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Grocery Outlet Holding Corp.

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Grocery Outlet Holding Corp. • NASDAQ
$11.13 ▲ 1.46% (+0.16)
Market Cap $1.09 B
52w High $20.88
52w Low $10.21
Dividend Yield 0%
P/E -278.25
Volume 761.25K
Outstanding Shares 98.14M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.168B ▼ $332.312M ▼ $11.605M ▲ 0.993% ▲ $0.12 ▲ $56.214M ▲
Q2-2025 $1.18B ▲ $347.921M ▼ $4.961M ▲ 0.421% ▲ $0.05 ▲ $45.111M ▲
Q1-2025 $1.126B ▲ $364.953M ▲ $-23.317M ▼ -2.072% ▼ $-0.24 ▼ $8.451M ▼
Q4-2024 $1.098B ▼ $312.507M ▲ $2.311M ▼ 0.211% ▼ $0.02 ▼ $41.42M ▼
Q3-2024 $1.108B $304.586M $24.178M 2.182% $0.25 $69.263M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $52.125M ▼ $3.369B ▲ $2.17B ▲ $1.199B ▲
Q2-2025 $55.19M ▲ $3.322B ▲ $2.136B ▲ $1.187B ▲
Q1-2025 $50.91M ▼ $3.271B ▲ $2.092B ▲ $1.18B ▼
Q4-2024 $62.828M ▼ $3.174B ▲ $1.976B ▲ $1.197B ▼
Q3-2024 $68.653M $3.139B $1.912B $1.226B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $11.605M ▲ $31.727M ▼ $-46.415M ▲ $11.623M ▲ $-3.065M ▼ $-23.485M ▼
Q2-2025 $4.961M ▲ $73.625M ▲ $-67.472M ▲ $-1.873M ▲ $4.28M ▲ $14.408M ▲
Q1-2025 $-23.317M ▼ $58.938M ▲ $-68.684M ▼ $-2.172M ▼ $-11.918M ▼ $-6.348M ▲
Q4-2024 $2.311M ▼ $39.498M ▲ $-68.35M ▼ $23.027M ▼ $-5.825M ▼ $-26.631M ▲
Q3-2024 $24.178M $23.027M $-50.392M $28.953M $1.588M $-32.629M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
NonPerishable
NonPerishable
 $1.40Bn ▲$690.00M ▼$730.00M ▲$730.00M ▲
Perishable
Perishable
 $820.00M ▲$430.00M ▼$450.00M ▲$440.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past several years, showing that the concept is resonating and that store expansion is working. However, profit levels have not kept pace with sales growth. Margins are thin, which is normal for grocery, but here they look particularly pressured: operating profit has stayed relatively small and recent net income has slipped compared with prior years. The recent technology transition appears to have weighed on profitability, and earnings per share today are well below earlier peaks. In short, it’s a solid growth story on the top line, but with profitability that is fragile and sensitive to execution issues and cost control.

Balance Sheet

Balance Sheet The balance sheet shows a business that has grown in size but also relies meaningfully on debt. Total assets and shareholder equity have both trended upward, which is a positive sign of long-term investment and retained value. At the same time, debt has climbed and now represents a significant part of the capital structure, while the cash balance is relatively modest. This mix suggests the company has been comfortable using borrowing to fund growth, but it also means the business has less flexibility if operating performance weakens or if credit conditions tighten.

Cash Flow

Cash Flow Cash generation has been uneven. The company has produced positive operating cash flow in most years, but the most recent year looks notably weaker, suggesting working capital and transition issues may have absorbed more cash than usual. Capital spending has been consistently high to support new stores and infrastructure, which is strategic but cash‑intensive. As a result, free cash flow has generally been modest and turned negative most recently. Overall, the cash flow picture is that of a growth retailer investing heavily, but without a large cushion from excess cash generation today.

Competitive Edge

Competitive Edge Grocery Outlet operates in an extremely competitive space, but its model is clearly differentiated. Its opportunistic buying of surplus branded goods allows it to offer very deep discounts, creating a “treasure hunt” experience that drives repeat traffic. The independent operator structure further sharpens its edge, giving local entrepreneurs strong incentives to tailor stores to neighborhood tastes and run them very efficiently. These features form a real, if niche, moat that is hard for traditional chains to copy. Against that, the company still faces intense pressure from big-box retailers, club stores, dollar stores, and traditional grocers that also push value, so it must keep executing well to maintain its advantage.

Innovation and R&D

Innovation and R&D This is not a technology-first company, but it is in the middle of an important modernization phase. The move to a new SAP platform is a foundational upgrade that should enable better data, inventory visibility, and decision-making, even though it has caused near-term noise in margins and operations. The rollout of tools like real-time order guides for store operators and a customer mobile app shows a pragmatic, support-focused approach to tech rather than flashy innovation. Strategically, the push into private-label brands and a greater focus on natural and specialty value products are key product innovations that can deepen loyalty and improve profitability. Digital and e‑commerce capabilities remain relatively underdeveloped compared with larger peers, leaving both a risk and a clear avenue for future progress.

Summary

Overall, Grocery Outlet looks like a value-driven growth retailer with a distinctive model, solid sales momentum, and a real—though specialized—competitive edge. The trade-off is that profits are thin, cash flow is not yet consistently strong, and leverage is meaningful, all of which raise the importance of flawless execution as the company scales. The technology upgrade, store expansion, and private-label strategy could support better economics over time, but they also introduce execution risk. Observers may want to watch how quickly margins recover post-SAP, whether free cash flow becomes more consistently positive, and how effectively the company can extend its unique discount model while competing against much larger, well-capitalized grocery players.

NEWS

November 28, 2025 · 8:30 AM UTC

Grocery Outlet to Present at Morgan Stanley Global Consumer & Retail Conference

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November 12, 2025 · 3:38 PM UTC

Grocery Outlet Partners with Feeding America® with the Goal to Provide Three Million Meals to People Facing Hunger This Holiday Season

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November 5, 2025 · 8:30 AM UTC

Unwrap Unbeatable Deals This Season at Grocery Outlet, Your Xtreme Value™ Holiday Headquarters

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October 21, 2025 · 4:05 PM UTC

Grocery Outlet Holding Corp. Announces Third Quarter Fiscal 2025 Earnings Release and Conference Call Date

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October 17, 2025 · 10:28 AM UTC

Notice to All Long Term Shareholders of Grocery Outlet Holding Corp: Johnson Fistel Continues Investigation On Behalf of Your Claims

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