Chefs' Warehouse, Inc. income statement
In fiscal 2025, Chefs' Warehouse, Inc. reported revenue of $4.15bn, up 9.4% on the year before, operating income of $145m (a 3.5% margin) and net income of $72.4m, or $1.68 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Dec 2009 | 2010Dec 2010 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 271 | 330 | 401 | 480 | 674 | 833 | 1,047 | 1,193 | 1,302 | 1,445 | 1,592 | 1,112 | 1,746 | 2,613 | 3,434 | 3,794 | 4,150 | 4,506 |
| Cost of revenue | 200 | 244 | 295 | 355 | 501 | 628 | 778 | 892 | 972 | 1,096 | 1,205 | 863 | 1,355 | 1,995 | 2,619 | 2,880 | 3,145 | 3,394 |
| Gross profit | 71 | 86 | 106 | 125 | 172 | 205 | 269 | 301 | 329 | 349 | 387 | 248 | 390 | 619 | 814 | 914 | 1,004 | 1,111 |
| Selling, general and administrative | — | — | — | — | — | — | — | — | — | 298 | 330 | 336 | 379 | 518 | 705 | 785 | 850 | 917 |
| Operating income | 13 | 22 | 28 | 29 | 37 | 33 | 40 | 47 | 41 | 49 | 51 | −103 | 11 | 86 | 101 | 128 | 145 | 186 |
| Interest expense | 3 | 4 | 15 | 4 | 8 | 8 | 13 | 42 | 23 | 21 | 18 | 21 | 18 | 44 | 45 | 49 | 42 | 39 |
| Income before tax | 11 | 18 | 13 | 25 | 29 | 25 | 28 | 6 | 18 | 28 | 32 | −124 | −7 | 42 | 55 | 80 | 104 | 148 |
| Income tax | 2 | 3 | 6 | 11 | 12 | 11 | 12 | 3 | 4 | 7 | 8 | −41 | −2 | 14 | 21 | 24 | 31 | 45 |
| Net income | 9 | 16 | 8 | 15 | 17 | 14 | 16 | 3 | 14 | 20 | 24 | −83 | −5 | 28 | 35 | 55 | 72 | 102 |
| Diluted EPS | $0.11 | −$0.50 | $0.43 | $0.69 | $0.77 | $0.57 | $0.63 | $0.12 | $0.54 | $0.70 | $0.81 | −$2.46 | −$0.13 | $0.73 | $0.88 | $1.32 | $1.68 | $2.22 |
| Diluted shares (average) | 24m | 21m | 18m | 21m | 22m | 25m | 27m | 26m | 27m | 30m | 30m | 34m | 37m | 39m | 46m | 46m | 46m | 46m |
| EBITDA | 15 | 23 | 30 | 33 | 39 | 36 | 46 | 54 | 50 | 59 | 64 | −83 | 33 | 110 | 134 | 169 | 199 | 247 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,034 | 951 | 1,035 | 1,021 | 1,143 | 1,059 | 1,169 | 1,135 |
| Cost of revenue | 783 | 725 | 781 | 774 | 866 | 802 | 876 | 851 |
| Gross profit | 251 | 226 | 254 | 247 | 277 | 257 | 293 | 284 |
| Selling, general and administrative | 207 | 203 | 214 | 208 | 225 | 224 | 234 | 233 |
| Operating income | 46 | 23 | 40 | 39 | 43 | 33 | 59 | 51 |
| Interest expense | 12 | 10 | 11 | 11 | 10 | 10 | 9 | 9 |
| Income before tax | 34 | 12 | 30 | 28 | 33 | 23 | 49 | 42 |
| Income tax | 11 | 2 | 8 | 9 | 11 | 5 | 15 | 13 |
| Net income | 24 | 10 | 21 | 19 | 22 | 17 | 34 | 30 |
| Diluted EPS | $0.55 | $0.25 | $0.49 | $0.44 | $0.50 | $0.40 | $0.76 | $0.67 |
| EBITDA | 58 | 35 | 53 | 53 | 58 | 48 | 74 | 67 |
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