SpartanNash Co (SPTN) AI Stock Analysis

• Market Cap: $900.29M
• Dividend Yield: 3.29%
• Average Volume (3M): 1.11M
• Price to Earnings (P/E): 2246.0
• Beta (1Y): 0.33
• Revenue Growth: 0.26%
• EPS Growth: -119.66%
• Country: US
• Employees: 11,000
• Sector: Consumer Defensive
• Sector Strength: 54
• Industry: Food Distribution
• EPS (TTM): 0.35
• Shares Outstanding: 33,858,093
• 10 Day Avg. Volume: 574,795
• 30 Day Avg. Volume: 1,109,048
• PEG Ratio: N/A
• Price to Book (P/B): 1.20
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 12.59
• Enterprise Value/Market Cap: 2.21
• Enterprise Value/Revenue: 0.05
• Enterprise Value/Gross Profit: 1.28
• Enterprise Value/Ebitda: 2.75
• 1Y Price Target: $26.90
• Price Target Upside: 1.17% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

• Rating: 71 Outperform
• Price Target: $29.00 ▲(9.06%Upside)

SpartanNash Co's overall stock score is primarily influenced by its stable financial performance, bullish technical indicators, and positive corporate events like the merger and dividend. Despite these strengths, the valuation remains a concern due to negative earnings, which tempers the overall score.

Positive Factors

Expansion Plans

Management continues to target higher growth by expanding its Hispanic stores and c-stores footprint.

Financial Performance

SpartanNash reported a solid start to the year with net sales and adjusted EBITDA slightly topping forecasts.

Sales and Earnings

SpartanNash posted better-than-expected sales and earnings figures, mostly driven by a recent acquisition.

Negative Factors

Earnings Outlook

Adjusted EPS is expected to be much lower than previous estimates due to higher depreciation and interest expenses.

Profitability Concerns

Higher labor and occupancy expenses weighed on profitability, with adjusted operating margin contracting.

Top-Line Challenges

Analyst expects continued top-line challenges and volume pressures at key independents.

SpartanNash Co Business Overview & Revenue Model

Company Description

SpartanNash Company distributes and retails grocery products. It operates in three segments: Food Distribution, Military, and Retail. The Food Distribution segment offers approximately 65,000 stock-keeping units, such as dry groceries, produce, dairy products, meat, delicatessen items, bakery goods, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care, and pharmacy products to independent retailers, national retailers, food service distributors, e-commerce providers, and corporate owned retail stores. This segment also offers various value-added services to retailers. The Military segment sells and distributes grocery products to 160 military commissaries and approximately 400 exchanges located in 39 states across the United States and the District of Columbia, Europe, Cuba, Puerto Rico, Honduras, Iraq, Kuwait, Bahrain, Qatar, and Djibouti. The Retail segment primarily operates 145 corporate owned retail stores and 36 fuel centers, primarily under the banners of Family Fare, Martin's Super Markets, D&W Fresh Market, VG's Grocery, and Dan's Supermarket. SpartanNash Company also markets and distributes private brand items primarily under the Our Family brand name. The company was formerly known as Spartan Stores, Inc. and changed its name to SpartanNash Company in November 2013. SpartanNash Company was founded in 1917 and is headquartered in Grand Rapids, Michigan.

How the Company Makes Money

SpartanNash Co generates revenue through multiple streams, primarily from its wholesale distribution services and retail operations. The wholesale segment involves the distribution of grocery products to independent and chain retailers, food service distributors, and military commissaries. This segment benefits from significant economies of scale and a broad distribution network. The retail segment consists of the operation of supermarkets, where revenue is generated from direct consumer sales. Key revenue drivers include the volume of goods distributed, store sales performance, and efficiency in supply chain management. Strategic partnerships with brands and suppliers, along with private label offerings, also contribute to the company's earnings by enhancing product margins and customer loyalty.

SpartanNash Co Financial Statement Overview

Summary

SpartanNash Co demonstrates stable revenue and gross profit margins, but faces challenges with profitability due to negative net income. Balance sheet is balanced with moderate leverage. Positive operating cash flow, but free cash flow growth is negative, indicating a need for improved cash management.

Income Statement

SpartanNash Co shows moderate performance in its income statement. The Gross Profit Margin for TTM (Trailing-Twelve-Months) is approximately 16.1%, indicating reasonable cost management. The company faces challenges with profitability, as evident by a negative Net Profit Margin of around -0.11% for TTM, primarily due to a net loss. Revenue growth is marginal, with a slight increase from the previous year. Profitability metrics like EBIT and EBITDA margins are low, impacting overall performance.

Balance Sheet

The balance sheet reflects a balanced financial position for SpartanNash Co. The Debt-to-Equity ratio is approximately 1.51, suggesting moderate leverage compared to industry norms. Return on Equity (ROE) is weak due to the net loss in TTM, but the Equity Ratio is stable at about 28.7%, indicating a solid equity base relative to total assets.

Cash Flow

Cash flow analysis shows SpartanNash Co's ability to generate cash, with a positive operating cash flow. The Free Cash Flow Growth Rate is negative, reflecting reduced free cash flow in TTM. The Operating Cash Flow to Net Income ratio is strong, indicating efficient cash generation relative to reported net income. However, the Free Cash Flow to Net Income ratio is impacted by the net loss, highlighting a need for improved cash management.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Mar 2022	Mar 2021
Income Statement
Total Revenue	9.55B	7.48B	9.64B	8.93B	9.35B
Gross Profit	1.51B	1.15B	1.50B	1.40B	1.42B
EBITDA	159.26M	83.17M	70.85M	116.10M	128.60M
Net Income	299.00K	41.93M	34.52M	73.75M	75.91M
Balance Sheet
Total Assets	2.60B	2.36B	2.31B	2.21B	2.28B
Cash, Cash Equivalents and Short-Term Investments	21.57M	17.96M	29.09M	10.67M	19.90M
Total Debt	1.11B	865.58M	788.10M	720.27M	811.09M
Total Liabilities	1.86B	1.58B	1.54B	1.42B	1.54B
Stockholders Equity	743.49M	778.18M	766.07M	782.87M	735.05M
Cash Flow
Free Cash Flow	73.48M	95.68M	13.07M	81.73M	239.42M
Operating Cash Flow	205.88M	95.68M	110.35M	161.16M	306.72M
Investing Cash Flow	-247.03M	-82.00M	-100.95M	-47.98M	-57.22M
Financing Cash Flow	44.75M	-25.21M	9.02M	-122.41M	-253.76M

SpartanNash Co Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 26.59
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SPTN, the sentiment is Positive. The current price of 26.59 is above the 20-day moving average (MA) of 26.54, above the 50-day MA of 22.15, and above the 200-day MA of 19.87, indicating a bullish trend. The MACD of 1.28 indicates Positive momentum. The RSI at 77.75 is Negative, neither overbought nor oversold. The STOCH value of 42.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SPTN.

SpartanNash Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SYY	78 Outperform	$38.88B	20.75	94.91%	2.56%	3.55%	-5.79%
PFGC	78 Outperform	$15.54B	41.43	9.05%	―	6.20%	-10.58%
CHEF	76 Outperform	$2.61B	42.81	12.90%	―	7.85%	79.89%
USFD	75 Outperform	$19.43B	38.59	11.16%	―	6.32%	5.69%
SPTN	71 Outperform	$900.29M	2,245.98	-1.38%	3.29%	0.26%	-119.66%
Sector *	65 Neutral	$27.21B	15.46	-4.29%	3.19%	1.01%	3.46%
UNFI	62 Neutral	$1.69B	―	-4.11%	―	6.62%	53.12%

SpartanNash Co Corporate Events

SpartanNash Co Announces Merger with New Mackinac HoldCo

On June 22, 2025, SpartanNash Company entered into a merger agreement with New Mackinac HoldCo, Inc., and C&S Wholesale Grocers, LLC, where SpartanNash will become a wholly-owned subsidiary of New Mackinac HoldCo. The merger, unanimously approved by SpartanNash’s Board of Directors, will result in each share of SpartanNash’s common stock being converted into $26.90 in cash. The transaction is expected to close in the fourth quarter of 2025, pending regulatory and shareholder approvals. Upon completion, SpartanNash’s common stock will be delisted from NASDAQ, and the merger is not subject to a financing condition. Termination fees are outlined in the agreement should the merger not proceed as planned.

The most recent analyst rating on (SPTN) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on SpartanNash Co stock, see the SPTN Stock Forecast page.

SpartanNash Announces Merger with C&S Wholesale Grocers

On June 22, 2025, SpartanNash entered into a merger agreement with C&S Wholesale Grocers, where C&S will acquire SpartanNash for $26.90 per share, totaling $1.77 billion. This merger, approved by both companies’ boards, aims to create a more efficient supply chain and offer competitive pricing, benefiting customers and communities across the U.S. The transaction is expected to close in late 2025, pending shareholder and regulatory approvals.

The most recent analyst rating on (SPTN) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on SpartanNash Co stock, see the SPTN Stock Forecast page.

SpartanNash Co Concludes Annual Shareholder Meeting

On May 21, 2025, SpartanNash Co held its Annual Meeting, where shareholders voted on several key proposals. The company successfully elected its board of directors, approved executive compensation, ratified Deloitte & Touche LLP as its accounting firm, and amended its bylaws to allow shareholders to call special meetings at a 25% ownership threshold. However, a proposal to lower this threshold to 15% was rejected.

The most recent analyst rating on (SPTN) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on SpartanNash Co stock, see the SPTN Stock Forecast page.

SpartanNash Declares Quarterly Cash Dividend Approval

On May 21, 2025, SpartanNash’s Board of Directors approved a quarterly cash dividend of $0.22 per common share, to be paid on June 30, 2025, to shareholders of record as of June 13, 2025. This decision reflects SpartanNash’s ongoing commitment to providing value to its shareholders and underscores its stable financial position within the food solutions industry.

The most recent analyst rating on (SPTN) stock is a Hold with a $20.00 price target. To see the full list of analyst forecasts on SpartanNash Co stock, see the SPTN Stock Forecast page.