KinderCare Learning Companies, Inc.
KLC NYSE Services-Child Day Care Services Financials FY2022–FY2025
Last close · Oct 23, 2026
$1.77
0.6%
Revenue
Total sales reported in the income statement.
$2.7B
2.6%
vs prior year
Operating margin
Operating income as a share of revenue.
−0.7%
3.7 pts
Net income
Profit after all expenses, interest and tax.
−$113M
Free cash flow
Cash from operations minus capital spending.
$110M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−1.0%
4.6 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$210M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$3.98 EPS (TTM)
What KinderCare Learning Companies, Inc. does
No business description yet.
- Legal name
- KinderCare Learning Companies, Inc.
- Fiscal year ends
- January 3, 2026
- Latest annual report
- 10-K · Mar 13, 2026
- Accession · CIK
- 0001193125-26-106342
0001873529
Revenue and margins
KinderCare Learning Companies, Inc. had $2.7B of revenue in fiscal 2025, up 2.6% on the year before.
FY22
Revenue $2.2B
FY23
Revenue $2.5B
FY24
Revenue $2.7B
FY25
Revenue $2.7B
Q3 '23
Revenue $624M
Q4 '23
Revenue $618M
Q1 '24
Revenue $655M
Q2 '24
Revenue $690M
Q3 '24
Revenue $671M
Q4 '24
Revenue $647M
Q1 '25
Revenue $668M
Q2 '25
Revenue $700M
Q3 '25
Revenue $677M
Q4 '25
Revenue $688M
Q1 '26
Revenue $673M
Q2 '26
Revenue $698M
FY22
Gross —
Operating 18.0%
Net 10.1%
FCF 9.3%
FY23
Gross —
Operating 11.0%
Net 4.1%
FCF 7.0%
FY24
Gross —
Operating 3.0%
Net −3.5%
FCF −0.6%
FY25
Gross —
Operating −0.7%
Net −4.1%
FCF 4.0%
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating 9.4%
Net 2.6%
FCF —
Q4 '23
Gross —
Operating 7.9%
Net 2.4%
FCF −7.0%
Q1 '24
Gross —
Operating 5.1%
Net −0.3%
FCF 6.1%
Q2 '24
Gross —
Operating 11.7%
Net 4.1%
FCF −3.3%
Q3 '24
Gross —
Operating 8.1%
Net 2.1%
FCF 6.7%
Q4 '24
Gross —
Operating −13.8%
Net −20.6%
FCF −12.1%
Q1 '25
Gross —
Operating 7.3%
Net 3.2%
FCF 11.2%
Q2 '25
Gross —
Operating 9.8%
Net 5.5%
FCF 0.1%
Q3 '25
Gross —
Operating 3.9%
Net 0.7%
FCF 9.2%
Q4 '25
Gross —
Operating −23.8%
Net −25.7%
FCF −4.1%
Q1 '26
Gross —
Operating −40.5%
Net −43.1%
FCF 0.2%
Q2 '26
Gross —
Operating 0.3%
Net −1.3%
FCF 6.5%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY22
Net income $219M
FY23
Net income $103M
FY24
Net income −$92.8M
FY25
Net income −$113M
Q3 '23
Net income $16.0M
Q4 '23
Net income $14.8M
Q1 '24
Net income −$1.8M
Q2 '24
Net income $28.5M
Q3 '24
Net income $14.0M
Q4 '24
Net income −$134M
Q1 '25
Net income $21.2M
Q2 '25
Net income $38.6M
Q3 '25
Net income $4.6M
Q4 '25
Net income −$177M
Q1 '26
Net income −$290M
Q2 '26
Net income −$8.8M
FY22
Diluted EPS $2.35
FY23
Diluted EPS $1.13
FY24
Diluted EPS −$0.96
FY25
Diluted EPS −$0.95
Q3 '23
Diluted EPS $0.18
Q4 '23
Diluted EPS $0.16
Q1 '24
Diluted EPS −$0.02
Q2 '24
Diluted EPS $0.32
Q3 '24
Diluted EPS $0.15
Q4 '24
Diluted EPS −$1.17
Q1 '25
Diluted EPS $0.18
Q2 '25
Diluted EPS $0.33
Q3 '25
Diluted EPS $0.04
Q4 '25
Diluted EPS −$1.50
Q1 '26
Diluted EPS −$2.45
Q2 '26
Diluted EPS −$0.07
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY22
Return on capital —
Return on equity 53.8%
Return on assets —
FY23
Return on capital 13.6%
Return on equity 22.4%
Return on assets 2.8%
FY24
Return on capital 3.6%
Return on equity −13.5%
Return on assets −2.5%
FY25
Return on capital −1.0%
Return on equity −13.9%
Return on assets −3.1%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $110M in fiscal 2025, 4.0% of revenue. Cash from operations minus capital spending.
FY22
Free cash flow $202M
FY23
Free cash flow $174M
FY24
Free cash flow −$16.4M
FY25
Free cash flow $110M
Q3 '23
Free cash flow —
Q4 '23
Free cash flow −$43.5M
Q1 '24
Free cash flow $40.0M
Q2 '24
Free cash flow −$22.9M
Q3 '24
Free cash flow $45.0M
Q4 '24
Free cash flow −$78.6M
Q1 '25
Free cash flow $75.1M
Q2 '25
Free cash flow $0.7M
Q3 '25
Free cash flow $62.6M
Q4 '25
Free cash flow −$28.1M
Q1 '26
Free cash flow $1.1M
Q2 '26
Free cash flow $45.4M
FY22
Cash from operations $342M
Capital spending $139M
FY23
Cash from operations $304M
Capital spending $129M
FY24
Cash from operations $116M
Capital spending $132M
FY25
Cash from operations $239M
Capital spending $128M
Cash from operations
Capital spending
Q3 '23
Cash from operations —
Capital spending —
Q4 '23
Cash from operations −$4.2M
Capital spending $39.3M
Q1 '24
Cash from operations $64.1M
Capital spending $24.1M
Q2 '24
Cash from operations $5.9M
Capital spending $28.8M
Q3 '24
Cash from operations $86.7M
Capital spending $41.7M
Q4 '24
Cash from operations −$40.8M
Capital spending $37.7M
Q1 '25
Cash from operations $98.4M
Capital spending $23.4M
Q2 '25
Cash from operations $35.0M
Capital spending $34.4M
Q3 '25
Cash from operations $101M
Capital spending $38.2M
Q4 '25
Cash from operations $4.3M
Capital spending $32.3M
Q1 '26
Cash from operations $31.1M
Capital spending $30.0M
Q2 '26
Cash from operations $73.4M
Capital spending $28.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
KinderCare Learning Companies, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 22.9%.
FY22
Dividends —
Buybacks $72.7M
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY22
Diluted shares 0.09B
FY23
Diluted shares 0.09B
FY24
Diluted shares 0.10B
FY25
Diluted shares 0.12B
Balance sheet
Cash, debt and the ratios that show how comfortably KinderCare Learning Companies, Inc. can carry it.
FY22
Cash $105M
Debt —
FY23
Cash $156M
Debt $1.3B
FY24
Cash $62.3M
Debt $931M
FY25
Cash $133M
Debt $931M
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Cash and short-term investments | $105M | $156M | $62.3M | $133M |
| Debt incl. finance leases | — | $1.3B | $931M | $931M |
| Net debt / EBITDA | — | 2.8x | 4.4x | 7.7x |
| Debt / equity | — | 2.5x | 1.1x | 1.2x |
| Interest coverage | 3.8x | 1.8x | 0.5x | −0.2x |
| Current ratio | — | 0.7x | 0.5x | 0.7x |
| Quick ratio | — | 0.7x | 0.5x | 0.7x |
| Total assets | — | $3.7B | $3.6B | $3.7B |
| Total liabilities | — | $3.1B | $2.8B | $3.0B |
| Shareholders' equity | $408M | $507M | $865M | $755M |
| Net debt (− = net cash) | — | $1.1B | $869M | $798M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✕ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✕ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | ✓ | ✓ |
| Current ratio rose | — | — | ✕ | ✓ |
| Share count didn't rise | — | ✓ | ✕ | ✕ |
| Gross margin rose | — | — | — | — |
| Revenue rose relative to assets | — | — | ✓ | ✕ |
| F-score | — / 3 | — / 4 | 4 / 8 | 4 / 8 |
| Accruals ratio | — | −5.5% | −5.7% | −9.5% |
| Altman Z'' | — | 0.53 | 0.14 | −0.06 |
4 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | $2.2B | $2.5B | $2.7B | $2.7B |
| Net interest income | $2.3M | — | $0.5M | — |
| Operating income | $389M | $275M | $79.3M | −$20.1M |
| Interest expense | $101M | $153M | $171M | $84.0M |
| Pretax income | $288M | $130M | −$78.2M | −$93.3M |
| Income tax | $68.6M | $27.4M | $14.6M | $19.5M |
| Net income | $219M | $103M | −$92.8M | −$113M |
| Diluted EPS | $2.35 | $1.13 | −$0.96 | −$0.95 |
| Diluted shares | 0.09B | 0.09B | 0.10B | 0.12B |
| Cash flow | ||||
| Cash from operations | $342M | $304M | $116M | $239M |
| Capital expenditure | $139M | $129M | $132M | $128M |
| Free cash flow | $202M | $174M | −$16.4M | $110M |
| Depreciation and amortization | $88.5M | $109M | $118M | $124M |
| Stock-based compensation | $9.9M | $12.6M | $144M | $11.8M |
| Acquisitions | $158M | $10.2M | $10.9M | $23.1M |
| Share buybacks | $72.7M | — | — | — |
| Dividends and buybacks | $72.7M | — | — | — |
| Balance sheet | ||||
| Cash and short-term investments | $105M | $156M | $62.3M | $133M |
| Total debt | — | $1.3B | $926M | $928M |
| Finance lease liabilities | — | — | $5.2M | $3.8M |
| Current assets | — | $283M | $215M | $358M |
| Current liabilities | — | $427M | $413M | $485M |
| Property and equipment, net | — | $396M | $419M | $418M |
| Goodwill | $1.1B | $1.1B | $1.1B | $965M |
| Intangible assets | — | $439M | $430M | $421M |
| Total assets | — | $3.7B | $3.6B | $3.7B |
| Total liabilities | — | $3.1B | $2.8B | $3.0B |
| Preferred stock | — | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $408M | $507M | $865M | $755M |
| Margins | ||||
| Operating margin | 18.0% | 11.0% | 3.0% | −0.7% |
| EBITDA margin | 22.1% | 15.3% | 7.4% | 3.8% |
| Net margin | 10.1% | 4.1% | −3.5% | −4.1% |
| FCF margin | 9.3% | 7.0% | −0.6% | 4.0% |
| Net interest share of revenue | 0.1% | — | 0.0% | — |
| Returns | ||||
| Return on capital | — | 13.6% | 3.6% | −1.0% |
| Return on capital employed | — | 8.5% | 2.5% | −0.6% |
| Return on equity | 53.8% | 22.4% | −13.5% | −13.9% |
| Return on assets | — | 2.8% | −2.5% | −3.1% |
| Growth | ||||
| Revenue growth | — | 15.9% | 6.1% | 2.6% |
| Net income growth | — | −53.2% | −190.5% | — |
| EPS growth | — | −51.9% | −185.0% | — |
| FCF growth | — | −13.7% | −109.4% | — |
| Share count change | — | −3.3% | 6.5% | 22.9% |
| Financial health | ||||
| Net debt / EBITDA | — | 2.8x | 4.4x | 7.7x |
| Debt / equity | — | 2.5x | 1.1x | 1.2x |
| Interest coverage | 3.8x | 1.8x | 0.5x | −0.2x |
| Current ratio | — | 0.7x | 0.5x | 0.7x |
| Quick ratio | — | 0.7x | 0.5x | 0.7x |
| Capital allocation | ||||
| Capex / revenue | 6.4% | 5.1% | 5.0% | 4.7% |
| Stock comp / revenue | 0.5% | 0.5% | 5.4% | 0.4% |
| Payouts / FCF | 35.9% | — | — | — |
| Quality scores | ||||
| Piotroski F-score | — | — | 4.0 | 4.0 |
| Altman Z'' | — | 0.5 | 0.1 | −0.1 |
| Accruals ratio | — | −5.5% | −5.7% | −9.5% |
Source: SEC EDGAR XBRL filings (CIK 0001873529). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.