Financials The Chefs' Warehouse, Inc.

Stocks

CHEF

US1630861011

Food Retail & Distribution

Market Closed - Nasdaq Other stock markets 01:30:00 21/07/2026 am IST			Pre-market 03:38:34 pm
95.58 ^USD	-1.55%		107.44	+12.40%

16/07	Restaurants, Food Distributors Poised for Mixed Second Quarter, Morgan Stanley Says	MT
15/07	Restaurant Sector Remains Mixed as Stronger Operators Outperform, Morgan Stanley Says	MT

Projected Income Statement: The Chefs' Warehouse, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	1,746	2,613	3,434	3,794	4,150	4,483	4,840	5,188
Change	-	49.7%	31.39%	10.5%	9.36%	8.04%	7.96%	7.18%
EBITDA ¹	61.3	157.9	193.2	219	258.3	292	324.9	360.4
Change	-	157.55%	22.4%	13.34%	17.93%	13.08%	11.24%	10.94%
EBIT ¹	10.81	106	117.6	137.8	159.6	181.7	208.1	238.5
Change	-	880.68%	10.91%	17.15%	15.84%	13.88%	14.5%	14.63%
Interest Paid ¹	-17.59	-43.85	-45.47	-48.68	-41.56	-41.11	-41.1	-41.2
Earnings before Tax (EBT) ¹	-6.776	41.89	55.47	79.53	103.5	137.6	165.6	199.5
Change	-	718.2%	32.42%	43.38%	30.19%	32.94%	20.31%	20.47%
Net income ¹	-4.923	27.75	34.59	55.48	72.36	100	119.8	141.5
Change	-	663.68%	24.65%	60.39%	30.43%	38.2%	19.82%	18.09%
Announcement Date	09/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1
Net sales ¹	423	484.3	558.3	512.1	648.1	661.9	791.3	719.6	881.8	881.8	950.5	874.5	954.7	931.5	1,034	950.7	1,035	1,021	1,143	1,059	1,122	1,089	1,211	1,141	1,212	1,173	1,317	1,201
Change	-	14.51%	15.26%	-8.27%	26.56%	2.12%	19.56%	-9.06%	22.54%	0%	7.78%	-7.99%	9.17%	-2.44%	10.96%	-8.01%	8.85%	-1.31%	11.87%	-7.31%	5.98%	-2.95%	11.14%	-5.78%	6.26%	-3.21%	12.26%	-8.79%
EBITDA ¹	17.17	23.39	30.24	21.45	45.34	41	50.08	32.82	51.12	50.28	59.02	40.16	56.18	54.46	68.21	47.48	65.45	65.05	80.28	60.1	74.23	70.95	86.04	66.99	82.69	79.12	96.41	73.7
Change	-	36.23%	29.32%	-29.07%	111.34%	-9.55%	22.12%	-34.46%	55.74%	-1.64%	17.38%	-31.95%	39.89%	-3.07%	25.25%	-30.39%	37.83%	-0.6%	23.41%	-25.15%	23.52%	-4.41%	21.26%	-22.14%	23.43%	-4.31%	21.85%	-23.55%
EBIT ¹	6.648	10.44	15.84	9.232	33.07	28.52	35.27	16.16	31.44	30.82	40.32	21.62	35.92	33.72	46.42	29.14	42.01	40.33	52.84	34.78	46.61	43.27	56.97	39.06	53.9	50.36	65.69	45.3
Change	-	57.02%	51.75%	-41.72%	258.18%	-13.74%	23.64%	-54.19%	94.6%	-1.97%	30.8%	-46.37%	66.13%	-6.13%	37.69%	-37.22%	44.14%	-3.99%	31.02%	-34.18%	34%	-7.17%	31.68%	-31.43%	37.97%	-6.56%	30.43%	-31.04%
Charge d'intérêts ¹	-4.408	-4.191	-4.225	-4.365	-4.465	-10.74	-24.28	-10.01	-12.01	-11.38	-12.08	-13.24	-11.69	-11.74	-12	-10.25	-10.72	-10.54	-10.06	-10.4	-10.11	-10.11	-10.12	-10.03	-10.07	-10.13	-10.17	-10.4
Earnings before Tax (EBT) ¹	0.251	6.248	11.62	1.899	23.17	11.34	5.483	1.893	13.33	14.17	26.07	2.759	22.18	20.14	34.46	12.48	29.5	28.4	33.16	22.74	35.5	32.28	46.22	26.9	43.1	41.3	58.3	-
Change	-	2,389.24%	85.92%	-83.65%	1,120.06%	-51.06%	-51.64%	-65.48%	604.38%	6.27%	83.99%	-89.42%	703.81%	-9.19%	71.1%	-63.78%	136.35%	-3.73%	16.75%	-31.43%	56.13%	-9.08%	43.22%	-41.81%	60.22%	-4.18%	41.16%	-
Net income ¹	1.098	3.456	8.444	1.385	16.92	8.277	1.173	1.401	9.867	7.322	16	1.931	15.52	14.1	23.93	10.29	21.24	19.15	21.68	17.37	25.96	23.38	33.45	20.5	31.79	30.09	41.42	-
Change	-	214.75%	144.33%	-83.6%	1,121.3%	-51.07%	-85.83%	19.44%	604.28%	-25.79%	118.52%	-87.93%	703.94%	-9.19%	69.71%	-57%	106.46%	-9.85%	13.24%	-19.91%	49.51%	-9.97%	43.11%	-38.71%	55.05%	-5.36%	37.67%	-
Announcement Date	28/07/21	27/10/21	09/02/22	27/04/22	27/07/22	26/10/22	15/02/23	03/05/23	02/08/23	01/11/23	14/02/24	01/05/24	31/07/24	30/10/24	12/02/25	30/04/25	30/07/25	29/10/25	11/02/26	29/04/26	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: The Chefs' Warehouse, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	-	-	668	592	628	536	395	233
Change	-	-	-	-11.38%	6.08%	-14.59%	-26.31%	-41.01%
Announcement Date	09/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: The Chefs' Warehouse, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	38.8	45.85	57.43	49.51	41.43	47.27	52.7	55.45
Change	-	18.16%	25.26%	-13.79%	-16.32%	14.11%	11.49%	5.22%
Free Cash Flow (FCF) ¹	-58.7	-22.71	4.212	103.6	87.79	142	141.5	183.5
Change	-	61.3%	118.54%	2,358.57%	-15.22%	61.71%	-0.33%	29.68%
Announcement Date	09/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: The Chefs' Warehouse, Inc.

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	3.51%	6.04%	5.63%	5.77%	6.22%	6.51%	6.71%	6.95%
EBIT Margin (%)	0.62%	4.06%	3.42%	3.63%	3.85%	4.05%	4.3%	4.6%
EBT Margin (%)	-0.39%	1.6%	1.62%	2.1%	2.5%	3.07%	3.42%	3.85%
Net margin (%)	-0.28%	1.06%	1.01%	1.46%	1.74%	2.23%	2.48%	2.73%
FCF margin (%)	-3.36%	-0.87%	0.12%	2.73%	2.12%	3.17%	2.92%	3.54%
FCF / Net Income (%)	1,192.36%	-81.85%	12.18%	186.66%	121.33%	141.96%	118.09%	129.68%
Profitability
ROA	-	-	-	-	-	-	-	-
ROE	-1.42%	7.38%	8.08%	12.53%	12.67%	15.46%	15.4%	15.06%
Financial Health
Leverage (Debt/EBITDA)	-	-	3.46x	2.7x	2.43x	1.84x	1.22x	0.65x
Debt / Free cash flow	-	-	158.62x	5.72x	7.15x	3.78x	2.79x	1.27x
Capital Intensity
CAPEX / Current Assets (%)	2.22%	1.75%	1.67%	1.3%	1%	1.05%	1.09%	1.07%
CAPEX / EBITDA (%)	63.3%	29.04%	29.72%	22.6%	16.04%	16.19%	16.22%	15.39%
CAPEX / FCF (%)	-66.1%	-201.85%	1,363.41%	47.81%	47.19%	33.3%	37.25%	30.22%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	-	11.46	13.36	14.86	17.02	20.62	24.43
Change	-	-	-	16.53%	11.21%	14.54%	21.16%	18.48%
EPS ¹	-0.13	0.73	0.88	1.32	1.68	2.165	2.575	3.06
Change	-	661.54%	20.55%	50%	27.27%	28.87%	18.94%	18.83%
Nbr of stocks (in thousands)	37,884	38,270	39,665	40,413	40,686	40,778	40,778	40,778
Announcement Date	09/02/22	15/02/23	14/02/24	12/02/25	11/02/26	-	-	-