The Kroger Co. Revenue & Financials

Kroger generated $150.0 billion in fiscal year 2024 revenue — a number so large that it ranks the company among the ten biggest enterprises in the United States by revenue, sitting above most technology companies and all but the largest financial institutions. Net income reached $2.164 billion, a net margin of approximately 1.4%, which is the normal financial reality for a business that operates at grocery scale: the margins are thin and the volumes are enormous. The revenue trajectory has been essentially flat for three years: $148.26 billion in FY2022, $150.04 billion in FY2023, $150.12 billion in FY2024. That plateau reflects the combination of modest price increases, modest volume growth, and the absence of the Albertsons merger that would have added significant revenue had it not been blocked by the FTC in February 2025. The Our Brands private-label program, generating an estimated $30 billion in annual revenue across 37,000 products, is the most structurally interesting part of the business from a margin perspective. Private-label products generate higher gross margins than branded equivalents while simultaneously serving as a negotiating tool in supplier discussions. Every dollar of Our Brands revenue that grows at the expense of national brands improves the company's economics. The 84.51° analytics subsidiary, the pharmacy network handling 322 million prescriptions annually, and the fuel center operations create revenue streams and data assets that extend well beyond traditional grocery economics. The market capitalization of $45 billion, against $150 billion in annual revenue, reflects the grocery industry's structural limitations on margin rather than doubt about Kroger's competitive position in its home markets.