Filing Flows › United Natural Foods (UNFI) › Q3 FY26 › vs Q3 FY25
United Natural Foods (UNFI) Q3 FY26 vs Q3 FY25 (year over year)
United Natural Foods's revenue fell $336M (-4%) from $8.1B in Q3 FY25 to $7.7B in Q3 FY26. The biggest changes: Conventional −$460M (-14%); Natural +$182M (+4%); Retail −$58.0M (-10%). Gross margin 13.6% against 13.4% (+0.2 pts).
United Natural Foods, Q3 FY26: revenue $7.7B (-4% year over year), operating margin 0.9%, net earnings $33.0M, operating cash flow $98.0M. The chart draws each line against Q3 FY25, the increases inside each band.
Margins
| Q3 FY26 | Q3 FY25 | Change | |
|---|---|---|---|
| Gross margin | 13.6% | 13.4% | +0.2 pts |
| Operating margin | 0.9% | 0.2% | +0.7 pts |
| Net margin | 0.4% | -0.1% | +0.5 pts |
| Free cash flow margin | 0.7% | 1.5% | -0.8 pts |
Every line
| Line | Q3 FY26 | Q3 FY25 | Change | % |
|---|---|---|---|---|
| Natural | $4.3B | $4.1B | $182M | +4% |
| Conventional | $2.9B | $3.3B | −$460M | -14% |
| Retail | $515M | $573M | −$58.0M | -10% |
| Revenue | $7.7B | $8.1B | −$336M | -4% |
| Gross profit | $1.0B | $1.1B | −$33.0M | -3% |
| Cost of revenue | $6.7B | $7.0B | −$303M | -4% |
| Operating profit | $66.0M | $15.0M | $51.0M | +340% |
| Operating expenses | $983M | $1.1B | −$84.0M | -8% |
| Pre-tax earnings | $42.0M | −$16.0M | $58.0M | — |
| Other expense, net | $24.0M | $31.0M | −$7.0M | -23% |
| Net earnings | $33.0M | −$7.0M | $40.0M | — |
| Income tax | $9.0M | −$9.0M | $18.0M | — |
| Operating cash sources | $141M | $101M | $40.0M | +40% |
| Depreciation & amortization | $90.0M | $98.0M | −$8.0M | -8% |
| Share-based compensation | $18.0M | $10.0M | $8.0M | +80% |
| Working capital & other | $43.0M | −$72.0M | $115M | — |
| Operating cash flow | $98.0M | $173M | −$75.0M | -43% |
| Free cash flow (OCF − capex) | $54.0M | $119M | −$65.0M | -55% |
| Capital expenditures | $44.0M | $54.0M | −$10.0M | -19% |
Questions
How much did United Natural Foods's revenue grow year over year in Q3 FY26?
United Natural Foods's revenue fell $336M (-4%) from $8.1B in Q3 FY25 to $7.7B in Q3 FY26.
What drove United Natural Foods's revenue change in Q3 FY26?
Conventional −$460M (-14%); Natural +$182M (+4%); Retail −$58.0M (-10%).