US Foods Holding Corp. (USFD) 10-Year Financial Performance & Capital Metrics

USFD • • Industrial / General

Consumer DefensiveFood DistributionBroadline Food DistributionNational Broadline Distributors

AboutUS Foods Holding Corp., through its subsidiary, US Foods, Inc., markets and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States. The company's customers include independently owned single and multi-unit restaurants, regional concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations. As of July 06, 2022, it operated 70 broadline facilities; and 80 cash and carry locations. The company was formerly known as USF Holding Corp. and changed its name to US Foods Holding Corp. in February 2016. US Foods Holding Corp. was incorporated in 2007 and is headquartered in Rosemont, Illinois.Show more

Revenue $37.88B +6.4%
EBITDA $1.54B +8.9%
Net Income $494M -2.4%
EPS (Diluted) 2.02
Gross Margin 17.25% -0.1%
EBITDA Margin 4.06% +2.3%
Operating Margin 2.9% +1.6%
Net Margin 1.3% -8.3%
ROE 10.65% -2.7%
ROIC 8.42% +6.4%
Debt/Equity 1.20 +9.6%
Interest Coverage 3.49 +11.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 2.4% through buybacks
✓Trading near 52-week high
✓Efficient asset utilization: 2.8x turnover

✗Weaknesses

✗Thin 5Y average net margin of 0.6%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.11%

5Y7.87%

3Y8.7%

TTM4.8%

Profit (Net Income) CAGR

10Y-

5Y5.11%

3Y44.42%

TTM-2.96%

EPS CAGR

10Y-

5Y2.91%

3Y55.23%

TTM3%

ROCE

10Y Avg6.52%

5Y Avg6.07%

3Y Avg8.99%

Latest10.87%

Peer Comparison

National Broadline Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PFGCPerformance Food Group Company	15.19B	96.84	44.42	8.61%	0.5%	7.12%	4.64%	1.79
USFDUS Foods Holding Corp.	18.99B	85.18	42.17	6.4%	1.43%	12.48%	4.39%	1.20
SYYSysco Corporation	37.92B	79.18	21.23	3.2%	2.21%	85.93%	4.7%	7.81

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	23.13B	22.92B	24.15B	24.18B	25.94B	22.89B	29.49B	34.06B	35.6B	37.88B
Revenue Growth %	0%	-0.01%	0.05%	0%	0.07%	-0.12%	0.29%	0.15%	0.05%	0.06%
Cost of Goods Sold+	19.11B	18.87B	19.93B	19.87B	21.35B	19.17B	24.83B	28.57B	29.45B	31.34B
COGS % of Revenue	0.83%	0.82%	0.83%	0.82%	0.82%	0.84%	0.84%	0.84%	0.83%	0.83%
Gross Profit+	4.01B	4.05B	4.22B	4.31B	4.59B	3.72B	4.66B	5.49B	6.15B	6.53B
Gross Margin %	0.17%	0.18%	0.17%	0.18%	0.18%	0.16%	0.16%	0.16%	0.17%	0.17%
Gross Profit Growth %	0.06%	0.01%	0.04%	0.02%	0.07%	-0.19%	0.25%	0.18%	0.12%	0.06%
Operating Expenses+	3.82B	3.63B	3.63B	3.65B	3.89B	3.8B	4.23B	4.9B	5.13B	5.43B
OpEx % of Revenue	0.17%	0.16%	0.15%	0.15%	0.15%	0.17%	0.14%	0.14%	0.14%	0.14%
Selling, General & Admin	3.65B	3.58B	3.63B	3.65B	3.89B	3.76B	4.22B	4.89B	5.12B	5.41B
SG&A % of Revenue	0.16%	0.16%	0.15%	0.15%	0.15%	0.16%	0.14%	0.14%	0.14%	0.14%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	172.71M	53M	-1M	1M	0	39M	11M	12M	14M	23M
Operating Income+	189.83M	419M	588M	658M	699M	-77M	424M	594M	1.02B	1.1B
Operating Margin %	0.01%	0.02%	0.02%	0.03%	0.03%	-0%	0.01%	0.02%	0.03%	0.03%
Operating Income Growth %	-0.25%	1.21%	0.4%	0.12%	0.06%	-1.11%	6.51%	0.4%	0.71%	0.08%
EBITDA+	589.08M	840.37M	966M	998M	1.06B	345M	802M	966M	1.41B	1.54B
EBITDA Margin %	0.03%	0.04%	0.04%	0.04%	0.04%	0.02%	0.03%	0.03%	0.04%	0.04%
EBITDA Growth %	-0.11%	0.43%	0.15%	0.03%	0.06%	-0.67%	1.32%	0.2%	0.46%	0.09%
D&A (Non-Cash Add-back)	399.25M	421.37M	378M	340M	362M	422M	378M	372M	395M	438M
EBIT	477.33M	360M	574M	671M	695M	-56M	427M	616M	1B	959M
Net Interest Income+	-285.18M	-229M	-170M	-175M	-184M	-238M	-213M	-255M	-324M	-315M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	285.18M	229M	170M	175M	184M	238M	213M	255M	324M	315M
Other Income/Expense	2.33M	-288M	-184M	-162M	-188M	-217M	-210M	-233M	-339M	-455M
Pretax Income+	192.15M	131M	404M	496M	511M	-294M	214M	361M	678M	644M
Pretax Margin %	0.01%	0.01%	0.02%	0.02%	0.02%	-0.01%	0.01%	0.01%	0.02%	0.02%
Income Tax+	24.64M	-79M	-40M	89M	126M	-68M	50M	96M	172M	150M
Effective Tax Rate %	0.87%	1.6%	1.1%	0.82%	0.75%	0.77%	0.77%	0.73%	0.75%	0.77%
Net Income+	167.52M	210M	444M	407M	385M	-226M	164M	265M	506M	494M
Net Margin %	0.01%	0.01%	0.02%	0.02%	0.01%	-0.01%	0.01%	0.01%	0.01%	0.01%
Net Income Growth %	3.3%	0.25%	1.11%	-0.08%	-0.05%	-1.59%	1.73%	0.62%	0.91%	-0.02%
Net Income (Continuing)	167.52M	210M	444M	407M	385M	-226M	164M	265M	506M	494M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.87	1.03	1.97	1.87	1.75	-1.15	0.54	1.01	2.02	2.02
EPS Growth %	3.29%	0.18%	0.91%	-0.05%	-0.06%	-1.66%	1.47%	0.87%	1%	0%
EPS (Basic)	0.88	1.05	2.00	1.88	1.77	-1.15	0.55	1.02	2.09	2.05
Diluted Shares Outstanding	192.75M	204.02M	225.66M	217.83M	220M	220M	225M	226M	250M	244M
Basic Shares Outstanding	191.25M	200.13M	222.38M	216.11M	218M	220M	222M	224M	239M	241M
Dividend Payout Ratio	-	3.17%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.06B	2.79B	2.82B	2.98B	3.26B	3.46B	3.59B	3.82B	4.03B	3.97B
Cash & Short-Term Investments	517.8M	131M	119M	104M	90M	828M	148M	211M	269M	59M
Cash Only	517.8M	131M	119M	104M	90M	828M	148M	211M	269M	59M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.34B	1.33B	1.4B	1.45B	1.6B	1.21B	1.61B	1.85B	2.01B	2.12B
Days Sales Outstanding	21.08	21.21	21.15	21.94	22.49	19.22	19.98	19.81	20.61	20.47
Inventory	1.11B	1.22B	1.21B	1.28B	1.43B	1.27B	1.69B	1.62B	1.6B	1.63B
Days Inventory Outstanding	21.25	23.66	22.12	23.5	24.48	24.24	24.78	20.65	19.83	18.94
Other Current Assets	20.45M	30.82M	13M	37M	33M	27M	26M	21M	14M	19M
Total Non-Current Assets+	6.18B	6.16B	6.22B	6.21B	8.03B	8.96B	8.93B	8.95B	9.16B	9.46B
Property, Plant & Equipment	1.77B	1.77B	1.8B	1.84B	2.08B	2.02B	2.03B	2.17B	2.28B	2.4B
Fixed Asset Turnover	13.07x	12.96x	13.41x	13.12x	12.50x	11.32x	14.50x	15.69x	15.61x	15.80x
Goodwill	3.88B	3.91B	3.97B	3.97B	4.73B	5.64B	5.63B	5.63B	5.7B	5.77B
Intangible Assets	477.6M	387M	364M	324M	967M	892M	830M	785M	803M	836M
Long-Term Investments	0	0	0	0	0	27M	26M	31M	39M	50M
Other Non-Current Assets	56.72M	57.9M	65M	67M	256M	380M	405M	341M	337M	412M
Total Assets+	9.24B	8.94B	9.04B	9.19B	11.29B	12.42B	12.52B	12.77B	13.19B	13.44B
Asset Turnover	2.50x	2.56x	2.67x	2.63x	2.30x	1.84x	2.36x	2.67x	2.70x	2.82x
Asset Growth %	0.02%	-0.03%	0.01%	0.02%	0.23%	0.1%	0.01%	0.02%	0.03%	0.02%
Total Current Liabilities+	1.8B	1.97B	2B	2.08B	2.36B	1.98B	2.55B	2.8B	3.11B	3.3B
Accounts Payable	1.08B	1.29B	1.29B	1.36B	1.46B	1.22B	1.66B	1.85B	2.05B	2.23B
Days Payables Outstanding	20.6	25.05	23.61	24.97	24.96	23.2	24.43	23.7	25.42	25.98
Short-Term Debt	253.95M	218.67M	263M	263M	364M	267M	278M	291M	330M	325M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	132.9M	118.95M	103M	108M	95M	133M	139M	109M	143M	142M
Current Ratio	1.70x	1.42x	1.41x	1.43x	1.38x	1.75x	1.41x	1.37x	1.30x	1.21x
Quick Ratio	1.08x	0.79x	0.80x	0.82x	0.77x	1.11x	0.75x	0.79x	0.78x	0.71x
Cash Conversion Cycle	21.73	19.82	19.66	20.47	22.01	20.27	20.33	16.75	15.02	13.42
Total Non-Current Liabilities+	5.56B	4.44B	4.28B	3.88B	5.22B	6.39B	5.7B	5.48B	5.33B	5.61B
Long-Term Debt	4.68B	3.71B	3.65B	3B	4.59B	5.62B	4.92B	4.74B	4.56B	4.82B
Capital Lease Obligations	0	0	0	373M	131M	263M	244M	246M	265M	248M
Deferred Tax Liabilities	455.79M	381M	263M	298M	308M	270M	307M	298M	293M	335M
Other Non-Current Liabilities	425.42M	350.93M	372M	211M	184M	242M	235M	200M	204M	210M
Total Liabilities	7.37B	6.41B	6.29B	5.96B	7.58B	8.37B	8.25B	8.28B	8.44B	8.91B
Total Debt+	4.94B	3.92B	3.91B	3.64B	5.13B	6.19B	5.47B	5.31B	5.2B	5.43B
Net Debt	4.42B	3.79B	3.79B	3.54B	5.04B	5.36B	5.33B	5.1B	4.93B	5.38B
Debt / Equity	2.64x	1.55x	1.42x	1.13x	1.38x	1.53x	1.28x	1.18x	1.10x	1.20x
Debt / EBITDA	8.38x	4.67x	4.05x	3.65x	4.83x	17.94x	6.83x	5.50x	3.68x	3.54x
Net Debt / EBITDA	7.50x	4.51x	3.93x	3.54x	4.75x	15.54x	6.64x	5.28x	3.49x	3.50x
Interest Coverage	0.67x	1.83x	3.46x	3.76x	3.80x	-0.32x	1.99x	2.33x	3.14x	3.49x
Total Equity+	1.87B	2.54B	2.75B	3.23B	3.71B	4.05B	4.27B	4.5B	4.75B	4.53B
Equity Growth %	0.15%	0.35%	0.08%	0.17%	0.15%	0.09%	0.05%	0.05%	0.06%	-0.05%
Book Value per Share	9.72	12.44	12.19	14.82	16.86	18.40	18.97	19.89	19.00	18.56
Total Shareholders' Equity	1.87B	2.54B	2.75B	3.23B	3.71B	4.05B	4.27B	4.5B	4.75B	4.53B
Common Stock	1.67M	2M	2M	2M	2M	2M	2M	2M	3M	3M
Retained Earnings	-346.25M	-136M	124M	531M	916M	661M	782M	1.01B	1.51B	2B
Treasury Stock	0	0	0	0	0	0	0	-14M	-311M	-1.27B
Accumulated OCI	-74.38M	-119M	-96M	-84M	-54M	-34M	-19M	-73M	-115M	43M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	555.77M	556M	748M	609M	760M	413M	419M	765M	1.14B	1.17B
Operating CF Margin %	0.02%	0.02%	0.03%	0.03%	0.03%	0.02%	0.01%	0.02%	0.03%	0.03%
Operating CF Growth %	0.38%	0%	0.35%	-0.19%	0.25%	-0.46%	0.01%	0.83%	0.49%	0.03%
Net Income	167.52M	210M	444M	407M	385M	-226M	164M	265M	506M	494M
Depreciation & Amortization	399.25M	421M	378M	340M	362M	422M	378M	372M	395M	438M
Stock-Based Compensation	15.83M	18M	21M	28M	32M	40M	48M	45M	56M	63M
Deferred Taxes	17.61M	-80M	-123M	45M	7M	-51M	38M	17M	9M	-10M
Other Non-Cash Items	29.48M	65M	21M	24M	28M	74M	21M	23M	57M	171M
Working Capital Changes	-73.91M	-78M	7M	-235M	-54M	154M	-230M	43M	117M	18M
Change in Receivables	9.6M	22M	-67M	-71M	-19M	334M	-386M	-240M	-157M	-140M
Change in Inventory	-55.05M	-101M	40M	-72M	16M	201M	-413M	70M	61M	-16M
Change in Payables	-71.45M	131M	17M	79M	-56M	-339M	471M	193M	200M	170M
Cash from Investing+	-271.21M	-762M	-356M	-232M	-1.99B	-1.11B	-262M	-255M	-495M	-552M
Capital Expenditures	-187.41M	-164M	-221M	-235M	-258M	-189M	-274M	-265M	-309M	-341M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	7.82M	17M	25M	3M	103M	51M	12M	10M	10M	3M
Cash from Financing+	-110.42M	-180M	-405M	-391M	1.22B	1.43B	-837M	-447M	-587M	-831M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-666M	0	0	0	0	-28M	-37M	-7M	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.57M	-23M	-1M	26M	-11M	-17M	-9M	17M	24M	9M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	368.36M	385M	528M	374M	502M	224M	145M	500M	831M	833M
FCF Margin %	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0%	0.01%	0.02%	0.02%
FCF Growth %	0.44%	0.05%	0.37%	-0.29%	0.34%	-0.55%	-0.35%	2.45%	0.66%	0%
FCF per Share	1.91	1.89	2.34	1.72	2.28	1.02	0.64	2.21	3.32	3.41
FCF Conversion (FCF/Net Income)	3.32x	2.65x	1.68x	1.50x	1.97x	-1.83x	2.55x	2.89x	2.25x	2.38x
Interest Paid	345.73M	223M	158M	160M	173M	216M	185M	243M	294M	284M
Taxes Paid	7.86M	5M	11M	78M	137M	0	1M	68M	161M	181M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.59%	9.52%	16.79%	13.61%	11.1%	-5.83%	3.94%	6.05%	10.95%	10.65%
Return on Invested Capital (ROIC)	2.28%	4.98%	6.85%	7.42%	6.76%	-0.64%	3.35%	4.64%	7.91%	8.42%
Gross Margin	17.35%	17.68%	17.46%	17.81%	17.68%	16.25%	15.79%	16.13%	17.27%	17.25%
Net Margin	0.72%	0.92%	1.84%	1.68%	1.48%	-0.99%	0.56%	0.78%	1.42%	1.3%
Debt / Equity	2.64x	1.55x	1.42x	1.13x	1.38x	1.53x	1.28x	1.18x	1.10x	1.20x
Interest Coverage	0.67x	1.83x	3.46x	3.76x	3.80x	-0.32x	1.99x	2.33x	3.14x	3.49x
FCF Conversion	3.32x	2.65x	1.68x	1.50x	1.97x	-1.83x	2.55x	2.89x	2.25x	2.38x
Revenue Growth	0.47%	-0.9%	5.36%	0.12%	7.3%	-11.77%	28.85%	15.5%	4.52%	6.4%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product One	8.12B	8.69B	8.63B	9.31B	8.13B	11.24B	12.38B	11.95B	12.93B
Product One Growth	-	7.04%	-0.66%	7.85%	-12.69%	38.30%	10.05%	-3.41%	8.17%
Product Two	4.13B	4.27B	4.24B	4.43B	3.93B	4.98B	5.76B	6.41B	6.62B
Product Two Growth	-	3.37%	-0.64%	4.44%	-11.20%	26.66%	15.65%	11.27%	3.39%
Product Three	3.65B	3.8B	3.9B	4.25B	3.58B	4.45B	5.25B	6.05B	6.42B
Product Three Growth	-	3.99%	2.61%	9.11%	-15.75%	24.28%	17.97%	15.23%	6.11%
Product Four	2.38B	2.53B	2.52B	2.69B	2.39B	2.8B	3.56B	3.73B	4.04B
Product Four Growth	-	6.43%	-0.52%	6.55%	-10.84%	17.00%	27.24%	4.57%	8.29%
Product Five	2.17B	2.24B	2.3B	2.48B	2.46B	3.09B	3.54B	3.57B	3.57B
Product Five Growth	-	3.58%	2.44%	8.05%	-1.13%	25.87%	14.43%	0.99%	-0.11%
Product Six	1.27B	1.31B	1.31B	1.4B	1.19B	1.47B	1.73B	1.97B	2.16B
Product Six Growth	-	3.05%	0.66%	6.69%	-15.47%	23.52%	18.16%	13.86%	9.64%
Product Seven	1.2B	1.31B	1.27B	1.38B	1.21B	1.45B	1.84B	1.92B	2.14B
Product Seven Growth	-	8.53%	-2.85%	8.27%	-12.36%	20.66%	26.55%	4.08%	11.54%

Frequently Asked Questions

Valuation & Price

US Foods Holding Corp. (USFD) has a price-to-earnings (P/E) ratio of 42.2x. This suggests investors expect higher future growth.

Growth & Financials

US Foods Holding Corp. (USFD) reported $39.12B in revenue for fiscal year 2024. This represents a 75% increase from $22.30B in 2013.

US Foods Holding Corp. (USFD) grew revenue by 6.4% over the past year. This is steady growth.

Yes, US Foods Holding Corp. (USFD) is profitable, generating $558.0M in net income for fiscal year 2024 (1.3% net margin).

Dividend & Returns

US Foods Holding Corp. (USFD) has a return on equity (ROE) of 10.7%. This is reasonable for most industries.

US Foods Holding Corp. (USFD) generated $978.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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US Foods Holding Corp. (USFD) 10-Year Financial Performance & Capital Metrics

USFD • • Industrial / General

Consumer DefensiveFood DistributionBroadline Food DistributionNational Broadline Distributors

Revenue $37.88B +6.4%
EBITDA $1.54B +8.9%
Net Income $494M -2.4%
EPS (Diluted) 2.02
Gross Margin 17.25% -0.1%
EBITDA Margin 4.06% +2.3%
Operating Margin 2.9% +1.6%
Net Margin 1.3% -8.3%
ROE 10.65% -2.7%
ROIC 8.42% +6.4%
Debt/Equity 1.20 +9.6%
Interest Coverage 3.49 +11.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 2.4% through buybacks
✓Trading near 52-week high
✓Efficient asset utilization: 2.8x turnover

✗Weaknesses

✗Thin 5Y average net margin of 0.6%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.11%

5Y7.87%

3Y8.7%

TTM4.8%

Profit (Net Income) CAGR

10Y-

5Y5.11%

3Y44.42%

TTM-2.96%

EPS CAGR

10Y-

5Y2.91%

3Y55.23%

TTM3%

ROCE

10Y Avg6.52%

5Y Avg6.07%

3Y Avg8.99%

Latest10.87%

Peer Comparison

National Broadline Distributors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PFGCPerformance Food Group Company	15.19B	96.84	44.42	8.61%	0.5%	7.12%	4.64%	1.79
USFDUS Foods Holding Corp.	18.99B	85.18	42.17	6.4%	1.43%	12.48%	4.39%	1.20
SYYSysco Corporation	37.92B	79.18	21.23	3.2%	2.21%	85.93%	4.7%	7.81

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	23.13B	22.92B	24.15B	24.18B	25.94B	22.89B	29.49B	34.06B	35.6B	37.88B
Revenue Growth %	0%	-0.01%	0.05%	0%	0.07%	-0.12%	0.29%	0.15%	0.05%	0.06%
Cost of Goods Sold+	19.11B	18.87B	19.93B	19.87B	21.35B	19.17B	24.83B	28.57B	29.45B	31.34B
COGS % of Revenue	0.83%	0.82%	0.83%	0.82%	0.82%	0.84%	0.84%	0.84%	0.83%	0.83%
Gross Profit+	4.01B	4.05B	4.22B	4.31B	4.59B	3.72B	4.66B	5.49B	6.15B	6.53B
Gross Margin %	0.17%	0.18%	0.17%	0.18%	0.18%	0.16%	0.16%	0.16%	0.17%	0.17%
Gross Profit Growth %	0.06%	0.01%	0.04%	0.02%	0.07%	-0.19%	0.25%	0.18%	0.12%	0.06%
Operating Expenses+	3.82B	3.63B	3.63B	3.65B	3.89B	3.8B	4.23B	4.9B	5.13B	5.43B
OpEx % of Revenue	0.17%	0.16%	0.15%	0.15%	0.15%	0.17%	0.14%	0.14%	0.14%	0.14%
Selling, General & Admin	3.65B	3.58B	3.63B	3.65B	3.89B	3.76B	4.22B	4.89B	5.12B	5.41B
SG&A % of Revenue	0.16%	0.16%	0.15%	0.15%	0.15%	0.16%	0.14%	0.14%	0.14%	0.14%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	172.71M	53M	-1M	1M	0	39M	11M	12M	14M	23M
Operating Income+	189.83M	419M	588M	658M	699M	-77M	424M	594M	1.02B	1.1B
Operating Margin %	0.01%	0.02%	0.02%	0.03%	0.03%	-0%	0.01%	0.02%	0.03%	0.03%
Operating Income Growth %	-0.25%	1.21%	0.4%	0.12%	0.06%	-1.11%	6.51%	0.4%	0.71%	0.08%
EBITDA+	589.08M	840.37M	966M	998M	1.06B	345M	802M	966M	1.41B	1.54B
EBITDA Margin %	0.03%	0.04%	0.04%	0.04%	0.04%	0.02%	0.03%	0.03%	0.04%	0.04%
EBITDA Growth %	-0.11%	0.43%	0.15%	0.03%	0.06%	-0.67%	1.32%	0.2%	0.46%	0.09%
D&A (Non-Cash Add-back)	399.25M	421.37M	378M	340M	362M	422M	378M	372M	395M	438M
EBIT	477.33M	360M	574M	671M	695M	-56M	427M	616M	1B	959M
Net Interest Income+	-285.18M	-229M	-170M	-175M	-184M	-238M	-213M	-255M	-324M	-315M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	285.18M	229M	170M	175M	184M	238M	213M	255M	324M	315M
Other Income/Expense	2.33M	-288M	-184M	-162M	-188M	-217M	-210M	-233M	-339M	-455M
Pretax Income+	192.15M	131M	404M	496M	511M	-294M	214M	361M	678M	644M
Pretax Margin %	0.01%	0.01%	0.02%	0.02%	0.02%	-0.01%	0.01%	0.01%	0.02%	0.02%
Income Tax+	24.64M	-79M	-40M	89M	126M	-68M	50M	96M	172M	150M
Effective Tax Rate %	0.87%	1.6%	1.1%	0.82%	0.75%	0.77%	0.77%	0.73%	0.75%	0.77%
Net Income+	167.52M	210M	444M	407M	385M	-226M	164M	265M	506M	494M
Net Margin %	0.01%	0.01%	0.02%	0.02%	0.01%	-0.01%	0.01%	0.01%	0.01%	0.01%
Net Income Growth %	3.3%	0.25%	1.11%	-0.08%	-0.05%	-1.59%	1.73%	0.62%	0.91%	-0.02%
Net Income (Continuing)	167.52M	210M	444M	407M	385M	-226M	164M	265M	506M	494M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.87	1.03	1.97	1.87	1.75	-1.15	0.54	1.01	2.02	2.02
EPS Growth %	3.29%	0.18%	0.91%	-0.05%	-0.06%	-1.66%	1.47%	0.87%	1%	0%
EPS (Basic)	0.88	1.05	2.00	1.88	1.77	-1.15	0.55	1.02	2.09	2.05
Diluted Shares Outstanding	192.75M	204.02M	225.66M	217.83M	220M	220M	225M	226M	250M	244M
Basic Shares Outstanding	191.25M	200.13M	222.38M	216.11M	218M	220M	222M	224M	239M	241M
Dividend Payout Ratio	-	3.17%	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	3.06B	2.79B	2.82B	2.98B	3.26B	3.46B	3.59B	3.82B	4.03B	3.97B
Cash & Short-Term Investments	517.8M	131M	119M	104M	90M	828M	148M	211M	269M	59M
Cash Only	517.8M	131M	119M	104M	90M	828M	148M	211M	269M	59M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	1.34B	1.33B	1.4B	1.45B	1.6B	1.21B	1.61B	1.85B	2.01B	2.12B
Days Sales Outstanding	21.08	21.21	21.15	21.94	22.49	19.22	19.98	19.81	20.61	20.47
Inventory	1.11B	1.22B	1.21B	1.28B	1.43B	1.27B	1.69B	1.62B	1.6B	1.63B
Days Inventory Outstanding	21.25	23.66	22.12	23.5	24.48	24.24	24.78	20.65	19.83	18.94
Other Current Assets	20.45M	30.82M	13M	37M	33M	27M	26M	21M	14M	19M
Total Non-Current Assets+	6.18B	6.16B	6.22B	6.21B	8.03B	8.96B	8.93B	8.95B	9.16B	9.46B
Property, Plant & Equipment	1.77B	1.77B	1.8B	1.84B	2.08B	2.02B	2.03B	2.17B	2.28B	2.4B
Fixed Asset Turnover	13.07x	12.96x	13.41x	13.12x	12.50x	11.32x	14.50x	15.69x	15.61x	15.80x
Goodwill	3.88B	3.91B	3.97B	3.97B	4.73B	5.64B	5.63B	5.63B	5.7B	5.77B
Intangible Assets	477.6M	387M	364M	324M	967M	892M	830M	785M	803M	836M
Long-Term Investments	0	0	0	0	0	27M	26M	31M	39M	50M
Other Non-Current Assets	56.72M	57.9M	65M	67M	256M	380M	405M	341M	337M	412M
Total Assets+	9.24B	8.94B	9.04B	9.19B	11.29B	12.42B	12.52B	12.77B	13.19B	13.44B
Asset Turnover	2.50x	2.56x	2.67x	2.63x	2.30x	1.84x	2.36x	2.67x	2.70x	2.82x
Asset Growth %	0.02%	-0.03%	0.01%	0.02%	0.23%	0.1%	0.01%	0.02%	0.03%	0.02%
Total Current Liabilities+	1.8B	1.97B	2B	2.08B	2.36B	1.98B	2.55B	2.8B	3.11B	3.3B
Accounts Payable	1.08B	1.29B	1.29B	1.36B	1.46B	1.22B	1.66B	1.85B	2.05B	2.23B
Days Payables Outstanding	20.6	25.05	23.61	24.97	24.96	23.2	24.43	23.7	25.42	25.98
Short-Term Debt	253.95M	218.67M	263M	263M	364M	267M	278M	291M	330M	325M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	132.9M	118.95M	103M	108M	95M	133M	139M	109M	143M	142M
Current Ratio	1.70x	1.42x	1.41x	1.43x	1.38x	1.75x	1.41x	1.37x	1.30x	1.21x
Quick Ratio	1.08x	0.79x	0.80x	0.82x	0.77x	1.11x	0.75x	0.79x	0.78x	0.71x
Cash Conversion Cycle	21.73	19.82	19.66	20.47	22.01	20.27	20.33	16.75	15.02	13.42
Total Non-Current Liabilities+	5.56B	4.44B	4.28B	3.88B	5.22B	6.39B	5.7B	5.48B	5.33B	5.61B
Long-Term Debt	4.68B	3.71B	3.65B	3B	4.59B	5.62B	4.92B	4.74B	4.56B	4.82B
Capital Lease Obligations	0	0	0	373M	131M	263M	244M	246M	265M	248M
Deferred Tax Liabilities	455.79M	381M	263M	298M	308M	270M	307M	298M	293M	335M
Other Non-Current Liabilities	425.42M	350.93M	372M	211M	184M	242M	235M	200M	204M	210M
Total Liabilities	7.37B	6.41B	6.29B	5.96B	7.58B	8.37B	8.25B	8.28B	8.44B	8.91B
Total Debt+	4.94B	3.92B	3.91B	3.64B	5.13B	6.19B	5.47B	5.31B	5.2B	5.43B
Net Debt	4.42B	3.79B	3.79B	3.54B	5.04B	5.36B	5.33B	5.1B	4.93B	5.38B
Debt / Equity	2.64x	1.55x	1.42x	1.13x	1.38x	1.53x	1.28x	1.18x	1.10x	1.20x
Debt / EBITDA	8.38x	4.67x	4.05x	3.65x	4.83x	17.94x	6.83x	5.50x	3.68x	3.54x
Net Debt / EBITDA	7.50x	4.51x	3.93x	3.54x	4.75x	15.54x	6.64x	5.28x	3.49x	3.50x
Interest Coverage	0.67x	1.83x	3.46x	3.76x	3.80x	-0.32x	1.99x	2.33x	3.14x	3.49x
Total Equity+	1.87B	2.54B	2.75B	3.23B	3.71B	4.05B	4.27B	4.5B	4.75B	4.53B
Equity Growth %	0.15%	0.35%	0.08%	0.17%	0.15%	0.09%	0.05%	0.05%	0.06%	-0.05%
Book Value per Share	9.72	12.44	12.19	14.82	16.86	18.40	18.97	19.89	19.00	18.56
Total Shareholders' Equity	1.87B	2.54B	2.75B	3.23B	3.71B	4.05B	4.27B	4.5B	4.75B	4.53B
Common Stock	1.67M	2M	2M	2M	2M	2M	2M	2M	3M	3M
Retained Earnings	-346.25M	-136M	124M	531M	916M	661M	782M	1.01B	1.51B	2B
Treasury Stock	0	0	0	0	0	0	0	-14M	-311M	-1.27B
Accumulated OCI	-74.38M	-119M	-96M	-84M	-54M	-34M	-19M	-73M	-115M	43M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	555.77M	556M	748M	609M	760M	413M	419M	765M	1.14B	1.17B
Operating CF Margin %	0.02%	0.02%	0.03%	0.03%	0.03%	0.02%	0.01%	0.02%	0.03%	0.03%
Operating CF Growth %	0.38%	0%	0.35%	-0.19%	0.25%	-0.46%	0.01%	0.83%	0.49%	0.03%
Net Income	167.52M	210M	444M	407M	385M	-226M	164M	265M	506M	494M
Depreciation & Amortization	399.25M	421M	378M	340M	362M	422M	378M	372M	395M	438M
Stock-Based Compensation	15.83M	18M	21M	28M	32M	40M	48M	45M	56M	63M
Deferred Taxes	17.61M	-80M	-123M	45M	7M	-51M	38M	17M	9M	-10M
Other Non-Cash Items	29.48M	65M	21M	24M	28M	74M	21M	23M	57M	171M
Working Capital Changes	-73.91M	-78M	7M	-235M	-54M	154M	-230M	43M	117M	18M
Change in Receivables	9.6M	22M	-67M	-71M	-19M	334M	-386M	-240M	-157M	-140M
Change in Inventory	-55.05M	-101M	40M	-72M	16M	201M	-413M	70M	61M	-16M
Change in Payables	-71.45M	131M	17M	79M	-56M	-339M	471M	193M	200M	170M
Cash from Investing+	-271.21M	-762M	-356M	-232M	-1.99B	-1.11B	-262M	-255M	-495M	-552M
Capital Expenditures	-187.41M	-164M	-221M	-235M	-258M	-189M	-274M	-265M	-309M	-341M
CapEx % of Revenue	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	7.82M	17M	25M	3M	103M	51M	12M	10M	10M	3M
Cash from Financing+	-110.42M	-180M	-405M	-391M	1.22B	1.43B	-837M	-447M	-587M	-831M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-666M	0	0	0	0	-28M	-37M	-7M	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-3.57M	-23M	-1M	26M	-11M	-17M	-9M	17M	24M	9M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	368.36M	385M	528M	374M	502M	224M	145M	500M	831M	833M
FCF Margin %	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%	0%	0.01%	0.02%	0.02%
FCF Growth %	0.44%	0.05%	0.37%	-0.29%	0.34%	-0.55%	-0.35%	2.45%	0.66%	0%
FCF per Share	1.91	1.89	2.34	1.72	2.28	1.02	0.64	2.21	3.32	3.41
FCF Conversion (FCF/Net Income)	3.32x	2.65x	1.68x	1.50x	1.97x	-1.83x	2.55x	2.89x	2.25x	2.38x
Interest Paid	345.73M	223M	158M	160M	173M	216M	185M	243M	294M	284M
Taxes Paid	7.86M	5M	11M	78M	137M	0	1M	68M	161M	181M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.59%	9.52%	16.79%	13.61%	11.1%	-5.83%	3.94%	6.05%	10.95%	10.65%
Return on Invested Capital (ROIC)	2.28%	4.98%	6.85%	7.42%	6.76%	-0.64%	3.35%	4.64%	7.91%	8.42%
Gross Margin	17.35%	17.68%	17.46%	17.81%	17.68%	16.25%	15.79%	16.13%	17.27%	17.25%
Net Margin	0.72%	0.92%	1.84%	1.68%	1.48%	-0.99%	0.56%	0.78%	1.42%	1.3%
Debt / Equity	2.64x	1.55x	1.42x	1.13x	1.38x	1.53x	1.28x	1.18x	1.10x	1.20x
Interest Coverage	0.67x	1.83x	3.46x	3.76x	3.80x	-0.32x	1.99x	2.33x	3.14x	3.49x
FCF Conversion	3.32x	2.65x	1.68x	1.50x	1.97x	-1.83x	2.55x	2.89x	2.25x	2.38x
Revenue Growth	0.47%	-0.9%	5.36%	0.12%	7.3%	-11.77%	28.85%	15.5%	4.52%	6.4%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024
Product One	8.12B	8.69B	8.63B	9.31B	8.13B	11.24B	12.38B	11.95B	12.93B
Product One Growth	-	7.04%	-0.66%	7.85%	-12.69%	38.30%	10.05%	-3.41%	8.17%
Product Two	4.13B	4.27B	4.24B	4.43B	3.93B	4.98B	5.76B	6.41B	6.62B
Product Two Growth	-	3.37%	-0.64%	4.44%	-11.20%	26.66%	15.65%	11.27%	3.39%
Product Three	3.65B	3.8B	3.9B	4.25B	3.58B	4.45B	5.25B	6.05B	6.42B
Product Three Growth	-	3.99%	2.61%	9.11%	-15.75%	24.28%	17.97%	15.23%	6.11%
Product Four	2.38B	2.53B	2.52B	2.69B	2.39B	2.8B	3.56B	3.73B	4.04B
Product Four Growth	-	6.43%	-0.52%	6.55%	-10.84%	17.00%	27.24%	4.57%	8.29%
Product Five	2.17B	2.24B	2.3B	2.48B	2.46B	3.09B	3.54B	3.57B	3.57B
Product Five Growth	-	3.58%	2.44%	8.05%	-1.13%	25.87%	14.43%	0.99%	-0.11%
Product Six	1.27B	1.31B	1.31B	1.4B	1.19B	1.47B	1.73B	1.97B	2.16B
Product Six Growth	-	3.05%	0.66%	6.69%	-15.47%	23.52%	18.16%	13.86%	9.64%
Product Seven	1.2B	1.31B	1.27B	1.38B	1.21B	1.45B	1.84B	1.92B	2.14B
Product Seven Growth	-	8.53%	-2.85%	8.27%	-12.36%	20.66%	26.55%	4.08%	11.54%

Frequently Asked Questions

Valuation & Price

US Foods Holding Corp. (USFD) has a price-to-earnings (P/E) ratio of 42.2x. This suggests investors expect higher future growth.

Growth & Financials

US Foods Holding Corp. (USFD) reported $39.12B in revenue for fiscal year 2024. This represents a 75% increase from $22.30B in 2013.

US Foods Holding Corp. (USFD) grew revenue by 6.4% over the past year. This is steady growth.

Yes, US Foods Holding Corp. (USFD) is profitable, generating $558.0M in net income for fiscal year 2024 (1.3% net margin).

Dividend & Returns

US Foods Holding Corp. (USFD) has a return on equity (ROE) of 10.7%. This is reasonable for most industries.

US Foods Holding Corp. (USFD) generated $978.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.