United Natural Foods, Inc. (UNFI) 10-Year Financial Performance & Capital Metrics

UNFI • • Industrial / General

Consumer DefensiveFood DistributionRetail & Convenience DistributionHealth & Natural Foods Retailers

AboutUnited Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It operates in two segments, Wholesale and Retail. The company offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care items. It also provides Woodstock brand imports, roasts, packages, and distributes nuts, dried fruits, seeds, trail mixes, granola, natural and organic snack items, and confections. In addition, the company is involved in importing, roasting, packaging, and distributing nuts, dried fruits, seeds, trail mixes, granola, natural and organic snack items, and confections. Further, it offers Blue Marble Brands products through wholesale segment, third-party distributors, and directly to retailers; and Field Day brand products primarily to customers through its independent channel. Additionally, the company provides general merchandise, home, health and beauty care, and pharmacy products, as well as private label products through a network of 74 Cub Foods and Shoppers retail grocery stores; professional services, such as retail store support, advertising, couponing, e-commerce, consumer convenience services, store design, equipment sourcing, electronic payments processing, network and data hosting solutions, and administrative back-office solutions; and marketing services comprising consumer and trade marketing programs, as well as programs to support suppliers in understanding its markets. The company serves chains, independent retailers, and supernatural chains, as well as foodservice, e-commerce, conventional military business, and other sales customers. United Natural Foods, Inc. was founded in 1976 and is headquartered in Providence, Rhode Island.Show more

Revenue $31.78B +2.6%
EBITDA $290M -11.3%
Net Income -$118M -5.4%
EPS (Diluted) -1.96 -3.7%
Gross Margin 13.28% -2.0%
EBITDA Margin 0.91% -13.6%
Operating Margin -0.1% -477.9%
Net Margin -0.37% -2.7%
ROE -7.39% -11.6%
ROIC -0.46% -487.8%
Debt/Equity 2.22 +2.7%
Interest Coverage -0.20 -467.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 1.4x book value
✓Efficient asset utilization: 4.2x turnover

✗Weaknesses

✗High debt to equity ratio of 2.2x
✗Thin 5Y average net margin of 0.2%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y14.53%

5Y3.69%

3Y3.19%

TTM2.6%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-5.36%

EPS CAGR

10Y-

5Y-

3Y-

TTM-3.71%

ROCE

10Y Avg6.22%

5Y Avg3.74%

3Y Avg0.63%

Latest-0.61%

Peer Comparison

Health & Natural Foods Retailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UNFIUnited Natural Foods, Inc.	2.15B	35.22	-17.97	2.6%	-0.37%	-7.59%	21.9%	2.22

Profit & Loss

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Sales/Revenue+	8.47B	9.27B	10.23B	21.39B	26.51B	26.95B	28.93B	30.27B	30.98B	31.78B
Revenue Growth %	0.03%	0.09%	0.1%	1.09%	0.24%	0.02%	0.07%	0.05%	0.02%	0.03%
Cost of Goods Sold+	7.19B	7.85B	8.7B	18.6B	22.64B	23.01B	24.75B	26.14B	26.78B	27.56B
COGS % of Revenue	0.85%	0.85%	0.85%	0.87%	0.85%	0.85%	0.86%	0.86%	0.86%	0.87%
Gross Profit+	1.28B	1.43B	1.52B	2.79B	3.87B	3.94B	4.18B	4.13B	4.2B	4.22B
Gross Margin %	0.15%	0.15%	0.15%	0.13%	0.15%	0.15%	0.14%	0.14%	0.14%	0.13%
Gross Profit Growth %	0.01%	0.12%	0.07%	0.83%	0.39%	0.02%	0.06%	-0.01%	0.02%	0%
Operating Expenses+	1.05B	1.2B	1.28B	2.63B	3.54B	3.59B	3.83B	3.94B	4.19B	4.25B
OpEx % of Revenue	0.12%	0.13%	0.13%	0.12%	0.13%	0.13%	0.13%	0.13%	0.14%	0.13%
Selling, General & Admin	1.05B	1.2B	1.28B	2.94B	3.5B	3.5B	3.77B	3.91B	4.03B	0
SG&A % of Revenue	0.12%	0.13%	0.13%	0.14%	0.13%	0.13%	0.13%	0.13%	0.13%	-
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-743K	5.15M	1.54M	2.63B	3.54B	3.59B	3.83B	2M	166M	4.25B
Operating Income+	224.11M	226.03M	227.22M	190.98M	376.07M	439M	423M	120M	8M	-31M
Operating Margin %	0.03%	0.02%	0.02%	0.01%	0.01%	0.02%	0.01%	0%	0%	-0%
Operating Income Growth %	-0.07%	0.01%	0.01%	-0.16%	0.97%	0.17%	-0.04%	-0.72%	-0.93%	-4.88%
EBITDA+	295.12M	311.02M	313.73M	440.88M	665.07M	726M	708M	424M	327M	290M
EBITDA Margin %	0.03%	0.03%	0.03%	0.02%	0.03%	0.03%	0.02%	0.01%	0.01%	0.01%
EBITDA Growth %	-0.03%	0.05%	0.01%	0.41%	0.51%	0.09%	-0.02%	-0.4%	-0.23%	-0.11%
D&A (Non-Cash Add-back)	71.01M	85M	86.5M	249.9M	289M	287M	285M	304M	319M	321M
EBIT	231.86M	231.54M	229.22M	-160M	-174M	312M	447M	140M	9M	0
Net Interest Income+	-15.14M	-16.75M	-16.02M	-181M	-192M	-204M	-112M	-141M	-152M	-151M
Interest Income	1.11M	360K	446K	774K	2.2M	0	1M	2M	0	3M
Interest Expense	16.26M	17.11M	16.47M	179.96M	191.61M	204M	113M	144M	146M	154M
Other Income/Expense	-15.89M	-11.6M	-14.48M	-148.46M	-149M	-111M	-113M	-113M	-145M	-123M
Pretax Income+	208.22M	214.42M	212.75M	-435.29M	-344.45M	183M	310M	7M	-137M	-154M
Pretax Margin %	0.02%	0.02%	0.02%	-0.02%	-0.01%	0.01%	0.01%	0%	-0%	-0%
Income Tax+	82.46M	84.27M	47.08M	-84.61M	-90.44M	34M	56M	-23M	-27M	-39M
Effective Tax Rate %	0.6%	0.61%	0.78%	0.81%	0.74%	0.81%	0.8%	3.43%	0.82%	0.77%
Net Income+	125.77M	130.16M	165.67M	-350.68M	-254.01M	149M	248M	24M	-112M	-118M
Net Margin %	0.01%	0.01%	0.02%	-0.02%	-0.01%	0.01%	0.01%	0%	-0%	-0%
Net Income Growth %	-0.09%	0.03%	0.27%	-3.12%	0.28%	1.59%	0.66%	-0.9%	-5.67%	-0.05%
Net Income (Continuing)	125.77M	130.16M	165.67M	-285.52M	-251M	149M	254M	30M	-110M	-115M
Discontinued Operations	0	0	0	-3M	0	0	0	0	0	0
Minority Interest	0	0	0	-2.74M	-2.49M	-1M	1M	1M	0	3M
EPS (Diluted)+	2.50	2.56	3.26	-6.85	-4.72	2.48	4.07	0.40	-1.89	-1.96
EPS Growth %	-0.09%	0.02%	0.27%	-3.1%	0.31%	1.53%	0.64%	-0.9%	-5.72%	-0.04%
EPS (Basic)	2.50	2.57	3.28	-6.85	-4.72	2.65	4.28	0.41	-1.89	-1.96
Diluted Shares Outstanding	50.4M	50.77M	50.84M	51.2M	53.8M	60M	61M	60.7M	59.3M	60.2M
Basic Shares Outstanding	50.31M	50.57M	50.53M	51.18M	53.78M	60M	58M	59.2M	59.3M	60.2M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Total Current Assets+	1.61B	1.66B	1.79B	3.57B	3.7B	3.55B	3.8B	3.46B	3.4B	3.42B
Cash & Short-Term Investments	18.59M	15.41M	23.32M	42.35M	46.99M	41M	44M	37M	40M	44M
Cash Only	18.59M	15.41M	23.32M	42.35M	46.99M	41M	44M	37M	40M	44M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	489.71M	525.64M	579.7M	1.04B	1.1B	1.1B	1.21B	889M	953M	1.09B
Days Sales Outstanding	21.1	20.69	20.69	17.81	15.16	14.94	15.32	10.72	11.23	12.55
Inventory	1.02B	1.03B	1.14B	2.09B	2.28B	2.25B	2.35B	2.29B	2.18B	2.1B
Days Inventory Outstanding	51.86	48	47.63	41	36.77	35.64	34.74	32	29.7	27.74
Other Current Assets	81.23M	89.93M	50.12M	56.15M	71M	2M	0	245M	230M	191M
Total Non-Current Assets+	1.24B	1.22B	1.18B	3.61B	3.88B	3.98B	3.83B	3.93B	4.13B	4.17B
Property, Plant & Equipment	616.61M	602.09M	571.15M	1.64B	2.68B	2.85B	2.87B	3B	3.19B	3.22B
Fixed Asset Turnover	13.74x	15.40x	17.91x	13.05x	9.88x	9.46x	10.09x	10.11x	9.71x	9.86x
Goodwill	366.17M	371.26M	362.5M	442.26M	19.61M	20M	20M	20M	19M	19M
Intangible Assets	222.31M	208.29M	193.21M	1.04B	969.6M	891M	819M	722M	649M	576M
Long-Term Investments	-35.23M	-40.63M	-44.38M	36.35M	28M	17M	13M	12M	2M	7M
Other Non-Current Assets	35.88M	42.26M	48.71M	423.03M	73.2M	142M	105M	150M	179M	185M
Total Assets+	2.85B	2.89B	2.96B	7.18B	7.59B	7.53B	7.63B	7.39B	7.53B	7.59B
Asset Turnover	2.97x	3.21x	3.45x	2.98x	3.49x	3.58x	3.79x	4.09x	4.12x	4.18x
Asset Growth %	0.12%	0.01%	0.03%	1.42%	0.06%	-0.01%	0.01%	-0.03%	0.02%	0.01%
Total Current Liabilities+	619.72M	703.99M	699.22M	2.11B	2.37B	2.49B	2.42B	2.4B	2.37B	2.6B
Accounts Payable	445.43M	534.62M	517.13M	1.53B	1.63B	1.64B	1.74B	1.78B	1.69B	1.88B
Days Payables Outstanding	22.61	24.87	21.69	30.07	26.34	26.08	25.69	24.87	23.01	24.83
Short-Term Debt	11.85M	12.13M	12.44M	112.1M	118M	255M	27M	18M	4M	181M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	80.16M	70.53M	0	276.05M	10M	-204M	0	1M	204M	546M
Current Ratio	2.60x	2.36x	2.56x	1.69x	1.56x	1.43x	1.57x	1.44x	1.44x	1.32x
Quick Ratio	0.95x	0.90x	0.93x	0.70x	0.60x	0.52x	0.60x	0.49x	0.52x	0.51x
Cash Conversion Cycle	50.35	43.81	46.63	28.74	25.58	24.5	24.36	17.85	17.92	15.47
Total Non-Current Liabilities+	712.93M	500.65M	419.29M	3.56B	4.07B	3.52B	3.42B	3.25B	3.52B	3.44B
Long-Term Debt	588.26M	373.48M	347.71M	2.82B	2.52B	2.17B	2.11B	1.96B	2.08B	3.27B
Capital Lease Obligations	0	0	31.49M	108.21M	1.02B	997M	1.09B	1.11B	1.27B	1.41B
Deferred Tax Liabilities	95.22M	98.83M	44.38M	1.04M	507M	485M	8M	478M	0	0
Other Non-Current Liabilities	29.45M	28.35M	-4.29M	393.6M	539M	352M	212M	178M	166M	169M
Total Liabilities	1.33B	1.2B	1.12B	5.67B	6.44B	6.01B	5.84B	5.65B	5.89B	6.04B
Total Debt+	600.11M	385.6M	360.15M	3.04B	3.66B	3.43B	3.38B	3.27B	3.55B	3.45B
Net Debt	581.52M	370.19M	336.83M	3B	3.61B	3.39B	3.34B	3.23B	3.51B	3.41B
Debt / Equity	0.39x	0.23x	0.20x	2.01x	3.20x	2.26x	1.89x	1.87x	2.16x	2.22x
Debt / EBITDA	2.03x	1.24x	1.15x	6.89x	5.50x	4.72x	4.78x	7.70x	10.85x	11.90x
Net Debt / EBITDA	1.97x	1.19x	1.07x	6.80x	5.43x	4.66x	4.71x	7.61x	10.73x	11.75x
Interest Coverage	13.78x	13.21x	13.80x	1.06x	1.96x	2.15x	3.74x	0.83x	0.05x	-0.20x
Total Equity+	1.52B	1.68B	1.85B	1.51B	1.14B	1.51B	1.79B	1.74B	1.64B	1.55B
Equity Growth %	0.1%	0.11%	0.1%	-0.18%	-0.24%	0.33%	0.18%	-0.03%	-0.06%	-0.05%
Book Value per Share	30.15	33.12	36.31	29.51	21.23	25.23	29.38	28.73	27.67	25.81
Total Shareholders' Equity	1.52B	1.68B	1.85B	1.51B	1.14B	1.51B	1.79B	1.74B	1.64B	1.55B
Common Stock	504K	506K	510K	535K	553K	1M	1M	1M	1M	1M
Retained Earnings	1.11B	1.24B	1.4B	1.12B	837.63M	978M	1.23B	1.25B	1.14B	1.02B
Treasury Stock	0	0	-24.23M	-24.23M	-24M	-24M	-24M	-86M	-86M	-86M
Accumulated OCI	-22.38M	-13.96M	-14.18M	-108.95M	-237.95M	-39M	-20M	-28M	-47M	-42M
Minority Interest	0	0	0	-2.74M	-2.49M	-1M	1M	1M	0	3M

Cash Flow

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Cash from Operations+	296.61M	280.78M	109.47M	284.53M	456.54M	614M	331M	624M	253M	470M
Operating CF Margin %	0.04%	0.03%	0.01%	0.01%	0.02%	0.02%	0.01%	0.02%	0.01%	0.01%
Operating CF Growth %	5.07%	-0.05%	-0.61%	1.6%	0.6%	0.34%	-0.46%	0.89%	-0.59%	0.86%
Net Income	125.77M	130.16M	165.67M	-350.68M	-254.01M	149M	254M	30M	-110M	-115M
Depreciation & Amortization	71.01M	86.05M	87.63M	246.82M	281.54M	285M	285M	304M	319M	321M
Stock-Based Compensation	15.31M	25.68M	25.78M	73M	25M	45M	44M	38M	39M	43M
Deferred Taxes	12.48M	-1.89M	-14.82M	-60.8M	-70.93M	-5M	55M	-36M	-49M	-56M
Other Non-Cash Items	7.62M	2.7M	4.74M	446.88M	531.67M	-13M	59M	118M	49M	11M
Working Capital Changes	64.43M	38.09M	-159.53M	-23.25M	-56.37M	153M	-366M	170M	5M	266M
Change in Receivables	29.42M	-38.76M	-67.28M	52.73M	-123.97M	24M	-108M	200M	0	-142M
Change in Inventory	2.11M	-6.93M	-108.8M	177.09M	-111.27M	14M	-264M	-57M	104M	87M
Change in Payables	14.38M	90.22M	4.39M	-40.15M	107.05M	15M	86M	53M	-81M	200M
Cash from Investing+	-350.92M	-59.96M	-47.01M	-2.26B	-1.47M	-237M	-49M	-339M	-342M	-218M
Capital Expenditures	-41.38M	-56.11M	-44.61M	-207.82M	-172.57M	-310M	-251M	-323M	-345M	0
CapEx % of Revenue	0%	0.01%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-2.82M	-1.83M	283K	33.76M	24.1M	73M	230M	16M	25M	-218M
Cash from Financing+	56.35M	-224.56M	-53.99M	2B	-453.07M	-384M	-279M	-292M	92M	-248M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-236K	-2.63M	975K	-67M	-6M	-19M	-43M	-6M	-31M	-14M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	255.23M	224.66M	64.86M	76.71M	283.97M	304M	80M	301M	-92M	470M
FCF Margin %	0.03%	0.02%	0.01%	0%	0.01%	0.01%	0%	0.01%	-0%	0.01%
FCF Growth %	4.18%	-0.12%	-0.71%	0.18%	2.7%	0.07%	-0.74%	2.76%	-1.31%	6.11%
FCF per Share	5.06	4.42	1.28	1.50	5.28	5.07	1.31	4.96	-1.55	7.81
FCF Conversion (FCF/Net Income)	2.36x	2.16x	0.66x	-0.81x	-1.80x	4.12x	1.33x	26.00x	-2.26x	-3.98x
Interest Paid	16.7M	17.11M	16.47M	183M	0	0	134M	0	0	0
Taxes Paid	67.03M	78.98M	64.04M	78M	0	0	5M	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	8.66%	8.13%	9.39%	-20.89%	-19.15%	11.22%	15%	1.36%	-6.62%	-7.39%
Return on Invested Capital (ROIC)	8.37%	8.16%	8.05%	4.28%	6.09%	6.82%	6.33%	1.78%	0.12%	-0.46%
Gross Margin	15.1%	15.41%	14.89%	13.02%	14.61%	14.62%	14.46%	13.65%	13.56%	13.28%
Net Margin	1.48%	1.4%	1.62%	-1.64%	-0.96%	0.55%	0.86%	0.08%	-0.36%	-0.37%
Debt / Equity	0.39x	0.23x	0.20x	2.01x	3.20x	2.26x	1.89x	1.87x	2.16x	2.22x
Interest Coverage	13.78x	13.21x	13.80x	1.06x	1.96x	2.15x	3.74x	0.83x	0.05x	-0.20x
FCF Conversion	2.36x	2.16x	0.66x	-0.81x	-1.80x	4.12x	1.33x	26.00x	-2.26x	-3.98x
Revenue Growth	3.49%	9.49%	10.27%	109.13%	23.97%	1.64%	7.34%	4.65%	2.34%	2.6%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Conventional	-	-	-	-	-	-	-	-	-	14.67B
Conventional Growth	-	-	-	-	-	-	-	-	-	-
Retail	-	-	-	-	2.33B	2.44B	2.47B	2.48B	2.44B	2.34B
Retail Growth	-	-	-	-	-	4.78%	1.06%	0.49%	-1.77%	-3.86%
Wholesale Operating	-	-	-	-	-	25.87B	27.82B	29.14B	29.85B	-
Wholesale Operating Growth	-	-	-	-	-	-	7.54%	4.74%	2.44%	-
Other Operating	-	-	-	-	-	-	-	-	215M	-
Other Operating Growth	-	-	-	-	-	-	-	-	-	-
Others	238.69M	232.19M	228.47M	-	227.98M	219M	219M	224M	-	-
Others Growth	-	-2.72%	-1.61%	-	-	-3.94%	0.00%	2.28%	-	-
Wholesale	-	-	-	4.39B	4.72B	-	-	-	-	-
Wholesale Growth	-	-	-	-	7.44%	-	-	-	-	-
Intersegment Eliminations	-164.23M	-168.54M	-171.62M	-	-1.54B	-	-	-	-	-
Intersegment Eliminations Growth	-	-2.62%	-1.83%	-	-	-	-	-	-	-
Operatings	8.4B	9.21B	10.17B	-	-	-	-	-	-	-
Operatings Growth	-	9.71%	10.41%	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Wholesale	-	-	-	4.39B	4.72B	5.05B	5.72B	29.14B	29.85B	-
Wholesale Growth	-	-	-	-	7.44%	6.99%	13.25%	409.56%	2.44%	-

Frequently Asked Questions

Growth & Financials

United Natural Foods, Inc. (UNFI) reported $31.78B in revenue for fiscal year 2025. This represents a 507% increase from $5.24B in 2012.

United Natural Foods, Inc. (UNFI) grew revenue by 2.6% over the past year. Growth has been modest.

United Natural Foods, Inc. (UNFI) reported a net loss of $118.0M for fiscal year 2025.

Dividend & Returns

United Natural Foods, Inc. (UNFI) has a return on equity (ROE) of -7.4%. Negative ROE indicates the company is unprofitable.

United Natural Foods, Inc. (UNFI) generated $288.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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United Natural Foods, Inc. (UNFI) 10-Year Financial Performance & Capital Metrics

UNFI • • Industrial / General

Consumer DefensiveFood DistributionRetail & Convenience DistributionHealth & Natural Foods Retailers

Revenue $31.78B +2.6%
EBITDA $290M -11.3%
Net Income -$118M -5.4%
EPS (Diluted) -1.96 -3.7%
Gross Margin 13.28% -2.0%
EBITDA Margin 0.91% -13.6%
Operating Margin -0.1% -477.9%
Net Margin -0.37% -2.7%
ROE -7.39% -11.6%
ROIC -0.46% -487.8%
Debt/Equity 2.22 +2.7%
Interest Coverage -0.20 -467.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Trading at only 1.4x book value
✓Efficient asset utilization: 4.2x turnover

✗Weaknesses

✗High debt to equity ratio of 2.2x
✗Thin 5Y average net margin of 0.2%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y14.53%

5Y3.69%

3Y3.19%

TTM2.6%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-5.36%

EPS CAGR

10Y-

5Y-

3Y-

TTM-3.71%

ROCE

10Y Avg6.22%

5Y Avg3.74%

3Y Avg0.63%

Latest-0.61%

Peer Comparison

Health & Natural Foods Retailers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UNFIUnited Natural Foods, Inc.	2.15B	35.22	-17.97	2.6%	-0.37%	-7.59%	21.9%	2.22

Profit & Loss

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Sales/Revenue+	8.47B	9.27B	10.23B	21.39B	26.51B	26.95B	28.93B	30.27B	30.98B	31.78B
Revenue Growth %	0.03%	0.09%	0.1%	1.09%	0.24%	0.02%	0.07%	0.05%	0.02%	0.03%
Cost of Goods Sold+	7.19B	7.85B	8.7B	18.6B	22.64B	23.01B	24.75B	26.14B	26.78B	27.56B
COGS % of Revenue	0.85%	0.85%	0.85%	0.87%	0.85%	0.85%	0.86%	0.86%	0.86%	0.87%
Gross Profit+	1.28B	1.43B	1.52B	2.79B	3.87B	3.94B	4.18B	4.13B	4.2B	4.22B
Gross Margin %	0.15%	0.15%	0.15%	0.13%	0.15%	0.15%	0.14%	0.14%	0.14%	0.13%
Gross Profit Growth %	0.01%	0.12%	0.07%	0.83%	0.39%	0.02%	0.06%	-0.01%	0.02%	0%
Operating Expenses+	1.05B	1.2B	1.28B	2.63B	3.54B	3.59B	3.83B	3.94B	4.19B	4.25B
OpEx % of Revenue	0.12%	0.13%	0.13%	0.12%	0.13%	0.13%	0.13%	0.13%	0.14%	0.13%
Selling, General & Admin	1.05B	1.2B	1.28B	2.94B	3.5B	3.5B	3.77B	3.91B	4.03B	0
SG&A % of Revenue	0.12%	0.13%	0.13%	0.14%	0.13%	0.13%	0.13%	0.13%	0.13%	-
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-743K	5.15M	1.54M	2.63B	3.54B	3.59B	3.83B	2M	166M	4.25B
Operating Income+	224.11M	226.03M	227.22M	190.98M	376.07M	439M	423M	120M	8M	-31M
Operating Margin %	0.03%	0.02%	0.02%	0.01%	0.01%	0.02%	0.01%	0%	0%	-0%
Operating Income Growth %	-0.07%	0.01%	0.01%	-0.16%	0.97%	0.17%	-0.04%	-0.72%	-0.93%	-4.88%
EBITDA+	295.12M	311.02M	313.73M	440.88M	665.07M	726M	708M	424M	327M	290M
EBITDA Margin %	0.03%	0.03%	0.03%	0.02%	0.03%	0.03%	0.02%	0.01%	0.01%	0.01%
EBITDA Growth %	-0.03%	0.05%	0.01%	0.41%	0.51%	0.09%	-0.02%	-0.4%	-0.23%	-0.11%
D&A (Non-Cash Add-back)	71.01M	85M	86.5M	249.9M	289M	287M	285M	304M	319M	321M
EBIT	231.86M	231.54M	229.22M	-160M	-174M	312M	447M	140M	9M	0
Net Interest Income+	-15.14M	-16.75M	-16.02M	-181M	-192M	-204M	-112M	-141M	-152M	-151M
Interest Income	1.11M	360K	446K	774K	2.2M	0	1M	2M	0	3M
Interest Expense	16.26M	17.11M	16.47M	179.96M	191.61M	204M	113M	144M	146M	154M
Other Income/Expense	-15.89M	-11.6M	-14.48M	-148.46M	-149M	-111M	-113M	-113M	-145M	-123M
Pretax Income+	208.22M	214.42M	212.75M	-435.29M	-344.45M	183M	310M	7M	-137M	-154M
Pretax Margin %	0.02%	0.02%	0.02%	-0.02%	-0.01%	0.01%	0.01%	0%	-0%	-0%
Income Tax+	82.46M	84.27M	47.08M	-84.61M	-90.44M	34M	56M	-23M	-27M	-39M
Effective Tax Rate %	0.6%	0.61%	0.78%	0.81%	0.74%	0.81%	0.8%	3.43%	0.82%	0.77%
Net Income+	125.77M	130.16M	165.67M	-350.68M	-254.01M	149M	248M	24M	-112M	-118M
Net Margin %	0.01%	0.01%	0.02%	-0.02%	-0.01%	0.01%	0.01%	0%	-0%	-0%
Net Income Growth %	-0.09%	0.03%	0.27%	-3.12%	0.28%	1.59%	0.66%	-0.9%	-5.67%	-0.05%
Net Income (Continuing)	125.77M	130.16M	165.67M	-285.52M	-251M	149M	254M	30M	-110M	-115M
Discontinued Operations	0	0	0	-3M	0	0	0	0	0	0
Minority Interest	0	0	0	-2.74M	-2.49M	-1M	1M	1M	0	3M
EPS (Diluted)+	2.50	2.56	3.26	-6.85	-4.72	2.48	4.07	0.40	-1.89	-1.96
EPS Growth %	-0.09%	0.02%	0.27%	-3.1%	0.31%	1.53%	0.64%	-0.9%	-5.72%	-0.04%
EPS (Basic)	2.50	2.57	3.28	-6.85	-4.72	2.65	4.28	0.41	-1.89	-1.96
Diluted Shares Outstanding	50.4M	50.77M	50.84M	51.2M	53.8M	60M	61M	60.7M	59.3M	60.2M
Basic Shares Outstanding	50.31M	50.57M	50.53M	51.18M	53.78M	60M	58M	59.2M	59.3M	60.2M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Total Current Assets+	1.61B	1.66B	1.79B	3.57B	3.7B	3.55B	3.8B	3.46B	3.4B	3.42B
Cash & Short-Term Investments	18.59M	15.41M	23.32M	42.35M	46.99M	41M	44M	37M	40M	44M
Cash Only	18.59M	15.41M	23.32M	42.35M	46.99M	41M	44M	37M	40M	44M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	489.71M	525.64M	579.7M	1.04B	1.1B	1.1B	1.21B	889M	953M	1.09B
Days Sales Outstanding	21.1	20.69	20.69	17.81	15.16	14.94	15.32	10.72	11.23	12.55
Inventory	1.02B	1.03B	1.14B	2.09B	2.28B	2.25B	2.35B	2.29B	2.18B	2.1B
Days Inventory Outstanding	51.86	48	47.63	41	36.77	35.64	34.74	32	29.7	27.74
Other Current Assets	81.23M	89.93M	50.12M	56.15M	71M	2M	0	245M	230M	191M
Total Non-Current Assets+	1.24B	1.22B	1.18B	3.61B	3.88B	3.98B	3.83B	3.93B	4.13B	4.17B
Property, Plant & Equipment	616.61M	602.09M	571.15M	1.64B	2.68B	2.85B	2.87B	3B	3.19B	3.22B
Fixed Asset Turnover	13.74x	15.40x	17.91x	13.05x	9.88x	9.46x	10.09x	10.11x	9.71x	9.86x
Goodwill	366.17M	371.26M	362.5M	442.26M	19.61M	20M	20M	20M	19M	19M
Intangible Assets	222.31M	208.29M	193.21M	1.04B	969.6M	891M	819M	722M	649M	576M
Long-Term Investments	-35.23M	-40.63M	-44.38M	36.35M	28M	17M	13M	12M	2M	7M
Other Non-Current Assets	35.88M	42.26M	48.71M	423.03M	73.2M	142M	105M	150M	179M	185M
Total Assets+	2.85B	2.89B	2.96B	7.18B	7.59B	7.53B	7.63B	7.39B	7.53B	7.59B
Asset Turnover	2.97x	3.21x	3.45x	2.98x	3.49x	3.58x	3.79x	4.09x	4.12x	4.18x
Asset Growth %	0.12%	0.01%	0.03%	1.42%	0.06%	-0.01%	0.01%	-0.03%	0.02%	0.01%
Total Current Liabilities+	619.72M	703.99M	699.22M	2.11B	2.37B	2.49B	2.42B	2.4B	2.37B	2.6B
Accounts Payable	445.43M	534.62M	517.13M	1.53B	1.63B	1.64B	1.74B	1.78B	1.69B	1.88B
Days Payables Outstanding	22.61	24.87	21.69	30.07	26.34	26.08	25.69	24.87	23.01	24.83
Short-Term Debt	11.85M	12.13M	12.44M	112.1M	118M	255M	27M	18M	4M	181M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	80.16M	70.53M	0	276.05M	10M	-204M	0	1M	204M	546M
Current Ratio	2.60x	2.36x	2.56x	1.69x	1.56x	1.43x	1.57x	1.44x	1.44x	1.32x
Quick Ratio	0.95x	0.90x	0.93x	0.70x	0.60x	0.52x	0.60x	0.49x	0.52x	0.51x
Cash Conversion Cycle	50.35	43.81	46.63	28.74	25.58	24.5	24.36	17.85	17.92	15.47
Total Non-Current Liabilities+	712.93M	500.65M	419.29M	3.56B	4.07B	3.52B	3.42B	3.25B	3.52B	3.44B
Long-Term Debt	588.26M	373.48M	347.71M	2.82B	2.52B	2.17B	2.11B	1.96B	2.08B	3.27B
Capital Lease Obligations	0	0	31.49M	108.21M	1.02B	997M	1.09B	1.11B	1.27B	1.41B
Deferred Tax Liabilities	95.22M	98.83M	44.38M	1.04M	507M	485M	8M	478M	0	0
Other Non-Current Liabilities	29.45M	28.35M	-4.29M	393.6M	539M	352M	212M	178M	166M	169M
Total Liabilities	1.33B	1.2B	1.12B	5.67B	6.44B	6.01B	5.84B	5.65B	5.89B	6.04B
Total Debt+	600.11M	385.6M	360.15M	3.04B	3.66B	3.43B	3.38B	3.27B	3.55B	3.45B
Net Debt	581.52M	370.19M	336.83M	3B	3.61B	3.39B	3.34B	3.23B	3.51B	3.41B
Debt / Equity	0.39x	0.23x	0.20x	2.01x	3.20x	2.26x	1.89x	1.87x	2.16x	2.22x
Debt / EBITDA	2.03x	1.24x	1.15x	6.89x	5.50x	4.72x	4.78x	7.70x	10.85x	11.90x
Net Debt / EBITDA	1.97x	1.19x	1.07x	6.80x	5.43x	4.66x	4.71x	7.61x	10.73x	11.75x
Interest Coverage	13.78x	13.21x	13.80x	1.06x	1.96x	2.15x	3.74x	0.83x	0.05x	-0.20x
Total Equity+	1.52B	1.68B	1.85B	1.51B	1.14B	1.51B	1.79B	1.74B	1.64B	1.55B
Equity Growth %	0.1%	0.11%	0.1%	-0.18%	-0.24%	0.33%	0.18%	-0.03%	-0.06%	-0.05%
Book Value per Share	30.15	33.12	36.31	29.51	21.23	25.23	29.38	28.73	27.67	25.81
Total Shareholders' Equity	1.52B	1.68B	1.85B	1.51B	1.14B	1.51B	1.79B	1.74B	1.64B	1.55B
Common Stock	504K	506K	510K	535K	553K	1M	1M	1M	1M	1M
Retained Earnings	1.11B	1.24B	1.4B	1.12B	837.63M	978M	1.23B	1.25B	1.14B	1.02B
Treasury Stock	0	0	-24.23M	-24.23M	-24M	-24M	-24M	-86M	-86M	-86M
Accumulated OCI	-22.38M	-13.96M	-14.18M	-108.95M	-237.95M	-39M	-20M	-28M	-47M	-42M
Minority Interest	0	0	0	-2.74M	-2.49M	-1M	1M	1M	0	3M

Cash Flow

	Jul 2016	Jul 2017	Jul 2018	Jul 2019	Jul 2020	Jul 2021	Jul 2022	Jul 2023	Jul 2024	Jul 2025
Cash from Operations+	296.61M	280.78M	109.47M	284.53M	456.54M	614M	331M	624M	253M	470M
Operating CF Margin %	0.04%	0.03%	0.01%	0.01%	0.02%	0.02%	0.01%	0.02%	0.01%	0.01%
Operating CF Growth %	5.07%	-0.05%	-0.61%	1.6%	0.6%	0.34%	-0.46%	0.89%	-0.59%	0.86%
Net Income	125.77M	130.16M	165.67M	-350.68M	-254.01M	149M	254M	30M	-110M	-115M
Depreciation & Amortization	71.01M	86.05M	87.63M	246.82M	281.54M	285M	285M	304M	319M	321M
Stock-Based Compensation	15.31M	25.68M	25.78M	73M	25M	45M	44M	38M	39M	43M
Deferred Taxes	12.48M	-1.89M	-14.82M	-60.8M	-70.93M	-5M	55M	-36M	-49M	-56M
Other Non-Cash Items	7.62M	2.7M	4.74M	446.88M	531.67M	-13M	59M	118M	49M	11M
Working Capital Changes	64.43M	38.09M	-159.53M	-23.25M	-56.37M	153M	-366M	170M	5M	266M
Change in Receivables	29.42M	-38.76M	-67.28M	52.73M	-123.97M	24M	-108M	200M	0	-142M
Change in Inventory	2.11M	-6.93M	-108.8M	177.09M	-111.27M	14M	-264M	-57M	104M	87M
Change in Payables	14.38M	90.22M	4.39M	-40.15M	107.05M	15M	86M	53M	-81M	200M
Cash from Investing+	-350.92M	-59.96M	-47.01M	-2.26B	-1.47M	-237M	-49M	-339M	-342M	-218M
Capital Expenditures	-41.38M	-56.11M	-44.61M	-207.82M	-172.57M	-310M	-251M	-323M	-345M	0
CapEx % of Revenue	0%	0.01%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-2.82M	-1.83M	283K	33.76M	24.1M	73M	230M	16M	25M	-218M
Cash from Financing+	56.35M	-224.56M	-53.99M	2B	-453.07M	-384M	-279M	-292M	92M	-248M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-236K	-2.63M	975K	-67M	-6M	-19M	-43M	-6M	-31M	-14M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	255.23M	224.66M	64.86M	76.71M	283.97M	304M	80M	301M	-92M	470M
FCF Margin %	0.03%	0.02%	0.01%	0%	0.01%	0.01%	0%	0.01%	-0%	0.01%
FCF Growth %	4.18%	-0.12%	-0.71%	0.18%	2.7%	0.07%	-0.74%	2.76%	-1.31%	6.11%
FCF per Share	5.06	4.42	1.28	1.50	5.28	5.07	1.31	4.96	-1.55	7.81
FCF Conversion (FCF/Net Income)	2.36x	2.16x	0.66x	-0.81x	-1.80x	4.12x	1.33x	26.00x	-2.26x	-3.98x
Interest Paid	16.7M	17.11M	16.47M	183M	0	0	134M	0	0	0
Taxes Paid	67.03M	78.98M	64.04M	78M	0	0	5M	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	8.66%	8.13%	9.39%	-20.89%	-19.15%	11.22%	15%	1.36%	-6.62%	-7.39%
Return on Invested Capital (ROIC)	8.37%	8.16%	8.05%	4.28%	6.09%	6.82%	6.33%	1.78%	0.12%	-0.46%
Gross Margin	15.1%	15.41%	14.89%	13.02%	14.61%	14.62%	14.46%	13.65%	13.56%	13.28%
Net Margin	1.48%	1.4%	1.62%	-1.64%	-0.96%	0.55%	0.86%	0.08%	-0.36%	-0.37%
Debt / Equity	0.39x	0.23x	0.20x	2.01x	3.20x	2.26x	1.89x	1.87x	2.16x	2.22x
Interest Coverage	13.78x	13.21x	13.80x	1.06x	1.96x	2.15x	3.74x	0.83x	0.05x	-0.20x
FCF Conversion	2.36x	2.16x	0.66x	-0.81x	-1.80x	4.12x	1.33x	26.00x	-2.26x	-3.98x
Revenue Growth	3.49%	9.49%	10.27%	109.13%	23.97%	1.64%	7.34%	4.65%	2.34%	2.6%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Conventional	-	-	-	-	-	-	-	-	-	14.67B
Conventional Growth	-	-	-	-	-	-	-	-	-	-
Retail	-	-	-	-	2.33B	2.44B	2.47B	2.48B	2.44B	2.34B
Retail Growth	-	-	-	-	-	4.78%	1.06%	0.49%	-1.77%	-3.86%
Wholesale Operating	-	-	-	-	-	25.87B	27.82B	29.14B	29.85B	-
Wholesale Operating Growth	-	-	-	-	-	-	7.54%	4.74%	2.44%	-
Other Operating	-	-	-	-	-	-	-	-	215M	-
Other Operating Growth	-	-	-	-	-	-	-	-	-	-
Others	238.69M	232.19M	228.47M	-	227.98M	219M	219M	224M	-	-
Others Growth	-	-2.72%	-1.61%	-	-	-3.94%	0.00%	2.28%	-	-
Wholesale	-	-	-	4.39B	4.72B	-	-	-	-	-
Wholesale Growth	-	-	-	-	7.44%	-	-	-	-	-
Intersegment Eliminations	-164.23M	-168.54M	-171.62M	-	-1.54B	-	-	-	-	-
Intersegment Eliminations Growth	-	-2.62%	-1.83%	-	-	-	-	-	-	-
Operatings	8.4B	9.21B	10.17B	-	-	-	-	-	-	-
Operatings Growth	-	9.71%	10.41%	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Wholesale	-	-	-	4.39B	4.72B	5.05B	5.72B	29.14B	29.85B	-
Wholesale Growth	-	-	-	-	7.44%	6.99%	13.25%	409.56%	2.44%	-

Frequently Asked Questions

Growth & Financials

United Natural Foods, Inc. (UNFI) reported $31.78B in revenue for fiscal year 2025. This represents a 507% increase from $5.24B in 2012.

United Natural Foods, Inc. (UNFI) grew revenue by 2.6% over the past year. Growth has been modest.

United Natural Foods, Inc. (UNFI) reported a net loss of $118.0M for fiscal year 2025.

Dividend & Returns

United Natural Foods, Inc. (UNFI) has a return on equity (ROE) of -7.4%. Negative ROE indicates the company is unprofitable.

United Natural Foods, Inc. (UNFI) generated $288.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.