United Natural Foods (UNFI) Financials

$26.75 +0.51 (+1.94%)

As of 03:58 PM Eastern

Annual Income Statements for United Natural Foods

This table shows United Natural Foods' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	125	139	126	130	163	-285	-274	149	248	24	-112
Consolidated Net Income / (Loss)	125	139	126	130	163	-285	-269	155	254	30	-110
Net Income / (Loss) Continuing Operations	125	139	126	130	163	-282	-251	149	254	30	-110
Total Pre-Tax Income	207	230	208	214	210	-341	-342	183	310	7.00	-137
Total Operating Income	211	242	224	226	224	-196	-193	294	423	120	8.00
Total Gross Profit	1,128	1,261	1,279	1,429	1,520	3,220	3,889	3,939	4,182	4,131	4,201
Total Revenue	6,794	8,185	8,470	9,274	10,227	22,341	26,559	26,950	28,928	30,272	30,980
Operating Revenue	6,794	8,185	8,470	9,274	10,227	22,341	26,559	26,950	28,928	30,272	30,980
Total Cost of Revenue	5,667	6,924	7,191	7,846	8,707	19,121	22,670	23,011	24,746	26,141	26,779
Operating Cost of Revenue	5,667	6,924	7,191	7,846	8,707	19,121	22,670	23,011	24,746	26,141	26,779
Total Operating Expenses	917	1,019	1,055	1,203	1,296	3,416	4,082	3,645	3,759	4,011	4,193
Selling, General & Admin Expense	917	1,018	1,050	1,196	1,275	2,976	3,552	3,593	3,825	3,973	4,100
Restructuring Charge	0.00	0.80	5.55	6.86	9.74	148	87	56	21	8.00	36
Other Special Charges / (Income)	-	-	-	-	0.00	-1.00	18	-4.00	-87	30	57
Total Other Income / (Expense), net	-3.38	-12	-16	-12	-14	-145	-149	-111	-113	-113	-145
Interest Expense	7.75	14	16	17	16	181	192	204	155	144	162
Other Income / (Expense), net	3.87	1.95	-0.74	5.15	1.55	36	43	93	42	31	17
Income Tax Expense	82	91	82	84	47	-59	-91	34	56	-23	-27
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	0.00	0.00	0.00	5.00	6.00	6.00	6.00	2.00
Basic Earnings per Share	-	-	-	$2.57	$3.22	($5.56)	($5.10)	$2.65	$4.28	$0.41	($1.89)
Weighted Average Basic Shares Outstanding	49.60M	50.02M	50.31M	50.57M	50.53M	51.20M	53.80M	56.10M	58M	59.20M	59.30M
Diluted Earnings per Share	-	-	-	$2.56	$3.20	($5.56)	($5.10)	$2.48	$4.07	$0.40	($1.89)
Weighted Average Diluted Shares Outstanding	49.89M	50.27M	50.40M	50.78M	50.84M	51.20M	53.80M	60M	61M	60.70M	59.30M
Weighted Average Basic & Diluted Shares Outstanding	49.78M	50.10M	50.39M	50.62M	50.42M	53.43M	54.84M	56.45M	58.31M	58.50M	59.52M

This table shows United Natural Foods' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Income / (Loss) Attributable to Common Shareholders	39	66	19	7.00	-68	-39	-15	-21	-37	-21	-3.00
Consolidated Net Income / (Loss)	41	67	22	8.00	-67	-39	-14	-20	-37	-20	-2.00
Net Income / (Loss) Continuing Operations	41	67	22	8.00	-67	-39	-14	-20	-37	-20	-2.00
Total Pre-Tax Income	44	72	31	7.00	-103	-48	-19	-26	-44	-24	-5.00
Total Operating Income	68	99	63	33	-75	-16	16	6.00	2.00	5.00	27
Total Gross Profit	1,053	1,096	1,069	1,000	966	1,030	1,035	1,020	1,116	1,038	1,072
Total Revenue	7,273	7,532	7,816	7,507	7,417	7,552	7,775	7,498	8,155	7,871	8,158
Operating Revenue	7,273	7,532	7,816	7,507	7,417	7,552	7,775	7,498	8,155	7,871	8,158
Total Cost of Revenue	6,220	6,436	6,747	6,507	6,451	6,522	6,740	6,478	7,039	6,833	7,086
Operating Cost of Revenue	6,220	6,436	6,747	6,507	6,451	6,522	6,740	6,478	7,039	6,833	7,086
Total Operating Expenses	985	997	1,006	967	1,041	1,046	1,019	1,014	1,114	1,033	1,045
Selling, General & Admin Expense	980	1,000	1,002	967	1,004	1,023	1,010	992	1,075	1,015	1,031
Restructuring Charge	5.00	2.00	3.00	-4.00	7.00	4.00	4.00	9.00	19	12	9.00
Other Special Charges / (Income)	-	-5.00	1.00	4.00	30	19	5.00	13	20	6.00	5.00
Total Other Income / (Expense), net	-24	-27	-32	-26	-28	-32	-35	-32	-46	-29	-32
Interest Expense	34	35	39	35	35	35	40	37	50	36	38
Other Income / (Expense), net	10	8.00	7.00	9.00	7.00	3.00	5.00	5.00	4.00	7.00	6.00
Income Tax Expense	3.00	5.00	9.00	-1.00	-36	-9.00	-5.00	-6.00	-7.00	-4.00	-3.00
Net Income / (Loss) Attributable to Noncontrolling Interest	2.00	1.00	3.00	1.00	1.00	0.00	1.00	1.00	-	1.00	1.00
Basic Earnings per Share	$0.66	$1.12	$0.32	$0.12	($1.15)	($0.67)	($0.25)	($0.34)	($0.63)	($0.35)	($0.05)
Weighted Average Basic Shares Outstanding	58M	58.80M	59.80M	59.40M	59.20M	58.70M	59.40M	59.40M	59.30M	59.60M	60.20M
Diluted Earnings per Share	$0.64	$1.07	$0.31	$0.12	($1.10)	($0.67)	($0.25)	($0.34)	($0.63)	($0.35)	($0.05)
Weighted Average Diluted Shares Outstanding	61M	61.60M	61M	60.40M	60.70M	58.70M	59.40M	59.40M	59.30M	59.60M	60.20M
Weighted Average Basic & Diluted Shares Outstanding	58.31M	59.83M	59.40M	58.60M	58.50M	59.41M	59.44M	59.47M	59.52M	59.92M	60.52M

This table details how cash moves in and out of United Natural Foods' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	5.01	1.26	1.21	-3.18	7.90	2.00	2.00	-6.00	3.00	-7.00	3.00
Net Cash From Operating Activities	62	49	297	273	109	285	457	614	331	624	253
Net Cash From Continuing Operating Activities	62	49	297	273	109	293	457	614	331	624	253
Net Income / (Loss) Continuing Operations	125	139	126	130	163	-282	-251	149	254	30	-110
Consolidated Net Income / (Loss)	125	139	126	130	163	-285	-269	155	254	30	-110
Depreciation Expense	49	64	71	86	88	248	282	285	285	304	319
Non-Cash Adjustments To Reconcile Net Income	13	14	23	28	51	364	554	32	103	156	88
Changes in Operating Assets and Liabilities, net	-125	-168	77	29	-193	-37	-128	148	-311	134	-44
Net Cash From Investing Activities	-353	-142	-351	-60	-47	-2,259	-1.00	-237	-49	-339	-342
Net Cash From Continuing Investing Activities	-353	-142	-351	-60	-47	-2,341	-28	-239	-49	-339	-342
Purchase of Property, Plant & Equipment	-147	-129	-41	-56	-45	-228	-173	-310	-251	-323	-345
Purchase of Investments	-	-	-	-2.00	-	-	-	-11	-28	-32	-22
Sale of Property, Plant & Equipment	6.08	1.03	0.11	0.17	1.04	179	147	82	230	16	25
Net Cash From Financing Activities	295	94	56	-217	-54	1,996	-453	-384	-279	-292	92
Net Cash From Continuing Financing Activities	295	94	56	-217	-54	1,996	-453	-384	-279	-292	92
Repayment of Debt	-571	-793	-660	-430	-582	-3,945	-4,741	-4,543	-4,667	-3,160	-2,483
Repurchase of Common Equity	-3.76	-2.43	-1.72	-1.31	-29	-3.00	-1.00	-14	-41	-102	-7.00
Payment of Dividends	-	-	-	-	0.00	-1.00	-5.00	-4.00	-4.00	-6.00	-4.00
Issuance of Debt	865	883	716	216	556	5,921	4,280	4,176	4,425	2,976	2,586
Other Financing Activities, net	4.82	6.16	1.93	-1.32	-	24	14	1.00	8.00	0.00	0.00
Effect of Exchange Rate Changes	0.02	0.04	-0.83	0.57	-0.58	-	-1.00	1.00	0.00	0.00	0.00
Cash Interest Paid	6.60	15	17	17	16	183	182	146	134	133	159
Cash Income Taxes Paid	77	72	67	79	64	78	-22	-16	5.00	-5.00	-14

This table details how cash moves in and out of United Natural Foods' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Net Change in Cash & Equivalents	-4.00	-5.00	1.00	-2.00	-1.00	0.00	-3.00	5.00	1.00	-3.00	7.00
Net Cash From Operating Activities	362	-262	532	132	222	-254	183	125	199	-110	247
Net Cash From Continuing Operating Activities	362	-262	532	132	222	-254	183	125	199	-110	247
Net Income / (Loss) Continuing Operations	41	67	22	8.00	-67	-39	-14	-20	-37	-20	-2.00
Consolidated Net Income / (Loss)	41	67	22	8.00	-67	-39	-14	-20	-37	-20	-2.00
Depreciation Expense	75	74	73	77	80	78	74	76	91	80	81
Non-Cash Adjustments To Reconcile Net Income	60	24	31	39	62	26	17	21	24	10	12
Changes in Operating Assets and Liabilities, net	186	-427	406	8.00	147	-319	106	48	121	-180	156
Net Cash From Investing Activities	-94	-61	-82	-68	-128	-72	-70	-84	-116	-47	-53
Net Cash From Continuing Investing Activities	-94	-61	-82	-68	-128	-72	-70	-84	-116	-47	-53
Purchase of Property, Plant & Equipment	-93	-67	-84	-67	-105	-74	-67	-76	-128	-49	-54
Sale of Property, Plant & Equipment	-1.00	7.00	5.00	2.00	2.00	9.00	2.00	3.00	11	4.00	1.00
Net Cash From Financing Activities	-272	319	-450	-66	-95	326	-116	-36	-82	154	-186
Net Cash From Continuing Financing Activities	-272	319	-450	-66	-95	326	-116	-36	-82	154	-186
Repayment of Debt	-844	-836	-1,169	-494	-661	-264	-954	-570	-695	-180	-961
Repurchase of Common Equity	1.00	-49	-19	-12	-22	-6.00	-	-	-1.00	-4.00	-5.00
Payment of Dividends	-	-2.00	-	-3.00	-1.00	-1.00	-1.00	-2.00	-	-1.00	-1.00
Issuance of Debt	572	1,206	738	443	589	597	839	536	614	339	781
Effect of Exchange Rate Changes	-	-1.00	1.00	-	-	0.00	-	-	-	0.00	-1.00
Cash Interest Paid	24	40	25	49	19	44	30	44	41	48	29
Cash Income Taxes Paid	5.00	-1.00	4.00	-7.00	-1.00	-12	-1.00	3.00	-4.00	-2.00	1.00

This table presents United Natural Foods' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	2,289	2,541	2,852	2,887	2,964	7,174	7,587	7,525	7,628	7,394	7,528
Total Current Assets	1,370	1,546	1,611	1,663	1,789	3,559	3,705	3,550	3,797	3,463	3,402
Cash & Equivalents	16	17	19	15	23	44	47	41	44	37	40
Note & Lease Receivable	-	-	-	-	580	1,067	1,120	1,103	1,214	889	953
Inventories, net	835	975	1,022	1,032	1,136	2,191	2,282	2,247	2,355	2,292	2,179
Prepaid Expenses	45	47	46	49	50	236	253	157	184	245	230
Plant, Property, & Equipment, net	484	572	617	602	571	1,896	1,701	0.00	1,690	1,767	1,820
Total Noncurrent Assets	435	422	624	622	604	1,719	2,181	3,975	2,141	2,164	2,306
Goodwill	275	267	366	371	362	442	20	20	20	20	19
Intangible Assets	135	126	222	208	193	1,090	970	891	819	722	649
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	0.00	34	108	57	0.00	32	87
Other Noncurrent Operating Assets	25	30	36	42	49	108	1,079	3,005	1,302	1,390	1,551
Total Liabilities & Shareholders' Equity	2,289	2,541	2,852	2,887	2,964	7,174	7,587	7,525	7,628	7,394	7,528
Total Liabilities	1,046	1,160	1,333	1,205	1,119	5,670	6,445	6,011	5,836	5,650	5,887
Total Current Liabilities	515	528	620	704	699	2,109	2,370	2,487	2,417	2,405	2,365
Short-Term Debt	0.99	12	12	12	12	112	83	120	27	18	11
Accounts Payable	378	390	445	535	517	1,532	1,634	1,644	1,742	1,781	1,688
Accrued Expenses	137	126	162	157	104	261	283	341	260	283	288
Current Employee Benefit Liabilities	-	-	-	-	66	188	229	243	232	143	197
Other Current Liabilities	-	-	-	-	-	0.00	131	135	156	180	181
Total Noncurrent Liabilities	530	632	713	501	419	3,561	4,075	3,524	3,419	3,245	3,522
Long-Term Debt	448	536	588	373	309	2,819	2,427	2,175	2,109	1,956	2,081
Noncurrent Employee Benefit Liabilities	-	-	-	-	0.00	237	292	53	18	16	15
Other Noncurrent Operating Liabilities	31	30	29	28	35	395	1,354	1,296	1,284	1,273	1,426
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,243	1,381	1,520	1,682	1,846	1,504	1,142	1,514	1,792	1,744	1,641
Total Preferred & Common Equity	1,243	1,381	1,520	1,682	1,846	1,507	1,145	1,515	1,791	1,743	1,641
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,243	1,381	1,520	1,682	1,846	1,507	1,145	1,515	1,791	1,743	1,641
Common Stock	403	421	437	461	484	531	570	600	609	607	636
Retained Earnings	845	979	1,105	1,235	1,400	1,109	838	978	1,226	1,250	1,138
Treasury Stock	-	-	-	0.00	-24	-24	-24	-24	-24	-86	-86
Accumulated Other Comprehensive Income / (Loss)	-5.15	-19	-22	-14	-14	-109	-239	-39	-20	-28	-47
Noncontrolling Interest	-	-	-	-	0.00	-2.74	-3.00	-1.00	1.00	1.00	0.00

This table presents United Natural Foods' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Total Assets	7,878	8,199	7,635	7,641	7,848	7,671	7,585	7,966	7,731
Total Current Assets	3,980	4,360	3,741	3,692	3,957	3,581	3,511	3,743	3,481
Cash & Equivalents	48	39	40	38	37	34	39	37	44
Note & Lease Receivable	1,228	1,351	992	985	1,013	990	971	1,103	1,030
Inventories, net	2,559	2,756	2,512	2,465	2,648	2,311	2,232	2,402	2,227
Prepaid Expenses	145	214	197	204	259	246	269	201	180
Plant, Property, & Equipment, net	1,638	1,684	1,719	1,735	1,744	1,766	1,776	1,800	1,790
Total Noncurrent Assets	2,260	2,155	2,175	2,214	2,147	2,324	2,298	2,423	2,460
Goodwill	20	20	20	20	19	20	20	19	19
Intangible Assets	837	801	783	765	703	685	668	631	611
Noncurrent Deferred & Refundable Income Taxes	31	-	-	-	32	34	33	86	85
Other Noncurrent Operating Assets	1,372	1,334	1,372	1,429	1,393	1,585	1,577	1,687	1,745
Total Liabilities & Shareholders' Equity	7,878	8,199	7,635	7,641	7,848	7,671	7,585	7,966	7,731
Total Liabilities	6,094	6,364	5,790	5,799	6,149	5,979	5,904	6,341	6,106
Total Current Liabilities	2,389	2,565	2,396	2,455	2,577	2,336	2,318	2,530	2,394
Short-Term Debt	26	27	23	21	16	12	11	10	9.00
Accounts Payable	1,715	1,924	1,797	1,837	1,934	1,722	1,677	1,906	1,768
Accrued Expenses	251	258	249	268	277	247	258	278	271
Current Employee Benefit Liabilities	244	199	166	165	169	168	186	156	190
Other Current Liabilities	153	157	161	164	181	187	186	180	156
Total Noncurrent Liabilities	3,705	3,799	3,394	3,344	3,572	3,643	3,586	3,811	3,712
Long-Term Debt	2,377	2,485	2,065	2,022	2,296	2,176	2,148	2,244	2,068
Noncurrent Employee Benefit Liabilities	20	18	18	18	16	15	16	15	15
Other Noncurrent Operating Liabilities	1,281	1,259	1,297	1,276	1,250	1,452	1,411	1,541	1,629
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,784	1,835	1,845	1,842	1,699	1,692	1,681	1,625	1,625
Total Preferred & Common Equity	1,785	1,835	1,842	1,841	1,699	1,692	1,681	1,625	1,625
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,785	1,835	1,842	1,841	1,699	1,692	1,681	1,625	1,625
Common Stock	600	584	593	603	607	617	625	639	643
Retained Earnings	1,187	1,292	1,311	1,318	1,211	1,196	1,175	1,117	1,114
Treasury Stock	-24	-36	-53	-65	-86	-86	-86	-86	-86
Accumulated Other Comprehensive Income / (Loss)	22	-5.00	-9.00	-15	-33	-35	-33	-45	-46
Noncontrolling Interest	-1.00	0.00	3.00	1.00	0.00	0.00	0.00	0.00	0.00

This table displays calculated financial ratios and metrics derived from United Natural Foods' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.04%	20.47%	3.49%	9.49%	10.27%	118.46%	18.88%	1.47%	7.34%	4.65%	2.34%
EBITDA Growth	18.77%	16.82%	-4.33%	7.76%	-1.13%	-71.94%	50.00%	409.09%	11.61%	-39.33%	-24.40%
EBIT Growth	19.66%	13.63%	-8.42%	3.50%	-2.23%	-170.79%	6.25%	358.00%	20.16%	-67.53%	-83.44%
NOPAT Growth	10.99%	14.56%	-7.35%	1.36%	26.83%	-178.85%	1.53%	277.19%	44.79%	48.39%	-98.91%
Net Income Growth	16.34%	10.56%	-9.35%	3.49%	25.06%	-275.09%	5.61%	157.62%	63.87%	-88.19%	-466.67%
EPS Growth	0.00%	0.00%	0.00%	0.00%	25.00%	-273.75%	8.27%	148.63%	64.11%	-90.17%	-572.50%
Operating Cash Flow Growth	40.80%	-21.71%	507.01%	-7.85%	-60.11%	161.38%	60.35%	34.35%	-46.09%	88.52%	-59.46%
Free Cash Flow Firm Growth	-399.75%	70.03%	38.71%	442.13%	-72.75%	-4,855.39%	129.21%	-88.45%	183.36%	211.07%	-100.89%
Invested Capital Growth	33.82%	14.01%	9.93%	-2.33%	6.01%	104.54%	-18.87%	4.38%	3.08%	-5.23%	0.33%
Revenue Q/Q Growth	1.83%	3.76%	1.83%	1.39%	2.52%	27.14%	-2.07%	-0.24%	1.90%	0.48%	2.44%
EBITDA Q/Q Growth	1.02%	3.69%	0.79%	2.37%	-6.17%	191.52%	-40.90%	-0.55%	-0.66%	-23.66%	32.82%
EBIT Q/Q Growth	0.23%	3.25%	-0.51%	2.33%	-8.18%	44.36%	-117.75%	-2.70%	-1.06%	-49.16%	151.02%
NOPAT Q/Q Growth	-1.49%	5.50%	-1.36%	0.05%	-2.37%	36.83%	-70.33%	-17.19%	5.41%	118.22%	111.59%
Net Income Q/Q Growth	1.05%	2.00%	-1.11%	3.32%	-5.23%	-3.96%	11.53%	-5.54%	-1.55%	-78.26%	21.43%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-3.15%	11.46%	-13.29%	-1.45%	-81.31%	19.92%
Operating Cash Flow Q/Q Growth	4.54%	-36.43%	13.79%	7.57%	38.10%	31.03%	-30.77%	80.21%	34.01%	-18.32%	-8.33%
Free Cash Flow Firm Q/Q Growth	-124.22%	65.00%	-154.58%	741.56%	513.23%	-8.92%	6.18%	-62.24%	197.28%	32.91%	-476.47%
Invested Capital Q/Q Growth	12.78%	1.74%	9.65%	-1.45%	-4.28%	4.22%	2.37%	4.66%	-6.77%	-4.69%	-3.12%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.60%	15.40%	15.10%	15.41%	14.86%	14.41%	14.64%	14.62%	14.46%	13.65%	13.56%
EBITDA Margin	3.88%	3.76%	3.48%	3.42%	3.07%	0.39%	0.50%	2.49%	2.59%	1.50%	1.11%
Operating Margin	3.10%	2.96%	2.65%	2.44%	2.20%	-0.88%	-0.73%	1.09%	1.46%	0.40%	0.03%
EBIT Margin	3.16%	2.98%	2.64%	2.49%	2.21%	-0.72%	-0.56%	1.44%	1.61%	0.50%	0.08%
Profit (Net Income) Margin	1.85%	1.70%	1.48%	1.40%	1.59%	-1.28%	-1.01%	0.58%	0.88%	0.10%	-0.36%
Tax Burden Percent	60.50%	60.38%	60.40%	60.70%	77.52%	83.58%	78.66%	84.70%	81.94%	428.57%	80.29%
Interest Burden Percent	96.62%	94.20%	93.22%	92.75%	92.91%	213.13%	228.00%	47.29%	66.67%	4.64%	-548.00%
Effective Tax Rate	39.50%	39.62%	39.60%	39.30%	22.48%	0.00%	0.00%	18.58%	18.06%	-328.57%	0.00%
Return on Invested Capital (ROIC)	8.71%	8.14%	6.75%	6.61%	8.23%	-4.14%	-3.35%	6.49%	9.06%	13.60%	0.15%
ROIC Less NNEP Spread (ROIC-NNEP)	8.01%	6.62%	5.02%	5.13%	5.02%	-13.17%	-8.30%	2.92%	4.80%	-10.44%	-5.64%
Return on Net Nonoperating Assets (RNNOA)	2.01%	2.43%	1.92%	1.52%	1.00%	-12.87%	-16.98%	5.18%	6.31%	-11.90%	-6.65%
Return on Equity (ROE)	10.71%	10.57%	8.67%	8.13%	9.23%	-17.01%	-20.33%	11.67%	15.37%	1.70%	-6.50%
Cash Return on Invested Capital (CROIC)	-20.22%	-4.95%	-2.71%	8.96%	2.40%	-72.80%	17.48%	2.21%	6.03%	18.96%	-0.17%
Operating Return on Assets (OROA)	10.68%	10.10%	8.28%	8.06%	7.73%	-3.16%	-2.03%	5.12%	6.14%	2.01%	0.34%
Return on Assets (ROA)	6.24%	5.74%	4.66%	4.54%	5.56%	-5.62%	-3.64%	2.05%	3.35%	0.40%	-1.47%
Return on Common Equity (ROCE)	10.71%	10.57%	8.67%	8.13%	9.23%	-17.03%	-20.37%	11.69%	15.37%	1.70%	-6.50%
Return on Equity Simple (ROE_SIMPLE)	10.09%	10.05%	8.28%	7.74%	8.82%	-18.91%	-23.49%	10.23%	14.18%	1.72%	-6.70%
Net Operating Profit after Tax (NOPAT)	128	146	135	137	174	-137	-135	239	347	514	5.60
NOPAT Margin	1.88%	1.78%	1.60%	1.48%	1.70%	-0.61%	-0.51%	0.89%	1.20%	1.70%	0.02%
Net Nonoperating Expense Percent (NNEP)	0.70%	1.53%	1.73%	1.48%	3.21%	9.03%	4.95%	3.57%	4.26%	24.04%	5.80%
Cost of Revenue to Revenue	83.40%	84.60%	84.90%	84.59%	85.14%	85.59%	85.36%	85.38%	85.54%	86.35%	86.44%
SG&A Expenses to Revenue	13.49%	12.43%	12.39%	12.90%	12.46%	13.32%	13.37%	13.33%	13.22%	13.12%	13.23%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.49%	12.44%	12.46%	12.97%	12.67%	15.29%	15.37%	13.53%	12.99%	13.25%	13.53%
Earnings before Interest and Taxes (EBIT)	215	244	223	231	226	-160	-150	387	465	151	25
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	263	308	294	317	314	88	132	672	750	455	344
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.34	1.65	1.66	1.14	0.89	0.29	0.95	1.23	1.38	0.70	0.53
Price to Tangible Book Value (P/TBV)	3.50	2.31	2.70	1.74	1.27	0.00	7.00	3.09	2.60	1.21	0.89
Price to Revenue (P/Rev)	0.43	0.28	0.30	0.21	0.16	0.02	0.04	0.07	0.09	0.04	0.03
Price to Earnings (P/E)	23.23	16.44	20.02	14.73	10.08	0.00	0.00	12.53	9.99	50.59	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.30%	6.08%	4.99%	6.79%	9.92%	0.00%	0.00%	7.98%	10.01%	1.98%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.00	1.47	1.48	1.11	0.91	0.77	0.98	1.09	1.18	0.86	0.79
Enterprise Value to Revenue (EV/Rev)	0.49	0.34	0.37	0.25	0.19	0.15	0.13	0.15	0.16	0.10	0.09
Enterprise Value to EBITDA (EV/EBITDA)	12.71	9.13	10.53	7.21	6.28	39.04	26.86	6.13	6.09	6.93	8.49
Enterprise Value to EBIT (EV/EBIT)	15.60	11.52	13.88	9.90	8.72	0.00	0.00	10.64	9.83	20.88	116.81
Enterprise Value to NOPAT (EV/NOPAT)	26.25	19.24	22.90	16.67	11.32	0.00	0.00	17.21	13.19	6.13	521.48
Enterprise Value to Operating Cash Flow (EV/OCF)	53.64	57.52	10.45	8.37	18.07	12.06	7.76	6.71	13.81	5.05	11.54
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	12.29	38.85	0.00	5.03	50.62	19.82	4.39	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.40	0.39	0.23	0.19	2.02	2.20	1.52	1.19	1.13	1.27
Long-Term Debt to Equity	0.36	0.39	0.39	0.22	0.18	1.95	2.13	1.44	1.18	1.12	1.27
Financial Leverage	0.25	0.37	0.38	0.30	0.20	0.98	2.05	1.78	1.31	1.14	1.18
Leverage Ratio	1.72	1.84	1.86	1.79	1.66	3.03	5.58	5.69	4.58	4.25	4.41
Compound Leverage Factor	1.66	1.73	1.73	1.66	1.54	6.45	12.72	2.69	3.06	0.20	-24.16
Debt to Total Capital	26.54%	28.39%	28.31%	18.65%	16.04%	66.89%	68.73%	60.25%	54.38%	53.09%	56.04%
Short-Term Debt to Total Capital	0.06%	0.60%	0.56%	0.59%	0.57%	2.47%	2.27%	3.15%	0.69%	0.48%	0.29%
Long-Term Debt to Total Capital	26.48%	27.79%	27.75%	18.06%	15.48%	64.43%	66.46%	57.10%	53.69%	52.61%	55.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	-0.06%	-0.08%	-0.03%	0.03%	0.03%	0.00%
Common Equity to Total Capital	73.46%	71.61%	71.69%	81.35%	83.96%	33.17%	31.35%	39.77%	45.60%	46.88%	43.96%
Debt to EBITDA	1.71	1.78	2.04	1.22	1.12	34.54	19.02	3.42	2.85	4.34	6.08
Net Debt to EBITDA	1.64	1.72	1.98	1.17	1.05	34.03	18.66	3.35	2.79	4.26	5.97
Long-Term Debt to EBITDA	1.70	1.74	2.00	1.18	1.09	33.26	18.39	3.24	2.81	4.30	6.05
Debt to NOPAT	3.52	3.75	4.43	2.81	2.03	-22.15	-18.58	9.59	6.16	3.84	373.57
Net Debt to NOPAT	3.40	3.63	4.30	2.70	1.89	-21.83	-18.23	9.42	6.04	3.77	366.43
Long-Term Debt to NOPAT	3.51	3.67	4.35	2.72	1.96	-21.34	-17.96	9.09	6.09	3.80	371.61
Altman Z-Score	5.92	5.74	5.32	5.43	5.68	3.55	3.90	4.29	4.69	4.70	4.59
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-0.08%	-0.22%	-0.15%	0.00%	0.06%	0.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.66	2.93	2.60	2.36	2.56	1.69	1.56	1.43	1.57	1.44	1.44
Quick Ratio	0.89	0.93	0.82	0.77	0.86	0.53	0.49	0.46	0.52	0.39	0.42
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-296	-89	-54	186	51	-2,411	704	81	231	717	-6.40
Operating Cash Flow to CapEx	44.20%	38.14%	718.77%	488.58%	250.27%	581.63%	1,757.69%	269.30%	1,576.19%	203.26%	79.06%
Free Cash Flow to Firm to Interest Expense	-38.20	-6.12	-3.35	11.11	3.16	-13.32	3.67	0.40	1.49	4.98	-0.04
Operating Cash Flow to Interest Expense	8.05	3.37	18.24	16.31	6.80	1.57	2.38	3.01	2.14	4.33	1.56
Operating Cash Flow Less CapEx to Interest Expense	-10.16	-5.47	15.70	12.98	4.09	1.30	2.24	1.89	2.00	2.20	-0.41
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	3.38	3.39	3.14	3.23	3.50	4.41	3.60	3.57	3.82	4.03	4.15
Accounts Receivable Turnover	17.40	17.87	17.57	18.27	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	7.37	7.65	7.20	7.64	8.03	11.50	10.14	10.16	10.75	11.25	11.98
Fixed Asset Turnover	16.52	15.50	14.25	15.22	17.43	18.11	14.77	0.00	0.00	17.51	17.27
Accounts Payable Turnover	17.14	18.04	17.21	16.01	16.56	18.66	14.32	14.04	14.62	14.84	15.44
Days Sales Outstanding (DSO)	20.98	20.42	20.77	19.98	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	49.50	47.70	50.68	47.76	45.43	31.75	36.01	35.92	33.94	32.44	30.47
Days Payable Outstanding (DPO)	21.30	20.23	21.21	22.80	22.05	19.56	25.49	26.00	24.97	24.60	23.64
Cash Conversion Cycle (CCC)	49.18	47.89	50.25	44.95	23.39	12.19	10.52	9.92	8.97	7.85	6.83
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,676	1,911	2,101	2,052	2,175	4,450	3,610	3,768	3,884	3,681	3,693
Invested Capital Turnover	4.64	4.56	4.22	4.47	4.84	6.74	6.59	7.31	7.56	8.00	8.40
Increase / (Decrease) in Invested Capital	424	235	190	-49	123	2,274	-840	158	116	-203	12
Enterprise Value (EV)	3,348	2,811	3,100	2,287	1,970	3,436	3,546	4,119	4,571	3,152	2,920
Market Capitalization	2,915	2,280	2,518	1,917	1,640	444	1,086	1,866	2,478	1,214	868
Book Value per Share	$25.04	$27.57	$30.16	$33.23	$36.58	$28.59	$20.94	$26.89	$30.72	$29.74	$27.59
Tangible Book Value per Share	$16.79	$19.74	$18.48	$21.78	$25.57	($0.48)	$2.83	$10.72	$16.33	$17.08	$16.36
Total Capital	1,693	1,929	2,120	2,068	2,199	4,544	3,652	3,809	3,928	3,718	3,733
Total Debt	449	548	600	386	353	3,039	2,510	2,295	2,136	1,974	2,092
Total Long-Term Debt	448	536	588	373	340	2,927	2,427	2,175	2,109	1,956	2,081
Net Debt	433	530	582	370	329	2,995	2,463	2,254	2,092	1,937	2,052
Capital Expenditures (CapEx)	141	128	41	56	44	49	26	228	21	307	320
Debt-free, Cash-free Net Working Capital (DFCFNWC)	839	1,013	985	955	1,079	1,518	1,371	1,142	1,363	1,039	1,008
Debt-free Net Working Capital (DFNWC)	855	1,030	1,003	971	1,102	1,562	1,418	1,183	1,407	1,076	1,048
Net Working Capital (NWC)	854	1,018	991	959	1,090	1,450	1,335	1,063	1,380	1,058	1,037
Net Nonoperating Expense (NNE)	2.04	7.36	9.60	7.04	11	148	134	84	93	484	116
Net Nonoperating Obligations (NNO)	433	530	582	370	329	2,945	2,468	2,254	2,092	1,937	2,052
Total Depreciation and Amortization (D&A)	49	64	71	86	88	248	282	285	285	304	319
Debt-free, Cash-free Net Working Capital to Revenue	12.35%	12.37%	11.63%	10.30%	10.55%	6.79%	5.16%	4.24%	4.71%	3.43%	3.25%
Debt-free Net Working Capital to Revenue	12.59%	12.58%	11.85%	10.47%	10.78%	6.99%	5.34%	4.39%	4.86%	3.55%	3.38%
Net Working Capital to Revenue	12.58%	12.44%	11.71%	10.34%	10.66%	6.49%	5.03%	3.94%	4.77%	3.50%	3.35%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($5.56)	($5.10)	$2.65	$4.28	$0.41	($1.89)
Adjusted Weighted Average Basic Shares Outstanding	49.60M	50.02M	50.31M	50.57M	50.53M	51.25M	53.78M	56.10M	58M	59.20M	59.30M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($5.56)	($5.10)	$2.48	$4.07	$0.40	($1.89)
Adjusted Weighted Average Diluted Shares Outstanding	49.89M	50.27M	50.40M	50.78M	50.84M	51.54M	53.78M	60M	61M	60.70M	59.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	49.78M	50.10M	50.39M	50.62M	50.42M	53.43M	54.84M	56.45M	58.31M	58.50M	59.52M
Normalized Net Operating Profit after Tax (NOPAT)	128	147	139	141	190	171	236	282	293	111	71
Normalized NOPAT Margin	1.88%	1.79%	1.64%	1.52%	1.86%	0.76%	0.89%	1.05%	1.01%	0.37%	0.23%
Pre Tax Income Margin	3.05%	2.81%	2.46%	2.31%	2.05%	-1.53%	-1.29%	0.68%	1.07%	0.02%	-0.44%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	27.69	16.82	13.74	13.80	14.10	-0.88	-0.78	1.90	3.00	1.05	0.15
NOPAT to Interest Expense	16.45	10.08	8.33	8.19	10.86	-0.76	-0.70	1.17	2.24	3.57	0.03
EBIT Less CapEx to Interest Expense	9.47	7.99	11.20	10.46	11.39	-1.15	-0.92	0.78	2.86	-1.08	-1.82
NOPAT Less CapEx to Interest Expense	-1.77	1.24	5.79	4.85	8.14	-1.03	-0.84	0.06	2.10	1.44	-1.94
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-0.35%	-1.86%	2.58%	1.57%	20.00%	-3.64%
Augmented Payout Ratio	2.99%	1.75%	1.37%	1.01%	17.69%	-1.40%	-2.23%	11.61%	17.72%	360.00%	-10.00%

This table displays calculated financial ratios and metrics derived from United Natural Foods' official financial filings.

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.99%	7.65%	5.39%	3.66%	1.98%	0.27%	-0.52%	-0.12%	9.95%	4.22%	4.93%
EBITDA Growth	-3.16%	-2.16%	-30.58%	-42.23%	-92.16%	-64.09%	-33.57%	-26.89%	708.33%	41.54%	20.00%
EBIT Growth	-6.02%	-7.76%	-48.91%	-68.66%	-187.18%	-112.15%	-70.00%	-73.81%	108.82%	192.31%	57.14%
NOPAT Growth	47.68%	-15.02%	-51.08%	-56.26%	-182.86%	-112.16%	-74.95%	-88.86%	102.67%	131.25%	68.75%
Net Income Growth	-8.89%	-12.99%	-67.65%	-88.24%	-263.41%	-158.21%	-163.64%	-350.00%	44.78%	48.72%	85.71%
EPS Growth	-8.57%	-14.40%	-71.30%	-89.09%	-271.88%	-162.62%	-180.65%	-383.33%	42.73%	47.76%	80.00%
Operating Cash Flow Growth	30.22%	-223.46%	329.03%	278.38%	-38.67%	3.05%	-65.60%	-5.30%	-10.36%	56.69%	34.97%
Free Cash Flow Firm Growth	54.27%	-8.32%	156.92%	171.25%	385.92%	268.19%	-73.63%	-84.14%	-107.04%	-59.59%	255.50%
Invested Capital Growth	3.08%	7.18%	-4.33%	-7.30%	-5.23%	-7.95%	-1.21%	-1.29%	0.33%	-3.29%	-4.89%
Revenue Q/Q Growth	0.43%	3.56%	3.77%	-3.95%	-1.20%	1.82%	2.95%	-3.56%	8.76%	-3.48%	3.65%
EBITDA Q/Q Growth	-25.73%	18.30%	-20.99%	-16.78%	-89.92%	441.67%	46.15%	-8.42%	11.49%	-5.15%	23.91%
EBIT Q/Q Growth	-41.79%	37.18%	-34.58%	-40.00%	-261.90%	80.88%	261.54%	-47.62%	-45.45%	100.00%	175.00%
NOPAT Q/Q Growth	-26.52%	45.39%	-51.47%	-15.65%	-239.20%	78.67%	200.00%	-62.50%	-66.67%	150.00%	440.00%
Net Income Q/Q Growth	-39.71%	63.41%	-67.16%	-63.64%	-937.50%	41.79%	64.10%	-42.86%	-85.00%	45.95%	90.00%
EPS Q/Q Growth	-41.82%	67.19%	-71.03%	-61.29%	-1,016.67%	39.09%	62.69%	-36.00%	-85.29%	44.44%	85.71%
Operating Cash Flow Q/Q Growth	589.19%	-172.38%	303.05%	-75.19%	68.18%	-214.41%	172.05%	-31.69%	59.20%	-155.28%	324.55%
Free Cash Flow Firm Q/Q Growth	89.03%	-275.93%	211.54%	54.83%	-55.96%	121.13%	-82.51%	-6.87%	-119.56%	1,368.87%	53.83%
Invested Capital Q/Q Growth	-6.77%	11.43%	-10.05%	-0.80%	-4.69%	8.23%	-3.46%	-0.88%	-3.12%	4.33%	-5.06%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	14.48%	14.55%	13.68%	13.32%	13.02%	13.64%	13.31%	13.60%	13.68%	13.19%	13.14%
EBITDA Margin	2.10%	2.40%	1.83%	1.59%	0.16%	0.86%	1.22%	1.16%	1.19%	1.17%	1.40%
Operating Margin	0.94%	1.31%	0.81%	0.44%	-1.01%	-0.21%	0.21%	0.08%	0.02%	0.06%	0.33%
EBIT Margin	1.07%	1.42%	0.90%	0.56%	-0.92%	-0.17%	0.27%	0.15%	0.07%	0.15%	0.40%
Profit (Net Income) Margin	0.56%	0.89%	0.28%	0.11%	-0.90%	-0.52%	-0.18%	-0.27%	-0.45%	-0.25%	-0.02%
Tax Burden Percent	93.18%	93.06%	70.97%	114.29%	65.05%	81.25%	73.68%	76.92%	84.09%	83.33%	40.00%
Interest Burden Percent	56.41%	67.29%	44.29%	16.67%	151.47%	369.23%	-90.48%	-236.36%	-733.33%	-200.00%	-15.15%
Effective Tax Rate	6.82%	6.94%	29.03%	-14.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	6.59%	8.62%	4.29%	3.77%	-5.66%	-1.08%	1.13%	0.44%	0.14%	0.36%	1.96%
ROIC Less NNEP Spread (ROIC-NNEP)	5.56%	7.60%	3.27%	2.42%	-6.38%	-2.24%	-0.07%	-0.72%	-1.78%	-0.69%	0.96%
Return on Net Nonoperating Assets (RNNOA)	7.31%	10.98%	4.11%	2.94%	-7.27%	-3.03%	-0.09%	-0.85%	-2.10%	-0.93%	1.21%
Return on Equity (ROE)	13.89%	19.59%	8.40%	6.71%	-12.94%	-4.12%	1.04%	-0.41%	-1.95%	-0.58%	3.17%
Cash Return on Invested Capital (CROIC)	6.03%	0.98%	11.62%	13.44%	18.96%	8.36%	0.45%	0.04%	-0.17%	3.86%	5.76%
Operating Return on Assets (OROA)	4.09%	5.17%	3.47%	2.17%	-3.70%	-0.65%	1.07%	0.58%	0.31%	0.60%	1.66%
Return on Assets (ROA)	2.15%	3.24%	1.09%	0.41%	-3.64%	-1.95%	-0.71%	-1.06%	-1.88%	-1.01%	-0.10%
Return on Common Equity (ROCE)	13.89%	19.60%	8.39%	6.71%	-12.93%	-4.12%	1.04%	-0.41%	-1.95%	-0.58%	3.17%
Return on Equity Simple (ROE_SIMPLE)	0.00%	13.30%	10.75%	7.50%	0.00%	-4.47%	-6.62%	-8.33%	0.00%	-5.60%	-4.86%
Net Operating Profit after Tax (NOPAT)	63	92	45	38	-53	-11	11	4.20	1.40	3.50	19
NOPAT Margin	0.87%	1.22%	0.57%	0.50%	-0.71%	-0.15%	0.14%	0.06%	0.02%	0.04%	0.23%
Net Nonoperating Expense Percent (NNEP)	1.03%	1.02%	1.02%	1.35%	0.72%	1.16%	1.20%	1.17%	1.93%	1.04%	1.00%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-0.28%	0.29%	-	-	0.09%	0.51%
Cost of Revenue to Revenue	85.52%	85.45%	86.32%	86.68%	86.98%	86.36%	86.69%	86.40%	86.32%	86.81%	86.86%
SG&A Expenses to Revenue	13.47%	13.28%	12.82%	12.88%	13.54%	13.55%	12.99%	13.23%	13.18%	12.90%	12.64%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	13.54%	13.24%	12.87%	12.88%	14.04%	13.85%	13.11%	13.52%	13.66%	13.12%	12.81%
Earnings before Interest and Taxes (EBIT)	78	107	70	42	-68	-13	21	11	6.00	12	33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	153	181	143	119	12	65	95	87	97	92	114
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.38	1.35	1.32	0.88	0.70	0.49	0.52	0.32	0.53	0.75	1.10
Price to Tangible Book Value (P/TBV)	2.60	2.45	2.34	1.53	1.21	0.85	0.90	0.55	0.89	1.26	1.79
Price to Revenue (P/Rev)	0.09	0.08	0.08	0.05	0.04	0.03	0.03	0.02	0.03	0.04	0.06
Price to Earnings (P/E)	9.99	10.43	12.75	12.36	50.59	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	10.01%	9.59%	7.85%	8.09%	1.98%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.18	1.15	1.15	0.94	0.86	0.78	0.79	0.70	0.79	0.90	1.04
Enterprise Value to Revenue (EV/Rev)	0.16	0.17	0.15	0.12	0.10	0.10	0.10	0.09	0.09	0.11	0.12
Enterprise Value to EBITDA (EV/EBITDA)	6.09	6.67	6.57	6.11	6.93	9.18	10.44	10.32	8.49	9.31	9.78
Enterprise Value to EBIT (EV/EBIT)	9.83	10.91	11.53	12.26	20.88	100.39	0.00	0.00	116.81	69.06	61.53
Enterprise Value to NOPAT (EV/NOPAT)	13.19	15.03	15.66	15.45	6.13	889.20	0.00	0.00	521.48	170.10	136.25
Enterprise Value to Operating Cash Flow (EV/OCF)	13.81	33.16	8.04	4.77	5.05	4.92	10.74	9.69	11.54	8.70	8.28
Enterprise Value to Free Cash Flow (EV/FCFF)	19.82	121.57	9.70	6.75	4.39	8.96	172.68	1,572.74	0.00	22.82	17.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.19	1.38	1.13	1.12	1.13	1.37	1.29	1.29	1.27	1.39	1.28
Long-Term Debt to Equity	1.18	1.37	1.12	1.11	1.12	1.36	1.29	1.28	1.27	1.39	1.27
Financial Leverage	1.31	1.44	1.26	1.21	1.14	1.35	1.19	1.18	1.18	1.36	1.26
Leverage Ratio	4.58	4.73	4.38	4.28	4.25	4.54	4.33	4.32	4.41	4.76	4.64
Compound Leverage Factor	2.59	3.19	1.94	0.71	6.43	16.77	-3.92	-10.22	-32.33	-9.52	-0.70
Debt to Total Capital	54.38%	57.98%	53.09%	52.77%	53.09%	57.75%	56.39%	56.35%	56.04%	58.23%	56.10%
Short-Term Debt to Total Capital	0.69%	0.62%	0.58%	0.54%	0.48%	0.40%	0.31%	0.29%	0.29%	0.26%	0.24%
Long-Term Debt to Total Capital	53.69%	57.36%	52.50%	52.23%	52.61%	57.35%	56.08%	56.06%	55.75%	57.97%	55.86%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.03%	0.00%	0.08%	0.03%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	45.60%	42.02%	46.83%	47.21%	46.88%	42.25%	43.61%	43.65%	43.96%	41.77%	43.90%
Debt to EBITDA	2.85	3.39	3.06	3.45	4.34	6.85	7.52	8.38	6.08	6.11	5.33
Net Debt to EBITDA	2.79	3.34	3.00	3.39	4.26	6.74	7.40	8.23	5.97	6.01	5.21
Long-Term Debt to EBITDA	2.81	3.36	3.02	3.42	4.30	6.80	7.48	8.34	6.05	6.08	5.30
Debt to NOPAT	6.16	7.65	7.29	8.73	3.84	663.43	-74.42	-44.93	373.57	111.58	74.18
Net Debt to NOPAT	6.04	7.53	7.15	8.57	3.77	652.86	-73.27	-44.12	366.43	109.75	72.61
Long-Term Debt to NOPAT	6.09	7.57	7.21	8.64	3.80	658.86	-74.01	-44.70	371.61	111.08	73.86
Altman Z-Score	4.52	4.35	4.65	4.56	4.60	4.36	4.45	4.45	4.58	4.43	4.66
Noncontrolling Interest Sharing Ratio	0.00%	-0.06%	0.06%	0.00%	0.06%	0.00%	0.08%	0.03%	0.03%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.57	1.70	1.56	1.50	1.44	1.54	1.53	1.51	1.44	1.48	1.45
Quick Ratio	0.52	0.54	0.43	0.42	0.39	0.41	0.44	0.44	0.42	0.45	0.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-53	-198	221	342	151	333	58	54	-11	135	207
Operating Cash Flow to CapEx	385.11%	-436.67%	673.42%	203.08%	215.53%	-390.77%	281.54%	171.23%	170.09%	-244.44%	466.04%
Free Cash Flow to Firm to Interest Expense	-1.55	-5.65	5.66	9.76	4.30	9.51	1.46	1.46	-0.21	3.74	5.44
Operating Cash Flow to Interest Expense	10.65	-7.49	13.64	3.77	6.34	-7.26	4.58	3.38	3.98	-3.06	6.50
Operating Cash Flow Less CapEx to Interest Expense	7.88	-9.20	11.62	1.91	3.40	-9.11	2.95	1.41	1.64	-4.31	5.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	3.82	3.64	3.87	3.88	4.03	3.78	3.95	3.97	4.15	3.96	4.11
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	10.75	9.53	10.38	10.31	11.25	9.71	10.87	11.15	11.98	10.73	12.09
Fixed Asset Turnover	0.00	17.07	17.15	17.86	17.51	17.67	17.36	17.23	17.27	17.66	17.82
Accounts Payable Turnover	14.62	13.21	14.51	14.59	14.84	13.60	14.90	14.91	15.44	14.11	15.72
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	33.94	38.29	35.16	35.39	32.44	37.60	33.57	32.73	30.47	34.02	30.19
Days Payable Outstanding (DPO)	24.97	27.64	25.16	25.02	24.60	26.85	24.49	24.49	23.64	25.87	23.21
Cash Conversion Cycle (CCC)	8.97	10.66	10.00	10.37	7.85	10.76	9.08	8.24	6.83	8.15	6.97
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	3,884	4,328	3,893	3,862	3,681	3,984	3,846	3,812	3,693	3,853	3,658
Invested Capital Turnover	7.56	7.04	7.50	7.51	8.00	7.29	7.82	7.88	8.40	7.99	8.44
Increase / (Decrease) in Invested Capital	116	290	-176	-304	-203	-344	-47	-50	12	-131	-188
Enterprise Value (EV)	4,571	4,974	4,486	3,641	3,152	3,112	3,039	2,674	2,920	3,453	3,815
Market Capitalization	2,478	2,481	2,435	1,620	1,214	827	885	543	868	1,225	1,782
Book Value per Share	$30.72	$31.47	$30.79	$30.99	$29.74	$29.04	$28.48	$28.28	$27.59	$27.30	$27.12
Tangible Book Value per Share	$16.33	$17.39	$17.37	$17.78	$17.08	$16.70	$16.61	$16.71	$16.36	$16.38	$16.61
Total Capital	3,928	4,367	3,933	3,900	3,718	4,021	3,880	3,851	3,733	3,890	3,702
Total Debt	2,136	2,532	2,088	2,058	1,974	2,322	2,188	2,170	2,092	2,265	2,077
Total Long-Term Debt	2,109	2,505	2,065	2,037	1,956	2,306	2,176	2,159	2,081	2,255	2,068
Net Debt	2,092	2,493	2,048	2,020	1,937	2,285	2,154	2,131	2,052	2,228	2,033
Capital Expenditures (CapEx)	94	60	79	65	103	65	65	73	117	45	53
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,363	1,783	1,328	1,220	1,039	1,359	1,223	1,165	1,008	1,186	1,052
Debt-free Net Working Capital (DFNWC)	1,407	1,822	1,368	1,258	1,076	1,396	1,257	1,204	1,048	1,223	1,096
Net Working Capital (NWC)	1,380	1,795	1,345	1,237	1,058	1,380	1,245	1,193	1,037	1,213	1,087
Net Nonoperating Expense (NNE)	22	25	23	30	15	28	25	24	38	24	21
Net Nonoperating Obligations (NNO)	2,092	2,493	2,048	2,020	1,937	2,285	2,154	2,131	2,052	2,228	2,033
Total Depreciation and Amortization (D&A)	75	74	73	77	80	78	74	76	91	80	81
Debt-free, Cash-free Net Working Capital to Revenue	4.71%	6.05%	4.45%	4.05%	3.43%	4.49%	4.04%	3.85%	3.25%	3.79%	3.32%
Debt-free Net Working Capital to Revenue	4.86%	6.18%	4.58%	4.18%	3.55%	4.61%	4.16%	3.98%	3.38%	3.91%	3.46%
Net Working Capital to Revenue	4.77%	6.09%	4.50%	4.11%	3.50%	4.56%	4.12%	3.94%	3.35%	3.88%	3.43%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.66	$1.12	$0.32	$0.12	($1.15)	($0.67)	($0.25)	($0.34)	($0.63)	($0.35)	($0.05)
Adjusted Weighted Average Basic Shares Outstanding	58M	58.80M	59.80M	59.40M	59.20M	58.70M	59.40M	59.40M	59.30M	59.60M	60.20M
Adjusted Diluted Earnings per Share	$0.64	$1.07	$0.31	$0.12	($1.10)	($0.67)	($0.25)	($0.34)	($0.63)	($0.35)	($0.05)
Adjusted Weighted Average Diluted Shares Outstanding	61M	61.60M	61M	60.40M	60.70M	58.70M	59.40M	59.40M	59.30M	59.60M	60.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	58.31M	59.83M	59.40M	58.60M	58.50M	59.41M	59.44M	59.47M	59.52M	59.92M	60.52M
Normalized Net Operating Profit after Tax (NOPAT)	68	89	48	23	-27	4.90	18	20	29	16	29
Normalized NOPAT Margin	0.94%	1.19%	0.61%	0.31%	-0.36%	0.06%	0.23%	0.26%	0.35%	0.20%	0.35%
Pre Tax Income Margin	0.61%	0.96%	0.40%	0.09%	-1.39%	-0.64%	-0.24%	-0.35%	-0.54%	-0.30%	-0.06%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.29	3.06	1.79	1.20	-1.94	-0.37	0.53	0.30	0.12	0.33	0.87
NOPAT to Interest Expense	1.86	2.63	1.15	1.08	-1.50	-0.32	0.28	0.11	0.03	0.10	0.50
EBIT Less CapEx to Interest Expense	-0.47	1.34	-0.23	-0.66	-4.89	-2.23	-1.10	-1.68	-2.22	-0.92	-0.53
NOPAT Less CapEx to Interest Expense	-0.90	0.92	-0.88	-0.78	-4.44	-2.18	-1.35	-1.86	-2.31	-1.15	-0.90
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	1.57%	1.64%	1.52%	3.62%	20.00%	-6.58%	-5.36%	-3.57%	-3.64%	-4.40%	-5.06%
Augmented Payout Ratio	17.72%	25.00%	38.89%	60.87%	360.00%	-84.21%	-41.07%	-23.57%	-10.00%	-9.89%	-17.72%

Frequently Asked Questions About United Natural Foods' Financials

When does United Natural Foods's fiscal year end?

According to the most recent income statement we have on file, United Natural Foods' financial year ends in August. Their financial year 2024 ended on August 3, 2024.

How has United Natural Foods' net income changed over the last 10 years?

United Natural Foods' net income appears to be on a downward trend, with a most recent value of -$110 million in 2024, falling from $125.48 million in 2014. The previous period was $30 million in 2023.

What is United Natural Foods's operating income?

United Natural Foods's total operating income in 2024 was $8 million, based on the following breakdown:

Total Gross Profit: $4.20 billion
Total Operating Expenses: $4.19 billion

How has United Natural Foods revenue changed over the last 10 years?

Over the last 10 years, United Natural Foods' total revenue changed from $6.79 billion in 2014 to $30.98 billion in 2024, a change of 356.0%.

How much debt does United Natural Foods have?

United Natural Foods' total liabilities were at $5.89 billion at the end of 2024, a 4.2% increase from 2023, and a 463.1% increase since 2014.

How much cash does United Natural Foods have?

In the past 10 years, United Natural Foods' cash and equivalents has ranged from $15.41 million in 2017 to $47 million in 2020, and is currently $40 million as of their latest financial filing in 2024.

How has United Natural Foods' book value per share changed over the last 10 years?

Over the last 10 years, United Natural Foods' book value per share changed from 25.04 in 2014 to 27.59 in 2024, a change of 10.2%.

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This page (NYSE:UNFI) was last updated on 4/30/2025 by MarketBeat.com Staff

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United Natural Foods (UNFI) Financials

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United Natural Foods (UNFI) Financials

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