Performance Food Group Company (PFG) is an American food service distributor. It is the third-largest food service distributor in the U.S., after Sysco and US Foods. The company supplies 250,000 products to 300,000 locations including independent restaurants, chain restaurants, healthcare, hospitality, and educational institutions.3 It was founded by Michael Gray and Robert Sledd.1 Its shares trade on NYSE under the symbol PFGC.1Wikipedia text CC BY-SA 4.0
$96.47down 1.41 (1.44%)Price as of Oct 21, 2026 at 18:59 UTC
Performance Food Group Company (PFG) is an American food service distributor. It is the third-largest food service distributor in the U.S., after Sysco and US Foods. The company supplies 250,000 products to 300,000 locations including independent restaurants, chain restaurants, healthcare, hospitality, and educational institutions. It has 155 distribution centers.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue11121314157$67.8B in 2026+244% since 2019Gross profit11121314157$8.1B in 2026+222% since 2019Operating income11121314157$887.5M in 2026+213% since 2019Net income11121314157$359.3M in 2026+115% since 2019
Revenue161718$16.3B in Q3 FY2026−5% since Q1 FY2025Gross profit161718$1.9B in Q3 FY2026−4% since Q1 FY2025Operating income161718$148.9M in Q3 FY2026−34% since Q1 FY2025Net income161718$41.7M in Q3 FY2026−55% since Q1 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.7
Period ending
2026-06-30
2025-06-30
2024-06-30
Net sales
$67.8B
$63.3B
$58.3B
Cost of goods sold
$59.7B
$55.9B
$51.7B
Gross profit
$8.1B
$7.4B
$6.6B
Operating expenses
$7.2B
$6.6B
$5.8B
Operating profit
$887.5M
$816.3M
$826.4M
Interest expense
$413.7M
$358.4M
$232.2M
Other, net
-$12.0M
-$900.0K
-$2.6M
Other expense, net
$401.7M
$357.5M
$229.6M
Income before taxes
$485.8M
$458.8M
$596.8M
Income tax expense
$126.5M
$118.6M
$160.9M
Net income
$359.3M
$340.2M
$435.9M
Basic
155.9M shares
154.8M shares
154.4M shares
Diluted
157.0M shares
156.4M shares
156.0M shares
Basic
$2.30
$2.20
$2.82
Diluted
$2.29
$2.18
$2.79
No quarter-by-quarter statement was filed.
Total assets1911121314157$18.8B in 2026+305% since 2019Total liabilities1911121314157$13.9B in 2026+316% since 2019Shareholders’ equity121314157$4.9B in 2026+277% since 2019Long-term debt1911121314157$5.0B in 2026+316% since 2019
Total assets161718$18.4B in Q3 FY2026+0% since Q1 FY2025Total liabilities161718$13.7B in Q3 FY2026−1% since Q1 FY2025Shareholders’ equity161718$4.7B in Q3 FY2026+3% since Q1 FY2025Long-term debt161718$5.1B in Q3 FY2026−9% since Q1 FY2025
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.7
Period ending
2026-06-30
2025-06-30
2024-06-30
2023-06-30
Cash
$92.4M
$78.5M
Accounts receivable, less allowances of $71.4 and $69.0
$3.1B
$2.8B
Inventories, net
$4.3B
$3.9B
Income taxes receivable
$69.5M
$96.2M
Prepaid expenses and other current assets
$259.9M
$239.7M
Total current assets
$7.8B
$7.1B
Goodwill
$3.6B
$3.5B
$2.4B
Other intangible assets, net
$1.5B
$1.7B
Property, plant and equipment, net
$4.8B
$4.5B
Operating lease right-of-use assets
$898.5M
$933.8M
Other assets
$247.0M
$185.0M
Total assets
$18.8B
$17.9B
Trade accounts payable and outstanding checks in excess of deposits
$3.7B
$3.2B
Accrued expenses and other current liabilities
$1.1B
$1.0B
Finance lease obligationscurrent installments
$265.4M
$221.9M
Operating lease obligationscurrent installments
$108.5M
$104.5M
Total current liabilities
$5.2B
$4.5B
Long-term debt
$5.0B
$5.4B
Deferred income tax liability, net
$974.8M
$887.1M
Finance lease obligations, excluding current installments
$1.5B
$1.4B
Operating lease obligations, excluding current installments
$864.6M
$900.7M
Other long-term liabilities
$407.7M
$334.7M
Total liabilities
$13.9B
$13.4B
Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 156.1 million shares issued and outstanding as of June 27, 2026; 154.9 million shares issued and outstanding as of June 28, 2025
$1.6M
$1.5M
Additional paid-in capital
$2.9B
$2.8B
Accumulated other comprehensive loss, net of tax benefit of $1.1 and $0.9
-$3.7M
-$3.2M
Retained earnings
$2.0B
$1.6B
Total shareholders equity
$4.9B
$4.5B
$4.1B
$3.7B
Total liabilities and shareholders equity
$18.8B
$17.9B
Accounts receivable, allowances
$71.4M
$69.0M
Common stock, par value
$0.01
$0.01
Common stock, shares authorized
1.0B shares
1.0B shares
Common stock, shares issued
156.1M shares
154.9M shares
Common stock, shares outstanding
156.1M shares
154.9M shares
Accumulated other comprehensive loss, net of tax expense
$1.1M
$900.0K
Period ending
2026-06-30
2025-06-30
2024-06-30
2023-06-30
Cash
$92.4M
$78.5M
Accounts receivable, less allowances of $71.4 and $69.0
$3.1B
$2.8B
Inventories, net
$4.3B
$3.9B
Income taxes receivable
$69.5M
$96.2M
Prepaid expenses and other current assets
$259.9M
$239.7M
Total current assets
$7.8B
$7.1B
Goodwill
$3.6B
$3.5B
$2.4B
Other intangible assets, net
$1.5B
$1.7B
Property, plant and equipment, net
$4.8B
$4.5B
Operating lease right-of-use assets
$898.5M
$933.8M
Other assets
$247.0M
$185.0M
Total assets
$18.8B
$17.9B
Trade accounts payable and outstanding checks in excess of deposits
$3.7B
$3.2B
Accrued expenses and other current liabilities
$1.1B
$1.0B
Finance lease obligationscurrent installments
$265.4M
$221.9M
Operating lease obligationscurrent installments
$108.5M
$104.5M
Total current liabilities
$5.2B
$4.5B
Long-term debt
$5.0B
$5.4B
Deferred income tax liability, net
$974.8M
$887.1M
Finance lease obligations, excluding current installments
$1.5B
$1.4B
Operating lease obligations, excluding current installments
$864.6M
$900.7M
Other long-term liabilities
$407.7M
$334.7M
Total liabilities
$13.9B
$13.4B
Common Stock: $0.01 par value per share, 1.0 billion shares authorized, 156.1 million shares issued and outstanding as of June 27, 2026; 154.9 million shares issued and outstanding as of June 28, 2025
$1.6M
$1.5M
Additional paid-in capital
$2.9B
$2.8B
Accumulated other comprehensive loss, net of tax benefit of $1.1 and $0.9
-$3.7M
-$3.2M
Retained earnings
$2.0B
$1.6B
Total shareholders equity
$4.9B
$4.5B
$4.1B
$3.7B
Total liabilities and shareholders equity
$18.8B
$17.9B
Accounts receivable, allowances
$71.4M
$69.0M
Common stock, par value
$0.01
$0.01
Common stock, shares authorized
1.0B shares
1.0B shares
Common stock, shares issued
156.1M shares
154.9M shares
Common stock, shares outstanding
156.1M shares
154.9M shares
Accumulated other comprehensive loss, net of tax expense
$1.1M
$900.0K
Cash from operations11121314157$1.4B in 2026+345% since 2019Capital spending11121314157$384.1M in 2026+176% since 2019Free cash flow11121314157$1.0B in 2026+477% since 2019Share buybacks11121314157$1.5M in 2026−84% since 2019
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.7
Period ending
2026-06-30
2025-06-30
2024-06-30
Net income
$359.3M
$340.2M
$435.9M
Depreciation
$541.9M
$455.3M
$355.2M
Amortization of intangible assets
$272.0M
$262.6M
$201.5M
Amortization of deferred financing costs
$12.5M
$12.6M
$10.5M
Provision for losses on accounts receivables
$22.2M
$22.7M
$19.8M
Change in LIFO reserve
$101.1M
$88.1M
$62.3M
Stock-based compensation expense
$51.5M
$47.8M
$41.9M
Deferred income tax expense (benefit)
$92.0M
-$200.0K
$10.7M
Loss on extinguishment of debt
$2.1M
$0
$900.0K
Change in fair value of derivative assets and liabilities
-$3.7M
-$800.0K
-$4.1M
Other non-cash activities
$4.6M
$2.5M
-$2.4M
Accounts receivable
-$199.3M
-$151.9M
-$81.1M
Inventories
-$483.4M
-$337.9M
$37.7M
Income taxes receivable
$26.7M
-$17.5M
-$29.9M
Prepaid expenses and other assets
-$19.9M
$56.6M
-$95.8M
Trade accounts payable and outstanding checks in excess of deposits
$500.3M
$372.7M
$124.0M
Accrued expenses and other liabilities
$133.8M
$57.3M
$75.9M
Net cash provided by operating activities
$1.4B
$1.2B
$1.2B
Purchases of property, plant and equipment
-$384.1M
-$506.0M
-$395.6M
Purchase of intangible assets
-$9.6M
$0
$0
Net cash paid for acquisitions
-$383.4M
-$2.6B
-$307.7M
Proceeds from sale of property, plant and equipment and other
$4.6M
$13.4M
$20.6M
Net cash used in investing activities
-$772.5M
-$3.1B
-$682.7M
Net (payments) borrowings under ABL Facility
-$384.0M
$1.2B
$6.8M
Cash paid for debt issuance, extinguishment, and creditor fees for debt modification
-$5.7M
-$34.2M
$0
Payments under finance lease obligations
-$241.6M
-$188.0M
-$122.2M
Net cash paid for acquisitions
-$10.1M
-$1.5M
$0
Proceeds from employee stock purchase plan
$36.9M
$32.7M
$15.5M
Proceeds from exercise of stock options
$6.4M
$11.1M
$2.2M
Cash paid for shares withheld to cover taxes
-$25.2M
-$18.8M
-$21.5M
Repurchases of common stock
-$1.5M
-$57.6M
-$78.1M
Other financing activities
$0
$0
-$300.0K
Net cash (used in) provided by financing activities
Performance Food Group sits at the top of its group. 53 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Performance Food Group
Capital World InvestorsFiled SCHEDULE 13G/A on Performance Food Group, latest Aug 12, 2026 (4 filings since Feb 13, 2023)
VANGUARD GROUP INCFiled SCHEDULE 13G/A on Performance Food Group, latest Mar 27, 2026 (5 filings since Feb 10, 2022)
FMR LLCFiled SCHEDULE 13G/A on Performance Food Group, latest Nov 5, 2025 (6 filings since Feb 9, 2022)
Wellington Management CompanyFiled SC 13G/A on Performance Food Group, latest Feb 8, 2024 (3 filings since Jan 10, 2022)
BlackRockFiled SC 13G/A on Performance Food Group, latest Jan 25, 2024 (5 filings since Oct 8, 2021)
JPMorgan ChaseFiled SC 13G/A on Performance Food Group, latest Oct 6, 2022 (2 filings since Jan 14, 2022)
Performance Food GroupRichmond, Virginia, United States
AFFLINK Corporation ULC Subsidiary · Nova Scotia, Canada
AFFLINK Holding Corporation Subsidiary · Delaware, United States
Belgium Butter Nut & Candy, LLC Subsidiary · Florida, United States
Blue Reef Fish Company, LLC Subsidiary · Florida, United States
Branded Restaurant Purchasing, LLC Subsidiary · Florida, United States
Cheney Bros., Inc. Subsidiary · Florida, United States
Cheney OFS, LLC Subsidiary · Florida, United States
CME Transco, LLC Subsidiary · Delaware, United States
Coast to Coast Cold Storage, LLC Subsidiary · Florida, United States
Coast to Coast Express Aviation, LLC Subsidiary · Florida, United States
Coast to Coast Importing, LLC Subsidiary · Florida, United States
Coda Coffee, LLC Subsidiary · Delaware, United States
Continental Concession Supplies, LLC Subsidiary · Delaware, United States
Core-Mark Holding Company, LLC Subsidiary · Delaware, United States
Core-Mark International, Inc. Subsidiary · Delaware, United States
Core-Mark US, LLC Subsidiary · Delaware, United States
CW Foodservice Partners, LLC Subsidiary · Delaware, United States
Foodservice Purchasing Group, LLC Subsidiary · Virginia, United States
Fox River Foods, Inc. Subsidiary · Illinois, United States
Green Rabbit Holdings, LLC Subsidiary · Delaware, United States
GWB, LLC Subsidiary · Florida, United States
Institution Food House, Inc. Subsidiary · North Carolina, United States
Jose Santiago, Inc. Subsidiary · Puerto Rico, United States
Land Mark Products, Inc. Subsidiary · Iowa, United States
Liberty Distribution Company, LLC Subsidiary · Delaware, United States
and 27 more
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Performance Food Group reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
As of June 27, 2026, we operated 154 distribution centers across our three reportable segments. Of our 154 facilities, we owned 71 facilities and leased the remaining 83 facilities. Our Foodservice segment operated 90 distribution centers, our Convenience segment operated 38 distribution centers, and our Specialty segment operated 26 distribution centers, all of which had an average square footage of approximately 200,000 square feet per facility.
Location · Foodservice · Convenience · Specialty · Total
The rest of Item 2
Alabama · 1 · — · — · 1
Arkansas · 1 · 1 · — · 2
Arizona · 1 · — · 1 · 2
California · 4 · 5 · 2 · 11
Colorado · 1 · 1 · 1 · 3
Connecticut · — · — · 1 · 1
Florida · 12 · 2 · 1 · 15
Georgia · 3 · 1 · 1 · 5
Iowa · 1 · 1 · — · 2
Illinois · 2 · 1 · 1 · 4
Indiana · 1 · 1 · 1 · 3
Kentucky · 3 · 2 · 1 · 6
Louisiana · 4 · — · — · 4
Massachusetts · 3 · 1 · 1 · 5
Maryland · 2 · — · — · 2
Maine · 1 · 1 · — · 2
Michigan · 1 · 1 · 1 · 3
Minnesota · 3 · 1 · 1 · 5
Missouri · 4 · — · 1 · 5
Mississippi · 2 · — · 1 · 3
North Carolina · 3 · 2 · 1 · 6
North Dakota · 1 · — · — · 1
Nebraska · 2 · — · — · 2
New Jersey · 3 · — · 2 · 5
New Mexico · — · 1 · — · 1
Nevada · — · 1 · 1 · 2
Ohio · 3 · 3 · 1 · 7
Oregon · 1 · 1 · 1 · 3
Pennsylvania · 2 · 2 · 1 · 5
South Carolina · 4 · — · — · 4
South Dakota · 1 · — · — · 1
Tennessee · 5 · — · 1 · 6
Texas · 5 · 2 · 2 · 9
Utah · — · 1 · — · 1
Virginia · 4 · — · — · 4
Vermont · 2 · — · — · 2
Washington · — · 1 · — · 1
Wisconsin · 3 · 1 · 1 · 5
Canada · — · 4 · — · 4
Puerto Rico · 1 · — · — · 1
Total · 90 · 38 · 26 · 154
Our properties also include a combined headquarters facility for our corporate offices and the Foodservice segment that is located in Richmond, Virginia; a headquarters facility for Convenience located in Westlake, Texas; a combined support service center and headquarters facility for Specialty that is located in Englewood, Colorado; locations to support other segment operations; and other support service centers and corporate offices located in North America.
Our Foodservice broadline customers are generally located no more than 200 miles from one of our distribution centers, and national chain customers are generally located no more than 450 miles from one of our distribution centers. Of the 90 Foodservice
distribution centers, eleven have meat cutting operations that provide custom-cut meat products and two have seafood processing operations that provide custom-cut and packed seafood to our customers and our other distribution centers.
In addition to its 38 distribution centers, our Convenience segment has six redistribution centers to support other segment operations. Our Convenience segment also operates two additional facilities as a third-party logistics provider dedicated solely to supporting the logistics and management requirements of one of our customers. These distribution facilities are located in Arizona and Texas.
Customer orders are typically assembled in our distribution facilities and then sorted, placed on pallets, and loaded onto trucks and trailers in delivery sequence. Deliveries are generally made in large tractor-trailers that we usually lease. We use integrated computer systems to design and track efficient route sequences for the delivery of our products.
The company traces its roots to a business founded by James Capers in 1885 in Richmond, Virginia. It later became Pocahontas Foods.
The company became Performance Food Group in 1987.
In 2008, the company was acquired by investment funds managed by Wellspring Capital Management and Blackstone Inc. for $1.3 billion and it was merged with Vistar and Roma Foods.
In October 2015, the company became a public company via an initial public offering.
In May 2017, Blackstone sold its remaining stake in the company.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
497 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 59 major events, 298 insider forms, 26 large holders, 94 other. The latest 20:
115 open-market trades by officers, directors and large owners since October 2021: 0 buys and 115 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Performance Food Group is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
From the cover page of the 10-K filed Aug 12, 2026 (Section 12(b) of the Exchange Act).20
Risk factors and legal proceedings
The risks Performance Food Group names in Item 1A of its 10-K filed Aug 12, 2026: 32 risks under these headings, as written.20
Risks Relating to Our Business and Industry
Periods of difficult economic conditions, other macroeconomic or geopolitical events and heightened uncertainty in the financial markets may affect consumer spending and confidence, which can adversely affect our business.
Our growth and innovation strategies may not achieve the anticipated results.
Competition in our industry is intense, and we may not be able to compete successfully.
Many of our customers are not obligated to continue purchasing products from us.
Group purchasing organizations may become more active in our industry and increase their efforts to add our customers as members of these organizations.
We rely on third-party suppliers, and our business may be affected by interruption of supplies or increases in product costs.
We operate in a low margin industry, which could increase the volatility of our results of operations.
If we fail to increase our sales in the highest margin portions of our business, our profitability may suffer.
Changes in pricing practices of our suppliers could negatively affect our profitability.
Volatile food costs may have a direct impact upon our profitability.
Fluctuations in fuel prices and other transportation costs could harm our business.
The other 21 risks
We may not be able to realize the benefits of acquisitions or successfully integrate the businesses we acquire and we may incur significant costs related to the integration of acquired businesses.
Changes in consumer eating habits could reduce the demand for our products and adversely affect our business, financial condition, or results of operations.
A significant portion of our sales volume is dependent upon the distribution of cigarettes and other tobacco products, sales of which are generally declining.
Extreme weather conditions and natural disasters may interrupt our business or our customers’ or suppliers’ businesses.
Adverse publicity about us or our products, lack of confidence in our products or services, and other negative public impressions could adversely affect our reputation and our business.
Insurance and claims expenses could significantly reduce our profitability.
We have experienced losses because of the inability to collect accounts receivable in the past and could experience increases in such losses in the future if our customers are unable to pay their debts to us when due.
Risks Relating to Technology and Information Security
A cybersecurity incident or other technology disruptions could negatively affect our business and our relationships with customers, vendors and other partners.
We rely heavily on technology in our business, and any technology disruption or delay in implementing new technology could adversely affect our business.
As we integrate AI technologies into our processes, these technologies may present business, compliance, security, and reputational risks.
Risks Relating to Product Safety, Regulatory and Legal Matters
Cigarette, Tobacco and Alternative Nicotine Products
Climate change, or the legal, regulatory, or market measures being implemented to address climate change, could have an adverse impact on our business.
If the products we distribute or manufacture are alleged to cause injury, illness or death or fail to comply with governmental regulations or applicable quality standards, we may need to recall or withdraw our products.
We may be subject to or affected by product liability claims relating to products we distribute or manufacture.
Adverse judgments or settlements resulting from legal proceedings in which we may be involved in the normal course of our business could reduce our profits or limit our ability to operate our business.
Risks Relating to Human Capital Management
We face risks relating to labor relations, labor costs, and the availability of qualified labor.
Risks Relating to Our Indebtedness
Our future financial and operating flexibility could be adversely affected by our level of indebtedness.
Our ability to generate sufficient cash to service our indebtedness depends on many factors, some of which are not within our control.
Despite our level of indebtedness, we and our subsidiaries may still incur significant additional amounts of debt, which could further exacerbate the risks associated with our level of indebtedness.
The agreements governing our outstanding indebtedness contain restrictions that limit our flexibility in operating our business.
We utilize derivative financial instruments to reduce our exposure to market risks from changes in interest rates on our variable rate indebtedness, and we are exposed to risks related to counterparty credit worthiness or non-performance of these instruments.
Legal proceedings
We are a party to various claims, lawsuits and other legal proceedings arising in the ordinary course of business.
While it is impossible to determine with certainty the ultimate outcome of any of these proceedings, lawsuits, and claims, management believes that adequate provisions have been made or insurance secured for all currently pending proceedings so that the ultimate outcomes are not expected to have a material adverse effect on our financial position. Refer to Note 15. Commitments and Contingencies within the Notes to Consolidated Financial Statements included in Item 8 for disclosure of ongoing litigation.
