Filing Flows › Chefs' Warehouse (CHEF) › How it makes money
How Chefs' Warehouse (CHEF) makes money
Chefs' Warehouse (CHEF) made $1.1B of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Total Specialty brought in $686M (60%); Dry Goods brought in $182M (16%); Produce brought in $152M (13%). Of every dollar of revenue, 25¢ was left as gross profit, 5¢ was left as operating profit, 3¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Total Specialty | $686M | 60.4% | -2% | +11% |
| ↳ Center-of-the-Plate | $447M | 39.4% | -2% | +14% |
| ↳ Pastry | $145M | 12.8% | -3% | +8% |
| ↳ Dairy and Eggs | $67.8M | 6.0% | -1% | -8% |
| ↳ Kitchen Supplies | $26.4M | 2.3% | +6% | +36% |
| Dry Goods | $182M | 16.0% | -2% | +11% |
| Produce | $152M | 13.4% | -9% | +21% |
| Cheese and Charcuterie | $78.6M | 6.9% | -1% | +3% |
| Oils and Vinegars | $36.7M | 3.2% | -0.3% | +2% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.1B | 100.0% |
| Cost of revenue | $851M | 75.0% |
| Gross profit | $284M | 25.0% |
| Operating expenses | $233M | 20.5% |
| Operating profit | $51.5M | 4.5% |
| Income tax | $12.9M | 1.1% |
| Net earnings | $29.6M | 2.6% |
| Operating cash flow | $44.5M | 3.9% |
| Free cash flow | $36.0M | 3.2% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.1B | +11% |
| Q2 2026 | $1.2B | +13% |
| Q1 2026 | $1.1B | +11% |
| Q4 2025 | $1.1B | +10% |
| Q3 2025 | $1.0B | +10% |
| Q2 2025 | $1.0B | +8% |
| Q1 2025 | $951M | +9% |
From Chefs' Warehouse's 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does Chefs' Warehouse make money?
Chefs' Warehouse (CHEF) made $1.1B of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Total Specialty brought in $686M (60%); Dry Goods brought in $182M (16%); Produce brought in $152M (13%). Of every dollar of revenue, 25¢ was left as gross profit, 5¢ was left as operating profit, 3¢ was left as net earnings.
What is Chefs' Warehouse's biggest business?
Total Specialty: $686M in the third quarter 2026, 60% of revenue, +11% from a year earlier.
What is Chefs' Warehouse's profit margin?
Net earnings were $29.6M, 2.6% of revenue, in the third quarter 2026; the operating margin was 4.5%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.