CHEF FY 2018 Earnings Report — The Chefs' Warehouse, Inc. Revenue & Financial Results | Market Cap Arena

The Chefs' Warehouse, Inc.CHEF

FY 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.3B	—	11.0%
Op. Income	$49M	—	$41M	—	18.6%
Gross Margin	25.4%	—	25.3%	—	0.1pp
Net Margin	1.4%	—	1.1%	—	0.3pp
EPS (Diluted)	$0.69	—	$0.54	—	27.8%
Free Cash Flow	$25M	—	$19M	—	31.7%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$1.1B
GROSS PROFIT	$367M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$317M
Other Expenses	$0
Operating Expenses	$318M
Cost & Expenses	$1.4B
OPERATING INCOME	$49M
Interest Income	$0
Interest Expense	$21M
Other Income/Expenses	-$21M
INCOME BEFORE TAX	$28M
Income Tax Expense	$7M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$362.0K
BOTTOM LINE NET INCOME	$21M
D&A	$22M
EBIT	$49M
EBITDA	$71M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$1.1B
GROSS PROFIT	$367M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$317M
Other Expenses	$0
Operating Expenses	$318M
Cost & Expenses	$1.4B
OPERATING INCOME	$49M
Interest Income	$0
Interest Expense	$21M
Other Income/Expenses	-$21M
INCOME BEFORE TAX	$28M
Income Tax Expense	$7M
Net Income from Continuing Ops	$20M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$20M
Net Income Deductions	$362.0K
BOTTOM LINE NET INCOME	$21M
D&A	$22M
EBIT	$49M
EBITDA	$71M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$20M
Depreciation & Amortization	$22M
Stock-Based Compensation	$4M
Deferred Income Tax	$3M
Other Non-Cash Items	$9M
Change in Working Capital	-$14M
OPERATING CASH FLOW	$45M
Capital Expenditure	-$20M
Acquisitions (Net)	-$14M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$30.0K
NET CASH FROM INVESTING	-$34M
Net Debt Issuance	-$7M
Common Stock Repurchased	-$764.0K
Common Dividends Paid	$0
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$10M
FREE CASH FLOW	$25M
Net Change in Cash	$906.0K

Balance Sheet

Item	Amount
Cash & Equivalents	$42M
Short-Term Investments	$0
Net Receivables	$162M
Inventory	$113M
Other Current Assets	$12M
TOTAL CURRENT ASSETS	$329M
PP&E (Net)	$73M
Goodwill	$184M
Intangible Assets	$143M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$404M
TOTAL ASSETS	$732M
Account Payables	$88M
Short-Term Debt	$61.0K
Deferred Revenue	$1M
Other Current Liabilities	$23M
TOTAL CURRENT LIABILITIES	$126M
Long-Term Debt	$278M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$10M
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$298M
TOTAL LIABILITIES	$424M
Common Stock	$300.0K
Additional Paid-In Capital	$207M
Retained Earnings	$103M
Treasury Stock	$0
Accum. Other Comp. Income	-$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$309M
Minority Interest	$0
TOTAL EQUITY	$309M
TOTAL LIABILITIES & EQUITY	$732M
Total Debt	$278M
Net Debt	$236M