{ "ok": true, "cik": "1758021", "ticker": "KRT", "name": "Karat Packaging Inc.", "filings": [ { "form": "10-Q", "filed": "2026-08-07", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000026/0001758021-26-000026-index.htm" }, { "form": "8-K", "filed": "2026-08-06", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000025/0001758021-26-000025-index.htm" }, { "form": "8-K", "filed": "2026-08-05", "items": [ "8.01 Other Events", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000024/0001758021-26-000024-index.htm" }, { "form": "8-K", "filed": "2026-06-17", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000023/0001758021-26-000023-index.htm" }, { "form": "10-Q", "filed": "2026-05-08", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000021/0001758021-26-000021-index.htm" }, { "form": "8-K", "filed": "2026-05-07", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000019/0001758021-26-000019-index.htm" } ], "events12m": 10, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "4.01", "label": "Auditor change", "count": 1, "latest": { "filed": "2026-03-17", "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000012/0001758021-26-000012-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001758021.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1758021" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up Karat Packaging Inc. ($KRT). Last filing: 10-Q, 2026-08-07. 10 event filings (8-K) in the past twelve months. Auditor change (8-K Item 4.01) filed 2026-03-17.", "auditor": { "changes": [ { "filed": "2026-03-17", "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000012/0001758021-26-000012-index.htm" } ], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 467743000, "revenueGrowth1y": 0.10673563115043083, "revenueGrowthPerYear": 0.06451974815936778, "yearsOfData": 5, "operatingMargin": 0.08854007435707215, "operatingMarginPrior": 0.08934702212084716, "netMargin": 0.0698332203795674, "operatingCashFlow": 33815000, "capitalSpending": 756000, "freeCashFlow": 33059000, "researchAndDevelopment": null, "researchShareOfRevenue": null, "cash": 37880000, "longTermDebt": null, "longTermDebtChange": null, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 364244000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 422957000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 405651000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 422633000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 467743000 } ], "totalEquity": 149417000, "totalAssets": 287686000, "equityRatio": 0.5193752911160084, "returnOnEquity": 0.21860966288976488, "dividendsPaid": 36100000, "payoutRatio": 1.1051922605927014, "dividendPerShare": 1.8, "dividendYearsRising": 4, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 1.57, "sharesOutstanding": 20180070, "bookValuePerShare": 7.404186407678467, "revenuePerShare": 23.178462710981677, "range80": { "low": 421466425.2483316, "high": 571467243.6989594, "baseline": 500684796.09621686, "n": 4309, "band": "b01", "bandLabel": "$100M–1B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.08248151614805156, "classVolatility": 0.1022985825903761, "volatility": 0.0929198593038143 }, "ifPaceHeld": { "low": 421466425.2483316, "high": 571467243.6989594 } }, "edgarette": "🔖 Exposure: revenue $467.7M (FY2025). Experience: revenue up 10.7% on the year, up 6.5% a year over 4 years; operating margin 8.9%, down from 8.9%. Soundness: equity 51.9% of assets, return on equity 21.9%, payout 110.5% of profit, dividend per share up 4 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $421.5M and $571.5M next year (method v4.1: its own 4-year record of growth weighed at 50% against $100M–1B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $390.2M to $619.1M. A statistical range, not company guidance. Against peers (8 filers, $50M+ revenue, plastics products, nec): operating margin 8.9% against a 8.9% median; growth 10.7% against 2.1%.", "peers": { "sic": 3089, "sicDescription": "Plastics Products, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "3089", "growth": [ 0.0208, 8 ], "opMargin": [ 0.0894, 8 ] }, "summary": "Karat Packaging (KRT) grew revenue 10.7% in FY2025 to $468 million, operating margin 8.9%, in line with the 8.9% median for plastics products, nec, equity 51.9% of assets, and dividend per share up 4 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
Karat Packaging Inc. against its own record and its peers
Operating marginPeer median 8.9%8.9%Revenue, on the yearPeer median 2.1%10.7%Equity of assets51.9%Return on equity21.9%Payout of profit110.5%No peer group large enough for a median
", "chartHorizon": "
Handed back now, or kept to compound · of each dollar of profit
110.5% paid outMore was paid out than was earned in the year.Handed back per share$1.8up 4 years runningGrowth its own profit can fund0.0%managed 10.7% last year

Gold paid out, navy kept. Kept share × return on equity = the growth it can fund itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 2, "hits": 2, "rate": 1, "method": "v4", "byYear": { "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T22:12:02.473Z", "hash": "38c7b9d0f388c86c", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Karat Packaging (KRT) grew revenue 10.7% in FY2025 to $468 million, operating margin 8.9%, in line with the 8.9% median for plastics products, nec, equity 51.9% of assets, and dividend per share up 4 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 467743000, "totalDebt": null, "cash": 37880000 }, "experience": { "revenueGrowth1y": 0.10673563115043083, "revenueGrowthPerYear": 0.06451974815936778, "operatingMargin": 0.08854007435707215, "operatingMarginPrior": 0.08934702212084716, "netMargin": 0.0698332203795674, "freeCashFlow": 33059000 }, "soundness": { "equityRatio": 0.5193752911160084, "returnOnEquity": 0.21860966288976488, "payoutRatio": 1.1051922605927014, "dividendPerShare": 1.8, "dividendYearsRising": 4, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 3089, "sicDescription": "Plastics Products, NEC", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "3089", "growth": [ 0.0208, 8 ], "opMargin": [ 0.0894, 8 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": { "filed": "2026-03-17", "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000012/0001758021-26-000012-index.htm" } }, "healthWatch": { "window": "last 12 months", "since": "2025-09-27", "signals": [ { "code": "4.01", "label": "Auditor change", "count": 1, "latest": { "filed": "2026-03-17", "url": "https://www.sec.gov/Archives/edgar/data/1758021/000175802126000012/0001758021-26-000012-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 421466425.2483316, "high": 571467243.6989594, "baseline": 500684796.09621686, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4309, "sizeBand": "$100M–1B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.08248151614805156, "classVolatility": 0.1022985825903761, "pricedVolatility": 0.0929198593038143, "k": 3 }, "stress": { "low": 390221590.6864539, "high": 619136699.3838823, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 2, "hits": 2, "rate": 1, "method": "v4", "byYear": { "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-27T22:12:02.473Z", "hash": "38c7b9d0f388c86c", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001758021.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1758021" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0723, "growth3y": 0.0341, "volatility": 0.0825, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.5194, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "steady", "inside": "Turns 7.2% of revenue into operating cash; revenue growing 3.4% a year over three years; pays and raised its dividend.", "outside": "Among $100M-1B companies: 45th percentile for cash, 43rd for growth.", "emoji": "🐂", "label": "Steady earner", "plain": "steady and paying a dividend, with average cash" }, "band": "$100M-1B", "cashPctInClass": 45, "growthPctInClass": 43, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "warning", "text": "filed auditor change in the last 12 months" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 33815000, "investing": 25399000, "financing": -52918000, "capitalSpending": 756000, "free": 33059000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 8679000, "free": 4504000 }, { "fiscalYearEnd": "2022-12-31", "operating": 29474000, "free": 26817000 }, { "fiscalYearEnd": "2023-12-31", "operating": 53379000, "free": 50544000 }, { "fiscalYearEnd": "2024-12-31", "operating": 47982000, "free": 47048000 }, { "fiscalYearEnd": "2025-12-31", "operating": 33815000, "free": 33059000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 37880000, "shortTerm": 0, "longTerm": null, "equityHoldings": null, "totalAssets": 287686000, "ladder": null, "currentRatio": 2.3, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0723, "growth3y": 0.0341, "volatility": 0.0825, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.5194, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "steady", "inside": "Turns 7.2% of revenue into operating cash; revenue growing 3.4% a year over three years; pays and raised its dividend.", "outside": "Among $100M-1B companies: 45th percentile for cash, 43rd for growth.", "emoji": "🐂", "label": "Steady earner", "plain": "steady and paying a dividend, with average cash" }, "band": "$100M-1B", "cashPctInClass": 45, "growthPctInClass": 43, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "warning", "text": "filed auditor change in the last 12 months" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 33815000, "investing": 25399000, "financing": -52918000, "capitalSpending": 756000, "free": 33059000, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 8679000, "free": 4504000 }, { "fiscalYearEnd": "2022-12-31", "operating": 29474000, "free": 26817000 }, { "fiscalYearEnd": "2023-12-31", "operating": 53379000, "free": 50544000 }, { "fiscalYearEnd": "2024-12-31", "operating": 47982000, "free": 47048000 }, { "fiscalYearEnd": "2025-12-31", "operating": 33815000, "free": 33059000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 37880000, "shortTerm": 0, "longTerm": null, "equityHoldings": null, "totalAssets": 287686000, "ladder": null, "currentRatio": 2.3, "unrealizedGain": null, "unrealizedLoss": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }