United Natural Foods, Inc., together with its subsidiaries, engages in the distribution of natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It operates in three segments: Natural, Wholesale, and Retail. The company distributes grocery and general merchandise, perishables, frozen food, wellness and personal care items, bulk and foodservice, home, health and beauty care, pharmacy, pet food, produce, meat, dairy, and organic/non-GMO products under the ESSENTIAL EVERYDAY, SHOPPERS VALUE, WILD HARVEST, Field Day, STONE RIDGE CREAMERY, EQUALINE, CULINARY CIRCLE, and WOODSTOCK brands. It also engages in the manufacture of natural and organic snack food; importing, roasting, packaging, and distributing of nuts, dried fruit, seeds, trail mixes, granola, natural and organic snack items, and confections under the Woodstock Farms Manufacturing brand; and operation of grocery and liquor stores under the Cub Foods and Shoppers brands. In addition, the company provides shelf and planogram management, retail store support, pricing strategy, shelf tags, electronic payments and coupon processing, store layout and design, equipment sourcing and procurement, point-of-sale hardware and software, network and data hosting solutions, consumer convenience services, automation tools, sustainability services, and administrative back-office solutions; consumer and trade marketing programs; and programs to support suppliers in understanding its markets. Further, it offers web and digital marketing services, such as websites, digital coupon and loyalty programs, mobile applications, e-commerce, and circular programs; and various supply chain, digital, and professional services. It serves grocery chains, retailers, and wholesale customers. United Natural Foods, Inc. was founded in 1976 and is headquartered in Providence, Rhode Island.
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 | $31.8B | $306M | $-118M | $239M | -7.6% | 2.6% | 5.4% |
| 2024 | $31.0B | $328M | $-112M | $-92M | -6.8% | 2.3% | -566.7% |
| 2023 | $30.3B | $455M | $24M | $301M | 1.4% | 4.6% | -90.3% |
| 2022 | $28.9B | $750M | $248M | $80M | 13.8% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 28,928 | 30,272 | 30,980 | 31,784 |
| Operating Revenue | - | 28,109 | 30,272 | 32,330 | 33,026 |
| Cost Of Revenue | - | 24,746 | 26,141 | 26,779 | 27,562 |
| Gross Profit | - | 4,182 | 4,131 | 4,201 | 4,222 |
| Operating Expense | - | 3,825 | 3,973 | 4,100 | 4,117 |
| Selling General And Administration | -85 | -40 | -29 | - | - |
| Total Expenses | - | 28,571 | 30,114 | 30,879 | 31,679 |
| Operating Income | - | 357 | 158 | 101 | 105 |
| EBITDA | - | 750 | 455 | 328 | 306 |
| Normalized EBITDA | - | 684 | 493 | 431 | 446 |
| EBIT | - | 465 | 151 | 9 | -15 |
| Interest Income | - | 1 | 2 | 3 | 3 |
| Interest Expense | - | 155 | 144 | 146 | 139 |
| Net Interest Income | - | -155 | -144 | -152 | -142 |
| Other Non Operating Income Expenses | - | 42 | 31 | 17 | 23 |
| Other Income Expense | - | 108 | -7 | -86 | -117 |
| Interest Income Non Operating | - | 1 | 2 | 3 | 3 |
| Interest Expense Non Operating | - | 155 | 144 | 146 | 139 |
| Net Non Operating Interest Income Expense | - | -155 | -144 | -152 | -142 |
| Pretax Income | - | 310 | 7 | -137 | -154 |
| Tax Provision | - | 56 | -23 | -27 | -39 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 11.92 | -7.98 | -20.29 | -35.42 |
| Net Income Continuous Operations | - | 254 | 30 | -110 | -115 |
| Net Income From Continuing And Discontinued Operation | - | 248 | 24 | -112 | -118 |
| Net Income From Continuing Operation Net Minority Interest | - | 248 | 24 | -112 | -118 |
| Net Income | - | 248 | 24 | -112 | -118 |
| Net Income Common Stockholders | - | 248 | 24 | -112 | -118 |
| Net Income Including Noncontrolling Interests | - | 254 | 30 | -110 | -115 |
| Normalized Income | - | 193.92 | 54.02 | -29.29 | -13.42 |
| Diluted NI Availto Com Stockholders | - | 248 | 24 | -112 | -118 |
| Basic Average Shares | - | 58 | 59.20 | 59.30 | 60.20 |
| Diluted Average Shares | - | 61 | 60.70 | 59.30 | 60.20 |
| Reconciled Depreciation | - | 285 | 304 | 319 | 321 |
| Reconciled Cost Of Revenue | - | 24,746 | 26,141 | 26,779 | 27,562 |
| Total Unusual Items | - | 66 | -38 | -103 | -140 |
| Total Unusual Items Excluding Goodwill | - | 66 | -38 | -103 | -140 |
| Minority Interests | - | -6 | -6 | -2 | -3 |
| Net Income Discontinuous Operations | 6 | 0 | 0 | - | - |
| Special Income Charges | - | 66 | -38 | -103 | -140 |
| Other Special Charges | - | 7 | 3 | 10 | 4 |
| Impairment Of Capital Assets | 0 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | - | 21 | 8 | 36 | 94 |
| General And Administrative Expense | -85 | -40 | -29 | - | - |
| Salaries And Wages | -85 | -40 | -29 | - | - |
| Gain On Sale Of Ppe | - | 87 | -30 | -57 | -42 |
| Total Other Finance Cost | - | 12 | 10 | 9 | 6 |
| Other Operating Expenses | - | 3,825 | 3,973 | 4,100 | 4,117 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| United Natural Foods, Inc.this co. | UNFI | $3.2B | -27.35 | 2.08 | -7.6% | 21.68 |
| Cal-Maine Foods, Inc. | CALM | $3.5B | 2.89 | 1.38 | 47.6% | 1.26 |
| National Beverage Corp. | FIZZ | $3.3B | 17.41 | 7.33 | 42.1% | 12.21 |
| The Chefs' Warehouse, Inc. | CHEF | $3.2B | 43.70 | 5.23 | 12.0% | 17.99 |
| Tootsie Roll Industries, Inc. | TR |
| - |
| - |
| - |
| - |
| - |
| - |
| $2.9B |
| 28.60 |
| 3.04 |
| 10.6% |
| 17.22 |
| Interparfums, Inc. | IPAR | $2.8B | 16.90 | 3.23 | 19.1% | 9.53 |
| The Andersons, Inc. | ANDE | $2.5B | 25.96 | 2.00 | 7.7% | 10.35 |
| Central Garden & Pet Company | CENT | $2.5B | 15.21 | 1.56 | 10.3% | 8.44 |
| Freshpet, Inc. | FRPT | $2.4B | 17.38 | 2.00 | 11.5% | 15.10 |
| Peer Median | - | 17.40 | 2.52 | 11.7% | 11.28 | |