Chefs' Warehouse
CHEF · Food Distributors
$105.88
1.3%US Foods
USFD · Food Distributors
$100.91
3.0%The short version
- US Foods is the larger business, with $39.4B of revenue in fiscal 2025 against $4.1B for Chefs' Warehouse, about 9.5 times as much.
- Chefs' Warehouse grew revenue faster (9.4%, against 4.1%).
- US Foods earned a higher return on the capital invested in it (9.6%, against 8.5%).
- Investors pay more for each dollar of Chefs' Warehouse’s earnings: a P/E of 57.9x against 31.0x for US Foods.
| Latest fiscal year | CHEF · FY25 | USFD · FY25 |
|---|---|---|
| Size | ||
| Market cap | $4.9B | $22.3B |
| Revenue | $4.1B | $39.4B |
| Free cash flow | $87.8M | $959M |
| Net income | $72.4M | $676M |
| Growth | ||
| Revenue growth | 9.4% | 4.1% |
| 5-year growth | 30.1% | 11.5% |
| Share count change | 0.0% | −5.7% |
| Profitability | ||
| Gross margin | 24.2% | 17.4% |
| Operating margin | 3.5% | 3.0% |
| Net margin | 1.7% | 1.7% |
| FCF margin | 2.1% | 2.4% |
| Return on capital | 8.5% | 9.6% |
| Return on equity | 12.7% | 15.3% |
| Balance sheet | ||
| Net debt | $638M | $5.2B |
| Net debt / EBITDA | 3.2x | 3.1x |
| Dividends and buybacks | $15.0M | $926M |
| Valuation & quality | ||
| P/E | 57.9x | 31.0x |
| Piotroski F-score | 8 | 7 |
FY16
CHEF $1.2B
USFD $22.9B
FY17
CHEF $1.3B
USFD $24.1B
FY18
CHEF $1.4B
USFD $24.2B
FY19
CHEF $1.6B
USFD $25.9B
FY20
CHEF $1.1B
USFD $22.9B
FY21
CHEF $1.7B
USFD $29.5B
FY22
CHEF $2.6B
USFD $34.1B
FY23
CHEF $3.4B
USFD $35.6B
FY24
CHEF $3.8B
USFD $37.9B
FY25
CHEF $4.1B
USFD $39.4B
CHEF
USFD
FY16
CHEF 4.0%
USFD 1.8%
FY17
CHEF 3.2%
USFD 2.4%
FY18
CHEF 3.4%
USFD 2.7%
FY19
CHEF 3.2%
USFD 2.7%
FY20
CHEF −9.2%
USFD −0.3%
FY21
CHEF 0.6%
USFD 1.4%
FY22
CHEF 3.3%
USFD 1.7%
FY23
CHEF 2.9%
USFD 2.9%
FY24
CHEF 3.4%
USFD 2.9%
FY25
CHEF 3.5%
USFD 3.0%
CHEF
USFD
FY16
CHEF $22.3M
USFD $385M
FY17
CHEF $19.2M
USFD $528M
FY18
CHEF $25.3M
USFD $374M
FY19
CHEF $28.9M
USFD $502M
FY20
CHEF $35.8M
USFD $224M
FY21
CHEF −$58.7M
USFD $145M
FY22
CHEF −$22.7M
USFD $500M
FY23
CHEF $4.2M
USFD $831M
FY24
CHEF $104M
USFD $833M
FY25
CHEF $87.8M
USFD $959M
CHEF
USFD
FY16
CHEF 5.3%
USFD 6.8%
FY17
CHEF 6.3%
USFD 9.3%
FY18
CHEF 6.7%
USFD 8.3%
FY19
CHEF 6.7%
USFD 7.1%
FY20
CHEF −14.1%
USFD −0.7%
FY21
CHEF 1.4%
USFD 3.8%
FY22
CHEF 7.2%
USFD 5.1%
FY23
CHEF 6.1%
USFD 8.6%
FY24
CHEF 7.8%
USFD 9.1%
FY25
CHEF 8.5%
USFD 9.6%
CHEF
USFD
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