Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the five-year period Kroger’s total assets grew modestly from $48,662m in 2021 to $52,616m in 2025 (≈ +8.2%, +$3,954m), with steady annual increases and a more pronounced rise in 2025. Total liabilities rose from $39,112m to $44,335m (+13.4%, +$5,223m). Leverage was relatively stable through 2021–2023 (liabilities ≈80% of assets), dipped in 2024 (≈77% of assets) and then climbed sharply in 2025 to about 84.3% of assets. The net effect is higher absolute indebtedness and a thinner cushion of equity by 2025. Stockholders’ equity shows notable volatility: it was roughly stable near $9–10bn through 2021–2023, jumped to $11,615m in 2024 (+15.7% year-over-year), then fell sharply to $8,285m in 2025 (−28.7% versus 2024 and −13.4% versus 2021). As a result the equity-to-assets ratio declined from ~19.7% in 2021 to ~15.7% in 2025. Such swings could reflect one-time items (asset impairments or revaluations), operational losses, large dividend/repurchase programs, or capital transactions; given grocery retail’s asset-heavy, low-margin profile, rising liabilities and a falling equity ratio in 2025 increase financial risk and reduce flexibility. It would be important to review the 2024–2025 notes (cash flow, financing, M&A, share activity, and impairment/dividend entries) to pinpoint the drivers.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.