Stock Analysis on Net

Kellanova (NYSE:K)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 1, 2024.

Analysis of Goodwill and Intangible Assets

Microsoft Excel

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Goodwill and Intangible Asset Disclosure

Kellanova, balance sheet: goodwill and intangible assets

US$ in millions

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 28, 2019
Goodwill
Intangibles subject to amortization, gross amount
Accumulated amortization
Intangibles subject to amortization, net amount
Intangibles not subject to amortization
Other intangibles, net
Goodwill and other intangibles, net

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).

Item Description The company
Goodwill Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Kellanova goodwill decreased from 2021 to 2022 and from 2022 to 2023.
Other intangibles, net Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Kellanova other intangibles, net decreased from 2021 to 2022 and from 2022 to 2023.
Goodwill and other intangibles, net Sum of the carrying amounts of all intangible assets, including goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Kellanova goodwill and other intangibles, net decreased from 2021 to 2022 and from 2022 to 2023.

Adjustments to Financial Statements: Removal of Goodwill

Kellanova, adjustments to financial statements

US$ in millions

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 28, 2019
Adjustment to Total Assets
Total assets (as reported)
Less: Goodwill
Total assets (adjusted)
Adjustment to Total Kellanova Equity
Total Kellanova equity (as reported)
Less: Goodwill
Total Kellanova equity (adjusted)

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).


Kellanova, Financial Data: Reported vs. Adjusted


Adjusted Financial Ratios: Removal of Goodwill (Summary)

Kellanova, adjusted financial ratios

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 28, 2019
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Kellanova adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Kellanova adjusted ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.

Kellanova, Financial Ratios: Reported vs. Adjusted


Adjusted Total Asset Turnover

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 28, 2019
As Reported
Selected Financial Data (US$ in millions)
Net sales
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net sales
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).

2023 Calculations

1 Total asset turnover = Net sales ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Kellanova adjusted total asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023.

Adjusted Financial Leverage

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 28, 2019
As Reported
Selected Financial Data (US$ in millions)
Total assets
Total Kellanova equity
Solvency Ratio
Financial leverage1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Adjusted total assets
Adjusted total Kellanova equity
Solvency Ratio
Adjusted financial leverage2

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).

2023 Calculations

1 Financial leverage = Total assets ÷ Total Kellanova equity
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Kellanova equity
= ÷ =


Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 28, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Kellanova
Total Kellanova equity
Profitability Ratio
ROE1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net income attributable to Kellanova
Adjusted total Kellanova equity
Profitability Ratio
Adjusted ROE2

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).

2023 Calculations

1 ROE = 100 × Net income attributable to Kellanova ÷ Total Kellanova equity
= 100 × ÷ =

2 Adjusted ROE = 100 × Net income attributable to Kellanova ÷ Adjusted total Kellanova equity
= 100 × ÷ =


Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 30, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 28, 2019
As Reported
Selected Financial Data (US$ in millions)
Net income attributable to Kellanova
Total assets
Profitability Ratio
ROA1
Adjusted for Goodwill
Selected Financial Data (US$ in millions)
Net income attributable to Kellanova
Adjusted total assets
Profitability Ratio
Adjusted ROA2

Based on: 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-28).

2023 Calculations

1 ROA = 100 × Net income attributable to Kellanova ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Net income attributable to Kellanova ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as net income divided by adjusted total assets. Kellanova adjusted ROA deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023.