United Natural Foods (UNFI) financial statements
United Natural Foods reported revenue of $31.2B in fiscal 2026, up 14.4% a year over 9 years.
Net income was $84M and the operating margin 0.7%, against 2.4% in 2017.
Free cash flow was $323M, and the company returned $50M in net buybacks.
The diluted share count rose 24% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from United Natural Foods's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.3B | $10.2B | $22.3B | $26.6B | $26.9B | $28.9B | $30.3B | $31.0B | $31.8B | $31.2B |
| Cost of revenue | $7.8B | $8.7B | $19.1B | $22.7B | $23.0B | $24.7B | $26.1B | $26.8B | $27.6B | $27.0B |
| Gross profit | $1.4B | $1.5B | $3.2B | $3.9B | $3.9B | $4.2B | $4.1B | $4.2B | $4.2B | $4.2B |
| Operating income | $226M | $224M | -$196M | -$193M | $294M | $423M | $120M | $8M | -$31M | $211M |
| Interest expense | $17M | $16M | $181M | $192M | $204M | $155M | $144M | $162M | $146M | $126M |
| Pre-tax income | $214M | $210M | -$341M | -$342M | $183M | $310M | $7M | -$137M | -$154M | $102M |
| Income tax | $84M | $47M | -$59M | -$91M | $34M | $56M | -$23M | -$27M | -$39M | $18M |
| Net income | $130M | $163M | -$285M | -$274M | $149M | $248M | $24M | -$112M | -$118M | $84M |
| EPS (diluted) | $2.56 | $3.20 | -$5.56 | -$5.10 | $2.48 | $4.07 | $0.40 | -$1.89 | -$1.95 | $1.34 |
| Diluted shares | 51M | 51M | 51M | 54M | 60M | 61M | 61M | 59M | 60M | 63M |
| Gross margin | 15.4% | 14.9% | 14.4% | 14.6% | 14.6% | 14.5% | 13.6% | 13.6% | 13.3% | 13.5% |
| Operating margin | 2.4% | 2.2% | -0.9% | -0.7% | 1.1% | 1.5% | 0.4% | 0.0% | -0.1% | 0.7% |
| Net margin | 1.4% | 1.6% | -1.3% | -1.0% | 0.6% | 0.9% | 0.1% | -0.4% | -0.4% | 0.3% |
Balance sheet
Fiscal years, from United Natural Foods's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $15M | $23M | $44M | $47M | $41M | $44M | $37M | $40M | $44M | $37M |
| Receivables | $526M | $580M | $1.1B | $1.2B | $1.1B | $1.2B | $887M | $936M | $1.1B | $889M |
| Inventory | $1.0B | $1.1B | $2.2B | $2.3B | $2.2B | $2.4B | $2.3B | $2.2B | $2.1B | $1.9B |
| Total current assets | $1.7B | $1.8B | $3.6B | $3.7B | $3.5B | $3.8B | $3.5B | $3.4B | $3.4B | $3.1B |
| Property, plant and equipment | $602M | $571M | $1.9B | $1.7B | $1.8B | $1.7B | $1.8B | $1.8B | $1.7B | $1.7B |
| Goodwill | $371M | $362M | $442M | $20M | $20M | $20M | $20M | $19M | $19M | $19M |
| Total assets | $2.9B | $3.0B | $7.2B | $7.6B | $7.5B | $7.6B | $7.4B | $7.5B | $7.6B | $7.1B |
| Total current liabilities | $704M | $699M | $2.1B | $2.4B | $2.5B | $2.4B | $2.4B | $2.4B | $2.6B | $2.4B |
| Long-term debt | $150M | $138M | $3.0B | $2.6B | $2.2B | $2.1B | $2.0B | $2.1B | $1.9B | — |
| Total liabilities | $1.2B | $1.1B | $5.7B | $6.4B | $6.0B | $5.8B | $5.7B | $5.9B | $6.0B | $5.5B |
| Shareholders' equity | $1.7B | $1.8B | $1.5B | $1.1B | $1.5B | $1.8B | $1.7B | $1.6B | $1.6B | $1.6B |
| Net debt | $147M | $127M | $3.0B | $2.6B | $2.1B | $2.1B | $1.9B | $2.0B | $1.8B | -$35M |
Cash flow
Fiscal years, from United Natural Foods's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $273M | $109M | $285M | $457M | $614M | $331M | $624M | $253M | $470M | $540M |
| Capital spending | $56M | $45M | $228M | $173M | $310M | $251M | $323M | $345M | $231M | $217M |
| Free cash flow | $217M | $64M | $57M | $284M | $304M | $80M | $301M | -$92M | $239M | $323M |
| Stock-based compensation | $26M | $26M | $26M | $25M | $45M | $44M | $38M | $39M | $43M | $61M |
| Share buybacks (net) | $0 | -$24M | $0 | $0 | $0 | $0 | -$62M | $0 | $0 | -$50M |
| Net borrowing | -$12M | -$12M | $1.1B | -$120M | -$292M | -$376M | -$154M | -$191M | -$124M | -$167M |
| Free cash flow margin | 2.3% | 0.6% | 0.3% | 1.1% | 1.1% | 0.3% | 1.0% | -0.3% | 0.8% | 1.0% |
Questions
What was United Natural Foods's revenue in 2026?
$31.2B in fiscal 2026, from its 10-K filing.
How much free cash flow does United Natural Foods generate?
$323M in fiscal 2026 (operating cash flow minus capital spending).
From United Natural Foods's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.