Recent News
On March 10, 2026 the company released fiscal 2026 second-quarter results and described progress on its value-creation actions; management also presented at investor conferences in mid-March (UBS and Roth) and highlighted product and retail initiatives at its Spring & Summer Selling Show in late April.
Technical Analysis
Directional indicators show a strong trend backdrop (ADX 35.59) with directional readings aligned toward downside pressure: DI+ at 32.67 shows a peak-and-reverse pattern while DI- at 15.54 shows a dip-and-reversal; together the directional dynamics signal a dominant trend with a bearish directional bias that could pressure near-term price appreciation.
MACD sits at 1.80 with the MACD trend labeled peak-and-reversal; that configuration signals waning upside momentum even though the MACD currently sits marginally above its signal line (1.76), creating a short window where momentum could roll lower before any sustained recovery.
The MRO reading at 35.52 (peak-and-reversal) places the price above target levels and indicates a high probability of a pullback toward fair-value measures; the magnitude implies meaningful mean-reversion potential that would relieve short-term overextension relative to valuation.
RSI at 61.15 with a peak-and-reversal trend points to faded upward momentum and a bias toward consolidation or modest retracement rather than immediate breakout continuation.
Price sits above the main moving averages (price close $50.09, 12-day EMA $49.66 increasing, 50-day average $44.31, 200-day average $36.74), with the 12-day EMA rising; the gap between current price and the 200-day average argues that momentum has been constructive, but the MRO/RSI signals indicate that any further upside must overcome both momentum cooling and valuation headwinds. Bollinger bands ($45.64–$52.74 at ±2σ) contain current action near the upper band, raising the probability of a near-term pullback to mean levels such as the 20-day average ($49.19) or the 12-day EMA if selling picks up.
Fundamental Analysis
Revenue totaled $7.84 billion with YoY revenue growth reported as 1.87% and QoQ revenue change reported as -141.54%; gross margin stands at 13.41% (up 1.65 percentage points YoY) while operating margin measures 0.702% and EBIT margin equals 0.293%. EBIT of $23.0 million and EBITDA of $100.0 million reflect slim operating profitability relative to revenue; the EBIT margin of 0.293% sits well below the industry peer mean of 2.608% and industry peer median of 3.286%, indicating constrained operating leverage versus peers.
Reported EPS came in at $0.62 versus an estimate of $0.51, producing a positive EPS surprise ratio of 21.57%; management noted adjustments tied to asset impairments, distribution-center actions and receivables monetization tied to recent quarters.
Balance sheet and cash-flow dynamics present material constraints. Total debt equals $3.469 billion with net debt of $1.886 billion; debt-to-assets reads 45.88% and debt-to-equity 224.24%, both above the industry peer mean for debt-to-assets (41.34%) and debt-to-equity (144.54%). Interest coverage stands at 0.72x versus an industry peer mean near 3.61x, signaling limited earnings cover for interest expense. Free cash flow registered negative $54.0 million and free cash flow yield equals -2.487%, while operating cash flow showed a $38.0 million outflow; these cash metrics increase the sensitivity of valuation to operational execution and working-capital management.
Liquid resources remain tight: cash and short-term investments total $38.0 million with a cash ratio of 1.50% and quick ratio of 0.498, both below typical peer measures. Working-capital dynamics offset some pressure: cash-conversion-cycle days of 15.11 compare favorably to an industry peer mean of 18.74 days, reflecting efficient inventory and receivables turnover, but that efficiency currently cannot overcome negative cash generation and elevated leverage.
Market multiples show a mixed picture: P/E of 63.63 sits below the industry peer mean of 82.41 and median of 77.49; price-to-book at 1.40 compares below the industry peer mean of 3.56; price-to-sales at 0.277 remains well below the industry peer mean of 1.44. WMDST values the stock as over-valued given current cash-flow deficits and leverage relative to observed multiples and the balance-sheet risk profile.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-10-31 |
| REPORT DATE: | 2026-03-10 |
| NEXT REPORT DATE: | 2026-06-09 |
| CASH FLOW | Begin Period Cash Flow | $ 44.0 M |
| Operating Cash Flow | $ -38.00 M | |
| Capital Expenditures | $ -16.00 M | |
| Change In Working Capital | $ -159.00 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -6.00 M | |
| End Period Cash Flow | $ 38.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 7.8 B | |
| Forward Revenue | $ -20.71 B | |
| COSTS | ||
| Cost Of Revenue | $ 6.8 B | |
| Depreciation | $ 77.0 M | |
| Depreciation and Amortization | $ 77.0 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 7.8 B | |
| PROFITABILITY | ||
| Gross Profit | $ 1.1 B | |
| EBITDA | $ 100.0 M | |
| EBIT | $ 23.0 M | |
| Operating Income | $ 55.0 M | |
| Interest Income | $ -2.00 M | |
| Interest Expense | $ 32.0 M | |
| Net Interest Income | $ -34.00 M | |
| Income Before Tax | $ -9.00 M | |
| Tax Provision | $ -5.00 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ -4.00 M | |
| Net Income From Continuing Operations | $ -4.00 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.51 | |
| EPS Actual | $ 0.62 | |
| EPS Difference | $ 0.11 | |
| EPS Surprise | 21.569 % | |
| Forward EPS | $ 0.69 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 7.6 B | |
| Intangible Assets | $ 577.0 M | |
| Net Tangible Assets | $ 970.0 M | |
| Total Current Assets | $ 3.5 B | |
| Cash and Short-Term Investments | $ 38.0 M | |
| Cash | $ 38.0 M | |
| Net Receivables | $ 947.0 M | |
| Inventory | $ 2.2 B | |
| Long-Term Investments | $ 198.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.9 B | |
| Short-Term Debt | $ 7.0 M | |
| Total Current Liabilities | $ 2.5 B | |
| Net Debt | $ 1.9 B | |
| Total Debt | $ 3.5 B | |
| Total Liabilities | $ 6.0 B | |
| EQUITY | ||
| Total Equity | $ 1.5 B | |
| Retained Earnings | $ 1.0 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 25.39 | |
| Shares Outstanding | 60.932 M | |
| Revenue Per-Share | $ 128.67 | |
| VALUATION | Market Capitalization | $ 2.2 B |
| Enterprise Value | $ 5.6 B | |
| Enterprise Multiple | 56.021 | |
| Enterprise Multiple QoQ | -97.802 % | |
| Enterprise Multiple YoY | 319.187 % | |
| Enterprise Multiple IPRWA | high: 58.027 UNFI: 56.021 median: 53.421 mean: 52.673 low: -10.051 |
|
| EV/R | 0.715 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.888 | |
| Asset To Liability | 1.257 | |
| Debt To Capital | 0.692 | |
| Debt To Assets | 0.459 | |
| Debt To Assets QoQ | 0.973 % | |
| Debt To Assets YoY | 36312.698 % | |
| Debt To Assets IPRWA | high: 0.49 UNFI: 0.459 mean: 0.413 median: 0.41 low: 0.073 |
|
| Debt To Equity | 2.242 | |
| Debt To Equity QoQ | 0.781 % | |
| Debt To Equity YoY | 36361.789 % | |
| Debt To Equity IPRWA | UNFI: 2.242 high: 1.718 mean: 1.445 median: 1.329 low: 0.101 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.403 | |
| Price To Book QoQ | 28.788 % | |
| Price To Book YoY | 83.451 % | |
| Price To Book IPRWA | high: 6.345 median: 4.126 mean: 3.559 UNFI: 1.403 low: 0.533 |
|
| Price To Earnings (P/E) | 63.627 | |
| Price To Earnings QoQ | -125.081 % | |
| Price To Earnings YoY | -50.939 % | |
| Price To Earnings IPRWA | high: 96.6 mean: 82.407 median: 77.489 UNFI: 63.627 low: 28.016 |
|
| PE/G Ratio | -0.104 | |
| Price To Sales (P/S) | 0.277 | |
| Price To Sales QoQ | 26.096 % | |
| Price To Sales YoY | 75.332 % | |
| Price To Sales IPRWA | high: 2.681 median: 1.813 mean: 1.445 UNFI: 0.277 low: 0.1 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 51.242 | |
| Forward PE/G | -0.084 | |
| Forward P/S | -0.108 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -69.408 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 1.035 | |
| Asset Turnover Ratio QoQ | 2.247 % | |
| Asset Turnover Ratio YoY | 1.827 % | |
| Asset Turnover Ratio IPRWA | UNFI: 1.035 high: 0.9 mean: 0.762 median: 0.7 low: 0.321 |
|
| Receivables Turnover | 7.951 | |
| Receivables Turnover Ratio QoQ | 2.491 % | |
| Receivables Turnover Ratio YoY | 0.263 % | |
| Receivables Turnover Ratio IPRWA | UNFI: 7.951 high: 5.91 mean: 4.961 median: 4.647 low: 2.985 |
|
| Inventory Turnover | 3.134 | |
| Inventory Turnover Ratio QoQ | 0.764 % | |
| Inventory Turnover Ratio YoY | 5.067 % | |
| Inventory Turnover Ratio IPRWA | high: 4.745 mean: 3.846 median: 3.341 UNFI: 3.134 low: 2.036 |
|
| Days Sales Outstanding (DSO) | 11.476 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 15.11 | |
| Cash Conversion Cycle Days QoQ | -5.169 % | |
| Cash Conversion Cycle Days YoY | -15.602 % | |
| Cash Conversion Cycle Days IPRWA | high: 45.318 median: 21.443 mean: 18.738 UNFI: 15.11 low: 10.229 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 8.091 | |
| CapEx To Revenue | -0.002 | |
| CapEx To Depreciation | -0.208 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 3.5 B | |
| Net Invested Capital | $ 3.5 B | |
| Invested Capital | $ 3.5 B | |
| Net Tangible Assets | $ 970.0 M | |
| Net Working Capital | $ 969.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.015 | |
| Current Ratio | 1.383 | |
| Current Ratio QoQ | 5.152 % | |
| Current Ratio YoY | -6.498 % | |
| Current Ratio IPRWA | high: 2.64 mean: 1.423 median: 1.409 UNFI: 1.383 low: 1.16 |
|
| Quick Ratio | 0.498 | |
| Quick Ratio QoQ | -2.343 % | |
| Quick Ratio YoY | -5.966 % | |
| Quick Ratio IPRWA | high: 1.777 mean: 0.73 median: 0.683 low: 0.53 UNFI: 0.498 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 34.69 | |
| Cost Of Debt | 0.731 % | |
| Interest Coverage Ratio | 0.719 | |
| Interest Coverage Ratio QoQ | -129.87 % | |
| Interest Coverage Ratio YoY | 128.69 % | |
| Interest Coverage Ratio IPRWA | high: 13.174 median: 4.128 mean: 3.608 UNFI: 0.719 low: -12.618 |
|
| Operating Cash Flow Ratio | 0.024 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 26.016 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.448 % | |
| Revenue Growth | 1.871 % | |
| Revenue Growth QoQ | -141.541 % | |
| Revenue Growth YoY | -153.718 % | |
| Revenue Growth IPRWA | high: 11.871 % UNFI: 1.871 % mean: -2.962 % median: -3.837 % low: -13.87 % |
|
| Earnings Growth | -609.091 % | |
| Earnings Growth QoQ | 387.273 % | |
| Earnings Growth YoY | -140.606 % | |
| Earnings Growth IPRWA | high: 142.857 % mean: 2.124 % median: -2.804 % low: -37.5 % UNFI: -609.091 % |
|
| MARGINS | ||
| Gross Margin | 13.406 % | |
| Gross Margin QoQ | 0.164 % | |
| Gross Margin YoY | 1.653 % | |
| Gross Margin IPRWA | high: 35.866 % median: 17.551 % mean: 15.406 % UNFI: 13.406 % low: 6.581 % |
|
| EBIT Margin | 0.293 % | |
| EBIT Margin QoQ | -129.271 % | |
| EBIT Margin YoY | 109.286 % | |
| EBIT Margin IPRWA | high: 9.498 % median: 3.286 % mean: 2.608 % UNFI: 0.293 % low: -12.699 % |
|
| Return On Sales (ROS) | 0.702 % | |
| Return On Sales QoQ | -437.5 % | |
| Return On Sales YoY | 401.429 % | |
| Return On Sales IPRWA | high: 8.777 % median: 3.408 % mean: 2.732 % UNFI: 0.702 % low: -0.993 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -54.00 M | |
| Free Cash Flow Yield | -2.487 % | |
| Free Cash Flow Yield QoQ | -148.88 % | |
| Free Cash Flow Yield YoY | -80.555 % | |
| Free Cash Flow Yield IPRWA | high: 9.687 % mean: 1.807 % median: 0.895 % UNFI: -2.487 % low: -17.005 % |
|
| Free Cash Growth | -162.791 % | |
| Free Cash Growth QoQ | 487.036 % | |
| Free Cash Growth YoY | -49.747 % | |
| Free Cash Growth IPRWA | high: 146.018 % median: -146.153 % UNFI: -162.791 % mean: -172.624 % low: -433.372 % |
|
| Free Cash To Net Income | 13.5 | |
| Cash Flow Margin | 0.765 % | |
| Cash Flow To Earnings | -15.0 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.02 | |
| Return On Assets (ROA) | -0.053 % | |
| Return On Assets QoQ | -95.367 % | |
| Return On Assets YoY | -80.443 % | |
| Return On Assets IPRWA | high: 1.924 % median: 1.315 % mean: 0.953 % UNFI: -0.053 % low: -1.365 % |
|
| Return On Capital Employed (ROCE) | 0.457 % | |
| Return On Equity (ROE) | -0.003 | |
| Return On Equity QoQ | -95.382 % | |
| Return On Equity YoY | -79.954 % | |
| Return On Equity IPRWA | high: 0.054 median: 0.043 mean: 0.031 UNFI: -0.003 low: -0.022 |
|
| DuPont ROE | -0.258 % | |
| Return On Invested Capital (ROIC) | 0.523 % | |
| Return On Invested Capital QoQ | -129.432 % | |
| Return On Invested Capital YoY | -101.541 % | |
| Return On Invested Capital IPRWA | high: 3.821 % median: 2.51 % mean: 2.1 % UNFI: 0.523 % low: -2.172 % |
|