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Chefs' Warehouse, Inc.（CHEF）与UNITED NATURAL FOODS INC（UNFI）财务数据对比。点击上方公司名可切换其他公司
UNITED NATURAL FOODS INC的季度营收约是Chefs' Warehouse, Inc.的6.9倍（$7.8B vs $1.1B）。Chefs' Warehouse, Inc.净利率更高（1.9% vs -0.1%，领先1.9%）。Chefs' Warehouse, Inc.同比增速更快（10.5% vs -0.4%）。Chefs' Warehouse, Inc.自由现金流更多（$65.8M vs $-54.0M）。过去两年Chefs' Warehouse, Inc.的营收复合增速更高（14.3% vs 2.3%）
Chefs' Warehouse, Inc. 是一家北美专业食品分销商，服务对象包括独立餐厅、高端餐饮场所、酒店、餐饮服务商等食品服务运营商，供应超15万种精选产品，涵盖手工食材、特色肉类、海鲜、乳制品、进口高端美食等，适配专业厨师的使用需求。
联合天然食品公司（UNFI）总部位于美国罗德岛州普罗维登斯，是北美知名的天然有机食品企业，也是美国和加拿大规模最大的上市健康及特色食品批发经销商，是全食超市的核心供应商，2018年来自全食的业务收入占其总营收的三分之一以上。
CHEF vs UNFI — 直观对比
营收规模更大
UNFI
是对方的6.9倍
$1.1B
营收增速更快
CHEF
高出10.9%
-0.4%
净利率更高
CHEF
高出1.9%
-0.1%
自由现金流更多
CHEF
多$119.8M
$-54.0M
两年增速更快
CHEF
近两年复合增速
2.3%
损益表 — Q4 2025 vs Q2 2026
| 指标 | | |
|---|---|---|
| 营收 | $1.1B | $7.8B |
| 净利润 | $21.7M | $-4.0M |
| 毛利率 | 24.2% | 13.4% |
| 营业利润率 | 3.8% | 0.2% |
| 净利率 | 1.9% | -0.1% |
| 营收同比 | 10.5% | -0.4% |
| 净利润同比 | -9.4% | 81.0% |
| 每股收益（稀释后） | $0.50 | $-0.06 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CHEFUNFI
| Q4 25 | $1.1B | $7.8B | ||
| Q3 25 | $1.0B | $7.7B | ||
| Q2 25 | $1.0B | $8.1B | ||
| Q1 25 | $950.7M | $8.2B | ||
| Q4 24 | $1.0B | $7.9B | ||
| Q3 24 | $931.5M | $8.2B | ||
| Q2 24 | $954.7M | $7.5B | ||
| Q1 24 | $874.5M | — |
净利润CHEFUNFI
| Q4 25 | $21.7M | $-4.0M | ||
| Q3 25 | $19.1M | $-87.0M | ||
| Q2 25 | $21.2M | $-7.0M | ||
| Q1 25 | $10.3M | $-3.0M | ||
| Q4 24 | $23.9M | $-21.0M | ||
| Q3 24 | $14.1M | $-37.0M | ||
| Q2 24 | $15.5M | $-21.0M | ||
| Q1 24 | $1.9M | — |
毛利率CHEFUNFI
| Q4 25 | 24.2% | 13.4% | ||
| Q3 25 | 24.2% | 13.4% | ||
| Q2 25 | 24.6% | 13.4% | ||
| Q1 25 | 23.8% | 13.1% | ||
| Q4 24 | 24.3% | 13.2% | ||
| Q3 24 | 24.1% | 13.7% | ||
| Q2 24 | 24.0% | 13.6% | ||
| Q1 24 | 23.9% | — |
营业利润率CHEFUNFI
| Q4 25 | 3.8% | 0.2% | ||
| Q3 25 | 3.8% | -1.0% | ||
| Q2 25 | 3.9% | 0.2% | ||
| Q1 25 | 2.4% | 0.3% | ||
| Q4 24 | 4.5% | 0.1% | ||
| Q3 24 | 3.4% | 0.0% | ||
| Q2 24 | 3.5% | 0.1% | ||
| Q1 24 | 1.8% | — |
净利率CHEFUNFI
| Q4 25 | 1.9% | -0.1% | ||
| Q3 25 | 1.9% | -1.1% | ||
| Q2 25 | 2.1% | -0.1% | ||
| Q1 25 | 1.1% | -0.0% | ||
| Q4 24 | 2.3% | -0.3% | ||
| Q3 24 | 1.5% | -0.5% | ||
| Q2 24 | 1.6% | -0.3% | ||
| Q1 24 | 0.2% | — |
每股收益（稀释后）CHEFUNFI
| Q4 25 | $0.50 | $-0.06 | ||
| Q3 25 | $0.44 | $-1.43 | ||
| Q2 25 | $0.49 | $-0.12 | ||
| Q1 25 | $0.25 | $-0.05 | ||
| Q4 24 | $0.56 | $-0.35 | ||
| Q3 24 | $0.34 | $-0.63 | ||
| Q2 24 | $0.37 | $-0.34 | ||
| Q1 24 | $0.05 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $121.0M | $38.0M |
| 总债务越低越好 | $720.3M | $1.9B |
| 股东权益账面价值 | $604.3M | $1.5B |
| 总资产 | $2.0B | $7.6B |
| 负债/权益比越低杠杆越低 | 1.19× | 1.24× |
8季度趋势，按日历期对齐
现金及短期投资CHEFUNFI
| Q4 25 | $121.0M | $38.0M | ||
| Q3 25 | $65.1M | $44.0M | ||
| Q2 25 | $96.9M | $52.0M | ||
| Q1 25 | $116.5M | $44.0M | ||
| Q4 24 | $114.7M | $37.0M | ||
| Q3 24 | $50.7M | $40.0M | ||
| Q2 24 | $38.3M | $39.0M | ||
| Q1 24 | $42.3M | — |
总债务CHEFUNFI
| Q4 25 | $720.3M | $1.9B | ||
| Q3 25 | $711.7M | $1.9B | ||
| Q2 25 | $690.2M | $2.0B | ||
| Q1 25 | $681.1M | $2.1B | ||
| Q4 24 | $688.7M | $2.2B | ||
| Q3 24 | $666.6M | $2.1B | ||
| Q2 24 | $660.8M | $2.1B | ||
| Q1 24 | $667.3M | — |
股东权益CHEFUNFI
| Q4 25 | $604.3M | $1.5B | ||
| Q3 25 | $576.6M | $1.6B | ||
| Q2 25 | $557.7M | $1.6B | ||
| Q1 25 | $541.6M | $1.6B | ||
| Q4 24 | $537.6M | $1.6B | ||
| Q3 24 | $480.3M | $1.6B | ||
| Q2 24 | $461.9M | $1.7B | ||
| Q1 24 | $447.8M | — |
总资产CHEFUNFI
| Q4 25 | $2.0B | $7.6B | ||
| Q3 25 | $1.9B | $7.6B | ||
| Q2 25 | $1.9B | $7.6B | ||
| Q1 25 | $1.8B | $7.7B | ||
| Q4 24 | $1.9B | $8.0B | ||
| Q3 24 | $1.8B | $7.5B | ||
| Q2 24 | $1.7B | $7.6B | ||
| Q1 24 | $1.7B | — |
负债/权益比CHEFUNFI
| Q4 25 | 1.19× | 1.24× | ||
| Q3 25 | 1.23× | 1.20× | ||
| Q2 25 | 1.24× | 1.21× | ||
| Q1 25 | 1.26× | 1.27× | ||
| Q4 24 | 1.28× | 1.38× | ||
| Q3 24 | 1.39× | 1.27× | ||
| Q2 24 | 1.43× | 1.28× | ||
| Q1 24 | 1.49× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $73.9M | $-38.0M |
| 自由现金流经营现金流 - 资本支出 | $65.8M | $-54.0M |
| 自由现金流率自由现金流/营收 | 5.8% | -0.7% |
| 资本支出强度资本支出/营收 | 0.7% | 0.2% |
| 现金转化率经营现金流/净利润 | 3.41× | — |
| 过去12个月自由现金流最近4个季度 | $87.8M | $344.0M |
8季度趋势，按日历期对齐
经营现金流CHEFUNFI
| Q4 25 | $73.9M | $-38.0M | ||
| Q3 25 | $-8.7M | $160.0M | ||
| Q2 25 | $14.5M | $173.0M | ||
| Q1 25 | $49.6M | $247.0M | ||
| Q4 24 | $73.0M | $-110.0M | ||
| Q3 24 | $19.8M | $199.0M | ||
| Q2 24 | $29.3M | $125.0M | ||
| Q1 24 | $30.9M | — |
自由现金流CHEFUNFI
| Q4 25 | $65.8M | $-54.0M | ||
| Q3 25 | $-19.7M | $86.0M | ||
| Q2 25 | $4.5M | $119.0M | ||
| Q1 25 | $37.2M | $193.0M | ||
| Q4 24 | $64.6M | $-159.0M | ||
| Q3 24 | $11.8M | $71.0M | ||
| Q2 24 | $13.3M | $49.0M | ||
| Q1 24 | $13.8M | — |
自由现金流率CHEFUNFI
| Q4 25 | 5.8% | -0.7% | ||
| Q3 25 | -1.9% | 1.1% | ||
| Q2 25 | 0.4% | 1.5% | ||
| Q1 25 | 3.9% | 2.4% | ||
| Q4 24 | 6.3% | -2.0% | ||
| Q3 24 | 1.3% | 0.9% | ||
| Q2 24 | 1.4% | 0.7% | ||
| Q1 24 | 1.6% | — |
资本支出强度CHEFUNFI
| Q4 25 | 0.7% | 0.2% | ||
| Q3 25 | 1.1% | 1.0% | ||
| Q2 25 | 1.0% | 0.7% | ||
| Q1 25 | 1.3% | 0.7% | ||
| Q4 24 | 0.8% | 0.6% | ||
| Q3 24 | 0.9% | 1.6% | ||
| Q2 24 | 1.7% | 1.0% | ||
| Q1 24 | 2.0% | — |
现金转化率CHEFUNFI
| 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× | — | ||
| Q1 24 | 16.00× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CHEF
| Center Of The Plate Product | $459.1M | 40% |
| Dry Goods Product | $175.7M | 15% |
| Pastry Product | $160.5M | 14% |
| Produce | $147.9M | 13% |
| Cheese And Charcuterie Product | $75.3M | 7% |
| Dairy And Eggs Product | $69.2M | 6% |
| Oils And Vinegar Product | $32.4M | 3% |
| Kitchen Supplies Product | $22.4M | 2% |
UNFI
| Natural Segment | $4.3B | 55% |
| Conventional Segment | $3.1B | 40% |
| Retail Segment | $560.0M | 7% |
