Kroger management check
KR · Consumer Staples · Food Retail · CEO Mr. McMullen
Filings as of
3 good · 3 to watch · 1 flagged, across the seven questions below.
- Watch
Have owners done well?
Trailed its chosen peers$100 invested at the start of fiscal 2022 grew to $203, against $218 for the peer group the company picked itself.
- Flag
Does pay follow performance?
Pay moved against returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of -0.63 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Watch
What does the CEO cost owners?
1.4% of net income$14.0m of reported pay in fiscal 2026, against $1.0bn of net income.
- Watch
Do they own the stock?
Insiders are selling2 insiders sold $6.2m in the last six months and none bought.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -5.0% a year over the last three fiscal years. Stock-based pay was 0.1% of revenue in the latest year.
- Good
Is leadership stable?
9 leadership filings in 3 yearsCEO in the pay table: Mr. McMullen. 9 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Consumer Staples.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 41 | 31 | |
| Pay for performance | 18 | 84 | |
| CEO cost | 38 | 40 | |
| Skin in the game | — | — | 65 |
| Dilution | 100 | 60 | |
| Stable leadership | 80 | 70 | |
| Clean books | 100 | 100 |
Closest peers
Others in Food Retail, by management score. Kroger is 18th of 33 in its sector.
- 86CASYCasey's78
- 255BGBunge Global64
- 259DGDollar General64
- 275KRKroger63
- 291TGTTarget Corporation62
- 302KMBKimberly-Clark61
Pay versus performance
From the proxy statement filed May 13, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2026 | — | $14.0m | $13.9m | $6.3m | $203 | $218 | $1.0bn |
| 2025 | Mr. McMullen | $15.6m | $21.3m | $5.0m | $195 | $193 | $2.7bn |
| 2024 | — | $15.7m | $16.8m | $5.4m | $142 | $133 | $2.2bn |
| 2023 | — | $19.2m | $23.3m | $6.1m | $136 | $114 | $2.2bn |
| 2022 | — | $18.2m | $36.1m | $5.6m | $129 | $118 | $1.7bn |
The board says pay is tied most to Adjusted FIFO Operating Profit. Its other key measures: ●Adjusted FIFO Operating Profit, ●ID sales, without fuel, ●Adjusted net earnings per diluted share attributable to The Kroger Co..
Insiders and the CEO's stake
2 insiders sold $6.2m in the last six months and none bought.
- SoldMary Ellen AdcockExecutive Vice President$4.4mSep 18, 2026
- SoldYael CossetExecutive Vice President$1.8mJul 14, 2026
Leadership and governance on file
- Sep 2, 2026Leadership change8-K 5.02
- Jun 26, 2026Leadership change8-K 5.02
- May 27, 2026Leadership change8-K 5.02
- Feb 9, 2026Leadership change8-K 5.02
- Mar 20, 2025Leadership change8-K 5.02
- Mar 3, 2025Leadership change8-K 5.02
- Feb 13, 2025Leadership change8-K 5.02
- Nov 22, 2024Leadership change8-K 5.02
- Feb 5, 2024Leadership change8-K 5.02
Latest shareholder vote results: Jun 26, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $13.4bn returned to owners in buybacks and dividends, 137% of net income, and $897.0m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $137.9bn | $148.3bn | $150.0bn | $147.1bn | $147.6bn |
| Net income | $1.7bn | $2.2bn | $2.2bn | $2.7bn | $1.0bn |
| Stock-based pay | $203.0m | $190.0m | $172.0m | $175.0m | $157.0m |
| Buybacks | $1.6bn | $993.0m | $62.0m | $4.2bn | $2.7bn |
| Dividends | $589.0m | $682.0m | $796.0m | $883.0m | $885.0m |
| Diluted shares | 754m | 727m | 725m | 720m | 655m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.