Is the business good?
How good a business is UNFI?
United Natural Foods, Inc. earns 1.6% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
1.6%
Return on invested capital · cost of capital 9.0% · 7.4 points below what the capital costs: growth destroys value
- Operating margin
- 0.21%
Operating margin · Food Distribution median 3.3% · 12 months to Q3 2026
- Share count, year on year
- +3.6%
Share count, year on year · shareholders own a smaller slice than a year ago
- Gross margin
- 13%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −0.73% |
| FY2021 | 1.1% |
| FY2022 | 1.5% |
| FY2023 | 0.40% |
| FY2024 | 0.03% |
| FY2025 | −0.10% |
Details›
- Gross margin12 months to Q3 2026
- 13%
- Operating margin12 months to Q3 2026
- 0.21%
- Net margin12 months to Q3 2026
- −0.12%
- Free cash flow margin
- 1.1%
- Revenue, trailing twelve months
- $31.2B
- Free cash flow, trailing twelve months
- $329M
- Net income, trailing twelve months
- −$38M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 1.6%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.