Cash flow The Chefs' Warehouse, Inc.

Equities

CHEF

US1630861011

Food Retail & Distribution

Market Closed - Nasdaq Other stock markets 04:00:00 2026-03-06 pm EST			5-day change	1st Jan Change
62.90 ^USD	-0.51%		-11.89%	+0.91%

Mar. 04	Chefs' Warehouse Insider Sold Shares Worth $2,100,990, According to a Recent SEC Filing	MT
Feb. 11	The Chefs' Warehouse, Inc., Q4 2025 Earnings Call, Feb 11, 2026

1653efb93ab4ba1f2e36843.Np2Ep43ta5zhrMmXvS9Cj94aCe4ZVF7BMTk3dqIFj90.Vcq06tmFHeaW75vC6lt2v5RFObZ-DTqoXEBhHsBV-ulh1NHpx50F1tj6nA

Published financial data: THE CHEFS' WAREHOUSE, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	1.75B	2.61B	3.43B	3.79B	4.15B
Total Revenues	1.75B	2.61B	3.43B	3.79B	4.15B
Cost of Goods Sold, Total	1.36B	1.99B	2.62B	2.88B	3.15B
Gross Profit	390M	619M	814M	914M	1B
Selling General & Admin Expenses, Total	379M	518M	703M	783M	847M
Other Operating Expenses	478K	1.8M	373K	4.35M	1.17M
Other Operating Expenses, Total	380M	520M	703M	787M	848M
Operating Income	10.76M	98.98M	112M	127M	156M
Interest Expense, Total	-17.59M	-43.85M	-45.47M	-48.68M	-41.56M
Net Interest Expenses	-17.59M	-43.85M	-45.47M	-48.68M	-41.56M
EBT, Excl. Unusual Items	-6.83M	55.13M	66.04M	78.44M	114M
Merger & Related Restructuring Charges	-450K	-4.72M	-5.66M	-2.18M	-2.63M
Gain (Loss) On Sale Of Assets	-193K	-17K	-	-	-
Asset Writedown	-597K	-	-1.84M	-	-8.02M
Other Unusual Items	1.3M	-8.5M	-3.08M	3.27M	-
EBT, Incl. Unusual Items	-6.78M	41.89M	55.47M	79.53M	104M
Income Tax Expense	-1.85M	14.14M	20.88M	24.05M	31.18M
Earnings From Continuing Operations	-4.92M	27.75M	34.59M	55.48M	72.36M
Net Income to Company	-4.92M	27.75M	34.59M	55.48M	72.36M
Net Income - (IS)	-4.92M	27.75M	34.59M	55.48M	72.36M
Net Income to Common Incl Extra Items	-4.92M	27.75M	34.59M	55.48M	72.36M
Net Income to Common Excl. Extra Items	-4.92M	27.75M	34.59M	55.48M	72.36M
Per Share Items
Net EPS - Basic	-0.13	0.75	0.92	1.46	1.87
Basic EPS - Continuing Operations	-0.13	0.75	0.92	1.46	1.87
Basic Weighted Average Shares Outstanding	36.74M	37.09M	37.63M	37.91M	38.72M
Net EPS - Diluted	-0.13	0.73	0.88	1.32	1.68
Diluted EPS - Continuing Operations	-0.13	0.73	0.88	1.32	1.68
Diluted Weighted Average Shares Outstanding	36.74M	38.74M	45.64M	45.98M	46M
Normalized Basic EPS	-0.12	0.93	1.1	1.29	1.84
Normalized Diluted EPS	-0.12	0.89	0.9	1.07	1.55
Supplemental Items
EBITDA	39.64M	131M	161M	187M	228M
EBITA	23.72M	113M	134M	151M	180M
EBIT	10.76M	98.98M	112M	127M	156M
EBITDAR	72.56M	175M	226M	258M	293M
Effective Tax Rate - (Ratio)	27.35	33.75	37.64	30.24	30.11
Current Domestic Taxes	-8K	4.33M	11.93M	20.1M	21.23M
Current Foreign Taxes	-	208K	838K	2.49M	3.42M
Total Current Taxes	-8K	4.54M	12.76M	22.59M	24.65M
Deferred Domestic Taxes	-1.82M	9.6M	8.16M	3.64M	6.2M
Deferred Foreign Taxes	-22K	-4K	-48K	-2.17M	332K
Total Deferred Taxes	-1.84M	9.6M	8.11M	1.46M	6.53M
Normalized Net Income	-4.27M	34.46M	41.28M	49.03M	71.37M
Interest on Long-Term Debt	17.59M	43.85M	45.47M	48.68M	41.56M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	-	-
Net Rental Expense, Total	32.92M	43.2M	64.81M	71.16M	65.68M
Imputed Operating Lease Interest Expense	8.63M	21.97M	26.74M	30.09M	23.1M
Imputed Operating Lease Depreciation	24.29M	21.22M	38.06M	41.08M	42.58M
Stock-Based Comp., SG&A Exp. (Total)	-	13.6M	20.04M	17.78M	21.24M
Stock-Based Comp., Other (Total)	11.48M	-	-	-	-
Total Stock-Based Compensation	11.48M	13.6M	20.04M	17.78M	21.24M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	115M	159M	49.88M	115M	121M
Total Cash And Short Term Investments	115M	159M	49.88M	115M	121M
Accounts Receivable, Total	173M	260M	334M	366M	392M
Other Receivables	22.67M	21.25M	22.97M	25.94M	27.14M
Total Receivables	195M	281M	357M	392M	420M
Inventory	144M	246M	285M	316M	386M
Prepaid Expenses	15.11M	34.95M	39.56M	45.12M	43.67M
Total Current Assets	470M	721M	731M	868M	970M
Gross Property Plant And Equipment	364M	461M	564M	615M	726M
Accumulated Depreciation	-99.86M	-119M	-137M	-148M	-179M
Net Property Plant And Equipment	264M	342M	427M	467M	547M
Goodwill	222M	287M	356M	356M	363M
Other Intangibles, Total	105M	156M	185M	160M	137M
Deferred Tax Assets Long-Term	9.38M	-	-	-	-
Deferred Charges Long-Term	460K	448K	598K	414K	1.54M
Other Long-Term Assets, Total	3.15M	2.81M	5.78M	6.35M	9.23M
Total Assets	1.07B	1.51B	1.71B	1.86B	2.03B
Liabilities
Accounts Payable, Total	118M	163M	201M	267M	276M
Accrued Expenses, Total	51.4M	78.76M	94.81M	115M	142M
Current Portion of Long-Term Debt	1.71M	9.22M	47.8M	8M	8.64M
Current Portion of Leases	19.31M	22.64M	29.64M	32M	44.39M
Unearned Revenue Current, Total	2.29M	2.21M	2.46M	1.94M	1.93M
Other Current Liabilities	4.01M	7.52M	10.53M	1.63M	950K
Total Current Liabilities	197M	284M	386M	425M	473M
Long-Term Debt	386M	645M	648M	651M	631M
Long-Term Leases	135M	160M	201M	225M	290M
Deferred Tax Liability Non Current	-	6.1M	14.42M	15.89M	22.42M
Other Non Current Liabilities	5.11M	13.03M	1.6M	3.94M	5.94M
Total Liabilities	724M	1.11B	1.25B	1.32B	1.42B
Common Stock, Total	380K	386K	396K	402K	407K
Additional Paid In Capital	314M	338M	356M	399M	405M
Retained Earnings	37.61M	65.36M	99.95M	142M	202M
Comprehensive Income and Other	-2.02M	-2.18M	-1.83M	-3.81M	-2.76M
Total Common Equity	350M	402M	455M	538M	604M
Total Equity	350M	402M	455M	538M	604M
Total Liabilities And Equity	1.07B	1.51B	1.71B	1.86B	2.03B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	37.89M	38.6M	39.67M	40.27M	40.69M
ECS Total Common Shares Outstanding	37.89M	38.6M	39.67M	40.25M	40.68M
Book Value / Share	9.24	10.4	11.46	13.36	14.86
Tangible Book Value	23.69M	-41.31M	-86.21M	20.96M	104M
Tangible Book Value Per Share	0.63	-1.07	-2.17	0.52	2.56
Total Debt	542M	837M	926M	916M	975M
Net Debt	427M	678M	876M	801M	854M
Debt Equivalent Oper. Leases	263M	346M	518M	569M	525M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	-	-	-	-	-
Inventories - Others	153M	255M	296M	328M	396M
Land - (BS)	5.02M	5.54M	5.54M	5.54M	5.54M
Buildings, Total	18.41M	39.89M	41.98M	63.87M	66.68M
Machinery, Total	76.79M	85.87M	107M	141M	207M
Full Time Employees	2.71K	4.12K	4.87K	5.03K	5.16K
Accumulated Allowance for Doubtful Accounts (Supple)	20.26M	20.73M	21.42M	22.34M	26.96M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-4.92M	27.75M	34.59M	55.48M	72.36M
Depreciation & Amortization - CF	15.92M	18.57M	26.91M	35.11M	47.54M
Amortization of Goodwill and Intangible Assets - (CF)	12.97M	13.91M	22.72M	24.37M	24.48M
Depreciation & Amortization, Total	28.88M	32.48M	49.63M	59.49M	72.02M
Amortization of Deferred Charges, Total - (CF)	8.38M	7.05M	5.98M	5.45M	6.11M
(Gain) Loss From Sale Of Asset	193K	17K	-	-	-
Asset Writedown & Restructuring Costs	597K	-	1.84M	-	8.02M
Stock-Based Compensation (CF)	11.48M	13.6M	20.04M	17.78M	21.24M
Provision and Write-off of Bad Debts	-422K	6.05M	8.08M	11.98M	12.12M
Other Operating Activities, Total	-1.74M	34.12M	16.65M	4.34M	12.98M
Change In Accounts Receivable	-70.78M	-48.23M	-48.81M	-44.81M	-35.85M
Change In Inventories	-60.8M	-49.93M	-28.76M	-32.2M	-67.11M
Change In Accounts Payable	71.52M	19.16M	19.6M	87.31M	31.37M
Change in Other Net Operating Assets	-2.29M	-18.94M	-17.19M	-11.75M	-4.04M
Cash from Operations	-19.9M	23.13M	61.64M	153M	129M
Capital Expenditure	-38.8M	-45.85M	-57.43M	-49.51M	-41.43M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-10.19M	-186M	-122M	-315K	-4.58M
Other Investing Activities, Total	-	-	-	-	-750K
Cash from Investing	-48.99M	-232M	-179M	-49.82M	-46.76M
Long-Term Debt Issued, Total	51.75M	630M	60M	46.43M	-
Total Debt Issued	51.75M	630M	60M	46.43M	-
Long-Term Debt Repaid, Total	-57.61M	-351M	-35.55M	-56.48M	-48.57M
Total Debt Repaid	-57.61M	-351M	-35.55M	-56.48M	-48.57M
Issuance of Common Stock	-	69K	55K	175K	-
Repurchase of Common Stock	-1.83M	-2.67M	-2.13M	-24.8M	-27M
Other Financing Activities, Total	-1.53M	-22.83M	-13.36M	-3.8M	-658K
Cash from Financing	-9.22M	253M	9.01M	-38.48M	-76.22M
Foreign Exchange Rate Adjustments	-14K	-681K	-260K	19K	89K
Net Change in Cash	-78.13M	43.64M	-109M	64.78M	6.33M
Supplemental Items
Cash Interest Paid	15.39M	27.22M	42.07M	42.76M	38.49M
Cash Income Tax Paid (Refund)	-230K	4.28M	17.93M	18.52M	22.91M
Levered Free Cash Flow	-55.6M	-89.62M	-3.05M	86.95M	68.84M
Unlevered Free Cash Flow	-46.9M	-63.5M	25.37M	117M	94.82M
Change In Net Working Capital	61.27M	131M	62.55M	-4.72M	60.48M
Net Debt Issued / Repaid	-5.86M	279M	24.45M	-10.05M	-48.57M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	0.66	4.79	4.34	4.46	5.01
Return on Total Capital	0.76	5.81	5.32	5.61	6.42
Return On Equity %	-1.42	7.38	8.08	11.18	12.67
Return on Common Equity	-1.42	7.38	8.08	11.18	12.67
Margin Analysis
Gross Profit Margin %	22.37	23.67	23.72	24.09	24.2
SG&A Margin	21.72	19.82	20.46	20.63	20.42
EBITDA Margin %	2.27	5.03	4.69	4.92	5.49
EBITA Margin %	1.36	4.32	3.91	3.99	4.34
EBIT Margin %	0.62	3.79	3.25	3.35	3.75
Income From Continuing Operations Margin %	-0.28	1.06	1.01	1.46	1.74
Net Income Margin %	-0.28	1.06	1.01	1.46	1.74
Net Avail. For Common Margin %	-0.28	1.06	1.01	1.46	1.74
Normalized Net Income Margin	-0.24	1.32	1.2	1.29	1.72
Levered Free Cash Flow Margin	-3.18	-3.43	-0.09	2.29	1.66
Unlevered Free Cash Flow Margin	-2.69	-2.43	0.74	3.09	2.28
Asset Turnover
Asset Turnover	1.7	2.02	2.14	2.13	2.14
Fixed Assets Turnover	7.05	8.62	8.93	8.49	8.18
Receivables Turnover (Average Receivables)	12.98	12.08	11.56	10.84	10.94
Inventory Turnover (Average Inventory)	11.94	10.22	9.88	9.59	8.96
Short Term Liquidity
Current Ratio	2.39	2.54	1.89	2.04	2.05
Quick Ratio	1.58	1.55	1.05	1.19	1.14
Operating Cash Flow to Current Liabilities	-0.1	0.08	0.16	0.36	0.27
Days Sales Outstanding (Average Receivables)	28.04	30.71	31.49	33.59	33.28
Days Outstanding Inventory (Average Inventory)	30.48	36.28	36.84	37.95	40.6
Average Days Payable Outstanding	22.58	24.93	24.92	29.21	30.7
Cash Conversion Cycle (Average Days)	35.94	42.07	43.42	42.33	43.18
Long Term Solvency
Total Debt/Equity	154.9	208.41	203.72	170.34	161.33
Total Debt / Total Capital	60.77	67.58	67.08	63.01	61.73
LT Debt/Equity	148.9	200.47	186.69	162.9	152.55
Long-Term Debt / Total Capital	58.41	65	61.47	60.26	58.38
Total Liabilities / Total Assets	67.39	73.4	73.34	71.07	70.2
EBIT / Interest Expense	0.61	2.26	2.45	2.61	3.75
EBITDA / Interest Expense	4.13	3.98	4.97	5.3	7.06
(EBITDA - Capex) / Interest Expense	1.92	2.94	3.71	4.28	6.06
Total Debt / EBITDA	7.48	4.79	4.1	3.55	3.32
Net Debt / EBITDA	5.89	3.88	3.88	3.11	2.91
Total Debt / (EBITDA - Capex)	16.07	6.5	5.5	4.4	3.87
Net Debt / (EBITDA - Capex)	12.66	5.26	5.2	3.85	3.39
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	57.04	49.7	31.39	10.5	9.36
Gross Profit, 1 Yr. Growth %	48.61	58.43	31.66	12.24	9.84
EBITDA, 1 Yr. Growth %	-230.11	231.64	22.59	15.8	22.07
EBITA, 1 Yr. Growth %	-152.19	375.9	18.93	12.85	18.98
EBIT, 1 Yr. Growth %	-118.24	820.31	12.69	13.99	22.54
Earnings From Cont. Operations, 1 Yr. Growth %	-94.06	-663.68	24.65	60.39	30.43
Net Income, 1 Yr. Growth %	-94.06	-663.68	24.65	60.39	30.43
Normalized Net Income, 1 Yr. Growth %	-91.45	-906.94	19.83	18.77	45.59
Diluted EPS Before Extra, 1 Yr. Growth %	-94.55	-645.79	19.82	50.69	26.99
Accounts Receivable, 1 Yr. Growth %	79.01	50.79	28.38	9.67	7.11
Inventory, 1 Yr. Growth %	75.1	70.04	15.81	11.07	22.06
Net Property, Plant and Equip., 1 Yr. Growth %	14.59	29.52	24.75	9.39	17.14
Total Assets, 1 Yr. Growth %	10.21	40.56	12.99	8.99	9.11
Tangible Book Value, 1 Yr. Growth %	31.56	-274.37	108.68	-124.32	397.29
Common Equity, 1 Yr. Growth %	1.63	14.65	13.24	18.25	12.4
Cash From Operations, 1 Yr. Growth %	-146.41	-216.26	166.44	148.32	-15.58
Capital Expenditures, 1 Yr. Growth %	451.46	18.16	25.26	-13.79	-16.32
Levered Free Cash Flow, 1 Yr. Growth %	-206.05	61.19	-96.65	-2.95K	-20.83
Unlevered Free Cash Flow, 1 Yr. Growth %	-175.54	35.38	-139.95	362.62	-19.22
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.72	53.33	40.25	20.49	9.93
Gross Profit, 2 Yr. CAGR %	0.51	53.44	44.42	21.56	11.03
EBITDA, 2 Yr. CAGR %	-29.2	107.72	102.12	19.15	20.2
EBITA, 2 Yr. CAGR %	-41.6	57.6	138.86	15.85	17.41
EBIT, 2 Yr. CAGR %	-56.52	29.57	224.94	13.34	20.07
Earnings From Cont. Operations, 2 Yr. CAGR %	-54.89	-42.14	165.07	41.39	44.64
Net Income, 2 Yr. CAGR %	-54.89	-42.14	165.07	41.39	44.64
Normalized Net Income, 2 Yr. CAGR %	-57.94	-16.93	206.62	19.3	35.11
Diluted EPS Before Extra, 2 Yr. CAGR %	-59.36	-45.48	155.73	34.37	38.33
Accounts Receivable, 2 Yr. CAGR %	-0.72	64.3	39.14	18.66	8.38
Inventory, 2 Yr. CAGR %	7.92	72.55	40.33	13.41	16.43
Net Property, Plant and Equip., 2 Yr. CAGR %	9.49	21.83	27.12	16.82	13.2
Total Assets, 2 Yr. CAGR %	2.92	24.46	26.02	10.97	9.05
Tangible Book Value, 2 Yr. CAGR %	549.87	51.46	90.75	-28.76	9.97
Common Equity, 2 Yr. CAGR %	2.1	7.94	13.94	15.72	15.29
Cash From Operations, 2 Yr. CAGR %	-33.51	-26.55	76	157.22	44.79
Capital Expenditures, 2 Yr. CAGR %	55.35	155.27	21.66	3.91	-15.07
Levered Free Cash Flow, 2 Yr. CAGR %	64.62	30.74	-77.07	-2.2	262.97
Unlevered Free Cash Flow, 2 Yr. CAGR %	25.54	1.13	-26.55	35.95	102.18
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.52	17.97	45.64	29.53	16.66
Gross Profit, 3 Yr. CAGR %	3.82	16.97	45.81	32.78	17.52
EBITDA, 3 Yr. CAGR %	-16.97	18.46	74.23	67.87	20.11
EBITA, 3 Yr. CAGR %	-27.45	17.53	43.48	86.03	16.88
EBIT, 3 Yr. CAGR %	-40.17	20.28	23.67	129.17	16.32
Earnings From Cont. Operations, 3 Yr. CAGR %	-37.74	4.68	-25.28	124.2	37.64
Net Income, 3 Yr. CAGR %	-37.74	4.68	-25.28	124.2	37.64
Normalized Net Income, 3 Yr. CAGR %	-38.56	12.6	-6.15	123.51	27.49
Diluted EPS Before Extra, 3 Yr. CAGR %	-42.36	-3.41	-29.11	114.4	31.86
Accounts Receivable, 3 Yr. CAGR %	2.17	14.12	51.33	28.52	14.68
Inventory, 3 Yr. CAGR %	8.66	25.58	51.07	29.8	16.22
Net Property, Plant and Equip., 3 Yr. CAGR %	45.8	15.8	22.79	20.91	16.93
Total Assets, 3 Yr. CAGR %	13.6	14.19	20.51	20.07	10.35
Tangible Book Value, 3 Yr. CAGR %	61.38	319.16	68.54	-4	36.15
Common Equity, 3 Yr. CAGR %	4.3	6.12	9.68	15.36	14.6
Cash From Operations, 3 Yr. CAGR %	-23.86	-19.9	12.86	97.4	77.43
Capital Expenditures, 3 Yr. CAGR %	25.1	41.81	101.34	8.46	-3.32
Levered Free Cash Flow, 3 Yr. CAGR %	45.37	63.47	-61.25	14.44	-8.85
Unlevered Free Cash Flow, 3 Yr. CAGR %	18.89	28.74	-25.79	35.65	14.29
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.91	14.96	18.91	18.97	30.14
Gross Profit, 5 Yr. CAGR %	5.33	13.44	18.48	18.78	30.75
EBITDA, 5 Yr. CAGR %	-9.26	17.26	18.4	18.73	49.53
EBITA, 5 Yr. CAGR %	-16.57	16.51	16.66	16.85	31.72
EBIT, 5 Yr. CAGR %	-25.62	19.54	17.31	17.45	21.45
Earnings From Cont. Operations, 5 Yr. CAGR %	10.24	14.07	11.14	18.06	-2.68
Net Income, 5 Yr. CAGR %	10.24	14.07	11.14	18.06	-2.68
Normalized Net Income, 5 Yr. CAGR %	4.03	25.32	17.52	15.23	7.4
Diluted EPS Before Extra, 5 Yr. CAGR %	2.81	6.12	4.6	10.23	-7.38
Accounts Receivable, 5 Yr. CAGR %	6.15	12.85	15.61	15.92	32.42
Inventory, 5 Yr. CAGR %	10.55	19.2	20.37	20.56	36.13
Net Property, Plant and Equip., 5 Yr. CAGR %	33.56	38.01	38.02	16.2	18.86
Total Assets, 5 Yr. CAGR %	11.13	17.02	18.42	12.89	15.79
Tangible Book Value, 5 Yr. CAGR %	-26.04	-10.25	72.55	106.3	42.08
Common Equity, 5 Yr. CAGR %	12.57	10.06	8.05	9.86	11.89
Cash From Operations, 5 Yr. CAGR %	-12.55	-5.99	6.46	27.74	24.68
Capital Expenditures, 5 Yr. CAGR %	18.48	30.08	23.71	25.22	42.56
Levered Free Cash Flow, 5 Yr. CAGR %	266.02	47.93	-29.96	33.49	5.6
Unlevered Free Cash Flow, 5 Yr. CAGR %	14.22	20.73	-1.89	31.58	8.84