Unifirst Corp filed its 10-K with the SEC, and its figures are now in our data. Revenue over the twelve months to Q4 2026 was $2.5 billion, a rise of 3.7% on the year before. That growth rate climbed 2.3 percentage points from the quarter earlier.
Source: SEC EDGAR XBRL company facts. Latest period shown: FY26 Q4.
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| Period | Revenue growth, TTM YoY | Operating margin (TTM) | FCF margin (TTM) |
|---|---|---|---|
| FY25 Q1 | 6.7% | 7.6% | 6.3% |
| FY25 Q2 | 5.0% | 7.7% | 6.7% |
| FY25 Q3 | 4.2% | 7.7% | 6.1% |
| FY25 Q4 | 0.2% | 7.6% | 5.9% |
| FY26 Q1 | 0.4% | 7.1% | 3.8% |
| FY26 Q2 | 0.8% | 6.8% | 3.7% |
| FY26 Q3 | 1.4% | 5.8% | 3.5% |
| FY26 Q4 | 3.7% | 5.4% | 2.8% |
What stands out
Net income fell 26.2% over the year while free cash flow dropped 50.3%, indicating reported profit and cash are moving at different speeds. Capital spending declined 12.8% as operating cash flow slipped 30.9%, leaving less of the generated cash in reserve.
Profit and margins
Earnings fell far less than cash, telling two distinct stories. The trailing gross margin stood at 36.6%. Meanwhile, the trailing operating margin was 5.4%, down 2.2 percentage points from a year earlier. The trailing net margin alongside these figures was 4.3%. Net income over the twelve months reached $109.5 million, falling 26.2% on the year before.
Where the cash went
Operating cash flow over the twelve months was $205.3 million, down 30.9% on the year before. Capital spending totaled $134.5 million, or 5.3% of revenue. Free cash flow, defined as operating cash flow less capital spending, came to $70.8 million, a drop of 50.3% on the year before. This represented 2.8% of revenue (the free-cash-flow margin), down 3.1 percentage points from a year earlier.
Share count
The average diluted share count decreased by 2.1% over the year.
Against its own history
Set against the company’s own record: today’s free-cash-flow margin of 2.8% is higher than 19% of the company’s own past quarterly readings, which have ranged from −1.1% to 9.6%. Today’s operating margin of 5.4% is below every past reading (5.8% to 14.0%). Today’s twelve-month revenue growth rate of 3.7% is higher than 28% of past readings (−5.0% to 12.9%).
The valuation angle
Our model translates these figures into value. In our model, growth 5 percentage points lower would lower the value by 21.9%, and 5 percentage points higher would raise it by 28.6%. A free-cash-flow margin 1 percentage point lower would lower it by 31.1%.
What comes next
The next filing will show whether the trends above continue, slow or reverse.
