Kellanova
Kellanova, together with its subsidiaries, manufactures and markets snacks and convenience foods in North America, Europe, Latin America, the Asia Pacific, the Middle East, Australia, and Africa. Its principal products consist of snacks, such as crackers, savory snacks, toaster pastries, cereal bars, granola bars, and bites; and convenience foods, including ready-to-eat cereals, frozen waffles, v… Read more
Kellanova (K) - Net Assets
Latest net assets as of September 2025: $4.29 Billion USD
Based on the latest financial reports, Kellanova (K) has net assets worth $4.29 Billion USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($15.64 Billion) and total liabilities ($11.35 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $4.29 Billion |
| % of Total Assets | 27.45% |
| Annual Growth Rate | 4.56% |
| 5-Year Change | 6.77% |
| 10-Year Change | 81.57% |
| Growth Volatility | 24.56 |
Kellanova - Net Assets Trend (1985–2024)
This chart illustrates how Kellanova's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Kellanova (1985–2024)
The table below shows the annual net assets of Kellanova from 1985 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $3.88 Billion | +15.23% |
| 2023-12-31 | $3.37 Billion | -22.99% |
| 2022-12-31 | $4.38 Billion | +3.80% |
| 2021-12-31 | $4.21 Billion | +15.92% |
| 2020-12-31 | $3.64 Billion | +9.72% |
| 2019-12-31 | $3.31 Billion | +4.91% |
| 2018-12-31 | $3.16 Billion | +43.98% |
| 2017-12-31 | $2.19 Billion | +13.91% |
| 2016-12-31 | $1.93 Billion | -9.92% |
| 2015-12-31 | $2.14 Billion | -25.01% |
| 2014-12-31 | $2.85 Billion | -20.96% |
| 2013-12-31 | $3.61 Billion | +46.33% |
| 2012-12-31 | $2.46 Billion | +37.10% |
| 2011-12-31 | $1.80 Billion | -16.53% |
| 2010-12-31 | $2.15 Billion | -5.32% |
| 2009-12-31 | $2.27 Billion | +56.36% |
| 2008-12-31 | $1.46 Billion | -42.40% |
| 2007-12-31 | $2.53 Billion | +22.09% |
| 2006-12-31 | $2.07 Billion | -9.41% |
| 2005-12-31 | $2.28 Billion | +1.19% |
| 2004-12-31 | $2.26 Billion | +56.40% |
| 2003-12-31 | $1.44 Billion | +61.23% |
| 2002-12-31 | $895.10 Million | +2.71% |
| 2001-12-31 | $871.50 Million | -2.90% |
| 2000-12-31 | $897.50 Million | +10.37% |
| 1999-12-31 | $813.20 Million | -8.61% |
| 1998-12-31 | $889.80 Million | -10.84% |
| 1997-12-31 | $998.00 Million | -22.18% |
| 1996-12-31 | $1.28 Billion | -19.39% |
| 1995-12-31 | $1.59 Billion | -11.98% |
| 1994-12-31 | $1.81 Billion | +5.49% |
| 1993-12-31 | $1.71 Billion | -11.92% |
| 1992-12-31 | $1.95 Billion | -9.94% |
| 1991-12-31 | $2.16 Billion | +13.57% |
| 1990-12-31 | $1.90 Billion | +16.36% |
| 1989-12-31 | $1.63 Billion | +10.19% |
| 1988-12-31 | $1.48 Billion | +22.44% |
| 1987-12-31 | $1.21 Billion | +34.84% |
| 1986-12-31 | $898.40 Million | +31.54% |
| 1985-12-31 | $683.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Kellanova's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 626.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $9.36 Billion | 247.89% |
| Common Stock | $105.00 Million | 2.78% |
| Other Comprehensive Income | $-2.28 Billion | -60.29% |
| Total Equity | $3.77 Billion | 100.00% |
Kellanova Competitors by Market Cap
The table below lists competitors of Kellanova ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Kellogg Co.
LSE:0R1R
|
$28.64 Billion |
|
Devon Energy Corporation
NYSE:DVN
|
$28.65 Billion |
|
Prysmian SpA
F:AEU
|
$28.75 Billion |
|
Hewlett Packard Enterprise Co
NYSE:HPE
|
$28.77 Billion |
|
ENBNF
PINK:ENBNF
|
$28.61 Billion |
|
Coupang LLC
NYSE:CPNG
|
$28.59 Billion |
|
Workday Inc
NASDAQ:WDAY
|
$28.57 Billion |
|
Tata Consultancy Services Limited
NSE:TCS
|
$28.40 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Kellanova's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 3,175,000,000 to 3,775,000,000, a change of 600,000,000 (18.9%).
- Net income of 1,356,000,000 contributed positively to equity growth.
- Dividend payments of 776,000,000 reduced retained earnings.
- Share repurchases of 213,000,000 reduced equity.
- New share issuances of 213,000,000 increased equity.
- Other comprehensive income decreased equity by 235,000,000.
- Other factors increased equity by 255,000,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.36 Billion | +35.92% |
| Dividends Paid | $776.00 Million | -20.56% |
| Share Repurchases | $213.00 Million | -5.64% |
| Share Issuances | $213.00 Million | +5.64% |
| Other Comprehensive Income | $-235.00 Million | -6.23% |
| Other Changes | $255.00 Million | +6.75% |
| Total Change | $- | 18.90% |
Book Value vs Market Value Analysis
This analysis compares Kellanova's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 7.65x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 60.25x to 7.65x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1985-12-31 | $1.38 | $83.44 | x |
| 1986-12-31 | $1.83 | $83.44 | x |
| 1987-12-31 | $2.45 | $83.44 | x |
| 1988-12-31 | $3.03 | $83.44 | x |
| 1989-12-31 | $3.76 | $83.44 | x |
| 1990-12-31 | $3.93 | $83.44 | x |
| 1991-12-31 | $4.49 | $83.44 | x |
| 1992-12-31 | $4.06 | $83.44 | x |
| 1993-12-31 | $3.70 | $83.44 | x |
| 1994-12-31 | $4.02 | $83.44 | x |
| 1995-12-31 | $3.62 | $83.44 | x |
| 1996-12-31 | $3.02 | $83.44 | x |
| 1997-12-31 | $2.39 | $83.44 | x |
| 1998-12-31 | $2.18 | $83.44 | x |
| 1999-12-31 | $2.00 | $83.44 | x |
| 2000-12-31 | $2.21 | $83.44 | x |
| 2001-12-31 | $2.13 | $83.44 | x |
| 2002-12-31 | $2.17 | $83.44 | x |
| 2003-12-31 | $3.52 | $83.44 | x |
| 2004-12-31 | $5.42 | $83.44 | x |
| 2005-12-31 | $5.50 | $83.44 | x |
| 2006-12-31 | $5.17 | $83.44 | x |
| 2007-12-31 | $6.32 | $83.44 | x |
| 2008-12-31 | $3.76 | $83.44 | x |
| 2009-12-31 | $5.92 | $83.44 | x |
| 2010-12-31 | $5.71 | $83.44 | x |
| 2011-12-31 | $4.93 | $83.44 | x |
| 2012-12-31 | $6.68 | $83.44 | x |
| 2013-12-31 | $9.71 | $83.44 | x |
| 2014-12-31 | $7.75 | $83.44 | x |
| 2015-12-31 | $5.98 | $83.44 | x |
| 2016-12-31 | $5.40 | $83.44 | x |
| 2017-12-31 | $6.30 | $83.44 | x |
| 2018-12-31 | $7.47 | $83.44 | x |
| 2019-12-31 | $8.01 | $83.44 | x |
| 2020-12-31 | $9.02 | $83.44 | x |
| 2021-12-31 | $10.85 | $83.44 | x |
| 2022-12-31 | $11.45 | $83.44 | x |
| 2023-12-31 | $9.21 | $83.44 | x |
| 2024-12-31 | $10.91 | $83.44 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kellanova utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 35.92%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.64%
- • Asset Turnover: 0.82x
- • Equity Multiplier: 4.14x
- Recent ROE (35.92%) is below the historical average (42.81%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1985 | 41.16% | 9.59% | 1.70x | 2.53x | $212.80 Million |
| 1986 | 35.50% | 9.55% | 1.60x | 2.32x | $229.06 Million |
| 1987 | 32.68% | 10.44% | 1.41x | 2.21x | $274.76 Million |
| 1988 | 32.39% | 11.05% | 1.32x | 2.22x | $332.08 Million |
| 1989 | 25.83% | 9.07% | 1.37x | 2.07x | $258.66 Million |
| 1990 | 26.44% | 9.70% | 1.38x | 1.97x | $312.62 Million |
| 1991 | 28.06% | 10.47% | 1.47x | 1.82x | $390.02 Million |
| 1992 | 22.17% | 6.97% | 1.54x | 2.06x | $236.68 Million |
| 1993 | 39.73% | 10.81% | 1.49x | 2.47x | $509.36 Million |
| 1994 | 39.03% | 10.75% | 1.47x | 2.47x | $524.65 Million |
| 1995 | 30.82% | 7.00% | 1.59x | 2.77x | $331.21 Million |
| 1996 | 41.41% | 7.95% | 1.32x | 3.94x | $402.76 Million |
| 1997 | 54.71% | 7.99% | 1.40x | 4.89x | $446.20 Million |
| 1998 | 56.48% | 7.43% | 1.34x | 5.68x | $413.62 Million |
| 1999 | 41.60% | 4.84% | 1.45x | 5.91x | $256.98 Million |
| 2000 | 65.48% | 9.66% | 1.24x | 5.46x | $497.95 Million |
| 2001 | 54.34% | 6.27% | 0.73x | 11.90x | $386.45 Million |
| 2002 | 80.54% | 8.68% | 0.81x | 11.42x | $631.39 Million |
| 2003 | 54.54% | 8.93% | 0.87x | 7.03x | $642.78 Million |
| 2004 | 39.46% | 9.26% | 0.91x | 4.68x | $664.88 Million |
| 2005 | 42.91% | 9.63% | 0.96x | 4.63x | $751.60 Million |
| 2006 | 48.53% | 9.21% | 1.02x | 5.18x | $797.10 Million |
| 2007 | 43.67% | 9.37% | 1.03x | 4.51x | $850.40 Million |
| 2008 | 79.28% | 8.95% | 1.17x | 7.56x | $1.00 Billion |
| 2009 | 53.35% | 9.64% | 1.12x | 4.93x | $984.80 Million |
| 2010 | 59.64% | 10.38% | 1.05x | 5.49x | $1.07 Billion |
| 2011 | 48.22% | 6.56% | 1.11x | 6.65x | $686.40 Million |
| 2012 | 39.98% | 6.77% | 0.94x | 6.31x | $720.60 Million |
| 2013 | 50.97% | 12.22% | 0.96x | 4.37x | $1.45 Billion |
| 2014 | 22.66% | 4.33% | 0.96x | 5.43x | $353.10 Million |
| 2015 | 28.85% | 4.54% | 0.89x | 7.17x | $401.20 Million |
| 2016 | 36.60% | 5.39% | 0.86x | 7.91x | $508.00 Million |
| 2017 | 57.58% | 9.76% | 0.79x | 7.51x | $1.04 Billion |
| 2018 | 51.36% | 9.86% | 0.76x | 6.84x | $1.08 Billion |
| 2019 | 34.95% | 7.07% | 0.77x | 6.39x | $685.30 Million |
| 2020 | 41.07% | 9.28% | 0.77x | 5.78x | $966.80 Million |
| 2021 | 40.19% | 12.73% | 0.65x | 4.89x | $1.12 Billion |
| 2022 | 24.41% | 7.60% | 0.68x | 4.69x | $567.90 Million |
| 2023 | 29.95% | 7.25% | 0.84x | 4.92x | $633.50 Million |
| 2024 | 35.92% | 10.64% | 0.82x | 4.14x | $978.50 Million |
Industry Comparison
This section compares Kellanova's net assets metrics with peer companies in the Packaged Foods industry.
Industry Context
- Industry: Packaged Foods
- Average net assets among peers: $5,681,533,529
- Average return on equity (ROE) among peers: 0.04%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Kellanova (K) | $4.29 Billion | 41.16% | 2.64x | $28.63 Billion |
| Above Food Ingredients Inc. Common Stock (ABVE) | $30.90K | -3.31% | 7.66x | $18.76 Million |
| The a2 Milk Company Limited (ACOPF) | $7.27 Million | -30.19% | 0.14x | $3.91 Billion |
| Ayujoy Herbals Ltd (AJOY) | $22.20 Million | 29.29% | 0.00x | $95.71 |
| Alfa S.A.B. de C.V (ALFFF) | $53.35 Billion | 7.36% | 3.80x | $2.16 Billion |
| Amincor Inc (AMNCB) | $34.44 Million | -63.76% | 0.81x | $2.24K |
| Armanino Foods New (AMNF) | $21.40 Million | 30.30% | 0.33x | $72.33K |
| Amira Nature Foods Ltd (ANFIF) | $303.22 Million | 8.27% | 0.89x | $128.79 |
| AAK AB (publ.) (ARHUF) | $2.44 Billion | 12.85% | 2.63x | $5.07 Billion |
| Artisan Consumer Goods Inc (ARRT) | $-326.75K | 0.00% | 0.00x | $279.39K |
| ARYZTA AG (ARZTF) | $632.10 Million | 9.58% | 2.04x | $53.13 Million |