United Natural Foods Inc. (UNFI) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 27	$0.62	$0.69	+11.3%	—	—	—
Q1 27	$0.77	$0.77	0.0%	—	—	—
Q4 26	$0.51	$0.62	+21.6%	—	—	—
Q3 26	$0.4	$0.56	+40.0%	—	—	—
Q2 26	-$0.18	-$0.11	+38.9%	—	—	—
Q1 26	$0.22	$0.44	+100.0%	—	—	—
Q4 25	$0.16	$0.22	+37.5%	—	—	—
Q3 25	-$0.01	$0.16	+1700.0%	—	—	—
Q2 25	-$0.07	$0.01	+114.3%	—	—	—
Q1 25	$0.03	$0.1	+233.3%	—	—	—
Q4 24	-$0.02	$0.07	+450.0%	—	—	—
Q3 24	-$0.34	-$0.04	+88.2%	—	—	—
Q2 24	-$0.39	-$0.25	+35.9%	—	—	—
Q1 24	$0.65	$0.54	-16.9%	—	—	—
Q4 23	$1.44	$0.78	-45.8%	—	—	—
Q3 23	$1.16	$1.13	-2.6%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$1.95	—	—	$31.8B	—
FY24	—	-$1.89	—	—	$31B	—
FY23	—	$0.41	—	—	$30.3B	—
FY22	—	$4.28	—	—	$28.9B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$8.5B	$9.3B	$10.2B	$22.3B	$26.6B	$26.9B	$28.9B	$30.3B	$31B	$31.8B
YoY change	+3.49%	+9.49%	+10.3%	+118.5%	+18.9%	+1.47%	+7.34%	+4.65%	+2.34%	+2.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	8.5B	9.3B	10.2B	22.3B	26.6B	26.9B	28.9B	30.3B	31B	31.8B
Cost of revenue	7.2B	7.8B	8.7B	19.1B	22.7B	23B	24.7B	26.1B	26.8B	27.6B
Gross profit	1.3B	1.4B	1.5B	3.2B	3.9B	3.9B	4.2B	4.1B	4.2B	4.2B
Gross margin	15.1%	15.4%	14.9%	14.4%	14.6%	14.6%	14.5%	13.6%	13.6%	13.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	—	0	0	-35M	-39M	-85M	-40M	-29M	—	—
Operating expenses	1B	1.2B	1.3B	2.9B	3.5B	3.5B	3.8B	3.9B	4.1B	4.1B
Operating income	229.7M	232.9M	245.5M	244M	337M	346M	357M	158M	101M	105M
Operating margin	2.71%	2.51%	2.4%	1.09%	1.27%	1.28%	1.23%	0.52%	0.33%	0.33%
Non-operating income, net	-6.3M	-1.7M	-19.4M	-404M	-487M	41M	108M	-10M	-86M	-117M
Pretax income	208.2M	214.4M	210M	-341M	-342M	183M	310M	7M	-137M	-154M
Income tax	82.5M	84.3M	47.2M	-59M	-91M	34M	56M	-23M	-27M	-39M
Net income	125.8M	130.2M	162.8M	-285M	-269M	155M	254M	30M	-110M	-115M
Net margin	1.48%	1.4%	1.59%	-1.28%	-1.01%	0.58%	0.88%	0.1%	-0.36%	-0.36%
EBITDA	301M	324.1M	335.1M	528M	662M	724M	684M	485M	431M	446M
EPS	2.5	2.57	3.28	-5.56	-5.1	2.65	4.28	0.41	-1.89	-1.95
Diluted EPS	2.5	2.56	3.26	-5.56	-5.1	2.48	4.07	0.4	-1.89	-1.95

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	7.4B	7.6B	7.8B	7.5B	8.2B	7.9B	8.2B	8.1B	7.7B	7.8B	7.9B	7.7B
Cost of revenue	6.5B	6.5B	6.7B	6.5B	7B	6.8B	7.1B	7B	6.7B	6.8B	6.9B	6.7B
Gross profit	966M	1B	1B	1B	1.1B	1B	1.1B	1.1B	1B	1.1B	1B	1B
Gross margin	13%	13.6%	13.3%	13.6%	13.7%	13.2%	13.1%	13.4%	13.4%	13.4%	13.2%	13.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	-7M	-3M	-4M	-4M	—	—	—	—	—	—	—	—
Operating expenses	997M	1B	1B	988M	1.1B	1B	1B	1B	1B	996M	972M	954M
Operating income	-38M	7M	25M	28M	41M	23M	41M	57M	-16M	55M	74M	95M
Operating margin	-0.51%	0.09%	0.32%	0.37%	0.5%	0.29%	0.5%	0.71%	-0.21%	0.7%	0.93%	1.23%
Non-operating income, net	-30M	-20M	-4M	-17M	-45M	-11M	-8M	-37M	-61M	-30M	-19M	-23M
Pretax income	-103M	-48M	-19M	-26M	-44M	-24M	-5M	-16M	-109M	-9M	23M	42M
Income tax	-36M	-9M	-5M	-6M	-7M	-4M	-3M	-9M	-23M	-5M	3M	9M
Net income	-67M	-39M	-14M	-20M	-37M	-20M	-2M	-7M	-86M	-4M	20M	33M
Net margin	-0.9%	-0.52%	-0.18%	-0.27%	-0.45%	-0.25%	-0.02%	-0.09%	-1.12%	-0.05%	0.25%	0.43%
EBITDA	47M	87M	101M	108M	135M	109M	127M	142M	68M	136M	146M	175M
EPS	-1.15	-0.67	-0.25	-0.34	-0.63	-0.35	-0.05	-0.12	-1.43	-0.06	0.32	0.54
Diluted EPS	-1.15	-0.67	-0.25	-0.34	-0.63	-0.35	-0.05	-0.12	-1.43	-0.06	0.31	0.52

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	2.5B	1.9B	1.6B	505.3M	1.1B	1.9B	2.5B	1.2B	919.1M	1.7B	2.7B
Enterprise value	3.1B	2.3B	2B	3.5B	4.7B	5.2B	5.8B	4.5B	4.4B	5.1B	5.8B
Shares outstanding	50.3M	50.6M	50.5M	51.2M	53.8M	56.1M	58M	59.2M	59.3M	60.2M	60.2M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	20	15	10	—	—	12	9.71	41	—	—	40.8
P/S	0.3	0.21	0.16	0.02	0.04	0.07	0.09	0.04	0.03	0.05	0.09
P/B	1.65	1.16	0.88	0.34	0.93	1.23	1.38	0.71	0.56	1.07	1.74
EV/EBITDA	10.3	7.15	5.84	6.63	7.07	7.24	8.48	9.19	10.3	11.4	10
EV/Sales	0.37	0.25	0.19	0.16	0.18	0.19	0.2	0.15	0.14	0.16	0.18
Earnings yield	5%	6.68%	10%	—	—	8.34%	10.3%	2.44%	—	—	2.45%
FCF yield	10.1%	11.1%	3.96%	11.3%	26.6%	16.4%	3.24%	24.4%	-10%	14.4%	17.9%
PEG	—	—	—	—	—	—	—	—	—	—	-0.07

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	15.1%	15.4%	14.9%	14.4%	14.6%	14.6%	14.5%	13.6%	13.6%	13.3%	13.6%
Operating margin	2.71%	2.51%	2.4%	1.09%	1.27%	1.28%	1.23%	0.52%	0.33%	0.33%	1.1%
Net margin	1.48%	1.4%	1.59%	-1.28%	-1.01%	0.58%	0.88%	0.1%	-0.36%	-0.36%	-0.12%
ROE	8.28%	7.74%	8.82%	-18.9%	-23.6%	10.2%	14.2%	1.72%	-6.7%	-7.4%	-2.3%
ROA	4.41%	4.51%	5.49%	-3.97%	-3.55%	2.06%	3.33%	0.41%	-1.46%	-1.51%	2.29%
ROIC	6.6%	6.89%	8.75%	5.42%	7.09%	5.75%	5.7%	3.18%	1.96%	2.12%	4.42%
Return on tangible assets	7.51%	7.53%	8.78%	-6.93%	-4.8%	2.72%	4.27%	0.51%	-1.78%	-1.8%	-0.61%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.6	2.36	2.56	1.69	1.56	1.43	1.57	1.44	1.44	1.32	1.33
Quick ratio	0.95	0.9	0.93	0.65	0.6	0.52	0.6	0.49	0.52	0.51	0.51
Debt / equity	0.39	0.23	0.19	2.02	3.2	2.26	1.89	1.87	2.16	2.22	1.97
Debt / assets	0.21	0.13	0.12	0.42	0.48	0.46	0.44	0.44	0.47	0.45	0.44
Net debt / EBITDA	1.93	1.14	0.98	5.67	5.45	4.68	4.88	6.66	8.14	7.64	5.92
Interest coverage	13.8	13.8	13.7	-0.88	-0.78	1.9	3	1.05	0.06	-0.11	0.58
Effective tax rate	39.6%	39.3%	22.5%	0%	0%	18.6%	18.1%	0%	0%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	168.4	183.4	202.4	436	493.9	480.4	498.8	511.4	522.4	528	513.9
EPS (basic)	2.5	2.57	3.28	-5.56	-5.1	2.65	4.28	0.41	-1.89	-1.95	-1.95
EPS (diluted)	2.5	2.56	3.26	-5.56	-5.1	2.48	4.07	0.4	-1.89	-1.95	-0.66
Book value per share	30.2	33.3	36.5	29.4	21.2	27	30.9	29.5	27.7	25.8	26.3
FCF per share	5.07	4.3	1.28	1.11	5.28	5.42	1.38	5.08	-1.55	3.97	5.25
Cash per share	0.37	0.3	0.46	0.87	0.87	0.73	0.76	0.63	0.67	0.73	0.71
Capex per share	0	0	0.01	—	—	—	—	—	—	3.84	2.78

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0%	0%	0%	—	—	—	—	—	—	0.73%	0.56%
Capex / operating cash flow	0.04%	0.06%	0.38%	—	—	—	—	—	—	49.1%	34.6%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$7.4B	$7.6B	$7.8B	$7.5B	$8.2B	$7.9B	$8.2B	$8.1B	$7.7B	$7.8B	$7.9B	$7.7B
YoY change	+1.98%	+0.27%	-0.52%	-0.12%	+9.95%	+4.22%	+4.93%	+7.48%	-5.63%	-0.39%	-2.59%	-4.17%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	18.6M	15.4M	23.3M	44.5M	47M	41M	44M	37M	40M	44M
Receivables	499.3M	539.6M	579.7M	1B	1.1B	1.1B	1.2B	870M	915M	1B
Inventory	1B	1B	1.1B	2.2B	2.3B	2.2B	2.4B	2.3B	2.2B	2.1B
Total current assets	1.6B	1.7B	1.8B	3.6B	3.7B	3.5B	3.8B	3.5B	3.4B	3.4B
Property, plant & equipment	212.8M	205.4M	139.8M	814.3M	1.7B	1.8B	1.9B	2B	2.2B	2.2B
Goodwill & intangibles	1.2B	1.2B	1.1B	3.1B	2B	1.8B	1.7B	1.5B	1.3B	1.2B
Total assets	2.9B	2.9B	3B	7.2B	7.6B	7.5B	7.6B	7.4B	7.5B	7.6B
Accounts payable	445.4M	534.6M	517.1M	1.5B	1.6B	1.6B	1.7B	1.8B	1.7B	1.9B
Short-term debt	11.9M	12.1M	12.4M	112.1M	214M	255M	183M	198M	192M	181M
Total current liabilities	619.7M	704M	699.2M	2.1B	2.4B	2.5B	2.4B	2.4B	2.4B	2.6B
Long-term debt	588.3M	373.5M	340.3M	2.9B	3.4B	3.2B	3.2B	3.1B	3.4B	3.3B
Total liabilities	1.3B	1.2B	1.1B	5.7B	6.4B	6B	5.8B	5.7B	5.9B	6B
Shareholders' equity	1.5B	1.7B	1.8B	1.5B	1.1B	1.5B	1.8B	1.7B	1.6B	1.6B
Total debt	600.1M	385.6M	352.8M	3B	3.7B	3.4B	3.4B	3.3B	3.5B	3.5B
Net debt	581.5M	370.2M	329.4M	3B	3.6B	3.4B	3.3B	3.2B	3.5B	3.4B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	37M	37M	34M	39M	40M	37M	44M	52M	44M	38M	52M	43M
Receivables	870M	987M	960M	942M	915M	1.1B	975M	959M	1B	947M	923M	909M
Inventory	2.3B	2.6B	2.3B	2.2B	2.2B	2.4B	2.2B	2.2B	2.1B	2.2B	2B	2B
Total current assets	3.5B	4B	3.6B	3.5B	3.4B	3.7B	3.5B	3.4B	3.4B	3.5B	3.2B	3.2B
Property, plant & equipment	2B	3B	3.2B	3.2B	2.2B	3.3B	3.3B	3.3B	2.2B	3.1B	3.1B	3B
Goodwill & intangibles	1.5B	1.4B	1.4B	1.4B	1.3B	1.3B	1.3B	1.2B	1.2B	1.2B	1.1B	1.1B
Total assets	7.4B	7.8B	7.7B	7.6B	7.5B	8B	7.7B	7.6B	7.6B	7.6B	7.2B	7.2B
Accounts payable	1.8B	1.9B	1.7B	1.7B	1.7B	1.9B	1.8B	1.8B	1.9B	1.9B	1.8B	1.8B
Short-term debt	198M	197M	199M	197M	192M	190M	165M	184M	181M	157M	157M	172M
Total current liabilities	2.4B	2.6B	2.3B	2.3B	2.4B	2.5B	2.4B	2.4B	2.6B	2.5B	2.4B	2.4B
Long-term debt	3.1B	3.4B	3.5B	3.4B	3.4B	3.6B	3.6B	3.4B	3.3B	3.3B	3.1B	3B
Total liabilities	5.7B	6.1B	6B	5.9B	5.9B	6.3B	6.1B	6B	6B	6B	5.7B	5.6B
Shareholders' equity	1.7B	1.7B	1.7B	1.7B	1.6B	1.6B	1.6B	1.6B	1.6B	1.5B	1.6B	1.6B
Total debt	3.3B	3.6B	3.7B	3.6B	3.5B	3.8B	3.7B	3.6B	3.5B	3.5B	3.2B	3.2B
Net debt	3.2B	3.6B	3.6B	3.6B	3.5B	3.8B	3.7B	3.5B	3.4B	3.4B	3.2B	3.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	125.8M	130.2M	162.8M	-282M	-251M	149M	254M	30M	-110M	-115M
Depreciation & amortization	71M	86.1M	87.6M	248M	282M	285M	285M	304M	319M	321M
Stock-based compensation	15.3M	25.7M	25.8M	26M	25M	45M	44M	38M	39M	43M
Change in working capital	45.9M	37.1M	-169.4M	211M	-128M	53M	-286M	323M	-45M	145M
Operating cash flow	271.1M	277.9M	73.6M	213M	-64M	608M	536M	791M	179M	470M
Capital expenditure	109K	168K	283K	—	—	—	—	—	—	-231M
Investing cash flow	-309.5M	-3.7M	-4.8M	-2.1B	145M	71M	202M	-16M	3M	-218M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	0	0	-24.2M	0	0	0	0	-62M	0	0
Financing cash flow	54.3M	-224.6M	-54M	2B	-776M	-4.1B	-4.6B	-3.3B	-2.2B	-3.9B
Net change in cash	15.9M	49.7M	14.9M	95.9M	-695M	-3.4B	-3.8B	-2.5B	-2B	-3.6B
Free cash flow	255.2M	217.2M	64.4M	57M	284M	304M	80M	301M	-92M	239M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	-67M	-39M	-14M	-20M	-37M	-20M	-2M	-7M	-86M	-4M	20M	33M
Depreciation & amortization	80M	—	—	—	—	—	—	—	—	77M	74M	74M
Stock-based compensation	5M	—	—	—	—	—	—	—	—	11M	16M	18M
Change in working capital	—	—	—	—	—	—	—	—	—	-56M	130M	-20M
Operating cash flow	18M	-39M	-14M	-20M	-37M	-20M	-2M	-7M	-86M	-38M	283M	98M
Capital expenditure	—	—	—	—	—	—	—	—	—	-16M	-40M	-44M
Investing cash flow	-23M	—	—	—	—	—	—	—	—	-16M	-41M	-47M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-21M	—	—	—	—	—	—	—	—	—	—	-4M
Financing cash flow	-751M	—	—	—	—	—	—	—	—	48M	-215M	-59M
Net change in cash	-756M	-39M	-14M	-20M	-37M	-20M	-2M	-7M	-86M	-6M	27M	-8M
Free cash flow	117M	—	—	—	—	—	—	—	—	-54M	243M	54M

United Natural Foods Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement