UNITED NATURAL FOODS INC UNFI

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 NYSE

UNFI is a leading distributor of grocery and non-food products, and support services provider to retailers in the United States and Canada. We believe we are uniquely positioned to provide the broadest array of products, programs and services to customers throughout North America. Our diversified customer base includes over 30,000 customer locations ranging from some of the largest grocers in the country to smaller retailers. We offer approximately 230,000 products consisting of national, regional and private label brands grouped into the following main product categories: grocery and general merchandise; perishables; frozen foods; wellness and personal care items; and bulk and foodservice products. We believe we are North America's premier grocery wholesaler with 52 distribution centers and warehouses representing approximately 30 million square feet of warehouse space. We are a coast-to-coast distributor with customers in all 50 states as well as all ten provinces in Canada, making us a desirable partner for retailers and consumer product manufacturers. We believe our total product assortment and service offerings are unmatched by our wholesale competitors. We plan to continue to pursue new business opportunities with independent retailers that operate diverse formats, regional and national chains, as well as international customers with wide-ranging needs. Our business is classified into three reportable segments: Natural, Conventional and Retail.

Last close 46.88 2026-10-23
Market cap $2.84B 2026-05-02 share count
52-week range 30.91 - 57.02

Valuation FY2025 figures against the last close

P/S0.1x
P/E—
P/FCF11.9x
EV/EBITDA16.1x
Dividend yield—
Diluted EPS-1.95

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $31.78B$30.98B$30.27B$28.93B$26.95B$26.56B$22.34B$10.23B$9.27B$8.47B
Cost of revenue $27.56B$26.78B$26.14B$24.75B$23.01B$22.67B$19.12B$8.71B$7.85B$7.19B
Gross profit $4.22B$4.20B$4.13B$4.18B$3.94B$3.89B$3.22B$1.52B$1.43B$1.28B
Total operating expenses ———————$1.30B$1.20B$1.06B
Operating income -$31.0M$8.0M$120.0M$423.0M$294.0M-$193.0M-$196.0M$224.5M$226.0M$224.1M
Interest expense $146.0M$162.0M$144.0M$155.0M$204.0M$192.0M$181.0M$16.0M$16.8M$16.3M
Pre-tax income -$154.0M-$137.0M$7.0M$310.0M$183.0M-$342.0M-$341.0M$210.0M$214.4M$208.2M
Income tax $39.0M$27.0M$23.0M$56.0M$34.0M$91.0M$59.0M$47.2M$84.3M$82.5M
Net income -$118.0M-$112.0M$24.0M$248.0M$149.0M-$274.0M-$285.0M$162.8M$130.2M$125.8M
EPS, basic -1.95-1.890.414.282.65-5.10-5.563.222.57—
EPS, diluted -1.95-1.890.404.072.48-5.10-5.563.202.56—
Shares, diluted (wtd. avg.) 60.2M59.3M60.7M61.0M60.0M53.8M51.2M50.8M50.8M50.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $44.0M$40.0M$37.0M$44.0M$41.0M$47.0M$45.0M$23.3M$15.4M$18.6M
Receivables $1.06B$936.0M$887.0M$1.21B$1.11B$1.16B$1.06B$595.7M$525.6M$489.7M
Inventory $2.10B$2.18B$2.29B$2.35B$2.25B$2.28B$2.19B$1.14B$1.03B$1.02B
Total current assets $3.42B$3.40B$3.46B$3.80B$3.55B$3.71B$3.56B$1.79B$1.66B$1.61B
Property, plant and equipment ————$1.78B$1.70B$1.90B$571.1M$602.1M$616.6M
Goodwill $19.0M$19.0M$20.0M$20.0M$20.0M$20.0M$442.0M$362.5M$371.3M$366.2M
Other intangibles $576.0M$649.0M$722.0M$819.0M$891.0M$970.0M$1.09B$193.2M$208.3M$222.3M
Total assets $7.59B$7.53B$7.39B$7.63B$7.53B$7.59B$7.17B$2.96B$2.89B$2.85B
Accounts payable $1.88B$1.69B$1.78B$1.74B$1.64B$1.63B$1.53B$517.1M$534.6M$445.4M
Short-term debt $3.0M$4.0M$7.0M$14.0M$13.0M$71.0M$87.4M$10.0M$12.1M$11.9M
Total current liabilities $2.60B$2.37B$2.40B$2.42B$2.49B$2.37B$2.11B$699.2M$704.0M$619.7M
Long-term debt $1.86B$2.08B$1.96B$2.11B$2.17B$2.43B$2.82B$308.8M$149.9M$161.7M
Total liabilities $6.04B$5.89B$5.65B$5.84B$6.01B$6.45B$5.67B$1.12B$1.20B$1.33B
Retained earnings $1.02B$1.14B$1.25B$1.23B$978.0M$838.0M$1.11B$1.40B$1.24B$1.11B
Total equity $1.55B$1.64B$1.74B$1.79B$1.51B$1.14B$1.50B$1.84B$1.68B$1.52B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $470.0M$253.0M$624.0M$331.0M$614.0M$457.0M$285.0M$109.0M$273.3M$296.6M
Depreciation and amortisation $321.0M$319.0M$304.0M$285.0M$285.0M$282.0M$248.0M$87.6M$86.1M$71.0M
Stock-based compensation $43.0M$39.0M$38.0M$44.0M$45.0M$25.0M$26.0M$25.8M$25.7M$15.3M
Capital expenditure $231.0M$345.0M$323.0M$251.0M$310.0M$173.0M$228.0M$44.6M$56.1M$41.4M
Investing cash flow -$218.0M-$342.0M-$339.0M-$49.0M-$237.0M-$1.0M-$2.26B-$47.0M-$60.0M-$350.9M
Financing cash flow -$248.0M$92.0M-$292.0M-$279.0M-$384.0M-$453.0M$2.00B-$53.6M-$217.1M$56.3M
Buybacks $0$0$62.0M$0$0$0$0$24.2M$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 0001020859-25-000054.

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. -10B 0 10B 20B 30B 40B Revenue, FY2016: 8.5B Gross profit, FY2016: 1.3B Net income, FY2016: 125.8M Revenue, FY2017: 9.3B Gross profit, FY2017: 1.4B Net income, FY2017: 130.2M Revenue, FY2018: 10.2B Gross profit, FY2018: 1.5B Net income, FY2018: 162.8M Revenue, FY2019: 22.3B Gross profit, FY2019: 3.2B Net income, FY2019: -285M Revenue, FY2020: 26.6B Gross profit, FY2020: 3.9B Net income, FY2020: -274M Revenue, FY2021: 26.9B Gross profit, FY2021: 3.9B Net income, FY2021: 149M Revenue, FY2022: 28.9B Gross profit, FY2022: 4.2B Net income, FY2022: 248M Revenue, FY2023: 30.3B Gross profit, FY2023: 4.1B Net income, FY2023: 24M Revenue, FY2024: 31B Gross profit, FY2024: 4.2B Net income, FY2024: -112M Revenue, FY2025: 31.8B Gross profit, FY2025: 4.2B Net income, FY2025: -118M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $8.47B $9.27B $10.23B $22.34B $26.56B $26.95B $28.93B $30.27B $30.98B $31.78B
Gross profit $1.28B $1.43B $1.52B $3.22B $3.89B $3.94B $4.18B $4.13B $4.20B $4.22B
Net income $125.8M $130.2M $162.8M -$285.0M -$274.0M $149.0M $248.0M $24.0M -$112.0M -$118.0M

Recent filings and events

  • 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
  • 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
  • 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
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Item 7.01

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.

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