# Food Distribution — company-by-company sector analysis

> Food Distribution: Sysco Corporation owns the largest revenue base; The Chefs' Warehouse, Inc. has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-28. Not investment advice.

## Bottom line

Food Distribution has outperformed S&P 500 by 21.1% over 52 weeks and 4.9% over 13 weeks. 6 of 8 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 8 beat the sector itself. Sysco Corporation leads with revenue of $83,567 million, based on 8 of 8 comparable companies through Mar 2026.

### Is the Food Distribution sector outperforming S&P 500?

Food Distribution has outperformed S&P 500 by 21.1% over 52 weeks and 4.9% over 13 weeks. 6 of 8 covered companies beat the S&P 500 on Mansfield relative strength, while 3 of 8 beat the sector itself.

### Which Food Distribution company is largest by revenue?

Sysco Corporation leads with revenue of $83,567 million, based on 8 of 8 comparable companies through Mar 2026.

### Which Food Distribution company is growing fastest?

The Chefs' Warehouse, Inc. has the fastest current revenue growth at 10%, across 8 of 8 comparable companies.

### Which Food Distribution company has the strongest 4-Factor Sector Score?

The Chefs' Warehouse, Inc. ranks first at 68.7/100 with 82% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Food Distribution company reports the most CAPEX?

Sysco Corporation reports the largest latest CAPEX at $161 million, with 8 of 8 companies comparable.

### Which Food Distribution company has the least gross debt?

G. Willi-Food International Ltd. has the lowest comparable gross debt at $8 million. Sysco Corporation has the highest at $15,381 million.

### Which Food Distribution company has the lowest comparable PEG?

G. Willi-Food International Ltd. has the lowest comparable Guarded PEG at 0.48, among 4 of 8 companies that pass the metric’s comparability rules.

### How much history does this Food Distribution comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

Food Distribution has outperformed S&P 500 by 21.1% over the last 52 weeks. Over 13 weeks the gap is a lead of 4.9%. 6 of 8 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. The Chefs' Warehouse, Inc. is the strongest against the sector itself at +19%.

13-week sector return versus NIFTY 500: 4.9%
52-week sector return versus NIFTY 500: 21%
Stocks leading NIFTY: 6/8
Stocks leading sector: 3/8

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 8
Combined market value: ₹92.4K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. The Chefs' Warehouse, Inc. (CHEF): 69/100 — Favorable setup; evidence 82%
   - Growth & earnings 26.2/35 | Capital efficiency 12.7/25 | Valuation 10.6/20 | Relative strength 19.2/20
   - Exact sum: 26.2 + 12.7 + 10.6 + 19.2 = 68.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. US Foods Holding Corp. (USFD): 58/100 — Mixed-positive evidence; evidence 82%
   - Growth & earnings 20.5/35 | Capital efficiency 11.1/25 | Valuation 14.7/20 | Relative strength 11.6/20
   - Exact sum: 20.5 + 11.1 + 14.7 + 11.6 = 57.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. G. Willi-Food International Ltd. (WILC): 53/100 — Mixed-positive evidence; evidence 76%
   - Growth & earnings 12.7/35 | Capital efficiency 17.2/25 | Valuation 16.5/20 | Relative strength 7.0/20
   - Exact sum: 12.7 + 17.2 + 16.5 + 7 = 53.4
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
4. The Andersons, Inc. (ANDE): 50/100 — Mixed-positive evidence; evidence 82%
   - Growth & earnings 16.4/35 | Capital efficiency 9.1/25 | Valuation 14.4/20 | Relative strength 10.5/20
   - Exact sum: 16.4 + 9.1 + 14.4 + 10.5 = 50.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5. United Natural Foods, Inc. (UNFI): 46/100 — Mixed-negative evidence; evidence 68%
   - Growth & earnings 18.3/35 | Capital efficiency 6.1/25 | Valuation 8.5/20 | Relative strength 13.2/20
   - Exact sum: 18.3 + 6.1 + 8.5 + 13.2 = 46.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Performance Food Group Company (PFGC): 46/100 — Mixed-negative evidence; evidence 72%
   - Growth & earnings 15.5/35 | Capital efficiency 8.8/25 | Valuation 9.4/20 | Relative strength 12.0/20
   - Exact sum: 15.5 + 8.8 + 9.4 + 12 = 45.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7. Sysco Corporation (SYY): 43/100 — Mixed-negative evidence; evidence 72%
   - Growth & earnings 14.1/35 | Capital efficiency 12.0/25 | Valuation 10.6/20 | Relative strength 6.6/20
   - Exact sum: 14.1 + 12 + 10.6 + 6.6 = 43.3
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8. Mission Produce, Inc. (AVO): 22/100 — Adverse evidence; evidence 70%
   - Growth & earnings 2.1/35 | Capital efficiency 8.0/25 | Valuation 8.9/20 | Relative strength 3.0/20
   - Exact sum: 2.1 + 8 + 8.9 + 3 = 22
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

## Revenue Scale & Growth Durability

What the numbers say: Sysco Corporation is the scale leader at $83,567 million, 25.2% ahead of Performance Food Group Company. The Chefs' Warehouse, Inc.'s growth is 10% from a $4,258 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Sysco Corporation is the scale benchmark; The Chefs' Warehouse, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Sysco Corporation's growth falls below The Chefs' Warehouse, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Evidence: Sysco Corporation · $83,567 million | 25.2% versus #2 · Performance Food Group Company | 8/8 recent comparable periods | 8/8 companies · 151 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Sysco Corporation (SYY): ₹83.6K Cr
2. Performance Food Group Company (PFGC): ₹66.8K Cr
3. US Foods Holding Corp. (USFD): ₹39.7K Cr
4. United Natural Foods, Inc. (UNFI): ₹31.2K Cr
5. The Andersons, Inc. (ANDE): ₹11.0K Cr

### Revenue growth — fastest growers
1. The Chefs' Warehouse, Inc. (CHEF): 10%
2. Performance Food Group Company (PFGC): 8.5%
3. G. Willi-Food International Ltd. (WILC): 6.3%
4. US Foods Holding Corp. (USFD): 3.7%
5. Sysco Corporation (SYY): 3.4%

### 20-quarter Revenue history
- SYY: Sep 2021 ₹16.1K Cr | Dec 2021 ₹16.5K Cr | Mar 2022 ₹16.3K Cr | Jun 2022 ₹16.9K Cr | Sep 2022 ₹19.0K Cr | Dec 2022 ₹19.1K Cr | Mar 2023 — | Jun 2023 ₹18.9K Cr | Sep 2023 ₹19.7K Cr | Dec 2023 ₹19.3K Cr | Mar 2024 ₹19.4K Cr | Jun 2024 ₹20.6K Cr | Sep 2024 ₹20.5K Cr | Dec 2024 ₹20.2K Cr | Mar 2025 ₹19.6K Cr | Jun 2025 ₹21.1K Cr | Sep 2025 ₹21.1K Cr | Dec 2025 ₹20.8K Cr | Mar 2026 ₹20.5K Cr | Jun 2026 —
- USFD: Sep 2021 ₹7.7K Cr | Dec 2021 ₹7.9K Cr | Mar 2022 ₹7.6K Cr | Jun 2022 ₹7.8K Cr | Sep 2022 ₹8.8K Cr | Dec 2022 ₹8.9K Cr | Mar 2023 — | Jun 2023 ₹8.5K Cr | Sep 2023 ₹9.0K Cr | Dec 2023 ₹8.9K Cr | Mar 2024 ₹8.9K Cr | Jun 2024 ₹9.7K Cr | Sep 2024 ₹9.7K Cr | Dec 2024 ₹9.5K Cr | Mar 2025 ₹9.4K Cr | Jun 2025 ₹10.1K Cr | Sep 2025 ₹10.2K Cr | Dec 2025 ₹9.8K Cr | Mar 2026 ₹9.6K Cr | Jun 2026 —
- PFGC: Sep 2021 ₹9.3K Cr | Dec 2021 ₹10.4K Cr | Mar 2022 ₹12.8K Cr | Jun 2022 ₹13.1K Cr | Sep 2022 ₹14.6K Cr | Dec 2022 ₹14.7K Cr | Mar 2023 — | Jun 2023 ₹13.8K Cr | Sep 2023 ₹14.9K Cr | Dec 2023 ₹14.3K Cr | Mar 2024 ₹13.9K Cr | Jun 2024 ₹15.2K Cr | Sep 2024 ₹15.4K Cr | Dec 2024 ₹15.6K Cr | Mar 2025 ₹15.3K Cr | Jun 2025 ₹16.9K Cr | Sep 2025 ₹17.1K Cr | Dec 2025 ₹16.4K Cr | Mar 2026 ₹16.3K Cr | Jun 2026 —
- CHEF: Sep 2021 ₹484 Cr | Dec 2021 ₹558 Cr | Mar 2022 ₹512 Cr | Jun 2022 ₹648 Cr | Sep 2022 ₹662 Cr | Dec 2022 ₹791 Cr | Mar 2023 ₹720 Cr | Jun 2023 ₹882 Cr | Sep 2023 ₹882 Cr | Dec 2023 ₹950 Cr | Mar 2024 ₹874 Cr | Jun 2024 ₹955 Cr | Sep 2024 ₹931 Cr | Dec 2024 ₹1.0K Cr | Mar 2025 ₹951 Cr | Jun 2025 ₹1.0K Cr | Sep 2025 ₹1.0K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.1K Cr | Jun 2026 —
- UNFI: Sep 2021 ₹6.7K Cr | Dec 2021 ₹7.0K Cr | Mar 2022 ₹7.4K Cr | Jun 2022 ₹7.2K Cr | Sep 2022 ₹7.3K Cr | Dec 2022 ₹7.5K Cr | Mar 2023 ₹7.8K Cr | Jun 2023 ₹7.5K Cr | Sep 2023 ₹7.4K Cr | Dec 2023 ₹7.6K Cr | Mar 2024 ₹7.8K Cr | Jun 2024 ₹7.5K Cr | Sep 2024 ₹8.2K Cr | Dec 2024 ₹7.9K Cr | Mar 2025 ₹8.2K Cr | Jun 2025 ₹8.1K Cr | Sep 2025 ₹7.7K Cr | Dec 2025 ₹7.8K Cr | Mar 2026 ₹7.9K Cr | Jun 2026 ₹7.7K Cr
- ANDE: Sep 2021 ₹3.0K Cr | Dec 2021 ₹3.8K Cr | Mar 2022 ₹4.0K Cr | Jun 2022 ₹4.5K Cr | Sep 2022 ₹4.2K Cr | Dec 2022 ₹4.7K Cr | Mar 2023 ₹3.9K Cr | Jun 2023 ₹4.0K Cr | Sep 2023 ₹3.6K Cr | Dec 2023 ₹3.2K Cr | Mar 2024 ₹2.7K Cr | Jun 2024 ₹2.8K Cr | Sep 2024 ₹2.6K Cr | Dec 2024 ₹3.1K Cr | Mar 2025 ₹2.7K Cr | Jun 2025 ₹3.1K Cr | Sep 2025 ₹2.7K Cr | Dec 2025 ₹2.5K Cr | Mar 2026 ₹2.6K Cr | Jun 2026 —
- AVO: Sep 2021 ₹247 Cr | Dec 2021 ₹237 Cr | Mar 2022 ₹217 Cr | Jun 2022 ₹278 Cr | Sep 2022 ₹313 Cr | Dec 2022 ₹238 Cr | Mar 2023 ₹214 Cr | Jun 2023 ₹221 Cr | Sep 2023 ₹261 Cr | Dec 2023 ₹258 Cr | Mar 2024 ₹259 Cr | Jun 2024 ₹298 Cr | Sep 2024 ₹324 Cr | Dec 2024 ₹354 Cr | Mar 2025 ₹334 Cr | Jun 2025 ₹380 Cr | Sep 2025 ₹358 Cr | Dec 2025 ₹319 Cr | Mar 2026 ₹279 Cr | Jun 2026 ₹291 Cr
- WILC: Sep 2021 ₹106 Cr | Dec 2021 ₹117 Cr | Mar 2022 ₹118 Cr | Jun 2022 ₹123 Cr | Sep 2022 ₹124 Cr | Dec 2022 ₹133 Cr | Mar 2023 ₹151 Cr | Jun 2023 ₹129 Cr | Sep 2023 ₹124 Cr | Dec 2023 ₹139 Cr | Mar 2024 ₹136 Cr | Jun 2024 ₹147 Cr | Sep 2024 ₹153 Cr | Dec 2024 ₹140 Cr | Mar 2025 ₹145 Cr | Jun 2025 ₹160 Cr | Sep 2025 ₹153 Cr | Dec 2025 ₹152 Cr | Mar 2026 ₹157 Cr | Jun 2026 —

### 20-quarter Revenue growth history
- SYY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 17% | Dec 2022 16% | Mar 2023 — | Jun 2023 12% | Sep 2023 4.1% | Dec 2023 0.8% | Mar 2024 — | Jun 2024 8.9% | Sep 2024 3.8% | Dec 2024 4.5% | Mar 2025 1.1% | Jun 2025 2.8% | Sep 2025 3.2% | Dec 2025 3.0% | Mar 2026 4.7% | Jun 2026 —
- USFD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 15% | Dec 2022 13% | Mar 2023 — | Jun 2023 9.5% | Sep 2023 2.1% | Dec 2023 0.2% | Mar 2024 — | Jun 2024 14% | Sep 2024 7.9% | Dec 2024 6.2% | Mar 2025 4.5% | Jun 2025 3.8% | Sep 2025 4.8% | Dec 2025 3.3% | Mar 2026 2.8% | Jun 2026 —
- PFGC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 57% | Dec 2022 42% | Mar 2023 — | Jun 2023 5.3% | Sep 2023 1.9% | Dec 2023 -2.9% | Mar 2024 — | Jun 2024 10% | Sep 2024 3.7% | Dec 2024 9.4% | Mar 2025 10% | Jun 2025 12% | Sep 2025 11% | Dec 2025 5.2% | Mar 2026 6.4% | Jun 2026 —
- CHEF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 53% | Sep 2022 37% | Dec 2022 42% | Mar 2023 41% | Jun 2023 36% | Sep 2023 33% | Dec 2023 20% | Mar 2024 21% | Jun 2024 8.3% | Sep 2024 5.6% | Dec 2024 8.8% | Mar 2025 8.8% | Jun 2025 8.4% | Sep 2025 9.7% | Dec 2025 11% | Mar 2026 11% | Jun 2026 —
- UNFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 8.0% | Dec 2022 7.7% | Mar 2023 5.4% | Jun 2023 3.7% | Sep 2023 2.0% | Dec 2023 0.3% | Mar 2024 -0.5% | Jun 2024 -0.1% | Sep 2024 10.0% | Dec 2024 4.2% | Mar 2025 4.9% | Jun 2025 7.5% | Sep 2025 -5.6% | Dec 2025 -0.4% | Mar 2026 -2.6% | Jun 2026 -4.2%
- ANDE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 38% | Sep 2022 41% | Dec 2022 24% | Mar 2023 -2.4% | Jun 2023 -9.7% | Sep 2023 -14% | Dec 2023 -31% | Mar 2024 -30% | Jun 2024 -30% | Sep 2024 -28% | Dec 2024 -2.8% | Mar 2025 -2.2% | Jun 2025 12% | Sep 2025 2.2% | Dec 2025 -19% | Mar 2026 -1.2% | Jun 2026 —
- AVO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 27% | Dec 2022 0.4% | Mar 2023 -1.4% | Jun 2023 -21% | Sep 2023 -17% | Dec 2023 8.4% | Mar 2024 21% | Jun 2024 35% | Sep 2024 24% | Dec 2024 37% | Mar 2025 29% | Jun 2025 28% | Sep 2025 10% | Dec 2025 -9.9% | Mar 2026 -16% | Jun 2026 -23%
- WILC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 7.9% | Sep 2022 17% | Dec 2022 14% | Mar 2023 28% | Jun 2023 4.9% | Sep 2023 0.0% | Dec 2023 4.5% | Mar 2024 -9.9% | Jun 2024 14% | Sep 2024 23% | Dec 2024 0.7% | Mar 2025 6.6% | Jun 2025 8.8% | Sep 2025 0.0% | Dec 2025 8.6% | Mar 2026 8.3% | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: G. Willi-Food International Ltd. leads opm at 12.8%; The Chefs' Warehouse, Inc. leads margin change at +0.7 percentage points.

Investor read: G. Willi-Food International Ltd. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: G. Willi-Food International Ltd. · 12.8% | 312.9% versus #2 · The Chefs' Warehouse, Inc. | 6/8 recent comparable periods | 8/8 companies · 151 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. G. Willi-Food International Ltd. (WILC): 13%
2. The Chefs' Warehouse, Inc. (CHEF): 3.1%
3. Sysco Corporation (SYY): 3.0%
4. US Foods Holding Corp. (USFD): 2.2%
5. Performance Food Group Company (PFGC): 0.9%

### Margin change — fastest expanders
1. The Chefs' Warehouse, Inc. (CHEF): +0.7 pp
2. United Natural Foods, Inc. (UNFI): +0.7 pp
3. The Andersons, Inc. (ANDE): +0.3 pp
4. Performance Food Group Company (PFGC): −0.2 pp
5. US Foods Holding Corp. (USFD): −0.2 pp

### 20-quarter OPM history
- SYY: Sep 2021 3.6% | Dec 2021 3.8% | Mar 2022 2.7% | Jun 2022 2.9% | Sep 2022 4.1% | Dec 2022 3.9% | Mar 2023 — | Jun 2023 3.7% | Sep 2023 4.9% | Dec 2023 3.6% | Mar 2024 3.7% | Jun 2024 4.7% | Sep 2024 3.9% | Dec 2024 3.5% | Mar 2025 3.5% | Jun 2025 4.2% | Sep 2025 3.8% | Dec 2025 3.3% | Mar 2026 3.0% | Jun 2026 —
- USFD: Sep 2021 1.6% | Dec 2021 1.7% | Mar 2022 1.8% | Jun 2022 0.4% | Sep 2022 1.7% | Dec 2022 2.4% | Mar 2023 — | Jun 2023 2.2% | Sep 2023 3.6% | Dec 2023 3.1% | Mar 2024 1.8% | Jun 2024 3.6% | Sep 2024 2.9% | Dec 2024 3.2% | Mar 2025 2.4% | Jun 2025 3.7% | Sep 2025 2.8% | Dec 2025 3.3% | Mar 2026 2.2% | Jun 2026 —
- PFGC: Sep 2021 0.9% | Dec 2021 0.5% | Mar 2022 0.5% | Jun 2022 0.5% | Sep 2022 1.0% | Dec 2022 1.3% | Mar 2023 — | Jun 2023 1.2% | Sep 2023 1.8% | Dec 2023 1.2% | Mar 2024 1.1% | Jun 2024 1.9% | Sep 2024 1.4% | Dec 2024 1.0% | Mar 2025 1.1% | Jun 2025 1.6% | Sep 2025 1.3% | Dec 2025 1.2% | Mar 2026 0.9% | Jun 2026 —
- CHEF: Sep 2021 2.2% | Dec 2021 2.8% | Mar 2022 1.2% | Jun 2022 4.3% | Sep 2022 3.3% | Dec 2022 3.8% | Mar 2023 1.7% | Jun 2023 2.9% | Sep 2023 2.9% | Dec 2023 4.0% | Mar 2024 1.8% | Jun 2024 3.5% | Sep 2024 3.4% | Dec 2024 4.5% | Mar 2025 2.4% | Jun 2025 3.9% | Sep 2025 3.8% | Dec 2025 3.8% | Mar 2026 3.1% | Jun 2026 —
- UNFI: Sep 2021 0.7% | Dec 2021 1.5% | Mar 2022 1.7% | Jun 2022 1.7% | Sep 2022 0.9% | Dec 2022 1.3% | Mar 2023 0.8% | Jun 2023 0.4% | Sep 2023 -1.0% | Dec 2023 -0.2% | Mar 2024 0.2% | Jun 2024 0.1% | Sep 2024 0.0% | Dec 2024 0.1% | Mar 2025 0.3% | Jun 2025 0.2% | Sep 2025 -1.0% | Dec 2025 0.2% | Mar 2026 0.7% | Jun 2026 0.9%
- ANDE: Sep 2021 0.4% | Dec 2021 2.2% | Mar 2022 0.4% | Jun 2022 2.7% | Sep 2022 1.1% | Dec 2022 0.7% | Mar 2023 -1.5% | Jun 2023 2.6% | Sep 2023 0.9% | Dec 2023 2.6% | Mar 2024 0.3% | Jun 2024 2.1% | Sep 2024 2.2% | Dec 2024 2.1% | Mar 2025 0.3% | Jun 2025 0.8% | Sep 2025 -0.1% | Dec 2025 3.9% | Mar 2026 0.6% | Jun 2026 —
- AVO: Sep 2021 9.6% | Dec 2021 7.7% | Mar 2022 -8.4% | Jun 2022 0.4% | Sep 2022 7.0% | Dec 2022 -18% | Mar 2023 -4.7% | Jun 2023 -0.5% | Sep 2023 4.2% | Dec 2023 2.8% | Mar 2024 3.1% | Jun 2024 4.1% | Sep 2024 5.2% | Dec 2024 8.1% | Mar 2025 2.8% | Jun 2025 1.8% | Sep 2025 5.9% | Dec 2025 8.8% | Mar 2026 0.9% | Jun 2026 -2.4%
- WILC: Sep 2021 7.7% | Dec 2021 11% | Mar 2022 8.0% | Jun 2022 12% | Sep 2022 7.7% | Dec 2022 8.7% | Mar 2023 8.6% | Jun 2023 0.8% | Sep 2023 0.4% | Dec 2023 4.2% | Mar 2024 8.5% | Jun 2024 15% | Sep 2024 12% | Dec 2024 7.9% | Mar 2025 14% | Jun 2025 13% | Sep 2025 12% | Dec 2025 11% | Mar 2026 13% | Jun 2026 —

### 20-quarter Margin change history
- SYY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.5 pp | Dec 2022 +0.1 pp | Mar 2023 — | Jun 2023 +0.8 pp | Sep 2023 +0.8 pp | Dec 2023 −0.3 pp | Mar 2024 — | Jun 2024 +1.0 pp | Sep 2024 −1.0 pp | Dec 2024 −0.1 pp | Mar 2025 −0.2 pp | Jun 2025 −0.5 pp | Sep 2025 −0.1 pp | Dec 2025 −0.2 pp | Mar 2026 −0.5 pp | Jun 2026 —
- USFD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.1 pp | Dec 2022 +0.7 pp | Mar 2023 — | Jun 2023 +1.8 pp | Sep 2023 +1.9 pp | Dec 2023 +0.7 pp | Mar 2024 — | Jun 2024 +1.4 pp | Sep 2024 −0.7 pp | Dec 2024 +0.1 pp | Mar 2025 +0.6 pp | Jun 2025 +0.1 pp | Sep 2025 −0.1 pp | Dec 2025 +0.1 pp | Mar 2026 −0.2 pp | Jun 2026 —
- PFGC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.1 pp | Dec 2022 +0.8 pp | Mar 2023 — | Jun 2023 +0.7 pp | Sep 2023 +0.8 pp | Dec 2023 −0.1 pp | Mar 2024 — | Jun 2024 +0.7 pp | Sep 2024 −0.4 pp | Dec 2024 −0.2 pp | Mar 2025 0.0 pp | Jun 2025 −0.3 pp | Sep 2025 −0.1 pp | Dec 2025 +0.2 pp | Mar 2026 −0.2 pp | Jun 2026 —
- CHEF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +3.2 pp | Sep 2022 +1.1 pp | Dec 2022 +1.0 pp | Mar 2023 +0.5 pp | Jun 2023 −1.4 pp | Sep 2023 −0.4 pp | Dec 2023 +0.2 pp | Mar 2024 +0.1 pp | Jun 2024 +0.6 pp | Sep 2024 +0.5 pp | Dec 2024 +0.5 pp | Mar 2025 +0.6 pp | Jun 2025 +0.4 pp | Sep 2025 +0.4 pp | Dec 2025 −0.7 pp | Mar 2026 +0.7 pp | Jun 2026 —
- UNFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.2 pp | Dec 2022 −0.2 pp | Mar 2023 −0.9 pp | Jun 2023 −1.3 pp | Sep 2023 −1.9 pp | Dec 2023 −1.5 pp | Mar 2024 −0.6 pp | Jun 2024 −0.3 pp | Sep 2024 +1.0 pp | Dec 2024 +0.3 pp | Mar 2025 +0.1 pp | Jun 2025 +0.1 pp | Sep 2025 −1.0 pp | Dec 2025 +0.1 pp | Mar 2026 +0.4 pp | Jun 2026 +0.7 pp
- ANDE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +0.9 pp | Sep 2022 +0.7 pp | Dec 2022 −1.5 pp | Mar 2023 −1.9 pp | Jun 2023 −0.1 pp | Sep 2023 −0.2 pp | Dec 2023 +1.9 pp | Mar 2024 +1.8 pp | Jun 2024 −0.5 pp | Sep 2024 +1.3 pp | Dec 2024 −0.5 pp | Mar 2025 0.0 pp | Jun 2025 −1.3 pp | Sep 2025 −2.3 pp | Dec 2025 +1.8 pp | Mar 2026 +0.3 pp | Jun 2026 —
- AVO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.6 pp | Dec 2022 −25.4 pp | Mar 2023 +3.7 pp | Jun 2023 −0.9 pp | Sep 2023 −2.8 pp | Dec 2023 +20.5 pp | Mar 2024 +7.8 pp | Jun 2024 +4.6 pp | Sep 2024 +1.0 pp | Dec 2024 +5.3 pp | Mar 2025 −0.3 pp | Jun 2025 −2.3 pp | Sep 2025 +0.7 pp | Dec 2025 +0.7 pp | Mar 2026 −1.9 pp | Jun 2026 −4.2 pp
- WILC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −0.2 pp | Sep 2022 0.0 pp | Dec 2022 −1.9 pp | Mar 2023 +0.6 pp | Jun 2023 −11.0 pp | Sep 2023 −7.3 pp | Dec 2023 −4.5 pp | Mar 2024 −0.1 pp | Jun 2024 +13.7 pp | Sep 2024 +11.1 pp | Dec 2024 +3.7 pp | Mar 2025 +5.3 pp | Jun 2025 −1.6 pp | Sep 2025 +0.5 pp | Dec 2025 +3.2 pp | Mar 2026 −1.0 pp | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Sysco Corporation leads with $1,736 million of TTM profit, 156.4% above US Foods Holding Corp.. US Foods Holding Corp. shows 28.5% growth from a $677 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Sysco Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Sysco Corporation · $1,736 million | 156.4% versus #2 · US Foods Holding Corp. | 1/8 recent comparable periods | 8/8 companies · 151 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Sysco Corporation (SYY): ₹1.7K Cr
2. US Foods Holding Corp. (USFD): ₹677 Cr
3. Performance Food Group Company (PFGC): ₹330 Cr
4. The Andersons, Inc. (ANDE): ₹143 Cr
5. The Chefs' Warehouse, Inc. (CHEF): ₹79 Cr

### Profit growth — fastest growers
1. US Foods Holding Corp. (USFD): 29%
2. The Chefs' Warehouse, Inc. (CHEF): 23%
3. Sysco Corporation (SYY): -9.1%
4. The Andersons, Inc. (ANDE): -12%
5. Performance Food Group Company (PFGC): -12%

### 20-quarter Net profit history
- SYY: Sep 2021 ₹151 Cr | Dec 2021 ₹378 Cr | Mar 2022 ₹167 Cr | Jun 2022 ₹303 Cr | Sep 2022 ₹510 Cr | Dec 2022 ₹466 Cr | Mar 2023 — | Jun 2023 ₹430 Cr | Sep 2023 ₹734 Cr | Dec 2023 ₹415 Cr | Mar 2024 ₹425 Cr | Jun 2024 ₹612 Cr | Sep 2024 ₹490 Cr | Dec 2024 ₹406 Cr | Mar 2025 ₹401 Cr | Jun 2025 ₹531 Cr | Sep 2025 ₹476 Cr | Dec 2025 ₹389 Cr | Mar 2026 ₹340 Cr | Jun 2026 —
- USFD: Sep 2021 ₹55 Cr | Dec 2021 ₹64 Cr | Mar 2022 ₹69 Cr | Jun 2022 ₹-15 Cr | Sep 2022 ₹70 Cr | Dec 2022 ₹109 Cr | Mar 2023 — | Jun 2023 ₹82 Cr | Sep 2023 ₹182 Cr | Dec 2023 ₹147 Cr | Mar 2024 ₹82 Cr | Jun 2024 ₹198 Cr | Sep 2024 ₹148 Cr | Dec 2024 ₹66 Cr | Mar 2025 ₹115 Cr | Jun 2025 ₹224 Cr | Sep 2025 ₹153 Cr | Dec 2025 ₹184 Cr | Mar 2026 ₹116 Cr | Jun 2026 —
- PFGC: Sep 2021 ₹44 Cr | Dec 2021 ₹5 Cr | Mar 2022 ₹8 Cr | Jun 2022 ₹23 Cr | Sep 2022 ₹76 Cr | Dec 2022 ₹96 Cr | Mar 2023 — | Jun 2023 ₹80 Cr | Sep 2023 ₹150 Cr | Dec 2023 ₹78 Cr | Mar 2024 ₹70 Cr | Jun 2024 ₹167 Cr | Sep 2024 ₹108 Cr | Dec 2024 ₹42 Cr | Mar 2025 ₹58 Cr | Jun 2025 ₹132 Cr | Sep 2025 ₹94 Cr | Dec 2025 ₹62 Cr | Mar 2026 ₹42 Cr | Jun 2026 —
- CHEF: Sep 2021 ₹3 Cr | Dec 2021 ₹8 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹17 Cr | Sep 2022 ₹8 Cr | Dec 2022 ₹1 Cr | Mar 2023 ₹1 Cr | Jun 2023 ₹10 Cr | Sep 2023 ₹7 Cr | Dec 2023 ₹16 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹16 Cr | Sep 2024 ₹14 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹10 Cr | Jun 2025 ₹21 Cr | Sep 2025 ₹19 Cr | Dec 2025 ₹22 Cr | Mar 2026 ₹17 Cr | Jun 2026 —
- UNFI: Sep 2021 ₹41 Cr | Dec 2021 ₹77 Cr | Mar 2022 ₹68 Cr | Jun 2022 ₹68 Cr | Sep 2022 ₹41 Cr | Dec 2022 ₹67 Cr | Mar 2023 ₹22 Cr | Jun 2023 ₹8 Cr | Sep 2023 ₹-67 Cr | Dec 2023 ₹-39 Cr | Mar 2024 ₹-14 Cr | Jun 2024 ₹-20 Cr | Sep 2024 ₹-37 Cr | Dec 2024 ₹-20 Cr | Mar 2025 ₹-2 Cr | Jun 2025 ₹-7 Cr | Sep 2025 ₹-86 Cr | Dec 2025 ₹-4 Cr | Mar 2026 ₹20 Cr | Jun 2026 ₹33 Cr
- ANDE: Sep 2021 ₹26 Cr | Dec 2021 ₹128 Cr | Mar 2022 ₹12 Cr | Jun 2022 ₹204 Cr | Sep 2022 ₹69 Cr | Dec 2022 ₹36 Cr | Mar 2023 ₹-59 Cr | Jun 2023 ₹83 Cr | Sep 2023 ₹31 Cr | Dec 2023 ₹78 Cr | Mar 2024 ₹13 Cr | Jun 2024 ₹52 Cr | Sep 2024 ₹51 Cr | Dec 2024 ₹54 Cr | Mar 2025 ₹5 Cr | Jun 2025 ₹17 Cr | Sep 2025 ₹26 Cr | Dec 2025 ₹71 Cr | Mar 2026 ₹29 Cr | Jun 2026 —
- AVO: Sep 2021 ₹18 Cr | Dec 2021 ₹17 Cr | Mar 2022 ₹-13 Cr | Jun 2022 ₹2 Cr | Sep 2022 ₹18 Cr | Dec 2022 ₹-42 Cr | Mar 2023 ₹-11 Cr | Jun 2023 ₹-5 Cr | Sep 2023 ₹6 Cr | Dec 2023 ₹6 Cr | Mar 2024 ₹2 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹12 Cr | Dec 2024 ₹21 Cr | Mar 2025 ₹6 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹15 Cr | Dec 2025 ₹17 Cr | Mar 2026 ₹0 Cr | Jun 2026 ₹-7 Cr
- WILC: Sep 2021 ₹5 Cr | Dec 2021 ₹3 Cr | Mar 2022 ₹14 Cr | Jun 2022 ₹7 Cr | Sep 2022 ₹8 Cr | Dec 2022 ₹13 Cr | Mar 2023 ₹11 Cr | Jun 2023 ₹5 Cr | Sep 2023 ₹5 Cr | Dec 2023 ₹11 Cr | Mar 2024 ₹19 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹21 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹20 Cr | Jun 2025 ₹32 Cr | Sep 2025 ₹19 Cr | Dec 2025 ₹-21 Cr | Mar 2026 ₹20 Cr | Jun 2026 —

### 20-quarter Profit growth history
- SYY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 238% | Dec 2022 23% | Mar 2023 — | Jun 2023 42% | Sep 2023 44% | Dec 2023 -11% | Mar 2024 — | Jun 2024 42% | Sep 2024 -33% | Dec 2024 -2.2% | Mar 2025 -5.7% | Jun 2025 -13% | Sep 2025 -2.9% | Dec 2025 -4.2% | Mar 2026 -15% | Jun 2026 —
- USFD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 27% | Dec 2022 70% | Mar 2023 — | Jun 2023 — | Sep 2023 160% | Dec 2023 35% | Mar 2024 — | Jun 2024 141% | Sep 2024 -19% | Dec 2024 -55% | Mar 2025 40% | Jun 2025 13% | Sep 2025 3.4% | Dec 2025 179% | Mar 2026 0.9% | Jun 2026 —
- PFGC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 73% | Dec 2022 1,820% | Mar 2023 — | Jun 2023 248% | Sep 2023 97% | Dec 2023 -19% | Mar 2024 — | Jun 2024 109% | Sep 2024 -28% | Dec 2024 -46% | Mar 2025 -17% | Jun 2025 -21% | Sep 2025 -13% | Dec 2025 48% | Mar 2026 -28% | Jun 2026 —
- CHEF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1,600% | Sep 2022 167% | Dec 2022 -88% | Mar 2023 0.0% | Jun 2023 -41% | Sep 2023 -13% | Dec 2023 1,500% | Mar 2024 100% | Jun 2024 60% | Sep 2024 100% | Dec 2024 50% | Mar 2025 400% | Jun 2025 31% | Sep 2025 36% | Dec 2025 -8.3% | Mar 2026 70% | Jun 2026 —
- UNFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0% | Dec 2022 -13% | Mar 2023 -68% | Jun 2023 -88% | Sep 2023 -263% | Dec 2023 -158% | Mar 2024 -164% | Jun 2024 -350% | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ANDE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 127% | Sep 2022 165% | Dec 2022 -72% | Mar 2023 -592% | Jun 2023 -59% | Sep 2023 -55% | Dec 2023 117% | Mar 2024 — | Jun 2024 -37% | Sep 2024 65% | Dec 2024 -31% | Mar 2025 -62% | Jun 2025 -67% | Sep 2025 -49% | Dec 2025 31% | Mar 2026 480% | Jun 2026 —
- AVO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 0.0% | Dec 2022 -347% | Mar 2023 — | Jun 2023 -350% | Sep 2023 -67% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 100% | Dec 2024 250% | Mar 2025 200% | Jun 2025 -57% | Sep 2025 25% | Dec 2025 -19% | Mar 2026 -100% | Jun 2026 -333%
- WILC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -59% | Sep 2022 60% | Dec 2022 333% | Mar 2023 -21% | Jun 2023 -29% | Sep 2023 -38% | Dec 2023 -15% | Mar 2024 73% | Jun 2024 40% | Sep 2024 320% | Dec 2024 118% | Mar 2025 5.3% | Jun 2025 357% | Sep 2025 -9.5% | Dec 2025 -188% | Mar 2026 0.0% | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: Sysco Corporation reports $161 million of CAPEX; G. Willi-Food International Ltd. has the highest covered intensity at 7%. Coverage is only 8 of 8 companies and 151 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: Sysco Corporation · $161 million | 64.3% versus #2 · US Foods Holding Corp. | 8/8 recent comparable periods | 8/8 companies · 151 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. Sysco Corporation (SYY): ₹161 Cr
2. US Foods Holding Corp. (USFD): ₹98 Cr
3. Performance Food Group Company (PFGC): ₹74 Cr
4. The Andersons, Inc. (ANDE): ₹52 Cr
5. United Natural Foods, Inc. (UNFI): ₹44 Cr

### CAPEX intensity — highest reinvestment intensity
1. G. Willi-Food International Ltd. (WILC): 7.0%
2. Mission Produce, Inc. (AVO): 3.8%
3. The Andersons, Inc. (ANDE): 2.0%
4. US Foods Holding Corp. (USFD): 1.0%
5. The Chefs' Warehouse, Inc. (CHEF): 0.8%

### 20-quarter CAPEX history
- SYY: Sep 2021 ₹220 Cr | Dec 2021 ₹85 Cr | Mar 2022 ₹96 Cr | Jun 2022 ₹146 Cr | Sep 2022 ₹305 Cr | Dec 2022 ₹167 Cr | Mar 2023 — | Jun 2023 ₹165 Cr | Sep 2023 ₹319 Cr | Dec 2023 ₹176 Cr | Mar 2024 ₹183 Cr | Jun 2024 ₹302 Cr | Sep 2024 ₹122 Cr | Dec 2024 ₹211 Cr | Mar 2025 ₹199 Cr | Jun 2025 ₹374 Cr | Sep 2025 ₹160 Cr | Dec 2025 ₹140 Cr | Mar 2026 ₹161 Cr | Jun 2026 —
- USFD: Sep 2021 ₹61 Cr | Dec 2021 ₹66 Cr | Mar 2022 ₹101 Cr | Jun 2022 ₹72 Cr | Sep 2022 ₹71 Cr | Dec 2022 ₹58 Cr | Mar 2023 — | Jun 2023 ₹61 Cr | Sep 2023 ₹47 Cr | Dec 2023 ₹142 Cr | Mar 2024 ₹87 Cr | Jun 2024 ₹69 Cr | Sep 2024 ₹80 Cr | Dec 2024 ₹105 Cr | Mar 2025 ₹84 Cr | Jun 2025 ₹77 Cr | Sep 2025 ₹115 Cr | Dec 2025 ₹134 Cr | Mar 2026 ₹98 Cr | Jun 2026 —
- PFGC: Sep 2021 ₹70 Cr | Dec 2021 ₹24 Cr | Mar 2022 ₹44 Cr | Jun 2022 ₹72 Cr | Sep 2022 ₹75 Cr | Dec 2022 ₹40 Cr | Mar 2023 — | Jun 2023 ₹79 Cr | Sep 2023 ₹93 Cr | Dec 2023 ₹94 Cr | Mar 2024 ₹97 Cr | Jun 2024 ₹151 Cr | Sep 2024 ₹97 Cr | Dec 2024 ₹107 Cr | Mar 2025 ₹129 Cr | Jun 2025 ₹173 Cr | Sep 2025 ₹79 Cr | Dec 2025 ₹113 Cr | Mar 2026 ₹74 Cr | Jun 2026 —
- CHEF: Sep 2021 ₹8 Cr | Dec 2021 ₹21 Cr | Mar 2022 ₹14 Cr | Jun 2022 ₹9 Cr | Sep 2022 ₹8 Cr | Dec 2022 ₹14 Cr | Mar 2023 ₹9 Cr | Jun 2023 ₹14 Cr | Sep 2023 ₹12 Cr | Dec 2023 ₹22 Cr | Mar 2024 ₹17 Cr | Jun 2024 ₹16 Cr | Sep 2024 ₹8 Cr | Dec 2024 ₹8 Cr | Mar 2025 ₹12 Cr | Jun 2025 ₹10 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹8 Cr | Mar 2026 ₹8 Cr | Jun 2026 —
- UNFI: Sep 2021 ₹145 Cr | Dec 2021 ₹56 Cr | Mar 2022 ₹50 Cr | Jun 2022 ₹52 Cr | Sep 2022 ₹93 Cr | Dec 2022 ₹67 Cr | Mar 2023 ₹84 Cr | Jun 2023 ₹67 Cr | Sep 2023 ₹105 Cr | Dec 2023 ₹74 Cr | Mar 2024 ₹67 Cr | Jun 2024 ₹76 Cr | Sep 2024 ₹128 Cr | Dec 2024 ₹49 Cr | Mar 2025 ₹54 Cr | Jun 2025 ₹54 Cr | Sep 2025 ₹74 Cr | Dec 2025 ₹16 Cr | Mar 2026 ₹40 Cr | Jun 2026 ₹44 Cr
- ANDE: Sep 2021 ₹20 Cr | Dec 2021 ₹23 Cr | Mar 2022 ₹24 Cr | Jun 2022 ₹47 Cr | Sep 2022 ₹29 Cr | Dec 2022 ₹40 Cr | Mar 2023 ₹25 Cr | Jun 2023 ₹50 Cr | Sep 2023 ₹34 Cr | Dec 2023 ₹42 Cr | Mar 2024 ₹27 Cr | Jun 2024 ₹29 Cr | Sep 2024 ₹38 Cr | Dec 2024 ₹56 Cr | Mar 2025 ₹47 Cr | Jun 2025 ₹49 Cr | Sep 2025 ₹67 Cr | Dec 2025 ₹71 Cr | Mar 2026 ₹52 Cr | Jun 2026 —
- AVO: Sep 2021 ₹15 Cr | Dec 2021 ₹12 Cr | Mar 2022 ₹21 Cr | Jun 2022 ₹8 Cr | Sep 2022 ₹13 Cr | Dec 2022 ₹19 Cr | Mar 2023 ₹18 Cr | Jun 2023 ₹17 Cr | Sep 2023 ₹12 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹10 Cr | Jun 2024 ₹8 Cr | Sep 2024 ₹8 Cr | Dec 2024 ₹7 Cr | Mar 2025 ₹15 Cr | Jun 2025 ₹13 Cr | Sep 2025 ₹12 Cr | Dec 2025 ₹12 Cr | Mar 2026 ₹12 Cr | Jun 2026 ₹11 Cr
- WILC: Sep 2021 ₹1 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹1 Cr | Sep 2022 ₹1 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹7 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹7 Cr | Mar 2024 ₹7 Cr | Jun 2024 ₹15 Cr | Sep 2024 ₹12 Cr | Dec 2024 ₹15 Cr | Mar 2025 ₹11 Cr | Jun 2025 ₹9 Cr | Sep 2025 ₹9 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹11 Cr | Jun 2026 —

### 20-quarter CAPEX intensity history
- SYY: Sep 2021 1.4% | Dec 2021 0.5% | Mar 2022 0.6% | Jun 2022 0.9% | Sep 2022 1.6% | Dec 2022 0.9% | Mar 2023 — | Jun 2023 0.9% | Sep 2023 1.6% | Dec 2023 0.9% | Mar 2024 0.9% | Jun 2024 1.5% | Sep 2024 0.6% | Dec 2024 1.0% | Mar 2025 1.0% | Jun 2025 1.8% | Sep 2025 0.8% | Dec 2025 0.7% | Mar 2026 0.8% | Jun 2026 —
- USFD: Sep 2021 0.8% | Dec 2021 0.8% | Mar 2022 1.3% | Jun 2022 0.9% | Sep 2022 0.8% | Dec 2022 0.7% | Mar 2023 — | Jun 2023 0.7% | Sep 2023 0.5% | Dec 2023 1.6% | Mar 2024 1.0% | Jun 2024 0.7% | Sep 2024 0.8% | Dec 2024 1.1% | Mar 2025 0.9% | Jun 2025 0.8% | Sep 2025 1.1% | Dec 2025 1.4% | Mar 2026 1.0% | Jun 2026 —
- PFGC: Sep 2021 0.8% | Dec 2021 0.2% | Mar 2022 0.3% | Jun 2022 0.6% | Sep 2022 0.5% | Dec 2022 0.3% | Mar 2023 — | Jun 2023 0.6% | Sep 2023 0.6% | Dec 2023 0.7% | Mar 2024 0.7% | Jun 2024 1.0% | Sep 2024 0.6% | Dec 2024 0.7% | Mar 2025 0.8% | Jun 2025 1.0% | Sep 2025 0.5% | Dec 2025 0.7% | Mar 2026 0.5% | Jun 2026 —
- CHEF: Sep 2021 1.7% | Dec 2021 3.8% | Mar 2022 2.7% | Jun 2022 1.4% | Sep 2022 1.2% | Dec 2022 1.8% | Mar 2023 1.3% | Jun 2023 1.6% | Sep 2023 1.4% | Dec 2023 2.3% | Mar 2024 1.9% | Jun 2024 1.7% | Sep 2024 0.9% | Dec 2024 0.8% | Mar 2025 1.3% | Jun 2025 1.0% | Sep 2025 1.1% | Dec 2025 0.7% | Mar 2026 0.8% | Jun 2026 —
- UNFI: Sep 2021 2.2% | Dec 2021 0.8% | Mar 2022 0.7% | Jun 2022 0.7% | Sep 2022 1.3% | Dec 2022 0.9% | Mar 2023 1.1% | Jun 2023 0.9% | Sep 2023 1.4% | Dec 2023 1.0% | Mar 2024 0.9% | Jun 2024 1.0% | Sep 2024 1.6% | Dec 2024 0.6% | Mar 2025 0.7% | Jun 2025 0.7% | Sep 2025 1.0% | Dec 2025 0.2% | Mar 2026 0.5% | Jun 2026 0.6%
- ANDE: Sep 2021 0.7% | Dec 2021 0.6% | Mar 2022 0.6% | Jun 2022 1.1% | Sep 2022 0.7% | Dec 2022 0.9% | Mar 2023 0.6% | Jun 2023 1.2% | Sep 2023 0.9% | Dec 2023 1.3% | Mar 2024 1.0% | Jun 2024 1.0% | Sep 2024 1.4% | Dec 2024 1.8% | Mar 2025 1.8% | Jun 2025 1.6% | Sep 2025 2.5% | Dec 2025 2.8% | Mar 2026 2.0% | Jun 2026 —
- AVO: Sep 2021 6.1% | Dec 2021 5.1% | Mar 2022 9.7% | Jun 2022 2.9% | Sep 2022 4.2% | Dec 2022 8.0% | Mar 2023 8.4% | Jun 2023 7.7% | Sep 2023 4.6% | Dec 2023 1.2% | Mar 2024 3.9% | Jun 2024 2.7% | Sep 2024 2.5% | Dec 2024 2.0% | Mar 2025 4.5% | Jun 2025 3.4% | Sep 2025 3.4% | Dec 2025 3.8% | Mar 2026 4.3% | Jun 2026 3.8%
- WILC: Sep 2021 0.9% | Dec 2021 0.9% | Mar 2022 1.7% | Jun 2022 0.8% | Sep 2022 0.8% | Dec 2022 6.8% | Mar 2023 4.6% | Jun 2023 1.6% | Sep 2023 6.5% | Dec 2023 5.0% | Mar 2024 5.1% | Jun 2024 10% | Sep 2024 7.8% | Dec 2024 11% | Mar 2025 7.6% | Jun 2025 5.6% | Sep 2025 5.9% | Dec 2025 3.3% | Mar 2026 7.0% | Jun 2026 —

## Debt Load & Balance-Sheet Headroom

What the numbers say: G. Willi-Food International Ltd. has the clearest covered balance-sheet capacity with $266 million net cash and gross debt of $8 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: G. Willi-Food International Ltd. · $8 million | 96.3% versus #2 · Mission Produce, Inc. | 8/8 recent comparable periods | 8/8 companies · 151 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. G. Willi-Food International Ltd. (WILC): ₹8 Cr
2. Mission Produce, Inc. (AVO): ₹218 Cr
3. The Chefs' Warehouse, Inc. (CHEF): ₹978 Cr
4. The Andersons, Inc. (ANDE): ₹1.3K Cr
5. United Natural Foods, Inc. (UNFI): ₹3.2K Cr

### Net debt — lowest net debt
1. G. Willi-Food International Ltd. (WILC): ₹-266 Cr
2. Mission Produce, Inc. (AVO): ₹185 Cr
3. The Chefs' Warehouse, Inc. (CHEF): ₹855 Cr
4. The Andersons, Inc. (ANDE): ₹1.1K Cr
5. United Natural Foods, Inc. (UNFI): ₹3.1K Cr

### 20-quarter Gross debt history
- SYY: Sep 2021 ₹11.8K Cr | Dec 2021 ₹11.9K Cr | Mar 2022 ₹11.8K Cr | Jun 2022 ₹11.9K Cr | Sep 2022 ₹11.4K Cr | Dec 2022 ₹11.5K Cr | Mar 2023 — | Jun 2023 ₹11.7K Cr | Sep 2023 ₹11.2K Cr | Dec 2023 ₹13.0K Cr | Mar 2024 ₹13.1K Cr | Jun 2024 ₹12.9K Cr | Sep 2024 ₹13.4K Cr | Dec 2024 ₹13.7K Cr | Mar 2025 ₹14.6K Cr | Jun 2025 ₹14.5K Cr | Sep 2025 ₹14.6K Cr | Dec 2025 ₹15.0K Cr | Mar 2026 ₹15.4K Cr | Jun 2026 —
- USFD: Sep 2021 ₹5.7K Cr | Dec 2021 ₹5.6K Cr | Mar 2022 ₹5.2K Cr | Jun 2022 ₹5.2K Cr | Sep 2022 ₹5.2K Cr | Dec 2022 ₹5.2K Cr | Mar 2023 — | Jun 2023 ₹5.0K Cr | Sep 2023 ₹4.9K Cr | Dec 2023 ₹4.9K Cr | Mar 2024 ₹4.9K Cr | Jun 2024 ₹4.9K Cr | Sep 2024 ₹5.0K Cr | Dec 2024 ₹5.1K Cr | Mar 2025 ₹5.0K Cr | Jun 2025 ₹5.0K Cr | Sep 2025 ₹5.1K Cr | Dec 2025 ₹5.4K Cr | Mar 2026 ₹5.3K Cr | Jun 2026 —
- PFGC: Sep 2021 ₹3.0K Cr | Dec 2021 ₹4.8K Cr | Mar 2022 ₹5.0K Cr | Jun 2022 ₹4.8K Cr | Sep 2022 ₹5.0K Cr | Dec 2022 ₹4.8K Cr | Mar 2023 — | Jun 2023 ₹4.7K Cr | Sep 2023 ₹4.7K Cr | Dec 2023 ₹5.0K Cr | Mar 2024 ₹4.8K Cr | Jun 2024 ₹5.0K Cr | Sep 2024 ₹5.8K Cr | Dec 2024 ₹7.9K Cr | Mar 2025 ₹7.7K Cr | Jun 2025 ₹8.0K Cr | Sep 2025 ₹8.3K Cr | Dec 2025 ₹8.0K Cr | Mar 2026 ₹7.9K Cr | Jun 2026 —
- CHEF: Sep 2021 ₹527 Cr | Dec 2021 ₹542 Cr | Mar 2022 ₹560 Cr | Jun 2022 ₹550 Cr | Sep 2022 ₹648 Cr | Dec 2022 ₹837 Cr | Mar 2023 ₹861 Cr | Jun 2023 ₹919 Cr | Sep 2023 ₹895 Cr | Dec 2023 ₹926 Cr | Mar 2024 ₹925 Cr | Jun 2024 ₹914 Cr | Sep 2024 ₹929 Cr | Dec 2024 ₹916 Cr | Mar 2025 ₹912 Cr | Jun 2025 ₹930 Cr | Sep 2025 ₹954 Cr | Dec 2025 ₹975 Cr | Mar 2026 ₹978 Cr | Jun 2026 —
- UNFI: Sep 2021 ₹3.4K Cr | Dec 2021 ₹3.7K Cr | Mar 2022 ₹3.6K Cr | Jun 2022 ₹3.7K Cr | Sep 2022 ₹3.4K Cr | Dec 2022 ₹3.8K Cr | Mar 2023 ₹3.4K Cr | Jun 2023 ₹3.3K Cr | Sep 2023 ₹3.3K Cr | Dec 2023 ₹3.6K Cr | Mar 2024 ₹3.7K Cr | Jun 2024 ₹3.6K Cr | Sep 2024 ₹3.5K Cr | Dec 2024 ₹3.8K Cr | Mar 2025 ₹3.7K Cr | Jun 2025 ₹3.6K Cr | Sep 2025 ₹3.5K Cr | Dec 2025 ₹3.5K Cr | Mar 2026 ₹3.2K Cr | Jun 2026 ₹3.2K Cr
- ANDE: Sep 2021 ₹962 Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹2.1K Cr | Jun 2022 ₹1.8K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹912 Cr | Mar 2023 ₹1.2K Cr | Jun 2023 ₹707 Cr | Sep 2023 ₹611 Cr | Dec 2023 ₹665 Cr | Mar 2024 ₹594 Cr | Jun 2024 ₹581 Cr | Sep 2024 ₹585 Cr | Dec 2024 ₹876 Cr | Mar 2025 ₹873 Cr | Jun 2025 ₹747 Cr | Sep 2025 ₹774 Cr | Dec 2025 ₹944 Cr | Mar 2026 ₹1.3K Cr | Jun 2026 —
- AVO: Sep 2021 ₹172 Cr | Dec 2021 ₹213 Cr | Mar 2022 ₹210 Cr | Jun 2022 ₹214 Cr | Sep 2022 ₹230 Cr | Dec 2022 ₹215 Cr | Mar 2023 ₹244 Cr | Jun 2023 ₹273 Cr | Sep 2023 ₹270 Cr | Dec 2023 ₹253 Cr | Mar 2024 ₹257 Cr | Jun 2024 ₹262 Cr | Sep 2024 ₹238 Cr | Dec 2024 ₹217 Cr | Mar 2025 ₹216 Cr | Jun 2025 ₹247 Cr | Sep 2025 ₹235 Cr | Dec 2025 ₹201 Cr | Mar 2026 ₹200 Cr | Jun 2026 ₹218 Cr
- WILC: Sep 2021 ₹5 Cr | Dec 2021 ₹4 Cr | Mar 2022 ₹4 Cr | Jun 2022 ₹4 Cr | Sep 2022 ₹4 Cr | Dec 2022 ₹3 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹3 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹5 Cr | Mar 2025 ₹5 Cr | Jun 2025 ₹4 Cr | Sep 2025 ₹5 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹8 Cr | Jun 2026 —

### 20-quarter Net debt history
- SYY: Sep 2021 ₹8.8K Cr | Dec 2021 ₹9.9K Cr | Mar 2022 ₹10.5K Cr | Jun 2022 ₹11.1K Cr | Sep 2022 ₹10.5K Cr | Dec 2022 ₹11.1K Cr | Mar 2023 — | Jun 2023 ₹11.0K Cr | Sep 2023 ₹10.4K Cr | Dec 2023 ₹12.0K Cr | Mar 2024 ₹12.5K Cr | Jun 2024 ₹12.2K Cr | Sep 2024 ₹12.7K Cr | Dec 2024 ₹12.9K Cr | Mar 2025 ₹13.1K Cr | Jun 2025 ₹13.4K Cr | Sep 2025 ₹13.7K Cr | Dec 2025 ₹13.7K Cr | Mar 2026 ₹13.5K Cr | Jun 2026 —
- USFD: Sep 2021 ₹5.0K Cr | Dec 2021 ₹4.8K Cr | Mar 2022 ₹5.0K Cr | Jun 2022 ₹5.0K Cr | Sep 2022 ₹5.0K Cr | Dec 2022 ₹4.8K Cr | Mar 2023 — | Jun 2023 ₹4.7K Cr | Sep 2023 ₹4.6K Cr | Dec 2023 ₹4.6K Cr | Mar 2024 ₹4.6K Cr | Jun 2024 ₹4.5K Cr | Sep 2024 ₹4.9K Cr | Dec 2024 ₹5.1K Cr | Mar 2025 ₹4.9K Cr | Jun 2025 ₹5.0K Cr | Sep 2025 ₹5.1K Cr | Dec 2025 ₹5.3K Cr | Mar 2026 ₹5.3K Cr | Jun 2026 —
- PFGC: Sep 2021 ₹3.0K Cr | Dec 2021 ₹4.7K Cr | Mar 2022 ₹4.9K Cr | Jun 2022 ₹4.8K Cr | Sep 2022 ₹5.0K Cr | Dec 2022 ₹4.7K Cr | Mar 2023 — | Jun 2023 ₹4.7K Cr | Sep 2023 ₹4.7K Cr | Dec 2023 ₹5.0K Cr | Mar 2024 ₹4.8K Cr | Jun 2024 ₹5.0K Cr | Sep 2024 ₹5.7K Cr | Dec 2024 ₹7.9K Cr | Mar 2025 ₹7.7K Cr | Jun 2025 ₹7.9K Cr | Sep 2025 ₹8.3K Cr | Dec 2025 ₹7.9K Cr | Mar 2026 ₹7.8K Cr | Jun 2026 —
- CHEF: Sep 2021 ₹393 Cr | Dec 2021 ₹427 Cr | Mar 2022 ₹481 Cr | Jun 2022 ₹498 Cr | Sep 2022 ₹503 Cr | Dec 2022 ₹678 Cr | Mar 2023 ₹769 Cr | Jun 2023 ₹859 Cr | Sep 2023 ₹862 Cr | Dec 2023 ₹876 Cr | Mar 2024 ₹883 Cr | Jun 2024 ₹876 Cr | Sep 2024 ₹878 Cr | Dec 2024 ₹801 Cr | Mar 2025 ₹795 Cr | Jun 2025 ₹833 Cr | Sep 2025 ₹889 Cr | Dec 2025 ₹854 Cr | Mar 2026 ₹855 Cr | Jun 2026 —
- UNFI: Sep 2021 ₹3.4K Cr | Dec 2021 ₹3.6K Cr | Mar 2022 ₹3.5K Cr | Jun 2022 ₹3.6K Cr | Sep 2022 ₹3.3K Cr | Dec 2022 ₹3.7K Cr | Mar 2023 ₹3.3K Cr | Jun 2023 ₹3.3K Cr | Sep 2023 ₹3.2K Cr | Dec 2023 ₹3.6K Cr | Mar 2024 ₹3.6K Cr | Jun 2024 ₹3.6K Cr | Sep 2024 ₹3.5K Cr | Dec 2024 ₹3.8K Cr | Mar 2025 ₹3.7K Cr | Jun 2025 ₹3.5K Cr | Sep 2025 ₹3.4K Cr | Dec 2025 ₹3.4K Cr | Mar 2026 ₹3.2K Cr | Jun 2026 ₹3.1K Cr
- ANDE: Sep 2021 ₹335 Cr | Dec 2021 ₹539 Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹655 Cr | Dec 2022 ₹501 Cr | Mar 2023 ₹953 Cr | Jun 2023 ₹263 Cr | Sep 2023 ₹-47 Cr | Dec 2023 ₹-157 Cr | Mar 2024 ₹131 Cr | Jun 2024 ₹-130 Cr | Sep 2024 ₹9 Cr | Dec 2024 ₹165 Cr | Mar 2025 ₹499 Cr | Jun 2025 ₹248 Cr | Sep 2025 ₹538 Cr | Dec 2025 ₹710 Cr | Mar 2026 ₹1.1K Cr | Jun 2026 —
- AVO: Sep 2021 ₹101 Cr | Dec 2021 ₹128 Cr | Mar 2022 ₹185 Cr | Jun 2022 ₹193 Cr | Sep 2022 ₹186 Cr | Dec 2022 ₹162 Cr | Mar 2023 ₹205 Cr | Jun 2023 ₹252 Cr | Sep 2023 ₹247 Cr | Dec 2023 ₹210 Cr | Mar 2024 ₹217 Cr | Jun 2024 ₹216 Cr | Sep 2024 ₹188 Cr | Dec 2024 ₹159 Cr | Mar 2025 ₹176 Cr | Jun 2025 ₹210 Cr | Sep 2025 ₹191 Cr | Dec 2025 ₹136 Cr | Mar 2026 ₹155 Cr | Jun 2026 ₹185 Cr
- WILC: Sep 2021 ₹-364 Cr | Dec 2021 ₹-346 Cr | Mar 2022 ₹-342 Cr | Jun 2022 ₹-302 Cr | Sep 2022 ₹-289 Cr | Dec 2022 ₹-264 Cr | Mar 2023 ₹-234 Cr | Jun 2023 ₹-208 Cr | Sep 2023 ₹-218 Cr | Dec 2023 ₹-238 Cr | Mar 2024 ₹-241 Cr | Jun 2024 ₹-197 Cr | Sep 2024 ₹-221 Cr | Dec 2024 ₹-241 Cr | Mar 2025 ₹-229 Cr | Jun 2025 ₹-210 Cr | Sep 2025 ₹-220 Cr | Dec 2025 ₹-244 Cr | Mar 2026 ₹-266 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: Sysco Corporation leads ROCE at 3.6%, 0.5 percentage points above G. Willi-Food International Ltd.. United Natural Foods, Inc. has the strongest latest improvement at +1 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Sysco Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Sysco Corporation · 3.6% | 16.1% versus #2 · G. Willi-Food International Ltd. | 1/8 recent comparable periods | 8/8 companies · 146 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Sysco Corporation (SYY): 3.6%
2. G. Willi-Food International Ltd. (WILC): 3.1%
3. The Chefs' Warehouse, Inc. (CHEF): 2.2%
4. US Foods Holding Corp. (USFD): 2.1%
5. United Natural Foods, Inc. (UNFI): 1.3%

### ROCE change — fastest improvers
1. United Natural Foods, Inc. (UNFI): +1.0 pp
2. The Chefs' Warehouse, Inc. (CHEF): +0.5 pp
3. The Andersons, Inc. (ANDE): +0.4 pp
4. US Foods Holding Corp. (USFD): −0.1 pp
5. G. Willi-Food International Ltd. (WILC): −0.3 pp

### 20-quarter ROCE history
- SYY: Sep 2021 — | Dec 2021 4.2% | Mar 2022 3.0% | Jun 2022 3.4% | Sep 2022 5.6% | Dec 2022 5.3% | Mar 2023 — | Jun 2023 5.0% | Sep 2023 7.0% | Dec 2023 4.6% | Mar 2024 4.8% | Jun 2024 6.5% | Sep 2024 5.2% | Dec 2024 4.4% | Mar 2025 4.1% | Jun 2025 5.5% | Sep 2025 4.9% | Dec 2025 4.1% | Mar 2026 3.6% | Jun 2026 —
- USFD: Sep 2021 — | Dec 2021 1.3% | Mar 2022 1.3% | Jun 2022 0.3% | Sep 2022 1.5% | Dec 2022 2.1% | Mar 2023 — | Jun 2023 1.9% | Sep 2023 3.2% | Dec 2023 2.8% | Mar 2024 1.6% | Jun 2024 3.5% | Sep 2024 2.8% | Dec 2024 3.0% | Mar 2025 2.2% | Jun 2025 3.6% | Sep 2025 2.8% | Dec 2025 3.1% | Mar 2026 2.1% | Jun 2026 —
- PFGC: Sep 2021 — | Dec 2021 0.7% | Mar 2022 0.8% | Jun 2022 1.0% | Sep 2022 2.2% | Dec 2022 2.3% | Mar 2023 — | Jun 2023 2.0% | Sep 2023 3.0% | Dec 2023 1.9% | Mar 2024 1.7% | Jun 2024 3.0% | Sep 2024 2.2% | Dec 2024 1.4% | Mar 2025 1.6% | Jun 2025 2.3% | Sep 2025 1.8% | Dec 2025 1.4% | Mar 2026 1.1% | Jun 2026 —
- CHEF: Sep 2021 1.2% | Dec 2021 1.8% | Mar 2022 0.7% | Jun 2022 3.2% | Sep 2022 2.4% | Dec 2022 2.8% | Mar 2023 1.1% | Jun 2023 2.3% | Sep 2023 2.2% | Dec 2023 3.0% | Mar 2024 1.3% | Jun 2024 2.6% | Sep 2024 2.4% | Dec 2024 3.4% | Mar 2025 1.7% | Jun 2025 2.9% | Sep 2025 2.7% | Dec 2025 2.9% | Mar 2026 2.2% | Jun 2026 —
- UNFI: Sep 2021 — | Dec 2021 2.0% | Mar 2022 2.4% | Jun 2022 2.3% | Sep 2022 1.3% | Dec 2022 1.8% | Mar 2023 1.2% | Jun 2023 0.6% | Sep 2023 -1.5% | Dec 2023 -0.3% | Mar 2024 0.3% | Jun 2024 0.1% | Sep 2024 0.0% | Dec 2024 0.1% | Mar 2025 0.5% | Jun 2025 0.3% | Sep 2025 -1.5% | Dec 2025 0.4% | Mar 2026 1.1% | Jun 2026 1.3%
- ANDE: Sep 2021 0.5% | Dec 2021 3.8% | Mar 2022 0.8% | Jun 2022 5.2% | Sep 2022 2.4% | Dec 2022 1.6% | Mar 2023 -2.8% | Jun 2023 4.9% | Sep 2023 1.5% | Dec 2023 3.9% | Mar 2024 0.4% | Jun 2024 2.7% | Sep 2024 2.6% | Dec 2024 2.9% | Mar 2025 0.3% | Jun 2025 1.0% | Sep 2025 -0.1% | Dec 2025 4.5% | Mar 2026 0.7% | Jun 2026 —
- AVO: Sep 2021 — | Dec 2021 2.5% | Mar 2022 -2.5% | Jun 2022 0.1% | Sep 2022 2.8% | Dec 2022 -5.4% | Mar 2023 -1.3% | Jun 2023 -0.2% | Sep 2023 1.3% | Dec 2023 0.9% | Mar 2024 1.0% | Jun 2024 1.5% | Sep 2024 2.0% | Dec 2024 3.5% | Mar 2025 1.1% | Jun 2025 0.8% | Sep 2025 2.5% | Dec 2025 3.4% | Mar 2026 0.3% | Jun 2026 -0.8%
- WILC: Sep 2021 1.4% | Dec 2021 2.1% | Mar 2022 1.6% | Jun 2022 2.4% | Sep 2022 1.7% | Dec 2022 2.0% | Mar 2023 2.3% | Jun 2023 0.2% | Sep 2023 0.1% | Dec 2023 1.0% | Mar 2024 2.1% | Jun 2024 3.8% | Sep 2024 3.1% | Dec 2024 2.7% | Mar 2025 3.4% | Jun 2025 3.4% | Sep 2025 2.9% | Dec 2025 2.4% | Mar 2026 3.1% | Jun 2026 —

### 20-quarter ROCE change history
- SYY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.1 pp | Mar 2023 — | Jun 2023 +1.6 pp | Sep 2023 +1.4 pp | Dec 2023 −0.7 pp | Mar 2024 — | Jun 2024 +1.5 pp | Sep 2024 −1.8 pp | Dec 2024 −0.2 pp | Mar 2025 −0.7 pp | Jun 2025 −1.0 pp | Sep 2025 −0.3 pp | Dec 2025 −0.3 pp | Mar 2026 −0.5 pp | Jun 2026 —
- USFD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +0.8 pp | Mar 2023 — | Jun 2023 +1.6 pp | Sep 2023 +1.7 pp | Dec 2023 +0.7 pp | Mar 2024 — | Jun 2024 +1.6 pp | Sep 2024 −0.4 pp | Dec 2024 +0.2 pp | Mar 2025 +0.6 pp | Jun 2025 +0.1 pp | Sep 2025 0.0 pp | Dec 2025 +0.1 pp | Mar 2026 −0.1 pp | Jun 2026 —
- PFGC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.6 pp | Mar 2023 — | Jun 2023 +1.0 pp | Sep 2023 +0.8 pp | Dec 2023 −0.4 pp | Mar 2024 — | Jun 2024 +1.0 pp | Sep 2024 −0.8 pp | Dec 2024 −0.5 pp | Mar 2025 −0.1 pp | Jun 2025 −0.7 pp | Sep 2025 −0.4 pp | Dec 2025 0.0 pp | Mar 2026 −0.5 pp | Jun 2026 —
- CHEF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.2 pp | Dec 2022 +1.0 pp | Mar 2023 +0.4 pp | Jun 2023 −0.9 pp | Sep 2023 −0.2 pp | Dec 2023 +0.2 pp | Mar 2024 +0.2 pp | Jun 2024 +0.3 pp | Sep 2024 +0.2 pp | Dec 2024 +0.4 pp | Mar 2025 +0.4 pp | Jun 2025 +0.3 pp | Sep 2025 +0.3 pp | Dec 2025 −0.5 pp | Mar 2026 +0.5 pp | Jun 2026 —
- UNFI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.2 pp | Mar 2023 −1.2 pp | Jun 2023 −1.7 pp | Sep 2023 −2.8 pp | Dec 2023 −2.1 pp | Mar 2024 −0.9 pp | Jun 2024 −0.5 pp | Sep 2024 +1.5 pp | Dec 2024 +0.4 pp | Mar 2025 +0.2 pp | Jun 2025 +0.2 pp | Sep 2025 −1.5 pp | Dec 2025 +0.3 pp | Mar 2026 +0.6 pp | Jun 2026 +1.0 pp
- ANDE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.9 pp | Dec 2022 −2.2 pp | Mar 2023 −3.6 pp | Jun 2023 −0.3 pp | Sep 2023 −0.9 pp | Dec 2023 +2.3 pp | Mar 2024 +3.2 pp | Jun 2024 −2.2 pp | Sep 2024 +1.1 pp | Dec 2024 −1.0 pp | Mar 2025 −0.1 pp | Jun 2025 −1.7 pp | Sep 2025 −2.7 pp | Dec 2025 +1.6 pp | Mar 2026 +0.4 pp | Jun 2026 —
- AVO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −7.9 pp | Mar 2023 +1.2 pp | Jun 2023 −0.3 pp | Sep 2023 −1.5 pp | Dec 2023 +6.3 pp | Mar 2024 +2.3 pp | Jun 2024 +1.7 pp | Sep 2024 +0.7 pp | Dec 2024 +2.6 pp | Mar 2025 +0.1 pp | Jun 2025 −0.7 pp | Sep 2025 +0.5 pp | Dec 2025 −0.1 pp | Mar 2026 −0.8 pp | Jun 2026 −1.6 pp
- WILC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.3 pp | Dec 2022 −0.1 pp | Mar 2023 +0.7 pp | Jun 2023 −2.2 pp | Sep 2023 −1.6 pp | Dec 2023 −1.0 pp | Mar 2024 −0.2 pp | Jun 2024 +3.6 pp | Sep 2024 +3.0 pp | Dec 2024 +1.7 pp | Mar 2025 +1.3 pp | Jun 2025 −0.4 pp | Sep 2025 −0.2 pp | Dec 2025 −0.3 pp | Mar 2026 −0.3 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: G. Willi-Food International Ltd. has the lowest comparable Guarded PEG at 0.48×, 42.9% below US Foods Holding Corp.. Only 4 of 8 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: G. Willi-Food International Ltd. · 0.48× | 42.9% versus #2 · US Foods Holding Corp. | 0/8 recent comparable periods | 4/8 companies · 16 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. G. Willi-Food International Ltd. (WILC): 0.5
2. US Foods Holding Corp. (USFD): 0.8
3. The Andersons, Inc. (ANDE): 1.0
4. The Chefs' Warehouse, Inc. (CHEF): 1.5

### P/E — lowest P/E
1. G. Willi-Food International Ltd. (WILC): 12.3
2. The Andersons, Inc. (ANDE): 19.1
3. Sysco Corporation (SYY): 22.7
4. US Foods Holding Corp. (USFD): 30.6
5. The Chefs' Warehouse, Inc. (CHEF): 32.5

### 20-quarter Guarded PEG history
- USFD: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 2.8 | Jun 2025 — | Sep 2025 — | Dec 2025 0.6 | Mar 2026 0.8 | Jun 2026 —
- CHEF: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 1.5 | Mar 2024 1.8 | Jun 2024 — | Sep 2024 — | Dec 2024 0.7 | Mar 2025 — | Jun 2025 — | Sep 2025 0.7 | Dec 2025 1.3 | Mar 2026 1.5 | Jun 2026 —
- ANDE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 1.4 | Sep 2024 — | Dec 2024 0.9 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 1.0 | Jun 2026 —
- WILC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.6 | Sep 2023 1.4 | Dec 2023 — | Mar 2024 — | Jun 2024 1.1 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 0.5 | Jun 2026 —

### 20-quarter P/E history
- SYY: Sep 2021 — | Dec 2021 61.2 | Mar 2022 51.7 | Jun 2022 42.5 | Sep 2022 32.7 | Dec 2022 25.1 | Mar 2023 — | Jun 2023 25.6 | Sep 2023 21.4 | Dec 2023 18.8 | Mar 2024 20.8 | Jun 2024 18.4 | Sep 2024 20.0 | Dec 2024 19.8 | Mar 2025 19.2 | Jun 2025 20.1 | Sep 2025 22.0 | Dec 2025 20.0 | Mar 2026 22.7 | Jun 2026 —
- USFD: Sep 2021 — | Dec 2021 241.6 | Mar 2022 64.5 | Jun 2022 59.6 | Sep 2022 44.7 | Dec 2022 29.7 | Mar 2023 — | Jun 2023 26.6 | Sep 2023 23.8 | Dec 2023 22.5 | Mar 2024 26.6 | Jun 2024 25.2 | Sep 2024 25.8 | Dec 2024 33.8 | Mar 2025 29.6 | Jun 2025 33.0 | Sep 2025 31.9 | Dec 2025 26.0 | Mar 2026 30.6 | Jun 2026 —
- PFGC: Sep 2021 — | Dec 2021 148.0 | Mar 2022 183.6 | Jun 2022 110.7 | Sep 2022 63.1 | Dec 2022 32.8 | Mar 2023 — | Jun 2023 29.0 | Sep 2023 23.7 | Dec 2023 25.2 | Mar 2024 27.8 | Jun 2024 23.7 | Sep 2024 28.9 | Dec 2024 34.3 | Mar 2025 32.2 | Jun 2025 40.1 | Sep 2025 50.1 | Dec 2025 41.7 | Mar 2026 39.5 | Jun 2026 —
- CHEF: Sep 2021 — | Dec 2021 — | Mar 2022 86.3 | Jun 2022 50.5 | Sep 2022 34.0 | Dec 2022 45.6 | Mar 2023 48.6 | Jun 2023 67.5 | Sep 2023 41.5 | Dec 2023 33.4 | Mar 2024 43.3 | Jun 2024 39.5 | Sep 2024 36.7 | Dec 2024 36.9 | Mar 2025 35.4 | Jun 2025 39.0 | Sep 2025 33.8 | Dec 2025 37.8 | Mar 2026 32.5 | Jun 2026 —
- UNFI: Sep 2021 — | Dec 2021 11.6 | Mar 2022 9.9 | Jun 2022 10.4 | Sep 2022 10.4 | Dec 2022 11.0 | Mar 2023 13.1 | Jun 2023 12.8 | Sep 2023 51.8 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ANDE: Sep 2021 11.3 | Dec 2021 12.6 | Mar 2022 17.4 | Jun 2022 8.4 | Sep 2022 6.9 | Dec 2022 10.1 | Mar 2023 12.2 | Jun 2023 17.3 | Sep 2023 27.3 | Dec 2023 19.6 | Mar 2024 16.2 | Jun 2024 16.6 | Sep 2024 14.3 | Dec 2024 12.2 | Mar 2025 13.5 | Jun 2025 15.6 | Sep 2025 18.6 | Dec 2025 19.1 | Mar 2026 19.1 | Jun 2026 —
- AVO: Sep 2021 — | Dec 2021 30.1 | Mar 2022 34.8 | Jun 2022 37.4 | Sep 2022 41.7 | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 124.9 | Jun 2024 45.4 | Sep 2024 34.1 | Dec 2024 22.7 | Mar 2025 21.2 | Jun 2025 21.0 | Sep 2025 22.9 | Dec 2025 21.7 | Mar 2026 29.3 | Jun 2026 43.3
- WILC: Sep 2021 16.7 | Dec 2021 18.2 | Mar 2022 21.6 | Jun 2022 26.8 | Sep 2022 21.5 | Dec 2022 15.5 | Mar 2023 19.1 | Jun 2023 17.0 | Sep 2023 15.9 | Dec 2023 16.2 | Mar 2024 13.0 | Jun 2024 11.7 | Sep 2024 9.8 | Dec 2024 11.7 | Mar 2025 10.6 | Jun 2025 9.3 | Sep 2025 10.1 | Dec 2025 14.1 | Mar 2026 12.4 | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: G. Willi-Food International Ltd. leads ev/ebitda at 10.6×; Mission Produce, Inc. leads p/bv at 1.7×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: G. Willi-Food International Ltd. · 10.6× | 17.2% versus #2 · Performance Food Group Company | 0/8 recent comparable periods | 8/8 companies · 143 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. G. Willi-Food International Ltd. (WILC): 10.6
2. Performance Food Group Company (PFGC): 12.8
3. Sysco Corporation (SYY): 12.8
4. The Andersons, Inc. (ANDE): 13.2
5. The Chefs' Warehouse, Inc. (CHEF): 13.9

### P/BV — lowest P/BV
1. Mission Produce, Inc. (AVO): 1.7
2. G. Willi-Food International Ltd. (WILC): 1.7
3. The Andersons, Inc. (ANDE): 1.9
4. United Natural Foods, Inc. (UNFI): 2.0
5. Performance Food Group Company (PFGC): 2.7

### 20-quarter EV/EBITDA history
- SYY: Sep 2021 — | Dec 2021 20.3 | Mar 2022 18.3 | Jun 2022 17.5 | Sep 2022 16.9 | Dec 2022 14.1 | Mar 2023 — | Jun 2023 13.4 | Sep 2023 12.2 | Dec 2023 11.9 | Mar 2024 12.8 | Jun 2024 11.3 | Sep 2024 12.0 | Dec 2024 11.8 | Mar 2025 11.6 | Jun 2025 11.8 | Sep 2025 12.7 | Dec 2025 11.9 | Mar 2026 12.8 | Jun 2026 —
- USFD: Sep 2021 — | Dec 2021 18.9 | Mar 2022 16.6 | Jun 2022 17.5 | Sep 2022 15.3 | Dec 2022 12.5 | Mar 2023 — | Jun 2023 12.1 | Sep 2023 11.8 | Dec 2023 11.2 | Mar 2024 12.8 | Jun 2024 12.2 | Sep 2024 12.6 | Dec 2024 13.5 | Mar 2025 12.4 | Jun 2025 13.9 | Sep 2025 13.6 | Dec 2025 13.4 | Mar 2026 15.2 | Jun 2026 —
- PFGC: Sep 2021 — | Dec 2021 21.4 | Mar 2022 20.0 | Jun 2022 18.4 | Sep 2022 15.5 | Dec 2022 11.9 | Mar 2023 — | Jun 2023 12.2 | Sep 2023 11.1 | Dec 2023 11.6 | Mar 2024 12.1 | Jun 2024 11.0 | Sep 2024 12.7 | Dec 2024 14.7 | Mar 2025 13.1 | Jun 2025 14.0 | Sep 2025 15.5 | Dec 2025 13.6 | Mar 2026 12.8 | Jun 2026 —
- CHEF: Sep 2021 — | Dec 2021 36.3 | Mar 2022 23.9 | Jun 2022 20.6 | Sep 2022 15.3 | Dec 2022 15.8 | Mar 2023 16.0 | Jun 2023 16.9 | Sep 2023 11.8 | Dec 2023 13.1 | Mar 2024 14.5 | Jun 2024 13.9 | Sep 2024 13.9 | Dec 2024 14.3 | Mar 2025 14.7 | Jun 2025 16.1 | Sep 2025 14.7 | Dec 2025 15.4 | Mar 2026 13.9 | Jun 2026 —
- UNFI: Sep 2021 — | Dec 2021 9.8 | Mar 2022 8.9 | Jun 2022 8.9 | Sep 2022 8.2 | Dec 2022 8.9 | Mar 2023 8.9 | Jun 2023 8.8 | Sep 2023 10.5 | Dec 2023 14.0 | Mar 2024 17.0 | Jun 2024 17.3 | Sep 2024 13.4 | Dec 2024 14.4 | Mar 2025 14.9 | Jun 2025 13.5 | Sep 2025 17.4 | Dec 2025 19.0 | Mar 2026 16.8 | Jun 2026 16.9
- ANDE: Sep 2021 5.3 | Dec 2021 6.1 | Mar 2022 9.6 | Jun 2022 6.4 | Sep 2022 4.8 | Dec 2022 5.4 | Mar 2023 9.1 | Jun 2023 7.8 | Sep 2023 7.9 | Dec 2023 6.9 | Mar 2024 6.4 | Jun 2024 5.8 | Sep 2024 5.8 | Dec 2024 5.6 | Mar 2025 6.9 | Jun 2025 6.1 | Sep 2025 8.3 | Dec 2025 10.5 | Mar 2026 13.2 | Jun 2026 —
- AVO: Sep 2021 — | Dec 2021 17.1 | Mar 2022 19.6 | Jun 2022 20.6 | Sep 2022 22.9 | Dec 2022 — | Mar 2023 175.5 | Jun 2023 245.1 | Sep 2023 — | Dec 2023 19.7 | Mar 2024 14.1 | Jun 2024 12.9 | Sep 2024 11.5 | Dec 2024 9.4 | Mar 2025 9.8 | Jun 2025 9.5 | Sep 2025 10.2 | Dec 2025 9.2 | Mar 2026 11.4 | Jun 2026 14.0
- WILC: Sep 2021 10.7 | Dec 2021 8.6 | Mar 2022 9.3 | Jun 2022 9.1 | Sep 2022 7.2 | Dec 2022 7.4 | Mar 2023 10.0 | Jun 2023 11.5 | Sep 2023 9.6 | Dec 2023 9.5 | Mar 2024 10.7 | Jun 2024 6.3 | Sep 2024 6.5 | Dec 2024 9.4 | Mar 2025 6.5 | Jun 2025 8.2 | Sep 2025 8.9 | Dec 2025 12.6 | Mar 2026 10.6 | Jun 2026 —

### 20-quarter P/BV history
- SYY: Sep 2021 — | Dec 2021 24.6 | Mar 2022 32.6 | Jun 2022 31.7 | Sep 2022 31.8 | Dec 2022 32.1 | Mar 2023 — | Jun 2023 24.8 | Sep 2023 18.7 | Dec 2023 15.3 | Mar 2024 19.3 | Jun 2024 18.9 | Sep 2024 17.3 | Dec 2024 18.7 | Mar 2025 18.7 | Jun 2025 19.6 | Sep 2025 19.0 | Dec 2025 15.6 | Mar 2026 17.0 | Jun 2026 —
- USFD: Sep 2021 — | Dec 2021 2.2 | Mar 2022 2.1 | Jun 2022 2.3 | Sep 2022 1.8 | Dec 2022 1.5 | Mar 2023 — | Jun 2023 2.1 | Sep 2023 2.4 | Dec 2023 2.3 | Mar 2024 2.8 | Jun 2024 2.6 | Sep 2024 3.1 | Dec 2024 3.5 | Mar 2025 3.2 | Jun 2025 3.8 | Sep 2025 3.9 | Dec 2025 3.9 | Mar 2026 4.6 | Jun 2026 —
- PFGC: Sep 2021 — | Dec 2021 2.4 | Mar 2022 2.2 | Jun 2022 2.4 | Sep 2022 2.2 | Dec 2022 1.9 | Mar 2023 — | Jun 2023 2.6 | Sep 2023 2.5 | Dec 2023 2.8 | Mar 2024 2.9 | Jun 2024 2.5 | Sep 2024 2.9 | Dec 2024 3.1 | Mar 2025 2.8 | Jun 2025 3.0 | Sep 2025 3.6 | Dec 2025 3.1 | Mar 2026 2.7 | Jun 2026 —
- CHEF: Sep 2021 3.6 | Dec 2021 3.5 | Mar 2022 3.5 | Jun 2022 4.0 | Sep 2022 3.0 | Dec 2022 3.2 | Mar 2023 3.3 | Jun 2023 3.4 | Sep 2023 1.9 | Dec 2023 2.6 | Mar 2024 3.3 | Jun 2024 3.4 | Sep 2024 3.4 | Dec 2024 3.6 | Mar 2025 4.0 | Jun 2025 4.6 | Sep 2025 4.1 | Dec 2025 4.3 | Mar 2026 4.0 | Jun 2026 —
- UNFI: Sep 2021 — | Dec 2021 1.6 | Mar 2022 1.3 | Jun 2022 1.4 | Sep 2022 1.4 | Dec 2022 1.4 | Mar 2023 1.3 | Jun 2023 0.9 | Sep 2023 0.7 | Dec 2023 0.5 | Mar 2024 0.5 | Jun 2024 0.3 | Sep 2024 0.5 | Dec 2024 0.8 | Mar 2025 1.1 | Jun 2025 1.0 | Sep 2025 1.1 | Dec 2025 1.5 | Mar 2026 1.5 | Jun 2026 2.0
- ANDE: Sep 2021 1.0 | Dec 2021 1.2 | Mar 2022 1.6 | Jun 2022 1.0 | Sep 2022 0.9 | Dec 2022 1.0 | Mar 2023 1.2 | Jun 2023 1.3 | Sep 2023 1.4 | Dec 2023 1.5 | Mar 2024 1.5 | Jun 2024 1.3 | Sep 2024 1.3 | Dec 2024 1.0 | Mar 2025 1.1 | Jun 2025 0.9 | Sep 2025 1.1 | Dec 2025 1.5 | Mar 2026 1.9 | Jun 2026 —
- AVO: Sep 2021 — | Dec 2021 2.5 | Mar 2022 1.9 | Jun 2022 1.7 | Sep 2022 1.8 | Dec 2022 2.3 | Mar 2023 1.8 | Jun 2023 1.6 | Sep 2023 1.7 | Dec 2023 1.3 | Mar 2024 1.4 | Jun 2024 1.6 | Sep 2024 1.5 | Dec 2024 1.5 | Mar 2025 1.5 | Jun 2025 1.3 | Sep 2025 1.5 | Dec 2025 1.4 | Mar 2026 1.6 | Jun 2026 1.7
- WILC: Sep 2021 1.6 | Dec 2021 1.4 | Mar 2022 1.4 | Jun 2022 1.3 | Sep 2022 1.2 | Dec 2022 1.2 | Mar 2023 1.4 | Jun 2023 1.2 | Sep 2023 1.0 | Dec 2023 0.9 | Mar 2024 0.9 | Jun 2024 0.9 | Sep 2024 1.0 | Dec 2024 1.4 | Mar 2025 1.3 | Jun 2025 1.4 | Sep 2025 1.5 | Dec 2025 2.0 | Mar 2026 1.7 | Jun 2026 —

## Market action

The Andersons, Inc. has the strongest one-year price move in Food Distribution at +111%. The Chefs' Warehouse, Inc. leads on Mansfield relative strength against the S&P 500 at +35.1%. 6 of 8 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

### Strongest one-year price performers
1. The Andersons, Inc. (ANDE): 111%
2. United Natural Foods, Inc. (UNFI): 88%
3. The Chefs' Warehouse, Inc. (CHEF): 49%
4. G. Willi-Food International Ltd. (WILC): 41%
5. US Foods Holding Corp. (USFD): 22%

### Strongest relative strength versus NIFTY 500
1. The Chefs' Warehouse, Inc. (CHEF): 35%
2. United Natural Foods, Inc. (UNFI): 18%
3. The Andersons, Inc. (ANDE): 15%
4. US Foods Holding Corp. (USFD): 12%
5. Performance Food Group Company (PFGC): 10%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

## Every company
- Sysco Corporation (SYY) — market value ₹40.7K Cr; latest fundamentals Mar 2026
- US Foods Holding Corp. (USFD) — market value ₹22.3K Cr; latest fundamentals Mar 2026
- Performance Food Group Company (PFGC) — market value ₹18.1K Cr; latest fundamentals Mar 2026
- The Chefs' Warehouse, Inc. (CHEF) — market value ₹4.1K Cr; latest fundamentals Mar 2026
- United Natural Foods, Inc. (UNFI) — market value ₹3.1K Cr; latest fundamentals Jun 2026
- The Andersons, Inc. (ANDE) — market value ₹2.5K Cr; latest fundamentals Mar 2026
- Mission Produce, Inc. (AVO) — market value ₹1.1K Cr; latest fundamentals Jun 2026
- G. Willi-Food International Ltd. (WILC) — market value ₹417 Cr; latest fundamentals Mar 2026

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-28.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### Which Food Distribution company is the biggest?

Sysco Corporation is the largest, with trailing-twelve-month revenue of $83,567 million, ahead of Performance Food Group Company at $66,750 million. That covers 8 of 8 companies with comparable reporting through Mar 2026.

### Which Food Distribution company is growing fastest?

The Chefs' Warehouse, Inc. has the fastest revenue growth at 10% year on year, across 8 of 8 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Food Distribution company has the best profit margins?

G. Willi-Food International Ltd. has the highest operating margin at 12.8%, from 8 of 8 comparable companies. The Chefs' Warehouse, Inc. shows the biggest recent improvement, at +0.7 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Food Distribution company makes the most profit?

Sysco Corporation earns the most, at $1,736 million of trailing-twelve-month net profit, from 8 of 8 comparable companies. US Foods Holding Corp. has the fastest profit growth at 28.5%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Food Distribution company earns the highest return on capital?

Sysco Corporation leads on return on capital employed at 3.6%, across 8 of 8 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Food Distribution stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — G. Willi-Food International Ltd. screens cheapest at 0.48×. Only 4 of 8 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Food Distribution company has the strongest balance sheet?

G. Willi-Food International Ltd. carries the lowest comparable gross debt at $8 million, from 8 of 8 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Food Distribution company is investing most in new capacity?

Sysco Corporation reports the largest capital spending at $161 million, across 8 of 8 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

### Is the Food Distribution sector beating the market?

Food Distribution has outperformed S&P 500 by 21.1% over the last 52 weeks and 4.9% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 6 of 8 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

### Which Food Distribution stock has the strongest price momentum?

The Chefs' Warehouse, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Food Distribution company scores highest for research priority?

The Chefs' Warehouse, Inc. scores 68.7 out of 100 with 82% evidence confidence, from 26.2 points on growth and earnings, 12.7 on capital efficiency, 10.6 on valuation and 19.2 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Food Distribution companies does this comparison cover, and over what period?

It compares 8 listed companies over up to 20 reported quarters of fundamentals and 5 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Food Distribution sector?

The 8 Food Distribution companies on this page carry $92,415 million of combined market value. Sysco Corporation is the largest at $40,741 million, about 44% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

### What is the Food Distribution sector's P/E ratio?

The median price-to-earnings ratio across the 8 Food Distribution companies on this page is 32.5×, measured on the 8 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

### How is the Food Distribution sector performing?

6 of the 8 covered Food Distribution companies are beating S&P 500 on Mansfield relative strength. The sector itself is 21.1% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

### How many Food Distribution stocks are listed in the US?

This comparison covers 8 listed Food Distribution companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/food-distribution