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United Natural Foods vs Chefs' Warehouse: UNFI and CHEF compared
United Natural Foods is the larger company: $7.6B of revenue in its latest quarter (Q4 FY26) against $1.1B for Chefs' Warehouse (Q3 2026). Chefs' Warehouse is growing faster (+11% against -0.7% a year earlier). Chefs' Warehouse is more profitable, with an operating margin of 4.5% against 0.9%.
Where the money goes: UNFI and CHEF
United Natural Foods (UNFI) · Q4 FY26
United Natural Foods, Q4 FY26: revenue $7.6B (-0.7% year over year), operating margin 0.9%, net earnings $35.0M, operating cash flow $197M. The chart follows the revenue to costs, profit and cash.
Chefs' Warehouse (CHEF) · Q3 2026
Chefs' Warehouse, Q3 2026: revenue $1.1B (+11% year over year), operating margin 4.5%, net earnings $29.6M, operating cash flow $44.5M. The chart follows the revenue to costs, profit and cash.
| United Natural Foods (UNFI) | Chefs' Warehouse (CHEF) | |
|---|---|---|
| Latest quarter | Q4 FY26 | Q3 2026 |
| Revenue | $7.6B | $1.1B |
| Revenue growth, Y/Y | -0.7% | +11% |
| Gross margin | 13.7% | 25.0% |
| Operating margin | 0.9% | 4.5% |
| Net earnings | $35.0M | $29.6M |
| Net margin | 0.5% | 2.6% |
| Operating cash flow | $197M | $44.5M |
| Free cash flow | $80.0M | $36.0M |
| Market value | $2.9B | $4.8B |
| P/E | 34.3× | 44.5× |
| Analysts’ mean target | $53.00 | $126.12 |
Where the revenue comes from
United Natural Foods
- Natural: $4.2B (56%)
- Conventional: $2.9B (37%)
- Retail: $528M (7%)
Chefs' Warehouse
- Total Specialty: $686M (60%)
- Dry Goods: $182M (16%)
- Produce: $152M (13%)
- Cheese and Charcuterie: $78.6M (7%)
Questions
Which is bigger, United Natural Foods or Chefs' Warehouse?
United Natural Foods is the larger company: $7.6B of revenue in its latest quarter (Q4 FY26) against $1.1B for Chefs' Warehouse (Q3 2026).
Is United Natural Foods or Chefs' Warehouse growing faster?
Chefs' Warehouse is growing faster (+11% against -0.7% a year earlier).
Which is more profitable, United Natural Foods or Chefs' Warehouse?
Chefs' Warehouse is more profitable, with an operating margin of 4.5% against 0.9%.
More: United Natural Foods earnings · how United Natural Foods makes money · Chefs' Warehouse earnings · how Chefs' Warehouse makes money
From the companies' latest 10-Q, 10-K or earnings release (10-K filed Sep 14, 2026; 10-Q filed Oct 28, 2026). Fiscal quarters can end on different dates. Not investment advice.