NYSE : USFD
US Foods Holding Corp. — Financial statements
Consumer Staples · Food Distribution · United States
Last price 103.61 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 22.41B
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Financial statements
US Foods Holding Corp. (USFD) reported revenue of 40.13B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 40.13B | 39.42B | 37.88B | 35.60B | 34.06B | 29.49B |
| Cost of Revenue | 33.09B | 32.56B | 31.34B | 29.45B | 28.57B | 24.83B |
| Gross Profit | 7.04B | 6.86B | 6.53B | 6.15B | 5.49B | 4.66B |
| Selling, General & Admin | 5.64B | 5.52B | 5.32B | 5.02B | 4.78B | 4.12B |
| Operating Expenses | 5.73B | 5.62B | 5.41B | 5.11B | 4.85B | 4.19B |
| Operating Income | 1.31B | 1.25B | 1.12B | 1.04B | 644.00M | 463.00M |
| Interest Expense | -306.00M | -305.00M | -315.00M | -324.00M | -255.00M | -213.00M |
| Other Non Operating Income (Expenses) | 1.00M | -1.00M | 1.00M | |||
| EBT Excluding Unusual Items | 1.01B | 943.00M | 808.00M | 719.00M | 389.00M | 251.00M |
| Merger & Restructuring Charges | -32.00M | -32.00M | -29.00M | -20.00M | -19.00M | -19.00M |
| Asset Writedown | -13.00M | -13.00M | -1.00M | -9.00M | -7.00M | |
| Other Unusual Items | -134.00M | -21.00M | -11.00M | |||
| Pretax Income | 961.00M | 898.00M | 644.00M | 678.00M | 361.00M | 214.00M |
| Income Tax Expense | 233.00M | 222.00M | 150.00M | 172.00M | 96.00M | 50.00M |
| Net Income | 728.00M | 676.00M | 494.00M | 506.00M | 265.00M | 164.00M |
| Preferred Dividends & Other Adjustments | 7.00M | 37.00M | 43.00M | |||
| Net Income to Common | 728.00M | 676.00M | 494.00M | 499.00M | 228.00M | 121.00M |
| Shares Outstanding (Basic) | 222.00M | 227.00M | 241.00M | 239.00M | 224.00M | 222.00M |
| Shares Outstanding (Diluted) | 224.00M | 230.00M | 244.00M | 250.00M | 226.00M | 225.00M |
| EPS (Basic) | 3.28 | 2.98 | 2.05 | 2.09 | 1.02 | 0.55 |
| EPS (Diluted) | 3.25 | 2.94 | 2.02 | 2.02 | 1.01 | 0.54 |
| Free Cash Flow | 946.00M | 959.00M | 833.00M | 831.00M | 500.00M | 145.00M |
| Free Cash Flow Per Share | 4.22 | 4.17 | 3.41 | 3.32 | 2.21 | 0.64 |
| Gross Margin | 17.55% | 17.41% | 17.25% | 17.27% | 16.13% | 15.79% |
| Operating Margin | 3.27% | 3.17% | 2.97% | 2.93% | 1.89% | 1.57% |
| Profit Margin | 1.81% | 1.71% | 1.30% | 1.40% | 0.67% | 0.41% |
| Free Cash Flow Margin | 2.36% | 2.43% | 2.20% | 2.33% | 1.47% | 0.49% |
| EBITDA | 1.78B | 1.71B | 1.56B | 1.44B | 1.02B | 841.00M |
| EBITDA Margin | 4.44% | 4.34% | 4.12% | 4.04% | 2.98% | 2.85% |
| D&A For EBITDA | 472.00M | 462.00M | 438.00M | 395.00M | 372.00M | 378.00M |
| EBIT | 1.31B | 1.25B | 1.12B | 1.04B | 644.00M | 463.00M |
| EBIT Margin | 3.27% | 3.17% | 2.97% | 2.93% | 1.89% | 1.57% |
| Effective Tax Rate | 24.25% | 24.72% | 23.29% | 25.37% | 26.59% | 23.36% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 56.00M | 41.00M | 59.00M | 269.00M | 211.00M | 148.00M |
| Trading Asset Securities | 1.00M | |||||
| Cash & Short-Term Investments | 56.00M | 41.00M | 59.00M | 270.00M | 211.00M | 148.00M |
| Accounts Receivable | 2.30B | 2.03B | 1.96B | 1.85B | 1.71B | 1.47B |
| Other Receivables | 251.00M | 173.00M | 167.00M | 156.00M | 143.00M | 145.00M |
| Receivables | 2.55B | 2.20B | 2.12B | 2.01B | 1.85B | 1.61B |
| Inventory | 1.70B | 1.71B | 1.63B | 1.60B | 1.62B | 1.69B |
| Prepaid Expenses | 103.00M | 153.00M | 146.00M | 138.00M | 124.00M | 120.00M |
| Other Current Assets | 35.00M | 60.00M | 19.00M | 13.00M | 21.00M | 26.00M |
| Total Current Assets | 4.45B | 4.16B | 3.97B | 4.03B | 3.82B | 3.59B |
| Property, Plant & Equipment | 2.71B | 3.01B | 2.67B | 2.57B | 2.44B | 2.31B |
| Goodwill | 5.80B | 5.79B | 5.77B | 5.70B | 5.62B | 5.62B |
| Other Intangible Assets | 753.00M | 781.00M | 836.00M | 803.00M | 785.00M | 830.00M |
| Long-Term Accounts Receivable | 94.00M | 74.00M | 50.00M | 39.00M | 31.00M | 26.00M |
| Long-Term Deferred Tax Assets | 8.00M | |||||
| Other Long-Term Assets | 529.00M | 117.00M | 141.00M | 47.00M | 76.00M | 130.00M |
| Total Assets | 14.34B | 13.94B | 13.44B | 13.19B | 12.77B | 12.52B |
| Accounts Payable | 2.79B | 2.45B | 2.23B | 2.05B | 1.85B | 1.66B |
| Accrued Expenses | 799.00M | 711.00M | 657.00M | 624.00M | 579.00M | 504.00M |
| Short-Term Debt | 168.00M | 168.00M | 216.00M | 220.00M | 175.00M | 183.00M |
| Current Portion of Long-Term Debt | 150.00M | 7.00M | 7.00M | 15.00M | 24.00M | 23.00M |
| Current Portion of Leases | 178.00M | 144.00M | 138.00M | 128.00M | 108.00M | |
| Current Income Taxes Payable | 38.00M | 2.00M | ||||
| Other Current Liabilities | 42.00M | 39.00M | 64.00M | 35.00M | 70.00M | |
| Total Current Liabilities | 3.91B | 3.59B | 3.30B | 3.11B | 2.80B | 2.55B |
| Long-Term Debt | 4.50B | 4.64B | 4.43B | 4.20B | 4.38B | 4.70B |
| Long-Term Leases | 591.00M | 734.00M | 637.00M | 632.00M | 600.00M | 464.00M |
| Pension & Post-Retirement Benefits | 5.00M | 5.00M | 6.00M | |||
| Long-Term Deferred Tax Liabilities | 439.00M | 426.00M | 335.00M | 293.00M | 298.00M | 307.00M |
| Other Long-Term Liabilities | 620.00M | 249.00M | 210.00M | 199.00M | 195.00M | 229.00M |
| Total Liabilities | 10.06B | 9.64B | 8.91B | 8.44B | 8.28B | 8.25B |
| Common Stock | 3.00M | 3.00M | 3.00M | 3.00M | 2.00M | 2.00M |
| Additional Paid-In Capital | 3.86B | 3.78B | 3.75B | 3.66B | 3.04B | 2.97B |
| Retained Earnings | 3.07B | 2.68B | 2.00B | 1.51B | 1.01B | 782.00M |
| Treasury Stock | -2.70B | -2.20B | -1.27B | -311.00M | -14.00M | |
| Comprehensive Income & Other | 48.00M | 48.00M | 43.00M | -115.00M | -73.00M | -19.00M |
| Total Common Equity | 4.28B | 4.31B | 4.53B | 4.75B | 3.96B | 3.73B |
| Shareholders' Equity | 4.28B | 4.31B | 4.53B | 4.75B | 4.50B | 4.27B |
| Total Liabilities & Equity | 14.34B | 13.94B | 13.44B | 13.19B | 12.77B | 12.52B |
| Total Debt | 5.41B | 5.72B | 5.43B | 5.20B | 5.31B | 5.47B |
| Net Cash (Debt) | -5.35B | -5.68B | -5.38B | -4.93B | -5.10B | -5.33B |
| Net Cash Per Share | -23.88 | -24.70 | -22.03 | -19.73 | -22.57 | -23.67 |
| Filing Date Shares Outstanding | 216.33M | 220.54M | 230.38M | 244.90M | 224.32M | 223.02M |
| Total Common Shares Outstanding | 216.30M | 220.50M | 230.50M | 245.10M | 224.50M | 223.00M |
| Working Capital | 536.00M | 573.00M | 678.00M | 919.00M | 1.02B | 1.04B |
| Book Value Per Share | 19.78 | 19.53 | 19.64 | 19.38 | 17.64 | 16.75 |
| Tangible Book Value | -2.27B | -2.27B | -2.07B | -1.75B | -2.45B | -2.72B |
| Tangible Book Value Per Share | -10.49 | -10.29 | -9.00 | -7.14 | -10.91 | -12.20 |
| Land | 409.00M | 409.00M | 401.00M | 397.00M | 379.00M | |
| Buildings | 1.75B | 1.67B | 1.62B | 1.64B | 1.49B | |
| Machinery | 2.84B | 2.67B | 2.63B | 2.38B | 2.17B | |
| Construction In Progress | 208.00M | 155.00M | 99.00M | 77.00M | 165.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 728.00M | 676.00M | 494.00M | 506.00M | 265.00M | 164.00M |
| Depreciation & Amortization | 472.00M | 462.00M | 438.00M | 395.00M | 372.00M | 378.00M |
| Other Amortization | 12.00M | 15.00M | ||||
| Loss (Gain) From Sale of Assets | -5.00M | -1.00M | ||||
| Asset Writedown & Restructuring Costs | 13.00M | 13.00M | 10.00M | 8.00M | ||
| Stock-Based Compensation | 92.00M | 83.00M | 63.00M | 56.00M | 45.00M | 48.00M |
| Provision & Write-off of Bad Debts | 37.00M | 35.00M | 29.00M | 24.00M | 6.00M | -24.00M |
| Other Operating Activities | 96.00M | 95.00M | 132.00M | 42.00M | 17.00M | 61.00M |
| Change in Accounts Receivable | -164.00M | -95.00M | -140.00M | -157.00M | -240.00M | -386.00M |
| Change in Inventory | -123.00M | -66.00M | -16.00M | 61.00M | 70.00M | -413.00M |
| Change in Accounts Payable | 239.00M | 143.00M | 170.00M | 200.00M | 193.00M | 471.00M |
| Change in Other Net Operating Assets | -21.00M | 23.00M | 4.00M | 13.00M | 20.00M | 98.00M |
| Operating Cash Flow | 1.37B | 1.37B | 1.17B | 1.14B | 765.00M | 419.00M |
| Capital Expenditures | -423.00M | -410.00M | -341.00M | -309.00M | -265.00M | -274.00M |
| Sale of Property, Plant & Equipment | 2.00M | 6.00M | 3.00M | 10.00M | 10.00M | 12.00M |
| Cash Acquisitions | -46.00M | -131.00M | -214.00M | -196.00M | ||
| Divestitures | 38.00M | |||||
| Investing Cash Flow | -467.00M | -497.00M | -552.00M | -495.00M | -255.00M | -262.00M |
| Short-Term Debt Issued | 14.00M | 43.00M | ||||
| Long-Term Debt Issued | 9.79B | 6.12B | 1.46B | 1.21B | 2.31B | |
| Total Debt Issued | 10.74B | 9.79B | 6.13B | 1.50B | 1.21B | 2.31B |
| Short-Term Debt Repaid | -14.00M | -43.00M | ||||
| Long-Term Debt Repaid | -9.70B | -6.01B | -1.77B | -1.62B | -3.10B | |
| Total Debt Repaid | -10.48B | -9.70B | -6.03B | -1.81B | -1.62B | -3.10B |
| Net Debt Issued (Repaid) | 263.00M | 91.00M | 108.00M | -310.00M | -413.00M | -800.00M |
| Issuance of Common Stock | 40.00M | 34.00M | 43.00M | 50.00M | 37.00M | 35.00M |
| Repurchase of Common Stock | -1.21B | -1.01B | -969.00M | -306.00M | -30.00M | -14.00M |
| Preferred Dividends Paid | -7.00M | -37.00M | -28.00M | |||
| Dividends Paid | -7.00M | -37.00M | -28.00M | |||
| Other Financing Activities | -4.00M | -1.00M | -13.00M | -14.00M | -4.00M | -30.00M |
| Financing Cash Flow | -907.00M | -890.00M | -831.00M | -587.00M | -447.00M | -837.00M |
| Net Cash Flow | -5.00M | -18.00M | -209.00M | 58.00M | 63.00M | -680.00M |
| Free Cash Flow | 946.00M | 959.00M | 833.00M | 831.00M | 500.00M | 145.00M |
| Free Cash Flow Margin | 2.36% | 2.43% | 2.20% | 2.33% | 1.47% | 0.49% |
| Free Cash Flow Per Share | 4.22 | 4.17 | 3.41 | 3.32 | 2.21 | 0.64 |
| Levered Free Cash Flow | 805.12M | 825.38M | 701.62M | 709.38M | 477.12M | 79.25M |
| Unlevered Free Cash Flow | 996.38M | 1.02B | 898.50M | 911.88M | 624.50M | 197.38M |
| Cash Interest Paid | 301.00M | 300.00M | 284.00M | 294.00M | 243.00M | 185.00M |
| Cash Income Tax Paid | 102.00M | 89.00M | 181.00M | 161.00M | 68.00M | 1.00M |
| Change in Working Capital | -69.00M | 5.00M | 18.00M | 117.00M | 43.00M | -230.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 22.41B | 17.03B | 15.88B | 11.16B | 7.65B | 7.76B |
| Enterprise Value | 27.76B | 22.09B | 20.77B | 15.72B | 12.97B | 13.10B |
| Last Close Price | 103.61 | 76.37 | 68.17 | 45.41 | 34.02 | 34.83 |
| PE Ratio | 31.90 | 25.19 | 32.15 | 22.37 | 33.56 | 64.13 |
| Forward PE | 20.05 | 17.15 | 18.58 | 14.75 | 13.68 | 15.68 |
| PS Ratio | 0.56 | 0.43 | 0.42 | 0.31 | 0.23 | 0.26 |
| PB Ratio | 5.24 | 3.95 | 3.51 | 2.35 | 1.70 | 1.82 |
| P/FCF Ratio | 23.69 | 17.75 | 19.06 | 13.44 | 15.30 | 53.52 |
| P/OCF Ratio | 16.37 | 12.44 | 13.53 | 9.79 | 10.00 | 18.52 |
| PEG Ratio | 1.01 | 1.10 | 0.94 | 0.70 | 0.19 | 2.61 |
| EV/Sales Ratio | 0.69 | 0.56 | 0.55 | 0.44 | 0.38 | 0.44 |
| EV/EBITDA Ratio | 15.57 | 12.92 | 13.29 | 10.93 | 12.77 | 15.58 |
| EV/EBIT Ratio | 21.18 | 17.70 | 18.48 | 15.07 | 20.15 | 28.29 |
| EV/FCF Ratio | 29.35 | 23.03 | 24.93 | 18.91 | 25.95 | 90.34 |
| Debt / Equity Ratio | 1.26 | 1.33 | 1.20 | 1.09 | 1.18 | 1.28 |
| Debt / EBITDA Ratio | 2.89 | 3.18 | 3.31 | 3.44 | 4.84 | 6.01 |
| Debt / FCF Ratio | 5.71 | 5.97 | 6.52 | 6.26 | 10.62 | 37.75 |
| Net Debt / Equity Ratio | 1.25 | 1.32 | 1.19 | 1.04 | 1.14 | 1.25 |
| Net Debt / EBITDA Ratio | 3.00 | 3.32 | 3.44 | 3.43 | 5.02 | 6.33 |
| Net Debt / FCF Ratio | 5.65 | 5.92 | 6.45 | 5.93 | 10.20 | 36.73 |
| Asset Turnover | 2.85 | 2.88 | 2.85 | 2.74 | 2.69 | 2.36 |
| Inventory Turnover | 20.19 | 19.52 | 19.43 | 18.31 | 17.30 | 16.78 |
| Quick Ratio | 0.67 | 0.62 | 0.66 | 0.73 | 0.74 | 0.69 |
| Current Ratio | 1.14 | 1.16 | 1.21 | 1.29 | 1.37 | 1.41 |
| Return on Equity (ROE) | 16.35% | 15.30% | 10.65% | 10.95% | 6.05% | 3.94% |
| Return on Assets (ROA) | 5.83% | 5.70% | 5.28% | 5.02% | 3.18% | 2.32% |
| Return on Invested Capital (ROIC) | 10.32% | 9.45% | 8.80% | 8.08% | 4.93% | 3.73% |
| Return on Capital Employed (ROCE) | 12.60% | 12.10% | 11.10% | 10.40% | 6.50% | 4.60% |
| Earnings Yield | 3.14% | 3.97% | 3.11% | 4.53% | 3.46% | 2.11% |
| FCF Yield | 4.22% | 5.63% | 5.25% | 7.44% | 6.54% | 1.87% |
| Payout Ratio | 1.38% | 13.96% | 17.07% | |||
| Buyback Yield / Dilution | 5.49% | 5.74% | 2.40% | -10.62% | -0.44% | -2.27% |