
| 2026 Adjusted EBITDA Margin | Reported | 15.0% | 3.0% | Raised | Guidance: 12.0% for 2026 | |||
Q1 2026 Earnings Reported 5/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Net Sales Growth | Reported | 8.0% | 9.0% | 10.0% | 0.0% | Same New | Guidance: 9.0% for Q1 2026 | |
| Q2 2026 Gross Margin | Reported | 35.0% | 36.0% | 37.0% | 1.0% | Higher New | Guidance: 35.0% for Q1 2026 | |
| Q2 2026 Adjusted EBITDA Margin | Reported | 11.0% | 12.0% | 13.0% | 2.0% | Higher New | Guidance: 10.0% for Q1 2026 | |
| 2026 Net Sales Growth | Reported | 10.0% | 11.5% | 13.0% | 4.5% | 0.5% | Raised | Guidance: 11.0% for 2026 |
| 2026 Gross Margin | Reported | 34.0% | 35.0% | 36.0% | ||||
| 2026 Adjusted EBITDA Margin | Reported | 11.0% | 12.0% | 13.0% | ||||
Q4 2025 Earnings Reported 3/12/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Net Sales Growth | Reported | 8.0% | 9.0% | 10.0% | -3.0% | Lower New | Guidance: 12.0% for Q4 2025 | |
| Q1 2026 Gross Margin | Reported | 34.0% | 35.0% | 36.0% | 1.0% | Higher New | Guidance: 34.0% for Q4 2025 | |
| Q1 2026 Adjusted EBITDA Margin | Reported | 9.0% | 10.0% | 11.0% | 1.0% | Higher New | Guidance: 9.0% for Q4 2025 | |
| 2026 Net Sales Growth | Reported | 11.0% | ||||||
Insider Activity
Updated 11/9/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Guo, Jian | Chief Financial Officer | reporting person as UTMA Custodian for child | Buy | 11092026 | 37.06 | 162 | 6,004 | 6,004 | Form |
| 2 | Cheng, Marvin | VP-Manufacturing, Secy | Direct | Sell | 9082026 | 48.50 | 2,000 | 97,000 | 254,589,692 | Form |
| 3 | Cheng, Marvin | VP-Manufacturing, Secy | Direct | Sell | 9082026 | 48.38 | 4,000 | 193,500 | 254,030,283 | Form |
| 4 | Cheng, Marvin | VP-Manufacturing, Secy | Direct | Sell | 9022026 | 47.75 | 2,000 | 95,500 | 250,939,238 | Form |
| 5 | Cheng, Marvin | VP-Manufacturing, Secy | Spouse | Sell | 8212026 | 47.33 | 4,500 | 212,985 | 141,990 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Guo, Jian | Chief Financial Officer | reporting person as UTMA Custodian for child | Buy | 11092026 | 37.06 | 162 | 6,004 | 6,004 | Form |
| 2 | Cheng, Marvin | VP-Manufacturing, Secy | Direct | Sell | 9082026 | 48.50 | 2,000 | 97,000 | 254,589,692 | Form |
| 3 | Cheng, Marvin | VP-Manufacturing, Secy | Direct | Sell | 9082026 | 48.38 | 4,000 | 193,500 | 254,030,283 | Form |
| 4 | Cheng, Marvin | VP-Manufacturing, Secy | Direct | Sell | 9022026 | 47.75 | 2,000 | 95,500 | 250,939,238 | Form |
| 5 | Cheng, Marvin | VP-Manufacturing, Secy | Spouse | Sell | 8212026 | 47.33 | 4,500 | 212,985 | 141,990 | Form |
| 6 | Guo, Jian | Chief Financial Officer | Direct | Buy | 11142025 | 22.11 | 1,361 | 30,092 | 686,781 | Form |
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