Income Statement US Foods Holding Corp.

Equities

USFD

US9120081099

Food Retail & Distribution

Market Closed - Nyse Other stock markets 21:00:02 06/09/2024 BST			5-day change	1st Jan Change
57.11 ^USD	-2.38%		-3.55%	+25.77%

08-13	US Foods Launches $211 Million Buyback of Shares From Sachem Head Capital	MT
08-09	Lightspeed Commerce, US Foods Enter Restaurant Technology Collaboration	MT

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Published financial data: US FOODS HOLDING CORP.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	25.94B	22.88B	29.49B	34.06B	35.6B
Total Revenues	25.94B	22.88B	29.49B	34.06B	35.6B
Cost of Goods Sold, Total	21.35B	19.12B	24.83B	28.56B	29.45B
Gross Profit	4.59B	3.77B	4.66B	5.49B	6.15B
Selling General & Admin Expenses, Total	3.75B	3.57B	4.11B	4.78B	5.02B
Depreciation & Amortization - (IS)	76M	79M	73M	70M	86M
Other Operating Expenses, Total	3.83B	3.65B	4.18B	4.85B	5.1B
Operating Income	759M	122M	470M	644M	1.04B
Interest Expense, Total	-184M	-233M	-213M	-255M	-324M
Net Interest Expenses	-184M	-233M	-213M	-255M	-324M
Other Non Operating Income (Expenses)	-	-1M	1M	-	-
EBT, Excl. Unusual Items	575M	-112M	258M	389M	719M
Restructuring Charges	-	-30M	-4M	-3M	-14M
Merger & Related Restructuring Charges	-52M	-45M	-22M	-16M	-6M
Gain (Loss) On Sale Of Assets	-	17M	-	-	-
Asset Writedown	-	-9M	-7M	-9M	-
Insurance Settlements	-	-	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-12M	-115M	-11M	-	-21M
EBT, Incl. Unusual Items	511M	-294M	214M	361M	678M
Income Tax Expense	126M	-68M	50M	96M	172M
Earnings From Continuing Operations	385M	-226M	164M	265M	506M
Net Income to Company	385M	-226M	164M	265M	506M
Net Income - (IS)	385M	-226M	164M	265M	506M
Preferred Dividend and Other Adjustments	-	28M	43M	37M	7M
Net Income to Common Incl Extra Items	385M	-254M	121M	228M	499M
Net Income to Common Excl. Extra Items	385M	-254M	121M	228M	499M
Per Share Items
Net EPS - Basic	1.77	-1.15	0.55	1.02	2.09
Basic EPS - Continuing Operations	1.77	-1.15	0.55	1.02	2.09
Basic Weighted Average Shares Outstanding	218M	220M	222M	224M	239M
Net EPS - Diluted	1.75	-1.15	0.54	1.01	2.02
Diluted EPS - Continuing Operations	1.75	-1.15	0.54	1.01	2.02
Diluted Weighted Average Shares Outstanding	220M	220M	225M	226M	250M
Normalized Basic EPS	1.65	-0.32	0.73	1.09	1.88
Normalized Diluted EPS	1.63	-0.32	0.72	1.08	1.8
Payout Ratio	-	-	17.07	13.96	1.38
Supplemental Items
EBITDA	1.12B	544M	848M	1.02B	1.44B
EBITA	810M	201M	525M	689M	1.09B
EBIT	759M	122M	470M	644M	1.04B
EBITDAR	1.16B	609M	918M	1.1B	1.51B
Effective Tax Rate - (Ratio)	24.66	23.13	23.36	26.59	25.37
Current Domestic Taxes	119M	-17M	12M	79M	163M
Total Current Taxes	119M	-17M	12M	79M	163M
Deferred Domestic Taxes	7M	-51M	38M	17M	9M
Total Deferred Taxes	7M	-51M	38M	17M	9M
Normalized Net Income	359M	-70M	161M	243M	449M
Interest Capitalized	2M	-	-	-	-
Interest on Long-Term Debt	14M	12M	10M	11M	22M
Non-Cash Pension Expense	4M	-22M	-25M	-22M	-6M
Supplemental Operating Expense Items
Marketing Expenses	-	-	-	-	-
Selling and Marketing Expenses	1.8B	1.7B	2B	2.3B	2.4B
Net Rental Expense, Total	35M	65M	70M	81M	73M
Imputed Operating Lease Interest Expense	11.91M	21.41M	20.45M	30.64M	36M
Imputed Operating Lease Depreciation	23.09M	43.59M	49.55M	50.36M	37M
Stock-Based Comp., SG&A Exp. (Total)	32M	40M	48M	45M	56M
Total Stock-Based Compensation	32M	40M	48M	45M	56M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	90M	828M	148M	211M	269M
Trading Asset Securities, Total	-	-	-	-	1M
Total Cash And Short Term Investments	90M	828M	148M	211M	270M
Accounts Receivable, Total	1.46B	1.08B	1.47B	1.7B	1.85B
Other Receivables	143M	121M	145M	143M	156M
Total Receivables	1.6B	1.2B	1.61B	1.85B	2.01B
Inventory	1.43B	1.27B	1.69B	1.62B	1.6B
Prepaid Expenses	109M	132M	120M	124M	138M
Other Current Assets, Total	33M	27M	26M	21M	13M
Total Current Assets	3.26B	3.46B	3.59B	3.82B	4.03B
Gross Property Plant And Equipment	4.52B	4.87B	5.03B	5.42B	5.79B
Accumulated Depreciation	-2.3B	-2.57B	-2.72B	-2.98B	-3.22B
Net Property Plant And Equipment	2.22B	2.3B	2.31B	2.44B	2.57B
Long-term Investments	-	-	-	-	-
Goodwill	4.73B	5.64B	5.62B	5.62B	5.7B
Other Intangibles, Total	967M	892M	830M	785M	803M
Accounts Receivable Long-Term	39M	27M	26M	29M	39M
Deferred Tax Assets Long-Term	-	1M	8M	-	-
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	72M	96M	130M	78M	47M
Total Assets	11.29B	12.42B	12.52B	12.77B	13.19B
Liabilities
Accounts Payable, Total	1.46B	1.22B	1.66B	1.86B	2.05B
Accrued Expenses, Total	472M	389M	504M	579M	624M
Short-term Borrowings	222M	136M	183M	175M	220M
Current Portion of Long-Term Debt	47M	45M	23M	24M	15M
Current Portion of Leases	135M	130M	108M	128M	138M
Deferred Tax Liability Current	-	-	-	-	-
Other Current Liabilities	26M	64M	70M	35M	64M
Total Current Liabilities	2.36B	1.98B	2.55B	2.8B	3.11B
Long-Term Debt	4.34B	5.38B	4.7B	4.38B	4.2B
Long-Term Leases	388M	500M	464M	600M	632M
Pension & Other Post Retirement Benefits	7M	8M	6M	5M	5M
Deferred Tax Liability Non Current	308M	270M	307M	298M	293M
Other Non Current Liabilities	177M	234M	229M	195M	199M
Total Liabilities	7.58B	8.37B	8.25B	8.28B	8.44B
Preferred Stock Convertible	-	519M	534M	534M	-
Total Preferred Equity	-	519M	534M	534M	-
Common Stock, Total	2M	2M	2M	2M	3M
Additional Paid In Capital	2.84B	2.9B	2.97B	3.04B	3.66B
Retained Earnings	916M	661M	782M	1.01B	1.51B
Treasury Stock	-	-	-	-14M	-311M
Comprehensive Income and Other	-54M	-34M	-19M	-73M	-115M
Total Common Equity	3.71B	3.53B	3.74B	3.96B	4.75B
Total Equity	3.71B	4.05B	4.27B	4.5B	4.75B
Total Liabilities And Equity	11.29B	12.42B	12.52B	12.77B	13.19B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	220M	221M	223M	224M	245M
ECS Total Common Shares Outstanding	220M	221M	223M	224M	245M
Book Value / Share	16.86	15.97	16.75	17.64	19.38
Tangible Book Value	-1.99B	-3B	-2.72B	-2.45B	-1.75B
Tangible Book Value Per Share	-9.03	-13.57	-12.2	-10.91	-7.14
Total Debt	5.13B	6.19B	5.47B	5.31B	5.2B
Net Debt	5.04B	5.36B	5.33B	5.1B	4.93B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-20M	-51M	-87M	-33M	17M
Debt Equivalent Oper. Leases	280M	520M	560M	648M	584M
Account Code - Inventory Valuation	4	4	4	4	4
LIFO Reserve, Total	-152M	-177M	-342M	-489M	-488M
Land - (BS)	378M	365M	379M	397M	401M
Buildings, Total	1.38B	1.44B	1.49B	1.64B	1.62B
Machinery, Total	1.91B	2.11B	2.17B	2.38B	2.63B
Full Time Employees	28K	26K	28K	29K	30K
Part Time Employees	-	-	-	-	-
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	30M	67M	33M	30M	18M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	385M	-226M	164M	265M	506M
Depreciation & Amortization - CF	311M	343M	323M	327M	349M
Amortization of Goodwill and Intangible Assets - (CF)	51M	79M	55M	45M	46M
Depreciation & Amortization, Total	362M	422M	378M	372M	395M
Amortization of Deferred Charges, Total - (CF)	7M	16M	15M	12M	17M
(Gain) Loss From Sale Of Asset	-1M	-17M	-1M	-5M	-6M
Asset Writedown & Restructuring Costs	1M	12M	8M	10M	1M
Stock-Based Compensation (CF)	32M	40M	48M	45M	56M
Provision and Write-off of Bad Debts	21M	63M	-24M	6M	24M
Other Operating Activities, Total	7M	-51M	61M	17M	30M
Change In Accounts Receivable	-19M	334M	-386M	-240M	-157M
Change In Inventories	16M	201M	-413M	70M	61M
Change In Accounts Payable	-56M	-339M	471M	193M	200M
Change in Other Net Operating Assets	5M	-42M	98M	20M	13M
Cash from Operations	760M	413M	419M	765M	1.14B
Capital Expenditure	-258M	-189M	-274M	-265M	-309M
Sale of Property, Plant, and Equipment	103M	51M	12M	10M	10M
Cash Acquisitions	-1.83B	-972M	-	-	-196M
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-1.99B	-1.11B	-262M	-255M	-495M
Short Term Debt Issued, Total	-	-	-	-	1.04B
Long-Term Debt Issued, Total	6.2B	3.64B	2.3B	1.21B	456M
Total Debt Issued	6.2B	3.64B	2.3B	1.21B	1.5B
Short Term Debt Repaid, Total	-	-	-	-	-1.04B
Long-Term Debt Repaid, Total	-4.97B	-2.69B	-3.1B	-1.62B	-766M
Total Debt Repaid	-4.97B	-2.69B	-3.1B	-1.62B	-1.81B
Issuance of Common Stock	38M	21M	35M	37M	50M
Repurchase of Common Stock	-5M	-5M	-14M	-30M	-306M
Issuance of Preferred Stock	-	500M	-	-	-
Preferred Dividends Paid	-	-	-28M	-37M	-7M
Common & Preferred Stock Dividends Paid	-	-	-28M	-37M	-7M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-44M	-42M	-30M	-4M	-14M
Cash from Financing	1.22B	1.43B	-837M	-447M	-587M
Net Change in Cash	-7M	730M	-680M	63M	58M
Supplemental Items
Cash Interest Paid	173M	216M	185M	243M	294M
Cash Income Tax Paid (Refund)	137M	-1M	1M	68M	161M
Levered Free Cash Flow	342M	468M	83.62M	477M	726M
Unlevered Free Cash Flow	450M	597M	202M	624M	912M
Change In Net Working Capital	160M	-248M	244M	-70M	-118M
Net Debt Issued / Repaid	1.23B	953M	-800M	-413M	-310M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	4.63	0.64	2.36	3.18	5.02
Return on Total Capital	6.05	0.8	2.94	4.12	6.6
Return On Equity %	11.1	-5.83	3.94	6.05	10.95
Return on Common Equity	11.1	-7.02	3.33	5.93	11.46
Margin Analysis
Gross Profit Margin %	17.68	16.47	15.79	16.13	17.27
SG&A Margin	14.46	15.59	13.95	14.03	14.1
EBITDA Margin %	4.32	2.38	2.88	2.98	4.04
EBITA Margin %	3.12	0.88	1.78	2.02	3.06
EBIT Margin %	2.93	0.53	1.59	1.89	2.93
Income From Continuing Operations Margin %	1.48	-0.99	0.56	0.78	1.42
Net Income Margin %	1.48	-0.99	0.56	0.78	1.42
Net Avail. For Common Margin %	1.48	-1.11	0.41	0.67	1.4
Normalized Net Income Margin	1.39	-0.31	0.55	0.71	1.26
Levered Free Cash Flow Margin	1.32	2.04	0.28	1.4	2.04
Unlevered Free Cash Flow Margin	1.74	2.61	0.68	1.83	2.56
Asset Turnover
Asset Turnover	2.53	1.93	2.36	2.69	2.74
Fixed Assets Turnover	12.77	10.11	12.78	14.36	14.22
Receivables Turnover (Average Receivables)	18.51	18.03	23.1	21.46	20
Inventory Turnover (Average Inventory)	15.75