The Chefs' Warehouse, Inc.

DB:2CF Stock Report

Market Cap: €2.4b

Chefs' Warehouse Valuation

Is 2CF undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of 2CF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: 2CF (€59) is trading below our estimate of future cash flow value (€99.57)

Significantly Below Future Cash Flow Value: 2CF is trading below future cash flow value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2CF?

Key metric: As 2CF is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2CF. This is calculated by dividing 2CF's market cap by their current earnings.
What is 2CF's PE Ratio?
PE Ratio39.4x
EarningsUS$72.36m
Market CapUS$2.83b

Price to Earnings Ratio vs Peers

How does 2CF's PE Ratio compare to its peers?

The above table shows the PE ratio for 2CF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.6x
MTS Metcash
12.7x5.38%AU$3.6b
VC2 Olam Group
11xn/aS$3.6b
HAW Hawesko Holding
18.7x22.22%€182.4m
A026960 Dong Suh Companies
20.1xn/a₩2.9t
2CF Chefs' Warehouse
39.4x18.49%€2.8b

Price-To-Earnings vs Peers: 2CF is expensive based on its Price-To-Earnings Ratio (39.4x) compared to the peer average (15.6x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does 2CF's PE Ratio compare vs other companies in the European Consumer Retailing Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
2CF 39.4xIndustry Avg. 18.9xNo. of Companies7PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2CF is expensive based on its Price-To-Earnings Ratio (39.4x) compared to the European Consumer Retailing industry average (18.9x).

Price to Earnings Ratio vs Fair Ratio

What is 2CF's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

2CF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio39.4x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 2CF's Price-To-Earnings Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 2CF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€59.00
€64.98
+10.13%
8.00%€71.61€55.61n/a8
Feb ’27€52.00
€64.45
+23.95%
8.00%€71.03€55.16n/a8
Jan ’27€53.50
€64.77
+21.06%
7.00%€72.32€56.15n/a8
Dec ’26€52.50
€66.06
+25.82%
6.77%€73.52€57.08n/a8
Nov ’26€51.50
€66.38
+28.90%
6.52%€73.49€57.06n/a9
Oct ’26€49.40
€65.12
+31.83%
6.78%€72.24€56.09n/a8
Sep ’26€53.50
€65.58
+22.59%
6.78%€72.75€56.49n/a8
Aug ’26€59.50
€68.31
+14.81%
4.75%€74.44€63.93n/a7
Jul ’26€54.00
€61.75
+14.35%
4.09%€64.97€58.90n/a7
Jun ’26€56.50
€62.79
+11.13%
4.09%€66.06€59.89n/a7
May ’26€46.60
€61.56
+32.09%
3.22%€64.66€59.34n/a8
Apr ’26€50.00
€63.72
+27.43%
2.56%€66.69€62.12n/a8
Mar ’26€59.50
€66.65
+12.01%
2.56%€69.75€64.97n/a8
Feb ’26€52.00
€54.23
+4.30%
8.94%€59.51€45.12€52.008
Jan ’26€46.20
€51.26
+10.95%
8.55%€57.89€45.35€53.508
Dec ’25€40.80
€48.30
+18.38%
5.55%€52.09€44.51€52.508
Nov ’25€36.60
€46.20
+26.23%
8.43%€50.57€37.70€51.508
Oct ’25€37.40
€44.59
+19.22%
7.74%€49.42€36.84€49.408
Sep ’25€38.20
€45.17
+18.25%
7.44%€50.32€37.51€53.508
Aug ’25€38.20
€45.87
+20.08%
6.85%€50.97€38.92€59.508
Jul ’25€36.20
€42.81
+18.27%
6.72%€46.04€38.67€54.008
Jun ’25€35.20
€42.81
+21.63%
6.72%€46.04€38.67€56.508
May ’25€32.00
€42.91
+34.08%
6.21%€46.77€39.28€46.608
Apr ’25€34.80
€41.09
+18.06%
14.15%€46.43€26.93€50.008
Mar ’25€35.00
€41.09
+17.39%
14.15%€46.43€26.93€59.508
Feb ’25€29.40
€37.16
+26.41%
15.80%€44.69€26.45€52.008
€64.99
Fair Value
9.2% undervalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/02/20 03:35
End of Day Share Price 2026/02/20 00:00
Earnings2025/12/26
Annual Earnings2025/12/26

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

The Chefs' Warehouse, Inc. is covered by 15 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Todd BrooksBenchmark Company
Kelly BaniaBMO Capital Markets Equity Research
Peter SalehBTIG