United Natural Foods Inc Stock Research

Market Summary

USD24.82+1.90

Market Closed

8.29%

UNFI Alerts

Big fall in earnings (Y/Y)

UNFI Stock Price

UNFI RSI Chart

UNFI Valuation

Market Cap

1.5B

Price/Earnings (Trailing)

7.74

Price/Sales (Trailing)

0.05

EV/EBITDA

5.75

Price/Free Cashflow

5.65

UNFI Price/Sales (Trailing)

UNFI Profitability

EBT Margin

0.82%

Return on Equity

10.35%

Return on Assets

2.5%

Free Cashflow Yield

17.71%

UNFI Fundamentals

UNFI Revenue

Revenue (TTM)

29.9B

Revenue Y/Y

5.39%

Revenue Q/Q

3.77%

UNFI Earnings

Earnings (TTM)

191.0M

Earnings Y/Y

-71.21%

Earnings Q/Q

-71.21%

Price Action

52 Week Range

22.0749.56

(Low)(High)

Last 7 days

4.1%

Last 30 days

-39.6%

Last 90 days

-37.5%

Trailing 12 Months

-41.6%

UNFI Financial Health

Current Ratio

1.56

Debt/Equity

1.35

Debt/Cashflow

0.22

UNFI Investor Care

Shares Dilution (1Y)

2.41%

Diluted EPS (TTM)

3.11

Peers (Alternatives to United Natural Foods)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
WMT	390.8B	600.1B	1.61%	2.11%	43.36	0.65	4.92%	10.07%
COST	218.8B	234.4B	0.94%	-10.79%	36.15	0.93	13.76%	13.92%
SYY	38.6B	73.6B	0.28%	-4.32%	27.18	0.52	21.14%	80.80%
KR	34.8B	146.5B	11.15%	-13.40%	14.72	0.24	8.04%	132.09%
ACI	10.9B	76.8B	-1.12%	-16.56%	6.55	0.14	9.24%	62.45%
BJ	10.1B	18.7B	2.30%	17.22%	20.58	0.54	15.30%	18.31%
MID-CAP
USFD	8.1B	34.1B	-5.31%	-3.40%	30.43	0.24	15.50%	61.59%
SFM	3.6B	6.4B	11.30%	3.74%	13.71	0.56	4.99%	6.97%
GO	2.8B	3.6B	0.50%	-14.29%	42.33	0.77	16.19%	4.40%
WMK	2.3B	4.7B	2.99%	14.69%	18.04	0.48	11.16%	15.02%
SMALL-CAP
UNFI	1.5B	29.9B	-39.57%	-41.56%	7.74	0.05	7.50%	-18.03%
ANDE	1.4B	17.3B	-10.26%	-25.03%	10.52	0.08	37.37%	26.06%
CHEF	1.3B	2.6B	-1.58%	0.79%	45.97	0.49	49.70%	663.68%
SPTN	858.7M	9.6B	-9.67%	-28.52%	24.88	0.09	7.97%	-53.20%
NGVC	252.6M	1.1B	1.09%	-39.52%	14.98	0.23	2.34%	-34.82%

Financials for United Natural Foods

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	1.4%	29,863	29,463	28,928	28,390	27,779
Gross Profit	-0.1%	4,230	4,236	4,182	4,133	4,091
Operating Expenses	1.5%	3,951	3,893	3,825	3,796	3,695
EBITDA	-8.4%	683	746	750	755	-
EBITDA Margin	-9.7%	0.02*	0.03*	0.03*	0.03*	-
Earnings Before Taxes	-20.3%	244	306	310	309	278
EBT Margin	-21.3%	0.01*	0.01*	0.01*	0.01*	-
Interest Expenses	-3.3%	145	150	155	161	168
Net Income	-19.7%	191	238	248	252	233
Net Income Margin	-20.8%	0.01*	0.01*	0.01*	0.01*	-
Free Cahsflow	333.9%	262	-112	80.00	-56.44	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-6.9%	7,635	8,199	7,628	7,878	7,801
Current Assets	-14.2%	3,741	4,360	3,797	3,980	3,864
Cash Equivalents	2.6%	40.00	39.00	44.00	48.00	45.00
Inventory	-8.9%	2,512	2,756	2,355	2,559	2,426
Net PPE	2.1%	1,719	1,684	1,690	1,638	1,764
Goodwill	0%	20.00	20.00	20.00	20.00	20.00
Liabilities	-9.0%	5,790	6,364	5,836	6,094	6,118
Current Liabilities	-6.6%	2,396	2,565	2,417	2,389	2,555
Long Term Debt	17.8%	2,485	2,109	2,377	2,309	-
LT Debt, Non Current	-	2,109	-	-	-	-
Shareholder's Equity	0.5%	1,845	1,835	1,791	1,785	1,683
Retained Earnings	1.5%	1,311	1,292	1,226	1,187	1,120
Additional Paid-In Capital	1.5%	592	583	608	599	596
Shares Outstanding	-0.5%	60.00	60.00	58.00	58.00	58.00
Minority Interest	Infinity%	3.00	-	1.00	-1.00	-1.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	272.0%	558	150	331	247	450
Share Based Compensation	-2.2%	44.00	45.00	44.00	45.00	45.00
Cashflow From Investing	-117.2%	-63.00	-29.00	-49.00	-81.00	-316
Cashflow From Financing	-294.5%	-501	-127	-279	-159	-130
Buy Backs	20.8%	58.00	48.00	0.00	-	-

Risks for UNFI

What is the probability of a big loss on UNFI?

92.7%

Probability that United Natural Foods stock will be more than 20% underwater in next one year

67.7%

Probability that United Natural Foods stock will be more than 30% underwater in next one year.

45.4%

Probability that United Natural Foods stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does UNFI drawdown profile look like?

Y-axis is the maximum loss one would have experienced if United Natural Foods was unfortunately bought at previous high price.

Drawdowns

Returns for UNFI

Cumulative Returns on UNFI

-6.6%

10-Year Cumulative Returns

-6.7%

7-Year Cumulative Returns

-10.3%

5-Year Cumulative Returns

43.4%

3-Year Cumulative Returns

What are the long-term rolling returns for UNFI?

FIve years rolling returns for United Natural Foods.

Annualized Returns

Which funds bought or sold UNFI recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	unchanged	-	135,360	1,207,330	0.01%
2023-03-17	American Portfolios Advisors	unchanged	-	-6,489	44,337	-%
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	added	1,545	15,653,600	16,546,600	0.02%
2023-03-06	Rockefeller Capital Management L.P.	unchanged	-	24,000	216,000	-%
2023-03-02	OLIVER LAGORE VANVALIN INVESTMENT GROUP	new	-	3,871	3,871	-%
2023-02-28	Voya Investment Management LLC	added	3.1	197,586	1,421,590	-%
2023-02-27	Parallax Volatility Advisers, L.P.	new	-	1,006	1,006	-%
2023-02-22	TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY	unchanged	-	75,000	664,000	0.01%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-61,000	-	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	added	128	77,781	127,781	-%

Latest Funds Activity

Are funds buying UNFI calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own UNFI

No. of Funds

UNFI Alerts

Big fall in earnings (Y/Y)

United Natural Foods News

Schedule 13G FIlings of United Natural Foods

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 10, 2023	dimensional fund advisors lp	7.5%	4,467,495	SC 13G/A
Feb 09, 2023	vanguard group inc	11.97%	7,160,905	SC 13G/A
Feb 09, 2023	kiltearn partners llp	3.59%	2,147,201	SC 13G/A
Jan 23, 2023	blackrock inc.	16.3%	9,757,603	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	6.7%	3,896,345	SC 13G/A
Feb 07, 2022	blackrock inc.	15.2%	8,816,181	SC 13G/A
Feb 16, 2021	dimensional fund advisors lp	7.3%	4,095,293	SC 13G/A
Feb 16, 2021	kiltearn partners llp	6.7%	3,734,339	SC 13G/A
Feb 10, 2021	vanguard group inc	10.78%	6,051,116	SC 13G/A
Jan 25, 2021	blackrock inc.	15.4%	8,621,444	SC 13G

UNFI Fair Value

United Natural Foods fair value in different scenarios

The table shows the Fair Value estimates for United Natural Foods for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	89.23 259.51%	113.41 356.93%	201.27 710.92%	610.23 2358.62%	1017.85 4000.93%
Current Inflation	82.78 233.52%	103.77 318.09%	179.74 624.17%	532.31 2044.68%	881.10 3449.96%
Very High Inflation	74.70 200.97%	91.96 270.51%	154.02 520.55%	441.19 1677.56%	722.40 2810.56%

Historical United Natural Foods Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of United Natural Foods

View All Filings

Date Filed	Form Type	Document
Mar 27, 2023	4	Insider Trading
Mar 24, 2023	3	Insider Trading
Mar 23, 2023	4	Insider Trading
Mar 23, 2023	8-K	Current Report
Mar 22, 2023	8-K	Current Report
Mar 14, 2023	4	Insider Trading
Mar 08, 2023	10-Q	Quarterly Report
Mar 08, 2023	8-K	Current Report
Feb 10, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report

Latest Insider Trading transactions for UNFI

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-22	Martin Louis Anthony	sold (taxes)	-59,469	23.05	-2,580	president, wholesale
2023-03-11	Echols Matthew T	sold (taxes)	-59,521	27.71	-2,148	ccao
2023-02-06	Howard John W	sold	-298,340	42.62	-7,000	cfo
2023-01-23	Benedict Danielle	sold	-300,450	40.06	-7,500	chief human resources officer
2023-01-23	TESTA CHRISTOPHER P.	sold	-1,132,390	40.5424	-27,931	president
2022-12-19	Esper Richard Eric	sold	-199,500	38.00	-5,250	chief accounting officer
2022-12-11	Esper Richard Eric	sold (taxes)	-169,583	38.7	-4,382	chief accounting officer
2022-10-12	Dorne Eric A.	sold (taxes)	-307,991	36.44	-8,452	coo
2022-10-12	Howard John W	sold (taxes)	-263,170	36.44	-7,222	cfo
2022-10-12	Benedict Danielle	sold (taxes)	-140,549	36.44	-3,857	chief human resources officer

About United Natural Foods

J. Alexander M. Douglas

www.unfi.com

28300

United Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It operates in two segments, Wholesale and Retail. The company offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care items. It also provides Woodstock brand imports, roasts, packages, and distributes nuts, dried fruits, seeds, trail mixes, granola, natural and organic snack items, and confections. In addition, the company is involved in importing, roasting, packaging, and distributing nuts, dried fruits, seeds, trail mixes, granola, natural and organic snack items, and confections. Further, it offers Blue Marble Brands products through wholesale segment, third-party distributors, and directly to retailers; and Field Day brand products primarily to customers through its independent channel. Additionally, the company provides general merchandise, home, health and beauty care, and pharmacy products, as well as private label products through a network of 74 Cub Foods and Shoppers retail grocery stores; professional services, such as retail store support, advertising, couponing, e-commerce, consumer convenience services, store design, equipment sourcing, electronic payments processing, network and data hosting solutions, and administrative back-office solutions; and marketing services comprising consumer and trade marketing programs, as well as programs to support suppliers in understanding its markets. The company serves chains, independent retailers, and supernatural chains, as well as foodservice, e-commerce, conventional military business, and other sales customers. United Natural Foods, Inc. was founded in 1976 and is headquartered in Providence, Rhode Island.

UNFI Income Statement

2023-01-28

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 28, 2023	Jan. 29, 2022
Income Statement [Abstract]
Net sales	$ 7,816	$ 7,416	$ 15,348	$ 14,413
Cost of sales	6,747	6,341	13,183	12,296
Gross profit	1,069	1,075	2,165	2,117
Operating expenses	1,002	944	2,002	1,876
Restructuring, acquisition and integration related expenses	3	5	5	8
Loss (gain) on sale of assets	1	1	(4)	1
Operating income	63	125	162	232
Net periodic benefit income, excluding service cost	(7)	(10)	(14)	(20)
Interest expense, net	39	44	74	84
Other income, net	0	(2)	(1)	(1)
Income before income taxes	31	93	103	169
Provision for income taxes	9	25	14	24
Net income including noncontrolling interests	22	68	89	145
Less net income attributable to noncontrolling interests	(3)	(2)	(4)	(3)
Net income attributable to United Natural Foods, Inc.	$ 19	$ 66	$ 85	$ 142
Earnings Per Share
Basic earnings per share (in dollars per share)	$ 0.32	$ 1.13	$ 1.43	$ 2.47
Diluted earnings per share (in dollars per share)	$ 0.31	$ 1.08	$ 1.38	$ 2.33
Weighted average shares outstanding:
Basic (in shares)	59.8	58.3	59.3	57.6
Diluted (in shares)	61.0	61.0	61.3	61.0

UNFI Balance Sheet

2023-01-28

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Millions	Jan. 28, 2023	Jul. 30, 2022
ASSETS
Cash and cash equivalents	$ 40	$ 44
Accounts receivable, net	992	1,214
Inventories, net	2,512	2,355
Prepaid expenses and other current assets	197	184
Total current assets	3,741	3,797
Property and equipment, net	1,719	1,690
Operating lease assets	1,218	1,176
Goodwill	20	20
Intangible assets, net	783	819
Other long-term assets	154	126
Total assets	7,635	7,628
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	1,797	1,742
Accrued expenses and other current liabilities	249	260
Accrued compensation and benefits	166	232
Current portion of operating lease liabilities	161	156
Current portion of long-term debt and finance lease liabilities	23	27
Total current liabilities	2,396	2,417
Long-term debt	2,065	2,109
Long-term operating lease liabilities	1,107	1,067
Long-term finance lease liabilities	18	23
Pension and other postretirement benefit obligations	18	18
Deferred income taxes	14	8
Other long-term liabilities	172	194
Total liabilities	5,790	5,836
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, authorized 5.0 shares; none issued or outstanding	0	0
Common stock, $0.01 par value, authorized 100.0 shares; 60.9 shares issued and 59.6 shares outstanding at January 28, 2023; 58.9 shares issued and 58.3 shares outstanding at July 30, 2022	1	1
Additional paid-in capital	592	608
Treasury stock at cost	(53)	(24)
Accumulated other comprehensive loss	(9)	(20)
Retained earnings	1,311	1,226
Total United Natural Foods, Inc. stockholders’ equity	1,842	1,791
Noncontrolling interests	3	1
Total stockholders’ equity	1,845	1,792
Total liabilities and stockholders’ equity	$ 7,635	$ 7,628