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Stocks · Materials · Plastics Products, NEC

Karat Packaging Inc.

KRT Clue Score67
United States Fiscal year ends December CIK 0001758021
$54.49 -0.16% Close, 12 Oct 2026
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Price $54.49 +171.09% Close, 12 Oct 2026

Closing prices at the end of each trading day, from 15 Apr 2021. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2020Revenue295.5Operating income27.7Net income17.5EPS, diluted1.13Fiscal year 2021Revenue364.2 +23.3%Operating income23.1Net income20.8 +18.6%EPS, diluted1.12 −0.9%Fiscal year 2022Revenue423.0 +16.1%Operating income30.0Net income23.6 +13.8%EPS, diluted1.19 +6.2%Fiscal year 2023Revenue405.7 −4.1%Operating income42.1Net income32.5 +37.3%EPS, diluted1.63 +37.0%Fiscal year 2024Revenue422.6 +4.2%Operating income37.8Net income30.0 −7.7%EPS, diluted1.49 −8.6%Fiscal year 2025Revenue467.7 +10.7%Operating income41.4Net income31.5 +5.0%EPS, diluted1.56 +4.7%
FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 295.5 364.2 423.0 405.7 422.6 467.7
Growth +23.3% +16.1% −4.1% +4.2% +10.7%
Operating income 27.7 23.1 30.0 42.1 37.8 41.4
Net income 17.5 20.8 23.6 32.5 30.0 31.5
Growth +18.6% +13.8% +37.3% −7.7% +5.0%
EPS, diluted 1.13 1.12 1.19 1.63 1.49 1.56
Growth −0.9% +6.2% +37.0% −8.6% +4.7%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2020Gross margin30.2%Operating margin9.4%Net margin5.9%Free cash flow margin−5.1%Fiscal year 2021Gross margin29.6%Operating margin6.4%Net margin5.7%Free cash flow margin1.2%Fiscal year 2022Gross margin31.2%Operating margin7.1%Net margin5.6%Free cash flow margin6.3%Fiscal year 2023Gross margin37.7%Operating margin10.4%Net margin8.0%Free cash flow margin12.5%Fiscal year 2024Gross margin38.9%Operating margin8.9%Net margin7.1%Free cash flow margin11.1%Fiscal year 2025Gross margin36.8%Operating margin8.9%Net margin6.7%Free cash flow margin7.1%
FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 30.2% 29.6% 31.2% 37.7% 38.9% 36.8%
Operating margin 9.4% 6.4% 7.1% 10.4% 8.9% 8.9%
Net margin 5.9% 5.7% 5.6% 8.0% 7.1% 6.7%
Free cash flow margin −5.1% 1.2% 6.3% 12.5% 11.1% 7.1%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2020Operating cash flow14.5Capital expenditure−29.5Free cash flow−15.0Buybacks−0.2Dividends paid−0.6Fiscal year 2021Operating cash flow8.7Capital expenditure−4.2Free cash flow4.5Buybacks0.0Dividends paid0.0Fiscal year 2022Operating cash flow29.5Capital expenditure−2.7Free cash flow26.8 +495.4%Dividends paid−7.0Fiscal year 2023Operating cash flow53.4Capital expenditure−2.8Free cash flow50.5 +88.5%Dividends paid−20.9Fiscal year 2024Operating cash flow48.0Capital expenditure−0.9Free cash flow47.0 −6.9%Buybacks0.0Dividends paid−31.0Fiscal year 2025Operating cash flow33.8Capital expenditure−0.8Free cash flow33.1 −29.7%Buybacks−3.0Dividends paid−36.1
FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 14.5 8.7 29.5 53.4 48.0 33.8
Capital expenditure −29.5 −4.2 −2.7 −2.8 −0.9 −0.8
Free cash flow −15.0 4.5 26.8 50.5 47.0 33.1
Growth +495.4% +88.5% −6.9% −29.7%
Buybacks −0.2 0.0 n/a n/a 0.0 −3.0
Dividends paid −0.6 0.0 −7.0 −20.9 −31.0 −36.1

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2020Cash0.4Total debt11.5Net cash (debt)−11.0Shareholders’ equity32.4Debt to equity0.35Fiscal year 2021Cash6.5Total debt1.4Net cash (debt)5.1Shareholders’ equity122.9Debt to equity0.01Fiscal year 2022Cash16.0Total debt1.2Net cash (debt)14.9Shareholders’ equity141.7Debt to equity0.01Fiscal year 2023Cash23.1Total debt1.3Net cash (debt)21.8Shareholders’ equity154.1Debt to equity0.01Fiscal year 2024Cash31.6Total debt1.2Net cash (debt)30.4Shareholders’ equity155.6Debt to equity0.01Fiscal year 2025Cash37.9Total debt12.9Net cash (debt)24.9Shareholders’ equity149.4Debt to equity0.09
FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.4 6.5 16.0 23.1 31.6 37.9
Total debt 11.5 1.4 1.2 1.3 1.2 12.9
Net cash (debt) −11.0 5.1 14.9 21.8 30.4 24.9
Shareholders’ equity 32.4 122.9 141.7 154.1 155.6 149.4
Debt to equity 0.35 0.01 0.01 0.01 0.01 0.09

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
30.2% 29.6% 31.2% 37.7% 38.9% 36.8%
9.4% 6.4% 7.1% 10.4% 8.9% 8.9%
7.4% 7.6% 7.7% 10.6% 9.6% 9.2%
5.9% 5.7% 5.6% 8.0% 7.1% 6.7%
−5.1% 1.2% 6.3% 12.5% 11.1% 7.1%
Spending
13.3% 14.4% 15.7% 16.5% 16.9% 16.5%
10.0% 1.1% 0.6% 0.7% 0.2% 0.2%
24.0% 18.5% 20.5% 22.8% 24.3% 24.1%
Returns
54.1% 16.9% 16.7% 21.1% 19.3% 21.1%
9.7% 10.0% 9.4% 11.7% 10.2% 10.9%
Balance and payout
0.35 0.01 0.01 0.01 0.01 0.09
78.0% 36.4% 39.8% 41.1% 44.9% 45.5%
3.5% 0.0% 29.4% 64.4% 103.5% 114.7%
n/a 0.0% 26.0% 41.4% 65.9% 118.3%