Unifirst (UNF) financial statements
Unifirst reported revenue of $2.4B in fiscal 2025, up 5.8% a year over 9 years.
Net income was $148M and the operating margin 7.6%, against 13.7% in 2016.
Free cash flow was $143M, and the company returned $25M in dividends and $71M in net buybacks.
The diluted share count fell 8% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Unifirst's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5B | $1.6B | $1.7B | $1.8B | $1.8B | $1.8B | $2.0B | $2.2B | $2.4B | $2.4B |
| Cost of revenue | $900M | $994M | $1.1B | $1.1B | $1.2B | $1.1B | $1.3B | $1.5B | $1.6B | $1.5B |
| Gross profit | $568M | $597M | $640M | $670M | $639M | $685M | $694M | $752M | $848M | $890M |
| Selling, general and admin | $285M | $342M | $361M | $335M | $362M | $383M | $451M | $497M | $523M | $565M |
| Operating income | $201M | $110M | $182M | $232M | $173M | $196M | $134M | $134M | $184M | $184M |
| Interest expense | $927,000 | — | — | — | — | — | — | — | — | — |
| Pre-tax income | $203M | $115M | $187M | $238M | $178M | $197M | $134M | $139M | $189M | $195M |
| Income tax | $78M | $45M | $23M | $59M | $42M | $46M | $31M | $35M | $44M | $47M |
| Net income | $125M | $70M | $164M | $179M | $136M | $151M | $103M | $104M | $145M | $148M |
| EPS (diluted) | $6.17 | $3.44 | $8.21 | $9.33 | $7.13 | $7.94 | $5.46 | $5.53 | $7.77 | $7.98 |
| Diluted shares | 20M | 20M | 20M | 19M | 19M | 19M | 19M | 19M | 19M | 19M |
| Gross margin | 38.7% | 37.5% | 37.7% | 37.0% | 35.4% | 37.5% | 34.7% | 33.7% | 34.9% | 36.6% |
| Operating margin | 13.7% | 6.9% | 10.8% | 12.8% | 9.6% | 10.7% | 6.7% | 6.0% | 7.6% | 7.6% |
| Net margin | 8.5% | 4.4% | 9.7% | 9.9% | 7.5% | 8.3% | 5.2% | 4.6% | 6.0% | 6.1% |
Balance sheet
Fiscal years, from Unifirst's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $364M | $350M | $271M | $385M | $475M | $513M | $376M | $90M | $175M | $209M |
| Receivables | $157M | $187M | $201M | $203M | $191M | $208M | $249M | $279M | $279M | $285M |
| Inventory | $79M | $79M | $90M | $101M | $106M | $144M | $151M | $148M | $157M | $145M |
| Total current assets | $778M | $814M | $785M | $914M | $969M | $1.1B | $1.1B | $840M | $916M | $925M |
| Property, plant and equipment | $540M | $525M | $548M | $575M | $582M | $618M | $665M | $757M | $802M | $830M |
| Goodwill | $321M | $376M | $397M | $401M | $425M | $430M | $457M | $648M | $649M | $658M |
| Total assets | $1.7B | $1.8B | $1.8B | $2.0B | $2.2B | $2.4B | $2.4B | $2.6B | $2.7B | $2.8B |
| Total current liabilities | $153M | $178M | $198M | $190M | $210M | $255M | $244M | $267M | $281M | $290M |
| Total liabilities | $337M | $366M | $378M | $406M | $458M | $508M | $512M | $566M | $588M | $609M |
| Shareholders' equity | $1.4B | $1.5B | $1.5B | $1.6B | $1.7B | $1.9B | $1.9B | $2.0B | $2.1B | $2.2B |
| Net debt | -$364M | -$350M | -$271M | — | — | -$513M | -$376M | -$79M | -$162M | -$204M |
Cash flow
Fiscal years, from Unifirst's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $208M | $218M | $230M | $282M | $287M | $212M | $123M | $216M | $295M | $297M |
| Capital spending | $98M | $109M | $113M | $120M | $117M | $134M | $144M | $172M | $160M | $154M |
| Free cash flow | $109M | $110M | $117M | $162M | $170M | $79M | -$22M | $44M | $135M | $143M |
| Stock-based compensation | $6M | $12M | $5M | $6M | $6M | $7M | $9M | $9M | $10M | $12M |
| Dividends paid | $3M | $3M | $4M | $8M | $16M | $18M | $21M | $22M | $23M | $25M |
| Share buybacks (net) | $0 | $0 | -$146M | -$31M | -$22M | -$11M | -$44M | $0 | -$24M | -$71M |
| Net borrowing | -$1M | $0 | $0 | — | — | — | — | — | — | — |
| Free cash flow margin | 7.5% | 6.9% | 6.9% | 9.0% | 9.4% | 4.3% | -1.1% | 2.0% | 5.6% | 5.9% |
| Dividends per share | $0.14 | $0.14 | $0.21 | $0.43 | $0.82 | $0.95 | $1.10 | $1.18 | $1.25 | $1.33 |
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Open UNF in InvestinglyQuestions
What was Unifirst's revenue in 2025?
$2.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Unifirst generate?
$143M in fiscal 2025 (operating cash flow minus capital spending).
From Unifirst's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.