How many subsidiaries does KinderCare Learning Companies, Inc. file with the SEC?

56, listed in its most recent exhibit 21. They are incorporated across 17 jurisdictions, led by Delaware, Michigan, California. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is KinderCare Learning Companies, Inc. financially healthy?

KinderCare Learning Companies, Inc. scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the distress zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

KinderCare Learning Companies, Inc. (KLC)

NYSE · Common Stock · Services-Child Day Care Services

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

56 entities across 17 jurisdictions. Read directly from the company’s own 10-K EX-21 filed 2026-03-13 — see the exhibit.

Which other public companies file entities in the same places:

Delaware11 Texas11 Illinois7 Arizona5 Ohio3 Colorado3 Georgia2 New Jersey2 Nevada2 Indiana2 Minnesota2 Michigan1

Subsidiaries of KinderCare Learning Companies, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
KC Sub, LLC	Delaware
KUEHG Corp.	Delaware
KC REE Holdings, Inc.	Delaware
REE Midwest, Inc.	Michigan
REE Southeast, Inc.	Delaware
Knowledge Schools LLC	Delaware
KinderCare Education LLC	Delaware
KinderCare Education at Work LLC	California
KCE Champions LLC	Delaware
KinderCare Learning Centers LLC	Delaware
CDLC Early Learning, LLC	Delaware

Financial health

Two standard screens, computed from the XBRL in FY2026 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

4 / 8

FAILReturn on assets positiveROA -3.0%
PASSOperating cash flow positiveOCF 239M
FAILReturn on assets improving-2.5% → -3.0%
PASSCash flow exceeds earningsOCF 239M vs NI -113M
PASSLong-term debt ratio falling25.2% → 24.5% of assets
PASSCurrent ratio improving0.52 → 0.74
FAILNo share dilution96M → 118M shares
FAILGross margin improvingno gross profit reported
FAILAsset turnover improving0.73× → 0.73×

Altman Z-score

0.68distress

Bankruptcy-risk screen combining working capital, retained earnings, operating income, market value against liabilities, and asset turnover. Above 2.99 is the safe zone; below 1.81 is distress.

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2022	$2.2B	$219.2M	$202.2M	—	93,453,000
FY2023	$2.5B	$102.6M	$174.5M	—	90,389,000
FY2024	$2.7B	−$92.8M	−$16.4M	—	96,309,000
FY2026	$2.7B	−$112.9M	$110.3M	—	118,329,000

Identity

CIK: 0001873529
LEI: 549300I1AHR8KMMFIS52
FIGI: BBG0132WLLM5
SIC: 8351 · Services-Child Day Care Services
Incorporated: DE
Headquarters: LAKE OSWEGO, OR

Ownership

Institutional: 92.5%
Institutions: 147
Insiders: 5.9%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Related companies

Companies filing in the same SEC industry group.

BRIGHT HORIZONS FAMILY SOLUTIONS INC.BFAM

Questions about KinderCare Learning Companies, Inc.

How many subsidiaries does KinderCare Learning Companies, Inc. file with the SEC?: 56, listed in its most recent exhibit 21. They are incorporated across 17 jurisdictions, led by Delaware, Michigan, California. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is KinderCare Learning Companies, Inc. financially healthy?: KinderCare Learning Companies, Inc. scores 4 out of 8 on the Piotroski F-score. Only 8 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Its Altman Z-score puts it in the distress zone. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

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Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.