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Side-by-side financial comparison of Chefs' Warehouse, Inc. (CHEF) and Lineage, Inc. (LINE). Click either name above to swap in a different company.
Lineage, Inc. is the larger business by last-quarter revenue ($1.4B vs $1.1B, roughly 1.3× Chefs' Warehouse, Inc.). Chefs' Warehouse, Inc. runs the higher net margin — 1.6% vs -7.3%, a 8.9% gap on every dollar of revenue. On growth, Chefs' Warehouse, Inc. posted the faster year-over-year revenue change (11.4% vs 3.1%).
Chefs' Warehouse, Inc. is a leading North American specialty food distributor that primarily serves independent restaurants, fine dining venues, hotels, catering firms, and other foodservice operators. It offers a curated portfolio of over 150,000 products including artisanal ingredients, specialty meats, seafood, dairy, pastries, and imported gourmet goods tailored for professional chefs.
Norwegian Cruise Line Holdings (NCLH) is a holding company that is based in the United States and domiciled in Bermuda. It operates three cruise lines as wholly owned subsidiaries: Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises. With its subsidiaries combined, it is the third-largest cruise operator in the world. It is a publicly traded company listed on the New York Stock Exchange.
CHEF vs LINE — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.4B |
| Net Profit | $17.4M | $-100.0M |
| Gross Margin | 24.3% | 32.3% |
| Operating Margin | 3.1% | 2.5% |
| Net Margin | 1.6% | -7.3% |
| Revenue YoY | 11.4% | 3.1% |
| Net Profit YoY | 68.8% | 79.4% |
| EPS (diluted) | $0.40 | $-0.44 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.0B | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $950.7M | $1.3B | ||
| Q4 24 | $1.0B | $1.3B | ||
| Q3 24 | $931.5M | $1.3B | ||
| Q2 24 | $954.7M | $1.3B |
| Q1 26 | $17.4M | — | ||
| Q4 25 | $21.7M | — | ||
| Q3 25 | $19.1M | $-100.0M | ||
| Q2 25 | $21.2M | $-6.0M | ||
| Q1 25 | $10.3M | $0 | ||
| Q4 24 | $23.9M | $-71.0M | ||
| Q3 24 | $14.1M | $-485.0M | ||
| Q2 24 | $15.5M | $-68.0M |
| Q1 26 | 24.3% | — | ||
| Q4 25 | 24.2% | — | ||
| Q3 25 | 24.2% | 32.3% | ||
| Q2 25 | 24.6% | 31.9% | ||
| Q1 25 | 23.8% | 32.2% | ||
| Q4 24 | 24.3% | 32.3% | ||
| Q3 24 | 24.1% | 32.8% | ||
| Q2 24 | 24.0% | 33.4% |
| Q1 26 | 3.1% | — | ||
| Q4 25 | 3.8% | — | ||
| Q3 25 | 3.8% | 2.5% | ||
| Q2 25 | 3.9% | 1.7% | ||
| Q1 25 | 2.4% | 4.3% | ||
| Q4 24 | 4.5% | -1.6% | ||
| Q3 24 | 3.4% | -38.6% | ||
| Q2 24 | 3.5% | 5.5% |
| Q1 26 | 1.6% | — | ||
| Q4 25 | 1.9% | — | ||
| Q3 25 | 1.9% | -7.3% | ||
| Q2 25 | 2.1% | -0.4% | ||
| Q1 25 | 1.1% | — | ||
| Q4 24 | 2.3% | -5.3% | ||
| Q3 24 | 1.5% | -36.3% | ||
| Q2 24 | 1.6% | -5.1% |
| Q1 26 | $0.40 | — | ||
| Q4 25 | $0.50 | — | ||
| Q3 25 | $0.44 | $-0.44 | ||
| Q2 25 | $0.49 | $-0.03 | ||
| Q1 25 | $0.25 | $0.01 | ||
| Q4 24 | $0.56 | $-0.52 | ||
| Q3 24 | $0.34 | $-2.44 | ||
| Q2 24 | $0.37 | $-0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $122.7M | — |
| Total DebtLower is stronger | $750.4M | — |
| Stockholders' EquityBook value | $608.6M | $8.4B |
| Total Assets | $2.0B | $19.2B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $122.7M | — | ||
| Q4 25 | $121.0M | — | ||
| Q3 25 | $65.1M | — | ||
| Q2 25 | $96.9M | — | ||
| Q1 25 | $116.5M | — | ||
| Q4 24 | $114.7M | $173.0M | ||
| Q3 24 | $50.7M | $409.0M | ||
| Q2 24 | $38.3M | $73.0M |
| Q1 26 | $750.4M | — | ||
| Q4 25 | $720.3M | — | ||
| Q3 25 | $711.7M | — | ||
| Q2 25 | $690.2M | — | ||
| Q1 25 | $681.1M | — | ||
| Q4 24 | $688.7M | — | ||
| Q3 24 | $666.6M | — | ||
| Q2 24 | $660.8M | — |
| Q1 26 | $608.6M | — | ||
| Q4 25 | $604.3M | — | ||
| Q3 25 | $576.6M | $8.4B | ||
| Q2 25 | $557.7M | $8.6B | ||
| Q1 25 | $541.6M | $8.6B | ||
| Q4 24 | $537.6M | $8.6B | ||
| Q3 24 | $480.3M | $9.0B | ||
| Q2 24 | $461.9M | $4.9B |
| Q1 26 | $2.0B | — | ||
| Q4 25 | $2.0B | — | ||
| Q3 25 | $1.9B | $19.2B | ||
| Q2 25 | $1.9B | $19.4B | ||
| Q1 25 | $1.8B | $18.8B | ||
| Q4 24 | $1.9B | $18.7B | ||
| Q3 24 | $1.8B | $19.3B | ||
| Q2 24 | $1.7B | $18.8B |
| Q1 26 | 1.23× | — | ||
| Q4 25 | 1.19× | — | ||
| Q3 25 | 1.23× | — | ||
| Q2 25 | 1.24× | — | ||
| Q1 25 | 1.26× | — | ||
| Q4 24 | 1.28× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 1.43× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $38.3M | $230.0M |
| Free Cash FlowOCF − Capex | — | $35.0M |
| FCF MarginFCF / Revenue | — | 2.5% |
| Capex IntensityCapex / Revenue | 0.7% | 14.2% |
| Cash ConversionOCF / Net Profit | 2.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $38.3M | — | ||
| Q4 25 | $73.9M | — | ||
| Q3 25 | $-8.7M | $230.0M | ||
| Q2 25 | $14.5M | $258.0M | ||
| Q1 25 | $49.6M | $139.0M | ||
| Q4 24 | $73.0M | — | ||
| Q3 24 | $19.8M | $186.0M | ||
| Q2 24 | $29.3M | $155.0M |
| Q1 26 | — | — | ||
| Q4 25 | $65.8M | — | ||
| Q3 25 | $-19.7M | $35.0M | ||
| Q2 25 | $4.5M | $95.0M | ||
| Q1 25 | $37.2M | $-12.0M | ||
| Q4 24 | $64.6M | — | ||
| Q3 24 | $11.8M | $33.0M | ||
| Q2 24 | $13.3M | $-31.0M |
| Q1 26 | — | — | ||
| Q4 25 | 5.8% | — | ||
| Q3 25 | -1.9% | 2.5% | ||
| Q2 25 | 0.4% | 7.0% | ||
| Q1 25 | 3.9% | -0.9% | ||
| Q4 24 | 6.3% | — | ||
| Q3 24 | 1.3% | 2.5% | ||
| Q2 24 | 1.4% | -2.3% |
| Q1 26 | 0.7% | — | ||
| Q4 25 | 0.7% | — | ||
| Q3 25 | 1.1% | 14.2% | ||
| Q2 25 | 1.0% | 12.1% | ||
| Q1 25 | 1.3% | 11.7% | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 0.9% | 11.5% | ||
| Q2 24 | 1.7% | 13.9% |
| Q1 26 | 2.20× | — | ||
| Q4 25 | 3.41× | — | ||
| Q3 25 | -0.46× | — | ||
| Q2 25 | 0.68× | — | ||
| Q1 25 | 4.82× | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | 1.41× | — | ||
| Q2 24 | 1.89× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CHEF
Segment breakdown not available.
LINE
| Warehousing Operations | $883.0M | 64% |
| Other | $308.0M | 22% |
| Warehouse Lease | $60.0M | 4% |
| Food Sales | $52.0M | 4% |
| E Commerce And Other | $46.0M | 3% |
| Railcar Lease | $23.0M | 2% |
| Service Other | $5.0M | 0% |
