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Maker and distributor of single-use foodservice packaging — cups, containers, utensils — for restaurants.
Maker and distributor of single-use foodservice packaging — cups, containers, utensils — for restaurants.
Imports much of its range from Asian suppliers (and makes some items, such as plastic cups and containers, itself in the US) and sells it to foodservice distributors and directly to restaurants, so profit rests on sourcing cost, shipping rates and tariffs. Alan Yu, a founder, is chairman and chief executive and holds a large stake.
Moat: none (distribution). Broad SKU catalog and distribution reach but low differentiation in a fragmented, price-competitive market.
Headquarters: Chino, California, US · Founded: 2000 · Employees: 696
Size Karat Packaging (KRT) is a United States Materials company (Containers/Packaging) with a market value of $669M, the 2522nd largest of 3,117 United States companies the cockpit tracks. Shares closed at $33.54 on 6 Nov 2026.
Performance Over six months the shares gained 19.5%, against -11.0% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 11.6% over the last twelve months (peer median +3.3%); the operating margin is 12.8% (peer median 6.3%).
Valuation It trades at 20.5× forward earnings against a peer median of 17.3× (6th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 16.5 points above its cost of capital (8.3% WACC).
Short interest Short interest is 3.5% of the free float (15 Oct 2026).
Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $493M | $468M | $423M | $406M | $423M |
| Revenue growth | — | +11% | +4% | -4% | — |
| Gross profit | $196M | $168M | $160M | $149M | $132M |
| EBITDA | $84.8M | $62.3M | $58.8M | $60.4M | $44.2M |
| Net income | $50.2M | $31.5M | $30.0M | $32.5M | $23.6M |
| Free cash flow | $51.2M | $29.3M | $43.9M | $44.0M | $14.7M |
| Capital expenditure | $5.52M | $4.50M | $4.07M | $9.33M | $14.7M |
| Total debt | $72.7M | $79.9M | $92.9M | $71.0M | $58.6M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KRT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -37.7% | -6.9% | lowest of 21 |
| 6-month return | +19.5% | -11.0% | 5th highest of 21 |
| Distance from 52-week high | -40.2% | -33.3% | 10th lowest of 21 |
| Revenue growth (TTM) | +11.6% | +3.3% | 6th highest of 21 |
| Operating margin | 12.8% | 6.3% | 4th highest of 21 |
| Forward P/E | 20.5× | 17.3× | 6th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | -2.4% | 3.9% | 5th least demanding of 12 |
| Growth delivered (Del g) | +9.6% | +8.4% | 4th highest of 12 |
| Hurdle (Req g minus delivered) | -12.0 pp | +0.8 pp | 5th least demanding of 12 |
| ROIC minus cost of capital | +16.5 pp | +0.9 pp | highest of 21 |
| EV / EBITDA | 8.2× | 8.5× | 6th cheapest of 12 |
| Net debt / EBITDA | 0.2× | 0.8× | 6th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Karat Packaging KRT | United States | $669M | +19% | +12% | 13% | 20.5× | -2.4% | +9.6% |
| Shanghai Sunglow Packaging Technology 603499.SS | China | $669M | -29% | +9% | 10% | n/a | 24.1% | +16.4% |
| Ton Yi Industrial 9907.TW | Taiwan | $678M | -19% | -11% | 4% | 16.9× | -6.3% | +8.8% |
| Zhejiang Zhongcheng Packing Material 002522.SZ | China | $658M | -24% | +4% | 5% | n/a | 14.5% | +2.1% |
| Okamoto Industries 5122.T | Japan | $648M | +6% | 0% | 6% | n/a | n/a | n/a |
| Pum-tech Korea 251970.KS | South Korea | $642M | +70% | +3% | 15% | 15.0× | -4.2% | +13.6% |
| Kohsoku 7504.T | Japan | $629M | +75% | +8% | 4% | 21.6× | n/a | n/a |
| Zignago Vetro ZV.MI | Italy | $628M | -10% | 0% | 8% | 16.8× | 12.7% | +7.7% |
| Oeneo SBT.PA | France | $617M | -1% | -10% | 14% | 25.4× | 1.0% | +0.2% |
| Ningbo Exciton Technology 300566.SZ | China | $730M | -2% | -2% | 9% | 17.9× | 8.4% | +8.4% |
| Planetree International Development 0613.HK | Hong Kong | $733M | +151% | -62% | 1,735% | n/a | n/a | n/a |
| Ningbo Homelink Eco-iTech 301193.SZ | China | $602M | -38% | +44% | -4% | n/a | n/a | n/a |
| EPL EPL.NS | India | $752M | -6% | +17% | 12% | 15.7× | 16.0% | +8.8% |
| GuangDong Leary New Material Technology 688683.SS | China | $586M | -45% | +83% | 5% | n/a | n/a | n/a |
| Sunrise 002752.SZ | China | $766M | -29% | +8% | 6% | 11.1× | -5.7% | +17.2% |
| Shantou Wanshun New Material 300057.SZ | China | $784M | -45% | +29% | 1% | 66.5× | n/a | n/a |
| Shanghai Baosteel Packaging 601968.SS | China | $785M | -19% | +17% | 4% | 17.3× | n/a | n/a |
| Cheng Loong 1904.TW | Taiwan | $788M | +34% | -3% | 6% | 61.8× | 3.9% | +1.4% |
| O-I Glass OI | United States | $796M | -44% | -2% | 9% | 10.1× | n/a | n/a |
| Pack 3950.T | Japan | $550M | +13% | +4% | 7% | n/a | -8.4% | +5.6% |
| Guangdong Taili Technology 301595.SZ | China | $536M | -12% | +2% | 3% | 74.4× | n/a | n/a |