PFGC vs UNFI: Performance Food Group and United Natural Foods compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Performance Food Group is the larger company, worth $14.4B, about 5.5 times United Natural Foods.
- Performance Food Group grew revenue faster over the last year (+6.4% vs -0.7%).
- Performance Food Group keeps more of each dollar of revenue as operating profit (1.3% vs 0.7%).
- Performance Food Group's price assumes faster free cash flow growth: about 0% a year, against -7% for United Natural Foods (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | PFGC | UNFI |
|---|---|---|
| Market cap | $14.4B | $2.6B |
| Share price | $93.48 | $44.51 |
| Revenue (last fiscal year) | $67.8B | $31.2B |
| Free cash flow (last fiscal year) | $1.0B | $323M |
| Revenue growth, last year | +6.4% | -0.7% |
| Revenue growth per year, last 5 fiscal years | +7.4% | +1.9% |
| Operating margin | 1.3% | 0.68% |
| Net margin | 0.53% | 0.27% |
| Return on equity | 7.3% | 5.2% |
| P/E (trailing) | 43.6x | — |
| Price / free cash flow | 20.4x | 10.9x |
| EV / EBITDA | 13.0x | 11.1x |
| FCF growth the price implies | 0.29% | -7.1% |
| Dividend yield | — | — |
| Debt / equity | 2.85x | 3.38x |
| Fundamental grade | C | D |
| Superinvestors holding it | 8 | 4 |
| Insider purchases, last 12 months | 2 | 2 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Performance Food Group
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $50.9B | $61M | 0.64% |
| 2023 | $57.3B | $562M | 1.3% |
| 2024 | $58.3B | $767M | 1.4% |
| 2025 | $63.3B | $704M | 1.3% |
| 2026 | $67.8B | $1.0B | 1.3% |
United Natural Foods
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2022 | $28.9B | $80M | 1.5% |
| 2023 | $30.3B | $301M | 0.40% |
| 2024 | $31.0B | -$92M | 0.03% |
| 2025 | $31.8B | $239M | -0.10% |
| 2026 | $31.2B | $323M | 0.68% |
Where the revenue comes from
Performance Food Group · by segments, 2026
Foodservice$36.5B54%
Convenience$26.0B38%
Specialty$5.1B7%
Corporate & All Other$275M0%
United Natural Foods · by segments, 2026
Natural$17.1B55%
Conventional$11.9B38%
Retail$2.2B7%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open PFGC in InvestinglyQuestions
Which is bigger, Performance Food Group or United Natural Foods?
Performance Food Group (PFGC), at $14.4B against $2.6B.
Which grows faster, PFGC or UNFI?
Performance Food Group: revenue grew +6.4% over the last year, against -0.7%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.