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US Foods Income Statement

Revenue, expenses, and profitability over time

US Foods generated $39.7B in trailing twelve-month revenue, up 0.0% year-over-year. Net income was $677.0M with a 1.71% net margin. Gross margin stands at 17.4% and operating margin at 3.0%. Diluted EPS is $2.97, which grew 0.4% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$39.7BGross Profit (TTM)$6.9BOperating Income (TTM)$1.2BNet Income (TTM)$677.0MEps Diluted (TTM)$2.97
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$20.1B
P/E Ratio29.68
ROE15.13%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisition and integration costs$3M—————
Compensation and benefits$17M$22M$23M$19M$19M$22M
Depreciation and amortization$111M$112M$115M$118M$117M$119M
Other operating expenses$1.4B$1.4B$1.4B$1.5B$1.4B$1.4B
Provision for credit losses$8M$9M$8M$10M$8M$8M
Restructuring charges$1M$5M$2M$13M$0$8M
Selling, general and administrative$1.4B$1.4B$1.4B$1.5B$1.4B$1.4B
Total operating expenses$1.4B$1.4B$1.4B$1.5B$1.4B$1.4B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.30$0.50$0.97$0.68$0.83$0.53
Diluted earnings per share$0.28$0.49$0.96$0.67$0.82$0.52
Weighted-average shares, basic241M231M230M225.5M227M220M
Weighted-average shares, diluted244M234M233M228.4M230M223M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gross profit$1.7B$1.6B$1.8B$1.8B$1.7B$1.7B
Operating income$302M$224M$372M$282M$321M$216M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$87M$148M$300M$206M$244M$142M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$21M$33M$76M$53M$60M$26M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense$80M$77M$74M$76M$78M$75M
Other income (expense), net-$1M$1M$2M$0$1M$1M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$66M$115M$224M$153M$184M$116M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Accelerated share repurchases, initial price paid per share————$77.41—
Share-Based Payment Arrangement, Decrease for Tax Withholding Obligation—$33M$1M$1M$3M$51M
Share-based compensation expense related to employee stock plans$17M$22M$23M$19M$19M$22M
Pre-tax stock-based compensation cost$15.8M$20.8M$20.8M$20.8M$20.8M—
Customer accounts written off, net of recoveries$5.8M$6.8M$6.8M$6.8M$6.8M—
Amortization of capitalized software and acquired intangible assets$15M$14M$13M$15M$14M$14M
Capital investments accrued but not yet paid$24M$41M$4M$17M$17M$64M
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation-$21M$42M-$40M-$5M-$15M$8M
Comprehensive Income (Loss), Net of Tax, Attributable to Parent$96M$115M$224M$153M$189M$116M
Conversion Of Stock Amount Converted1$0$0$0$0$0—
Federal$34.8M$26M$26M$26M$26M—
Current State And Local Tax Expense Benefit$5.3M$8M$8M$8M$8M—
Federal-$6M$16M$16M$16M$16M—
Deferred taxes—$8M$7M$31M$40M$11M
State$3.5M$5.5M$5.5M$5.5M$5.5M—
Defined Benefit Plan Actuarial Gain Loss$18.5M$0$0$0$0—
Decrease in benefit obligation as a result of settlement and remeasurement of the plan$167.8M$0$0$0$0—
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment-$31M$0$0$0$0—
Defined Benefit Plan Settlements Plan Assets$167.8M$0$0$0$0—
Defined Contribution Plan Cost Recognized—$22M$22M$22M—$23M
Depreciation—$98M$102M$103M—$105M
Effective tax rates$0$0.2$0.3$0.3—$0.2
Income taxes at U.S. statutory rate of 21%21.0%21.0%21.0%21.0%21.0%21.0%
Excess tax benefits associated with employee equity plans (in percent)-1.1%———-1.0%—
State income taxes – net of federal income tax benefit$0$0$0$0$0—
Changes in unrecognized tax benefits-2.6%———0.0%—
Effective Income Tax Rate Reconciliation, Tax Credit, Percent0.5%———0.9%—
Share-Based Payment Arrangement, Expense, Tax Benefit$3.3M$6M———$15M
Goodwill And Intangible Asset Impairment—$0———$0
Federal taxes$37.5M$13M$13M$13M$13M—
State taxes$7.8M$9.3M$9.3M$9.3M$9.3M—
Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount$33.8M$47.3M$47.3M$47.3M$47.3M—
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount$2.5M$2M$2M$2M$2M—
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount$8M$10.5M$10.5M$10.5M$10.5M—
Changes in unrecognized tax benefits-$4.3M$0$0$0$0—
Income Taxes Paid, Net$42M$4M$76M$6M$3M$76M
Increase in accounts payable and cash overdraft liability—$190M$78M$139M—$291M
Increase (Decrease) in Accounts Receivable—$174M$56M$99M—$211M
Increase in accrued expenses and other liabilities-$49M-$1M-$3M$75M—-$84M
Increase (decrease) of cost of goods sold from changes in LIFO reserves—$5M$14M$46M$0$38M
Increase (Decrease) in Inventories$10M-$120M$55M$121M$10M-$34M
Increase (Decrease) in Prepaid Expense and Other Assets—$13M$5M—$25M$14M
Interest Paid, Excluding Capitalized Interest, Operating Activity$51M$92M$57M$91M$60M$91M
Lease not yet commenced, number of contracts1.000.750.750.750.75—
Multiemployer plan, contributions by employer$13M$16M$16M$16M$12M$17M
Percent of total contributions made5.0%———5.0%—
Withdrawals or settlements$0$0$0$0$0—
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation-$199M-$219M-$299M-$242M-$130M-$189M
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$105M-$130M-$75M-$114M-$178M-$97M
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$283M$391M$334M$351M$293M$294M
Number of operating segments—1.00———1.00
Number of reportable segments—1.00———1.00
Other Comprehensive Income Defined Benefit Plans Net Unamortized Gain Loss Arising During Period Net Of Tax$39.5M$1.3M$1.3M$1.3M$1.3M—
Pension settlement charge-$31M$0$0$0$0—
Other income, net (Note 6)-$1M$1M$2M$0$1M$1M
All other operating activities$1M$3M—$17M—$2M
Payments For Debt Repricing$3.5M$0$0$0$0—
Payments For Derivative Instrument Financing Activities$0$250K$250K$250K$250K—
Payments for purchase of eligible tax credits—————$73M
Payments for Repurchase of Common Stock$320M$23M$247M$332M$324M$75M
Payments For Unsettled Accelerated Repurchases Of Equity$0$12.5M$12.5M$12.5M$12.5M—
Payment, Tax Withholding, Share-Based Payment Arrangement$1M$33M$1M$1M$3M$51M
Payments to Acquire Businesses, Net of Cash Acquired—$85M$2M$0$44M$0
Payments to Acquire Property, Plant, and Equipment$105M$84M$77M$115M$134M$98M
Principal payments on debt and financing leases$1.2B$2.4B$2.4B$2.4B$2.4B—
Proceeds from debt repricing$3.5M$0$0$0$0—
Proceeds from principal business dispositions$0$38M———$0
Proceeds From Issuance Of Secured Debt$181.3M$0$0$0$0—
Net Proceeds from Issuance of Long-Term Debt$125M$0$0$0$0—
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans$9M$6M$10M$6M$6M$7M
Proceeds From Other Debt$2.4B$1.7B$2.3B$2.9B$2.8B$2.2B
Dispositions of property, plant, and equipment$0$1M$4M$1M$0$1M
Cash received from option exercises$1M$1M$4M$1M$0$7M
Net additions (releases) charged to costs and expenses$8M$9M$8M$10M$8M$8M
Repayment of Long-Term Debt, Long-Term Lease Obligation, and Capital Security—$1.9B$2.4B$2.9B—$2.2B
Revenue From Contract With Customer Excluding Assessed Tax$9.5B$9.4B$10.1B$10.2B$9.8B$9.6B
Right Of Use Asset Obtained In Exchange For Finance Lease Liability$19M$45M$90M$37M$29M$44M
Charged to costs and expenses$34M$42M$42M$42M$42M—
Self Insurance Reserve Payments$30.3M$32M$32M$32M$32M—
Selling Expense$650M$650M$650M$650M$650M—
Stock-based compensation$17M$22M$23M$19M$19M$22M
Weighted-average grant date fair value of stock options (in dollars per share)$0.00———$0.00—
Granted (in shares)0———0—
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period8.3K———332—
Average fair value, exercised (in USD per share)$9.66———$8.31—
Forfeited or expired (in shares)$32.06———$14.58—
Average fair value, vested and exercisable (in USD per share)$9.58———$9.99—
Intrinsic value of stock options exercised$6M$5.5M$5.5M$5.5M$5.5M—
Granted (in shares)$0.00———$0.00—
Exercised (in shares)$24.58———$22.32—
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value$15.42———$8.27—
Short Term Lease Cost$750K$750K$750K$750K$750K—
Stock issued for employee stock purchase plan$9M$6M$10M$5M$7M$7M
Stock Issued During Period, Value, Stock Options Exercised$1M$1M$4M$1M$0$7M
Treasury stock, value, acquired—$23M———$75M
Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions$4.5M$250K$250K$250K$250K—
Unrecognized Tax Benefits Increases Resulting From Acquisition$500K$250K$250K$250K$250K—
Additions for tax positions of prior years—————$4M
Benefit recognized-$750K-$250K-$250K-$250K-$250K—
Add: dilutive effect of potential common shares (in shares)—$3M$3M$2.9M—$3M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total cost of revenue$7.8B$7.7B$8.3B$8.4B$8.1B$8B

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$9.5B$9.4B$10.1B$10.2B$9.8B$9.6B