US Foods Holding Corp.

Listed Company

USFDCIK 0001665918NYSELarge AcceleratedWholesale-Groceries & Related ProductsIllinoisFY ends Jan 2

Period

FY 2025

Revenue

$39.42B

Net Income

$676.00M

Total Assets

$13.94B

Equity

$4.31B

Shares Out

220.54M

Op. Cash Flow

$1.37B

Business

US Foods Holding Corp. distributes food and related products and services to foodservice operators, supporting chefs and operators with supply, tools and expertise. It offers fresh, frozen and dry food items, non-food supplies, private and exclusive brands, value-added services, digital ordering and analytics via its MOXē platform, and programs such as Pronto™ and US Foods Direct™. The company operates as a single, nationally scaled broadline distribution business with centralized functions and local field execution. It serves U.S. customers nationwide through distribution centers, a large fleet, over 90 cash-and-carry locations and GPO relationships.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	39,424	37,877	35,597	34,057	29,487
Cost of goods sold	32,560	31,343	29,449	28,565	24,832
Gross profit	6,864	6,534	6,148	5,492	4,655
Distribution, selling and administrative costs	5,632	5,412	5,117	4,886	4,220
Restructuring activity and asset impairment charges	33	23	14	12	11
Total operating expenses	5,665	5,435	5,131	4,898	4,231
Operating income	1,199	1,099	1,017	594	424
Other (income) expensenet	−4	6	−6	−22	−26
Interest expensenet	305	315	324	255	—
Loss on extinguishment of debt	0	10	21	0	23
Recognition of net actuarial loss for pension settlement	0	124	0	0	—
Income before income taxes	898	644	678	361	214
Income tax provision	222	150	172	96	50
Net income	676	494	506	265	164
Changes in retirement benefit obligations	5	158	−43	—	—
Loss on pension settlement	0	−124	0	—	—
Interest rate hedge activity	0	0	1	0	—
Comprehensive income	681	528	464	211	179
Series A convertible preferred stock dividends	0	0	−7	−37	−43
Net income available to common shareholders	676	494	499	228	121
Basic (per share)	2.98	2.05	2.09	1.02	0.55
Diluted (per share)	2.94	2.02	2.02	1.01	0.54
Basic (shares)	227	241	239	224	222
Diluted (shares)	230	244	250	226	225

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	41	59	269	211	148
Accounts receivable, less allowances of $30 and $24	2,026	1,957	1,900	1,700	1,500
Vendor receivables, less allowances of $7 and $7	173	167	156	143	145
Inventoriesnet	1,711	1,626	1,600	1,616	1,686
Prepaid expenses	153	146	138	124	120
Assets held for sale	0	8	0	2	8
Other current assets	60	11	14	19	18
Total current assets	4,164	3,974	4,031	3,820	3,594
Property and equipmentnet	2,681	2,398	2,280	2,171	2,033
Goodwill	5,794	5,766	5,697	5,625	5,625
Other intangiblesnet	781	836	803	785	830
Other assets	523	429	376	372	431
Noncurrent assets held for sale	0	33	0	—	—
Total assets	13,943	13,436	13,187	12,773	12,521
Cash overdraft liability	168	216	220	175	183
Accounts payable	2,447	2,231	2,051	1,855	1,662
Accrued expenses and other current liabilities	839	732	731	650	610
Current portion of long-term debt	137	109	110	116	95
Liabilities held for sale	0	8	0	—	—
Total current liabilities	3,591	3,296	3,112	2,796	2,550
Long-term debt	5,063	4,819	4,564	4,738	4,916
Deferred tax liabilities	426	335	293	298	307
Other long-term liabilities	556	447	469	446	479
Noncurrent liabilities held for sale	0	11	0	—	—
Total liabilities	9,636	8,908	8,438	8,278	8,252
Commitments and contingencies (Note 19)	—	—	—	—	—
Common stock, $0.01 par value600 shares authorized; 256.6 issued and 220.5 outstanding as of December 27, 2025, and 254.7 issued and 230.5 outstanding as of December 28, 2024, respectively	3	3	3	—	—
Additional paid-in capital	3,777	3,748	3,663	3,036	2,970
Retained earnings	2,679	2,003	1,509	1,010	782
Accumulated other comprehensive income	48	43	−115	−73	−19
Treasury Stock, 36.1 and 24.2 shares, respectively	−2,200	−1,269	—	—	—
Total shareholders equity	4,307	4,528	4,749	3,961	3,735
Total liabilities and shareholders equity	13,943	13,436	13,187	12,773	12,521

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	462	438	395	372	378
Intangible asset impairment charges	13	0	0	0	7
Loss on pension settlement	0	124	0	0	—
Deferred tax provision (benefit)	86	−10	9	17	38
Share-based compensation expense	83	63	56	45	48
Provision for doubtful accounts	35	29	24	6	−24
Other non-cash activities	9	8	12	—	—
Increase in receivables	−95	−140	−157	−240	−386
(Increase) decrease in inventories	−66	−16	61	70	−413
(Increase) decrease in prepaid expenses and other assets	−34	38	−67	−24	4
Increase in accounts payable and cash overdraft liability	143	170	200	193	471
Increase (decrease) in accrued expenses and other liabilities	57	−34	80	44	94
Net cash provided by operating activities	1,369	1,174	1,140	765	419
Acquisition of businessesnet of cash received	−131	−214	−196	0	0
Proceeds from business divestiture	38	0	0	0	5
Proceeds from sales of property and equipment	6	3	10	10	7
Purchases of property and equipment	−410	−341	−309	−265	−274
Net cash used in investing activities	−497	−552	−495	−255	−262
Repurchase of Senior Note Debt	0	0	−1,000	0	—
Issuance of new Senior Note Debt	0	500	1,000	0	—
Principal payments on debt refinancing	0	−1,217	0	0	—
Proceeds from Term Loan Issuance	0	725	0	0	—
Principal payments on debt repricing	0	−14	−43	0	0
Proceeds from debt repricing	0	14	43	0	0
Proceeds from debt borrowings	9,792	4,896	456	1,207	2,305
Principal payments on debt and financing leases	−9,701	−4,796	−766	−1,620	−3,105
Dividends paid on Series A convertible preferred stock	0	0	−7	−37	−28
Debt financing costs and fees	0	−13	−11	−4	−30
Repurchase of common stock	−926	−948	−294	−14	0
Unsettled accelerated share repurchases	−50	0	0	—	—
Proceeds from employee stock purchase plan	28	28	24	22	20
Proceeds from exercise of stock options	6	15	26	15	15
Purchase of interest rate caps	−1	0	−3	0	0
Tax withholding payments for net share-settled equity awards	−38	−21	−12	−16	−14
Net cash used in financing activities	−890	−831	−587	−447	−837
Net (decrease) increase in cash, cash equivalents and restricted cash	−18	−209	58	63	−680
Conversion of Series A Convertible Preferred Stock	0	0	534	0	0
Interest paidnet of amounts capitalized	300	284	294	243	185
Income taxes paidnet	89	181	161	68	1
Federal	52	150	145	—	—
State	37	31	16	—	—
Property and equipment purchases included in accounts payable	79	47	39	36	40
Leased assets obtained in exchange for financing lease liabilities	201	145	125	207	56
Leased assets obtained in exchange for operating lease liabilities	109	35	67	41	32
Cashless exercise of stock options	3	5	2	1	1

Filings

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