Performance Food Group Co

Listed Company

PFGCCIK 0001618673NYSELarge AcceleratedWholesale-Groceries, General LineDelawareFY ends Jun 27

Period

FY 2025

Revenue

—

Net Income

$340.20M

Total Assets

$17.88B

Equity

$4.47B

Shares Out

157.10M

Op. Cash Flow

$1.21B

Business

Performance Food Group Co markets and distributes food and food-related products to the food-away-from-home industry through its subsidiaries and distribution network. It offers a broad assortment including center-of-the-plate proteins, frozen and refrigerated foods, dry groceries, disposables, cleaning and kitchen supplies, proprietary Performance Brands, and value-added services such as product selection, procurement, menu development, and operational strategy. The company operates three reportable segments: Foodservice, Convenience, and Specialty (formerly Vistar), with Corporate & All Other for overhead. It serves customers across North America via distribution centers, direct deliveries, third-party parcel carriers, and various retail and institutional channels.

Summary from filing dated 2025-08-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net sales	63,299	58,281	57,255	50,894	30,399
Cost of goods sold	55,882	51,704	51,000	45,638	26,874
Gross profit	7,417	6,577	6,255	5,256	3,525
Operating expenses	6,600	5,751	5,489	4,929	3,325
Operating profit	816	826	766	327	201
Interest expense	358	232	218	—	—
Other, net	−900,000	−3	4	−23	−6
Other expense, net	358	230	222	160	146
Income before taxes	459	597	544	167	55
Income tax expense	119	161	147	55	14
Net income	340	436	397	113	41
Basic (shares)	155	154	154	150	132
Diluted (shares)	156	156	156	151	133
Basic (per share)	2.2	2.82	2.58	0.75	0.31
Diluted (per share)	2.18	2.79	2.54	0.74	0.3

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2022 2022-03-31
Cash	79	20	13	12	—
Accounts receivable, less allowances of $69.0 and $55.2	2,833	2,479	2,399	2,307	—
Inventories, net	3,888	3,315	3,390	3,429	—
Income taxes receivable	96	72	42	34	—
Prepaid expenses and other current assets	240	268	228	240	—
Total current assets	7,135	6,153	6,072	6,022	—
Goodwill	3,480	2,418	2,301	2,279	2,279
Other intangible assets, net	1,689	971	1,028	1,196	—
Property, plant and equipment, net	4,459	2,789	2,264	2,135	—
Operating lease right-of-use assets	934	876	704	623	—
Other assets	185	186	131	123	—
Total assets	17,881	13,393	12,499	12,378	—
Trade accounts payable and outstanding checks in excess of deposits	3,165	2,594	2,454	2,560	—
Accrued expenses and other current liabilities	1,026	908	892	883	—
Finance lease obligationscurrent installments	222	147	103	80	—
Operating lease obligationscurrent installments	105	108	106	111	—
Total current liabilities	4,518	3,758	3,553	3,633	—
Long-term debt	5,389	3,199	3,460	3,909	—
Deferred income tax liability, net	887	498	446	424	—
Finance lease obligations, excluding current installments	1,380	703	447	367	—
Operating lease obligations, excluding current installments	901	819	629	531	—
Other long-term liabilities	335	289	218	215	—
Total liabilities	13,409	9,266	8,754	9,079	—
Commitments and contingencies (Note 15)	—	—	—	—	—
Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 154.9 million shares issued and outstanding as of June 28, 2025; 154.2 million shares issued and outstanding as of June 29, 2024	2	2	2	2	—
Additional paid-in capital	2,831	2,819	2,863	2,817	—
Accumulated other comprehensive (loss) income, net of tax benefit (expense) of $0.9 and ($1.5)	−3	4	14	11	—
Retained earnings	1,643	1,303	867	470	—
Total shareholders equity	4,472	4,127	3,746	3,300	—
Total liabilities and shareholders equity	17,881	13,393	12,499	12,378	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net income	340	436	397	113	41
Depreciation	455	355	316	280	214
Amortization of intangible assets	263	202	181	183	125
Amortization of deferred financing costs	13	11	10	10	13
Provision for losses on accounts receivables	23	20	6	9	−24
Change in LIFO reserve	88	62	39	123	36
Stock compensation expense	48	42	43	44	25
Deferred income tax (expense) benefit	−200,000	11	20	5	21
Loss on extinguishment of debt	0	900,000	0	3	0
Change in fair value of derivative assets and liabilities	−800,000	−4	19	−11	−9
Other non-cash activities	3	−2	9	6	12
Accounts receivable	−152	−81	−96	−195	−297
Inventories	−338	38	57	−582	−323
Income taxes receivable	−18	−30	−11	47	107
Prepaid expenses and other assets	57	−96	−3	−400,000	−35
Trade accounts payable and outstanding checks in excess of deposits	373	124	−165	183	58
Accrued expenses and other liabilities	57	76	9	61	99
Net cash provided by operating activities	1,210	1,163	832	277	65
Purchases of property, plant and equipment	−506	−396	−270	−216	−189
Net cash paid for acquisitions	−2,596	−308	−64	−1,651	−18
Proceeds from sale of property, plant and equipment and other	13	21	39	5	7
Net cash used in investing activities	−3,089	−683	−295	−1,862	−200
Net borrowings (payments) under ABL Facility	1,194	7	−454	1,020	−16
Cash paid for debt issuance, extinguishment and modifications	−34	0	0	−25	−100,000
Payments under finance lease obligations	−188	−122	−89	−72	−38
Net cash paid for acquisitions	−2	0	0	−7	−136
Proceeds from employee stock purchase plan	33	16	28	25	26
Proceeds from exercise of stock options	11	2	3	3	5
Cash paid for shares withheld to cover taxes	−19	−22	−13	−11	−4
Repurchases of common stock	−58	−78	−11	0	0
Other financing activities	0	−300,000	−300,000	−100,000	−800,000
Net cash provided by (used in) financing activities	1,938	−473	−536	1,582	−274
Net increase in cash and restricted cash	59	8	1	−4	−410
Interest net of amounts capitalized	344	242	219	152	139
Income tax payments net of refunds	130	177	134	9	−117

Filings

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