US Foods Holding Corp. (USFD) stock analysis
Close on Nov 11, 2026Market cap $23.74BP/E 30.7Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed11 of 30 checks passed
US Foods passes 11 of the 30 checks behind our score; 8 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 1/6
- Growth
- 2/6
- Past performance
- 4/6
- Financial health
- 4/6
- Dividend
- 0/6
What stands out
Return on capital over 10%
Return on invested capital was 10.9%, above the 10% that usually covers the cost of capital.
EPS growing 10%+ a year
Diluted EPS grew 42.8% a year over the last three fiscal years.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 28.5% of total debt.
Low bankruptcy risk
The Altman Z-score is 4.90; above 3 is the safe zone and below 1.8 the distress zone.
What to watch
Margin of safety under 20%
The price is 28.0% above fair value, so there is no margin of safety.
Trading above fair value
The share price of $109.75 is above our fair value estimate of $85.73.
Return on equity under 15%
Return on equity was 18.0% over the last twelve months and averaged 9.8% over five years; we look for 15% on both.
High debt
Debt is 118% of shareholders' equity, above the 40% we consider low.
Valuation1/6
P/E below its 5-year median
US Foods's P/E of 30.7 is below its own 5-year median of 31.9.
P/E above the industry
US Foods's P/E of 30.7 is above the Groceries and Related Products median of 27.7.
EV/EBITDA above its 5-year median
US Foods's EV/EBITDA of 15.8 is above its 5-year median of 13.8.
P/B above the industry
US Foods's price-to-book of 5.48 is above the Groceries and Related Products median of 3.47.
Trading above fair value
The share price of $109.75 is above our fair value estimate of $85.73.
Margin of safety under 20%
The price is 28.0% above fair value, so there is no margin of safety.
Growth2/6
Revenue growing under 10% a year
Revenue grew 5.0% a year over the last three fiscal years, short of the 10% we look for.
EPS growing 10%+ a year
Diluted EPS grew 42.8% a year over the last three fiscal years.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew 3.1% over the last twelve months; the Groceries and Related Products median is 5.2%.
Guidance unchanged
The latest outlook (Fiscal Year 2026 Net Sales growth, Aug 6, 2026) was maintained, so it neither adds nor takes away points.
Gross margin improving
Gross margin was 17.8% over the last twelve months, against 17.4% a year earlier.
Past performance4/6
Return on equity under 15%
Return on equity was 18.0% over the last twelve months and averaged 9.8% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 10.9%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
US Foods's return on equity of 18.0% is above the Groceries and Related Products median of 7.2%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 2.0% over the last twelve months, against a 5-year average of 1.2%.
Net margin above the industry
US Foods's net margin of 2.0% is above the Groceries and Related Products median of 1.0%.
Financial health4/6
High debt
Debt is 118% of shareholders' equity, above the 40% we consider low.
Debt falling against equity
Debt to equity fell from 163% five years ago to 118%.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 28.5% of total debt.
Interest not well covered
Operating income covers interest expense 4.4 times; we look for at least 5.
Short-term assets cover short-term debts
Current assets are 1.11 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 4.90; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
US Foods has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$85.73
The share price is 28% above this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 29.8× | 31.9× | 27.7× | $106.78 | 40% |
| EV/EBITDA | 13.1× | 13.8× | 12.3× | $87.20 | 35% |
| P/B | 3.1× | 2.7× | 3.5× | $61.48 | 10% |
| Earnings power | 9.5% cost of equity | – | – | $42.35 | 15% |
| Fair value | $85.73 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 31.9
- Groceries and Related Products median 27.7
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $239.54M
- Value traded per 1% price move
- $187.57M
Downside
Low risk
- Typical loss in a bad month
- 13.9%
- Volatility (annualized)
- 32%
- Sharpe ratio, 1 year
- 1.50
- Beta to the S&P 500 (5Y)
- 0.93
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +4.1% | +5.0% | +11.5% | +5.5% | |
| Gross profit | +5.1% | +7.7% | +13.0% | +5.5% | |
| Operating income | +9.1% | +26.4% | – | +20.2% | |
| Net income | +36.8% | +36.6% | – | +15.0% | |
| EPS, diluted | +45.5% | +42.8% | – | +11.6% | |
| Free cash flow | +15.1% | +24.2% | +33.8% | +10.0% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.5% | -6.2% | 15.3% | |
| Return on assets | 2.3% | -1.9% | 4.9% | |
| Current ratio | 1.42 | 1.75 | 1.16 | |
| Debt to equity | 1.49 | 1.63 | 1.21 | |
| Net debt to EBITDA | 4.35× | 14.26× | 3.11× | |
| Interest coverage | 1.8× | -0.3× | 3.9× | |
| Inventory turnover | 16.2× | 14.2× | 19.5× | |
| Capex to revenue | 0.7% | 0.8% | 1.0% | |
| Diluted shares | 204M | 220M | 230M |
Where the cash went
Fiscal 2021 to 2025, five years combined
US Foods generated $4.87B from operations and spent $3.78B on capital expenditure, dividends and share buybacks. 42% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 1.7% | 2.88× | 3.10× | 15.3% |
| FY2024 | 1.3% | 2.85× | 2.87× | 10.6% |
| FY2023 | 1.4% | 2.74× | 2.98× | 11.6% |
| FY2022 | 0.8% | 2.69× | 3.29× | 6.9% |
| FY2021 | 0.6% | 2.36× | 3.43× | 4.5% |
| FY2020 | -1.0% | 1.93× | 3.28× | -6.2% |
| FY2019 | 1.5% | 2.53× | 2.95× | 11.1% |
| FY2018 | 1.7% | 2.65× | 3.05× | 13.6% |
| FY2017 | 1.8% | 2.69× | 3.40× | 16.8% |
| FY2016 | 0.9% | 2.52× | 4.12× | 9.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$676.00M
- Cash generatingOperating cash flow above zero$1.37B
- Return on assets improvedROA up on the prior year3.7% → 5.0%
- Earnings backed by cashOperating cash flow above net income$1.37B vs $676.00M
- Less leverageLong-term debt to assets fell35.9% → 36.3%
- Better liquidityCurrent ratio rose1.21 → 1.16
- No dilutionShare count did not rise244M → 230M
- Gross margin improvedGross margin up on the prior year17.25% → 17.41%
- More efficientAsset turnover rose2.87 → 2.93
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