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Side-by-side financial comparison of Krispy Kreme, Inc. (DNUT) and Gaming & Leisure Properties, Inc. (GLPI). Click either name above to swap in a different company.
Gaming & Leisure Properties, Inc. is the larger business by last-quarter revenue ($420.0M vs $392.4M, roughly 1.1× Krispy Kreme, Inc.). Gaming & Leisure Properties, Inc. runs the higher net margin — 57.0% vs -7.1%, a 64.1% gap on every dollar of revenue. On growth, Gaming & Leisure Properties, Inc. posted the faster year-over-year revenue change (6.3% vs -2.9%). Over the past eight quarters, Gaming & Leisure Properties, Inc.'s revenue compounded faster (5.0% CAGR vs -5.9%).
Krispy Kreme, Inc. is an American multinational doughnut company and coffeehouse chain. Krispy Kreme was founded by Vernon Rudolph (1915–1973), who bought a yeast-raised recipe from a New Orleans chef, rented a building in 1937 in what is now historic Old Salem in Winston-Salem, North Carolina, and began selling to local grocery stores. Steady growth preceded an ambitious expansion as a public company in the period 2000 to 2016, which ultimately proved unprofitable. In 2016, the company retur...
Gaming and Leisure Properties, Inc. is a real estate investment trust (REIT) specializing in casino properties, based in Wyomissing, Pennsylvania. It was formed in November 2013 as a corporate spin-off from Penn National Gaming. The company owns 62 casino properties, all of which are leased to other companies.
DNUT vs GLPI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $392.4M | $420.0M |
| Net Profit | $-27.8M | $239.4M |
| Gross Margin | — | — |
| Operating Margin | -1.9% | 79.4% |
| Net Margin | -7.1% | 57.0% |
| Revenue YoY | -2.9% | 6.3% |
| Net Profit YoY | -23.8% | 40.5% |
| EPS (diluted) | $-0.18 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $420.0M | ||
| Q4 25 | $392.4M | $407.0M | ||
| Q3 25 | $375.3M | $397.6M | ||
| Q2 25 | $379.8M | $394.9M | ||
| Q1 25 | $375.2M | $395.2M | ||
| Q4 24 | $404.0M | $389.6M | ||
| Q3 24 | $379.9M | $385.3M | ||
| Q2 24 | $438.8M | $380.6M |
| Q1 26 | — | $239.4M | ||
| Q4 25 | $-27.8M | $275.4M | ||
| Q3 25 | $-19.4M | $241.2M | ||
| Q2 25 | $-435.3M | $151.4M | ||
| Q1 25 | $-33.3M | $165.2M | ||
| Q4 24 | $-22.4M | $223.6M | ||
| Q3 24 | $39.6M | $184.7M | ||
| Q2 24 | $-5.5M | $208.3M |
| Q1 26 | — | 79.4% | ||
| Q4 25 | -1.9% | 89.3% | ||
| Q3 25 | -1.9% | 84.8% | ||
| Q2 25 | -114.4% | 61.3% | ||
| Q1 25 | -5.4% | 65.5% | ||
| Q4 24 | -2.8% | 79.1% | ||
| Q3 24 | -4.2% | 70.4% | ||
| Q2 24 | 1.6% | 77.1% |
| Q1 26 | — | 57.0% | ||
| Q4 25 | -7.1% | 67.6% | ||
| Q3 25 | -5.2% | 60.7% | ||
| Q2 25 | -114.6% | 38.4% | ||
| Q1 25 | -8.9% | 41.8% | ||
| Q4 24 | -5.6% | 57.4% | ||
| Q3 24 | 10.4% | 47.9% | ||
| Q2 24 | -1.3% | 54.7% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.18 | $0.96 | ||
| Q3 25 | $-0.11 | $0.85 | ||
| Q2 25 | $-2.55 | $0.54 | ||
| Q1 25 | $-0.20 | $0.60 | ||
| Q4 24 | $-0.13 | $0.79 | ||
| Q3 24 | $0.23 | $0.67 | ||
| Q2 24 | $-0.03 | $0.77 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $42.4M | $274.5M |
| Total DebtLower is stronger | $911.9M | — |
| Stockholders' EquityBook value | $650.1M | $5.0B |
| Total Assets | $2.6B | $13.8B |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $274.5M | ||
| Q4 25 | $42.4M | — | ||
| Q3 25 | $30.7M | — | ||
| Q2 25 | $21.3M | — | ||
| Q1 25 | $18.7M | — | ||
| Q4 24 | $29.0M | $560.8M | ||
| Q3 24 | $25.4M | $560.8M | ||
| Q2 24 | $28.6M | $560.8M |
| Q1 26 | — | — | ||
| Q4 25 | $911.9M | $7.2B | ||
| Q3 25 | $906.2M | $7.2B | ||
| Q2 25 | $889.4M | $6.9B | ||
| Q1 25 | $935.0M | $6.9B | ||
| Q4 24 | $844.5M | $7.7B | ||
| Q3 24 | $804.6M | $7.4B | ||
| Q2 24 | $895.0M | $6.6B |
| Q1 26 | — | $5.0B | ||
| Q4 25 | $650.1M | $4.6B | ||
| Q3 25 | $670.3M | $4.6B | ||
| Q2 25 | $693.6M | $4.6B | ||
| Q1 25 | $1.1B | $4.2B | ||
| Q4 24 | $1.1B | $4.3B | ||
| Q3 24 | $1.2B | $4.3B | ||
| Q2 24 | $1.1B | $4.1B |
| Q1 26 | — | $13.8B | ||
| Q4 25 | $2.6B | $12.9B | ||
| Q3 25 | $2.6B | $12.8B | ||
| Q2 25 | $2.6B | $12.5B | ||
| Q1 25 | $3.1B | $12.1B | ||
| Q4 24 | $3.1B | $13.1B | ||
| Q3 24 | $3.1B | $12.7B | ||
| Q2 24 | $3.2B | $11.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.40× | 1.56× | ||
| Q3 25 | 1.35× | 1.57× | ||
| Q2 25 | 1.28× | 1.51× | ||
| Q1 25 | 0.85× | 1.63× | ||
| Q4 24 | 0.74× | 1.81× | ||
| Q3 24 | 0.68× | 1.74× | ||
| Q2 24 | 0.79× | 1.60× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $45.0M | — |
| Free Cash FlowOCF − Capex | $27.9M | — |
| FCF MarginFCF / Revenue | 7.1% | — |
| Capex IntensityCapex / Revenue | 4.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-64.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $45.0M | $1.1B | ||
| Q3 25 | $42.3M | $240.3M | ||
| Q2 25 | $-32.5M | $293.4M | ||
| Q1 25 | $-20.8M | $252.5M | ||
| Q4 24 | $27.0M | $1.1B | ||
| Q3 24 | $3.3M | $270.4M | ||
| Q2 24 | $33.2M | $252.1M |
| Q1 26 | — | — | ||
| Q4 25 | $27.9M | — | ||
| Q3 25 | $15.5M | $183.0M | ||
| Q2 25 | $-60.8M | $272.3M | ||
| Q1 25 | $-46.7M | $239.6M | ||
| Q4 24 | $-6.9M | $1.1B | ||
| Q3 24 | $-22.9M | $261.5M | ||
| Q2 24 | $1.6M | $245.0M |
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | — | ||
| Q3 25 | 4.1% | 46.0% | ||
| Q2 25 | -16.0% | 69.0% | ||
| Q1 25 | -12.5% | 60.6% | ||
| Q4 24 | -1.7% | 275.3% | ||
| Q3 24 | -6.0% | 67.9% | ||
| Q2 24 | 0.4% | 64.4% |
| Q1 26 | — | — | ||
| Q4 25 | 4.4% | — | ||
| Q3 25 | 7.1% | 14.4% | ||
| Q2 25 | 7.4% | 5.3% | ||
| Q1 25 | 6.9% | 3.3% | ||
| Q4 24 | 8.4% | 0.0% | ||
| Q3 24 | 6.9% | 2.3% | ||
| Q2 24 | 7.2% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.10× | ||
| Q3 25 | — | 1.00× | ||
| Q2 25 | — | 1.94× | ||
| Q1 25 | — | 1.53× | ||
| Q4 24 | — | 4.80× | ||
| Q3 24 | 0.08× | 1.46× | ||
| Q2 24 | — | 1.21× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
