Intrinsic value of Kroger Company (The) - KR

Previous Close

$21.89

  Intrinsic Value

$24.43

stock screener

  Rating & Target

hold

+12%

Previous close

$21.89

 
Intrinsic value

$24.43

 
Up/down potential

+12%

 
Rating

hold

We calculate the intrinsic value of KR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 17.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  125,115
  127,993
  131,282
  134,975
  139,067
  143,557
  148,446
  153,739
  159,440
  165,559
  172,105
  179,090
  186,527
  194,431
  202,818
  211,707
  221,115
  231,064
  241,577
  252,677
  264,389
  276,741
  289,760
  303,478
  317,926
  333,137
  349,148
  365,997
  383,722
  402,366
Variable operating expenses, $m
  121,354
  124,136
  127,316
  130,886
  134,841
  139,182
  143,908
  149,024
  154,536
  160,451
  166,377
  173,130
  180,319
  187,960
  196,068
  204,661
  213,756
  223,374
  233,537
  244,268
  255,590
  267,531
  280,117
  293,378
  307,345
  322,050
  337,528
  353,816
  370,951
  388,974
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  121,354
  124,136
  127,316
  130,886
  134,841
  139,182
  143,908
  149,024
  154,536
  160,451
  166,377
  173,130
  180,319
  187,960
  196,068
  204,661
  213,756
  223,374
  233,537
  244,268
  255,590
  267,531
  280,117
  293,378
  307,345
  322,050
  337,528
  353,816
  370,951
  388,974
Operating income, $m
  3,762
  3,857
  3,967
  4,090
  4,226
  4,375
  4,538
  4,714
  4,904
  5,108
  5,728
  5,960
  6,208
  6,471
  6,750
  7,046
  7,359
  7,690
  8,040
  8,409
  8,799
  9,210
  9,644
  10,100
  10,581
  11,087
  11,620
  12,181
  12,771
  13,391
EBITDA, $m
  6,448
  6,596
  6,765
  6,956
  7,167
  7,398
  7,650
  7,923
  8,217
  8,532
  8,869
  9,229
  9,612
  10,020
  10,452
  10,910
  11,395
  11,908
  12,449
  13,021
  13,625
  14,262
  14,932
  15,639
  16,384
  17,168
  17,993
  18,861
  19,775
  20,735
Interest expense (income), $m
  505
  842
  875
  913
  957
  1,006
  1,061
  1,121
  1,186
  1,256
  1,332
  1,414
  1,501
  1,594
  1,693
  1,799
  1,911
  2,029
  2,154
  2,287
  2,427
  2,575
  2,731
  2,896
  3,069
  3,252
  3,445
  3,648
  3,861
  4,085
  4,322
Earnings before tax, $m
  2,920
  2,982
  3,053
  3,132
  3,219
  3,314
  3,417
  3,528
  3,647
  3,775
  4,314
  4,459
  4,614
  4,777
  4,951
  5,135
  5,330
  5,536
  5,753
  5,982
  6,224
  6,479
  6,748
  7,031
  7,329
  7,642
  7,973
  8,320
  8,685
  9,070
Tax expense, $m
  788
  805
  824
  846
  869
  895
  923
  953
  985
  1,019
  1,165
  1,204
  1,246
  1,290
  1,337
  1,387
  1,439
  1,495
  1,553
  1,615
  1,681
  1,749
  1,822
  1,898
  1,979
  2,063
  2,153
  2,246
  2,345
  2,449
Net income, $m
  2,131
  2,177
  2,229
  2,287
  2,350
  2,419
  2,495
  2,576
  2,663
  2,756
  3,149
  3,255
  3,368
  3,488
  3,614
  3,749
  3,891
  4,041
  4,200
  4,367
  4,544
  4,730
  4,926
  5,132
  5,350
  5,579
  5,820
  6,074
  6,340
  6,621

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  37,937
  38,809
  39,807
  40,926
  42,167
  43,529
  45,011
  46,616
  48,344
  50,200
  52,185
  54,303
  56,558
  58,954
  61,497
  64,192
  67,045
  70,062
  73,250
  76,615
  80,167
  83,912
  87,859
  92,019
  96,400
  101,012
  105,867
  110,975
  116,350
  122,003
Adjusted assets (=assets-cash), $m
  37,937
  38,809
  39,807
  40,926
  42,167
  43,529
  45,011
  46,616
  48,344
  50,200
  52,185
  54,303
  56,558
  58,954
  61,497
  64,192
  67,045
  70,062
  73,250
  76,615
  80,167
  83,912
  87,859
  92,019
  96,400
  101,012
  105,867
  110,975
  116,350
  122,003
Revenue / Adjusted assets
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
  3.298
Average production assets, $m
  23,522
  24,063
  24,681
  25,375
  26,145
  26,989
  27,908
  28,903
  29,975
  31,125
  32,356
  33,669
  35,067
  36,553
  38,130
  39,801
  41,570
  43,440
  45,417
  47,503
  49,705
  52,027
  54,475
  57,054
  59,770
  62,630
  65,640
  68,807
  72,140
  75,645
Working capital, $m
  125
  128
  131
  135
  139
  144
  148
  154
  159
  166
  172
  179
  187
  194
  203
  212
  221
  231
  242
  253
  264
  277
  290
  303
  318
  333
  349
  366
  384
  402
Total debt, $m
  16,203
  16,914
  17,726
  18,637
  19,647
  20,755
  21,962
  23,268
  24,675
  26,186
  27,801
  29,525
  31,361
  33,312
  35,382
  37,576
  39,898
  42,353
  44,948
  47,688
  50,579
  53,627
  56,841
  60,226
  63,792
  67,547
  71,498
  75,657
  80,032
  84,633
Total liabilities, $m
  30,880
  31,591
  32,403
  33,314
  34,324
  35,432
  36,639
  37,945
  39,352
  40,863
  42,478
  44,202
  46,038
  47,989
  50,059
  52,253
  54,575
  57,030
  59,625
  62,365
  65,256
  68,304
  71,518
  74,903
  78,469
  82,224
  86,175
  90,334
  94,709
  99,310
Total equity, $m
  7,056
  7,219
  7,404
  7,612
  7,843
  8,096
  8,372
  8,671
  8,992
  9,337
  9,706
  10,100
  10,520
  10,965
  11,439
  11,940
  12,470
  13,032
  13,624
  14,250
  14,911
  15,608
  16,342
  17,115
  17,930
  18,788
  19,691
  20,641
  21,641
  22,693
Total liabilities and equity, $m
  37,936
  38,810
  39,807
  40,926
  42,167
  43,528
  45,011
  46,616
  48,344
  50,200
  52,184
  54,302
  56,558
  58,954
  61,498
  64,193
  67,045
  70,062
  73,249
  76,615
  80,167
  83,912
  87,860
  92,018
  96,399
  101,012
  105,866
  110,975
  116,350
  122,003
Debt-to-equity ratio
  2.300
  2.340
  2.390
  2.450
  2.510
  2.560
  2.620
  2.680
  2.740
  2.800
  2.860
  2.920
  2.980
  3.040
  3.090
  3.150
  3.200
  3.250
  3.300
  3.350
  3.390
  3.440
  3.480
  3.520
  3.560
  3.600
  3.630
  3.670
  3.700
  3.730
Adjusted equity ratio
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186
  0.186

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  2,131
  2,177
  2,229
  2,287
  2,350
  2,419
  2,495
  2,576
  2,663
  2,756
  3,149
  3,255
  3,368
  3,488
  3,614
  3,749
  3,891
  4,041
  4,200
  4,367
  4,544
  4,730
  4,926
  5,132
  5,350
  5,579
  5,820
  6,074
  6,340
  6,621
Depreciation, amort., depletion, $m
  2,686
  2,739
  2,799
  2,866
  2,941
  3,023
  3,112
  3,209
  3,313
  3,424
  3,141
  3,269
  3,405
  3,549
  3,702
  3,864
  4,036
  4,217
  4,409
  4,612
  4,826
  5,051
  5,289
  5,539
  5,803
  6,081
  6,373
  6,680
  7,004
  7,344
Funds from operations, $m
  4,818
  4,916
  5,028
  5,153
  5,291
  5,442
  5,607
  5,784
  5,975
  6,180
  6,290
  6,524
  6,772
  7,036
  7,316
  7,613
  7,927
  8,259
  8,609
  8,979
  9,369
  9,781
  10,215
  10,672
  11,153
  11,660
  12,193
  12,754
  13,344
  13,965
Change in working capital, $m
  2
  3
  3
  4
  4
  4
  5
  5
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  17
  18
  19
Cash from operations, $m
  4,815
  4,913
  5,024
  5,149
  5,287
  5,438
  5,602
  5,779
  5,970
  6,174
  6,284
  6,517
  6,765
  7,028
  7,308
  7,604
  7,917
  8,249
  8,598
  8,968
  9,358
  9,769
  10,202
  10,658
  11,138
  11,644
  12,177
  12,737
  13,326
  13,946
Maintenance CAPEX, $m
  -2,242
  -2,284
  -2,336
  -2,396
  -2,464
  -2,538
  -2,620
  -2,710
  -2,806
  -2,910
  -3,022
  -3,141
  -3,269
  -3,405
  -3,549
  -3,702
  -3,864
  -4,036
  -4,217
  -4,409
  -4,612
  -4,826
  -5,051
  -5,289
  -5,539
  -5,803
  -6,081
  -6,373
  -6,680
  -7,004
New CAPEX, $m
  -426
  -541
  -618
  -694
  -769
  -844
  -919
  -995
  -1,072
  -1,150
  -1,231
  -1,313
  -1,398
  -1,486
  -1,577
  -1,671
  -1,769
  -1,871
  -1,976
  -2,087
  -2,202
  -2,322
  -2,448
  -2,579
  -2,716
  -2,860
  -3,010
  -3,167
  -3,332
  -3,505
Cash from investing activities, $m
  -2,668
  -2,825
  -2,954
  -3,090
  -3,233
  -3,382
  -3,539
  -3,705
  -3,878
  -4,060
  -4,253
  -4,454
  -4,667
  -4,891
  -5,126
  -5,373
  -5,633
  -5,907
  -6,193
  -6,496
  -6,814
  -7,148
  -7,499
  -7,868
  -8,255
  -8,663
  -9,091
  -9,540
  -10,012
  -10,509
Free cash flow, $m
  2,147
  2,088
  2,070
  2,059
  2,054
  2,055
  2,062
  2,074
  2,092
  2,114
  2,031
  2,062
  2,098
  2,138
  2,182
  2,231
  2,284
  2,342
  2,405
  2,472
  2,544
  2,621
  2,703
  2,790
  2,883
  2,982
  3,086
  3,197
  3,314
  3,437
Issuance/(repayment) of debt, $m
  614
  710
  812
  911
  1,010
  1,108
  1,207
  1,306
  1,407
  1,510
  1,616
  1,724
  1,836
  1,951
  2,070
  2,194
  2,322
  2,456
  2,595
  2,740
  2,891
  3,049
  3,213
  3,386
  3,566
  3,754
  3,952
  4,158
  4,375
  4,602
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  614
  710
  812
  911
  1,010
  1,108
  1,207
  1,306
  1,407
  1,510
  1,616
  1,724
  1,836
  1,951
  2,070
  2,194
  2,322
  2,456
  2,595
  2,740
  2,891
  3,049
  3,213
  3,386
  3,566
  3,754
  3,952
  4,158
  4,375
  4,602
Total cash flow (excl. dividends), $m
  2,761
  2,798
  2,882
  2,970
  3,064
  3,164
  3,269
  3,381
  3,499
  3,624
  3,647
  3,786
  3,934
  4,089
  4,252
  4,425
  4,607
  4,798
  4,999
  5,211
  5,435
  5,669
  5,916
  6,176
  6,449
  6,736
  7,038
  7,355
  7,689
  8,039
Retained Cash Flow (-), $m
  -125
  -162
  -186
  -208
  -231
  -253
  -276
  -298
  -322
  -345
  -369
  -394
  -419
  -446
  -473
  -501
  -531
  -561
  -593
  -626
  -661
  -697
  -734
  -774
  -815
  -858
  -903
  -950
  -1,000
  -1,051
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  2,636
  2,636
  2,696
  2,762
  2,833
  2,910
  2,993
  3,082
  3,177
  3,279
  3,278
  3,393
  3,514
  3,643
  3,779
  3,924
  4,076
  4,237
  4,406
  4,585
  4,774
  4,973
  5,182
  5,402
  5,634
  5,878
  6,135
  6,405
  6,689
  6,988
Discount rate, %
  9.10
  9.56
  10.03
  10.53
  11.06
  11.61
  12.19
  12.80
  13.44
  14.12
  14.82
  15.56
  16.34
  17.16
  18.02
  18.92
  19.86
  20.86
  21.90
  23.00
  24.15
  25.35
  26.62
  27.95
  29.35
  30.82
  32.36
  33.97
  35.67
  37.46
PV of cash for distribution, $m
  2,416
  2,196
  2,024
  1,850
  1,677
  1,505
  1,338
  1,176
  1,021
  875
  717
  598
  491
  397
  315
  245
  187
  140
  102
  73
  51
  34
  23
  15
  9
  5
  3
  2
  1
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

The Kroger Co. (Kroger) manufactures and processes food for sale in its supermarkets. The Company operates supermarkets, multi-department stores, jewelry stores and convenience stores throughout the United States. As of January 28, 2017, it had operated approximately 4,000 owned or leased supermarkets, convenience stores, fine jewelry stores, distribution warehouses and food production plants through divisions, subsidiaries or affiliates. These facilities are located throughout the United States. As of January 28, 2017, Kroger operated, either directly or through its subsidiaries, 2,796 supermarkets under a range of local banner names, of which 2,255 had pharmacies and 1,445 had fuel centers. As of January 28, 2017, the Company offered ClickList and Harris Teeter ExpressLane, personalized, order online, pick up at the store services at 637 of its supermarkets. P$$T, Check This Out and Heritage Farm are the three brands. Its other brands include Simple Truth and Simple Truth Organic.

FINANCIAL RATIOS  of  Kroger Company (The) (KR)

Valuation Ratios
P/E Ratio 10.2
Price to Sales 0.2
Price to Book 3
Price to Tangible Book
Price to Cash Flow 4.7
Price to Free Cash Flow 35.3
Growth Rates
Sales Growth Rate 5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 10.5%
Cap. Spend. - 3 Yr. Gr. Rate 9.7%
Financial Strength
Quick Ratio 0
Current Ratio 0.1
LT Debt to Equity 176.5%
Total Debt to Equity 210.2%
Interest Coverage 7
Management Effectiveness
Return On Assets 6.6%
Ret/ On Assets - 3 Yr. Avg. 6.9%
Return On Total Capital 10%
Ret/ On T. Cap. - 3 Yr. Avg. 10.5%
Return On Equity 29.2%
Return On Equity - 3 Yr. Avg. 31.5%
Asset Turnover 3.3
Profitability Ratios
Gross Margin 22.4%
Gross Margin - 3 Yr. Avg. 21.9%
EBITDA Margin 5%
EBITDA Margin - 3 Yr. Avg. 4.9%
Operating Margin 3%
Oper. Margin - 3 Yr. Avg. 3%
Pre-Tax Margin 2.5%
Pre-Tax Margin - 3 Yr. Avg. 2.6%
Net Profit Margin 1.7%
Net Profit Margin - 3 Yr. Avg. 1.7%
Effective Tax Rate 32.8%
Eff/ Tax Rate - 3 Yr. Avg. 33.6%
Payout Ratio 21.7%

KR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KR stock intrinsic value calculation we used $122662 million for the last fiscal year's total revenue generated by Kroger Company (The). The default revenue input number comes from 0001 income statement of Kroger Company (The). You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our KR stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.1%, whose default value for KR is calculated based on our internal credit rating of Kroger Company (The), is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Kroger Company (The).
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of KR stock the variable cost ratio is equal to 97%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for KR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Kroger Company (The).

Corporate tax rate of 27% is the nominal tax rate for Kroger Company (The). In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the KR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for KR are equal to 18.8%.

Life of production assets of 10.3 years is the average useful life of capital assets used in Kroger Company (The) operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for KR is equal to 0.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $6931 million for Kroger Company (The) - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 797.619 million for Kroger Company (The) is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Kroger Company (The) at the current share price and the inputted number of shares is $17.5 billion.

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