US Foods Holding Corp. (USFD) annual cash flow statement — 13-year operating, investing & financing history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Cash from Operations | 1.27B | 1.37B | 1.17B | 1.14B | 765M | 419M | 413M | 760M | 609M | 748M | 556M | 555.77M | 402.19M | 322.25M |
| Operating CF Margin % | - | 3.47% | 3.1% | 3.2% | 2.25% | 1.42% | 1.8% | 2.93% | 2.52% | 3.1% | 2.43% | 2.4% | 1.75% | 1.45% |
| Operating CF Growth % | -21.98% | 16.61% | 2.98% | 49.02% | 82.58% | 1.45% | -45.66% | 24.79% | -18.58% | 34.53% | 0.04% | 38.19% | 24.81% | - |
| Net Income | 677M | 676M | 494M | 506M | 265M | 164M | -226M | 385M | 407M | 444M | 210M | 167.52M | -72.91M | -57.21M |
| Depreciation & Amortization | 469M | 462M | 438M | 395M | 372M | 378M | 422M | 362M | 340M | 378M | 421M | 399.25M | 411.55M | 388.19M |
| Stock-Based Compensation | 61M | 83M | 63M | 56M | 45M | 48M | 40M | 32M | 28M | 21M | 18M | 15.83M | 11.74M | 8.41M |
| Deferred Taxes | 89M | 86M | -10M | 9M | 17M | 38M | -51M | 7M | 45M | -123M | -80M | 17.61M | 35.8M | 29.6M |
| Other Non-Cash Items | 77M | 57M | 171M | 57M | 23M | 21M | 74M | 28M | 24M | 21M | 65M | 29.48M | 27.14M | 75.97M |
| Working Capital Changes | -101M | 5M | 18M | 117M | 43M | -230M | 154M | -54M | -235M | 7M | -78M | -73.91M | -11.12M | -122.71M |
| Change in Receivables | -132M | -95M | -140M | -157M | -240M | -386M | 334M | -19M | -71M | -67M | 22M | 9.6M | -47.35M | -26.58M |
| Change in Inventory | -152M | -66M | -16M | 61M | 70M | -413M | 201M | 16M | -72M | 40M | -101M | -55.05M | 105.26M | -65.43M |
| Change in Payables | 244M | 143M | 170M | 200M | 193M | 471M | -339M | -56M | 79M | 17M | 131M | -71.45M | -35.65M | -32.41M |
| Cash from Investing | -465M | -497M | -552M | -495M | -255M | -262M | -1.11B | -1.99B | -232M | -356M | -762M | -271.21M | -118.04M | -187.89M |
| Capital Expenditures | -424M | -410M | -341M | -309M | -265M | -274M | -189M | -258M | -235M | -221M | -164M | -187.41M | -147.09M | -191.13M |
| CapEx % of Revenue | 1.07% | 1.04% | 0.9% | 0.87% | 0.78% | 0.93% | 0.83% | 0.99% | 0.97% | 0.92% | 0.72% | 0.81% | 0.64% | 0.86% |
| Acquisitions | -45M | -131M | -214M | -196M | 0 | 0 | -972M | -1.83B | 0 | -182M | -122M | -69.48M | 0 | -11.37M |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 4M | 44M | 3M | 10M | 10M | 12M | 51M | 103M | 3M | 25M | 17M | 7.82M | 29.05M | 14.61M |
| Cash from Financing | -859M | -890M | -831M | -587M | -447M | -837M | 1.43B | 1.22B | -391M | -405M | -180M | -110.42M | -120.23M | -197.07M |
| Debt Issued (Net) | 184M | 91M | 108M | -310M | -413M | -800M | 953M | 1.23B | -417M | -123M | -597M | -87.35M | -117.58M | -184.35M |
| Equity Issued (Net) | -1B | -942M | -948M | -294M | -14M | 0 | 491M | 0 | 0 | -281M | 1.11B | -19.49M | -431K | -6.57M |
| Dividends Paid | 0 | 0 | 0 | -7M | -37M | -28M | 0 | 0 | 0 | 0 | -666M | 0 | 0 | 0 |
| Share Repurchases | -1.03B | -976M | -948M | -294M | -14M | 0 | 0 | 0 | 0 | -281M | -11M | -19.99M | -628K | -8.42M |
| Other Financing | -42M | -39M | 9M | 24M | 17M | -9M | -17M | -11M | 26M | -1M | -23M | -3.57M | -2.22M | -35.53M |
| Net Change in Cash | -52M | -18M | -209M | 58M | 63M | -680M | 730M | -7M | -14M | -12M | -393M | 174.14M | 163.91M | -62.71M |
| Free Cash Flow | 848M | 959M | 833M | 831M | 500M | 145M | 224M | 502M | 374M | 528M | 385M | 368.36M | 255.1M | 131.12M |
| FCF Margin % | 2.14% | 2.43% | 2.2% | 2.33% | 1.47% | 0.49% | 0.98% | 1.94% | 1.55% | 2.19% | 1.68% | 1.59% | 1.11% | 0.59% |
| FCF Growth % | -22.06% | 15.13% | 0.24% | 66.2% | 244.83% | -35.27% | -55.38% | 34.22% | -29.17% | 37.14% | 4.52% | 44.4% | 94.55% | - |
| FCF per Share | 3.80 | 4.17 | 3.41 | 3.32 | 2.21 | 0.64 | 1.02 | 2.28 | 1.72 | 2.34 | 1.89 | 1.91 | 1.32 | 0.68 |
| FCF Conversion (FCF/Net Income) | 1.25x | 2.03x | 2.38x | 2.25x | 2.89x | 2.55x | -1.83x | 1.97x | 1.50x | 1.68x | 2.65x | 3.32x | -5.52x | -5.63x |
| Interest Paid | 208M | 300M | 284M | 294M | 243M | 185M | 216M | 173M | 160M | 158M | 223M | 345.73M | 278.47M | 298.92M |
| Taxes Paid | 85M | 89M | 181M | 161M | 68M | 1M | 0 | 137M | 78M | 11M | 5M | 7.86M | 0 | 209K |
Quick answers to the most common questions about buying USFD stock.
US Foods Holding Corp. (USFD) generated $1.37B in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
US Foods Holding Corp. (USFD) generated $959.0M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
US Foods Holding Corp. (USFD) spent $410.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, US Foods Holding Corp. (USFD) spent $976.0M on share repurchases. This shows the company's commitment to returning capital to its equity investors.