Is the business good?
How good a business is CHEF?
The Chefs' Warehouse, Inc. earns 9.9% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
9.9%
Return on invested capital · cost of capital 9.0% · 0.94 points above what the capital costs: growth creates value
- Operating margin
- 3.6%
Operating margin · Food Distribution median 3.3% · 12 months to Q1 2026
- Cash conversion
- 1.02×
Cash conversion · 1.99× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.03%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | −9.2% |
| FY2021 | 0.62% |
| FY2022 | 3.3% |
| FY2023 | 2.9% |
| FY2024 | 3.4% |
| FY2025 | 3.5% |
Details›
- Gross margin12 months to Q1 2026
- 24%
- Operating margin12 months to Q1 2026
- 3.6%
- Net margin12 months to Q1 2026
- 1.9%
- Free cash flow margin
- 1.9%
- Revenue, trailing twelve months
- $4.26B
- Free cash flow, trailing twelve months
- $81M
- Net income, trailing twelve months
- $79M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 9.9%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.