The Chefs' Warehouse, Inc., together with its subsidiaries, distributes specialty food and center-of-the-plate products in the United States, the Middle East, and Canada. It offers specialty food products, such as artisan charcuterie, specialty cheeses, unique oils and vinegars, truffles, caviar, chocolate, and pastry products and center-of-the-plate products that includes custom cut beef, seafood, and hormone-free poultry, as well as produce and broadline food products comprising cooking oils, butter, eggs, milk, and flour. The company serves menu-driven independent restaurants, fine dining establishments, country clubs, hotels, caterers, culinary schools, bakeries, patisseries, chocolatiers, cruise lines, casinos, and specialty food stores. It markets its center-of-the-plate products directly to consumers through a mail and e-commerce platform. The Chefs' Warehouse, Inc. was founded in 1985 and is headquartered in Ridgefield, Connecticut.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.1B | $223M | $72M | $88M | 12.0% | 9.4% | 30.4% |
| 2024 | $3.8B | $193M | $55M | $104M | 10.3% | 10.5% | 60.4% |
| 2023 | $3.4B | $157M | $35M | $4M | 7.6% | 31.4% | 24.6% |
| 2022 | $2.6B | $124M | $28M | $-23M | 6.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 2,613.40 | 3,433.76 | 3,794.21 | 4,149.54 |
| Cost Of Revenue | 1,994.76 | 2,619.29 | 2,880.06 | 3,145.45 |
| Gross Profit | 618.64 | 814.47 | 914.15 | 1,004.09 |
| Operating Expense | 532.90 | 713.53 | 785.94 | 850.98 |
| Operating Income | 85.74 | 100.94 | 128.21 | 153.11 |
| EBITDA | 123.98 | 156.55 | 193.14 | 223.24 |
| EBIT | 85.74 | 100.94 | 128.21 | 145.11 |
| Pretax Income | 41.89 | 55.47 | 79.53 | 103.54 |
| Tax Provision | 14.14 | 20.88 | 24.05 | 31.18 |
| Net Income | 27.75 | 34.59 | 55.48 | 72.36 |
| Net Income Common Stockholders | 27.75 | 34.59 | 55.48 | 72.36 |
| Total Expenses | 2,527.66 | 3,332.82 | 3,666 | 3,996.43 |
| Interest Expense | 43.85 | 45.47 | 48.68 | 41.56 |
| Selling General And Administration | 518.22 | 704.76 | 784.85 | 849.79 |
| Normalized EBITDA | 123.98 | 156.55 | 193.14 | 231.24 |
| Normalized Income | 27.75 | 34.59 | 55.48 | 77.95 |
| Market Cap | 2,669.71 | 2,669.71 | 2,669.71 | 2,669.71 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Chefs' Warehouse, Inc.this co. | CHEF | $2.5B | 36.89β premium | 4.42 | 12.0% | 15.78 |
| Freshpet, Inc. | FRPT | $3.2B | 23.32 | 2.68 | 11.5% | 19.83 |
| National Beverage Corp. | FIZZ | $3.2B | 17.14 | 7.21 | 42.1% | 12.02 |
| Interparfums, Inc. | IPAR | $2.9B | 17.37 | 3.32 | 19.1% | 9.79 |
| The Vita Coco Company, Inc. | COCO | $2.9B |
| 40.33 |
| 8.68 |
| 21.5% |
| 32.23 |
| The Andersons, Inc. | ANDE | $2.6B | 27.01 | 2.08 | 7.7% | 10.66 |
| Central Garden & Pet Company | CENT | $2.4B | 14.72 | 1.51 | 10.3% | 8.22 |
| Central Garden & Pet Company | CENTA | $2.2B | 13.29 | 1.37 | 10.3% | 7.57 |
| Perdoceo Education Corporation | PRDO | $2.1B | 12.68 | 2.09 | 16.4% | 7.68 |
| Peer Median | - | 17.25 | 2.39 | 14.0% | 10.22 | |