Krispy Kreme, Inc.

NasdaqGS:DNUT Stock Report

Market Cap: US$606.8m

Krispy Kreme Management

Management criteria checks 0/4

Krispy Kreme's CEO is Josh Charlesworth, appointed in Jan 2024, has a tenure of 2.33 years. total yearly compensation is $3.69M, comprised of 27.1% salary and 72.9% bonuses, including company stock and options. directly owns 0.44% of the company’s shares, worth $2.57M. The average tenure of the management team and the board of directors is 1.2 years and 1.4 years respectively.

Key information

Josh Charlesworth

Chief executive officer

US$3.7m

Total compensation

CEO salary percentage27.07%
CEO tenure2.3yrs
CEO ownership0.4%
Management average tenure1.2yrs
Board average tenure1.4yrs

Recent management updates

Recent updates

Narrative Update May 07

DNUT: Global Shop Expansion And Menu Refresh Will Support Upside Potential

Narrative update on Krispy Kreme The updated analyst view lifts the price target on Krispy Kreme stock from $3.95 to $4. The change is supported by recent research indicating adjusted assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E expectations.
Narrative Update Apr 23

DNUT: Revenue Execution And Margin Expansion Will Support Future Re Rating

The analyst fair value estimate for Krispy Kreme has moved from $5.00 to $6.00, with analysts citing recent price target adjustments, including Citi's lift to $4.00 and mixed views across the Street, as they refine assumptions for revenue growth, profit margins, and future P/E. Analyst Commentary Recent research updates on Krispy Kreme have given investors a clearer sense of how the Street is thinking about the stock's risk and reward trade off.
Seeking Alpha Apr 22

Krispy Kreme: A Better Business, But Still Not A Better Stock

Summary Krispy Kreme remains a 'Hold' as the turnaround delivers margin gains, but valuation looks full at current levels. DNUT's shift to an asset-light, franchise-focused model improved Q4 EBITDA margins to 10.2%, but revenue declined 3% and debt remains elevated. Management guides for modest system-wide sales growth (2–4%) and lower capex ($50–60M), supporting positive but limited FCF and gradual deleveraging. Valuation at ~17x FY26 EBITDA offers only 10–20% upside; a higher margin/deleveraging scenario is possible but not the base case. Read the full article on Seeking Alpha
Narrative Update Apr 08

DNUT: Execution Risks Around Expansion Plans Will Restrain Future P/E Multiple

Analysts have nudged Krispy Kreme's average price target to $4.00, representing a modest increase supported by slightly higher revenue growth and updated views reflected in recent target revisions across several firms. Analyst Commentary Recent research on Krispy Kreme reflects a mix of optimism and restraint, with price target changes clustered in a narrow range around US$4.
Narrative Update Mar 25

DNUT: Execution Risks And Flat Margins Will Restrain Future P/E Multiple

Krispy Kreme’s analyst price target has shifted modestly, with moves such as Citi’s raise to $4 from $3.95 and other recent target revisions reflecting analysts’ updated views on its growth, margins and future P/E assumptions. Analyst Commentary Recent Street research on Krispy Kreme points to a mixed but generally cautious tone.
Narrative Update Mar 11

DNUT: Slower Revenue Assumptions And Richer P/E Will Pressure Fair Value

Analysts have inched their average price target on Krispy Kreme up to about $4, reflecting tweaks to their models that include more modest revenue growth expectations, slightly higher profit margins and a richer future P/E assumption. Analyst Commentary Recent research has been mixed, with some price target adjustments pointing to a more cautious stance on Krispy Kreme.
Narrative Update Feb 24

DNUT: Mixed Street Views And Margin Assumptions Will Shape Fair Value Outlook

Analysts have adjusted their view on Krispy Kreme, raising the fair value estimate to $3.00 from $2.50, based on research that incorporates updated expectations for revenue growth, profit margins, and future P/E assumptions. Analyst Commentary Recent street research on Krispy Kreme reflects a mixed but cautious tone, with price target revisions that highlight both potential and perceived risks.
Analysis Article Feb 12

Little Excitement Around Krispy Kreme, Inc.'s (NASDAQ:DNUT) Revenues As Shares Take 31% Pounding

Krispy Kreme, Inc. ( NASDAQ:DNUT ) shares have had a horrible month, losing 31% after a relatively good period...
Narrative Update Feb 08

DNUT: Execution On Revenue And Margin Plans Will Support Future Upside

Analysts have updated their view on Krispy Kreme with a lower implied price target of about US$5, reflecting slightly revised fair value assumptions, a modestly adjusted discount rate and updated expectations for revenue growth, profit margins and future P/E multiples drawn from recent research commentary. Analyst Commentary Recent Street research on Krispy Kreme has been mixed, with some firms trimming price targets while others edge them higher.
Narrative Update Jan 24

DNUT: Improved Earnings Framework Will Support Long-Term Upside Potential

Analysts have lifted their price target on Krispy Kreme by US$0.50, supported by slightly higher assumptions for revenue growth, profit margin and future P/E. Together these factors point to a modestly improved earnings outlook.
Analysis Article Jan 15

Is Krispy Kreme (NASDAQ:DNUT) Using Debt Sensibly?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Narrative Update Jan 08

DNUT: International Expansion And Menu Refresh Will Support Long-Term Upside Potential

Analysts have lifted their price target on Krispy Kreme, citing updated assumptions that now reflect revenue growth of 6.80%, a profit margin of 8.07% and a future P/E of 9.86, while keeping estimated fair value at $6.00 and the discount rate at 12.5%. What's in the News Krispy Kreme is partnering with Peanuts for the first time in the U.S., launching a limited time Krispy Kreme x Peanuts holiday doughnut collection featuring Snoopy, Charlie Brown and themed designs, along with a custom dozen box available at participating U.S. stores.
Narrative Update Dec 16

DNUT: International Expansion And Menu Refresh Will Drive Long-Term Upside

Analysts have cut their fair value estimate for Krispy Kreme from approximately $11.34 to $6.00 per share, citing a sharp reduction in expected profit margins and a higher assumed future valuation multiple, despite slightly stronger projected revenue growth. What's in the News Krispy Kreme launches its first ever U.S. collaboration with Peanuts, introducing a limited time Krispy Kreme x Peanuts holiday doughnut collection featuring new Snoopy, Charlie Brown, and Christmas themed varieties, plus returning seasonal favorites and a custom dozen box available starting November 29.
Narrative Update Dec 01

DNUT: Global Expansion And Menu Refresh Will Balance Execution Risks Ahead

Analysts have slightly increased their price target for Krispy Kreme to $3.83 per share, citing marginal adjustments to profit margin outlook and updated valuation models. What's in the News Krispy Kreme partners with Peanuts to launch a festive holiday doughnut collection, including three all-new flavors and two returning favorites.
Narrative Update Nov 17

DNUT: Expansion Into Retailers And Execution Risks Will Shape Outlook

Analysts have slightly raised their price target for Krispy Kreme to $3.83 from $3.70, citing modest improvements in projected revenue growth. However, they continue to note ongoing concerns about execution risk highlighted in recent research.
Analysis Article Nov 16

Krispy Kreme, Inc. (NASDAQ:DNUT) Surges 27% Yet Its Low P/S Is No Reason For Excitement

Krispy Kreme, Inc. ( NASDAQ:DNUT ) shareholders would be excited to see that the share price has had a great month...
Narrative Update Nov 01

DNUT: Big-Box Retail Push And Global Expansion Will Balance Domestic Uncertainty

Analysts have lowered their price target for Krispy Kreme, citing concerns about execution risk and decreased visibility in the U.S. market following the canceled McDonald's partnership. Analyst Commentary Recent analyst commentary on Krispy Kreme highlights both optimistic and cautious viewpoints regarding the company's outlook and execution following the canceled McDonald's partnership.
Narrative Update Oct 17

International Franchising And Digital Sales Will Expand Global Reach

Narrative Update on Krispy Kreme Analysts have left their price target for Krispy Kreme unchanged at $3.70. They cite continued caution due to execution risks and ongoing weakness in the U.S. business as the company implements its turnaround plan.
Narrative Update Oct 03

International Franchising And Digital Sales Will Expand Global Reach

Krispy Kreme's fair value price target has been lowered from $4.03 to $3.70 per share. Analysts cite ongoing execution risks and recent business challenges as key factors for the more cautious outlook.
Analysis Article Sep 11

Why Krispy Kreme, Inc. (NASDAQ:DNUT) Could Be Worth Watching

Krispy Kreme, Inc. ( NASDAQ:DNUT ), might not be a large cap stock, but it saw a double-digit share price rise of over...
Narrative Update Aug 27

International Franchising And Digital Sales Will Expand Global Reach

Krispy Kreme’s consensus price target has been sharply reduced as analysts cite execution risk and weak U.S. trends following the cancelled McDonald’s partnership, with most downside already reflected in the shares, lowering fair value from $5.17 to $4.03. Analyst Commentary JPMorgan sees Krispy Kreme in "survivor mode" after the cancelled McDonald's launch, with the turnaround plan carrying significant execution risk due to ongoing declines in the U.S. business.
Analysis Article Aug 09

Krispy Kreme, Inc. (NASDAQ:DNUT) Looks Inexpensive But Perhaps Not Attractive Enough

NasdaqGS:DNUT 1 Year Share Price vs Fair Value Explore Krispy Kreme's Fair Values from the Community and select yours...
Seeking Alpha Apr 12

Krispy Kreme: Upside From Here Is Much More Attractive

Summary Reiterate a buy rating for Krispy Kreme (DNUT) due to solid fundamentals and growth drivers, despite the recent unjustified sell-off. DNUT's Delivered Fresh Daily (DFD) strategy is proving successful, with significant revenue growth and expansion in both domestic and international markets. Strategic moves like refranchising mature markets and outsourcing logistics are expected to enhance margins and scalability, reducing debt and operational costs. Read the full article on Seeking Alpha
Analysis Article Mar 31

Is Krispy Kreme, Inc. (NASDAQ:DNUT) Trading At A 27% Discount?

Key Insights The projected fair value for Krispy Kreme is US$6.88 based on 2 Stage Free Cash Flow to Equity Krispy...
Seeking Alpha Mar 09

Krispy Kreme: Sweet Growth, Bitter Cyber Setback

Summary Krispy Kreme has shown undeniable growth in Points of Access ("PoAs"), but profitability remains elusive, impacted by a significant cyber incident and economic headwinds. The partnership with McDonald's is a key growth driver, aiming for 15,000 U.S. PoAs by FY 2026, but profitability challenges persist. Q4 FY 2024 results were severely impacted by a cyber incident, leading to a 10.4% decline in top-line sales and a net loss of $22.4 million. Despite growth potential, high debt levels and uncertain profitability lead to a 'Hold' rating with a reduced price target of $6.50 - $7.00. Read the full article on Seeking Alpha
Analysis Article Mar 04

Benign Growth For Krispy Kreme, Inc. (NASDAQ:DNUT) Underpins Stock's 33% Plummet

To the annoyance of some shareholders, Krispy Kreme, Inc. ( NASDAQ:DNUT ) shares are down a considerable 33% in the...
Analysis Article Feb 21

Krispy Kreme (NASDAQ:DNUT) Use Of Debt Could Be Considered Risky

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Seeking Alpha Feb 21

Krispy Kreme's McDonald's Deal Promises Growth - But Can It Deliver?

Summary Krispy Kreme shares are undervalued, with significant growth potential from a new partnership with McDonald's, expanding access points from 19.6% to 33% in 2.5 years. Despite disappointing Q3 results, DNUT's organic revenue growth and a GAAP net income of $37.6 million highlight the core business's resilience. The McDonald's partnership is a game-changer, expected to add 15,000 access points and significantly boost revenue and adjusted EBITDA by 2026. Increased production capacity, especially in key hubs like Chicago, is expected to drive margin improvements and long-term profitability. Read the full article on Seeking Alpha
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New Narrative Feb 18

McDonald's Partnership Expansion Will Broaden Distribution, But Margins May Decline

Expanded partnerships and distribution networks are poised to boost revenue and brand awareness in both domestic and international markets.
Analysis Article Feb 03

Returns On Capital Signal Difficult Times Ahead For Krispy Kreme (NASDAQ:DNUT)

If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? More often...
Analysis Article Jan 15

Improved Revenues Required Before Krispy Kreme, Inc. (NASDAQ:DNUT) Shares Find Their Feet

Krispy Kreme, Inc.'s ( NASDAQ:DNUT ) price-to-sales (or "P/S") ratio of 0.9x might make it look like a buy right now...

CEO Compensation Analysis

How has Josh Charlesworth's remuneration changed compared to Krispy Kreme's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 29 2026n/an/a

-US$511m

Dec 28 2025n/an/a

-US$520m

Sep 28 2025n/an/a

-US$515m

Jun 29 2025n/an/a

-US$456m

Mar 30 2025n/an/a

-US$26m

Dec 29 2024n/an/a

US$3m

Sep 29 2024n/an/a

US$28m

Jun 30 2024n/an/a

-US$52m

Mar 31 2024n/an/a

-US$46m

Dec 31 2023US$11mUS$945k

-US$38m

Oct 01 2023n/an/a

-US$44m

Jul 02 2023n/an/a

-US$16m

Apr 02 2023n/an/a

-US$20m

Jan 01 2023US$1mUS$860k

-US$16m

Oct 02 2022n/an/a

-US$11m

Jul 03 2022n/an/a

-US$6m

Apr 03 2022n/an/a

-US$19m

Jan 02 2022US$8mUS$800k

-US$26m

Oct 03 2021n/an/a

-US$53m

Jul 04 2021n/an/a

-US$61m

Apr 04 2021n/an/a

-US$57m

Jan 03 2021US$2mUS$800k

-US$65m

Compensation vs Market: Josh's total compensation ($USD3.69M) is above average for companies of similar size in the US market ($USD2.60M).

Compensation vs Earnings: Josh's compensation has increased whilst the company is unprofitable.


CEO

Josh Charlesworth (49 yo)

2.3yrs
Tenure
US$3,693,795
Compensation

Mr. Joshua Charlesworth, also known as Josh, serves as President of Krispy Kreme, Inc. He was Chief Operating Officer since May 2019 until January 01, 2024 and served as Global President since June 2022 at...


Leadership Team

NamePositionTenureCompensationOwnership
Joshua Charlesworth
President2.3yrsUS$3.69m0.44%
$ 2.6m
Raphael Duvivier
Chief Financial Officerless than a yearUS$2.81m0.32%
$ 1.9m
Nicola Steele
Chief Operating Officer1.2yrsUS$2.59mno data
Alison Holder
Chief Brand & Product Officer1.3yrsUS$2.18m0.034%
$ 205.3k
Joseph Esposito
Chief Accounting Officerless than a yearno data0.0062%
$ 37.8k
Angela Yochem
Chief Performance & Technology Officerno datano datano data
Stephanie Daukus
Vice President of Investor Relationsno datano datano data
Atiba Adams
Chief Legal Officer & Corporate Secretary1.9yrsno datano data
Eloise Hale
Vice President of Global Corporate Communicationsno datano datano data
Lori Suess
Head of People & Cultureless than a yearno data0.064%
$ 390.5k
1.2yrs
Average Tenure
48yo
Average Age

Experienced Management: DNUT's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Joshua Charlesworth
President2.3yrsUS$3.69m0.44%
$ 2.6m
David Deno
Independent Director9.7yrsUS$213.27k0.052%
$ 313.6k
Bernardo Hees
Directorless than a yearUS$322.70k0.76%
$ 4.6m
Patrick Grismer
Independent Directorless than a yearUS$170.37kno data
Melissa Werneck
Independent Directorless than a yearno datano data
Easwaran Sundaram
Independent Directorless than a yearUS$167.69kno data
Marissa Andrada
Independent Director4.3yrsUS$208.08k0.0032%
$ 19.4k
David Shear
Independent Directorless than a yearno datano data
Patricia Capel
Director1.9yrsUS$363.23k0.0037%
$ 22.3k
Gerhard Pleuhs
Lead Independent Director3.9yrsUS$222.89k0.0026%
$ 15.5k
1.4yrs
Average Tenure
54.5yo
Average Age

Experienced Board: DNUT's board of directors are not considered experienced ( 1.4 years average tenure), which suggests a new board.


Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/31 01:04
End of Day Share Price 2026/05/29 00:00
Earnings2026/03/29
Annual Earnings2025/12/28

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Krispy Kreme, Inc. is covered by 23 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jaafar MestariBNP Paribas
Sara SenatoreBofA Global Research
Mark KalinowskiBrean Capital Historical (Janney Montgomery)