UNFI
United Natural Foods, Inc.
UNFI's fundamentals are mixed, but it looks expensive: trading at 36x earnings, about three times its usual 11x. Analysts expect strong earnings growth.
UNFI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Stable | |
| Stable |
UNFI's profitability is currently healthy, and its revenue, cash flow and balance sheet are stable.
UNFI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 9.2x | $12.33 | -74% |
| Fair | 11x | $14.62 | -69% |
| Forward | 14x | $47.61 | — |
| Expensive | 18x | $23.81 | -50% |
| Current | 36x | $47.61 | — |
Historical ranges are pointers, not guarantees.
UNFI's PE is in its expensive range at 36x. If earnings grow as analysts expect, today's price would be 14x next year's earnings.
UNFI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect UNFI's earnings to grow, with its revenue and profitability holding steady.
UNFI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.51 | +162% |
| Q3 2026 | $1.34 | +$3.29 |
| Q2 2026 | -$0.66 | +$0.49 |
| Q1 2026 | -$1.30 | +$0.07 |
| Q4 2025 | -$1.66 | -$0.09 |
| Q3 2025 | -$1.95 | -$0.06 |
| Q2 2025 | -$1.15 | +$1.21 |
| Q1 2025 | -$1.37 | +$0.53 |
| Q4 2024 | -$1.57 | -$0.23 |
UNFI has returned to profit: it earned $1.34 per share over the past year, after losing money the year before.
UNFI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $7.6B | -0.7% |
| Q2 2026 | $7.7B | -4.2% |
| Q1 2026 | $7.9B | -2.6% |
| Q4 2025 | $7.8B | -0.4% |
| Q3 2025 | $7.7B | -5.6% |
| Q2 2025 | $8.1B | +7.5% |
| Q1 2025 | $8.2B | +4.9% |
| Q4 2024 | $7.9B | +4.2% |
UNFI's revenue grew through 2022 and has held roughly level since: $7.6B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0.9% | +1.9 points |
| Q2 2026 | 0.8% | +0.7 points |
| Q1 2026 | 0.7% | +0.4 points |
| Q4 2025 | 0.2% | +0.2 points |
| Q3 2025 | -1% | -1 points |
| Q2 2025 | 0.2% | +0.1 points |
| Q1 2025 | 0.3% | +0.1 points |
| Q4 2024 | 0.1% | +0.3 points |
UNFI's operating margin was 0.9% last quarter, up 1.9 points from the same quarter a year ago.
UNFI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $80M | -7% |
| Q2 2026 | $54M | -55% |
| Q1 2026 | $243M | +26% |
| Q4 2025 | -$54M | +$105M |
| Q3 2025 | $86M | +21% |
| Q2 2025 | $119M | +143% |
| Q1 2025 | $193M | +66% |
| Q4 2024 | -$159M | +$169M |
UNFI generated $323M in free cash flow over the past year, up 35% from the year before.
UNFI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +100K shares |
| 1 year | +4.3% | +2.6M shares |
| 3 years | +3.5% | +2.1M shares |
| 5 years | +4.7% | +2.8M shares |
| Available history | +18% | +9.6M shares |
UNFI has 63M diluted shares, up 4.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $21M |
| Q2 2026 | $4M |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | $21M |
| Q2 2023 | $12M |
UNFI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.0x | Moderate |
| Q2 2026 | 4.4x | High |
| Q1 2026 | 5.1x | High |
| Q4 2025 | 6.2x | High |
| Q3 2025 | 6.3x | High |
| Q2 2025 | 5.0x | High |
| Q1 2025 | 5.5x | High |
| Q4 2024 | 6.3x | High |
UNFI's net debt is about 3.0 years of its operating earnings (EBITDA), down from 6.3 years a year ago.
UNFI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 53.1 | Neutral |
| Stochastic | 46.5 | Neutral |
UNFI's weekly RSI is 53 (neutral) and its Stochastic is 46 (neutral).
UNFI PE vs Consumer Defensive Sector
| Metric | UNFI | Sector median | Relative |
|---|---|---|---|
| PE | 36x | 19x | 82% above |
| PE % | 95 | 18 | 77 pts above |
UNFI is trading at 36x earnings, a 82% premium to the Consumer Defensive sector's median of 19x.
UNFI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $46.2 | 3.1% above |
| 20 week MA | $46.9 | 1.5% above |
| 50 week MA | $44.3 | 7.4% above |
| 100 week MA | $36.9 | 29% above |
| 200 week MA | $28.1 | 69% above |
UNFI is in an uptrend: it's above all five of its weekly moving averages, and 69% above its 200-week average.
UNFI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $8.38 | $16.3 | +95% |
| 2021 | $16.3 | $49.2 | +201% |
| 2022 | $49.2 | $39.9 | -19% |
| 2023 | $39.9 | $16.2 | -59% |
| 2024 | $16.2 | $26.9 | +66% |
| 2025 | $26.9 | $33.4 | +24% |
| 2026 YTD | $33.4 | $47.6 | +43% |
UNFI's yearly returns have swung widely, from +201% in 2021 to −59% in 2023. It's up 43% so far in 2026.