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Forensic Analysis · Nondurable-Goods Wholesale · as of Nov 10, 2026

US Foods Holding Corp. (USFD)

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

B · Sound & dependable
Forensic grade
Grey Zone
Financial health
1.9
Distress distance
Clean
Earnings quality
2
Forensic signals
15.3%
ROE
4.1%
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 (auditor quality, say on pay, board independence, going concern). 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.

US Foods Holding Corp. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 1.9, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

8.7%
FY2025
Return on invested capital. Return on invested capital is 8.7% in the latest fiscal year and steady across FY2023–FY2025, inside a 1.1-point range. After-tax operating profit was $759M in FY2023 and $903M in FY2025, with operating income at 2.9% of revenue in FY2023, 2.9% in FY2024 and 3.0% in FY2025. The capital base behind it went from $9.9B in FY2023 to $10.3B in FY2025 (+4%), while the revenue it carried went from $35.6B to $39.4B.
97% of FCF
FY2025
Shareholder returns. Returned $926M to shareholders (buybacks + dividends) in FY2025 — 97% of free cash flow. Right at the limit of what free cash flow covers — little room before it's funded by debt or the balance sheet. That ratio has been CLIMBING toward the limit — 35% of free cash flow two years back — not just sitting there. Counting the $83M of stock-based comp paid out in shares on top of that, the combined claim on free cash flow is 105%.

Key fundamentals

Latest Revenue$39.42B
Revenue Growth YoY+4.1%
Revenue CAGR (2yr)+5.2%
Net Margin1.7%
Free Cash Flow$959.0M
Return on Equity15.3%
Debt / Equity1.21x

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Data from SEC EDGAR public filings · metrics as of Nov 10, 2026. Forensic signals flag probability, not certainty.

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