stockrow
Monday 2 November 2026
Export USFD’s income statement to Excel — free account
US Foods Holding Corp.
USFD Consumer Defensive Food Distribution
US Foods Holding Corp.’s revenue for fiscal 2025 (year ended December 2025) was $39.4 billion, up 4.08% from fiscal 2024.
- Revenue
- +4.46%
- EPS
- +29.9%
- Free cash flow
- +36.0%
- Total debt
- +8.40%
Quarter to June 2026, against a year earlier
105.49
1.88
+1.81%
Follow USFD
Alert me
Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 22,919 | 24,147 | 24,175 | 25,939 | 22,885 | 29,487 | 34,057 | 35,597 | 37,877 | 39,424 | 40,133 | +6.2% | 41,468 | 43,135 | 45,456 | +4.9% | |
| Gross margin, % | 17.68 | 17.47 | 17.81 | 17.68 | 16.25 | 15.79 | 16.13 | 17.27 | 17.25 | 17.41 | 17.55 | (0.3) pt | ||||||
| EBT | 131 | 404 | 496 | 511 | (294) | 214 | 361 | 678 | 644 | 898 | 961 | +23.8% | ||||||
| EBT margin, % | 0.57 | 1.67 | 2.05 | 1.97 | (1.28) | 0.73 | 1.06 | 1.90 | 1.70 | 2.28 | 2.39 | +1.7 pt | ||||||
| Net income | 210 | 444 | 407 | 385 | (226) | 164 | 265 | 506 | 494 | 676 | 728 | +13.9% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 114.52 | 108.28 | 111.92 | 118.99 | 104.02 | 132.82 | 152.04 | 148.94 | 157.17 | 173.67 | 183.26 | +4.7% | |||||
| Earnings | 1.05 | 2.00 | 1.88 | 1.77 | (1.15) | 0.74 | 1.02 | 2.09 | 2.05 | 2.98 | 3.30 | +12.3% | ||||||
| Cash flow | 2.74 | 3.36 | 2.82 | 3.49 | 1.88 | 1.89 | 3.42 | 4.77 | 4.87 | 6.03 | 6.25 | +9.1% | ||||||
| Capex | (0.73) | (0.88) | (1.07) | (1.14) | (0.66) | (1.20) | (1.14) | (1.25) | (1.40) | (1.78) | (1.92) | +10.3% | ||||||
| Free cash flow | 2.01 | 2.48 | 1.75 | 2.34 | 1.22 | 0.68 | 2.28 | 3.52 | 3.47 | 4.25 | 4.33 | +8.7% | ||||||
| Book value | 12.68 | 12.34 | 14.95 | 17.01 | 18.40 | 19.23 | 20.07 | 19.87 | 18.79 | 18.97 | 19.54 | +4.6% | ||||||
| Shares, m | 200 | 223 | 216 | 218 | 220 | 222 | 224 | 239 | 241 | 227 | 223 | +1.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 28.69 | 16.02 | 16.83 | 23.67 | 0.00 | 64.50 | 33.78 | 22.22 | 33.23 | 25.28 | 31.97 | 26.4 | |||||
| P/S | 0.24 | 0.30 | 0.28 | 0.35 | 0.32 | 0.26 | 0.22 | 0.31 | 0.43 | 0.43 | 0.58 | 0.3 | ||||||
| P/B | 2.17 | 2.60 | 2.12 | 2.46 | 2.08 | 2.07 | 1.93 | 2.31 | 3.59 | 3.97 | 5.40 | 2.5 | ||||||
| EV/Sales | 0.40 | 0.45 | 0.42 | 0.53 | 0.54 | 0.43 | 0.36 | 0.43 | 0.56 | 0.56 | 0.70 | 0.5 | ||||||
| EV/FCF | 22.79 | 19.50 | 27.02 | 26.96 | 45.70 | 82.86 | 24.09 | 18.31 | 25.27 | 23.06 | 29.83 | 31.6 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 549 | 749 | 609 | 760 | 413 | 419 | 765 | 1,140 | 1,174 | 1,369 | 1,369 | +10.7% | |||||
| Capex | (147) | (196) | (232) | (249) | (145) | (267) | (255) | (299) | (338) | (404) | (421) | +11.9% | ||||||
| Free cash flow | 402 | 553 | 377 | 511 | 268 | 152 | 510 | 841 | 836 | 965 | 948 | +10.2% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 820 | 816 | 903 | 900 | 1,483 | 1,044 | 1,024 | 919 | 678 | 573 | 536 | (3.9%) | |||||
| Net debt | 3,651 | 3,638 | 3,353 | 4,646 | 4,920 | 4,863 | 4,643 | 4,405 | 4,869 | 5,159 | 5,181 | +3.9% | ||||||
| Shareholders’ equity | 2,538 | 2,751 | 3,229 | 3,709 | 4,049 | 4,269 | 4,495 | 4,749 | 4,528 | 4,307 | 4,279 | +6.1% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 2.31 | 4.94 | 4.47 | 3.76 | (2.14) | 1.31 | 1.80 | 3.90 | 3.71 | 4.94 | 5.18 | +2.6 pt | |||||
| ROIC | 4.23 | 5.75 | 6.25 | 5.23 | (0.54) | 2.90 | 4.06 | 6.94 | 7.31 | 7.92 | 8.34 | +3.7 pt | ||||||
| ROE | 9.52 | 16.79 | 13.61 | 11.10 | (7.02) | 4.51 | 5.93 | 11.62 | 10.65 | 15.30 | 16.35 | +5.8 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 25,000 | 25,355 | 25,000 | 28,000 | 26,000 | 28,000 | 29,000 | 30,000 | 30,000 | 30,000 | — | +2.0% | |||||
| Revenue/emp, $m | 0.92 | 0.95 | 0.97 | 0.93 | 0.88 | 1.05 | 1.17 | 1.19 | 1.26 | 1.31 | — | +4.1% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Reportable Segment | 39,424 | 100.00% |
|---|---|---|
| Gross margin | 17.41% | |
| Operating margin | 3.04% | |
| Pre-tax margin | 2.28% |
US Foods Holding Corp. vs peers in Food Distribution (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| SYY Sysco Corporation | $40.8B | 22.7× | 17.2× | +4.67% (above 0%: growing) | +4.55% (above 0%: growing) | +13.54% (above 0%: growing) | 18.69% | 4.45% | Compare |
| USFD US Foods Holding Corp. | $22.4B | 31.4× | 26.1× | +4.46% (above 0%: growing) | +29.90% (above 0%: growing) | +36.02% (above 0%: growing) | 18.22% | 4.21% | |
| PFGC Performance Food Group Company | $15.6B | 42.9× | 26.0× | +6.43% (above 0%: growing) | +22.35% (above 0%: growing) | +6.02% (above 0%: growing) | 12.03% | 1.80% | Compare |
| CHEF The Chefs' Warehouse, Inc. | $4.5B | 43.2× | 41.2× | +12.92% (above 0%: growing) | +58.18% (above 0%: growing) | +987.24% (above 0%: growing) | 25.06% | 5.02% | Compare |
| UNFI United Natural Foods, Inc. | $2.8B | 33.0× | 16.2× | −0.70% (below 0%: shrinking) | n/m | +11.82% (above 0%: growing) | 13.74% | 0.90% | Compare |
| ANDE The Andersons, Inc. | $2.2B | 12.3× | 11.7× | −1.22% (below 0%: shrinking) | +621.74% (above 0%: growing) | +64.62% (above 0%: growing) | 7.22% | 1.61% | Compare |
| AVO Mission Produce, Inc. | $1.0B | 288× | 84.1× | +25.80% (above 0%: growing) | n/m | −161.50% (below 0%: shrinking) | 9.93% | 0.11% | Compare |
| WILCF G. Willi-Food International, Ltd. | $397.9M | 12.8× | 17.7× | +13.27% (above 0%: growing) | −26.56% (below 0%: shrinking) | +253.73% (above 0%: growing) | 33.33% | 15.77% | Compare |
| HFFG HF FOODS GROUP INC. | $78.2M | — (loss-making) | 13.2× | +2.84% (above 0%: growing) | +150.00% (above 0%: growing) | −1,361.99% (below 0%: shrinking) | 17.00% | 0.87% | Compare |
| Median of peers | $2.5B | 33.0× | 17.5× | +5.55% | +40.27% | +12.68% | 15.37% | 1.71% |
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
108.79%
Held by the ten largest
59.25%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Wellington Management | 23.01m | 10.64% | +7.26m |
| Vanguard | 21.88m | 10.12% | +26.08k |
| BlackRock | 20.85m | 9.64% | +410.09k |
| Boston Partners | 18.61m | 8.60% | +2.21m |
| T. Rowe Price | 11.55m | 5.34% | +1.44m |
| Fidelity (FMR) | 8.94m | 4.13% | −4.84m |
| State Street | 6.99m | 3.23% | +117.19k |
| Invesco | 5.67m | 2.62% | −442.14k |
| Victory Capital | 5.44m | 2.52% | −634.06k |
| Capital Group | 5.21m | 2.41% | −4.45m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 2 April 2026
Ownership
Directors and executive officers, together
less than 1%
The Vanguard Group, Inc.
11.00%
Blackrock, Inc.
8.80%
Boston Partners One Beacon Street,
7.00%
FMR LLC
6.90%
Wellington Management Group LLP
5.80%
Capital World Investors
5.30%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
US Foods is a broadline foodservice distributor: it buys a wide range of food and other products from suppliers and sells them to businesses and institutions that serve meals. Its customers include independent and chain restaurants, healthcare providers, hotels, schools and government facilities.
The company supplies fresh, frozen and dry foods, along with equipment, disposable products and other supplies. Its assortment includes national brands and its own Exclusive Brands. It operates as one business, with shared systems and centralized activities alongside local customer-facing teams.