UNFINYSEWholesale-Groceries, General LineFiscal year ends July 31
UNITED NATURAL FOODS INC
Financials through Q4 FY2026, quarter ended Aug 1, 2026Last filing: 10-K on Sep 14, 2026
$46.25−1.54 (-3.22%)
Close on Oct 19, 2026
- Market cap
- $2.92B
- P/E (TTM)
- 34.5
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
13.5%−1.1 pts over 5 years
Operating margin
0.7%−0.4 pts over 5 years
Net margin
0.3%−0.3 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.0% | +1.0% | +2.9% | +13.9% | |
| Gross profit | -0.6% | +0.5% | +1.3% | +12.6% | |
| Operating income | – | +20.7% | -6.4% | -0.6% | |
| Net income | – | +51.8% | -10.8% | -4.0% | |
| EPS, diluted | – | +49.6% | -11.6% | – | |
| Free cash flow | +35.1% | +2.4% | +1.2% | +2.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 8.1% | 11.2% | 5.3% | |
| Return on assets | 4.5% | 2.0% | 1.1% | |
| Current ratio | 2.36 | 1.43 | 1.29 | |
| Debt to equity | 0.10 | 1.44 | – | |
| Net debt to EBITDA | 0.47× | 3.71× | – | |
| Interest coverage | 13.5× | 1.4× | 1.7× | |
| Inventory turnover | 7.6× | 10.2× | 13.3× | |
| Capex to revenue | 0.6% | 1.2% | 0.7% | |
| Diluted shares | 51M | 60M | 63M |
Where the cash went
Fiscal 2022 to 2026, five years combined
United Natural Foods generated $2.22B from operations and spent $1.48B on capital expenditure, dividends and share buybacks. 92% of that went back into the business.
Generated
$2.22B
Used
$1.48B
Capital expenditure$1.37B92%Dividends$00%Share buybacks$112.00M8%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.3%
×Asset turnover4.24×
×Equity multiplier4.64×
=Return on equity, FY20265.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | 0.3% | 4.24× | 4.64× | 5.3% |
| FY2025 | -0.4% | 4.20× | 4.74× | -7.4% |
| FY2024 | -0.4% | 4.15× | 4.41× | -6.6% |
| FY2023 | 0.1% | 4.03× | 4.25× | 1.4% |
| FY2022 | 0.9% | 3.82× | 4.58× | 15.0% |
| FY2021 | 0.6% | 3.57× | 5.68× | 11.2% |
| FY2020 | -1.0% | 3.60× | 5.57× | -20.7% |
| FY2019 | -1.3% | 4.41× | 3.02× | -17.0% |
| FY2018 | 1.6% | 3.50× | 1.66× | 9.2% |
| FY2017 | 1.4% | 3.23× | 1.79× | 8.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero$84.00M
- Cash generatingOperating cash flow above zero$540.00M
- Return on assets improvedROA up on the prior year-1.6% → 1.1%
- Earnings backed by cashOperating cash flow above net income$540.00M vs $84.00M
- Less leverageLong-term debt to assets fell24.5% → –
- Better liquidityCurrent ratio rose1.32 → 1.29
- No dilutionShare count did not rise60M → 63M
- Gross margin improvedGross margin up on the prior year13.28% → 13.47%
- More efficientAsset turnover rose4.22 → 4.10