Forensic Analysis · Trading Companies & Distributors · as of Aug 11, 2026

United Natural Foods Inc (UNFI)

A forensic read on United Natural Foods Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

C · Mixed — selective

Forensic grade

Grey Zone

Financial health

1.6

Distress distance

Clean

Earnings quality

Forensic signals

-75.2

P / E (ttm)

-7.6%

ROE

$2.8B

Market cap

0.00%

Dividend yield

2.6%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

United Natural Foods Inc earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 1.6, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-0.5%

FY2025

Return on invested capital. Return on invested capital is -0.5% in the latest fiscal year and slipping from 7% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.

stopped

FY2023→FY2025

Shareholder returns — halted. Capital returns have STOPPED — $62M of buybacks + dividends in FY2023, but ~$0 in FY2025. A halt usually means the company is conserving cash.

-0.4%/yr

FY2022–FY2025

Share count. Diluted share count changed -1% over the last 3 years to FY2025 (-0.4%/yr). Roughly flat — the count is neither shrinking nor growing meaningfully. Per-share value isn't being meaningfully helped or hurt by the count.

$717M

FY2019–FY2020

Goodwill impairments. Took $717M of goodwill writedowns across 2 years (FY2019 ($293M), FY2020 ($424M)). Writedowns mean past acquisitions underperformed what was paid for them.

Key fundamentals

Latest Revenue$31.78B

Revenue Growth YoY+2.6%

Revenue CAGR (3yr)+3.2%

Net Margin-0.4%

Free Cash Flow$239.0M

Return on Equity-7.6%

Debt / Equity1.20x

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.