Chefs' Warehouse, Inc. CHEF

Industrials SIC 5141 - Wholesale-Groceries, General Line NAICS Wholesale Trade › Merchant Wholesalers, Nondurable Goods › Grocery and Related Product Merchant Wholesalers › General Line Grocery Merchant Wholesalers derived Nasdaq

We are a premier distributor of specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. We are focused on serving the specific needs of chefs who own and/or operate some of the leading menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolateries, cruise lines, casinos and specialty food stores in the United States, the Middle East, and Canada (collectively, our "Core Customers"). We believe that we have a distinct competitive advantage in serving these customers as a result of our extensive selection of distinctive and hard-to-find specialty and center-of-the-plate food products, our product knowledge and our customer service.

Last close 105.88 2026-10-23
Market cap $4.32B 2026-03-27 share count
52-week range 56.46 - 118.51

Valuation FY2025 figures against the last close

P/S1.0x
P/E63.0x
P/FCF49.2x
EV/EBITDA24.9x
Dividend yield—
Diluted EPS1.68

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States - Foodservice Distribution
  • International - Foodservice Distribution
Revenue by geography, 2 categories over 3 years. The same figures are in the table below. FY2025 United States - Foodservice Distribution, FY2025: 3.8B (90.6%) 91% United States - Foodservice Distribution International - Foodservice Distribution, FY2025: 391.6M (9.4%) 9% FY2024 United States - Foodservice Distribution, FY2024: 3.5B (91.0%) 91% International - Foodservice Distribution, FY2024: 339.9M (9.0%) 9% FY2023 United States - Foodservice Distribution, FY2023: 3.2B (91.8%) 92% International - Foodservice Distribution, FY2023: 282.9M (8.2%) 8%
Region FY2025FY2024FY2023
United States - Foodservice Distribution $3.76B $3.45B $3.15B
International - Foodservice Distribution $391.6M $339.9M $282.9M

As the company reported it, from the “Segment Information - Schedule of Segment Information (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $4.15B$3.79B$3.43B$2.61B$1.75B$1.11B$1.59B$1.44B$1.30B$1.19B
Cost of revenue $3.15B$2.88B$2.62B$1.99B$1.36B$863.5M$1.21B$1.10B$972.1M$891.6M
Gross profit $1.00B$914.1M$814.5M$618.6M$390.5M$248.2M$386.6M$348.9M$329.4M$301.2M
SG&A $849.8M$784.9M$704.8M$518.2M$379.3M$336.4M$329.5M$298.1M——
Total operating expenses ——————$0$0$288.3M$254.0M
Operating income $145.1M$128.2M$100.9M$85.7M$10.8M-$102.7M$50.7M$48.6M$41.1M$47.2M
Interest expense $41.6M$48.7M$45.5M$43.8M$17.6M$20.9M$18.3M$20.7M$22.7M$41.6M
Pre-tax income $103.5M$79.5M$55.5M$41.9M-$6.8M-$123.6M$32.4M$27.8M$18.4M$5.7M
Income tax $31.2M$24.1M$20.9M$14.1M$1.9M$40.7M$8.2M$7.4M$4.0M$2.7M
Net income $72.4M$55.5M$34.6M$27.8M-$4.9M-$82.9M$24.2M$20.4M$14.4M$3.0M
EPS, basic 1.871.460.920.75-0.13-2.460.820.710.550.12
EPS, diluted 1.681.320.880.73-0.13-2.460.810.700.540.12
Shares, diluted (wtd. avg.) 46.0M46.0M45.6M38.7M36.7M33.7M30.1M29.7M27.4M26.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $121.0M$114.7M$49.9M$158.8M$115.2M$193.3M$140.2M$42.4M$41.5M$32.9M
Receivables $392.4M$366.3M$334.0M$260.2M$172.5M$96.4M$175.0M$161.8M$142.2M$128.0M
Inventory $385.7M$316.0M$284.5M$245.7M$144.5M$82.5M$124.1M$112.6M$102.1M$87.5M
Total current assets $969.9M$868.0M$730.9M$720.9M$470.0M$405.7M$453.2M$328.7M$296.8M$264.5M
Property, plant and equipment ———$185.7M$133.6M$115.4M$92.8M$85.3M$68.4M$62.2M
Goodwill $362.7M$356.3M$356.0M$287.1M$221.8M$214.9M$197.7M$184.3M$173.2M$163.8M
Other intangibles $137.3M$160.4M$184.9M$155.7M$104.7M$111.7M$138.8M$130.0M$140.3M$131.1M
Total assets $2.03B$1.86B$1.71B$1.51B$1.07B$974.3M$1.01B$732.4M$687.7M$633.5M
Accounts payable $275.6M$266.8M$200.5M$163.4M$118.3M$57.5M$94.1M$87.8M$70.0M$65.5M
Short-term debt $28.2M$18.0M$53.2M$12.4M$5.1M$6.1M$721.0K$61.0K$3.8M$14.8M
Total current liabilities $473.5M$425.4M$385.8M$283.7M$197.0M$118.1M$150.2M$125.5M$108.3M$107.4M
Long-term debt $720.3M$688.7M$664.8M$653.5M$394.2M$398.1M$386.1M$278.2M$314.0M$317.7M
Total liabilities $1.42B$1.32B$1.25B$1.11B$723.6M$629.7M$677.7M$423.7M$439.1M$439.8M
Retained earnings $201.6M$141.9M$100.0M$65.4M$37.6M$42.5M$125.4M$103.3M$82.9M$68.5M
Total equity $604.3M$537.6M$454.7M$401.5M$350.2M$344.6M$335.9M$308.7M$248.6M$193.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $129.2M$153.1M$61.6M$23.1M-$19.9M$42.9M$45.0M$45.1M$31.5M$38.9M
Depreciation and amortisation $53.7M$40.6M$32.9M$24.3M$22.0M$19.8M$13.3M$10.3M$8.5M$7.1M
Stock-based compensation $21.2M$17.8M$20.0M$13.6M$11.5M$9.3M$4.4M$4.1M$3.0M$2.6M
Capital expenditure $41.4M$49.5M$57.4M$45.8M$38.8M$7.0M$16.1M$19.8M$12.3M$16.6M
Investing cash flow -$46.8M-$49.8M-$179.3M-$232.0M-$49.0M-$68.0M-$44.2M-$33.7M-$42.4M-$35.8M
Financing cash flow -$76.2M-$38.5M$9.0M$253.2M-$9.2M$78.1M$96.9M-$10.4M$19.4M$27.2M
Buybacks $15.0M$17.4M$0$0——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001517175-26-000005.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2016: 1.2B Gross profit, FY2016: 301.2M Net income, FY2016: 3M Revenue, FY2017: 1.3B Gross profit, FY2017: 329.4M Net income, FY2017: 14.4M Revenue, FY2018: 1.4B Gross profit, FY2018: 348.9M Net income, FY2018: 20.4M Revenue, FY2019: 1.6B Gross profit, FY2019: 386.6M Net income, FY2019: 24.2M Revenue, FY2020: 1.1B Gross profit, FY2020: 248.2M Net income, FY2020: -82.9M Revenue, FY2021: 1.7B Gross profit, FY2021: 390.5M Net income, FY2021: -4.9M Revenue, FY2022: 2.6B Gross profit, FY2022: 618.6M Net income, FY2022: 27.8M Revenue, FY2023: 3.4B Gross profit, FY2023: 814.5M Net income, FY2023: 34.6M Revenue, FY2024: 3.8B Gross profit, FY2024: 914.1M Net income, FY2024: 55.5M Revenue, FY2025: 4.1B Gross profit, FY2025: 1B Net income, FY2025: 72.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.19B $1.30B $1.44B $1.59B $1.11B $1.75B $2.61B $3.43B $3.79B $4.15B
Gross profit $301.2M $329.4M $348.9M $386.6M $248.2M $390.5M $618.6M $814.5M $914.1M $1.00B
Net income $3.0M $14.4M $20.4M $24.2M -$82.9M -$4.9M $27.8M $34.6M $55.5M $72.4M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 5141

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UNFI UNITED NATURAL FOODS INC $2.84B — 2.6%
DIT AMCON DISTRIBUTING CO $58.9M 65.6x 3.9%
MWYN Marwynn Holdings, Inc. $48.7M — 427.5%
WILC G WILLI FOOD INTERNATIONAL LTD — — 21.2%