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Food distribution · Consumer Defensive · Fiscal year ends Jul 31
United Natural Foods reported revenue of $31.2B in the fiscal year ended Aug 2026, down 2.0% from the year before. Operating income was $211M, an operating margin of 0.7%, and net income was $84M. Operating cash flow of $540M less capital expenditure of $217M left free cash flow of $323M. Net debt was $1.5B.
Ranks among the 6 food distribution companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jul 2022 | Jul 2023 | Aug 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|
| Revenue | 28,928 | 30,272 | 30,980 | 31,784 | 31,152 |
| Cost of revenue | 24,746 | 26,141 | 26,779 | 27,562 | 26,956 |
| Gross profit | 4,182 | 4,131 | 4,201 | 4,222 | 4,196 |
| Operating income | 423 | 120 | 8.0 | −31.0 | 211 |
| Interest expense | 155 | 144 | 162 | 146 | 126 |
| Pre-tax income | 310 | 7.0 | −137 | −154 | 102 |
| Income tax | 56.0 | −23.0 | −27.0 | −39.0 | 18.0 |
| Net income | 248 | 24.0 | −112 | −118 | 84.0 |
| Diluted EPS | 4.07 | 0.40 | −1.89 | −1.95 | 1.34 |
| Diluted shares | 61.0 | 60.7 | 59.3 | 60.2 | 62.8 |
| Fiscal year | Jul 2022 | Jul 2023 | Aug 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 44.0 | 37.0 | 40.0 | 44.0 | 37.0 |
| Receivables | 1,213 | 887 | 936 | 1,062 | 889 |
| Inventory | 2,355 | 2,292 | 2,179 | 2,095 | 1,946 |
| Current assets | 3,797 | 3,463 | 3,402 | 3,423 | 3,138 |
| Net PP&E | 1,690 | 1,767 | 1,820 | 1,749 | 1,716 |
| Goodwill | 20.0 | 20.0 | 19.0 | 19.0 | 19.0 |
| Total assets | 7,628 | 7,394 | 7,528 | 7,595 | 7,109 |
| Payables | 1,742 | 1,781 | 1,688 | 1,875 | 1,771 |
| Current liabilities | 2,417 | 2,405 | 2,365 | 2,602 | 2,438 |
| Short-term debt | 14.0 | 7.0 | 4.0 | 3.0 | 2.0 |
| Long-term debt | 2,109 | 1,956 | 2,081 | 1,859 | 1,561 |
| Total liabilities | 5,836 | 5,650 | 5,887 | 6,041 | 5,487 |
| Shareholders' equity | 1,791 | 1,743 | 1,641 | 1,551 | 1,621 |
| Fiscal year | Jul 2022 | Jul 2023 | Aug 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 331 | 624 | 253 | 470 | 540 |
| Capital expenditure | 251 | 323 | 345 | 231 | 217 |
| Free cash flow | 80.0 | 301 | −92.0 | 239 | 323 |
| Depreciation & amortisation | 285 | 304 | 319 | 321 | 303 |
| Stock-based compensation | 44.0 | 38.0 | 39.0 | 43.0 | 61.0 |
| Share buybacks | 0.0 | 62.0 | 0.0 | 0.0 | 50.0 |
| Fiscal year | Jul 2022 | Jul 2023 | Aug 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 4.6% | 2.3% | 2.6% | −2.0% |
| Operating income growth (YoY) | – | −71.6% | −93.3% | −487.5% | – |
| EPS growth (YoY) | – | −90.2% | −572.5% | – | – |
| Gross margin | 14.5% | 13.6% | 13.6% | 13.3% | 13.5% |
| Operating margin | 1.5% | 0.4% | 0.0% | −0.1% | 0.7% |
| Net margin | 0.9% | 0.1% | −0.4% | −0.4% | 0.3% |
| Return on equityBlank when equity is negative | 13.8% | 1.4% | −6.8% | −7.6% | 5.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.1% | 2.4% | 0.2% | −0.6% | 4.5% |
| Free cash flow margin | 0.3% | 1.0% | −0.3% | 0.8% | 1.0% |
| Cash conversion (CFO ÷ net income) | 1.33x | 26.0x | −2.26x | −3.98x | 6.43x |
| Receivable days | 15 | 11 | 11 | 12 | 10 |
| Inventory days | 35 | 32 | 30 | 28 | 26 |
| Payable days | 26 | 25 | 23 | 25 | 24 |
| Interest cover | 2.73x | 0.83x | 0.05x | −0.21x | 1.67x |
| Debt ÷ equity | 1.19x | 1.13x | 1.27x | 1.20x | 0.96x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,079 | 1,926 | 2,045 | 1,818 | 1,526 |
| Current ratio | 1.57x | 1.44x | 1.44x | 1.32x | 1.29x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.