United Natural Foods
UNFI on NYSE. United Natural Foods sells grocery and non-food products to retailers in the United States and Canada. Market value $2.7bn.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to July 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 $12.09 of spare cash in the past 12 months. A savings account pays about $4.
You pay 19.9 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 3 cents a year. Above 10 is good.
Quality score: 51 of 100. Price score: 69 of 100. Our list needs 70 on quality and 60 on price.
$44.29 a share, 43% above its 1-year low
Over the past year the price has ranged from $30.91 to $57.02.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $28.9bn | $30.3bn | $31.0bn | $31.8bn | $31.2bn |
| Operating margin | |||||
| Operating margin | 1.5% | 0.4% | 0.0% | -0.1% | 0.7% |
| Debt to equity | |||||
| Debt to equity | 1.21 | 1.14 | 1.28 | 1.21 | 0.96 |
| Shares outstanding | |||||
| Shares outstanding | 0.06bn | 0.06bn | 0.06bn | 0.06bn | 0.06bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)8 of 9
- Profit backed by cash (accruals)Yes
- Debt0.96× equity
- Revenue growth, five yearsSlow, 2.9% a year
- Buying back its own sharesRoughly flat
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $7.6 billion last quarter, down 1% on a year ago.
- Profit: $35 million, after a loss of $87 million a year ago.
- It keeps 1 cents of each $1 of sales as operating profit, up from 0 cents a year earlier.
- Spare cash over the past 12 months: $323 million, up from $239 million.
- Debt is $1.5 billion more than cash, down from $1.8 billion a year ago.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $7.9bn |
| January 2025 | $8.2bn |
| April 2025 | $8.1bn |
| July 2025 | $7.7bn |
| October 2025 | $7.8bn |
| January 2026 | $7.9bn |
| April 2026 | $7.7bn |
| July 2026 | $7.6bn |
| Quarter to | Amount |
|---|---|
| October 2024 | -$21m |
| January 2025 | -$3m |
| April 2025 | -$7m |
| July 2025 | -$87m |
| October 2025 | -$4m |
| January 2026 | $20m |
| April 2026 | $33m |
| July 2026 | $35m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 14 September 2026
- Next quarterly (estimated, 10-Q)
- 8 September 2026
Who owns it
4 long-term investors we follow own it, down from 5 last quarter. 360 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $2m | <0.1% | Cut |
| GMOJeremy Grantham | $776,344 | <0.1% | Added |
| Miller Value PartnersBill Miller IV | $214,877 | <0.1% | Cut |
| Barrow HanleyBarrow Hanley team | $4,704 | <0.1% | Added |
Sold out this quarter
- ValueWorksCharles LemonidesSold out
Largest holders overall
- BlackRock$478m
- Vanguard Portfolio Management$204mAdded
- American Century Companies$177mAdded
- Dimensional Fund Advisors LP$161m
- Vanguard Capital Management$118m
- State Street$112mAdded
- Geode Capital Management$80mAdded
- SG Americas Securities$74mCut
- Wellington Management Group LLP$70mAdded
- D. E. Shaw$70mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- BlackRock, Inc.Passive investor15.0%Since 31 March 2025
- Vanguard Portfolio ManagementPassive investor7.2%Since 31 March 2026
- American Century Investment Management, Inc.Passive investorat least 5.5%(filed with 3 related holders)Since 31 March 2026
- Vanguard Capital ManagementPassive investor5.0%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 15.0% | 31 March 2025 | |
Vanguard Portfolio Management Passive investor | 7.2% | 31 March 2026 | |
American Century Investment Management, Inc. Passive investor | at least 5.5% (filed with 3 related holders) | 31 March 2026 | |
Vanguard Capital Management Passive investor | 5.0% | 30 June 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
In the last 12 months, 1 insider bought $573,000 of shares on the open market. 4 sold $1m, $249,964 of it under preset trading plans.
- Bushway MarkPresident, Natural & CSCOSold
- Date
- 23 June 2026
- Shares
- 10,000
- Price
- $51.56
- Value
- $515,600
- Benedict DanielleChief Human Resources OfficerSoldunder a preset trading plan
- Date
- 6 May 2026
- Shares
- 4,807
- Price
- $52.00
- Value
- $249,964
- Pappas James CDirectorBought
- Date
- 5 January 2026
- Shares
- 2,000
- Price
- $33.30
- Value
- $66,600
- Pappas James CDirectorBought
- Date
- 2 January 2026
- Shares
- 15,000
- Price
- $33.76
- Value
- $506,400
- Martin Louis AnthonyPresident, Conventional & CCOSold
- Date
- 22 December 2025
- Shares
- 9,439
- Price
- $34.67
- Value
- $327,250
- Esper Richard EricChief Accounting OfficerSold
- Date
- 18 December 2025
- Shares
- 4,261
- Price
- $33.08
- Value
- $140,954
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 23 June 2026 | Bushway Mark President, Natural & CSCO | Sold | 10,000 | $51.56 | $515,600 |
| 6 May 2026 | Benedict Danielle Chief Human Resources Officer | Sold under a preset trading plan | 4,807 | $52.00 | $249,964 |
| 5 January 2026 | Pappas James C Director | Bought | 2,000 | $33.30 | $66,600 |
| 2 January 2026 | Pappas James C Director | Bought | 15,000 | $33.76 | $506,400 |
| 22 December 2025 | Martin Louis Anthony President, Conventional & CCO | Sold | 9,439 | $34.67 | $327,250 |
| 18 December 2025 | Esper Richard Eric Chief Accounting Officer | Sold | 4,261 | $33.08 | $140,954 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
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.