Chefs' Warehouse
CHEF · Food Distributors
$105.88
1.3%Sysco
SYY · Food Distributors
$81.37
3.1%The short version
- Sysco is the larger business, with $84.6B of revenue in fiscal 2026 against $4.1B for Chefs' Warehouse, about 20 times as much.
- Chefs' Warehouse grew revenue faster (9.4%, against 3.9%).
- Sysco earned a higher return on the capital invested in it (16.8%, against 8.5%).
- Investors pay more for each dollar of Chefs' Warehouse’s earnings: a P/E of 57.9x against 22.2x for Sysco.
| Latest fiscal year | CHEF · FY25 | SYY · FY26 |
|---|---|---|
| Size | ||
| Market cap | $4.9B | $39.1B |
| Revenue | $4.1B | $84.6B |
| Free cash flow | $87.8M | $1.9B |
| Net income | $72.4M | $1.8B |
| Growth | ||
| Revenue growth | 9.4% | 3.9% |
| 5-year growth | 30.1% | 10.5% |
| Share count change | 0.0% | −1.9% |
| Profitability | ||
| Gross margin | 24.2% | 18.5% |
| Operating margin | 3.5% | 3.7% |
| Net margin | 1.7% | 2.1% |
| FCF margin | 2.1% | 2.3% |
| Return on capital | 8.5% | 16.8% |
| Return on equity | 12.7% | 78.2% |
| Balance sheet | ||
| Net debt | $638M | $11.7B |
| Net debt / EBITDA | 3.2x | 2.9x |
| Dividends and buybacks | $15.0M | $1.2B |
| Valuation & quality | ||
| P/E | 57.9x | 22.2x |
| Piotroski F-score | 8 | 7 |
FY17
CHEF $1.3B
SYY $55.4B
FY18
CHEF $1.4B
SYY $58.7B
FY19
CHEF $1.6B
SYY $60.1B
FY20
CHEF $1.1B
SYY $52.9B
FY21
CHEF $1.7B
SYY $51.3B
FY22
CHEF $2.6B
SYY $68.6B
FY23
CHEF $3.4B
SYY $76.3B
FY24
CHEF $3.8B
SYY $78.8B
FY25
CHEF $4.1B
SYY $81.4B
FY26
CHEF —
SYY $84.6B
CHEF
SYY
FY17
CHEF 3.2%
SYY 3.7%
FY18
CHEF 3.4%
SYY 3.9%
FY19
CHEF 3.2%
SYY 3.9%
FY20
CHEF −9.2%
SYY 1.4%
FY21
CHEF 0.6%
SYY 2.8%
FY22
CHEF 3.3%
SYY 3.4%
FY23
CHEF 2.9%
SYY 4.0%
FY24
CHEF 3.4%
SYY 4.1%
FY25
CHEF 3.5%
SYY 3.8%
FY26
CHEF —
SYY 3.7%
CHEF
SYY
FY17
CHEF $19.2M
SYY $1.5B
FY18
CHEF $25.3M
SYY $1.5B
FY19
CHEF $28.9M
SYY $1.7B
FY20
CHEF $35.8M
SYY $898M
FY21
CHEF −$58.7M
SYY $1.4B
FY22
CHEF −$22.7M
SYY $1.2B
FY23
CHEF $4.2M
SYY $2.1B
FY24
CHEF $104M
SYY $2.2B
FY25
CHEF $87.8M
SYY $1.6B
FY26
CHEF —
SYY $1.9B
CHEF
SYY
FY17
CHEF 6.3%
SYY 15.9%
FY18
CHEF 6.7%
SYY 16.9%
FY19
CHEF 6.7%
SYY 19.1%
FY20
CHEF −14.1%
SYY 6.0%
FY21
CHEF 1.4%
SYY 15.0%
FY22
CHEF 7.2%
SYY 17.9%
FY23
CHEF 6.1%
SYY 20.6%
FY24
CHEF 7.8%
SYY 19.7%
FY25
CHEF 8.5%
SYY 17.2%
FY26
CHEF —
SYY 16.8%
CHEF
SYY
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