NMS · Financial Statements

Karat Packaging Inc. (KRT) Financial Statements

$53.00 NMS: KRT Market Cap $1.06B

Karat Packaging Inc. most recently reported annual revenue of $468.0M, net profit of $31.0M. Revenue grew at an average annual rate of 9.6% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Karat Packaging Inc.: Revenue rose from $140.0M in 2017 to $468.0M in 2025, a change of +234.3% over 8 years; net profit was positive in 8 of 9 reported years; operating margin moved from 4.3% to 8.8%, a shift of +4.5 percentage points; the most recent year shows net profit of $31.0M.

Income Statement — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Revenue	$140.0M	$175.0M	$225.0M	$296.0M	$364.0M	$423.0M	$406.0M	$423.0M	$468.0M
Operating Expenses	$134.0M	$173.0M	$219.0M	$268.0M	$341.0M	$393.0M	$364.0M	$385.0M	$427.0M
Operating Profit	$6.0M	$2.0M	$6.0M	$28.0M	$23.0M	$30.0M	$42.0M	$38.0M	$41.0M
Operating Margin	4.3%	1.2%	2.6%	9.4%	6.3%	7.1%	10.4%	8.9%	8.8%
Other Income	$-1.0M	$-1.0M	$-3.0M	$-6.0M	$4.0M	$2.0M	$1.0M	$3.0M	$2.0M
Interest	$1.0M	$1.0M	$5.0M	$5.0M	$3.0M	$2.0M	$2.0M	$2.0M	$2.0M
Depreciation	$3.0M	$4.0M	$6.0M	$9.0M	$10.0M	$14.0M	$16.0M	$18.0M	$21.0M
Profit Before Tax	$5.0M	$2.0M	$3.0M	$22.0M	$28.0M	$33.0M	$43.0M	$41.0M	$43.0M
Tax	$2.1M	$108.0M	$26.5M	$24.0M	$18.5M	$20.5M	$22.8M	$24.3M	$24.1M
Net Profit	$5.0M	$0	$2.0M	$18.0M	$21.0M	$24.0M	$32.0M	$30.0M	$31.0M
EPS	$0.21	$0.00	$0.11	$1.13	$1.12	$1.19	$1.63	$1.49	$1.56
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
Revenue	$106.0M	$96.0M	$96.0M	$113.0M	$113.0M	$102.0M	$104.0M	$124.0M	$125.0M	$116.0M	$117.0M	$136.0M
Operating Expenses	$94.0M	$91.0M	$88.0M	$101.0M	$102.0M	$94.0M	$96.0M	$107.0M	$116.0M	$107.0M	$108.0M	$99.0M
Operating Profit	$11.0M	$5.0M	$8.0M	$11.0M	$11.0M	$7.0M	$8.0M	$17.0M	$9.0M	$9.0M	$8.0M	$38.0M
Operating Margin	10.8%	4.8%	8.4%	9.9%	10.0%	7.2%	7.5%	13.3%	6.9%	7.5%	7.2%	27.6%
Interest	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M	$3.0M	$0	$0	$0
Profit Before Tax	$12.0M	$5.0M	$8.0M	$12.0M	$12.0M	$8.0M	$9.0M	$15.0M	$10.0M	$10.0M	$9.0M	$39.0M
Tax	$24.1M	$15.4M	$23.4M	$23.5M	$21.9M	$29.6M	$23.7M	$23.8M	$23.3M	$25.6M	$23.9M	$24.0M
Net Profit	$9.0M	$4.0M	$6.0M	$9.0M	$9.0M	$6.0M	$6.0M	$11.0M	$7.0M	$7.0M	$7.0M	$29.0M
EPS	$0.45	$0.19	$0.31	$0.45	$0.45	$0.28	$0.32	$0.54	$0.36	$0.34	$0.34	$1.46

Over the 9 years reported for Karat Packaging Inc., borrowings increased from $33.0M in 2017 to $80.0M in 2025, cash stood at $38.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 2.30 times.

Balance Sheet — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Total Assets	$64.0M	$96.0M	$133.0M	$181.0M	$208.0M	$252.0M	$276.0M	$295.0M	$288.0M
Current Assets	$42.0M	$48.0M	$61.0M	$80.0M	$103.0M	$124.0M	$155.0M	$161.0M	$161.0M
Cash	$1.0M	$1.0M	$1.0M	$0	$6.0M	$16.0M	$23.0M	$32.0M	$38.0M
Inventory	$29.0M	$30.0M	$35.0M	$49.0M	$58.0M	$71.0M	$72.0M	$71.0M	$82.0M
Receivables	$12.0M	$15.0M	$22.0M	$24.0M	$33.0M	$30.0M	$28.0M	$27.0M	$36.0M
Fixed Assets	$20.0M	$38.0M	$59.0M	$96.0M	$93.0M	$111.0M	$116.0M	$129.0M	$121.0M
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$1.0M	$0	$0	$2.0M	$0	$0	$26.0M	$28.0M	$0
Other Assets	$0	$0	$0	$3.0M	$4.0M	$4.0M	$4.0M	$4.0M	$4.0M
Total Liabilities	$53.0M	$74.0M	$109.0M	$141.0M	$76.0M	$100.0M	$114.0M	$132.0M	$131.0M
Current Liabilities	$46.0M	$61.0M	$36.0M	$43.0M	$31.0M	$39.0M	$44.0M	$46.0M	$70.0M
Borrowings	$33.0M	$50.0M	$75.0M	$99.0M	$37.0M	$59.0M	$71.0M	$93.0M	$80.0M
Other Liabilities	$21.0M	$25.0M	$34.0M	$43.0M	$39.0M	$42.0M	$43.0M	$39.0M	$51.0M
Equity	$0	$0	$0	$0	$0	$0	$0	$0	$0
Reserves	$11.0M	$14.0M	$16.0M	$32.0M	$123.0M	$142.0M	$154.0M	$156.0M	$149.0M

For Karat Packaging Inc., operating cash flow was positive in 8 of 9 reported years; free cash flow in the latest year was $29.0M; free cash flow was positive in 4 of 9 years; financing activities used $3.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 9 Years (USD millions)

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025
Operating Cash Flow	$1.0M	$3.0M	$0	$15.0M	$9.0M	$29.0M	$53.0M	$48.0M	$34.0M
Investing Cash Flow	$-13.0M	$-56.0M	$-60.0M	$-74.0M	$-26.0M	$-33.0M	$-40.0M	$-10.0M	$20.0M
Financing Cash Flow	$-1.0M	$2.0M	$0	$0	$1.0M	$-1.0M	$0	$-2.0M	$-3.0M
Net Cash Flow	$1.0M	$0	$0	$0	$6.0M	$10.0M	$7.0M	$9.0M	$6.0M
Free Cash Flow	$-5.0M	$-29.0M	$-35.0M	$-22.0M	$-4.0M	$15.0M	$44.0M	$44.0M	$29.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	0.38
EV / EBITDA	13.83
FCF Yield	4.66%
Quick Ratio	1.25
Interest Coverage	16.16
Return 1Y	45.55%
Return 3Y	147.23%
Return 5Y	112.55%

Karat Packaging Inc. (KRT) financials — frequently asked questions

What is Karat Packaging Inc.'s annual revenue?

Karat Packaging Inc. (KRT) reported annual revenue of $468.0M in its most recent fiscal year.

What is Karat Packaging Inc.'s net profit?

Karat Packaging Inc. (KRT) reported net profit of $31.0M in its most recent fiscal year.

What is KRT EV/EBITDA?

Karat Packaging Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 13.83.

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