CHEF
Chefs' Warehouse, Inc.
Next earnings Jul 28, 2026 · consensus $0.59 EPS, $1.14B rev
Last earnings +17.8% on 2026-04-29
$95.92
▲ +1.65%$95.92▲ +52.54%
over 1Y
L $54.60EODHDH $95.92
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.7%
1W+2.3%
1M+24.8%
3M+61.2%
YTD+53.7%
1Y+52.5%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 14 analysts
Buy
Specialty-foods distributor executing well, but a 57x P/E on 1.7% net margins prices in perfection — own it, don't chase it.
Revenue $4.15B · FY2025
The read
Middling fundamentals and a rich price (~36% above fair value) leave little margin of safety — a wait-and-see.
Chefs' Warehouse is doing the operating job well. Revenue compounded from $1.75B in FY2021 to $4.15B in FY2025 (+9.4% YoY), net income grew 30.4% to $72.4M, diluted EPS rose 27.3% to $1.68, and ROE reached 12.0%. The five-year arc — from a $4.9M loss in FY2021 to $72M of profit — shows the post-pandemic specialty-foods/food-away-from-home thesis is intact, and the Italco acquisition (Oct 1, 2025, $16.5M) and 3.1M sq ft across 44 distribution centers extend the footprint into Denver and other premier culinary markets. Operating income grew 13.2% to $145M, faster than revenue, suggesting modest leverage on the fixed cost base.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.75B | $2.61B | $3.43B | $3.79B | $4.15B |
| Gross profit | $390M | $619M | $814M | $914M | $1.00B |
| Operating income | $10.8M | $85.7M | $101M | $128M | $145M |
| Net income | -$4.92M | $27.8M | $34.6M | $55.5M | $72.4M |
| Diluted EPS | -$0.13 | $0.73 | $0.88 | $1.32 | $1.68 |
| Net margin | -0.3% | 1.1% | 1.0% | 1.5% | 1.7% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$4.53B
EV / EBITDA22.8
EV / Sales1.1
EV / FCF51.6
P / FCF44.5
PEG (trailing)1.88
Earnings yield1.9%
FCF yield2.2%
Quality & risk
ROIC (est.)8.5%
Free cash flow$87.8M
Total debt$749M
Net cash-$628M
Altman Z-Score4.36 safe
Piotroski F-Score8/9
Capital returns
Buyback yield0.4%
Dividend yield (est.)0.0%
Shareholder yield0.4%
Shares Δ YoY+1.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-05-11
Annual meeting voting results: directors elected and routine proposals ratified.
- 8-K Earnings results2026-04-29
Q1 2026 10-Q with detailed results behind same-day earnings release.
- 10-Q Quarterly report2026-04-29
Q1 2026 10-Q with detailed results behind same-day earnings release.
- 8-K Officer / director change2026-04-24
Officer/director change disclosed under Item 5.02.
- DEF 14A Proxy statement2026-03-25
FY25 proxy: routine board slate, exec comp, auditor ratification.
- 10-K Annual report2026-02-24
FY25 10-K: $4.15B rev, $72M NI, Italco (Denver) acquisition closed Oct 2025.
- 8-K Earnings results2026-02-11
FY25 results: revenue $4.15B (+9%), net income +30%, diluted EPS $1.68.
- 8-K Reg FD disclosure2026-01-13
Reg FD disclosure, likely investor-conference presentation materials.
- 8-K Earnings results2025-10-29
Q3 2025 10-Q; revenue and earnings growth continued into year-end.
Recent filings
all on EDGAR ↗4Period ending 2026-06-012026-06-03open ↗4Period ending 2026-05-192026-05-20open ↗144Filing2026-05-19open ↗SCHEDULE 13G/AFiling2026-05-15open ↗4Period ending 2026-05-082026-05-11open ↗4Period ending 2026-05-082026-05-11open ↗4Period ending 2026-05-082026-05-11open ↗4Period ending 2026-05-082026-05-11open ↗4Period ending 2026-05-082026-05-11open ↗4Period ending 2026-05-082026-05-11open ↗8-KPeriod ending 2026-05-082026-05-11open ↗4Period ending 2026-05-042026-05-05open ↗
Frequently asked
- Is Chefs' Warehouse, Inc. (CHEF) a buy?
- CHEF currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Specialty-foods distributor executing well, but a 57x P/E on 1.7% net margins prices in perfection — own it, don't chase it.
- What is CHEF's fair value?
- A Modified-Graham model based on CHEF's SEC fundamentals estimates a fair value of about $61.20. It is an estimate from reported earnings, not a price target.
- Is CHEF overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, CHEF currently appears overvalued relative to its SEC-grounded earnings power.
- What is Chefs' Warehouse, Inc.'s quality score?
- CHEF scores 67/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001517175, latest 10-Q filed 2026-04-29) · EODHD · analysis by claude-code · as of 6/25/2026, 1:10:48 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.