Latest Ratios: P/E Ratio 58.5x · EV/EBITDA 21.9x · ROE 12.7%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.0B | $2.9B | $2.2B | $1.3B | $1.3B | $1.2B | $866M | $1.1B | $949M | $562M | $411M |
| Enterprise Value | $5.1B | $4.0B | $3.0B | $2.2B | $2.0B | $1.7B | $1.2B | $1.5B | $1.2B | $839M | $711M |
| P/E Ratio → | 58.46 | 37.82 | 36.88 | 33.44 | 45.59 | — | — | 47.05 | 46.35 | 37.96 | 131.67 |
| P/S Ratio | 0.97 | 0.70 | 0.59 | 0.39 | 0.49 | 0.70 | 0.78 | 0.72 | 0.66 | 0.43 | 0.34 |
| P/B Ratio | 7.48 | 4.84 | 4.16 | 2.95 | 3.21 | 3.49 | 2.51 | 3.41 | 3.07 | 2.26 | 2.12 |
| P/FCF | 45.62 | 33.32 | 21.62 | 318.89 | — | — | 24.16 | 39.62 | 37.57 | 29.30 | 18.45 |
| P/OCF | 30.99 | 22.64 | 14.62 | 21.79 | 55.73 | — | 20.20 | 25.46 | 21.05 | 17.85 | 10.57 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.96 | 0.80 | 0.65 | 0.75 | 0.95 | 1.08 | 0.96 | 0.82 | 0.64 | 0.60 |
| EV / EBITDA | 21.88 | 17.22 | 15.74 | 14.18 | 15.67 | 34.99 | — | 19.94 | 16.70 | 13.60 | 10.81 |
| EV / EBIT | 33.05 | 27.43 | 23.71 | 21.99 | 22.98 | 152.71 | — | 30.21 | 24.39 | 20.39 | 15.03 |
| EV / FCF | — | 45.34 | 29.35 | 526.96 | — | — | 33.57 | 52.91 | 46.90 | 43.70 | 31.89 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.2% | 24.2% | 24.1% | 23.7% | 23.7% | 22.4% | 22.3% | 25.5% | 25.4% | 25.3% | 25.3% |
| Operating Margin | 3.7% | 3.7% | 3.4% | 2.9% | 3.3% | 0.6% | -9.2% | 3.2% | 3.4% | 3.2% | 4.0% |
| Net Profit Margin | 1.7% | 1.7% | 1.5% | 1.0% | 1.1% | -0.3% | -7.5% | 1.5% | 1.4% | 1.1% | 0.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.7% | 12.7% | 11.2% | 8.1% | 7.4% | -1.4% | -24.4% | 7.5% | 7.3% | 6.5% | 1.6% |
| ROA | 3.7% | 3.7% | 3.1% | 2.2% | 2.2% | -0.5% | -8.3% | 2.8% | 2.9% | 2.2% | 0.5% |
| ROIC | 7.7% | 7.7% | 7.2% | 6.3% | 6.9% | 1.1% | -11.0% | 6.0% | 6.8% | 6.1% | 7.4% |
| ROCE | 10.2% | 10.2% | 9.3% | 7.9% | 8.2% | 1.2% | -11.9% | 6.9% | 8.2% | 7.4% | 9.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.95 | 1.95 | 1.70 | 2.04 | 2.09 | 1.55 | 1.54 | 1.56 | 0.90 | 1.28 | 1.72 |
| Debt / EBITDA | 5.09 | 5.09 | 4.74 | 5.92 | 6.68 | 11.50 | — | 6.84 | 3.92 | 5.15 | 5.06 |
| Net Debt / Equity | — | 1.75 | 1.49 | 1.93 | 1.70 | 1.22 | 0.98 | 1.14 | 0.76 | 1.11 | 1.55 |
| Net Debt / EBITDA | 4.56 | 4.56 | 4.15 | 5.60 | 5.42 | 9.06 | — | 5.01 | 3.32 | 4.48 | 4.56 |
| Debt / FCF | — | 12.02 | 7.74 | 208.07 | — | — | 9.41 | 13.29 | 9.33 | 14.40 | 13.44 |
| Interest Coverage | 3.49 | 3.49 | 2.63 | 2.22 | 1.96 | 0.61 | -4.90 | 2.77 | 2.34 | 1.81 | 1.14 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.05 | 2.05 | 2.04 | 1.89 | 2.54 | 2.39 | 3.43 | 3.02 | 2.62 | 2.74 | 2.47 |
| Quick Ratio | 1.23 | 1.23 | 1.30 | 1.16 | 1.67 | 1.65 | 2.74 | 2.19 | 1.72 | 1.80 | 1.65 |
| Cash Ratio | 0.26 | 0.26 | 0.27 | 0.13 | 0.56 | 0.58 | 1.64 | 0.93 | 0.34 | 0.38 | 0.31 |
| Asset Turnover | — | 2.05 | 2.04 | 2.01 | 1.74 | 1.63 | 1.14 | 1.57 | 1.97 | 1.89 | 1.88 |
| Inventory Turnover | 8.15 | 8.15 | 9.11 | 9.21 | 8.12 | 9.38 | 10.46 | 9.56 | 9.57 | 9.52 | 10.19 |
| Days Sales Outstanding | — | 34.51 | 35.24 | 35.50 | 36.34 | 36.07 | 31.65 | 40.14 | 40.87 | 39.87 | 39.18 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.7% | 2.6% | 2.7% | 3.0% | 2.2% | — | — | 2.1% | 2.2% | 2.6% | 0.8% |
| FCF Yield | 2.2% | 3.0% | 4.6% | 0.3% | — | — | 4.1% | 2.5% | 2.7% | 3.4% | 5.4% |
| Buyback Yield | 0.4% | 0.5% | 1.1% | 0.2% | 0.2% | 0.1% | 0.4% | 0.1% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 0.4% | 0.5% | 1.1% | 0.2% | 0.2% | 0.1% | 0.4% | 0.1% | 0.1% | 0.1% | 0.1% |
| Shares Outstanding | — | $46M | $46M | $46M | $39M | $37M | $34M | $30M | $30M | $27M | $26M |
Thin operating margin sensitivity
According to current market data, CHEF trades at a forward P/E of 42.92, which significantly exceeds the valuation multiples of broader food distribution peers, suggesting that investors are pricing in aggressive future growth rather than current earnings stability or immediate cash flow generation.
The elevated P/E ratio relative to peers like Sysco suggests the market views the company as a growth-oriented consolidator rather than a mature utility-like distributor. This valuation premium appears predicated on the successful execution of its M&A strategy, though it leaves little room for error should organic growth or integration synergies fail to materialize.
Based on reported financial figures, the company's ROIC has consistently hovered between 0.9% and 2.6% over the last ten quarters, indicating that the firm is struggling to generate returns on invested capital that meaningfully exceed its likely cost of capital.
The low ROIC suggests that the capital-intensive nature of the specialty distribution model, combined with the integration costs of frequent acquisitions, is suppressing the company's ability to compound value efficiently. Investors should monitor whether management can improve asset utilization or if the current acquisition pace is diluting long-term return potential.
As reported in recent quarterly filings, the company's cash conversion cycle has fluctuated between 39 and 47 days, reflecting the inherent difficulty of managing a complex 50,000 SKU portfolio while maintaining high-touch service levels for independent restaurant customers.
The variability in the cash conversion cycle highlights the operational friction involved in balancing inventory levels with the replenishment needs of menu-driven establishments. This inefficiency in working capital management likely contributes to the observed volatility in free cash flow, as the company must constantly reinvest in inventory to support its specialized product mix.
Based on the provided data, the Debt/Equity ratio is frequently misapplied to this business model, as the reported 0.42 figure in 2026Q1 obscures the company's historical reliance on debt-funded acquisitions and the potential for significant off-balance-sheet or contingent liabilities related to its roll-up strategy.
Analysts should prioritize Debt/EBITDA over Debt/Equity when evaluating this firm, as the latter is highly sensitive to accounting adjustments and equity fluctuations that do not reflect the true debt-servicing burden. Relying on headline leverage ratios may lead to an underestimation of the financial risk inherent in the company's aggressive acquisition-led growth model.
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying CHEF stock.
The Chefs' Warehouse, Inc.'s current P/E ratio is 58.5x. The historical average is 45.1x. This places it at the 92th percentile of its historical range.
The Chefs' Warehouse, Inc.'s current EV/EBITDA is 21.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.6x.
The Chefs' Warehouse, Inc.'s return on equity (ROE) is 12.7%. The historical average is 10.3%.
Based on historical data, The Chefs' Warehouse, Inc. is trading at a P/E of 58.5x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Chefs' Warehouse, Inc. has 24.2% gross margin and 3.7% operating margin.
The Chefs' Warehouse, Inc.'s Debt/EBITDA ratio is 5.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.