Net Profit Margin
since 2005
Calculation
Kellanova, net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income attributable to Kellanova1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 30, 2023 | 7.25% | = | 100 | × | 951) | ÷ | 13,122) |
| Dec 31, 2022 | 6.27% | = | 100 | × | 960) | ÷ | 15,315) |
| Dec 31, 2021 | 10.49% | = | 100 | × | 1,488) | ÷ | 14,181) |
| Jan 2, 2021 | 9.08% | = | 100 | × | 1,251) | ÷ | 13,770) |
| Dec 28, 2019 | 7.07% | = | 100 | × | 960) | ÷ | 13,578) |
| Dec 29, 2018 | 9.86% | = | 100 | × | 1,336) | ÷ | 13,547) |
| Dec 30, 2017 | 9.82% | = | 100 | × | 1,269) | ÷ | 12,923) |
| Dec 31, 2016 | 5.33% | = | 100 | × | 694) | ÷ | 13,014) |
| Dec 31, 2015 | 4.54% | = | 100 | × | 614) | ÷ | 13,525) |
| Dec 31, 2014 | 4.33% | = | 100 | × | 632) | ÷ | 14,580) |
| Dec 28, 2013 | 12.22% | = | 100 | × | 1,807) | ÷ | 14,792) |
| Dec 29, 2012 | 6.77% | = | 100 | × | 961) | ÷ | 14,197) |
| Dec 31, 2011 | 9.33% | = | 100 | × | 1,231) | ÷ | 13,198) |
| Dec 31, 2010 | 10.06% | = | 100 | × | 1,247) | ÷ | 12,397) |
| Dec 31, 2009 | 9.64% | = | 100 | × | 1,212) | ÷ | 12,575) |
| Dec 31, 2008 | 8.95% | = | 100 | × | 1,148) | ÷ | 12,822) |
| Dec 29, 2007 | 9.37% | = | 100 | × | 1,103) | ÷ | 11,776) |
| Dec 30, 2006 | 9.21% | = | 100 | × | 1,004) | ÷ | 10,907) |
| Dec 31, 2005 | 9.63% | = | 100 | × | 980) | ÷ | 10,177) |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The net profit margin has experienced substantial volatility from 2005 through 2023, characterized by periods of relative stability followed by sharp fluctuations. While net sales generally trended upward for much of the period, the translation of these sales into net income has been inconsistent, resulting in a profit margin range between a low of 4.33% and a peak of 12.22%.
- Early Operational Stability (2005–2011)
- During this initial phase, the net profit margin remained resilient, maintaining a narrow corridor between 8.95% and 10.06%. Net income and net sales grew in tandem, indicating a stable cost structure and consistent operational efficiency.
- Period of High Volatility (2012–2016)
- A period of significant margin instability occurred between 2012 and 2016. A decline to 6.77% in 2012 was followed by a historical peak of 12.22% in 2013. This peak was immediately followed by a severe contraction, with margins falling to the lowest levels in the observed period, reaching 4.33% in 2014 and 4.54% in 2015.
- Recovery and Recent Trends (2017–2023)
- Profitability recovered to near 10% in 2017 and 2018 before entering another cycle of fluctuation. A peak of 10.49% was achieved in 2021, but this was followed by a sharp decline to 6.27% in 2022, occurring despite net sales reaching a historical high of 15.3 billion US dollars. By 2023, the margin slightly recovered to 7.25% as net sales decreased to 13.1 billion US dollars.
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Comparison to Competitors
Kellanova, net profit margin, long-term trends, comparison to competitors
| Kellanova | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Dec 30, 2023 | 7.25% | 23.42% | 13.77% | 9.92% | 22.21% |
| Dec 31, 2022 | 6.27% | 22.19% | 8.63% | 10.31% | 28.49% |
| Dec 31, 2021 | 10.49% | 25.28% | 14.97% | 9.59% | 29.00% |
| Jan 2, 2021 | 9.08% | 23.47% | 13.37% | 10.12% | 28.08% |
| Dec 28, 2019 | 7.07% | 23.94% | 14.96% | 10.89% | 24.11% |
| Dec 29, 2018 | 9.86% | 20.20% | 13.03% | 19.35% | 26.70% |
| Dec 30, 2017 | 9.82% | 3.52% | 11.28% | 7.65% | 20.99% |
| Dec 31, 2016 | 5.33% | 15.59% | 6.40% | 10.08% | 26.11% |
| Dec 31, 2015 | 4.54% | 16.60% | 24.52% | 8.65% | 25.65% |
| Dec 31, 2014 | 4.33% | 15.43% | 6.38% | 9.77% | 25.17% |
| Dec 28, 2013 | 12.22% | 18.32% | 11.09% | 10.15% | 27.47% |
| Dec 29, 2012 | 6.77% | 18.78% | 8.65% | 9.43% | 28.05% |
| Dec 31, 2011 | 9.33% | 18.42% | 6.49% | 9.69% | 27.63% |
| Dec 31, 2010 | 10.06% | 33.63% | 8.36% | 10.93% | 26.68% |
| Dec 31, 2009 | 9.64% | 22.02% | 7.48% | 13.75% | 25.33% |
| Dec 31, 2008 | 8.95% | 18.18% | 6.87% | 11.89% | 26.80% |
| Dec 29, 2007 | 9.37% | 20.73% | 6.95% | 14.33% | — |
| Dec 30, 2006 | 9.21% | 21.09% | 8.91% | 16.06% | — |
| Dec 31, 2005 | 9.63% | 21.09% | 7.72% | 12.52% | — |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Kellanova, net profit margin, long-term trends, comparison to sector (food, beverage & tobacco)
| Kellanova | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 30, 2023 | 7.25% | 15.62% |
| Dec 31, 2022 | 6.27% | 15.68% |
| Dec 31, 2021 | 10.49% | 17.28% |
| Jan 2, 2021 | 9.08% | 16.69% |
| Dec 28, 2019 | 7.07% | 17.04% |
| Dec 29, 2018 | 9.86% | 19.88% |
| Dec 30, 2017 | 9.82% | 9.81% |
| Dec 31, 2016 | 5.33% | 13.66% |
| Dec 31, 2015 | 4.54% | 16.45% |
| Dec 31, 2014 | 4.33% | 13.18% |
| Dec 28, 2013 | 12.22% | 15.47% |
| Dec 29, 2012 | 6.77% | 15.02% |
| Dec 31, 2011 | 9.33% | 13.67% |
| Dec 31, 2010 | 10.06% | 17.42% |
| Dec 31, 2009 | 9.64% | 15.85% |
| Dec 31, 2008 | 8.95% | 14.49% |
| Dec 29, 2007 | 9.37% | 13.48% |
| Dec 30, 2006 | 9.21% | 14.73% |
| Dec 31, 2005 | 9.63% | 12.90% |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Kellanova, net profit margin, long-term trends, comparison to industry (consumer staples)
| Kellanova | Consumer Staples | |
|---|---|---|
| Dec 30, 2023 | 7.25% | 5.47% |
| Dec 31, 2022 | 6.27% | 6.11% |
| Dec 31, 2021 | 10.49% | 6.21% |
| Jan 2, 2021 | 9.08% | 6.22% |
| Dec 28, 2019 | 7.07% | 4.62% |
| Dec 29, 2018 | 9.86% | 6.05% |
| Dec 30, 2017 | 9.82% | 5.52% |
| Dec 31, 2016 | 5.33% | 5.88% |
| Dec 31, 2015 | 4.54% | 5.62% |
| Dec 31, 2014 | 4.33% | 6.00% |
| Dec 28, 2013 | 12.22% | 6.75% |
| Dec 29, 2012 | 6.77% | 6.65% |
| Dec 31, 2011 | 9.33% | 6.99% |
| Dec 31, 2010 | 10.06% | 7.59% |
| Dec 31, 2009 | 9.64% | 6.93% |
| Dec 31, 2008 | 8.95% | 6.75% |
| Dec 29, 2007 | 9.37% | 6.11% |
| Dec 30, 2006 | 9.21% | 6.35% |
| Dec 31, 2005 | 9.63% | 6.29% |
Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2021-01-02), 10-K (reporting date: 2019-12-28), 10-K (reporting date: 2018-12-29), 10-K (reporting date: 2017-12-30), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-29), 10-K (reporting date: 2006-12-30), 10-K (reporting date: 2005-12-31).