NYSE : UNFI
United Natural Foods, Inc. — Financial statements
Consumer Staples · Food Distribution · United States
Last price 45.87 USD (Oct 30, 2026, 4:00 PM EST) · Market cap 2.77B
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Financial statements
United Natural Foods, Inc. (UNFI) reported revenue of 31.15B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year September - August; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 31.15B | 31.15B | 31.78B | 30.98B | 30.27B | 28.93B |
| Cost of Revenue | 26.94B | 26.94B | 27.55B | 26.78B | 26.14B | 24.75B |
| Gross Profit | 4.22B | 4.22B | 4.24B | 4.20B | 4.13B | 4.18B |
| Selling, General & Admin | 3.88B | 3.88B | 4.02B | 4.08B | 3.94B | 3.77B |
| Other Operating Expenses | 9.00M | 9.00M | 21.00M | 21.00M | 14.00M | |
| Operating Expenses | 3.89B | 3.89B | 4.04B | 4.11B | 3.96B | 3.79B |
| Operating Income | 328.00M | 328.00M | 192.00M | 95.00M | 173.00M | 397.00M |
| Interest Expense | -125.00M | -125.00M | -145.00M | -162.00M | -144.00M | -155.00M |
| Interest & Investment Income | 1.00M | 1.00M | 3.00M | |||
| Other Non Operating Income (Expenses) | -6.00M | -6.00M | 3.00M | 2.00M | 2.00M | 2.00M |
| EBT Excluding Unusual Items | 198.00M | 198.00M | 53.00M | -65.00M | 31.00M | 244.00M |
| Merger & Restructuring Charges | -86.00M | -86.00M | -141.00M | -36.00M | -8.00M | -21.00M |
| Gain (Loss) on Sale of Assets | 12.00M | 12.00M | 4.00M | 7.00M | 9.00M | 87.00M |
| Asset Writedown | -30.00M | -30.00M | -25.00M | -43.00M | -25.00M | |
| Legal Settlements | -11.00M | -11.00M | -15.00M | |||
| Other Unusual Items | -26.00M | -26.00M | -30.00M | |||
| Pretax Income | 102.00M | 102.00M | -154.00M | -137.00M | 7.00M | 310.00M |
| Income Tax Expense | 18.00M | 18.00M | -39.00M | -27.00M | -23.00M | 56.00M |
| Earnings From Continuing Operations | 84.00M | 84.00M | -115.00M | -110.00M | 30.00M | 254.00M |
| Net Income to Company | 84.00M | 84.00M | -115.00M | -110.00M | 30.00M | 254.00M |
| Minority Interest in Earnings | -3.00M | -2.00M | -6.00M | -6.00M | ||
| Net Income | 84.00M | 84.00M | -118.00M | -112.00M | 24.00M | 248.00M |
| Net Income to Common | 84.00M | 84.00M | -118.00M | -112.00M | 24.00M | 248.00M |
| Shares Outstanding (Basic) | 60.70M | 60.70M | 60.20M | 59.30M | 59.20M | 58.00M |
| Shares Outstanding (Diluted) | 62.80M | 62.80M | 60.20M | 59.30M | 60.70M | 61.00M |
| EPS (Basic) | 1.38 | 1.38 | -1.96 | -1.89 | 0.41 | 4.28 |
| EPS (Diluted) | 1.34 | 1.34 | -1.96 | -1.89 | 0.40 | 4.07 |
| Free Cash Flow | 323.00M | 323.00M | 239.00M | -92.00M | 301.00M | 80.00M |
| Free Cash Flow Per Share | 5.14 | 5.14 | 3.97 | -1.55 | 4.96 | 1.31 |
| Gross Margin | 13.53% | 13.53% | 13.33% | 13.56% | 13.65% | 14.46% |
| Operating Margin | 1.05% | 1.05% | 0.60% | 0.31% | 0.57% | 1.37% |
| Profit Margin | 0.27% | 0.27% | -0.37% | -0.36% | 0.08% | 0.86% |
| Free Cash Flow Margin | 1.04% | 1.04% | 0.75% | -0.30% | 0.99% | 0.28% |
| EBITDA | 631.00M | 631.00M | 513.00M | 414.00M | 477.00M | 682.00M |
| EBITDA Margin | 2.03% | 2.03% | 1.61% | 1.34% | 1.58% | 2.36% |
| D&A For EBITDA | 303.00M | 303.00M | 321.00M | 319.00M | 304.00M | 285.00M |
| EBIT | 328.00M | 328.00M | 192.00M | 95.00M | 173.00M | 397.00M |
| EBIT Margin | 1.05% | 1.05% | 0.60% | 0.31% | 0.57% | 1.37% |
| Effective Tax Rate | 17.65% | 17.65% | 18.07% |
Balance sheet
Fiscal year September - August; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 37.00M | 37.00M | 44.00M | 40.00M | 37.00M | 44.00M |
| Trading Asset Securities | 1.00M | 1.00M | 1.00M | 5.00M | 17.00M | 3.00M |
| Cash & Short-Term Investments | 38.00M | 38.00M | 45.00M | 45.00M | 54.00M | 47.00M |
| Accounts Receivable | 851.00M | 851.00M | 1.02B | 915.00M | 870.00M | 1.20B |
| Other Receivables | 70.00M | 70.00M | 68.00M | 38.00M | 19.00M | 31.00M |
| Receivables | 923.00M | 923.00M | 1.09B | 956.00M | 892.00M | 1.23B |
| Inventory | 1.95B | 1.95B | 2.10B | 2.18B | 2.29B | 2.35B |
| Prepaid Expenses | 227.00M | 227.00M | 188.00M | 221.00M | 225.00M | 160.00M |
| Other Current Assets | 4.00M | 4.00M | 1.00M | 3.00M | ||
| Total Current Assets | 3.14B | 3.14B | 3.42B | 3.40B | 3.46B | 3.80B |
| Property, Plant & Equipment | 3.05B | 3.05B | 3.22B | 3.19B | 3.00B | 2.87B |
| Long-Term Investments | 1.00M | 1.00M | 5.00M | 1.00M | ||
| Goodwill | 19.00M | 19.00M | 19.00M | 19.00M | 20.00M | 20.00M |
| Other Intangible Assets | 509.00M | 509.00M | 576.00M | 649.00M | 722.00M | 819.00M |
| Long-Term Deferred Tax Assets | 158.00M | 158.00M | 162.00M | 87.00M | 32.00M | |
| Other Long-Term Assets | 221.00M | 221.00M | 185.00M | 174.00M | 150.00M | 113.00M |
| Total Assets | 7.11B | 7.11B | 7.59B | 7.53B | 7.39B | 7.63B |
| Accounts Payable | 1.77B | 1.77B | 1.88B | 1.69B | 1.78B | 1.74B |
| Accrued Expenses | 519.00M | 519.00M | 546.00M | 483.00M | 425.00M | 492.00M |
| Current Portion of Long-Term Debt | 2.00M | 2.00M | 3.00M | 4.00M | 7.00M | 14.00M |
| Current Portion of Leases | 146.00M | 146.00M | 178.00M | 188.00M | 191.00M | 169.00M |
| Other Current Liabilities | 2.00M | 1.00M | ||||
| Total Current Liabilities | 2.44B | 2.44B | 2.60B | 2.37B | 2.40B | 2.42B |
| Long-Term Debt | 1.56B | 1.56B | 1.86B | 2.09B | 1.96B | 2.11B |
| Long-Term Leases | 1.33B | 1.33B | 1.41B | 1.27B | 1.11B | 1.09B |
| Pension & Post-Retirement Benefits | 13.00M | 13.00M | 14.00M | 15.00M | 93.00M | 117.00M |
| Long-Term Deferred Tax Liabilities | 8.00M | |||||
| Other Long-Term Liabilities | 149.00M | 149.00M | 152.00M | 146.00M | 85.00M | 93.00M |
| Total Liabilities | 5.49B | 5.49B | 6.04B | 5.89B | 5.65B | 5.84B |
| Common Stock | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M |
| Additional Paid-In Capital | 690.00M | 690.00M | 658.00M | 635.00M | 606.00M | 608.00M |
| Retained Earnings | 1.10B | 1.10B | 1.02B | 1.14B | 1.25B | 1.23B |
| Treasury Stock | -136.00M | -136.00M | -86.00M | -86.00M | -86.00M | -24.00M |
| Comprehensive Income & Other | -38.00M | -38.00M | -42.00M | -47.00M | -28.00M | -20.00M |
| Total Common Equity | 1.62B | 1.62B | 1.55B | 1.64B | 1.74B | 1.79B |
| Minority Interest | 1.00M | 1.00M | 3.00M | 1.00M | 1.00M | |
| Shareholders' Equity | 1.62B | 1.62B | 1.55B | 1.64B | 1.74B | 1.79B |
| Total Liabilities & Equity | 7.11B | 7.11B | 7.59B | 7.53B | 7.39B | 7.63B |
| Total Debt | 3.04B | 3.04B | 3.45B | 3.55B | 3.27B | 3.38B |
| Net Cash (Debt) | -3.00B | -3.00B | -3.41B | -3.51B | -3.21B | -3.34B |
| Net Cash Per Share | -47.72 | -47.72 | -56.63 | -59.16 | -52.90 | -54.70 |
| Filing Date Shares Outstanding | 60.32M | 60.32M | 60.65M | 59.52M | 58.50M | 58.31M |
| Total Common Shares Outstanding | 60.30M | 60.30M | 60.60M | 59.50M | 58.50M | 58.30M |
| Working Capital | 700.00M | 700.00M | 821.00M | 1.04B | 1.06B | 1.38B |
| Book Value Per Share | 26.88 | 26.88 | 25.59 | 27.58 | 29.79 | 30.72 |
| Tangible Book Value | 1.09B | 1.09B | 956.00M | 973.00M | 1.00B | 952.00M |
| Tangible Book Value Per Share | 18.13 | 18.13 | 15.78 | 16.35 | 17.11 | 16.33 |
| Land | 101.00M | 101.00M | 113.00M | 123.00M | 136.00M | 137.00M |
| Buildings | 992.00M | 992.00M | 1.00B | 1.03B | 1.02B | 998.00M |
| Machinery | 1.78B | 1.78B | 1.71B | 1.53B | 1.34B | 1.20B |
| Construction In Progress | 168.00M | 168.00M | 200.00M | 215.00M | 186.00M | 140.00M |
| Leasehold Improvements | 315.00M | 315.00M | 304.00M | 303.00M | 284.00M | 241.00M |
Cash flow statement
Fiscal year September - August; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 84.00M | 84.00M | -118.00M | -112.00M | 24.00M | 248.00M |
| Depreciation & Amortization | 303.00M | 303.00M | 321.00M | 319.00M | 304.00M | 285.00M |
| Other Amortization | 6.00M | 6.00M | 6.00M | |||
| Loss (Gain) From Sale of Assets | -12.00M | -12.00M | -4.00M | -7.00M | -9.00M | -87.00M |
| Asset Writedown & Restructuring Costs | 30.00M | 30.00M | 25.00M | 43.00M | 25.00M | 2.00M |
| Stock-Based Compensation | 61.00M | 61.00M | 43.00M | 39.00M | 38.00M | 44.00M |
| Provision & Write-off of Bad Debts | 34.00M | 34.00M | 3.00M | 3.00M | -1.00M | 2.00M |
| Other Operating Activities | 24.00M | 24.00M | -72.00M | -37.00M | 73.00M | 203.00M |
| Change in Accounts Receivable | 131.00M | 131.00M | -142.00M | -68.00M | 327.00M | -108.00M |
| Change in Inventory | 130.00M | 130.00M | 87.00M | 104.00M | -57.00M | -264.00M |
| Change in Accounts Payable | -119.00M | -119.00M | 200.00M | -81.00M | 53.00M | 86.00M |
| Change in Other Net Operating Assets | -132.00M | -132.00M | 121.00M | 50.00M | -153.00M | -80.00M |
| Operating Cash Flow | 540.00M | 540.00M | 470.00M | 253.00M | 624.00M | 331.00M |
| Capital Expenditures | -217.00M | -217.00M | -231.00M | -345.00M | -323.00M | -251.00M |
| Sale of Property, Plant & Equipment | 56.00M | 56.00M | 30.00M | 25.00M | 16.00M | 230.00M |
| Investment in Securities | -8.00M | -8.00M | -17.00M | -22.00M | -32.00M | -28.00M |
| Investing Cash Flow | -169.00M | -169.00M | -218.00M | -342.00M | -339.00M | -49.00M |
| Long-Term Debt Issued | 3.53B | 3.53B | 3.54B | 2.59B | 2.98B | 4.42B |
| Total Debt Issued | 3.53B | 3.53B | 3.54B | 2.59B | 2.98B | 4.42B |
| Long-Term Debt Repaid | -3.83B | -3.83B | -3.77B | -2.46B | -3.16B | -4.66B |
| Net Debt Issued (Repaid) | -302.00M | -302.00M | -233.00M | 123.00M | -184.00M | -238.00M |
| Issuance of Common Stock | 8.00M | |||||
| Repurchase of Common Stock | -65.00M | -65.00M | -10.00M | -7.00M | -102.00M | -41.00M |
| Other Financing Activities | -10.00M | -10.00M | -5.00M | -24.00M | -6.00M | -8.00M |
| Financing Cash Flow | -377.00M | -377.00M | -248.00M | 92.00M | -292.00M | -279.00M |
| Foreign Exchange Rate Adjustments | -1.00M | -1.00M | ||||
| Net Cash Flow | -7.00M | -7.00M | 4.00M | 3.00M | -7.00M | 3.00M |
| Free Cash Flow | 323.00M | 323.00M | 239.00M | -92.00M | 301.00M | 80.00M |
| Free Cash Flow Margin | 1.04% | 1.04% | 0.75% | -0.30% | 0.99% | 0.28% |
| Free Cash Flow Per Share | 5.14 | 5.14 | 3.97 | -1.55 | 4.96 | 1.31 |
| Levered Free Cash Flow | 426.88M | 426.88M | 395.38M | -10.88M | 351.12M | 23.25M |
| Unlevered Free Cash Flow | 499.00M | 499.00M | 480.00M | 90.38M | 441.12M | 120.12M |
| Cash Interest Paid | 127.00M | 127.00M | 147.00M | 159.00M | 133.00M | 134.00M |
| Cash Income Tax Paid | 7.00M | 7.00M | 4.00M | -14.00M | -5.00M | 5.00M |
| Change in Working Capital | 10.00M | 10.00M | 266.00M | 5.00M | 170.00M | -366.00M |
Ratios
Fiscal year September - August; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.82B | 3.08B | 1.64B | 868.26M | 1.21B | 2.48B |
| Enterprise Value | 5.82B | 6.19B | 5.17B | 4.44B | 4.51B | 6.10B |
| Last Close Price | 45.87 | 50.83 | 27.01 | 14.60 | 20.72 | 42.51 |
| PE Ratio | 34.93 | 36.62 | 50.59 | 9.99 | ||
| Forward PE | 13.99 | 16.44 | 29.66 | 37.92 | 18.35 | 8.78 |
| PS Ratio | 0.09 | 0.10 | 0.05 | 0.03 | 0.04 | 0.09 |
| PB Ratio | 1.71 | 1.90 | 1.05 | 0.53 | 0.70 | 1.38 |
| P/TBV Ratio | 2.58 | 2.81 | 1.71 | 0.89 | 1.21 | 2.60 |
| P/FCF Ratio | 8.74 | 9.52 | 6.84 | 4.03 | 30.98 | |
| P/OCF Ratio | 5.23 | 5.70 | 3.48 | 3.43 | 1.95 | 7.49 |
| PEG Ratio | 0.21 | 0.21 | 0.86 | 0.86 | 0.66 | |
| EV/Sales Ratio | 0.19 | 0.20 | 0.16 | 0.14 | 0.15 | 0.21 |
| EV/EBITDA Ratio | 9.22 | 9.81 | 10.07 | 10.73 | 9.45 | 8.95 |
| EV/EBIT Ratio | 17.74 | 18.87 | 26.91 | 46.78 | 26.05 | 15.37 |
| EV/FCF Ratio | 18.02 | 19.16 | 21.61 | 14.97 | 76.26 | |
| Debt / Equity Ratio | 1.87 | 1.87 | 2.22 | 2.17 | 1.87 | 1.89 |
| Debt / EBITDA Ratio | 2.98 | 2.98 | 3.74 | 4.47 | 4.06 | 3.43 |
| Debt / FCF Ratio | 9.40 | 9.40 | 14.45 | 10.85 | 42.30 | |
| Net Debt / Equity Ratio | 1.85 | 1.85 | 2.19 | 2.14 | 1.84 | 1.86 |
| Net Debt / EBITDA Ratio | 4.75 | 4.75 | 6.64 | 8.47 | 6.73 | 4.89 |
| Net Debt / FCF Ratio | 9.28 | 9.28 | 14.26 | -38.13 | 10.67 | 41.71 |
| Asset Turnover | 4.24 | 4.24 | 4.20 | 4.15 | 4.03 | 3.82 |
| Inventory Turnover | 13.33 | 13.33 | 12.89 | 11.98 | 11.25 | 10.75 |
| Quick Ratio | 0.39 | 0.39 | 0.44 | 0.42 | 0.39 | 0.53 |
| Current Ratio | 1.29 | 1.29 | 1.32 | 1.44 | 1.44 | 1.57 |
| Return on Equity (ROE) | 5.29% | 5.29% | -7.20% | -6.50% | 1.70% | 15.37% |
| Return on Assets (ROA) | 2.79% | 2.79% | 1.59% | 0.80% | 1.44% | 3.28% |
| Return on Invested Capital (ROIC) | 5.79% | 5.64% | 3.80% | 1.88% | 3.43% | 6.44% |
| Return on Capital Employed (ROCE) | 7.00% | 7.00% | 3.80% | 1.80% | 3.50% | 7.60% |
| Earnings Yield | 2.86% | 2.73% | -7.21% | -12.90% | 1.98% | 10.01% |
| FCF Yield | 11.44% | 10.50% | 14.61% | -10.60% | 24.79% | 3.23% |
| Buyback Yield / Dilution | -4.32% | -4.32% | -1.52% | 2.31% | 0.49% | -1.67% |