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Grocery Outlet Holding

GO on Nasdaq. Grocery Outlet sells discounted name-brand food and household goods to bargain shoppers. Market value $1.1bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Everyday goods stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
1.1%low

For every $100 of what the whole company costs, it produced $1.07 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
5.3%five-year median

Each dollar kept in the business earns 5 cents a year. Above 10 is good.

Quality score: 66 of 100. Price score: 5 of 100. Our list needs 70 on quality and 60 on price.

$11.41 a share, 102% above its 1-year low

Over the past year the price has ranged from $5.66 to $16.37.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.0
0.1
0.1
-0.1
0.0
0.0
2021202220232024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $12 million in the past 12 months, $24 million in the year to December 2025.

Revenue
$3.1bn$3.6bn$4.0bn$4.4bn$4.7bn
Operating margin
2.9%2.7%3.2%1.8%-4.7%
Debt to equity
0.460.350.250.400.50
Shares outstanding
0.10bn0.10bn0.10bn0.10bn0.10bn

Health checks

  • Free cash flow positive4 of 5 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)4 of 9
  • Profit backed by cash (accruals)No
  • Debt0.50× equity
  • Revenue growth, five yearsSlow, 8.4% a year
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $1.2 billion last quarter, about the same as a year ago.
  • Profit: $6 million, up 13% on a year ago.
  • It loses 8 cents on each $1 of sales, after keeping 1 cents a year earlier.
  • 1% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $431 million more than cash, up from $419 million a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$1.1bn
December 2024$1.1bn
March 2025$1.1bn
June 2025$1.2bn
September 2025$1.2bn
December 2025$1.2bn
March 2026$1.2bn
June 2026$1.2bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$24m
December 2024$2m
March 2025-$23m
June 2025$5m
September 2025$12m
December 2025-$218m
March 2026-$180m
June 2026$6m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
4 March 2026
Next quarterly (estimated, 10-Q)
11 November 2026

Who owns it

3 long-term investors we follow own it, up from 2 last quarter. 245 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 7 insiders bought $8m of shares on the open market. 6 sold $923,211, $23,226 of it under preset trading plans.

  • Jaros Carey F.
    Director
    Bought
    Date
    27 August 2026
    Shares
    15,000
    Price
    $11.70
    Value
    $175,500
  • Kerr Frank Michael
    See Remarks
    Sold
    Date
    21 August 2026
    Shares
    1,432
    Price
    $11.30
    Value
    $16,182
  • Miller Paul Blaine
    See Remarks
    Bought
    Date
    20 August 2026
    Shares
    8,000
    Price
    $10.90
    Value
    $87,200
  • Miller Paul Blaine
    See Remarks
    Bought
    Date
    25 June 2026
    Shares
    5,000
    Price
    $9.50
    Value
    $47,500
  • Miller Paul Blaine
    See Remarks
    Bought
    Date
    18 June 2026
    Shares
    10,000
    Price
    $9.37
    Value
    $93,700
  • Bortner Andrea Renee
    See Remarks
    Sold
    under a preset trading plan
    Date
    1 April 2026
    Shares
    1,851
    Price
    $7.00
    Value
    $12,957
  • Ragatz Erik D.
    Director
    Bought
    Date
    27 March 2026
    Shares
    125,000
    Price
    $7.06
    Value
    $882,500
  • Potter Jason J. N.
    President and CEO, Director
    Bought
    Date
    24 March 2026
    Shares
    2,556
    Price
    $6.68
    Value
    $17,074
  • Potter Jason J. N.
    President and CEO, Director
    Bought
    Date
    23 March 2026
    Shares
    110,252
    Price
    $6.35
    Value
    $700,100
  • Potter Jason J. N.
    President and CEO, Director
    Bought
    Date
    19 March 2026
    Shares
    286,097
    Price
    $5.90
    Value
    $2m

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 4 Mar 2026, plus the 10-Q filed 12 Aug 2026 and 5 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.