Performance Food Group Company
- Open
- 107.57
- Day high
- 110.49
- Day low
- 107.56
- Prev close
- 107.27
- Volume
- 1.3M
- Mkt cap
- $17.7B
- P/E (TTM)
- 53.2
- EPS (TTM)
- $2.08
- P/B
- 3.8
- P/S
- 0.3
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$12.7M over the last 3 months (0 open-market buys, 24 sales)
- 🏛Institutions mixed (13F)
Performance Food Group Company (PFGC) is a Consumer Defensive company listed on NYSE. The stock is up 27% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 24 sales (SEC Form 4).
Performance Food Group Company (PFGC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PFGC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.77 | $0.80 | +3.9% | $16.3B | +0.8% |
| Feb 4, 2026 | $1.07 | $0.98 | -8.4% | $16.4B | +1.7% |
| Nov 5, 2025 | $1.21 | $1.18 | -2.5% | $17.1B | +1.2% |
| Aug 13, 2025 | $1.46 | $1.55 | +6.2% | $16.9B | +1.0% |
| May 7, 2025 | $0.87 | $0.79 | -9.1% | $15.3B | -0.1% |
| Feb 5, 2025 | $1.04 | $0.98 | -5.8% | $15.6B | +2.0% |
| Aug 14, 2024 | $1.37 | $1.45 | +5.8% | $15.2B | -0.4% |
| May 8, 2024 | $0.84 | $0.80 | -4.3% | $13.9B | -1.5% |
| Feb 7, 2024 | $0.92 | $0.90 | -2.2% | $14.3B | +0.1% |
| Aug 16, 2023 | $1.14 | $1.14 | +0.0% | $14.9B | -1.3% |
| Feb 8, 2023 | $0.76 | $0.83 | +9.2% | $13.9B | -0.1% |
| Nov 9, 2022 | $0.79 | $1.08 | +36.7% | $14.7B | +2.1% |
PFGC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 29, 2026 | DAVIS ERIKA Tofficer: See Remarks | Sell | 2,595 | $110.00 |
| Jun 22, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Option | 33,000 | $26.57 |
| Jun 22, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Sell | 17,473 | $104.59 |
| Jun 22, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Sell | 2,437 | $105.13 |
| Jun 22, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Sell | 13,090 | $103.46 |
| Jun 15, 2026 | KING A BRENTofficer: See Remarks | Sell | 6,111 | $105.00 |
| Jun 15, 2026 | DAVIS ERIKA Tofficer: See Remarks | Sell | 1,750 | $105.00 |
| Jun 10, 2026 | KING A BRENTofficer: See Remarks | Sell | 3,518 | $100.00 |
| Jun 10, 2026 | KING A BRENTofficer: See Remarks | Sell | 3,322 | $100.00 |
| Jun 5, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Sell | 400 | $97.22 |
| Jun 5, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Option | 33,000 | $26.57 |
| Jun 5, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Sell | 5,386 | $96.18 |
| Jun 5, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Sell | 7,924 | $95.13 |
| Jun 5, 2026 | HOLM GEORGE Ldirector, officer: See Remarks | Sell | 19,290 | $94.10 |
| Jun 2, 2026 | KING A BRENTofficer: See Remarks | Sell | 2,000 | $96.73 |
Source: PFGC SEC Form 4 filings, latest Jun 29, 2026. For informational purposes only — not investment advice.
See the full PFGC insider & 13F page →Performance Food Group Company company profile
Overview
Performance Food Group Company (NYSE:PFGC) is one of the largest food distribution companies in the United States, founded in 1885 and headquartered in Richmond, Virginia. The company has grown through strategic acquisitions and organic expansion to become a major player in the food distribution industry, serving a diverse range of customers from independent restaurants to convenience stores. PFGC went public in 2015 and has continued its growth trajectory through both acquisitions and operational improvements, with recent major acquisitions including Cheney Brothers and Core-Mark significantly expanding its market presence.
Business
Performance Food Group operates as a food distribution company that sources, stores, and delivers food and food-related products to various types of foodservice establishments across the United States. The company acts as a critical intermediary in the food supply chain, purchasing products from manufacturers and producers, then distributing them to end customers who serve food to consumers. The company operates through three main business segments: 1. **Foodservice segment** (approximately 70-75% of revenue): This is PFGC's largest division, focusing on distributing food products to independent restaurants, chain restaurants, healthcare facilities, schools, and other institutional customers. The segment offers a comprehensive range of frozen foods, fresh produce, meat, poultry, seafood, dairy products, and dry goods. This segment also includes Performance Brands, which are proprietary private-label products that typically offer higher margins than national brands. 2. **Convenience segment** (approximately 20-25% of revenue): This division serves convenience stores, gas stations, and small retailers with a mix of food products, beverages, snacks, candy, cigarettes, and other tobacco products. The segment has been expanding its foodservice offerings to convenience stores, helping them compete with quick-service restaurants by providing fresh, prepared foods. 3. **Vistar segment** (approximately 5-10% of revenue): This specialty distribution business serves unique venues including vending machine operators, office coffee services, theaters, concession stands, college bookstores, correctional facilities, and hospitality providers. Vistar focuses on products that work well in automated retail environments and specialized locations. The food distribution industry serves as the backbone connecting food manufacturers to foodservice operators, handling the complex logistics of moving perishable and non-perishable goods efficiently across vast geographic areas while maintaining food safety standards.
Revenue model
Performance Food Group generates revenue primarily through product sales with markup pricing, operating on a traditional distribution business model. The company purchases food and food-related products from manufacturers, processors, and producers, then sells them to foodservice operators at a markup that covers operational costs and generates profit margins typically ranging from 15-25% gross margin. The company's customers include independent restaurants, chain restaurants, convenience stores, healthcare facilities, schools, vending operators, and other institutional foodservice providers. PFGC serves over 300,000 customer locations across the United States, with independent restaurants representing the largest customer category. Revenue generation also includes value-added services such as menu development, product procurement consulting, and operational strategy services, which command premium pricing. The company's proprietary Performance Brands contribute significantly to profitability, as private-label products typically offer higher margins than national brand products. Several factors influence PFGC's profitability margins. **Positive margin drivers** include food inflation (which the company can pass through to customers), growth in higher-margin segments like independent restaurants, expansion of Performance Brands penetration, operational efficiency improvements, and economies of scale from acquisitions. **Negative margin pressures** come from food deflation periods, increased competition leading to pricing pressure, rising labor and transportation costs, fuel price volatility affecting delivery expenses, and economic downturns that reduce customer demand. The company's ability to maintain margins depends heavily on its operational efficiency, route density, and the strength of its customer relationships that allow for pricing power during inflationary periods.
Competitive moat
Performance Food Group operates in a business with moderate competitive moats built primarily around operational scale, geographic density, and customer relationships. The company's primary moat stems from its **route density and logistics network**, which creates significant barriers to entry for new competitors. Established distribution routes with high customer density per geographic area provide cost advantages that are difficult for smaller competitors to replicate, as the fixed costs of warehouses, trucks, and delivery infrastructure are spread across more customers. The company also benefits from **customer switching costs**, as foodservice operators become dependent on reliable delivery schedules, product availability, and established ordering systems. Independent restaurants, in particular, value consistent service and credit terms, making them less likely to switch distributors frequently. PFGC's **Performance Brands** create additional customer stickiness by offering differentiated products that customers cannot easily source elsewhere. However, the moat is not exceptionally strong. The food distribution industry faces competition from large players like Sysco and US Foods, which have similar scale advantages. **Potential disruption** could come from direct-to-restaurant delivery services, technology platforms that connect restaurants directly with producers, or Amazon's expansion into B2B food distribution. Additionally, large restaurant chains increasingly bypass distributors by negotiating directly with manufacturers, potentially reducing the addressable market. The company's moat is strongest in serving independent restaurants and specialized venues (through Vistar), where the complexity and smaller order sizes make direct sourcing less economical. The convenience store segment faces more competition from regional distributors and direct relationships between retailers and manufacturers. Overall, PFGC has a solid but not impregnable competitive position that requires continuous investment in operational efficiency and customer service to maintain.
Risks & safety
Performance Food Group presents a **moderate margin of safety** with some financial stress indicators but reasonable operational cash flow generation. **Debt and Solvency Concerns:** - High debt-to-equity ratio of 1.77 (Q3 2025), indicating significant leverage - Very low cash position of only $10.2 million against $4.2 billion in current liabilities - Total debt burden of approximately $12.8 billion in total liabilities - Recent major acquisitions (Cheney Brothers, Core-Mark) have increased leverage substantially **Positive Cash Flow Metrics:** - Strong operating cash flow of $448 million (Q3 2025) and free cash flow of $319 million - EBITDA of $362 million provides debt service coverage - Current ratio of 1.61 indicates ability to meet short-term obligations **Valuation Metrics:** - High P/E ratio of 51.4 suggests expensive valuation relative to earnings - EV/EBITDA of 13.6 is elevated for a distribution business - Price-to-book ratio of 2.76 indicates premium to book value **Other Considerations:** - Cyclical business model vulnerable to economic downturns - Working capital intensive operations requiring significant inventory investment - Integration risks from recent large acquisitions
Recent development
Over the past few years, Performance Food Group has pursued an aggressive **acquisition-driven growth strategy** while focusing on operational improvements and market share expansion. The company completed two major transformational acquisitions: **Core-Mark** (a convenience store distributor) and **Cheney Brothers** (a leading southeastern foodservice distributor acquired for $2.1 billion), significantly expanding its geographic footprint and customer base. The company has been **expanding its sales force** consistently, with 7% growth in sales associates to drive market share gains, particularly in the independent restaurant segment where PFGC has achieved consistent mid-single-digit case growth. This strategy has proven successful, with independent case growth ranging from 3-7% across recent quarters. **Performance Brands expansion** has been a key strategic initiative, with proprietary products now representing approximately 52% of total foodservice sales. These private-label products provide higher margins and customer differentiation. The company has also been **investing heavily in technology infrastructure**, including digital ordering platforms being rolled out across all segments and supply chain optimization systems. In the convenience segment, PFGC has been **pivoting toward foodservice offerings**, helping convenience stores compete with quick-service restaurants by providing fresh, prepared foods and restaurant-quality offerings. This represents a significant growth opportunity as convenience stores evolve their food offerings. The company has maintained a **disciplined approach to debt reduction** while remaining opportunistic about smaller acquisitions. Management has focused on achieving $50 million in annual synergies from the Cheney Brothers acquisition over three years while integrating operations and optimizing the combined distribution network.
PFGC company profile · for informational purposes only — not investment advice.
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