Kellogg Company
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

20252025202620272028
Price/Earnings ratio
21.2620.4519.5918.6017.84
Price/Sales ratio
2.091.982.022.042.00
Earnings per Share (EPS)
$3.77$3.92$4.09$4.31$4.49

Historical Multiples (2012 – 2023)

2012 2013 2016 2016 2017 2018 2019 2022 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
21.7511.5039.0934.8717.3713.9523.0413.8523.7420.1027.7017.37
Price/Sales ratio
1.471.401.771.851.701.371.621.451.481.452.181.70
Price/Book Value ratio
8.645.8611.2812.669.967.168.055.545.786.027.627.62
Price/Cash Flow ratio
11.8911.5014.1914.8613.3912.1318.8112.1113.8011.6218.1013.39
Price/Free Cash Flow ratio
17.0717.7621.0921.5919.2519.4537.5017.9519.6019.7530.1819.25
Price/Earnings Growth ratio
-1.020.13-34.402.52-0.270.03-0.860.71-0.67-14.172.19-0.27
Dividend Yield
2.97%3.14%2.91%2.95%3.33%4.08%3.47%3.82%3.49%4.18%2.78%4.08%
Profitability Indicator Ratios
Gross Profit Margin
38.48%41.25%34.61%36.53%38.86%34.88%32.26%32.15%30.13%32.63%35.01%35.01%
Operating Profit Margin
11.00%19.17%8.06%10.71%15.05%12.59%10.31%12.35%10.67%11.46%13.20%13.20%
Pretax Profit Margin
9.33%17.61%5.71%7.12%12.82%9.81%9.61%13.86%7.81%7.92%10.12%9.81%
Net Profit Margin
6.76%12.21%4.53%5.33%9.81%9.86%7.07%10.49%6.26%7.24%7.85%9.86%
Effective Tax Rate
27.39%30.39%20.56%25.13%24.86%13.61%24.59%24.10%20.38%24.80%19.67%13.61%
Return on Assets
6.32%11.67%4.02%4.59%7.76%7.51%5.46%8.18%5.19%6.08%6.37%7.51%
Return On Equity
39.72%50.97%28.85%36.31%57.36%51.36%34.94%40%24.35%29.95%30.26%51.36%
Return on Capital Employed
14.65%24.37%11.45%13.11%16.39%12.87%10.95%13.62%13.46%14.25%15.66%15.66%
Liquidity Ratios
Current Ratio
0.740.85N/A0.650.670.690.71N/AN/AN/A0.770.67
Quick Ratio
0.380.440.340.380.400.400.460.370.380.410.520.40
Cash ratio
0.060.070.040.060.060.070.080.050.040.050.110.06
Days of Sales Outstanding
37.3835.1336.2734.5239.2337.0442.3638.3236.5143.6148.4539.23
Days of Inventory outstanding
57.0552.4251.5854.7156.2255.0348.6553.0360.3151.3253.4955.03
Operating Cycle
94.4387.5687.8589.2395.4592.0891.0291.3696.8294.94101.9495.45
Days of Payables Outstanding
58.5960.1578.7089.00104.82100.4294.7397.6187.695.55103.90103.90
Cash Conversion Cycle
35.8327.409.150.23-9.36-8.34-3.71-6.259.22-0.61-1.96-9.36
Debt Ratios
Debt Ratio
0.840.470.500.510.520.500.450.390.350.370.370.50
Debt Equity Ratio
5.272.073.634.063.893.412.921.941.661.841.603.41
Long-term Debt to Capitalization
0.710.640.710.770.770.750.720.620.570.610.580.75
Total Debt to Capitalization
0.760.670.780.800.790.770.740.660.620.640.610.77
Interest Coverage Ratio
5.9812.07N/A3.435.415.944.91N/AN/AN/A5.185.94
Cash Flow to Debt Ratio
0.220.240.210.200.190.170.140.230.250.280.260.19
Company Equity Multiplier
6.274.367.177.907.396.836.394.884.694.924.316.83
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.120.120.120.120.120.110.080.110.100.120.120.12
Free Cash Flow / Operating Cash Flow Ratio
0.690.640.670.680.690.620.500.670.700.580.600.62
Cash Flow Coverage Ratio
0.220.240.210.200.190.170.140.230.250.280.260.19
Short Term Coverage Ratio
0.961.750.681.522.112.231.391.761.322.091.912.23
Dividend Payout Ratio
64.72%36.13%114.00%103.17%57.99%57.03%80.10%52.95%83.02%84.12%76.61%57.99%