USFD FY 2023 Earnings Report — US Foods Holding Corp. Revenue & Financial Results | Market Cap Arena

US Foods Holding Corp.USFD

FY 2023 Earnings

Reported February 15, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$35.6B	—	$34.1B	—	4.5%
Op. Income	$1.0B	—	$606M	—	70.1%
Gross Margin	17.3%	—	16.1%	—	1.1pp
Net Margin	1.4%	—	0.8%	—	0.6pp
EPS (Diluted)	$2.02	—	$1.01	—	100.0%
Free Cash Flow	$831M	—	$500M	—	66.2%

Revenue Flow

Item	Amount
REVENUE	$35.6B
Cost of Revenue	$29.4B
GROSS PROFIT	$6.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$5.1B
Other Expenses	$0
Operating Expenses	$5.1B
Cost & Expenses	$34.6B
OPERATING INCOME	$1.0B
Interest Income	$0
Interest Expense	$324M
Other Income/Expenses	-$353M
INCOME BEFORE TAX	$678M
Income Tax Expense	$172M
Net Income from Continuing Ops	$506M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$506M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$499M
D&A	$395M
EBIT	$1.0B
EBITDA	$1.4B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$35.6B
Cost of Revenue	$29.4B
GROSS PROFIT	$6.1B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$5.1B
Other Expenses	$0
Operating Expenses	$5.1B
Cost & Expenses	$34.6B
OPERATING INCOME	$1.0B
Interest Income	$0
Interest Expense	$324M
Other Income/Expenses	-$353M
INCOME BEFORE TAX	$678M
Income Tax Expense	$172M
Net Income from Continuing Ops	$506M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$506M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$499M
D&A	$395M
EBIT	$1.0B
EBITDA	$1.4B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$506M
Depreciation & Amortization	$395M
Stock-Based Compensation	$56M
Deferred Income Tax	$9M
Other Non-Cash Items	$57M
Change in Working Capital	$117M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$309M
Acquisitions (Net)	-$196M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$10M
NET CASH FROM INVESTING	-$495M
Net Debt Issuance	-$310M
Common Stock Repurchased	-$294M
Common Dividends Paid	$0
Other Financing Activities	$24M
NET CASH FROM FINANCING	-$587M
FREE CASH FLOW	$831M
Net Change in Cash	$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$269M
Short-Term Investments	$0
Net Receivables	$2.0B
Inventory	$1.6B
Other Current Assets	$14M
TOTAL CURRENT ASSETS	$4.0B
PP&E (Net)	$2.3B
Goodwill	$5.7B
Intangible Assets	$803M
Long-Term Investments	$39M
Tax Assets	$0
Other Non-Current Assets	$337M
TOTAL NON-CURRENT ASSETS	$9.2B
TOTAL ASSETS	$13.2B
Account Payables	$2.1B
Short-Term Debt	$330M
Deferred Revenue	$0
Other Current Liabilities	$143M
TOTAL CURRENT LIABILITIES	$3.1B
Long-Term Debt	$4.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$293M
Other Non-Current Liabilities	$204M
TOTAL NON-CURRENT LIABILITIES	$5.3B
TOTAL LIABILITIES	$8.4B
Common Stock	$3M
Additional Paid-In Capital	$3.7B
Retained Earnings	$1.5B
Treasury Stock	-$311M
Accum. Other Comp. Income	-$115M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$4.7B
Minority Interest	$0
TOTAL EQUITY	$4.7B
TOTAL LIABILITIES & EQUITY	$13.2B
Total Debt	$5.2B
Net Debt	$4.9B