A Business at a Glance
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Performance Food Group Co
PFGC
$17.4B
Mkt Cap
$111.49
+1.07%
Performance Food Group Co (PFGC) has a current P/E ratio of 50.4, compared to its historical median P/E of 27.2. The stock is currently considered Expensive based on its historical valuation range.
Performance Food Group Co (PFGC) has a 5-year average return on invested capital (ROIC) of 5.3%. This is below average and may indicate limited pricing power.
Performance Food Group Co (PFGC) has a market capitalization of $17.4B. It is classified as a large-cap stock.
Performance Food Group Co (PFGC) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.33%.
Based on historical P/E analysis, Performance Food Group Co (PFGC) appears expensive. The current P/E of 50.4 is 85% above its historical median of 27.2. The estimated fair value CAGR (P/E method) is 2.6%.
Performance Food Group Co (PFGC) operates in the Wholesale-Groceries, General Line industry, within the Consumer Defensive sector.
Performance Food Group Company markets and distributes more than 250,000 food and food-related products to over 300,000 customer locations across North America through 155 distribution centers, serving a diverse customer base including independent and chain restaurants, schools, hospitals, healthcare facilities, convenience stores, vending distributors, and theaters. The company operates three reportable segments: Foodservice, which offers custom-cut meat and seafood along with value-added services in product selection, menu development, and operational strategy to independent and chain customers through 89 distribution centers; Convenience, one of the largest wholesale consumer products and foodservice distributors in the convenience retail industry; and Specialty, a unique asset in food distribution with reach in the candy, snack, and beverage market. The company's business model emphasizes higher-margin Performance Brands products alongside nationally branded and customer-branded offerings, with independent customers generating higher gross profit per case through greater use of value-added services despite higher supply chain costs, while chain customers provide larger deliveries at lower margins. PFG sources products from various suppliers and serves as an important partner by providing suppliers access to its broad customer base, with approximately 43,000 employees supporting operations across the United States.
【Accelerating growth trajectory ahead】 Management expects strong execution to finish fiscal 2026 and anticipates a significant acceleration in fiscal 2027, driven by a robust pipeline of new chain business in Foodservice, continued incremental benefits from Love's and RaceTrac additions in Convenience through mid-fiscal 2027, and improving performance across all three segments. Cheney Brothers, acquired in October 2024, is expected to become a significant contributor to revenue and profit growth moving forward as integration costs normalize and synergies begin flowing through the income statement in late year two through year three post-acquisition. The company remains confident in achieving its three-year targets announced at Investor Day, with procurement savings opportunities and market share gains continuing to support margin expansion and operational leverage across the organization.
| Metric | Target | Period |
|---|---|---|
| Net Sales | $67.7 billion–$68 billion | FY2026 |
| Adjusted EBITDA | $1.9 billion–$1.93 billion | FY2026 |
| Net Sales | $73 billion–$75 billion | FY2028 |
| Adjusted EBITDA | $2.3 billion–$2.5 billion | FY2028 |
Net Sales (FY2026): “For the full fiscal year, our sales target is now a range of $67.7 billion-$68 billion compared to the previously stated $67.25 billion-$68.25 billion range.”
Adjusted EBITDA (FY2026): “We now expect full year adjusted EBITDA in a range of $1.9 billion-$1.93 billion compared to the previously stated $1.875 billion and $1.975 billion in 2026.”
Net Sales (FY2028): “Our results keep us on track to achieve the three-year projections we announced at Investor Day, with sales in the range of $73 billion-$75 billion and adjusted EBITDA between $2.3 billion and $2.5 billion in fiscal 2028.”
Adjusted EBITDA (FY2028): “Our results keep us on track to achieve the three-year projections we announced at Investor Day, with sales in the range of $73 billion-$75 billion and adjusted EBITDA between $2.3 billion and $2.5 billion in fiscal 2028.”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2026 Earnings Call, Q3 FY2026 Earnings Call, Q2 FY2026 Earnings Call, Q1 FY2026 Earnings Call
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Cigarettes | $4.23B | $13.20B | $14.90B | $14.39B | $14.53B | 23% |
Center of the Plate | $8.93B | $11.33B | $11.29B | $11.51B | $13.16B | 21% |
Frozen Foods | $3.48B | $4.09B | $4.99B | $5.56B | $6.57B | 10% |
Canned and Dry Groceries | $3.29B | $4.60B | $5.54B | $5.63B | $6.07B | 10% |
Candy/Snack/Theater and Concession | $1.73B | $3.83B | $4.99B | $5.21B | $5.37B | 8% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 63.3B | 58.3B | 57.3B | 50.9B | 30.4B |
| Net Income | 0 | 340M | 436M | 397M | 113M | 41M |
| EPS | $0.00 | $2.18 | $2.79 | $2.54 | $0.74 | $0.30 |
| Free Cash Flow | 0 | 704M | 767M | 562M | 61M | -124M |
| ROIC | 0.0% | 6.5% | 7.1% | 6.9% | 2.8% | 3.1% |
| Gross Margin | - | 11.7% | 11.3% | 10.9% | 10.3% | 11.6% |
| Debt/Equity | 1.08 | 1.53 | 1.07 | 1.17 | 1.43 | 1.33 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 0 | 816M | 826M | 766M | 327M | 201M |
| Operating Margin | 0.0% | 1.3% | 1.4% | 1.3% | 0.6% | 0.7% |
| ROE | 0.0% | 7.9% | 10.6% | 10.6% | 3.4% | 1.9% |
| Shares Outstanding | 156M | 156M | 156M | 156M | 152M | 136M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 13.7B | 15.3B | 16.1B | 16.8B | 17.6B | 19.7B | 25.1B | 30.4B | 50.9B | 57.3B | 58.3B | 63.3B | 0 |
| Gross Margin | 12.4% | 12.1% | 12.5% | 12.7% | 13.0% | 12.7% | 11.4% | 11.6% | 10.3% | 10.9% | 11.3% | 11.7% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.6B | 1.7B | 1.8B | 1.9B | 2.0B | 2.2B | 2.8B | 3.3B | 4.9B | 5.5B | 5.8B | 6.6B | 6.6B |
| EBIT | 116M | 160M | 202M | 211M | 254M | 283M | -99M | 201M | 327M | 766M | 826M | 816M | 0 |
| Op. Margin | 0.8% | 1.0% | 1.3% | 1.3% | 1.4% | 1.4% | -0.4% | 0.7% | 0.6% | 1.3% | 1.4% | 1.3% | 0.0% |
| Net Income | 16M | 57M | 68M | 96M | 199M | 167M | -114M | 41M | 113M | 397M | 436M | 340M | 0 |
| Net Margin | 0.1% | 0.4% | 0.4% | 0.6% | 1.1% | 0.8% | -0.5% | 0.1% | 0.2% | 0.7% | 0.7% | 0.5% | 0.0% |
| Non-Recurring | -600K | 900K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.3M | 1.3M | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | N/A | 8.4% | 6.5% | 6.4% | 11.5% | 8.6% | -2.7% | 3.1% | 2.8% | 6.9% | 7.1% | 6.5% | 0.0% |
| ROE | N/A | 12.2% | 10.5% | 11.1% | 19.3% | 12.8% | -5.7% | 1.9% | 3.4% | 10.6% | 10.6% | 7.9% | 0.0% |
| ROA | N/A | 3.3% | 2.0% | 2.7% | 5.1% | 3.6% | -1.5% | 0.5% | 0.9% | 3.2% | 3.3% | 2.2% | 0.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 120M | 127M | 229M | 202M | 367M | 317M | 624M | 65M | 277M | 832M | 1.2B | 1.2B | 0 |
| Free Cash Flow | 29M | 29M | 109M | 62M | 227M | 178M | 466M | -124M | 61M | 562M | 767M | 704M | 0 |
| Owner Earnings | -14M | 4.9M | 93M | 58M | 215M | 147M | 329M | -300M | -230M | 292M | 564M | 444M | -766M |
| CapEx | 91M | 99M | 120M | 140M | 140M | 139M | 158M | 189M | 216M | 270M | 396M | 506M | 0 |
| Maint. CapEx | 133M | 121M | 119M | 126M | 130M | 155M | 276M | 339M | 463M | 497M | 557M | 718M | 718M |
| Growth CapEx | 0 | 0 | 1.1M | 14M | 10M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 133M | 121M | 119M | 126M | 130M | 155M | 276M | 339M | 463M | 497M | 557M | 718M | 718M |
| CapEx/OCF | N/A | N/A | 50.8% | 69.5% | 38.2% | 43.8% | 25.3% | 292.3% | 77.9% | 32.4% | 34.0% | 41.8% | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 9.3M | 5.0M | 5.0M | 0 | 11M | 78M | 58M | 58M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | 0.2% | 0.2% | N/A | N/A | 0.1% | 0.8% | 0.4% | 0.3% |
| Stock-Based Comp | 700K | 1.2M | 17M | 17M | 22M | 16M | 18M | 25M | 44M | 43M | 42M | 48M | 48M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 4.8M | 46M | 100K | 25M | 0 | 0 | 34M | 34M |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | 1.4B | 1.1B | 1.2B | 1.1B | 1.2B | 2.1B | 2.8B | 4.7B | 4.4B | 4.4B | 6.7B | 5.1B |
| Cash & Equiv. | 5.3M | 29M | 24M | 21M | 18M | 15M | 421M | 11M | 12M | 13M | 20M | 79M | 56M |
| Long-Term Debt | N/A | 1.4B | 1.1B | 1.2B | 1.1B | 1.2B | 2.2B | 2.2B | 3.9B | 3.5B | 3.2B | 5.4B | 5.1B |
| Debt/Equity | N/A | 2.81 | 1.39 | 1.35 | 1.00 | 0.95 | 1.45 | 1.33 | 1.43 | 1.17 | 1.07 | 1.53 | 1.08 |
| Interest Coverage | 1.3 | 1.9 | 2.4 | 3.8 | 4.2 | 4.3 | -0.8 | 1.3 | 1.8 | 3.5 | 3.6 | 2.3 | 2.3 |
| Equity | N/A | 493M | 803M | 926M | 1.1B | 1.3B | 2.0B | 2.1B | 3.3B | 3.7B | 4.1B | 4.5B | 4.7B |
| Total Assets | N/A | 3.4B | 3.5B | 3.8B | 4.0B | 4.7B | 7.7B | 7.8B | 12.4B | 12.5B | 13.4B | 17.9B | 18.4B |
| Total Liabilities | 52M | 2.9B | 2.7B | 2.9B | 2.9B | 3.4B | 5.7B | 5.7B | 9.1B | 8.8B | 9.3B | 13.4B | 13.7B |
| Intangibles | N/A | 167M | 149M | 201M | 194M | 194M | 919M | 796M | 1.2B | 1.0B | 971M | 1.7B | 1.6B |
| Retained Earnings | N/A | -98M | -29M | 67M | 265M | 431M | 317M | 357M | 470M | 867M | 1.3B | 1.6B | 1.8B |
| Working Capital | N/A | 606M | 622M | 702M | 734M | 971M | 835M | 1.1B | 2.4B | 2.5B | 2.4B | 2.6B | 2.5B |
| Current Assets | N/A | 1.9B | 1.9B | 2.1B | 2.2B | 2.7B | 3.5B | 3.6B | 6.0B | 6.1B | 6.2B | 7.1B | 7.4B |
| Current Liabilities | N/A | 1.3B | 1.3B | 1.4B | 1.5B | 1.7B | 2.6B | 2.5B | 3.6B | 3.6B | 3.8B | 4.5B | 4.9B |
| Per Share Data | |||||||||||||
| EPS | 0.18 | 0.64 | 0.70 | 0.93 | 1.90 | 1.59 | -1.01 | 0.30 | 0.74 | 2.54 | 2.79 | 2.18 | 0.00 |
| Owner EPS | -0.16 | 0.06 | 0.95 | 0.56 | 2.06 | 1.40 | 2.92 | -2.21 | -1.51 | 1.87 | 3.61 | 2.85 | -4.91 |
| Book Value | N/A | 5.58 | 8.23 | 8.94 | 10.86 | 12.37 | 17.80 | 15.52 | 21.70 | 23.95 | 26.41 | 28.66 | 30.27 |
| Cash Flow/Share | 1.39 | 1.44 | 2.34 | 1.95 | 3.51 | 3.03 | 5.52 | 0.48 | 1.82 | 5.32 | 7.44 | 7.75 | 4.60 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 86.1M | 88.3M | 97.6M | 103.5M | 104.6M | 104.9M | 113.0M | 135.7M | 152.0M | 156.4M | 156.2M | 156.1M | 156.0M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | 37.4 | 29.2 | 19.6 | 25.2 | N/A | 158.6 | 62.4 | 23.5 | 23.7 | 40.1 | N/A |
| P/FCF | N/A | N/A | 23.5 | 45.8 | 17.1 | 23.6 | 6.8 | N/A | 115.1 | 16.6 | 13.5 | 19.4 | N/A |
| EV/EBIT | N/A | N/A | 18.1 | 19.2 | 19.8 | 19.1 | N/A | 43.7 | 33.8 | 16.9 | 16.7 | 23.7 | N/A |
| Price/Book | N/A | N/A | 3.2 | 3.0 | 3.4 | 3.2 | 1.6 | 3.1 | 2.1 | 2.5 | 2.5 | 3.1 | 3.7 |
| Price/Sales | N/A | N/A | 0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | N/A |
| FCF Yield | N/A | N/A | 4.3% | 2.2% | 5.8% | 4.2% | 14.8% | -1.9% | 0.9% | 6.0% | 7.4% | 5.2% | N/A |
| Market Cap | 0 | N/A | 2.6B | 2.8B | 3.9B | 4.2B | 3.1B | 6.5B | 7.0B | 9.3B | 10.3B | 13.7B | 17.4B |
| Avg. Price | 0.00 | N/A | 23.54 | 24.88 | 30.72 | 35.92 | 39.91 | 44.70 | 46.68 | 55.11 | 66.20 | 80.14 | 111.49 |
| Year-End Price | 0.00 | N/A | 26.15 | 27.20 | 37.15 | 40.03 | 27.88 | 47.59 | 46.17 | 59.65 | 66.11 | 87.47 | 111.49 |
Performance Food Group Co passes 2 of 9 quality checks, indicating weak fundamentals.
Performance Food Group Co trades at 50.4x trailing earnings, compared to its 15-year median P/E of 27.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 22.1x vs a median of 18.3x. The company's 5-year average ROIC is 5.3% with a gross margin of 11.2%. Total shareholder yield (buybacks) is 0.3%. At current prices, the estimated annualized return to fair value is +5.7%.
Performance Food Group Co (PFGC) reported annual revenue of $63.3 billion in its most recent fiscal year, based on SEC EDGAR filings.
Performance Food Group Co (PFGC) has a net profit margin of 0.5%. This is a modest margin.
Performance Food Group Co (PFGC) generated $704 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Performance Food Group Co (PFGC) has a debt-to-equity ratio of 1.53. This indicates higher leverage, which may increase financial risk.
Performance Food Group Co (PFGC) reported earnings per share (EPS) of $2.18 in its most recent fiscal year.
Performance Food Group Co (PFGC) has a return on equity (ROE) of 7.9%. This indicates moderate shareholder returns.
Performance Food Group Co (PFGC) has a 5-year average gross margin of 11.2%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 12 years of financial data for Performance Food Group Co (PFGC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Performance Food Group Co (PFGC) has a book value per share of $28.66, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management expects strong execution to finish fiscal 2026 and anticipates a significant acceleration in fiscal 2027, driven by a robust pipeline of new chain business in Foodservice, continued incremental benefits from Love's and RaceTrac additions in Convenience through mid-fiscal 2027, and improving performance across all three segments. Cheney Brothers, acquired in October 2024, is expected to become a significant contributor to revenue and profit growth moving forward as integration costs normalize and synergies begin flowing through the income statement in late year two through year three post-acquisition. The company remains confident in achieving its three-year targets announced at Investor Day, with procurement savings opportunities and market share gains continuing to support margin expansion and operational leverage across the organization.
Based on recent SEC filings and earnings calls, Performance Food Group Co (PFGC) has provided the following forward guidance: Net Sales: $67.7 billion–$68 billion (FY2026); Adjusted EBITDA: $1.9 billion–$1.93 billion (FY2026); Net Sales: $73 billion–$75 billion (FY2028); Adjusted EBITDA: $2.3 billion–$2.5 billion (FY2028).
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