Performance Food Group
PFGC on NYSE. Performance Food Group sells food and supplies to restaurants and places that serve meals. Market value $14.6bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to June 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Everyday goods stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $6.97 of spare cash in the past 12 months. A savings account pays about $4.
You pay 24.2 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 6 cents a year. Above 10 is good.
Quality score: 65 of 100. Price score: 57 of 100. Our list needs 70 on quality and 60 on price.
$93.78 a share, 16% above its 1-year low
Over the past year the price has ranged from $80.82 to $117.47.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $50.9bn | $57.3bn | $58.3bn | $63.3bn | $67.8bn |
| Operating margin | |||||
| Operating margin | 0.6% | 1.3% | 1.4% | 1.3% | 1.3% |
| Debt to equity | |||||
| Debt to equity | 1.32 | 1.07 | 0.98 | 1.56 | 1.39 |
| Shares outstanding | |||||
| Shares outstanding | 0.16bn | 0.16bn | 0.16bn | 0.16bn | 0.16bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)Yes
- Debt1.39× equity
- Revenue growth, five yearsStrong, 17.4% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $18 billion last quarter, up 6% on a year ago.
- Profit: $162 million, up 23% on a year ago.
- It keeps 1 cents of each $1 of sales as operating profit, about the same as a year earlier.
- Spare cash over the past 12 months: $1 billion, up from $704 million.
- Debt is $6.7 billion more than cash, down from $6.9 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $15.4bn |
| December 2024 | $15.6bn |
| March 2025 | $15.3bn |
| June 2025 | $16.9bn |
| September 2025 | $17.1bn |
| December 2025 | $16.4bn |
| March 2026 | $16.3bn |
| June 2026 | $18.0bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $108m |
| December 2024 | $42m |
| March 2025 | $58m |
| June 2025 | $132m |
| September 2025 | $94m |
| December 2025 | $62m |
| March 2026 | $42m |
| June 2026 | $162m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 August 2026
- Next quarterly (estimated, 10-Q)
- 5 August 2026
Who owns it
4 long-term investors we follow own it, up from 3 last quarter. 528 funds in all.
- Sachem Head CapitalScott Ferguson
- Value
- $374m
- Share of fund
- 7.8%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Sachem Head CapitalScott Ferguson | $374m | 7.8% | |
| Third PointDan Loeb | $75m | 1.6% | New |
| Gotham Asset ManagementJoel Greenblatt | $43m | 0.1% | Added |
| First Eagle Investment ManagementMatthew McLennan | $2m | <0.1% | Added |
Largest holders overall
- Capital World Investors$2.6bn
- BlackRock$1.6bn
- FMR$1.3bnAdded
- JPMorgan Chase$773mCut
- Vanguard Portfolio Management$768m
- Vanguard Capital Management$765m
- Invesco$763m
- Lone Pine Capital$654mAdded
- State Street$545mAdded
- Dimensional Fund Advisors LP$383mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
3 investors own more than 5%.
- Capital World InvestorsPassive investor14.9%Since 30 June 2026
- FMR LLCPassive investorat least 7.1%−2.9 pts(filed with 1 related holder)Since 30 September 2025
- Vanguard Capital ManagementPassive investor5.1%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Capital World Investors Passive investor | 14.9% | 30 June 2026 | |
FMR LLC Passive investor | at least 7.1%−2.9 pts (filed with 1 related holder) | 30 September 2025 | |
Vanguard Capital Management Passive investor | 5.1% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $28m, $28m of it under preset trading plans.
- Grosh Chasity DSee RemarksSoldunder a preset trading plan
- Date
- 30 September 2026
- Shares
- 1,005
- Price
- $92.40
- Value
- $92,862
- Hatcher Hugh PatrickSee RemarksSoldunder a preset trading plan
- Date
- 1 September 2026
- Shares
- 3,000
- Price
- $99.18
- Value
- $297,539
- DAVIS ERIKA TSee RemarksSoldunder a preset trading plan
- Date
- 25 August 2026
- Shares
- 1,320
- Price
- $105.29
- Value
- $138,983
- Bulmer Donald S.See RemarksSoldunder a preset trading plan
- Date
- 25 August 2026
- Shares
- 1,353
- Price
- $105.29
- Value
- $142,457
- KING A BRENTSee RemarksSoldunder a preset trading plan
- Date
- 25 August 2026
- Shares
- 1,320
- Price
- $105.29
- Value
- $138,983
- Bulmer Donald S.See RemarksSoldunder a preset trading plan
- Date
- 24 August 2026
- Shares
- 10,535
- Price
- $105.90
- Value
- $1m
- KING A BRENTSee RemarksSoldunder a preset trading plan
- Date
- 21 August 2026
- Shares
- 1,178
- Price
- $104.43
- Value
- $123,019
- DAVIS ERIKA TSee RemarksSoldunder a preset trading plan
- Date
- 21 August 2026
- Shares
- 1,178
- Price
- $104.42
- Value
- $123,007
- Grosh Chasity DSee RemarksSoldunder a preset trading plan
- Date
- 21 August 2026
- Shares
- 643
- Price
- $104.42
- Value
- $67,142
- KING A BRENTSee RemarksSoldunder a preset trading plan
- Date
- 20 August 2026
- Shares
- 8,023
- Price
- $104.21
- Value
- $836,103
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 30 September 2026 | Grosh Chasity D See Remarks | Sold under a preset trading plan | 1,005 | $92.40 | $92,862 |
| 1 September 2026 | Hatcher Hugh Patrick See Remarks | Sold under a preset trading plan | 3,000 | $99.18 | $297,539 |
| 25 August 2026 | DAVIS ERIKA T See Remarks | Sold under a preset trading plan | 1,320 | $105.29 | $138,983 |
| 25 August 2026 | Bulmer Donald S. See Remarks | Sold under a preset trading plan | 1,353 | $105.29 | $142,457 |
| 25 August 2026 | KING A BRENT See Remarks | Sold under a preset trading plan | 1,320 | $105.29 | $138,983 |
| 24 August 2026 | Bulmer Donald S. See Remarks | Sold under a preset trading plan | 10,535 | $105.90 | $1m |
| 21 August 2026 | KING A BRENT See Remarks | Sold under a preset trading plan | 1,178 | $104.43 | $123,019 |
| 21 August 2026 | DAVIS ERIKA T See Remarks | Sold under a preset trading plan | 1,178 | $104.42 | $123,007 |
| 21 August 2026 | Grosh Chasity D See Remarks | Sold under a preset trading plan | 643 | $104.42 | $67,142 |
| 20 August 2026 | KING A BRENT See Remarks | Sold under a preset trading plan | 8,023 | $104.21 | $836,103 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Aug 2026, plus 2 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.