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United Natural Foods

DB:UN3
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UN3
DB
$658M
Market Cap
  1. Home
  2. DE
  3. Consumer Retailing
Company description

United Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The last earnings update was 45 days ago. More info.


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UN3 Share Price and Events
7 Day Returns
-3.9%
DB:UN3
0.3%
Europe Consumer Retailing
1.8%
DE Market
1 Year Returns
-67.2%
DB:UN3
1.5%
Europe Consumer Retailing
-6%
DE Market
UN3 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
United Natural Foods (UN3) -3.9% 0.9% 2.4% -67.2% -63% -76.2%
Europe Consumer Retailing 0.3% -0.6% 2.2% 1.5% -4.6% -7.6%
DE Market 1.8% 4.6% 7.4% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • UN3 underperformed the Consumer Retailing industry which returned 1.5% over the past year.
  • UN3 underperformed the Market in Germany which returned -6% over the past year.
Price Volatility
UN3
Industry
5yr Volatility vs Market
Related Companies

Value

 Is United Natural Foods undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of United Natural Foods to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for United Natural Foods.

DB:UN3 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:UN3
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.465 (1 + (1- 21%) (493.63%))
1.857
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.857 * 5.96%)
11.3%

Discounted Cash Flow Calculation for DB:UN3 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for United Natural Foods is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:UN3 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.3%)
2019 58.40 Analyst x1 52.47
2020 80.60 Analyst x1 65.07
2021 475.90 Analyst x1 345.19
2022 483.30 Analyst x1 314.98
2023 488.85 Est @ 1.15% 286.26
2024 493.12 Est @ 0.87% 259.45
2025 496.47 Est @ 0.68% 234.70
2026 499.17 Est @ 0.54% 212.02
2027 501.41 Est @ 0.45% 191.35
2028 503.33 Est @ 0.38% 172.59
Present value of next 10 years cash flows $2,134.08
DB:UN3 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $503.33 × (1 + 0.23%) ÷ (11.3% – 0.23%)
$4,557.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $4,557.54 ÷ (1 + 11.3%)10
$1,562.75
DB:UN3 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $2,134.08 + $1,562.75
$3,696.83
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,696.83 / 50.82
$72.74
DB:UN3 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:UN3 represents 0.8983x of NYSE:UNFI
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.8983x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 72.74 x 0.8983
€65.35
Value per share (EUR) From above. €65.35
Current discount Discount to share price of €11.62
= -1 x (€11.62 - €65.35) / €65.35
82.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price United Natural Foods is available for.
Intrinsic value
>50%
Share price is €11.62 vs Future cash flow value of €65.35
Current Discount Checks
For United Natural Foods to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • United Natural Foods's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • United Natural Foods's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for United Natural Foods's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are United Natural Foods's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:UN3 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-01-26) in USD $-5.93
NYSE:UNFI Share Price ** NYSE (2019-04-18) in USD $12.94
Europe Consumer Retailing Industry PE Ratio Median Figure of 32 Publicly-Listed Consumer Retailing Companies 19.38x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of United Natural Foods.

DB:UN3 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:UNFI Share Price ÷ EPS (both in USD)

= 12.94 ÷ -5.93

-2.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • United Natural Foods is loss making, we can't compare its value to the Europe Consumer Retailing industry average.
  • United Natural Foods is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does United Natural Foods's expected growth come at a high price?
Raw Data
DB:UN3 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.18x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
64.9%per year
Europe Consumer Retailing Industry PEG Ratio Median Figure of 24 Publicly-Listed Consumer Retailing Companies 1.71x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for United Natural Foods, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on United Natural Foods's assets?
Raw Data
DB:UN3 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-01-26) in USD $29.23
NYSE:UNFI Share Price * NYSE (2019-04-18) in USD $12.94
Europe Consumer Retailing Industry PB Ratio Median Figure of 41 Publicly-Listed Consumer Retailing Companies 1.58x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:UN3 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:UNFI Share Price ÷ Book Value per Share (both in USD)

= 12.94 ÷ 29.23

0.44x

* Primary Listing of United Natural Foods.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • United Natural Foods is good value based on assets compared to the Europe Consumer Retailing industry average.
X
Value checks
We assess United Natural Foods's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Retailing industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Retailing industry average (and greater than 0)? (1 check)
  5. United Natural Foods has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is United Natural Foods expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
64.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is United Natural Foods expected to grow at an attractive rate?
  • United Natural Foods's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • United Natural Foods's earnings growth is expected to exceed the Germany market average.
  • United Natural Foods's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:UN3 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:UN3 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 64.9%
DB:UN3 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 7.7%
Europe Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 12%
Europe Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:UN3 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:UN3 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-07-31 27,381 584 101 2
2022-07-31 26,539 562 111 3
2021-07-31 25,789 542 132 7
2020-07-31 24,715 376 102 15
2019-07-31 21,721 339 -345 15
DB:UN3 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-01-26 14,258 139 -300
2018-10-27 10,637 43 114
2018-07-28 10,227 109 166
2018-04-28 9,975 94 172
2018-01-27 9,696 180 156
2017-10-28 9,454 248 131
2017-07-29 9,274 281 130
2017-04-29 9,147 254 126
2017-01-28 8,910 269 128
2016-10-29 8,672 284 125
2016-07-30 8,470 297 126
2016-04-30 8,318 261 127
2016-01-30 8,300 226 131

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • United Natural Foods's earnings are expected to grow significantly at over 20% yearly.
  • United Natural Foods's revenue is expected to grow by 7.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:UN3 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from United Natural Foods Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:UN3 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-07-31 1.98 3.66 0.29 2.00
2022-07-31 3.06 3.37 2.74 2.00
2021-07-31 2.72 3.19 2.24 2.00
2020-07-31 1.93 2.50 0.99 7.00
2019-07-31 -6.63 -6.18 -7.34 6.00
DB:UN3 Past Financials Data
Date (Data in USD Millions) EPS *
2019-01-26 -5.93
2018-10-27 2.25
2018-07-28 3.28
2018-04-28 3.40
2018-01-27 3.09
2017-10-28 2.59
2017-07-29 2.57
2017-04-29 2.49
2017-01-28 2.53
2016-10-29 2.48
2016-07-30 2.50
2016-04-30 2.53
2016-01-30 2.60

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • United Natural Foods is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess United Natural Foods's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
United Natural Foods has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has United Natural Foods performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare United Natural Foods's growth in the last year to its industry (Consumer Retailing).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • United Natural Foods does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare United Natural Foods's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare United Natural Foods's 1-year growth to the Europe Consumer Retailing industry average as it is not currently profitable.
Earnings and Revenue History
United Natural Foods's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from United Natural Foods Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:UN3 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-01-26 14,258.49 -299.82 1,735.18
2018-10-27 10,637.29 113.80 1,324.74
2018-07-28 10,226.68 165.67 1,274.53
2018-04-28 9,975.47 171.75 1,262.18
2018-01-27 9,696.15 156.45 1,233.87
2017-10-28 9,453.65 131.44 1,212.46
2017-07-29 9,274.47 130.16 1,196.03
2017-04-29 9,147.26 125.97 1,171.34
2017-01-28 8,909.81 127.65 1,129.39
2016-10-29 8,672.00 124.85 1,083.54
2016-07-30 8,470.29 125.77 1,045.69
2016-04-30 8,317.78 127.18 1,015.59
2016-01-30 8,300.32 130.66 1,017.01
2015-10-31 8,269.15 135.82 1,014.93
2015-08-01 8,184.98 138.73 1,018.26
2015-05-02 7,888.33 136.01 1,004.91
2015-01-31 7,555.42 130.65 982.38
2014-11-01 7,184.91 130.76 950.96
2014-08-02 6,794.45 125.48 915.36
2014-05-03 6,672.18 124.18 905.25
2014-02-01 6,456.67 119.41 879.97
2013-11-02 6,256.33 114.08 863.35
2013-08-03 6,064.36 107.85 837.95
2013-04-27 5,765.62 100.92 798.01
2013-01-26 5,587.42 98.33 785.02
2012-10-27 5,428.63 97.72 768.09
2012-07-28 5,236.02 91.34 755.74
2012-04-28 5,050.98 83.38 747.39

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if United Natural Foods has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if United Natural Foods has efficiently used its assets last year compared to the Europe Consumer Retailing industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if United Natural Foods improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess United Natural Foods's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Retailing industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
United Natural Foods has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is United Natural Foods's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up United Natural Foods's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • United Natural Foods is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • United Natural Foods's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of United Natural Foods's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from United Natural Foods Company Filings, last reported 2 months ago.

DB:UN3 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-01-26 1,483.37 3,246.18 52.13
2018-10-27 1,830.32 3,970.08 55.63
2018-07-28 1,845.96 360.15 24.77
2018-04-28 1,812.30 482.16 21.76
2018-01-27 1,754.74 443.16 25.40
2017-10-28 1,708.09 446.99 21.16
2017-07-29 1,681.92 385.91 15.41
2017-04-29 1,629.23 469.24 16.12
2017-01-28 1,590.23 561.43 30.66
2016-10-29 1,552.49 597.58 13.56
2016-07-30 1,519.50 606.03 18.59
2016-04-30 1,490.42 444.97 19.33
2016-01-30 1,441.46 456.37 12.48
2015-10-31 1,420.47 499.56 12.29
2015-08-01 1,381.09 548.28 17.38
2015-05-02 1,353.03 549.41 23.94
2015-01-31 1,305.63 555.00 27.47
2014-11-01 1,279.90 547.49 17.56
2014-08-02 1,243.36 449.16 16.12
2014-05-03 1,200.79 302.22 16.58
2014-02-01 1,159.19 274.51 14.58
2013-11-02 1,132.55 262.74 9.36
2013-08-03 1,099.15 164.70 11.11
2013-04-27 1,062.80 175.98 13.88
2013-01-26 1,028.66 175.15 8.09
2012-10-27 1,003.45 150.44 8.94
2012-07-28 978.72 115.99 16.12
2012-04-28 947.68 209.96 14.20
  • United Natural Foods's level of debt (218.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (23.7% vs 218.8% today).
  • Debt is not well covered by operating cash flow (4.3%, less than 20% of total debt).
  • United Natural Foods is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess United Natural Foods's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. United Natural Foods has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is United Natural Foods's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from United Natural Foods dividends. Estimated to be 0% next year.
If you bought €2,000 of United Natural Foods shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate United Natural Foods's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate United Natural Foods's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:UN3 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
Europe Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 34 Stocks 3.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:UN3 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-07-31
2022-07-31
2021-07-31 0.00 3.00
2020-07-31 0.00 4.00
2019-07-31 0.00 4.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as United Natural Foods has not reported any payouts.
  • Unable to verify if United Natural Foods's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of United Natural Foods's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as United Natural Foods has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of United Natural Foods's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess United Natural Foods's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can United Natural Foods afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. United Natural Foods has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of United Natural Foods's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Steve Spinner
COMPENSATION $5,118,422
AGE 58
TENURE AS CEO 10.6 years
CEO Bio

Mr. Steven L. Spinner, also known as Steve, has been the Chief Executive Officer of United Natural Foods, Inc. (UNFI) since September 2008 and served as its President since September 2008 until August 1, 2018. Mr. Spinner served as the President of Performance Food Group Co., from May 25, 2005 to October 2006. He served as Chief Executive Officer of Performance Food Group Co. from October 1, 2006 to June 2008 and its Chief Operating Officer from May 25, 2005 to September 2006 and Senior Vice President from February 2002 to May 2005. He served as Chief Executive Officer for Broadline Segment of Performance Food Group Co., from February 2002 to May 2005 and also served as President of its Broadline Distribution from October 2001 to June 2005 and Northeast Regional President of its broadline segment from November 2000 to October 2001. He served as Broadline Regional President of Performance Food Group Co., from October 2000 to August 2001. Mr. Spinner served as President of AFI Food Service Distributors Inc. (AFI), a wholly-owned subsidiary of Performance Food Group Co., from October 1997 to October 2001 and Principle from 1985 to October 1997. From 1989 to October 1997, Mr. Spinner served as Vice President of AFI Food service. He has been the Chairman of United Natural Foods, Inc. since December 15, 2016 and has been its Director since September 2008. He has been an Independent Director and Lead Independent Director of ArcBest Corporation (alternate name Arkansas Best Corporation) since July 21, 2011 and April 2016 respectively. He served as a Director of Performance Food Group Co., LLC from October 2006 to May 2008.

CEO Compensation
  • Steve's compensation has been consistent with company performance over the past year.
  • Steve's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the United Natural Foods management team in years:

2.1
Average Tenure
56
Average Age
  • The tenure for the United Natural Foods management team is about average.
Management Team

Steve Spinner

TITLE
Chairman & CEO
COMPENSATION
$5M
AGE
58
TENURE
10.6 yrs

Mike Zechmeister

TITLE
Chief Financial Officer
COMPENSATION
$2M
AGE
51
TENURE
3.5 yrs

Eric Dorne

TITLE
Chief Administrative & Information Officer and President of Business Strategic Units
COMPENSATION
$1M
AGE
57
TENURE
2.6 yrs

Paul Green

TITLE
Chief Supply Chain Officer
COMPENSATION
$1M
AGE
56
TENURE
0.7 yrs

Sean Griffin

TITLE
Chief Executive Officer of SUPERVALU Inc.
COMPENSATION
$2M
AGE
59

Chris Testa

TITLE
President
AGE
48
TENURE
0.7 yrs

Steve Bloomquist

TITLE
Vice President Investor Relations

Joe Sutton

TITLE
Senior VP
AGE
46
TENURE
0.9 yrs

Danielle Benedict

TITLE
Chief Human Resource Officer
AGE
45
TENURE
1.6 yrs

Craig Smith

TITLE
Senior Vice President of Fresh Sales
COMPENSATION
$1M
AGE
59
TENURE
2.7 yrs
Board of Directors Tenure

Average tenure and age of the United Natural Foods board of directors in years:

4.5
Average Tenure
60
Average Age
  • The tenure for the United Natural Foods board of directors is about average.
Board of Directors

Steve Spinner

TITLE
Chairman & CEO
COMPENSATION
$5M
AGE
58
TENURE
2.3 yrs

James Heffernan

TITLE
Lead Independent Director
COMPENSATION
$322K
AGE
72
TENURE
3.5 yrs

Peter Roy

TITLE
Independent Director
COMPENSATION
$226K
AGE
62
TENURE
11.8 yrs

Ann Bates

TITLE
Independent Director
COMPENSATION
$261K
AGE
60
TENURE
5.5 yrs

Michael Funk

TITLE
Director
COMPENSATION
$499K
AGE
64
TENURE
23.2 yrs

Denise Clark

TITLE
Independent Director
COMPENSATION
$249K
AGE
60
TENURE
6.2 yrs

Eric Artz

TITLE
Independent Director
COMPENSATION
$218K
AGE
51
TENURE
3.5 yrs

Daphne Dufresne

TITLE
Independent Director
COMPENSATION
$220K
AGE
45
TENURE
2.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
13. Dec 18 Buy Steven Spinner Individual 12. Dec 18 12. Dec 18 18,000 €11.53 €207,575
13. Dec 18 Buy Sean Griffin Individual 12. Dec 18 12. Dec 18 18,000 €11.30 €203,401
04. Oct 18 Sell James Heffernan Individual 02. Oct 18 02. Oct 18 -3,820 €25.51 €-97,458
X
Management checks
We assess United Natural Foods's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. United Natural Foods has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

United Natural Foods, Inc., together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The Wholesale division offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products. This segment also distributes an array of specialty protein, cheese, deli, food service, and bakery goods; and organic and conventional produce and non-produce perishable items, and natural and organic specialty and gourmet ethnic products, as well as vitamins and minerals. The Retail division operates one retail stores in Rhode Island. The Manufacturing and Branded Products division is involved in importing, roasting, packaging, and distributing nuts, dried fruits, seeds, trail mixes, granola, natural and organic snack items, and confections. This segment also provides Blue Marble Brands products on wholesale basis through third-party distributors in organic, natural, and specialty food brands, as well as directly to retailers; and Field Day brand products primarily to customers through its independent channel. The company serves independently retailers, supernatural chains, conventional supermarkets, and mass market chains, as well as foodservice, e-commerce, and international customers outside Canada. United Natural Foods, Inc. was founded in 1976 and is headquartered in Providence, Rhode Island.

Details
Name: United Natural Foods, Inc.
UN3
Exchange: DB
Founded: 1976
$584,746,303
50,819,894
Website: http://www.unfi.com
Address: United Natural Foods, Inc.
313 Iron Horse Way,
Providence,
Rhode Island, 02908,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE UNFI Common Stock New York Stock Exchange US USD 01. Nov 1996
DB UN3 Common Stock Deutsche Boerse AG DE EUR 01. Nov 1996
Number of employees
Current staff
Staff numbers
20,400
United Natural Foods employees.
Industry
Food Distributors
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 21:17
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/12
Last earnings filing: 2019/03/07
Last earnings reported: 2019/01/26
Last annual earnings reported: 2018/07/28


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.