The Chefs' Warehouse (CHEF) AI Stock Analysis

• Market Cap: $2.56B
• Dividend Yield: N/A
• Average Volume (3M): 537.64K
• Price to Earnings (P/E): 39.3
• Beta (1Y): 1.48
• Revenue Growth: 7.90%
• EPS Growth: 68.05%
• Country: US
• Employees: 5,029
• Sector: Consumer Defensive
• Sector Strength: 64
• Industry: Food Distribution
• EPS (TTM): 0.52
• Shares Outstanding: 40,762,657
• 10 Day Avg. Volume: 679,621
• 30 Day Avg. Volume: 537,640
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.47
• Enterprise Value/Revenue: 0.97
• Enterprise Value/Gross Profit: 4.04
• Enterprise Value/Ebitda: 20.26
• 1Y Price Target: $77.83
• Price Target Upside: 26.99% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6

• Rating: 73 Outperform
• Price Target: $71.00 ▲(15.84% Upside)

The Chefs' Warehouse exhibits strong financial performance and positive earnings call sentiment, which are the most significant factors driving the score. However, the high valuation and mixed technical indicators present potential risks. The recent corporate event positively impacts the company's financial strategy.

Positive Factors

Earnings

The Chefs’ Warehouse reported better than expected revenue and gross margin performance, leading to AEPS and AEBITDA surpassing consensus estimates.

Guidance

Management raised all elements of prior annual guidance due to strong results and continued momentum, reflecting confidence in future performance.

Operational Efficiency

Profitability measures continue to improve for CHEF, with increased gross profit per truck roll and higher EBITDA per employee, indicating greater operational efficiency.

Negative Factors

Revenue Impact

The rationalization of the acquired Hardies business, including exiting low margin lines, caused a net drag to revenue, although it was partially offset by pricing benefits.

The Chefs' Warehouse Business Overview & Revenue Model

Company Description

The Chefs' Warehouse (CHEF) is a leading distributor of specialty food products in the United States, serving chefs and foodservice operators across various sectors, including fine dining, hotels, and catering companies. The company offers a wide range of high-quality products, including fresh meats, seafood, dairy, produce, and gourmet items, focusing on premium and unique ingredients that cater to culinary professionals.

How the Company Makes Money

The Chefs' Warehouse generates revenue primarily through the distribution of specialty food products to restaurants, hotels, and other foodservice businesses. Its revenue model is based on the wholesale distribution of high-quality ingredients and culinary products, which are sold directly to customers. The company also benefits from strategic partnerships with local and national suppliers, allowing it to offer an extensive product range. Additionally, The Chefs' Warehouse may leverage logistics and delivery services to enhance customer satisfaction and retention, further contributing to its earnings.

The Chefs' Warehouse Financial Statement Overview

Summary

The Chefs' Warehouse demonstrates strong revenue growth and improved profitability, with significant improvements in gross and net profit margins. While the balance sheet shows effective leverage management, the company still carries a substantial amount of debt. Cash flows have strengthened significantly, indicating efficient cash management and solid operational cash generation.

Income Statement

The Chefs' Warehouse has demonstrated strong revenue growth with a significant increase in total revenue from $1.1 billion in 2020 to $3.9 billion in TTM. Gross profit margins have improved consistently, reaching 24% in TTM. The net profit margin also improved to 1.6% from negative values in prior years, indicating better operational efficiency. Overall, the company shows a strong upward revenue trajectory and improvement in profitability.

Balance Sheet

The balance sheet indicates a moderate financial position. The debt-to-equity ratio has decreased over time, showing better management of leverage. The equity ratio stands at 29% for TTM, suggesting a balanced asset financing mix. However, the company still carries a significant amount of debt compared to equity, which could pose risks if not managed well.

Cash Flow

The cash flow statement reflects robust operating cash flow, increasing from a negative position in 2021 to $171.7 million in TTM. Free cash flow has also turned positive, demonstrating strong cash generation capabilities. The company has improved its free cash flow to net income ratio, highlighting efficient cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.87B	3.79B	3.43B	2.61B	1.75B	1.11B
Gross Profit	930.71M	914.15M	814.47M	618.64M	390.49M	248.15M
EBITDA	185.45M	193.14M	156.55M	85.74M	10.81M	-68.69M
Net Income	63.84M	55.48M	34.59M	27.75M	-4.92M	-82.90M
Balance Sheet
Total Assets	1.84B	1.86B	1.71B	1.51B	1.07B	974.33M
Cash, Cash Equivalents and Short-Term Investments	116.53M	114.66M	49.88M	158.80M	115.16M	193.28M
Total Debt	911.89M	915.83M	926.27M	832.77M	542.48M	530.48M
Total Liabilities	1.30B	1.32B	1.25B	1.10B	723.58M	629.74M
Stockholders Equity	541.64M	537.65M	454.67M	401.51M	350.21M	344.59M
Cash Flow
Free Cash Flow	126.94M	103.56M	4.21M	-22.71M	-58.70M	35.84M
Operating Cash Flow	171.73M	153.06M	61.64M	23.13M	-19.90M	42.88M
Investing Cash Flow	-44.78M	-49.82M	-179.31M	-232.02M	-48.99M	-67.97M
Financing Cash Flow	-52.64M	-38.48M	9.01M	253.22M	-9.22M	78.06M

The Chefs' Warehouse Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 61.29
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CHEF, the sentiment is Positive. The current price of 61.29 is below the 20-day moving average (MA) of 64.50, below the 50-day MA of 63.74, and above the 200-day MA of 55.62, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 48.38 is Neutral, neither overbought nor oversold. The STOCH value of 13.77 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CHEF.

The Chefs' Warehouse Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PFGC	78 Outperform	$15.35B	46.56	7.91%	―	8.61%	-22.16%
CHEF	73 Outperform	$2.56B	39.30	13.64%	―	7.90%	68.05%
SYY	73 Outperform	$39.14B	21.65	99.08%	2.52%	3.21%	-4.03%
SPTN	71 Outperform	$898.26M	2,245.98	-2.08%	3.29%	0.26%	-119.66%
USFD	68 Neutral	$17.79B	33.62	11.48%	―	5.32%	11.65%
UNFI	66 Neutral	$1.62B	―	-4.11%	―	6.62%	53.12%
Sector *	63 Neutral	$20.98B	14.59	-7.26%	3.13%	2.83%	-9.85%

The Chefs' Warehouse Corporate Events

The Chefs’ Warehouse Amends Term Loan Agreement

On June 16, 2025, The Chefs’ Warehouse, Inc. amended its senior secured term loan credit agreement, initially established in 2016. The amendment, known as the Thirteenth Amendment, resulted in a repricing of the company’s senior secured term loan B facility, reducing the interest rate margins by 50 basis points over both the term SOFR and the alternate base rate. The principal amount of term loans outstanding after this amendment is $253.5 million, with no changes to the floor of the Adjusted Term SOFR or the maturity date. This financial restructuring reflects the company’s ongoing efforts to optimize its capital structure and maintain strong banking relationships.

The most recent analyst rating on (CHEF) stock is a Buy with a $51.00 price target. To see the full list of analyst forecasts on The Chefs’ Warehouse stock, see the CHEF Stock Forecast page.

The Chefs’ Warehouse Retains Director Despite Vote Outcome

At the 2024 annual meeting of stockholders of The Chefs’ Warehouse, Inc., director Richard N. Peretz received more votes against his election than for it. Despite this, the company’s board decided not to accept his resignation, which was offered in accordance with their majority vote policy. The decision was influenced by Mr. Peretz’s qualifications, contributions, and the fact that his low attendance was due to pre-scheduled meetings before his board election. The board concluded that retaining Mr. Peretz was in the best interest of the company and its stakeholders.

The most recent analyst rating on (CHEF) stock is a Buy with a $53.00 price target. To see the full list of analyst forecasts on The Chefs’ Warehouse stock, see the CHEF Stock Forecast page.

The Chefs’ Warehouse Elects New Directors at Annual Meeting

At the 2025 Annual Meeting, The Chefs’ Warehouse stockholders elected several directors to serve until 2026, with Richard N. Peretz failing to secure the necessary votes, prompting a review by the Nominating and Governance Committee. Additionally, stockholders approved the ratification of BDO USA, P.C. as the independent auditor, endorsed executive compensation on an advisory basis, and amended the 2019 Omnibus Equity Incentive Plan, reflecting continued support for the company’s governance and strategic initiatives.

The most recent analyst rating on (CHEF) stock is a Buy with a $51.00 price target. To see the full list of analyst forecasts on The Chefs’ Warehouse stock, see the CHEF Stock Forecast page.